| | □特定对象调研 | □分析师会议 | | --- | --- | --- | | 投资者关系 | □媒体采访 | □业绩说明会 | | 活动类别 | □新闻发布会 | □路演活动 | | | √现场参观 | √电话会议 | | | □其他： 国泰海通证券：余玫翰 | | | | 深圳豪世资本私募证券基金管理有限公司：钟兆繁 天津文浩私募证券投资基金管理有限公司：曹丽强 | | | 参与单位名 | 海南珺德投资控股有限公司：熊伟 | | | 称及人员姓 | 华鑫证券：吕卓阳 | | | 名 | 华福证券：李琦 | | | | 中航证券：刘牧野 | | | | 招商证券：鄢凡 | | | | 诚通证券：赵绮晖 | | | | 中银证券：李圣宣 | | | 时间 | 2025 年 12 月 4 日下午 15:30-下午 | 17:30 | | 地点 | 优特利公司会议室及电话接入 | | | 公司接待人 | 英力股份董事、董事会秘书：鲍灿 | | | 员姓名 | 优特利董事长：王继生 | | | | 优特利副总经理：罗强 | | 安徽英力电子科技股份有限公司 投资者关系活动记录表 编号：2025-005 证 ...

Group 1: Company Overview - Zhejiang Xinkai Technology Group Co., Ltd. raised CNY 165 million for R&D center and headquarters construction, and CNY 79.23 million for repaying bank loans, with projects progressing as planned [1] - The R&D center and headquarters are expected to be operational by Q3 2026 [1] Group 2: Production and Manufacturing - The company has two production bases; Liaoning Xinkai Industrial Co., Ltd. began trial production in 2024, gradually increasing capacity [1] - The products from self-built bases are focused on high value-added and high-performance products, which are expected to positively impact overall gross margin [1] Group 3: Sales and Pricing Strategy - The company employs a customized pricing strategy based on diverse downstream customer needs, with periodic or ad-hoc price negotiations [1] - Strong price transmission capability allows the company to adjust prices in response to significant cost fluctuations [1] Group 4: Gross Margin Comparison - The company's gross margin is relatively stable, differing from peers due to distinct business models and pricing strategies [2] - The company’s model involves customized procurement and sales, leading to stable gross margins compared to competitors affected by raw material prices and production capacity [2] Group 5: Future Development and Strategy - Future focus will be on organic pigment product development, driven by market demand and technological innovation [2] - The company aims to enhance R&D capabilities and smart factory construction to improve production efficiency and adaptability to market changes [2] Group 6: Export and International Market Impact - The company’s products play a significant role in the global supply chain, with a large portion being irreplaceable [2] - Price adjustment mechanisms allow the company to pass on most additional costs to downstream customers, minimizing operational impact from international trade barriers [2]

Group 1: Company Overview - The company focuses on precision functional components, structural components, and automation equipment, aiming to become a core supplier in the "end-side AI" and "new energy" sectors [2] - The company has established a solid cooperative relationship with major clients, emphasizing a strategy of "old customers with new products, new customers with old products" [4] Group 2: Financial Performance - In the first three quarters of 2025, the company achieved revenue of CNY 227,836.22 million, representing a year-on-year growth of 28.59% [4] - The net profit attributable to shareholders, excluding non-recurring items, was CNY 21,695.48 million, with a year-on-year increase of 33.02% [5] Group 3: Strategic Partnerships and Developments - The company is actively collaborating with Meta, which is expected to become a new growth opportunity in the coming year [2] - The acquisition of Vistek, which supplies carbon fiber composite materials for foldable screens, is part of the company's strategy to enhance its core competitiveness in lightweight materials [5] Group 4: Future Outlook - The company expresses confidence in its overall business performance for 2025, with ongoing development of new projects and clients [4] - Future mergers and acquisitions will focus on enhancing core competitiveness and seeking projects that provide synergistic effects in customer expansion, technological innovation, and cost control [5]

Group 1: Company Operations and Supply Chain - The company independently develops and widely applies core components such as spindles, power turrets, and turntables, which enhances product quality, production efficiency, and customer satisfaction while reducing procurement costs [2][3] - The company selects external components based on comprehensive machine performance requirements, customer preferences, and supply cycles, primarily opting for brands like Fanuc, Mitsubishi, and Siemens, while also collaborating with domestic brands [2][3] Group 2: Market Trends in Consumer Electronics - The consumer electronics industry is currently experiencing a high level of prosperity, supported by multiple factors, indicating reasonable sustainability of growth [3] - The company's core product, the drilling and tapping machine, has a small sales proportion due to previous capacity limitations, but this is expected to increase rapidly as capacity improves [3] - Key industry growth drivers include structural adjustments in 3C orders, the replacement of outdated equipment, innovation in end products, and the acceleration of product iterations driven by AI technology [3] Group 3: Future Trends in CNC Machine Tool Industry - CNC machine tools are crucial for the transformation and upgrading of China's manufacturing industry, with broad applications across various sectors [4] - The domestic market is witnessing a gradual increase in market share for domestic machine tools, supported by policy incentives and the growing demand in sectors like consumer electronics and new energy vehicles [4][5] - The CNC rate in China is expected to rise significantly, creating substantial market opportunities for CNC machine tool enterprises [5] - The competition is intensifying, with market share increasingly concentrating among leading enterprises, while smaller firms face challenges due to limited technical reserves and financial strength [5]

Company Overview - Zhejiang Yongtai Technology Co., Ltd. was established in 1999 and listed in 2009, headquartered in Taizhou, Zhejiang Province, specializing in fluorine fine chemical manufacturing [2][3] - The company operates multiple production bases across Zhejiang, Inner Mongolia, Fujian, and Guangdong, ensuring sufficient capacity to support future growth [3] Financial Performance - In the first three quarters of 2025, the company achieved revenue of CNY 402,835.11 million, a year-on-year increase of 20.65% [4] - The net profit attributable to shareholders was CNY 3,255.39 million, marking a return to profitability [4] Business Segments and Strategies Lithium Battery Materials - The company has established a vertically integrated supply chain for lithium materials, with production capacities as follows: - Solid lithium hexafluorophosphate: approximately 18,000 tons/year - Liquid lithium bis(fluorosulfonyl)imide: 67,000 tons/year (equivalent to 20,000 tons/year in solid form) - Additives: VC at 10,000 tons/year; FEC at 3,000 tons/year - Electrolyte: 150,000 tons/year [5] - Future plans include enhancing R&D and product offerings to meet diverse customer needs [5] Pharmaceutical Sector - The pharmaceutical segment covers key therapeutic areas including cardiovascular, diabetes, central nervous system, anti-infection, and antiviral, with a vertically integrated supply chain for fluorinated intermediates and active pharmaceutical ingredients [6][7] - The company aims to leverage advanced technologies for deeper development in these areas [7] Agricultural Protection - Focused on fluorinated herbicides, fungicides, and insecticides, the agricultural segment is expanding its global market presence through vertical integration and leveraging overseas registration resources [8] - Plans include enhancing production processes and promoting sustainable agricultural solutions [8] Market Dynamics and Pricing - The price fluctuations of key materials like lithium hexafluorophosphate are influenced by supply-demand dynamics, industry competition, and raw material costs [9] - The company employs a market-driven pricing mechanism for lithium materials, adjusting based on market conditions and customer strategies [12] Production Capacity and Utilization - Current VC production capacity stands at 10,000 tons, with 5,000 tons added in November 2025, expected to be gradually released [10] - The company maintains a high capacity utilization rate to ensure timely order fulfillment [10] Segment Performance - In the first three quarters of 2025, the agricultural protection segment saw a revenue increase of 39.77%, while the lithium materials segment experienced a significant growth of 112.09% [17] - The pharmaceutical segment faced challenges with a revenue decline of 30.62% due to patent expirations and increased competition [18] Future Financing Plans - The company maintains stable relationships with banks and financial institutions, planning to assess and pursue financing opportunities aligned with its strategic needs [18]

超捷紧固系统(上海)股份有限公司 证券代码：301005 证券简称：超捷股份 投资者关系活动记录表 编号 2025-026 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 1、东吴证券 戴晨 时间 2025年12月4日 下午15:00-16:20 地点 子公司无锡超捷会议室 上市公司接待人员 姓名 1、公司董事会秘书、财务总监 李红涛 2、公司证券事务代表 刘玉 1、请介绍下贵公司汽车业务的基本情况。 公司长期致力于高强度精密紧固件、异形连接件等产品的研 发、生产与销售，产品主要应用于汽车发动机涡轮增压系统，换 挡驻车控制系统，汽车排气系统，汽车座椅、车灯与后视镜等内 外饰系统的汽车关键零部件的连接、紧固。在新能源汽车上，产 品主要应用于电池托盘、底盘与车身、电控逆变器、换电系统等 模块。此外，公司的紧固件产品还应用于电子电器、通信等行 业。 2、公司汽车业务营收保持增长的主要动力有哪些？ ①汽车零部件出口的拓展，海外市场是公司的战略重点之 一，基于公司与麦格纳、法雷奥、博世等国际一级供应商多年良 好的合作关系，为海外市场拓 ...

Group 1: Company Transformation and Management Changes - The company has implemented six major management transformations since the restructuring in 2022, focusing on quality management, lean management, integrated supply chain management, integrated product development, organizational transformation, and digital transformation [2][3][4]. - The continuous improvement in net profit margin is attributed to effective management changes and a solid foundation for growth, with a focus on scale effects and cost control measures [4][5]. Group 2: Cost Reduction and Efficiency Improvement - The company has set comprehensive cost reduction targets that include procurement, production processes, design optimization, and expense control, with a focus on enhancing operational quality and efficiency [6][7]. - Fixed costs are strictly controlled through dynamic monitoring, while hidden costs are reduced via lean management practices and digital transformation initiatives [7][8]. Group 3: Order and Revenue Insights - As of November 2025, the company has an order backlog of 37.9 billion CNY, with material handling equipment accounting for 36.9% of this total [8][9]. - The order distribution by sector includes mining (9%), metallurgy (23%), energy (24%), ports (17%), and shipbuilding (4%) [9]. Group 4: Product Performance and Market Position - The gross margin for material handling equipment has improved significantly, rising from 15-16% in 2021-2022 to 24-25% currently, driven by strong competitive advantages and market demand [10][11]. - The company has established strategic partnerships with major global players, enhancing its international market presence and product competitiveness [10][11]. Group 5: Future Growth and Strategic Goals - Future growth drivers are expected to focus on bulk material handling and wind power products, with plans to strengthen overseas market expansion and increase market share [12][13]. - The company aims to achieve steady growth in net profit margins through ongoing management reforms and alignment with national policies supporting heavy equipment development [13][14]. Group 6: Shareholder Engagement and Capital Expenditure - The company is implementing a stock incentive plan to enhance governance and attract talent, aligning the interests of shareholders and the core team [14]. - Future capital expenditures will focus on strategic areas such as smart manufacturing and internationalization, with a commitment to balancing development investments and shareholder returns [14].

Financial Performance - The company's revenue for the first three quarters of 2025 was 16.52 billion CNY, representing a year-on-year growth of 18.29% [2] - The net profit attributable to shareholders for the same period was 3.23 billion CNY, with a year-on-year increase of 61.97% [2] - The growth in performance is attributed to the increase in metal prices [2] Production and Operations - The main product of the company is concentrate, with metal quantities needing to be calculated separately, typically disclosed in the annual report [2] - The expected production capacity of Honglin Mining after full production is 396,000 tons/year, with an average gold grade of 2.82 g/t and copper grade of 0.48% [4] - Honglin Mining is currently in the trial production phase, which will last until December 10, 2025 [4] Licensing and Compliance - The safety production license for Honglin Mining is expected to be obtained within 3-6 months after the trial production phase [3] - The company emphasizes the importance of safety production, with significant investments made annually to meet government safety requirements [8] Cost Management - The cost structure is influenced by multiple factors, including safety production requirements and the simplicity of the ore selection process, which helps control costs [8] - Jinshan Mining's technological improvements have primarily reduced the cost of ore selection while increasing the recovery rates of silver and gold [8] Future Growth Expectations - The company anticipates an increase in gold production following the official launch of Honglin Mining [9] - The Dongsheng Mining project, with a capacity of 250,000 tons/year, is under construction and expected to contribute to silver, lead, and zinc production growth [9] - Jinshan Mining's production capacity is projected to gradually increase to 480,000 tons/year, with plans to expand further based on resource availability [9] Shareholding Structure - The company holds a 62.96% stake in Yindu Mining, 100% in Guangda Mining, Jindu Mining, and Jinshan Mining, 54% in Deyun Mining, and 53% in Honglin Mining [10]

Group 1: Wind Power Industry Overview - As of September 30, 2025, the total installed wind power capacity in China reached 581.6 GW, accounting for 15.6% of the total power generation capacity, with thermal power at 40.4% [2][3] - From January to September 2025, the newly added wind power grid-connected capacity was 61.1 GW, representing a year-on-year increase of 56.2% [2][3] Group 2: Tender and Pricing Situation - By September 30, 2025, the newly added tender volume in the domestic public tender market was 102.1 GW, a decrease of 14.3% compared to the same period last year [2][3] - The average bidding price for wind turbine units in the market as of September 2025 was 1,610 CNY per kW [2][3] Group 3: Company Order Status - As of September 30, 2025, the company had a total of 49,874 MW in external orders, with 605 MW (1%) from units below 4 MW, 7,716 MW (16%) from units between 4 MW and 6 MW, and 41,553 MW (83%) from units above 6 MW [2][4] Group 4: Information Security and Privacy Protection - The company adheres to multiple laws regarding cybersecurity and data protection, including the Cybersecurity Law and the Personal Information Protection Law, and has established a comprehensive information security management system [4] - The company achieved ISO 27001 certification in 2019 and upgraded to the 2022 version in 2024, enhancing its information security capabilities [4]

长飞半导体、芯联集成、拓荆科技、厦门三安、华润微电子、广东芯粤能、重庆万国、 | | 深圳润鹏等。 | | --- | --- | | | 3、公司与上海寰鼎集成电路达成战略合作，后续的具体进展？ | | | 答：公司下属基金已与上海寰鼎签订投资意向性协议，正式协议目前正在磋商中， | | | 具体进展请以公司后续公告为准。 | | | 4、上海寰鼎集成电路主营业务是什么，业绩如何？ | | | 答：上海寰鼎主营业务包括三块：一是快速退火炉的研发、生产制造及销售；二是 | | | 全球知名品牌半导体设备的代理；三是 耗材的研发及推广。 wafer solution | | | 5、公司 2025 年度盈利水平及现金流如何？ | | | 答：公司金属包装及塑料包装主业 年度经营及盈利水平正常，完成 年 2025 2025 12 | | | 月份结账后，如达到披露要求，公司将披露 2025 年度业绩预告，请关注公司后续公告。 | | | 6、公司目前的主要客户情况？ | | | 答：公司目前主营业务为包装产品的研发、生产及销售，主要客户为阿克苏、立邦、 | | | 艾仕得、PPG、壳牌、美孚、康普顿、大联石油化工 ...