良信股份(002706) - 2025年10月24日投资者关系活动记录表

Group 1: Financial Performance - The company's gross margin and net margin both declined year-on-year and quarter-on-quarter in Q3 2025, primarily due to changes in sales structure and product price fluctuations [1] - The gross margin decrease was influenced by the rapid growth of emerging businesses like smart distribution and DC contactors, as well as increased competition and customer negotiations affecting product pricing [1] - The net margin decline was a direct result of the drop in gross margin [1] Group 2: Strategic Initiatives - The company plans to improve profitability through several measures: optimizing pricing strategies, promoting high-margin products, expanding overseas markets, and analyzing cost structures for low-margin products [1] - Continuous efforts will be made to enhance product reliability, quality stability, and cost reduction in the emerging DC contactor business, which is currently in a rapid growth phase [3] Group 3: Industry Focus and Market Segmentation - The renewable energy sector accounts for over 50% of the company's revenue, including wind power, photovoltaics, energy storage, and electric vehicle charging stations [3] - The digital energy sector contributes nearly 20% of revenue, benefiting from favorable market conditions in storage and wind power [3] - The infrastructure sector shows stable growth, while the smart building sector is experiencing negative growth due to reduced demand in the real estate market [3] Group 4: Employee Incentives - The company has terminated its employee stock ownership plan based on performance assessment and cost considerations, but will continue to explore new long-term incentive schemes [4]