Market Outlook - Domestic market shows positive signs with continuous growth in earthmoving machinery [2] - National policies like trillion-yuan bond issuance and "large-scale equipment renewal" are expected to stabilize and revive the industry [2] - Long-term optimism due to urbanization, investment growth, new energy industry development, natural equipment renewal, and growth potential in niche products [2] - Overseas market is vast, with Chinese brands well-positioned for expansion [2] Market Share - 17 types of machinery, including truck cranes and road rollers, rank first domestically [3] - Global leadership in lifting machinery, mobile cranes, and horizontal directional drills [3] - Strong global positions in pile machinery, concrete machinery, road machinery, and tower cranes [3] - High rankings in mining equipment, excavators, and loaders globally [3] Revenue Breakdown - Lifting machinery accounts for 20.34% of total revenue [3] - Earthmoving machinery contributes 28.02% [3] - Concrete machinery makes up 10.39% [3] - Aerial work platforms account for 9.12% [3] - Mining machinery represents 7.13% [3] - Road machinery contributes 5.49% [3] - Other engineering machinery accounts for 19.51% [3] Overseas Market - Overseas revenue accounted for 46.7% in the first three quarters of 2024 [4] - Key export regions include Southeast Asia, Central Asia, Africa, South America, Europe, North America, and Oceania [4] - Export product structure: earthmoving machinery 38%, lifting machinery 26%, mining machinery 8%, road machinery 7%, and other engineering machinery [4] - Overseas market growth driven by increasing demand, improved product quality, and enhanced service capabilities [3] Global Presence - Marketing network covers over 190 countries and regions [4] - Comprehensive product marketing services and full-value chain solutions provided globally [4]

Overseas Market Strategy - The overseas market is expected to maintain a positive trend, with international revenue continuing to grow [2] - Domestic brands are gaining competitiveness in overseas markets due to improved product quality, enhanced channel layouts, and accelerated aftermarket services [2] - The penetration rate of domestic brands in overseas markets is increasing, with significant room for growth in major regional markets [2] - Domestic companies are adjusting global production plans and accelerating globalization strategies [2] - The company's international revenue accounted for 46.7% of total revenue in the first three quarters of 2024 [3] Key Export Regions - The company has a global marketing network covering over 190 countries and regions [2] - Major export regions include Southeast Asia, Central Asia, Africa, South America, Europe, North America, West Asia, North Africa, Central America, and Oceania [3] - Future strategic focus areas include Latin America, Asia, and high-end markets in Europe, America, and Australia [3] Export Product Structure - In the first half of 2024, the export product structure was as follows: earthmoving machinery (38%), lifting machinery (26%), mining machinery (8%), road machinery (7%), and other engineering machinery products [3] Domestic Market Outlook - Positive signs are emerging in the domestic market, with earthmoving machinery showing consecutive months of growth [3] - Policies such as the trillion-yuan special bond issuance and "large-scale equipment renewal" are expected to stabilize and revive the industry [3] - Long-term growth drivers include uneven urbanization development, strong investment growth momentum, new energy industry development, natural equipment renewal demand, and growth potential in niche product areas [3] - The industry is expected to enter an upward phase of the cycle, with overseas markets offering significant opportunities for Chinese brands [3]

Group 1: Financial Overview - In the first three quarters of 2024, the company reported a revenue of 2.857 billion yuan, a year-on-year decrease of 1.71% [3] - The net profit attributable to shareholders was 721 million yuan, reflecting a year-on-year increase of 6.11% [3] Group 2: Product Segmentation Refrigeration Products - The refrigeration segment includes commercial central air conditioning compressors, frozen refrigeration compressors, and heat pump compressors [3] - Commercial central air conditioning compressors are primarily used in supermarkets, energy-efficient buildings, and infrastructure projects [3] - Heat pump products are growing rapidly but currently have a low base impact; future growth is expected with the advancement of carbon policies and new product launches [3] Air Compression Products - Air compressors are widely used in industries such as pharmaceuticals, chemicals, electronics, and mining [3] - The company is focusing on promoting high-end applications of oil-free air compressors, which have higher added value compared to traditional oil-lubricated compressors [3] Vacuum Products - Vacuum products are mainly utilized in the photovoltaic and semiconductor industries, particularly in crystal pulling and battery cell processes [4] - The photovoltaic sector is currently under pressure, especially in crystal pulling, while the battery cell segment is performing relatively better [4]

Performance and Growth - Q4 2024 performance growth slowed due to seasonal industry trends, with the consumer electronics peak season typically in Q3 [1] - The micro-prism project's shipment cycle in 2024 was earlier than in 2023, impacting Q4 performance [1] - The company expects stable growth in the infrared cut-off filter sector in 2025, with potential growth in coated filters and micro-prism products due to new client models [6] - The automotive business is expected to show better profit performance by 2026, driven by domestic client HUD upgrades and overseas client production [6] - The semiconductor business will remain stable, with new opportunities expected from AR/VR and spatial computing developments [6] AR/VR and AI Trends - AI glasses are in an early stage of explosive growth, with AI+AR being an inevitable trend [7] - The company is focusing on becoming a core AR optical display solution provider, with AR optics listed as a top priority [8] - The AR glasses market is still in its infancy, with most products featuring audio functions and low-resolution displays [13] - The company is optimistic about reflective waveguide technology, which offers advantages in optical performance and resolution [12] - The ideal weight for waveguide lenses is not yet defined, varying based on AR glasses design [14] Organizational and Strategic Adjustments - Organizational adjustments may lead to fluctuations in capital expenditures and period costs, but are necessary for long-term client development [3] - The company is implementing a "field-first" approach in 2025 to improve efficiency and maintain strategic focus [3] - The company is transitioning to a new phase, with the Taizhou base focusing on core clients and the Vietnam base supporting dual-circulation strategy [18] - The company is confident in its ability to coordinate resources and enter a new development stage, leveraging its technical capabilities and client relationships [18] Client and Market Expansion - The company is diversifying its client base by expanding into North American and South Korean markets, with Vietnam playing a key role in South Korean client development [11] - The company is executing a dual-circulation strategy, focusing on innovative products in high-end markets and ensuring profitability in general products [11] - The company expects positive market signals from AI integration in smartphones and client expansions in India and Africa [20] Technological Developments - The company is addressing challenges in reflective waveguide technology, with ongoing efforts to improve production processes [19] - The company is developing NPI production lines for reflective waveguides, with some basic processes already established [19]

证券代码:002273 证券简称:水晶光电 编号: 2025003 | | ☑ 特定対象调研 □分析师会议 | | --- | --- | | 投资者关系活动 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 | | 参与单位名称 | 国投证券:华泰证券;山西证券:华泰证券(上海)资管:上海原点资管;中 | | | 海基金;财通资管;华金证券 | | 时间 | 2025年1月10日 | | 形式 | 线下及线上调研 | | 上市公司接待人 | IR | | 员姓名 | | | 投资者关系活动 | 1、问:公司 2024年业绩预告已经披露了,取得当前业绩主要的驱动原因是什么? | | 主要内容介绍 | 答:公司的主要业务从出货量上来看都有比较好的增长,尤其是微棱镜产品, | | | 随着机型的下沉,市场总需求有所提升,公司作为主要供应方,出货量的提升带动 | | | 了核动率,另外薄膜光学面板、安卓旋涂滤光片出货量也有所提升,很好地带动了 | | | 公司业绩增长。 | | | 除此之外,2024年公司落地"降本增效",通过预算控制、人效提升、设备利 | ...

Group 1: Business Performance - The company's overall revenue remained stable, with the automotive display business accounting for approximately 35% of revenue, showing a year-on-year growth of over 40% [2][3] - The smartphone display business, particularly the TM17 AMOLED segment, contributed over 20% to revenue, with a year-on-year increase exceeding 25% [2][3] Group 2: Automotive Display Sector - The company maintained the top market share in the global automotive display sector, with significant growth in the HUD (Head-Up Display) segment, achieving a year-on-year revenue increase of over 40% [3] - The LTPS (Low-Temperature Polycrystalline Silicon) technology in automotive displays saw a remarkable year-on-year revenue growth of over 250% [3] Group 3: Future Development Plans - The company aims to enhance its competitive edge in the flexible AMOLED smartphone display market by increasing the proportion of high-end products and strengthening partnerships with flagship clients [4] - The Micro-LED business is focused on automotive and splicing display applications, with plans for small batch production by the end of 2025 [5] Group 4: Non-Display Applications - The company is developing non-display applications based on panel technology, including smart antennas and flexible sensors, which are currently in the incubation phase [8] Group 5: Profitability Improvement - The overall gross margin showed a sequential improvement, driven by continuous product specification enhancements and cost reduction efforts, particularly in the flexible AMOLED smartphone display segment [9] Group 6: Strategic Development Framework - The company adheres to a "2+1+N" development strategy, focusing on mobile and automotive displays as core businesses, while positioning IT displays as a key growth area [10][11]

| | 料价格及汇率波动影响很大。 | | | --- | --- | --- | | | 四、 原材料主要是哪些？ | | | | 主要有铝材、铁、玻璃、塑料藤条、棉类、布、五金件等。 | | | | 五、 公司怎么看终端市场需求？ | | | | 我们的产品属于日常生活休闲的消费品，适用于户外庭院，更 | | | | 换周期较短，存量换新需求稳定。 | | | | 六、 公司海外产能的建设？ | | | | 我们整个行业供应商基本都是中国企业，东南亚的生产大都也 | | | | 是中国过去的，我们今年也在越南设立了子公司，布局了部分产能， | | | | 目前工厂规模不大，今年预计 1.5 亿自产产能，同时我们还有越南 | | | | 的外协，这些海外产能力求做到原材料本土化。 | | | | 七、 每年新品的占比？ | | | | 每年新品的占比基本保持 30%左右。我们主要通过每年推出一 | | | | 定的新产品设计、引入新的材料应用、工艺创新等多种方式，尽可 | | | | 能提高我们的综合毛利率。 | | | | 八、 三季度报告里的公允价值变动损益及资产处置收益 | | | | 是？ | | ...

Group 1: Company Overview and Investor Relations - The company is Suzhou Sileck Precision Equipment Co., Ltd., with stock code 300382 [1] - The investor relations activity involved a telephone conference with participation from 170 representatives from various funds and securities firms [2][3] Group 2: Business Expansion Plans - The company plans to introduce battery structure components in its U.S. subsidiary, focusing on square and cylindrical battery shell production based on customer demand and market conditions [3][4] - Initial production will start with cylindrical battery shells, with a noticeable increase in demand for larger cylindrical shells [3][5] Group 3: Production and Cost Considerations - The company aims to establish production lines in the U.S. to mitigate high transportation costs and quality risks associated with battery shell shipping [5] - The production capacity for cylindrical battery shells is expected to ramp up quickly, leveraging existing equipment and minimizing construction needs [7] Group 4: Technological Advantages - The company utilizes the DWI (Direct Wall Ironing) process for manufacturing battery shells, which offers significant advantages over traditional stamping methods, including improved pressure resistance and production speed [8][9] - The DWI process can achieve production speeds of 80-100 units per minute, enhancing efficiency compared to current market methods [9]

证券代码:301355 证券简称:南王科技 福建南王环保科技股份有限公司 投资者关系活动记录表 编号: 2025-001 | | ☑ 特定対象调研 □ 分析师会议 | | --- | --- | | 投资者关系活动 | □ 媒体采访 □ 业绩说明会 | | 类别 | ロ 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） | | | 前海畅誉、浙矩特资、开源证券、中山证券、同花顺、证道基金、 | | 参与单位名称及 | 小四喜资产、富农温室、瀚鑫私募、中叶控股、佛山中创上市孵化 | | 人员姓名 | 基地、中创资本、金瑞利数据、长城证券、芙蓉兴基金、无限风光 | | | 照明、众鑫投资、高胜咨询、优品投资及部分个人投资者 | | 时间 | 2025年１月 10日 15: 00-17: 30 | | 地点 | 公司会议室 | | 上市公司接待人 | 董事长:陈凯声先生、副总经理:黄国滨先生 财务总监:郑清勇先生、董事会秘书:刘莺莺女士 | | 员姓名 | | | | 战略投资部总监:孙悦女士 公司向来访者介绍了公司基本情况,包括公司发展历程、主营业 | | | ...

证券代码:002916 公司 PCB 业务在深圳、无锡、南通及泰国项目（在建）均设有工厂。一方面，公司可通 过对现有成熟 PCB 工厂进行持续的技术改造和升级，增进生产效率，释放一定产能；另一 方面，公司在南通基地尚有土地储备，具备新厂房建设条件，南通四期项目已有序推进基建 工程，拟建设为具备覆盖 HDI 等能力的 PCB 工艺技术平台。公司将结合自身经营规划与市 场需求情况，合理配置业务产能。 证券简称:深南电路 深南电路股份有限公司投资者关系活动记录表 | 编 言 | | --- | | . . | | 2025-03 | | 投资者关系 | √特定对象调研 | □分析师会议 | □现场参观 | | --- | --- | --- | --- | | 活动类别 | □媒体采访 | □业绩说明会 | □新闻发布会 | | | □路演活动 ） | √其他 ( | 券商策略会 | | 活动参与人 | 鹏华基金、富荣基金、国投证券自营、先锋基金、海港人寿、红土创新基金、广发资管、 | | | | 员（排名不 | 第一创业证券、中山证券资管、玄元投资、创金合信基金、中信资管、恒悦资产、华西证 | | | | 分先后 ...