Group 1: Company Overview and Sales Model - The company specializes in home hardware products, including sliding rails, hinges, and kitchen and bathroom accessories, serving industries such as custom furniture and appliances [2][3] - The sales model combines direct sales and agency sales, focusing on large clients while expanding the agency network to cover various markets [3][6] - As of the first half of 2025, domestic and international sales each accounted for 50%, with channel sales making up approximately 30% [6] Group 2: Core Competencies - Key competitive advantages include R&D and technological innovation, particularly in smart and automated products [4] - Lean manufacturing and cost control are emphasized to maintain product consistency and reliability while optimizing costs [4] - A robust channel network and customer service capabilities are crucial for market penetration and customer retention [4] Group 3: Market Differentiation - Domestic brands offer high cost-performance ratios and rapid product iteration compared to foreign brands, which are often associated with higher price points [5][6] - Domestic companies have extensive coverage from urban to rural areas, establishing strong ties with small furniture manufacturers and renovation companies [5] - Brand awareness is rapidly increasing for leading domestic firms through digital marketing strategies, while foreign brands maintain a reputation for high-end reliability [5][6] Group 4: Future Market Drivers - The demand for renovation and partial upgrades in existing homes is a significant growth driver as the real estate market matures [7] - Consumer preferences are shifting towards higher quality and functionality, leading to increased demand for premium hardware products [7] - The trend of full-house customization is growing, requiring higher standards for hardware components [7] - Upgrades in manufacturing and supply chain integration are enhancing efficiency and market share for leading companies [7]

| | 特定对象调研 | 分析师会议 | | --- | --- | --- | | 投资者关系活动类 | 媒体采访 | □业绩说明会 | | 别 | 新闻发布会 | □路演活动 | | | 现场参观 | | | | | 其他（请文字说明其他活动内容） | | | 民生证券 尹会伟 | | | | 民生证券 孔厚融 | | | | 开源证券 李苗钰 | | | | 广发证券 吴坤齐 | | | | 前海人寿保险 | 程正隆 | | | 陕西海拓实业发展有限公司 | 王谨 | | | 众安在线财产保险 | 徐赛 | | | 嘉实基金 王维 | | | 参与单位名称及人 | 国联民生 樊景扬 | | | 员姓名 | 中信证券 陈卓 | | | | 中信证券 梁爽 | | | | 中信证券 韩晨 | | | | 西安普潓年华健康体检有限公司 | 刘军龙 | | | 西安普潓年华健康体检有限公司 | 蒋先运 | | | 陕西富田化肥有限公司 | 商阳 | | | 国盛证券 乾亮 | | | | 国盛证券 彭元立 | | | 时 间 | | 2025年9月16日、2025年9月17日、2025年9月19日 ...

Group 1: Company Overview - Boji Pharmaceutical Technology Co., Ltd. primarily operates as a CRO service provider, offering outsourced pharmaceutical research and development services, focusing on innovative drugs across various therapeutic areas [2][4]. - The company has multiple self-developed projects at different research stages, although none have reached the market sales stage yet [4]. Group 2: Clinical Trials and Product Development - The project involving "Semaglutide Injection" is currently in the clinical trial follow-up phase, with the timeline for completion and market application dependent on project progress and client drug approval schedules [3][4]. - Current research projects include traditional Chinese medicine innovative drugs for chronic heart failure and small molecule new drugs for conditions like hyperuricemia and reversible cataracts [4]. Group 3: Financial Performance and Market Position - The company emphasizes improving operational quality as a core aspect of market value management, acknowledging the disparity between its stock price and the performance of innovative drug indices [5]. - For the first half of 2025, the company's R&D expenditure was approximately 2,320,000 yuan, accounting for about 6% of its revenue [6]. Group 4: Investment and Asset Management - The company manages idle funds by investing in safe, liquid, and low-risk financial products, avoiding high-risk investments such as stock trading or derivatives [6].

广东德联集团股份有限公司投资者关系活动记录表 | 投资者关系活动 | 特定对象调研 □ 分析师会议 | □ | | --- | --- | --- | | 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 （广东辖区 年投资者网上集体接待日活动） 2025 | √ | | 参与单位名称及 | 线上参与广东辖区 2025 年投资者网上集体接待日活动的投资者 | | | 人员姓名 | | | | 时间 | 年 9 月 19 日 （周五） 下午 15:30~17:00 | 2025 | | 地点 | 全景网"投资者关系互动平台"（https://ir.p5w.net） | | | 上市公司接待人 | 1、董事长、总经理 徐团华 | | | 员姓名 | 2、董事、副总经理 徐庆芳 | | | | 3、董事会秘书 陶张 | | | | 4、财务总监 谭照强 投资者提出的问题及公司回复情况 | | | | 公司就投资者在本次说明会中提出的问题进行了回复： | | | | 1、贵公司液冷产品在手订单有多少？ | | | | 尊敬的投资者 ...

| | 答：您好，2025 年上半年，公司营收 亿元，同比增长 2.70 | | --- | --- | | | 万元，同比下降 15.82%；归母净利润 1471.07 9.35%。收入增长 | | | 得益于市场开拓与产品结构优化。利润下降主要是受公司增资扩 | | | 产项目部分在建工程转固以及转固后相关借款利息费用化影响， | | | 导致期间费用增加。此外，2024 年公司计提减值主要是计提存 | | | 货跌价准备所致，不具有持续性。感谢您的关注。 | | 附件清单（如有） | | | 日期 | 2025-09-19 | 东莞金太阳研磨股份有限公司投资者关系活动记录表 | 投资者关系活动 □ | 特定对象调研 □ 分析师会议 | | --- | --- | | 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 （2025 年广东上市公司投资者关系管理月活动投资者 | | | 集体接待日） | | 参与单位名称及 | 投资者网上提问 | | 人员姓名 | | | 时间 | 2025 年 9 月 19 日 (周五) 下午 ...

Group 1: Financial Performance and Shareholder Returns - The company plans to implement a high cash dividend policy, with annual cash dividends not less than 70% of the net profit attributable to shareholders from 2024 to 2026, and a minimum of 0.45 RMB per share [4][5] - In 2024, the company will distribute a dividend of 4.50 RMB per 10 shares (including tax), marking a near 100% payout ratio, following a 5.00 RMB per 10 shares distribution in 2023 [3][4] - The company has initiated a share repurchase plan with a total fund of up to 100 million RMB, aiming to enhance shareholder value [3][4] Group 2: Market Conditions and Cost Management - The company anticipates a decrease in coal costs for Q3 2025 due to a lag in price changes affecting cement production costs [2] - The company is adjusting its business strategy in response to market conditions, particularly in the probiotics sector [2] Group 3: Strategic Initiatives and Future Outlook - The company is focusing on enhancing operational efficiency through digitalization and smart technologies, including IoT and AI [2] - The company aims to improve its market value management in accordance with regulatory guidelines, enhancing shareholder returns [4][5]

Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of 244,148.52 million yuan, a year-on-year increase of 18.44% [2] - The net profit attributable to shareholders was 23,318.77 million yuan, reflecting a year-on-year growth of 47.38% [2] - The company has a negative retained earnings due to historical losses in precision structural components, which affects its ability to distribute dividends [4][5] Group 2: Market Position and Strategy - The company aims to maintain a high growth trajectory in the second half of the year, focusing on high-end machine tools and overseas market development [2] - The company is closely monitoring trends in the humanoid robot sector and is committed to innovation in technology and product development [3] - The establishment of a production base in Vietnam is expected to enhance global competitiveness and reduce operational costs [3] Group 3: Shareholder Engagement and Corporate Actions - As of September 10, 2025, the number of shareholders reached 99,568, an increase of 3,778 from the previous period [6] - The company is currently advancing a private placement of shares, pending approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission [6] - The company is considering future share buybacks based on market conditions and stock performance [6]

Group 1: Investment and Expansion Plans - The company plans to raise up to 1.5 billion RMB for investments in composite current collector projects, canned easy-open lid manufacturing projects, and supplementary flow [4][13] - The subsidiary Shantou Yinglian will introduce investors through a capital increase of up to 200 million RMB, primarily for its easy-open lid business [2][3] Group 2: Production Capacity and Financial Performance - The company has a project plan for composite current collectors with a total investment of 3.089 billion RMB, aiming for a production capacity of 1 billion square meters of composite aluminum foil and 500 million square meters of composite copper foil [3][4] - The revenue from canned easy-open lids increased by 29% year-on-year, contributing to the overall performance improvement [7][13] Group 3: Strategic Partnerships and Market Opportunities - The investment partner, Guangdong Provincial Yuecai Industrial Technology Equity Investment Fund, focuses on supporting quality projects in new energy, new materials, and intelligent manufacturing [6] - The implementation of the new national standard GB 38031-2025 for electric vehicle batteries is expected to accelerate the application of composite current collectors due to their safety and lightweight advantages [9] Group 4: Future Business Strategy - The company will continue to promote the synergistic development of the metal packaging products sector and the composite current collector sector, adhering to a "dual main business" strategy [11][12] - The company is actively pursuing the development of solid-state battery materials, with ongoing testing and collaboration with leading automotive and battery manufacturers [15][16]

Group 1: Financial Performance - In the first half of 2025, the company achieved a revenue of 5.964 billion CNY, with membership income contributing 2.496 billion CNY, advertising revenue at 1.587 billion CNY, and operator business income of 800 million CNY, showing a year-on-year growth of approximately 7% [2][3] - The average monthly active users of Mango TV increased by 14.24% year-on-year, with daily usage time remaining among the industry leaders [2] Group 2: Content and Programming - The talent show "Voice of the Future 2025" was launched globally, with extensive promotion across various platforms including Weibo, Douyin, and Bilibili [3] - The company is committed to producing high-quality dramas, with a 69% year-on-year increase in effective viewership for its dramas in the first half of 2025 [7] Group 3: Strategic Partnerships and Innovations - Mango TV has established a partnership with Douyin for a short drama support plan, focusing on quality content and commercialization [4] - The company has initiated a three-year action plan (2025-2027) for international expansion, aiming for a daily active user growth of threefold [7] Group 4: Regulatory and Industry Impact - The implementation of the "Broadcasting 21 Regulations" by the National Radio and Television Administration is expected to enhance content supply and industry confidence [3] - The company is actively involved in the "Xiangchao" football league, providing live broadcasts and related programs [6] Group 5: Technological Advancements - The company has developed a comprehensive solution for virtual digital humans, including advanced modeling and interaction technologies [8] - Mango TV is enhancing its gaming platform "Mango Fun," integrating IP, technology, and traffic to create an immersive experience [8]

Group 1: Business Collaboration and Financial Outlook - The company cannot disclose specific business collaborations with Huawei due to confidentiality agreements, which raises concerns for investors about the company's financial health given its continuous losses [2][3] - The company is optimistic about gradually overcoming its financial difficulties through internal adjustments and market responsiveness [2] - Financial information regarding the company's performance will be disclosed through official announcements [3] Group 2: Product Development and Market Position - The company is developing the 800G optical module and has initiated ODM custom development for LPO (Linear Pluggable Optical Module), receiving initial orders, but profitability remains limited due to the small scale of operations [3][4] - The 800G NPO (Near-Package Optical) project is still in the R&D phase and has not yet achieved mass production, indicating potential uncertainties in future progress [3][4] - The company continues to supply 200G and below optical module products normally [4][5] Group 3: Strategic Focus and Growth - The company is focusing on "technological independence, green transformation, and domestic demand-driven growth" to enhance its core competitiveness [6][7] - The core business segment of magnetic components achieved a 11.9% sales growth compared to the same period last year, demonstrating resilience against market fluctuations [7] - New products have been launched in both magnetic components and optical modules to meet diverse customer needs [7][8] Group 4: Acquisition and Market Expansion - The acquisition of ABB's electric transportation division is aimed at leveraging ABB's brand influence and complete charging pile industry chain to enhance the company's market position [8][9] - The partnership is expected to facilitate rapid penetration into the domestic market and reduce barriers for overseas market expansion [9] Group 5: Future Plans and Risks - The company has no current plans for restructuring or acquisitions unless required by regulatory obligations [10] - Investors are advised to be cautious regarding the uncertainties surrounding the development and production timelines of the 800G optical modules and the 1.6T modules, which are only being developed in collaboration with JDM [11][12]