证券代码：000039、299901 证券简称：中集集团、中集 H 代 中国国际海运集装箱（集团）股份有限公司 投资者关系活动记录表 编号：2026-03 | | □特定对象调研 □分析师会议 | | | | --- | --- | --- | --- | | 投 资 者 关 系 | □媒体采访 □业绩说明会 活 | | | | | □新闻发布会 √路演活动 | | | | 动类别 | □现场参观 | | | | | □其他 （请文字说明其他活动内容） | | | | | 策略会：Goldman Sachs APAC Consumer & | Corporate Day、 | Leisure | | 参 与 单 位 名 | 称 瑞银大中华研讨会、摩根士丹利策略会、长江证券策略会 | | | | 及人员姓名 | 一对一：人保香港、华泰证券、招商基金、中邮基金、永赢基金、 | | | | | 汇添富、广发基金、CLSA | | | | 时间 | 年 月 2026 1 | | | | 地点 | 中集集团总部、香港、上海、深圳、重庆 | | | | 上市公司 | 中集集团董事会秘书 吴三强 | | | | 接待人员 ...

四川国光农化股份有限公司 投资者关系活动记录表 证券代码： 002749 证券简称：国光股份 植物生长调节剂在使用上具有以下特点：一是活性较高，使用 不当极易对作物的生长发育产生负面影响；二是使用效果常因气 候、长势以及使用的时间、方法和浓度的不同而表现出很大的差异； 三是植物生长调节剂不属于营养物质，不具备肥效，需要综合的管 理才能达到应用的最佳效果。因此，丰富的应用技术积累以及高质 量的技术服务对推广产品至关重要。据测算，植物生长调节剂的市 场容量约 600 亿元，目前其市场规模远低于前述测算的市场容量， 未来发展空间巨大。 植物生长调节剂行业的现状以及特点如下：有关资料显示，截 至 2025 年末，我国有效登记的植物生长调节剂产品约 2100 多个， 公司的植物生长调节剂登记证约占国内总登记数量的 7.1%。目前行 业有以下特点：①以原药生产、销售为主，原药生产企业以出口为 主；②行业分散，大部分企业的登记产品品种不多（据统计，有 10 个及以上植物生长调节剂登记证的企业仅 40 余家），即业内大部 分企业覆盖的作物较少；③对应用技术要求较高；④产品应用范围 广，同一种植物生长调节剂产品，因作用效果不同 ...

Group 1: Company Performance Overview - In 2025, BenTu is expected to achieve revenue of approximately 3.8 billion CNY, a year-on-year decrease of about 19%, with a net profit of approximately 345 million CNY, down about 44% [3] - In 2025, JiHai Micro is projected to have revenue of around 1.09 billion CNY, a year-on-year decline of about 22%, with a net loss of approximately 60 million CNY, a decrease of about 118% [3] - The general consumables business is expected to generate revenue of approximately 5.3 billion CNY in 2025, a year-on-year decrease of about 5%, with a net loss of 40 million CNY, down about 159% [3] Group 2: Market Expansion and Strategy - The company is adopting a differentiated and localized strategy for key overseas markets, establishing local subsidiaries and teams to tailor solutions based on market characteristics [3] - BenTu has shipped over 20 million units, indicating a significant market presence, with plans to enhance consumable connection rates as a core strategy for revenue growth [5] Group 3: Product Development and Innovation - JiHai Micro has launched the world's first G32R501 real-time control DSP and G32R430 MCU products for industrial robotics, achieving advanced technical specifications [4] - In the automotive electronics sector, JiHai Micro's ultrasonic sensor chips fill a gap in domestic automotive intelligent technology, with successful mass production in several mainstream automotive platforms [5] Group 4: Future Outlook - The company is focusing on optimizing the revenue structure between hardware and consumables, viewing the expansion of original consumables as a key growth path for sustainable revenue increase [5] - The company is actively participating in the digital energy market with innovative solutions, supporting clients' global expansion strategies [4]

南方电网综合能源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 ☑ | 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 | | 活动参与人员 | 国盛证券 高紫明 张津铭 张卓然；嘉实基金 孙逸晨；鹏华基 | | 金 | 司马朝阳；新华资产 杨习之；浔峰投资 李健龙；太和致 | | 远 | 张鑫；睿濮投资 陈志涛；太保资产 魏巍；新华基金 刘龙 | | 龙 | | | 时间 | 2026 年 1 月 30 日 | | 地点 | 广州 | | 形式 | 现场会议 | | 上市公司接待人 | 董事会工作部：程国辉、任嫣然、陈星星 | | 员姓名 | | | | 1.公司 2025 年推动"服务倍增"、"节能倍增"等重点 | | | 专项行动的实施效果如何？ | | | 答：一是开展"服务倍增"，拓展市场新空间。公司组建 | | 交流内容及具体 | 数字服务公司，做强智业公司、鼎云公司，打造覆盖咨询、设 | | 回答记录 | 计、建设、运营、电力交易服务 ...

Group 1: Seasonal Order Fluctuations - The company experiences seasonal fluctuations in customer orders, closely tied to the product release cycles of end customers in the consumer electronics sector [3] - Orders peak in the fourth quarter or first quarter if new products are launched in the first half of the year, and in the second or third quarter for launches in the second half [3] - The company effectively manages these fluctuations through flexible production scheduling and inventory management, ensuring timely delivery during peak periods [3] Group 2: Impact of Rising Storage Prices - Rising storage prices exert pressure on the consumer electronics market, potentially leading to price increases [4] - The impact on the company's gross margin is manageable due to the low unit value of magnetic materials in consumer electronics and a cost-plus pricing model [4] - The company maintains stable relationships with key customers, focusing on R&D, product performance, and quality control rather than solely on pricing [5] Group 3: Customer Concentration and Risk Management - The company has a high customer concentration, primarily serving leading clients in the consumer electronics industry, which poses certain operational risks [5] - To mitigate these risks, the company is expanding into new application areas such as new energy vehicles and high-end motors, enhancing market reach [6] - The company is also improving its technical capabilities and product quality to deepen existing customer relationships and increase customer loyalty [6] Group 4: Involvement in Product Design - The company actively participates in the front-end magnetic circuit design for its clients, rather than merely acting as a supplier [7] - This involvement allows the company to provide customized design solutions that enhance product performance and competitiveness [7] - Intellectual property rights for innovations developed during this process remain with the company, reflecting its commitment to innovation and technical protection [7] Group 5: Employee Welfare and Corporate Culture - The company adheres to a "people-oriented" philosophy, providing social insurance and housing funds for employees [7] - Additional benefits include transportation, communication, and dining subsidies, as well as various welfare programs and activities to foster a harmonious work environment [7] - The company aims to grow alongside its employees, creating shared value [7]

万兴科技的入局 AI 漫剧并非单纯的跨界扩展，而是其在数字创意软 件领域 20 多年的深耕基础上的自然延伸。万兴科技在全球拥有超过 20 亿 的累计活跃用户，涵盖了中长视频、短视频、内容营销等多个场景，其中 不少用户已在公司旗下的万兴喵影/Filmora、万兴天幕/ToMoviee 等产品中 进行漫剧创作，形成了一定用户基础。此外，在 AI 领域的持续投入下， 公司具备了领先的技术能力及成本优势。因此，万兴科技的目标是推出一 款专业且可规模化的 AI 漫剧制作工具，从而真正提升漫剧创作效率，降 低成本，并满足市场日益增长的需求。 证券代码：300624 证券简称：万兴科技 万兴科技集团股份有限公司 投资者关系活动记录表 编号：2026-001 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | 动类别 | □现场参观 | | 其他 | （在线会议） | | | 中信证券-杨泽原、韩林轩；东方财富证券-李宇轩；中信建投证券-李楚 | | | 涵；长江证券-卢之晗；西部证券-谢忱；德邦证券-王思；天风 ...

Market Demand and Pricing Strategy - Current market demand remains weak, indicating a challenging environment for the company [2] - The company plans to maintain a "high-quality positioning" and "co-creation and win-win" philosophy to stabilize pricing amidst ongoing industry price wars in 2025 [2] Acquisition and Business Development - The acquisition of Beijing Songtian Cheng Technology Co., Ltd. aims to leverage its advanced technology and production capabilities in the gas and heating municipal pipeline sector, enhancing the company's competitive edge [2][3] - The company seeks to transition its municipal engineering business model from "selling individual products" to "selling integrated solutions" [3] Future Planning and Financials - The operational goals for 2026 are still under discussion, with specific indicators to be disclosed in the 2025 report [3] - The company has a stable and transparent dividend policy, maintaining an average payout ratio of 70-80% since its listing [3] Material Costs and Capital Expenditure - Significant price increases in copper have been noted, while polyethylene and polypropylene prices are experiencing low volatility [3] - Capital expenditures are primarily focused on expanding production facilities and upgrading equipment, averaging around 300 million yuan annually in recent years [3] Business Opportunities and Market Focus - The company will continue to prioritize customer and project selection, with an increased focus on expanding non-real estate business opportunities due to the lack of significant macroeconomic improvement [3]

Group 1: Market Outlook and Strategy - The domestic capital expenditure growth is expected to slow down in 2026, but structural opportunities remain, prompting the company to actively explore domestic market expansion and seize capacity expansion opportunities in niche markets [2][3] - In international markets, regions such as Southeast Asia, South Asia, Africa, and the Middle East are experiencing rapid increases in per capita beverage consumption, which the company aims to leverage for expanding international orders and improving order quality [2][3] Group 2: Production Capacity and Operations - The company currently has sufficient orders, and after the completion of factory expansion projects, it plans to enhance assembly efficiency through scientific production scheduling and lean manufacturing to meet delivery demands [3][4] - As of the first half of 2025, the revenue from the company's OEM (Original Equipment Manufacturer) business accounted for 6.05% of total revenue, primarily involving the production of PET preforms, bottled beverages, and daily chemical products [3] Group 3: Currency and Risk Management - The majority of overseas orders are settled in USD, with RMB and other currencies used for regional transactions; the company monitors exchange rate fluctuations and may engage in foreign exchange hedging to manage risks [3] - The payment performance of major clients in India is currently good, with no significant default risks reported [3] Group 4: Technology and Innovation - There is no straightforward substitution logic between dry and wet sterilization processes; the choice of technology depends on the product characteristics and production needs of clients [4] - The initial investment for dry sterilization lines is slightly higher than that for wet sterilization lines, but cost comparisons are highly dependent on customized client requirements [4]

Group 1: Market Demand and Competition - The demand for athletic shoes remains resilient as they are considered essential consumer goods, with significant growth potential in developing countries compared to developed markets like the US and Europe [2] - The overall consumption scale of footwear is expected to maintain long-term resilience despite short-term fluctuations due to macroeconomic factors [2] - The industry landscape is relatively stable, with limited large-scale new entrants due to the long development cycles and complexities in mass production management [2] Group 2: Order Outlook and Economic Impact - The company anticipates a conservative order forecast for 2026 due to uncertainties in the international political and economic landscape [3] - The company is actively pursuing a diversified customer strategy to enhance performance resilience amid economic uncertainties [3] Group 3: Profitability and Cost Management - The gross margin is expected to decline in 2025 due to several new factories being in ramp-up stages, with ongoing efforts to improve operational efficiency and cost reduction [3] - The company has achieved profitability in three out of four new factories launched in 2024, indicating progress in operational improvements [3] Group 4: Automation and Production Efficiency - Full automation in athletic shoe production is challenging due to the variety of styles, sizes, and materials, but the company is continuously upgrading production lines and collaborating with equipment manufacturers to enhance automation levels [4] - The company aims to reduce reliance on manual labor and improve production efficiency through customized equipment and process improvements [4] Group 5: Pricing Strategy and Revenue Impact - Changes in average selling prices are influenced by customer and product mix, with fluctuations in brand representation directly affecting average prices [5] - The company's diversified brand strategy and ongoing optimization of customer and product structures will impact average selling price trends [5] Group 6: Capital Expenditure and Dividends - The company plans to invest approximately RMB 1.1 billion to 1.7 billion annually in capital expenditures from 2022 to 2024 for new factory construction and automation upgrades [7][8] - The dividend payout ratio has been substantial, with cash dividends accounting for about 89% of net profit in 2021 and projected to be around 70% in 2024 [9]

证券代码：002439 证券简称：启明星辰 启明星辰信息技术集团股份有限公司投资者关系活动记录表 编号：2026-001 | | □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 （请文字说明其他活动内容） | | | 安-华创证券有限责任公司；马宗铠-东北证券股份有限公司；刘聪颖-中邮证券 | | | 苏仪-中泰证券股份有限公司；李铭姌-中国国际金融股份有限公司；孙诗洋-中 国国际金融股份有限公司；李楚涵-中信建投证券股份有限公司；魏宗-国泰海 通证券股份有限公司；库宏垚-国信证券股份有限公司；桂杨-兴业证券股份有 | | | 限公司；孟灿-国金证券股份有限公司；耿军军-国元证券股份有限公司；胡昕 | | | 有限责任公司；陈昭旭-中邮证券有限责任公司；张令泓-中银基金管理有限公 | | | 司；孔文彬-中国人保资产管理有限公司；刘颖飞-平安银行股份有限公司；冯 | | | 皓琪-西部利得基金管理有限公司；周昊-东兴基金管理有限公司；魏巍-中信期 | | 活动 ...