Core Viewpoint - Bekaert is navigating challenging market conditions due to tariffs and trade tensions, successfully passing on costs to customers while maintaining a strong balance sheet and stable sales expectations for 2025 [1][5]. Financial Highlights - Q1 2025 consolidated sales were €991 million, a decrease of 3% compared to Q1 2024, driven by a 1% decline in like-for-like volumes (€12 million), a 1% reduction from price-mix (€11 million), and a 2% pricing impact from lower input costs (€23 million) [4]. - Sales from joint ventures (non-consolidated) amounted to €214 million, down 2% from Q1 2024 [4]. - A proposed dividend of €1.90 per share at the AGM and an ongoing two-year €200 million share buyback program, with approximately €50 million purchased to date [4]. Operational and Strategic Highlights - The company has been able to mitigate tariff impacts through local sourcing and production, with minimal financial impact from tariffs to date [1][5]. - The Rubber Reinforcement segment showed strong performance in China, offsetting volume decreases in Europe and North America, while the Steel Wire Solutions segment reported solid sales performance [4]. - Specialty Businesses faced project delays in flooring in North America, but adoption is accelerating in growth markets [4]. Tariff Impacts - The introduction of tariffs has created significant uncertainty, leading to delayed orders and investment decisions from customers, particularly in the construction segment [2]. - The long-term effects of tariffs on end market demand and trade flows remain uncertain and could be material [2]. Outlook - The difficult market conditions from the second half of 2024 are expected to persist into Q1 2025, with ongoing uncertainty around tariffs and the global macroeconomic outlook [3]. - The company anticipates stable sales and EBIT margins for the full year 2025 compared to 2024, with a more balanced performance expected between the first and second halves of the year [5].

Group 1 - Three companies withdrew their IPO applications last week, including one from the Shanghai Stock Exchange, one from the Shenzhen Stock Exchange, and one from the Beijing Stock Exchange [1] - The companies that withdrew their applications are Wuxi Yelong Precision Machinery Co., Ltd., Shenzhen Haobo Window Control Technology Co., Ltd., and Shenzhen Konghui Intelligent Co., Ltd. [2] Group 2 - Wuxi Yelong Precision Machinery Co., Ltd. specializes in the R&D, production, and sales of key components for automotive turbochargers, with main products including turbo shells and precision components [3] - The company has seen total assets increase from 1,229.13 million yuan in 2020 to 1,305.82 million yuan in 2022, while the net profit remained relatively stable around 103.20 million yuan [4] - The actual controllers of the company are sisters Wu Yunjiao and Wu Yunya, who hold a combined 98.90% of the shares, raising concerns about management clarity [5] Group 3 - Shenzhen Haobo Window Control Technology Co., Ltd. focuses on the R&D and production of system window control devices and solutions, with a significant emphasis on technological innovation [6] - The company reported total assets of 90.78 million yuan in June 2024, up from 47.05 million yuan in 2021, indicating strong growth despite operating in a challenging real estate market [7][8] Group 4 - Shenzhen Konghui Intelligent Co., Ltd. is engaged in the R&D, production, and sales of industrial automation control products, with applications in various high-tech fields [9] - The company reported a significant decline in net profit, with a 94.02% drop in its non-recurring net profit to 2.05 million yuan, indicating performance issues amid industry oversupply [10]

关于对外投资的进展公告 湖南泰嘉新材料科技股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整、没有虚假记载、误导性陈述或重大遗 漏。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002843 证券简称：泰嘉股份 公告编号：2025-035 一、对外投资概述 湖南泰嘉新材料科技股份有限公司（以下简称"公司"）于2024年12月18日召开第六届董事会第十四次会 议，审议通过了《关于增资全资子公司并通过其进行对外投资的议案》。为适应公司"战略突破、产品 领先、全球经营、组织驱动"的战略发展思路，进一步深化海外布局，完善全球供应链，提升公司全球 竞争力，公司拟使用自有资金或自筹资金增资全资子公司泰嘉新材（香港）有限公司（以下简称"香港 泰嘉"），并通过香港泰嘉进行对外投资，具体情况如下： 1、公司向全资子公司香港泰嘉增资合计不超过人民币10,000万元（具体金额以实际发生为准）； 2、香港泰嘉完成增资后，拟在泰国设立子公司（新设公司名称待定，最终以泰国公司注册机关核准信 息为准），投资建设泰国项目基地，开展锯切及相关业务。投资规模不超过人民币10,000万元，实际投 资金额以相关主 ...

Core Viewpoint - Parker New Material (605123) reported a decline in net profit and the controlling shareholder plans to reduce holdings due to personal needs [1] Group 1: Financial Performance - In 2024, Parker New Material achieved operating revenue of 3.213 billion yuan, a year-on-year decrease of 11.21% [1] - The net profit for 2024 was 264 million yuan, down 46.37% year-on-year [1] - The decline in performance was primarily attributed to reduced revenue from aerospace and petrochemical forgings [1] Group 2: Production and Sales - In 2024, the production volume of aerospace forgings was 3,763.44 tons, and the sales volume was 3,672.56 tons, representing year-on-year declines of 9.42% and 11% respectively [2] - The production volume of petrochemical forgings was 34,700 tons, with a sales volume of 36,500 tons, showing year-on-year declines of 15.51% and 17.84% respectively [2] Group 3: Strategic Adjustments - The company has recognized the decline in aerospace business and adjusted its fundraising projects accordingly [2] - In October of last year, Parker New Material announced a change in its previously planned fundraising project from "Intelligent Production Line for Special Alloy Structural Components for Aerospace" to "Intelligent Production Line for Large Special Alloy Forgings for High-end Equipment" [2][3] - The new project will be managed by the company's wholly-owned subsidiary, Wuxi Paixin Aerospace Technology Co., Ltd., with a total investment of 785 million yuan, of which 500 million yuan will come from raised funds [2][3] Group 4: Market Demand and Challenges - The company noted that the demand for forgings in sectors such as wind power, nuclear power, aerospace, and deep-sea equipment has been significant, particularly for large-sized forgings [3] - The existing forging production lines are unable to fully meet market demand due to capacity and size limitations [3] - The decision to change the fundraising project was based on a comprehensive assessment of expected investment, market demand, industry trends, and anticipated economic benefits [3]

证券代码：300963 证券简称：中洲特材 编号：2025-001 Q9：高温合金和金属基复合材料行业技术更新换代较快，公 司如何跟踪和应对行业内的技术变革？ 公司及子公司均为国家高新技术企业，配置有专业的研 发部门及实验室。公司与上海交大材料学院联合组建了高端 金属特材及制品联合研究中心，公司十分重视技术研发及新 品开发，紧贴市场需求，积极应对行业内的技术变革。 Q10：江苏新中洲二期、三期项目已投产，新增产能是否已转 化为订单？ 公司正紧紧围绕装备优势精准定位，抓好市场开发，合 理做好生产要素配置，全力释放生产产能。江苏新中洲二期、 三期项目规划具有一定的前瞻性，目前部分新增产能已转化 为订单。 上海中洲特种合金材料股份有限公司 投资者关系活动记录表 | | ☑特定对象调研 □分析师会议 | | | | --- | --- | --- | --- | | 投资者关系活 | □媒体采访 ☑业绩说明会 | | | | 动类别 | □新闻发布会 □路演活动 | | | | | □现场参观 | | | | | （请文字说明其他活动内容） □其他 | | | | 参与单位名称 及人员姓名 | 第一场：特定对象调研 ...

Core Viewpoint - Wangli Security's high dividend payout raises concerns about its long-term capital accumulation ability, as the company has a cash dividend payout rate exceeding its net profit for several years [1][2] Group 1: Financial Performance - Wangli Security plans to raise up to 300 million yuan for its smart window project, with a net dividend payout of 308 million yuan from 2022 to 2024, despite a total net profit of only 150 million yuan during the same period [1] - The company reported a net loss of 43 million yuan in 2022 but still distributed 88 million yuan in dividends, leading to a payout ratio of 241.28% in 2023, which significantly exceeds its net profit [1][2] Group 2: Governance and Shareholder Rights - The company's strategy of high dividends followed by a fundraising plan has been criticized as neglecting the interests of minority shareholders, as the top ten shareholders hold over 70% of the shares [2] - The disparity between dividend payments and R&D investment, which was only 78 million yuan in 2024, raises concerns about the company's long-term competitiveness [2] Group 3: Future Outlook - The success of Wangli Security's fundraising efforts will depend on the efficiency of the smart window project's capacity and technological breakthroughs in its smart lock business [2] - Investors are advised to monitor the growth rate of smart lock revenue in 2025 and the gross margin improvement in the Central China region, as the traditional lock industry approaches saturation [2]

5月13日，江苏天工科技股份有限公司(证券简称：天工股份，证券代码：920068)成功登陆北交所，全景网对上市仪式进行了全程直播。江苏省镇江市委常 委、副市长周凯，江苏天工科技股份有限公司董事长朱泽峰，申万宏源证券（000562）有限公司执行委员会成员、投资银行业务委员会主任张翼飞，南京钢 铁股份有限公司董事长黄一新等领导嘉宾齐聚一堂，共同见证这一历史性时刻，并发表了精彩致辞。 申万宏源证券有限公司执行委员会成员、投资银行业务委员会主任张翼飞在致辞中，回顾了与天工股份多年来的合作历程。他表示，申万宏源见证了天工股 份在行业中的快速发展和不断突破。我们深知，这次上市不仅仅是企业发展的新阶段，更是天工股份持续创新、迈向更高目标的新起点。在未来的发展中， 我们相信天工股份能够继续充分利用资本市场的优势，优化资源配置，提升核心竞争力。 南京钢铁股份有限公司董事长黄一新在致辞中，表达了对天工股份未来的坚定信心。他表示，站在北交所这一全新的起点上，南钢集团将以"全方位资本赋 能、全链条产业协同、全要素资源支持"为有力抓手，全力支持天工股份做强主业、做大产业。助力天工在技术创新、高端制造、全球布局等方面实现新的 突破，让" ...

Group 1 - The major shareholder, Wuxi Guolian Industrial Upgrade Investment Center, plans to reduce its stake in Longda Co., Ltd. by up to 2,468,571 shares, which is no more than 1% of the total share capital [1] - As of the announcement date, Guolian holds 21,556,321 shares, accounting for 8.73% of the total share capital [1] - The reduction will occur through centralized bidding within three months after the announcement, with a limit of 1% of total shares in any consecutive 90-day period [1] Group 2 - Longda Co., Ltd. was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on July 22, 2022, with an initial offering price of 39.08 yuan [3] - The company raised a total of 241,179.43 million yuan from its initial public offering, with a net amount of 220,127.16 million yuan, exceeding the original plan by 120,127.16 million yuan [3] - The funds raised are intended for a technical transformation project to increase the annual production of aviation-grade high-temperature alloys by 10,000 tons, a new research and development center, and to supplement working capital [3]

Core Viewpoint - Wangli Security (605268.SH) plans to raise up to 30 million yuan through a simplified procedure for a specific group of investors, with the funds allocated entirely for the smart window project of Hubei Wangli Security Products Co., Ltd [1][2]. Group 1: Fundraising Details - The total investment for the smart window project is approximately 44.11 million yuan, with the company aiming to use 30 million yuan from the fundraising [2]. - The issuance will be conducted as ordinary shares (A-shares) with a par value of 1.00 yuan per share, targeting no more than 35 specific investors [2]. - The final issuance price will be set at no less than 80% of the average trading price over the 20 trading days prior to the pricing date [2]. Group 2: Shareholding Structure - As of the announcement date, the controlling shareholder is Wangli Group, holding 19.37 million shares (43.11% ownership), while the actual controllers are Wang Yuebin, Chen Xiaojun, and Wang Chen, collectively controlling 77.19% of the company [3]. - The shareholding ratio of the actual controllers will decrease post-issuance, but they will remain the actual controllers of the company [3]. Group 3: Financial Performance - For the first quarter of 2025, the company reported revenue of 494 million yuan, a year-on-year increase of 13.59%, and a net profit attributable to shareholders of 23.80 million yuan, up 47.67% [4]. - The net profit after excluding non-recurring gains and losses was 12.48 million yuan, reflecting an 80.18% year-on-year growth [4].

Company Overview - Suzhou Ruima Precision Industrial Group Co., Ltd. was established as a joint-stock company on November 20, 2017, after the transformation from Suzhou Ruima Metal Forming Co., Ltd. [1] - The company's registered capital is RMB 70.5 million, with a net asset of RMB 168,139,050.60 as of the end of the reporting period [1][6]. Shareholding Structure - The major shareholders include Chen Xiaomin (80.38%), Weng Rongrong (7.62%), and Suzhou Industrial Park Zhongquanxin Investment Enterprise (Limited Partnership) (7.30%) [1]. - The total share capital after the initial public offering (IPO) is RMB 100 million, with 25 million shares issued at a par value of RMB 1.00 per share [2]. Stock Incentive Plans - The company approved a stock option incentive plan, allowing for a total of 478,200 stock options to be exercised by 39 eligible participants, with the first exercise condition met [3]. - The total share capital increased to 120,652,200 shares after the first exercise period, with additional stock options of 174,000 shares to be exercised by 6 participants in December 2024 [4][5]. Business Activities - The main business activities include the research, production, and sales of precision metal stamping structural parts, fasteners, precision molds, automotive seat harnesses, and components for air suspension systems [6]. Financial Reporting - The financial statements are prepared based on the going concern principle and comply with the relevant accounting standards [6][7]. - The company assesses its ability to continue as a going concern and has not identified any factors that would affect this ability [6]. Accounting Policies - The company follows important accounting policies and estimates as per the enterprise accounting standards, ensuring that the financial statements reflect a true and complete view of its financial position and performance [6][8]. - The accounting year runs from January 1 to December 31, with the functional currency being Renminbi [7]. Financial Instruments - Financial assets are classified based on the business model and cash flow characteristics, including those measured at amortized cost and those measured at fair value [27][30]. - The company recognizes financial liabilities based on their classification, including those measured at fair value and those measured at amortized cost [30].