Group 1: Financial Performance - In 2015, the company's revenue exceeded 1.1 billion, representing a year-on-year increase of 26.6% [2] - The net profit for 2015 was 87.21 million, up 16.26% year-on-year, with the net profit attributable to the parent company also increasing by 16.22% [2] - The company's gross profit margin fluctuated, impacting the alignment between revenue and profit growth [2] Group 2: Product Performance - The revenue share of transformers has been increasing, but they have a relatively low gross margin [2] - Specific product gross margin changes include: - Ring main unit decreased by 1.17% - Pole-mounted switch increased by 0.87% - Box transformer decreased by 0.04% - Other switches increased by 3.01% - Transformer decreased by 0.78% [2] Group 3: Future Development Plans - The company aims to quadruple its revenue within three to five years, targeting 13 billion in revenue by the end of 2015 [2] - The electric grid business accounted for over 80% of revenue in 2015, with plans for non-electric business to reach around 40% in the next three to five years [2] - The company plans to transition from a pure equipment supplier to a comprehensive service provider, including engineering consulting, design, and operation maintenance [3][4] Group 4: Market Opportunities - The company sees significant growth potential in the Southern Power Grid, user projects, and international business [3] - The company has identified a mature approach to user projects, focusing on total engineering contracting and specialized services [3] - The international business is expected to become a significant direction in two years [3] Group 5: Order Growth and Market Trends - In 2015, the national grid's centralized bidding amount increased by 50% year-on-year, with the company's winning amount rising by 30% [5] - The company's bid-winning rate remains around 2.7%, with a projected 20% decline in the first quarter of 2016 for the national grid's initial investment [5] - The company anticipates optimistic growth in orders for pole-mounted switches, transformers, and low-voltage switch cabinets due to significant investments in rural networks [5] Group 6: Gross Margin Improvement - The company aims to improve its gross margin, which has slightly declined in recent years [5][6] - The overall gross margin for transformers is currently 13.64%, with plans to increase the share of amorphous alloy transformers, which are expected to surpass silicon steel transformers [5][6]

Group 1: Company Overview and Market Opportunities - Beijing Hezhong Technology Co., Ltd. is actively engaging with investors to discuss its business prospects and market positioning [1][3]. - The State Grid's investment in rural power grid transformation is projected to exceed 700 billion CNY over the next five years, presenting significant industry opportunities [3][4]. Group 2: Order Growth and Market Expansion - The company has seen a year-on-year increase in orders, attributed to expanding market presence beyond traditional regions like Jiangsu and Shandong to include Northwest and Northeast provinces [4]. - Increased investment from the State Grid each year is a key driver for the company's growing order volume [4]. Group 3: Mergers and Acquisitions Strategy - Currently, the company is seeking suitable acquisition targets that complement its resources and enhance business synergy, rather than merely boosting stock prices [4]. Group 4: Employee Stock Ownership Plan - The company has submitted feedback materials to the China Securities Regulatory Commission regarding its non-public stock issuance application and is awaiting review [5]. Group 5: Financial Performance Insights - Despite high revenue growth, profit margins have not increased significantly due to product mix and gross margin issues, particularly in the transformer segment [5]. - The company anticipates improvement in transformer gross margins in 2016 due to a higher proportion of orders for amorphous alloy transformers [5]. Group 6: Research and Development Focus - The company is enhancing product intelligence and developing environmentally friendly energy-saving solutions, such as a project to replace SF6 with dry clean air in ring main units [5].

Group 1: Company Overview - Hunan Yacheng operates in the new energy and new materials sector, focusing on lithium battery cathode materials, which are essential for mobile phone batteries and electric vehicle power batteries [2] - The company has established strong partnerships with major clients such as Samsung SDI and Taifeng Xianxing, leveraging its production and R&D experience [2] - Currently, the cobalt and iron series products are in high demand, necessitating capacity expansion [2] Group 2: Production and Sales Data - Recent sales figures for cobalt oxide: March - 240 tons, April - 240 tons, May - 220 tons; annual production capacity is 2,000 tons [3] - Market price for cobalt oxide is currently between 350,000 to 370,000 CNY per ton, with a gross margin of 20% [3] - Sales to Taifeng Xianxing in 2016 amounted to 10,174.65 million CNY, accounting for 26.42% of total revenue [3] Group 3: Future Plans and Projections - Plans to increase cobalt production line capacity by 30% through optimization and to reach a total capacity of 15,000 tons for the iron series by early 2018 [2] - The company aims for revenue targets of 3 billion CNY in 2018 and 5 billion CNY by 2020 [5] - Future business development will transition from a single supplier to a comprehensive service provider, including design, engineering, equipment, and operation maintenance [4]

证券代码：300477 证券简称：合纵科技 北京合纵科技股份有限公司投资者关系活动记录表 编号：20170620-01 | --- | --- | --- | |--------------|-----------------------------------|------------------------------------------------------| | | | | | 投资者关系活 | ■ 特定对象调研 | □ 分析师会议 | | 动类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ 其他 | | | 参与单位名称 | 东北证券 孙树明； 民生证券 张文鹏 | | | 及人员姓名 | | | | 时间 | 2017 年 6 月 20 日 | | | 地点 | 北京海淀区上地三街 室） | 9 号嘉华大厦 D 座 1211 （公司第一会议 | | 上市公司接待 | | | | 人员姓名 | 董事会秘书 冯峥 | | | 投资者关系活 | 一、具体交流情况如下： | | | 动主要内容介 | 1 | 、公司 ...

证券代码：300477 证券简称：合纵科技 北京合纵科技股份有限公司投资者关系活动记录表 编号：20170118-01 | --- | --- | --- | |--------------|-------------------------|---------------------------------------------------------| | | | | | 投资者关系活 | ■ 特定对象调研 | □ 分析师会议 | | 动类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ 其他 | | | 参与单位名称 | | 平安证券股份有限公司 皮秀、李小娟；国泰君安证券股份有限 | | 及人员姓名 | | 公司 黎泉宏、张舒；银河证券股份有限公司 于化鹏；华安财 | | | | 保资产管理有限责任公司 张文浩；天风证券股份有限公司 李 | | | | 丹丹、李恩国；光大证券股份有限公司 魏天野、唐雪雯；国海 | | | | 证券股份有限公司 傅鸿浩；安邦资产管理有限责任公司 典亦 | | | | 龙；深圳鑫大通资本 ...

证券代码：300477 证券简称：合纵科技 北京合纵科技股份有限公司投资者关系活动记录表 编号：20200512-01 | --- | --- | --- | |---------------------------|--------------------------------|--------------------------------------------------------------------------------------------------------------------| | | □ 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 | | 财通证券 李帅华、兴业证券 苏东、天风证券 田庆争、格派新能 | | 及人员姓名 | | 源 王佳、安泰科 刘磊、洛阳钼业投资 邓保力、财通资本 陈洋、 润晖投资 蒋暘晶、名禹资产 王玺宇、广东新价值投资 伍梓维 | | | | | | 时间 | ...

Group 1: Company Overview - Beijing Hezhong Technology Co., Ltd. is a manufacturer of distribution equipment, ranking high in bidding amounts from major power grid companies, but experiencing a mismatch between revenue and profit growth [2] - The company is transitioning from a distribution equipment manufacturer to a comprehensive service provider, participating in investment and operation of supporting electric parks [2][3] - The domestic market has thousands of equipment manufacturers, but very few reach a scale of 10 billion, indicating a significant growth opportunity in the largest market globally [2][3] Group 2: Market Insights - The company sees potential in the energy storage market and the development of new energy electric vehicles, entering the lithium battery industry [2][3] - The power market in China is transitioning from a planned economy to a more open structure, which is expected to lower electricity costs [3] - The lithium battery market is projected to grow rapidly, with a focus on energy storage applications and electric vehicles [3] Group 3: Financial Goals and Projections - The company aims to achieve 5 billion in revenue within three years [4] - The internal rate of return (IRR) for park investments is estimated to be between 12% and 18% [4] - Current production capacity for lithium iron phosphate is 500 tons/month, with plans to expand to 800 tons/month and reach 15,000 tons by next year [5] Group 4: Strategic Plans - The company plans to integrate design, engineering, equipment, and operation and maintenance services, capitalizing on the 60% value in equipment materials [3] - The company has not yet developed a strategy for data centers, focusing instead on related engineering and equipment [5] - The pricing strategy for lithium cobalt oxide is primarily determined by supply and demand, with a current gross margin of around 20% [5]

证券代码：300477 证券简称：合纵科技 北京合纵科技股份有限公司投资者关系活动记录表 编号：20191226-01 | --- | --- | --- | |---------------------------|------------------------------------------------------|-------------------------------------------------------------------------------------| | | | | | 投资者关系活 | ■ 特定对象调研 | □ 分析师会议 | | 动类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ 其他 | | | 参与单位名称 | 广发证券股份有限公司：王理廷 | | | 及人员姓名 | 2019-12-26 | | | 时间 地点 | | 湖南省长沙市宁乡经济技术开发区新康路雅城工业园（公司全 | | | | | | | | 资子公司湖南雅城新材料有限公司会议室） | | 上市公司接待 人 ...

编号：20191120-01 证券代码：300477 证券简称：合纵科技 北京合纵科技股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------|----------------------------|--------------------------------------------------------| | | | | | 投资者关系活 | ■ 特定对象调研 | □ 分析师会议 | | 动类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ 其他 | | | 参与单位名称 | | 国泰君安证券：刘华峰、石岩、汤龑、周振武 | | 及人员姓名 时间 | 2019-11-20 | | | 地点 | | 湖南省长沙市宁乡经济技术开发区新康路雅城工业园（公司全 | | | | 资子公司湖南雅城新材料有限公司会议室） | | 上市公司接待 | 副总经理、董事会秘书：张舒 | | | 人员姓名 | 湖南雅城:谢国寿、贺雪红 | | | 投资者关系活 | 具体交流情况如下： | ...

证券代码：300477 证券简称：合纵科技 北京合纵科技股份有限公司投资者关系活动记录表 编号：20180511-01 | --- | --- | --- | |--------------|---------------------------------|--------------------------------------------------------------------------------------------------------------| | | | | | 投资者关系活 | ■ 特定对象调研 | □ 分析师会议 | | 动类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ 其他 | | | 参与单位名称 | | 长江证券罗彪、李潇雨、柳力琨、胡文琪；千为投资李书云、罗 | | 及人员姓名 | 担保李建圆。 | 祺伟；北京信托范云鹏；天津滨海农商银行王鑫、吴刚；首创 | | 时间 | 2018 年 5 月 11 日 | | | 地点 | 北京海淀区上地三街 室） | 9 号嘉华大厦 D ...