2025 年 11 月 25 日投资者关系活动记录表 | | 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 （请文字说明其他活动内容） | | | 活动参与人 | 中信证券、中信自营、招银理财、中庚基金、丹羿投资、北京金阳矿业、华源 | | | 员 | 证券 | | | 时间 | 2025 年 11 月 25 日 | 15:00-16:50 | | 地点 | 上市公司会议室 | | | | 董事长：翁占斌 | | | 上市公司接 | 董事、总经理：汤磊 | | | 待人员姓名 | 财务总监：杨丽敏 | | | | 副总经理、董事会秘书：孙铁明 | | | | 党支部副书记：王怀斌 | | | | 交流主要内容如下： | | | 投资者关系 活动主要内 | 1.瓦图科拉金矿的排水情况？之前长期水淹是否影响作业面？ | | | 容 介 绍 | 回复：瓦图科拉金矿随着泵房等相关设备陆续得到更新与改造，排水能力得到 | | | | 了一 ...

证券代码：603307 证券简称：扬州金泉 公告编号：2025-054 扬州金泉旅游用品股份有限公司 股权激励计划限制性股票授予结果公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ■ 一、股权激励计划前期基本情况 二、限制性股票授予情况 （一）本次权益授予的具体情况 1、授予日：2025年9月30日 2、授予数量：20.00万股 3、授予人数：11人 4、授予价格：14.97元/股 5、股票来源：公司向激励对象定向发行公司 A 股普通股 6、实际授予数量和拟授予数量的差异说明： ■ 三、激励计划的有效期、锁定期和解锁安排情况 （一）有效期 扬州金泉旅游用品股份有限公司（以下简称"公司"）2024年限制性股票股权激励计划（以下简称"本次 激励计划"）方式为_限制性股票_____，股份来源为_公司向激励对象定向发行公司A股普通股_____， 拟授予的权益数量为 107.70万股_____，占公司总股本比例为_1.61%_。其中，首次授予的权益数量为 __87.70万股____，占公司总股本比例为__1.31% ...

Summary of Dogwood Therapeutics Special Meeting Company Overview - **Company**: Dogwood Therapeutics (NasdaqCM:DWTX) - **Event**: 2025 Extraordinary General Meeting - **Date**: November 21, 2025 Key Proposals Discussed 1. **Proposal One**: Approval for the issuance of common stock upon conversion of Series A non-voting convertible preferred stock, par value $0.0001 per share [8] 2. **Proposal Two**: Approval for the issuance of common stock upon conversion of Series A1 non-voting preferred stock, par value $0.0001 per share [9] 3. **Proposal Three**: Approval for the issuance of common stock upon conversion of Series A2 non-voting convertible preferred stock, par value $0.0001 per share [9] 4. **Proposal Four**: Approval of the Dogwood Therapeutics Second Amended and Restated 2020 Equity Incentive Plan [9] 5. **Proposal Five**: Approval for the adjournment of the special meeting to a later date if necessary [9] Voting Results - **Proposal One**: Approved under both Delaware law and NASDAQ Listing Rules [13] - **Proposal Two**: Approved under both Delaware law and NASDAQ Listing Rules [13] - **Proposal Three**: Approved under both Delaware law and NASDAQ Listing Rules [14] - **Proposal Four**: Approved [14] - **Proposal Five**: Approved [14] Additional Information - A quorum was established with more than one-third of the outstanding shares present [6] - The final voting results will be filed with the SEC on Form 8K within four business days after the meeting [16] - The meeting concluded with a focus on improving care for patients suffering from pain and neuropathy [16]

（编辑 袁冠琳） 证券日报网讯 威尔高11月20日在互动平台回答投资者提问时表示，公司设定的业绩考核指标是科学与 审慎的，旨在建立长期激励与约束机制，有效地将股东利益、公司利益和核心团队个人利益紧密结合。 该目标的设定是基于公司历史业绩、行业发展状况、市场竞争情况以及公司未来的发展战略综合制定 的。为此，公司将勤勉尽责，积极经营，以推动公司业绩增长，争取达成激励目标。需要强调的是，业 绩考核目标的达成受宏观经济环境、行业政策、市场竞争等多种因素影响，存在不确定性。股权激励计 划能否最终顺利完成，需待考核期结束后，根据实际经营成果并依据相关规定进行严格审核后方能确 定。 ...

董秘： 尊敬的投资者，您好！感谢您的建议。公司高度重视市值表现与投资者关系管理，已建立专业 的团队负责信息披露、投资者沟通与资本市场研究。我们也将持续优化相关工作，提升市场对公司的认 知与信任。感谢您的关注与支持！ 投资者： "人争一口气,佛争一柱香"，那怕加速回购、极速增持也要将市值拉回合理范围内，维护公司 形象与尊严。公司业绩逐年增长且极度优秀的今天，公司股价仍然暴跌不止，目前只有区区240亿左右 的市值，不及很多绩差股、ST股的市值，在同行上市公司中市值垫底（同行振德市值将近300亿） 董秘： 尊敬的投资者，您好！二级市场股价受宏观经济、行业政策、市场情绪等多重因素影响。稳健 集团以"呵护健康、关爱生命、保护环境，让世界更美好"为愿景，旗下拥有"winner 稳健医 疗"和"Purcotton 全棉时代"两大主品牌。近年来，公司始终致力于提升经营业绩和股东价值，产品力和 品牌力逐步得到市场广泛认可，美誉度越来越高，随着核心竞争力的增强，公司未来前景越来越广阔！ 感谢您的关注与支持！ 截至2025年11月18日收盘，稳健医疗(300888)报收于41.31元，下跌0.86%，换手率0.67%，成交量3.9 ...

Summary of Xiamen Xiangyu Conference Call Industry Overview - Xiamen Xiangyu operates in a highly competitive industry with significant barriers to entry, achieving annual revenues of approximately 400-500 billion CNY [2][4] - The company has experienced substantial growth in revenue and profit since its listing in 2012, although its performance is cyclical and closely tied to commodity price fluctuations [2][5] Financial Performance - In 2022, Xiamen Xiangyu reported a profit of 2.7 billion CNY, but this is expected to decline to 1.4 billion CNY in 2024 due to industry cycles [2][6] - Profit is projected to recover to 1.9-2.0 billion CNY in 2025 and reach approximately 2.4 billion CNY by 2026, with corresponding valuations of about 11 times and 15 times earnings, respectively [2][6][7] - The company maintains a dividend payout ratio of approximately 45%-50%, with a dividend yield exceeding 4% [2][6] Business Strategy and Growth Potential - The implementation of anti-involution policies and capacity reduction measures is expected to lead to a recovery in the industry, with increased market activity benefiting the company [2][7] - Xiamen Xiangyu plans to enhance its cargo volume to 240 million tons by 2025, with overseas business potentially increasing from 45% to over 60% [2][7] - The introduction of an equity incentive plan in April 2025 reflects the company's confidence in future growth [2][7] Competitive Position - Xiamen Xiangyu is positioned similarly to Japanese trading companies like Mitsubishi and Mitsui, focusing on the trade of resource commodities such as metals, coal, agricultural products, rubber, and corn [3][4] - The company offers comprehensive trade services, including light processing, logistics, information services, and supply chain finance, providing full support to downstream factories [3][4] Comparison with Peers - Compared to peers like Wucai Zhongda, Xiamen Jianfa, and Xiamen Guomao, Xiamen Xiangyu demonstrates superior performance, particularly in its equity incentive mechanisms and pricing power in aluminum, coal, and agricultural sectors [2][8] - Historical data indicates that the company's valuation has previously exceeded 20 times earnings, and it is currently in a recovery phase [8] Market Outlook - The overall growth rate is expected to be around 30% for the upcoming year, with a projected 20% growth in 2026, leading to a compound annual growth rate of 20% [9] - The relationship between the two sides of the Taiwan Strait has acted as a catalyst for the company's performance recovery, although the fundamental reliance remains on the company's actual performance [10]

Core Viewpoint - The company is implementing a restricted stock incentive plan to enhance its long-term incentive mechanism, aiming to align the interests of shareholders, the company, and management for sustainable development [1] Group 1: Sales Performance - During the 2025 Double Eleven shopping festival, the company entered the sales Top 20 list for the first time, indicating strong performance [1] - The company’s product categories, particularly in cosmetics, showed good growth momentum, with popular items like caviar cushion foundation and air lip glaze performing well [1] - The skincare segment, especially the caviar series, has significant growth potential, and the launch of 13 new perfumes in May has resulted in several best-selling products [1] Group 2: Customer Loyalty and Repurchase Rate - As of the first half of 2025, the company has 405 self-operated counters and 32 distributor counters, employing over 3,100 beauty consultants to enhance brand visibility [2] - The total number of registered members in the online and offline loyalty programs reached approximately 13.4 million and 5.6 million, respectively, with an overall repurchase rate of 26.8%, up by 2 percentage points year-on-year [2] - The main brand, MAOGEPING, ranked first in repurchase rate in the beauty and cosmetics category on the Douyin platform, reflecting increasing consumer loyalty [2] Group 3: Profit Forecast and Rating - Based on strong sales performance across online and offline channels, the company forecasts net profits of 1.21 billion, 1.58 billion, and 2.03 billion yuan for 2025-2027, representing year-on-year growth of 38%, 30%, and 28% respectively [2] - The company is recognized as a high-end cosmetics brand with a unique founder IP that enhances brand value, and it is expected to continue growing steadily in both skincare and cosmetics categories [2] - The company maintains a "buy" rating due to its brand value, channel advantages, and potential for future growth [2]

每经记者|曾子建 每经编辑|袁东 简单来看，特斯拉股票市值每增加5000亿美元，他才能拿到其中一部分薪酬，直到特斯拉市值达到8.5万亿美元。而现在，特斯拉的市值约为1.5万亿美元， 下一个目标是涨到2万亿美元，这就是33%以上的空间。 除了市值目标外，还有其他考核指标。比如交付第2000万辆汽车，运营100万辆机器人出租车，销售100万个机器人等等，每完成一项，马斯克才能拿到一部 分。 说白了，这其实就是一个"对赌协议"，更容易让我们理解的，就是A股公司常见的股票期权激励计划。所以现在你应该知道，为什么特斯拉的股东大会能够 通过马斯克的万亿薪酬方案了吧。因为马斯克很可能根本就拿不到这一大笔钱，但这个方案，能够激励马斯克带领特斯拉向一个远期目标不断前进。股票市 值从1.5万亿美元涨到8万亿美元，分给马斯克1万亿美元，大家都不亏。看到这里，突然发现，马斯克在大股东眼中，还是"牛马"啊。 再说咱们的港股，其实天价薪酬也不少，虽然不是万亿美元这种天文数字，但绝对都是数以亿计。 前不久，香港知名股评人David Webb公布了香港上市公司2024年的薪酬排行榜，有31人去年薪酬超过1亿港元。 今年9月5日，马斯克提出了 ...

Core Points - The company, Weixing Co., has completed the registration of the first grant of restricted stock under its sixth equity incentive plan [2] - A total of 19.42 million shares were granted, representing 1.66% of the company's total share capital prior to the grant [2] - The number of recipients for this grant is 194 individuals, with an adjusted grant price of 5.12 yuan per share [2] - The listing date for the restricted stock is set for November 11, 2025 [2] - Following the completion of the restricted stock registration, the company's equity distribution remains compliant with listing conditions and will not result in a change of control [2]

大家好，我是微三云阿奔，一家软件开发公司的负责人，专注于模式设计12年+私域电商平台方案设计。 2024年，湖南顶俏生物凭借"消费+分销+股权"三层裂变模式在下沉市场迅速崛起。其通过"100元购8瓶洗衣液，推荐返利"的营销策略，快速吸纳10万会员， 业务覆盖1038个县城。该企业自诩为"洗衣液黑马"，构建了阶梯式身份升级体系，包括消费层（100元入门）、核销网点（3000元投资）、工厂店（2万元区 域代理），形成了"低门槛参与-高回报诱惑"的裂变机制，并宣称"2025年营收破亿"。本文将深入剖析其商业模式及潜在隐忧。 （三）股权激励计划：长期绑定核心 顶俏生物承诺将40%股权分配给优秀经销商，条件为培育两个300万元市场且合规经营满1年。该机制维系头部参与者持续投入，如经销商李某获股权后月收 入3万元，晋升决策层。 消费层推荐一单获22.5元佣金，适合兼职群体；网点层推荐新网点获1050元，推荐工厂店获7000元，吸引小微企业主；工厂店推荐新工厂店获8000元，享区 域销售2%分红，针对团队领导者。多层级奖励设计助早期参与者快速盈利，如团队长王某率500人团队月均收入超8万元。 （二）团队分红机制：协作提升业 ...