编号: 2025-001 | 投资者关系活 | 团特定对象调研 □分析师会议 □媒体采访 | | --- | --- | | 动类别 | □业绩说明会 | | | 口其他(申话会议) 团现场参观 | | 参与单位 | 富国基金 | | 时间 | 2025年1月6日14:00-15:00 | | 地点 | 1#楼5层 会议室(一) | | 上市公司接待 | 冯静女士、潘敏涛先生、金少明先生 | | 人员 | | | 投资者关系活 | 1、国标出台之后 ecal1系统是否变成强制安装? | | 动主要内容 | 答:AECS 国标属于强制性规范,该标准如实施后,eCa11 | | | 系统将会强制标配于每台在中国销售的乘用车,其他车辆也 | | | 会参照执行。目前,部分汽车主机厂也对车型设计做了预留, | | | 符合国标的产品要实现量产的所有相关工作正常应该在国标 | | | 实施前基本完成。由于法规尚未出台,具体涵盖范围以出台 | | | 法规为准。 | | | 2、请问 eCa11 有什么技术门槛? 公司在 ecall 的竞争 | | | 优势是什么? | | | 答: eCa11 终端是继安全带和安全气囊 ...

Group 1 - The stock of Huihan Co., Ltd. increased by 18.38% with a trading volume of 8.61 billion yuan and a turnover rate of 25.86% [1][2] - Institutional net buying amounted to 33.46 million yuan, while the Shenzhen Stock Connect recorded a net buying of 55.73 million yuan [1][2] - The top five trading departments had a total transaction volume of 301 million yuan, with net buying of 103 million yuan after accounting for selling [2]

Investment Rating - The report gives the company a "增持" (Overweight) rating, indicating a positive outlook for its stock performance relative to the market index [8][13] Core Views - The company is a leader in the vehicle networking and IoT sectors, with strong partnerships with major OEMs and Tier suppliers [1] - The company's eCall automotive safety terminals are installed in multiple models from SAIC, BYD, and other major automakers, benefiting from the upcoming national standard AECS [1][2] - The company's TBox product line is well-positioned for future growth, with a backlog of 7.96 million units as of February 2024 [1] - The company has completed the development and mass production of 5G-TBox products, which are expected to benefit from increased penetration and substitution of foreign products [1] Financial Performance - Revenue for 2024Q1-Q3 was RMB 735 million, a YoY increase of 32.95%, with net profit attributable to shareholders of RMB 135 million, up 44.72% YoY [1] - Gross margin and net margin for 2024Q1-Q3 were 29.59% and 18.35%, respectively, up 2.84 and 1.49 percentage points YoY [1] - Revenue from TBox products in 2023 was RMB 334 million, while eCall terminal product revenue grew from RMB 35 million in 2021 to RMB 303 million in 2023 [1][2] - Forecasted revenue for 2024-2026 is RMB 1.095 billion, RMB 1.465 billion, and RMB 1.956 billion, with YoY growth rates of 34.7%, 33.7%, and 33.5%, respectively [12] - Forecasted net profit attributable to shareholders for 2024-2026 is RMB 185 million, RMB 258 million, and RMB 351 million, with YoY growth rates of 44.9%, 39.5%, and 36.2%, respectively [12] Market and Industry Insights - The company has deep market accumulation in the eCall sector, with certifications from the EU, UAE, and Dubai, and its products are installed in models from SAIC, Chery, Geely, Great Wall, BYD, and NIO [2] - The national standard for AECS is in the approval stage, and the company is expected to benefit significantly from its implementation [2] - The company's 5G-TBox products are expected to see increased penetration and substitution of foreign products, driving future growth [1]

证券代码：301600 证券简称：慧翰股份 公告编号：2024-015 慧翰微电子股份有限公司股票交易异常波动公告 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。 一、 股票交易异常波动的具体情况 慧翰微电子股份有限公司（以下简称"公司"）股票连续 3 个交易日（即： 2024 年 12 月 18 日- 20 日）收盘价涨幅偏离值累计超过 30％，根据《深圳证券 交易所交易规则》的规定，属于股票交易异常波动的情形。 二、 公司关注并核实的相关情况说明 针对公司股票交易异常波动情况，公司董事会对公司、控股股东、实际控制 人就相关事项进行了核查，现将有关情况说明如下： 1、公司前期披露的信息不存在需要更正、补充之处； 2、公司未发现近期公共传媒报道了可能或已经对公司股票交易价格产生较 大影响的未公开重大信息；公司于 2024 年 12 月 6 日发布《关于股票交易异常波 动公告》，详见公司指定信息披露网站（www.cninfo.com.cn）和《证券时报》相 关内容； 3、公司近期经营情况正常，内外部经营环境未发生重大变化； 4、公司、控股股东和实际控制人不存在关 ...

证券代码：301600 证券简称：慧翰股份 慧翰微电子股份有限公司 2024 年 12 月 13 日投资者关系活动记录表（二） | --- | --- | |--------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

证券代码：301600 证券简称：慧翰股份 慧翰微电子股份有限公司 2024 年 12 月 13 日投资者关系活动记录表（一） | --- | --- | --- | |----------------------------------|----------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

证券代码：301600 证券简称：慧翰股份 公告编号：2024-014 慧翰微电子股份有限公司 关于股票交易异常波动公告 本公司及监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。 一、 股票交易异常波动的具体情况 慧翰微电子股份有限公司（以下简称"公司"）股票连续 3 个交易日（即： 2024 年 12 月 4 日-6 日）收盘价涨幅偏离值累计超过 30％，根据《深圳证券交 易所交易规则》的规定，属于股票交易异常波动的情形。 二、 公司关注并核实的相关情况说明 针对公司股票交易异常波动的情况，公司董事会通过电话及现场问询的方式， 就相关问题对公司控股股东、实际控制人及全体董事、监事、高级管理人员进行 了核查，现将有关情况说明如下： 1、公司前期披露的信息不存在需要更正、补充之处； 2、公司未发现近期公共传媒报道了可能或已经对公司股票交易价格产生较 大影响的未公开重大信息； 3、公司近期经营情况正常，内外部经营环境未发生重大变化； 4、公司、控股股东和实际控制人不存在关于公司的应披露而未披露的重大 事项，也不存在处于筹划阶段的重大事项； 5、股票异常波动期间公司控股股东、 ...

证券代码：301600 证券简称：慧翰股份 慧翰微电子股份有限公司 2024 年 12 月 4 日投资者关系活动记录表（二） | --- | --- | --- | --- | |------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|-------------------| | | | | | | 投资者关系活 动类别 | 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 ☑ 其他（电话会议） | | | | 参与单位 ...

证券代码：301600 证券简称：慧翰股份 慧翰微电子股份有限公司 2024 年 12 月 4 日投资者关系活动记录表（一） | --- | --- | |-------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

Group 1: National Standard AECS Overview - The national standard "Automotive Emergency Call System (AECS)" is currently under review, with a draft released on June 18, 2024, and expected to be published in 2025 [1][2] - AECS is a mandatory standard that significantly differs from existing systems like B-Call and I-Call, which primarily focus on roadside assistance and lack the comprehensive safety features required by AECS [1] - The AECS aims to enhance the efficiency of emergency response and reduce traffic accident fatalities through rigorous testing and high standards for components [1] Group 2: Company Production Capacity and Strategy - Following the implementation of AECS, every passenger vehicle will be required to be equipped with the eCall system, positively impacting market demand for the company [2] - The company employs a hybrid production model, utilizing both in-house manufacturing and outsourcing for non-core components, ensuring quality control and flexibility in production capacity [2] - Plans for capacity expansion will align with market demand, with the company prepared to scale production lines as needed [2] Group 3: Automotive Electronics and Industry Trends - The automotive electronics architecture is shifting towards domain-centric designs, integrating multiple electronic control unit functions to reduce costs and development complexity [2] - The company is positioned to leverage its experience in information communication to enhance its product offerings in the smart automotive sector [2] - The development of vehicle-to-everything (V2X) communication capabilities is becoming essential, with the company focusing on integrating these technologies into its product line [3] Group 4: Client Relationships and Market Position - SAIC Motor Corporation remains the company's largest client, accounting for 38.77% of revenue in 2023, reflecting a stable and long-term partnership [3] - The company has been recognized for its technical capabilities, contributing to the successful launch of SAIC's first smart connected vehicle project [3]