"公司高度重视投资者回报，自2009年至今，已连续16年进行现金分红，2024年度进行了两次分红， 2025年度已完成中期分红，2025年三季度分红预案今天股东会已审议通过。2026年度公司将会结合实际 的经营发展为投资者提供持续、稳定的现金分红方案，每年以现金方式分配的利润在当年实现的可分配 利润的50%以上，分红次数不少于两次。"富维股份介绍，公司于2025年4月发布了估值提升计划，制定 了明确的措施并逐项推进执行。目前公司在市场开发方面已经有所突破，新接订单情况陆续发布自愿性 披露公告；同时开展与低空经济及机器人产业相关公司的战略合作；推动主要股东增持。多渠道投资者 交流活动也都按计划进行。公司董事会及经管层将一如既往地深耕主业，保持经营业绩稳健发展。 在回答投资者提问时，富维股份表示，富维镁合金业务当前主要聚焦汽车零部件领域进行业务拓展，一 阶段采用半固态成型工艺对支架类产品进行产业化，二阶段针对镁合金轮毂类产品形成实验验证能力。 后续伴随着公司能力逐步提升及市场需求不断增加，公司也会择机逐步向镁合金轮毂、低空经济、具身 智能、两轮及三轮自行车/电动车及3C电子等领域进行业务拓展布局。 谈及公司的机器 ...

Summary of Mingyang Technology Conference Call Company Overview - Mingyang Technology primarily engages in the production of automotive seat components, including height and angle adjustment mechanisms and armrests. Over 95% of its orders come from the new energy vehicle sector, with significant sales growth in the first quarter of 2025, although the overall growth rate for the year is expected to remain consistent with 2024 [2][3][4]. Industry Dynamics - The domestic market for new energy vehicles is experiencing intensified competition, leading to increased pressure on product pricing and cash flow due to shortened supply chain payment terms. This necessitates accelerated innovation and process improvements within the company [2][3][4]. - The automotive parts industry is facing a price reduction pressure of approximately 6% annually from clients, which is impacting profit margins. Mingyang Technology is responding by reducing costs, enhancing capacity utilization, and controlling personnel growth to maintain gross and net profit levels [4][19]. Key Products and Innovations - Mingyang Technology is focusing on the development of PEEK materials as an upgrade to traditional self-lubricating bushings, which are currently made from PTFE. PEEK materials are environmentally friendly and have broader application potential in robotics and medical devices. The company has completed initial parameter and process validation and anticipates breakthroughs in 2025 [2][5][7][12][16]. - The company’s assembly design includes small components such as home door dampers and automotive armrest angle adjusters, with a target production capacity of approximately 30 million yuan for 2025, expecting significant growth in the third or fourth quarter [2][15][14]. Financial Performance and Projections - For 2025, the company expects revenue of around 300 million yuan, with production capacity achieving approximately 205 million yuan. The projected total output value for 2026 and 2027 is around 500 million yuan [17][28]. - The gross margin for the company is currently at 43%, with a net profit margin of 26%. Despite a slight increase in net profit margin, the gross margin has decreased due to ongoing price pressures [19]. Strategic Focus and Future Directions - Mingyang Technology plans to continue focusing on automotive seat components, enhancing R&D investment, and accelerating new product development to meet evolving market demands. The company aims to expand into new applications such as smart seating systems [6][30]. - The company is also exploring opportunities in non-automotive sectors, particularly in powder metallurgy and metal injection, which have applications in engineering machinery, medical devices, and robotics [28][30]. Challenges and Responses - The company faces challenges in maintaining gross margins due to client price reductions and fluctuating raw material costs. To counter these challenges, Mingyang Technology is optimizing its product structure and improving production efficiency [18][19]. - The company is also addressing the issue of short order cycles by maximizing the utilization of existing resources rather than increasing personnel or equipment, which could negatively impact margins [20]. Customer Base and Market Position - Mingyang Technology primarily serves new energy vehicle models, with over 90% of its orders coming from this segment. Major clients include Yanfeng, with orders from leading brands like BYD, Tesla, and Huawei [4][21][22]. - The company has successfully developed domestic alternatives to imported components, which are priced competitively while maintaining good profit margins, positioning itself favorably in the market [33]. Conclusion - Mingyang Technology is strategically positioned in the automotive seat component sector, focusing on innovation and efficiency to navigate competitive pressures and market dynamics. The company is committed to expanding its product offerings and exploring new markets while maintaining a strong emphasis on R&D and operational excellence [35][36].