Company Overview - Hongda Electronics is a high-tech enterprise specializing in the R&D, production, sales, and related services of high-reliability electronic components and circuit modules, with over 20 years of experience in the industry [3]. - The company has advanced production lines and a complete quality inspection system, holding multiple core technologies and patents, particularly in tantalum capacitors [3]. Financial Performance - In the first half of 2020, the company achieved a revenue of ¥51,973.93 million, representing a year-on-year growth of 28% [3]. - The net profit attributable to the parent company was ¥17,058.01 million, a growth of 24.13% after excluding non-recurring gains and losses [4]. - Revenue from tantalum capacitor business was ¥34,117.39 million, up 12.26% year-on-year, while non-tantalum capacitor business revenue surged to ¥17,514.59 million, marking an 81.48% increase [4]. Product Segmentation - Revenue from high-reliability products accounted for nearly 90% of total income, while civilian products made up about 10% [4]. - The gross margin of non-solid tantalum capacitors is higher than that of solid tantalum capacitors due to the nature of the products and market conditions [5]. Order and Production Insights - The company experienced a recovery in orders in the second quarter of 2020 after initial delays due to the pandemic, with a significant increase in demand for high-reliability electronic components [6]. - The order fulfillment process is complex, involving multiple levels of suppliers, leading to a longer payment cycle of approximately 12 months [6]. Future Expansion Plans - The company is expanding its production capacity to meet growing market demands, particularly for tantalum capacitors and polymer capacitors [7]. - New production bases are being established, including a project in Xiangxiang for civilian electronic components, expected to double existing production capacity [8].

证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者关系活动记录表 编号：JL-2020-030 | --- | --- | |----------------|--------------------------------------------| | | | | | £ 特定对象调研 £分析师会议 | | 投资者关系活动 | £ 媒体采访 £ 业绩说明会 | | 类别 | £ 新闻发布会 £路演活动 £ 现场参观 | | | √ 其他 长江证券 -2020 年 秋季策略会 | | | 长江证券 杨晨 | | 参与单位名称及 | 光大保德基金 陈飞达 | | | 华泰柏瑞基金 董辰 | | 人员姓名 | 兴证全球基金 沈度 | | | 北京源乐晟资产管理 余高 | | 时间 | 2020 年 9 月 11 日 11:00-12:00 | | 地点 | 上海 | | 上市公司接待人 | | | 员姓名 | 董事会秘书、财务负责人 曾垒 | | 投资者关系活动 | 一、公司基本情况简介 | | --- | --- | |--------------|------------------ ...

证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者关系活动记录表 编号：JL-2020-031 | --- | --- | |----------------|---------------------------------------------------------| | | | | | £ 特定对象调研 £分析师会议 | | 投资者关系活动 | £ 媒体采访 £ 业绩说明会 | | 类别 | £ 新闻发布会 £路演活动 £ 现场参观 | | | √ 其他 信达证券 - 宏达电子 2020 年 第三季报业绩电话会 | | | 信达证券 张润毅、应昭衍 | | 参与单位名称及 | 常春藤资产 程熙云 | | 人员姓名 | 宝盈基金 李健伟、曹潜 | | | 深圳恒锐资本 刘庆忠 等 | | 时间 | 2020 年 10 月 21 日 17:00-18:00 | | 地点 | 电话会议 | | 上市公司接待人 | | | 员姓名 | 证券事务代表 郑雁翔 | | 投资者关系活动 | 一、投资者交流提问 | | --- | --- | |--------------|------- ...

Financial Performance - In the first three quarters of 2020, the company achieved operating revenue of 937 million CNY, a year-on-year increase of 49.03% [3] - The net profit attributable to shareholders was 336 million CNY, up 39.99% year-on-year [3] - In Q3 alone, operating revenue reached 417 million CNY, marking an 84.76% increase compared to the same period last year [3] - The net profit for Q3 was 145 million CNY, with a year-on-year growth of 143.04% [3] Product Revenue Growth - Revenue growth for high-reliability products exceeded 35%, while civil products saw a growth rate of around 70% [4] - Tantalum capacitors experienced a growth rate of over 25%, whereas non-tantalum products had an average growth rate exceeding 100% [4] - The absolute revenue increase from non-tantalum products surpassed that of tantalum capacitors, indicating a shift in growth drivers [4] Subsidiary Performance - Major subsidiaries contributing to growth include GuanTao Electronics (MLCC production) and HongWei Electronics (power module production), both showing significant revenue increases [4] - The subsidiary producing SLCC, HongDa HengXin, reported over 100% growth in the civil communication sector [5] - Revenue from subsidiary products accounted for over 35% of the company's total revenue [5] Capacity and Development Plans - Current capacity for tantalum capacitors meets operational needs, with ongoing monitoring of market demand for capacity adjustments [5] - The company has initiated planning for the "14th Five-Year Plan" period, focusing on maintaining leadership in high-reliability tantalum capacitors while investing in MLCC, SLCC, and power module products [5] - The company aims to enhance production capabilities and technical development to become a diversified platform for electronic components [6] Competitive Advantages - The company possesses core technologies and patents for high-end capacitors, which are expected to strengthen its market position [7] - Compared to state-owned enterprises, the company benefits from a more flexible mechanism and higher marketization as a private entity [7] - The company is actively recruiting talented teams to enhance R&D capabilities and expedite the launch of new products [8] Project Progress - Ongoing construction for the Xiangxiang and Zhuzhou Gaoke Park projects, which will relocate production lines for civil tantalum capacitors and other products to meet capacity expansion needs [8] - The company follows an open platform development model to foster growth in subsidiaries and quickly introduce new products to the market [9]

证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者调研接待记录表 编号：JL-2017-001 | --- | --- | --- | |----------------|--------------------|------------------------------------------| | | | | | | ■ | 特定对象调研 □分析师会议 | | 投资者关系活动 | □ | 媒体采访 □业绩说明会 | | | □ | 新闻发布会 □路演活动 | | 类别 | □ 现场参观 | | | | □ | 其他（请文字说明） | | 参与单位名称及 | | 广发证券股份有限公司 彭雾 | | 人员姓名 | | 易方达基金管理有限公司 何崇恺 | | | | 2017 年 12 月 19 日 | | 时间 | | 15:00 至 17:00 | | 地点 | | 株洲宏达电子股份有限公司办公楼三楼会议室 | | 上市公司接待人 | | 副总经理、董事会秘书：曾琛 | | | 证券事务代表：钟桑 | | | 员姓名 | 董秘办：郑雁翔 | | | --- | --- | --- ...

证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者关系活动记录表 编号：JL-2019-023 | --- | --- | |----------------|-----------------------------------------------------------| | | | | | √ 特定对象调研 £分析师会议 | | 投资者关系活动 | £ 媒体采访 £ 业绩说明会 | | 类别 | £ 新闻发布会 £路演活动 £ 现场参观 | | | £ 其他（请文字说明） | | 参与单位名称及 | 财富证券研究发展中心 何晨、司岩、吴迪 | | 人员姓名 | | | 时间 | 2019 年 9 月 27 日 9:30-11:30 | | 地点 | 株洲市天元区渌江路 2 号公司 6 号楼 202 会议室 | | 上市公司接待人 | 董事会秘书：曾垒 | | 员姓名 | 证券事务专员：郑雁翔 | | 投资者关系活动 | 主要活动综述： | | 主要内容介绍 | 一、播放公司 PPT 资料； | | --- | --- | |-------|----------------- ...

Group 1: Industry Trends and Market Dynamics - The global trend in electronic products is shifting towards high performance and miniaturization, with surface mount technology gradually replacing traditional assembly methods [3] - The demand for military tantalum capacitors is increasing significantly due to rising military project investments and the entry of various equipment into research and production phases [3][4] - The military tantalum capacitor market in China is primarily dominated by a few manufacturers due to strict government approvals and high entry costs [4] Group 2: Company Position and Competitive Advantage - The company is recognized as a national high-tech enterprise, possessing core technologies and patents for high-energy tantalum hybrid capacitors and polymer tantalum capacitors, which provides a technological edge [4] - The company has expanded its operational scale and improved production capacity utilization, particularly for core products like surface mount and polymer tantalum capacitors [5] - Future projects aim to further enhance production capacity for high-energy tantalum hybrid capacitors and polymer tantalum capacitors, increasing market share and competitiveness [5] Group 3: Product Comparison and Market Share - Ceramic capacitors and tantalum capacitors differ in technical difficulty and value, with ceramic capacitors having a higher market share due to their wide capacity range and favorable frequency characteristics [6] - Tantalum capacitors, while having a smaller market share due to higher costs, offer unmatched reliability and performance advantages in high-end applications [6]

证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者关系活动记录表 编号：JL-2019-016 | --- | --- | |----------------|--------------------------------------------------| | | | | | £ 特定对象调研£分析师会议 | | 投资者关系活动 | £ 媒体采访£业绩说明会 | | 类别 | £ 新闻发布会 £ 路演活动£现场参观 | | | √ 其他（请文字说明） 东北证券秋季 上市公司交流会 | | | 海通证券 谭阶飞 | | | 大成基金 岳苗 | | 参与单位名称及 | 南方基金 邹承原 | | 人员姓名 | 前海泉达 张旭翔 | | | 中资产业 于双 | | | 摩根士丹利华鑫基金 司巍 | | 时间 | 2019 年 9 月 5 日 10:00-13:00 | | 地点 | 深圳东海朗廷酒店 | | 上市公司接待人 | 董事会秘书：曾垒 | | --- | --- | |----------------|------------------------------------- ...

证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者关系活动记录表 编号：JL-2019-009 | --- | --- | --- | |----------------|------------------------|--------------------------------------| | | R | 特定对象调研 £分析师会议 | | 投资者关系活动 | | £媒体采访 £业绩说明会 | | 类别 | £ 新闻发布会 | £ 路演活动 | | | | £现场参观 £其他（请文字说明） | | 参与单位名称及 | 国海证券 邹刚 | | | 人员姓名 | | | | 时间 | 2019 年 7 月 4 | 日 14:00-15:30 | | 地点 | 株洲市天元区渌江路 | 2 号公司 6 号楼 208 会议室 | | 上市公司接待人 | 董事会秘书：曾垒 | | | 员姓名 | 证券事务专员：郑雁翔 | | | 投资者关系活动 | 主要活动综述： | | | 主要内容介绍 | 一、播放公司 | PPT 资料； | | | 二、机构提问交流； | | | --- | - ...

证券代码：300726 证券简称：宏达电子 株洲宏达电子股份有限公司 投资者关系活动记录表 编号：JL-2019-010 | --- | --- | --- | |----------------|-------------------------|--------------------------------------| | | | | | | R | 特定对象调研 £分析师会议 | | 投资者关系活动 | | £媒体采访 £业绩说明会 | | 类别 | £ 新闻发布会 | £ 路演活动 | | | | £现场参观 £其他（请文字说明） | | 参与单位名称及 | | 中国国际金融股份有限公司 陈珺诚 | | 人员姓名 | | | | 时间 | 2019 年 7 月 19 | 日 9:00-11:00 | | 地点 | 株洲市天元区渌江路 | 2 号公司 6 号楼 208 会议室 | | 上市公司接待人 | 董事会秘书：曾垒 | | | 员姓名 | 证券事务代表：钟桑 | | | 投资者关系活动 | 主要活动综述： | | | 主要内容介绍 | 一、播放公司 | PPT 资料； | | | 二、机构提问 ...