Group 1: Company Overview and Performance - The company achieved a revenue of 2.892 billion CNY in 2024, representing a year-on-year growth of 17.74% [12] - The net profit attributable to shareholders was 403 million CNY, an increase of 15.67% year-on-year [17] - The net profit excluding non-recurring items was 409 million CNY, reflecting a significant growth of 55.92% [17] Group 2: Clinical Development and Product Pipeline - BPI-16350, a CDK4/6 inhibitor, is currently undergoing drug registration review, with promising clinical data for treating HR-positive, HER2-negative breast cancer [42] - The RGB-5088 stem cell injection for diabetes has received IND approval and is in clinical trials, marking a significant breakthrough in treatment options [11] - The company has multiple projects in the pipeline, including BPI-520105 and BPI-221351, which have recently received IND approvals [12] Group 3: Market Position and Strategic Initiatives - The company is positioned as a leading player in China's innovative drug sector, with a market capitalization around 20 billion CNY [5] - Strategic collaborations with companies like C4T and EyePoint are aimed at enhancing the product pipeline and market reach [9] - The company emphasizes building an innovative ecosystem through partnerships and investments, which is expected to enrich its product offerings [16] Group 4: Financial Management and Market Challenges - The company reported a 35% quarter-on-quarter decline in revenue for Q4 2024, attributed to various factors affecting sales [18] - The gross margin decreased by 2.15 percentage points due to price reductions after products were included in the national medical insurance [29] - The company is actively managing costs and optimizing its operational efficiency to counteract the impact of reduced margins [11] Group 5: Future Outlook and Growth Drivers - Future growth drivers include expanding market sales of proprietary and collaborative products, focusing on core R&D pipelines, and implementing cost management strategies [11] - The company plans to leverage its innovative capabilities to explore new treatment areas beyond oncology, such as diabetes and cardiovascular diseases [23] - The overall outlook for the pharmaceutical industry remains positive, driven by policy support and advancements in research and development [10]

Group 1: Company Overview - The company focuses on the research, production, and sales of electronic and electrical functional materials, primarily divided into thermal management and environmental adaptation product modules [1][2] - The product range includes graphite heat dissipation films, heat sinks, cooling fans, and liquid cooling plates, providing systematic thermal solutions for various electronic products [2] Group 2: Application Fields - Products are widely used in consumer electronics such as smartphones, laptops, and smart wearable devices, as well as in high-end fields like new energy vehicles, energy storage, and medical equipment [3] Group 3: Major Clients - Key clients include major North American customers and leading domestic technology companies such as Xiaomi, Vivo, and Samsung [4] Group 4: Financial Performance - In 2024, the company achieved a revenue of 656 million yuan, a year-on-year increase of 51.10%, driven by rapid market demand and increased orders from North American clients [5] - The net profit attributable to shareholders was 52.46 million yuan, a slight decrease of 3.88% year-on-year, attributed to increased expenses from newly consolidated subsidiaries and higher sales and R&D costs [6] Group 5: Future Outlook - The company aims to enhance its core competitiveness and is optimistic about revenue growth in 2025, focusing on market expansion and continuous innovation [8] - Key projects for 2025 include the expansion of graphite film production, liquid cooling product projects, and the development of high-performance thermal products [9]

Financial Performance - In 2024, the company achieved operating revenue of 922 million CNY, a decrease of 37.16% year-on-year [2] - The net profit attributable to the parent company was -501 million CNY, a decline of 617.17% year-on-year [2] - In Q1 2025, operating revenue was 233 million CNY, an increase of 16.75% year-on-year, while the net profit was -43.74 million CNY, a decrease of 13.42% year-on-year [2] Reasons for 2024 Performance - Decline in overall revenue due to insufficient downstream demand in specialized industries, cyclical fluctuations in the communication sector, and underperformance in data center market expansion [2] - Asset impairment losses totaled 281.81 million CNY, including inventory write-downs of 253.71 million CNY [2] - Increased R&D expenses of 390.18 million CNY, up 17.41% year-on-year, reflecting the company's commitment to technological advancement [2] 2024 Work Focus - Strengthening product development and technological innovation in specialized fields such as aerospace, communication, data centers, integrated circuits, low-orbit satellites, and new energy [3][4] - Expanding product categories with existing mature customers and actively pursuing new industry clients [4] - Enhancing production capacity in Beijing, Xi'an, Shenzhen, and Chengdu, while advancing smart manufacturing and automation [4] 2025 Work Focus - Continuing to enhance integrated circuit design capabilities and SiP packaging technology [5] - Developing high-reliability, high-power-density power modules and customized power products for aerospace applications [6] - Increasing investment in R&D for high-reliability power management and emerging integrated circuit applications [6] Investor Communication Insights - Q1 2025 revenue shows improvement, with optimistic order and delivery outlook for Q2 and the full year [8] - R&D investment remains high, focusing on domestic production and new product categories [8] - Inventory impairment losses in 2024 were due to industry-wide impacts and overstocking based on previous demand forecasts [9] - New production capacity from projects in Beijing, Shenzhen, Xi'an, and Chengdu is expected to enhance overall output [9] Profit Margin Outlook - The company's gross margin is expected to stabilize, with potential improvements as demand increases and production efficiency rises [10] - The shift towards higher-margin products in aerospace could positively impact gross margin [10] Data Center Power Solutions - The company is strategically focused on data center power solutions, providing comprehensive power solutions from AC input to server power supply [11] - Current market presence is small, but there is significant potential for growth in this area [11]

Financial Performance - In 2024, the company achieved a revenue of CNY 1.798 billion, a year-on-year increase of 34.41% [1] - Overseas revenue reached CNY 1.682 billion, growing by 35.44%, while domestic revenue was CNY 116 million, up by 21.06% [2] - The net profit attributable to shareholders was CNY 215 million, a significant increase of 108.34% compared to the previous year [2] - In Q1 2025, the company reported a revenue of CNY 485 million, a year-on-year growth of 26.56% [3] - The net profit for Q1 2025 was CNY 54.09 million, reflecting a 27.96% increase [3] Product Performance - Core products showed strong growth: pet pads increased by 35.72%, pet diapers by 26.16%, and non-woven fabric products by 33.94% in 2024 [2] - New customer contributions in 2024 amounted to CNY 190 million, representing 10.55% of total sales [7] Market and Strategic Response - The company is facing uncertainties due to tariffs, particularly affecting over 50% of its exports to the U.S. [4] - To mitigate tariff impacts, the company is expanding its market presence in non-U.S. regions and enhancing domestic market strategies [5] - The company’s overseas production capacity in Cambodia is set to produce nearly 300 million units annually, starting in May 2025 [5] Cost Management and Profitability - The company has implemented effective cost control measures, including optimizing raw material procurement and energy management [10] - There is potential for margin improvement through market expansion, cost control, and product innovation [11] Dividend Policy - In 2024, the company maintained a dividend payout ratio of 74.44%, with plans to increase the frequency of dividends to three times a year [12]

证券代码： 300305 证券简称：裕兴股份 债券代码： 123144 债券简称：裕兴转债 江苏裕兴薄膜科技股份有限公司投资者关系活动记录表 | 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 （请文字说明其他活动内容） | | | 参与单位名称及 | 投资者网上提问 | | | 人员姓名 | | | | 时间 | 2025 年 4 月 日 (周三) 下午 15:00~17:00 | 23 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） | | | | 采用网络远程的方式召开业绩说明会 | | | 上市公司接待人 | 1、副董事长刘全 | | | 员姓名 | 2、董事、总经理朱益明 | | | | 3、财务总监、董事会秘书王长勇 | | | | 4、独立董事刘冠华 投资者提出的问题及公司回复情况 | | | | 公司就投资者在本次说明会中提出的问题进行了回复： 1、尊 ...

证券代码：000598 证券简称：兴蓉环境 成都市兴蓉环境股份有限公司 2025 年 4 月 23 日投资者关系活动记录表 编号：2025-09 | 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 | 南方基金 尹力、毛瑞丰、吴凡、赵俊桦 | | | 人员姓名 | 长江证券 徐科 | | | 时间 | 年 月 日 2025 23 | 4 | | 地点 | 线上交流 | | | 上市公司接待人 | 刘杰、梁一谷 | | | 员姓名 | | | | | 问题 1：请问公司应收账款方面的情况。 | | | | 答：随着公司近年来加强市场拓展，业务规模不断扩大，应收 | | | | 账款相应有所增加。截至 2024 年末，公司应收账款余额约 40 | | | | 亿元。部分地区回款情况有所改善。 | | | 投资者关系活动 | 公司高度重视应收账款管理，积极开展回款催收工作，将 | | | 主要内容介绍 | ...

成都唐源电气股份有限公司 投资者关系活动记录表 编号：2025-001 | | □特定对象调研 □分析师会议 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 投资者关 | □媒体采访 业绩说明会 | | | | | | | | | | 系活动类 | □新闻发布会 ☑路演活动 | | | | | | | | | | 别 | □现场参观 | | | | | | | | | | | ☑其他 "神源"轨交供电 AI 运维平台新产品发布 | | | | | | | | | | | 华泰证券:刘思倩、刘曼青；广发证券:卢耀强、谭耀昌；长江证券:屈奇； | | | | | | | | | | | 金元证券:叶艳云；海雅金控:孔庆志；海通期货:胡哲宁；东方证券:高沁； | | | | | | | | | | | 国 君 益 田 路 营 业 部 : 程 秀 丽 ； 聚 龙 投 资 : 李 友 富 ； | | | | | | | | | | | 深 圳 联 通 : 黎 芳 ； 畅 达 泰 泽 : 岳 远 明 ； ...

证券代码：301190 证券简称：善水科技 九江善水科技股份有限公司 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（请文字说明其他活动内容） | | | 参与单位名称及人员姓 | 投资者网上提问 | | | 名 | | | | | 2025年4月23日15:00-17:00 | | | 时间 | | | | | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net）采用 | | | 地点 | 网络远程的方式召开业绩说明会 | | | | 董事长兼总经理 | 黄国荣 | | 上市公司接待人员姓名 | 独立董事 | 卢昂荻 | | | 董事会秘书 | 赵玉伟 | | | 财务总监 | 游茂源 | | 投资者关系活动主要内 | | | | | 公司就投资者在本次说明会中提出的问题进行了回复： 1、2025年的业绩期望如何 | | | | 答：尊敬的投资者，您好，非 ...

证券代码： 002396 证券简称：星网锐捷 福建星网锐捷通讯股份有限公司 2025年4月23日投资者关系活动记录表 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 （请文字说明其他活动内容） 参与单位名称及 人员姓名 2024年年度网上业绩说明会 回复投资者网上提问 时间 2025年4月23日下午 15:00—16:00 地点 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net）采用 网络远程的方式召开业绩说明会 上市公司接待人 员姓名 1、董事长：阮加勇 2、副总经理、财务总监、董事会秘书：李怀宇 3、独立董事：谢帮生 投资者关系活动 主要内容介绍 投资者提出的问题及公司回复情况 公司就投资者在本次说明会中提出的问题进行了回复： Q1: 领导，您好！我来自四川大决策请问：公司在AI与现有业务融合 ，有哪些新的布局和举措？ A:公司提出了"一体三翼四引擎"的发展战略：一体就是一个整体战 略，坚定朝着世界一流的"ICT基础设施与AI应用方案提供商"迈进 ，在ICT基础设施领域，也就是网络和光通信产 ...