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]

编号：2025-03 投资者关系 活动类别 □特定对象调研 □ 分析师会议 □ 媒体采访 √ 业绩说明会 □ 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 人员姓名 投资者网上提问 时间 2025 年 5 月 13 日下午 14:00~17:00 地点 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） 采用网络远程的方式召开业绩说明会 上市公司接待人 员姓名 财务总监胡佳超、董事会秘书王丹、证券事务代表王玉珍 投资者关系活动 主要内容介绍 1、中钨高新能享受海南相关政策吗？ 作为海南注册上市公司，公司非常关注海南自贸港建设相关 政策，并积极为自贸港建设作出贡献。公司成功入选海南海关"中 国外贸出口先导指数样本"，被评为海南上市公司协会优秀会员 单位。 2、公司在日常经营管理和加强市值管理方面的举措。 公司近几年面对市场竞争加剧、原材料上涨等多重不利因素 影响，坚持稳中求进，内抓精益，外拼市场，严控风险，各项经 营指标稳步提升。2024 年公司实现营业收入 147.43 亿元，较 2023 年增长 7.8%；实现归属于上市公司股东的净利 ...

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].

报告日期：2025 年 05 月 13 日 浙商早知道 2025 年 05 月 13 日 ：王禾 执业证书编号：S1230512110001 证券研究报告 | 浙商早知道 ：021-80105901 ：wanghe@stocke.com.cn 市场总览 重要推荐 【浙商汽车 刘巍】翔楼新材（301160）公司深度：国内精密冲压材料龙头，大力推进谐波柔轮材料国产替代—— 20250511 http://www.stocke.com.cn 1/3 请务必阅读正文之后的免责条款部分 大势：5 月 12 日上证指数上涨 0.82%，沪深 300 上涨 1.16%，科创 50 上涨 0.49%，中证 1000 上涨 1.4%，创业板 指上涨 2.63%，恒生指数上涨 2.98%。 行业：5 月 12 日表现最好的行业分别是国防军工（+4.8%)、电力设备（+2.69%)、机械设备（+2.24%)、非银金融 （+2.08%)、汽车（+1.91%)，表现最差的行业分别是农林牧渔（-0.49%)、医药生物（-0.27%)、公用事业（-0.26%)、 美容护理（-0.04%)、煤炭（+0.05%)。 资金：5 月 12 日全 ...

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].

珠海拾比佰彩图板股份有限公司 投资者关系活动记录表 证券代码：831768 证券简称：拾比佰 公告编号：2025-027 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 投资者关系活动类别 □特定对象调研 √业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 二、 投资者关系活动情况 活动时间：2025 年 5 月 9 日 活动地点：全景网"投资者关系互动平台"（http://ir.p5w.net） 参会单位及人员：通过网络方式参与公司 2024 年年度报告业绩说明会的投 资者 上市公司接待人员：董事长兼总经理杜国栋先生、副总经理兼财务总监田建 龙先生、董事会秘书陈红艳女士、保荐代表人翟晓东先生 三、 投资者关系活动主要内容 1 问题 1、结合行业现状、行业地位、与同行对比，客观展望一下公司的前景， 从公司未来新产品开拓和新领域开发方向进行畅述。 回复：尊敬的投资者，您好！在"双碳"目标的引领下，绿色环保的"辊涂" 工艺替代传统"喷涂"工艺速度加快，公司目前在细分行 ...

证券代码：000890 证券简称：法尔胜 江苏法尔胜股份有限公司 投资者关系活动记录表 编号：2025-035 回复：投资者您好，公司计划传统业务聚焦专业化，环保业务 向资源化、智慧化方向延伸，将环保业务转化为财务收益，反哺 传统业务转型。 11、 在金属制品业务中，公司如何提升产品的差异化竞争优 势以应对同质化竞争？ | 3、 您好，加大环保产业拓展具体将在哪些方面进行拓展，有 | | --- | | 没有具体的领域？ | | 回复：投资者您好，公司环保业务除原有核心垃圾渗滤液处 | | 理业务外，已成功拓展煤矿井高盐水处理、建筑垃圾分类处理等 | | 项目。 | | 4、 公司未来发展战略中，计划探索产业协同合作和并购重 | | 组，目前是否有潜在的合作对象或项目？ | | 回复：投资者您好，公司正积极推进中，如有相关进展会及时 | | 披露，后续请以公司发布的公告为准。 | | 5、 在金属制品业务中，公司产品的市场定价策略是怎样 | | 的？如何应对原材料价格波动对成本和定价的影响？ | | 回复：投资者您好，公司从2016年7月剥离了法尔胜特钢后产 | | 生关联销售，销售价格主要参考公司采购的原材 ...

证券之星消息，2025年5月10日永达股份（001239）发布公告称公司于2025年5月9日召开业绩说明会。 具体内容如下： 投资者提出的问题及公司回复情况 公司就投资者在本次说明会中提出的问题进行了回复：问：高管您好。请贵公司本期财务报告中，盈利 表现如何？谢谢。 答：尊敬的投资者，您好！公司财务情况请您查阅公司在指定媒体上披露的2024年年报及2025年一季 报。感谢您对公司的关注与支持！ 问：高管您好，请贵公司未来盈利增长的主要驱动因素有哪些？谢谢。 答：尊敬的投资者，您好！公司将继续深耕主营业务，持续实现公司高质量发展，加强研发创新、拓展 市场需求、优化成本控制，致力于持续提升经营业绩，深化投资者关系管理，积极报投资者，驱动公司 市值与股东报长期提升。2025年度第一季度营收同比增长170%，净利润同比增长14.94%。感谢您对公 司的关注与支持！ 3、请问今年公司风电业务景气度如何？是否有打算往人形机器人领域布局的计划？ 尊敬的投资者，您好！2025年风电行业景气度显著提升，风机价格企稳回升，产业链盈利有望修复，行 业将进入密集交付期，装机量有望迎来高速增长。公司仅有控股子公司江苏金源高端装备有限公 ...