Group 1: Power Generation Performance - In Q2 2025, the company achieved a power generation of 11.615 billion kWh, a year-on-year increase of 0.67% [1] - For the first half of 2025, the total power generation was 24.573 billion kWh, a year-on-year decrease of 3.66% [1] - The total on-grid electricity for the first half of 2025 was 22.837 billion kWh, a year-on-year decrease of 3.52% [1] Group 2: Market Conditions and Strategy - The coal market in the first half of 2025 was characterized by a balanced supply and demand, leading to a downward trend in prices [2] - The company adopted a strategy focused on market orientation and efficiency, enhancing thermal power marketing and optimizing fuel procurement management [1] - The company is also diversifying financing to optimize debt structure and reduce funding costs [1] Group 3: Coal Supply and Price Forecast - The main sources of coal procurement are local areas in Hebei, Shanxi, Shaanxi, and Inner Mongolia [2] - It is anticipated that coal prices will continue to decline in the second half of 2025 due to the ongoing release of domestic thermal coal production capacity [2] Group 4: Project Development and Expansion - Ongoing projects include the 2×66 MW expansion at Xibaipo Power Plant and the 2×35 MW project at Renqiu Thermal Power Plant, both expected to be operational by 2026 [2] - The company is also increasing investment in offshore wind projects, including the 250 MW Tangshan Jiantou Xiangyun Island project [2] Group 5: Dividend Policy - The company has established a stable profit distribution policy, increasing the cash dividend from 30% to 50% of the distributable profits starting from 2024 [2]

Group 1: Company Overview - The main business components of the company include industrial steam turbines, gas turbines, and after-sales services [1] - Key subsidiaries include Turbine Casting and Forging Company, Turbine Auxiliary Machinery Company, and others, each with specific core businesses [1] Group 2: Product Applications - Industrial steam turbines are categorized into industrial drive turbines and industrial power generation turbines, serving critical roles in various industries such as petrochemical, metallurgy, and power generation [1] - The company is focusing on innovation and market opportunities in energy-saving and waste heat utilization to counteract the decline in downstream investments [2] Group 3: Competitive Advantages - The company offers full lifecycle services and solutions, achieving parity with foreign manufacturers in terms of energy consumption and performance, while providing better delivery times and cost-effective operation [3] Group 4: Gas Turbine Development - Collaboration with Siemens has led to the sale of over 50 units of SGT800 and SGT2000E; the company has also initiated independent R&D since 2016 [4] - Investments in technology and partnerships aim to enhance operational capabilities and expand service areas [4] Group 5: Corporate Restructuring - Following the merger with Hailianxun, the company will undergo changes in name, registered capital, and governance structure to align with new business strategies [5] Group 6: Employee Engagement - Strategies to enhance employee motivation include improving wages and benefits, innovating talent development models, and fostering a strong corporate culture [6] Group 7: Future Growth Drivers - Future performance growth is expected to stem from gas turbine development, overseas sales, service sectors, and other related investments [6]

Group 1: Overseas Expansion - The company's Hungary Phase I project is operational, and it is shipping to overseas customers [2] - The U.S. facility is completed, and equipment installation is underway, with samples being sent to overseas clients [2] Group 2: Impact of Solid-State Batteries - Semi-solid batteries still require separators, and some products have been supplied to relevant clients [2] - Full solid-state battery commercialization will take time, needing collaboration across the supply chain and ongoing technological advancements [2] Group 3: Profit Improvement Strategies - The company aims to enhance profitability through global capacity expansion and increasing overseas customer share [3] - Product structure optimization by increasing the proportion of coated films and developing high-value-added products [3] - Implementation of refined management practices to reduce costs and improve operational efficiency [3] Group 4: Key Clients for Overseas Bases - Major clients include LGES, Ultium Cells, and a large overseas automotive company [4] - Contracts include a supply agreement with Ultium Cells for up to $66.25 million worth of separators in 2025 [4] - A supply agreement with LGES for approximately 3.55 billion square meters of separators from 2025 to 2027 [4] - A contract with a well-known U.S. automotive company for about 973 million square meters of separators from 2026 to 2030 [4] Group 5: Industry Landscape and Company Position - The separator industry is undergoing consolidation due to price competition, with the company maintaining steady sales growth [5] - The company is positioned as a global leader in the separator market, focusing on accelerating globalization and enhancing competitiveness [6] Group 6: Solid-State Battery Developments - The company has established capabilities for mass production of semi-solid battery separators [7] - Research and production efforts are underway for lithium sulfide and solid electrolyte membranes in the full solid-state sector [7] Group 7: Competitive Barriers in Overseas Markets - The company has established overseas production capacity and a strong customer base, along with a robust intellectual property framework [8] - It was one of the first in the Chinese lithium battery industry to establish overseas production, with significant capacity in Hungary and the U.S. [8] - Long-term partnerships with global battery manufacturers enhance its market position [8]

Group 1: Company Overview - Securities Code: 002812, Securities Abbreviation: Enjie Co., Ltd. [1] - Bond Code: 128095, Bond Abbreviation: Enjie Convertible Bond [1] - Company Name: Yunnan Enjie New Materials Co., Ltd. [1] Group 2: Investor Relations Activity - Activity Type: Specific Object Research conducted on July 16, 2025 [2] - Participating Institutions: Huatai Bairui, Morgan Huaxin, Shenwan Hongyuan, among others [2] - Location: Hunan Enjie Conference Room 3 [2] Group 3: Key Technical Insights - Lithium Sulfide Preparation Method: The company chose the carbon thermal reduction method due to its safety and cost-effectiveness [2][3] - Role of Sulfide Solid Electrolyte: Used in composite cathodes and electrolyte membranes, requiring fine particle size and uniform distribution for effective lithium ion transport [3] Group 4: Production and Industrialization Progress - Production Capacity: The company is establishing a pilot production line for sulfide solid electrolyte materials in Yuxi, Yunnan, with a total investment of approximately 250 million CNY [3] - Current Status: The 10-ton pilot line is in equipment debugging phase, with plans for active production [3] - Solid-State Battery Industrialization: The company acknowledges that industrialization will take time and is currently in the early stages without significant revenue generation [3]

证券代码：002539 证券简称：云图控股 成都云图控股股份有限公司 投资者关系活动记录表 编号：2025-011 3、公司应城合成氨项目的建设内容和最新进展，投产后会给公司带 来的综合影响？ 答：公司应城基地 70 万吨合成氨项目，配套建设 60 万吨水溶性复合 肥、40 万吨缓控释复合肥、150 万吨精制盐等产线。目前，本项目已进入 加速落地阶段，主体结构已经完工，设备采购全部到位，正在有序开展 设备安装及配套设施建设。 本项目采用业内先进的工艺技术，升级打造"盐—碱—肥"全产业 链。降本增效方面，不仅解决了氮肥原料缺口问题，还能够实现资源的 高效利用和循环回收，降低各项能耗和综合成本，提升公司产品的盈利 水平和市场竞争力。产业链方面，可扩大公司产业规模，优化产能结 构，增强公司产业链之间的协同效应，为公司注入持续增长动能。 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 活动参与人员 中信证券、中泰证券、国金证券、兴全基金、申万菱信基金、海创基 金、富国基金、天弘基金、大成基金、国寿安保基金、银华基金、德邦 基金、工银瑞信基金、华 ...

Group 1: Company Overview and Market Position - The company is focused on the replacement of synthetic colorants with natural colorants, which presents significant opportunities for the natural colorant industry [2][3] - The company has established subsidiaries in India, Zambia, and Myanmar for capacity expansion and raw material processing [2][4] - The company currently has no refinancing needs but will disclose any future requirements promptly [3] Group 2: Product Development and Competitive Advantage - The company emphasizes enhancing its technical advantages, cost advantages, and solution-providing capabilities to maintain product competitiveness [3] - New product developments include ginger yellow pigment, with ongoing trials to improve processes and reduce costs [4][5] - The company is addressing the stability issues of natural colorants to facilitate their replacement of synthetic colorants [3][4] Group 3: Market Dynamics and Financial Performance - The market for natural colorants replacing synthetic colorants is expected to evolve gradually, with a need for several years to reach a balance between supply and demand [3][4] - The company aims to capture a larger market share, particularly in products like capsicum red and lutein, while tomato lycopene will depend on cost reductions and market demand [3][4] - The company has seen significant improvements in gross margins for capsicum red due to reduced raw material costs [4][5] Group 4: Strategic Initiatives and Future Plans - The company plans to expand its health food business through partnerships, leveraging its technical and production strengths [6][7] - The company is exploring the application of plant-based gels in the health food sector [7] - The company is focused on building raw material strategic bases in countries like Myanmar, India, and Zambia to enhance cost advantages [7]

Group 1: Automotive Testing Services - The company has entered the automotive testing field through the acquisition of Guanbiao Testing, providing services for new energy vehicles and components, covering areas such as material testing, environmental reliability, electrical performance, and electromagnetic compatibility (EMC) [2] - Guanbiao Testing has obtained third-party testing qualifications from major automotive manufacturers including Jianghuai Automobile, Geely, Leap Motor, and Chery, significantly expanding its service capabilities [2] Group 2: Future Growth Points - The company aims to optimize its business structure, focusing on high-value emerging sectors, while leveraging synergies from mergers and acquisitions and deepening international expansion to drive performance growth [2] - Initiatives include building a one-stop service capability, promoting cross-sector resource integration, and extending the industrial chain through global layout and market expansion along the "Belt and Road" [2] - The company is also investing in digitalization and technological innovation to create an intelligent testing platform, enhancing efficiency and service quality through AI and IoT applications [2] Group 3: International Market Expansion - The company is advancing its global layout in phases, initially targeting countries along the "Belt and Road" by establishing localized teams to meet local testing and certification needs [2] - In the mid-term, the company plans to set up R&D centers in mature markets like Europe and the U.S. to absorb advanced experiences and promote mutual recognition of qualifications [2] - As of now, the company has established regional offices in countries such as Vietnam, Thailand, Indonesia, and Laos, creating a grid service system that covers "Belt and Road" countries [2] Group 4: Disclosure Information - The activity does not involve any undisclosed significant information [2]

Group 1: Company Overview and Product Offerings - 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, covering a temperature range of -271°C to 200°C [2]. - The company has developed a full range of magnetic levitation compressor products, showcasing significant technological advantages and market performance, particularly in the Beijing Winter Olympic Village project [2]. - The company participates in drafting national standards for centrifugal refrigerant compressors and oil-free suspended centrifugal chillers [2]. Group 2: Applications in Data Centers - The company’s subsidiaries provide cooling equipment for data centers, including variable frequency centrifugal chillers and integrated natural cooling screw chillers, which are listed in the Ministry of Industry and Information Technology's directory of advanced applicable technologies [2]. - Successful projects include major data centers for national supercomputing and various banks, with a strong presence in North America, Australia, Southeast Asia, and the Middle East [2]. - Upcoming product launches include upgraded IDC-specific magnetic levitation and gas suspension series products, enhancing competitiveness [2]. Group 3: Nuclear Power Industry Solutions - The company focuses on core scenarios in nuclear power, developing technologies for nuclear island cooling and heat recovery, supporting the safe and efficient use of clean energy [3]. - It has supplied products to numerous nuclear power stations across China, including major projects like Hongyanhe and Ningde [3]. - The company is recognized for its contributions to the development of cooling systems for nuclear power plants, with extensive domestic and international case studies [3]. Group 4: Industrial Heat Management - The company is a pioneer in industrial heat pump technology, offering comprehensive solutions for energy recovery and utilization in line with national carbon reduction strategies [4]. - Key subsidiary Beijing Huayuan Taimao has been recognized as a national-level specialized "little giant" enterprise, holding numerous patents and awards for its innovative technologies [4]. - The company’s technologies have been included in national energy-saving technology directories and have received multiple awards for their contributions to energy efficiency [4]. Group 5: Marine Economy and Product Layout - The company is committed to high-quality development in the marine economy, focusing on providing smart solutions for deep-sea fishing and seafood processing [5]. - Its marine refrigeration systems are widely used in large fishing vessels and processing ships, with a strong emphasis on low-carbon and intelligent development [5]. - Recent achievements include recognition for key technologies in marine green energy systems, contributing to the integration of low-carbon energy solutions [5].

Group 1: Company Overview and Product Offerings - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers, covering a temperature range of -271°C to 200°C [2] - The company has developed a full range of magnetic levitation compressor products, showcasing significant technological advantages and market performance, particularly noted during the Beijing Winter Olympics [2] - The company is involved in drafting national standards for centrifugal refrigerant compressors and oil-free suspended centrifugal chillers [2] Group 2: Applications in Data Centers - The company’s subsidiaries provide cooling equipment for data centers, including variable frequency centrifugal chillers and integrated natural cooling function screw chillers, which are listed in the Ministry of Industry and Information Technology's directory of advanced applicable technologies [2] - Successful projects include major data centers across China, such as the National Supercomputing Center in Guangzhou and various banks and telecom companies [2] - The company plans to launch upgraded products for data centers in July 2024, enhancing its competitive edge [2] Group 3: Nuclear Power Industry Products - The company has developed innovative technologies for nuclear power applications, focusing on core scenarios like nuclear island cooling and heat recovery [3] - It has supplied products to several nuclear power stations in China, ensuring safe and efficient operation [3] - The company is recognized for its contributions to the development of cooling systems for nuclear power plants, with extensive domestic and international case studies [3] Group 4: Industrial Heat Management - The company is a pioneer in industrial heat pump technology, promoting a comprehensive solution for industrial heat control [4] - It has been recognized as a national-level specialized "little giant" enterprise, with numerous patents and awards for its innovative technologies [4] - The company’s technologies are included in national energy-saving technology directories and have received various national awards [4] Group 5: Marine Economy Product Layout - The company is committed to high-quality development in the marine economy, focusing on ship refrigeration systems as a traditional strength [5] - It provides comprehensive smart solutions for deep-sea fishing and seafood processing industries, with certified ship refrigeration products widely used [5] - The company is actively developing low-carbon energy systems for marine applications, aligning with current industry demands [5]

Group 1: Company Overview and Product Offerings - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers, covering a temperature range of -271°C to 200°C [2]. - The company has developed a full range of magnetic levitation compressor products, showcasing significant technological advantages and market performance, particularly in the Beijing Winter Olympic Village project [2]. - The company is involved in drafting national standards for centrifugal refrigerant compressors and oil-free suspended centrifugal chillers [2]. Group 2: Applications in Various Industries - The company’s products are utilized in various sectors, including food freezing and refrigeration, chemical production, rail transportation, and data centers [2]. - The company’s subsidiary, Dunham-Bush, provides cooling equipment for data centers, with products recognized in the Ministry of Industry and Information Technology's directory of advanced applicable technologies [2]. - The company has successfully served numerous data center projects domestically and internationally, including partnerships in North America, Australia, Southeast Asia, and the Middle East [2]. Group 3: Nuclear Power Sector - The company has developed innovative technologies for nuclear power applications, focusing on core scenarios such as nuclear island cooling and heat recovery [3]. - The company has supplied products to several nuclear power stations in China, enhancing safety and efficiency in nuclear energy utilization [3]. - Dunham-Bush is recognized as a leading service provider in the nuclear island refrigeration market, with over 20 years of experience [3]. Group 4: Industrial Heat Management - The company is a pioneer in industrial heat pump technology, promoting a comprehensive solution for industrial heat control [4]. - The subsidiary, Beijing Huayuan Taime Energy Saving Equipment Co., Ltd., has been recognized as a national-level specialized "little giant" enterprise, holding numerous patents and awards [4]. - The company’s technologies have been included in national energy-saving technology directories and have received various national awards for innovation [4]. Group 5: Marine Economy and Low-Carbon Solutions - The company is committed to high-quality development in the marine economy, providing comprehensive smart solutions for the fishing and seafood processing industries [5]. - The company has developed low-carbon energy systems for marine applications, including LNG cold energy recovery and intelligent energy management systems [5]. - The company’s marine refrigeration systems are widely used in large fishing vessels and processing ships, aligning with national low-carbon development goals [5].