创元科技分析师会议-20251105

Group 1: General Information - The research was conducted on November 5, 2025, with the research object being Chuangyuan Technology in the environmental protection industry [1][16] - The listed company's reception staff included independent director Yuan Bin, board secretary and deputy general manager Zhou Weiwei, securities affairs representative Lu Shuhao, and Suzhou Electric Porcelain's board secretary and financial controller Ma Xiangfeng [16] Group 2: Participating Institutions - Participating institutions included Shanghai Guanhuo Investment Research, Puzhuo Capital, Dongya Asset Management, Qiuyang Investment, Dongwu Securities, Tianhong Fund, and Tianzhi Fund [2][17] Group 3: Core Views Reasons for Slight Decline in Revenue but Growth in Net Profit in Q3 2025 - Suzhou Electric Porcelain deepened intelligent manufacturing and digital transformation, adjusted production layout, and improved production efficiency and product quality, completing the delivery and acceptance of products for multiple key UHV lines of the State Grid [23] - Suzhou Bearing advanced technological innovation, upgraded product structure, increased sales of high - value - added products, expanded overseas markets, and improved product gross profit margin through budget management and cost - reduction measures [23] Impact of Yajiang Hydropower and China Nuclear Power Development on Suzhou Electric Porcelain - Suzhou Electric Porcelain is a key enterprise in the electric porcelain industry, with high - grade insulators having high technical barriers. It participated in the large - scale supply of porcelain insulators for UHV construction and the "Belt and Road" power transmission line construction. The company will monitor industry trends and promote high - quality development [24][25] Future Industrial Direction of Jiangsu Sujing - Jiangsu Sujing is expanding into the electronic information, large - health, and new energy industries, focusing on high - end industries and customers. It is forming a "integrated marketing" model and targeting key industries such as electronics, medicine, solar PV, lithium - battery new energy, and new infrastructure [25] Merger and Acquisition Plan - The company is seeking investment targets in line with its development strategy and will disclose relevant information as required by laws and regulations [25] Market Value Management Measures - The company will focus on its main business, increase R & D and innovation, optimize product matrix, and enhance market competitiveness. It will also communicate with investors through various channels, improve operation quality, and enhance investment value and shareholder returns [27]