源设备产能调整导致验收周期推迟，原本应该在 2024 年内确 认收入的项目未能如期确认。目前光伏行业仍有近 19 亿元的 发出商品未确认销售收入（但有 60%左右的货款公司已经实际 收取）。其次，因为光伏行业发出商品金额较高，针对当前的光 伏行业较为艰难的状况，公司对光伏行业的发出商品计提了约 4,371 万元的存货跌价准备。第三，期间费用增加，尤其是研 发费用同比增长 40%，包括了股权激励费用的摊销以及为加强 研发团队而招聘高学历人才带来的薪酬支出。 问题 3：存货跌价准备对净利润的影响如何？ 证券代码：300820 证券简称：英杰电气 四川英杰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 | | | | | --- | --- | --- | --- | --- | | 投资者关系 活动类别 | □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 | 详见参会投资者清单 | | | | | 及人员姓名 | | | | | | ...

Group 1: Company Performance and Sales Outlook - The company achieved growth in both domestic and international sales in Q1 2025, supported by the government's trade-in policy and local government cooperation [2] - The company aims to maintain better-than-industry performance in domestic sales and stable growth in international sales through continuous product innovation and channel transformation [2] Group 2: Impact of Tariffs and Competition - The high tariffs imposed by the U.S. on Chinese exports have a minimal impact on the company due to its low exposure in the North American market and flexible capacity allocation through its Vietnam base [3] - To maintain profit margins amid intense competition, the company focuses on resource investment in sales growth and product innovation, while implementing strict cost management [3] Group 3: New Product Categories and Innovations - The company evaluates new product categories based on market capacity and technological iteration potential, with plans to enter segments like desktop water purifiers and tea machines [4] - In 2024, the company launched innovative products such as the IH rice cooker and titanium non-stick frying pan in its traditional strong categories [4] Group 4: Dividend Policy and Online Sales Channels - The company has a high dividend payout ratio and plans future dividends based on capital expenditure and cash flow conditions [4] - Online sales channels, particularly traditional e-commerce platforms like Tmall, JD.com, and Pinduoduo, remain stable contributors to sales, while social e-commerce platforms are experiencing rapid growth [4]

证券代码:300818 证券简称:耐普矿机 编号:2025-003 江西耐普矿机股份有限公司 投资者关系活动记录 | 投资者关系活 | 特定对象调研 媒体采访 | | 分析师会议 业绩说明会 | | | --- | --- | --- | --- | --- | | 动类别 | 新闻发布会 | | 路演活动 | | | | 现场参观 | | 一对一沟通 | | | |  其他（线上交流） | | | | | | 华宝基金 | 丁靖斐 | 宝盈基金 | 李巍宇 | | | 工银瑞信基金 | 李迪 | 才华资本 | 羅磊 | | | 招商基金 | 朱红裕 | 高腾国际资产 | 张俊杰 | | | 嘉合基金 | 郑伟豪 | 易米基金 | 凡翔 | | | 平安养老保险 | 陈先龙 | 长安国际信托 | 胡少平 | | | 高毅资产 | 朱春禹 | 国寿安保基金 | 肖佳琪 | | | 慎知资产 | 李浩田 | 中天汇富基金 | 慕陶 | | | 感叹号投资 | 谭永平 | 融辰厚纪投资 | 朱华烽 | | | 三登投资 | 倪娜 | Inpsur Capital | Rago S Mik | | ...

证券代码：002955 证券简称：鸿合科技 鸿合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（电话会议） 参与单位名称及 人员姓名 华创证券、宁波盛世知己投资、上海乘是资管、金科投资、深 圳前海珞珈方圆资管 时间 2025 年 4 月 27 日 15:00-16:00 地点 电话会议 上市公司接待人 员姓名 董事、总经理 冷宏俊 财务总监 谢芳 副总经理、董事会秘书 夏亮 投资者关系经理 杨洋 投资者关系活动 主要内容介绍 一、公司总经理介绍 2024 年度及 2025 年第一季度业绩情 况 公司 2024 年度与 2025 年第一季度的详细财务数据详见 已披露的公告。 公司 2024 年净利润同比有所下滑，主要原因是国内教育 市场受采购预算紧缩、竞争加剧等原因，致使国内业务年度营 收和毛利润下降；公司在精简团队降本增效的同时，仍在 AI 新技术应用、海外软件产品以及增长型新产品开发上持续投 入，全年净利出现同比下滑。2024 年第四季度，公司对国内教 育团队进行了新的调整、 ...

Brand Performance - The brand "Winona Baby" achieved revenue of over 200 million RMB, a year-on-year growth of 34% in 2024 [2] - The brand "Aikeman" generated approximately 60 million RMB in revenue, with a year-on-year increase of over 65% [2] - "Jirui" reported revenue of 470 million RMB in 2024, while "Bomei" generated over 50 million RMB, contributing significantly to the company's growth [2] Profitability and Financial Metrics - The company's gross profit margin improved from 73.74% in 2024 to 77.47% in Q1 2025 [3] - Cumulative dividends from 2021 to 2024 amounted to 1.098 billion RMB, representing 34.60% of the net profit attributable to shareholders during this period [3] - The 2024 dividend was approximately 250 million RMB, accounting for over 50% of the net profit attributable to shareholders [3] Inventory and Supply Chain Management - Inventory turnover rate increased from 1.78 times/year in 2023 to 1.87 times/year in 2024, a growth of 5.43% [3] - Inventory decreased from over 900 million RMB at the end of 2023 to 600 million RMB by the end of 2024, and further down to 560 million RMB by the end of Q1 2025 [3] Marketing and Sales Strategies - The brand "Aikeman" ranked among the top 6 new beauty brands on Tmall during the "Double 11" shopping festival in 2024 [4] - "Jirui" saw a 56% year-on-year increase in search index on Douyin for its core product, while its sunscreen category experienced a 97% increase [4] - "Bomei" achieved a 1181% year-on-year increase in search index for its flagship product on Douyin [4] Offline and Online Channel Development - The OTC distribution channel covered over 129,000 pharmacy stores nationwide by the end of 2024 [5] - The company opened 179 new brand direct stores in key urban areas, enhancing brand visibility and service capabilities [5] - The self-built OMO online sales platform saw large orders (over 1000 RMB) account for approximately 62.82% of total orders, with an average transaction value exceeding 1500 RMB [5]

编号：2025-001 | | √ 特定对象调研 □ 分析师会议 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 投资者关系活 | □ 媒体采访 业绩说明会 | | □ | | | | | | 动类别 | □ 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 | | | | | | | | | | 中金公司、中信证券、信达证券、兴业证券、华泰证券、长 江证券、国盛证券、广发证券、国海证券、中邮证券、花旗 | | | | | | | | | | | | 证券、华创证券、汇丰证券、国金证券、国联民生、国泰海 | | | | | | 通、申万交运、国信证券、华源证券、西部证券、中信建投、 | | | | | | | | 及人员姓名 | 中信里昂、安信证券、方正证券、博时基金、汇丰基金、上 | | | | | | | | | 银基金、朱雀基金、长城基金、天弘基金、浙商基金、华泰 | | | ...

Financial Performance - In 2024, the company achieved a revenue of CNY 3,251.01 million, a year-on-year increase of 21.38% [3] - The net profit attributable to shareholders reached CNY 583.40 million, up 29.89% from the previous year [3] - The net profit after deducting non-recurring gains and losses was CNY 503.79 million, reflecting a growth of 35.31% [3] - In Q1 2025, the company reported a revenue of CNY 789.12 million, a 27.91% increase year-on-year [4] - The net profit attributable to shareholders for Q1 2025 was CNY 142.74 million, up 38.50% from the same period last year [5] R&D Investment - In 2024, R&D investment totaled CNY 469.02 million, a 1.49% increase year-on-year, accounting for 14.43% of total revenue [3] - The company has focused on high-precision positioning chips and autonomous driving products, among other strategic projects [3] Product Performance - The company launched several key products, including the RS series measurement systems and the Navigator NX612 autonomous driving system [3] - RTK sales exceeded 100,000 units, while the agricultural autonomous driving system sold over 60,000 units in 2024 [3] - Cumulative deliveries of automotive-grade products surpassed 300,000 units by the end of 2024 [9] Market Segmentation - The resource and public utilities segment generated CNY 1,425.25 million in revenue, a 26.41% increase [3] - The construction and infrastructure segment achieved CNY 1,052.59 million, up 8.97% [3] - The geographic information segment reported CNY 588.50 million, a growth of 38.44% [3] - The robotics and autonomous driving segment earned CNY 184.67 million, increasing by 15.53% [3] Profitability Metrics - The overall gross margin for 2024 was 58.13%, an increase of 1.07% from the previous year [4] - The sales expense ratio was 18.45%, down 0.59%, while the management expense ratio rose to 7.92%, an increase of 0.56% [4] - Operating cash flow net amount reached CNY 659.06 million, a 47.99% increase year-on-year [4] Future Outlook - The company aims for a net profit of CNY 730 million in 2025, targeting a growth of approximately 25% [5] - The three-dimensional intelligent business is expected to continue growing, driven by advancements in technology and market demand [7] - The company plans to maintain high R&D investment to enhance its product offerings and market competitiveness [12]

| 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 □ □ | | | 路演活动 □ 新闻发布会 □ | | | □ 现场参观 | | | □ 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 兴证全球基金管理有限公司 朱喆丰 | | 人员姓名 | 博时基金管理有限公司 乔奇兵 | | | 上海东方证券资产管理有限公司 陈思远 | | | 东方基金管理股份有限公司 刘长俊 | | | 海富通基金管理有限公司 胡嘉祥 | | | 天弘基金管理有限公司 丁雪松 | | | 国信证券股份有限公司 张浩冉 | | | 同泰基金管理有限公司 王喜 | | | 高致（上海）投资管理有限公司 李澍 | | | 上海睿亿投资发展中心 李敬尧 | | | 上海仁灏投资 叶鑫 | | | 高致投资 熊凌 | | | 海通资管 肖彦 | | | 兴全基金 黄志远 | | | 杭州俊腾私募基金管理有限公司 刘琳 | | | 首创证券 刘琳 | | | 华鑫国际信托有限公司 王彩江 | | 时间 | 2025 年 4 月 27 日 (周日) 下午 20 ...

| | 本次交流活动采用线上方式举行，活动不涉及应披露的重 | | --- | --- | | | 大信息，与投资者交流情况如下： | | | 1.长三角（盐城）智能网联汽车试验场业务如果全面达产， | | | 预计产值能达到多少？目前智能网联业务对整体收入的贡献有 | | | 多大？ | | | 答：（1）长三角（盐城）智能网联汽车试验场是公司募投 | | | 项目，效益测算详见公司《招股说明书》，实际效益情况受宏 | | | 观经济环境、市场行情、客户研发需求等因素影响，产能释放 | | | 需要一些时间周期，请投资者谨慎决策，注意投资风险。（2） | | | 公司已与多家客户签订了智能网联试验场业务合同，为后期长 | | | 三角（盐城）智能网联汽车试验场产能释放奠定基础。目前， | | | 相关业务正处于爬坡阶段，产能将逐步释放。 | | 投资者关系活 | | | | 2.公司 2024 年前五大客户具体是哪几家？看最近披露的 | | 动主要内容介 | 年报第一大客户为中汽中心，整体业务量为 7 千多万，对于中 | | 绍 | 汽中心整体的业务收入未来预期如何，增速如何？ | | | 答：（1）公司《 ...

Financial Performance - In 2024, the company achieved a revenue of CNY 2.371 billion, a year-on-year increase of 9.04%, and a net profit of CNY 100 million, up 15.9% [1] - In Q1 2025, revenue reached CNY 625 million, a growth of 20.35%, with a net profit of CNY 51.12 million, increasing by 13.23% [2] - The net cash flow from operating activities for 2024 was CNY 498 million, a significant increase of 150.76% [2] Product Performance - The veterinary pharmaceutical segment saw a 21% increase in sales volume and a 21.47% rise in revenue in 2024; Q1 2025 sales volume surged by 55.55% [2] - The expected annual sales volume for 2025 is approximately 100,000 tons of gold mildew powder, reflecting a growth of around 65% [2] - The gross margin for gold mildew premix in 2024 improved by about 10 percentage points due to a 16.31% decrease in corn prices [2] Market Expansion - The U.S. market is the largest overseas market, accounting for about two-thirds of exports; the company plans to raise prices in the U.S. market starting May 1, 2025, to cover increased tariffs [3] - The company is expanding its product applications, with new approvals for gold mildew premix for sheep and ongoing applications for cattle and rabbit [2] Strategic Developments - A strategic cooperation agreement was signed with Shanghai Jiao Tong University for synthetic biology applications, aiming to develop new products and improve existing processes [2] - The company has established a pet division in Shanghai, with 8 health products and 1 rabies vaccine currently available, and 11 products under application [3][5] Investor Engagement - The company engaged with various investors and analysts during an online conference, discussing financial performance, market strategies, and product developments [1] - Key questions from investors included the pricing strategy for gold mildew products and the company's market share in the U.S. [3][4]