Group 1: Company Overview - Long Cable Technology Group Co., Ltd. is identified by stock code 002879 and abbreviated as 长缆科技 [1] Group 2: Investor Relations Activity - The investor relations activity was a specific object survey held on November 18, 2025, from 10:00 to 11:00 in the company meeting room [2] - Participants included Huang Ping (Director, Board Secretary, Financial Responsible Person), Liu Lihong (Securities Affairs Representative), and Shang Danni (IR) [2] Group 3: Product Advantages - Double River Energy has established advantages in the natural ester insulating oil sector, characterized by high flash and fire points, natural biodegradability, low carbon footprint, and strong overload capacity [2] - Successful applications of natural ester insulating oil include the world's first 110kV natural ester transformer and a 180 MW offshore photovoltaic project by the Three Gorges Group [2] Group 4: Research and Development - In 2024, Double River Energy increased R&D investment and participated in a national key technology project for plant-based insulating oil for ultra-high voltage transformers [2] - The company is currently testing its immersion-type insulating cooling liquid, which aims to broaden product variety and enhance market competitiveness [3] Group 5: R&D Achievement Transformation - The company emphasizes the industrial application of R&D achievements, showcasing strong technology transfer capabilities [3] - In 2018, the company successfully developed cross-linked polyethylene insulating power cable accessories for 290/500kV and ±525kV, marking a significant breakthrough in higher voltage levels [3] - In 2022, the company achieved notable success in the national grid's centralized bidding for 330kV-500kV series products, indicating the commercial application of these products in urban power transmission networks [3] Group 6: Industry Competition Landscape - The cable accessory industry exhibits a "pyramid" structure in market competition, with a fragmented landscape in the medium and low voltage segments due to lower technical barriers [3] - In the high voltage cable accessory sector, higher technical barriers lead to increased industry concentration, with major competitors including Changyuan Group, Hancable, and foreign firms like Sumitomo and Prysmian [3] - The company is among the few globally capable of independently developing and producing ultra-high voltage cable accessories, positioning itself alongside international leaders in technology [3]

Group 1: Product Development and Innovation - The company has made significant progress in the development of 750kV cable accessories, achieving a major technological breakthrough with two innovative products that have passed national-level technical certification, marking a leading position in ultra-high voltage cable accessory technology [2] - The 290/500kV cross-linked polyethylene insulated power cable accessories and ±525kV direct current cable accessories have been successfully applied in key projects, indicating a successful transition to higher voltage levels [3] - The company has established a complete technical system for cable accessories, focusing on high voltage product development and smart cable accessories [3] Group 2: Environmental and Safety Advantages - Double River Energy has developed natural ester insulating oil, which is biodegradable, non-toxic, and has high flash and fire points, making it an ideal environmentally friendly insulating oil for transformers [3] - The natural ester insulating oil has been successfully applied in various projects, including the world's first natural ester three-dimensional core transformer [3] Group 3: Market Expansion and Performance Drivers - The company has successfully entered international markets, including Italy, the USA, Uruguay, Oman, and Algeria, achieving export sales of its full range of products [3] - The company emphasizes an "innovation-driven development strategy," continuously increasing R&D investment to maintain its technological leadership and core competitiveness [3] - A joint research center has been established with Xi'an Jiaotong University to enhance R&D capabilities and foster talent development [3]