Group 1 - The company held an online investor relations event on September 19, 2025, to discuss key business developments [1] - The factory in Thailand is currently under renovation and is expected to be operational in Q1 2026 [1] - The Bay Area headquarters is anticipated to commence operations in Q4 2025, focusing on the production of various transformers and precision control equipment [1] Group 2 - The newly established subsidiary, Guangdong Weizhi Robot Manufacturing Co., Ltd., aims to enter the robotics sector, specializing in automated production of high-value magnetic components [1] - If fully operational, the new factories in the Bay Area and Thailand are projected to double the company's output [2] - The company's strategic expansion and business development plans are expected to attract market attention [2]

证券代码：301577 证券简称：美信科技 编号：2025-008 | | 特定对象调研 分析师会议 媒体采访 业绩说明会 | | --- | --- | | 投资者关系活动类别 | 新闻发布会 路演活动 | | | 现场参观 其他 | | 参与单位名称及人员姓名 | 参加 2025 年半年度网上集体接待日活动的投资者 | | 时间 | 年 月 日 2025 9 19 | | 地点 | 线上（全景路演） | | 上市公司接待人员姓名 | 董事会秘书 王丽娟 | | | 财务总监 刘满荣 | | | 交流主要内容如下： | | | 1、你好，请问公司东南亚建厂目前进度？ | | | 【回复】您好，感谢关注！公司在泰国设立的工厂目前在装 | | | 修阶段，预计 2026 年一季度投入使用。谢谢。 | | 投资者关系活动主要内容介绍 | | | | 2、问下公司大湾区厂区具体投入使用时间，主要生产哪些产 | | | 品？对公司业绩影响几何？ | | | 【回复】您好，感谢关注！公司湾区总部预计今年第四季度 | | | 投入使用，主要生产网络变压器、片式绕线电感、RF 射频变 | | | 压器、BM ...

Core Viewpoint - Meixin Technology (301577) reported a revenue increase of 2.98% to 205 million yuan in the first half of 2025, driven by an 8.71% growth in signal magnetic components despite market pressures in downstream industries [1] Group 1: Business Performance - The signal magnetic components business, a key revenue driver, achieved 148 million yuan in revenue, growing 8.71% year-on-year, benefiting from advancements in high-end sectors such as 5G communication and AI servers [1] - The company’s high-end products, including 2.5G, 5G, and 10G network transformers, gained market share, contributing to an increase in gross margin that outperformed the industry average [1] - The power magnetic components segment faced short-term pressure due to customer price reductions and customization demands, but the company is implementing cost control and inventory management measures to adapt to small-batch customization needs [1] Group 2: R&D and Production - Meixin Technology emphasized its "R&D-driven" approach, with R&D investment reaching 12.5 million yuan, a 1.5% increase, focusing on high-value products and smart manufacturing [2] - The company has upgraded its production lines to automation, transitioning from labor-intensive methods to automated manufacturing for network transformers and achieving fully automated production for chip inductors [2] - A rapid response mechanism has been established to enhance customer engagement, including a technical service network and a quick sample line to meet customer specifications efficiently [2] Group 3: Financial Health and Expansion - As of June, the company’s total assets reached 1.088 billion yuan, a 1.89% increase from the previous year, with a net cash flow from operating activities of 28.86 million yuan [3] - The efficiency of funds raised from the initial public offering is notable, with significant investments in the new factory in Dongguan, which is nearing completion [3] - The company is preparing to accelerate its overseas expansion with a factory in Thailand, aiming to strengthen its presence in Southeast Asia and enhance its global supply capabilities in the context of the "5G + AI + New Energy Vehicles" industry trends [3]

Core Insights - Meixin Technology reported a revenue of 422 million yuan and a net profit of 32.27 million yuan for 2024, with a significant increase in operating cash flow by 87.74% to 74.23 million yuan [1] - The company proposed a cash dividend of 3 yuan per 10 shares, totaling 13.28 million yuan [1] - In Q1 2025, Meixin Technology maintained stable performance with a revenue of 106 million yuan, a year-on-year growth of 0.45%, and a net profit of 7.09 million yuan, up 5.73% year-on-year [1] Business Overview - Meixin Technology specializes in the design, research, development, production, and sales of magnetic components, including signal and power magnetic components [2] - The core business segment is signal magnetic components, which contributed significantly to overall performance through design and process innovations, increasing the proportion of mid-to-high-end network transformers [2] - The company has achieved important breakthroughs in automotive electronics, successfully developing automotive-grade chip inductors for CANBus filtering, enhancing its competitiveness in the automotive electronics market [2] Strategic Development - The power magnetic components business has become the second strategic development pillar, focusing initially on automotive applications and expanding into communication, industrial, and server power supply sectors [3] - Meixin Technology plans to continue advancing its Bay Area factory project, expected to be operational in 2025, introducing advanced production equipment and smart management systems to enhance product development and testing capabilities [3] - This strategic layout aims to address capacity bottlenecks due to rapid market growth, further solidifying the company's competitive advantage in the industry [3]