电焊是明火作业，焊接过程产生的金属火花会四处飞溅，操作不慎极易引发火灾、爆炸等事故。4月30 日，江苏省应急管理厅公布4起违规电焊作业典型案例，提醒广大生产经营单位必须严格落实安全生产 主体责任，切实执行电焊等特种作业持证上岗、审批监管、现场防护等制度。 焊工独自焊接受伤，企业被罚1.8万元 2024年3月，南京江北新区应急管理局根据工伤联动线索反馈，得知辖区内某企业动火作业发生事故导 致人员受伤。 执法人员立即进行执法核查，发现该企业承包商南京埃沙制冷机电设备有限公司当天正在进行设备检维 修作业，焊工许某独自一人开展焊接动火作业，未按规定安排专门人员进行动火作业现场安全管理，动 火现场安全管控措施无人督促落实。 南京埃沙制冷机电设备有限公司上述行为违反了《安全生产法》第43条的规定，南京江北新区应急管理 局依据该法第101条第(三)项，对该公司作出罚款人民币1.8万元的行政处罚。 宝应县应急管理局依据《安全生产法》第97条第(七)项、第99条第(二)项，经分别裁量、合并处罚，对 该公司作出罚款人民币2.1万元的行政处罚。 2024年11月，淮安经开区安监局执法人员受淮安市应急管理局委托，对淮安市跃健钢结构有 ...

证券代码：301252 证券简称：同星科技 浙江同星科技股份有限公司 投资者关系活动记录表 编号：2025-001 | | ☑特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 □其他 | | 参与单位名称及 | 中信证券 王涛 | | 人员姓名 | 野村资管 李行杰 | | 时间 2025 | 年 4 月 30 日上午 | | 地点 | 公司会议室 | | 上市公司接待人 | 董事会秘书：梁路芳 | | 员姓名 | 证券事务代表：潘晨曦 | | | 1、公司 2025 年的工作重点和目标是什么？在客户拓展及新业 | | | 务开发上有哪些布局？ | | | 答：公司将积极围绕 2025 年度经营方针"降本增效 全员共担共 | | | 享，高效服务 获取市场机会，苦练内功 营造竞争优势"来制定工作 | | | 目标，推动公司稳步发展。同时，公司积极在海外市场进行布局，现 | | | 已在泰国设立公司，筹建海外生产基地，进一步加快全球化步伐，为 | | 投资者关系活动 | 公司可持续发展 ...

Group 1 - Gree Electric's GMV9 Zhiyue multi-split air conditioning unit is the first AI multi-split unit in the industry designed with energy efficiency as the control target, achieving an average energy saving rate of 25% through real-time AI energy-saving control strategies [1] - The GMV9 Zhiyue multi-split unit is recognized as an important achievement in promoting the green transformation of the industry, with its technology reaching "international leading" level as certified by a panel of experts [1] - The launch of the GMV9 Zhiyue multi-split unit signifies Gree Electric's commitment to advancing the air conditioning industry towards a more efficient, greener, and smarter phase [1] Group 2 - Gree's "Zero Carbon Source" photovoltaic storage direct drive air conditioning system integrates photovoltaic power generation, energy storage, direct current distribution, and flexible electricity usage, achieving a photovoltaic direct drive utilization rate of 99.06% [2] - This system is widely applicable in public buildings, factories, venues, schools, hotels, hospitals, and commercial complexes, and has served over 35 countries and regions globally [2]

【环球网科技报道 记者 冯超男】"关于新投产的拖车冷藏机组，属于制冷领域配套设备范畴，产品名称LEGEND，作为冷王旗舰产品系列，专为超长款拖车 设计，聚焦长途运输及大体量货载场景客户的需求。"近日，特灵科技亚太区副总裁凌寒向环球网等一众媒体介绍公司新产品。 值得一提的是，作为全球温控系统领域的创新先锋，特灵科技旗下战略品牌冷王于今年4月初宣布，首条国产化拖车冷藏机组产线在苏州吴江智能新工厂正 式投产。该产线专为冷王亚太区自主研发的旗舰产品LEGEND系列打造。 新品具备三大特点 首单客户来自农业领域 基于对市场考量，冷王推出了LEGEND系列。新产品主要基于非常成熟的欧洲产品，结合国内市场对产品的要求研发而成，具备精准温控、高效节能和智能 运维三大特点。特别是精准温控方面，关键在于独立气流控制技术，能够使长达十几米的拖车车厢气流强劲稳定，保证车厢温度一致性。此外，独立控制系 统不会受到车辆其他发动机的影响，即使车辆停靠休息，冷藏机组也能独立工作，确保冷链运输的恒温完整性。 不仅如此，高效节能方面，特灵科技在LEGEND系列上首创了"三合一"电机技术，将多个部件集成化，减少了27%的零件数量。更少的零件简化了 ...

Core Viewpoint - The company reported significant revenue and profit growth for FY2024 and Q1 2025, driven by rising prices of refrigerants and improved industry dynamics [1][2][3]. Financial Performance - For FY2024, the company achieved total revenue of 4.04 billion yuan, a year-on-year increase of 21.17%, and a net profit attributable to shareholders of 779 million yuan, up 178.40% [1]. - In Q4 2024, total revenue reached 1 billion yuan, reflecting a year-on-year increase of 37.98% and a quarter-on-quarter increase of 0.10% [1]. - For Q1 2025, total revenue was 1.21 billion yuan, a year-on-year increase of 26.42% and a quarter-on-quarter increase of 21.17% [1]. Product Pricing and Sales - The average selling price of refrigerants increased significantly, with FY2024 average price at 26,100 yuan/ton, up 28.17% year-on-year, and Q1 2025 average price at 37,400 yuan/ton, up 57% year-on-year [2]. - The external sales volume for refrigerants in FY2024 was 125,400 tons, a slight increase of 1.7% year-on-year, while Q1 2025 saw a decrease in sales volume to 27,100 tons, down 16.1% year-on-year [2]. Industry Trends - The refrigerant market is experiencing upward pricing trends due to supply constraints and improved competitive dynamics, with expectations for continued price increases into 2025 [3]. - As of April 28, 2025, the domestic market prices for key refrigerants R22, R32, R125, and R134a have increased by 9.1%, 12.8%, 7.1%, and 10.6% respectively since January 2, 2025 [3]. Strategic Developments - The company is actively enhancing its integrated supply chain, with several projects underway, including lithium hexafluorophosphate production and fluoropolymer projects, which are in various stages of completion [4]. - The company aims to leverage its position as a leading refrigerant manufacturer to capitalize on the ongoing upcycle in the refrigerant market, with projected net profits for 2025-2027 expected to grow significantly [4].

Core Viewpoint - Shun'an Environment reported a strong Q1 performance with revenue of 3.02 billion yuan, a year-on-year increase of 15.0%, and a net profit attributable to shareholders of 220 million yuan, up 4.3% year-on-year, driven by the old-for-new subsidy policy stimulating domestic air conditioning sales [1][2] Group 1: Financial Performance - Q1 revenue reached 3.02 billion yuan, reflecting a 15.0% year-on-year growth [1] - Net profit attributable to shareholders was 220 million yuan, representing a 4.3% year-on-year increase [1] - The company's net profit margin for Q1 was 7.2%, down 0.7 percentage points year-on-year, primarily due to rising copper prices [2] Group 2: Market Dynamics - The old-for-new subsidy policy has positively impacted air conditioning sales, leading to increased demand for upstream valve components [1] - Industry sales data shows that the sales of key components like shut-off valves, four-way valves, and electronic expansion valves increased by 7.1%, 7.5%, and 14.4% year-on-year, respectively [1] - Looking ahead, the combination of national subsidy policies and the peak season for air conditioning is expected to further stimulate sales performance [1] Group 3: Operational Efficiency - Q1 operating cash flow net amount was 150 million yuan, a significant year-on-year increase of 118.4% [2] - The company managed to reduce cash payments for goods and services by 18.2% year-on-year, while cash received from sales increased by 1.0% [2] - The company's cash balance at the end of the period was 2.9 billion yuan, up 7.4% year-on-year, indicating a strong liquidity position [2] Group 4: Future Outlook - The company is expected to continue its rapid revenue growth, with projections for EPS of 1.05, 1.17, and 1.35 yuan for 2025 to 2027 [2] - The company is actively expanding into high-margin commercial refrigeration components and automotive thermal management businesses, which is anticipated to improve profitability [2] - A target price of 15.68 yuan is set based on a 15 times dynamic price-to-earnings ratio for 2025 [2]

| 指数 | 收盘 | | 涨跌（％） | | | --- | --- | --- | --- | --- | | 名称 | （点） | 1 日 | 5 日 | 1 月 | | 上证指数 | 3288 | -0.2 | -1.8 | -0.09 | | | | | 8 | | | 深证综指 | 1898 | -0.9 | -6.3 | -0.68 | | 风格指数 | 昨日表现 | 1 个月表现 | 6 个月表 | | --- | --- | --- | --- | | | （％） | （％） | 现（％） | | 大盘指数 | -0.06 | -3.09 | -3.93 | | 中盘指数 | -0.6 | -6.26 | -8.52 | | 小盘指数 | -0.85 | -6.2 | -2.74 | | 行业涨幅 | 昨日涨 | 1 个月涨 | 6 个月涨 | | 普钢Ⅱ | 1.64 | -3.29 | 2.87 | | 游戏Ⅱ | 1.3 | -4.5 | 2.38 | | 城商行Ⅱ | 1.24 | 3.41 | 10.11 | | 白色家电 | 1.07 | -3.32 | -4.88 | | 农商 ...

Core Insights - The 2025 China Refrigeration Exhibition showcased significant advancements in the refrigeration and air conditioning industry, with a record scale and participation from nearly 1,200 exhibitors from 32 countries, indicating a growing interest from foreign buyers [1][2] - The industry is transitioning from "scale expansion" to "quality improvement," driven by global energy transformation and AI technology, positioning China as a leader in intelligent manufacturing [1][6] Industry Trends - The exhibition highlighted the increasing popularity of heat pumps and cold chain equipment among overseas buyers, reflecting a shift in demand towards energy-efficient technologies [2] - Key technologies such as heat pump systems, data center cooling, and intelligent equipment are emerging as industry highlights, with companies making breakthroughs in clean heating and energy storage [3][5] Technological Innovations - Qingdao Beiyang Technology introduced a high-temperature heat pump system capable of reaching water temperatures of 99°C, addressing industrial high-temperature needs and marking a significant technological breakthrough [4] - Haier Smart Home showcased the world's first gas suspension heat pump centrifugal unit, which can reduce maintenance costs and achieve a 30% energy saving through AI technology [4] Market Dynamics - The heat pump market in China is projected to exceed 100 billion yuan by 2025, with specific segments like photovoltaic heat pumps expected to grow at an annual rate of over 50% [5] - The cold chain market is rapidly evolving, driven by demand from fresh e-commerce and pharmaceuticals, although challenges such as fragmentation remain [5][6] International Expansion - Companies are increasingly focusing on international markets, with strategies including acquiring European heat pump firms and establishing production bases in countries like Brazil and Indonesia to mitigate tariff risks [7][8] - The 2025 China Refrigeration Exhibition plans to set up overseas sub-exhibitions, starting in Saudi Arabia, to tap into the growing construction market in the Middle East and Southeast Asia [8]

Summary of Conference Call Notes Company and Industry Involved - **Company**: 巨化股份 (Juhua Co., Ltd.) - **Industry**: Refrigeration and Air Conditioning Industry Key Points and Arguments Market Demand and Performance - The number of visitors at the 2025 Refrigeration Exhibition has increased, indicating strong domestic and foreign demand, which is expected to drive company performance growth this year [2][4] - The Chinese air conditioning industry benefits from domestic economic recovery, global warming, and the Belt and Road Initiative, with significant export potential, especially in markets with low air conditioning penetration like India [2][7] Product Development and Opportunities - The fourth-generation refrigerants are maturing, with new projects in Gansu signaling a large release of domestic capacity that meets environmental standards and market demand, presenting growth opportunities for related companies [2][10] - The exit of 3M from the fluorinated materials market creates opportunities for the fluorinated refrigerant market, with Juhua establishing a joint venture for commercial promotion and focusing on semiconductor fluids and high-end fluorinated oils [2][28] Regulatory Environment - The national quota management mechanism requires a 10% reduction in application volume by 2029, necessitating strict control of production quotas while considering domestic and international market demands and environmental requirements [2][15] Market Trends and Insights - Genuine market research should focus on current market demands and trends, such as transparent initial installation market data, increasing production volumes, and the impact of weather on consumer markets, which may indicate strong annual performance for companies like Juhua [2][16] - The air conditioning industry faces challenges from a declining real estate market but also has significant export potential due to the Belt and Road Initiative and increasing demand from global warming [2][8] Future Projections - The industry is expected to see a significant increase in fourth-generation refrigerant production capacity, with a projected capacity of 35,000 tons by 2029 [2][11] - Companies must consider long-term planning and adapt to technological changes while maintaining current operations and focusing on innovation and patent development to secure competitive advantages [2][20] Price Dynamics - The price fluctuations in the refrigerant market are primarily influenced by supply and demand dynamics, with significant price increases expected in 2025 due to high demand and supply shortages [2][21][22] Strategic Planning - Juhua has a clear strategic plan for R&D and innovation, focusing on fluorinated materials and new refrigerants, while also addressing potential patent restrictions and ensuring a competitive edge through technological advancements [2][29][30] Industry Competitiveness - The Chinese chemical industry has made significant progress from a "copying" model to one of independent innovation, with the potential to surpass international leaders in certain areas through technology introduction and self-research [2][31] Economic Outlook - The overall economic environment in 2025 is expected to be stable, with positive export conditions and a focus on safety and industry realities, supporting future growth [2][32]