证券代码：002408 证券简称：齐翔腾达 回复：反内卷政策有效遏制了化工行业的低水平重复建设， 促进了落后产能的淘汰，推动行业从单一的价格竞争转向技术、 效率和绿色发展的综合竞争。在政策的有力引导下，行业集中度 预计将进一步增强，龙头企业将因市场秩序的改善而显著受益。 目前，己内酰胺、有机硅等行业在产业协同方面表现突出，通过 协同合作实现了行业的良性循环，为其他行业提供了可借鉴的成 功范例。公司将积极顺应政策导向，密切关注政策动态与市场变 化，灵活调整经营策略，持续强化成本控制和运营效率，优化存 量资源，提高市场占有率，巩固在甲乙酮、顺酐等细分领域的领 先地位，力争在行业回暖周期中实现更高质量的发展。 4、当前新材料公司的功能定位是怎样的？ 回复：新材料公司作为公司的控股股东，坚定支持公司产业 发展，通过资源整合、股权并购、战略合作及产业协同等多维度， 推动公司在高端化学品、新材料等领域的布局优化与技术升级。 其功能定位不仅局限于资本运作平台，更是整个新材料板块产业 协同的核心枢纽，致力于推动技术创新、产业整合、资源配置与 市场拓展的深度融合，助力构建全产业链竞争优势，从而在行业 结构性变革中抢占发展先机。 ...

周大生珠宝股份有限公司 代码：002867 证券简称：周大生 编号：2025-042 投资者关系活动记录表 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(电话会议) 参与单位名称 及人员姓名 共计 2 位投资者（排名不分先后）： 信达证券：骆峥 尚正基金：王惠民 时 间 2025 年 12 月 5 日 地 点 总部会议室 上市公司接待人员 姓名 证券事务代表：荣欢 投资者关系活动 主要内容介绍 一、 问答环节： 投资者主要就行业情况、自营店规划、国家宝藏、产品结构、产品 毛利率情况、终端销售情况、分红规划等进行了交流，可参阅前次活动 记录表之问答和已披露公告。 接待过程中，公司严格按照《信息披露管理制度》等规定，保证信 息披露的真实、准确、完整、及时、公平，没有出现未公开重大信息泄 露等情况。同时，现场调研的投资者已按深交所要求签署承诺函。 附件清单（如有） 无 日期 2025 年 12 月 5 日 ...

Group 1: Business Overview - The company operates in two main sectors: automotive parts and new energy storage [2] - Automotive parts include R&D, production, and sales of transmission system products for passenger vehicles, commercial vehicles, and new energy vehicles [2] - The new energy storage business focuses on power generation side storage stations, grid side independent storage stations, and user side storage stations [2] Group 2: Passenger Vehicle Transmission Development - The company is expanding its CVT automatic and MT manual transmission products into international markets such as Europe, Southeast Asia, and the Middle East [3] - The growth in electric vehicle (EV) penetration is expected to drive sales of EV reducers and related products [3] Group 3: Commercial Vehicle Transmission Development - The company has a competitive advantage in the light truck transmission market, with significant sales growth in 2025 [4] - Focus on electric products for light trucks, including P2 and PS hybrid systems, with increased single vehicle value compared to manual products [4] - Heavy-duty truck transmission products are a key area for expansion, with performance comparable to international brands and a cost advantage [4] Group 4: Non-Road Transmission System Development - The company is developing products such as electric drive systems for construction machinery and CVTs for high-horsepower tractors [5] - New products have been launched, with positive client feedback and increased single vehicle value compared to passenger vehicle products [5] Group 5: Robotics Components Development - A dedicated robotics subsidiary has been established to focus on precision transmission products for robots [6][7] - The production line for robotic joint precision transmission products is expected to be operational by May 2026 [7] - The product platform includes harmonic reducers and planetary reducers, catering to various robotic applications [7] Group 6: New Energy Storage Business Development - The company has operational grid-side independent storage stations in Zhaoqing and Yiwu, with capacities of 100MW/200MWh and 100MW/200MWh respectively [7] - Ongoing construction of additional storage stations in Foshan and Yiwu, with expected completion by the end of 2025 [7] - The company is actively expanding its footprint in multiple regions for independent storage projects [7]

苏州银行股份有限公司投资者关系活动记录表 1 | | 3、如何展望全年拨备覆盖率水平？ | | --- | --- | | | 答：截至 年 月末，集团拨备覆盖率 2025 9 420.59%， | | | 持续保持较厚的风险抵补能力。本行将继续按照审慎性原 | | | 则，计提好充足的拨备，预计全年拨备覆盖率将保持相对 | | | 稳定水平。 | | 关于本次活动是否 | 接待过程中，公司接待人员与投资者进行了充分的交流与 | | 涉及应披露重大信 | 沟通，严格按照有关制度规定，没有出现未公开重大信息 | | 息的说明 | 泄露等情况。 | | 活动过程中所使用 | | | 的演示文稿、提供的 | | | 文档等附件（如有， | | | 可作为附件） | | 2 | 编号：2025-18 | | | --- | --- | | 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） | | | 调研人员：中信建投马鲲鹏、李晨，富国基金徐健荣，长 | 信基金吴廷华，H ...

Group 1: Company Strategy and Future Plans - The company aims to expand its logistics and warehousing services, focusing on international freight, futures delivery, and bonded warehousing, to become a leading global bulk commodity logistics service provider [3]. - The company is actively responding to the national "Belt and Road" initiative by expanding overseas operations and enhancing international competitiveness [3]. Group 2: Information Technology and Digitalization - The company plans to continuously improve and upgrade its existing business management platform, promoting information and digital construction to optimize business processes and enhance service efficiency [3]. Group 3: Financial Performance Metrics - In the first half of 2025, the gross profit margin for transportation services was approximately 5.26%, while the gross profit margin for comprehensive warehousing services was about 57.86% [3].

Group 1: Company Overview and Core Competencies - The company focuses on manufacturing special equipment for anti-corrosion and anti-wear applications, expanding into industrial equipment and high-end structural components [1] - It possesses key core technologies in materials, processes, and equipment, along with comprehensive production qualifications including national and international certifications [1] - The management team has extensive industry experience, contributing to strong R&D capabilities and stable operations [1] Group 2: Market Opportunities and Strategic Expansion - The company is actively expanding into international markets while maintaining its leading position domestically, with a focus on overseas subsidiaries [2] - There is a growing demand in the waste incineration market and significant potential in the coal-fired power generation sector, as well as in chemical, metallurgy, and paper industries [2] - The company has strategically positioned itself in HRSG and oil and gas composite pipe businesses, with HRSG already achieving a certain scale of production [2] Group 3: Order Backlog and Financial Performance - As of June 30, 2025, the company had signed contracts with a revenue amount of approximately CNY 377 million that are yet to be fulfilled [3] - The order backlog has been growing at over 30% as of September 30, 2025, indicating strong demand and sufficient orders [3] Group 4: Technological Applications and Product Details - The company's welding technology can be applied in controlled nuclear fusion, utilizing metal composite techniques for high-temperature alloy manufacturing [4][5] - TIG welding offers significant advantages in oil and gas pipelines, enhancing corrosion resistance and extending equipment lifespan [6][7] - The production cycle for HRSG products is approximately 6 months, with a high value contribution to the overall boiler system [7] Group 5: Competitive Landscape and Market Position - The company faces competition in the North American HRSG market primarily from manufacturers in South Korea, Thailand, and Vietnam [10] - It has established a strong customer base in North America and possesses comprehensive production qualifications, giving it a competitive edge in production costs [10]

Group 1: Company Overview and Strategy - The company utilizes modified PLA materials for 3D printing, enhancing properties like heat resistance and impact resistance compared to standard PLA [2] - The company has established a core technological barrier based on deep modification capabilities, integrated manufacturing, and standard-setting [3] Group 2: Market Position and Competition - The company faces intense market competition but maintains structural advantages through customized solutions and a comprehensive response capability across the supply chain [3] - Significant investment in R&D and production capabilities creates high barriers for new entrants in the biodegradable materials sector [3] Group 3: Production and Capacity - The company’s order delivery period typically ranges from 30 to 45 days, with production plans adjusted based on real-time customer orders [4] - The first phase of the 3D filament production line in Thailand has reached stable production, with full capacity expected by year-end [5] Group 4: Financial Management and Capital Expenditure - Recent capital expenditures have been high due to market opportunities, with future spending focused on production expansion, equipment upgrades, and new product capacity [6] - Raw material price fluctuations significantly impact profits, with pricing strategies linked to oil prices and market demand [6]

Group 1: Financial Performance - In the first half of 2025, revenue from quartz glass materials reached 6.43 billion CNY, a year-on-year increase of 21.35%, driven by the recovery in the global semiconductor industry and demand in the aerospace sector [2] - Revenue from quartz glass products was 2.62 billion CNY, a year-on-year decline of 30.93%, primarily due to the impact of the photovoltaic sector and intensified competition in the industry [2] Group 2: Industry Outlook - The company sees strong growth opportunities in high-performance quartz glass materials and products, particularly in semiconductor, aerospace, optical, and electronic circuit industries, which are essential for major national projects [2][3] - The semiconductor market is expected to remain robust, with the company positioned to benefit from the ongoing demand for quartz glass materials in semiconductor processes [10] Group 3: Strategic Responses - To address the downturn in the photovoltaic and optical communication sectors, the company is focusing on technological advancements and process improvements to enhance production efficiency and profitability [4] - The company is actively managing costs and budgets to sustain profitability in challenging market conditions [4] Group 4: Production Capacity and R&D - The company has completed the first phase of high-purity quartz sand production with a capacity of 10,000 tons, applicable in photovoltaic and optical communication fields [10] - The high-purity synthetic quartz sand project is currently in the pilot testing phase, contributing to the company's complete supply chain [10] Group 5: Legal Matters - The company has won a first-instance judgment for 202.42 million CNY in a trade secret infringement case, which is currently under appeal [12] Group 6: Talent Management - The company emphasizes talent retention and innovation through equity incentive plans, having implemented four phases covering nearly a thousand participants to share the benefits of corporate growth [12]

Group 1: Mineral Resources and Exploration - As of the end of 2024, the company holds metal resources including 7.13 million tons of zinc, 3.66 million tons of lead, 143,000 tons of copper, 6,607 tons of silver, 90 tons of gold, 92,400 tons of nickel, 717 tons of gallium, 240 tons of germanium, and 16,500 tons of tungsten [1] - The company is a key player in the national copper, lead, and zinc strategic resource sector, with significant mining operations in Asia, including the Fan口 lead-zinc mine [1] - The company has successfully acquired multiple high-quality mining rights in Guangdong Province, enhancing its resource development capabilities [1] Group 2: Business Operations - The company has an annual production capacity of 300,000 tons of metal from lead and zinc mining and processing [2] - In the first three quarters of the year, the company achieved a total revenue of 48.505 billion yuan, a year-on-year increase of 11.81%, and a net profit attributable to shareholders of 841 million yuan, up 5.18% [2] - The company has integrated various acquisitions and resource consolidations, controlling over 10 million tons of proven resources [2] Group 3: Future Development Strategy - The company has proposed a new strategy called "One Body, Two Wings," focusing on becoming a leading enterprise with rich metal resources and developing both the copper-lead-zinc smelting and deep processing industries [3] - The strategy aims to enhance production capabilities and contribute to national supply chain security through project construction, investment mergers, and capital operations [3] Group 4: Market Outlook - The company is closely monitoring market dynamics, with expectations that global supply disruptions will support copper prices, driven by demand from sectors like renewable energy and electronics [4] - Industry reports predict that copper prices will maintain a high volatility pattern, influenced by short-term supply shocks [4] Group 5: New Materials Business - The company has entered the high-end new materials sector through internal innovation and external acquisitions, focusing on advanced materials such as high-performance powder materials and energy storage materials [5][6] - In 2023, the company acquired a leading domestic enterprise in the dual-metal sector, rapidly entering the high-end composite metal materials market [6] - The company plans to strengthen the synergy of the new materials industry chain to create long-term value for shareholders [6]

Group 1: Company Overview - The company specializes in variable frequency energy-saving and intelligent control solutions, focusing on power electronics and motor control [2] - Main products include variable frequency drives and controllers for HVAC/R, new energy vehicle thermal management systems, and servo drives and motors [2] - The company emphasizes independent innovation and R&D as the core driver for long-term healthy development [2] Group 2: Business Growth and Market Strategy - The company anticipates continued growth in the new energy vehicle thermal management sector, aligning with the global increase in penetration rates [2] - A precise product layout strategy is being implemented to target both the economical and high-end markets, enhancing competitive advantages [3] - The company is diversifying its technology paths and extending its product matrix to strengthen core areas while exploring emerging fields [3] Group 3: Robotics Sector Development - The company has accumulated a series of patents and software copyrights in core technologies related to robotics, including servo drives and motion control [3] - Ongoing development of customized products for key industries is aimed at meeting differentiated market demands [3] - Some robotic components have achieved sample delivery, but their revenue contribution remains minimal and has not significantly impacted overall performance [3] Group 4: Operational Updates - The relocation of the "New Energy Vehicle Electronics and Intelligent Manufacturing Industrial Base" has been completed successfully, with operations running normally [3] - The project has passed core customer audits and is currently in a critical capacity ramp-up phase, which is progressing smoothly [3] - The company is optimizing its product structure and accelerating its layout in emerging sectors, including HVAC/R data centers and automation [3]