2026年2月26日，风华高科披露接待调研公告，公司于2月25日至2月26日接待淡水泉、西部证券、长江 证券、华商基金、太平洋证券、华泰证券等104家机构调研。 调研情况显示，风华高科当前已形成智能终端、工控、汽车电子及家电等主要市场，同时正加快布局 AI算力、低空经济、储能等新兴应用领域，高端产品与特殊产品占比稳步提升，高端化转型进程加 快；电子信息产业技术革新预计带动终端更新换代及电子元器件需求增长，新兴技术应用提升终端电性 能要求，推动元器件单机用量增加，公司将紧抓机遇加大研发以提升竞争力。公司主营产品产能利用率 维持较高水平，正推进MLCC、片式电阻器和电感器等新增产能建设，加快产品结构调整助力高端转 型。 风华高科已于去年四季度结合原材料价格上涨情况，对片式电阻器、电感器等部分产品进行价格调整； 后续将根据市场供求、客户及产品结构等因素调整价格策略。公司在新兴领域持续发力，以市场为导向 加快高端产品研发，高端品需满足更大瞬时电流波动、更高功率等要求；公司拥有材料、产品、装备三 位一体产业布局，可及时响应客户需求，提供一站式配套采购服务。 风华高科十五五期间将持续聚焦主业，围绕"3＋2"业务战略，做强 ...

证券代码：000636 证券简称：风华高科 | 投资者关系活 | 特定对象调研 | 分析师会议 | □媒体采访 | | --- | --- | --- | --- | | 动类别 | □业绩说明会 | 新闻发布会 | □路演活动 | | | 现场参观 | 其他 券商策略会 | | | | 西部证券、长江证券、华商基金、太平洋证券、华泰证券、德邦证券、开源证 | | | | | 券、淡水泉、高毅、浦银、融通上海、国泰基金、鹏扬基金、利幄基金、财通 | | | | | 基金、华宝基金、泉果基金、兴业基金、兴银基金、华泰保兴基金、汇添富基 | | | | | 金、圆信永丰基金、晨曦基金、摩根基金、嘉实基金、国金基金、万家基金、 | | | | | 长盛基金、易方达基金、交银基金、中银基金、华夏基金、中信保诚基金、中 | | | | | 庚基金、金鹰基金、长信基金、嘉和基金、鑫元基金、西部利得基金、博道基 | | | | | 金、恒越基金、永赢基金、福泽源基金、天治基金、南华基金、华富基金、上 | | | | 参与单位 | 银基金、淳厚基金、博衍基金、人保资产、浙商资管、国信资管、长江资管、 | | | | ...

Core Viewpoint - Guangdong Fenghua Advanced Technology Co., Ltd. has been recognized as a "Provincial Manufacturing Single Champion Enterprise" for its multilayer ceramic capacitors (MLCC), highlighting its leading position in the electronic components sector and its commitment to innovation and domestic production [1][2]. Group 1: Company Achievements - Fenghua High-Tech's MLCC products have achieved advanced levels in capacity range, reliability, consistency, and miniaturization, making significant contributions to the domestic MLCC industry [4]. - The company has established deep strategic partnerships with leading clients across various sectors, accelerating the domestic replacement of MLCC products and enhancing supply chain autonomy [4][5]. - Fenghua High-Tech has received numerous accolades, including being recognized as a "Famous Brand in Guangdong Province" and a "China Famous Brand," further solidifying its market influence [7]. Group 2: Technological Advancements - The company maintains a strong focus on R&D, developing a comprehensive technology system that covers materials, components, and applications, with a total of 784 authorized patents as of 2025 [6]. - Fenghua High-Tech is actively addressing technical challenges in high-capacity and automotive-grade MLCC products, while also excelling in core processes such as low-temperature co-firing technology [6]. Group 3: Market Position and Future Outlook - The company is positioned as a key player in the MLCC market, with a significant market share and a strong presence in emerging sectors such as 5G communication, new energy vehicles, and artificial intelligence [4][5]. - Fenghua High-Tech aims to contribute to the transformation of China from a "manufacturing giant" to a "manufacturing power" by focusing on quality and innovation in its operations [8].

Core Viewpoint - Fenghua High-Tech (000636) is focusing on high-end transformation and upgrading of its product structure through continuous technological innovation and market expansion, particularly in emerging market applications [1] Group 1: Company Developments - The company’s subsidiary, Guangdong Guohua New Materials Technology Co., Ltd., has developed microwave ceramic devices that are now applied in satellite terminals [1] - The product range includes MLCCs, chip resistors, inductors, and supercapacitors, indicating a comprehensive series of electronic components [1] Group 2: Market Strategy - The company plans to closely monitor emerging market application areas and strategically position itself based on market demand [1] - The focus on technological innovation and market development aims to drive the company’s product structure towards high-end applications [1]

Core Viewpoint - The company is focusing on high-end transformation and upgrading of its product structure through continuous technological innovation and market expansion, particularly in emerging market applications [1] Group 1: Company Developments - The company's subsidiary, Guangdong Guohua New Materials Technology Co., Ltd., has developed microwave ceramic devices that are now applied in satellite terminals [1] - The product range includes MLCCs, chip resistors, inductors, and supercapacitors, indicating a comprehensive series of electronic components [1] Group 2: Market Strategy - The company plans to closely monitor emerging market application areas and strategically position itself to meet market demand [1] - The focus on technological innovation and market-driven approaches aims to enhance the company's competitiveness in aerospace-related fields [1]

Core Viewpoint - The company is actively involved in the aerospace sector through its subsidiary, which has developed microwave ceramic devices for satellite terminals, indicating a strategic focus on high-end product applications in emerging markets [1] Group 1: Product Applications - The company's subsidiary, Guangdong Guohua New Materials Technology Co., Ltd., produces microwave ceramic devices that are already applied in satellite terminals [1] - The product range includes MLCCs, chip resistors, inductors, and supercapacitors, showcasing a comprehensive portfolio of electronic components suitable for aerospace applications [1] Group 2: Strategic Focus - The company plans to closely monitor emerging market applications and strategically position itself to meet market demands [1] - There is an emphasis on continuous technological innovation and market expansion to drive the upgrade of the company's product structure towards high-end offerings [1]

Group 1 - The company, Fenghua Advanced Technology (000636), specializes in electronic components such as MLCCs, chip resistors, and inductors, which are referred to as the "rice of the electronic industry" [1] - These components are fundamental to the electronic information industry and are widely used in various downstream terminal applications within the electronic information industry chain [1]

Core Viewpoint - Fenghua High-Tech (000636) has been deeply engaged in the electronic components industry for over 40 years, showcasing a comprehensive industrial system, strong R&D capabilities, diverse market applications, and significant brand influence [1] Group 1: Company Strengths - The company possesses five national-level innovation platforms [1] - It is recognized as a "chain leader" in the basic electronic components industry in Guangdong Province [1] - Core products, including chip resistors and chip capacitors, are both classified as "national-level manufacturing single champion products" [1]

Core Insights - The company has established a deep collaboration with a leading domestic AI server client, focusing on capacity expansion and product price adjustments [1][2] - The company's main product capacity utilization rate remains high for the first three quarters of 2025, with ongoing plans to enhance production of MLCCs, chip resistors, and inductors [1][2] - Due to the continuous rise in raw material prices, the company has recently adjusted prices for certain products, including inductive magnetic beads and varistors [1][2] - The electronic components industry is highly competitive, and the company will adjust its pricing strategy based on market supply and demand, customer needs, and product structure [1][2]

Core Insights - The company has established deep cooperative relationships with leading domestic AI server clients [1] - The production capacity utilization rate of the company's main products remains high through the first three quarters of 2025 [1] - The company is advancing the construction of new production capacity for its main products, including MLCC, chip resistors, and inductors [1] Pricing Strategy - The company has recently adjusted prices for certain products, such as inductive beads and varistors, in response to the ongoing rise in raw material prices [1] - The company operates in a highly competitive electronic components industry and will adjust its pricing strategy based on market supply and demand, customer needs, and product structure [1]