中研股份：完善产业配套，加快开展高端制造等应用领域产品研发

Core Viewpoint - Zhongyan Co., Ltd. (688716) held a performance briefing on December 2, 2025, discussing its operational results and financial indicators for Q3 2025, highlighting its advancements in PEEK (polyether ether ketone) production and applications [1][2]. Financial Performance - For the first three quarters of 2025, Zhongyan achieved revenue of 207 million yuan, a year-on-year increase of 7.13% [2] - The net profit was 10.43 million yuan, a decrease of 65.07% year-on-year [2] - The non-recurring net profit was 4.70 million yuan, down 76.22% year-on-year [2] Business Strategy and Market Position - Zhongyan is the fourth global company to reach an annual PEEK production capacity of over 1,000 tons, and the second globally to use a 5,000L reactor for PEEK polymerization, making it the largest PEEK producer in China [1] - The company emphasizes the importance of market demand and aims to enhance its product development in high-end manufacturing and other application fields [3] - Zhongyan is focused on technological innovation and refined management to optimize its product structure in response to market changes [2] Research and Development Focus - The company is committed to increasing R&D investment, attracting high-end talent, and exploring new application areas for PEEK materials [3] - Zhongyan aims to break through technical barriers in emerging application fields and enhance its market introduction of PEEK materials across various industries [3] Investor Relations and Value Management - Zhongyan prioritizes value management as a long-term strategy, focusing on core business and increasing R&D investment to cultivate new productive capabilities [2] - The company is dedicated to improving corporate governance, ensuring timely and accurate information disclosure, and enhancing investor relations through active communication [2]