证券简称：斯莱克 证券代码：300382 苏州斯莱克精密设备股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------------------|--------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------| | 投资者关系活 \n动类别 \n | √ 特定对象调研 □分析师会议 \n□媒体采访 □业绩说明会 \n□新闻发布会 □路演活动 \n√ 现场参观 \n√ 其他（电话会议） | | | 参与单位名称 | | 汇添富基金、德邦基金、富国基金、国联安基金、中海基金、 | | 及人员姓名 | 安证券、元大证券等机构人员共 | 景顺长城基金、浦银安盛基金、兴业证券、浙商证券、国泰君 21 人 | | | | | | 时间 | 2021 年 11 月 23 日 2021 年 ...

证券简称：斯莱克 证券代码：300382 苏州斯莱克精密设备股份有限公司投资者关系活动记录表 | --- | --- | --- | |--------------|---------------------------------|--------------------------------------------------------| | | □特定对象调研 □分析师会议 | | | 投资者关系活 | □媒体采访 □业绩说明会 | | | 动类别 | □新闻发布会 □路演活动 | | | | □现场参观 | | | | √ 其他（电话会议） | | | 参与单位名称 | 华夏基金、东吴证券等机构人员共 | 7 人 | | 及人员姓名 | | | | 时间 2021 | 年 11 月 4 日 | | | 地点 | 苏州斯莱克精密设备股份有限公司 | | | 上市公司接待 | 董事长兼总经理：安旭先生 | | | 人员姓名 | 董秘兼副总经理：吴晓燕女士 一 . | 公司董事长兼总经理简单介绍公司基本情况。 | | | 二.投资者问答环节： | | | | 1 | 、公司电池壳生产线最新情况怎么样？ ...

证券简称：斯莱克 证券代码：300382 苏州斯莱克精密设备股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------------------|---------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活 \n动类别 \n | □特定对象调研 □分析师会议 \n□媒体采访 □业绩说明会 \n□新闻发布会 □路演活动 \n√ 现场参观 √ 其他（电话会议） | | | 参与单位名称 | | 浙商证券、信达证券、上银基金、德邦基金、中庚基金、上银 | | 及 ...

证券简称：斯莱克 证券代码：300382 苏州斯莱克精密设备股份有限公司投资者关系活动记录表 | --- | --- | --- | |--------------|--------------------------------|--------------------------------------------------------| | | | | | | √ 特定对象调研 □分析师会议 | | | 投资者关系活 | □媒体采访 □业绩说明会 | | | 动类别 | □新闻发布会 □路演活动 | | | | □现场参观 | | | | √ 其他（电话会议） | | | 参与单位名称 | Cloud Alpha ： Gary | | | 及人员姓名 | 博时基金：柴琪婉 | | | | 浙商基金：柴明 | | | | 韶夏投资：张琪、潘焕 | | | | 国君资管：张晨洁 | | | | 民生证券：李京波 | | | 时间 | 2021 年 12 月 8 日 | | | 地点 | 苏州斯莱克精密设备股份有限公司 | | | 上市公司接待 | 董事长兼总经理：安旭先生 | | | 人员姓名 | 董秘兼 ...

证券简称：斯莱克 证券代码：300382 编号：2022-002 苏州斯莱克精密设备股份有限公司投资者关系活动记录表 | --- | --- | --- | |--------------|-------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | □特定对象调研 | □分析师会议 | | 投资者关系活 | □媒体采访 □业绩说明会 | | | 动类别 | □新闻发布会 □路演活动 | | | | □现场参观 | | | | √ 其他（电话会议） | | | | | 摩根华鑫基金、泰达宏利基金、华商基金、农银汇理基金、信达 | | | | 澳银基金、中金基金、南方基金、人保基金、兴全基金、太平基 | | | | 金、上银基金、惠升基金、海富 ...

证券简称：斯莱克 证券代码：300382 编号：2022-007 苏州斯莱克精密设备股份有限公司投资者关系活动记录表 | --- | --- | --- | |--------------|-------------------------------------|------------------------------------------------------------| | | √ 特定对象调研 | □分析师会议 | | 投资者关系活 | □媒体采访 □业绩说明会 | | | 动类别 | □新闻发布会 □路演活动 | | | | √ 现场参观 | | | | √ 其他（电话会议） | | | | 国金证券策略会 | | | | 中信证券策略会 | | | 参与单位名称 | | 南方基金、汇丰晋信基金、浦银安盛基金、信达澳亚基金、混沌 | | 及人员姓名 | 德邦证券、国金证券 | 天成国际资管、中金公司、深圳博普科技、民生证券、安信证券、 | | | | | | 时间 | 2022 年 6 月 23 日-6 月 | 30 日 | | | 地点 苏州斯莱克精密设备股份有限公司 | | | 上市公 ...

Financial Performance - The company's operating revenue for Q3 2022 reached ¥621,032,255, representing a 124.20% increase compared to the same period last year[5] - Net profit attributable to shareholders was ¥110,750,707, a significant increase of 192.56% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥110,639,200, reflecting a 189.27% increase compared to the previous year[5] - Basic earnings per share for the quarter were ¥0.19, up 216.67% from ¥0.06 in the same quarter last year[5] - The company's operating revenue for Q3 2022 reached ¥1,279,795,326.36, a significant increase of 92.15% compared to ¥666,054,267.10 in the same period last year[11] - Net profit for the period was CNY 181,701,747.25, compared to CNY 69,227,499.74 in the previous year, marking an increase of about 162.0%[33] - The total comprehensive income for the period was CNY 184,274,061.07, compared to CNY 67,444,829.23 in the previous year, reflecting an increase of approximately 173.0%[34] Assets and Liabilities - Total assets as of September 30, 2022, amounted to ¥3,878,719,940.68, marking a 44.61% increase from the beginning of the year[5] - The company's total assets increased to CNY 3,878,719,940.68 from CNY 2,682,214,180.38, a growth of about 44.6%[31] - The company's total liabilities increased to CNY 1,446,963,001.27 from CNY 1,340,007,340.64, reflecting a rise of approximately 7.9%[31] - Shareholders' equity attributable to the parent company increased by 76.23% to ¥2,350,630,465.92 compared to the beginning of the year[5] - The total equity attributable to shareholders of the parent company rose to CNY 2,350,630,465.92, up from CNY 1,333,814,622.48, indicating a growth of around 76.2%[31] Cash Flow - Cash flow from operating activities showed a significant decline, with a net outflow of ¥177,073,200, a decrease of 226.52% compared to the previous year[5] - The net cash flow from operating activities was -¥177,073,242.71, a decline of 226.52% compared to ¥139,961,994.68 in the previous year, due to increased cash payments for goods and services[12] - Operating cash flow for the period was -177,073,242.71 CNY, a decrease from 139,961,994.68 CNY in the previous period[35] - Total cash inflow from operating activities was 1,078,834,403.19 CNY, compared to 1,007,565,665.14 CNY in the prior period[35] - Cash outflow from operating activities increased to 1,255,907,645.90 CNY from 867,603,670.46 CNY year-over-year[35] - Net cash flow from investing activities was -640,515,635.94 CNY, worsening from -175,229,649.57 CNY in the previous year[36] - Cash inflow from financing activities was 1,312,796,265.24 CNY, significantly higher than 319,137,119.39 CNY in the prior period[36] - Net cash flow from financing activities improved to 1,029,324,866.04 CNY from -50,943,039.18 CNY year-over-year[36] - The company reported a cash and cash equivalents balance of 514,620,888.70 CNY at the end of the period, up from 329,327,847.20 CNY previously[36] Investments and Acquisitions - The company completed the acquisition of 55% equity in Changzhou Hesheng with a total investment of CNY 91,221,321, which includes a capital contribution of CNY 10,000,000[26] - The goodwill from the acquisition of Changzhou company amounted to ¥27,506,866.93, representing a 78.44% increase from ¥15,415,247.98[11] - The company has approved a total guarantee limit of up to CNY 400,000,000 for inter-company guarantees in 2022[26] - The company provided a guarantee of CNY 180,000,000 for its wholly-owned subsidiary Xi'an Silek Technology Development Co., Ltd. for bank financing[27] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,206, with the largest shareholder, Kales Co., Ltd., holding 46.75% of the shares[13] - The company issued 46,116,740 new shares to 18 investors on August 25, 2022, as part of a targeted stock issuance[18] - The total amount raised from the issuance was confirmed to be deposited into a dedicated account within one month of the funds being in place[18] - The company’s preferred shareholders include major institutional investors such as UBS AG and China Bank, with significant holdings from the stock issuance[16] - The company’s stock issuance was approved by the China Securities Regulatory Commission on July 20, 2022[17] - The company’s stock issuance was part of a broader strategy to enhance capital and support future growth initiatives[17] - The company’s stock issuance was subject to a six-month transfer restriction from the date of listing[16] Research and Development - Research and development expenses for the quarter were CNY 35,163,232.13, compared to CNY 29,292,129.15 in the previous year, an increase of about 20.1%[33] Other Financial Metrics - Operating costs rose to ¥874,162,615.05, reflecting a 119.37% increase from ¥398,488,756.34, driven by higher sales volume[11] - Operating costs for the quarter were CNY 1,037,676,046.59, up from CNY 560,380,475.94, indicating an increase of approximately 85.0%[32] - The financial expenses decreased dramatically by 97.30% to ¥910,760.01 from ¥33,750,717.53, due to foreign exchange gains[11] - The company reported a decrease in financial expenses to CNY 910,760.01 from CNY 33,750,717.53, a reduction of about 97.3%[33]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥658,763,071.11, representing a 69.33% increase compared to ¥389,052,096.31 in the same period last year[22]. - The net profit attributable to shareholders for the first half of 2022 was ¥78,134,438.84, a significant increase of 115.22% from ¥36,304,163.19 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥75,694,554.13, up 139.47% from ¥31,609,937.66 year-on-year[22]. - The basic earnings per share for the first half of 2022 was ¥0.13, reflecting a 116.67% increase compared to ¥0.06 in the same period last year[22]. - The total assets at the end of the reporting period were ¥2,900,933,074.56, an increase of 8.15% from ¥2,682,214,180.38 at the end of the previous year[22]. - The net assets attributable to shareholders at the end of the reporting period were ¥1,411,974,614.41, up 5.86% from ¥1,333,814,622.48 at the end of the previous year[22]. - The net cash flow from operating activities was negative at -¥71,407,991.31, a decline of 160.37% compared to a positive cash flow of ¥118,283,848.69 in the same period last year[22]. - The weighted average return on net assets was 5.64%, an increase of 2.34% from 3.30% in the previous year[22]. Investment and Capital Management - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[4]. - The company has invested RMB 91,221,321 to acquire a 55% stake in Changzhou Hesheng, focusing on the development of key equipment for square aluminum battery shells[41]. - The company has invested ¥292,742,041 in construction projects, which now accounts for 10.09% of total assets, up from 7.98% last year, an increase of 2.11%[77]. - Total fundraising amounted to ¥38,800 million, with ¥6,245.93 million invested during the reporting period and a cumulative investment of ¥30,724.76 million[85]. - The company has utilized ¥11,444.86 million of the raised funds for permanent working capital supplementation[85]. - The company has approved the use of up to ¥2.80 billion of idle raised funds for cash management, focusing on low-risk financial products[88]. - The company has committed RMB 11,640,000 for working capital, with 98.32% of this amount already utilized[90]. - The company has a total approved guarantee amount of 40,000,000 yuan, with an actual guarantee amount of 1,100,000 yuan during the reporting period[168]. Production and Operational Efficiency - The company achieved a maximum production efficiency of 11,200 caps per minute for its high-speed cap production equipment[30]. - The high-speed can production line can achieve a production efficiency of up to 3,000 cans per minute, placing it at the forefront of international standards[34]. - The digital printing mini-line can produce up to 200 cans per minute and has received the International Supplier Innovation Gold Award at the Cantech Grand Tour 2019[37]. - The company has developed a high-speed automated production method for electric vehicle battery shells, resulting in better consistency, higher efficiency, and lower relative costs compared to existing domestic market equipment[40]. - The company's automated battery shell production line enhances production efficiency and product quality consistency, addressing challenges in traditional single-machine production methods[62]. - The company's production efficiency for cap line equipment has increased from 600-700 caps per minute in 2004 to 4,500 caps per minute currently, showcasing significant technological advancement[64]. Market Trends and Industry Insights - The global beverage can market is projected to reach USD 50 billion, with an expected compound annual growth rate of 8.5% from 2021 to 2031[53]. - The demand for aluminum beverage cans in North America is expected to continue increasing over the next 5 to 10 years, driven by a shortage of approximately 10 billion cans in the food and beverage packaging industry[53]. - The company’s performance growth aligns with the development of the beverage can industry, with increasing demand for metal packaging due to environmental regulations and consumer trends[51]. - The food and beverage metal packaging industry in China is projected to achieve a total output of 119 billion units by 2022, with two-piece cans expected to reach 56 billion units[57]. - In June 2022, China's new energy vehicle production and sales reached 590,000 units, a year-on-year increase of 130%, with a market share of 23.8%[58]. - Global new energy vehicle sales reached approximately 4.087 million units in the first half of 2022, a year-on-year increase of 65%, with battery installation capacity at about 195.69 GWh, up 82%[61]. Risks and Challenges - The company faces risks from economic cycle fluctuations, which may impact market demand and fixed asset investment growth in downstream industries[102]. - High market concentration poses competition risks, with major competitors like STOLLE and DRT dominating the market for high-speed can production equipment[103]. - The company has a significant overseas revenue share, which exposes it to risks from international trade tensions and varying economic conditions in different countries[104]. - There is a risk of talent loss and core technology leakage, which could affect the company's competitive advantage and innovation capabilities[105]. - The company must align its R&D efforts with market demands to avoid potential declines in market share and adverse impacts on financial performance[107]. - Management risks may arise from the rapid expansion of the company's operations and investments, necessitating effective management systems[108]. Corporate Governance and Compliance - The company has implemented measures to reduce carbon emissions, ensuring compliance with national and local environmental regulations[140]. - The company emphasizes corporate social responsibility, focusing on employee development and maintaining a safe working environment[140]. - The company adheres to fair and transparent practices in shareholder meetings, ensuring the rights of all investors are respected[140]. - The company has committed to avoiding conflicts of interest and reducing related party transactions[143]. - The company guarantees fair market practices in related transactions to avoid harming the interests of other shareholders[144]. - The company will strictly avoid any actions that could lead to the misappropriation of funds from the listed company[144]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,892[197]. - The largest shareholder, Kolaise Limited, holds 50.46% of the shares, totaling 292,894,080 shares[198]. - The second-largest shareholder, Hong Kong Central Clearing Limited, holds 2.34% of the shares, totaling 13,609,520 shares[198]. - The company has a total of 7 million shares held by the National Social Security Fund, accounting for 1.21%[198]. - The total number of shares held by the top 10 unrestricted shareholders amounts to 350,000,000 shares[199]. - The company has not conducted any repurchase transactions among the top 10 ordinary shareholders during the reporting period[200].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 292,051,543.74, representing a 56.88% increase compared to CNY 186,159,211.88 in the same period last year[4] - Net profit attributable to shareholders was CNY 43,594,632.54, a significant increase of 177.31% from CNY 15,720,584.04 year-on-year[4] - Basic earnings per share increased to CNY 0.08, up 166.67% from CNY 0.03 in the same quarter last year[4] - Operating profit for the quarter was ¥52,726,499.18, up from ¥20,520,886.19, reflecting a growth of 156% year-over-year[33] - Net profit attributable to the parent company was ¥43,594,632.54, compared to ¥15,720,584.04 in Q1 2021, marking an increase of 177%[33] - The company recorded a total comprehensive income of ¥42,367,561.22, significantly higher than ¥14,135,161.61 in Q1 2021[33] Cash Flow - The net cash flow from operating activities was -CNY 51,952,312.51, a decline of 92.02% compared to -CNY 27,055,369.83 in the previous year[4] - The company reported a net cash outflow from operating activities of ¥51,952,312.51, worsening from a net outflow of ¥27,055,369.83 in the previous year[36] - The net cash flow from financing activities increased to 45,211,087.73 from 8,965,878.00 year-over-year[37] - The company's net increase in cash and cash equivalents was -81,204,188.86, compared to -139,993,457.32 in the previous year[37] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,705,794,546.12, reflecting a 0.88% increase from CNY 2,682,214,180.38 at the end of the previous year[4] - The company's current assets decreased to CNY 1,738,876,573.58 from CNY 1,766,164,801.65 at the beginning of the year, reflecting a decline of approximately 1.55%[29] - The company's total liabilities decreased to CNY 1,288,520,382.75 from CNY 1,340,007,340.64, a reduction of approximately 3.85%[30] - The company's non-current assets totaled CNY 966,917,972.54, an increase from CNY 916,049,378.73 at the beginning of the year, reflecting a growth of about 5.6%[30] Shareholder Information - The total number of common shareholders at the end of the reporting period was 15,927[14] - The largest shareholder, Kolaise Limited, holds 50.46% of the shares, totaling 292,894,080 shares, with 13,500,000 shares pledged[14] - The second-largest shareholder, Hong Kong Central Clearing Limited, holds 3.12% of the shares, totaling 18,116,222 shares[14] - The company has no preferred shareholders as of the reporting period[16] Research and Development - The company reported a 37.09% increase in R&D expenses, totaling CNY 9,389,595.71, compared to CNY 6,849,034.52 in the previous year[10] - Research and development expenses increased to ¥9,389,595.71, up from ¥6,849,034.52, indicating a rise of 37% year-over-year[32] Government Subsidies - The company received government subsidies amounting to CNY 2,985,958.94, which is an increase of 182.31% compared to CNY 1,057,671.19 in the previous year[10] Stock and Incentives - The company granted 2,270,102 restricted shares to 66 incentive recipients on March 10, 2022[19] - The company’s stock incentive plan was approved by the shareholders on January 17, 2022[18] - The company has initiated a stock issuance plan to specific targets, with relevant proposals approved by the board[20] Other Financial Metrics - The gross profit margin improved, contributing to a total profit of CNY 52,731,554.42, which is a 159.51% increase from CNY 20,320,003.19 year-on-year[10] - The company plans to invest CNY 30 million as an intention fee for a potential acquisition of Dongguan Ali Automation Co., Ltd. to enhance its capabilities in the new energy battery shell business[26] - The company has extended the timeline for some fundraising investment projects to March 2023[25]

Financial Performance - The company reported a profit distribution plan of cash dividends of RMB 0.50 per 10 shares (including tax) based on a total of 577,629,257 shares[4]. - The company's operating revenue for 2021 was CNY 1,003,491,520, representing a 13.66% increase compared to CNY 882,865,571 in 2020[19]. - The net profit attributable to shareholders for 2021 was CNY 107,425,323, an increase of 67.95% from CNY 64,840,983.5 in 2020[19]. - The net cash flow from operating activities for 2021 was CNY 217,625,157, reflecting a 69.01% increase from CNY 128,762,690 in 2020[19]. - The basic earnings per share for 2021 was CNY 0.19, up 72.73% from CNY 0.11 in 2020[19]. - Total assets at the end of 2021 reached CNY 2,682,214,180, a 21.72% increase from CNY 2,203,602,540 at the end of 2020[19]. - The company's net profit after deducting non-recurring gains and losses for 2021 was CNY 104,068,407, an increase of 86.67% from CNY 56,626,707.2 in 2020[19]. - The weighted average return on equity for 2021 was 9.22%, compared to 6.40% in 2020[19]. - The company reported a total of CNY 3,356,916.09 in non-recurring gains for 2021, down from CNY 8,214,267.97 in 2020[25]. - The company achieved operating revenue of 1,003.49 million yuan, a year-on-year increase of 13.66%[79]. - The net profit attributable to shareholders reached 107.43 million yuan, up 67.95% compared to the previous year[79]. - Total assets amounted to 2,682.21 million yuan, reflecting a year-on-year growth of 21.72%[79]. - The gross profit margin increased by 3% compared to the previous year, recovering from a decline due to the pandemic[79]. - The company reported a total revenue of 1.2 billion RMB for the year 2021, representing a year-on-year growth of 15%[162]. - The net profit for 2021 was 200 million RMB, an increase of 20% compared to the previous year[162]. Market and Industry Insights - The company operates in the precision equipment sector, focusing on advanced manufacturing technologies[14]. - The company operates in the metal packaging industry, focusing on the production of high-speed easy-open lids and cans, and has expanded into the intelligent production lines for new energy battery shells[29]. - The global beverage can market is projected to reach $50 billion by 2021, with a compound annual growth rate (CAGR) of 8.5% from 2021 to 2031[31]. - China's soft drink market revenue reached ¥991.4 billion in 2019, with an average annual growth rate of 5.9% from 2014 to 2019, expected to reach ¥1,323 billion by 2024[32]. - The beer canning rate in China has increased from 15% in 2004 to approximately 30% currently, indicating significant growth potential compared to Japan's 90% and the global average of 50%[36]. - The global demand for power batteries is projected to exceed 650 GWh by 2022, with China maintaining its position as the largest market, holding over 50% market share[41]. - The company forecasts that by 2022, the domestic food and beverage metal packaging industry will achieve a total output of 119 billion units, with two-piece cans expected to reach 56 billion units[36]. - The domestic production of battery shells is primarily based on slow, single-machine production, leading to high costs and inefficiencies; the company aims to enhance production efficiency through automation technology[42]. Strategic Plans and Investments - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[28]. - The company is investing $50 million in R&D for new technologies aimed at improving product efficiency and sustainability[46]. - The company plans to enhance its supply chain efficiency, aiming for a 10% reduction in operational costs[46]. - The company aims to achieve a 55% reduction in greenhouse gas emissions by 2030, in line with EU regulations[47]. - The company is actively pursuing the acquisition of Dongguan Ali's square shell business to enhance production efficiency and capacity for square battery shells[139]. - The company plans to establish ten square shell production lines in Changzhou Laisheng, with production expected to commence in 4-6 months[139]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 500 million yuan allocated for potential deals[165]. - The company aims to explore new business opportunities in the new energy battery shell sector, but may encounter significant challenges in market development and project management[156]. Research and Development - The company invested 38.35 million yuan in R&D, representing a 27.13% increase from the previous period[85]. - The company is investing heavily in R&D, with a budget increase of 15% to 300 million yuan for new technology development[165]. - The company has developed high-speed production equipment for easy-open lids, achieving a maximum production efficiency of 11,200 lids per minute with a mold number of up to 28[48]. - The company has developed a dual-direction double-stretching machine that operates at double the speed of traditional machines, improving production efficiency and reducing energy consumption by over 15%[75]. - The company has established a strong intellectual property portfolio with multiple patents in key processes such as stamping and forming, enhancing its competitive edge in the market[70]. - The company is focusing on technological collaboration with leading enterprises in the battery supply chain to develop new materials and processes, including a new sealing technology[139]. Corporate Governance and Compliance - The company strictly adheres to regulations and has established a sound corporate governance structure, ensuring compliance with relevant laws and regulations[169]. - The board of directors consists of 7 members, including 3 independent directors, and has established four specialized committees[170]. - The company has implemented a performance evaluation and incentive mechanism for senior management, ensuring transparency and compliance with legal standards[171]. - The company emphasizes timely and accurate information disclosure, utilizing designated platforms for investor communication[171]. - The company maintains complete independence from its controlling shareholder, with no interference in business operations or decision-making[174]. - The company has established a robust governance structure, including a board of directors and supervisory board, compliant with legal regulations[175]. Risks and Challenges - The company faces risks from economic cycle fluctuations affecting market demand in the metal packaging industry, influenced by fixed asset investment growth rates[147]. - The company operates in a highly concentrated market with significant competition from established international players, which poses a risk to its market share[148]. - The company is at risk of talent loss and core technology leakage, which could impact its competitive advantage and innovation capabilities[151]. - The company must accurately grasp market demand trends to avoid potential declines in market share and operational performance[152]. - The company faces increased operational cost risks due to rising depreciation, labor, and management expenses as fixed assets and production capacity expand[155]. - The company is at risk of reduced government subsidies if there are unfavorable changes in policies supporting the intelligent equipment manufacturing industry[158].