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 活动参与人员 一、参与人员： 深圳市麻王投资集团有限公司 冯健饶 广州泽恩投资控股有限公司 曹盈盈 厦门国际银行股份有限公司 李福平 二、上市公司接待人员姓名： 董事会秘书：余俊乐 财务总监：曾立军 证券事务代表：高永恒 时间 2025 年 12 月 2 日（星期二）14:00-15:30 地点 公司二楼会议室 形式 现场会议 交流内容及具体 问答记录 1、 问：详细介绍一下在新兴领域，公司具体采取了 哪些市场开拓策略和技术应用措施，实现如此快速的增 长？ 答：公司在新兴领域的快速增长，主要得益于公司积 极把握国家在新能源光伏、水利、风电基础、港口码头、 海洋工程等领域的市场机遇，集中优势资源重点投向高潜 力的新兴领域。同时，通过参与重大基建项目，持续巩固 并提升品牌影响力。 | 技术上，近年来公司充分结合新兴领域的需求，持续 | | --- | | 加强高附加值新产品的研发与生产工艺创新，开发出海工 | | 超长超大直径预制桩等产品，显著提升了在复杂工程环境 | | 中的产品适配性与 ...

Financial Performance - The company has achieved a compound annual growth rate (CAGR) of approximately 25% in both revenue and net profit from 2019 to 2024 [2][3] - In 2024, the company reported a revenue of 865 million CNY, representing a year-on-year growth of 34.30%, and a net profit of 176 million CNY, with a growth of 26.01% [2] - For the first quarter of 2025, the revenue was 229 million CNY, showing a year-on-year increase of 39.00%, while the net profit was 47 million CNY, up by 3.24% [2] Revenue Breakdown - In 2024, revenue from the automotive sector was 567 million CNY, accounting for 65.60% of total revenue, with a year-on-year growth of 42.51% [5] - Revenue from the new energy vehicle sector grew by 72.61% compared to the previous year [5] - Other sectors such as communications electronics, rail transit, and engineering machinery also saw revenue growth compared to 2023 [5] Market Expansion and Strategy - The company is actively exploring emerging markets such as aerospace, wind power, photovoltaics, energy storage, and medical sectors [5] - The medical sector generated nearly 3 million CNY in revenue in 2024, indicating growth but still representing a small portion of total revenue [5] - The company plans to establish a subsidiary in Morocco with an expected investment of up to 100 million CNY [5] Competitive Landscape - The market for functional protective sleeves is fragmented, with competition from multinational corporations and domestic leaders [6] - In 2024, sales revenue from the U.S. accounted for 5.91% of the company's main business revenue, totaling approximately 50.92 million CNY [6] - The company has established strong relationships with various well-known brands and has passed stringent supplier audits, enhancing its competitive position [7] Operational Capacity - The company operates approximately 115,000 square meters across its main production facilities in Dongguan, Jiangmen, and Suzhou [4] - Plans for capacity enhancement include new production sites and equipment upgrades in response to increasing orders [4] Challenges and Risks - The company faces challenges related to raw material price fluctuations, particularly those influenced by oil prices [4] - The diverse application scenarios and varying demand across different sectors make it difficult to estimate the total market capacity for its products [6]

Financial Performance - From 2019 to 2024, the company's revenue and net profit have shown a steady growth, with a compound annual growth rate (CAGR) of approximately 25% for both metrics [2] - In 2024, the company achieved a revenue of 865 million yuan, representing a year-on-year growth of 34.30%, and a net profit of 176 million yuan, up by 26.01% [2] - For the first quarter of 2025, the company reported a revenue of 229 million yuan, a year-on-year increase of 39.00%, with a net profit of 47 million yuan, growing by 3.24% [2] Cost and Margin Analysis - The change in gross margin for Q1 2025 was primarily due to increased operating costs, influenced by factors such as rising material costs and production ramp-up in new facilities [3] - The functional protective sleeve products accounted for 78.04% of total revenue in 2024, with other products contributing 21.96%, amounting to approximately 190 million yuan [4] Market Expansion and Investment - The company plans to establish a subsidiary in Morocco to serve existing European customers and explore new markets [3] - The Mexican subsidiary began operations in late November 2024, with a focus on quality management and customer engagement [3] - The company is also investing in capacity enhancement projects, including the construction of a new facility in Dongguan and the Moroccan subsidiary [4] Revenue Sources and Client Segmentation - In 2024, revenue from the automotive sector reached 567 million yuan, accounting for 65.60% of total revenue, with a year-on-year growth of 42.51% [4] - Revenue from the new energy vehicle sector grew by 72.61% [4] - The company is actively exploring emerging markets such as aerospace, wind power, and medical sectors, with a focus on precision medical catheter design and assembly [5] International Sales and Future Outlook - In 2024, the company's overseas sales revenue was approximately 172 million yuan, with the U.S. market contributing about 50 million yuan, representing 5.91% of total revenue [5] - The company is considering establishing sales and production facilities in Southeast Asia to enhance its global market presence [5] Shareholder Engagement and Future Plans - The company has developed a three-year dividend return plan for shareholders, emphasizing the importance of reasonable investment returns [6] - The top five customers accounted for 32.23% of total sales in 2024, an increase from 26.44% in 2023 [6]