Group 1: Business Overview - The company focuses on "technology innovation services + strategic emerging industries" as its development model, emphasizing project investment and industrial application [2] - Main business areas include new materials, new energy, and digital economy, with a strategy of mergers and acquisitions to enhance high-tech subsidiaries [2] Group 2: Financial Performance - As of the end of September, the company's inventory was valued at 4.5 billion, primarily consisting of park real estate [3] - The company's asset-liability ratio at the end of Q3 2025 was 50.01%, indicating a reasonable debt structure [7] Group 3: Investment Strategy - In the first half of the year, the company completed 11 investment projects, focusing on sectors such as new energy, new materials, and advanced manufacturing [4] - The company employs a dual strategy of "incubation + acquisition" to nurture early-stage projects while seeking to acquire mature ones [5] Group 4: Market Engagement and Shareholder Relations - The company emphasizes long-term value and has increased dividend ratios and shareholder engagement to boost investor confidence [6] - The company maintains close interactions with several universities and research institutions to enhance project sourcing [8]

Group 1: Semiconductor Storage Business - The semiconductor storage business contributed revenue of 794 million CNY in the first three quarters of 2025, a significant increase of 28.68% year-on-year, accounting for 90.33% of the company's total revenue [3] - The company is focusing on optimizing product structure and implementing refined inventory management to mitigate risks associated with price fluctuations in the storage industry [4] - The company is actively pursuing LPDDR5 certification and trial production to enhance its high-performance storage chip product offerings [9] Group 2: New Energy Business - The company has completed exploration and is in the process of obtaining mining rights for its lithium project in Hunan, with a mineral resource reserve of 20.9533 million tons of associated lithium-bearing feldspar [7] - The lithium mineral (Li2O) quantity is 32,370 tons with an average grade of 0.154%, which is crucial for supplying the company's lithium carbonate project [7] - The company is advancing its lithium battery project and aims to secure mining permits as soon as possible, with progress dependent on government approvals [6] Group 3: Future Planning and Performance - The company aims to enhance its market value and shareholder returns by focusing on dual business lines: "semiconductor storage + smart terminals" and "new energy + automotive" [8] - The company plans to increase overseas promotion of its automotive products and strengthen operational management and talent efficiency [9] - Investors are encouraged to monitor the company's regular reports for updates on performance and growth [8]

Sales Performance - In the first three quarters of 2025, the company achieved external sales capacity of 18,449.70 MW, a year-on-year increase of 90.01% [2] - Sales capacity breakdown: - Units below 4 MW: 22.50 MW (0.12%) - Units between 4 MW and 6 MW: 2,550.05 MW (13.82%) - Units above 6 MW: 15,877.15 MW (86.06%) [2] Order Status - As of September 30, 2025, the total external pending orders amounted to 38,861.14 MW, with the following breakdown: - Units below 4 MW: 605.12 MW - Units between 4 MW and 6 MW: 6,596.23 MW - Units above 6 MW: 31,659.79 MW [3] - The company has an additional 11,012.73 MW in external bids not yet signed, including: - Units between 4 MW and 6 MW: 1,119.80 MW - Units above 6 MW: 9,892.93 MW [3] - Total external orders on hand: 49,873.87 MW, with overseas orders accounting for 7,161.72 MW; internal orders total 2,586.97 MW. Overall, total orders on hand reached 52,460.84 MW, reflecting a year-on-year growth of 18.48% [3] Wind Farm Operations - As of September 30, 2025, the total equity installed capacity of the company's self-operated wind farms reached 8,688 MW, with 4,062 MW under construction domestically [4] - In the first three quarters of 2025, the company added 745 MW of new equity grid-connected capacity and sold wind farm capacity of 100 MW [4] - The average utilization hours for self-operated wind farms in the first three quarters of 2025 were 1,730 hours [4] Risk Management - The company incorporates extreme weather risks into product design and planning, using advanced simulation models to enhance the stability and load resistance of key components [4] - A meteorological forecasting and warning information system is in place to monitor and provide risk alerts for wind farms [4] - Emergency response plans have been established for various extreme weather scenarios, including typhoons and floods, to ensure safety and minimize losses [4]

Growth Points - The company aims to enhance its core business, focusing on design brand development, with projected design revenue of 721 million CNY in 2024, accounting for 60.71% of total revenue, and 424 million CNY in the first half of 2025, increasing to 67.00% of total revenue [1][2] - The soft decoration business is expected to generate 261 million CNY in 2024, showing a year-on-year growth of 16.23%, and 142 million CNY in the first half of 2025, with a significant growth of 43.75% [2] - The company plans to target the high-end private art center market, focusing on personalized services for luxury residential projects, with existing cases in Shanghai and Guangzhou [2] Strategic Development - The company will continue to strengthen design brand building, expand design scale, and enhance market coverage [3] - There will be an emphasis on market expansion to attract diverse clients across various industries, including new energy, technology, finance, and consumer sectors [2][3] - The company intends to enhance research and technology application to improve management efficiency through digitalization [3] Future Plans - The company is committed to developing overseas markets and expanding its international presence [3] - There are no current transformation plans disclosed, but any future plans will be announced in accordance with regulations [4] - Shareholder information will be disclosed in regular reports, ensuring fair access to information for investors [4]

营水平和盈利能力，以良好稳定的业绩回报公司股东。感谢 您的关注，敬请投资者注意投资风险。 2、近期市场对公司估值偏低，请问管理层认为目前公 司最容易被市场误解的点是什么？ 您好，公司重视保护广大投资者的利益，与投资者保持 良好沟通，努力做好企业经营。公司股价波动受宏观环境、 大盘走势、市场情绪等多种因素影响，公司秉持高质量发展 理念，努力以优异的业绩回报股东和社会，我们相信公司的 长期价值会得到投资者的认可。未来公司将继续努力做好经 营和管理，并将持续深耕主营业务，全面推进业务出海战略， 加快全球化布局，为客户提供有竞争力的支付产品和服务解 决方案，力争以良好的经营业绩回报广大投资者，感谢您的 关注，敬请投资者注意投资风险。 证券代码： 300130 证券简称：新国都 深圳市新国都股份有限公司 投资者关系活动记录表 编号：2025-002 | 投资者关系 | □特定对象调研 □分析师会议 | | --- | --- | | 活动类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | √其他 参加"2025 年度深圳辖区上市公司投资者网上集体 | | | 接 ...

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 | □ | 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 ■ | | 参与单位名称 | 线上参加本次"2025 年度深圳辖区上市公司投资者网上集体接 | | 及人员姓名 | 待日活动" 的投资者 | | 时间 2025 | 年 11 月 20 日（星期四）下午 14:30-17:00 | | 地点 | "全景路演"网站 （https://rs.p5w.net） | | | 董事长兼总经理：曾浩先生 | | 上市公司接待 | 独立董事：李天明先生、刘勇先生 | | 人员姓名 | 副总经理兼董事会秘书：谢海波先生 | | | 财务总监：谢艳女士 | | | 为进一步加强与投资者的互动交流工作，深圳雷柏科技股份有 限公司参加由深圳证监局和中证中小投资者服务中心指导、深 圳上市公司协会与深圳市全景网络有限公司联合举办的"2025 | | | 年度深圳辖区上市公司投资者网上集体接待日活 ...

Group 1: Product and Market Strategy - The company aims to improve product gross margin by optimizing product structure and increasing the sales proportion of high-margin products [2] - Downstream customer composition includes: Home appliances (22%), Beer (15%), Dairy (14%), Food (11%), Daily chemicals (4%), E-commerce logistics (4%), Others (30%) [3] - The company focuses on Southeast Asia for overseas business, with capacity expansion planned in Thailand, Vietnam, and Indonesia [3] Group 2: Competitive Advantages and Innovations - The company leverages clear capacity demands from clients to avoid blind expansion, providing group services that meet global collaboration needs [4] - Domestic smart factory operational experience can be replicated quickly, enhancing efficiency and cost control compared to local competitors [4] - The company is committed to sustainable development by innovating eco-friendly materials and accelerating smart manufacturing processes [8] Group 3: Financial Performance and Shareholder Returns - The company has a strong focus on shareholder returns, with future dividend plans considering operational performance, financial status, and capital expenditure needs [5][6] - The impact of rising raw material prices is managed through timely adjustments in procurement and production strategies to mitigate cost fluctuations [7] Group 4: Future Goals and Industry Trends - The company aims to align with industry trends towards green, intelligent, and intensive development, while expanding overseas markets and enhancing internal operations [8][10] - Future goals include stabilizing domestic operations and achieving rapid growth in overseas business, guided by market demand and strategic planning [10]

Business Overview - The company is a leading provider of precision temperature control and energy-saving solutions, focusing on various sectors including cloud computing data centers, power grid, and electric vehicle charging stations [2] - It has maintained a record of revenue and profit growth for 14 consecutive years [2] Market Expansion - The overseas demand for liquid cooling solutions has exploded, providing a significant opportunity for the company [3] - The company has made progress in international markets, showcasing products at global events and forming partnerships with major clients [3] Revenue Structure - The company aims to balance domestic and overseas revenue, which will enhance profitability and cash flow [4] - Recent years have shown fluctuations in global revenue structure, impacting various operational metrics [4] Order Visibility - The visibility of orders varies across different business segments, with some clients purchasing on a project basis while others use annual bidding processes [5] Competitive Advantages - The company possesses strong technical expertise in equipment cooling and environmental control, with a unique product matrix and service delivery capabilities [6][7] Research and Development - The company has invested approximately 297 million CNY in R&D in the first three quarters of 2025, a 31.36% increase year-on-year [9] Management Team - The management team has extensive experience from major corporations, ensuring a well-structured knowledge base across all business functions [10] Energy Storage Business - The company has 15 years of experience in energy storage temperature control, with a revenue of approximately 800 million CNY from energy storage applications in the first half of 2025, reflecting a 35% year-on-year growth [11] Overseas Capacity Layout - The company is establishing supply chains in Southeast Asia and North America to enhance its overseas market presence [12] Electronic Cooling Business - The electronic cooling segment, including liquid cooling plates and cooling modules, is expected to become a significant revenue contributor, potentially the third-largest business area after data centers and energy storage [13] Company Vision - The company aims to become a world-class enterprise in precision environmental control, focusing on customer needs and rapid delivery of quality products [14] M&A Plans - Any potential mergers and acquisitions will be disclosed in accordance with relevant regulations, ensuring transparency and compliance [15]

Group 1: Infrastructure and Network Expansion - Yantian Port has established a solid foundation in "sea-rail intermodal" and "inland port" network construction, with a continuous positive growth in sea-rail intermodal volume for six consecutive years [2][3] - The port has added 9 inland ports this year, expanding its service network to South China, Central China, and Southwest regions, effectively achieving "ports at your doorstep" [2][3] - Currently, Yantian Port has built a network of "26 inland ports + 34 sea-rail intermodal lines" and a regional linkage system of "15 Greater Bay Area combination ports + 17 barge feeder lines" [3] Group 2: Revenue and Investment Strategies - The company has gained stable income through investments in terminals and highways, and is exploring mergers, strategic partnerships, or new project investments to expand revenue sources [3] - Yantian Port aims to deepen its layout in three core groups: East Guangdong, West Shenzhen, and the Yangtze River Economic Belt, focusing on container, coal, iron ore, and new energy vehicles [3] - The company is actively seeking overseas quality port projects to enhance its project reserve and promote a networked port layout [3] Group 3: Fund and Corporate Structure - The Shenzhen Port Hongsheng Marine Technology Investment Fund is currently in the preparatory stage and requires registration with the Asset Management Association of China before implementation [4] - There are no current plans to change the trading name on the Shenzhen Stock Exchange, despite the parent company being renamed [4][5] - The East Port area is expected to transfer its equity or assets to Yantian Port or a third party within 36 months of obtaining port operation permits, as per commitments made by the controlling shareholder [5] Group 4: Investor Relations and Transparency - The investor relations activity did not involve any undisclosed significant information [5] - The company is committed to maintaining transparency and will fulfill information disclosure obligations in accordance with relevant regulations [4]

Group 1: Investor Relations Activities - The company participated in the "2025 Annual Shenzhen Listed Companies Investor Online Reception Day" on November 20, 2025 [1] - The event was held on the "Investor Relations Interactive Platform" [1] Group 2: Dividend Policy - The company aims to maintain a high dividend payout ratio, emphasizing long-term value creation and sustainable development for shareholders [2] Group 3: Production Capacity - Current production capacity utilization is operating efficiently across major product lines, with plans to further enhance capacity and operational efficiency [2] Group 4: Market Position and Competitive Advantage - The company holds a leading position in the domestic microelectronic welding materials sector, particularly in solder paste and flux, supported by advanced technology and stable product quality [2] Group 5: Supply Chain Management - The company does not rely on a single supplier for key raw materials like tin and silver, with no single supplier accounting for more than 50% of purchases from the top five suppliers in 2024 [2] - A multi-layered response mechanism is in place to manage raw material price fluctuations, including long-term partnerships with major tin mining companies and a product pricing mechanism linked to raw material costs [2] Group 6: Shareholder Actions - The controlling shareholder's planned reduction of holdings is the first since the company's listing, driven by personal financial needs, with no intention to affect stock prices [3]