Group 1: Report Summary - The report is about a research on Mannster, a company in an unspecified industry, conducted on August 29, 2025 [1][16] - The company's mid - 2025 business situation was introduced, with revenue increasing and net profit decreasing compared to the previous year [23] - The company's overseas orders increased, and the construction of the global system achieved results [23] Group 2: Research Basic Information - The research object is Mannster, and the reception time is August 29, 2025. The reception staff includes the board secretary Peng Yalin and the securities affairs representative Xu Bijiu [16] Group 3: Detailed Research Institutions - Participating institutions include Guolian Minsheng Securities, Guohai Securities, Caitong Securities, Northeast Securities, Huatai Securities, etc [2][17] Group 4: Main Content Business Performance - Affected by the decline in new orders in 2024, the revenue and profit of coating application decreased in the first half of this year [23] - In the first half of this year, the company's revenue was 560.4829 million yuan, a year - on - year increase of 59.93%; the net profit attributable to shareholders of listed companies was - 23.5133 million yuan, a year - on - year decrease of 132.66% [23] - Overseas revenue in the first half of the year was 17.8781 million yuan, with a year - on - year growth rate of 146.51% [23] Reasons for Loss and Margin Changes - The decline in coating product gross margin was due to intensified market competition, cost - reduction pressure in the industry, and fluctuations in production capacity utilization [23] - As new orders are gradually delivered and production capacity utilization increases, the gross margin will improve [23] - The company's energy system business turned a profit, and the gross margin improved, supporting overall profits [24] Solid - State Equipment Progress - Solid/dry - process related equipment orders placed last year were sent to customers this year, and the commissioning and verification results were recognized by customers [24] - The company has rich experimental data and technical reserves in the wet - and dry - process layout and has obtained order verifications in multiple processes [24] Pan - Semiconductor Business Progress - The company launched a perovskite pilot platform and released a new vacuum coating equipment product this year [25] - The GW - level perovskite coating system was delivered in the first half of the year [25] - The company's panel display equipment passed customer verification and aims to develop more incremental business [25] Robot Business - The subsidiary Lanfang Technology has a small number of orders for micro - linear electric cylinders and has sent samples of electric grippers, but there is no substantial progress in dexterous hand products [25]

本次投资者关系活动中，公司董事会秘书彭亚林介绍了2025年中期经营情况。受2024年新增订单下滑影 响，上半年涂布应用类收入及利润下滑。不过，随着锂电产业链回暖，公司业绩呈现出不同态势。上半 年公司实现营业收入1.23亿元，同比增长59.93%；归属于上市公司股东的净利润为2351.33万元，同比 下降132.66%。海外订单方面，相比去年有所增加，上半年境外收入达1787.81万元，同比增速 146.51%，全球化体系建设成效初显。 在交流环节，机构投资者就公司多个业务板块提出问题： 1.上半年业绩与毛利率：上半年涂布应用类产 品毛利率为37.65%，下滑明显。主要因市场竞争及行业降本压力致产品单价降低，同时产能利用率波 动使单位生产成本升高。后续随着订单交付，产能利用率提升，毛利率有望改善。此外，固态/干法新 技术、泛半导体新业务前期投入加大，研发费用同比超80%，压缩利润空间，但能源系统类业务扭亏及 毛利率改善，对整体利润有支撑。 2.固态设备进展：去年固态/干法相关设备订单，今年陆续发往客户 现场，调试验证获认可。公司围绕干湿法双线布局，积累丰富实验数据与技术储备，多工序设备订单落 地，如陶瓷双螺杆设 ...

编号：2025-006 | | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | 投资者关系活 | □新闻发布会 □路演活动 | | 动类别 | □现场参观 | | | █其他（电话会议） | | 参与单位名称 | （以下排名不分先后） 东北证券、华泰证券、申银万国证券、博泽资本、国信证券、 中国银河证券、国泰海通、东吴证券、张家港高竹私募基金、 | | | 天风证券、太平洋证券、Amundi BOC、兴业证券、中信证券、 | | 及人员姓名 | 万和证券、华安证券、光大证券、耕霁投资、长江证券、鸿运 | | | 私募基金、华金证券、国联民生、国海证券、财通证券共计 | | 24 | 家机构。 | | 时间 2025 | 年 08 月 29 日 10:00 | | 地点 | 深圳市曼恩斯特科技股份有限公司会议室 | | 上市公司接待 | 董事会秘书：彭亚林 | | 人员姓名 | 证券事务代表：徐必玖 | | 投资者关系活 | 公司董事会秘书彭亚林先生简要介绍了公司 年中期 2025 | | 动主要内容介 | 经营情况。受 2024 年新增订单下滑影响，今年 ...