福元医药分析师会议 调研日期：2025年04月03日 调研行业：化学制药 参与调研的机构：线上参与公司2024年度业绩说明会的全体投资 者等 / 机构调研pro小程序 DJvanbao.com | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB WHER: AREE: 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆:23 | | 定年代的:用者点击:我要的中:主要原因 | | | START SHILL CARD | | | 颜的集团 | | | 例体位次数 4 | 24/40 33 | | FININ EXIAN, BENN, LEWI | | | 極力集团 | | | · 例计以上的 8 | 品机构管 23 | 构市场到断信记 关注公众号即可体验 机构调研pro小程序~ 扫码关 ...

康斯特分析师会议 调研日期：2025年04月03日 调研行业：仪器仪表 参与调研的机构：东北证券、国泰君安证券、创金合信基金、同 泰基金、淳厚基金等 / 机构调研pro小程序 DJvanbao.com 洞见研报 出品 : 机构调研pro小程序致力于为金融证券投资者提供最新最全的调研会议纪要。 来机构调研pro小程序，了解最新的：行业投资风向、热门公司关注、权威机构分析... 权威完善的信息持续更新! 更多精彩的机构调报告请移步机构调研pro小程序~ 一解投资机构行业关注度。 频判市场 | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆:23 | | 定年代的:用者点击:我要的中:主要原因 | | | STAR ...

华岭股份分析师会议 调研日期：2025年03月26日 调研行业：半导体 参与调研的机构：国投证券、上海鹏山、浙商证券、深圳市尚 诚、深圳市明达等 一解投资机构行业关注度。 频判市场 | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆:23 | | 定年代的:用者点击:我要的中:主要原因 | | | START SHILL CARD | | | 颜的集团 | | | 例体位次数 4 | 24/40 33 | | FININ EXIAN, BENN, LEWI | | | 極力集团 | | | · 例计以上的 8 | 品机构管 23 | / 机构调研pro小程序 DJvanbao.com 洞见研报 出品 : 机构 ...

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The company expects its main budget targets in 2025 to remain stable on a comparable basis to 2024, with controllable costs due to a cautious and stable overall tone and improved refined management [23]. - The company is optimistic about the probiotic category and the development of the Lifespace brand, and will continue to invest resources in it, aiming to build it as the "preferred probiotic brand" [23]. - In 2025, the company will deepen the implementation of the strong - brand strategy, focusing on building product power and brand awareness, and upgrading brand management across all touchpoints [23][24]. - The company will take measures to improve the competitiveness of both online and offline sales channels in 2025, aiming to increase market share and operating efficiency [24]. - The company will address the issue of price differences across channels by creating a differentiated product portfolio for all channels and strengthening product differentiation among different channels [25]. 3. Summary by Directory 3.1. Research Basic Situation - The research object is BY - HEALTH, belonging to the food and beverage industry. The reception time was March 27, 2025. The company's directors, general manager, independent directors, board secretary, and financial director received the investors [16]. 3.2. Detailed Research Institutions - BY - HEALTH's 2024 annual performance briefing was conducted remotely online, targeting all investors [19]. 3.3. Research Institution Proportion No information provided. 3.4. Main Content Data - **Sales Expense Ratio**: The company expects its main budget targets in 2025 to remain stable on a comparable basis to 2024, and will improve refined management to ensure reasonable cost investment [23]. - **Probiotic Competitiveness**: The company is optimistic about the probiotic category and the Lifespace brand, and will continue to invest resources, apply patented strains, build a differentiated product matrix, and expand global channels [23]. - **Advertising Strategy**: In 2025, the company will deepen the strong - brand strategy, build product power and brand awareness, and optimize brand resource allocation [23][24]. - **Online and Offline Channels**: The company will take measures to activate dealers and terminals, enhance core chain promotion, expand product categories, and carry out terminal activities offline; online, it will invest in high - quality e - commerce, optimize strategies, and improve operational efficiency [24]. - **Market Competition and Product Pricing**: The company will address market competition by differentiating products across channels and price bands; it will also solve the problem of price differences by creating a differentiated product portfolio for all channels [25].

Group 1: Report Overview - The report is about a research meeting of Longyang Electronics, with a research date of March 27, 2025, and the research industry is electronic components [1][2] Group 2: Research Details 1. Basic Research Information - The research object is Longyang Electronics, belonging to the electronic components industry. The reception time was on March 27, 2025. The company's reception staff included the assistant to the chairman, Xiao Qinghua, the board secretary, Jin Weiqin, and the securities affairs representative, Shi Yi [17] 2. Detailed Research Institutions - The institutions participating in the research are CITIC Construction Investment (a securities company) and China Merchants Fund (a fund management company) [18] 3. Main Content Company Introduction and 2024 Business Performance - In 2024, the company achieved an operating income of 287,942,035.52 yuan, a year - on - year increase of 8.51%. The net profit attributable to shareholders of the listed company was 82,231,686.40 yuan, a year - on - year decrease of 15.02%. The net profit attributable to shareholders of the listed company after deducting non - recurring gains and losses was 77,434,121.87 yuan, a year - on - year decrease of 14.79% [21] Interactive Q&A - **HVLP Copper Foil Product Release**: The company initially released relevant products at the TPCA exhibition in Taiwan, China in October 2024. Currently, it is in the verification and testing phase with customers, and has not yet generated revenue [21] - **M&A Project Progress**: The company has hired intermediary institutions to actively conduct due diligence, auditing, and evaluation of the target company. The relevant parties to the transaction have not yet signed formal transaction documents [21] - **HVLP5 Copper Foil Sampling Verification**: The company mainly targets direct downstream customers, CCL factories, and the products are in the testing and verification phase with customers. Due to commercial policy restrictions, the company cannot disclose specific customers without permission [22]

1. Report Industry Investment Rating - No information provided in the document. 2. Core Viewpoints of the Report - The company is making efforts to turn losses into profits in 2025 by seizing aviation product orders, accelerating the mass production of new automotive parts production lines, strengthening the lean management of two - funds and risk control, promoting project - based management, and enhancing quality management [28][29]. - The company is undergoing business transformation and upgrading. The aviation parts business is shifting from single - CNC processing to delivering parts and components, and the automotive mold and parts business focuses on products supporting new energy vehicles and automotive lightweighting. It is also exploring new business areas such as drone fuselage manufacturing [26]. - The company is deploying AI models privately and will continue to promote AI's empowerment in business areas such as data analysis and compliance [27]. 3. Summary by Relevant Catalogs 3.1. Research Basic Situation - The research object is Chengfei Integration, belonging to the automotive parts industry. The reception time was on March 27, 2025. The listed company's reception personnel included the host, the chairman Shi Xiaoqing, the chief accountant and board secretary Cheng Yan, and the independent director Chen Binbo [16]. 3.2. Detailed Research Institutions - The 2024 annual performance briefing of Chengfei Integration was conducted remotely online, targeting all investors [19]. 3.3. Research Institution Proportion - No information provided in the document. 3.4. Main Content Data - **Business Performance and Outlook**: The company's 2024 performance declined, mainly affected by the decrease in the gross profit margins of aviation parts and automotive mold businesses, as well as the increase in financial expenses, R & D expenses, and non - operating expenses. The company's aviation product business is expected to improve this year due to the increase in order volume last year. The subsidiary Jicheng Jiwen has multiple automotive parts models in mass production since the fourth quarter of last year, and the newly invested production lines in the past two years will improve utilization efficiency [23][27]. - **Investment in Zhongchuang Aviation**: The company holds 5.97% of Zhongchuang Aviation's shares, which are classified as other equity instruments. Zhongchuang Aviation's profit in 2024 was 844 million yuan, a year - on - year increase of 93%. The company's profit is not affected by Zhongchuang Aviation's profit, only the other comprehensive income at the bottom of the income statement. The company will dispose of Zhongchuang Aviation shares opportunistically [24][25]. - **Asset Disposal**: Anhui Jiwen's asset disposal in 2024 achieved a profit, contributing 1.2925 million yuan to the company's profit through equity - method accounting based on the annual profit and the company's 45% shareholding ratio [25]. - **Business Transformation and Expansion**: The company is exploring the possibility of expanding its mold and 3D printing technologies to bearing production, but currently, its large - scale automotive mold production has little relevance to bearing production, and it has not adopted 3D printing technology. The company is also researching drone fuselage manufacturing processes [26]. - **Aviation Engine Business**: The company's aviation engine business mainly refers to aviation engine parts business, which is currently mainly self - undertaken [27]. - **Comparison with Guihang Co., Ltd.**: The company and Guihang Co., Ltd. have significant differences in products and customers. The company's 2024 performance decline was mainly due to factors such as the decrease in gross profit margins and the increase in various expenses [27]. - **Development Plans**: The company is starting to compile the 14th Five - Year Plan this year, which will be finalized by the end of the year. It is also researching and formulating plans for the low - altitude economy market [27][28]. - **Inventory of Automotive Parts**: The company's automotive parts inventory is mainly prepared according to customer production plans, and there is little risk of impairment [27]. - **Gross Profit Margin Improvement**: For the aviation parts business, it aims to increase business income by seizing market orders, strengthening communication with core customers, and expanding business areas. For the tooling mold business, it focuses on cost - reduction and efficiency - improvement through technological innovation and lean management [29]. - **HFQ Orders**: The HFQ (aluminum alloy warm - forming) production line has achieved mass production of products for two projects of Lotus and Guoxuan High - tech, completed the trial production of 4 projects within the year, and successfully won an order from Leapmotor [29].

盛新锂能分析师会议 调研日期：2025年03月26日 调研行业：能源金属 参与调研的机构：线上参与公司2024年度网上业绩说明会的投资 者等 / 机构调研pro小程序 DJvanbao.com 洞见研报 出品 : 机构调研pro小程序致力于为金融证券投资者提供最新最全的调研会议纪要。 来机构调研pro小程序，了解最新的：行业投资风向、热门公司关注、权威机构分析... 权威完善的信息持续更新! 更多精彩的机构调报告请移步机构调研pro小程序~ 一解投资机构行业关注度。 频判市场 | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆:23 | | 定年代的:用者点击:我要的中:主要原因 | | | START SH ...

东亚机械分析师会议 调研日期：2025年03月25日 / 机构调研pro小程序 DJvanbao.com 洞见研报 出品 : 机构调研pro小程序致力于为金融证券投资者提供最新最全的调研会议纪要。 来机构调研pro小程序，了解最新的：行业投资风向、热门公司关注、权威机构分析... 权威完善的信息持续更新! 更多精彩的机构调报告请移步机构调研pro小程序~ 一解投资机构行业关注度。 频判市场 调研行业：通用设备 参与调研的机构：广发证券等 01 调研基本情况 | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆:23 | | 定年代的:用者点击:我要的中:主要原因 | | | START SHILL CARD | ...

Group 1: Report Overview - Report research object: Northeast Pharmaceutical [17] - Industry: Chemical Pharmaceuticals [2] - Research date: March 25, 2025 [17] - Participating research institutions: Bosera Fund [20] Group 2: Company Product Information - Dingcheng Peptide Source has developed over 10 cell therapy products targeting KRAS mutations, EGFRvIII, and Claudin18.2 for pancreatic cancer, colorectal cancer, gastric cancer, liver cancer, and glioblastoma [22] - TCR - T uses T - cells from cancer patients, transfers TCR genes to recognize tumor antigens, and then returns the T - cells to the patient's body; TCR protein drugs are new biological macromolecular drugs that activate T - cells in patients' bodies without using the patients' own T - cells [24] Group 3: Company Technology and Cost - Dingcheng Peptide Source has established technology platforms for plasmid, virus, and cell process research and quality research, aiming to improve production efficiency and reduce costs [22] - Northeast Pharmaceutical's self - designed steam daily cost information accounting system can automatically and accurately calculate steam daily costs, support production and operation decisions, and provide data for energy cost control [24][25] Group 4: Company Marketing Strategy - Northeast Pharmaceutical's overall marketing strategy is to "focus on terminals, increase pure sales, drive through academics, manage precisely, and expand market share", including measures such as terminal development, sales structure adjustment, new product development, and incentive policy formulation [25] Group 5: Company Talent Recruitment - Northeast Pharmaceutical's large - scale recruitment of master's and doctoral talents is to strengthen R & D, implement the transformation and upgrading strategy, and develop the biopharmaceutical innovation track [27]