宏达电子(300726) - 2025年9月19日投资者关系活动记录表

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]