Core Viewpoint - Junwei Electronics (301458.SZ) maintains a long-term partnership with Qualcomm, focusing on the supply of high-precision current sensing resistors for Qualcomm's power management and verification platforms [1] Group 1 - The company confirmed that it does not participate in the agency of the AI200 and AI250 AI chips mentioned, indicating that its collaboration is primarily at the component supply level rather than chip agency or distribution [1]

Core Viewpoint - Junwei Electronics (301458.SZ) maintains a long-term partnership with Qualcomm, focusing on the supply of high-precision current sensing resistors for Qualcomm's power management and validation platforms [1] Group 1 - The company confirmed that it does not participate in the agency of the AI200 and AI250 AI chips mentioned, indicating that its collaboration with Qualcomm is primarily at the component supply level rather than chip agency or distribution [1]

Core Viewpoint - The passive component market is experiencing significant price increases, particularly in tantalum capacitors, driven by rising demand from AI applications, with price hikes reported between 20% and 30% [1] Group 1: Price Increases and Market Impact - Kemet, a subsidiary of Yageo Group, has issued a price increase notice for tantalum capacitors, marking the second price hike this year, expanding the customer base from agents to direct sales [1] - The domestic passive component index saw an increase of nearly 5% over the first three trading days of the week from October 27 to 29 [1] Group 2: Financial Performance of Related Stocks - In 2024, over 20 stocks in the passive component industry are projected to achieve a combined net profit of nearly 6.6 billion, reflecting a year-on-year growth of 17.8%, reversing the decline seen in 2022 and 2023 [1] - For the first three quarters of this year, these stocks reported a net profit of nearly 5.8 billion, representing a year-on-year increase of nearly 12% [1] Group 3: Individual Stock Performance - Notable individual stocks with net profit growth exceeding 20% in the first three quarters include Shunluo Electronics, Dali Kipu, Tongfeng Electronics, Junwei Electronics, and Shunluo Electronics [1] - Among the over 20 stocks, only five have outperformed the passive component index's growth of 20.98% while also achieving a net profit growth of over 10% in the first three quarters: Tongfeng Electronics, Aihua Group, Dali Kipu, Fala Electronics, and Junwei Electronics, with the latter two having year-to-date growth below 5% [1]

Core Viewpoint - Junwei Electronics has successfully acquired 100% of Flat Electronics Co., Ltd., marking a significant step in its international expansion and business development strategy [2][3] Group 1: Acquisition Details - Junwei Electronics' wholly-owned subsidiary, Yokohama Electronics, has completed the acquisition of Flat Electronics Co., Ltd. for a cash payment of 2.6 billion yen [2] - The acquisition was approved during the 17th meeting of the first board of directors held on August 5, 2025 [2] Group 2: Strategic Implications - The acquisition is aligned with Junwei Electronics' long-term strategic planning, aiming to enhance its global manufacturing flexibility and diversify its brand and product offerings [2] - Flat Electronics, as a local Japanese manufacturer with deep technical expertise in thin-film resistors, will facilitate Junwei's entry into the thin-film resistor market [2] - The transaction is expected to accelerate Junwei's overseas business expansion and improve its overall competitive and profitability capabilities [2]

Core Viewpoint - Junwei Electronics announced the completion of the acquisition of 100% equity in Flat Electronics Co., Ltd. by its wholly-owned subsidiary Yokohama Electronic Devices Co., Ltd. The transaction has been fully paid and completed as of the announcement date [1] Group 1 - The first board meeting of the company was held on August 5, 2025, where the investment and acquisition proposal was approved [1] - The acquisition involves cash payment to the counterpart, Japan Xiechuang No. 1 Investment Limited Partnership [1] - Flat Electronics Co., Ltd. will be included in the company's consolidated financial statements following the completion of the equity transfer [1]

一、基本情况 证券代码：301458 证券简称：钧崴电子 编号：2025-049 钧崴电子科技股份有限公司 关于全资子公司对外投资暨收购股权进展的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 钧崴电子科技股份有限公司董事会 钧崴电子科技股份有限公司（以下简称"公司"）于 2025 年 8 月 5 日召开第一届 董事会第十七次会议审议通过了《关于全资子公司对外投资暨收购股权的议案》，同意 公司全资子公司株式会社横浜エレクトロニクス（Yokohama Electronic Devices Co., Ltd.） 以现金收购日本协创 1 号投资事业有限责任组合（以下简称"交易对手方"）所持有的 株式会社フラット电子（Flat Electronics Co., Ltd.）100%股权。具体内容详见公司于 2025 年 8 月 6 日在巨潮资讯网（http://www.cninfo.com.cn）上披露的《关于全资子公司对外 投资暨收购股权的公告》（公告编号：2025-033）。 二、进展情况 截至本公告披露之日，公司已按照协议约定向交易对手方支付了本次交易的全额 ...

Core Viewpoint - Junwei Electronics experienced a slight decline in stock price, with a trading volume of 174 million yuan and a net financing outflow of 11.87 million yuan on October 29, 2023 [1] Group 1: Financial Performance - As of September 30, 2023, Junwei Electronics reported a revenue of 573 million yuan for the first nine months of 2025, representing a year-on-year growth of 18% [2] - The net profit attributable to the parent company for the same period was 114 million yuan, reflecting a year-on-year increase of 25.27% [2] - Cumulative cash dividends since the A-share listing amount to 52.8 million yuan [2] Group 2: Shareholder and Market Activity - The number of shareholders for Junwei Electronics decreased by 18.87% to 20,100 as of September 30, 2023, while the average circulating shares per person increased by 23.25% to 3,215 shares [2] - The top circulating shareholder, Hong Kong Central Clearing Limited, increased its holdings by 746,900 shares to 898,200 shares [2] - The company had a total financing balance of 180 million yuan, accounting for 7.3% of its market capitalization [1]

Company Overview - The company specializes in the design, research and development, manufacturing, and sales of precision resistors and fuses for current sensing, with a strong market presence in both domestic and international markets [2][3]. - The brand names "华德", "Walter", "TFT", and "YED" have gained a good reputation among customers, establishing the company as a global leader in the precision current sensing resistor sector [2]. Financial Performance - In the first three quarters of 2025, the company achieved a revenue of ¥573,429,389.35, representing a year-on-year growth of 18.00% [4]. - The net profit attributable to shareholders was ¥114,174,886.97, reflecting a year-on-year increase of 25.27% [4]. - Growth was driven by seasonal demand in consumer electronics and significant orders from industrial and AI-related sectors [4]. Profitability and Market Position - The company maintains a high gross margin due to its strategic focus on high-tech segments, continuous R&D investment, and collaboration with leading industry clients [5]. - By targeting top-tier clients, the company achieves premium pricing and drives technological advancements, while also benefiting from economies of scale [5]. Product and Business Strategy - The core products include current sensing resistors and fuses, with a focus on deepening market penetration in traditional sectors like consumer electronics and home appliances [6]. - Future growth strategies involve expanding existing products into high-value sectors such as AI, industrial applications, automotive, and renewable energy [6]. M&A Strategy - The company adopts a cautious and synergistic approach to mergers and acquisitions, focusing on targets with similar business and technology profiles to minimize integration risks [7]. - The acquisition of Japan's Flat Electronics Co., Ltd. exemplifies this strategy, enhancing overseas market presence and adding value through complementary products and customer resources [7]. Overall Development Strategy - The company aims for growth through both organic and inorganic means, emphasizing R&D and product innovation while strategically pursuing acquisitions and partnerships [8]. - Recent acquisitions, such as that of Flat Electronics, are intended to enhance technology and product offerings while accumulating high-end customer resources [8].

Group 1 - The company does not directly hold equity in Songyan Power (Beijing) Technology Co., Ltd [1] - The company indirectly invests in Songyan Power through a 0.9474% stake in Beijing InnoDingxin Venture Capital Center (Limited Partnership) [1] - The company does not participate in the investment decision-making process of InnoDingxin, and the indirect shareholding in Songyan Power does not meet the disclosure standard, thus not constituting a significant influence or control [1]

Core Viewpoint - Junwei Electronics (301458.SZ) has shown strong operational performance, with significant growth in both revenue and net profit for the first three quarters of 2025, indicating a positive trajectory for the company in the global electronic components market [1][2]. Financial Performance - For the first three quarters of 2025, Junwei Electronics achieved revenue of 573 million yuan, representing an 18.00% year-on-year increase, and a net profit of 114 million yuan, reflecting a 25.27% increase [1][2]. - In Q3 2025, the company reported revenue of 219 million yuan, up 20.02% year-on-year, and a net profit of approximately 45.93 million yuan, which is a 26.89% increase [2]. - The gross margin for the first three quarters of 2025 reached a historical high of 50.69%, an increase of 2.42 percentage points compared to the same period in 2024 [2][4]. Business Operations - Junwei Electronics specializes in the design, research, development, manufacturing, and sales of precision resistors and fuses, with applications in smartphones, laptops, lithium battery protection boards, and emerging markets such as AI servers and energy storage [2][3]. - The company has expanded its global presence by establishing subsidiaries and sales teams in regions like the United States and Japan, while maintaining production bases in mainland China [3][4]. Market Position and Clientele - The company has a diverse client base, including major global companies such as Samsung, Xiaomi, Lenovo, and NVIDIA, which enhances its market competitiveness [3][4]. - As of 2025, the proportion of revenue from overseas markets has steadily increased, reaching 36.24% in the first half of 2025, with higher gross margins compared to domestic operations [4]. Research and Development - Junwei Electronics has consistently increased its R&D investment, with expenditures of 25.92 million yuan, 27.33 million yuan, and 23.24 million yuan for the years 2023 to the first three quarters of 2025, respectively [4]. - The company holds 126 patents, including 26 invention patents, which underscores its commitment to innovation and technology advancement [4]. Financial Health - As of September 2025, Junwei Electronics reported cash and cash equivalents of 729 million yuan and trading financial assets of 205 million yuan, indicating a strong liquidity position [5].