银龙股份介绍，2026年是"十五五"规划的开局之年，随着我国经济持续发展和城市化进程不断加速，交 通运输需求显著提升，铁路作为国民经济重要支柱，其战略地位日益凸显。公司控股子公司银龙轨道已 构建覆盖国家战略区域的十大产业基地网络，通过独资与合资相结合的模式，在河北河间、安徽淮北、 河南平顶山、广东阳江、江西赣州等多个交通枢纽城市布局轨道板及轨枕生产基地，形成高效协同、快 速响应的区域性供应体系。 银龙股份主营业务聚焦于预应力材料与轨道交通用混凝土制品两大核心产业，同步发展高端装备制造及 信息化产业，并以新能源业务为战略协同。截至2025年6月30日，预应力材料产业实现营业收入11.58亿 元，同比增长8.12%，占总营收的比例为78.58%，体现了传统优势业务的稳健增长与扎实基础。轨道交 通用混凝土制品产业增长势头强劲，实现营业收入2.13亿元，同比增长0.04%，占总营收的比例为 14.45%。该板块的快速增长，主要得益于国家铁路及城市轨道交通建设的持续推进，以及公司全国化 生产基地网络的产能释放和市场开拓。两大产业协同并进，共同构成公司稳健发展双引擎。 "公司对未来三年的业绩发展抱有信心。"银龙股份称，公 ...

证券日报网12月22日讯银龙股份（603969）在12月18日回答调研者提问时表示，公司对未来三年的业绩 发展抱有信心，这一展望也体现在公司2025年推出的限制性股票激励计划所设定的考核目标中。该计划 以2024年度净利润为基数，设定了清晰的阶梯式增长目标：2025年度净利润增长率不低于20%；2026年 度净利润累计增长率不低于40%(或2025-2026两年累计净利润增长率不低于160%)；2027年度净利润累 计增长率不低于60%(或2025-2027三年累计净利润增长率不低于320%)。公司业绩增长将主要依托于公 司预应力材料领域的产品结构优化与高端市场突破，以及轨道交通用混凝土制品板块凭借技术、产品质 量、品牌声誉及服务网络等优势持续获取订单。同时，新能源业务稳步推进也将为业绩贡献新的增长 点。股权激励目标是公司结合宏观经济形势、行业政策导向及自身发展规划后审慎制定的，不构成对投 资者的业绩承诺。公司管理层将持续优化经营，扎实推进各项业务，力争以更好的经营成果回报广大投 资者的信任。 ...

证券日报网12月22日讯银龙股份（603969）在12月18日回答调研者提问时表示，2025年以来，公司积极 推动预应力材料产品结构向高端化方向升级，高性能产品占比实现显著提升。2025年前三季度，受益于 国内铁路、水利、桥梁等重大基建项目密集开工与推进，公司预应力材料整体销售量同比增长6.95%， 产品结构优化成效明显，其中，轨道板用螺旋肋预应力钢丝、超高强度预应力钢绞线、桥梁缆索用镀锌 钢丝及钢绞线等高性能产品凭借其优异的技术指标和可靠的质量，在多个国家重点工程中成功应用，市 场认可度不断提高，带动高性能产品占比持续扩大。与2024年同期相比，2025年前三季度高性能产品销 售占比提升幅度显著，这直接驱动该业务板块整体盈利水平的优化。展望2026年，公司将继续坚持"稳 存量、拓增量"发展策略，一方面巩固在传统应用领域的市场份额和客户关系，另一方面持续加强研 发，针对新兴应用场景进行产品适配与市场开拓，进一步扩大高性能产品销售规模与贡献度，推动预应 力材料产业实现质的提升。 ...

证券日报网12月22日讯银龙股份（603969）在12月18日回答调研者提问时表示，公司主营业务聚焦于预 应力材料与轨道交通用混凝土制品两大核心产业，同步发展高端装备制造及信息化产业，并以新能源业 务为战略协同。截至2025年6月30日，预应力材料产业实现营业收入11.58亿元，同比增长8.12%，占总 营收的比例为78.58%，体现了传统优势业务的稳健增长与扎实基础。轨道交通用混凝土制品产业增长 势头强劲，实现营业收入2.13亿元，同比增长0.04%，占总营收的比例为14.45%。该板块的快速增长， 主要得益于国家铁路及城市轨道交通建设的持续推进，以及公司全国化生产基地网络的产能释放和市场 开拓。两大产业协同并进，共同构成公司稳健发展双引擎。未来，公司将继续深化在重点基建项目中参 与度，加强产业间技术共享与市场联动，同时借助新能源业务打造新增长曲线，不断夯实公司高质量发 展基础，致力于为股东创造长期、可持续价值回报。 ...

Core Viewpoint - The company held a performance briefing for Q3 2025 to address investor concerns and discuss future strategies, including potential overseas expansion and capital operations [1][3]. Group 1: Company Operations and Strategy - The company has established a network of six production bases in China, focusing on proximity to markets and raw material sources, with plans for further expansion in key regions through joint ventures and wholly-owned subsidiaries [1][2]. - The company aims to enhance its internal value through continuous technological upgrades and capacity expansion in the prestressed materials and concrete products sectors, supported by two employee stock incentive plans implemented in 2023 and 2025 [3][5]. - The company is exploring opportunities in the renewable energy sector, particularly in wind power, by developing high-strength, corrosion-resistant products and establishing strategic partnerships with leading firms [5][6]. Group 2: Financial Performance and Growth Drivers - The company reported significant growth in Q3 2025, driven by increased sales in prestressed materials and concrete products, supported by ongoing national infrastructure projects [9][10]. - The company has optimized its product structure by focusing on high-performance products, which has led to improved market share and profitability [9][10]. - The company is actively expanding its presence in overseas markets, exporting products to over 90 countries and providing comprehensive solutions for international railway projects [8][10]. Group 3: Cost Management and Profitability - The company has implemented measures to optimize cost structures and enhance gross margins, including product structure optimization, production efficiency improvements, and strict expense controls [6][10]. - The company is committed to maintaining a healthy financial position, with stable cash flow and low debt levels, enabling it to pursue various refinancing options as needed [5][6]. Group 4: Market Expansion Plans - The company plans to deepen its market penetration in traditional infrastructure sectors while also exploring new applications in renewable energy [7][9]. - The company is focusing on expanding its market share in high-speed rail and urban transit projects, particularly in key regions such as North and South China [7][8].

Core Viewpoint - The company reported a solid financial performance with significant growth in revenue and net profit, indicating a stable operational status and strong debt repayment capability [1]. Financial Performance - As of September 30, 2025, the company achieved an operating income of 2.443 billion yuan, representing a year-on-year increase of 10.93% [1]. - The net profit attributable to shareholders reached 273 million yuan, showing a substantial year-on-year growth of 61.89% [1]. - The asset-liability ratio stood at 40.20%, reflecting a reasonable level within the industry and indicating strong debt repayment ability [1]. Business Operations - The company has two main business segments: prestressed materials and concrete products for rail transit, both of which are experiencing steady growth [1]. - Future plans may include upgrades, renovations, and capacity expansions based on operational development needs [1]. Capital Market Strategy - The company is focused on various financing tools in the capital market and will carefully evaluate options such as targeted placements and convertible bonds based on project progress, market conditions, and funding needs [1]. - Any financing plans that meet disclosure standards will be announced in a timely manner according to regulations [1].

Core Viewpoint - The company, Yinlong Co., is focusing on its core businesses in prestressed materials and concrete products for rail transit, while also exploring opportunities in the new energy sector and emerging technologies [2] Group 1: Business Focus - The company continues to concentrate on the prestressed materials industry and concrete products for rail transit [2] - The integration of new energy industry capabilities is a key aspect of the company's strategy [2] Group 2: Innovation and Growth - The company is committed to innovation-driven development, aiming to solidify its main business while cautiously exploring technological opportunities related to its industry chain [2] - The goal is to cultivate new growth points for future development through these explorations [2]

Core Viewpoint - Yinlong Co., Ltd. emphasizes its global perspective in seizing international market opportunities, particularly in the demand for prestressed materials, which are crucial for infrastructure development and reconstruction worldwide [2] Group 1: Company Strategy - The company has a product system and export capabilities that meet multiple national standards, laying a foundation for participating in global market competition [2] - Yinlong Co., Ltd. aims to enhance its performance by capitalizing on market opportunities to create greater value for shareholders [2] Group 2: Industry Context - Prestressed materials are identified as key materials in infrastructure, with widespread demand in global reconstruction and development [2]

Core Viewpoint - The reconstruction of Ukraine post-war presents significant market opportunities for global prestressed materials, which the company is well-positioned to capitalize on due to its extensive export experience and international certifications [1] Company Summary - The company is a specialized supplier of prestressed materials with years of export experience, having products exported to over 90 countries and regions globally [1] - The company has a comprehensive product system and strict quality control measures that meet international standards, enhancing its core competitiveness in the international market [1] - A professional team has been established to track opportunities related to the reconstruction projects in Ukraine and Russia [1] Market Conditions - The company is closely monitoring international market opportunities that align with its strategic goals and are deemed to have controllable risks [1] - Export orders are influenced by complex factors including international politics, business conditions, and logistics, leading to uncertainties in the market [1] - The company commits to timely information disclosure if significant contracts that meet disclosure standards are reached [1]

Core Viewpoint - Tianjin Yinlong Prestressed Materials Co., Ltd. expects a significant increase in net profit for the first three quarters of 2025, projecting a growth of 55% to 75% compared to the same period last year [2][4]. Financial Performance Summary - The estimated net profit attributable to the parent company for the first three quarters of 2025 is projected to be between 261.43 million yuan and 295.16 million yuan, an increase of 92.77 million yuan to 126.50 million yuan year-on-year [2][4]. - The estimated net profit attributable to the parent company after deducting non-recurring gains and losses is expected to be between 259.07 million yuan and 292.50 million yuan, reflecting a similar year-on-year increase [2][4]. Previous Year Performance - In the first three quarters of 2024, the total profit was 217.45 million yuan, with a net profit attributable to the parent company of 168.66 million yuan [6]. - The earnings per share for the first three quarters of 2024 were 0.20 yuan per share [7]. Reasons for Performance Increase - The company has leveraged its leading position in the prestressed materials and concrete products for rail transit sectors, resulting in strong performance [8]. - Key strategic breakthroughs in new energy materials and specialized technology have injected new momentum into the company's development [8]. - Continuous optimization of product structure and expansion of high-performance product ratios have significantly enhanced core competitiveness, driving substantial growth in operating performance [8]. - The prestressed materials sector has seen steady sales growth due to the acceleration of major national projects in railways, water conservancy, bridges, and highways [9]. - The rail transit concrete products sector has achieved notable growth, supported by the successful advancement of key projects [9]. - The new energy sector is gradually becoming a new growth point, with products successfully applied in wind power and photovoltaic systems, contributing to overall performance growth [10].