Company Overview - Hongda Electronics is a high-tech enterprise specializing in the R&D, production, and sales of electronic components and circuit modules, with over 20 years of experience in the industry [2][3] - The company has advanced production lines and holds multiple core technologies and patents, making it a leader in the domestic high-reliability tantalum capacitor market [3] Financial Performance - In the first three quarters of 2020, the company achieved a revenue of 937 million CNY, representing a year-on-year growth of 49.03% [3] - The net profit attributable to shareholders was 336 million CNY, with a year-on-year increase of 39.99% [3] - The third quarter alone saw a revenue of 145 million CNY, marking a significant year-on-year growth [4] Customer Structure and Market Demand - The main customer segments include aerospace, electronics, and military sectors, with the aerospace sector being the largest contributor to revenue [4] - The fastest growth in revenue and orders is observed in the aerospace sector [4] Business Expansion and Subsidiaries - The company has expanded its product line beyond tantalum capacitors to include MLCC, SLCC, and power modules, with subsidiaries like Guantao Electronics and Hongwei Electronics showing significant growth [5][6] - Revenue from subsidiary products now accounts for over 30% of total company revenue, indicating a shift in growth drivers [5] Future Development Strategy - The company plans to maintain its leading position in high-reliability tantalum capacitors while investing in MLCC, SLCC, and power module products [6][7] - The focus will also be on expanding into civilian product markets, particularly in telecommunications, automotive electronics, and IoT [7] Production Capacity and Cash Flow - The company has a flexible production capacity model, with ongoing projects aimed at enhancing production capabilities for civilian products [8] - The cash flow is currently low due to long payment cycles in the high-reliability sector, but this has not adversely affected operations [8] New Product Development - Key new products include multilayer ceramic capacitors, power modules, and high-power density power products, with significant investments planned to enhance production capacity and market presence [9][10] Competitive Advantages - The company has established a strong sales network and technical expertise, with over 2,000 customers, positioning it favorably against competitors [10] - The strategy includes leveraging existing advantages to provide comprehensive electronic component solutions rather than just individual products [10]

Company Overview - Hongda Electronics is a high-tech enterprise specializing in the R&D, production, and sales of electronic components and circuit modules, with over 20 years of experience in the industry [3] - The company has more than ten advanced production lines for electronic components and circuit modules, including seven high-reliability production lines, and holds multiple core technologies and patents [3] Product Range - The product portfolio includes tantalum capacitors, multilayer ceramic capacitors, thin film capacitors, aluminum capacitors, inductors, transformers, resistors, microwave components, and power modules [3] - Revenue from products contributes over 30% to the company's total revenue, becoming a new growth driver [6] Order and Delivery Cycle - The order delivery and payment cycle is generally around 12 months, influenced by customer inspection and acceptance processes [4] - The company operates on a make-to-order basis due to the small batch and multiple batch characteristics of high-reliability electronic components [4] Subsidiary Development - Since 2014, the company has adopted an open platform development model, enhancing collaboration with domestic and international technical teams [5] - Major subsidiaries include Guantao Electronics (MLCC production) and Hongwei Electronics (power module production), both showing significant growth in recent years [5] Market Strategy - The company aims to expand its market share in high-reliability fields by leveraging existing advantages in qualifications, R&D, and marketing [6] - Future product development will focus on high-end and differentiated technologies, with an emphasis on providing comprehensive solutions rather than just individual components [7] Future Plans - The company plans to scale up production of consumer products, with the Xiangjun Electronics project set to launch mass production of consumer-grade tantalum capacitors [8] - Continued investment in 5G communication and sensor fields is anticipated to enhance market competitiveness [8]

Financial Performance - In 2020, the company achieved operating revenue of 1.4 billion CNY, a year-on-year increase of 65.97% [2] - The net profit attributable to shareholders was 484 million CNY, up 65.12% year-on-year [2] - Revenue from high-reliability tantalum capacitors grew approximately 43%, while civilian tantalum capacitors saw nearly 100% growth [2][3] - Non-tantalum capacitors and new products from subsidiaries generated about 540 million CNY in revenue, a year-on-year increase of approximately 121%, accounting for 38.8% of total revenue [2] Business Growth Drivers - The growth was driven by two main factors: completion of projects under the "13th Five-Year Plan" and increased demand for high-reliability market orders due to international geopolitical tensions [2] - The pandemic disrupted global electronic component supply chains, leading to a rapid increase in domestic demand for civilian electronic components [2] Product Performance - Revenue from microcircuit modules increased by 109.43% year-on-year, while ceramic capacitors grew by 62.19%, becoming new growth drivers for the company [3] - The company is focusing on diversifying its product offerings, with non-tantalum products accounting for 38.8% of total revenue [3] Market Position and Strategy - The company aims to establish itself as a leading high-reliability electronic group with core technologies and significant influence [3] - Plans to enhance operational capabilities and improve capital efficiency to support entrepreneurial ventures and innovative businesses [3] Production and Capacity - The company has strategic plans for capacity construction based on actual development needs, with ongoing projects for civilian tantalum capacitor production [4][5] - The production of high-reliability products is characterized by small batch and multiple batches, allowing for flexible capacity adjustments [4]

Company Overview - Hongda Electronics is a high-tech enterprise specializing in the R&D, production, and sales of electronic components and circuit modules, with over 20 years of experience in the industry [2] - The company operates more than ten advanced production lines for electronic components and circuit modules, including seven high-reliability standard lines, and holds multiple core technologies and patents in the field of high-reliability tantalum capacitors [2] Financial Performance - Business revenue accounts for nearly 30% of the company's total operating income, with a doubling trend in overall orders for non-tantalum capacitors in 2020, particularly for MLCC products which saw an increase of over 70% [3] - The company's tantalum capacitor business maintained a growth rate of approximately 35%-40% in 2020, while non-tantalum capacitor products are in a rapid development phase with overall orders also showing a doubling trend [4] Future Outlook - The company plans to continue investing in new products and expanding production capacity to enhance market share and competitiveness in new product areas [3] - Current capacity planning is based on actual development needs, with two ongoing capacity construction projects expected to significantly boost production capabilities for civilian tantalum capacitors and other products by the second half of 2021 [4] Market Conditions - The civilian tantalum capacitor market experienced a near doubling in performance in 2020 due to increased domestic substitution demand and price hikes caused by the global pandemic [4] - Prices for high-reliability products are stable, while civilian product prices have risen due to supply shortages; however, prices are expected to stabilize as international suppliers resume production [5]

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-2021-002 | --- | --- | |-----------------------|-----------------------------------------------------| | | | | | £ 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 东吴证券 2020 年度业绩预告解读电话交流会 | | 参与单位名称及 | 东吴证券 王平阳、鲍娴颖 | | 人员姓名 | 等。 | | 时间 | 2021 年 1 月 19 日 16:00-17:00 | | 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 | 交流提问内容： | | 主要内容介绍 | 1、公司在新产品新业务上的发展模式主要是什么？公司在 | | --- | --- | |-------|----------------------- ...

编号：JL-2021-005 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 | --- | --- | --- | |-------------------------|-------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------| | | 特定对象调研 | 分析师会议 | | | 媒体采访 | 业绩说明会 | | 投资者关系活动 | 新闻发布会 | 路演活动 现场参观 | | 类别 | √ 其他 兴业证券 - | 宏达电子 2020 年报业绩交流会 | | | 中信证券 - | 宏达电子 2020 年报业绩交流会 | | 参与单位名称及 人员姓名 | | 兴业证券、中信证券、华泰证券、光大证券、广发证券、华商基 金、华夏基金、财通证券、景顺长城基金、泰康资产、华商基金、 诺安基金等机 ...

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-2021-006 | --- | --- | --- | |-------------------|-------------------------|---------------------------------------------------------------| | | | | | | 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 | | | 参与单位名称及 | 在线投资者 | | | 人员姓名 | | | | 时间 | 2021 年 3 月 31 | 日 15:00-17:00 | | 地点 | | "宏达电子投资者关系"小程序 | | | 董事长 钟若农 | | | 上市公司接待人 | 总经理 曾琛 | | | 员姓名 | 副总经理 毛云武 | | | | 董事会秘书、财务负责人 | 曾垒 | | | | 为了让广大投资者进一步了解公司 2020 年度经营情况和发展战 | ...

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-2021-001 | --- | --- | |----------------|-------------------------------------------------------------------------------------------------------------| | | | | | £ 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 | | 类别 | £ 新闻发布会 £路演活动 £ 现场参观 | | | √其他 2020 年度业绩预告解读电话交流会 | | | 信达证券 张润毅、应昭衍 | | | 兴业证券 石康、李博彦 | | 参与单位名称及 | 安信基金、博时基金、财通基金、方正富邦基金、工银瑞信基金、 | | 人员姓名 | 广发基金、国寿基金、华富基金、华商基金、华夏基金、华宝基金、 | | | 嘉实基金、金鹰基金、南方基金、长城基金、浦银安盛基金、长盛 | | | 基金、鹏华基金等。 | | | | | 时间 | 信达证券 ...

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-2021-008 | --- | --- | |-----------------------------|-------------------------------------------------------------------------------------------------------------------| | | | | | 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 | | 参与单位名称及 | 其他 兴业证券 - 宏达电子 2021 年第一季报业绩交流会 兴业证券、光大证券、西部证券、中银国际证券、东海证券、中 | | 人员姓名 | 国银河证券、华泰证券、海通证券、国泰基金、华夏基金、华富 基金、东吴基金、兴业基金、兴证全球基金 等在线投资者 | | 时间 | 2021 年 4 月 28 日 11:00-11:45 | | 地点 | 电话会议 | | 上市公司接待人 员姓名 | 证券事务代表 ...

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-2021-009 | --- | --- | --- | --- | --- | |-----------------------------|-------------------------|--------------------------------------------------|-------|--------| | | 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 天风证券 | - 宏达电子 2021 年第一季报业绩交流会 | | | | 参与单位名称及 | | 天风证券、华银基金、中邮创业基金、泰山财产保险、 | | 等在线 | | 人员姓名 | 投资者 | | | | | 时间 | 2021 年 4 月 29 | 日 10:00-10:45 | | | | 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 ...