| | ■特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 □其他 | | 参与单位名称 | 天风证券、西部证券、博衍基金、西部利得基金 | | 时间 | 2025 年 12 月 4 日 | | 地点 | 精工科技会议室 | | 上市公司接待 人员姓名 | 黄伟明、金超 | | | 一、公司碳纤维全产业链业务发展情况 | | | 公司碳纤维装备制造领域业务始于 2013 年，于 2015 | | | 年完成国内首台套千吨级碳纤维成套生产线的研发制造， | | | 2020 年首条国产化千吨级碳纤维生产线一次性试车成功 | | | 并交付用户使用。目前在构建完成碳纤维全链高端装备 | | | （原丝装备、碳纤维装备、复材装备）布局基础上，按照 | | | "装备引领、材料协同、应用支撑"的发展战略，在先进 | | | 复合新材料领域加速布局。 | | | 在设备领域上：目前，公司碳化线可覆盖大小束丝碳 | | 投资者关系活动 | 纤维的生产，生产线有效宽幅为 0.4 米—4 米，公司可 ...

Core Viewpoint - Jinggong Technology has won a bid for the Wuhan Qingshan High-Performance Carbon Fiber Production Base Project, with a contract amount of 729 million yuan, accounting for 42.16% of the company's audited revenue for 2024 [1] Group 1: Project Details - The project involves the construction of two 5,000-ton high-performance PAN-based carbon fiber precursor production lines and one 3,000-ton carbon fiber production line [1] - Successful implementation of the project is expected to expand the production and sales scale of the company's precursor and carbonization production lines, positively impacting future operating performance [1] Group 2: Company Background and Financials - Jinggong Technology primarily engages in the research, development, production, sales, and technical services of carbon fiber specialized equipment, polyester recycling equipment, new energy-saving construction equipment, robots, and intelligent equipment [1] - The carbon fiber equipment business is the largest contributor, with revenue of 629 million yuan in the first half of this year, representing a year-on-year growth of 59.53% and accounting for nearly 60% of total revenue [1] Group 3: Market Position and Strategy - The company customizes various specifications of carbon fiber production lines and provides integrated system solutions across the entire carbon fiber industry chain, with a domestic market share exceeding 60% [2] - Jinggong Technology is actively advancing high-performance fiber project investments, with the first precursor production line undergoing debugging and set to start trial production soon [2] - The company has sufficient orders on hand, primarily for carbon fiber complete lines and core equipment, and plans to expand both domestic and international markets [2] Group 4: Innovation and Future Growth - In addition to its core business, the company is exploring new application fields such as carbon-ceramic materials and carbon fiber + PEEK, aiming to cultivate a second growth curve for core industry development [3]

Core Insights - The company is currently conducting the debugging and trial production of its first original wire production line, which is primarily aimed at producing high-performance original wire with a specification of T700 and above [2] Group 1 - The production line is focused on high-performance original wire production [2] - The company is in the process of testing and commissioning the production line [2]

Core Viewpoint - The company is currently conducting the debugging and trial production of its first original wire production line, which is primarily aimed at producing high-performance original wire with a tensile strength of T700 and above [1] Group 1 - The company is engaged in the debugging of its first original wire production line [1] - The production line is focused on high-performance original wire production [1]

Company Overview - Founded in 1992 and listed on the Shenzhen Stock Exchange in June 2004 [2] - Completed refinancing in 2024, raising a total of 943 million CNY, increasing total shares from 455,160,000 to 519,793,440 [2] - Achieved consolidated revenue of 1.343 billion CNY in the first three quarters of 2025, a year-on-year increase of 13.70% [2] - Net profit attributable to shareholders reached 145 million CNY, up 98.18% year-on-year, primarily driven by carbon fiber equipment sales [2] Carbon Fiber Industry Development - Initiated carbon fiber equipment manufacturing in 2013, focusing on high-end equipment and advanced composite materials [3] - First raw silk production line nearing completion, expected to significantly reduce raw silk costs [3] - Carbonization line capacity increased from 3,000 tons to 5,000 tons, with reduced energy consumption [3] - Development of automated production equipment for composite materials to enhance efficiency and reduce costs [3] Composite Material Capabilities - Established composite material companies in Shaoxing and Wuhan, with capabilities in prepreg production, material testing, product design, and manufacturing [4] - Investments in graphene-based carbon fiber and 3D printing technologies [4] - Collaborated with various companies to enhance aerospace composite material capabilities [4] Raw Silk Equipment Project Progress - Zhejiang Jinggong Carbon Material Technology Co., Ltd. serves as the testing and demonstration base for raw silk production lines [5] - Ongoing efforts to initiate trial production of high-performance fiber [5] Carbonization Line Specifications and Pricing - Carbonization lines can produce various widths (0.4m to 4m) and configurations based on customer needs [6] - Standard pricing for a 3m carbonization line ranges from 160 million to 200 million CNY, capable of producing over 3,000 tons of carbon fiber annually [6] Customer Composition and Market Strategy - Major clients include regions in China and international markets such as South Korea and Vietnam [6] - Focused on expanding both domestic and international markets to secure new orders [6] Exoskeleton Robot Development - Second-generation single-joint exoskeleton robot has completed testing and is moving towards mass production [6] - Ongoing development of multi-joint exoskeleton robots, with the first prototype currently in progress [6]

Core Viewpoint - Zhejiang Jinggong Integrated Technology Co., Ltd. announced a change in the sales contract for carbon fiber production lines, which has attracted market attention [1] Contract Change Details - On November 23, 2024, Jinggong Technology signed a sales contract with a total amount of 515.5 million yuan (including tax) for a complete carbon fiber production line and a raw silk production line [2] - The buyer has changed from Zhongyi Huixin Company to Jingyi Fiber Industry (Suining) Company, which is required to pay a deposit of 10 million yuan by the end of November 2025 [2] - The delivery location has been adjusted and will be determined by Jingyi Fiber Industry (Suining) Company [2] Counterparty Information - Jingyi Fiber Industry (Suining) Company was established on August 28, 2025, with a registered capital of 15 million yuan, focusing on new material technology and high-performance fiber manufacturing [3] - There is a complex ownership relationship between Jingyi Fiber Industry (Suining) Company and Zhongyi Huixin Company, with shared ownership and management [3] Impact and Risks of Contract Change - The agreement will not have a significant adverse impact on the financial status or operating results of Jinggong Technology, and it is expected to expedite contract implementation [4] - However, there are risks associated with long contract performance periods, including potential delays in payment and fulfillment due to industry policy changes or unforeseen events [4]