Group 1: Company Overview and Business Model - The company focuses on high-end liquid packaging equipment, providing comprehensive solutions for various industries including beverages, edible oils, and daily chemicals [4] - The business model combines machinery manufacturing and engineering construction, with revenue recognition based on the transfer of control as per accounting standards [5] Group 2: Financial Performance - In H1 2025, the domestic gross margin was approximately 24.06%, while the overseas gross margin was about 30.88%, attributed to product cost advantages and market dynamics [3] - The company has a robust order backlog, indicating a tight short-term capacity, with plans to enhance assembly efficiency post facility expansion [4] Group 3: Market Expansion and Trends - The Southeast Asia and South Asia beverage markets are in a rapid expansion phase, driven by urbanization and rising incomes, leading to a diversified consumption structure [3] - The company actively expands its international marketing channels to increase order volume and quality in overseas markets [2] Group 4: Product Development and Innovation - The company has made significant advancements in sterile filling technology, mastering both wet and dry sterilization processes, and has achieved breakthroughs in high-speed bottling lines [4] - Sterile filling equipment is applicable for a wide range of beverage products, including functional drinks and bottled water, with growing demand expected in international markets [4] Group 5: Competitive Advantages - The company has identified key competitive advantages in health-oriented and low-calorie beverage segments, responding to consumer trends for natural and functional products [3] - The product lineup includes industry-leading equipment such as the fully automatic high-speed PET bottle blowing machine, which fills domestic technology gaps [4]

投资者关系活动 类别 特定对象调研 分析师会议 媒体采访 业绩说明会 新闻发布会 路演活动 现场参观 其他 参与单位名称及 人员姓名 深圳国安保证担保有限公司：孙怀谨 江西知风咨询有限公司：杨 明 扬州润毅创投有限公司：李仁武 文 川 尹玲玲 安通基金：段学忠 江西天伦企业咨询有限公司：刘国庆 珠海市横琴天勤资产管理有限公司：孙会敏 广东臻远私募基金管理有限公司：刘汉顶 广东邦政资产管理有限公司：安德生 个人投资者：吴瑞芳 胡陆平 时间 2025 年 12 月 12 日 （周五）下午 13:00~14:00 地点 公司 215 会议室 上市公司接待人 员姓名 董事会秘书：秦媛 新能源事业部生产运营分部部长：黄缚虎 财务管理部副部长：代进能 | | 证券事务代表：刘益汉 | | --- | --- | | | 1.公司新能源项目的储备情况？ | | | 年，公司申报的云南省第一、二批新能源建设项目， 答：2025 | | | 两批项目大比例进入建设清单，风电装机规模占比分别为 | | | 19.6%和 13.93%。十五五期间，公司将持续加强资源获取力度， | | | 坚定不移地做强做优做大绿色能源核心主业，推 ...

编号：2025-018 投资者关系活动 类别 特定对象调研 分析师会议 媒体采访 业绩说明会 新闻发布会 路演活动 现场参观 其他 参与单位名称及 人员姓名 国联民生：张玮航 招莉 宝盈基金：张 戈 彭佳敏 吕功绩 侯星宇 时间 2025 年 12 月 12 日 （周五） 上午 10:30~11:30 地点 公司 215 会议室 上市公司接待人 员姓名 董事会秘书：秦媛 新能源事业部生产运营分部部长：黄缚虎 财务管理部副部长：代进能 证券事务代表：刘益汉 投资者关系活动 主要内容介绍 1.未来公司 3-5 年风电装机容量会有多少？ 答：随着永宁风电场扩建项目及通泉风电场扩建项目的全容量 并网发电，截至目前公司新能源总装机容量已达 259.486 万千 瓦，其中风电 241.886 万千瓦，光伏 17.6 万千瓦。与此同时， 公司持续加大资源排查力度，加强后续新能源项目资源获取。 面向未来，公司将以打造"云南绿色能源领军企业、区域内有 竞争力的新能源综合运营商"为使命目标，坚定不移地做强做 优做大绿色能源核心主业，推动公司高质量可持续发展。谢谢！ 2.公司风电项目的投资回报率在多少？通过精细化管理投资 回报率是 ...

Group 1: Company Overview - Fujian Snowman Group Co., Ltd. was established in 2000, focusing on thermal power technology for cold chain logistics, industrial refrigeration, clean energy, and hydrogen power sectors [1] - In the first three quarters of 2025, the company achieved a revenue of CNY 1.631 billion, representing a year-on-year increase of 24.26% [1] Group 2: Data Center Business Expansion - The company has engaged in the data center business through compressor refrigeration equipment supply and key project construction [1] - It offers a diverse product line including piston compressors, open screw compressors, semi-hermetic screw compressors, and centrifugal compressors, with a new centrifugal compressor designed for high-efficiency data centers now on the market [1] - The company utilizes low-charge ammonia refrigeration technology, replacing traditional refrigerants, exemplified by its provision of third-generation low-charge ammonia cooling technology for Facebook's data center in Denmark [1][2] - The company’s subsidiary, Hangzhou Longhua, undertakes data center refrigeration engineering integration projects for major clients like China Mobile, China Unicom, and Alibaba [2] Group 3: Controlled Nuclear Fusion Business - The company produces helium compressors essential for large-scale low-temperature systems, crucial for projects like the superconducting tokamak [2] - Its "megawatt-level" helium compressors can achieve cooling capacities at -271°C, with the technology recognized as internationally leading [2] Group 4: Hydrogen Energy Sector - The company is developing fuel cell stacks, power systems, and core components, leveraging its existing compressor and refrigeration technologies in liquid hydrogen and hydrogen equipment [2] - It has established a global hydrogen fuel cell technology R&D and supply chain system, with research institutions in Europe and Japan focusing on core components and materials [2] - The new generation of metal plate fuel cell stacks has been developed, with efforts underway for large-scale production of hydrogen fuel cells and core components in China [2]

Group 1: Business Development and Market Strategy - The company has strengthened its innovation capabilities and operational efficiency, achieving overseas manufacturing revenue of 930 million CNY in the first half of 2025 [2] - The focus remains on domestic markets, particularly in the Yangtze River Delta and Guangdong-Hong Kong-Macau Greater Bay Area, while also planning to enhance overseas market research [2] - The company aims to optimize its business structure and enhance operational management to achieve sustainable high-quality development [3] Group 2: Policy Impact and Market Conditions - The company is closely monitoring policies related to stockpiling and home purchase subsidies, which are expected to support liquidity and improve supply-demand structures in the real estate market [2] - The overall policy optimization is seen as beneficial for stabilizing the industry, although full recovery depends on consumer confidence [2] Group 3: Financial Management and Cost Optimization - The company is working to optimize its loan structure by taking advantage of the current declining interest rates to reduce financial costs [4] - Future financing cost optimization will be approached cautiously, considering market conditions and policy directions [4] Group 4: Real Estate Development and Investment Strategy - The company prioritizes risk prevention in its real estate development, focusing on high-margin projects in core cities with predictable cash flows [5] - New land acquisition will be considered selectively, ensuring that risks are manageable and investment returns are aligned [5] Group 5: Shareholder and Market Engagement - The company has no current plans for asset injection from its controlling shareholder and will disclose any future developments as required [6] - A focus on value management is evident, with established systems and plans to enhance market performance and respond to investor feedback [8]

证券代码：002303 证券简称：美盈森 美盈森集团股份有限公司 投资者关系活动记录表 编号：2025-22 | 投资者关系 | 特定对象调研 分析师会议 | | --- | --- | | 活动类别 □媒体采访 | 业绩说明会 | | | □新闻发布会 □路演活动 | | 现场参观 | 其他 | | 参与单位名 称及人员姓 | 1、宏利基金 吕佳文、孟杰、汪兰英、周少博 | | 名 | 2、中邮证券 赵洋、陆禹舟 | | 上市公司参 | 1、董事会秘书 刘会丰 | | 与人员 | 2、证券事务代表 闻敏 | | 时间 2025 | 年 月 日（周五） 12 12 | | 地点 美盈森大厦 | B 座 18 楼会议室 | | 形式 | 线下现场会议 1、公司海外业务未来盈利水平能否保持稳定？ | | | 答：由于当前海外一些区域对包装产品及服务要求较高的高 | | | 附加值客户较为集中且受益于海外市场竞争格局等因素，当前公 | | 交流内容及 | 司海外业务的盈利水平较国内业务总体要高一些。随着公司海外 | | 具体问答记 | 新产能的逐步投入使用，我们的目标是维持海外业务盈利水平的 | | 录 ...

Company Overview - Hubei Dinglong Holdings Co., Ltd. is a leading platform company in the field of core innovative materials, focusing on two main business segments: semiconductor materials and general printing consumables [2][3]. - The company emphasizes semiconductor innovation materials, covering CMP process materials, photoresists, and advanced packaging materials, establishing itself as a domestic leader in these areas [2][3]. Polishing Liquid Business - The company has achieved significant breakthroughs in polishing liquid technology, including a comprehensive product layout covering dielectric, metal, and polysilicon layers, with several high-barrier products already developed [3][4]. - R&D investment for the first three quarters of 2025 reached CNY 389 million, primarily directed towards semiconductor segments, ensuring robust funding for technological innovation [4][10]. - The polishing liquid products have gained recognition from major domestic wafer manufacturers, with successful orders for combined polishing and cleaning liquid solutions [4][5]. Advanced Photoresist Technology - The company has over 20 years of experience in the import substitution of key materials, establishing a strong technical barrier in high-end photoresist production [5][6]. - It has developed nearly 30 types of high-end photoresists, achieving industry-leading technical specifications and ensuring a stable supply of core raw materials through independent development [6][7]. OLED Display Materials - The core products for OLED display materials, such as yellow polyimide slurry (YPI) and photosensitive polyimide slurry (PSPI), have achieved stable supply and established a leading position in the domestic market [8][9]. - The PSPI product line has a production capacity of 1,000 tons per year, with ongoing development of new high-end display materials [8][9]. Future Product Expansion - The company plans to leverage its seven core technology platforms and four synchronization mechanisms to ensure smooth transitions from R&D to mass production in new product areas [9][10]. - Cumulative R&D investment over the past three years exceeds CNY 1.1 billion, maintaining a ratio of approximately 14% of revenue, which supports new technology development [10].

Company Overview - Guangdong Yinhui Technology Co., Ltd. was established in 1997, focusing on high-performance polymer new materials research, production, and sales [2][3] - The company has established production and R&D bases in multiple locations, including Dongguan, Suzhou, and Vietnam, to support international expansion [3] Product and Market Focus - The company specializes in high-value-added products in emerging technology fields such as polymer modified plastics, smart lighting, 3D printing materials, and electronic chemicals [3] - Products are widely used in various industries, including automotive, home appliances, aerospace, and new energy [3] Client Development and Sales Strategy - Recent years have seen a shift towards high-value products and nurturing emerging clients, particularly in the electronics and robotics sectors [4] - The company has established stable relationships with clients in new industries, including partnerships with major brands like Xiaomi and Harman Kardon for AI products [4][5] Financial Management and Governance - The company maintains a low asset-liability ratio, allowing for cost-effective financing options [6] - Recent shareholder proposals have been rejected due to non-compliance with legal requirements, but management emphasizes stability and risk management [6][7] Growth Prospects - The company is positioned to benefit from the rapid growth of the low-altitude economy and service robots, with a positive trend in modified plastics business [7] - The smart lighting business has also entered supply chains of leading companies, indicating a stable growth trajectory [7] - The company expects profit growth to align with trends observed in the first three quarters of the year [7]

Group 1: Market Strategy and Competition - The company will focus on retail channel construction as the core strategy for 2026, enhancing refined operational management to boost retail channel growth [1] - The implementation of a dual-driven approach in product and marketing aims to optimize product sales structure and improve gross margin [1] - Continuous internal management reform and cost reduction efforts are expected to enhance operational quality and reduce expense ratios [1] Group 2: Product Development and Collaboration - The company is advancing cooperation with Hongmeng Smart Selection to promote new products like smart bath heaters and showers through online and offline channels [1] - Leveraging the ecological resources of the Hongmeng platform will enhance internal operational capabilities in product planning, development, and launch processes [1] Group 3: International Market Expansion - The company has experienced a decline in overseas revenue this year but plans to continue its international strategy with differentiated market approaches [2] - Establishing partnerships with local distributors and expanding offline store layouts in key overseas markets are part of the strategy [2] - The company is also focusing on online sales through major overseas e-commerce platforms and brand collaborations to drive international business growth [2] - Despite a decrease in export revenue to the North American market, there has been significant revenue growth in markets outside North America [2]

Group 1: Strategic Layout and Business Model - The company adheres to a dual-core strategy of equipment and materials, establishing independent departments for each project to enhance professional capabilities [2] - Focus on profit enhancement and scale expansion in the materials sector, continuously adding new equipment categories and material strategies to create a virtuous cycle of sales profit [2][3] - The company aims to achieve a synergistic effect of 1+N>N+1 through distinctive management incentive mechanisms and technology advantages [3] Group 2: Core Competitiveness and Innovation - Core competitiveness is centered on technological innovation and comprehensive manufacturing capabilities, with a complete industrial chain from core technology R&D to product delivery [3] - The company promotes an "ecological win-win" barrier by empowering management and core teams, fostering internal creativity, and collaborating deeply with industry partners for shared growth [3] Group 3: Financial Strategies and Future Plans - A 1.5 billion yuan industrial fund has been established in collaboration with the government, focusing on the company's industrial chain layout needs while adhering to investment regulations [4] - The company maintains a robust cash flow to support strategic acquisitions, ensuring alignment with its core equipment and materials strategy [5] - Future investment and acquisition plans will continue to revolve around the core of "equipment + materials," targeting suitable candidates in the direction of smart manufacturing [5]