Growth Points - The company aims to enhance its core business, focusing on design brand development, with projected design revenue of 721 million CNY in 2024, accounting for 60.71% of total revenue, and 424 million CNY in the first half of 2025, increasing to 67.00% of total revenue [1][2] - The soft decoration business is expected to generate 261 million CNY in 2024, showing a year-on-year growth of 16.23%, and 142 million CNY in the first half of 2025, with a significant growth of 43.75% [2] - The company plans to target the high-end private art center market, focusing on personalized services for luxury residential projects, with existing cases in Shanghai and Guangzhou [2] Strategic Development - The company will continue to strengthen design brand building, expand design scale, and enhance market coverage [3] - There will be an emphasis on market expansion to attract diverse clients across various industries, including new energy, technology, finance, and consumer sectors [2][3] - The company intends to enhance research and technology application to improve management efficiency through digitalization [3] Future Plans - The company is committed to developing overseas markets and expanding its international presence [3] - There are no current transformation plans disclosed, but any future plans will be announced in accordance with regulations [4] - Shareholder information will be disclosed in regular reports, ensuring fair access to information for investors [4]

营水平和盈利能力，以良好稳定的业绩回报公司股东。感谢 您的关注，敬请投资者注意投资风险。 2、近期市场对公司估值偏低，请问管理层认为目前公 司最容易被市场误解的点是什么？ 您好，公司重视保护广大投资者的利益，与投资者保持 良好沟通，努力做好企业经营。公司股价波动受宏观环境、 大盘走势、市场情绪等多种因素影响，公司秉持高质量发展 理念，努力以优异的业绩回报股东和社会，我们相信公司的 长期价值会得到投资者的认可。未来公司将继续努力做好经 营和管理，并将持续深耕主营业务，全面推进业务出海战略， 加快全球化布局，为客户提供有竞争力的支付产品和服务解 决方案，力争以良好的经营业绩回报广大投资者，感谢您的 关注，敬请投资者注意投资风险。 证券代码： 300130 证券简称：新国都 深圳市新国都股份有限公司 投资者关系活动记录表 编号：2025-002 | 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 参加"2025 年度深圳辖区上市公司投资者网上集体 | | | 接 ...

证券代码：002577 证券简称：雷柏科技 深圳雷柏科技股份有限公司投资者关系活动记录表 | □ | 投资者调研 □ 分析师会议 | | --- | --- | | □ 投资者关系活 | 媒体采访 业绩说明会 □ | | 动类别 □ | 新闻发布会 □ 路演活动 | | □ | 现场参观 其他 ■ | | 参与单位名称 | 线上参加本次"2025 年度深圳辖区上市公司投资者网上集体接 | | 及人员姓名 | 待日活动" 的投资者 | | 时间 2025 | 年 11 月 20 日（星期四）下午 14:30-17:00 | | 地点 | "全景路演"网站 （https://rs.p5w.net） | | | 董事长兼总经理：曾浩先生 | | 上市公司接待 | 独立董事：李天明先生、刘勇先生 | | 人员姓名 | 副总经理兼董事会秘书：谢海波先生 | | | 财务总监：谢艳女士 | | | 为进一步加强与投资者的互动交流工作，深圳雷柏科技股份有 限公司参加由深圳证监局和中证中小投资者服务中心指导、深 圳上市公司协会与深圳市全景网络有限公司联合举办的"2025 | | | 年度深圳辖区上市公司投资者网上集体接待日活 ...

Group 1: Product and Market Strategy - The company aims to improve product gross margin by optimizing product structure and increasing the sales proportion of high-margin products [2] - Downstream customer composition includes: Home appliances (22%), Beer (15%), Dairy (14%), Food (11%), Daily chemicals (4%), E-commerce logistics (4%), Others (30%) [3] - The company focuses on Southeast Asia for overseas business, with capacity expansion planned in Thailand, Vietnam, and Indonesia [3] Group 2: Competitive Advantages and Innovations - The company leverages clear capacity demands from clients to avoid blind expansion, providing group services that meet global collaboration needs [4] - Domestic smart factory operational experience can be replicated quickly, enhancing efficiency and cost control compared to local competitors [4] - The company is committed to sustainable development by innovating eco-friendly materials and accelerating smart manufacturing processes [8] Group 3: Financial Performance and Shareholder Returns - The company has a strong focus on shareholder returns, with future dividend plans considering operational performance, financial status, and capital expenditure needs [5][6] - The impact of rising raw material prices is managed through timely adjustments in procurement and production strategies to mitigate cost fluctuations [7] Group 4: Future Goals and Industry Trends - The company aims to align with industry trends towards green, intelligent, and intensive development, while expanding overseas markets and enhancing internal operations [8][10] - Future goals include stabilizing domestic operations and achieving rapid growth in overseas business, guided by market demand and strategic planning [10]

Business Overview - The company is a leading provider of precision temperature control and energy-saving solutions, focusing on various sectors including cloud computing data centers, power grid, and electric vehicle charging stations [2] - It has maintained a record of revenue and profit growth for 14 consecutive years [2] Market Expansion - The overseas demand for liquid cooling solutions has exploded, providing a significant opportunity for the company [3] - The company has made progress in international markets, showcasing products at global events and forming partnerships with major clients [3] Revenue Structure - The company aims to balance domestic and overseas revenue, which will enhance profitability and cash flow [4] - Recent years have shown fluctuations in global revenue structure, impacting various operational metrics [4] Order Visibility - The visibility of orders varies across different business segments, with some clients purchasing on a project basis while others use annual bidding processes [5] Competitive Advantages - The company possesses strong technical expertise in equipment cooling and environmental control, with a unique product matrix and service delivery capabilities [6][7] Research and Development - The company has invested approximately 297 million CNY in R&D in the first three quarters of 2025, a 31.36% increase year-on-year [9] Management Team - The management team has extensive experience from major corporations, ensuring a well-structured knowledge base across all business functions [10] Energy Storage Business - The company has 15 years of experience in energy storage temperature control, with a revenue of approximately 800 million CNY from energy storage applications in the first half of 2025, reflecting a 35% year-on-year growth [11] Overseas Capacity Layout - The company is establishing supply chains in Southeast Asia and North America to enhance its overseas market presence [12] Electronic Cooling Business - The electronic cooling segment, including liquid cooling plates and cooling modules, is expected to become a significant revenue contributor, potentially the third-largest business area after data centers and energy storage [13] Company Vision - The company aims to become a world-class enterprise in precision environmental control, focusing on customer needs and rapid delivery of quality products [14] M&A Plans - Any potential mergers and acquisitions will be disclosed in accordance with relevant regulations, ensuring transparency and compliance [15]

Group 1: Infrastructure and Network Expansion - Yantian Port has established a solid foundation in "sea-rail intermodal" and "inland port" network construction, with a continuous positive growth in sea-rail intermodal volume for six consecutive years [2][3] - The port has added 9 inland ports this year, expanding its service network to South China, Central China, and Southwest regions, effectively achieving "ports at your doorstep" [2][3] - Currently, Yantian Port has built a network of "26 inland ports + 34 sea-rail intermodal lines" and a regional linkage system of "15 Greater Bay Area combination ports + 17 barge feeder lines" [3] Group 2: Revenue and Investment Strategies - The company has gained stable income through investments in terminals and highways, and is exploring mergers, strategic partnerships, or new project investments to expand revenue sources [3] - Yantian Port aims to deepen its layout in three core groups: East Guangdong, West Shenzhen, and the Yangtze River Economic Belt, focusing on container, coal, iron ore, and new energy vehicles [3] - The company is actively seeking overseas quality port projects to enhance its project reserve and promote a networked port layout [3] Group 3: Fund and Corporate Structure - The Shenzhen Port Hongsheng Marine Technology Investment Fund is currently in the preparatory stage and requires registration with the Asset Management Association of China before implementation [4] - There are no current plans to change the trading name on the Shenzhen Stock Exchange, despite the parent company being renamed [4][5] - The East Port area is expected to transfer its equity or assets to Yantian Port or a third party within 36 months of obtaining port operation permits, as per commitments made by the controlling shareholder [5] Group 4: Investor Relations and Transparency - The investor relations activity did not involve any undisclosed significant information [5] - The company is committed to maintaining transparency and will fulfill information disclosure obligations in accordance with relevant regulations [4]

Group 1: Investor Relations Activities - The company participated in the "2025 Annual Shenzhen Listed Companies Investor Online Reception Day" on November 20, 2025 [1] - The event was held on the "Investor Relations Interactive Platform" [1] Group 2: Dividend Policy - The company aims to maintain a high dividend payout ratio, emphasizing long-term value creation and sustainable development for shareholders [2] Group 3: Production Capacity - Current production capacity utilization is operating efficiently across major product lines, with plans to further enhance capacity and operational efficiency [2] Group 4: Market Position and Competitive Advantage - The company holds a leading position in the domestic microelectronic welding materials sector, particularly in solder paste and flux, supported by advanced technology and stable product quality [2] Group 5: Supply Chain Management - The company does not rely on a single supplier for key raw materials like tin and silver, with no single supplier accounting for more than 50% of purchases from the top five suppliers in 2024 [2] - A multi-layered response mechanism is in place to manage raw material price fluctuations, including long-term partnerships with major tin mining companies and a product pricing mechanism linked to raw material costs [2] Group 6: Shareholder Actions - The controlling shareholder's planned reduction of holdings is the first since the company's listing, driven by personal financial needs, with no intention to affect stock prices [3]

Group 1: Low Altitude Economy Development - The company has made significant progress in the low altitude economy sector, successfully winning multiple project bids related to low altitude applications and planning studies [2][3] - The company has joined the Guangdong-Hong Kong-Macao Greater Bay Area Low Altitude Economy Industry Alliance and established strategic partnerships to promote low altitude economic services [2][3] Group 2: "Hundred Cities, Thousand Enterprises, Trillion" Plan - The company has launched the "Hundred Cities, Thousand Enterprises, Trillion" initiative, linking over 300 resources related to scene operations and establishing a network of authoritative expert think tanks [3][4] - The initiative aims to provide comprehensive solutions for urban development and expand international cooperation channels, particularly in Southeast Asia and the Middle East [3][4] Group 3: Urbanization and Smart City Development - The company positions itself as a "smart city planning and operation expert," focusing on urban renewal and smart city services to capitalize on new urbanization trends [4][5] - The company plans to enhance its urban operation services, offering integrated consulting and investment services to meet the long-term needs of high-quality urban development [4][5] Group 4: Research and Development Investment - In the first three quarters of 2025, the company invested approximately 21.49 million yuan in R&D, accounting for nearly 10% of total revenue [5][6] - The company has successfully commercialized several AI products, including the "Lei AI Planning Design Assistant" and tools for public participation in urban renewal [5][6] Group 5: Business Expansion and Internationalization - The company is expanding its operations in various regions, including East and South China, and has established a presence in cities like Zhejiang, Jiangsu, and Anhui [6][7] - The company is also pursuing international opportunities, particularly in countries like Thailand, Malaysia, and Nigeria, in line with the Belt and Road Initiative [6][7] Group 6: Recent Developments and Market Impact - The company is currently undergoing compliance reviews for a share transfer, with no definitive timeline for completion [7][8] - The company participated in the 2025 China International High-Tech Achievements Fair, showcasing innovations in AI applications and urban management [8][9]

Group 1: Company Performance and Market Position - The company has achieved a compound annual growth rate (CAGR) of approximately 24% since its listing, indicating strong growth in the high-end electronic components sector [6] - The company has a solid market position, competing with international giants like Murata and TDK, and has established a significant presence in emerging markets such as automotive electronics and AI servers [6] - The company’s AI server-related orders are robust, with rapid growth observed, particularly in overseas markets [2] Group 2: Product Development and Innovation - The company has developed a new series of tantalum capacitors with unique designs and automated production lines, enhancing product quality and consistency [2] - The new tantalum capacitors are positioned for various applications, including consumer electronics, AI data centers, automotive electronics, and eSSD, reflecting a broad market potential [5] - The company has successfully launched AI inductive products using multiple manufacturing processes, catering to leading domestic and international server manufacturers [6] Group 3: Investor Relations and Market Perception - Recent stock price declines have raised concerns among investors, despite the company’s strong operational performance and order volume [5] - The management acknowledges the need to better communicate the company's value to investors, as current market valuations do not reflect its performance [7] - The company has implemented employee stock ownership plans and has conducted share buybacks to enhance shareholder returns, alongside increasing dividend payouts [7] Group 4: Legal and Competitive Challenges - The company is facing legal challenges from a Japanese firm, which may impact customer confidence and order decisions; however, management maintains that operations are normal and communication with clients is ongoing [3] - The company emphasizes its commitment to intellectual property and has a dedicated team to manage these aspects, ensuring that external factors do not disrupt its strategic goals [4]

Group 1: Subsidy and Financial Performance - The company received a total of 1.888 billion CNY in subsidies in the first three quarters of 2025, with recoveries of 1.694 billion CNY, 1.083 billion CNY, and 791 million CNY for the years 2022-2024 respectively. As of the end of Q3 2025, the balance of receivable renewable energy subsidies is 5.498 billion CNY [3][4] - The company has three projects that are included in the subsidy list but did not pass compliance checks, with a total installed capacity of 240,000 kW [4][5] Group 2: Pricing Strategy and Market Adaptation - In response to the implementation of Document No. 136, the company is actively adjusting its pricing strategy to adapt to market fluctuations and explore multiple value opportunities [3][4] - The company combines medium to long-term contracts with spot market participation, locking in most of its electricity sales while leaving a portion for high-price peak periods [4][5] Group 3: Investment Focus and Project Development - As of June 2025, the company has an operational installed capacity of 19.9255 million kW and is focusing on investment returns, shifting from photovoltaic to wind energy and from the northwest to the central and eastern regions [4][5] - The company’s ongoing and planned projects are primarily located in Xinjiang, Qinghai, Gansu, Shaanxi, Hebei, and Guizhou [5][6] Group 4: Energy Storage and Technological Development - The company is increasing its investment in energy storage projects, having already implemented a 50,000 kW electrochemical storage project in Qinghai and is developing additional projects in various regions [5][6] - The company’s energy storage technologies include electrochemical storage, liquid compressed air storage, and flywheel storage, aimed at addressing industry challenges [5][6] Group 5: Market Trends and Challenges - Recent trends indicate a downward fluctuation in electricity market trading prices and an increase in curtailment rates due to a significant rise in renewable energy installations [6] - The curtailment issue is particularly pronounced in western provinces, while eastern coastal provinces like Jiangsu, Shanghai, and Zhejiang have better absorption rates for renewable energy [6][6] Group 6: Management Assessment Criteria - The annual assessment of the company’s management includes performance metrics related to operational results, corporate governance, project expansion, market capitalization management, and party building [6]