Group 1: Company Overview - Long Cable Technology Group Co., Ltd. is identified by stock code 002879 and abbreviated as 长缆科技 [1] Group 2: Investor Relations Activity - The investor relations activity was a specific object survey held on November 18, 2025, from 10:00 to 11:00 in the company meeting room [2] - Participants included Huang Ping (Director, Board Secretary, Financial Responsible Person), Liu Lihong (Securities Affairs Representative), and Shang Danni (IR) [2] Group 3: Product Advantages - Double River Energy has established advantages in the natural ester insulating oil sector, characterized by high flash and fire points, natural biodegradability, low carbon footprint, and strong overload capacity [2] - Successful applications of natural ester insulating oil include the world's first 110kV natural ester transformer and a 180 MW offshore photovoltaic project by the Three Gorges Group [2] Group 4: Research and Development - In 2024, Double River Energy increased R&D investment and participated in a national key technology project for plant-based insulating oil for ultra-high voltage transformers [2] - The company is currently testing its immersion-type insulating cooling liquid, which aims to broaden product variety and enhance market competitiveness [3] Group 5: R&D Achievement Transformation - The company emphasizes the industrial application of R&D achievements, showcasing strong technology transfer capabilities [3] - In 2018, the company successfully developed cross-linked polyethylene insulating power cable accessories for 290/500kV and ±525kV, marking a significant breakthrough in higher voltage levels [3] - In 2022, the company achieved notable success in the national grid's centralized bidding for 330kV-500kV series products, indicating the commercial application of these products in urban power transmission networks [3] Group 6: Industry Competition Landscape - The cable accessory industry exhibits a "pyramid" structure in market competition, with a fragmented landscape in the medium and low voltage segments due to lower technical barriers [3] - In the high voltage cable accessory sector, higher technical barriers lead to increased industry concentration, with major competitors including Changyuan Group, Hancable, and foreign firms like Sumitomo and Prysmian [3] - The company is among the few globally capable of independently developing and producing ultra-high voltage cable accessories, positioning itself alongside international leaders in technology [3]

Group 1: Product Development and Innovation - In 2024, the company successfully developed two innovative products in collaboration with China Three Gorges Construction Group and China Electric Power Research Institute, achieving national-level technical certification for 750kV cable accessories, marking a significant technological breakthrough in ultra-high voltage cable technology [2] - Double River Energy has established advantages in the natural ester insulating oil sector, which is characterized by high flash points, high ignition points, biodegradability, and strong overload capacity, making it an ideal environmentally friendly insulating oil for transformers [2][3] Group 2: Market Expansion and International Business - In 2024, the company successfully entered international markets including Italy, the United States, Uruguay, Oman, and Algeria, achieving export sales of its full product range [3] Group 3: Marketing Strategy and Channel Development - The company is implementing a comprehensive marketing strategy supported by continuous investment in marketing system construction, focusing on a multi-level marketing network covering provincial, municipal, and county markets [3] - The marketing model emphasizes a customer-centric approach, establishing a four-in-one incentive system that includes pricing strategy, tiered authorization, cost control, and mechanism innovation, enhancing market share and brand influence [3] - Strategic adjustments and continuous optimization of the marketing system have improved market response speed and service quality, providing a strong guarantee for sustained business growth [3]