投资者关系活动记录表 编号：2025-02 证券代码：300670 证券简称：大烨智能 江苏大烨智能电气股份有限公司 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 参与单位名 称（排名不 分先后） 方正证券、华设集团、嘉植基金、中信建投、福圣达、衡堪投资、 东兴证券、苏豪投资、苍之羽私募、中信证券、极星私募、投行之 家 时间 2025 年 11 月 21 日（星期五） 地点 公司会议室 上市公司接 待人员姓名 董事长、总经理：陈杰 董事、副总经理、董事会秘书：任长根 证券事务代表：林忠杰 投资者关系 活动主要内 容介绍 一、现场参观 参观公司展厅、介绍公司企业文化、发展历程和整体业务布局。 二、问答交流摘要 1、问：据公司披露的公告，公司将船舶锦华 01、锦华 02 以光船 租赁的形式出租给承租方 OOS，承租方是否具备船舶运营经验以及 租金支付能力？ 答：承租方 OOS 深耕巴西市场多年，拥有丰富的海上油气服务平台 运营管理经验，具备相应的船舶租赁及运营资质，承租方已与巴西 国家石油公司签署了油气服务平台运营管理合同，具备租金 ...

Core Points - The stock of Haocreative Ruitong (301668.SZ) closed at 53.84 yuan, with a decline of 6.85% on its sixth trading day [1] - The stock reached a record low of 47.8 yuan on October 9, 2023 [2] - Haocreative Ruitong is recognized as a "little giant" in the smart distribution equipment industry, focusing on digital solutions for distribution networks [2] Company Overview - Haocreative Ruitong specializes in smart distribution equipment and digital solutions for distribution networks, integrating technologies such as electronics, communication, networking, automatic control, and sensing [2] - The company aims to upgrade from traditional manufacturing to smart manufacturing by developing self-research testing tools and automation equipment [2] - The company was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on September 26, 2025, with an initial public offering of 27.9 million shares at a price of 21.00 yuan per share [2] Financial Highlights - The total amount raised from the initial public offering was 585.90 million yuan, with a net amount of 516.15 million yuan after deducting issuance costs [3] - The net amount raised exceeded the original plan by 39.62 million yuan [3] - The company plans to use the funds for projects including the production of smart ring network cabinets, smart pole switches, and the establishment of a smart distribution research and development center, as well as to supplement working capital [3]

Group 1 - The core viewpoint of the articles highlights the strong market performance and growth potential of Haocreat Ruitong, which saw its stock price rise by 9.18% to 57.80 CNY per share, with a market capitalization of approximately 6.4 billion CNY after its successful listing on the Shenzhen Stock Exchange on September 26, 2023 [1] - Haocreat Ruitong specializes in smart distribution equipment and digital solutions for distribution networks, with key products including smart ring network cabinets, smart pole-mounted switches, and box-type substations, widely used in the construction of new power systems [1] - The company has shown steady financial growth, with projected revenues of 560 million CNY, 672 million CNY, and 867 million CNY for the years 2022 to 2024, and net profits of approximately 68.76 million CNY, 87.41 million CNY, and 111 million CNY for the same period [1] Group 2 - Haocreat Ruitong aims to adhere to a development strategy focused on refining its core business in distribution networks while pursuing moderate external growth, positioning itself as a leader in distribution technology and a promoter of smart energy and green development [2] - The company plans to leverage advancements in IoT, edge computing, and artificial intelligence, emphasizing innovation-driven development and increasing investments in R&D, smart production, sales channel development, and human resources to enhance its core competitiveness and market positioning [2] - The company is committed to becoming a leading enterprise in China's smart distribution sector by fostering new growth drivers and establishing new advantages for high-quality, leapfrog development [2]

New Listings - From September 22 to September 28, one company was listed on the Shanghai Stock Exchange main board, and three companies were listed on the Shenzhen Stock Exchange ChiNext [2] - YouSheng Co., Ltd. is a professional manufacturer of aluminum alloy automotive parts, focusing on lightweight automotive components to enhance the range of electric vehicles and improve fuel efficiency for gasoline vehicles. On its first trading day, the stock price rose by 71.48%, closing at 66.31 CNY per share on September 29, an increase of 43.03% from the issue price of 46.36 CNY, with a total market capitalization of approximately 12.8 billion CNY [3] ChiNext Listings - Shanghai Jianfa Zhixin Medical Technology Group Co., Ltd. engages in direct sales, distribution, and centralized management of hospital consumables. On its first trading day, the stock price surged by 418.58%, closing at 34.12 CNY per share on September 29, a rise of 383.97% from the issue price of 7.05 CNY, with a total market capitalization of around 14.4 billion CNY [4] - Suzhou Huichuan United Power System Co., Ltd. focuses on the R&D, production, sales, and service of core components for electric drive systems and power systems for electric vehicles. The stock price increased by 147.60% on its first day, closing at 32.77 CNY per share on September 29, up 162.58% from the issue price of 12.48 CNY, with a total market capitalization of approximately 78.8 billion CNY [4] - Beijing Wuchuang Ruitong Electric Equipment Co., Ltd. specializes in the R&D, production, and sales of smart distribution equipment. The stock price rose by 190.76% on its first trading day, closing at 58.78 CNY per share on September 29, an increase of 179.90% from the issue price of 21.00 CNY, with a total market capitalization of about 6.5 billion CNY [5] Companies Passing Review - From September 22 to September 28, two companies passed the review on the Shanghai Stock Exchange Sci-Tech Innovation Board, and one company passed the review on the Shenzhen Stock Exchange ChiNext [6] - BaiAo SaiTu is a preclinical CRO and biotechnology company that provides innovative animal models and preclinical drug development services based on its proprietary gene editing technology [7] - MoEr Thread focuses on the R&D, design, and sales of GPUs and related products, having successfully launched four generations of GPU architecture [7] Companies Submitting IPO Applications - One company submitted an IPO application on the Shanghai Stock Exchange Sci-Tech Innovation Board, and one company submitted an application on the Shenzhen Stock Exchange ChiNext from September 22 to September 28 [10] - Anshi Biotechnology is an innovative biopharmaceutical company focusing on oncology and other diseases with significant unmet clinical needs. The company plans to issue no more than 76.0043 million shares, aiming to raise 2.45 billion CNY for new drug R&D and working capital [12] - Zhongsu Co., Ltd. specializes in the R&D, production, and sales of modified engineering plastics, with applications in consumer electronics, energy storage, automotive, and home appliances. The company plans to issue no more than 12.3329 million shares, seeking to raise 645 million CNY for various projects [14] Companies with Terminated Review - From September 22 to September 28, no companies had their listing reviews terminated on either the Shanghai Stock Exchange or the Shenzhen Stock Exchange [16]

Core Viewpoint - Haocreat Ruitong Electric Equipment Co., Ltd. has officially listed on the Shenzhen Stock Exchange's Growth Enterprise Market, focusing on smart distribution equipment and digital solutions for distribution networks [1] Group 1: Company Overview - Haocreat Ruitong specializes in the research, production, and sales of smart distribution equipment, including smart ring main units, smart pole-mounted switches, and box-type substations [1] - The company has achieved significant revenue growth, with projected revenues of 560 million yuan, 672 million yuan, and 867 million yuan from 2022 to 2024, reflecting compound growth rates of 24.47% and 27.22% for net profits [2] Group 2: Industry Context - The power industry is a crucial foundation for China's economic and social development, with a steady increase in electricity demand driving the growth of the smart distribution equipment sector [2] - By the end of 2023, China's installed power generation capacity reached 2.922 billion kilowatts, a year-on-year increase of 14.0%, while total electricity consumption grew by 6.7% [2] Group 3: Financial Performance - In the first half of 2025, the company reported revenues of 451 million yuan, a year-on-year increase of 2.97%, and a net profit of 61.61 million yuan, up 15.80% [3] - As of June 16, 2025, the company had an order backlog of 750.53 million yuan, reflecting a year-on-year growth of 16.67% [3] Group 4: R&D and Competitive Advantage - The company has a strong R&D team, with 43 personnel, accounting for 11.35% of total employees, and 65.12% of employees holding at least a bachelor's degree [4] - R&D expenditures have shown significant growth, with amounts of 17.30 million yuan, 23.36 million yuan, and 32.32 million yuan over the report period, resulting in a compound growth rate of 36.69% [4] Group 5: Technological Achievements - Haocreat Ruitong has developed core technologies in areas such as fault location and self-healing technology for distribution networks, achieving international advanced levels in several products [5] - The company holds 132 patents, including 15 invention patents, and has participated in the formulation of two national standards [6]

Core Viewpoint - Haocreat Ruitong officially listed on the Shenzhen Stock Exchange's Growth Enterprise Market, marking a significant milestone for the company focused on smart distribution equipment and digital solutions for distribution networks [1] Group 1: Company Overview - Haocreat Ruitong specializes in smart distribution equipment and digital solutions for distribution networks, leveraging national strategic initiatives such as "carbon peak and carbon neutrality" to drive innovation and development [2] - The company has developed key technologies including fault location and self-healing technology for distribution networks, IoT-enabled sensing components, high-precision power sensor technology, and low-pressure sealed air-insulated technology [2] Group 2: Stock Market Performance - The initial public offering price was set at 21.00 yuan per share, with the stock opening at 58.00 yuan and peaking at 75.00 yuan before closing at 61.06 yuan, representing a 190.76% increase on the first day [1] - The total market capitalization reached 6.717 billion yuan, with a trading volume of 18.81 million shares and a turnover of 1.188 billion yuan, indicating a high turnover rate of 81.60% [1] Group 3: Future Plans and Investments - The company plans to use the raised funds of approximately 58.59 million yuan for projects including the production of smart ring network cabinets, smart pole-mounted switches, and the establishment of a smart distribution research center [3][4] - The projects aim to enhance production scale, automation, and information technology levels, thereby improving the company's competitive edge and ensuring sustainable operations [4]

Core Viewpoint - The company, Haocreative Ruitong, is focused on expanding its customer base beyond the State Grid and Southern Power Grid while maintaining strong relationships with these key clients, aiming for a decrease in customer concentration over the long term [1][2]. Group 1: Market Demand and Customer Base - The demand for Haocreative Ruitong's products is expected to continue growing, particularly from the State Grid and Southern Power Grid, which will remain the primary customers in the short term [1]. - The company plans to enhance its sales team and channels, strengthen brand building, and actively seek new customers, particularly in sectors outside of the power grid [2]. - Sales revenue from customers outside the State Grid and Southern Power Grid is projected to grow significantly, with expected revenues of 62.01 million, 49.11 million, and 111.33 million CNY for the years 2022-2024, reflecting a compound annual growth rate of 33.98% [1]. Group 2: Product Development and Innovation - Haocreative Ruitong specializes in smart distribution equipment and digital solutions for distribution networks, with key products including smart ring main units, smart pole-mounted switches, and box-type substations [3]. - The company has invested significantly in R&D, with expenditures of 17.30 million, 23.36 million, and 32.32 million CNY over the reporting period, achieving a compound growth rate of 36.69% [3]. - The company has developed critical technologies such as fault location and self-healing technology for distribution networks, which enhance the intelligence of its products [3][4]. Group 3: Financial Performance - Haocreative Ruitong reported revenues of 559.80 million, 672.37 million, and 867.25 million CNY, with a compound growth rate of 24.47%, and net profits of 68.76 million, 87.41 million, and 111.29 million CNY, with a compound growth rate of 27.22% [6]. - For the first half of 2025, the company achieved a revenue of 450.80 million CNY, representing a year-on-year growth of 2.97%, and a net profit of 61.61 million CNY, up 15.80% year-on-year [6]. Group 4: Future Plans and Strategic Direction - The company plans to issue 27.90 million shares at a price of 21.00 CNY per share, aiming to raise approximately 585.90 million CNY for projects related to smart distribution equipment and R&D [6][7]. - The strategic focus is on becoming a leader in the smart distribution equipment sector, aligning with national strategies for carbon neutrality and smart grid development [7]. - Haocreative Ruitong aims to leverage advancements in IoT, edge computing, and AI to enhance its product offerings and market position [7].

Core Viewpoint - The company, Haocreative Ruitong, emphasizes its focus on smart distribution equipment and its integration of traditional and modern technologies to enhance product innovation and market competitiveness [1][2][3]. Company Overview - Haocreative Ruitong is a high-tech enterprise specializing in smart distribution equipment and digital solutions for distribution networks, with key products including smart ring network cabinets, smart pole switches, and box substations [2][3]. - The company has achieved recognition as a national-level "specialized, refined, distinctive, and innovative" small giant enterprise and a national green factory [2]. Research and Development - The company has invested significantly in R&D, with expenditures of 17.30 million, 23.36 million, and 32.32 million yuan over the reporting period, reflecting a compound annual growth rate of 36.69% [2]. - As of August 2025, the company holds 132 patents and 30 software copyrights, including 15 invention patents, and has contributed to the formulation of two national standards [3]. Product Innovation - The company has developed key technologies such as distribution network fault location and self-healing technology, IoT integration for distribution equipment, and high-precision power sensor technology [3]. - The products are characterized by digital measurement, network control, state visualization, integrated functionality, and interactive information [3]. Market Performance - The company reported revenues of 559.80 million, 672.37 million, and 867.25 million yuan over the reporting period, with a compound growth rate of 24.47%, and net profits of 68.76 million, 87.41 million, and 111.29 million yuan, with a compound growth rate of 27.22% [4][5]. - In the first half of 2025, the company achieved a revenue of 450.80 million yuan, a year-on-year increase of 2.97%, and a net profit of 61.61 million yuan, a year-on-year increase of 15.80% [5]. Future Plans - The company plans to issue 27.90 million shares at a price of 21.00 yuan per share, aiming to raise approximately 58.59 million yuan for projects related to smart distribution equipment and R&D [5][6]. - The projects include the construction of smart ring network cabinet and smart pole switch production facilities, as well as a smart distribution R&D center, aimed at enhancing production automation and R&D capabilities [6]. Strategic Positioning - The company aims to become a leader in the smart distribution field, focusing on innovation-driven development and aligning with national strategies for carbon neutrality and smart grid deployment [6].

Core Viewpoint - The company, Haocreator Ruitong, is set to revolutionize the power equipment industry with its innovative technologies and is preparing for its IPO to further capitalize on the growing demand for smart distribution equipment in the new power system landscape [1][2][11]. Company Overview - Haocreator Ruitong specializes in smart distribution equipment and digital solutions for distribution networks, focusing on products like smart ring main units, smart pole switches, and box-type substations [2][3]. - The company has established a robust competitive advantage through its core technology system, which includes self-healing technology for distribution network faults and environmentally friendly air-insulated technology [4][5]. Market Position - The company ranks 6th, 2nd, and 3rd in the bidding for smart ring main units, smart pole switches, and box-type substations, respectively, indicating a strong market presence [5]. - The company has achieved significant revenue growth in its core business segments, with revenues from smart ring main units, smart pole switches, and box-type substations increasing from 232 million, 174 million, and 109 million yuan in 2022 to 346 million, 276 million, and 202 million yuan in 2024 [8]. Financial Performance - The company's total revenue is projected to grow from 560 million yuan in 2022 to 867 million yuan in 2024, with a compound annual growth rate (CAGR) of 24.47% [8]. - The net profit is expected to increase from 68.76 million yuan in 2022 to 111 million yuan in 2024, with a CAGR of 27.22%, indicating strong profitability [10]. Future Growth Potential - The company is well-positioned to benefit from favorable government policies aimed at promoting the development of smart distribution equipment, which is crucial for the safety and efficiency of the power system [11][12]. - The demand for electricity in China continues to grow, with a projected increase in power generation capacity and consumption, creating a favorable environment for investment in distribution network upgrades [13][14].

Core Viewpoint - Haocreat Ruitong (301668.SZ) is experiencing steady revenue growth from 2022 to 2024, driven by its focus on smart distribution equipment and digital solutions for distribution networks [1][4]. Group 1: Financial Performance - The company's revenue is projected to grow from CNY 558.32 million in 2022 to CNY 862.62 million in 2024, with a compound annual growth rate (CAGR) of 24.47% [1][4]. - Net profit is expected to increase from CNY 68.76 million in 2022 to CNY 111.29 million in 2024, with a CAGR of 27.22% [4]. - For the first half of 2025, the company reported revenue of CNY 450.80 million, a year-on-year increase of 2.97%, and net profit of CNY 61.61 million, up 15.80% [4]. Group 2: Product and R&D Focus - Haocreat Ruitong specializes in smart distribution equipment, including smart ring network cabinets, smart pole switches, and box-type substations, with a strong emphasis on R&D and innovation [2][4]. - The company has increased its R&D investment from CNY 17.30 million in 2022 to CNY 32.33 million in 2024, achieving a CAGR of 36.69% [2]. - The company holds 132 patents and 30 software copyrights, with 15 invention patents, indicating a robust innovation pipeline [3]. Group 3: Market Position and Strategy - The company is recognized as a national-level "specialized and innovative" small giant enterprise and has a strong market position in the smart distribution equipment sector [2][4]. - Haocreat Ruitong aims to enhance its production capabilities and R&D strength through the planned use of raised funds for projects related to smart distribution equipment [5][6]. - The company is committed to becoming a leader in the smart distribution field, aligning with national strategies for carbon neutrality and smart grid development [7].