Core Viewpoint - The company emphasizes its global industrial layout and aims to ensure that U.S.-China relations do not impact customer product demand, including concerns about delivery times and prices [1] Group 1 - The company is committed to providing comprehensive solutions based on customer needs [1] - The company plans to continue strengthening and optimizing its core competitive advantages [1] - The company is actively exploring market opportunities and progressing in an orderly manner [1]

Core Viewpoint - The company, Xiongtao Co., Ltd. (002733), indicated that the revenue share from its hydrogen energy project is currently low but has significant potential for growth [1] Company Summary - Xiongtao Co., Ltd. is actively engaging with investors regarding its hydrogen energy initiatives, highlighting the current low revenue contribution from this segment [1] - The company expresses optimism about the future growth opportunities within the hydrogen energy market [1]

Core Viewpoint - The company asserts that its accounts receivable scale is reasonable and that the overall risk of collection is manageable, emphasizing effective cash flow management and a robust customer credit management system [1] Accounts Receivable Management - The company states that it settles accounts with clients according to agreed settlement cycles, which prevents concentration of settlements in the fourth quarter [1] - Sales in the fourth quarter are typically higher than in the previous three quarters, but settlements are still based on the agreed cycles, avoiding concentration [1] - The company reports that its bad debts or uncollectible accounts are significantly lower than industry levels, indicating no substantial amounts of bad debts or uncollectible receivables [1] Cash Flow Management - The company places a high priority on cash flow management and has established a comprehensive customer credit management system to continuously enhance internal management [1] - The company effectively controls the risk of accounts receivable collection through these management practices [1]

格隆汇11月25日丨雄韬股份(002733.SZ)在投资者互动平台表示，公司湖北京山锂电工厂目前一期、二 期已投入使用。 ...

Group 1 - The company, Xiongtao Co., has won a bid for a hydrogen SOFC power generation system testing service project from China General Nuclear Power Group (CGN) Research Institute [2] - The project involves comprehensive testing of key indicators for CGN's hydrogen SOFC power generation system [2] - The testing will simulate various operating conditions to accurately assess the system's power generation efficiency, lifespan, durability, environmental adaptability, and safety reliability [2]

雄韬股份（002733.SZ）11月25日在投资者互动平台表示，公司湖北京山锂电工厂目前一期、二期已投 入使用。公司参股的钠电公司——盘古新能源公司发展不错。 （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：贵公司前期105亿投资的锂电钠产业园项目目前进展如 何，是否已经投产？ ...

Core Viewpoint - The hydrogen energy project of the company has a low revenue contribution but significant growth potential [2] Company Summary - The company's hydrogen energy project currently has a low revenue share, indicating room for substantial growth in the future [2]

Core Viewpoint - The company acknowledges that its hydrogen energy project currently has low revenue contribution but sees significant growth potential in the future, especially with supportive government policies during the 14th Five-Year Plan period [1]. Company Summary - The company's hydrogen energy project revenue is currently low but has substantial room for growth [1]. - The company is actively communicating and collaborating with relevant parties to explore new development opportunities in the hydrogen energy sector [1]. - The implementation of favorable policies, such as free highway access for hydrogen vehicles in various provinces, is expected to benefit the company's hydrogen energy business [1]. Industry Summary - The hydrogen energy sector is anticipated to experience a growth surge due to strong national support for hydrogen energy policies during the 14th Five-Year Plan [1]. - The company believes that the hydrogen energy industry is entering a promising phase, with many enterprises poised for development [1].

Core Viewpoint - The stock of Xiongtao Co., Ltd. has shown a significant increase of 48.74% year-to-date, despite recent declines in the last five, twenty, and sixty trading days [1][2]. Group 1: Stock Performance - As of November 25, Xiongtao's stock price reached 20.44 CNY per share, with a market capitalization of 7.853 billion CNY [1]. - The stock experienced a net inflow of 232.95 thousand CNY from main funds, with large orders accounting for 20.96% of total buying [1]. - The company has appeared on the trading leaderboard six times this year, with the latest instance on November 11, where it recorded a net purchase of 79.2942 million CNY [1]. Group 2: Financial Performance - For the period from January to September 2025, Xiongtao reported a revenue of 2.38 billion CNY, a year-on-year decrease of 9.39%, and a net profit attributable to shareholders of 106 million CNY, down 10.40% year-on-year [2]. - The company has distributed a total of 475 million CNY in dividends since its A-share listing, with 133 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of October 10, 2025, the number of shareholders for Xiongtao was 45,100, reflecting a 0.49% increase, while the average circulating shares per person decreased by 0.49% to 8,173 shares [2]. - Hong Kong Central Clearing Limited is the second-largest circulating shareholder, holding 16.1953 million shares, an increase of 11.7852 million shares from the previous period [3].

Core Viewpoint - The stock of Xiongtao Co., Ltd. has experienced fluctuations, with a year-to-date increase of 61.91% but a recent decline of 3.47% over the past five trading days [1] Group 1: Stock Performance - As of November 17, Xiongtao's stock price was 22.25 CNY per share, with a market capitalization of 8.549 billion CNY [1] - The stock has seen a trading volume of 1.35 billion CNY and a turnover rate of 1.63% [1] - The stock has appeared on the "Dragon and Tiger List" six times this year, with the most recent net purchase of 79.294 million CNY on November 11 [1] Group 2: Financial Performance - For the period from January to September 2025, Xiongtao reported a revenue of 2.38 billion CNY, a year-on-year decrease of 9.39%, and a net profit attributable to shareholders of 106 million CNY, down 10.40% year-on-year [2] - The company's main business revenue composition includes 60.26% from batteries and materials, 39.58% from lithium batteries, and minimal contributions from fuel cells [2] Group 3: Shareholder Information - As of October 10, the number of shareholders for Xiongtao was 45,100, an increase of 0.49% from the previous period [2] - The average circulating shares per person decreased by 0.49% to 8,173 shares [2] - The company has distributed a total of 475 million CNY in dividends since its A-share listing, with 133 million CNY distributed over the last three years [3]