Group 1: B2B Market Strategy - The company has established a differentiated product matrix, such as the flexible 360-degree anti-puncture gloves, and is advancing business development through precise penetration strategies, with customer expansion progress meeting expectations [2] - The company aims to enhance its professional service capabilities in the B2B industrial market, driven by large application scenario development and brand building [2] Group 2: B2B Business Progress - The company is optimizing resource allocation and has set up a product display center to further enhance service capabilities, focusing on personalized customer needs and providing customized solutions [2] - Partnerships have been established with leading clients such as TEMU Industrial Packaging and HexArmor, with plans to deepen industry layout in the future [2] Group 3: Production Capacity and Supply Chain - Core products like safety gloves have sufficient production capacity, and fundraising investment projects will be implemented as planned without substantial production bottlenecks [3] - The company independently controls key technology processes, such as nanoparticle synthesis, to improve efficiency through specialized division of labor [3] Group 4: Outdoor Product Line Development - The tent series products have gained market recognition due to their airtightness, portability, and sunshade temperature control features, with plans to increase R&D investment to maintain technological leadership [3] Group 5: Trade Risk Mitigation - Revenue from the U.S. market is limited, making the impact controllable; the company will collaborate with clients to address tariff challenges and enhance risk resistance through innovation [3] Group 6: Future Performance Planning - The company's operations are in line with expectations, using the public listing as an opportunity to promote strategic upgrades, focusing on high-quality development and investor returns [3]

Group 1 - The core viewpoint is that Dongfang Marathon recently conducted research on Henghui Security, indicating a stable and positive operational status with expected orders in hand [1] - Henghui Security is actively advancing the construction of its factory in Vietnam, planning to start trial production by the end of June and deliver the first batch of orders in July [1] - The company has developed multiple robotic dexterous hand tendon testing samples, achieving expected key technical indicators and obtaining invention patent authorization [1] Group 2 - The first phase of the annual production project for 110,000 tons of biodegradable polyester rubber has commenced construction with a capacity of 10,000 tons, expected to reach mass production by the end of 2025 [1] - Henghui Security has established a global sales network with nearly 30 overseas sales team members covering multiple international markets [1] - Dongfang Marathon Investment Management Company, established in 2004, is one of the early explorers in China's value investment field, with a mature value investment system and a deep understanding of the industry [2]

Core Viewpoint - The company has announced its 2024 annual profit distribution plan, which includes a cash dividend of 1.5 RMB per 10 shares, totaling approximately 23.56 million RMB, with no stock dividends or capital reserve transfers [2][5]. Group 1: Profit Distribution Details - The total share capital of the company as of April 18, 2025, is 158,626,630 shares, excluding repurchased shares [2]. - The actual cash dividend amount is calculated based on the shares eligible for distribution, which is 156,925,027 shares after excluding 1,701,711 repurchased shares [1][2]. - The cash dividend per share, after adjusting for the total share capital, is approximately 0.1485258 RMB per share [1][2]. Group 2: Rights and Dates - The record date for the rights distribution is set for May 29, 2025, and the ex-dividend date is May 30, 2025 [3]. - The distribution will be directly credited to shareholders' accounts through their custodial securities companies [4]. Group 3: Adjustments and Regulations - The company will adjust the conversion price of its convertible bonds from 18.26 RMB to 18.11 RMB following the rights distribution [5]. - The company has committed to maintaining a minimum selling price for shares post-distribution, which will be adjusted accordingly [4][5].

事件：公司发布2024年年度报告。2024年，公司实现营收12.7亿元，同比 +29.95%；归母净利润1.17亿 元，同比+10.13%；扣非归每净利润0.93亿元，同比+13.2%。24Q4，公司实现营收3.98亿元，同比 +41.36%；归母净利润0.22亿元，同比+79.49%；扣非归母净利润0.19亿元，同比+90.98%。毛利率下降 拖累扣非归母净利率表现材料成本大幅提升，导致毛利率受损。2024年，公司综合毛利率为22.03%， 同比-3.11pct。24Q4，单季毛利率为15.8%，同比-5.28pct，环比-9.25pct 其中，功能性安防手套24年毛利 率为22.34%，同比-3.26pct，主要因为营业成本中的直接材料成本大幅增长。 新材料布局稳步推进，超高分子量聚乙烯纤维新产能即将落地。公司深化产能扩张战略，规划新增12， 000吨超高分子量聚乙烯纤维产能。其中，一期 4,800吨预计将于2025年9月实现首批产能释放。公司积 极开拓新型应用场景，如超高强防弹纤维制品、风电叶片、机器人灵巧绳材料、机器人外壳硬性材质替 代应用等，未来有望实现增量。此外，公司布局"年产11万吨生物可降解聚 ...

Group 1 - The 108th China International Labor Protection Products Expo was held in Shanghai, with nearly 300 security enterprises from Weifang, Shandong participating [1] - Highmi, known as a city for safety protection products and shoe manufacturing, has over 2,300 security product businesses and 67 large-scale enterprises, producing over 500 types of products [1] - The annual production capacity includes 4 billion pairs of protective gloves and 200 million pairs of safety shoes, with exports to over 120 countries and regions, accounting for one-third of the national capacity [1] Group 2 - Highmi has implemented various policies to support the security industry, including measures to strengthen industrial clusters and promote high-quality development [2] - In 2024, the industrial output value of large-scale enterprises in the security products industry in Highmi is projected to reach 7.16 billion yuan, with main business income of 6.91 billion yuan and profit of 510 million yuan, representing year-on-year growth of 14.3%, 9.7%, and 6.4% respectively [2]