感谢大家参加本次会议会议即将开始请稍候 本次会议为中国国际金融股份有限公司中金公司闭门会议仅限受邀嘉宾参会 未经中金公司和演讲嘉宾书面许可任何机构和个人不得以任何形式将会议内容和相关信息对外公布转发转载传播复制编辑修改等如有上述违法行为中金公司保留追究相关方法律责任的权利This meeting is a closed-door meeting of China International Capital Corporation Limited CICC 各位同学 大家好我是中金公司的家电智慧家居首席分析师何伟在线的台业分析师楚金那么今天的话我们邀请到海信家电的正代马老师和大家交流最近大家问的也非常多因为整个来说的话今年的空调板块的龙头的话都长得非常的好那么最近的话大家也是有一点就是说担忧导致稍微有点回调所以这个时候是去还是留还是补偿大家疑问点非常的多 那么我觉得整体来说的话我们认为的话海信家电的一个改善不是一两年就要完成的而是我们要建立在一个中国家电的全球化然后未来全球化有五到十年的一个正向前进的角度下去看这个问题实际上公司的未来的就是说那个发展还有很大的空间包括海外业务的整合以及营运的提升等等相信的话未来 ...

本次会议为中国国际金融股份有限公司中金公司闭门会议 仅限受邀嘉宾参会 未经中金公司和演讲嘉宾书面许可 任何机构和个人不得以任何形式将会议内容和相关信息对外公布、转发、转载、传播、复制、编辑、修改等如有上述违法行为中兴公司保留追究相关方法律责任的权利This meeting is a closed-door meeting of China International Capital Corporation Limited, CICCand only invited guests allowed to attend Without the written permission of CICC and the speaker, no organization or individual is allowed to punish, forward, reprint, disseminate, copy, edit or modify the meeting contents and relevant information in any form.CICC reserves the right to investi ...

感谢大家参加本次会议会议即将开始请稍后 各位投资者上午好接嘉宾临时通知本场会议将改到11点进行请大家可以这边先挂断待会再揭露很抱歉各位投资者上午好在接嘉宾通知这边临时有其他安排本场会议将在11点开始大家这边可以先挂断待会再揭露很抱歉 各位投资者上午好由于嘉宾这边临时有安排本场会议将改到11点开始请大家这边先稍作休息很抱歉各位投资者上午好接嘉宾通知这边临时有其他安排本场会议将到改到11点开始请各位投资者这边稍作休息待会再揭露很抱歉 欢迎订阅我的频道 或点击旁边的举手按钮申请语音提问谢谢大家好如需提问电话端的参会者请先按话题上的信号键再按数字一网络端的参会者您可以在直播间互动区域内文字提问或点击旁边的举手按钮申请语音提问谢谢赵总我借着这个机会我先来请教一个问题您刚才也谈到了 这个可能房地产相关的政策出台其实传到可能也需要一定的时间那我们前期其实投资人也比较关心就是比如宇宙换星的这个政策相关不知道我们目前感受到就是宇宙换星的这个有没有一些对我们的支撑包括我们自己的相应的一些打法是怎么样的可以帮我们再做更多的分享吗谢谢好的好的 国家经济依旧换新其实对我们这个行业其实都不是这种还是一个非常好的利好的一个好的红利因为依旧 ...

感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 大家好 欢迎参加中金公司中国交建金矿交流电网会议 目前所有乘务者均处于静静状态 现在开始播报说明说明播报完毕后 主持人可直接发言 谢谢本次会议为中国国际金融股份有限公司中金公司闭门会议 仅限受邀嘉宾参会 未经中金公司和演讲嘉宾书面许可 任何机构和个人不得以任何形式将会议内容和相关信息对外公布转发转载传播复制编辑修改等如有上述违法行为中兴公司保留追究相关方法律责任的权利This meeting is a closed-door meeting of China International Capital Corporation Limited, CICC, and only invited guests allowed to attend. 先向各位领导下午好我是中金基础材料团队的建筑性材生起源龚琴 今天线上的主持人还有我们团队的姚旭东非常感谢大家今天其实是我们在上海的策略会因为公司的时间安排我们也借着策略会的机会邀请大家都非常熟悉的中国交建投关负责人徐南徐总来给我们做一个公司近况的更新我们看到线上今天也是有很多熟悉的小伙伴 今天的 ...

感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 大家好 欢迎参加中金公司欧派家区线上策略会议交流 目前所有参务者均处于静音状态 现在开始播报声明 声明播报完毕后 主持人可直接发言 谢谢本次会议为中国国际金融股份有限公司中金公司闭门会议 仅限受邀嘉宾参会 未经中金公司和演讲嘉宾书面许可任何机构和个人不得以任何形式将会议内容和相关信息对外公布转发转载传播复制编辑修改等如有上述违法行为中金公司保留追究相关方法律责任的权利This meeting is a closed-door meeting of China International Capital Corporation Limited, CICCand only invited guests allowed to attend 好的 尊敬的各位投资人 大家早上好 欢迎大家参加2024年中金公司中期投资策略会这一场欧派家居的近况交流的这个线上的会议那我是中金公司轻工零售及美妆行业的首席分析师许卓南那今天和我一起主持这一场会议的还有我的同事吕佩航和刘玉文那今天的会议呢我们非常荣幸的邀请到了欧派家居的领导任总来参加我们的这次交流那 ...

大家早上好昨天我们的会议的广告发出来之后我看更多的客户是在问 哎你怎么没去上海那个策略会对吧我们现在有的客户在那个我们策略会上因为我们做转债的吧一般总有些孤僻对吧你像我就比较孤僻一些就像我选的券一样这个这一期选的呢应该又是多数没有人覆盖对吧所以今天其实要讲的东西也很短啊因为大家也不耽误大家去参加别的这个会啊要讲的也很短啊虽然内容短吧但是其实大家听完之后呢会觉得哎这个内容甚至也不是很新对吧因为其实 我们上个月其实差不多也是这个时候就建议大家对于尤其是一些偏低价的一些券提高一些包容性觉得其实没什么问题建议大家去比如说尤其是曾经有一定新评位置的同事稍微放松一下对这些个券的资质的要求反正上个月还有一个很熟的客户笑着跟我说你这些券脏了我的眼睛这个月换完之后我觉得又能脏了他的眼睛 只是这个月他可能不一定笑的出来了我们就是这个月转战市场的上周其实又受到一次冲击这个算是今年第三个流程了我们所以我说这次呢跟上一次区别不会很大是因为实在很难认为现在编辑上尤其上周又出现了什么新东西这很难很难去理解 呃比如说我们在报告里面也有贴一些图那有兴趣可以看一看因为我们这个这个会是关联了两个两个报告的嗯其实就是上周两个报告那这个一个是这个问询 ...

Key Points Summary Industry Overview 1. **Market Demand and Supply**: The Chinese market has maintained stable demand, with tire companies showing strong demand since the beginning of last year. There has been a surge in帘子布 demand in European and American markets since February this year, mainly due to tire factories replenishing inventory. The utilization rate of domestic帘子布 industry has increased from 85% last year to over 95% now. [1] 2. **Price Changes**: Since February this year, the price of 1300D and 1500D high modulus low shrink帘子布 has increased from 16,000 yuan/ton to 21,000 yuan/ton, with a monthly increase of about 1,000 to 1,500 yuan. [1] 3. **Inventory**: Currently, there is a shortage of帘子布 and high modulus low shrink丝 inventory, with almost no stock available. [1] 4. **Major Producers and Capacity**: Major domestic producers include Yin Du, Lamei, Kaiping, Xiaoxing, Kesei, etc., with a total domestic capacity of about 37.7 billion tons. Hai Li De is the largest domestic producer, with a capacity of about 7.5 billion tons. [1] 5. **New Capacity and Equipment**: Ocean Technology plans to add 3 billion tons of capacity, but currently lacks配套 spinning equipment, expected to be completed by the end of the year. [1] 6. **Production and Technical Barriers of High Modulus Low Shrink丝**: The equipment for producing high modulus low shrink丝 is different from that of industrial silk, and cannot be interchanged for production. [1] 7. **Future Price Trend**: The supply side is driving up prices, but the demand side has taken a relatively tolerant attitude to prevent suppliers from raising prices too high. The price trend of涤纶帘子布 and high modulus low shrink丝 is relatively fragile, mainly dependent on foreign inventory replenishment demand. Once inventory replenishment ends, prices may fall. [1] 8. **Substitution and Technical Barriers**:涤纶帘子布 is mainly used for semi-steel tires, while尼龙 66帘子布 is mainly used for bias tires and engineering tires. There is a certain substitution relationship between the two in the carcass layer of semi-steel tires. The substitution of涤纶帘子布 for尼龙 66帘子布 has patent barriers involving Xiaoxing and Bridgestone's patents. [1] 9. **Impact of New Energy Vehicles on Tire Demand**: The tire wear rate of new energy vehicles is higher, and the tire service life is only 60% to 80% of that of oil vehicles. The increase in demand for new energy vehicle tires is expected to increase significantly in the future. [1] 10. **Order and Export**: Foreign tire companies have signed annual contracts with polyester帘子布 supply companies, while domestic tire factories negotiate orders monthly. It is expected that demand will remain strong at the end of this year. [1] Q&A Session 1. **Market Changes**: The main change in the market began in February this year. The demand for tires in China, especially the demand for Chinese tire companies, has been good, because the export of Chinese tires began from the beginning of last year. So there is no change in the demand of domestic factories, and the supply has not changed fundamentally either, and has maintained a relatively good level of operation rate. But the growth in February this year is due to the inventory replenishment demand. Since February this year, there has been a surge in帘子布 demand in European and American markets, which was unexpected. We believe that this is due to the inventory replenishment demand of tire factories. [2] 2. **Price Changes**: The price has increased quite a lot recently. Since February, the price of 1300D or 1500D帘子布, which is generally used as a benchmark, has increased from 16,000 yuan/ton to about 21,000 yuan/ton, with a monthly increase of about 1,000 yuan. [2] 3. **Inventory**: Currently, the inventory of the entire industry is very tight, with almost no stock available. [2] 4. **Major Producers and Capacity**: The domestic capacity last year should be about 37.7 billion tons, but we estimate it to be 40 billion tons. Major domestic producers include Yin Du, Lamei, Kaiping, Xiaoxing, Kesei, and Keshui. Among them, Hai Li De is the largest domestic producer, with a capacity of 7.5 billion tons. [2] 5. **New Capacity**: This year, Ocean Technology will increase capacity by 3 billion tons, but it lacks配套spinning equipment, expected to be completed by the end of the year. [2] 6. **New Enterprises in the Market**: New enterprises entering the market need to go through a verification period of half a year to one year before they can officially supply products. [2] 7. **Price Trend**: The supply side is driving up prices, but the demand side has taken a relatively tolerant attitude to prevent suppliers from raising prices too high. [2] 8. **Substitution and Technical Barriers**:涤纶帘子布 is mainly used for semi-steel tires, while尼龙 66帘子布 is mainly used for bias tires and engineering tires. There is a certain substitution relationship between the two in the carcass layer of semi-steel tires. [3] 9. **Impact of New Energy Vehicles on Tire Life**: The wear rate of tires used in new energy vehicles is much higher, and the tire service life is only 60% to 80% of that of oil vehicles. [3] 10. **Order and Export**: Foreign tire companies have signed annual contracts with polyester帘子布 supply companies, while domestic tire factories negotiate orders monthly. [4] Additional Information 1. **New Capacity Expansion**: Ocean Technology, Youfu, and Junma plan to increase high modulus low shrink丝 capacity in the future, but the specific time depends on the delivery and debugging of equipment. [1] 2. **Impact of International Relations on Overseas Expansion**: Under the current international relations, especially in Japan and Germany, the possibility of enterprises expanding overseas is relatively low. This is mainly affected by international relations. [5]

Summary of Conference Call Company or Industry Involved - No specific company or industry mentioned in the provided content Core Points and Arguments - No core points or arguments provided in the content Other Important but Possibly Overlooked Content - The content only includes a greeting and does not provide any substantial information or data related to a company or industry Overall, the provided content does not contain any relevant information regarding a specific company or industry analysis.

本次会议为中国国际金融股份有限公司中金公司闭门会议仅限受邀嘉宾参会未经中金公司和演讲嘉宾书面许可任何机构和个人不得以任何形式将会议内容和相关信息对外公布转发转载传播复制编辑修改等如有上述违法行为中金公司保留追究相关方法律责任的权利 这次会议是中国国际资本合作组织CICC的闭门会议只有邀请客人能够参加不需要CICC和评论员签署的批准没有任何组织或人员能够制止、推进、重新印刷、分析、複製、改编或更改会议内容和相关资讯 各位投资者大家晚上好我是中金的机械分析师郭文秀非常欢迎大家今天晚上能来共同参与我们 这次这个会议首先呢在这个七点到七点半的话呢将由我和我的同事孟慈来共同解读一下我们在上周发布的纺织机械的深度报告然后呢在七点半到八点半的话呢我们将会邀请国内A股市场非常具备代表性的纺织机械企业卓朗集团的众多高管来为大家去解读目前全球尤其是聚焦在纺织机械这个行业发展的情况那么首先呢我们先进入到这个第一个环节关于这个纺织 关于纺织机械报告的一个解读也是建议通过编化参与的投资者也是可以用技能财经端来去进行观看那接下来的话我们将进入到这个报告的解读那么在这次的这个报告里面的话我们其实重点作为我们这个纺织机械的一个开篇之作 核心 ...

没有CICC和评论员的写作允许任何组织或个人都不得删除、复制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、複制、 好的谢谢主持人然后线上的各位投资人大家下午好我是中金和互联网组的分析师肖彦彦欢迎参加今天我们的这篇深度报告的解读的电话会议从去年基于大模型的AI的创新浪潮到来之后让我们看到了新的颠覆式技术的这样的一个魅力 从互联网的角度来讲 我们也是持续的在寻找这种新的颠覆式技术可能未来潜在的一个应用的场景此前我们其实外发过AI Agent相关的深度报告 这次我们主要聚焦的是生产力工具的赛道这篇报告我们将从生产力工具的这样一个远起然后现状的分析商业空间的分析以及说竞争格局的分析标的分析等等的角度来阐述我们对赛道的一些研究 那今天的会议我们将分成两部分第一部分将由我的同事魏蒙和陈浩来给大家介绍一下这篇报告的核心的内容第二部分我们可能留有一部分时间看看做QA的环节接下来我把时间交给我的同事魏蒙和陈浩谢谢 今天跟大家分享一下我们写这篇报告的一个配置 ...