浙江金固股份有限公司投资者关系活动 记录表 编号：20250214 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动类 | □媒体采访 □业绩说明会 | | 别 | □新闻发布会 □路演活动 | | | ☑现场参观 | | | □其他 | | 活动参与人员 | 华创证券 苏千叶； | | | 喜世润投资 刘沛力； | | | 瓦琉咨询 刘玉金。 | | 时间 | 2025年2月14日（15:00-17:00） | | 地点 | 公司 | | 形式 | 一对多交流 | | | 一、金固股份基本情况 | | | 公司是一家以汽车车轮的研发、生产、销售为主营 | | | 业务的高新技术企业，是商务部和国家发改委认定的首 | | | 批"国家汽车零部件出口基地企业"，被中国汽车工业 | | | 协会评选为"中国汽车零部件车轮行业龙头企业"，被 | | | 国家工信部评为绿色工厂，也是国家知识产权示范企业， | | | 入选浙江省"专精特新"企业名单。 | | | 公司高度重视科技创新和产品研发，具有以研发和 | | 交流内容及具体问 | 客户需求为导向，进行科技成果产业化的丰富 ...

Group 1: Acquisition and Strategic Partnerships - The company is actively advancing the acquisition of Tian Shi Li Pharmaceutical Group, having received necessary regulatory approvals, with the transaction expected to be completed by Q1 2025 [3][4] - The partnership aims to leverage Huaren Sanjiu's strengths in brand building and CHC channel advantages to enhance Tian Shi Li's market efficiency, while Tian Shi Li will boost Huaren Sanjiu's R&D capabilities [5] Group 2: Market and Product Performance - The company is closely monitoring the high incidence of flu and corresponding product sales, ensuring efficient delivery to meet demand [7] - The company has seen growth in both sales volume and market share in its formula granule business due to strategic opportunities in centralized procurement [10] Group 3: Pricing and Cost Management - The company is considering price adjustments to cover rising costs of traditional Chinese medicine raw materials, while maintaining a focus on consumer and patient needs [8][9] - The average price of OTC core products is currently positioned lower than competitors, allowing for potential price increases without significant consumer pushback [8] Group 4: Financial and Operational Outlook - The sales expense ratio has shown a declining trend due to centralized procurement and changes in business structure, with a slight decrease expected as scale effects continue [11] - R&D investment is projected to steadily increase, with significant breakthroughs anticipated in areas such as oncology and respiratory treatments [12] Group 5: International and Future Growth - The company's overseas business currently represents a small portion of total operations, with ongoing attention to international market dynamics [13] - Future stock incentive plans are being considered as part of the company's reform initiatives, with a second phase expected to be launched in line with reform requirements [14]

Group 1: AI Application in Financial Industry - DeepSeek's high performance and low-cost advantages significantly promote AI application in the financial sector [3] - Major banks are the core clients of the company, showcasing a strong partnership in exploring and applying cutting-edge technologies [3] - The company has launched several AI model service products, including an AI model service platform and intelligent asset management assistant [3] Group 2: Changes in IT Architecture - DeepSeek will bring three main changes: the trend towards open-source, private deployment, and improved application effects [4] - The demand for private deployment is driven by banks' strict data security requirements, leading to a shift from technology-driven to business-driven needs [4] - Large banks may adopt centralized platforms for computing power, while smaller banks will balance model development time and computing investment [4] Group 3: AI Integration in BPO and Call Center Services - The company aims to leverage AI in call center operations, enhancing intelligent customer service and marketing effectiveness [5] - AI integration in call centers is expected to lead to cost reduction and efficiency improvement [5] - The growth of ITO and BPO services is anticipated to continue alongside advancements in AI technology [6] Group 4: Model Tuning and Value - Model tuning has shown significant value, with initial accuracy rates improving from 25% to 55-60% after six months of adjustments [7] - The complexity of model tuning requires deep understanding and experience, creating a competitive advantage for the company [7] Group 5: IT Spending Trends in Banking - The overall IT spending in the banking sector is expected to shift towards AI and data technologies as digital transformation progresses [8] - Banks are likely to adjust their budgets mid-year based on technological advancements and application needs, with a focus on AI investments [8]

Group 1: Company Performance and Outlook - The company is optimistic about 2025 performance due to a diverse customer base, with most clients showing growth in their performance guidance [1] - The company has maintained sales growth above the industry average in recent years, leading to an increase in market share [2] - The company plans to expand production capacity in response to market demand, with new factories in Indonesia and Vietnam expected to be operational in the next 3-5 years [3][4] Group 2: Competitive Advantages - The company employs a multi-client model, allowing it to adapt to market dynamics and meet diverse customer needs [1] - It possesses comprehensive shoe manufacturing technology and processes, with strong capabilities in development and mass production [1] - The company has established a good reputation in the industry, attracting new clients and maintaining strong relationships with existing ones [2] Group 3: Financial Management - The company emphasizes cash flow management, with average accounts receivable periods of approximately 55 days and accounts payable periods of about 42 days [12][13] - Capital expenditures from 2021 to 2023 ranged from 1.1 to 1.7 billion RMB annually, with expectations to maintain or slightly increase this level in the coming years [7][6] - The company has a history of significant cash dividends, with 2021 cash dividends accounting for about 89% of net profit, and 2022 and 2023 dividends at 43% and 44% respectively [15] Group 4: Production and Operational Insights - New factories typically take 1.5 to 2 years to reach full production capacity, which may temporarily impact gross margins [8] - The company’s pricing model is based on a cost-plus approach, resulting in similar gross and net margins across different order sizes [9] - The company has mechanisms in place to monitor order visibility and adjust production capacity accordingly [10] Group 5: Market and Regulatory Considerations - The company’s production facilities are primarily located in Vietnam, with plans to increase capacity in Indonesia, which may be affected by changes in trade policies and tariffs [11] - The company is aware of the challenges in automating production due to the complexity of shoe manufacturing, but is continuously working to improve automation in suitable processes [14]

投资者关系活动记录表 证券代码：300674 证券简称：宇信科技 北京宇信科技集团股份有限公司 投资者关系活动记录表 编号：2025-001 | 投资者关系活动 |  特定对象调研 |  | 分析师会议 | 媒体采访 | | --- | --- | --- | --- | --- | | 类别 | 业绩说明会 | | 新闻发布会 | 路演活动 | | | 现场参观 | 其他 | | | | | 机构名称 | 机构名称 | 机构名称 | 机构名称 | | | 建信基金 | 中泰证券 | 广发证券 | 景熙资产 | | | 君成投资 | 汇丰晋信 | 富安达基金 | 长信基金 | | | 富国基金 | 海南容光 | 摩根士丹利 | Hel Ved Capital | | | 长安基金 | 浦银安盛 | 海富通基金 | 博时基金 | | | 建信基金 | 银华基金 | 国联基金 | 上海尚雅 | | | 中邮人寿 | 诺德基金 | 国信证券 | 禾其投资 | | | 北京宏道 | 上海趣时 | 博道基金 | 摩根基金 | | | 兴证全球 | 平安基金 | 华泰柏瑞 | 上海山合 | | | 华宝基 ...

A3：苏州能斯达公司成立于 2013 年，已经在柔性传感器赛道耕耘了十余 年，因此无论是在敏感材料的研发储备方面，还是在产线的搭建上来看， 都已经相对成熟。目前能斯达的柔性传感器已经向高端消费电子、泛医 疗、汽车等多个应用领域形成了稳定的出货，同时由于柔性传感器作为 新的传感器技术品类，公司也在积极挖掘更多应用领域，寻求更为广阔 的市场需求。 证券代码：300007 证券简称：汉威科技 汉威科技集团股份有限公司 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 ☑其它（电话会议） | | | 47 家机构（共 57 人）其中包括： Alphahill Capital Limited、FOGA HOLDINGS LIMITED、IKARIA GROUP (HK) | | | LIMITED、LYGH CAPITAL PTE. LTD.、Pinpoint Asset Management Limited、 | | | Pleiad ...

Group 1: Product Overview - The Tom Cat AI emotional companion robot utilizes a MOE (Mixture of Experts) architecture and a custom "Tom Cat emotional companion vertical model" to enhance intent recognition, response speed, and mathematical capabilities [3] - The product was launched in December 2024 and has received positive sales feedback across platforms like Douyin, WeChat, JD, and Taobao [4] - The robot's design incorporates food-grade silicone and features multiple interactive functions, including voice interaction, touch sensing, and long-term memory, catering to users of all ages [6] Group 2: Competitive Advantages - The product leverages the Tom Cat family IP, which has a large global fan base, enhancing its market appeal [5] - A dedicated emotional companion model has been developed, focusing on the unique voice and persona of the Tom Cat character, ensuring a personalized user experience [5] - The robot's hardware design includes advanced sensors and actuators, providing a human-like interaction experience [6] Group 3: Future Development Plans - Continuous iterations and optimizations of the AI robot are planned, including enhanced interaction methods and software updates [7] - The company aims to expand its product line by introducing various AI robots based on different IP characters from the Tom Cat family, catering to diverse user preferences [7] - A range of new emotional companion products with different shapes, IP images, and price points is in the pipeline to meet various user needs [8] Group 4: Advertising Business Model - The company collaborates with major advertising service providers like Google, Meta, and ByteDance to leverage its large user base for advertising revenue [9] - An in-house ad control platform, Mediation, optimizes ad delivery through a hybrid bidding model, ensuring high ad monetization efficiency [9]

证券代码：300853 证券简称：申昊科技 债券代码：123142 债券简称：申昊转债 杭州申昊科技股份有限公司 投资者关系活动记录表 编号：2025-001 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 参 与 单 位 名 称 及人员姓名 华创证券、喜世润投资、华夏基金、西部证券、中信证券、 太平洋证券、誉辉资本、长江证券、东北证券、若川资管、 上银基金、鹏华基金、兴业证券、源峰基金、南土资产、高 熵资产、国信自营、信达证券、美阳投资、浙商银行、中邮 资管、德邦证券 时间 2025 年 2 月 14 日下午 地点 现场调研 上 市 公 司 接 待 人员姓名 董事会秘书 朱鸯鸯 投 资 者 关 系 活 动 主 要 内 容 介 绍 一、公司介绍 二、交流环节 1、公司近年业绩下滑的具体原因是什么？ 答：受市场环境等因素影响，下游客户在机器人领域的 投资及需求不及预期，项目交付节奏慢，且轨道交通、生态 环境等新业务板块尚处于商业化初期等因素影响，公司生产 经营承受一定的压力。但基于对未来人工智能、机器人在工 业领域发展的信心，公司依旧积 ...

Group 1: Business Performance and Outlook - In 2024, the company expects normal growth in orders and revenue across four major sectors: rail transit, automotive, construction, and shipping [1] - Significant revenue growth is anticipated from automotive sealing parts, vibration dampers, and container sealing parts [1] - The company aims to leverage its strengths in rubber product sealing and vibration damping to expand into new markets and products, particularly in the fields of new energy vehicles, energy storage, wind power, photovoltaics, and hydrogen energy [1] Group 2: Collaboration and Sales Projections - The subsidiary, Haida New Energy, signed a long-term procurement agreement with Longi Green Energy, with an expected procurement volume of 8GW from June 2025 to June 2027 [2] - The specific procurement quantities and prices will be determined by purchase orders, with total transaction amounts subject to final agreement [2] Group 3: Product Advantages and Customer Acceptance - The company developed a full-screen buckle short frame product to enhance safety and reliability, focusing on RAMS (Reliability, Availability, Maintainability, Safety) rather than just cost reduction [2] - The product features lightweight design, dust resistance, and superior static and dynamic load performance, which increases light exposure and thus enhances power generation, leading to positive customer recognition [2]

编号：2025-002 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 参与单位名 称及人员 天风证券、鹏华基金、海富通基金、大成基金、宏利基金、金鹰基金、 富安达基金、蜂巢基金、泰康资管、太平洋资管、财通证券、度量资本、 西部证券、华成投资、八阳资管、璞信产融、汐泰投资、工银安盛资管、 保银私募、江海证券、优益增投资、国联基金、德懿禾资管、中英人寿、 季胜投资、天治基金、贝莱德基金、玄卜投资、海通国际、玖鹏资管、 中银国际、西部利得、摩根士丹利、国都证券、正圆投资、天时开元基 金、广汇缘资管、观富资管、福泽源私募、健顺投资、沣杨资管、五地 私募、鼎萨投资、睿扬投资、亘泰投资、华泰资管、恒泰证券、砥俊资 管、清和泉资本、富敦投资、颐和久富投资、中再资管、长江证券、幂 加和私募、途灵资管、平安资管、德睿恒丰资管、神采资管、UBS Asset Management、UG Investment HK、中国人民养老保险、金融街资本运营 集团等线上参与的机构。 时间 2025 年 02 月 14 日（星期五）下午 16:00 地 ...