Group 1: Investor Relations Activity - The investor relations activity involved specific targeted research with participation from various fund management companies and securities firms [2][3]. - The meeting was held online on a Thursday morning, with a duration of 50 minutes [2]. Group 2: Employee Stock Ownership Plan - The company disclosed a draft for an employee stock ownership plan aiming to raise a total of CNY 33.608 million, involving directors, senior management, and core employees [3]. - The performance assessment period for the plan is set from 2026 to 2028, with specific revenue and profit targets: - Revenue targets: CNY 1 billion in 2026, CNY 1.5 billion in 2027, and CNY 2 billion in 2028 - Profit targets: CNY 300 million in 2026, CNY 500 million in 2027, and CNY 800 million in 2028 [3][4]. Group 3: Product Development and Market Strategy - The company has several core products expected to be approved or submitted for approval, including "Aitinglie" and "Lidocaine" aerosol, with anticipated revenue growth from existing products and new approvals [4][5]. - The company is actively promoting the "Hewei Zhengchang Wan" product through various media channels and expanding its sales through clinics and online platforms [5][8]. - The company plans to enhance brand promotion and has established a dedicated team for third-party channels, focusing on clinics and internet hospitals [8]. Group 4: Alzheimer's Disease Research - The company is developing CKBA for Alzheimer's disease, which has shown promising results in animal models, including cognitive improvement and reduced neuroinflammation [6][7]. - CKBA's mechanism targets MFE-2, a key enzyme in lipid metabolism, which is crucial for maintaining the homeostasis of microglial cells [7]. Group 5: Clinical Trials and Market Potential - The company is prioritizing the registration of treatments for pediatric vitiligo and rosacea, with rosacea expected to progress faster due to a shorter treatment cycle [9][10]. - The domestic market for pediatric vitiligo is significant, with no existing treatments approved by the FDA, indicating potential for market expansion [11]. Group 6: Forward-Looking Statements - The report includes forward-looking statements regarding future plans and performance forecasts, emphasizing the need for investors to recognize associated risks [11].

Group 1: Investor Relations Activity - The event was a site visit conducted on January 28, 2026 [1] - Participants included institutional investors from CITIC Securities and Southern Fund [1] - The meeting was hosted by the Vice President and Secretary of the Board, Mr. Zhang Qiqiang, and the Investor Relations Manager, Mr. Zhang Jian [1] Group 2: Discussion Topics - Investors engaged in discussions regarding the company's production and operational status [1] - Future development plans and strategic direction were key points of communication [1] - Detailed records of the investor meeting are available in the attached document [1]

Group 1: Company Overview and Strategy - The company has established significant product competitiveness and brand influence in the nuclear power sector, with over 150,000 nuclear valves in operation and a market share exceeding 90% for core products like nuclear butterfly and ball valves [3] - The company emphasizes a healthy competitive landscape characterized by complementary advantages and mutual development among peers in the nuclear power industry [3] - The company is committed to continuous investment in R&D to advance its product offerings and maintain its leading position in the market [9] Group 2: Product Lifecycle and Maintenance - Although nuclear valves have a design lifespan of up to 60 years, regular maintenance and replacement of key components are necessary due to harsh operating conditions [4][5] - The company implements preventive maintenance strategies to ensure the reliable operation of valves exposed to severe environments, such as seawater systems [4] Group 3: Expansion into New Markets - The company’s subsidiary, Jiangsu Shentong Nuclear Energy Equipment Co., is actively engaged in developing valves for nuclear fusion applications, currently working on a project for the China National Nuclear Corporation [6] - The subsidiary Shentong Semiconductor Technology is producing vacuum valves and process gas valves for industries like integrated circuits and photovoltaics, with products already validated and ready for mass production [7] - The company has established partnerships in the aerospace sector, supplying valves for satellite electric propulsion systems and rocket components [8] Group 4: Future Product Development - The company has developed a comprehensive product matrix that includes various high-quality nuclear valves and is focused on continuous product iteration and technological advancement [9] - Resources are being allocated to accelerate the development of cutting-edge valve products, aiming to provide more complete and leading-edge solutions to the market [9]

证券代码：002320 证券简称：海峡股份 海南海峡航运股份有限公司 服务获取码头运营收入，同时借助西沙旅游航线开发特色产品提升整体收 益。 问：海安线目前如何调节运力？新增船舶投放是否有限制？ 答：海安线原则上不再新增航运企业，现有客滚船舶实行"以新换旧"， 通过大型化、高抗风等级、高车位/客位的新船更新投入及提升运转效率来 扩大运力，目前在建2艘客滚船；运输新能源的平板货船不受新增数量限制， 2026年春运将新投入2艘平板货船。 问：海南自贸港封关运作对海峡股份业务流程有哪些改变 答：进岛车辆及旅客流程没有变化。出岛方面，旅客凭身份证等有效 证件，通过智能闸机"刷脸/刷证"即可完成核验，无需额外审批。货车方面， 新海港和南港"二线口岸"(货运)集中查验场成为货车出岛的通道，实现安 检关口前置一站式联合查验流程，通过安检机、地磅称重、智能识别等设 备，实现"货物信息一次录入、全程共享"，从而提升查验效率，经过查验 的货车进入港区，之后流程一样。 问：公司通过什么方式应对自贸港封关运作带来的车客流量增长？ 答：公司可以通过增加平板驳船投入、新造客滚船舶来满足市场需求， 此外可以通过开辟新航线缓解海口至海安航线 ...

问：请公司结合封关后相关业务增长预测，2026年公司营收目标增 速？ 答：海南自贸港实施优惠的税收政策，包括企业所得税优惠等，直接 降低公司的运营成本，为公司发展提供良好的政策环境。海南封关运作后， 将实行"一线放开，二线管住"的政策，这意味着境内外货物进出海南将 更加自由便利；实施"非禁即入"原则，投资自由化，这将吸引更多的投 资者和合作伙伴进入海南市场，有利于公司车客流量的确定性增长。随着 海南省基础设施建设的完善，如环岛旅游公路的建成，也将大幅吸引自驾 人群，对公司的主营业务起到带动作用。公司营业收入预计将与海南地区 经济增速紧密相关，公司业绩受宏观经济状况、政策落地节奏及公司自身 运营效率等多重变量影响，提请投资者理性判断，注意投资风险。 问：公司琼州海峡客滚运输淡旺季情况？ 编号：20260128-1 | 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 中金资管 董俊业 | | | | 广发证券 陈宇、李然 ...

Group 1: Product Development - Suzhou Jingyin began developing heterojunction paste in 2017, becoming one of the first companies in China to produce it at scale, overcoming early foreign monopolies [1] - The company launched silver-coated copper technology in 2021, significantly reducing the cost of heterojunction battery paste, and has successfully developed a silver-coated copper paste with 10% silver content [1][2] - The company is also expanding the application of heterojunction paste in other fields, including space photovoltaics, addressing specific challenges related to environment and radiation [2] - The company has successfully developed ultra-low temperature silver paste for perovskite stacked batteries, achieving advanced performance metrics in industry testing [3] Group 2: Financial Management - As of September 30, 2025, the consolidated asset-liability ratio of Suzhou Gude is around 20%, indicating a healthy financial position [4] - The company has strategically reduced market share with high-risk clients to manage accounts receivable risks, ensuring that the scale of receivables remains within a controllable range [4] Group 3: Market Dynamics - High silver prices have positively impacted the company's silver paste business, leading to increased acceptance of the silver-coated copper solution among clients [5] - The overseas photovoltaic market is expected to grow faster than the domestic market in 2026, with the company establishing a silver paste production base in Malaysia to benefit from this growth [8] Group 4: Product Offerings and Strategy - The company's silver paste shipments are primarily high-temperature silver paste, with low-temperature silver paste accounting for approximately 10%-20% of total shipments [8] - The company maintains an open attitude towards mergers and acquisitions, focusing on business compatibility and future management considerations [8]

场需求；国内市场方面，自 2018 年油气增储上产"七年行动计划"落地 实施以来，石油企业被明确赋予增储上产主体责任，原油产量增长的推 进节奏受油价短期波动的影响相对较小，行业整体保持稳定的勘探开发 投入。同时，国内天然气开发力度持续加大，进一步带动了公司主营产 品的需求增长。目前公司依托政策持续推进与市场需求的双重支撑，在 国内市场实现了稳步发展。 3.公司与北美四大石油服务公司是否存在竞争关系？ 答：公司与北美四大石油服务公司在螺杆钻具领域存在直接竞争，同时 双方也在部分业务上开展合作。例如，公司凭借先进的螺杆钻具加工设 备、完善的品控管理体系和过硬的质量把控能力，与国际知名油服企业 开展螺杆钻具核心部件的销售业务。 编号：2026-002 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 电话会议 □其他 参与单位名称及 人员姓名 西南证券 胡光怿 时间 2026 年 1 月 28 日 16:00-17:30 地点 公司三楼办公室 上市公司接待人 员姓名 副总经理、董事会秘书 王海斌 证券事务代表 张 峰 投资者关系活动 主要内容介绍 一、公 ...

Group 1: Investor Relations Activities - The company engaged in investor relations activities through online meetings with various investment firms, including Tianfeng Securities and Huatai Securities [2] - The meeting took place on January 27, 2026, with key personnel including the Chairman and General Manager, Mr. Luo Hongpeng, and Vice General Manager, Mr. Wei Zijun [3] Group 2: AI Integration in Smart Home Solutions - The company aims to integrate AI capabilities with cloud terminals, IoT, and digital products to create a comprehensive smart home solution [3] - A new product line, including smart speakers and AI-driven home solutions, was launched in collaboration with partners, showcasing the company's AI application integration capabilities [4] - The smart home solution leverages self-developed intent models and collaborates with major cloud services to enhance voice interaction and semantic understanding [4][5] Group 3: Business Model Transformation - The company is shifting from a hardware sales model to a service-oriented model, focusing on continuous user engagement and value creation [7][9] - Each household is expected to generate over 1,000 yuan annually from basic network and digital rights services, contributing to a stable revenue stream [9] - The new model emphasizes long-term user value and operational sustainability, moving away from one-time hardware sales [9] Group 4: Expansion into Aviation Internet - The company is developing communication solutions for aviation, focusing on integrating ground, air, and satellite networks for seamless connectivity [11] - A strategic partnership with Xinghang Huilian aims to enhance in-flight communication services, allowing passengers to use existing mobile plans [11] - The company plans to extend its digital service offerings to in-flight entertainment, leveraging its extensive digital content resources [12][13]

Group 1: Company Strategy - The company focuses on the "big health" development strategy in pharmaceuticals and medical services, aiming to create a comprehensive health ecosystem covering the entire lifecycle of customers [2] - It aims to enhance core competitiveness by concentrating on its main business and improving management levels across various sectors [3] Group 2: Financial Performance - The company forecasts a net profit attributable to shareholders for 2025 between CNY 660 million and CNY 730 million, representing a year-on-year growth of 320.74% to 344.16% [2] - The net profit after deducting non-recurring gains and losses is expected to be between CNY 600 million and CNY 670 million, indicating a growth of 277.59% to 298.31% compared to the previous year [2] Group 3: Pharmaceutical Business - The pharmaceutical segment includes the development, production, and sales of drug formulations and active pharmaceutical ingredients (APIs), with a focus on skin, anti-infection, and anti-tumor products [4] - The company has established three major API production bases, ensuring a stable supply of core products and achieving integration of API and formulation production [4] Group 4: Research and Development - The company emphasizes R&D in pharmaceuticals, focusing on generic drugs in dermatology and specialty medications, while also investing in innovative drugs through its subsidiary [5] - It holds a 13.2% stake in a company specializing in cell gene therapy, making it the third-largest shareholder [5] Group 5: Medical Services - The company has developed a layered business ecosystem in healthcare, providing integrated medical services that include basic medical care, rehabilitation, and longevity health services [6] - It operates hospitals and health management centers, focusing on disease treatment and health improvement [6][7] Group 6: Health Management - The company has established three longevity and anti-aging centers in major cities, implementing a comprehensive management system for health assessment and intervention [7] - It has partnered with global anti-aging pioneer Bryan Johnson to launch the "Blueprint" anti-aging brand, enhancing its service offerings [8] Group 7: Shareholder Returns - The company has maintained a high dividend policy, distributing approximately CNY 3 billion since 2018, and plans to continue sustainable profit distribution [9] - It is considering diverse dividend methods in the future based on its financial performance [9] Group 8: Bond Issuance - The company plans to issue exchangeable bonds totaling no more than CNY 1 billion, subject to market conditions and shareholder approval [9]

Group 1: Company Overview and R&D Investment - The company's R&D investment accounts for approximately 8% of its sales, which is not considered high compared to industry standards, but is justified by unique circumstances [3] - The company has maintained its R&D investment within the range of 6% to 8% in recent years to balance input-output efficiency [3] - The company has a strong research foundation due to its origins from the Chengdu Computer Application Research Institute of the Chinese Academy of Sciences [3] Group 2: Business Focus and Technology Development - The company is focusing on four main sectors: smart governance, intelligent manufacturing, smart cities, and smart healthcare, while also working on productization [4] - The company has developed a comprehensive technology system that integrates 2D and 3D recognition technologies, with some applications already in use [5] - The company is developing detection systems for silicon carbide and other third-generation semiconductor wafers, currently in the R&D phase [6] Group 3: Future Performance and Market Strategy - The company is optimistic about future performance, with a reported 280% growth in new contracts in the first half of 2025 [7] - The company is expanding its oil and gas business, focusing on digital and intelligent solutions for oilfield production and management [9] - The company emphasizes talent retention and development, including graduate training programs and stock incentive plans [9] Group 4: Corporate Governance and Value Management - As a state-owned enterprise, the company prioritizes value management, integrating asset preservation and high-quality development into executive assessments [10] - The company has established a value management system to enhance communication with investors and improve governance [10]