Core Insights - The live streaming event for fastener products in Yongnian District showcased the local leading enterprise, Hebei Tailian Fastener Group, promoting its products and sharing industry experiences, which highlighted the effectiveness of government platforms in supporting local businesses [1][2] - The innovative "industry promotion + government service" live streaming model created a cost-free, high-credibility platform for local fastener companies, allowing them to present their core products and brand stories while receiving tailored policy explanations from administrative departments [1][2] Summary by Sections - **Event Overview** - The live streaming attracted over a thousand viewers and received 12,000 likes, demonstrating its popularity and effectiveness in promoting local industry [1] - **Government Support** - The Yongnian District Administrative Approval Bureau developed a new model that integrates product promotion with government services, enhancing the visibility of the fastener industry and providing essential information on business operations [1][2] - **Benefits to Businesses** - The model allows companies to save on promotional costs while effectively communicating their brand stories, thus enhancing the regional industrial reputation [2] - Real-time answers to inquiries and simplified explanations of administrative processes help businesses navigate regulatory requirements more efficiently [2] - **Future Plans** - The Yongnian District Administrative Approval Bureau plans to deepen the integration of government services with the fastener industry, focusing on tailored policy explanations and continuous support for high-quality development [2]

Investor Presentation Version 2.17.2026 Contents | . | | --- | | . | | . | | 】【 】 【 】 】 】 】 【 】 】 】 】 【 】 【 】 】 】 】 】 【 】 【 】 【 】 【 】 【 】 【 】 【 】 【 】 【 】 【 】 【 】 】 】 】 】 】 】 】 】 【 】 【 】 】 】 】 】 | | . | | Contacts | | --- | Michael Wherley Vice President, Investor Relations 860-827-3833 michael.wherley@sbdinc.com Christina Francis Senior Director, Investor Relations 860-438-3470 Engineered Fastening Pages 20 – 22 Appendix Pages 23 – 31 christina.francis@sbdinc.com 1000 Stanley Drive New Britain, CT 06053 inv ...

Core Viewpoint - The Chongqing Municipal Market Supervision Administration has released a report on the quality supervision and inspection of 13 products, including fireworks and firecrackers, revealing that 67 batches of products were found to be non-compliant in 2025 [2][3]. Group 1: Inspection Results - A total of 67 batches of products were identified as non-compliant, including 11 batches of fireworks and firecrackers, 3 batches of architectural coatings, 3 batches of waterproof coatings, 4 batches of pavement bricks, and various other products [3][10]. - Specific non-compliance issues for fireworks included drug quantity, measurement errors, ignition line firmness, ignition time, and performance during discharge [4]. - Non-compliance in architectural coatings involved the bonding strength of interior wall putty [5]. - For waterproof coatings, issues included solid content, tensile strength, elongation at break, tear strength, water absorption, and volatile organic compounds (VOC) [6]. - Pavement bricks failed to meet wear resistance standards [7]. - Other products such as concrete bricks, tiles, plugs, sockets, high and low voltage equipment, and fire safety products also had various non-compliance issues [9][10]. Group 2: Regulatory Actions - The Market Supervision Administration will enforce measures such as sealing and confiscating non-compliant products, and will require manufacturers and sellers to implement corrective actions [10][11]. - Companies found to be in violation may face legal consequences, including referral to judicial authorities if criminal activities are suspected [10]. - The administration emphasizes the importance of quality safety management, requiring companies to appoint quality safety supervisors and establish risk control lists [10].

Group 1 - The core point of the news is that Feiwo Technology's stock price has dropped by 5.31% to 199.96 CNY per share, with a trading volume of 646 million CNY and a turnover rate of 7.03%, resulting in a total market capitalization of 15.029 billion CNY [1] - Feiwo Technology, established on July 20, 2012, and listed on June 15, 2023, is located in Changde City, Hunan Province, and specializes in the research and manufacturing of high-strength fasteners, providing comprehensive fastening system solutions. The main business revenue composition is 90.41% from fasteners, 7.47% from other sources, and 2.13% from components [1] Group 2 - Among the top circulating shareholders of Feiwo Technology, a fund under China Merchants Fund, the China Merchants Quantitative Selected Stock Fund A (001917), has entered the top ten circulating shareholders in the third quarter, holding 811,300 shares, which accounts for 1.82% of the circulating shares. The estimated floating loss today is approximately 9.1024 million CNY [2] - The China Merchants Quantitative Selected Stock Fund A (001917) was established on March 15, 2016, with a latest scale of 3.692 billion CNY. Year-to-date returns are 6.25%, ranking 2237 out of 5569 in its category; the one-year return is 41.72%, ranking 1371 out of 4295; and since inception, the return is 303.49% [2]

Company Overview - Feiwo Technology, established on July 20, 2012, is located in the city of Changde, Hunan Province, and was listed on June 15, 2023. The company specializes in the research and manufacturing of high-strength fasteners and provides comprehensive fastening system solutions, recognized as a national high-tech enterprise [1]. Financial Performance - As of February 10, Feiwo Technology's stock price decreased by 5.26%, trading at 218.89 CNY per share, with a total transaction volume of 274 million CNY and a turnover rate of 2.73%. The company's total market capitalization stands at 16.452 billion CNY [1]. Revenue Composition - The revenue composition of Feiwo Technology is as follows: fasteners account for 90.41% of total revenue, other products contribute 7.47%, and components make up 2.13% [1]. Shareholder Information - Among the top circulating shareholders of Feiwo Technology, a fund under China Merchants Fund, specifically the China Merchants Quantitative Selected Stock Fund A (001917), entered the top ten shareholders in the third quarter, holding 811,300 shares, which represents 1.82% of the circulating shares. The estimated floating loss for this fund today is approximately 9.8569 million CNY [2]. Fund Manager Profile - The fund manager of China Merchants Quantitative Selected Stock Fund A is Wang Ping, who has a cumulative tenure of 15 years and 238 days. The fund's total asset size is 21.446 billion CNY, with the best return during his tenure being 304.6% and the worst return being -70.61% [3].

Group 1 - China successfully launched a reusable experimental spacecraft, with institutions predicting that the global commercial space market will reach $800 billion by 2030. A specific company has already established long-term supply of fasteners to commercial space enterprises [1] - Tesla plans to expand solar cell production domestically, with institutions estimating that the global space photovoltaic market will approach $1 trillion by 2030. A particular company holds a leading international market share in single crystal furnaces for photovoltaic equipment and can provide smart unmanned factory solutions [1] - A specific company has produced the first mass-produced unit of its smart walking robot [1]

Core Viewpoint - The company, Chaojie Co., Ltd. (301005.SZ), has indicated that its products in the humanoid robot sector primarily include fasteners and precision machined parts, with some small batch samples and formal orders obtained from certain clients, although specific client information cannot be disclosed. However, this business segment contributes very little to the company's overall revenue, thus having a minimal impact on its financial performance [1]. Group 1 - The company is involved in the humanoid robot field, focusing on products such as fasteners and precision machined components [1]. - The company has secured small batch samples and formal orders from some clients, but details about these clients are not disclosed [1]. - The revenue contribution from this humanoid robot business is very low, resulting in a limited effect on the company's overall performance [1].

Core Viewpoint - Zhejiang Huayuan's stock price increased by 2.57% on January 27, with a trading volume of 227 million yuan, indicating positive market sentiment towards the company [1]. Financing Summary - On January 27, Zhejiang Huayuan had a financing buy-in amount of 26.26 million yuan and a financing repayment of 41.05 million yuan, resulting in a net financing outflow of 14.79 million yuan [1]. - As of January 27, the total balance of margin trading for Zhejiang Huayuan was 184 million yuan, with the current financing balance at 183 million yuan, accounting for 10.45% of the circulating market value [1]. - The company had no shares sold or repaid in the securities lending market on January 27, with a remaining quantity of 15,200 shares and a margin balance of 417,800 yuan [1]. Company Overview - Zhejiang Huayuan Automotive Technology Co., Ltd. was established on January 16, 2002, and is located in Wenzhou, Zhejiang Province. The company specializes in the research, production, and sales of customized automotive system connectors [1]. - The main revenue composition of Zhejiang Huayuan includes fasteners (60.41%), locks (37.49%), and other supplementary products (2.09%) [1]. Financial Performance - For the period from January to September 2025, Zhejiang Huayuan achieved an operating income of 541 million yuan, representing a year-on-year growth of 18.64%. The net profit attributable to the parent company was 78.95 million yuan [1]. Shareholder Information - As of January 20, 2025, the number of shareholders for Zhejiang Huayuan was 10,400, a decrease of 12.21% from the previous period. The average circulating shares per person increased by 13.91% to 6,120 shares [1]. - After its A-share listing, Zhejiang Huayuan has distributed a total of 92.71 million yuan in dividends [2]. - As of September 30, 2025, the largest circulating shareholder was Hong Kong Central Clearing Limited, holding 678,800 shares, an increase of 302,800 shares from the previous period [2].

Core Viewpoint - Tenda Technology (SZ001379) experienced a trading halt with a price increase of 10.01% to 25.6 yuan, driven by strong financial performance, cash dividends, and effective fund management [1][2]. Financial Performance - The company has a stable cash dividend policy, distributing 1 yuan per 10 shares, totaling 20 million yuan, which accounts for 31.6% of net profit, indicating a healthy cash flow situation [2]. - For the first three quarters of 2026, the company's net profit excluding non-recurring items reached 60.37 million yuan, a year-on-year increase of 34.95% [2]. - The net cash flow from operating activities was 83.4 million yuan, showing a significant year-on-year increase of 522.91%, reflecting strong profitability and cash recovery capabilities [2]. Fund Management - Tenda Technology has a foreign exchange derivative trading limit of 2 billion yuan for hedging against foreign exchange risks, effectively managing currency fluctuation risks [2]. - The company utilized 600 million yuan of idle funds for cash management, enhancing fund utilization efficiency [2]. - The expected total amount of related party transactions in 2026 is projected to decrease by 22.8% compared to 2025, which reduces dependency risks on related transactions [2]. Industry Outlook - The fastener industry has extensive applications in high-speed rail, nuclear power, and new energy sectors, suggesting potential growth in demand as these industries develop [2]. Market Sentiment - Although direct technical indicators were not available, the influx of market funds likely contributed to the stock price increase, indicating strong investor interest [2]. - The company's governance structure appears to be sound, as evidenced by key proposals related to financing limits, which enhances investor confidence [2].

Financial Data and Key Metrics Changes - Fastenal achieved net sales of $2.03 billion in Q4 2025, an increase of 11% year-over-year, with net income rising 12.2% to $294.1 million and earnings per share at $0.26 [8][9] - For the full year 2025, record annual sales reached $8.2 billion, up nearly 9% from 2024, with net income of $1.26 billion, reflecting a 9.4% increase [8][9] - Operating cash flow was approximately $370 million, representing 125% of net income, indicating strong cash generation [24] Business Line Data and Key Metrics Changes - The number of Active 50K Plus Sites rose 14% year-over-year, with these sites now accounting for over half of total revenues [9][10] - Fastenal's fastener product line growth outpaced non-fastener categories, driven by successful signings of large customers and improved product availability [19] - E-business sales grew 6.4% year-over-year, accounting for about 30% of total sales, while combined e-business and FMI technology sales represented 62.1% of total Q4 sales [14][15] Market Data and Key Metrics Changes - The U.S. economy showed mixed signals in Q4, with PMI averaging in the low 48s and industrial production close to flat compared to last year [17] - Sales to manufacturing markets outperformed other segments, with heavy manufacturing customers growing at double-digit rates [11][19] - Customer sentiment remained favorable despite trade and tariff uncertainties, contributing to the strong daily sales growth of over 11% [18] Company Strategy and Development Direction - Fastenal's strategy focuses on increasing sales effectiveness, enhancing services, and expanding market reach, particularly in manufacturing, construction, government, and transportation sectors [6][11] - The company aims to deepen relationships with key accounts and expand its digital footprint through FMI technology and e-commerce solutions [6][14] - Future growth objectives include increasing sales effectiveness, enhancing service, and expanding the total addressable market, with a vision of becoming a $15 billion organization [41] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges in industrial production but expressed confidence in achieving double-digit net sales growth in 2026, supported by FMI technology and digital solutions [36] - The company noted that while December saw below-normal sequential growth due to holiday shutdowns, January showed a normalization of operations [88] - Management emphasized the importance of maintaining profitability through disciplined pricing strategies and effective cost management [20][31] Other Important Information - Fastenal returned over $1 billion in dividends for the full year 2025, reflecting confidence in cash generation and commitment to shareholder returns [26] - The company plans to increase capital expenditures to approximately 3.5% of net sales in 2026, focusing on growth and efficiency [25] Q&A Session Summary Question: Is the double-digit net sales growth in 2026 guidance? - Management clarified that it is not guidance but reflects momentum and confidence in execution [45] Question: Can you elaborate on the broader economic assumptions underpinning the growth target? - Management refrained from providing specific pricing details but expressed confidence in executing their strategy despite past inaccuracies [48][49] Question: What was the impact of rebate timing factors on Q4 results? - Management explained that the rebate impact was lower than expected, with a negative true-up affecting gross margins [52][54] Question: Are large heavy manufacturing markets stabilizing? - Management indicated that there is no significant decline in manufacturing usage year-over-year, but growth remains flat [72] Question: How does the company view pricing expectations for 2026? - Management suggested that there will be some carryover pricing impacts, but specifics remain uncertain due to various market dynamics [92]