（文章来源：证券日报） 证券日报网12月19日讯常宝股份在12月17日至12月18日回答调研者提问时表示，公司始终坚持积极回馈 投资者，自2010年上市以来保持连续分红传统。公司将坚持业务发展与股东回报相平衡的核心原则，在 综合考量年度盈利水平，以及设备升级改造、数字化与智能化转型、项目建设等核心资本开支需求的基 础上，统筹兼顾股东合理回报与公司长期成长价值的实现。在夯实长远发展基础的前提下，努力为全体 投资者创造稳定、可持续的投资回报，切实保障投资者的合法权益。 ...

Core Viewpoint - The company has focused on high-end project construction, production line technology upgrades, automation, and intelligent transformation, which has strengthened its overall competitiveness and high-end development capabilities [2] Group 1: Investment and Development Strategy - The company has made continuous capital investments in high-end project construction, production line technology upgrades, automation, and product research and development [2] - Future investments will continue in production line technology upgrades and automation/intelligent construction to flexibly respond to market demands and technological advancements [2] Group 2: Market Opportunities - The company will keep a close watch on changes in the external environment and will seize opportunities in overseas markets based on comprehensive assessments [2]

Core Insights - The "2025 China Engineering Pipeline and Pipe Material Comprehensive Strength Supplier Top 100" list has been released, showcasing the top suppliers in the engineering pipeline and pipe material industry across China [1] - The list evaluates suppliers based on multiple criteria including production scale, technological research and development capabilities, product quality, market share, brand influence, financial status, after-sales service, and social responsibility [1] - The publication aims to provide a clear map of the industry's strength, support collaboration within the supply chain, assist investment institutions, and guide industry policy formulation [1] Supplier Evaluation - The top 100 suppliers represent the backbone of China's engineering pipeline and pipe material industry, indicating the mainstream direction and overall level of industry development [1] - The suppliers are distributed nationwide and offer a diverse range of products to meet various engineering needs [1] Industry Goals - The initiative encourages all companies to benchmark against advanced peers and strive for progress, contributing to China's transition from a major manufacturing country to a strong manufacturing nation [1]

Core Viewpoint - The company emphasizes talent as a core development element and is focused on talent team building and incentive mechanism optimization [1] Group 1: Talent Management - The company has implemented restricted stock incentive plans in 2021 and 2023, along with an employee stock ownership plan in 2023 to enhance team cohesion and motivation [1] - Future plans include researching and advancing equity incentive measures that align with the company's development stage, while continuously optimizing the performance compensation system [1] Group 2: Strategic Development - The company aims to closely align its initiatives with mid-to-long-term development strategies, business expansion, and core team building needs [1] - The goal is to establish a normalized employee incentive mechanism to promote mutual growth and development between employees and the company [1]

（编辑 王雪儿） 证券日报网12月19日讯 常宝股份在12月17日至12月18日回答调研者提问时表示，公司自2010年上市时 就募投开发HRSG产品产线，通过多年的技术研究、产品开发、技术积累及市场开拓，HRSG产品已经 成为公司重点特色产品。公司可生产超长、超薄、高钢级HRSG产品。通过核心技术工艺控制，逐步形 成了质量优、交期快、多品种、小批量竞争优势。近年来，公司HRSG产品产销量逐年上升，长期与国 内外头部品牌企业保持稳定供货。近年来，全球燃气轮机发电新增装机量稳步上升，公司HRSG产品作 为燃气轮机联合循环发电余热回收系统的重要部件，能有效回收排气余热实现二次发电，助力提升能源 利用效率。公司将持续加大HRSG产品的产能挖潜和结构升级，进一步开发不锈钢及镍基产品，持续提 升产品的竞争力和价值率。 ...

Core Viewpoint - Changbao Co., Ltd. has announced that its Changbao Special Materials project was officially completed and commenced production on November 21, 2025, and is currently undergoing process debugging, customer certification, sample testing, and market expansion efforts [1] Group 1 - The company is focusing on the market development of products such as stainless steel boiler tubes, HRSG products, high-end heat exchanger tubes, and nickel-based alloy oil pipes [1] - There are plans to promote the research and development of domestic substitute products in fields such as marine umbilical cable pipes and EP pipes [1] - The company aims to achieve the established goals of the project as soon as possible [1]

Group 1: Company Overview - Jiangsu Changbao Steel Tube Co., Ltd. specializes in the research, manufacturing, and service of special pipes, established in 1958 and listed on the Shenzhen Stock Exchange in 2010 [2][3] - The company focuses on small-diameter special seamless pipes, with an annual production capacity of 1 million tons [3] - Key products include oil pipes, alloy high-pressure boiler pipes, HRSG ultra-long pipes, and U-shaped pipes for heat exchangers, which have high brand recognition and core competitiveness [3] Group 2: Financial Performance - In the first three quarters of 2025, the company achieved revenue of CNY 4.284 billion, net profit attributable to shareholders of CNY 392 million, and a net operating cash flow of CNY 249 million [3] - The company maintains a stable operational performance with a focus on long-term value management and brand development [3] Group 3: Product Strategy and Development - The company aims to strengthen its product planning by focusing on high-end, brand-oriented, and specialized products, particularly in the oil pipe and boiler pipe sectors [4][5] - HRSG products have become a key focus, with production capabilities for ultra-long, ultra-thin, and high-grade products, contributing to energy efficiency in gas turbine power generation [5] - The Changbao special materials project is a milestone for high-end upgrades, with production starting on November 21, 2025, aimed at overcoming technical bottlenecks and expanding high-value applications [6][7] Group 4: Capital Expenditure and Investment - Recent capital investments have been directed towards high-end project construction, production line upgrades, and automation to enhance competitiveness [8] - The company plans to continue investing in technology upgrades and automation to respond flexibly to market demands [8] Group 5: Employee Incentives and Shareholder Returns - The company values talent development and has implemented stock incentive plans in 2021 and 2023 to enhance team cohesion [9] - It maintains a tradition of continuous dividends since its listing, balancing business growth with shareholder returns while considering capital expenditure needs [10][11]

常宝股份（002478.SZ）12月16日在投资者互动平台表示，公司专注于各种特种专用管材及精密管的研 发及制造，目前产品主要应用于油气开采、电站锅炉、石化、工程机械、汽车、船舶等相关领域和细分 市场。公司目前的产品暂不涉及商业航天领域。随着公司高端化升级推进，根据特材项目的产品大纲及 规划，公司将根据市场需求情况，推进包括航空航天的油路用管及液压控制管路等各种高端特种精密管 的开发。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问公司生产的产品有涉及到商业航天相关领域吗？ ...

格隆汇12月16日丨常宝股份(002478.SZ)在投资者互动平台表示，公司专注于各种特种专用管材及精密 管的研发及制造，目前产品主要应用于油气开采、电站锅炉、石化、工程机械、汽车、船舶等相关领域 和细分市场。公司目前的产品暂不涉及商业航天领域。随着公司高端化升级推进，根据特材项目的产品 大纲及规划，公司将根据市场需求情况，推进包括航空航天的油路用管及液压控制管路等各种高端特种 精密管的开发。 ...

中证报中证网讯（记者 孟培嘉）常宝股份（002478）在12月15日披露的投资者关系活动记录表中表 示，公司锅炉管产品主要聚焦两大应用领域，包括燃煤发电机组用锅炉管与燃气轮机联合循环发电用 HRSG（余热锅炉）管。 "在燃气轮机联合循环发电用HRSG管领域，近几年国际市场燃气发电机组装机规模正稳步提升，HRSG 管市场需求稳健。"常宝股份相关负责人表示，目前综合行业政策导向、下游需求支撑及当前市场需 求，预计锅炉管市场整体将保持景气态势。公司将加大锅炉管产能潜力挖掘与产品结构升级优化力度。 ...