Core Viewpoint - Over the past 30 years, Dongfang Yuhong has transformed from a startup into a global benchmark in the construction waterproofing industry, driven by innovation and technology, and has contributed significantly to the development of China's waterproofing sector while providing "Chinese solutions" to the world [1][9]. Group 1: Innovation and Technology - Dongfang Yuhong has established a seamless connection between laboratory innovations and construction site applications, exemplified by winning the National Science and Technology Progress Award in 2019 for its advanced waterproofing technology [1][3]. - The company has built a comprehensive innovation system covering "basic research—process equipment—application technology—engineering construction," with global research collaborations and key laboratories enhancing its technological footprint [5][6]. Group 2: Product Development and Solutions - The launch of the ultra-wide TPO waterproof membrane in 2024 addresses high-pressure and deformation challenges in major engineering projects, marking a significant advancement in China's water conservancy construction [5][6]. - Dongfang Yuhong's products, such as the visual HDPE self-adhesive waterproof membrane and the innovative non-curing rubber asphalt waterproof coating, demonstrate a commitment to solving industry pain points and enhancing construction efficiency [6][7]. Group 3: Future Vision and Commitment - The company's mission has evolved to provide ultimate protection for buildings, focusing on extreme condition materials and green intelligent manufacturing through partnerships with leading universities [7][9]. - Dongfang Yuhong aims to continue its legacy of innovation, contributing to the "dual carbon" goals and new infrastructure initiatives, while positioning itself as a leader in the global waterproofing market [9].

Group 1 - The controlling shareholder and actual controller of Dongfang Yuhong, Li Weiguo, plans to reduce his shareholding by up to 46,382,189 shares, which is no more than 1.94% of the total share capital [1] - Li Weiguo currently holds 530,802,887 shares, accounting for 22.22% of the company's total share capital [1] - The share reduction is scheduled to occur within three months starting from July 24, 2025, following a 15 trading day period after the announcement [1] Group 2 - Dongfang Yuhong's stock price has fallen below the issuance price from the 2021 private placement [3] - In 2021, the company raised approximately RMB 7.99 billion through a private placement of 175,824,175 shares at a price of RMB 45.50 per share [2] - After deducting fees, the actual net amount raised was approximately RMB 7.99 billion [2]

Group 1 - The core point of the news is that the controlling shareholder of Dongfang Yuhong, Li Weiguo, plans to reduce his stake by up to 1.94% of the company's total shares, which has attracted market attention [1] - As of the announcement date, Li Weiguo holds 530,802,887 shares, representing 22.22% of the total share capital, while his associate Li Xingguo holds 10,909,355 shares, accounting for 0.46%, together totaling 22.68% [1] - The planned reduction will occur within three months starting from July 24, 2025, and will involve a maximum of 46,382,189 shares, with the selling price determined by the market price at the time of the sale [1] Group 2 - Dongfang Yuhong's 2024 annual report indicates that the company's operating revenue was 28.06 billion yuan, a year-on-year decrease of 14.5%, and the net profit attributable to shareholders was 108 million yuan, down 95.2% [2] - The first quarter report for 2025 shows operating revenue of 5.95 billion yuan, a year-on-year decline of 16.7%, with a net profit attributable to shareholders of 192 million yuan, down 44.7% [2] - The company's operating cash flow net amount for 2024 was 3.457 billion yuan, an increase of 64.4%, while for the first quarter of 2025, it reported a negative cash flow of 813 million yuan, but this was a 57.0% increase year-on-year [2]

Core Viewpoint - The credit rating agency maintains the long-term credit rating of Keshun Waterproof Technology Co., Ltd. at AA, with a stable outlook, despite challenges in the waterproof materials industry due to reduced downstream demand and increased competition [1][3]. Company Overview - Keshun Waterproof Technology Co., Ltd. is a leading manufacturer and seller of waterproof materials in China, with a production capacity of 317 million square meters of waterproof membranes and 500,000 tons of waterproof coatings as of the end of 2024 [4][10]. - The company has a strong brand recognition and technical advantage, being ranked second among the top 500 preferred suppliers in the waterproof materials category by the China Real Estate Association for 12 consecutive years [21][22]. Financial Performance - In 2024, the company achieved an operating revenue of 6.829 billion yuan, with a profit of 55 million yuan, marking a turnaround from previous losses [10][11]. - The company's total assets reached 14.044 billion yuan, with total liabilities of 5.769 billion yuan, resulting in a debt-to-asset ratio of 64.55% [6][11]. - The company has a significant short-term debt burden, with short-term liabilities accounting for 54.53% of total debt [6]. Industry Analysis - The waterproof materials industry is facing a downturn in demand due to a decline in housing construction area, which fell by 12.7% year-on-year in 2024 [19]. - The industry is experiencing increased concentration as smaller companies exit the market, leading to a more competitive landscape for larger firms [4][20]. - The price of upstream raw materials, particularly asphalt, has been on a downward trend, which may positively impact the profit margins of waterproof material manufacturers [17][20]. Future Outlook - The company is expected to maintain its leading position in the industry by capturing market share from smaller competitors that are exiting the market [4][20]. - The introduction of new regulations aimed at improving the quality of waterproofing in construction is anticipated to boost future demand for high-quality waterproof materials [20]. - The company plans to enhance its production capacity through investment projects, which are expected to significantly increase output once operational [4][10].

云南昆明，正在举行的第9届中国—南亚博览会展馆内热闹非凡。走进1号展馆，扑面而来的是科技与创 新交织的场景——数智人互动、AI问诊、机器狗舞蹈等精彩纷呈。10家专精特新"小巨人"企业集中呈现 行业前沿成果与未来趋势，吸引到场的外国客商停住脚步，他们对"中国智造"表现出浓厚的兴趣。 云南无线电有限公司在南博会迎来首秀，其推出的智能中医健康检测仪成为焦点，吸引外商体验。基于 指尖脉搏波检测技术，检测仪实现了中医把脉的标准化、数字化和可视化，呈现5项中医健康指标和16 项西医风险预测，人工智能根据把脉结果提供药食、理疗按摩、运动等多种健康管理建议。 "在南博会上，专精特新'小巨人'企业向世界传递了中国科技创新的活力与潜力，他们带来的创新技术 与产品成为连接中外合作的新桥梁。"云南省工业和信息化厅中小企业处处长陈万春说。（记者丁怡 全、吴闫） 作为L4级无人配送行业的专精特新"小巨人"企业，新石器无人车携旗下X3、X6两款物流配送车型亮相 南博会。 企业现场负责人张模娇介绍，截至目前新石器无人车已经在全球15个国家、超250个城市累计交付部署 无人车超5000辆，自动驾驶行驶里程累计超过4200万公里。X3可以让末端 ...

Group 1 - The tax authorities in Wuwei City are focusing on the tax needs of enterprises, enhancing the implementation of tax benefits, optimizing tax services, and providing support to alleviate difficulties for businesses, thereby promoting high-quality development in manufacturing [1] - Dahua Water Saving Technology Co., Ltd. has benefited from tax policies such as R&D expense deductions and VAT exemptions, resulting in a total tax reduction of 3.16 million yuan since 2025, easing financial pressure on technology development and product upgrades [2] - The tax authorities are collecting feedback from enterprises regarding policy implementation and tax services, creating tailored support for key enterprises based on their asset size and operational scale, and providing targeted guidance to help them enjoy tax benefits [2] Group 2 - The Minqin County tax bureau is conducting regular assessments of key enterprises to identify tax risks and assist in compliance, while also providing training and resources to help businesses manage tax compliance effectively [3] - The Zhongche Wuwei Minqin New Energy Equipment Manufacturing Project is a significant initiative aimed at transforming the local new energy industry and driving economic growth, creating a complete industrial chain for wind, solar, and storage equipment [3] - The company emphasizes the importance of compliance and social responsibility, supported by the tax authorities through tailored risk prevention resources and regular tax risk assessments [3] Group 3 - Gansu Yubang Waterproof Materials Co., Ltd. is a specialized enterprise focusing on R&D and production, benefiting from tax policies that enhance cash flow and support capacity expansion [4] - The Tianzhu County tax bureau is implementing personalized services for advanced manufacturing enterprises, ensuring they can access tax benefits without obstacles and addressing their specific needs through a grid-based service mechanism [4] - The company's management highlights the critical role of tax authority support in fostering innovation and maintaining a strong R&D focus, which has been instrumental in their growth and capacity expansion [4]

在建筑防水领域深耕二十余载的郑恩成先生,作为山东金隆防水科技股份有限公司总经理,始终以技术创 新驱动行业发展。继"沥青防水卷材烟气治理系统"等多项专利技术取得显著应用成效后,郑恩成不仅获 聘为两本国际期刊的编委,同时,其近期发表的三篇论文还先后被国内核心期刊收录,这些成就无疑进一步 巩固了其在建筑防水材料领域的领先地位。 创新突破: 核心技术破解行业痛点 在其近期发表的《某施工项目中水泥基渗透结晶型防水材料的应用》一文中,郑恩成将一种新型无机防 水材料——水泥基渗透结晶型防水材料应用到某施工项目中进行试验与分析,验证了该材料在地下结构 中的优异性能。这项研究为地下防水工程提供了可靠的技术支持,在理论上深化了对水泥基渗透结晶材 料防水机理的认识,在工程应用上具有重要的推广价值。郑恩成称,未来还将针对极端环境条件与材料的 长期性能开展更深入的研究,为复杂工程的防水施工提供更完善的解决方案。 持续创新,赋能建筑行业高质量发展 实践创新: 探索沥青防水卷材的多元应用 郑恩成的《沥青防水卷材在建筑防水中的应用研究》一文则详细阐述了沥青防水卷材在多种建筑结构中 的应用设计。其通过具体工程案例,展示了如何针对不同建筑特点和 ...

Core Viewpoint - The article highlights the significance of the "Rainwater Management System" in sponge city construction, emphasizing its role in optimizing urban rainwater runoff control through ecological elements like buildings, roads, green spaces, and water systems [1] Group 1: Technology and Innovation - The Dongfang Yuhong Taohuayuan Zero Slope Organized Drainage and Water Storage System supports the construction of resilient urban water ecosystems through innovative technology and quality [3] - This system has been recognized as a core product in the sponge city construction technology system and has been included in the first batch of the Ministry of Housing and Urban-Rural Development's directory of advanced applicable technologies and products for sponge city construction [5] - The system integrates various functions such as infiltration, retention, storage, purification, utilization, and drainage, effectively addressing issues like water seepage and leakage [7] Group 2: Application and Benefits - The system is designed to manage water resources in community green spaces, landscape water bodies, and public activity areas, creating a complete operational chain for rapid drainage, tiered purification, and recycling [9] - During rainfall, initial rainwater is filtered and stored in underground modules, which can then be used for irrigation, landscape replenishment, and municipal water needs, effectively replacing traditional water supply during peak irrigation periods [9] - The system enhances community flood control capabilities by safely draining excess rainwater during extreme weather events, ensuring the stability of residents' daily lives [9] Group 3: Smart Features and Sustainability - The system features intelligent detection capabilities, with sensors providing real-time feedback on rainfall intensity and water level changes, optimizing drainage paths and adjusting storage capacity dynamically [11] - Its modular design allows for flexible configuration to meet diverse needs in both flood-prone and drought-affected areas, demonstrating significant technical adaptability in new city construction and old city renovation [11] - The core components are made from high-performance composite materials, ensuring durability and low maintenance needs compared to traditional products, thus providing sustainable support for urban water management facilities [13] Group 4: Future Prospects - The Dongfang Yuhong Taohuayuan Zero Slope Organized Drainage and Water Storage System has become a key support for regional water ecological governance projects in Xiong'an New Area, with expectations for broader application in sponge city construction across more cities as technology evolves [15]

2025 年1 月7 日，凯伦股份发布公告，与苏州矽彩光电、苏州和彩、苏州源彩及陈显锋先生签订框架协 议，凯伦将以支付现金的方式购买目标公司不高于51%的股权，交易包括股权转让和股权收购两项事 宜，4 月28 日公告完成工商变更。凯伦股份在此次收购佳智彩的框架协议中签订业绩对赌协议，承诺佳 智彩在25-27 年累计扣非归母净利润不低于2.4 亿元。考虑到公司未来转型后具备较高业绩提升空间， 且主业有望触底后实现困境反转，同时公司收购佳智彩的面板检测设备业务有望放量、半导体检测设备 业务有望带来优异成长空间，首次覆盖给予"买入"评级。 凯伦股份：主业防水经营承压，转型检测设备元年凯伦股份原深耕防水材料业务，25 年转型显示面板 和半导体检测设备领域。股权结构相对分散，无单一绝对控股方，实控人及一致行动人持股占三四成。 公司有24 家参控股子公司，目前以苏州总部为中心，产能辐射全国。20 年及之前公司防水主业稳步增 长，21 年后经营承压，防水卷材业绩贡献收窄，防水涂料和施工贡献加大，24 年利润转亏至-5.4 亿 元。 测算凯伦股份防水业务总收入分别达24.27/25.18/26.29 亿元，同比分别+2%/+ ...

证券代码：300665 证券简称：飞鹿股 份债券代码：123052 债券简称：飞鹿 转债 株洲飞鹿高新材料技术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 | | --- | --- | | | ☐媒体采访 业绩说明会 | | 投资者关系活动类别 | ☐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） | | 参与单位名称及人员姓 | 广大A股投资者 | | 名 | | | 时间 | 2025年5月13日 15:00-17:00 | | 地点 | 价值在线（https://www.ir-online.cn/）网络互动 | | 上市公司接待人员姓名 | 董事长 章健嘉 | | | 董事兼总裁 范国栋 | | | 独立董事 唐有根 | | | 董事兼董事会秘书 易佳丽 | | | 财务总监 韩驭安 | | | 1、公司在轨道交通装备、新能源、民用建筑等各业 务领域2024年的市场拓展情况如何？未来有哪些重点布 局方向？ 2024年度，公司在各业务板块市场拓展如下：一是在 | | 投资者关系活动主要内 | 轨道交通领域， ...