4、汇兑损益对公司业绩的影响？ 答：根据已披露的 2025 年度业绩快报，可以看出，受汇率波动影响导致汇兑 净损失明显增加，叠加固定费用增加等因素导致了公司在营收略有增长的情况下， 各项利润指标有所下滑。 5、公司的定价模式是怎样的？对于近期大宗原材料涨价有哪些措施？ 答：过去一段时间，铜等大宗商品价格涨幅较大，对公司原材料成本造成一 定影响。但公司产品采用成本加成的定价模式，依照客户的实际要求，根据生产 过程中涉及到的材质、工艺、难度等进行合理定价。同时，积极根据存量订单以 及原材料价格趋势等情况，有效把握采购节点、优化库存管理，并积极推进新材 料、新工艺研发，通过多种措施努力消化原材料上涨带来的不利影响。 6、公司如何看待行业价格竞争？ 答：服饰辅料行业是一个充分竞争的市场，价格竞争也是其中的正常商业行 为。然而对于中高档品牌客户来说，钮扣、拉链等服饰辅料产品占成衣成本的比 重较小；相较于价格，品牌客户更重视服饰辅料供应商的产品研发能力、交期和 服务等综合保障能力。因此，我们认为产品价格只是下游客户的考量因素之一。 证券代码：002003 证券简称：伟星股份 浙江伟星实业发展股份有限公司 投资者关系活动记 ...

Core Viewpoint - The company emphasizes that its production and operations must consider various factors such as market demand, inventory structure, customer orders, customized requirements, resource endowment, and long-term development [2] Pricing Strategy - The company's product pricing is primarily based on fluctuations in raw material prices, taking into account customer demand, its own cost structure, production cycles, and market conditions during negotiations with clients [2] - The sales price of the company's products is mainly determined using a cost-plus model, where prices, order quantities, and technical specifications are negotiated on a one-on-one basis with major customers [2] - Customers reference the average raw material prices from a period prior to contract signing to determine pricing levels [2] Market Dynamics - There is a certain lag in the transmission of raw material price changes to the sales prices of finished products due to factors such as pricing models, market competition, and coordination of customer relationships [2]

Core Viewpoint - The report from China Galaxy Securities indicates that the rising cycle of upstream raw material prices presents clear profit recovery opportunities for leading textile yarn companies due to a contraction in wool supply and a rebound in demand, alongside fluctuating cotton prices supported by inventory consumption ratios [1][2]. Group 1: Upstream Raw Material Market Dynamics - The upstream raw material market for the textile and apparel industry is undergoing a restructuring of supply and demand dynamics, with Australian wool supply entering a contraction phase since 2025, while downstream apparel demand recovery is driving replenishment intentions, leading to an increase in wool prices [2][3]. - Global cotton production and consumption have remained stable, with the 2025/26 production expected to reach 26 million tons, reflecting a modest year-on-year growth of 0.81%, while consumption is projected to remain steady at 25.89 million tons [4]. Group 2: Wool and Cotton Price Trends - Wool prices have entered a new upward cycle since July 2025, rising from 1208 AUD cents per kilogram to 1665 AUD cents per kilogram by January 29, 2026, marking a year-on-year increase of 39.7% [3]. - The inventory-to-consumption ratio for cotton in 2025/26 is projected to be 62.64%, which is at a lower level compared to the past decade, indicating that strong replenishment intentions and resilient consumption are key drivers supporting domestic cotton prices [4]. Group 3: Impact on Company Profitability - The rising wool price cycle typically corresponds with an increase in profit margins for wool spinning companies, as they adopt a cost-plus pricing model, allowing for higher product prices during periods of rising wool prices [5]. - Cotton constitutes approximately 70% of the raw material costs for yarn companies, and leading companies like Huafu Fashion and Bailong Oriental exhibit a positive correlation between their yarn business profit margins and cotton prices, performing better during periods of rising or high cotton prices [5].

南财智讯2月2日电，英思特在投资者关系活动中表示，存储价格高涨虽沿产业链向上传导，但因磁性材 料应用器件在消费电子产品中单体价值量较低，且公司采用成本加成的定价模式，因此该提价压力对公 司毛利率的影响是可控的；公司已与客户形成成熟、灵活的价格协商机制，并持续通过内部精益管理优 化成本结构以应对潜在市场风险。 ...

Core Viewpoint - The company emphasizes that its production and operations must consider multiple factors, including market demand, inventory structure, customer orders, resource endowment, and long-term development [1] Pricing Mechanism - The sales price of the company's products is primarily determined using a cost-plus pricing model [1] - Prices, order quantities, and technical specifications are negotiated on a one-on-one basis with major customers, typically on an annual, semi-annual, or quarterly basis [1] - Customers reference the average price of raw materials over a period prior to contract signing to determine pricing levels [1] Price Transmission - There is a certain lag in the transmission of raw material price changes to the sales prices of finished products due to factors such as pricing models, market competition, and customer relationship management [1]

Core Viewpoint - The company employs a "cost-plus" pricing model, which may experience temporary impacts on gross margins due to rapid fluctuations in raw material prices, but can maintain stability through gradual price adjustments over time [1] Pricing Strategy - The company utilizes a "cost-plus" pricing model, which allows for gradual price transmission to stabilize gross margins in response to long-term trends in raw material prices [1] Supplier Relationships - The company has established long-term stable partnerships with various types of raw material suppliers, ensuring a steady supply of materials from its headquarters in Baotou, Inner Mongolia, a major source of rare earth materials in China [1] Procurement and Inventory Management - The company has signed long-term agreements with suppliers to guarantee stable raw material supply and closely monitors market dynamics and policy changes to predict raw material price trends [1] Operational Measures - The company implements several measures to mitigate the adverse effects of raw material price fluctuations on its operational performance, including advance procurement of rare earth materials based on existing orders, establishing price adjustment mechanisms with customers, optimizing formulations, and improving processes [1]

Group 1: Upstream Companies Performance - Upstream companies in the non-ferrous metals industry showed strong performance in the first half of 2025, driven by rising product prices [3] - Xibu Mining achieved operating revenue of 31.619 billion yuan, a year-on-year increase of 27%, with net profit attributable to shareholders reaching 1.869 billion yuan, up 15% [3] - Cangge Mining reported operating revenue of 1.678 billion yuan and net profit of 1.8 billion yuan, a year-on-year growth of 38.8%, with potassium chloride average selling price increasing by 25.57% to 2845 yuan/ton [3] - Lead prices surpassed 17,100 yuan/ton due to rising demand from the battery sector, benefiting upstream mining companies [3] Group 2: Downstream Companies Challenges - Downstream companies are facing cost pressures due to rising raw material prices, leading to a decline in profit margins for some [4] - Hanwei Technology reported a net profit drop of 87.86% year-on-year, primarily due to significant increases in production costs from raw material price hikes [4] - Instech adopted a cost-plus pricing model to manage raw material price fluctuations, facing challenges from the lag in price adjustments [4] - Xizi Clean Energy implemented a diversification strategy to mitigate raw material price risks, including traditional measures and futures hedging [4] Group 3: Global Expansion Strategies - Huagong Technology is actively advancing its global business strategy, establishing over 60 offices across major regions in China and setting up four overseas R&D centers [5] - The company has seen significant growth in export orders in Europe, North America, and the Middle East, with new overseas production bases and subsidiaries [5]