（编辑 王雪儿） 证券日报网讯 科陆电子11月21日发布公告，在公司回答调研者提问时表示，公司将加大市场拓展力 度，加强应收账款回款管理，增加经营性资金流入，同时拓宽融资渠道、降低融资成本，进一步降低资 产负债率。 ...

证券日报网讯振华风光11月14日在互动平台回答投资者提问时表示，公司应收账款主要源于高可靠领域 业务特点，客户多为央企集团及科研院所，信用等级较高，历史回款风险整体可控。应收账款主要受产 品交付周期延长及客户结算流程影响。公司已采取多项措施加强管控：一是强化合同签订前的客户信用 调查与额度管理；二是优化回款激励机制并针对性制定回款计划；三是通过"销售+技术"协同深化客户 需求跟进及回款责任制。2025年上半年，公司经营活动现金流净额同比改善2.12亿元，反映回款效率提 升，但具体回款金额受客户实际进度制约，存在不确定性。 （文章来源：证券日报） ...

Core Viewpoint - The company reported a significant increase in accounts receivable, raising concerns about potential risks, but management assures that the growth is aligned with revenue and that measures are in place to mitigate bad debt risks [2]. Group 1: Financial Performance - As of November 13, 2025, the company's stock closed at 64.46 yuan, with a slight increase of 0.53% and a turnover rate of 1.89% [1]. - The company achieved a record high revenue of 50.19 billion yuan in Q3 2025, with accounts receivable reaching 48.7 billion yuan, reflecting a substantial year-on-year growth of 63.72% [2]. Group 2: Accounts Receivable Management - The increase in accounts receivable is attributed to the expansion of business scale, with no significant change in the overall collection cycle compared to the previous year [2]. - The company maintains a good credit status among its clients and continuously improves its credit management system, dynamically tracking client credit conditions and setting reasonable payment terms [2]. Group 3: Market Activity - On November 13, the net inflow of funds from major investors was 30.38 million yuan, while speculative funds saw a net inflow of 61.03 million yuan, contrasting with a net outflow of 91.41 million yuan from retail investors [2].

Core Viewpoint - Jiangsu Fengshan Group Co., Ltd. held a Q3 2025 earnings briefing on November 11, 2025, to discuss its financial performance and address investor inquiries [1][2]. Group 1: Earnings Performance - For the first three quarters of 2025, the company achieved a revenue of 914 million yuan, representing a year-on-year increase of 14.29% [3]. - The net profit attributable to shareholders was 42 million yuan, showing a significant year-on-year growth of 271.03%, primarily due to an increase in product gross margins [3]. Group 2: Accounts Receivable Management - The company has enhanced its customer credit evaluation system and strengthened accounts receivable management, focusing on both preventive measures and multi-dimensional collection strategies [4]. - A tripartite mechanism involving business, market, and legal departments has been established to improve the collection process [4]. Group 3: Operational Insights - The company reported strong operational performance across its pesticide, new energy electronic chemicals, and fine chemical new materials sectors, with detailed data available in the Q3 report [4]. - The capacity utilization rate for pesticide products remains high due to sufficient order volumes [4]. Group 4: Strategic Collaborations - The company has signed a technology development contract with Tsinghua University to leverage its research capabilities for advancing its new energy sector [5]. - This collaboration aims to enhance the company's R&D capabilities and market competitiveness in the new energy field [5]. Group 5: Product Margins and Competitive Strategy - The gross margins for herbicides and insecticides have increased compared to the previous year [6]. - The company plans to innovate in production processes and technology to improve product yield and reduce costs in its pesticide business, while also expanding its product lines in new materials and strengthening partnerships in the new energy sector [6]. Group 6: Shareholder Information - Information regarding the shareholding structure of the top ten shareholders is available in the Q3 report [6]. Group 7: Additional Information - Investors can access the details of the earnings briefing and its main content through the Value Online platform [7]. - The company expressed gratitude to investors for their participation and ongoing support [7].

证券日报网讯有研粉材11月10日在互动平台回答投资者提问时表示，前三季度，公司对部分信用良好的 长期客户给予一定的信用账期，相关客户资质优良，整体坏账风险可控。同时公司已建立客户信用管理 体系，对超期欠款客户会采取收紧信用政策、暂停发货等措施。四季度公司各部门将加快应收账款催 收，改善现金流情况，公司也会适当考虑将应收账款周转率或经营活动现金流净额纳入内部考核。 ...

Core Viewpoint - The company emphasizes the importance of accurately reflecting its financial status and asset value by provisioning for potential impairment losses in accordance with accounting standards and policies [1] Group 1: Financial Management - The company is actively monitoring accounts receivable recovery through customer credit management to mitigate risks from the source [1] - A dynamic monitoring and early warning system for customer payments has been established to prevent performance risks in real-time [1] - A specialized team has been formed to enhance the recovery of accounts receivable, aiming to reduce bad debts and improve the quality of accounts receivable [1]

（文章来源：证券日报） 证券日报网讯中远海科11月10日在互动平台回答投资者提问时表示，公司应收账款规模主要受行业特 征、收入结构及付款周期等因素影响。公司客户主要来源于港航企业、高速公路和城市运营单位，付款 能力和信用状况相对较好。公司管理层高度重视应收账款清收管理工作，将通过跟踪客户资信、压实回 款考核、强化客户沟通、优化催收机制等途径持续加强款项回收力度。 ...

Core Viewpoint - The company emphasizes the importance of accounts receivable management and plans to strengthen its credit management system to ensure healthy and stable development [1] Group 1 - The company is committed to enhancing accounts receivable management [1] - The company will strictly implement its credit management system [1] - The company aims to improve capital turnover [1]

Core Viewpoint - The company emphasizes its commitment to managing accounts receivable effectively, ensuring a robust management process and risk control system [1] Group 1 - The company responded to investor inquiries on November 7, highlighting its adherence to management regulations in accounts receivable [1] - The company is closely monitoring accounts receivable matters to safeguard its interests [1]

Core Viewpoint - The company emphasizes the establishment of a comprehensive credit evaluation system and accounts receivable policy to manage business cooperation risks and protect shareholder interests [1] Group 1 - The company considers factors such as customer business scale, credit status, and historical cooperation when evaluating credit [1] - The company aims to continuously strengthen risk assessment and accounts receivable management [1] - The company is committed to safeguarding the interests of the company and its shareholders while achieving future operational goals [1]