Core Viewpoint - The company reported that overseas orders remained sufficient in July and August, and production operations are in good condition [1] Group 1: Production and Orders - The company stated that the production lines for high value-added products, such as electric relays, are operating at full capacity, maintaining a high utilization rate [1] - The general power relay production was affected by seasonal fluctuations in the domestic air conditioning industry, resulting in a lower utilization rate, which is considered a normal adjustment in production operations [1] Group 2: Market Strategy - The company emphasizes a market demand-oriented approach, utilizing flexible and scientific production scheduling to optimize resource allocation and ensure timely delivery of various products [1] - The company plans to continue seizing opportunities in overseas markets and actively optimize its product structure to provide sustained momentum for performance growth [1]

Group 1: Company Overview - The company is a high-tech enterprise specializing in the R&D, manufacturing, and sales of relays and transformers, ranking among the top in China's electronic components industry [2] - The product range includes six major categories of relays and transformers, with plans to strengthen core areas while exploring diversification based on market demand [2] Group 2: Financial Guidance for 2025 - The company aims for high-quality growth driven by technology, focusing on increasing market share in core businesses and expanding into high-value overseas markets [3] - Specific financial targets will be dynamically optimized based on market conditions and reported regularly [3] Group 3: Revenue Planning and Strategic Focus - The company plans to enhance its core business while breaking into emerging sectors like new energy and smart grids, aiming for sustainable organic growth across all divisions [3] - The "42+" strategy focuses on four core businesses, deepening engagement in inductors and signal relays, and exploring horizontal mergers to create more value [4] Group 4: International Expansion and Production - The company has established subsidiaries in North America, South Korea, Germany, and Vietnam, with the Vietnam base already in production for magnetic relays [3][4] - Future production increases are planned for general power relays and transformers at the Vietnam facility [3] Group 5: Raw Material Management - Raw materials constitute a significant portion of production costs, and the company faces challenges from price fluctuations in commodities like copper and silver [4] - Strategies to mitigate risks include cost-sharing through scale effects, optimizing supply chain management, and engaging in futures hedging to control market risks [4]

格隆汇9月12日丨三友联众(300932.SZ)在互动平台表示，公司产品目前暂未直接应用于芯片。但在高端 智能制造领域，公司的通用功率继电器、信号继电器、工控继电器及高压直流继电器等核心产品，可广 泛应用于工业自动化设备、精密控制、能源管理及智能装备等场景，为智能制造系统提供高可靠性的连 接、控制和保护解决方案。公司将持续关注智能制造技术发展趋势，不断推进产品创新与产业化应用， 积极把握制造业转型升级带来的市场机遇，助力客户提升自动化与智能化水平。 ...

三友联众9月12日在互动平台表示，公司产品目前暂未直接应用于芯片。但在高端智能制造领域，公司 的通用功率继电器、信号继电器、工控继电器及高压直流继电器等核心产品，可广泛应用于工业自动化 设备、精密控制、能源管理及智能装备等场景，为智能制造系统提供高可靠性的连接、控制和保护解决 方案。 ...

Core Viewpoint - The company, Sanyou Lianzhong, is currently not directly applying its products in the chip sector but is focusing on high-end intelligent manufacturing solutions [1] Group 1: Product Applications - The company's core products, including general power relays, signal relays, industrial control relays, and high-voltage DC relays, are widely applicable in industrial automation equipment, precision control, energy management, and intelligent equipment [1] - These products provide high reliability in connection, control, and protection solutions for intelligent manufacturing systems [1] Group 2: Market Opportunities - The company is committed to continuously monitoring the development trends in intelligent manufacturing technology [1] - It aims to promote product innovation and industrial application to seize market opportunities arising from the transformation and upgrading of the manufacturing industry [1] - The company seeks to assist clients in enhancing their automation and intelligence levels [1]

Group 1: Company Overview - The company is a high-tech enterprise specializing in the research, development, manufacturing, and sales of relays and transformers, ranking among the top in China's electronic components industry [2] - The product range includes six major categories: general power relays, magnetic latching relays, automotive relays, new energy relays, photovoltaic relays, and signal relays, along with inductors and transformers [2] Group 2: Financial Performance - In the first half of 2025, the company achieved total revenue of ¥1,152,421,830.47, an increase of 8.48% year-on-year [3] - The net profit attributable to shareholders was ¥42,885,668.81, reflecting a growth of 5.64% compared to the same period last year [3] - The growth was driven by expanding market demand and increased overseas business [3] Group 3: Strategic Plans - Future strategies include strengthening core products such as general power relays and magnetic latching relays while developing new profit centers in signal relays and inductors [3] - The "42+" strategy focuses on four core businesses and deepening engagement in inductors and signal relays, with plans for acquisitions to enhance the ecosystem [3] - The company aims to enhance smart manufacturing through automation and digital upgrades, replicating successful experiences across the group [3] Group 4: International Expansion - As of mid-2025, overseas revenue reached ¥323,585,040, accounting for 28.08% of total revenue [4] - The company plans to increase its overseas market share by focusing on high-margin products like general power relays and transformers [4] - Future international efforts will target regions such as South America and Southeast Asia, emphasizing high-reliability and customized products [4]

Group 1 - The core viewpoint of the news is that Sanyou Lianzhong Group has demonstrated strong performance in the relay and transformer manufacturing sector, with significant revenue and profit growth in the first half of the year [1] - The company achieved operating revenue of 1,165,363,335.35 yuan, an increase of 8.48% compared to the same period last year, and a net profit attributable to shareholders of 42,885,668.81 yuan, up 5.64% year-on-year [1] - The growth in performance is attributed to the expansion of market demand, which has driven the growth of existing business and increased profit margins from overseas business [1] Group 2 - In the field of new energy vehicles, the company has established a capacity management system characterized by "forward-looking layout, flexible capacity, and agile response," enhancing the production capacity of high-voltage direct current relays and photovoltaic relays [2] - The capacity utilization rate of core business units, such as the second and sixth divisions, remains above 95%, while the first and third divisions have reserved flexible capacity [2] - The company is actively promoting new customer verification for high-voltage direct current relays, which are being applied on a large scale in key areas such as new energy vehicles and charging piles [2] Group 3 - The company plans to focus on lightweight, energy-saving, intelligent, low-cost, and compact high-load products in its new product development direction, extending its product line around relays and transformers [2] - In the field of computing power supply equipment, the company's product technology has comprehensively covered various application scenarios and established long-term stable partnerships with several mainstream equipment manufacturers [2] - The company will continue to invest in research and development to enhance product performance and reliability, keeping pace with the development trends of the computing power industry [2]

Company Overview - The company is a high-tech enterprise specializing in the R&D, manufacturing, and sales of relays and transformers, ranking among the top in China's electronic components industry [2] - The product range includes six major categories of relays and transformers, with plans to strengthen core areas while diversifying based on market demand [2] Financial Guidance for 2025 - The company aims for high-quality growth driven by technology, global expansion, and lean operations, focusing on increasing market share in core and emerging business areas [3] - Specific financial targets will be optimized based on market conditions and reported regularly [3] Market Position and Competitiveness - The global electromagnetic relay market is projected to grow at an average rate of 8.6% from 2023 to 2028, with China's market expected to reach approximately 49.16 billion yuan by 2028 [4] - The company plans to enhance profitability through smart manufacturing and a focus on high-margin products [4] New Energy Sector Strategy - The company has established a capacity management system for the new energy sector, ensuring significant production capacity for high-voltage direct current relays and photovoltaic relays [4] - Future capacity optimization will focus on improving existing production efficiency and expanding to meet overseas demand [4] Business Unit Revenue Planning - The company aims for organic growth across its business units by reinforcing core operations and exploring new high-growth areas such as new energy and smart grids [5] - The strategy includes enhancing product lines and expanding into new markets while maintaining a focus on technology and operational efficiency [5] Product Development and Market Expansion - The company is exploring new product lines with an emphasis on lightweight, energy-efficient, and intelligent designs [6] - There is a commitment to adapting products for emerging fields such as low-altitude economy and robotics, leveraging existing technological capabilities [6]

Group 1: Financial Guidance and Growth Strategy - The company aims for high-quality growth driven by technology, global expansion, and lean operations, focusing on increasing market share in core businesses and expanding into high-value overseas markets [2][3] - Specific financial targets will be optimized based on market conditions and reported regularly [2] - The company plans to enhance operational efficiency through smart manufacturing upgrades and vertical supply chain integration [2] Group 2: Automotive and New Energy Applications - The company has established deep partnerships with leading electric vehicle manufacturers and energy storage firms, focusing on core modules in traditional and new energy vehicles [3][5] - The primary application of the company's new energy relays is in 800V and above high-voltage platforms for electric vehicles [4][5] - By the end of 2024, the company has passed audits from 31 clients in the automotive and energy storage sectors, solidifying its position as a qualified supplier [5] Group 3: International Expansion and Production - The company has set up subsidiaries in North America, South Korea, Germany, and Vietnam, with the Vietnam facility being the first overseas production base [3] - The overseas revenue is primarily driven by general power relays and power block products, with a projected year-on-year growth of 29.73% in 2024 [5] - Future international expansion will focus on increasing penetration of new energy relays and customized products in South America and Southeast Asia [5] Group 4: Ongoing Projects and Capacity Management - The new electronic component production project in Qingxian is nearing completion, with an area of 129,000 square meters, expected to start production this year [5] - The Dongguan smart manufacturing headquarters project has a total investment of 550 million yuan, with construction currently in the main phase [5] - The company has implemented a capacity management system in the new energy sector to ensure flexibility and responsiveness to market demands [3]

Group 1: Company Overview - The company is a high-tech enterprise specializing in the research, manufacturing, and sales of relays and transformers, ranking among the top in China's electronic components industry [2] - The product range includes six major categories: general power relays, magnetic latching relays, automotive relays, new energy relays, photovoltaic relays, and signal relays, along with inductors and transformers [2] - Future plans focus on strengthening core products while diversifying based on market demand and company strengths [2] Group 2: Industry Trends - The relay industry is heavily influenced by downstream market demand, with traditional markets like automotive and home appliances showing stable growth [3] - Emerging industries such as new energy, AI, smart manufacturing, and 5G are creating new market opportunities for relays [3] Group 3: International Expansion - The company aims to increase its overseas revenue share, particularly in the general and power relay sectors, which currently dominate international sales [3] - Plans include enhancing the overseas layout of key products and recruiting high-end talent for technical support and marketing [3] - The company has established subsidiaries in North America, South Korea, Germany, and Vietnam, with the Vietnam subsidiary already in production [3] Group 4: Financial Goals and Strategies - For 2025, the company will focus on "technology-driven, global expansion, and lean operations" to achieve high-quality growth [4] - The strategy includes increasing market share in core businesses and expanding into high-value regions with localized services [4] - Continuous upgrades in smart manufacturing and supply chain integration are planned to enhance operational efficiency [4]