唯特偶作为电子装联和可靠性材料领域的引领企业，此次以赞助商及重要参与方身份深度融入，彰显了公司对越南市场的信心 及助力区域产业链升级的决心。 （来源：唯特偶） 新年伊始，"第四届越南制造投资论坛"暨"第七届中越韩制造企业年会" 在河内隆重举行。作为中、越、韩三国制造业领域最具 影响力的年度盛会，论坛汇聚了三国超过500位企业家、投资者与行业领袖，聚焦全球产业链重构下的 "越南机遇"，已成为把脉 区域制造趋势、促进深度合作与投资对接的高端价值平台。 01 立足越南 构建全方位本地化服务体系 唯特偶深度扎根越南市场，已实现从产品供应到全方位服务的本地化布局，为当地电子制造产业注入强劲动能。 全品类产品矩阵： 唯特偶越南公司供应锡膏、锡丝、助焊剂、清洗剂、三防漆、胶黏剂等全品类电子装联和可靠性材料，精准对接当地电子制造 产业需求。 高效优质服务网络： 依托中国总部产研基地，以及合规的仓储及冷链运输，唯特偶越南公司全力打造优质高效的产品服务；同时，公司积极构建包 含直销、代理、经销在内的立体化渠道网络，并组建了由本地高素质人才为核心的高效团队，为客户提供技术咨询、现场支持 等定制化服务。 截至目前，公司已与DBG、天 ...

Core Insights - The company, Weiteou, holds a leading position in the domestic microelectronic welding materials sector, particularly excelling in the solder paste and flux sub-segments [2] - The company has established long-term stable partnerships with numerous domestic and international clients, building a strong market reputation [2] - The company has successfully transitioned from electronic assembly materials to a dual focus on "electronic assembly + reliability materials," creating a comprehensive product matrix through a strategy of continuous external introduction and internal research [2]

Group 1: Core Technology and Business Strategy - The company's core technological barriers are established in fields such as ultra-fine particle welding materials and low-temperature high-reliability welding materials, successfully narrowing the technological gap with international leaders [1] - The company has implemented a "multi-product matrix" strategy, achieving a leap from a single electronic assembly materials segment to a dual-segment model of "electronic assembly materials + reliability materials" [2] - The reliability materials segment focuses on three technical dimensions: mechanics, corrosion resistance, and thermal properties, providing modular solutions that reduce procurement and management costs for clients [2] Group 2: Financial Performance and Cost Management - The company's net profit in Q3 increased due to higher product sales and effective cost control strategies [3] - Raw material costs, specifically tin and silver, have risen approximately 7% and 23% year-on-year, respectively; however, the company has established a "long-term agreement + futures" dual-hedging strategy to stabilize profits [4] Group 3: Client Base and Market Position - The company serves a diverse range of industries, including consumer electronics, telecommunications, and new energy vehicles, with notable clients such as ZTE, Gree Electric, and BYD [5] - The company has built a strong reputation and established long-term relationships with numerous domestic and international clients, effectively mitigating risks associated with industry cycles [5] Group 4: Emerging Markets and Future Growth - The rapid development of new industries such as electric vehicles and AI is driving demand for high-end microelectronic welding materials, which the company produces [6] - The company aims to become a global supplier of electronic assembly and reliability materials solutions, focusing on R&D innovation to create sustainable long-term value for shareholders [6] Group 5: Dividend Policy and Domestic Substitution - The company has maintained a high dividend payout ratio since its listing and plans to continue optimizing shareholder return mechanisms [7] - The company is actively pursuing domestic substitution strategies, achieving performance levels in core products that meet international standards, thereby capturing market share in key sectors [8]

Core Viewpoint - Weiteou is a leading domestic electronic assembly materials company with steady growth in revenue and profit [1] Company Overview - The company's core products include microelectronic soldering materials and supporting auxiliary materials, with significant advantages in solder paste and flux, ranking first and second in national sales respectively [1] - Revenue is projected to grow from 467 million yuan in 2018 to 1.212 billion yuan in 2024, with a 6-year CAGR of approximately 17% [1] - Net profit attributable to the parent company is expected to increase from 41 million yuan to 89 million yuan over the same period, with a 6-year CAGR of about 14% [1] Growth Drivers - The steady growth in revenue and profit is primarily due to the company's continuous deepening of cooperation with high-quality clients and the expansion into new fields and clients [1] - The electronic assembly materials business is anticipated to grow rapidly, transitioning from domestic substitution to global expansion [1] - The company is developing a reliable materials product matrix, with potential rapid growth in new energy and data center fire protection materials [1] Investment Rating - The company is expected to benefit significantly from the domestic substitution of microelectronic soldering materials and is actively exploring new materials to create new growth curves [1] - Considering the company's growth potential and safety margin, it has been given an "Accumulate" rating for the first time [1]

Group 1: Investor Relations Activities - The company participated in the "2025 Annual Shenzhen Listed Companies Investor Online Reception Day" on November 20, 2025 [1] - The event was held on the "Investor Relations Interactive Platform" [1] Group 2: Dividend Policy - The company aims to maintain a high dividend payout ratio, emphasizing long-term value creation and sustainable development for shareholders [2] Group 3: Production Capacity - Current production capacity utilization is operating efficiently across major product lines, with plans to further enhance capacity and operational efficiency [2] Group 4: Market Position and Competitive Advantage - The company holds a leading position in the domestic microelectronic welding materials sector, particularly in solder paste and flux, supported by advanced technology and stable product quality [2] Group 5: Supply Chain Management - The company does not rely on a single supplier for key raw materials like tin and silver, with no single supplier accounting for more than 50% of purchases from the top five suppliers in 2024 [2] - A multi-layered response mechanism is in place to manage raw material price fluctuations, including long-term partnerships with major tin mining companies and a product pricing mechanism linked to raw material costs [2] Group 6: Shareholder Actions - The controlling shareholder's planned reduction of holdings is the first since the company's listing, driven by personal financial needs, with no intention to affect stock prices [3]

Core Viewpoint - The company, Weiteou, is experiencing significant growth in the microelectronics welding materials sector, particularly in solder paste and flux, driven by strong sales and strategic expansion into reliability materials [2][3][4]. Group 1: Competitive Advantages - Weiteou holds a leading position in the domestic microelectronics welding materials market, with notable strengths in solder paste and flux segments [2]. - The company employs a dual strategy of "external introduction and internal research" to expand from a single electronic assembly materials segment to a dual focus on "electronic assembly materials + reliability materials" [2]. - Key competitive advantages include strong independent R&D capabilities, a high customer retention rate with over 4,000 cooperative clients, and enhanced scale and cost control following its IPO [2]. Group 2: Performance Growth - In the first half of 2025, Weiteou achieved a revenue of 664 million yuan, marking a year-on-year increase of 26.74%, with a gross profit increase of 9.71% [3]. - The first quarter saw revenues of 309 million yuan, up 43.17% year-on-year, while the second quarter revenues reached 355 million yuan, reflecting a 15.21% increase [3]. - The net profit attributable to shareholders was 42.18 million yuan, driven by increased product sales, particularly a 17% rise in solder paste sales compared to the previous year [3]. Group 3: Reliability Materials Expansion - The company is actively expanding its reliability materials segment through strategic resource integration and seeking quality acquisition targets [4]. - Successful product categories include electronic adhesives and conformal coatings, providing one-stop modular solutions to global clients, thereby enhancing customer loyalty and market barriers [4]. Group 4: Operational Strategy and Capacity Utilization - The company is focusing on cost control amid increased strategic investments by optimizing business processes and enhancing financial management [5]. - Collaborative efforts across departments aim to reduce costs and improve efficiency, with a stable production capacity utilization rate across major product lines [5]. Group 5: Future Plans and Opportunities - In the second half of the year, Weiteou plans to focus on strategic emerging sectors, emphasizing product high-endization, cost precision, and digital operations for sustainable growth [6]. - The company will enhance R&D investments to achieve international standards in certain products and will pursue a global strategy with localized production capabilities [6].

Company Overview - The company, Weiteou, maintains a leading position in the domestic microelectronic welding materials sector, particularly excelling in solder paste and flux categories [1][2] - It has established a comprehensive product matrix through a dual-driven strategy of "external introduction and internal research" [1][2] Core Competitive Advantages - **Technical Advantage**: The company has kept pace with industry trends for 27 years, ensuring product stability and cost control [2] - **Customer Resource Advantage**: Over 4,000 cooperative clients contribute to stable revenue due to high customer retention [2] - **Scale Advantage**: Enhanced financial strength and talent pool since going public, leading to improved R&D, production efficiency, and market pricing power [2] Financial Performance - In H1 2025, the company achieved revenue of CNY 664 million, a year-on-year increase of 26.74% [3] - Gross profit rose by CNY 9.64 million, with a growth rate of 9.71% [3] - Q1 revenue was CNY 309 million (43.17% YoY growth), while Q2 revenue reached CNY 355 million (15.21% YoY growth) [3] Revenue Growth Drivers - Revenue growth was primarily driven by a 17% increase in solder paste sales volume and rising raw material prices, which affected product pricing [4] Reliability Materials Segment - The company has expanded its business scope by integrating reliability materials into its product offerings, focusing on mechanical, anti-corrosion, and thermal technologies [5][6] Operational Strategies - The company has implemented measures to optimize business processes, enhance management capabilities, and control costs effectively [7] - Strategies include improving operational efficiency through digital management and hedging against metal price fluctuations [7] Capacity Utilization - Current production lines are operating efficiently based on customer demand, with plans to further enhance capacity utilization and operational efficiency [8] Future Plans - The company aims to focus on R&D innovation, talent supply chain, global markets, international capacity, and capital operations in H2 2025 [10] - It seeks to solidify its high-quality development framework amidst global industry adjustments [10] Domestic Substitution Progress - The company is actively increasing R&D investment to meet domestic substitution demands, achieving certain products that match international standards [11] International Expansion - The company has established a global presence with subsidiaries in regions like Hong Kong, Singapore, the USA, and Mexico, enhancing local production capabilities [12]

Financial Performance - The company's revenue for 2024 increased by 25.75% year-on-year, driven by steady sales growth across product lines and a 16.6% rise in raw material prices, which affected the sales prices of solder paste and related products [2] - The profit distribution plan for 2024 proposes a cash dividend of 8.00 CNY per 10 shares (including tax), totaling 68,022,400 CNY, along with a capital reserve increase of 4.5 shares for every 10 shares [6] Strategic Initiatives - The company is focused on enhancing gross margins through strategic investments in semiconductor and photovoltaic industries, continuous R&D, and risk management via futures hedging [1] - Future market expansion plans include a commitment to the "Six-Five Strategic Plan," targeting Southeast Asia and the Americas to increase global market share [2] Cost Control Measures - Effective cost control measures include optimizing business processes, improving financial management, and utilizing digital management to enhance operational efficiency [3] - The company aims to mitigate the impact of metal price fluctuations on gross margins through hedging strategies [3] Market Position and Competitive Advantage - The company holds a leading position in the domestic microelectronics soldering materials sector, particularly in solder paste and flux, supported by advanced technology and stable product quality [4] - A comprehensive product matrix has been established, transitioning from electronic assembly materials to reliability materials, enhancing market competitiveness [5] International Expansion - The company has established branches in six locations: Hong Kong, Singapore, Mexico, the USA, Vietnam, and Thailand, with plans for further international market development [6] - The focus is on strengthening brand presence and expanding market share globally through high-quality products and services [6] Collaboration and Partnerships - A strategic partnership with Shenzhen Youwei Gaole Technology Co., Ltd. was formed to enhance capabilities in the electronic adhesive market, with the company acquiring a 20% stake [7] - The collaboration aims to leverage both parties' strengths to expand the reliability materials sector [7] Customer Base - The company serves a diverse range of industries, including telecommunications, consumer electronics, and renewable energy, with notable clients such as Huawei, BYD, and Gree Electric [8]