Bagneux, 29 April 2025, Quadient (Euronext Paris: QDT) announces that it has filed its 2024 Universal Registration Document, in xHTML format, with the French Financial Markets Authority (Autorité des marchés financiers or “AMF”), on 28 April 2025. The 2024 Universal Registration Document notably includes: The 2024 annual financial report;The Board of Directors’ report on corporate governance;The description of the share buyback program;The reports from the statutory auditors;The management report including ...

Financial Performance - Honeywell's Q1 2025 adjusted EPS was $2.51, exceeding the guidance range of $2.15-$2.25[24] - Organic sales grew by 4%, driven by double-digit growth in commercial aftermarket, defense and space, and building solutions[24] - Segment margin remained flat at 23.0%, with expansion in Energy and Sustainability Solutions (ESS) and Building Automation (BA)[24] - Free cash flow reached $0.3 billion in Q1 2025[24] Guidance and Outlook - The company is raising its 2025 EPS guidance while considering the net impact of tariffs, mitigation actions, and global economic uncertainty[4] - Q2 2025 sales are projected to be between $9.8 billion and $10.1 billion, with organic growth of 1%-4%[27] - The adjusted EPS for Q2 2025 is expected to be $2.60-$2.70, representing a 4%-8% increase[27] - Full-year 2025 sales are estimated to be $39.6 billion to $40.5 billion, with organic growth of 1%-4% excluding the Bombardier Agreement (BBD)[27] - Full-year 2025 adjusted EPS is projected to be $10.20-$10.50, a 3%-6% increase, or a (1%)-2% increase excluding BBD[27] - Free cash flow for 2025 is expected to be $5.4 billion to $5.8 billion, up 10%-18%, or down (2%)-up 5% excluding BBD[27] Portfolio Transformation - Honeywell is on track to complete the spin-offs of Aerospace and Automation, and Advanced Materials, while maintaining operational focus[17] - Share repurchase has been accelerated to $3 billion year-to-date, aiming for a 2% net share count reduction in 2025[17] - The company announced the Sundyne acquisition for $2.2 billion in an all-cash transaction[24] Mitigation of Global Trade Uncertainty - Honeywell estimates a $500 million exposure in 2025 due to current tariffs, which it plans to fully offset through mitigation efforts[22] - The company is utilizing a multi-pronged approach, including targeted pricing actions, direct material productivity, alternative sourcing, and proactive customer communication[23]

4月16日，由中国自动化学会主办的2025中国自动化产业年会（CAIAC 2025）暨第二十届中国自动化产 业世纪行活动在北京顺利召开。本届大会以"提智向新 聚势前行"为主题，全面总结了过去一年中国自 动化产业在技术创新、产业升级等方面取得的突破性进展，并对2024年度为推动自动化领域发展作出突 出贡献的先进个人、优秀团队和标杆企业进行了表彰。 中控技术表示，公司将以更加成熟稳健的步伐深耕于流程工业领域持续深耕流程工业智能化领域，加速 工业AI的产业化落地与价值转化。我们始终秉持"开放、协作、共赢"的理念，期待与全球合作伙伴携 手，共同谱写工业智能化时代的新篇章，为全球工业转型升级贡献中国智慧和中国方案。 中控技术凭借在工业AI领域的深入探索与创新实践，共斩获"年度企业""年度团队""年度最具价值解决 方案""年度最具竞争力创新产品""年度最具影响力工程项目""年度优质工业安全服务商"六项中国自动 化年度大奖。 作为工业AI领域的探路者、领路人，2024年，中控技术全面开启"All in AI"战略，并正式确立了"成为工 业AI全球领先企业，用AI推动工业可持续发展"的宏伟愿景，搭建了互联互通的数智生态平台， ...

Financial Data and Key Metrics Changes - The company reported a 5% increase in comparable orders year-over-year, with operational EBITDA margin reaching 20.2%, boosted by a one-time contribution of 170 basis points [4][5][22] - Free cash flow for the quarter was $652 million, a year-over-year increase of $101 million, primarily driven by a real estate sale [5][43] - The gross margin improved by 280 basis points to 41.7%, with 110 basis points of this improvement attributed to foreign exchange and commodity timing differences [20][21] Business Line Data and Key Metrics Changes - Electrification achieved record orders of $4.4 billion, up 2% on a comparable basis, with a 6% growth in revenues [23][27] - Motion reported over $2 billion in order intake, although lower large order bookings led to a decline from last year's record levels [29][30] - Process Automation saw orders increase by 23% year-over-year, with revenues up 5% on a comparable basis [34][36] - Robotics and Discrete Automation experienced a 17% growth in orders, but revenues were down 11% year-over-year due to lower production volumes in machine automation [38][40] Market Data and Key Metrics Changes - The Americas region grew by 11%, while Asia, Middle East, and Africa improved by 4%, with China finally showing positive order growth after 10 quarters of decline [16][17] - Europe saw a mixed performance, with overall growth of 1%, as some countries improved while others, like Germany, declined [17] Company Strategy and Development Direction - The company plans to spin off its Robotics division as a separately listed entity to enhance value creation for both ABB and the new company [47][50] - The strategy includes focusing on local production to mitigate tariff impacts, with 75-80% of U.S. sales covered by local production [19][76] - The company aims to improve operational performance across all business areas, with expectations for mid-single-digit revenue growth and stable EBITDA margins [60][104] Management's Comments on Operating Environment and Future Outlook - Management acknowledged increased uncertainty in the global business environment but maintained a positive outlook for mid-single-digit revenue growth and improved operational EBITDA margins [60][62] - The company is confident in the long-term growth of the data center segment, driven by trends in AI, despite short-term volatility from a major customer [69][70] Other Important Information - The company made significant progress towards sustainability targets, achieving a 78% reduction in CO2 emissions from 2019 levels by the end of 2024 [8] - The robotics division has shown consistent order growth and strong performance metrics, indicating readiness for a standalone listing [54][56] Q&A Session Summary Question: Data center business growth expectations - Management confirmed mid-teens growth in data center orders, with confidence in long-term growth driven by AI trends [69][70] Question: Impact of tariffs on pricing and supply chain - Management indicated minimal impact from tariffs due to local production and existing exemptions, with some price actions already taken [76][78] Question: Order pipeline and customer concerns - Management noted that while decision-making may take longer due to uncertainty, the overall order pipeline remains strong [85][86] Question: Capacity expansion in the U.S. - Capacity expansion is primarily demand-driven, with investments aimed at meeting local market needs rather than solely tariff mitigation [90][91] Question: Portfolio change timing - The decision to spin off the robotics division was based on its readiness for independence and limited synergies with other ABB businesses [93][94] Question: Electrification growth drivers - Management highlighted a strong order backlog and improved visibility for Q2, with expectations for margin expansion across all business areas [101][102]

Group 1: Company Performance - Emerson Electric Co. is experiencing solid momentum in its Intelligent Devices and Software and Control segments, with sales in the Final Control business increasing by 4% year over year in Q1 of fiscal 2025 [1] - The Measurement & Analytical business also saw a 3% year-over-year sales increase in the fiscal first quarter, supported by robust growth across geographies and strong backlog conversion levels [2] - The Software and Control segment reported a 2% year-over-year revenue increase in the fiscal first quarter, driven by strength in power and process end markets [2] Group 2: Future Outlook - Emerson has provided a bullish forecast for fiscal 2025, expecting net sales to increase approximately 1.5-3.5% year over year, with underlying sales anticipated to rise by 3-5% [3] Group 3: Acquisitions and Growth Strategy - The company is focused on expanding its market presence through acquisitions, having acquired all outstanding shares of Aspen Technology, Inc. in March 2025, increasing its ownership from 55% to around 57% [4] - In Q4 of fiscal 2023, Emerson completed acquisitions of Afag and Flexim, which enhanced its capabilities in factory automation and measurement, contributing positively to underlying sales growth by 9% in fiscal 2024 [5] Group 4: Shareholder Returns - Emerson's shareholder-friendly policies include $301 million in dividends and $899 million in share repurchases in the first three months of fiscal 2025, with plans to repurchase $2 billion in shares and pay out $1.2 billion in dividends for the fiscal year [6] Group 5: Challenges - Despite positive performance in certain segments, Emerson is facing challenges in its Safety & Productivity, Discrete Automation, and Test & Measurement businesses, with sales declines of 3%, 5%, and 6% respectively in the fiscal first quarter [9][10] - The company is undertaking restructuring measures to improve operational efficiency, which incurred costs of $12.9 million in the fiscal first quarter [11]

Group 1 - The company has won a bid for the construction of an automation project at the Saling Gold Mine, with a bid amount of RMB 76,986,000 [2][3] - The project is part of the company's regular business operations and is expected to positively impact future business development and operating performance if the formal contract is signed and implemented smoothly [2][3] - The project signifies the comprehensive application and promotion of the company's core industrial intelligence products in the coal and non-coal mining sectors, enhancing its sustainable profitability and core competitiveness [2][4] Group 2 - The company is part of a consortium that won the bid, and the final amount will be determined upon the signing of the formal contract [2][3] - There is no related party relationship between the company and the bidding entity, ensuring the independence of the company's business operations [4]

工大高科公告，公司近日收到莱州汇金矿业投资有限公司纱岭金矿建设基础自动化项目的《成交通知 书》，中标金额为人民币7698.6万元。项目位于山东省烟台市莱州市朱桥镇，采购单位为莱州汇金矿业 投资有限公司。项目属于公司日常经营范围的主营业务，若正式合同顺利实施，将对公司未来业务发展 及经营业绩产生积极影响。项目为联合体中标，公司作为联合体成员单位，所涉最终金额以正式签订的 合同约定为准。 ...

Core Points - Emerson has completed the acquisition of all outstanding shares of Aspen Technology, Inc. not already owned by Emerson, marking a significant milestone in Emerson's portfolio transformation [1][2] - AspenTech is now a wholly owned subsidiary of Emerson, with plans to enhance offerings and drive shareholder value [2] - Antonio Pietri will retire as CEO of AspenTech, with Vincent M. Servello appointed as the new President of the AspenTech business unit [3] Acquisition Details - Emerson's tender offer for AspenTech shares was priced at $265.00 per share in cash, which expired on March 11, 2025, with approximately 72% of the outstanding shares validly tendered [5][6] - Following the tender offer, Emerson completed the acquisition through a merger on March 12, 2025, and AspenTech shareholders who did not tender their shares are entitled to receive $265.00 per share [6] - AspenTech's shares have ceased trading on NASDAQ following the completion of the acquisition [6] Leadership Changes - Vincent M. Servello, who has been with Emerson since 2014, will lead AspenTech, bringing expertise in industrial technology and corporate strategy [3] - David Baker will continue as CFO of the AspenTech business unit [3] Integration into Emerson - AspenTech will operate as an independent business unit within Emerson, with its results consolidated into the Control Systems & Software segment [4]

Group 1: Honeywell International - Honeywell plans to split into three publicly traded businesses, which may outperform as individual entities based on successful examples from peers [2][7] - The focus is on Honeywell Aerospace and Honeywell Automation, with management citing peers like GE Aerospace, RTX, and TransDigm, all of which have undergone significant corporate changes [3][5] - Honeywell Aerospace will gain flexibility for acquisitions to enhance its portfolio, while Honeywell Automation will focus on industrial and building automation, competing with companies like Emerson Electric and Rockwell Automation [4][5] Group 2: Hexcel Corporation - Hexcel specializes in advanced graphite composites, which are increasingly used in the aerospace industry, providing long-term growth prospects due to rising airplane production and composite content [9][10] - Despite recent challenges from Boeing and Airbus falling behind production schedules, Hexcel's valuation has declined, allowing investors to buy at 19 times its estimated 2025 free cash flow, which is favorable given its growth potential [11][12]

Core Viewpoint - Emerson Electric Co. is experiencing growth due to strong performance across its segments and strategic acquisitions, making it an attractive option for investors [1][3]. Segmental Strength - Healthy demand in most end markets is positively impacting Emerson's results, with underlying sales increasing by 2% in the fiscal first quarter [3]. - The Intelligent Devices and Software and Control segments are showing solid momentum, particularly in the Final Control business and Measurement & Analytical business, supported by robust growth across geographies and strong backlog conversion [4]. Accretive Acquisitions - Emerson is enhancing its product portfolio through acquisitions, including a deal to acquire the remaining shares of AspenTech for $265 per share, increasing its ownership to 100% [5]. - The acquisitions of Afag and Flexim in the fourth quarter of fiscal 2023 have expanded Emerson's capabilities in factory automation and flow measurement [6]. - The recent acquisition of National Instruments for $8.2 billion has strengthened Emerson's position in global automation, particularly in high-growth markets such as semiconductors and electric vehicles [7]. Rewards to Shareholders - Emerson is committed to returning value to shareholders, having paid out $301 million in dividends and repurchased $899 million in common stocks in the fiscal first quarter [8]. - The company plans to repurchase shares worth $2 billion and distribute $1.2 billion in dividends in fiscal 2025, alongside a 0.5% dividend increase in November 2024 [8]. Business Weakness - Despite overall strength, Emerson is facing challenges in the Safety & Productivity, Discrete Automation, and Test & Measurement segments, with sales declines of 3%, 5%, and 6% respectively in the first quarter of fiscal 2025 [9]. Forex Woes - Emerson's international operations expose it to currency fluctuation risks, with adverse foreign currency translation impacting sales by 1% year over year in the fourth quarter and an expected impact of approximately 1.5% in fiscal 2025 [10].