（编辑 任世碧） 证券日报网讯 康斯特11月25日在互动平台回答投资者提问时表示，传感器是公司未来的重要业务线， 传感器垂直产业项目第一阶段侧重产能提升与产品迭代，在第二阶段将向数字型压力传感器及智能压力 变送器等现场测试终端产品拓展。为促进行业的高质量发展，公司的压力变送器产品定位是高端流程工 业且具备成本优势，目前正与同步进行样机阶段的产品设计，预计2026年底正式上市。 ...

Core Viewpoint - The company, Chuan Yi Co., Ltd. (川仪股份), has confirmed that its main products, including smart control valves, smart pressure transmitters, and smart flow instruments, can be applied in solar thermal molten salt power generation [1] Group 1: Product Application - The company's smart instruments are suitable for both solar thermal molten salt power generation and thorium-based molten salt reactor projects, which require automated instruments to monitor temperature, pressure, flow, and liquid levels [1] - Solar thermal molten salt power generation relies on solar energy collection, while thorium-based molten salt reactors depend on nuclear fission using thorium fuel, indicating significant differences in technical standards and safety requirements between the two technologies [1] Group 2: Customization Advantage - The company emphasizes its ability to leverage its "customization" advantage to provide tailored instrument products based on customer project conditions and equipment usage requirements [1]

Core Viewpoint - The company is focusing on enhancing production capacity and product iteration in the first phase of its sensor vertical industry project, with plans to expand into digital pressure sensors and smart pressure transmitters in the second phase [1] Group 1 - The first phase of the project emphasizes capacity enhancement and product iteration [1] - The second phase will target the development of digital pressure sensors and smart pressure transmitters for field testing [1] - The company aims to avoid low-end price competition by positioning its pressure transmitters in the high-end process industry while maintaining cost advantages [1] Group 2 - The company is currently in the prototype design stage for its products [1] - The official market launch of the products is expected by the end of 2026 [1]

Core Viewpoint - The report indicates a decline in revenue and net profit for Chuan Yi Co., with a focus on maintaining core business operations and enhancing technological innovation to navigate industry challenges [2][4]. Financial Performance - For the first half of 2025, Chuan Yi Co. reported revenue of 3.281 billion yuan, a decrease of 12.37% year-on-year, and a net profit of 325.6 million yuan, down 10.46% year-on-year. The net profit after deducting non-recurring items was 268.3 million yuan, reflecting a 14.66% decline [2][3]. - The company's R&D expenses amounted to 230.9 million yuan, representing 7.04% of total revenue [2]. Business Segments - The main business segments include: - Industrial automation control systems and engineering, accounting for 86.82% of revenue. - Electronic information functional materials and devices, contributing 12.43% to revenue [2]. - Revenue from industrial automation instruments and devices was 2.849 billion yuan, with a gross margin of 34.62%, showing a slight increase of 1.71 percentage points year-on-year [9]. Market Strategy - The company is focusing on enhancing marketing strategies by improving professional marketing and service teams, and expanding cooperation with major clients and projects. New orders decreased by 9% year-on-year, but specific markets like nuclear power and water resources saw significant growth in new orders [6][7]. - Chuan Yi Co. is actively exploring new industries and markets, including smart execution products in irrigation and drinking water projects, and has secured orders in the nuclear power sector [7]. Innovation and Development - The company is accelerating innovation by increasing R&D investments and upgrading core products. It aims to align with international standards and enhance product reliability and applicability in special conditions [4]. - Chuan Yi Co. has made progress in digital transformation and lean management, establishing multiple smart production lines and digital workshops to improve operational efficiency [8].

Core Insights - The company reported a revenue of 3.281 billion yuan and a net profit of 325 million yuan for the first half of the year, demonstrating resilience amid industry challenges [1][2] Group 1: Financial Performance - The company achieved an operating income of 3.281 billion yuan and a net profit attributable to shareholders of 325 million yuan in the first half of the year [1] - R&D expenses amounted to 231 million yuan, representing 7.04% of operating income [2] Group 2: R&D and Innovation - The company is focusing on technological innovation, with 20 ongoing national and provincial-level projects and the completion of three project verifications [2] - A total of 74 new patents were granted, bringing the total number of effective patents to 1,158 and software copyrights to 397 [2] Group 3: Market Strategy - The company is optimizing its marketing strategy by enhancing professional marketing and service team construction, improving order acquisition capabilities [2] - New signed orders in specific markets such as nuclear power, fine chemicals, non-ferrous metals, and water conservancy increased by 38% to 64% [2] Group 4: Digital Transformation - The company is accelerating its digital transformation and lean management initiatives, enhancing overall efficiency and operational effectiveness [2] - The "Smart Chuan Yi" project has led to the establishment of 48 smart production lines and 9 digital workshops, improving quality assurance and manufacturing capabilities [2]

Core Viewpoint - China National Petroleum Corporation (CNPC) showcased multiple cutting-edge technologies and equipment at the 25th China International Petroleum and Petrochemical Technology Equipment Exhibition (CIPPE 2025), emphasizing its strength in energy equipment and commitment to innovation and service [3][4]. Group 1: Exhibition Overview - The CIPPE 2025 opened on March 26 in Beijing, attracting nearly 2,000 companies from 75 countries and regions [3]. - CNPC has participated in CIPPE for 14 consecutive years, with 13 companies in its exhibition group [3]. - Kunlun Manufacturing Co., Ltd. (Kunlun) displayed the most physical products and models at the exhibition, showcasing 148 energy equipment products and 18 integrated service solutions [3][5]. Group 2: High-end Equipment and Innovations - The exhibition featured numerous self-innovated high-end equipment products, including the 12,000-meter automated drilling rig for deep wells and other significant drilling machinery [4]. - Key products included the 10,000-meter top drive and specialized pumps for liquid transportation, demonstrating their application in various oil and coal fields [4]. Group 3: New Image and Product Design - Over 30% of the products showcased by Kunlun were newly designed, reflecting a comprehensive upgrade in production processes [6]. - The "Three Dragons" product series was introduced, consisting of heavy industrial equipment ("Red Dragon"), intelligent technology products ("White Dragon"), and auxiliary equipment ("Green Dragon") [6]. Group 4: Green and Intelligent Development - The trend towards green and intelligent energy equipment is accelerating, with Kunlun focusing on new energy and digital transformation [7]. - Products related to low-carbon solutions, such as energy storage systems and hydrogen utilization, were highlighted, alongside intelligent manufacturing innovations like automated fueling robots [7]. - CNPC aims to enhance national energy security through intelligent and green manufacturing, contributing to national modernization and rejuvenation efforts [7].