Financial Performance - As of September 30, 2025, the company's net profit attributable to shareholders, excluding non-recurring gains and losses, was -23.02 million CNY, an increase of 79.22% compared to the same period last year [2] - R&D investment reached 246 million CNY, accounting for 16.33% of total revenue [3] - Revenue from chip and data services was 471 million CNY, a year-on-year increase of 71.80% [4] Business Strategy - The company has focused on core business since 2020, divesting from non-core automotive electronics to enhance its primary operations [2] - Plans to increase overseas revenue to 50% within 5-8 years, leveraging competitive advantages in performance and pricing [5] Market Position - The market share of high-precision positioning chips exceeds 60% in major domestic segments, with a 28% year-on-year revenue growth [4] - The company is actively engaged in low-altitude economy sectors, benefiting from the rise of flying cars and drones [6] Product Development - TruePoint Technology has launched centimeter-level NRTK services for various sectors, including surveying and agriculture, and is expanding overseas [7] - The company maintains close collaborations with leading clients in the robotic lawnmower market, driving performance growth [9]

Group 1: Industry Outlook - The Chinese liquor industry is undergoing a new adjustment cycle, shifting from "capacity expansion" to "quality improvement, brand influence, cultural expression, and value creation" [2] - Consumer preferences are evolving from "quantity satisfaction" to "quality pursuit," with a focus on product value and brand connotation [2] - Young consumers prefer personalized, lower-alcohol, and enjoyable drinking experiences, along with "light social" scenarios [2] Group 2: Market Strategies - The company is implementing a long-term strategy for market cultivation, focusing on consumer service and sustainable growth in lower-tier markets [2] - Continuous product innovation is prioritized, with a focus on developing 38° products and promoting new drinking methods [3] - The company is reinforcing its core product lines, shifting resources towards mid-to-high-end products and exploring the light bottle liquor segment [3] Group 3: Channel and Marketing - The company is enhancing its digital marketing system to improve the precision of marketing expenditures and increase cost-effectiveness [3] - A comprehensive online and offline marketing network is being established to strengthen direct consumer engagement [3] - The company aims to maintain a balanced pricing strategy across different product tiers to ensure channel health and profitability [3] Group 4: Financial Performance - The company reported stable pricing for its flagship product, Guojiao 1573, maintaining its position in the high-end liquor market [3] - The company’s regional performance is synchronized with overall corporate health, particularly in Southwest, North China, and East China markets [3] - Future marketing expenditures will focus on brand building and consumer engagement while maintaining a reasonable expense ratio [3]

Group 1: Company Performance and Market Position - The company's third-quarter performance declined year-on-year due to project construction delays, affecting revenue recognition [3] - The nuclear ventilation sector is experiencing a positive development phase, with the company holding a high market share [3] - The supply of ventilation products for subways and tunnels is linked to national urbanization and major infrastructure planning [3] Group 2: Product Applications and Innovations - Ventilation equipment is crucial for safety and comfort, with potential applications in controlled nuclear fusion projects [4] - 3D printing technology offers advantages over traditional manufacturing, including high precision, material savings, and design flexibility [5] - The company focuses on providing customized solutions based on client needs, engaging in discussions with clients in various sectors [5][6] Group 3: Future Plans and Financing - Currently, there are no stock incentive plans, but the company will consider them based on strategic needs and market conditions [5] - South Wind Additive is executing expansion plans and has no immediate financing needs, with future financing options to be considered based on market and order conditions [6]

Group 1: Company Overview and Market Strategy - The company focuses on developing overseas markets, aiming for a 50% share in both domestic and international markets [2] - Key overseas markets include North America, the Middle East, Russian-speaking regions, and North Africa [2] - Products are exported primarily through domestic oil and gas engineering service companies and direct sales to overseas clients [2] Group 2: Financial Performance and Growth Drivers - The company has experienced stable revenue and profit growth, attributed to the implementation of the national energy security plan, increasing domestic oil and gas equivalent from 160 million tons to approximately 200 million tons [3] - Growth is also driven by the rise in drilling workload and large-scale development of unconventional natural gas [3] - New market expansions and successful sales of new products, such as oil and gas enhancement services and high-pressure acid fracturing hoses, have contributed to revenue and profit increases [3] Group 3: Market Insights and Future Prospects - The Middle East is viewed as a key market, with the company gradually entering through partnerships and industry exhibitions, despite higher market entry barriers [4] - The company has already achieved bulk deliveries of some products in the Middle East and anticipates rapid growth due to product quality and service capabilities [4] - The company's products and services are also applicable in new energy sectors, including geothermal energy and coalbed methane [5]

Group 1: Diamond Heat Dissipation Business - The company began its diamond functionalization application layout in 2015, focusing on MPCVD technology to produce heat sinks and optical window pieces, with revenue starting in 2023 primarily from non-civilian sectors [2] - The expected sales revenue from diamond heat dissipation products is projected to exceed 10 million yuan this year, all from non-civilian applications [2] Group 2: Wind Power Bearing Business - The wind power bearing business has seen strong growth this year, driven by downstream demand, with local production of yaw and pitch bearings already achieved [2] - The domestic market share for wind turbine main shaft bearings and gearbox bearings is gradually increasing as domestic replacements are being promoted [2] Group 3: Precision Machine Tool Bearings - The company aims to enter the top tier of the domestic market for precision machine tool bearings, which are currently dominated by foreign brands [3] - The focus for the next two to three years will be on R&D to enhance product performance before expanding into high-end markets [3] Group 4: Robotics Bearings - Robotics bearings have been included in the company's "14th Five-Year Plan," with a future focus on high-value-added products such as crossed roller bearings, thin-walled bearings, and angular contact bearings [3]

Group 1: Major Asset Restructuring - In 2025, the company completed significant asset restructuring, including the sale of all instrumentation and related assets by the end of May 2025 [2] - By the end of September 2025, the company acquired 51% equity in Zijiang New Materials, shifting its business focus to aluminum-plastic film and automotive inspection tools [2] Group 2: Financial Performance Indicators - The third-quarter financial report for 2025 showed substantial year-on-year growth in revenue and profit due to the retrospective adjustments from the asset restructuring [2] - The disposal of the instrumentation asset group resulted in a non-recurring gain of approximately 221.22 million yuan, significantly impacting the financial results [2] Group 3: Industry Insights - Discussion on the current status and future prospects of the solid-state battery industry, highlighting safety advantages and the application of aluminum-plastic films [3] - Exploration of semi-solid batteries and their market significance [3]

证券代码：300040 证券简称：九洲集团 哈尔滨九洲集团股份有限公司 投资者关系活动记录表 编号：2025-008 | 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 | （ ） | | 参与单位名称及 | 陶贻功-银河证券 | | 人员姓名 | | | 周涛-华金证券 | | | | 王欢-国泰海通证券营业部 | | 杨丹-银华基金 | | | 王鹏-风炎投资 | | | | 牛永涛-北京弘君私募基金 | | 时间 2025 年 | 10 月 28 日 | | 地点 北京 | | | 上市公司参与人 | 投资者关系经理-李浩轩 | | 员姓名 | 一、公司情况介绍 | | | 九洲集团创立于 | | | 1993 年，始终专注于智能配电网和网络能源领 | | | 域，是领先的新型电力和能源基础设施提供商。公司是国家重点高新 | | 技术企业，于 | 2010 年在中国创业板成功上市（股票代码：300040）。 | | 投资者关系活动 | 九洲集 ...

京东方科技集团股份有限公司 投资者关系活动记录表 编号：2025-026 | 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 电话会议 | | 参与单位名称 | 参会投资机构 108 家，名单详见附件 | | 时间 | 2025 年 10 月 31 日 | | 地点 | 电话会议 | | 上市公司接待人员姓名 | 郭 红 副总裁、董事会秘书 | | | VCFO 孟 超 | | | 罗文捷 证券事务代表 | | | 讨论的主要内容： | | | 一、行业及市场概况 | | | LCD 方面，根据咨询机构预测，2025 年总出货量与面积均 | | | 有望同比小幅增长。 | | 投资者关系活动主要内 | 从应用别来看，TV 产品出货量、出货面积均有望实现增 | | 容介绍 | 长，但受新兴市场需求带动中小尺寸 TV 产品出货量提升影响， | | | 大尺寸化趋势阶段性放缓。IT 方面，受换机需求带动，NB、TPC | | | 产品出货量有望实现较快增长，MN ...

| | √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 | | 参与单位名称及人 | 华源证券：戴铭余、唐志玮。 | | 员姓名 | | | 时间 | 2025 年 10 月 31 日 | | 地点 | 公司 | | 上市公司接待人员 | 谭梅、章佳佳、陈银琼 | | 姓名 | | | | 1、请问公司如何看待后续零售业务的需求情况？ | | | 答：公司零售业务的消费属性相对较强，其需求与经济景气度、消费信心的关 | | | 联度更大。目前刚性需求受到的影响不是很大，改善性需求仍被持续抑制，如果后 | | | 续经济景气度回升，相信改善性需求会逐步释放出来。 | | | 2、今年外部需求较弱、价格战愈发激烈，请问公司的竞争策略是什么？ | | | 答：面对当下市场环境，公司认为产品降价不是提升产品销售的最好选择，品 | | | 牌形象、品牌价值与内涵更为重要，因此今年公司更加强调"三高"定位和"共赢" | | 投资者关系活动主 | 理念，并努力通过产品力和服务力的提升给 ...

证券代码：002959 证券简称：小熊电器 小熊电器股份有限公司投资者关系活动记录表 编号：2025-005 | | □特定对象调研 分析师会议 | | --- | --- | | □媒体采访 | □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（请文字说明其他活动内容） 电话会议 | | 参与单位名 | 中信证券、国信证券、兴业证券、招商证券、天风证券、银华基金等 | | 称及人员 46 | 方接入电话会议 | | 时间 2025 | 年 10 月 31 日 | | 地点 公司会议室 | | | 形式 电话会议 | | | | 副总经理、董事会秘书宋钦先生 | | 接待人员 | 财务总监陈敏女士 | | 姓名 IR | 吴泽旗先生 | | | 问：公司 2025 年三季度分品类的增长情况？ | | | 答：公司前三季度通过内部的积极调整，实现较好的业绩增长。 | | Q3 | 销售表现较好的品类中，锅煲类、壶类、电动类、母婴类等品类 | | | 增速比较亮眼。公司积极引导产品结构提升，产品量价、及毛利率均 | | 交流内容及 实现提升。 ...