证券代码：000703 证券简称：恒逸石化 恒逸石化股份有限公司投资者关系活动记录表 编号：20251124 | | 特定对象调研 分析师会议 | | --- | --- | | 投资者关系 | 媒体采访 业绩说明会 | | 活动类别 | 新闻发布会 路演活动 | | | 现场参观 | | | 其他 （请文字说明其他活动内容） | | 参与单位名称 | 中金公司、招商基金、银华基金、嘉实基金、久期投资、顶 | | 及人员姓名 | 石资本、旭松资产、厦门象屿创投、中证指数等（以上排名 | | | 不分先后） | | 时间 | 年 月 2025 11 24 日，13：30—14：30 | | 地点 | 公司会议室 | | 上 市 公 司 接 待 | 证券事务代表：赵冠双 | | 人员姓名 | 投资者关系：王诗云 | | | 一、公司基本经营概况 | | | 恒逸石化（股票代码：000703.SZ）作为全球领先的"炼 | | | 油—化工—化纤"全产业链一体化龙头企业，始终秉持"一 | | | 滴油，两根丝"的战略定位，通过文莱炼化项目的前瞻性布 | | | 局，成功打通从原油加工到化纤产品的全产业 ...

Core Insights - The company is transforming into a smart low-carbon mining operation through the implementation of nine intelligent sectors and the utilization of clean energy [2][3] Group 1: Intelligent Mining Operations - The production scheduling command center integrates real-time geological data, operational status, equipment diagnostics, and safety alerts into a single display, enhancing decision-making capabilities [3][4] - The company has reduced high-risk personnel by over 80% and decreased downtime by 40%, while increasing effective operating time to over 90% through the use of 5G technology and AI algorithms [4][5] - The intelligent comprehensive control platform acts as the "smart brain" of the mine, enabling real-time data analysis and risk pre-warning [5][6] Group 2: Clean Energy Utilization - The company has developed a low-concentration gas power generation project with a total installed capacity of 20 MW, efficiently utilizing approximately 100 cubic meters of pure gas per minute [7] - The project has generated 4,776,000 kWh of electricity and brought economic benefits of 4.19 million yuan by October 2025 [7] - The company has also installed a solar power system on the rooftops of its facilities, with an expected annual output of over 3.65 million kWh, reducing carbon emissions by over 1,300 tons [8] Group 3: Intelligent Coal Preparation - The coal preparation plant has a current capacity of 5 million tons per year, with plans for an additional 5 million tons, utilizing intelligent systems for precise coal blending [9] - The intelligent blending system allows for real-time adjustments based on customer needs, maximizing revenue and providing standardized product options [9][10] - The company is focused on enhancing the quality and efficiency of its coal products through a comprehensive quality monitoring system from production to sales [10]

黔矿协函〔2025〕18号 贵州省矿业协会关于邀请参加中国(贵州) 国际矿业大会暨矿业装备展览会的函 各会员单位及相关企业: 为深入学习贯彻习近平新时代中国特色社会主义思想,全 面落实党中央、国务院关于推进矿产资源的战略决策部署,加 速科技创新与产业创新深度融合,助力贵州乃至全国矿业高质 量发展,经协会研究,定于2026年4月16 - 18日在贵阳国际会 议展览中心举办"中国(贵州)国际矿业大会暨矿业装备展览 会"(以下简称"大会"）。 贵州是我国矿产资源大省,煤炭、磷矿、铝土矿、锰矿、 稀土等战略资源储量丰富。近年来,我省坚定推进新型工业化 进程,大力推动矿业向绿色化、智能化、高端化转型,成效显 著。 本次大会以"富矿富能·精开未来"为主题,既是落实国家 资源安全战略、服务找矿突破战略行动的具体实践,也是引导 矿产资源合理勘查开采、助力增储上产、推动矿业绿色转型的 重要举措。 大会将聚焦矿业全产业链发展需求,打造集产品展示、技 ly 上一篇 - 1 - 2026中国（贵州）国际矿业大会暨矿业装备展览会 大会主题： 富矿富能 • 精开未来 大会时间：2026年4月16-18日 大会地点：贵州省·贵阳国际会议展 ...

Core Viewpoint - The "Henan Province Steel Industry Quality Improvement and Upgrading Action Plan" aims to enhance the efficiency, innovation, and environmental performance of the steel industry by 2027, focusing on resource integration, technological upgrades, and the establishment of a modern steel industry system [1][3][4]. Group 1: Overall Requirements - The plan targets the construction of a modern steel industry system with high-end, intelligent, and green development, aiming to eliminate inefficient production capacity and enhance profitability and innovation by 2027 [4][5]. - By the end of 2025, all production capacity below the energy efficiency benchmark will undergo technological upgrades or be eliminated, with a goal of achieving ultra-low emissions [4][5]. Group 2: Key Tasks - **Optimize Industrial Layout**: The plan emphasizes controlling total steel production capacity and guiding it towards regions with strong resource and market advantages, while promoting integrated layouts among steel, coking, and sintering industries [5][6]. - **Accelerate Enterprise Restructuring**: Support for advantageous enterprises to integrate steel resources through various methods, including capital increases and mixed ownership reforms, is encouraged [5][6]. - **Strengthen Industrial Regulation**: The plan includes a graded evaluation of enterprises to promote breakthroughs in safety, energy conservation, and environmental protection [6][7]. Group 3: Product Structure Upgrade - **Enhance Technological Innovation**: The plan aims to strengthen the research and development capabilities of major innovation platforms and promote the development of high-end steel products [8][9]. - **Develop a Distinctive Product System**: It focuses on adjusting product structures to enhance market supply and build a competitive product system, particularly in high-end steel products [9][10]. Group 4: Green and Intelligent Transformation - **Promote Equipment Upgrades**: The plan supports the upgrade of compliant production equipment and encourages the implementation of capacity replacement projects [10][11]. - **Enhance Green and Low-Carbon Levels**: New and expanded steel projects must meet energy efficiency and environmental performance standards, with a shift towards electric arc furnace short-process steelmaking [10][11]. Group 5: Policy Support and Industry Ecosystem - **Strengthen Policy Support**: The plan emphasizes the role of financial institutions in supporting the steel industry's transformation and development through various financing methods [12][13]. - **Encourage Industry Self-Regulation**: The steel industry association is tasked with guiding enterprises to adhere to national policies and avoid disorderly competition [12][13].

Group 1 - The Hangzhou Urban Area Central Ring Project has successfully completed the first T-beam installation, marking a significant breakthrough in the project's key control node and entering a new phase of upper structure construction [1] - The project, designed as a dual six-lane first-class highway with a mainline speed of 80 km/h, will enhance the national road network layout and serve as a crucial north-south passage between Yuhang and Fuyang, significantly reducing travel time to the Future Technology City [1] - The project features the province's first smart beam yard, which has been put into operation, providing strong support for construction and accumulating valuable experience for similar intelligent projects in Hangzhou [1] Group 2 - The Jianwu Tunnel of the road reconstruction project from Zhujiabu to Meiping in Jiande City has completed its construction, ensuring timely completion and operation of the road [2] - The project, with a total length of 2.67 kilometers and a tunnel length of 2.2 kilometers, is designed to a third-class highway standard with a speed of 40 km/h, expected to open in May next year [2] - Upon completion, the road will enhance the freight transport corridor for Nongfu Spring, improve regional road network structure, and support the "Beautiful Highway" initiative and Jiande City's 14th Five-Year Comprehensive Transportation Plan [2]

Core Insights - Beijing Liangma River Tower recently celebrated its 35th anniversary, located in the core area of Beijing's CBD Yansha business district, adjacent to the embassy area, with comprehensive transportation and international resources [1] - The tower has a total construction area of approximately 130,000 square meters, featuring a four-star hotel, serviced apartments, Grade A smart office buildings, and a large conference center [1] - The tower is actively promoting smart construction and refined operations, focusing on space content creation and carefully planning community activities [1] Market Opportunities - The cultural tourism market has been heating up, and the tower capitalized on this by launching a themed cultural and entertainment event during the "May Day" holiday, which integrated dining, shopping, and entertainment, attracting a diverse range of guests [1] - During the event, the average hotel room occupancy rate increased by nearly 20% compared to the same period last year [1] Future Strategies - In 2025, the tower will focus on "operational efficiency, asset enhancement, project effectiveness, and strong management" as its main operational line, implementing a series of effective strategies to continuously optimize the company's brand image [2] - The tower aims to develop a dual-channel sales system combining traditional travel agency channels and digital social media to enhance customer experience while optimizing the customer base [2] - The tower plans to capture annual meeting opportunities and provide diversified services to effectively increase overall revenue, having already exceeded budgeted income and profit targets in the first half of the year [2] - Future plans include enhancing the functions of the cultural promotion center to serve as a bridge connecting the past and future, businesses and customers, hotels and society, laying a solid foundation for enhancing soft power and achieving sustainable development [2]

Core Insights - The article highlights the transformation and development of Xiangning County, a revolutionary area in Shanxi Province, showcasing its economic growth and diversification into tourism and modern agriculture [2][3]. Economic Growth - Xiangning County is projected to achieve a GDP growth of 12.7% in 2024, surpassing national, provincial, and municipal averages, indicating a strong economic performance [3]. - The county's coal industry remains significant, with a coalfield area of approximately 1,600 square kilometers and proven reserves of 15.3 billion tons, contributing to its status as a major coal production base [10][12]. Tourism Development - The tourism sector in Xiangning is rapidly growing, with A-level scenic spots receiving 1.93 million visitors in 2024, a year-on-year increase of 13.74%, and ticket revenue reaching 40.81 million yuan, up 13.12% [5]. - The county has established a brand around its tourism offerings, including "Dameiyunqiu" and "Rongzi Dry Red Wine," attracting visitors for scenic beauty, local flavors, and cultural experiences [4][5]. Agricultural Advancements - Modern agriculture is being promoted, with significant developments in grape and apple cultivation, contributing to local economic benefits and community income [13][15]. - The county is also focusing on innovative agricultural practices, such as the "yellow mealworm-chicken-fruit orchard" circular economy model, enhancing local farmers' income and promoting sustainable practices [18]. Smart Mining Initiatives - Xiangning is advancing the smart transformation of its coal mines, with 19 intelligent mining faces established by the end of 2024, improving efficiency and safety in coal production [10][12]. - The implementation of smart technologies has led to increased productivity, with per capita efficiency rising from 60 tons to 100 tons per person [12]. Cultural and Creative Industries - The county is developing a Zisha pottery town, leveraging its rich history in pottery production, which has attracted multiple enterprises and created job opportunities for local residents [9]. - Various cultural and recreational events are being organized, enhancing the county's appeal as a tourist destination and promoting local culture [9].

Group 1 - The company has developed an intelligent unmanned workshop that utilizes smart control systems for real-time production scheduling and monitoring, transitioning from "man-machine production" to "intelligent production" [2] - The company has been continuously investing in research and development for technological innovation and digitalization, achieving L7 level certification for digital development from the Jiangxi Provincial Department of Industry and Information Technology, recognized as a "smart factory" [2]

Summary of Yunda Express Co., Ltd. Conference Call Company Overview - **Company**: Yunda Express Co., Ltd. - **Period**: First half of 2025 Key Financial Metrics - **Revenue**: 24.486 billion yuan, up 7.93% year-on-year [2] - **Net Profit**: 530 million yuan, with a non-GAAP net profit of 453 million yuan [2] - **Express Business Volume**: 12.726 billion parcels, up 16.5% year-on-year [2] - **Debt Ratio**: 46.7%, down nearly 1% from the beginning of the year [2] - **Operating Cash Flow**: Decreased year-on-year, primarily due to capital expenditures for land acquisition in Hangzhou [2][13] Revenue and Cost Analysis - **Single Parcel Revenue**: 1.92 yuan, down 7.35% year-on-year due to decreased parcel weight, market competition, and changes in product structure [4] - **Single Parcel Operating Cost**: 1.8 yuan, down 3.46% year-on-year, with transportation costs down nearly 21% [4] - **Core Operating Cost**: 0.59 yuan, down 15.62% year-on-year [4] Operational Efficiency and Cost Control - **Cost Control**: Total expenses decreased by approximately 750 million yuan, with a reduction of over 7% [7] - **Network Optimization**: Enhanced operational efficiency through network layout optimization, end construction, and service capability improvements [6][9] - **Automation Initiatives**: Investment in automation and technology to improve operational efficiency and reduce costs [9][20] Market Environment and Competitive Landscape - **Market Competition**: Intense competition with aggressive pricing strategies from some market participants [5] - **Regulatory Environment**: National policies aimed at regulating competition and promoting rational pricing in the express delivery market [10][11] - **Price Recovery**: Since August 2025, parcel prices in core production areas have shown signs of recovery, supported by regulatory measures [11][12] Future Strategies - **Focus on Quality and Efficiency**: Shift from scale-oriented growth to a balanced approach emphasizing quality and efficiency [19] - **Investment in Technology**: Continued investment in AI and digitalization to enhance service capabilities and operational efficiency [14][16] - **Network Development**: Strengthening the network foundation and enhancing service quality through digital tools and automation [20][21] Innovations and Technology - **AI and Automation**: Development of AI-driven logistics models and deployment of approximately 1,000 autonomous delivery vehicles to improve last-mile delivery efficiency [16][17] - **Digital Transformation**: Implementation of a multi-layered technology strategy to integrate logistics, information flow, and management processes [14] Conclusion - **Outlook**: The company remains optimistic about the second half of 2025, focusing on sustainable growth, operational efficiency, and quality service delivery while navigating a competitive landscape [19][22]

Group 1 - The core viewpoint of the article emphasizes the need for companies in the refining industry to adapt to changing market demands by transitioning from fuel-based operations to chemical production [3][4]. - The company is investing heavily in upgrading existing refining facilities to improve processing efficiency and reduce reliance on traditional fuel markets, aiming for sustainable development [3][4]. - The introduction of advanced technologies and equipment is a key strategy for the company to lower costs and enhance operational efficiency, including significant investments in energy-saving upgrades [4]. Group 2 - The company is accelerating its smart manufacturing initiatives, aiming to enhance production efficiency by 30% and reduce labor costs by 20% over the next two years through the use of IoT and automation technologies [5]. - Real-time monitoring and data integration across production, sales, and procurement are being implemented to improve decision-making and operational effectiveness [5].