近期四方达（300179）频繁接待机构投资者调研。两个月来，相关调研记录公告已达六次。 1月22日晚间该公司披露的投资关系活动记录显示，市场关注热点聚焦于该公司产品在金刚石散热领域 及PCD微钻产品进展等。 四方达专注于金刚石领域的研究和开发，聚焦CVD金刚石产业链技术，自主研发的MPCVD合成及加工 设备和CVD金刚石工艺用于生产高品质大尺寸超纯CVD金刚石，并形成了多项专利。 对于PCD微钻产品，四方达表示，公司高度重视相关产品的研发，目前已具备生产适用于特定需求的微 钻钻针的能力。公司生产的PCD微钻钻头，具有寿命长、加工精度高及光洁度好等特点，随着PCD微钻 钻头产业的不断发展，可逐步降低国内高端制造业对进口精密及超精密加工工具的依赖，公司目前也在 持续关注PCD微钻在PCB板等高端制造领域的应用方向，同时积极探索和优化相关产品的性能。 对于公司资源开采类产品和精密加工类产品的市场趋势，四方达表示，资源开采/工程施工类产品，从 国内来看，中国经济回升向好，推动国内原油和天然气消费量总体保持增长，国内油田服务市场保持良 好回暖趋势，预计国内石油复合片下游需求将持续回升；从国外来看，因受市场需求不确定性、 ...

投资者关系活动记录表 编号：2026-002 | | 特定对象调研 ☑ | □分析师会议 | | | --- | --- | --- | --- | | 投资者关系活动 | □媒体采访 | □业绩说明会 | | | 类别 | □新闻发布会 | □路演活动 | | | | □现场参观 | □一对一沟通 | | | | 其他（电话会议） ☑ | | | | | 南方基金 李金哲 国海证券 孟美辰 | | | | 参与单位名称及 | | | | | 人员姓名 | 易方达基金 胡硕倬 | | | | | 财通证券 孟欣 | | | | | 浙商证券 曹馨茗 | | | | 时间 | 2026 年 1 月 22 日下午 | 15:00-16:00 | | | 地点 | 公司会议室结合线上会议 | | | | 上市公司接待人 | 董事会秘书兼财务总监 | 李炎臻 | | | 员 | 职工董事兼证券事务代表 | 杨易硕 | | | | 一、公司在金刚石散热领域的进展情况？ | 与相关人员就其关心的问题进行交流，以下为会谈纪要： | | | | | 金刚石具有禁带宽大、击穿场强高、热导率高等优点，可用于光 | | | 投资者 ...

Summary of the Conference Call for Sifangda (2025 Q3) Company Overview - **Company**: Sifangda - **Industry**: Cultured Diamonds, Precision Machining, Oil Composite Sheets Key Points Financial Performance - **Revenue Growth**: Significant increase in revenue from the cultured diamond business, rising from millions to over 30 million [2][3] - **Profit Decline**: Profit decreased due to falling prices of cultured diamonds and increased inventory, leading to a provision for impairment of 30 million [2][3] - **Cumulative Impairment**: Total impairment provision reached 97 million, with expectations of reduced future impairment risks [2][5] Business Segments - **Cultured Diamonds**: - Revenue contribution exceeded 30 million, but profit was negatively impacted by market price declines and inventory accumulation [6] - Impairment provisions of 30 million in the first three quarters of 2025, with a total of 97 million since inception [5][6] - **Precision Machining**: - Significant profit improvement through product and customer structure optimization, focusing on high-margin products and major clients [7] - Management optimistic about future revenue and profit growth [7] - **Oil Composite Sheets**: - High contribution to overall revenue and profit, with over 40% of revenue from exports, half of which is to the U.S. [9] Cash Flow and Financial Management - **Operating Cash Flow**: Declined year-on-year due to shortened financing cycles and increased payment pressures, but expected to normalize in the future [8] - **Cost Management**: Anticipated decrease in raw material costs for hard alloy business due to procurement of micro-powder [18] Market and Regulatory Environment - **Tariff Risks**: U.S. tariff uncertainties impacted export business; the company implemented strategies to mitigate risks, including early shipping and local supply adjustments [9][10] - **Globalization Strategy**: Adjusted global layout with regional management to better meet market demands and enhance competitiveness [10][11] Future Outlook - **Revenue and Profit Expectations**: Optimistic outlook for revenue growth and profit improvement, with expectations of price stabilization and potential increases in the future [14][15] - **Technological Developments**: Ongoing advancements in diamond material applications, particularly in thermal management, with plans to disclose results when significant [13][19] Additional Insights - **Client Demand Analysis**: Enhanced understanding of client needs led to increased monthly revenue by 800,000 to 1 million [12] - **Impact of Export Controls**: National export controls on superhard materials and rare earths are expected to benefit the domestic materials industry, with no substantial impact on Sifangda's cultured diamond business [16][17] This summary encapsulates the key insights and developments discussed during the conference call, providing a comprehensive overview of Sifangda's current performance and future strategies.