更严峻的是净利率持续走低。2019年—2024年，西麦净利率从16.18%跌至7.02%，五年间连续下滑近乎 腰斩。尽管其计划通过优化供应链、提高采购效率缓解压力，但原材料的全球供应波动仍是一大隐患。 值得注意的是，2024年其燕麦产品设计产能达13.1万吨，实际产能利用率不足70%，产能过剩进一步推 高单位成本。 5月20日，"中国燕麦第一股"西麦食品公布投资者关系活动记录表，有投资者提问"公司 25 年推出员工 持股计划，25 年营收同比增长 15%，就目前情况看，公司预计能否实现？对此西麦食品表示："燕麦行 业市场具有广阔的市场前景和成长空间，近年来公司业绩也取得了持续稳定的增长，公司对于未来保持 良好发展态势充满信心，公司将努力争取实现经营目标。" 2024年，西麦食品以18.96亿元营收创下历史新高，同比增长20.16%；净利润1.33亿元，同比增长 15.36%。但这份成绩单背后，成本压力、食品安全隐患以及新业务增长乏力等问题持续困扰着这家"中 国燕麦第一股"。 成本管控失守 净利率连续五年下滑 2024年，西麦食品的毛利率降至41.33%，同比下降3.22个百分点。其营业成本增速达27.13%， ...

证券代码：000716 证券简称：黑芝麻 南方黑芝麻集团股份有限公司 投资者关系活动记录表 编号：2025-01 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（请文字说明其他活动内容） 参与单位名称及 人员姓名 线上参与公司2024年度业绩说明会的全体投资者 时间 2025年5月21日 15:00-17:00 地点 价值在线（www.ir-online.cn）网络互动 上市公司接待人员 姓名 副董事长、总裁李文全 副董事长、副总裁、董事会秘书周淼怀 财务总监王炳波 独立董事叶志锋 投资者关系活动 主要内容介绍 公司于2025年5月21日（星期三）15:00-17:00采用网络互动的方式，在 价值在线（www.ir-online.cn）举办了2024年年度报告网上业绩说明会。投 资者关注和交流的主要问题和公司的回复内容如下： 1.请问贵公司和黑芝麻智能 HK02533 有无关系？ 答:尊敬的投资者您好，本公司与您所提及的单位（公司）无任何关系。 感谢您对公司的关注。 2.公司股票怎么一直阴跌？ 答：您好！股票市场价格受多方面因素共同影响 ...

Core Viewpoint - The company aims to enhance marketing breakthroughs, strengthen R&D innovation, and achieve profit growth through cost reduction and efficiency improvement in 2025 [1] Financial Performance - In 2024, the company achieved operating revenue of 980 million yuan and a net profit attributable to shareholders of 60.07 million yuan [2] - In Q1 of 2025, the company reported operating revenue of 216 million yuan, with a net profit of 19.38 million yuan, reflecting a year-on-year growth of 5.41% [2] - The net cash flow from operating activities for Q1 was 8.11 million yuan, up 150.46% year-on-year [2] Market Expansion - The company has intensified market development efforts, successfully developing 652 medical institutions and conducting 217 academic promotions and departmental meetings in 2024 [2] - Collaborations with platforms like JD, Alibaba, and Meituan have been established to expand online sales [2] - The company plans to focus on five billion-yuan sales markets and four ten-million-yuan sales markets to drive sales and performance improvement [3] Brand Development - The company is enhancing brand influence by celebrating its 95th anniversary through cultural activities and has successfully applied for the "Buddha 1929 Industrial Museum" [3] - Four traditional Chinese medicine production techniques have been included in the Gansu Province Intangible Cultural Heritage list [3] - The company is actively participating in industry exhibitions and utilizing social media for brand marketing [3] R&D Achievements - The company has made significant progress in R&D, continuing the development of new Chinese medicine products and completing research on three classical formulas [4] - Ongoing research includes four proprietary products and five product standard supplement studies, with 17 products registered for sale in Hong Kong [4] - The company is exploring the health industry by developing food-medicine products and establishing "Charity Tea Houses" to attract younger consumers [4] Product Structure and Market Competitiveness - The company is optimizing its product structure and enhancing profitability by revitalizing idle drug approval numbers and integrating resources [5] - It holds 467 drug production approval numbers and has ten nationwide exclusive products, producing over 110 types of products [5] - The company has implemented a market value management system to enhance operational efficiency and investment value through various strategies [5]

Core Viewpoint - Hangzhou Tianmu Mountain Pharmaceutical Co., Ltd. (Tianmu Pharmaceutical) has successfully ended its "ST" status after being delisted from risk warnings by the Shanghai Stock Exchange, marking a significant turnaround in its performance following the acquisition by Qingdao Laoshang State-owned Assets [1][3] Company Overview - Tianmu Pharmaceutical, established in 1958 and listed in 1993, has faced numerous challenges over its 30-year history, including governance issues and financial losses, leading to its stock being under risk warnings since June 2020 [2][3] - The company was acquired by Qingdao Huilong Huaze Investment Co., Ltd. in August 2023, which became the new controlling shareholder, providing a much-needed capital infusion of over 1.1 billion yuan for a 29.99% stake [3][4] Financial Performance - Following the acquisition, Tianmu Pharmaceutical's revenue is projected to grow by 78.44% to 217 million yuan in 2024, with a net profit turnaround to 15.25 million yuan [4] - In the first quarter of the current year, the company reported an 88.55% increase in revenue, surpassing 5 million yuan in net profit [4] Strategic Initiatives - The new management has implemented several measures, including waiving 90 million yuan in debt and providing over 100 million yuan in bank credit guarantees, which have positively impacted the company's operations [4] - Tianmu Pharmaceutical is pursuing a dual-center strategy, consolidating its traditional business in Hangzhou while establishing a northern sales center in Qingdao to expand into the Shandong and North China markets [4] Industry Context - The revitalization of Tianmu Pharmaceutical is seen as beneficial for the pharmaceutical and health industry in Laoshang District, which aims to leverage the company's brand to stimulate broader industry growth [5] - The company is actively exploring new avenues in the health industry, transitioning towards a "Chinese medicine + health" model and aiming for an integrated approach in research, production, and sales [5]

安旭生物分析师会议 调研日期：2025年05月20日 调研行业：医疗器械 参与调研的机构：2024年度报告暨2025年第一季度业绩说明会 等 洞见研报 出品 : / 机构调研pro小程序 DJvanbao.com 一解投资机构行业关注度。 频判市场 | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | | | 的研究次数:8 | 上机构馆:23 | | 定年代的:用者点击:我要的中:主要原因 | | | START SHILL CARD | | | 颜的集团 | | | 例体位次数 4 | 24/40 33 | | FININ EXIAN, BENN, LEWI | | | 極力集团 | | | · 例计以上的 8 | 品机构管 23 | 机构调研 ...

证券代码：002861 证券简称：瀛通通讯 瀛通通讯股份有限公司 投资者关系活动记录表 编号：2025-001 展现年、市值管理提质年、研发创新竞争年、成本细节管 控年"六个年为行动指南，持续推进全面预算考核、大客 户服务提升、幸福企业打造等常态化工作，制定具体可行 的执行方案，并从组织、制度、人才三个维度提供坚实保 障。公司依托政策导向，把握市场脉搏，坚持以客户为中 心，将进一步加强内部管理，精准优化资源配置，不断提 升核心竞争力，推动运营效率实现从有效到高效的质的飞 跃。同时，公司将落实2025年度重点工作计划，争取更好 地完成各项经营指标，实现公司稳健、可持续及高质量增 长，为公司及广大股东带来良好的回报。有关公司经营情 况，还请关注公司后续披露的定期报告或相关公告。感谢 您的关注！ 2.2024年公司归属于上市公司股东的净利润同比增 长117.02%，请问一下利润增长的主要驱动因素是什么？ 答:尊敬的投资者，您好！2024年，公司实现净利润 1,345.45万元，较上年同期上升117.02%。公司经营业绩 有所提升，主要驱动因素系公司集中优势资源，聚焦服务 全球科技和消费电子行业内的头部客户，通过建立 ...

证券代码：301108 证券简称：洁雅股份 | | 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 现场调研 | | 参与单位名称 | 国诚投资：王凡、黄崇智。 | | 及人员姓名 | | | 2025 时间 | 年 5 月 20 日 14:00-15:00 | | 地点 | 铜陵市狮子山经济开发区铜井东路 号 1928 | | | 铜陵洁雅生物科技股份有限公司会议室 | | 上市公司接待 | 副总经理、董事会秘书：胡能华 | | 人员姓名 | 董事、财务总监：杨凡龙 | | | 证券事务代表：徐文丽 | | | 一、公司简介 | | | 铜陵洁雅生物科技股份有限公司成立于 年，是一家专 1999 | | | 注于湿巾类产品研发、生产与销售的专业制造商，经过二十多年 | | | 的发展，公司在湿巾产品的研发和生产等方面拥有深厚的技术积 | | | 累和行业经验。公司 2021 年 12 月 3 日登陆深交所创业板，募投 | | 投资者关系活动 | 项目正在稳步推进中。公司 ...

证券代码：300096 证券简称：ST 易联众 易联众信息技术股份有限公司投资者关系活动记录表 编号：2025-001 | | 特定对象调研 □分析师会议 □媒体采访  业绩说明会 | | --- | --- | | 投资者关系活动类 | | | | □新闻发布会 □路演活动 | | 别 | □现场参观 □一对一沟通 | | |  其他 厦门辖区上市公司 2024 年年报业绩说明会暨投资者网 | | | 上集体接待日活动 | | 参与单位名称及人 | 通过"全景路演"网站参与公司2024年年度报告网上业绩说明 | | 员姓名 | 会暨厦门辖区上市公司投资者网上集体接待日活动的投资者 | | 时间 | 2025 年 5 月 15 日 下午 15:40-17:00 | | 地点 | 本次活动通过"全景路演"网站（http://rs.p5w.net）、"全 | | | 景财经"微信公众号、全景路演 APP 举行，投资者通过前述方 | | | 式参与互动交流。 | | 上市公司接待人员 | 董事长、CEO：吴梁斌先生 董事会秘书：牛妞女士 财务总监：陈东红先生 独立董事：卢永华先生 | | 投资者关系活动主 | ...

Core Insights - The insurance industry is transitioning from a focus on scale and speed to one centered on value and efficiency, as highlighted by the new "National Ten Articles" [1] - The low interest rate environment poses significant challenges for life insurance companies, leading to a shift in product offerings and business strategies [2][3] - Companies like China Merchants Life Insurance are actively transforming their product structures, moving away from fixed income products to floating rate products, which helps mitigate interest spread loss risks [3][4] Industry Trends - The life insurance sector has historically relied on savings-type products, leading to interest spread dependency, which is now being challenged by declining interest rates and market volatility [5] - The focus is shifting towards pure protection products, with health insurance becoming a key area of growth due to demographic changes and government policies [5][6] - The health insurance market is approaching a scale of nearly one trillion, with expectations for rapid growth driven by aging populations and health initiatives [5] Company Strategy - China Merchants Life Insurance has set a target for health insurance products to account for 61% of its offerings by 2024, with a significant increase in health insurance premium income [5][10] - The company is prioritizing high-end medical insurance, leveraging its strong distribution channels and expertise to capture market demand [7][8] - A comprehensive health management service system is being developed to differentiate the company in the competitive landscape, with a focus on integrating health services with insurance products [9][10] Financial Performance - In 2024, China Merchants Life Insurance reported a 19.74% increase in insurance business revenue, reaching 41.483 billion, with new business value growing by 38% [11] - The company achieved a net profit of 559 million, marking a 31.52% year-on-year increase, while maintaining strong solvency ratios [11]

债券代码：123142 债券简称：申昊转债 证券代码：300853 证券简称：申昊科技 杭州申昊科技股份有限公司 投资者关系活动记录表 编号：2025-003 | |  特定对象调研 分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访  业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | |  现场参观 | | | 其他 | | | 13:00-14:30 高熵资产、浙商证券、东方财富证券、长江证 | | 参与单位名称及 | 券、国泰海通证券 | | 人员姓名 | 15:00-16:00 线上参加公司 2024 年度暨 2025 年第一季度网 | | | 上业绩说明会的全体投资者 | | 时间 | 2025 年 5 月 16 日 | | 地点 | 13:00-14:30 现场调研/线上交流 | | | 15:00-16:00 价值在线（https://www.ir-online.cn/）网络 | | | 互动 | | 上市公司接待人 | 13:00-14:30 董事会秘书 朱鸯鸯 | | 员姓名 | 15:00-16:00 总经理 曹光客、独立董事 胡国柳、保 ...