武进不锈(603878) - 武进不锈投资者关系活动记录表

Financial Performance - Net profit significantly declined this year, leading to potential adjustments in management performance evaluation and incentive plans [1] - Sales and other four expense ratios increased, and financing cash flow turned negative in Q3 [2] - Q3 performance declined mainly due to lower-than-expected downstream industry demand [2] R&D and Investments - R&D expenses reached nearly 30 million yuan this year, focusing on domestic substitution of high-corrosion-resistant pipelines [2] - Fixed assets totaled 836 million yuan, with 176 million yuan in construction-in-progress [2] - New production capacity is based on market research and currently in normal production [2] Capital and Debt Management - 310 million yuan convertible bonds have not been converted yet, with conversion terms to be considered based on market conditions [2] - Company will evaluate whether to adjust conversion price based on stock price trends and market environment [2] Market and Operations - Performance evaluation and incentive plans will be revised according to market demand expectations [1] - Company has made targeted adjustments to address various factors affecting performance [2] - Product structure and production capacity allocation will be adjusted to maximize investment returns [2]