证券代码：000928 证券简称：中钢国际 中钢国际工程技术股份有限公司投资者关系活动记录表 编号：2025-6 | 特定对象调研 | □ | 分析师会议 | ☑ | 投资者关系活动 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | □ | 媒体采访 | □ | 业绩说明会 | 类别 | □ | 新闻发布会 | □ | 路演活动 | | □ | 现场参观 | □ | 其他（） | | | | | | | 长江证券、富荣基金、光证资管、泓德基金、华商基金、华泰柏瑞、 | 华夏基金、华夏理财、民生加银、南方基金、同泰基金、信达澳亚、 | | | | | | | | | 盈峰资本、长安汇通、浙商资管、中国人寿、中泰资管、国联基金 | 广发证券、国投证券、中银理财、宝盈基金、合道资管、中国人寿资 | | | | | | | | | 参与单位名称及 | 管、双安资管、九方云智能 | 天风证券、海富通基金、国泰君安资管、东盈投资、宝盈基金、坎盈 | 人员姓名 | | | | | | | 资管、混沌投资、泰康资管、工行资管、平安资管、中信 ...

Group 1: Company Overview and Financial Health - The company, Weili Environmental Technology Group Co., Ltd., is focused on environmental technology and has a significant portion of accounts receivable from municipal projects, primarily from government and state-owned enterprises [2][3] - The company has improved cash flow slightly in 2024 and the first half of 2025, with ongoing efforts to recover funds from older projects through communication and legal measures [2][3] Group 2: Biogas Business Development - The company has signed 9 biogas projects, generating over 200,000 cubic meters of biogas per day, with three projects currently in operation [3][4] - Future plans include reaching a biogas production capacity of 500,000 cubic meters per day by 2025 and 1,000,000 cubic meters per day by 2027 [3][4] Group 3: Green Energy and Market Potential - Biogas is recognized as a renewable energy source with significant potential for reducing greenhouse gas emissions by over 65% compared to fossil fuels [4][5] - The company aims to achieve green certification for biogas, which will allow for premium pricing in the market as demand for green energy increases [5] Group 4: LNG and Collaboration Opportunities - LNG is primarily used in transportation and industrial applications, with potential for premium pricing based on carbon credits [5][6] - The company plans to pilot LNG projects to establish a replicable business model and explore partnerships with gas companies and shipping firms [5][6] Group 5: Biodiesel Business Strategy - Biodiesel, derived from various oils, is increasingly in demand for transportation and sustainable aviation fuel (SAF) [7][8] - The EU and UK have set targets for SAF blending in aviation fuel, with penalties for non-compliance, indicating a growing market for biodiesel [7][8] - The company is establishing a joint venture in Jiangsu to process waste oils into industrial-grade raw materials for biodiesel production, with a processing capacity of approximately 50,000 tons per year [8][9]

Group 1: Financial Performance - The company achieved total operating revenue of 165,687.92 million yuan in the first half of 2025, representing an 18.90% increase compared to the same period last year [2] - The net profit attributable to shareholders of the listed company was 12,416.09 million yuan, a decrease of 15.93% year-on-year [2] Group 2: Growth Drivers - Future growth drivers include the increased penetration of Mini LED backlight applications, growth in market share for automotive LEDs and mid-size LED backlights, and expansion in overseas markets for traditional businesses [3] - The company maintains an open attitude towards mergers and acquisitions, actively seeking potential investment targets that align with its long-term strategic planning [3] Group 3: Research and Development - R&D investment for the first half of 2025 was 106,510,574.95 yuan, reflecting a 17.56% increase from the previous year [3] - The company is focused on new technologies and trends, ensuring a robust pipeline of new product development projects [3] Group 4: Market Trends and Production Plans - The Mini LED backlight market is experiencing a trend towards mainstream display technology, driven by decreasing costs and increasing penetration rates [3] - The company is expanding production lines in Huizhou and Wuhu to meet customer demand for Mini LED backlight products [4] Group 5: Shareholder Engagement and Risk Management - The company emphasizes market value management and shareholder returns, with repurchased shares intended for employee stock ownership plans or equity incentives [4] - Current tariffs have limited impact on the company due to its diversified customer base and delivery regions, enhancing its ability to withstand international risks [4]

Financial Performance - The company achieved a revenue of 1.28 billion CNY in the first half of 2025, representing a year-on-year growth of 24% [3] - Net profit attributable to shareholders reached 37 million CNY, with a significant increase of 115% compared to the previous year [3] Business Segment Performance - Printing and scanning business generated 270 million CNY, up 34%, accounting for 21% of total revenue [3] - Smart self-service terminals brought in 340 million CNY, a 62% increase, making up 27% of total revenue [3] - Smart financial devices saw a revenue of 170 million CNY, down 23%, representing 13% of total revenue [4] - Intelligent logistics equipment revenue surged to 120 million CNY, a 130% increase, contributing 9% to total revenue [4] - Service operation business earned 190 million CNY, growing 13%, and accounted for 15% of total revenue [4] - Key components maintained stable revenue of 130 million CNY, representing 11% of total revenue [4] Market Performance - Domestic market revenue was 750 million CNY, a 15% increase from 650 million CNY, accounting for 58% of total revenue [4] - Overseas market revenue reached 530 million CNY, a nearly 40% increase from 380 million CNY, making up 42% of total revenue [4] Strategic Insights - The company focuses on "unmanned and less manpower" strategies to achieve quality growth [3] - The overseas business has a gross margin of nearly 40%, which is 10%-15% higher than similar domestic businesses [7] - The company is actively expanding its presence in emerging markets and enhancing its global supply capabilities [7] Future Outlook - The company is exploring new demands in digital currencies and stablecoins, aligning with its strategic planning [9] - The Thai factory is set to produce specialized printing and scanning products, with an annual capacity of hundreds of thousands of units [9]

Group 1: Company Performance and Product Development - The company increased R&D investment in 2024, upgrading products like oil-free screw compressors and screw vacuum pumps, maintaining steady sales growth in these categories [2] - The centrifugal compressor models completed phase application tests in 2024, with expectations for increased shipments in 2025 [2] - The company has successfully launched its first dry vacuum pump products for the semiconductor industry, with performance improvements expected in the second half of 2025 [2] Group 2: Domestic Market and Localization - The company has achieved significant progress in domestic substitution, with products being adopted in key industries such as medical, electronics, and semiconductors [2] - Major clients in the electronics sector, including Dabo Medical and Farah Electronics, have recognized the company's products, leading to repeat purchases [2] - The company has established a strong reputation in Taiwan's PCB industry, further enhancing its domestic substitution efforts [2] Group 3: International Expansion and Revenue Growth - The company exports primarily to Southeast Asian countries, with overseas revenue increasing by 18.22% year-on-year in 2024 [3] - Plans for 2025 include expanding sales channels in Southeast Asia, leveraging the Belt and Road Initiative to enhance international sales networks [3] Group 4: Future Outlook and Strategic Initiatives - The management remains optimistic about 2025, focusing on high-end product development and expanding product lines [3] - A new factory is expected to be completed in 2026, which will support the company's growth and operational strategies [3] - The company aims to adapt its business strategies based on market conditions and engage in emerging industries to enhance shareholder value [3]

Financial Performance - In the first half of 2025, the company's revenue reached 296 million CNY, representing a year-on-year increase of 27.93% [2] - The net profit attributable to shareholders was a loss of 14.31 million CNY, a decline of 153.36% year-on-year [2] - The non-recurring net profit was a loss of 16.13 million CNY, down 67.79% compared to the previous year [2] - The decline in profit is attributed to increased depreciation from fixed assets that began to be recognized in 2024 [2][3] Revenue Composition - Revenue from colored photoelectric base films accounted for 45.46% of total revenue [3] - Revenue from transparent films made up 42.62% [3] - Revenue from other functional films was 10.84%, with a decrease attributed to strategic shifts in the business focus towards window films [3] Project Updates - The carbon fiber project, initiated in Q3 2024, is currently in the critical phase of construction and equipment installation, progressing smoothly [4] Carbon Fiber Process - The carbon fiber production process involves several steps: spinning raw materials into fibers, pre-oxidation, carbonization, surface treatment, and final processing into various products [5] Application Areas - High-performance carbon fibers are increasingly used in civil aviation, 3C digital products, low-altitude aircraft, and racing, expanding the market for carbon fiber products [6] Competitive Advantages - The company focuses on technological research and development, holding key manufacturing technologies and fostering innovation through collaborations with universities [8] - It aims to enhance its product range and maintain a strong quality control system to support differentiated and functional polyester film production [8]

证券代码：002345 证券简称：潮宏基 4、潮宏基珠宝在品牌推广上，上半年有哪些亮点？ 答：潮宏基珠宝上半年继续以"意象东方•非遗新生"为品牌 传播主线，携手品牌代言人宋轶开展全方位推广。同时线下通过 升级第九代终端门店形象和用户体验，强化时尚东方的品牌调性。 品牌推广方面，除了精准和高效的常规广告投放，上半年以来在 核心门店举办多场"一城一非遗"主题活动，在提升品牌力的同 时，也带来门店当期和后续较好的销售增长，实现了品牌曝光与 销售转化的双赢。 5、潮宏基线上业务今年的预期如何？ 答：近年来，公司积极优化调整电商业务策略，聚焦品牌一致 性与全域营销协同，在品牌价值提升、盈利增长和运营质量方面 提出更高的要求，去年以来取得较好的效果。尽管销售同比没有 增长，但是盈利水平有较大幅度提升，上半年负责线上销售的子 公司净利润同比增长 70.64%。未来，公司将进一步推动线上线下 | 的一体化运营，通过资源互通与场景互补提升整体效率，例如从 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 线上引导至线下消费，线下服务支持线上销售需求，实现协同 ...

Group 1: Sales and Production Insights - The company's steel sales volume in the first half of the year was 11.1 million tons, a year-on-year decrease of 12.6% [2] - The steel sales volume, excluding direct sales of steel billets, saw a decrease of approximately 10% [2] - The company plans to adjust production rhythm based on downstream order demand and profitability, expecting annual production and sales to match [2] Group 2: Industry Trends and Policies - The steel industry is experiencing a supply-side contraction due to strict policies on crude steel capacity and self-discipline among steel enterprises [2] - Approximately 80% of the industry capacity is expected to complete ultra-low emission transformations by the end of the year [2] - The new 2025 version of the steel industry normative conditions aims to optimize supply and eliminate backward production capacity [3] Group 3: Financial Performance and Cost Management - The company's second-quarter performance improved significantly due to a notable decline in raw material prices compared to steel prices, leading to better profitability [4] - Cost management efforts have led to improved efficiency across various cost indicators, including process, procurement, and energy costs [4] - The company is focusing on high-end steel products, maintaining a stable market share and profitability in niche markets [4] Group 4: Demand and Market Conditions - The third quarter is traditionally a slow season, with a decrease in demand for thin plate products, although some segments like automotive steel show improvement [5] - The company anticipates that industry profitability may narrow in the third quarter due to rising raw material prices, particularly coking coal [5] Group 5: Project Developments and Future Outlook - The non-oriented silicon steel project is progressing well, with the first production line expected to meet demand from key clients in the automotive sector [6] - The VAMA joint venture is operating at near full capacity, with total sales around 1.6 million tons [7] - Future developments for VAMA include the introduction of advanced steel grades and the construction of a third phase project, which is currently in feasibility studies [8][9]

Group 1: Financial Performance - The company's performance in the first half of the year, especially in Q2, showed significant improvement year-on-year and quarter-on-quarter, exceeding market expectations due to three main factors: a notable decline in raw material prices, elimination of previous short-term disruptions, and stable competition in the high-end steel market [2][4]. - In H1 2025, the company achieved a steel sales volume of 11.1 million tons, a decrease of 12.6% year-on-year, with an adjusted decline of about 10% when excluding direct sales of steel billets [8]. Group 2: Pricing and Inventory Management - The pricing for specialty steel products is negotiated individually, typically 1-2 months in advance, based on current raw material costs and customer requirements, ensuring a relatively stable profit margin compared to ordinary steel [3]. - The company maintains a lean inventory strategy, with iron ore inventory cycles of approximately 22-25 days and coal/coke inventory cycles of 10-15 days, using a first-in-first-out method for accounting [3]. Group 3: Market Outlook and Demand - The third quarter is traditionally a slow season, particularly for thin plate products, with a slight decline in demand from sectors like home appliances and engineering machinery, although there was some improvement in automotive steel orders [4]. - The company anticipates that industry profitability may narrow in Q3 due to rising raw material prices, particularly coking coal, which has increased significantly more than steel prices [4]. Group 4: Export Strategy - The company views "buy order exports" as detrimental, leading to lower overseas prices and triggering anti-dumping measures, and plans to enhance its overseas presence, particularly in the Middle East and Europe [5]. Group 5: Compliance and Industry Standards - The company has applied for "leading standard enterprise" status under the 2025 Steel Industry Norms, which aims to promote high-quality development and optimize supply in the steel industry [6][7]. Group 6: Capital Expenditure and Dividends - The company plans to invest in projects focused on product structure upgrades and ultra-low emissions, with a capital expenditure of approximately 1 billion yuan in 2025, where 40%-50% will be allocated to ultra-low emissions projects [11]. - The cash dividend ratio has steadily increased, reaching 34% of net profit for 2024, with projections for a combined ratio of 44%-54% for 2024 and 2025 due to ongoing share buyback plans [11].

Financial Performance - The company achieved revenue of 843 million CNY in the first half of 2025, a year-on-year increase of 2.40% [3] - Net profit attributable to shareholders reached 61.83 million CNY, up 12.82% year-on-year [3] - Medical services segment revenue was 653 million CNY, growing 2.28% year-on-year [3] - Medical device segment revenue was 190 million CNY, with a year-on-year increase of 2.80% [3] Oncology Services - Revenue from oncology services reached 215 million CNY, a significant increase of 25.14% [3] - The number of level IV surgeries increased by 6.62% [3] - The outpatient volume at Friendship Hospital reached 24,200 visits, up 21.59% year-on-year [3] - The proportion of level IV surgeries at Friendship Hospital increased by 8 percentage points [3] Medical Device Market - The company’s infusion pump market share exceeded 10%, ranking third in the domestic market [16] - The mammography device market share is approximately 10%, also ranking third [17] - Overseas revenue for medical devices grew by 35% year-on-year [18] AI Integration - AI applications have improved clinical capabilities, reducing complication rates by 10% and average hospital stays by 1-2 days [15] - The efficiency of image diagnosis increased by 66%, and patient follow-up efficiency improved by 300% [15] - Patient Net Promoter Score (NPS) reached 92.5%, surpassing the industry average of 90% [15] Hospital Operations - Sichuan Friendship Hospital generated revenue of 291 million CNY, maintaining stability amid competition [6] - Suzhou Guangci Hospital achieved revenue of 269 million CNY, with a year-on-year growth of 1.69% [7] - The company’s managed hospitals, including Yuncheng Hospital, have seen significant operational improvements, with surgical volumes increasing by 18% [12] Strategic Developments - The acquisition of Changsha Kexin Oncology Hospital enhances the company’s oncology ecosystem and regional presence [10] - The company is focusing on differentiated services and expanding its service ecosystem through partnerships and AI integration [9]