On September 1, Hongli Zhihui (300219) released a record of investor relations activities. Deng Shoutie, the Secretary of the Board, provided a brief overview of the company’s current status and outlined its development strategy. The company is actively expanding its presence in key sectors such as LED technology and automotive networking.
Currently, Hongli Zhihui's main business areas include LED manufacturing and automotive connectivity. Under the LED segment, several subsidiaries are involved in different aspects of the production chain. Liangyou Hardware focuses on producing LED brackets and lenses, while Jincai Hardware specializes in MIM, PVD, and CNC products. Hongli Zhihui, Smide, and Jiangxi Hongli are responsible for LED packaging, including white LEDs and automotive LEDs. They are also exploring new applications like infrared security, UV curing, and deep UV sterilization. Ledia handles general lighting, Zhongying Gongyuan manages domestic engineering projects, and Guangzhou Foda focuses on automotive lighting solutions.
To strengthen its position in the domestic vehicle lighting market, the company plans to invest RMB 230 million to acquire a 51% stake in Danyang Yishan Auto Lamp Equipment Manufacturing Co., Ltd. This move aims to solidify its layout in the LED automotive lighting system within the domestic supply chain.
In the automotive networking sector, Hongli Zhihui has invested in companies like Dina Technology, Hongchuang Power, Hezhong Automobile, and Speed Easy Network. Dina Technology provides vehicle terminal GID sales and car networking solutions, while Hongchuang Power develops core components for electric vehicles, such as motor controllers and power battery systems. Hezhong Automobile focuses on smart connected new energy vehicle technologies, and Speed Easy Network offers internet marketing and automotive services.
During the Q&A session, the company addressed several key questions. It currently has a combined LED packaging capacity of over 4,500 KK per month across its subsidiaries. Expansion will be based on market demand. For chip suppliers, the company primarily sources medium and small power chips domestically from Sanan Optoelectronics and Huacan Optoelectronics, while high-power chips are imported.
In terms of market share, the company ranks second in the domestic LED packaging industry, following Mulinsen. It holds a strong position in the white LED market. Revenue growth in LED packaging is driven by increasing market demand, the exit of international players, and industry consolidation.
The price of LED raw materials remains stable, with no signs of significant fluctuations. The gross profit margin for LED packaging has seen some decline due to increased OEM orders and competitive pressures, but it has stabilized this year, with a slight increase in the first half of the year.
Looking ahead, the company plans to focus more on LED automotive lighting, including lamp beads, modules, and assembly lights. It has already mass-produced automotive aftermarket LED lamp beads and is preparing to expand into the front-loading market. Guangzhou Foda has started producing LED modules, and the acquisition of Yishan Auto is expected to enhance its domestic vehicle lighting supply chain.
In terms of future plans, the company will continue to expand its LED packaging operations and scale up existing businesses like general and automotive lighting. It will also explore new LED applications.
Regarding the Yishan Auto acquisition, the company’s customers include major automakers such as Geely, Great Wall Motor, Changan, and SAIC. The process is currently underway with audit work being conducted by intermediaries.
Moving forward, the company will continue to build its automotive networking capabilities through hardware-based services, focusing on vertical markets with core technologies.
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