（文章来源：证券日报） 证券日报网讯 12月4日，北方华创在互动平台回答投资者提问时表示，公司高度重视投资者沟通工作， 提供多种方式的交流渠道，后续将持续优化沟通回复效率，进一步提升投资者服务质量。 ...

证券日报网讯12月4日，中国电建（601669）在互动平台回答投资者提问时表示，公司始终重视投资者 关系的有效沟通，并持续优化互动机制。针对同类问题，公司将加强回复的清晰度与可参考性，尽可能 提供具体内容或索引，切实提升投资者沟通的质量与效率。 ...

Core Viewpoint - The recent announcement by Emei Mountain A to provide benefits such as free admission to shareholders holding 500 shares or more has led to a short-term increase in stock price, but it ultimately fell by 4.84% on December 3, indicating limited long-term impact on stock performance [1][3]. Group 1: Shareholder Return Activities - Over 30 A-share companies have announced shareholder return initiatives this year, with 8 in the cultural tourism sector, 11 in food consumption, and 7 in beauty and home products, primarily offering experiences or physical products [3]. - The shareholder return activities have not significantly influenced stock prices, with most stocks showing stable performance despite the announcements [3]. Group 2: Market Reactions and Analyst Insights - Analysts suggest that shareholder return activities are more about brand promotion and investor relations management rather than core performance improvement, leading to only short-term emotional market reactions [5][10]. - There is a concern that if these return activities are misrepresented as "physical dividends" or lack proper disclosure, they may attract regulatory scrutiny [7]. - The distinction between shareholder return activities and cash dividends is emphasized, urging investors to focus on the core operational capabilities and long-term growth potential of companies [8].

Core Viewpoint - The trend of A-share companies offering unique shareholder rewards is gaining popularity, with companies like Emei Mountain A and Qianwei Yangchu engaging in promotional activities to attract investor attention and boost stock prices [1][2][3] Group 1: Company Activities - Emei Mountain A announced a shareholder reward program allowing individual shareholders holding over 500 shares to enjoy free admission to its scenic area from December 1, 2025, to January 31, 2026, along with discounts for accompanying family members [2] - Qianwei Yangchu quickly followed suit by offering a product gift package worth 200 yuan to shareholders holding at least 100 shares, which led to a temporary increase in its stock price [1] - Over 30 listed companies have engaged in similar shareholder reward activities since 2025, including gifting products and offering discounts, indicating a broader trend in the market [3] Group 2: Market Implications - These shareholder reward initiatives serve as innovative and low-cost investor relations strategies that can enhance shareholder loyalty and public goodwill, although their long-term impact on investment value depends on the company's core business growth and profitability [4] - Such activities can create short-term trading opportunities and significantly boost stock prices, but they often lack sustained fundamental support, leading to potential price corrections after the initial excitement [4] - The emotional impact on investors can lead to speculative behavior, diverting attention from the company's fundamental value and increasing market volatility [4]

□四川日报全媒体记者 彭瑀珩 11月28日晚，记者获悉，四川上市公司峨眉山旅游股份有限公司（峨眉山A）公告开展股东回馈 活动，活动期间，持有"峨眉山A"股票500股及以上的个人股东和法人股东代表可享受景区门票、 索道、免费泡温泉等福利，引发市场和广大股民关注。 记者初步统计，今年以来，已有30余家上市公司通过赠送核心产品、折扣券、文旅权益等形式与 投资者互动。 文旅影视企业主推场景化福利。浙江金华的横店影视推出"2025股东回馈"活动，向持股500股以上 的股东赠送观影券、旅游门票及会员卡优惠；安徽的黄山旅游推出股东专属福利，提供旗下景区 免票及餐饮、文创折扣；浙江杭州的宋城演艺主打沉浸式体验，邀请股东免费观看演出并走进后 台，近距离感受品牌魅力。 消费制造企业偏向以实物馈赠传递品牌温度。湖南的水羊集团按持股数分级送福利，持股5000股 以上即可获赠相关美妆产品礼盒；辽宁的盖世食品在夏季推出"消暑礼盒"，在回馈股东的同时又 征集产品改进建议。此外，新疆汇嘉时代向股东赠送自有品牌有机食用油、北京全聚德向股东发 放自营商品折扣券、浙江嘉兴五芳斋也于今年端午期间向股东赠送粽子礼盒…… 记者梳理发现，资本市场"宠股东 ...

证券日报网讯12月1日，沃尔核材（002130）在互动平台回答投资者提问时表示，公司将在严格遵守信 息披露相关法律法规的基础上，持续优化投资者关系工作，向市场传递公司价值。 ...

Core Insights - Hainan Airlines Holding Co., Ltd. successfully held an "Investors Walk into Listed Companies" event, showcasing its solid operational status and the vibrant growth of the aviation industry [1][2] - The event was attended by representatives from 16 well-known securities firms and investment institutions, highlighting the company's commitment to transparency and investor relations [1][2] Group 1 - The event included a site visit to key operational areas such as the Guinness Engine Maintenance Company and the Aviation Operation Control Center, allowing investors to gain firsthand experience of the company's meticulous flight support processes and advanced maintenance capabilities [1] - Company executives, including Chairman Zhu Tao, expressed confidence in future development, aiming to become a world-class comprehensive aviation operator while integrating into national civil aviation strategies and the Hainan Free Trade Port initiative [2] Group 2 - The discussion covered recent operational performance, opportunities from the free trade port, and future development strategies, emphasizing the company's focus on optimizing route networks and enhancing operational efficiency [2] - The successful event strengthened investor recognition of Hainan Airlines' investment value and demonstrated the company's open communication approach, aiming to maintain close interactions with investors [2]

Core Viewpoint - The resilience of small and medium-sized listed companies in China continues to stand out, with effective investor relations management becoming essential for overcoming development bottlenecks and solidifying market value foundations [1][14] Group 1: Activities and Engagement - The Beijing Stock Exchange Association (北上协) has organized the "Shareholders Are Coming" series for two consecutive years, focusing on small and medium-sized listed companies with a market value below 10 billion yuan [2][14] - Over 800 participants, including institutional investors, analysts, and media representatives, engaged in face-to-face communication with 12 small and medium-sized listed companies [1][2] - The activities utilized a "reverse roadshow" approach, allowing investors to visit production facilities and R&D labs, providing a hands-on understanding of company operations [1][13] Group 2: Industry Focus Areas - The series highlighted three key sectors: biomedicine, smart transportation, and digital technology, showcasing the industrial characteristics of companies in Beijing [2] - In biomedicine, companies like Tianzhihang and Nuocheng Jianhua demonstrated innovative products and advancements in healthcare technology [3][4] - Smart transportation was represented by companies like Jiexun Feihong, which showcased their achievements in digital traffic solutions and defense technology [7] - Digital technology was emphasized through companies like Yubang Electric and Zhongke Jincai, focusing on digital infrastructure and AI-driven services [10][11] Group 3: Company Highlights - Tianzhihang's surgical robot is the first globally to cover major orthopedic surgeries, achieving international advanced levels in precision and efficiency [3] - Nuocheng Jianhua's innovative therapies have gained regulatory approval, positioning the company as a leader in hematological and solid tumor treatments [4] - Sanyuan Gene's new smart manufacturing facility incorporates AI technology, marking a significant advancement in gene engineering drug development [5] - Ganjin Pharmaceutical's insulin products dominate the market, reflecting strong competitive positioning [6] - Aibono's medical technology products fill domestic gaps and challenge international monopolies in the vision care sector [6] Group 4: Investor Relations and Market Development - The activities serve as a critical platform for small and medium-sized companies to showcase their value and engage directly with investors, addressing the challenges of information asymmetry [14][15] - The initiative aligns with national policies aimed at enhancing investor protection and promoting long-term capital market development [15] - The ongoing series of activities is set to continue, fostering deeper investor understanding of company strengths and industry prospects [15]

（编辑 姚尧） 证券日报网讯 TCL科技11月27日在互动平台回答投资者提问时表示，公司充分理解投资者对股价的关 切和对公司经营的关心，也将一如既往地加强与投资者的沟通，及时向投资者传递公司的最新发展情 况。 ...

Group 1: Company Overview - The company's revenue breakdown for 2024 is as follows: Mold business accounts for nearly 50%, Stamping business for 43%, and Aerospace components for 4% [2][4] - The current order amount for molds is approximately 2.5 billion yuan [2][4] - The company has a stable investment return from its stake in Dongshi Co., which is steadily improving in sales scale and profitability [2][3] Group 2: Business Operations - Mold products are customized with a production cycle ranging from 12 to 24 months, including an in-house manufacturing period of 8 to 10 months [5][6] - The stamping business is closely tied to customer relationships, with sales revenue significantly affected by the production schedules provided by clients [4][6] Group 3: Client Relationships - Major clients for the stamping business in Tianjin include FAW Toyota, Great Wall Motors, Beijing Benz, BMW Brilliance, and BAIC Group, while the Hefei factory serves clients like NIO and JAC Motors [6][7] - The company is actively expanding its client base around Hefei [6][7] Group 4: Acquisition Progress - The acquisition of Dongshi Co. is in the final stages of due diligence, auditing, and evaluation, but the formal agreement has not yet been signed due to the need for updated financial data [7][8] - There are risks associated with the approval process for the acquisition, and the final agreement remains uncertain [7][8]