证券代码：301153 证券简称：中科江南 北京中科江南信息技术股份有限公司 投资者关系活动记录表 编号：2025-03 | | 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 | | | □新闻发布会 路演活动 | | 类别 | □现场参观 | | | 其他线上直播 | | 参与单位名称及 | 国金证券李忠宇、东方证券浦俊懿、中金公司童思艺、申万宏 | | 人员姓名 | 源曹峥等 112 人现场参与广州数字科技集团 2025 年投资者集 | | | 体交流会，会议采用线上直播与线下路演结合的形式进行。 | | 时间 2025 | 年 12 月 03 日 | | 地点 | 广电平云广场 | | 上市公司接待人 | 董事长 罗攀峰 | | 员姓名 | 1、公司情况简介 | | | 答：中科江南自 2011 年成立以来，坚持"数字经济基础 | | | 设施建设者"战略定位，将国家的发展和企业自身战略规划紧 | | | 密结合，参与建立了多项国家级核心标准和服务体系，积累了 | | 投资者关系活动 | 丰富的行业经验与资源，坚持高点布局覆盖全国的业 ...

Group 1: Chip Inductor Business Development - The company has developed a significant amount of R&D results focused on high power density, high frequency, and customized chip inductors, which are essential for AI servers, data centers, and intelligent driving applications. The demand from downstream customers is strong [1] - Several new chip inductor products are currently undergoing client testing, with expectations for some to begin mass delivery in Q1 of next year, depending on customer project lifecycles [1] Group 2: TLVR Inductor Certification and Demand - TLVR inductors, designed for low voltage and high current environments, have seen increased demand from major semiconductor manufacturers for power module development. The company has received small batch orders for several TLVR inductor products that have passed customer performance tests [2] Group 3: Magnetic Material Profitability and Trends - The company's magnetic material products maintain a strong gross margin due to technological advantages, cost control, and a focus on high-end clients such as Bosch and Valeo. Future strategies include product structure optimization and customer upgrades to sustain or improve gross margins [3] Group 4: Permanent Magnet Capacity and Global Expansion - The company aims to achieve a permanent magnet ferrite production capacity of 60,000 tons, with plans to add another 10,000 tons and localize raw material supply. The overseas production line established since 2016 has become a significant growth point for the company [4] Group 5: Technical Progress in Ferrite Permanent Magnet Materials - Continuous advancements in R&D, process innovation, and smart manufacturing are driving the company towards high-end value chain upgrades. Ferrite permanent magnet materials are being applied in various sectors, including automotive and green energy, with a focus on new applications in electric vehicles [6]

Group 1: Industry Outlook - The semiconductor industry is expected to continue its recovery trend in 2025, with global semiconductor equipment sales projected to reach $125.5 billion, a growth of 7.4% compared to the previous year. Sales are anticipated to reach $138.1 billion in 2026, driven by AI computing power, automotive, and consumer electronics sectors [2][3]. Group 2: Company Business Structure - The company focuses primarily on semiconductor automation testing systems, which account for approximately 90% of its revenue. The product line includes semiconductor automation testing systems, laser marking equipment, and other mechatronic devices, catering to various process needs in the packaging and testing production lines [3][4]. Group 3: Mergers and Acquisitions - The company is actively monitoring suitable investment opportunities within the industry and may pursue upstream or horizontal mergers and acquisitions when the timing is right [3]. Group 4: Research and Development - The company maintains a high level of R&D investment, with R&D expenditures accounting for over 33% of revenue from January to September 2025. Key R&D focuses include high-end semiconductor testing equipment (such as SOC testing), full-process solutions, and domestic alternatives to capture market opportunities in AI computing power, advanced packaging, and automotive-grade chips [3][4]. Group 5: International Expansion - The company has established wholly-owned subsidiaries in Hong Kong and Malaysia to enhance overseas market development and provide localized services to international clients [3]. Group 6: Production Expansion Projects - The "expansion construction project" involves products across the entire range of semiconductor testing equipment, laser marking equipment, and other mechatronic products [4].

Group 1: Production Capacity and Operations - The company's isooctanol production capacity is currently operating at full load [2] - The design capacity for propylene is approximately 480,000 tons per year [2] - The company has completed full payment of the consumption tax and expects minimal impact on future performance [2] Group 2: Strategic Acquisitions and Market Position - The acquisition of DIC patents by the subsidiary Chengzhi Yonghua enhances the company's patent layout in the liquid crystal business, strengthening its industry position [2] - The company holds a leading market share in the mixed liquid crystal sector domestically [2] Group 3: IPO and Development Initiatives - Chengzhi Yonghua is actively preparing for its IPO, focusing on legal, business, and financial compliance while maintaining communication with regulatory bodies [3] - The company is advancing its synthetic biology projects in collaboration with a research team, expanding its capabilities in the biomanufacturing sector [3] Group 4: Shareholder Structure and Future Plans - The recent transfer of 100% equity of Qingdao Haikong Investment Holdings by the indirect controlling shareholder will not affect the company's control structure or operations [3] - There are currently no plans for major shareholder increases or employee stock ownership plans, but the company will disclose any significant developments as required [3]

Group 1: Company Overview - The company, Yinchuan Weili Transmission Technology Co., Ltd., is focused on the wind power gearbox sector, with its core production capacity located in Yinchuan [2][3]. - The wind power gearbox smart factory is expected to achieve an annual production capacity of 2,000 units in its first phase and 4,000 units upon completion of the second phase [2][3]. Group 2: Share Buyback Plan - As of November 30, 2025, the company has repurchased a total of 876,500 shares, accounting for 1.2109% of the total share capital, with a total transaction amount of RMB 44,206,663.00 (excluding transaction fees) [2][3]. Group 3: Production Capacity and Profitability - The smart factory is currently in the critical construction phase, with core production equipment nearly deployed, but full capacity release is still in the initial ramp-up stage due to several factors [3]. - The gross margin for the wind power gearbox business is expected to significantly increase post-production, driven by higher product value and cost reductions from economies of scale [3]. Group 4: Equity Incentive Plan - The company plans to grant a total of 720,800 restricted shares in 2025, representing approximately 0.9958% of the total share capital, with a grant price of RMB 31.90 per share [3].

Group 1: Share Buyback Situation - As of November 30, 2025, the company has repurchased 8,254,900 shares, accounting for 1.39% of the total share capital [2] - The highest transaction price for the repurchase was 11.2 RMB/share, while the lowest was 10.49 RMB/share [2] - The total amount spent on the repurchase was 88,980,647.86 RMB (excluding transaction fees) [2] Group 2: Future Development in Overseas Markets - The company views international expansion as a critical strategy, benefiting from China's growing influence and manufacturing strengths [2][3] - The global market is experiencing a sustained increase in demand, prompting the company to expand its sales network based on previously successful markets [3] - Different regions have distinct demands, with Europe focusing on renewable energy bus upgrades and Africa seeing new demand for regular buses due to economic development [3] Group 3: Internal Management Improvements - Recent performance growth is attributed to significant enhancements in internal management, focusing on three main areas: marketing capability, operational control, and after-sales service efficiency [3] - The company emphasizes quality in operations and has implemented cost control measures in production and management expenses [3] - After-sales service efficiency has improved through detailed network layout and meticulous attention to each operational aspect [3] Group 4: Equity Incentive Implementation - The company has not yet implemented an equity incentive plan but will announce any specific proposals in a timely manner [3]

证券代码：002577 证券简称：雷柏科技 深圳雷柏科技股份有限公司投资者关系活动记录表 编号：2025-006 | | 投资者调研 分析师会议 ■ □ | | --- | --- | | 投资者关系活 | 媒体采访 业绩说明会 □ □ | | 动类别 | □ 新闻发布会 □ 路演活动 | | | 现场参观 其他 □ □ 优美利投资 雷志强 | | | 翰烜资管 田野、谭文琪 上柿行（上海）咨询管理公司 张玮 | | 参与单位名称 | | | | 瑞联私募 郑智键 | | 及人员姓名 | 可乐兄弟投资 曹铭 | | | 润义投资 陆懿晨 | | | 上海九益私募基金 徐标标 | | 时间 | 年 月 日（星期三） 2025 12 3 | | 地点 | 深圳雷柏科技股份有限公司会议室 | | | 公司副总经理、董事会秘书 谢海波 | | 上市公司接待 | 证券事务代表 张媛媛 | | 人员姓名 | 证券事务高级专员 张文静 | | | 一、公司情况概述 雷柏科技成立于 2002 年，成立之初，主营 ODM 业务， | | | 2007 年成立自主品牌"RAPOO",主推无线外设产品，以 2.4G | | 投资者 ...

Group 1: Product Performance - The company's main products are currently in a high-efficiency and orderly production and sales state [2] - Production capacity utilization remains at a good level due to scientific capacity planning and supply chain coordination [2] - Market demand for main products is strong, with smooth sales channels and timely order fulfillment [2] - The company will continue to monitor market changes and dynamically optimize business strategies to enhance market competitiveness and share [2] Group 2: Financial Performance - In the first three quarters, the company achieved a revenue growth of 12.13% compared to the same period last year [3] - Production and operational activities are proceeding as planned and in an orderly manner [3] - The management and all employees are focused on achieving performance targets set by the equity incentive plan to deliver good results for investors [3] - Final performance results for the year will be disclosed in the company's periodic reports [3]

Group 1: Production Capacity and Utilization - The company has established a lithium iron phosphate production capacity of 225,000 tons, with an additional 75,000 tons under construction [2] - The effective capacity utilization rate has remained high since Q4 2025, benefiting from sustained growth in downstream demand [2] Group 2: Pricing and Market Strategy - The company is monitoring industry trends and customer feedback to potentially adjust prices for cathode materials [3] - A recent seminar by the China Chemical and Physical Power Industry Association emphasized innovation and quality competition, which the company aims to leverage for long-term competitive advantage [3] Group 3: Customer Collaboration and Relationships - The company is enhancing long-term partnerships with core customers through joint R&D and product innovation [3] - Efforts are being made to optimize the customer structure by collaborating with leading enterprises in the industry [3] Group 4: Future Performance Outlook - The global market for power and energy storage batteries is showing clear growth trends, presenting opportunities for the lithium battery cathode materials sector [3] - The company plans to focus on improving operational efficiency and profitability through cost reduction and management enhancements [3] Group 5: Financing Plans - The company will consider its funding needs and market dynamics to conduct diversified financing activities as necessary [3]

Group 1: Market Strategy - The company recognizes a shift from incremental growth to stock competition in the kitchen appliance industry, emphasizing the importance of channel quality and service capabilities [2][3] - Offline strategies focus on enhancing in-store experiences and services, while online efforts leverage traditional e-commerce and emerging content platforms to reach and educate users [2][3] Group 2: Core Product Development - The company aims to deepen its focus on smoke and stove products, which are the largest and most profitable categories, by enhancing product performance and structure [4] - Continuous supply chain integration is planned to optimize cost structures while maintaining quality [4] Group 3: Emerging Product Categories - Dishwashers are viewed as a potential core growth category, with a long cultivation period expected; the company is developing the "Guangyan Dishwasher" series to improve user adoption [5] - The company plans to increase the pairing rate of gas water heaters with smoke machines to drive significant growth in the water heater segment [5] Group 4: AI and Digital Integration - AI and digitalization are seen as new tools for enhancing service, with plans to develop intelligent cooking assistants based on user data [6][7] - The company aims to improve digital integration across products like smoke machines and dishwashers, enhancing user experience in installation, usage, and maintenance [7] Group 5: International Business Development - The company is steadily advancing its overseas business, focusing on the North American market and gradually entering mainstream product lines [8] - In Southeast Asia, the company is establishing a presence in Malaysia and Indonesia, aiming to develop products that align with local consumer capabilities [8] Group 6: Future Growth and Shareholder Returns - Future growth will focus on deepening the core kitchen appliance business while exploring related ecosystems, with a balanced approach to investment and shareholder returns [9] - The company adheres to a "development first, balanced returns" principle, ensuring robust shareholder dividends while pursuing long-term growth opportunities [9]