证券代码：002120 证券简称：韵达股份 韵达控股集团股份有限公司投资者关系活动记录表 编号：2025-002 3、公司于 2025 年 5 月 7 日发布了关于控股股东增持公司股 份计划的公告，请问目前进度如何？ 您好，感谢您的关注！上市公司已于 2025 年 5 月 7 日发布了 相关增持公司股份计划的公告，我们对公司未来的持续稳定发展充 满信心，并坚定认可其价值，上海罗颉思投资管理有限公司计划通 过深圳证券交易所交易系统以集中竞价、大宗交易等方式增持公司 股份，计划增持金额为人民币 10,000-20,000 万元。目前我们正在 积极推进中，上海罗颉思将本着"依法合规"的原则，根据工作计划， 结合市场情况，有序实施增持操作。同时，我们将持续做好相关信 息披露工作。 4、公司会下修可转债的转股价格吗？ 您好！感谢您的提问！关于可转债转股价格，公司将结合快递 行业发展态势及公司价值反映情况，审慎判断、合理判断，具体请 关注公司后续公告。 5、韵达在减少碳排放方面有哪些动作？ 您好，感谢您的提问！公司深入贯彻落实关于绿色环保工作要 求与部署，致力于提升可持续发展能力，切实履行环境保护责任， 积极响应生态文明 ...

转自：前瞻产业研究院 行业主要上市公司：海螺水泥(600585.SH);华新水泥(600801.SH);金隅集团(601992.SH);冀东水泥(000401.SZ); 塔牌集团(002233.SZ)等 本文核心数据：水泥行业代表性企业融资事件;兼并重组规模 1、国内水泥行业投融资时间较少，但都发生在近四年 2021年以来，中国水泥制造行业投融资事件近三起，数量较少，汇总如下： (1)磷隆新材融资 湖北磷隆新材料科技有限公司是一家磷石膏产品加工商，致力于磷石膏技术研发、技术咨询、磷石膏产品加 工及销售，以及水泥商品硂、沥青硂等产品加工。2021年9月昌耀新材发布公告称，公司拟对参股公司湖北 磷隆新材料科技有限公司增资。 磷石膏广泛应用于水泥制造和环保等多个行业，在绿色建筑材料和环保材料中具有巨大的潜力。随着国内环 保政策日益严格，水泥行业面临着较大的资源短缺和环境压力，推动了绿色水泥的创新和替代材料的开发。 磷隆新材将磷石膏废料转化为水泥原料的一体化技术，不仅符合国家绿色发展的战略方向，还帮助水泥行业 降低了对天然矿石的依赖，提升了资源的综合利用率。预计随着技术的不断发展和市场对绿色环保产品的需 求提升，磷石 ...

5月12日晚间，艾可蓝（300816）公告，公司于近日收到控股股东、实际控制人刘屹的通知，获悉其与 广东南传私募基金管理有限公司(代表"南传烽火3号私募证券投资基金")(以下简称"南传私募")就终止协 议转让公司部分股份事宜达成一致意见，并签署了《股份转让终止协议》。 回溯前情，去年12月12日，刘屹与南传私募签署了《刘屹与广东南传私募基金管理有限公司(代表"南传 烽火3号私募证券投资基金")之股份转让协议》，并于12月20日签署了《股份转让协议之补充协议》， 刘屹拟通过协议转让的方式将其持有的公司400万股无限售流通股(占公司总股本的5.00%，占剔除回购 专用证券账户中股份数量后公司总股本的5.08%)转让给南传私募。 最新公告显示，目前，刘屹与南传私募尚未办理完成相关股份转让手续，因客观条件变化，双方在自愿 平等的基础上友好协商，决定终止本次股份协议转让事项，双方互不承担违约责任。刘屹与南传私募签 署了《股份转让终止协议》。 截至目前，刘屹持有艾可蓝3110.86万股股份，占公司总股本的38.89%(占剔除回购专用证券账户中股份 数量后公司总股本的39.51%)。艾可蓝表示，本次协议转让终止不会导致公司 ...

Industry Overview - The insulation products industry in China has developed rapidly since the 1990s, establishing a comprehensive industrial system and becoming the largest insulation products market globally. The market size is projected to reach approximately 77.5 billion yuan in 2024, with a year-on-year growth of 2.79% [1][14]. - The industry has matured technologically, with leading companies capable of developing high-end insulation products, gaining competitive advantages in international markets [1][14]. Market Dynamics - The insulation products are essential components in electrical equipment and electronic devices, serving various functions such as mechanical support, heat dissipation, and moisture protection [3]. - The industry benefits from the rapid development of sectors like renewable energy, efficient energy-saving motors, and rail transportation, contributing to a relatively prosperous market environment [5]. Policy Environment - Recent policies have been introduced to support the insulation products industry, including the "Implementation Plan for Accelerating the Breakthrough of 'Six New' Manufacturing in Henan Province" and the "Implementation Plan for the Innovation and Development of the Fine Chemical Industry (2024-2027)" [5][7]. Industry Chain - The upstream of the insulation products industry includes raw materials such as phenol, formaldehyde, and epoxy resin, which are essential for production. The industry is moving towards high-quality and environmentally friendly production due to supply-side structural reforms [8][10]. - The downstream applications include generator manufacturing, power transmission, new energy vehicles, and electronic communications, with increasing demand driven by the national "dual carbon" goals [8][11]. Key Companies - Notable companies in the insulation products sector include Dongcai Technology, Huazheng New Materials, and Shunma Electric, among others. These companies are focusing on innovation and expanding their market presence [16][19][21]. - Dongcai Technology reported a revenue of 32.45 million yuan in the first quarter of 2024, while Huazheng New Materials achieved 28.24 million yuan in the same period [18]. Development Trends - The industry is expected to focus on technological innovation, particularly in high-performance and environmentally friendly insulation materials. Innovations such as nano-modification and composite insulation technologies are anticipated to gain traction [23][24]. - The shift towards green and sustainable practices is becoming a priority, with increasing demand for halogen-free and biodegradable insulation materials [24][25]. Conclusion - The insulation products industry in China is poised for growth, driven by technological advancements, supportive policies, and expanding applications across various sectors. The competitive landscape is evolving, with both international giants and domestic players striving for market share through innovation and quality improvements [16][23].

散装物料搬运机械是一个工程领域，主要设计用于处理散装物料的设备，并实现关键工艺资产的安全转移、搬运和存储。先进的散装物 料搬运系统具有集成的散装存储（筒仓）、输送（机械或气动）和卸料功能。 全球散装物料搬运设备市场规模总体分析 根据 QYResearch （恒州博智）的统计及预测， 2024 年全球散装物料搬运设备市场销售额达到了 152.96 亿美元，预计 2031 年将达到 219.66 亿美元，年复合增长率（ CAGR ）为 5.29% （ 2025-2031 ）。 地区层面来看，中国市场在过去几年变化较快， 2024 年市场规模为 32.98 亿美元，约占全球的 21.56% ，预计 2031 年将达到 54.38 亿美 元，届时全球占比将达到 24.76% 。 地区层面来说，目前北美地区是全球最大的市场， 2024 年占有 25.57% 的市场份额。预计未来几年，中国地区增长最快， 2025-2031 期 间 CAGR 大约为 7.59% 。 从产品类型方面来看，堆垛和装载设备占有重要地位，预计 2031 年份额将达到 73.83% 。同时就应用来看，采矿工业在 2024 年份额大 约是 28.85 ...

Group 1: Core Competencies - The company's core competencies include technological advantages in automated and intelligent production processes [1] - Quality control systems and multiple certifications contribute to product quality superiority [1] - Rapid response and comprehensive service capabilities enhance customer satisfaction [1] - Strong brand recognition and established partnerships with well-known enterprises provide a competitive edge [1] - Cost control measures across production and management processes expand profit margins [1] Group 2: Business Overview - The company focuses on advanced manufacturing applications, intelligent manufacturing, and packaging design and production [1][2] - Transitioning from providing basic packaging to offering a diverse range of consumer-oriented packaging products [1][2] - The customer base spans various sectors, including fast-moving consumer goods, electronics, and high-end food products [2] Group 3: Financial Performance - The company reported revenue of ¥815,839,279.18, a 14.46% increase year-on-year [4] - Net profit attributable to shareholders was -¥3,780,908.83, up 46.55% from the previous year [4] - The net profit excluding non-recurring items was -¥7,890,471.39, reflecting an 18.23% increase year-on-year [4] - Factors affecting net profit include depreciation from new projects and impairment testing on goodwill [4] Group 4: Industry Trends - The printing and packaging industry is experiencing a shift towards digital printing and automation [5] - Green technology is becoming mainstream due to stricter environmental regulations [5][6] - The policy environment encourages innovation and supports small and medium enterprises through subsidies and tax incentives [6] Group 5: Challenges and Opportunities - The company faces challenges in technology acquisition, supply chain management, and market channel integration during its transition [7][8] - Strategies to explore new growth opportunities include market research, collaboration with academic institutions, and participation in industry events [8] - The rise of personalized packaging and e-commerce presents new market demands [8] Group 6: Future Strategies - The company plans to enhance its information technology infrastructure to improve operational efficiency [8] - Research and development efforts will focus on new materials and efficient production processes to stabilize profit margins amid rising costs [9] - Differentiation strategies will involve developing high-end packaging products and improving existing offerings based on market feedback [9]

Industry Overview - The automotive parts industry includes all components and parts excluding the vehicle chassis, with parts being indivisible components and assemblies being combinations of parts [1] - The industry has evolved from imitation production to technological research and transformation, with significant improvements in production processes and product quality over the years [8][10] Industry Chain Analysis - The automotive parts manufacturing industry involves various upstream and downstream sectors, including raw material suppliers and vehicle manufacturers [4] - Key upstream suppliers include steel, non-ferrous metals, and electronic components, while downstream includes vehicle manufacturers and repair shops [6] Market Demand and Supply - China's automotive ownership is projected to reach 353 million vehicles by 2024, reflecting a growth of 5.06% [17] - The automotive parts market in China is expected to exceed 4.5 trillion yuan in 2023, with a forecast of 5 trillion yuan in 2024 [20][23] Competitive Landscape - The competitive landscape is fragmented, with leading companies like CATL, Huayu Automotive, and Weichai Power showing strong market positions [24][26] - CATL holds approximately 6% market share in the automotive parts sector, while Huayu Automotive and Weichai Power each exceed 2% [29] Development Trends and Future Outlook - The industry is expected to focus on high technology, green environmental practices, and intelligent development, particularly in electric vehicles and automated driving technologies [31] - The automotive parts industry is projected to maintain steady growth, with an estimated compound annual growth rate of about 7% from 2025 to 2030, potentially exceeding 7.5 trillion yuan by 2030 [33]

Core Viewpoint - The mining electric locomotive industry is experiencing significant growth driven by increasing demand for mining resources and the need for improved production efficiency and safety in mining operations [1][14]. Industry Overview - Mining electric locomotives are essential equipment for underground transportation, responsible for long-distance transport of coal, waste rock, materials, equipment, and personnel [2]. - The industry is characterized by various classifications based on working environment, track gauge, power source, and supply method [4]. Industry Chain - The upstream of the mining electric locomotive industry includes electrical equipment, mechanical components, and braking systems, while the downstream applications are primarily in mining and underground engineering [6]. Market Growth - The revenue from mining electric locomotives in China is projected to grow from 7.905 billion yuan in 2021 to 9.93 billion yuan in 2024 [1][14]. - The overall revenue of the mining engineering sector in China reached 6.27 billion yuan in 2023, reflecting a year-on-year increase of 4.57% [8]. Competitive Landscape - The industry features a diverse and competitive landscape with participation from state-owned enterprises, private companies, and foreign firms [16]. - Key players include Hunan Yuqian Electric Equipment Co., Ltd., Zhejiang Sankun Electric Co., Ltd., and Xiangdian Heavy Equipment Co., Ltd., among others [16][18]. Development Trends - The demand for mining electric locomotives is expected to rise due to environmental considerations, as they offer higher energy efficiency and lower emissions compared to traditional fuel-driven equipment [22]. - The industry is moving towards increased automation and smart technologies, incorporating IoT, big data, and AI for enhanced operational efficiency and safety [23]. - There is a growing need for customized services to meet the specific requirements of different mining operations, which will become a key trend in the industry [24][25].

Investment Rating - The report maintains a "Buy" rating for both A-shares and H-shares of China Railway Construction Corporation (601186.SH/1186.HK) with current prices at 7.81 CNY and 4.94 HKD respectively [1]. Core Views - The company experienced operational pressure in 2024, with a year-on-year decline in revenue and net profit. However, cash flow showed improvement in Q1 2025 [5][6]. - The company has a sufficient backlog of contracts, with a continuous optimization of contract structure, particularly in green and emerging industries [7]. - Despite the challenges, the company is expected to maintain a stable dividend policy, proposing a dividend of 3 CNY per 10 shares, reflecting an 18.34% payout ratio [8]. Summary by Sections Financial Performance - In 2024, the company reported revenues of 1,067.17 billion CNY, a decrease of 6.2% year-on-year, with a net profit of 22.22 billion CNY, down 14.9% [5]. - For Q1 2025, revenues were 256.76 billion CNY, a decline of 6.6% year-on-year, with net profit at 5.15 billion CNY, down 14.5% [5]. Revenue Breakdown - The revenue from various segments in 2024 showed declines: Engineering Contracting (-5.7%), Planning and Design Consulting (-3.9%), Industrial Manufacturing (-2.5%), Real Estate Development (-13.7%), and Material Logistics (-9.4%) [6]. - The company’s domestic and overseas revenue in 2024 was 1,001.27 billion CNY and 65.90 billion CNY respectively, with a year-on-year change of -7.1% and +9.3% [6]. Contracting and Orders - New contracts signed in 2024 totaled 30,369.7 billion CNY, a decrease of 7.8% year-on-year, with overseas contracts growing by 23.4% [7]. - In Q1 2025, new contracts amounted to 4,928.5 billion CNY, down 10.5% year-on-year, but with significant growth in green and real estate projects [7]. Cash Flow and Expenses - The company faced significant cash outflows in 2024, with a net cash outflow of 31.42 billion CNY, but showed improvement in Q1 2025 with a net inflow of 3.95 billion CNY [8]. - The financial expense ratio increased due to foreign exchange losses, impacting net profit margins [8]. Profit Forecast and Valuation - The profit forecast for 2025 and 2026 has been adjusted to 22.33 billion CNY and 22.88 billion CNY respectively, reflecting a downward revision of 4% and 3% [8]. - The report maintains a "Buy" rating based on the company's strong contract backlog and ongoing structural improvements [8].

Core Viewpoint - The article highlights the growing importance and potential of the battery recycling industry in China, driven by the increasing number of electric vehicles and the need for sustainable practices in resource utilization [1][3]. Group 1: Industry Overview - As of the end of 2024, the number of new energy vehicles in China is expected to reach 31.4 million, accounting for 8.90% of the total vehicle population [2]. - In the first quarter of this year, the production and sales of new energy vehicles in China reached 3.182 million and 3.075 million units, respectively, maintaining the world's leading position in this sector [2]. - The introduction of vehicle replacement policies has stimulated consumer interest in upgrading to new energy vehicles, thereby expanding the market for battery recycling and dismantling [2]. Group 2: Technological Advancements - The company employs intelligent disassembly techniques to assess the value of retired batteries, allowing for the recovery of valuable materials such as lithium carbonate from recycled black powder [2][3]. - Recent innovations in disassembly tools have increased efficiency, allowing the company to dismantle 3.5 battery packs per hour, a 75% improvement over previous capabilities [4]. - The publication of the "Comprehensive Utilization Industry Norms for Waste Power Batteries (2024 Edition)" and the establishment of new companies in the sector are creating a favorable environment for industry growth [4]. Group 3: Workforce Development - The role of battery disassembly workers is gaining recognition as part of the sustainable development movement, with an emphasis on continuous learning and skill enhancement [3][4]. - Workers are encouraged to acquire knowledge in automated disassembly and intelligent equipment maintenance to improve operational efficiency [4].