本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、业绩说明会召开情况 浙江天台祥和实业股份有限公司（以下简称"公司"）于 2025 年 9 月 5 日(星 期 五 ) 下 午 13:00-14:00 通 过 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/）召开了 2025 年半年度业绩说明会。公司总经 理汤娇女士、副总经理、董事会秘书齐伟先生、财务总监郑远飞女士、独立董事 陈希琴女士针对 2025 年半年度的经营成果及财务指标的具体情况与投资者进行 互动交流和沟通，在信息披露允许的范围内就投资者普遍关注的问题进行回答。 二、交流的主要问题及本公司的回复情况 （1）请问公司各项业务的经营情况如何？ 证券代码：603500 证券简称：祥和实业 公告编号：2025-047 答：尊敬的投资者您好！报告期内，公司实现营业收入为 38,074.98 万元， 较上年同期增长 6.49%，归属于上市公司股东扣非净利润为 6,304.66 万元，较 上年同期增长 ...

Market Overview - The rail transit equipment sector experienced a decline of 1.52% on September 3, with Xianghe Industrial leading the drop [1] - The Shanghai Composite Index closed at 3813.56, down 1.16%, while the Shenzhen Component Index closed at 12472.0, down 0.65% [1] Individual Stock Performance - Bidetech (605298) saw an increase of 4.15% in its closing price at 34.89, with a trading volume of 82,800 shares and a transaction value of 287 million [1] - Xianghe Industrial (603500) reported a significant decline of 7.56%, closing at 10.76, with a trading volume of 326,800 shares and a transaction value of 357 million [2] - Other notable performers included Gongda High-Tech (688367) with a 1.81% increase and a closing price of 18.60, and Kani Electromechanical (603111) with a 1.17% increase, closing at 7.77 [1] Capital Flow Analysis - The rail transit equipment sector experienced a net outflow of 157 million from institutional investors, while retail investors saw a net inflow of 45.79 million [2] - The main capital inflow was observed in Xianghe Industrial, with a net inflow of 28.57 million from institutional investors, despite a net outflow of 50.42 million from retail investors [3] - Other stocks like Jiaokong Technology (688015) and Times New Materials (600458) also showed mixed capital flows, with varying degrees of net inflows and outflows from different investor categories [3]

Group 1 - The National Standardization Administration and the Ministry of Industry and Information Technology issued a plan to establish a high-quality standard system for industrial mother machines by 2026, aiming to enhance product quality and equipment upgrades, with at least 300 standards to be revised or formulated [2] - The Shanghai Futures Exchange announced the expansion of trading varieties for qualified foreign institutional investors starting September 10, 2025, including new futures and options contracts for petroleum asphalt and fuel oil [2] - The National Medical Insurance Administration is promoting the direct issuance of maternity allowances to individuals, with 20 provinces implementing this system, covering nearly 80% of the coordinated areas [3] - From September 1, new national standards for AI-generated content identification, network attack event determination, and safety of electric bicycles will be implemented to support the healthy development of emerging industries [5] Group 2 - Guizhou Moutai's controlling shareholder increased holdings by 67,821 shares on September 1 [4] - BYD's new energy vehicle sales reached 373,600 units in August [4] - Chengdu Huami launched a high-precision RF ADC chip [4] - JD Group made a voluntary public acquisition offer to CECONOMY [4] - Sichuan Jinding's subsidiary obtained a mining license [4] - Su Da Weige plans to acquire up to 51% of Changzhou Weipu [4] Group 3 - Guotai Junan Securities expects a balanced market expansion, with a focus on new technology trends and consumer demand, recommending sectors like financials and high-dividend stocks [6] - Dongwu Securities highlights the role of policies in supporting AI applications, suggesting a focus on downstream applications with long-term certainty [7] -招商证券 notes marginal improvements in revenue, recommending attention to midstream manufacturing and healthcare sectors [8]

Key Points - The stock price of Tianpu Co. has significantly deviated from its fundamentals after seven consecutive trading days of gains [1] - Dexin Technology clarified that it does not directly produce solid-state batteries after two consecutive trading days of gains [1] - Guizhou Moutai's controlling shareholder increased their stake by 67,821 shares, spending 100 million yuan [3] - Chint Electric has terminated the plan to spin off its subsidiary Chint Aneng for listing on the Shanghai Stock Exchange [4] - Chengdu Huamei launched a 40G high-precision RF direct sampling ADC chip [5] - ST Gaohong faces the risk of being delisted due to its stock price falling below par value [6] - Zhongtai Automobile's subsidiary assets are under compulsory execution, and the company is unable to resume operations this year [7] - The EU has initiated an anti-dumping investigation into Chinese pea protein [8] - Sierte is under investigation for suspected information disclosure violations by the China Securities Regulatory Commission [9] - Shenkai Co. disclosed the results of the tender offer from Shenzhen Huili and will resume trading on September 2 [10] Mergers and Acquisitions - Sudavige plans to acquire up to 51% of Changzhou Weipu Semiconductor Equipment Co., Ltd. [11] - Keli Sensor intends to purchase minority stakes in its subsidiary Huahong Technology for 121.5 million yuan [12] Operating Data - BYD's new energy vehicle sales in August reached 373,600 units, slightly up from 373,100 units in the same month last year [13] - SAIC Motor's vehicle sales in August were 363,400 units, a year-on-year increase of 41.04% [14] - Great Wall Motors sold 115,600 vehicles in August, marking a year-on-year growth of 22.33% [15] - BAIC Blue Valley's subsidiary sold 13,530 vehicles in August, up 3.47% year-on-year [16] - Hanma Technology's truck sales in August reached 1,051 units, a significant increase of 58.05% year-on-year [17] Shareholding Changes - Kesi Technology's key technical personnel Liang Hongjian plans to reduce their stake by up to 3% [18] - Longqi Technology's Suzhou Shunwei intends to reduce its stake by up to 4.09% [19] - Shengtai Group's Itochu Asia plans to reduce its stake by up to 3% [20] - Fangyuan Co.'s WISCO Yuanding intends to reduce its stake by up to 3% [21] - Dekeli's shareholder Qian Mingying and their concerted parties plan to reduce their stake by up to 3% [22] Contract Awards - Samsung Medical's wholly-owned subsidiary signed an overseas operating contract worth 5.88 million USD [24] - Yibin Technology received a project designation from a domestic new energy vehicle company, with an expected total sales of approximately 243 million yuan [24] - Teruid has pre-qualified for two projects with a total value of about 698 million yuan [24] - Xianghe Industrial recently signed a daily operating contract worth 400 million yuan [24] - Far East Holdings' subsidiary signed contracts worth over 1.689 billion yuan in August [24] Other Developments - Gujia Home intends to invest 1.124 billion yuan to build a self-owned base project in Indonesia [24] - Dongtu Technology is investing to establish a controlling subsidiary in the semiconductor sector [24] - Kangli Elevator has terminated the sale of its wholly-owned subsidiary Guangdong Kangli [24]

Group 1: Guizhou Moutai and Shareholder Actions - Guizhou Moutai's controlling shareholder, Moutai Group, increased its stake by 67,821 shares on September 1, 2025, representing 0.0054% of the total share capital, with a planned investment of no less than 30 billion yuan and no more than 33 billion yuan over six months [2] Group 2: BYD and Automotive Sales Data - BYD reported August 2025 sales of 373,626 new energy vehicles, a slight increase from 373,083 units in the same month last year, with a cumulative sales figure of 2,863,876 units for the year, reflecting a 23% year-on-year growth [3] - BAIC BluePark's subsidiary sold 13,530 units in August, up 3.47% year-on-year, with a cumulative total of 90,962 units for the year, marking a 74.7% increase [3] - SAIC Motor's August vehicle sales reached 363,371 units, a 41.04% increase year-on-year, with a cumulative total of 2,753,493 units for the year, up 17.87% [3] Group 3: Regulatory Actions and Company Listings - Sierte has been placed under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws [4] - China Shipbuilding Industry Corporation announced that China Shipbuilding Heavy Industry's A-shares will be delisted on September 5, 2025, due to voluntary termination of listing [6] - ST Gaohong's stock closed at 0.98 yuan per share on September 1, 2025, falling below 1 yuan, which poses a risk of delisting [6] Group 4: Corporate Investments and Projects - Dongtu Technology has established a joint venture, Beijing Dongtu Semiconductor Technology Co., Ltd., with a registered capital of 10 million yuan, in which it holds a 70% stake [7] - Tianqi Co. signed a strategic cooperation framework agreement with Yiwei Lithium Energy to create a closed-loop system for lithium battery manufacturing and recycling [8] - Guangdong Construction's subsidiary has completed a 90MW solar-storage integrated project in Tibet, contributing to a total installed capacity of 4,662.89MW across various clean energy projects [9] - Gujia Home intends to invest approximately 112.37 million yuan in building a manufacturing base in Indonesia to enhance production efficiency and market competitiveness [10]

Group 1 - The core point of the article is that Xianghe Industrial has signed a contract with Zhongyuan Lida Railway Track Technology Development Co., Ltd. for the sale of railway fastening system components, with a total contract value of RMB 399.5352 million, which accounts for approximately 59.84% of the company's audited revenue for the fiscal year 2024 [2] - The execution of this contract is expected to have a positive impact on the company's performance [2]

Group 1 - The company, Xianghe Industrial, announced the receipt of three patent certificates from the National Intellectual Property Administration of the People's Republic of China [2] - The patents include two invention patents for "Detection Method and Equipment for Rail Surface Flaking" and "Detection Method and Equipment for Rail Surface Light Band," as well as a utility model patent for "Rail Detection Equipment" [2]

Core Viewpoint - Zhejiang Tiantai Xianghe Industrial Co., Ltd. has signed several daily operational contracts with Zhongyuan Lida Railway Track Technology Development Co., Ltd., with a total contract amount of RMB 399.5352 million [1] Contract Basic Information - The contracts include the "Railway Fastener System Component Purchase and Sale Contract" and do not require approval from the board of directors or shareholders [2] - Zhongyuan Lida is a limited liability company with a registered capital of RMB 100 million, engaged in the research, production, sales, and service of railway track fastener systems, sleepers, and turnouts [2] Main Contract Terms - The buyer, Zhongyuan Lida, will purchase railway fastener system components from the seller, Xianghe Industrial, for railway construction and maintenance [3] - The total contract price is RMB 399.5352 million, which includes all costs, expenses, and reasonable profits for the seller [3] - Payment terms stipulate that the buyer will not pay a deposit and will settle 95% of the payment within 90 days after receiving the payment from the project owner, with a 5% quality guarantee retained [3] - The seller is responsible for delivering the materials to specified locations, including various railway construction sites [3] - The contract becomes effective upon signature and seal by the legal representatives or authorized representatives of both parties and remains valid until all obligations are fulfilled [3] Impact on the Company - The total contract amount represents approximately 59.84% of the company's audited revenue for the year 2024, which is expected to have a positive impact on the company's current and future operating performance [4]

Group 1 - Weisheng Information won four projects in August with a total amount of 85.5377 million yuan, accounting for 3.12% of the company's total revenue for 2024 [1] - Longqi Technology's shareholder plans to reduce its stake by up to 4.09%, equating to a maximum of 19.1916 million shares [1] - Guojin Modern's subsidiary received a drug registration certificate for injectable Nicardipine, used for treating unstable angina [3][4] Group 2 - SAIC Motor reported a total vehicle sales of 363,400 units in August, a year-on-year increase of 41.04%, with new energy vehicle sales reaching 129,800 units, up 49.89% [5] - Kuka Home plans to invest 1.124 billion yuan to build a self-owned base in Indonesia, aiming to enhance its international strategy [6] - Samsung Medical's subsidiary signed a contract for an intelligent meter project in Egypt worth 58.8 million USD, approximately 419 million yuan [8] Group 3 - North Vehicle Blue Valley's subsidiary reported a total production of 10,587 units in August, a year-on-year decrease of 15.13%, while sales increased by 3.47% [12] - Xianghe Industrial signed contracts worth 400 million yuan for railway fastener system components [13] - Hengrui Medicine's HRS9531 injection has received acceptance for its marketing authorization application [14] Group 4 - Hualu Hengsheng resumed normal production after completing maintenance on production facilities [16] - Shanghai Pharmaceuticals' hydrochloride verapamil injection passed the consistency evaluation for generic drugs [18] - Shanghai Construction received approval for debt financing tools with a registration period of two years [20] Group 5 - Kangli Elevator terminated the sale of its wholly-owned subsidiary due to the buyer's failure to obtain necessary approvals [21] - Times Wan Heng appointed Li Zhizhong as the new deputy general manager [22] - Hanma Technology reported a total truck sales of 1,051 units in August, a year-on-year increase of 58.05% [24] Group 6 - Wenzhou Hongfeng's subsidiary received a utility model patent certificate for a servo adjustment device [26] - Yibin Technology received a project designation from a domestic new energy vehicle company, with an estimated total sales of 243 million yuan over five years [28] - Star Ring Technology's H-share issuance application was accepted by the China Securities Regulatory Commission [30] Group 7 - Microchip Bio's vice president resigned for personal reasons [31] - Zhongxin Co. announced the resignation of a non-independent director due to personal reasons [32] - Changcheng Military Industry's vice chairman resigned due to retirement [35] Group 8 - Jiukang Bio received four invention patent certificates related to detection reagents [36] - Meino Bio's subsidiary changed its registered address [37] - Kuangda Technology announced a potential change in control due to a share transfer [38] Group 9 - China Rare Earth confirmed no undisclosed significant matters amid stock price fluctuations [72]

人民财讯9月1日电，祥和实业（603500）9月1日晚间公告，公司近日与中原利达铁路轨道技术发展有限 公司签订若干项合同，金额合计4亿元，约占公司2024年度营业收入的59.84%，合同的履行对公司业绩 将产生一定积极影响。 ...