2024年，公元股份实现外销收入16.15亿元，同比增长10.68%，占总营收比重已达24.47%，成为拉动业 绩增长的重要力量。 6月25日，公元股份有限公司（以下简称"公元股份"）发布公告称，公司已通过新加坡全资子公司 Suyuan International Pte.Ltd.（粟元国际），在越南设立全资孙公司ERA PIPELINE VIETNAM COMPANY LIMITED（越南公元），投资建设越南生产基地，此次投资总额约706万美元。 公告显示，本次对外投资是公元股份基于整体战略布局和未来发展需求，立足长远利益作出的审慎决 策。通过设立海外生产基地，有望进一步提升公司在国际市场的品牌影响力和产品供给能力，更好地满 足日益增长的海外订单需求，拓展客户覆盖范围，增强服务响应效率，推动公司海外市场占有率持续提 升，全面强化全球竞争力。 中关村物联网产业联盟副秘书长袁帅对《证券日报》记者表示，越南劳动力资源丰富，产业配套也在不 断完善，有利于企业贴近市场需求、提升区域交付能力。这一布局不仅有助于公元股份提升在东南亚及 周边市场的响应效率和市场占有率，也将增强其对外部不确定因素的应对能力，为全球化发展提供 ...

证券研究报告|行业定期报告 2025 年 06 月 17 日 政策继续推动地产链止跌回稳，产业转型助力基本面修复 建材行业定期报告 中游制造/建材 本周（2025/6/9-2025/6/15）建材动态：水泥市场需求持续疲软，价格维持震 荡调整；浮法玻璃市场价格补跌，出货偏弱；玻纤中，无碱粗纱市场价格稳 中局部调整，电子纱市场价格稳中有涨。消费建材板块，好房子建设持续， 子赛道龙头优势仍存。 推荐（维持） 行业规模 | | | 占比% | | --- | --- | --- | | 股票家数（只） | 96 | 1.9 | | 总市值（十亿元） | 750.6 | 0.9 | | 流通市值（十亿 | 689.9 | 0.9 | | 元） | | | 1、《建材行业定期报告—老旧小区 更新及"好房子"有望提振建材换新 需求》2025-06-10 2、《建材行业定期报告—稳楼市政 策继续发力，等待基本面筑底改善》 2025-05-27 3、《建材行业定期报告—降准降息 推进稳楼市，"好房子"时代头部品 牌受益》2025-05-12 郑晓刚 S1090517070008 zhengxiaogang@cmschina. ...

投资者关系活动记录表 | 证券代码：002694 | 证券简称：顾地科技 编号：2025-001 | | --- | --- | | | □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 | | | □新闻发布会 □路演活动 | | 类别 | □现场参观 | | | □其他 | | 活动形式及参与 | 线上参与"湖北辖区上市公司 2025 年投资者集体接待日活动 | | 单位名称及人员 | 暨 年度业绩说明会"的投资者 2024 | | 姓名 | | | 时间 | 2025 年 6 月 12 日 | | 地点 | 全景路演（https://rs.p5w.net）网络平台 | | 上市公司接待人 | 董事长：苏孝忠先生 | | | 独立董事：蒋海龙先生 | | | 职工董事：潘林亮先生 | | 员姓名 | 董事会秘书：陈静女士 | | | 财务总监：许亮先生 | | | 浙商证券股份有限公司保荐代表人：叶维方先生 | | | 1、公司目前主营业务是什么？ 答：尊敬的投资者您好，公司自成立以来，专业从事塑料管道 | | | 的研发、生产和销售，产品主要涉及 PE、PP、PVC 系 ...

5月15日是中国证监会设立的全国投资者保护宣传日，A股上市公司以此为契机深化投资者关系，增强 投资者理解，切实维护广大投资者合法权益。青龙管业（002457）(002457.SZ)地处西北，近年来持续 通过投资者联系信箱和专线咨询电话、在投资者关系互动平台进行网上交流、接待投资者现场调研等多 种形式与投资者进行沟通交流，提升信息透明度，加大公司与投资者之间的沟通力度。 5月15日下午，青龙管业通过全景网"投资者关系互动平台"举行2024年度网上业绩说明会，公司董事长 高宏斌、财务总监兼董事会秘书宋永东、独立董事吴春芳等公司董监高对投资者重点关注的问题进行回 复，进一步拉近与投资者的关系，满足投资者公平获取公司信息的需求。 公司2024年实现营业收入28.17亿元，同比增长36.71%；扣非归母净利润2.46亿元，同比实现5977.59% 的增长。根据公司披露的投资者关系活动记录表，投资者对2025年业绩预期高度关注。公司回应称，公 司主营业务下游的水利行业将在较长时间内处于景气周期，公司致力于打造成为输节水领域全生命周期 专业服务商。以质量承诺和品牌为依托，以技术创新为发力点，三大类产品混凝土管、复合钢管和塑 ...

【财联社早知道】工信部开会聚焦加快推动工业母机产业高 质量发展,机构预测2025年工业母机市场规模将突破3000 亿元,这家公司目前在硬质合金数控刀具领域已形成较为完 整的产品技术体系 财联社早知道 2025.05.15 21:01 星期四 【大头条】 一、工业母机工信部开会聚焦加快推动工业母机产业高质量发展、机构预测2025年工业母机市场规模将突破3000亿元，这家公 司目前在硬质合金数控刀具领域已形成较为完整的产品技术体系 据媒体报道, 工业和信息化部部长李乐成5月15日主持召开第十四次制造业企业座谈会,聚焦加快推动工业母机产业高质量发 展,听取工业母机企业情况介绍和意见建议。李乐成表示,进一步增强工作责任感紧迫感,锚定发展目标,坚定信心决心,持续 完善工作机制,健全政策支撑体系,强化要素资源协调保障,推动工业母机产业高质量发展。要充分发挥新型举国体制优势,紧 焦关键核心技术和共性技术,扎扎实实搞自主创新,建强中试验证平台,补齐产业链短板弱项,实现"化点成珠、串珠成链"。 点评：中研普华产业研究院预测,2025年工业母机市场规模将突破3.000亿元,高端领域进口替代率有望提升至25%以上，产业 链办同创新 ...

Advanced Drainage Systems (WMS) Q4 2025 Earnings Call May 15, 2025 10:00 AM ET Company Participants Michael Higgins - Vice President of Corporate Strategy and Investor RelationsScott Barbour - President and CEOCraig Taylor - Executive VP - Infiltrator Water TechnologiesScott Cottrill - Executive VP, CFO & SecretaryGarik Shmois - Managing DirectorJeffrey Hammond - Managing DirectorTrey Grooms - Managing DirectorCollin Verron - Director Conference Call Participants Michael Halloran - Senior Research Analyst - ...

Financial Data and Key Metrics Changes - The company reported net sales of $2.9 billion for fiscal year 2025, representing a 1% increase over the prior year [5] - Adjusted EBITDA margin for the year was 30.6%, marking the second most profitable year in the company's history, although it was down modestly from peak levels due to pricing and material cost headwinds [6][7] - Free cash flow generated during fiscal 2025 was $581 million, showcasing strong cash flow generation even in a challenging macro environment [29] Business Line Data and Key Metrics Changes - Organic sales in the Infiltrator and Allied Products segments increased by 53% respectively, with On-site Wastewater and Allied Products now representing 44% of total revenue [7] - Infiltrator reported sales of $516 million, a 15% increase over the prior year, driven by double-digit growth in septic tanks and advanced treatment products [22] - Adjusted gross margins for Infiltrator increased by 50 basis points to 53.6%, aided by favorable pricing and manufacturing efficiencies [24] Market Data and Key Metrics Changes - Domestic construction market sales increased by 3%, with strong growth observed in Florida and Texas, particularly in pipe and infiltrator products [5][6] - The infrastructure market is expected to grow low single digits next year, benefiting from IIJA funds, while agriculture and international markets are anticipated to decline by double digits [34] Company Strategy and Development Direction - The company has strategically diversified its product, geography, and end market mix over the past ten years to enhance profitability and resilience [8][10] - Focus on higher-margin Allied Products has resulted in a 10% CAGR over the past decade, outpacing the core pipe business [9] - The company plans to continue investing in innovation, customer service, and technology to drive long-term shareholder value [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving above-market growth in core domestic construction markets despite a challenging demand environment [21] - The current economic uncertainty has led to the postponement of the Investor Day, with plans to reschedule for later in the year when a clearer three-year outlook can be provided [8][54] - Management highlighted the importance of ongoing investments in production capacity and innovation to maintain competitive advantage [30][31] Other Important Information - The company announced a 13% increase in its annual dividend to $0.72 per share [33] - Capital spending for fiscal 2025 was $212 million, with projections to increase to $275 million for fiscal 2026 [30][88] Q&A Session Summary Question: Clarification on pricing trends and pressures - Management indicated that pricing has been relatively stable, with expectations for price-cost neutrality throughout the year, particularly in the first quarter [39][40] Question: Revenue cadence and year-over-year growth implications - Management expects the first half of the year to account for 55% to 60% of total revenue, with a slightly easier year-over-year comparison in the first quarter [48][49] Question: Postponement of Investor Day - Management postponed the Investor Day to ensure a solid three-year plan can be presented, citing current market conditions as a reason for the delay [54] Question: Order rates and market trends - Order rates are trending positively, supporting guidance for the first half of the year, although management remains cautious about the second half due to economic uncertainty [59][60] Question: Integration of recent acquisitions - Management confirmed a target of 1,000 basis points margin expansion from the Orenco acquisition over the next three to five years, emphasizing growth opportunities [62][63] Question: SG&A expense outlook for 2026 - Management is implementing initiatives to manage SG&A expenses, with a focus on procurement and cost control measures [93][94] Question: Geographic performance insights - Strong performance noted in Florida and Texas, with continued focus on growing market share in these regions despite competitive pressures [96][100]

编号：2025-003 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 □电话会议 □其他 参与单位名称 及人员姓名 参与青龙管业2024年度网上业绩说明会的投资者 时间 2025 年 5 月 15 日 下午 15:00~16:00 地点 全景网"投资者关系互动平台"（https://ir.p5w.net） 公司接待人员 姓名 1、董事长高宏斌 2、财务总监、董事会秘书宋永东 3、独立董事吴春芳 投资者关系活动 主要内容介绍 本次业绩说明会采用网络文字交流的方式举行，问答环节内容如下： 1.公司今年的业绩预期如何？ 您好！近几年国家对水利投资力度不断加大，政策逐步落实，行业稳 定增长趋势明显。根据 2025 年全国水利工作会议，2024 年水利建设投 资创历史新高，全年水利建设投资 13,529 亿元,同比增长 12.8%。 另外，国家水网骨干工程、高标准农田建设、城市供水管网改造等重 大现代化基础设施体系建设的大力推进，涉水领域建设投资将继续保持 高位，今后较长时期内管道行业市场需求仍将稳步增长，公司主营业务 所属行业仍将在较长时间内处于景 ...

Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company reported a revenue of 18.837 billion yuan for 2024, a year-on-year increase of 0.72%, with a net profit attributable to shareholders of 655 million yuan, up 3.77% year-on-year [2] - The company aims to become a leading automotive parts manufacturer by enhancing R&D and expanding strategic partnerships with major clients [5] - The company is focusing on international market expansion, particularly in Europe, through its Morocco base [7] Revenue Growth - The company's revenue for 2024 was 188.37 billion yuan, with a year-on-year growth of 0.72%. The revenue from automotive metal and plastic parts was 171.12 billion yuan and 11.11 billion yuan, respectively, with year-on-year changes of +2.78% and -15.13% [3] - The increase in revenue is attributed to a shift towards high-value-added products, despite a decrease in the production and sales volume of automotive metal parts [3] Profitability and Cost Control - The company's gross margin for 2024 was 17.60%, an increase of 1.26 percentage points year-on-year. The gross margins for automotive metal and plastic parts were 17.88% and 14.97%, respectively [4] - The company has effectively controlled sales expenses, with a decrease in the sales/management expense ratio by 0.30 percentage points and an increase in R&D expense ratio by 0.16 percentage points [4] Innovation and Transformation - The company is committed to innovation and transformation, focusing on lightweight, integrated technology development, and expanding its product offerings [5] - The company secured new orders totaling 51 billion yuan, with lifecycle project values exceeding 35 billion yuan for automotive metal parts [5] International Expansion - The company is enhancing its international business management and quality control, particularly in Germany and Mexico, while actively developing the Southeast Asian market [6][7] - The establishment of a production base in Morocco aims to expand market share in Europe and North Africa [7] Financial Forecast - The company maintains its revenue forecasts for 2025 and 2026, with expected revenues of 21.495 billion yuan and 23.600 billion yuan, respectively, and net profits of 948 million yuan and 1.050 billion yuan [8] - The projected earnings per share (EPS) for 2025, 2026, and 2027 are 1.01 yuan, 1.12 yuan, and 1.21 yuan, respectively [8]