Group 1: Company Overview - The company is Guangli Technology Co., Ltd., with stock code 300480 and bond code 123197 [1] Group 2: Investor Relations Activities - The investor relations activities included a site visit and a telephone conference on March 10 and 11, 2026 [2] - Key participants included representatives from various investment firms such as Everbright Yuming, Taiping Asset, and CITIC Securities [2] Group 3: Semiconductor Business Performance - The company's semiconductor machinery has been in full production since July 2025, with continuous increases in order volume [2] - The company aims to accelerate the verification process of new products, including laser slotting machines and grinding machines, to generate sales orders [2][3] Group 4: Product Compatibility and Customization - The company's blades are universal consumables compatible with various brands of slicing machines, with soft blades used for cutting integrated circuits and hard blades for silicon wafers [3] - The company offers over twenty models of mechanical slicing equipment, with a gradual increase in sales of high-end customized models since 2025 [3] Group 5: Revenue and Profitability - The gross margin for the semiconductor business is projected to exceed 40% in 2024, with expectations for further improvement as high-end customized equipment sales increase and core components are integrated [3]

Group 1: Business Performance - The company's semiconductor business has been in full production since July 2025, with consistent shipment volumes and increasing new orders in Q4 2025 and Q1 2026 [2][3] - Revenue from the semiconductor and IoT safety monitoring businesses is approximately equal, each accounting for about 50% of total revenue as of mid-2025 [2][3] - The gross margin for the semiconductor business is expected to exceed 40% in 2024, with further improvements anticipated as high-end collaborative equipment sales increase and self-developed core components are integrated [3] Group 2: Product Development - The company is currently validating its laser slotting machines, laser cutting machines, and grinding machines at client sites, with efforts to expedite the development of integrated grinding and polishing machines [3] - The product structure of the domestic semiconductor equipment shows that standard models dominate shipments, but the sales proportion of high-end collaborative models is gradually increasing [3] Group 3: Market and Product Insights - Soft blades are primarily used for cutting various integrated circuit packaging types and hard materials, while hard blades are used for cutting silicon wafers and compound semiconductors [4] - The company’s subsidiary, ADT, has a stable and reliable soft blade product that has been well-received by global clients, including leading packaging and testing companies [4] Group 4: Convertible Bond Information - As of March 9, 2026, the company's stock price has been above 130% of the convertible bond's conversion price of 21.15 CNY per share for 12 trading days [5] - The company will carefully evaluate whether to exercise the redemption rights of the convertible bond if the conditions for conditional redemption are met in the future [5]

Group 1: Semiconductor Business Performance - In Q1 2026, the company's semiconductor business continues to maintain a high demand with full production capacity and increasing new orders [2][3] - The global semiconductor equipment market is expected to reach historical highs from 2025 to 2027, driven by AI [3] - The company’s production capacity is set to triple with the completion of the second phase of the aviation port project, expected in Q1 2027 [3] Group 2: Product Development and Applications - The company's laser slicing machines are being validated for use with Low-k films, aluminum nitride, and other materials [3][4] - The domestic semiconductor mechanical slicing equipment matches the performance of international leading models, gaining recognition from major domestic customers [4] Group 3: Financial Outlook - The gross margin for the semiconductor business is projected to exceed 40% in 2024, with expectations for further improvement as high-end customized equipment sales increase [6] - The company is considering the conditional redemption of its convertible bonds if stock prices meet specified thresholds [8][9] Group 4: Operational Stability and Risk Management - The geopolitical situation in the Middle East has limited impact on the operations of the Israeli ADT factory, which remains stable and operational [6][7] - The company has established strong communication with clients to ensure order delivery and minimize external risks [7] Group 5: Product Offerings and Market Reach - The company’s air spindles are produced in both the UK and China, serving high-precision processing clients domestically and internationally [5] - The ADT subsidiary serves clients primarily in the US, Europe, Taiwan, and Southeast Asia, with a strong reputation in the semiconductor packaging equipment sector [9]

Group 1: Business Development - In Q1 2026, the company maintained a high production capacity for semiconductor slicing equipment, continuing the momentum from H2 2025 [2] - The IoT business remains stable, with efforts to enhance production efficiency and capacity to meet customer delivery demands [2] Group 2: Product Progress - The company is advancing its laser slicing machines and grinding machines, with ongoing client validation and development of a grinding and polishing integrated machine [2] - The domestic soft blade business is expected to see new growth opportunities in 2026, with several models already in mass production [3] Group 3: Client Base and Product Range - The company's air spindles are produced in the UK and China, serving high-precision processing clients in both domestic and international markets [4] - The 8230 model, a 12-inch dual-axis fully automatic wafer slicing machine, has the highest sales volume among domestic semiconductor slicing machines, with an increasing sales proportion of high-end models developed in collaboration with clients since 2025 [5] Group 4: Operational Stability - The geopolitical situation in the Middle East has limited impact on the operations of the Israeli subsidiary ADT, which remains stable and operational under government protection [6] - ADT's management has maintained communication with clients to ensure order delivery and minimize external disruptions, demonstrating strong risk management capabilities [6]