Summary of Karen Co. Conference Call Company Overview - **Company**: Karen Co. (凯伦股份) - **Date**: September 18, 2025 Key Financial Performance - **Net Profit**: Karen Co. reported a net profit attributable to shareholders of over 12 million yuan, a year-on-year increase of 183.22% [2][3] - **Operating Cash Flow**: Net cash flow from operating activities improved significantly, increasing by 116% to 50 million yuan [2][3] - **Earnings Per Share**: Basic earnings per share rose by 250% to 0.07 yuan [2][3] Business Strategy Adjustments - **Waterproof Business**: The company proactively adjusted its waterproof business strategy by reducing cooperation with clients that have long payment cycles, leading to a decrease in revenue but an improvement in sales quality [2][4] - **Accounts Receivable Management**: Enhanced management of accounts receivable resulted in cash received from sales accounting for a 15% increase in operating revenue compared to the previous year [2][4] Acquisition of Jiazhi Color - **Acquisition Details**: In April 2025, Karen Co. acquired 41% of Jiazhi Color for 390 million yuan, focusing on optical, mechanical, and electrical testing systems for new display panels [2][6] - **Performance Commitments**: Jiazhi Color committed to achieving net profits of no less than 55 million, 75 million, and 110 million yuan from 2025 to 2027, with a performance completion rate of 126% in the first half of 2025 [2][7] Industry Insights - **Display Panel Industry Growth**: The display panel industry is benefiting from national policy support and expanding downstream demand, particularly in traditional sectors like smartphones and TVs, as well as emerging fields such as commercial displays, VR/AR, and automotive displays [2][8][9] - **Technological Innovation**: Chinese companies are maturing in LCD technology and making significant advancements in OLED, Mini LED, and Micro LED technologies, enhancing their competitiveness against international giants [2][9] Competitive Advantages of Jiazhi Color - **Technical Expertise**: Jiazhi Color possesses deep technical expertise and a comprehensive product system, with a strong focus on high-resolution imaging and automated processing capabilities [2][10] - **Market Position**: The company has established a leading position in the OLED detection equipment market and is expanding into AR/VR and outdoor mini LED markets, which are expected to become significant growth areas [2][11] Future Growth Opportunities - **AR/VR Market**: The AR/VR sector is projected to see substantial investment, with Jiazhi Color already securing significant orders from leading clients [2][11] - **Mini LED Market**: The outdoor mini LED market is anticipated to reach a scale of 300 to 500 billion yuan, representing another key area for performance enhancement [2][11] Synergies Between Karen Co. and Jiazhi Color - **Operational Collaboration**: Both companies are planning to collaborate on production expansion, leveraging proximity to enhance capacity utilization [2][15] - **Talent Acquisition**: Karen Co. supports Jiazhi Color in attracting top industry talent, enhancing their competitive edge [2][16] Technical Innovations - **Dual-layer OLED Technology**: The dual-layer OLED screens offer superior energy efficiency and color performance, indicating a high market demand for this new technology [2][17] This summary encapsulates the key points from the conference call, highlighting the financial performance, strategic adjustments, acquisition impacts, industry trends, competitive advantages, future growth opportunities, and synergies between the companies involved.

Group 1 - The renovation and building materials sector increased by 0.34% compared to the previous trading day, with Yibang Diao Ding leading the gains [1] - On the same day, the Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] - Key stocks in the renovation and building materials sector showed significant price increases, with Yibang Diao Ding rising by 6.23% to a closing price of 23.36 [1] Group 2 - The main capital flow in the renovation and building materials sector showed a net outflow of 38.55 million yuan from institutional investors, while retail investors contributed a net inflow of 31.46 million yuan [3] - The overall capital flow indicates a mixed sentiment, with retail investors showing interest despite the net outflow from institutional investors [3]

Group 1 - The reducer sector leads the market with an increase of 3.25% [1] - Among the companies, Shuanghuan Transmission rises by 10.0% [1] - Jiangshun Technology increases by 9.99% [1] - Dazhu Laser sees a rise of 7.04% [1] - Other companies such as Jingzhu Technology, Shanzi Gaoke, and Changying Precision also experience gains exceeding 6% [1]

Group 1 - The company, Kailun Co., Ltd. (300715), announced that all guarantee businesses conducted by the company and its subsidiaries are within the scope of consolidated financial statements [1] - There are no external guarantees, overdue external guarantees, or guarantees involving litigation [1]

证券代码：300715 证券简称：凯伦股份 公告编号:2025-073 江苏凯伦建材股份有限公司 关于为控股子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，不存在 虚假记载、误导性陈述或重大遗漏。 特别风险提示： 本次被担保对象的资产负债率超过 70%，敬请广大投资者注意投资风险。 一、担保情况概述 江苏凯伦建材股份有限公司（以下简称"公司"、"保证人"）第五届董事会 第十九次会议和 2025 年第二次临时股东大会审议通过了《关于为控股子公司提 供担保的议案》，同意公司为控股子公司湖北纽凯伦轨道交通新材料有限公司（以 下简称"纽凯伦"或"主债务人"）提供总额不超过人民币 4,000 万元的连带保 证责任。担保期限自公司 2025 年第二次临时股东大会审议批准之日起 12 个月。 具体内容详见 2025 年 8 月 26 日刊登在中国证监会指定的创业板信息披露网站上 的《关于为控股子公司提供担保的公告》。 二、担保进展情况 近日，公司与湖北黄冈农村商业银行股份有限公司宝塔支行（以下简称"债 权人"）签订了《保证合同》，公司为确保债权人与纽凯伦签订的《流动资金借款 合同》（以下 ...

Group 1 - The core issue involves the failure of the actual controller and directors of Kairun Co., Ltd. to fulfill their commitment regarding the collection of accounts receivable from Evergrande Group, amounting to 188 million yuan, which was due by the end of 2022 [2] - The company has been ordered to make payments in three installments from 2023 to 2025, totaling approximately 37.67 million yuan, 56.50 million yuan, and 94.16 million yuan, respectively [2] - The responsible individuals have been subjected to administrative regulatory measures and their actions have been recorded in the securities and futures market integrity archives [3] Group 2 - Kairun Co., Ltd. reported a revenue of 1.148 billion yuan in the first half of the year, representing a year-on-year decrease of 5.92% [3] - The net profit attributable to the parent company was 25.81 million yuan, showing a significant year-on-year increase of 232.48% [3] - The company recorded an asset impairment of 16.10 million yuan, primarily due to increased provisions for accounts receivable and housing compensation [3]

证券代码：300715 证券简称：凯伦股份 公告编号：2025-072 江苏凯伦建材股份有限公司 1、本次股东大会未出现否决议案的情形； 2、本次股东大会召开期间没有增加或变更议案； 3、本次股东大会未涉及变更以往股东大会已通过的决议； 4、本次会议采用现场会议与网络投票相结合的方式。 一、会议召开和出席情况 1、召开时间： （1）现场会议召开时间：2025 年 9 月 11 日（星期四）下午 14:30。 （2）网络投票时间：2025年9月11日，其中通过深圳证券交易所交易系统进 行网络投票的具体时间为：2025年9月11日9:15-9:25，9:30-11:30和13:00-15:00； 通过深圳证券交易所互联网投票系统投票的具体时间为：2025年9月11日 9:15-15:00期间的任意时间。 2025年第二次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 2、召开地点：江苏省苏州市吴江区东太湖大道 11588 号财智汇商务大厦 C 幢 15 楼。 3、召集人：江苏凯伦建材股份有限公司董事会。 4、主持人：董事长钱林弟先 ...

2021年10月22日，江苏凯伦建材股份有限公司(以下简称凯伦股份)实际控制 人钱林弟、董事李忠人、董事张勇、董事季歆宇承诺，截至当日凯伦股份对恒大 集团及其成员企业的应收账款及应收票据余额合计1.88亿元，如在2022年12月31 日未能收回的，由承诺人承担，并在2022-2024年年报披露后的60个工作日内分 期支付，每年支付比例为实际损失的20%、30%和50%。截至2022年12月31日，前 述应收账款未收回，承诺人应于2023年至2025年分三期支付3,766.54万元、 5,649.82万元、9,416.36万元。 经查，截至目前，钱林弟、李忠人、张勇尚未支付2025年度的补偿款，承诺 履行期限届满未履行，违反了《上市公司监管指引第4号--上市公司及相关方承 诺》(证监会公告(2025)5号，以下简称《4号指引》)第十五条第一款规定。依据 《4号指引》第十七条规定，我局决定对你们采取责令改正的行政监管措施，并 记入证券期货市场诚信档案。你们应当加强证券法律法规学习，积极采取措施， 尽快履行承诺义务，并于收到本决定书之日起10个工作日内向我局提交书面报告。 证券代码：300715 证券简称：凯伦股份 ...

北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 关于江苏凯伦建材股份有限公司 2025 年第二次临时股东大会的 国枫律股字[2025]A0429 号 致：江苏凯伦建材股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出 席并见证贵公司 2025 年第二次临时股东大会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》 （以下简称"《股东会规则》"）、《律师事务所从事证券法律业务管理办法》 （以下简称"《证券法律业务管理办法》"）、《律师事务所证券法律业务执业 规则（试行）》（以下简称"《证券法律业务执业规则》"）等相关法律、行政 法规、规章、规范性文件及《江苏凯伦建材股份有限公司章程》（以下简称"《公 司章程》"）的规定，就本次会议的召集与召开程序、召集人资格、出席会议人 员资格、会议表决程序及表决结果等事宜，出具本法律意见书 ...

证券代码：300715 证券简称：凯伦股份 公告编号:2025-070 江苏凯伦建材股份有限公司 关于公司相关方承诺事项履行情况的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，不存在 虚假记载、误导性陈述或重大遗漏。 一、承诺基本情况 | | | 注：钱林弟先生2021年10月22日的持股数量包含凯伦控股投资有限公司当日持有公司股 份的数量。 各承诺人按照承诺出具当日各自持有公司股份数量占承诺人持有公司股份 总量的比例承担各自的承诺责任。 二、承诺进展情况 江苏凯伦建材股份有限公司(以下简称"公司")于2021年10月22日收到公司 董事长钱林弟先生、董事李忠人先生、董事张勇先生、原董事季歆宇先生（以下 简称"承诺人"）出具的《承诺函》。主要内容为：为解决恒大集团及其成员企业 向公司购买防水卷材、涂料等产品业务中出现的商业承兑汇票逾期未兑付问题， 承诺人承诺，对截至2021年10月22日公司应收恒大集团及其成员企业的应收账款 及应收票据余额合计18,832.72万元，如在2022年12月31日前无法足额兑付，由 此造成的资产减值损失由承诺人承担，并在2023年-2025年分期支付，每年支 ...