证券代码：300950 证券简称：德固特 青岛德固特节能装备股份有限公司 投资者关系活动记录表 编号：2025-005 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 ☑ 其他（投资者说明会） 参与单位名称 及人员姓名 线上参与公司终止筹划重大资产重组投资者说明会的全体投资者 时间 2025 年 12 月 09 日 15：00-17：00 地点 价值在线（https://www.ir-online.cn/）网络互动 上市公司接待 人员姓名 董事长 魏振文 董事、总经理 宋超 董事、副总经理、财务总监、董事会秘书 高琳琳 独立财务顾问代表 标的公司代表 投资者关系 活动主要内 容介绍 1、 1、公告提及终止原因是"交易价格、交易方案等核心条款未达成一致"， 能否具体说明双方的核心分歧点是什么？是交易对价的估值差异（比如公 司与交易对方对浩鲸云的估值预期差距大概多少），还是支付方式、业绩 承诺等方案设计层面的分歧？2、此次重组从筹划到终止历经了多长时 间？在终止前，公司是否已完成对浩鲸云的初步尽调？尽调过程中是否发 现标的方存在业绩真实性、资产瑕 ...

Group 1: Company Orders and Financial Performance - The company has a total order backlog of 5.58 billion CNY as of June 30, 2025, with overseas project orders amounting to 2.30 billion CNY, accounting for 41.22% of the total [2] - The year-on-year growth of the order backlog is 8.35% [2] Group 2: Profitability and Market Position - The company's gross profit margin has improved due to its ongoing internationalization strategy, leveraging technical strength, quality, and service advantages [3] - The company has established a global sales network, enhancing its market coverage and customer base, which supports continuous growth in export business [3] Group 3: Competitive Advantages - The company possesses significant competitive advantages in the ultra-high temperature heat exchange sector, including material, design, and process superiority [4] - High manufacturing barriers and strict quality assurance systems contribute to stable market share, as customers prioritize product quality [4] Group 4: Product Applications and Market Expansion - The company's carbon black equipment is applicable for the production of conductive and specialty carbon blacks, having supplied equipment to notable companies like Black Cat and Yongdong [5] - The expanding application space for conductive and specialty carbon blacks is expected to positively impact sales of the company's carbon black equipment [5] Group 5: Acquisition Progress - The company disclosed the acquisition of Haowei Technology on July 14, 2025, and is actively progressing with the transaction, although uncertainties remain regarding its final implementation [6]

Group 1 - The core viewpoint of the news is the acquisition of Haowei Cloud Computing Technology Co., Ltd. by Qingdao Degute Energy Equipment Co., Ltd., which is seen as a significant move due to the disparity in size between the two companies and the cross-industry nature of the deal [1][2] - Degute reported impressive financial results for 2024, with a revenue of 509 million yuan, a year-on-year increase of 64.21%, and a net profit of 96.71 million yuan, up 150.15% year-on-year. However, the company faced a 31.19% year-on-year revenue decline in Q1 2025, with net profit halved to 23.67 million yuan [2][3] - The acquisition aims to leverage Haowei's digital capabilities to drive the intelligent upgrade of industrial scenarios, as Degute seeks to find a second growth curve amid slowing demand in traditional high-energy-consuming equipment markets [2][4] Group 2 - Haowei Technology, previously known as ZTE Soft Creation, has a registered capital of 792 million yuan and employs 4,348 people, with a core business covering telecom software development, cloud management services, and industry digital solutions [3] - The market expresses skepticism regarding the technological compatibility between Degute and Haowei, as Degute's traditional client base is concentrated in heavy industries like chemicals and metallurgy, which overlaps minimally with Haowei's telecom and cloud service clients [4] - Analysts suggest that Haowei's digital technology could enhance Degute's product development precision, optimize production management, and improve after-sales service intelligence, potentially increasing the company's competitiveness [4]

Group 1: Financial Performance - In 2024, the company achieved a revenue of 509 million CNY, a year-on-year increase of 64.21% [1] - The net profit attributable to shareholders reached 96.71 million CNY, up 150.15% year-on-year [1] - In Q1 2025, the company reported a revenue of 125 million CNY, a quarter-on-quarter growth of 41.57% [1] - The net profit for Q1 2025, excluding non-recurring gains and losses, was 23.35 million CNY, reflecting a quarter-on-quarter increase of 1,117.11% [1] Group 2: Impact of Tariffs and Market Position - Revenue from exports to the U.S. accounts for approximately 5% of total revenue, indicating limited direct impact from the current tariff adjustments [1] - The company has established a strong international presence, exporting to over 30 countries, including the U.S., Canada, and Germany [4] - The company holds a leading position in the carbon black industry, with significant market share both domestically and internationally [4] Group 3: Product and Market Strategy - The company’s carbon black equipment is applicable for conductive and specialty carbon black production, enhancing sales potential as these markets expand [2] - The company maintains a gross margin of around 50% in overseas markets, significantly higher than domestic margins [3] - The company has a competitive edge due to its internationalization strategy, technical capabilities, and strong brand recognition [3][6] Group 4: Competitive Landscape - The main competitor in the international market is ARVOS Group, but the company differentiates itself through shorter delivery times and superior product quality [4] - The company has a robust quality assurance system and high manufacturing barriers, which help maintain market share against low-cost competitors [6]