陕西华达(301517)8月12日晚间公告，公司筹划以发行股份方式购买陕西华经微电子股份有限公司(简 称"华经微电子")100%股权，同时募集配套资金。公司股票8月13日起停牌。 公司拥有省级企业技术中心1个，省级劳模工作室1个，现为厚膜混合集成电路行业协会副理事长单位、 高新技术企业，近年来荣获国家级专精特新"小巨人"企业、国家知识产权优势企业等称号。 陕西华达披露的公告显示，陕西电子西京电气集团有限公司、河南摩海科技开发中心（有限合伙）、西 安聚源投资有限责任公司、陕西省产业投资有限公司持有华经微电子66.78%股权，上述公司已签署意 向协议，其余股东的交易意向尚在协商中。 （文章来源：证券时报网） 华经微电子官网公布的信息显示，该公司前身是成立于上世纪60年代的国营八九五厂，是国内投资建立 最早的厚膜混合集成电路专业化生产厂家，于1999年重组改制为陕西华经微电子有限公司，2002年由五 家股东共同发起设立为股份有限公司。 华经微电子专业从事厚膜混合集成电路、模块电源、电阻网络、射频器件、微波组件、光模块、电位 器、车用电路、传感器、变压器等产品的研发、生产、销售及服务，是航空、航天、船舶、兵器、电子 ...

公司拥有省级企业技术中心1个，省级劳模工作室1个，现为厚膜混合集成电路行业协会副理事长单位、 高新技术企业，近年来荣获国家级专精特新"小巨人"企业、国家知识产权优势企业等称号。 陕西华达披露的公告显示，陕西电子西京电气集团有限公司、河南摩海科技开发中心(有限合伙)、西安 聚源投资有限责任公司、陕西省产业投资有限公司持有华经微电子66.78%股权，上述公司已签署意向 协议，其余股东的交易意向尚在协商中。 华经微电子专业从事厚膜混合集成电路、模块电源、电阻网络、射频器件、微波组件、光模块、电位 器、车用电路、传感器、变压器等产品的研发、生产、销售及服务，是航空、航天、船舶、兵器、电子 等多个行业军用电子元器件合格供应商。 公司位于西安高新技术产业开发区电子工业园，注册资本8255万元，在册员工七百余人，中、高级以上 专业技术人员160余人，2024年末产值突破3.8亿元。公司现拥有厚膜混合集成电路生产线、膜固定电阻 网络生产线、玻璃釉电位器生产线、线绕电位器生产线和导电塑料电位器生产线等贯标生产线以及各类 民品生产线十余条，技术力量雄厚，研发能力强，硬件设施、产品技术水平均处于国内同行前列。 陕西华达（30151 ...

Summary of the Conference Call for Xinle Energy Company Overview - Xinle Energy holds a significant market share in carbon fiber and quartz fiber, effectively responding to price pressures in the military sector while continuously improving gross margins, showcasing strong profitability and risk resilience [2][3] - The company was established in 1997 and went public in 2017, with rapid growth in performance from 2020 to 2022, although it faced revenue declines in 2023-2024 due to a slowdown in industry demand [2][5][7] Financial Performance - Revenue reached 1.7 billion in 2022, but dropped to 900 million in 2023 due to industry demand slowdown [7] - Future revenue is projected to reach 4 to 5 billion, with military and civilian products each contributing around 2 billion [2][8] - The net profit margin is expected to remain around 15%, leading to profits exceeding 600 million, corresponding to a market value of over 20 billion [2][8] Strategic Positioning - Xinle Energy is positioned in the upstream to midstream segments of the power supply industry, with better order predictability than upstream passive component companies and superior performance realization compared to downstream manufacturers [10] - The company has a clear strategic layout, entering high-growth areas such as server power supplies, AI server power supplies, electric drives, and satellites [2][4] Growth Drivers - The special fields are identified as core growth points, benefiting from equipment ramp-up, industry concentration, and the domestic substitution cycle [11] - Demand is expected to recover significantly starting in 2025, particularly in military and missile sectors [11] Research and Development - Xinle Energy invests heavily in R&D, with R&D expenses reaching 400 million in 2024, accounting for a significant portion of total revenue [12] - The company maintains a high proportion of R&D personnel, with 46% of its workforce dedicated to R&D [12] Product Development and Market Expansion - The company has made significant advancements in data center power supply, completing domestic upgrades for power supplies ranging from 550W to 2,700W [15] - In 2024, server power supplies began testing with multiple clients, marking a critical development phase for the company [16] - Xinle Energy is actively expanding its domestic and international market presence, targeting major clients like Nvidia, Google, and Amazon [14] Future Outlook - The company anticipates a revenue recovery to around 1 billion in 2025, with a potential increase of 50% to 100% in special fields [18] - By 2026, revenue is expected to exceed 2 billion, with military products contributing approximately 1.5 billion and civilian products at least 500 million, leading to a profit of around 300 million [18] Conclusion - Xinle Energy demonstrates a robust growth trajectory with a clear strategic focus on high-potential sectors, strong R&D capabilities, and a favorable market position, indicating a promising outlook for future performance and profitability [2][8][12]