Overview of Q2 / first-half 2020 financial results from 20 leading international auto parts suppliers

【Answer 1】 In Q2 2020, Visteon reported sales of $371 million, down from $733 million year-on-year; gross profit totaled $4 million; net loss reached $45 million; adjusted EBITDA was negative $3 million—impacted by pandemic-related sales declines—but the company implemented a series of robust cost-control measures that partially offset these adverse effects, resulting in an adjusted EBITDA decline of only 15% year-on-year. As of June 30, the company’s adjusted free cash flow stood at $66 million, compared to $2 million in the same period last year. Notably, Visteon launched 21 new products in the first half of 2020 and secured $1.7 billion in new contracts. Dana: Q2 sales of $1.08 billion In Q2 2020, Dana’s sales fell to $1.08 billion, down from $2.3 billion year-on-year; net loss widened to $174 million, versus a net loss of $68 million in Q2 2019; excluding one-time income tax and pension expenses, net loss for Q2 was $118 million, compared to net income of $103 million in Q2 2019; diluted EPS loss was $1.20, versus $0.47 loss per share in Q2 2019. Adjusted EBITDA was negative $5 million, versus $286 million year-on-year; adjusted free cash flow was $133 million, versus $43 million in Q2 2019. The impact of declining profits was partially mitigated by the company’s cash-saving initiatives, lower cash taxes, and reduced capital expenditures relative to the prior year. Lear: Q2 revenue of $2.4 billion In Q2 2020, Lear’s revenue declined 51% to $2.4 billion due to lower production volumes; net loss amounted to approximately $294 million, versus net income of approximately $183 million in Q2 2019; cash and cash equivalents totaled $1.8 billion, with total liquidity assets reaching $2.5 billion. Given the ongoing pandemic and potential for renewed government-mandated lockdowns, global production in H2 2020 is expected to decline by 10–15% year-on-year. Tenneco: Q2 revenue of $2.6 billion In Q2 2020, Tenneco’s revenue dropped 42% to $2.6 billion, down from $4.5 billion year-on-year; net loss was $350 million, versus net income of $26 million in Q2 2019; diluted EPS loss was $4.30; EBIT was negative $375 million—including $113 million in non-cash charges primarily related to the restructuring of its North American aftermarket distribution network; adjusted EBITDA was $8 million; as of the end of Q2, the company maintained stable liquidity, with cash balance at $1.37 billion. Tenneco stated it cut payroll expenses by at least 25% in Q2, including 50–100% reductions for executive compensation; further payroll cuts of 10–20% are anticipated in Q3. Q3 2020 revenue is expected to rise significantly quarter-on-quarter but remain below Q3 2019 levels. Structural cost savings and sustained cash management are expected to improve operating cash flow in H2.

[First Half of 2026] Performance Analysis of Major Chinese Semiconductor Equipment and Materials Manufacturers

【Answer 2】 Changchuan Technology: Revenue of RMB 3.461 billion in H1 2026, up 59.7% year-on-year; net profit attributable to shareholders of RMB 964 million, up 125.7% year-on-year. According to its semi-annual report and earnings forecast, the growth stems from continued commercialization of prior R&D investments, coupled with strong demand from high-end downstream markets—resulting in substantial sales growth across multiple product lines (especially digital testers) and pronounced economies of scale, driving rapid expansion in both revenue and profit. Digital testers—primarily used in high-end applications such as SoC and AI computing chips—are the core growth driver; in 2025, tester-related revenue already accounted for over 60% of the company’s total revenue. • Jinhaitong Jinhaitong: Revenue of RMB 601 million in H1 2026, up 95.4% year-on-year; net profit attributable to shareholders of RMB 171 million, up 125.2% year-on-year. Per its semi-annual report, growth was driven by surging demand for semiconductor packaging and testing equipment, fueled by downstream applications including AI, high-performance computing, and new-energy vehicles. Additionally, the company’s global business expansion has begun yielding tangible results, with overseas orders showing solid growth year-on-year, significantly boosting sales of test handlers. Gross margin and net margin both improved in H1; Q2 standalone net profit growth remained above 76%, sustaining high momentum. • Glorytek Glorytek: Revenue of RMB 453 million in H1 2026, up 57.2% year-on-year; net profit attributable to shareholders of RMB 74 million, up 194.6% year-on-year. Per its semi-annual report, revenue growth was primarily driven by its semiconductor packaging & testing equipment business—which accounted for 77.63% of total revenue and grew 162.25% year-on-year. Rapid growth in domestic semiconductor packaging & testing equipment has become the company’s core growth engine. The company continues to increase R&D and marketing investment while expanding its product portfolio. Background context: Its domestically produced semiconductor mechanical dicing equipment has operated at full capacity since July 2025; domestically produced dicing equipment for advanced packaging has entered mass application; combined with major customers’ capacity expansion needs, delivery and revenue have risen rapidly. Domestic semiconductor business revenue has now surpassed overseas revenue, becoming the primary growth driver. # Semiconductor Materials Revenue and Net Profit Attributable to Shareholders of Major Chinese Semiconductor Materials Manufacturers in 2025 and H1 2026 Data Source: MIR DATABANK Overall Situation In H1 2026, the semiconductor materials sector overall exhibited a pattern of “volume growth but weak pricing, with demand recovery.” Among the 12 companies covered, 11 posted year-on-year revenue growth, with only Jingsheng Mechanical & Electrical showing a decline. Surging AI compute and memory demand drove volume growth for materials such as sputtering targets, specialty gases, and silicon wafers—leading to markedly accelerated revenue for multiple companies. However, prices for silicon wafers and other products remain at cyclical lows; several firms face significant pressure from capacity ramp-up and inventory write-downs, resulting in pronounced profit divergence. Companies showing notable profitability improvement include Lianchuang Microelectronics, YG New Materials, Qingyi Optoelectronics, Nanjing University Photoelectric, and Huat Special Gases. Lianchuang Microelectronics turned profitable after two consecutive years of losses, with net profit attributable to shareholders up 166.1% year-on-year; YG New Materials achieved over 50% revenue growth and 40.9% net profit growth year-on-year; Qingyi Optoelectronics, Nanjing University Photoelectric, and Huat Special Gases all posted double-digit net profit growth year-on-year; TCL Zhonghuan narrowed its losses.

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