Core Viewpoint - The company is a leading provider of modified polymer material solutions in China and serves as a core material supplier and strategic partner for XPeng Motors, contributing to the innovation and development of smart vehicles [1] Group 1: Company Overview - The company supplies materials for multiple XPeng models, including M03, P7, G6, and G9, supporting XPeng's continuous innovation in the smart automotive sector [1] Group 2: Industry Focus - The company is closely monitoring the rapid development of the robotics industry and emphasizes the application of new materials in areas such as lightweighting and functionality, replacing steel with plastics [1] - The company's materials can be utilized in humanoid robots for components like joints, bearings, gears, skeletal support parts, structural components, and skin [1] - The company is actively collaborating with relevant clients to develop and validate the use of its materials in the humanoid robotics sector [1]

（原标题：普利特(002324.SZ)：公司材料覆盖了小鹏M03、P7、G6、G9等多款车型） 格隆汇12月2日丨普利特(002324.SZ)在投资者互动平台表示，公司作为国内改性高分子材料解决方案的头部企业之一，是小鹏汽车的核心材料供 应商和战略合作伙伴，公司材料覆盖了小鹏M03、P7、G6、G9等多款车型，助力小鹏汽车在智能汽车领域的不断创新和发展。公司持续关注着机 器人产业的快速发展，高度重视新材料在机器人产业中以塑代钢、轻量化、功能化等方面的应用，相关材料产品可以用于人形机器人的关节、轴 承、齿轮、骨骼支撑件，结构件、皮肤等部件，公司正在积极与相关客户在上述应用中进行共同开发和验证工作，加快推进公司材料在人形机器 人行业中的使用。 ...

Production Capacity - The company has three production bases in South China, East China, and Southwest China, with a designed capacity of 200,000 tons in South China, achieving an 80% utilization rate as of now [2] - The East China production base has a designed capacity of approximately 50,000 tons, expected to gradually release 50% of its capacity by mid-2025 [2] - The Southwest production base is still under construction and currently has no capacity released [2] Cost Improvement Measures - The company has implemented cost reduction and efficiency enhancement measures since last year, optimizing both material and production costs through iterative upgrades in formulation [2] - Increased capacity utilization and product output have further released economies of scale [2] Customer Segmentation - Approximately 50% of the company's downstream customers are in the home appliance sector, while around 40% are in the automotive sector, with other industries accounting for about 10% [3] - Key home appliance clients include Midea, Gree, Haier, and Xiaomi, while automotive clients include GAC Aion and GAC Toyota [3] Order Stability - The company has established strong cooperative relationships with core customers in the home appliance and automotive sectors, ensuring stable order sources [4] Cash Flow Issues - The negative operating cash flow is primarily due to differences in settlement methods between customers and suppliers, with suppliers requiring immediate payment while customers typically use longer-term payment methods [5] New Directions and Innovations - The company is focusing on the research and development of modified high polymer materials for emerging industries such as new energy and robotics [6] - It aims to actively expand into new product areas aligned with downstream application opportunities [6] Recycling Initiatives - The company promotes the recycling of post-consumer plastics (PCR) and is working on certification to enhance the high-value recycling of materials [7][8] Response to Price Declines - In response to declining end-user prices due to increased competition, the company is enhancing R&D capabilities, improving product formulations, and developing recyclable materials to reduce costs and improve production efficiency [8]