证券代码：300230 证券简称：永利股份 上海永利带业股份有限公司投资者关系活动记录表 编号：2025-003 | 投资者关系活动 | □特定对象调研 □分析师会议 | | --- | --- | | 类别 | □媒体采访 √业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单位名称及 | 投资者网上提问 | | 人员姓名 | | | 时间 | 2025 年 9 月 19 日（周五）15:00-17:00 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net）采用 | | | 网络远程的方式召开业绩说明会 | | 上市公司接待人 | 董事长：史佩浩先生 | | 员姓名 | 董事会秘书、财务总监：于成磊先生 | | | 证券事务代表：仲朦朦女士 | | | 投资者提出的问题及公司回复情况 | | | 公司就投资者在本次说明会中提出的问题进行了回复： | | | 1、请问董事长有没有回购计划，提升公司价值 | | | 答：您好，公司在做好经营管理提升经营绩效的同时重视市 | | | 值管理 ...

Group 1 - The core viewpoint of the news is that Yongli Co., Ltd. has shown a positive stock performance with a year-to-date increase of 20.87% and a recent market capitalization of 4.31 billion yuan [1] - As of August 29, the number of shareholders for Yongli Co., Ltd. is 25,500, which is a decrease of 4.42% compared to the previous period [2] - For the first half of 2025, Yongli Co., Ltd. achieved operating revenue of 1.141 billion yuan, representing a year-on-year growth of 17.01%, and a net profit attributable to shareholders of 113 million yuan, up 14.99% year-on-year [2] Group 2 - Since its A-share listing, Yongli Co., Ltd. has distributed a total of 951 million yuan in dividends, with 155 million yuan distributed over the past three years [3] - The company's stock price reached 5.30 yuan per share, with a trading volume of 37.69 million yuan and a turnover rate of 1.14% as of September 5 [1] - The company operates in the basic chemical industry, specifically in the production and sales of various lightweight conveyor belts [1]

Core Viewpoint - *ST Ai Ai (603580) reported a significant increase in revenue and net profit for the first half of 2025, indicating positive financial performance despite some declines in certain metrics [1]. Financial Performance Summary - Total revenue for the first half of 2025 reached 102 million yuan, a year-on-year increase of 17.52% compared to 86.9 million yuan in the same period of 2024 [1]. - Net profit attributable to shareholders was 9.165 million yuan, up 174.57% from 3.338 million yuan in the previous year [1]. - The second quarter alone saw total revenue of 54.4837 million yuan, an 8.31% increase year-on-year, with net profit of 3.7547 million yuan, up 78.33% [1]. Key Financial Metrics - Gross margin was 35.07%, a slight decrease of 1.65% year-on-year, while net margin improved significantly to 7.81%, an increase of 178.27% [1]. - Total expenses (selling, administrative, and financial) amounted to 19.9937 million yuan, accounting for 19.58% of revenue, down 27.89% from the previous year [1]. - Earnings per share rose to 0.07 yuan, a 174.9% increase from 0.03 yuan [1]. Balance Sheet Changes - Inventory increased significantly by 34.7% year-on-year [1]. - Cash and cash equivalents rose by 46.86% to 48.9392 million yuan [1]. - Accounts receivable surged by 82.97% to 104 million yuan, attributed to the consolidation of Tai Zhou Zhong Shi Xin starting June 2025 [3][4][5][10][12]. Cash Flow Analysis - Operating cash flow per share decreased by 62.51% to 0.03 yuan, indicating a decline in cash received from sales compared to the previous year [1]. - Net cash flow from investing activities dropped by 343.81%, primarily due to increased cash outflows related to the acquisition of Tai Zhou Zhong Shi Xin [13]. - Net cash flow from financing activities increased dramatically by 2152.54%, reflecting higher bank borrowings [13]. Operational Insights - The company’s net profit margin improved significantly from -6.17% in the previous year, indicating better operational efficiency [13]. - Historical data shows a median Return on Invested Capital (ROIC) of 8.82%, with the worst year being 2024 at -2.07%, suggesting a volatile business model [13].

Core Viewpoint - The report highlights the financial performance and operational developments of AA Industrial Belting (Shanghai) Co., Ltd. for the first half of 2025, showcasing significant growth in revenue and profit, alongside strategic acquisitions and market positioning in the lightweight conveyor belt industry [2][3][4]. Financial Performance - The company's operating revenue for the first half of 2025 reached approximately 102.12 million RMB, representing a 17.52% increase compared to the same period last year [2][3]. - Total profit amounted to approximately 9.33 million RMB, a substantial increase of 238.79% year-on-year [2][3]. - The net profit attributable to shareholders was approximately 9.16 million RMB, reflecting a 174.57% increase compared to the previous year [2][3]. - The company reported a significant decrease in net cash flow from operating activities, which was approximately 4.46 million RMB, down 62.51% from the previous year [2][3]. Business Overview - The company operates primarily in the lightweight conveyor belt sector, which is characterized by a competitive landscape dominated by major players such as Ammega, Habasit, and Forbo-Siegling, holding about 30% of the global market share [4][5]. - The domestic market features strong competition from established multinational companies, while local firms like AA Industrial Belting and Yongli Co. have made significant advancements in technology and production capabilities [4][5]. - The lightweight conveyor belts are widely used across various industries, including aluminum processing, textiles, food processing, logistics, and electronics manufacturing [5][6]. Strategic Acquisitions - The company acquired a 50.20% stake in Taizhou Zhongshixin Electronics Co., Ltd., enhancing its capabilities in precision metal structure components and electronic parts manufacturing [6][7]. - This acquisition is expected to broaden the company's customer base and service capabilities in the consumer electronics and automotive sectors [6][7]. Market Positioning - The company employs a dual sales strategy, utilizing both direct sales and intermediaries to reach customers, which allows for flexibility in meeting diverse client needs [8][9]. - The company has focused on product innovation and quality management, achieving certifications such as ISO9001 and ISO14001, which bolster its competitive edge in the market [12][13]. Research and Development - The company emphasizes R&D and has developed proprietary technologies and materials, which are crucial for maintaining product quality and performance [11][12]. - The R&D team is actively engaged in creating customized solutions to meet the evolving demands of clients, thereby enhancing customer loyalty and market share [11][12].

Core Viewpoint - The financial performance of Yongli Co., Ltd. shows significant growth in revenue and net profit for the first half of 2025 compared to the same period in 2024, indicating a positive trend in the company's operations and financial health [1]. Financial Performance Summary - Total revenue for the first half of 2025 reached 1.141 billion yuan, a year-on-year increase of 17.01% from 975 million yuan in 2024 [1]. - Net profit attributable to shareholders was 113 million yuan, up 14.99% from 98.1 million yuan in the previous year [1]. - The gross profit margin decreased to 31.34%, down 3.05% from 32.33% in 2024, while the net profit margin improved to 10.52%, an increase of 1.42% [1]. - The total of selling, administrative, and financial expenses was 192 million yuan, accounting for 16.8% of revenue, a decrease of 9.06% compared to the previous year [1]. - Earnings per share rose to 0.14 yuan, reflecting a 15.2% increase from 0.12 yuan [1]. Cash Flow and Asset Management - Operating cash flow per share increased significantly by 71.64% to 0.19 yuan from 0.11 yuan [1]. - Accounts receivable represented 251.71% of net profit, indicating a high level of receivables relative to profit [7]. - The company experienced a 20.22% decrease in cash and cash equivalents, attributed to an increase in bank deposits classified as other current assets [4]. Investment and Business Model Insights - The company has a relatively low return on invested capital (ROIC) of 5.82%, indicating average capital returns [5]. - The business model is primarily driven by marketing, necessitating further investigation into the underlying factors of this drive [6]. - The company has established a comprehensive service network, with subsidiaries and offices in various domestic and international locations, enhancing its ability to provide efficient pre-sales and after-sales services [7]. Changes in Financial Items - Prepayments increased by 59.63% due to higher advance payments for goods [2]. - Long-term equity investments decreased by 100% as a result of acquiring 50% of Shanghai Ketech, which is now a wholly-owned subsidiary [2]. - Financial expenses saw a significant reduction of 98.18%, attributed to exchange rate gains compared to losses in the previous year [4].

Core Viewpoint - The company has shown a positive growth trajectory in its financial performance for the first half of 2025, with significant increases in revenue and net profit, alongside strategic advancements in operational efficiency and market expansion [5][6][8]. Financial Performance - The company achieved operating revenue of 1,141.15 million yuan, a year-on-year increase of 17.01% [5]. - The net profit attributable to ordinary shareholders was 112.81 million yuan, reflecting a 14.99% increase compared to the previous year [5]. - The net cash flow from operating activities reached 157.29 million yuan, marking a substantial increase of 71.01% year-on-year [5]. Business Segments Lightweight Conveyor Belt Business - This segment generated revenue of 563.70 million yuan, up 11.40% year-on-year, accounting for 49.40% of total revenue [6]. - The net profit for this segment was 34.15 million yuan, a significant increase of 38.15% year-on-year, driven by sales growth and effective cost control [6]. - The net cash flow from operating activities in this segment was 34.75 million yuan, a remarkable increase of 688.49% year-on-year [6]. Precision Molding Business - The precision molding segment reported revenue of 577.45 million yuan, a 23.06% increase year-on-year, representing 50.60% of total revenue [8]. - The net profit for this segment was 78.65 million yuan, with a more modest increase of 7.18% year-on-year due to changes in product structure and increased expenses [8]. - The net cash flow from operating activities in this segment was 122.53 million yuan, up 25.18% year-on-year [8]. Key Developments - The company successfully completed and commenced operations at its manufacturing facility in Thailand, enhancing production capacity and efficiency [9]. - New business revenue continued to grow, with notable increases in various product lines, including a 37.12% increase in synchronous belt revenue and an 85.05% increase in intelligent single machine business revenue [10]. - The company invested 37.88 million yuan in R&D, representing 3.32% of total revenue, a 20.14% increase from the previous year, and secured 12 new patents during the reporting period [10][11]. Investor Relations and Corporate Governance - The company emphasized strict adherence to internal control systems and effective communication with investors, including a cash dividend distribution of 0.65 yuan per share, totaling 52.86 million yuan [12].

Core Viewpoint - The company, Yongli Co., is poised to benefit from the growth of smart logistics, which is driving demand for efficient and low-energy conveyor equipment, particularly lightweight conveyor belts [1] Group 1: Industry Insights - The development of smart logistics is leading to an urgent demand for high-efficiency and low-energy conveyor equipment in e-commerce logistics and express sorting centers [1] - Lightweight conveyor belts are widely used in express sorting and warehousing distribution due to their lightweight, wear-resistant, and energy-saving characteristics, indicating an increase in market demand [1] Group 2: Company Positioning - Yongli Co. has been deeply involved in the express logistics industry for many years, developing a diverse product portfolio tailored for various logistics conveying applications [1] - The company's conveyor belt series has gained wide recognition from users and equipment manufacturers due to its reliable quality and flexible solutions, positioning it as a market leader [1] - The gross margin for the lightweight conveyor belt business segment is projected to be 32.33% in 2024 [1]

Core Viewpoint - The company’s lightweight conveyor belts are benefiting from the development of smart logistics, which increases demand for efficient and low-energy conveying equipment in e-commerce logistics and express sorting centers [1] Group 1: Business Performance - The lightweight conveyor belts are widely used in express sorting and warehousing distribution due to their lightweight, wear-resistant, and energy-saving characteristics [1] - The company has been deeply involved in the express logistics industry for many years, developing a diverse product portfolio tailored for various logistics conveying applications [1] - The gross margin for the lightweight conveyor belt business segment is projected to be 32.33% in 2024 [1] Group 2: Market Position - The company’s conveyor belt series has gained wide recognition from users and equipment manufacturers, establishing a leading position in the market due to reliable quality and flexible solutions [1]

Group 1: Siling Co., Ltd. (斯菱股份) - Siling Co., Ltd. is enhancing equipment utilization and product quality through differentiated product manufacturing, a complete supply chain system, and flexible production lines, covering mainstream global vehicle models [1] - The company plans to establish a robotics components division in 2024, focusing on the research and mass production of harmonic reducers, with core equipment already in place and a second production line planned [1] - Siling's Thailand factory has obtained origin certification and is expanding capacity with a third-phase investment, while its North American operations utilize an FOB model, minimizing tariff impacts on customers [1] Group 2: Yongli Co., Ltd. (永利股份) - Yongli Co., Ltd. possesses strong market responsiveness and industry-leading technical research capabilities in the lightweight conveyor belt sector, with a comprehensive product range [2] - The company is transitioning from a lightweight conveyor belt manufacturer to a solution provider, leveraging the advantages of electric rollers, which are simple in structure, easy to install, and energy-efficient [2] - In 2024, overseas sales are projected to account for 54.19% of total revenue, with plans to strengthen global business development and brand building [2] Group 3: Huatai Fund (汇添富基金) - Huatai Fund, established in 2005, has an asset management scale of 904.883 billion yuan, ranking 10th among 210 firms [3] - The fund manages 710 public funds and has 96 fund managers, ranking 7th in both categories [3] - The best-performing public fund in the past year is the Huatai North Exchange Innovation Selected Two-Year Open Mixed A, with a net value of 1.66 and a growth of 130.81% [3]

Group 1: Company Advantages in Lightweight Conveyor Belt Business - The company has a keen market response capability, supported by a forward-looking management team and continuous innovation, with extensive experience in production and sales of lightweight conveyor belts [1] - The company's R&D capabilities are industry-leading, having accumulated a wealth of core technologies and process formulas over years of development [1] - The product specifications are comprehensive, with over a thousand types of lightweight conveyor belts applicable across various industries such as agriculture, logistics, and food [2] Group 2: Differences Between Lightweight and Rubber Conveyor Belts - Lightweight conveyor belts use materials like polyester and high polymer modified materials, while rubber conveyor belts primarily use steel wire and various modified rubbers [3] - Lightweight conveyor belts are designed for automation and can be customized for complex functional requirements, whereas rubber belts are mainly used for heavy items and have limitations in food processing hygiene [3][4] Group 3: Expansion into Electric Drum Business - Electric drums are core components of conveying equipment, offering advantages such as simplified structure, low noise, and energy efficiency compared to traditional systems [5] - The company aims to transition from a lightweight conveyor belt manufacturer to a comprehensive solution provider, expanding its product line to include electric drums and other related products [5][6] Group 4: Competitive Landscape - Major global competitors in the lightweight conveyor belt market include Swiss Habasit and Dutch Siegling, with strong competition from Japanese companies in the Asia-Pacific region [6] - Domestic leaders like the company and AAI Precision Industrial Systems are gaining market share through technological innovation and brand building [6] Group 5: Overseas Sales and Future Plans - In 2024, the company's revenue from mainland China was 102,528.71 million yuan, accounting for 45.81%, while revenue from other regions was 121,284.36 million yuan, making up 54.19% [6] - The company plans to strengthen and expand its overseas market presence, including establishing overseas subsidiaries and enhancing cooperation with existing clients [6][7] Group 6: Future Development and M&A Intentions - The company aims to enhance its capabilities in both lightweight conveyor belts and high-end precision molding, focusing on expanding product lines and improving service quality [7] - M&A considerations will include the potential for competitive advantage, the suitability of targets, and the overall market conditions [7]