2025年10月13日10:30 - 12:00，安徽安利材料科技股份有限公司在公司行政楼九楼会议室接待了中泰证 券蔡星荷、华夏基金何竞舟的特定对象调研，并进行了现场参观。公司董事会秘书、副总经理刘松霞及 证券事务代表陈丽婷参与接待。 此次调研中，机构与公司就多个业务领域展开交流。在具身智能领域，公司相关材料研发尚处初期，主 要与部分企业及产业链伙伴进行调研交流与初步接洽，暂未形成实质性业务订单。 谈及过往利润波动，公司表示是多重非持续性因素叠加影响，如原材料及能源价格波动、外部环境变化 等。不过近年来公司推进客户和产品转型升级，成效渐显。2025年上半年，在国内通缩压力下，销售毛 利率达26.22%，产品平均销售单价同比增长7.4%，显示出较强的议价及抗风险能力。 关于2025年上半年营收下降，公司称主要受房地产行业复苏节奏、关税政策调整及国内消费市场复苏不 均衡等因素影响。但公司持续优化业务布局与产品结构，经营向好态势不变。 功能鞋材品类方面，公司客户覆盖国际国内主流体育运动品牌。与耐克升级为战略合作伙伴后，合作项 目增多。同时积极拓展新客户，如已通过New Balance供应商认证，预计明年实现订单转化 ...

Group 1: Company Overview and Market Position - The company is actively exploring the field of embodied intelligence, with research and development in early stages and no substantial business orders yet [2] - Recent profit fluctuations are attributed to non-continuous factors such as raw material price volatility, external environmental changes, and initial depreciation costs from the construction of the Anli Industrial Park [3] - The company has seen an increase in brand clients and a rise in high-margin, high-value-added products, enhancing its core competitiveness [3] Group 2: Financial Performance - In the first half of 2025, the company's gross profit margin was 26.22%, with an average sales price increase of 7.4% year-on-year, indicating strong pricing power and improved profitability [3] - Revenue decline in the first half of 2025 was due to multiple factors, including slower-than-expected recovery in the real estate sector and uneven domestic consumption market recovery [3] Group 3: Product Categories and Client Relationships - The company has established strong partnerships with major sports brands like Nike, Adidas, and Puma, which are expected to support future performance growth [4] - The company is focusing on TPU composite materials for functional footwear, which align with current trends in sports and leisure footwear [4] - In the automotive interior segment, the company has made progress with major brands like BYD and Toyota, with expectations for further growth as demand for automotive interior materials increases [6] Group 4: Supply Chain and Digital Transformation - The company employs refined supply chain management and digital upgrades to enhance operational efficiency and meet diverse customer needs [7][8] - It has implemented a dynamic procurement plan and a competitive procurement mechanism to balance cost and reliability in raw material sourcing [7] - The company has been recognized as a national model enterprise for the integration of information technology and manufacturing, highlighting its commitment to digital transformation [8]