登录新浪财经APP 搜索【信披】查看更多考评等级 投资者活动基本信息 深圳市汇创达科技股份有限公司（以下简称"公司"）于2025年11月20日参与"传价值・促信任・共机遇 ——助力上市公司高质量发展"2025年度深圳辖区上市公司投资者网上集体接待日活动，通过"全景路 演"网站及微信公众号与投资者进行互动交流。活动时间为当日14:30-17:00，公司董事长兼总经理李 明、副总经理兼董事会秘书许文龙、财务总监任庆、独立董事刘爱珺共同参与接待。 核心问答要点解析 客户拓展与合作进展：聚焦战略方向，进展将及时披露 针对投资者关注的公司是否已与苹果达成合作及相关订单情况，公司表示，积极拓展客户是长期战略发 展方向，后续如涉及需披露的合作事宜，将严格按照信息披露要求及时公告，敬请投资者关注公司官方 信息。 股东质押风险可控，可转债融资计划推进中 关于股东质押率及融资计划，公司回应称，实际控制人所质押股份整体风险可控，股东资信状况良好且 具备资金偿还能力。在融资方面，公司向不特定对象发行可转换公司债券的申请已于2025年10月24日获 深圳证券交易所受理，募集资金拟用于"动力电池及储能电池系统用CCS及新能源用连接器项目 ...

Core Viewpoint - 弘信电子's stock price has experienced fluctuations, with a year-to-date increase of 26.26%, but a recent decline of 7.41% over the last five trading days [1] Company Overview - 弘信电子, established on September 8, 2003, and listed on May 23, 2017, is located in Xiamen, Fujian Province. The company specializes in the research, production, and sales of flexible printed circuit boards (FPC), rigid-flex boards, and backlight modules [1] - The revenue composition of 弘信电子 includes: 48.49% from printed circuit boards, 42.41% from computing power and related businesses, 8.01% from backlight modules, and 1.09% from other sources [1] Financial Performance - For the period from January to September 2025, 弘信电子 achieved a revenue of 5.55 billion yuan, representing a year-on-year growth of 24.75%. The net profit attributable to shareholders was 90.51 million yuan, reflecting a 65.47% increase compared to the previous year [2] - Since its A-share listing, 弘信电子 has distributed a total of 126 million yuan in dividends, with no dividends paid in the last three years [3] Shareholder Information - As of September 30, 2025, 弘信电子 had 79,100 shareholders, an increase of 9.07% from the previous period. The average number of circulating shares per shareholder decreased by 5.80% to 5,927 shares [2] - The top ten circulating shareholders include 南方中证1000ETF and 香港中央结算有限公司, with both experiencing a decrease in holdings compared to the previous period [3]

Core Viewpoint - Hongxin Electronics has shown a mixed performance in stock price, with a year-to-date increase of 30.76% but a recent decline over the past five and twenty trading days [1][2]. Group 1: Stock Performance - As of October 20, Hongxin Electronics' stock price rose by 2.03% to 29.63 CNY per share, with a market capitalization of 14.298 billion CNY [1]. - The stock has experienced a decline of 7.92% over the last five trading days and 11.87% over the last twenty trading days [1]. - The company has appeared on the "龙虎榜" (a stock trading list) once this year, with the last appearance on February 17 [1]. Group 2: Financial Performance - For the first half of 2025, Hongxin Electronics reported a revenue of 3.494 billion CNY, representing a year-on-year growth of 15.01% [2]. - The net profit attributable to shareholders for the same period was 53.9931 million CNY, reflecting a year-on-year increase of 9.85% [2]. Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 13.85% to 72,600, while the average number of circulating shares per person increased by 16.07% to 6,292 shares [2]. - The top ten circulating shareholders include significant holdings from various ETFs, with notable increases in shares held by Southern CSI 1000 ETF and others [3]. Group 4: Business Overview - Hongxin Electronics, established on September 8, 2003, and listed on May 23, 2017, specializes in the research, production, and sales of flexible printed circuit boards (FPC), rigid-flex boards, and backlight modules [1]. - The revenue composition of the company includes 48.49% from printed circuit boards, 42.41% from computing and related businesses, 8.01% from backlight modules, and 1.09% from other sources [1]. - The company operates within the electronic components sector, specifically in printed circuit boards, and is associated with concepts such as full-screen displays, Alibaba, all-in-one machines, foldable screens, and the metaverse [1].

Core Viewpoint - The company is advancing its global strategy through the construction and capacity layout of two smart manufacturing bases in Vietnam, which are crucial for enhancing production efficiency and local service capabilities [1] Group 1: Investment and Expansion - The new manufacturing bases in Vietnam are progressing in construction and capacity layout, which is a key part of the company's globalization strategy [1] - The Bắc Ninh factory will focus on the intelligent production of backlight modules and LCM, aiming to improve response speed and capabilities through a cross-border closed-loop industrial chain [1] Group 2: Future Plans and Goals - The company plans to complete customer product certification by 2025, gradually releasing production capacity to support large-scale supply for core customers [1] - The first half of 2025 is seen as a critical period for the company to achieve stable growth and break new ground [1] - In the second half of the year, the company will continue to focus on its main business, advance the construction of the Vietnam base, deepen cooperation with core customers, and optimize product structure to enhance profitability [1]

Core Viewpoint - The company is progressing with the construction and capacity layout of its new smart manufacturing bases in Vietnam, which are crucial to its global strategy and expected to enhance production capabilities and revenue performance in the future [2]. Group 1 - The new manufacturing bases in Vietnam are part of the company's global strategy, with the Bắc Ninh factory focusing on intelligent production of backlight modules and LCM [2]. - The company aims to complete customer product certification by 2025, gradually releasing production capacity to support large-scale supply to core customers [2]. - The first half of 2025 is seen as a critical period for the company to stabilize growth and explore new opportunities [2]. Group 2 - The company plans to continue focusing on its main business, advancing the construction of the Vietnam bases, and deepening cooperation with core customers in the second half of the year [2]. - There is an emphasis on optimizing product structure and enhancing profitability as part of the company's ongoing strategy [2].

Core Viewpoint - The precision tactile switch components market is experiencing significant growth, driven by advancements in technology and increasing consumer demand, with global market size projected to grow from 1.91 billion in 2022 to 2.59 billion in 2024, and further to approximately 3 billion by 2025 [1][3][6]. Group 1: Industry Definition and Characteristics - Precision tactile switch components consist of inserts, bases, springs, buttons, and covers, functioning as a precise switch that connects and disconnects circuits [2]. - These components are characterized by their small size, long lifespan, and precise tactile feedback, making them widely applicable in consumer electronics, industrial control, automotive electronics, and smart home devices [3][6]. Group 2: Industry Development Status - The demand for precision tactile switch components has been steadily increasing due to rapid technological advancements and improved living standards [3][5]. - The global market size for precision tactile switch components is expected to grow from 1.91 billion in 2022 to 2.59 billion in 2024, with a forecast of around 3 billion by 2025 [3][6]. Group 3: Industry Chain - The upstream of the precision tactile switch components industry includes raw materials such as stainless steel, copper, gold, PET film, double-sided tape, and conductive foam, along with production equipment [6]. - The midstream involves the research and manufacturing of precision tactile switch components, while the downstream applications include consumer electronics, automotive electronics, smart home devices, and medical equipment [6]. Group 4: Industry Development Environment - Relevant Policies - The precision tactile switch components industry is supported by national policies aimed at promoting high precision and reliability, with various initiatives to enhance technological upgrades and equipment modernization [6][7]. Group 5: Industry Competition Landscape - Major global players in the precision tactile switch components industry include Panasonic, ALPS, Shenzhen Huichuangda, Mitsumi, OMRON, and Citizen, with a high concentration and stable competitive landscape [7]. - In the Chinese market, there is a high-end monopoly and mid-low end competition, with local companies like Huichuangda rising in the mid-low end market through cost control and R&D investment [7][8]. Group 6: Company Overview - Huichuangda is a high-tech enterprise specializing in the research and production of electronic components such as membrane switches and backlight modules, with its precision switch division focusing on metal membrane switches and ultra-small waterproof tactile switches [8][9]. - In 2024, Huichuangda achieved a revenue of 1.474 billion, an increase of 118 million from 2023, and a net profit of 101 million, up by 7 million from the previous year [9]. Group 7: Industry Development Trends - The precision tactile switch components market is expected to continue expanding due to their irreplaceable tactile feedback, precise blind operation, high reliability, and cost advantages [10]. - The industry is anticipated to evolve towards higher performance, intelligence, and integration, with local leaders like Huichuangda transitioning from "domestic substitution" to "global leadership" [10].

Core Viewpoint - Hongxin Electronics has shown a significant increase in stock price and trading activity, indicating positive market sentiment and potential growth in the electronic components sector, particularly in printed circuit boards [1][2]. Company Overview - Hongxin Electronics, established on September 8, 2003, and listed on May 23, 2017, is located in Xiamen, Fujian Province. The company specializes in the research, production, and sales of flexible printed circuit boards (FPC), rigid-flex boards, and backlight modules [1]. - The company's revenue composition includes 48.49% from printed circuit boards, 42.41% from computing and related businesses, 8.01% from backlight modules, and 1.09% from other sources [1]. Financial Performance - For the first half of 2025, Hongxin Electronics achieved a revenue of 3.494 billion yuan, representing a year-on-year growth of 15.01%. The net profit attributable to shareholders was 53.9931 million yuan, up by 9.85% compared to the previous year [2]. - The company has distributed a total of 126 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Hongxin Electronics was 72,600, a decrease of 13.85% from the previous period. The average number of tradable shares per shareholder increased by 16.07% to 6,292 shares [2]. - Notable institutional shareholders include Southern CSI 1000 ETF, which increased its holdings by 684,400 shares, and Hong Kong Central Clearing Limited, which raised its stake by 240,100 shares [3].

Summary of the Conference Call for Nanji Guang Company Overview - **Company**: Nanji Guang - **Industry**: Display technology, specifically focusing on backlight modules for gaming consoles and other electronic devices Key Points Financial Performance - In Q2 2025, Nanji Guang achieved a gross margin of 29.60% and a net margin of 20.40%, indicating continuous improvement in performance [2][3] - Revenue for the first half of 2025 reached 397.5 million yuan, a year-on-year increase of 244.67% [3] Strategic Transformation - The company has shifted its focus from a heavy reliance on the mobile supply chain to diversified applications in gaming, smart wearables, tablets, laptops, and automotive displays [4] - The market structure has transitioned from primarily domestic sales to a balanced approach of domestic and international sales, with an increase in high-value products [4] Partnership with Nintendo - Nanji Guang has been the exclusive supplier of backlight modules for Nintendo's Switch 2 since 2020, with the console selling over 5.82 million units by the end of June 2025 [2][6] - The partnership is expected to last 5-8 years, with the company having developed a unique ultra-thin light guide plate production process that optimizes power consumption by 25% [6][9] Market Demand and Capacity - Future market demand for Switch 2 is projected to peak at over 20 million to 30 million units, with sufficient production capacity in place (200,000 units per month in Shenzhen and 500,000 units per month in Yichun) [10] - The company is prepared to meet peak demand and has established a solid supply position due to stringent supply chain audits by Japanese companies [10] Competitive Landscape - Despite competition from other suppliers, Nanji Guang maintains a strong position due to high technical barriers and has developed next-generation technologies to reinforce its core supplier status [11][12] - The company is also exploring new product projects with Nintendo and has received inquiries from HP and other brands for laptop projects [13] Future Development Strategy - Nanji Guang's five-year strategic plan includes deepening its presence in the display industry while expanding into gaming, laptops, automotive, and AI display interfaces [15] - The company is accelerating its internationalization efforts to capture opportunities in the global market, particularly in high-margin segments [14][16] Production and Technology - The company is currently in the small-batch development phase for Mini LED products, which are expected to be a significant growth area [21] - Nanji Guang is also focused on reducing power consumption to enhance battery life in future products, with ongoing technical advancements [25] Shareholder Returns - The company aims to provide returns to shareholders through performance improvements and is considering dividend distributions and stock incentives [19] Accounts Receivable - The company has a significant amount of accounts receivable, with domestic payment cycles averaging four months and international orders taking about four months for payment [23] Production Capacity Utilization - Current production capacity utilization is at 50%, with potential demand from high-end clients like Dell, Lenovo, HP, and Amazon [24] OLED vs. LCD Technology - The Switch 2 utilizes LCD technology due to its advancements in contrast and color range, with no immediate plans to switch to OLED screens [24] Additional Insights - The company has a strong patent portfolio with over 300 patents and has invested 6.39% of its revenue in R&D over the past three years [4] - The Japanese market is characterized by long lead times and stable supplier relationships, which Nanji Guang has successfully navigated [8]

Group 1: Company Strategy and Market Focus - The company focuses on new consumer trends and the iteration of consumer electronics, particularly in the esports and gaming sectors, aiming to develop high-difficulty products for leading clients [2] - The company is also exploring new display fields with growth potential, such as automotive and AI products [3] Group 2: Product Development and Market Opportunities - The company’s entry into handheld gaming products is driven by high production standards from clients like Nintendo, a strong sales base from the Nintendo Switch, and the high profit margins in the esports and gaming segments [4] - The Nintendo Switch 2 has shown promising pre-sale performance, with the company meeting stringent requirements for its backlight module products [5] Group 3: Financial Performance and Projections - Despite a revenue decline in 2024, the company turned a profit due to increased production volumes and cost-reduction measures, with significant growth observed in Q1 2025 [7] - The company’s profit margins are expected to improve further due to a higher proportion of high-end clients and products, alongside the scale effects from increased production [7] Group 4: Supply Chain and Client Relationships - The company emphasizes technological iteration to maintain stable partnerships with key clients, ensuring reasonable profit levels and a solid supply chain position [6] - The company has established a strong influence in the industry through its long-term cooperation with major clients and the successful development of ultra-thin technology [5]

Financial Performance - In 2024, the company reported a comprehensive sales gross margin of 20.47% and a net profit margin of 10.06% [1] - In Q1 2025, the comprehensive sales gross margin increased to 25.15%, with a net profit margin of 18.07% [2] - The significant decline in revenue in 2024 was attributed to intensified competition in overseas markets, slower new product rollout, increased expenses, and extended accounts receivable periods [2][3] Strategic Focus - In 2025, the company plans to reduce or eliminate its traditional display terminal business, with Q1 revenue primarily coming from the backlight module business [2][4] - The strategic focus for 2025 is on "focusing on core (modules), specializing, and moving up the industry," emphasizing the development of display module business and accelerating the automotive display sector [4] Growth Opportunities - The company anticipates a revenue growth of 40%-60% in display modules for 2025, aiming for a net profit of approximately 170 million yuan [4] - The display module business grew by 35% year-on-year in 2024, with MiniLED display modules experiencing a doubling in growth [5] - The automotive display business is identified as a second growth curve, with products already in the sampling phase and beginning mass shipments [6] Industry Outlook - The display industry is entering a rapid growth phase, driven by national subsidy policies and the accelerated penetration of MiniLED technology [5] - The global shipment volume in the large-size display market remains stable at around 200 million units, with the industry expected to expand further with advancements in MiniLED, MiniRGB, and MicroLED technologies [7][8]