Core Viewpoint - The company held an online investor meeting to discuss its business development, product market demand, and cooperation status, highlighting its expansion into deepwater oil and gas equipment and partnerships in the optical communication sector [1][2]. Business Development - The company has expanded beyond its core business of high-reliability electronic components and microcircuit modules, becoming a member of the deepwater oil and gas equipment industry alliance, providing key components like non-solid electrolyte tantalum capacitors for CNOOC's "Xuanji" deepwater drilling platform [1]. - The company has established business relationships with several leading enterprises in the optical communication field, gradually increasing the supply of civilian tantalum capacitors for domestic servers [1]. Product Market Demand - High-reliability business revenue accounts for over 85% of the company's total revenue, with an expected increase in demand for components due to rising hardware investments driven by AI [1][2]. Cooperation Status - The company's subsidiary, Hongda Hengxin, has widely applied its products in optical communication modules and has established cooperation with several leading companies in the optical communication sector [1]. - The company confirmed ongoing business interactions with major players in the optical communication field, although it currently has no collaboration with Yushutech, Shenghong Technology, NVIDIA, or Huawei [2]. Financial Outlook - The company has no current plans for share buybacks and advises investors to await the annual and third-quarter reports for 2025 performance updates [2]. - The company adopts a conservative accounting policy regarding accounts receivable, preparing for potential impairments while maintaining a low risk of impairment due to high customer credit quality [2].

Group 1: Business Development and Focus Areas - The company primarily focuses on high-reliability electronic components and microcircuit modules, with additional emphasis on deep-sea oil and gas equipment, having joined the Deep Water Oil and Gas Equipment Industry Alliance [2] - The company has established business relationships in the optical communication sector, supplying products like single-layer ceramic capacitors and ceramic film circuits [3] - The company’s civilian tantalum capacitors are increasingly being supplied to domestic servers, indicating a growing market presence [3] Group 2: Market Demand and Financial Performance - High-reliability business revenue constitutes over 85% of the company's total revenue, with anticipated growth due to increased hardware investments driven by AI [3] - The company has not disclosed any plans for stock buybacks at this time, but will adhere to disclosure obligations if such plans arise [4] - The company is cautious about revenue projections for 2025, advising stakeholders to await the annual report for detailed performance insights [4] Group 3: Operational Insights and Challenges - The company acknowledges a high level of accounts receivable, attributing it to the lengthy supply chain and strict delivery acceptance processes in the high-reliability sector [5] - The company is currently operating with excess capacity due to the unique nature of its industry, which involves small-batch, multi-batch orders [5] - There are no current plans for expanding production capacity until there is a significant increase in order volume [5] Group 4: Product Offerings and Collaborations - The company does not currently offer chip design services or AI-related products, nor does it have a partnership with Yushu Technology [5] - The company has not engaged in PCB manufacturing and does not have CPO products available [6][7] - The company has established connections with several leading enterprises in the optical communication field, enhancing its market position [6]