证券代码：【301392】 证券简称：【汇成真空】 编号：【IR-2026001】 投资者关系活动记录表 | 投资者关系活动类别 | 分析师会议 特定对象调研 ☐ | | | --- | --- | --- | | ☐ | 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 | 详见附件清单 | | | 时间 | 2026年1月20日 15:00-16:30 | | | 地点 | 广东汇成真空科技股份有限公司会议室 | | | 上市公司接待人员姓名 | 副总经理、董事会秘书 肖献伟先生 | | | | 证券事务代表 刘珊女士 | | | | 公司在遵守信息披露相关规定的前提下与投资者进行交流，交 | | | 投资者关系活动主要内容 | 流内容不涉及未披露的重大信息。具体交流内容如下： | | | | 第一部分：公司情况介绍 | | | 介绍 | 第二部分：交流环节 | | | | 1.公司产品目前主要应用于哪些领域 | | | | 答：公司主要产品为真空镀膜设备以及配套的 ...

Group 1: Overseas Business and Market Coverage - The company's export sales network covers key markets in Asia and Europe, including South Korea, Thailand, Taiwan, France, and Germany [2] Group 2: Profit Margin and Production Efficiency - There is still room for improvement in the gross margin of network transformers, driven by automation, product structure optimization, and enhanced production efficiency [2] - The company aims to increase the proportion of mid-to-high-end network transformers, which typically have higher profit margins, thereby improving overall gross margin [2] - The release of production capacity from the Bay Area headquarters will support business growth and meet market demand [2] Group 3: Competitive Advantage in Signal Magnetic Components - The competitive advantage in signal magnetic components stems from technology accumulation, product line layout, and customer relationships [3] - The company has achieved international standards in high-end products, with significant improvements in performance for applications in 2.5G, 5G, and 10G, gaining recognition from well-known domestic and international clients [3] - The introduction of cost-effective chip inductors for mid-to-low-end market segments has expanded market share and strengthened long-term customer relationships [3]

Group 1: Company Overview and Services - Guoneng Rixin Technology Co., Ltd. is actively expanding its power prediction services for renewable energy stations, with a target of serving 5,461 stations by mid-2025 [2][4] - The company provides power trading management services for independent energy storage stations, leveraging market prediction systems and pricing strategies to optimize operations [3][4] Group 2: Core Advantages in Power Trading - The company possesses significant advantages in power trading for independent storage stations, including decision-making support, precise intelligent control, and comprehensive operational assurance [4] - It utilizes a self-developed "Kuangming" model and advanced AI algorithms to enhance prediction accuracy for energy output, load, and pricing [4][5] Group 3: Challenges in the Electricity Market - Electricity companies face increased volatility and regulatory challenges, necessitating advanced trading capabilities and operational precision [5][6] - The traditional fixed-price operation model is becoming unsustainable due to intensified competition and technological stagnation among smaller electricity companies [5][6] Group 4: Impact of Policy Changes - The cancellation of fixed time-of-use pricing by the National Development and Reform Commission will fundamentally alter the profitability model for energy storage stations, shifting from fixed price arbitrage to market-driven pricing [7] - This policy change is expected to increase the demand for professional third-party management services in the energy storage market [7] Group 5: Future Market Potential - The ongoing reform of the electricity market is expected to create significant demand for trading decision support and management services, particularly as trading complexities increase [8][9] - The company aims to capitalize on these market opportunities by expanding its offerings to include trading prediction data, strategy recommendations, and management services for a broader range of clients [8][9]

Group 1: Company Performance - The company has achieved continuous growth for nine consecutive quarters, driven by a successful transition from a single downstream field to multiple application scenarios, contributing to revenue growth since 2023 [3] - The PCB business has significantly contributed to performance, with nearly CNY 90 million in orders for PCB forming equipment and the first order for ultra-fast laser drilling equipment received [3][4] Group 2: PCB Equipment Development - The ultra-fast laser forming equipment has gained recognition from strategic customers, leading to the successful delivery of nearly CNY 90 million in orders in 2025 [4] - The ultra-precision drilling equipment, launched last year, features superior performance with hole diameters of 30-70 microns, a speed of 10,000 holes per second, and precision of less than ±10 microns, resulting in the first order from IC substrate customers [5] Group 3: Consumer Electronics Business - The company is focusing on "new products, new materials, and new processes" to seize structural growth opportunities in the recovering industry, developing laser solutions for various components such as acoustic devices, microcrystalline glass, foldable screens, WLG lenses, and VC cooling [6] Group 4: R&D and Innovation - The company employs a forward R&D model based on understanding the interaction of light and materials, optimizing laser systems for various applications, and addressing industry pain points through simulation and customization [7] Group 5: Market Value Management - The company emphasizes "solid foundation and strong base" to ensure sustainable development through innovation, effectively communicating its fundamentals and sharing growth results with investors [8]

Group 1: Strategic Development - The company has established a "Three Transformations and One Optimization" strategy, focusing on the mining aftermarket with a core emphasis on equipment manufacturing and technology processes, supported by service and resource development as wings [2][3] - Future plans include transforming aftermarket services into the main revenue source, enhancing business upgrades and expansions through digital and intelligent integration [2][3] Group 2: Aftermarket Business Model - The core model of the aftermarket business includes parts sales and operational maintenance, with high gross margins achieved through a "technology solution + customized parts" approach [3][4] - The company aims to leverage overseas service networks and storage systems to promote service and spare parts sales, ultimately driving main engine sales [3][4] Group 3: Mining Investment Strategy - The company focuses on gold and copper mining investments, prioritizing small to medium-sized mines with proven profitability, avoiding high-risk projects [4][5] - Risk control measures include external due diligence and legal assessments, with ongoing projects like the Brownhill gold mine in Zimbabwe progressing smoothly [4][5] Group 4: Funding and Talent Development - Current funding strategies rely on bank loans, with future financing plans aligned with business development needs to support project investments [5][6] - Talent acquisition strategies include recruiting experienced professionals, campus recruitment, and internal training, with a focus on mining-related expertise to address industry talent shortages [5][6] Group 5: Competitive Landscape - The operational maintenance market is competitive, but the company differentiates itself through a comprehensive service system, global marketing network, and digital maintenance capabilities [6][7] - The company plans to implement a stock incentive program to attract and retain core talent, enhancing employee motivation and aligning interests with business growth [7][8]

Group 1: Company Performance Overview - The company did not meet its sales revenue budget for 2025 due to the cancellation of significant contracts in Brazil and Argentina, influenced by rising credit risks [5][6] - The gross margin for Q4 2025 exceeded 25%, marking the highest quarterly gross margin in the past decade, with an annual increase of over 3 percentage points compared to 2024 [5][8] - The total expenses as a percentage of sales slightly decreased compared to 2024, ending the upward trend seen in the previous two years [5][10] Group 2: Market Risks and Projections - Credit risks in Brazil and Argentina are expected to remain high in 2026, potentially impacting sales revenue growth [6][7] - The company anticipates a higher sales revenue growth rate in 2026 compared to 2025, driven by new product registrations and team expansions in Brazil [7][8] - The company aims to maintain a gross margin higher than 2025 due to strategic planning and product registration efforts [10][11] Group 3: Financial Management and Cost Control - The company plans to keep the total expense ratio stable while reducing management expenses and increasing sales and R&D expenses [10][11] - Asset impairment provisions for 2024 and 2025 are estimated at approximately 200 million, reflecting challenges in accounts receivable risk management [13][14] - The company aims to reduce asset impairment provisions to below 0.5% by the end of 2029 [13][14] Group 4: International Trade and Product Pricing - China's agricultural pesticide exports remain strong, attributed to the competitive pricing of Chinese products, with no significant inventory buildup reported globally [15][16] - The cancellation of export tax rebates for certain raw pesticide products is expected to benefit the export of finished pesticide formulations [15][16] - Current raw pesticide prices are at historical lows, with uncertain timing for potential price rebounds [15][16] Group 5: Operational Developments - The U.S. manufacturing facilities are operating at full capacity, supporting business growth in the region [18][19] - The company plans to establish a new processing facility in the U.S. by 2027 to enhance production capabilities [18][19]

| 动力系统、车门系统、天窗系统、电子系统、内饰系统、座 | | --- | | 椅系统等，向客户提供一站式的汽车零部件解决方案。公司 | | 拥有自主模具研发能力。公司主要生产工艺覆盖冲压、热成 | | 型冲压、机器人点焊、机器人气保焊、激光焊接、嵌件注塑、 | | 激光切割、一体化压铸及其他装配等生产工艺。 | | 公司与吉利汽车、长安汽车、长安福特、理想汽车、赛 | | 力斯、比亚迪、小鹏汽车、零跑汽车、蒂森克虏伯集团、伟 | | 巴斯特集团、麦格纳集团、凯毅德集团等国内外知名整车制 | | 造商和汽车零部件厂商建立了良好的合作关系，并形成战略 | | 合作。 | | 目前，公司在全国的子公司主要为以下 家： 16 | | 1. 重庆博俊工业科技有限公司，2017 年注册成立 | | 2. 成都博俊科技有限公司，2017 年注册成立 | | 年注册成立 3. 常州博俊科技有限公司，2021 | | 西安博俊汽车零部件有限公司，2022 年注册成立 4. | | 浙江博俊工业科技有限公司，2022 年注册成立 5. | | 6. 济南博俊汽车零部件有限公司，2022 年注册成立 | | 7. 河北博俊科技 ...

Group 1: Credit and Deposit Management - The bank has achieved a good start in credit issuance for 2026, with early preparations ensuring efficient project approvals [1] - The bank aims to continue expanding its credit market share to support stable growth in annual credit scale [1] - In 2025, the bank improved deposit interest costs by optimizing deposit structure and will continue to innovate deposit products in 2026 [1] Group 2: Asset Quality and Risk Management - The bank is enhancing its comprehensive risk management system to maintain stable asset quality throughout the year [2] - Continuous monitoring and adjustment of credit policies and approval strategies are in place to prevent and mitigate risks [2] - The bank strives to keep asset quality steady by improving tracking and inspection frequency across various business lines [2] Group 3: Investor Relations and Compliance - The meeting involved thorough communication between the bank's representatives and investors, adhering to disclosure regulations [2] - No significant undisclosed information was leaked during the reception process [2]

浙江洁美电子科技股份有限公司投资者关系活动记录表 编号：20260116 | | | ☑特定对象调研 □媒体采访 | | | | | | □分析师会议 □业绩说明会 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 投资者关系 | | | | | | | | | | | | | □新闻发布会 | | | | | | □路演活动 | | | 活动类别 | | □现场参观 | | | | | | | | | | | ☑其他（电话会议） | | | | | | | | | 参与单位名称 | | 山西证券 | | | | | | | | | 时 | 间 | 2026 年 至 17:20 | 1 | 月 | 16 | 日下午 | 16:20 | | | | 地 | 点 | 浙江省杭州市拱墅区大关路 100 | | | | | | 号绿地中央广场 | 10 幢 24 层会议室 | | 上市公司接待 | | 董事、副总经理、董事会秘书：张君刚 | | | | | | | | | 人员姓名 | | 投资者关系助理：李彦霖 | | | | | ...

|  投资者关系 | 特定对象调研 □分析师会议 □媒体采访 | | --- | --- | | 活动类别 | □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） | | | Ai-Squared Management Limited Channing Li，Aspex Management | | | (HK) Limited Lewis Yang，Aspoon Capital Limited Tony Wang， | | | Broad Peak Investment Advisers PTE Ltd Amy Xiong，CPPIB Vennie | | | Kang，DE Shaw & Co LP Yongyan Zhu，Everflow Investment Management | | | Limited Richard Lu，ForwardEdge Investment Limited Patrick Huo， | | | HSBC Global Asset Management (HongKong) Limited Caroline | | 参与 ...