证券代码：000333 证券简称：美的集团 美的集团股份有限公司投资者关系活动记录表 编号：2025-5 | | □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 | | 参与单位名称 | 资者网上提问 | | 时间 | 2025 年 9 月 19 日 | | 地点 | "全景网"投资者关系互动平台（https://ir.p5w.net） | | 上市公司接待 | 方洪波（董事长兼总裁）、钟铮（副总裁、首席财务官兼财务 | | 人员姓名 | 总监）、高书（董事会秘书） | | | 1. 公司未来分红规划？ | | | 尊敬的投资者，您好，感谢您的建议。公司将通过现金分红、回购等 | | | 多种方式，维护股东权益，保障持续稳定的分红政策。美的集团自 2013 | | | 年整体上市以来，累计派现金额超过 1340 亿元，同时累计实施的股份回购 | | | 已超过 亿元，与全体股东共享公司经营成果。 330 | | | 2. 预期人形机器人在未来几年会逐步进入家庭 ...

Core Insights - The industrial sector is responsible for 68% to 69% of China's total carbon dioxide emissions, making it crucial for achieving carbon neutrality goals [2] - The direct emissions from the industrial sector account for approximately 62%, while indirect emissions from purchased heat and electricity make up 38% [2] - Industrial heating contributes to about 50% of the total national emissions, highlighting the urgent need for low-carbon transformation in industrial heating systems [2] Group 1: Industrial Emissions Overview - In 2022, carbon emissions from obtaining heat and electricity reached 6.62 billion tons, accounting for 83% of total industrial emissions, with direct combustion contributing 4.97 billion tons [2] - If the low-carbon transformation of regional heating systems is achieved, it is estimated that carbon emissions in the Yangtze River Delta could be reduced by approximately 12 million tons per year by 2030 [3] Group 2: Technological Pathways for Transformation - Current coal-fired boiler heating has a carbon emission intensity 1.6 to 1.8 times higher than that of combined heat and power (CHP) systems, while gas boilers are slightly lower than coal CHP [4] - Low-temperature industrial heat pumps currently outperform coal CHP under existing electricity carbon intensity, and high-temperature heat pumps will show better emission reduction benefits as the proportion of green electricity increases [4] Group 3: Strategies for Achieving Zero Carbon Goals - To achieve comprehensive zero-carbon goals in industrial heating, multiple technological pathways must be pursued simultaneously, including increasing the proportion of electricity in terminal energy consumption from 28%-29% to over 50% [5] - The total scale of industrial boilers in China is 3.52 billion kilowatts, equivalent to the total installed capacity of the national power grid, indicating a need for a gradual transition strategy [5] - The dual approach of increasing the proportion of green electricity and developing green fuel alternatives is essential for achieving zero-carbon targets in industrial heating systems [5][6]

Core Viewpoint - Shanghai is actively exploring innovations in the green low-carbon sector, focusing on optimizing the business environment for green low-carbon industries to build a competitive industrial system and a green economic growth hub [1] Group 1: Clean Energy Innovations - The company Shanghai Fuzhijie Technology Co., Ltd. is implementing innovative practices in clean energy, proposing three main pathways: utilizing waste heat from sewage and sludge, producing and storing green hydrogen from sewage and sludge, and converting urban organic solid waste into green fuel [1][2] - The energy structure in China is rapidly transitioning towards non-fossil energy, with expectations that by 2050, non-fossil energy will account for over 70% of the energy mix [1] Group 2: Heat Pump Technology - Heat pump technology is highlighted for its potential in utilizing low-grade heat, capable of converting low-temperature heat into high-quality energy, particularly effective in applications below 200°C [2] - A case study of a sewage treatment plant with a daily capacity of 200,000 tons shows that extracting a temperature difference of just 5°C can yield over 1.16 million kWh of thermal energy, significantly reducing carbon emissions from fossil fuels [2] Group 3: Hydrogen Production and Storage - The company has developed a full-chain solution for hydrogen production and storage from urban sewage, utilizing solid-state hydrogen storage technology to safely store and release hydrogen at ambient temperature and low pressure [2][3] - The world's first full industrial chain application project for hydrogen production from sewage and sludge has been established at the Shanghai Bailong Port sewage treatment plant, receiving recognition from the United Nations Industrial Development Organization and local authorities [3] Group 4: Green Fuel Production - The company emphasizes the potential of sludge and waste as green fuel materials, aligning with international goals for near-zero emissions in shipping and increasing sustainable aviation fuel (SAF) in aviation [4] - Shanghai generates over 10,000 tons of wet waste daily, which could produce over 300 million tons of biogas annually through anaerobic fermentation, potentially yielding over 400,000 tons of green methanol if fully converted [4] - The proposed technology route for biogas conversion to green methanol aims to reduce costs by over 30% compared to mainstream international technologies, with plans to establish a pilot project in Shanghai [4] Group 5: Future Energy Landscape - The company aims to integrate urban environmental infrastructure with the hydrogen industry, expanding applications such as hydrogen refueling stations and combined heat and power systems [4][5] - The company plans to promote the transformation of urban sewage and waste treatment plants into energy factories through a triad of pollution control, energy conservation, and circular economy initiatives [4]

Core Insights - The collaboration between Finni and Zhang Mowen is prompting a deep reflection on brand image transformation in the heat pump industry as it moves towards mass consumer markets [1] - Finni has established a strong reputation for its technical expertise and reliability, being a national manufacturing champion with a significant global presence [1][4] - The challenge for Finni lies in converting its technical advantages into broader consumer recognition amidst increasing competition and diverse consumer demands [1][4] Group 1: Brand Image and Consumer Perception - Finni has maintained a leading position in heat pump exports for 17 consecutive years, showcasing its technical prowess with successful case studies like ultra-low temperature heat pumps in Tibet [1] - Zhang Mowen's strategic thinking may provide innovative solutions for Finni's brand image upgrade, leveraging emotional connections and relatable narratives [2][4] - The goal is to transform Finni from a "professional equipment manufacturer" to a "creator of a better life" by integrating emotional storytelling with its technological offerings [4] Group 2: Marketing Strategies and Innovations - Zhang Mowen's expertise in emotional marketing can help bridge the gap between complex technology and consumer understanding, making the brand more relatable [4][6] - Innovative communication strategies, such as engaging storytelling and collaboration with environmental organizations, can enhance Finni's brand visibility and appeal to younger consumers [6] - By focusing on scenario-based marketing, Finni can activate consumer demand across various applications, reinforcing its position as a "full-scenario solution expert" in the heat pump market [8] Group 3: Future Implications for the Industry - The partnership between Finni and Zhang Mowen represents a significant dialogue between technical value and consumer perception, potentially reshaping industry marketing practices [9] - The anticipated brand image transformation may inspire new marketing approaches within the heat pump sector, highlighting the importance of emotional engagement in technology-driven industries [9]