基础设计的硬件类产品布局很全面它在这个路网空网运营侧其实也是有很大的这个想象空间的那其实我们在这一波这个市场反弹里面公司其实涨幅并不多然后后面可以预期的催化其实也比较多包括低空的底层设计包括特务协同招投标的这个推进等等其实是值得这个长期关注甚至买入的然后我们今天其实也很荣幸邀请来了这个 先发的董秘石总来跟我们聊聊公司的情况然后也欢迎石总那要不石总先简单介绍一下公司近期的一些情况然后我们再QA感谢好的感谢方正的朋友是这样我首先我首先先把我们整个业务布局的考虑跟大家报告一下因为公司基本做的业务咱也都比较了解主要交通和安防两大块交通 今年一共总体收入接近八十个亿嘛交通差不多三十里安防五十个亿嘛基本上这么个比例结构那么今年的六月份开始那个车辆一体化的招标呢也看到这个规模比较大因为现在的这个服务自动驾驶嘛城市管理嘛只不过就最近这几个月吧大家从这个体感上来看的话有些招标呢感觉就是一个就推后了一个呢可能这个量呢没那么大所以呢这个呢这个事情呢我觉得包括我们跑这些地方吧跟最近这个中央化债 包括到明年年初很多地方开两会嘛他明年的一些预算怎么样去分配这个本级财政和国家的这些特别国债这个比例啊那么这次划占了可能对明年的预算他还是有一 ...

海外替换市场销量同比增加21.19%特别是半钢替换市场表现强烈大幅增长25.10%在毛利率方面前三季度国内成体毛利率呈现持续修复态势配套和替换市场同比均有3个BP左右的提升分别为14.49%和23.39%其中国内配套半钢毛利率达到35.33%的较高水平 海外整体毛利率依然保持高位稳定其中海外配套毛利率高达39.87%为四个板块中盈利能力最强的业务众所周知玲珑轮胎是一家集轮胎的研发制造和销售于一体的技术型轮胎生产企业经过多年的创新发展已经得到全球用户的广泛认可熟悉全球各大派系的审核要点技术水平管理水平及各项国际标准的把控能力均位居行业前列 公司自成立以来始终坚持配套带动零售的战略方向截至目前已为大众奥迪宝马通用福特本田日产等全球60多家主机厂的200多个生产基地提供配套服务实现了对中国德系欧系美系日系等全球重点车系的配套配套总量累计超过2.8亿条连续多年位居中国轮胎配套首位 近年来公司又围绕配套中高端品牌加中高端车型加中高端产品占比加快三个结构调整不但提升玲珑文胎的品牌影响力和示范效应增强全球配套盈利能力与此同时公司还借助全球新能源汽车行业快速发展的东风持续推进新能源配套业务的市场市场拓展 2024年前三季度公 ...

Key Points Industry/Company Involved - **Company**: S Company (specifically the robot project team within S Company) - **Industry**: Robotics, specifically humanoid and quadruped robots Core Views and Arguments - **Robot Project Initiation and Team**: S Company began its robot project in April 2024 with an initial team of 23 people. The project is a secret within the company and is managed by the Forward Research Department under Phoenix ZhiChuang Technology Co., Ltd. The total budget for the project is approximately 25 million yuan, with less than 5 million yuan spent by October 2024, excluding personnel wages. [1] - **Product Development**: The company aims to develop robots related to the automotive industry and factory labor. Four SKUs have been planned: D1 DOG (consumer-level), D10 (industrial-level), R1 (humanoid bipedal robot), and R100 (wheelchair humanoid robot). As of October 2024, two POCs of D1 and one each of D10 and R1 have been produced. [2] - **Production Goals**: The company aims to achieve mass production by June 2025. However, the specific production volume and timeline are not yet determined. The decision to mass produce was made without a clear market strategy or target user group. [6][7][8] - **Leadership and Decision-Making**: The project is led by the head of the Forward Research Department, who is a mid-level manager. The ultimate decision-making power lies with the company's headquarters. The specific individuals driving the project within the headquarters are not clear. [9][10] - **Competitive Landscape**: S Company's main competitive advantage lies in hardware and supplier integration, leveraging its experience in the automotive industry. However, the company faces competition from other domestic car manufacturers entering the robotics market, such as Xpeng and BYD. [18][19] - **Supplier and Partnership**: The company has started contacting domestic suppliers for robot components. The priority is to consider local suppliers, especially in the gas and machinery sector. The company has not yet formed any external partnerships. [20][21] - **AI and Big Model**: The company is working on AI and big model development but faces challenges in this area. They are exploring partnerships with other domestic companies for AI and big model development. [30][31][33] - **Cost and Pricing**: The estimated cost of the robot is between 5,000 and 10,000 yuan, with a suggested retail price of 10,000 to 15,000 yuan. The company plans to reduce costs by sourcing components internally or negotiating with suppliers. [26][27][28] Other Important Points - **Robot Performance**: The company's robot has achieved stable leg and hand control within six months. The company aims to achieve a high level of performance in these areas. [13][14] - **AI and Big Model Development**: The company is working on AI and big model development but faces challenges in this area. They are exploring partnerships with other domestic companies for AI and big model development. [30][31][33] - **Sensor and Component Selection**: The company is still considering the sensor and component selection for the robot. The final decision will be made before mass production. [38][39][40]

Summary of Conference Call Company and Industry - The conference call discusses a leading company in the commercial vehicle intelligence sector, which has shown recovery and growth since hitting a low in 2022. The company is positioned to benefit from European safety standards and increased intelligence in commercial vehicles over the next two to three years [1][2][3]. Key Points and Arguments Revenue Growth - Domestic revenue growth is slowing, while overseas performance remains strong, with nearly 50% growth. Domestic business is expected to remain stable in the next two to three years, focusing on freight and rental sectors [1][2]. - Domestic main business revenue for the first three quarters was approximately 470 million, with a year-on-year growth of less than 10%. In contrast, overseas revenue was about 950 million, with a year-on-year growth of nearly 48% [2][3]. Profit Margins - The company’s gross margin for domestic business is recovering, with a reported increase of over 2 percentage points in the first three quarters. However, the overall gross margin has declined by over 4 percentage points when including other business segments [4][5]. - The overseas gross margin has reached a historical high, while domestic margins are slowly improving due to strategic shifts towards value markets [5][6]. Strategic Shifts - The company is transitioning from a price-driven market to a value-driven market, which is expected to enhance gross margins over time. This shift includes focusing on freight, rental, and public transport sectors, as well as new product innovations in mining machinery and forklifts [3][4][5]. - The company plans to expand its overseas production capacity, particularly in Vietnam, to mitigate tariffs and production costs associated with the US-China trade tensions [8][9]. Regulatory Impact - The introduction of new EU regulations requiring specific safety features in commercial vehicles is expected to have a limited immediate impact on revenue but may open up new markets in the long term [11][12]. - The company is establishing relationships with local manufacturers in Europe to facilitate compliance with these regulations, although current contributions from this segment are minimal [11][12]. Market Opportunities - The global market for freight vehicles is substantial, with over 140 million units, indicating significant growth potential for the company. The company is focusing on expanding its presence in both domestic and international markets [17][18]. - The company is also exploring opportunities in innovative sectors such as mining and electric vehicles, which are expected to contribute to future growth [31][32]. Financial Outlook - The company aims to recover its historical net profit margin of around 15% within the next two to three years, with ongoing efforts to control costs and improve operational efficiency [23][24]. - The management emphasizes a dynamic approach to human resource planning to align personnel growth with business performance, avoiding past issues of overstaffing during downturns [27][28]. Other Important Content - The company is cautious about expanding into the passenger vehicle market, focusing instead on its strengths in commercial vehicles, while still exploring opportunities in electronic rearview mirrors for passenger vehicles [20][21]. - Future strategic planning will include a renewed three-year white paper to outline business opportunities and focus areas, particularly in overseas markets [30][31]. This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting the company's recovery trajectory, market opportunities, and financial outlook.

希望投资者关注今天的汇报我想分为主要分为两个部分第一个部分是还是先简单的整体介绍一下我们对于有色行业的看法来以此引出我们当前事件去推荐旅版块包括推荐天山的这样一个逻辑然后第二部分就是对天山旅业还有旅行业做一个系统的介绍首先对于有色行业 我们在下周刚好有年度的策略会我们也发布了我们2025年的这样一个展望题目叫做拨云见日我们是认为有些行业在2025年有望摆脱基本面比较弱以及政策预期比较摇摆的这样一个纠集的状态迎来整个下个一个上行优质的这些矿企的成长性会有凸显 今天也是看到美国大选基本落地从有色的需求来看我们认为国内外的积极的财政政策包括货币政策共同的这样一个作用下有色行业的需求会逐渐的起往回升特别是在下游比较低的这样一个库存的水平的背景下是有望推动一轮新的系统性的一个复库的贡献在这边 说的比较长一点就是过去十年资本开支的不足包括最近几年地缘政治的风险的持续的攀升对于整个有色的全球的供应的压制和扰动是持续存在的这也使得2025年有色金属价格的整体的中枢还是继续有望上行当然我们也要看到美国的这种经济的韧性包括江西建成的这种波折以及国内外整个红外政策的这种 不确定性也会加大我们整个金属行业的一个价格的波动所以在这种背 ...

就是还有一个原因应该是说最近这个大触的活动比较多所以的话就是这些的一些需求也在起来至于你说这个后续的一个持续性的这个其实不管是哪个行业它总是有一波行情或者有长有短然后今年表现比较好就还是以家电的为主 啊明白好的好的呃然后汽车这块其实呃之前是说可能三季度以来会比下半年会比上半年更好一点就是现在其实看下来整个区域还是相对来说比较平稳是吧呃今年汽车相对比较平稳明白好的好的呃然后就是在在就这个先就这个住宿机这块的一个具体的情况再跟您呃具体请教一下就是说首先 那个三级路情况我这边就不再继续追问了就是如果各位领导感兴趣的话也可以看一下这个三级报交流的一个情况我就不再追问这些具体数据了就是主要是想细拆一下就比如说可能就是我们还没有披露的这个比如说像今年的销售里面比如说三板机还有两板机的一个大致的一个占比然后包括液压和全电动的这块的一个占比就是想看一下细分品类的一些具体的情况 如果是三板机跟二板机相比起来今年应该总体来说三板机的一个增速也不是增速相对三板机还是会销售会更快一点因为今年是比较好的一些行业都是以一些以中小机型为主的一些行业所以三板机的一个增速会比二板机要稍微更快一点点 然后从液压跟全电的比较起来呢今年其实全面的一 ...

本节目的主题是《大约小国》,环游叛争、财政分散、资产铺面与影响政策,导演与导师的三期演习分辨会。 二月二十年前三十五公子严实给七小小和五六小小交接了以经历专业对流水流规划训练得的是抓蛮拳、讲宋态、气质量、处学生的优劣模式实际上在用陈禅、小宋年华一级化的关乎劝育之母发酵 战争发生2024年,战争内部报告一类常态政权条例召妄战及相关资讯披露、媒体发布战争发生2024年,前战机组四县应验审讨14.87亿元封闭下架4.38%四县委屈少数公正,不同经理人处理一件媒体议案封闭下架 北平省哈尔滨市间湖流,为远离社会不同及双方互分者更加深入,全面地了解同志和领导人家的意图演绎和生产阴影的情况。 我们的Cutoff的三个演习方面会与主持者进行交流活动在持续许诺允许的范围内对主持者普遍反复的演习进行应答希望通过这次的交流活动能够让大家更加全面与严谨地了解我们的情况感谢大家 担大任者为新材料行业肩负使命而自强担大任者为新动能重构能源格局而拼搏担大任者为新时代材料强国梦想而奋进 世界光彩源于创造剩业专攻缔造美好专业成就品质创新成就未来乘时代之召唤我们应运而生 当今世界科技力量推动材料变革作为无机非金属材料的玻璃纤维其卓越的性能和广泛 ...

Key Points Company Overview 1. **Reflective Film Stability**: The company's reflective film business is stable with an annual growth rate of 5-10%. It has entered the supply chain of A Company and is expected to switch entirely to the company's products within three years. The market share exceeds 60%, with a gross margin of 36% and an expected annual net profit of 200 million yuan [1]. 2. **Optical Base Film**: The market is currently oversupplied, with domestic capacity concentrated in low-end products. The company has a capacity of 200 million tons with revenue of 2 billion yuan. The company intends to shift towards OCA release film and brightening film. Profits are expected to turn positive by the end of the fourth quarter, although there may still be losses for the full year. The new high-end base film production line in Hefei is expected to start production in the first quarter of next year, leading to a structural upgrade. The company plans to control production to two lines and will not expand further [2]. 3. **Battery Dry Separator**: The company began supplying to BYD in March and will start mass production in July. It secured a 5.6 billion square meter order in the first half of the year, with monthly production of 10 million square meters from the third quarter and 15 million square meters from the fourth quarter. Due to the need for re-validation at BYD's new production base, the company experienced significant losses in the first half of the year, but is expected to reach full production in the fourth quarter. The company's capacity is maintained at around 650 million square meters and will not expand further. The company has the lowest cost in the industry and can achieve profitability, but faces intense competition [3]. 4. **Photovoltaic**: The company invested 200 million yuan in photovoltaic film equipment, resulting in several million yuan in losses this year. Production will be abandoned next year [4]. 5. **Semi-solid and Solid Separator**: The company's semi-solid and solid separators meet downstream requirements for compressibility, pore size, and porosity, offering significant advantages over competitors. The company has self-developed equipment and separate production lines, creating a clear barrier to entry. Most battery companies, including CATL, Panasonic, BYD, and GEMFAM, have validated the company's products, with some providing small-scale supply. CATL and Xingyuan have not yet passed validation. Production is expected to increase significantly in the second half of next year, with a projected 160 million square meters of demand due to the 60 billion yuan national subsidy project for battery projects in 2027. The company currently has a production line in Hefei with a capacity of 4-5 million square meters, priced at 4-5 yuan per square meter, with a gross margin of over 60%. The company plans to expand production next year, with an expansion cycle of 8-9 months [5]. 6. **CPI Film**: Currently, only one company in South Korea, Kolon, can produce CPI film. The company's products have been certified by Hui Xing (a Kolon downstream company located next to Changyang) and BOE. The company aims to obtain Huawei's certification by the end of the year. A 500,000 square meter production line is expected to be completed in the second quarter of next year, corresponding to approximately 20-30 million phones. The company plans to build another line in the second half of next year. The current terminal price of Kolon's CPI film is approximately 150 USD per square meter, with a revenue of about 1 billion yuan for 100 million square meters. The company expects demand from domestic foldable screen manufacturers to increase significantly next year, pending the completion of the new production line [6]. Industry Trends 1. **Reflective Film Market**: The reflective film market is stable with a moderate growth rate, and the company holds a significant market share [1]. 2. **Optical Base Film Market**: The market is currently oversupplied, with domestic capacity concentrated in low-end products. The company plans to shift towards higher-value products and expects to turn profitable in the near future [2]. 3. **Battery Separator Market**: The battery separator market is highly competitive, with the company achieving cost advantages and securing significant orders from leading battery manufacturers [3]. 4. **Photovoltaic Market**: The company plans to abandon its photovoltaic film business due to losses [4]. 5. **Semi-solid and Solid Separator Market**: The market for semi-solid and solid separators is expected to grow significantly in the near future, driven by increasing demand from battery manufacturers and government subsidies [5]. 6. **CPI Film Market**: The CPI film market is currently dominated by Kolon, but the company is expected to gain a significant share of the market due to its competitive products and certifications from leading manufacturers [6].

各位投资者大家晚上好我是中金基线研究员郭微秀欢迎大家今天参加我们在本周组织的川宇基前链的系列的电话会议那么今天我们非常的荣幸的邀请到了川基前也就是四川福德基前的董事长胡总来为大家介绍更新2024年以来公司的变化当然了我们其实可以从月度公司的一个报表上也能够看到 而公司呢在今年2024年非常明显的邪波检测器的一个市场认可度还是有非常显著的提升所以的话呢目前在9月份和10月份邪波检测器的月度的图环比的数据都有非常不错的表现并且呢在这个公开披露的前5大客户里面我们也能够看到这个国内比较知名的做人形进行的一体化关节EU也是出现在了公司的前两名客户的名单中 所以我们本次的话就非常荣幸的邀请胡总来为大家介绍公司的情况我们首先先把时间交给胡总也邀请投资者可以现要采用金门财经网络端来观看信息尊敬的郭总尊敬的中金的各位老师尊敬的各位投资者的朋友大家能听到吗 好的是非常清楚的啊好的好的好的非常感谢大家能够耽误大家的这个休息的时间给大家做一个简单的一个分享那我还是简单介绍一下我们公司吧公司是在12年成立但这个创始团队的话是在04年参加这个机器人比赛然后到现在一直做了20多年的机器人然后 这张照片的第三个就是我当时是参加全国大学生竞 ...

各位投资人大家下午好欢迎大家参加浙商计算机组织的这一次合成科技深度报告的录影我们昨天晚上是把合成科技立为我们计算机的重大推荐这里边也有非常多的原因但是我想重点强调一个就是在现在的这种海外 美国大选局势不稳定的情况下无论最后结果如何自主可控 清矿 国产期待这条线肯定是不会被动摇的这里面占据的基础软硬件绝对优势地位的这些中国的上市公司肯定在未来的产业发展和政策推动下是有很好的市场空间的所以在沿着这条线 我们是重点在10月27日我们是将新创列为了一个重点推荐的方向这个其实也是结合未来可能内需这一端会更加侧重然后新创绝对是内需消化的一个最重要的一个环节之一然后另一方面也是因为整个的大安全的重要性越来越强 那信号在整个国家安全网安全上也是不可忽视的一部分那在整个的供应链的运行上来讲像工业半信号里面的工业软件的这些基础工具软件也是非常重要的这个环节目前的国产期待率还是非常低的 所以在这样的一个大背景下呀我们是首推了信创这个整体赛道那在这个信创里边呢它可以分为两部分一部分呢就是最基础的这个软件比如说像经商办公中国软件海光信息台积股份达峰数据等这些基础的软件产品然后另一类呢其实就是一个干信创领域里边的比如说像工业软件里的索诚 ...