| 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 （ ） | | 参与单位名称及 | 东吴证券 苏铖、郭晓东;国华兴益 韩冬伟;中金公司 宗旭豪;国 | | 人员姓名 | 盛证券 陈熠;招商证券 陈书慧、刘成;国泰海通证券 苗欣；个 | | | 人投资者 郭镇林。 | | 时间 | 2025 年 9 月 9 日 | | 地点 | 公司会议室 | | 形式 | 现场会议 | | 上市公司接待人 | 董事会秘书李宽宽，证券事务代表陈劭。 | | 员姓名 | | | | 主要内容如下： | | | 1、公司 2025 年上半年经营概况介绍 | | | 2025 年上半年，公司高质量发展步伐更加稳健，实现啤酒销 | | | 量 73.41 万吨，同比增长 5.10%；实现营业收入 31.98 亿元，同 | | | 比增长 7.09%；归属于上市公司股东的净利润 6.12 亿元，同比增 | | | 长 22.51%。（具体详见公司 2025 年半年度报告相关内容 ...

Group 1: Impact of Customs Issues - The company has taken various measures to mitigate the impact of customs sourcing issues on product exports, although some effects remain [3] - The company's LVT, SPC, and WPC products, which are specific subcategories of PVC flooring, are similarly affected by these customs issues [3] Group 2: Future Order Expectations - The company expects overall future orders to remain stable and will actively seek new customers while maintaining existing ones [4] - Domestic factories primarily serve European and domestic clients, while foreign factories cater to the U.S. and some European clients [4] Group 3: Customer Sales Structure - As of 2024, exports to Europe and other non-U.S. regions have surpassed those to the U.S., although the U.S. still holds a significant share [5] - The company’s top five customers account for nearly 40% of sales, indicating a diverse customer base with no severe dependency on any single client [6][7] Group 4: Brand and Market Strategy - The company primarily operates on an ODM basis, with a low proportion of self-owned brands; however, it plans to invest significantly in building its own brand sales channels overseas [7] - To address external uncertainties, the company aims to increase its domestic market share while leveraging multiple overseas production bases to mitigate risks [8] Group 5: Dividend and Shareholder Plans - The company intends to maintain consistent cash dividends and has introduced a mid-term dividend plan in response to regulatory calls [9] - A share repurchase plan is set for March 2025, with an estimated buyback amount between 25 million to 50 million yuan, aimed at employee stock ownership and incentive plans [10]

证券代码：301469 证券简称：恒达新材 | | □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 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 □电话会议 | | | （请文字说明其他活动内容） □其他： | | 参与单位名称 | | | 及人员姓名 | 线上参与恒达新材2025年半年度网上业绩说明会的投资者 | | 时间 | 2025 年 09 月 09 日（星期二）下午 15:00-16:00 | | 地点 | "约调研"微信小程序 | | | 董事长 潘昌 | | 公司接待人员 | 副董事长、总经理 姜文龙 | | | 独立董事 李元平 | | | 财务总监 叶民 | | 姓名 | 董事会秘书、总经理助理 郑洲娟 | | | 保荐代表人 鄢让 | | | 业绩说明会问答环节主要内容如下： | | | 1、问：医疗及食品包装原纸收入增长 21.56%成为核心驱动 | | | 力，请问该业务毛利率是否高于公司平均水平？未来是否会进 | | | 一步提高其产能占比？ | | 投资者关系活动 | 答：公司医疗及食品包装原纸是 ...

证券代码：000878 证券简称：云南铜业 云南铜业股份有限公司投资者关系活动记录表 编号：2025-14 | | 特定对象调研 □分析师会议 ☑ | | --- | --- | | 投资者关 | □媒体采访 □业绩说明会 | | 系活动类 | □新闻发布会 路演活动 ☑ | | 别 | | | | □现场调研 其他（华创证券 2025 年秋季策略会） ☑ | | | 华创证券 年秋季策略会：华创证券 刘岗、杜臻，合煦智远基金 朱凯， 1. 2025 | | 活动参与 | 农银人寿保险 赵晶，兴合基金 孙祺，深圳量度资本 罗涛，建信理财 唐文成， | | 人员 | 东方证券 刘中群。 | | | 大成基金管理有限公司 张家旺 2. | | | 2025 年 9 月 9 日 13:00—14:00 | | 时间 | 2025 年 9 月 9 日 14:30—16:00 | | | 策略会举办地（北京） 1. | | 地点 | 2. 公司 3307 会议室 | | 形式 | 座谈交流 | | 上市公司 | 财务总监、董事会秘书：高洪波 | | 参加人员 | 证券事务代表：孙萍 | | 姓名 | | | | 一、公 ...

Group 1: Company Performance - In the first half of 2025, the company achieved operating revenue of 3.89 billion yuan, an increase of 12.79% compared to the same period last year [2][3] - Main business revenue reached 2.86 billion yuan, up 7.88% year-on-year [2][3] - Net profit attributable to shareholders decreased by 470.26 million yuan, a decline of 55.40% compared to the previous year [2][3] Group 2: Product and Market Focus - The company specializes in the research, design, production, and sales of small power motors and micro-special motors, particularly focusing on commutators [3][4] - The main products include over 2,000 specifications of commutators, which are widely used in electric tools, automotive motors, household appliance motors, and industrial motors [3][4] - The company is actively investing in the development of hollow cup motor commutators and exploring new applications and markets [4] Group 3: Regional Revenue Insights - Domestic revenue accounted for 68.18% of total revenue, with the East China region experiencing a 19.76% year-on-year growth [4] - Revenue in East China primarily comes from the company's main products, including automotive motors and various types of commutators [4] Group 4: Intellectual Property and R&D - As of the first half of 2025, the company and its subsidiaries hold a total of 120 effective patents, including 42 invention patents, 70 utility model patents, and 8 design patents [2][3] - The company is committed to enhancing existing product performance and reliability while actively exploring new fields and applications for commutator products [4] Group 5: Investment Properties - The investment properties mainly consist of factory buildings leased out by Jiangsu Shengke, with efforts to improve the utilization rate of idle factory space [5]

证券代码：300316 证券简称：晶盛机电 浙江晶盛机电股份有限公司投资者关系活动记录表 编号：2025-5 | 投资者关系活动 | √特定对象调研 □分析师会议 □媒体采访 □业绩说明会 | | --- | --- | | 类别 | □新闻发布会 □路演活动 □现场参观 □电话会议 □其他 | | 参与单位名称及 | 参见附件：参会投资者清单。 | | 人员姓名 | | | 时间 | 2025 年 9 月 8 日 | | 地点 | 杭州 | | 上市公司接待人 | 投资者关系 林婷婷 | | 员姓名 | | | | 1、请问公司碳化硅衬底材料的进展？ | | | 答：公司碳化硅衬底材料业务已实现 6-8 英寸碳化硅衬底规模 | | | 化量产与销售，量产的碳化硅衬底核心参数指标达到行业一流水平， | | | 并实现 12 英寸导电型碳化硅单晶生长技术突破，成功长出 12 英寸 | | | 碳化硅晶体。受益于晶体生长及加工设备的高度自给，能够实现设 | | | 备和工艺的高度融合，促进协同创新，使公司在技术工艺调整、产 | | | 能投放以及成本控制方面取得竞争优势，并能够根据碳化硅材料下 | | 投资者关系 ...

Company Overview - Zhuhai Rundu Pharmaceutical Co., Ltd. was established in 1999 and listed on the Shenzhen Stock Exchange in January 2018 [2] - The company focuses on the research, production, and sales of chemical drug formulations, raw materials, and intermediates, covering various therapeutic areas [2] Business Performance - In the first half of 2025, the company's other business segments, including CMO and CDMO, achieved a year-on-year growth of 196.89%, with revenue reaching 6.58 million yuan [3] - The nicotine products from Jingmen Company are classified under raw material manufacturing, with significant sales growth, although it has not yet impacted overall performance [3] Regulatory and Product Development - The company’s innovative drug, the hydrochloride injection of dextromethorphan, had its registration application accepted in March 2024, with ongoing review processes [4] Financial Challenges - The net profit for raw materials and intermediates declined due to a significant drop in raw material prices, despite stable sales revenue [5][6] - The formulation business faced a decrease in net profit due to the impact of national procurement policies and a drop in sales of key products like rabeprazole sodium enteric-coated capsules [6]

Financial Performance - In the first half of 2025, the company achieved a revenue of CNY 442 million, an increase of 5.76% compared to the same period last year [3] - The net profit attributable to shareholders reached CNY 53.95 million, up 14.27% year-on-year [3] - The basic and diluted earnings per share increased by 14.24% compared to the previous year [3] Key Growth Drivers - Revenue growth was driven by a 29.45% increase in revenue from approved generic drugs and successful bidding in centralized procurement [3] - Steady growth in the revenue of five key traditional Chinese medicine products, which increased by 3.52% year-on-year [3] - Cost control measures and a decrease in raw material prices contributed to profit growth [3] Research and Development - R&D investment in the first half of 2025 was CNY 40.50 million, a year-on-year increase of 29.33%, accounting for 9.17% of revenue [7] - The company has 7 innovative drug projects in the pipeline, targeting various cancers and autoimmune diseases [8] - A total of 8 new compound patents were applied for in the first half of 2025, with 3 granted [8] Product Development and Market Strategy - The company has four self-developed special medical foods, with the first product receiving regulatory approval [9] - The sales strategy remains stable, focusing on public hospitals, which account for approximately 70% of sales [12][13] - The company is expanding its market presence through digital marketing and e-commerce platforms [9] Shareholder Returns - The company distributed CNY 0.35 per 10 shares to shareholders, totaling CNY 14.62 million [14] - The profit distribution plan was approved and implemented in September 2025 [14] Governance and Internal Control - The company has established a comprehensive internal control system, which has been positively evaluated by external auditors [11][15] - Continuous improvements to governance structures and compliance with legal regulations are prioritized [15]

Group 1: Business Performance and Market Dynamics - The company's revenue in the first half of 2025 saw North America accounting for 54.75% and Europe for 38.95% [1] - The order intake for the 2025-2026 business year is slightly better than originally expected despite the impact of increased tariffs [1] - The second quarter of 2025 experienced a slight revenue decline compared to the previous year, influenced by U.S. tariff policies and customer behavior [8] Group 2: Production Capacity and Global Strategy - Domestic production is concentrated in Taizhou, Ningbo, Henan, and Shandong, while overseas facilities include factories in Vietnam, Thailand, and Indonesia [2] - The company plans to expand its production capacity in Vietnam and is working on establishing a factory in Indonesia, projected to generate an annual output value of around 1 billion RMB upon reaching full capacity [2] - To mitigate uncertainties in U.S.-China relations, U.S. clients may require future orders to be sourced from regions outside of China, accelerating the company's global capacity layout [2] Group 3: Product Development and Market Trends - The company maintains a rapid product update cycle, with new product revenue accounting for approximately 30% of total income each year [3] - The annual SKU count ranges between 3,000 to 4,000, reflecting the company's commitment to adapting to market trends [3] - The outdoor leisure products market in Europe and the U.S. has established stable demand with a gradual increase in market concentration [6] Group 4: Financial Management and Profitability - The decline in dividends over the past two years is attributed to necessary capital expenditures for production layout adjustments, particularly for overseas production bases [4] - The company's gross profit margin experiences significant fluctuations due to seasonal industry characteristics and the timing differences between order negotiations and actual procurement [5] - The profit for the first half of 2025 includes non-recurring gains from land compensation and stock investments, alongside core business profits [7]

Group 1: Company Overview - The company aims to become a leading manufacturer in the material handling equipment sector, actively expanding into new application areas and deepening its multi-field and multi-market strategy [2] - The company has shifted from a focus on the cement industry to include sectors such as steel, chemicals, power, coal, and grain, while also enhancing its global presence [3] Group 2: Overseas Business Development - The company utilizes two main sales models for overseas business: indirect exports through domestic contractors and direct exports [3] - The overseas business has expanded to cover over 80 countries and regions, driven by increasing infrastructure demands in developing countries and the acceleration of domestic cement companies' internationalization [3] Group 3: Investment Projects - The "Annual Production of 3 Million Large-Pitch Conveyor Equipment Chain Intelligent Manufacturing Project" has seen an investment of 233 million CNY as of June 2025, with the first phase achieving small-scale production [4] - The company is transitioning to a "standard product safety inventory" model to enhance market responsiveness and delivery capabilities [4] Group 4: Research and Development - The company is recognized as a national high-tech enterprise with a strong R&D capability, holding a total of 127 valid patents, including 21 invention patents [4] - A comprehensive quality control system is in place, covering all aspects from raw material procurement to after-sales service, ensuring product quality for both domestic and international markets [4] Group 5: Impact of Raw Material Price Fluctuations - Direct materials constitute a significant portion of the company's main business costs, with steel being the primary raw material [5] - The company manages raw material price fluctuations by maintaining safety stock, tracking market supply and price changes, and employing strategies like advance purchasing to control costs [6]