证券代码：002051 证券简称：中工国际 中工国际工程股份有限公司投资者关系活动记录表 问题 3：展望"十五五"，公司未来的发展方向与目标是否会有变化？ — 1 — 编号：2026-001 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（电话会议交流） 参与单位名称 长江证券股份有限公司、鹏华基金管理有限公司、兴业基金管 理有限公司、天弘基金管理有限公司、国联基金管理有限公 司、中加基金管理有限公司、广东正圆私募基金管理有限公 司、建信理财有限责任公司、泰康养老保险股份有限公司 时间 2026 年 2 月 4 日 地点 电话交流会议 上市公司接待人员 姓名 财务总监康志锋、董事会秘书芮红、财务部副总经理徐曼、证券 事务代表周辉 投资者关系活动主 要内容介绍 公司和投资者就经营情况等进行了交流。 本次投资者活动没有发生未公开重大信息泄密的情况。 附件清单（如有） 投资者关系活动记录 日期 2026 年 2 月 5 日 附件： 中工国际工程股份有限公司投资者关系活动记录 2026 年 2 月 4 日 问题 1：公司 2 ...

Group 1: Product Performance - The overall situation of aramid fiber has been average over the past two years due to low demand growth and increased production capacity, leading to declining prices [2] - The production capacity of aramid fiber is approximately 32,000 tons, with sales around 19,000 tons in 2024 [3] - The export ratio of aramid fiber is about 20%, with fluctuations in growth rates compared to domestic sales [3] Group 2: Production Capacity and Costs - The current production capacity of spandex is 100,000 tons, with 15,000 tons in Yantai and 85,000 tons in Ningxia [3] - The cost in Ningxia is slightly lower than in Yantai, and the company is not operating at full capacity due to the need for suitable customers [4] - Inventory levels are currently at one to two months, which is considered low compared to previous years [4] Group 3: Technological Developments - The company is focusing on systematic improvements in engineering technology to enhance product quality and efficiency by the end of the year [2] - Digital printing technology is being explored to address traditional dyeing challenges, with potential cost reductions [5][6] - New product lines, including T2T and POD films, are being developed, with market potential estimated in the billions [7][8] Group 4: Market Strategy and Customer Engagement - The company is shifting from a production-oriented approach to a market-oriented strategy, focusing on customer needs and providing tailored solutions [8] - There are ongoing efforts to develop fire safety solutions for high-rise buildings and electric vehicle safety, which may receive policy support [8]

Company Overview - Taihe New Materials Group Co., Ltd. was established in 1987, originally producing spandex and is now a leader in various materials including aramid fibers and aramid paper [2][3] - The company has transitioned from spandex to aramid fibers, with key products including meta-aramid (second globally), para-aramid (third globally), and aramid paper (first domestically) [2][3] Production Capacity and Operations - Current spandex operating rate is estimated at 70-80% [3] - The company has a production capacity of 10,000 tons for spandex, which is not fully utilized due to industry challenges and internal issues [5] - The company is undergoing technical upgrades to improve efficiency and profitability [5][6] Market Trends and Demand - Spandex demand is projected to grow over 10% in 2024 and between 5-10% in 2025 [5] - The industry is experiencing a shift with increased use of nylon in clothing, impacting spandex demand [7] - The average spandex content in clothing is around 5% for polyester and approximately 10% for nylon [7] Product Development and Innovation - The company is developing T2T (Textile-to-Textile) recycling technology to meet European demands for sustainable materials [4] - Innovations in green dyeing technology are being explored to reduce environmental impact [4] - The company is also focusing on digital printing as a faster and more efficient alternative to traditional dyeing methods [4] Financial Considerations - The company is investing in technical upgrades with a favorable cost-benefit ratio [6] - The capital expenditure for 2026 includes project final payments and a new innovation center [6] Competitive Landscape - The aramid fiber market is competitive, with many players in the para-aramid segment, which is less than 20% of global capacity [6][8] - The company differentiates itself through self-developed technology and early market entry, leading to stable downstream applications [6][8] Future Outlook - The company aims to enhance its production capabilities and explore new markets, including composite materials, to leverage growth opportunities [8] - The focus on high-performance materials like aramid fibers and carbon fibers is expected to drive future growth [8]

Group 1: Company Overview and Strategic Planning - The company introduced its basic situation and future strategic planning during the site visit [2] - The company plans to promote existing aviation products to low-altitude economy-related enterprises and has signed contracts with several eVTOL manufacturers [3] Group 2: Financial Performance and Projections - The company expects a decline in gross margin in 2025 due to changes in product structure, but aims for recovery and stability in 2026 through cost control [3] - The company’s operating cash flow is currently secure, with good receivables from civil aviation business, and is expected to improve in 2026 with the settlement of key defense projects and support from national policies [3] Group 3: Market Expansion and International Plans - The company has applied for ETSOA certification with EASA and plans to start Airbus supplier training, indicating intentions to enter international markets [3] - The company is also planning to support related export products in the defense trade sector [3] Group 4: Risk Management - The company advises investors to make rational decisions and be aware of investment risks, particularly regarding industry forecasts and strategic planning [4]

江苏泽润新能科技股份有限公司 投资者关系活动记录表 编号：2026-001 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 （请文字说明其他活动内容） 参与单位名称及 人员姓名 浙商证券 陈明雨 华泰资管 王笑 平安资管 马继愈 银华基金 范文韬 博时基金 叶丽、田俊维 德邦基金 申屠旺 万家基金 王立晟 永赢基金 普淞锐 博道基金 郭晓萱 摩根基金 许凡 申万菱信 王瀚 华泰柏瑞 刘腾飞 格传基金 杨扬 柏乔资产 马波 时间 2026年2月3日、4日 地点 公司会议室、线上电话会议、机构反路演等 上市公司接待人 员姓名 董事、董事会秘书、财务总监 王亮先生 投资者关系活动主 要内容介绍 1.2025年业绩预告情况？ 2025年公司预计实现归属于上市公司净利润为4000-5500万元 ，同比下降58.12%-69.54%。 2025年，公司营业收入总体保持稳定。然而，受全球光伏行业 周期性调整影响，阶段性供需错配导致公司光伏产品市场竞争加剧 ，尽管行业启动反内卷举措，但供需失衡的局面尚未根本改善，公 司内销毛利率持续下滑。与此同时，由 ...

Group 1: Product Applications and Development - The company's products are primarily used in sportswear fabrics, automotive interior products, electronic packaging, and cleanroom consumables. The focus remains on enhancing the technology and production processes of ultra-fine fiber materials while expanding downstream applications and product scenarios [2]. - Future development will emphasize new energy and new materials, with a commitment to innovation-driven growth and the introduction of high-performance, multifunctional, and environmentally friendly products [2]. Group 2: Sales and Market Strategy - The company maintains a long-term stable supply relationship with Decathlon, which remains a significant sales contributor. The expectation is to sustain a positive sales collaboration while actively seeking new customers [2]. - The rapid growth in revenue and gross profit from the cleanroom cloth segment indicates a strong market demand, with potential for further increases in gross margin [3]. Group 3: Production Capacity and Expansion - The cleanroom cloth market is experiencing fast growth, prompting the company to consider production expansion. The Anhui production base has reserved land for future development, and the company is prepared for expansion if market demand increases [3]. - The company has developed transitional solutions for short-term market demands and is ready for production scaling [3]. Group 4: Financial Strategy and M&A - Since its IPO, the company has gained experience in capital operations and has a solid financial position, enabling proactive participation in industrial capital operations. Future plans include engaging in mergers and acquisitions to broaden the business chain in high-performance and new materials [3]. Group 5: R&D and Market Investment - The company plans to increase R&D investments and enhance market efforts, including strengthening the sales team and establishing a more comprehensive sales management system to boost sales capabilities [3].

Group 1: Company Development and Strategy - The company has made significant progress in governance and management, completing a leadership transition by the end of 2024, resulting in a stronger and more cohesive team [2] - The "Two Seas" strategy has become clearer and more resolute, with ongoing efforts in corporate culture development and resolution of historical issues, leading to improved asset quality and financial status [2] - The company is focused on standardizing and refining management practices to enhance cost efficiency and profitability [2] Group 2: Market Performance and Production - In 2025, the company achieved a total of approximately 1.2 million tons in new orders and delivered around 600,000 tons [3] - The manufacturing sector is actively adjusting market strategies and product structures, with key upgrades and expansions in projects like Jiangsu TianNeng [3] - The company has successfully exported its first batch of oil and gas pipe piles from its Jiangsu factory, marking a milestone in overseas market expansion [3] Group 3: Future Outlook - The company aims to prioritize overseas offshore wind power as a strategic focus for 2026, concentrating resources on securing large international contracts and increasing the proportion of high-margin business [3] - The production capabilities of the three offshore bases include tower flange outer diameters of up to 15 meters, catering to various offshore wind power project specifications [3]

Group 1: Financial Performance - The company's net profit for 2025 is expected to be between 130 million and 160 million CNY, representing a year-on-year growth of 74.07% to 114.24% [2] Group 2: Product Development and Innovation - Double River Energy has established advantages in the natural ester insulating oil sector, which is characterized by high flash and fire points, biodegradability, low toxicity, strong overload capacity, and safety [2] - Natural ester insulating oil has been successfully applied in significant projects, including the world's first 110kV natural ester transformer and a 180 MW offshore photovoltaic project by the Three Gorges Group [2] - In 2024, Double River Energy will increase R&D investment and participate in a national key technology project for plant-based insulating oil for ultra-high voltage transformers [2] - The company has successfully entered the commercial aerospace sector, introducing materials, cabinets, connectors, and electromechanical products into the aerospace industry [3] - In collaboration with China Three Gorges Construction Group and China Electric Power Research Institute, the company has developed innovative 750kV cable accessories, achieving national-level product technology certification [3]

Group 1: Company Overview - The company has expanded its business from smart city solutions to digital economy and AI applications, focusing on providing digital and information solutions [3] - The strategic planning is centered around the integration of smart IoT, big data, and AI, with a particular emphasis on the optical field as a second growth curve [3] Group 2: Investment Strategy - The investment in the optical and optical communication sectors is based on years of industry tracking and deep understanding, starting with an early investment in Guangdong Jinding Optical Technology Co., Ltd. [3] - The company increased its investment in Guangdong Jinding by 2,000 million yuan in May 2025, recognizing the management team's insights into industry trends [3] Group 3: AI Software Development - The company established a Digital City Research Institute to actively develop AI-related fields, leveraging large model capabilities to enhance product performance and new product development [4] - The self-developed AI intelligent platform includes multi-modal data analysis, intelligent knowledge management, and precise Q&A capabilities, with applications in various sectors [4] Group 4: Order Status - As of June 30, 2025, the company has an order backlog of approximately 985 million yuan, with new contracts and backlog reaching historical highs [6] - The current orders are primarily concentrated in core areas of digital transformation for government and enterprise clients, aligning closely with the company's main business [6] Group 5: Collaboration with Guanghong Precision - The collaboration with Guanghong Precision is characterized by technical synergy, where Guanghong's optical products enhance the company's digital solutions [5] - Market synergy is also evident, as the company's client resources can expand the application scenarios for Guanghong's optical products [5] Group 6: Optical Communication Business - Guanghong Precision is focusing on developing core optical products for optical communication, including micro-lens arrays and high-precision optical components [7] - These products are currently in the technical optimization phase and are intended to support the company's data communication business [7] Group 7: Risk Warning - The company advises investors to refer to official announcements for business information and clarifies that descriptions of future strategies do not constitute binding commitments [9]

债券代码：123054 债券简称：思特转债 | | 销的模式；而在城市和数字经济领域，因为行业性质决定了协同合作的需要， | | --- | --- | | | 因此公司侧重于构建生态合作伙伴，共同做大"蛋糕"。 | | | 2、公司在出海领域是否有布局？ | | | 答：公司在出海业务领域有所布局。整体出海业务布局以深圳为起点，从 | | | 服务香港的运营商出发拓展其他业务。在出海领域，公司以 AI、算力等标准化 | | | 产品为重点突破口。 | | | 3、AI 行业发展很快，新进入者也很多。站在思特奇角度，公司在算力调 | | | 度业务上有什么核心优势？ | | | 答：思特奇在算力领域重点是做到整合需求，系统性参与整个国家算力发 | | | 展，而非单一聚焦于供给侧。在这个方面，公司的核心优势在于城市经济等方 | | | 面的全面统筹。 | | | 4、公司营收比较依赖运营商，今年运营商方面的订单预期是多少？ | | | 答：订单相关信息请关注公司 年度报告。近年来，公司第二、第三曲 2025 | | | 线不断发展，相关业务正稳步推进中，其成效预计将在后续年度逐步释放。 | | | 5、公司在 ...