Group 1: Company Overview - New Lai Clean Application Materials Co., Ltd. specializes in the research, production, and sales of clean application materials and high-purity materials, primarily serving the food safety, biomedicine, and semiconductor industries [2][3] - The company has developed a complete technical system for clean application materials and high-purity materials over more than 20 years [3] Group 2: Financial Performance - In Q3 2025, the company experienced a year-on-year revenue increase, attributed to the domestic semiconductor industry's localization trend and accelerated domestic substitution processes [4] - Despite growth, overseas business faced a decline due to geopolitical conflicts and adverse international economic conditions [4] Group 3: Product Competitiveness - The company's products in the semiconductor vacuum application field are widely recognized and used by domestic and international clients [5][6] - The "AdvanTorr" product line includes high and ultra-high vacuum components, meeting stringent requirements for various semiconductor processes [7][8] Group 4: Food Business Outlook - The food business is expected to remain stable, with no significant improvement in downstream demand in the short term [17] Group 5: Liquid Cooling Business - The company operates a liquid cooling business through a 70% owned subsidiary, focusing on CDU and related components, leveraging its expertise in sealing and corrosion resistance [18] Group 6: Future Strategic Focus - The company aims to capitalize on the domestic substitution trend in the semiconductor sector, anticipating high growth in this business segment [19] - In the food safety sector, the "equipment + packaging" business model will be maintained to enhance customer loyalty and market share [20] Group 7: Impact of International Economic Environment - The company has performed well in the semiconductor industry, benefiting from the localization trend and effective risk management strategies [21] - It plans to strengthen cooperation with domestic wafer manufacturers and equipment suppliers to enhance supply chain stability [21]

| Q：合肥调峰电站的盈利情况？ | A：已实现盈利。 | | | | | | --- | --- | --- | --- | --- | --- | | Q：公司在建项目？ | A：安徽省内 | 万千瓦风电项目，新疆 | 万千瓦光伏大基地 | 30 | 80 | | 项目和 | 万千瓦风电项目。 | 50 | | | | | 无 | 附件清单（如有） | | | | | 证券代码：000543 证券简称：皖能电力 安徽省皖能股份有限公司投资者关系活动记录表 编号：2025-11 | | 特定对象调研 分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | 投资者关系活动 类别 | 新闻发布会 □路演活动 | | | 现场参观 | | | 线上会议 其他 （1）2025 年 11 月 12 日 | | | 正圆私募侯昭慧，途灵资管赵梓峰，长信基金胡梦承，和谐健 康毛一鹏，工银瑞信基金谷衡，华安证券仇中群，中信建投裘峥、 | | 参与单位名称及 | 高兴，浙商证券翁晋翀，太平资管赵洋，国泰基金曾攀水，中银国 | | 人员姓名 | 际陆莎莎，国寿安保基金武月，泰康基金马敦超 ...

Group 1: Clinical Trial Overview - The company has received approval from the National Medical Products Administration for a Phase II clinical trial of CKBA cream for treating vitiligo in children aged 2-12 years, with a total of 30 patients enrolled over a 24-week period [3][4]. - The study showed that the 1.5% CKBA cream combined with NB-UVB therapy resulted in a VASI score improvement of -56.53%, significantly better than the control group’s -16.67% (P=0.0029) [3][4]. - The exploratory study validated the effectiveness and safety of the CKBA cream in pediatric vitiligo patients, providing a basis for larger-scale trials [3][4]. Group 2: Market Potential and Demand - There are currently no approved drugs for pediatric vitiligo globally, with an estimated 30 million vitiligo patients in China, of which 32%-40% are children [4][5]. - The annual treatment cost for pediatric vitiligo is estimated at 15,000 to 20,000 CNY, suggesting a market potential exceeding 100 billion CNY [4][5]. - If approved, CKBA is projected to achieve annual sales exceeding 5 billion CNY in the pediatric vitiligo market [4][5]. Group 3: Competitive Landscape - CKBA is the first innovative drug in China to conduct Phase II clinical trials for children under 12 with vitiligo, with no existing approved treatments [5][6]. - The drug's unique mechanism as an immune modulator offers targeted treatment, making it safer and more suitable for children compared to traditional immunosuppressants [4][5]. Group 4: Future Development Plans - The company plans to submit an application for a Phase III clinical trial for adult vitiligo based on the successful completion of Phase II trials [5][6]. - There are ongoing preparations for a Phase II/III clinical trial for CKBA in treating rosacea, with an IND application for Alzheimer's disease planned for the second half of 2026 [6][9]. - The company anticipates significant revenue growth in 2026 and explosive growth in 2027 as new products are approved [10].

Group 1: Company Overview and Strategy - The company is the largest malt producer in China and the fourth largest globally, focusing on deepening its core malt business to maintain industry leadership and become a world-class malt supplier [2] - Recent projects include the expansion of Guangmai Phase 4 and a new 130,000-ton premium beer malt project, increasing production capacity by 27%, both of which are currently operating at full capacity [2] - The company plans to continue optimizing production capacity based on customer needs and explore acquisition opportunities to enhance industry scale and influence [2] Group 2: Export Business Insights - Domestic sales account for the majority of revenue, with exports typically representing 25-30% of total sales, fluctuating based on domestic market conditions [2] - The company exports to various regions, including Southeast Asia, Central and South America, Japan, South Korea, and Africa, leveraging product quality, short transport distances, and quick response times to customer demands [2] Group 3: Pricing and Procurement Strategies - Pricing for large clients is determined through annual tenders, with contracts typically set for one year, while small to medium clients are subject to market pricing based on supply and demand [2] - The company does not engage in price locking for barley, a commodity with volatile market prices, but organizes procurement based on market trends to mitigate price fluctuations [3] Group 4: Risk Management - Key risks facing the company include industry competition, raw material price volatility, exchange rate fluctuations, changes in USD interest rates, food safety and quality control, and environmental and safety production concerns [3] - To manage exchange rate risks, the company has increased its export ratio and implemented a foreign exchange derivatives trading policy to hedge against currency fluctuations [3]

证券代码：002062 证券简称：宏润建设 宏润建设集团股份有限公司投资者关系活动记录表 编号：2025-07 | | 司已入驻宁波前湾新区，从研发到销售是否都放在前湾新区？ | | --- | --- | | | 宁波前湾新区为星际动力预留了产业用地和厂房，生产和 | | | 配套将落地前湾新区，主要研发将放在上海，宁波和上海将同 | | | 步配置销售。 | | | 5、星际动力人形机器人自发布会后有否开展升级研发？ | | | 针对运动能力和人机互动的研发工作持续推进，星际动力 | | | 正加紧招募更多自研设计团队，预计 2026 年团队人数规模将达 | | | 到 人，其中软件约占 60%，硬件约占 40%，力争明年尽 60-100 | | | 早产生一定规模的商业化收入。 | | | 6、人形机器人业务目前是否有意向客户？ | | | 端客户暂时不涉及，目前接洽的 鉴于隐私和安全考量，C | | | 主要还是以 端导览、展示和 端商用和工业场景使用为主。 G B | | | 年的战略规划是如何的？ 7、公司对星际动力未来 3-5 | | | 星际动力目标实现全场景商业落地，帮助公司实现第二增 | ...

Financial Performance - The company achieved a revenue of 1.72 billion CNY in Q3 2025, representing a year-on-year growth of 6.88%. The net profit attributable to shareholders was 160 million CNY, up 13.54% year-on-year [3] - For the first three quarters, the total revenue was 4.83 billion CNY, showing a decline of 2.45% year-on-year, while the net profit attributable to shareholders decreased by 9.68% to 428 million CNY [3] Business Overview - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with key products including compressors and heat exchangers, operating within a temperature range of -271°C to 200°C [3] - Products are widely used in various sectors such as food processing, cold chain logistics, industrial refrigeration, and special air conditioning for data centers and nuclear power [4] Product Applications - The company’s products are applied in data centers, including liquid cooling systems, with notable projects in collaboration with major data centers across China [5][6] - In the nuclear power sector, the company has developed technologies for nuclear island cooling and heat recovery, supporting several nuclear power stations in China [7] Heat Management and Energy Efficiency - The company is actively involved in heat management solutions, focusing on industrial heat pumps and waste heat recovery technologies, which align with national carbon neutrality goals [9] - The heat management segment has benefited from urban renewal and heat network upgrades, with technologies aimed at reducing energy consumption and carbon emissions in high-energy industries [9] Research and Development - The company has partnered with Xi'an Jiaotong University to develop solid oxide fuel cell (SOFC) technologies, achieving significant advancements in output characteristics and integration methods [10] - The R&D efforts have led to the development of various patented technologies and products recognized for their energy efficiency and environmental benefits [8]

Financial Performance - In Q3 2025, the company achieved revenue of 1.72 billion CNY, a year-on-year increase of 6.88%, and a net profit attributable to shareholders of 160 million CNY, up 13.54% [3] - For the first three quarters, total revenue was 4.83 billion CNY, a decline of 2.45%, with net profit down 9.68% to 428 million CNY [3] Business Overview - The company focuses on advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers, operating in a temperature range of -271°C to 200°C [3] - Key product categories include screw compressors, centrifugal compressors, absorption chillers, piston compressors, and industrial heat pumps [3] Market Applications - Products are widely used in various sectors such as food processing, cold chain logistics, industrial cooling, commercial air conditioning, and energy recovery systems [4] - The low-temperature refrigeration segment saw a slight decline, while special air conditioning and thermal management segments experienced growth [4] Data Center Solutions - The company provides cooling equipment for data centers, including liquid cooling systems, through its subsidiaries [4][6] - Dunham-Bush, a subsidiary, has a strong presence in the HVAC market and has successfully served numerous data center projects across China [5] Nuclear Power Sector - The company is actively involved in the nuclear power industry, focusing on core applications such as nuclear island cooling and heat recovery [6][7] - Recent projects include cooling systems for various nuclear power stations in China, supporting the country's nuclear energy initiatives [7] Thermal Management and Energy Recovery - The company is committed to energy management through industrial heat pumps and has developed several patented technologies [8][9] - The thermal management segment is positioned as a key growth area, benefiting from urban renewal and heat network upgrades [9] Solid Oxide Fuel Cell (SOFC) Research - Since 2022, the company has collaborated with Xi'an Jiaotong University on SOFC technology, achieving significant advancements in output characteristics and integration techniques [10] - The project has led to the development of new sealing materials and successful performance testing of SOFC modules [10]

Group 1: Business Strategy and Market Positioning - The company is focusing on the southern global market as a core area, leveraging the "Starlink Plan" for high-quality overseas expansion [5] - In 2025, the revenue from the southern global semi-trailer business increased by 15.79% year-on-year, with sales up by 21.39% [5] - The company has established local assembly and delivery centers to enhance market integration and create sustainable development ecosystems [5] Group 2: Product Development and Innovation - The company is actively integrating electric heavy trucks and autonomous driving technologies, with strategic investments in related companies [4] - In 2025, the penetration rate of new energy in China's heavy truck market reached 24.69%, up from 11.93% in the previous year [7] - The company has developed a product technology platform for pure electric head-mounted trains and is working on a closed-loop ecosystem for these products [9] Group 3: Financial Performance and Shareholder Returns - The company has announced a shareholder return plan for 2024-2026, emphasizing a commitment to dividends [8] - In the first three quarters of 2025, the company's DTB business achieved revenue of 2.333 billion yuan, promoting the continuous development of new energy products [7] - The gross profit margin for the Starlink semi-trailer and liquid tank businesses increased by 2.6 percentage points year-on-year [10] Group 4: Industry Challenges and Responses - The company is addressing intense competition in the semi-trailer industry through the "Starlink Plan," which aims to redefine the entire value chain [10] - The company has reported initial success in its anti-involution strategy, with revenue from Starlink products increasing by 16.3% year-on-year [10] - The company is focused on enhancing product quality and reducing delivery times to create higher value for customers [7]

Group 1: Industry Overview - The domestic television shipment volume has decreased year-on-year, but the penetration rate of Mini terminal products has significantly increased, contributing positively to revenue and profit [2][3] - In the first three quarters of this year, the company's net profit reached RMB 94.27 million, a year-on-year increase of 25.75%, primarily driven by the growth in core business display modules, especially Mini display modules [2] Group 2: Business Operations - The company maintains stable and orderly order intake for its core business, serving globally recognized brand manufacturers [3] - The company has implemented two phases of equity incentive plans, with the first phase focusing on net profit and the second phase including both net profit and revenue from the automotive display business [4] Group 3: Share Buyback - The company plans to repurchase shares worth no less than RMB 10 million and no more than RMB 20 million, having repurchased 187,900 shares, accounting for 0.0841% of the total share capital, with a total transaction amount of RMB 3,721,901.80 [5] Group 4: Automotive Business - The automotive business focuses on display screens and modules, with ongoing efforts to enhance and accelerate its layout and investment in this area [6] - The penetration of Mini display technology in the automotive sector is increasing, although the validation cycle for automotive products is longer than for consumer electronics [6] Group 5: Future Research and Development - The company is positioning its AI+AR glasses core display technology and optical components as seed businesses, collaborating with universities for advancements in MicroLED micro-display technology [7][8] - Current R&D focuses on high-brightness, low-power MicroLED micro-display sources and full-color display solutions, with a dedicated team of experts driving rapid progress from principle validation to prototype integration [8] Group 6: Capital Tools Application - The company is open to exploring more capital tool applications in response to market changes, having recognized internal and external development dynamics during a recent strategic meeting [8]

Company Overview - Founded in 1992, transformed into a joint-stock company in September 2000, and listed on the Shenzhen Stock Exchange in June 2004 [1] - Completed refinancing in 2024, raising a total of 943 million yuan, increasing total shares from 455,160,000 to 519,793,440 [1] - Aims to be a leader in high-end specialized equipment technology and promote industrial upgrades, focusing on carbon fiber and advanced composite materials [1] Carbon Fiber Industry Development - Initiated carbon fiber equipment manufacturing in 2013, with the first domestic thousand-ton carbon fiber production line developed in 2015 [2] - Achieved successful trial operation of the first domestically produced thousand-ton carbon fiber production line in 2020 [2] - Currently developing a full range of high-end equipment, including precursor, carbon fiber, and composite equipment, under the strategy of "equipment leading, material collaboration, application support" [2] Production Capacity and Technological Advancements - Carbonization line can produce carbon fibers with widths ranging from 0.4 meters to 4 meters, with a maximum capacity increased from 3,000 tons to 5,000 tons [2] - Ongoing research on new heating technologies, with progress on the first 0.4m wide microwave pre-oxidation heating technology [2] - The first precursor production line is in the commissioning phase, expected to significantly reduce precursor costs [3] Order Status and Market Expansion - Sufficient orders on hand, primarily for carbon fiber complete lines and core equipment, including precursor and composite equipment [4] - Focus on implementing signed orders and expanding both domestic and international markets to secure new customer orders [4] Production Capacity for Carbon Fiber Equipment - Annual production capacity of 20 sets of high-performance carbon fiber complete equipment established through funds raised in 2024 [5] - This capacity supports the company's market expansion in carbon fiber and composite equipment sectors [5] Exoskeleton Robot Development - Second-generation single-joint exoskeleton robot has completed testing and is ready for mass production [6] - Ongoing development of multi-joint exoskeleton assistive robots, with the first prototype under development [6] - The subsidiary Zhejiang Xianli Intelligent Technology Co., Ltd. is responsible for the operation and commercialization of exoskeleton robots [6] Employee Stock Ownership Plan - Launched the first employee stock ownership plan in 2024, with performance targets set for 2024-2026 [7][8] - Targets include a net profit of no less than 184 million yuan for 2024 and a cumulative net profit of no less than 414 million yuan for 2024 and 2025 [8] - Aims to motivate employees and achieve a win-win situation for both the company and its employees [8]