2 | | | 3 编号：2025-008 投资者关系活动 类别 ☑特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 ☑现场参观 □其他 （线上会议调研） 参与单位名称及 人员姓名 山西证券刘斌、贾国琛，宁波宝隽董一平 时间 2025 年 06 月 06 日 地点 公司会议室 上市公司接待人 员姓名 副总经理、董事会秘书邱蓉 证券办 李琼婷 投资者关系活动 主要内容介绍 一、公司情况介绍 二、公司情况交流 1、公司有 AEB 产品销售吗？ 答：AEB 属于 ADAS 系统的一个主动安全功能，公司没有单独 销售 AEB 产品，主要通过线控制动产品帮客户实现 AEB 功能。 公司线控制动产品于 2024 年开始量产，目前销售占比不大。 2、公司除了萧山本部这边，其他地方有生产基地吗？ 答：公司目前主要有萧山本部、安徽广德和湖州安吉三大生产 基地，公司在柳州、广州、长春等各地也有生产基地便于为整 车就近配套，同时公司的摩洛哥生产基地项目目前也正在有序 推进中。 3、公司毛利率提升的原因主要有哪些？ 1 | | 答：受益于国内汽车销量的增长及公司国际市场新项目的上 | | --- | - ...

9 Jun 2025 CMB International Global Markets | Equity Research | Company Update BYD (1211 HK/002594 CH) Key takeaways from AGM Maintain BUY. We attended BYD's annual general meeting (AGM) and management sharing session on 6 Jun 2025. We summarize some key takeaways as below. | (YE 31 Dec) | FY23A | FY24A | FY25E | FY26E | FY27E | | --- | --- | --- | --- | --- | --- | | Revenue (RMB mn) | 602,315 | 777,102 | 970,122 | 1,045,753 | 1,149,559 | | YoY growth (%) | 42.0 | 29.0 | 24.8 | 7.8 | 9.9 | | Net profit (RM ...

welcome to Beyond artificial J thank you it's great to be here Alex thank you very much nice to see you good to see you you look great so do you as always well thank you okay I have to tell you how infinia started this new product 2017 Nvidia said we want to stand up a reference architecture superod and we need the data part of it and we walked away from that meeting I said there there's got to be a different architecture for AI if Jensen's far-reaching Vision turns into reality over the next decade or so a ...

Key Takeaways LMT secures a $25M Army contract for engineering services on the Sentinel A4 Radar System. The Sentinel A4 enhances detection of cruise missiles, drones, aircraft and RAM threats. LMT's radar systems serve 45 nations and integrate with platforms like Aegis and NORAD.Lockheed Martin Corporation's (LMT) business segment, Rotary and Mission Systems, recently secured an order worth $25 million to provide engineering services for the Sentinel A4 Radar System. The award has been offered by the Arm ...

Core Viewpoint - Nurix Therapeutics is set to present new data from the ongoing Phase 1 clinical trial of bexobrutideg (NX-5948) at the European Hematology Association Congress, highlighting the company's focus on targeted protein degradation medicines for cancer treatment [1][5]. Company Overview - Nurix Therapeutics is a clinical-stage biopharmaceutical company specializing in the discovery, development, and commercialization of targeted protein degradation medicines aimed at improving treatment options for cancer and inflammatory diseases [5]. - The company's pipeline includes degraders of Bruton's tyrosine kinase (BTK) and inhibitors of Casitas B-lineage lymphoma proto-oncogene B (CBL-B), with a focus on innovative drug design [5]. - Nurix is advancing multiple potentially first-in-class or best-in-class degraders and degrader antibody conjugates (DACs) in its preclinical pipeline, supported by a fully AI-integrated discovery engine [5]. Clinical Trial Information - Bexobrutideg (NX-5948) is an investigational, orally bioavailable small molecule degrader of BTK, currently evaluated in a Phase 1 clinical trial for patients with relapsed or refractory B cell malignancies [4]. - The ongoing clinical trial can be accessed for additional information at clinicaltrials.gov (NCT05131022) [4]. Upcoming Presentations - The company will host a webcast conference call on June 12, 2025, to discuss the new data from the Phase 1 clinical trial, which will be presented at the EHA2025 [1][2]. - Presentations at EHA2025 include findings on the clinical activity and safety of bexobrutideg in patients with chronic lymphocytic leukemia (CLL) and Waldenström macroglobulinemia, scheduled for June 13 and June 14, respectively [6].

"这是我看到的第四个姜姒了，我现在满脑子都是姜姒。" "这个本子今天上了四版，观剧体验跟着男主颜值走，王道铁的军官造型帅，李沛洋奶狗型，陈凯洲腼腆型，这版刘俊达也不错，现在就等刘宇航版本 了。" "目前四个，第五个待播，以后肯定不止十个。" 正如上述评论所言，对于这种同一剧本（小说IP）被不同团队拍成多部短剧的现象，业界称之为"一本多拍"。 这种情况在短剧圈并不稀奇，甚至是一种常态化的操作模式。 当然，由不同制作团队改编同一故事，台词、拍摄角度通常高度相似，只是在部分细节和情感的呈现上会有所差异。 而这种微妙的差别，则会为观众带来多样化的观赏体验。 不过，"一本多拍"所带来的也不全是积极效应。 最明显的是内容同质化严重、缺乏创新，导致观众在连续观看多个版本后可能会产生审美疲劳。甚至部分观众开始质疑，这种"快餐式"的制作模式是否真 正尊重了原著，又是否真正满足了观众对于短剧内容的期待。 上百部短剧刷屏，只为讲同一个故事 "印象最深的一个情节，是男主正在家里和女主私会，男主妈找上门来现场抓包，敲门的时候说的台词竟然是'开门，警察临检'，结合男主妈是警察的人 物设定，就会觉得这个小设计真的很巧妙。" 入坑短剧大半年 ...

证券研究报告 | 2025年06月05日 禾赛科技（HSAI.O） 优于大市 一季度收入同比增长 46%，激光雷达新产品、新客户持续突破 2025Q1 公司实现营业收入 5.25 亿元，同比增长 46%。2025Q1，公司实 现收入为 5.25 亿元，同比增长 46.3%，环比减少 27.0%，净利润为-0.18 亿元（2024Q1 为-1.07 亿元，2024Q4 为 1.47 亿元），调整后净利润（即 加回股权激励费用后的净利润）为 860 万元（2024Q1 为-6910 万元， 2024Q4 为 1.7 亿元）。分业务来看，1）2025 Q1，公司产品收入为 5.1 亿元，同比增长 44.7%，环比减少 27.2%，同比增长主要由于中国需求 旺盛导致 ADAS 激光雷达产品销售收入增加；2）2025Q1，公司服务收 入为 1460 万元，同比增长 139.3%，环比减少 19.8%，同比增长主要系 非经常性工程服务收入的增加所致。 2025Q1，公司毛利率同环比双升，费用率下降。2025Q1，禾赛科技的毛 利率/净利率分别为 41.7%/-3.3%，分别同比变动+3.0/+26.4pct，分别 环比变 ...

Company Overview - Terranet AB focuses on developing innovative technical solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV) aimed at enhancing urban traffic safety [7] - The company is headquartered in Lund, Sweden, with additional offices in Gothenburg and Stuttgart, and has been listed on Nasdaq First North Premier Growth Market since 2017 [8] Rights Issue Details - The Rights Issue involves a maximum of 13,880,714 units, with each unit consisting of twelve B-shares and three warrants of series TO9 B, issued free of charge [9] - The subscription price is set at SEK 1.08 per unit, equating to SEK 0.09 per B-share, and is expected to raise approximately SEK 15 million before costs [9] - Shareholders will have preferential rights to subscribe, with one existing share granting one unit right, and eighty-six unit rights needed to subscribe for one unit [9] - The subscription period runs from May 27, 2025, to June 11, 2025, with trading in unit rights occurring from May 27, 2025, to June 5, 2025 [4][9] Financial Commitments - The Rights Issue is fully covered by subscription commitments of approximately SEK 35.2 thousand (0.2% of the Rights Issue) and underwriting commitments of about SEK 15 million (99.8% of the Rights Issue), totaling 100% coverage [9]

Summary of Monte Rosa Therapeutics Conference Call Company Overview - **Company**: Monte Rosa Therapeutics - **Focus**: Development of molecular glue degraders for protein degradation, with applications in oncology and autoimmune diseases [3][4] Pipeline and Programs - **Molecular Glue Degrader Platform**: Utilizes small molecules that bind to ubiquitin ligase, allowing for targeted protein degradation [3][4] - **Key Programs**: - **Oncology**: - GSPT1 degrader (MRT2359) targeting castration-resistant prostate cancer (mCRPC) [5][10] - CDK2 and cyclin E1 degraders [39] - **Autoimmunity**: - VAP1 targeting strategy in collaboration with Novartis, focusing on Th17-driven autoimmune diseases [21][24] - NEXT-seven targeting NLRP3 inflammasome [32][34] Strategic Considerations - **Therapeutic Areas**: The company operates across multiple disease areas, including oncology, autoimmune diseases, cardiovascular indications, and metabolism [7][8] - **Focus on Undruggable Targets**: Emphasis on high unmet need indications where traditional therapies may not be effective [8] Clinical Development Highlights - **MRT2359**: - Selected for mCRPC due to its efficacy in preclinical models and high expression of cMYC in this cancer type [11][12] - Safety profile shows mostly grade 1 and 2 adverse events, with plans to evaluate in combination with enzalutamide [13][14] - **VAP1 Program**: - Phase I data shows 90-95% degradation levels with no safety concerns, supported by a $150 million upfront payment from Novartis [24][25] - Potential indications include inflammatory bowel disease (IBD) and rheumatoid arthritis [29][30] - **NEXT-seven**: - IND clearance expected soon, with a focus on peripheral inflammatory diseases [36][38] Future Outlook and Catalysts - **Cash Runway**: Guidance indicates a cash runway into 2028, allowing for multiple inflection points [44] - **Upcoming Updates**: - Clinical development plan for VAP1 and updates on MRT2359 in prostate cancer expected in the near term [45] - Further data on NEXT-seven anticipated following IND clearance [36][45] Key Takeaways - Monte Rosa Therapeutics is positioned to leverage its innovative molecular glue degrader platform across various therapeutic areas, with a strong focus on oncology and autoimmune diseases. - The collaboration with Novartis enhances the company's ability to explore its VAP1 program more aggressively. - The company is on track for significant clinical updates in the coming months, which could provide valuable insights into the efficacy and safety of its leading candidates.

Core Insights - RTX Corporation's Raytheon segment secured a $536 million contract from the U.S. Navy to upgrade Flight IIA warships with SPY-6(v)4 radar, expected to be completed by May 2026 [1][9] - The SPY-6 radar family offers enhanced capabilities, including protection against multiple threats with greater detection range and sensitivity, and is set to be installed on over 60 U.S. Navy ships in the next decade [4][9] Industry Demand - Rising geopolitical tensions and increased defense budgets globally are driving demand for advanced military radars, with a projected CAGR of 5.2% for the military radar market from 2025 to 2030 [5] - RTX's extensive expertise in radar technology positions it well to capitalize on this growing demand across various applications, including air defense and maritime surveillance [3][5] Product Portfolio - RTX's radar product portfolio includes systems like AN/TPY-2, AN/APG-79, and APG-82(V)1, which are in solid demand within the global military radar market [6] - The SPY-6 radar family is particularly notable for its ability to defend against ballistic and cruise missiles, hostile aircraft, and surface ships simultaneously [4] Competitive Landscape - Other defense contractors, such as Lockheed Martin and Northrop Grumman, are also positioned to benefit from the expanding military radar market, with Lockheed Martin having a long-term earnings growth rate of 10.5% and Northrop Grumman at 3.3% [7][10] - L3Harris Technologies has a diverse radar product portfolio and a long-term earnings growth rate of 12% [10][11] Stock Performance - Over the past year, RTX shares have increased by 26.8%, outperforming the industry growth of 19.9% [12]