Financial Performance - In Q1 2025, the company achieved a revenue of 8.22 billion yuan, representing a year-on-year growth of 20% [3] - The net profit attributable to shareholders was 1.16 billion yuan, with a year-on-year increase of 28.45% [3] - The non-recurring net profit reached 9.35 million yuan, showing a growth of 19.65% year-on-year [3] Business Strategy - The company is focusing on international brand strategy, marking its transition from a regional to a global brand [3] - A 56% stake acquisition in Zhongrui Supply Chain was completed, enhancing collaboration across core business segments [3] - The company is implementing a share repurchase plan, with a total repurchase amount of 120 million yuan as of March 31, 2025 [3] Product Development - The high pathogenic avian influenza vaccine generated 87 million yuan in revenue, a 16% increase year-on-year, while the Marek's vaccine revenue reached 26 million yuan, up 59% [4] - The company plans to launch new products, including a cat oral dewormer and various mRNA vaccines for pets, to enrich its product matrix [4][5] Market Expansion - The company has nearly 100% coverage of its top 100 customers in the traditional livestock sector and aims to deepen strategic cooperation with major clients [6][7] - The international strategy includes a dual circulation approach for product and technology, focusing on overseas market expansion and enhancing service capabilities [7] Impact of Tariffs - Export business accounts for approximately 3% of total revenue, indicating minimal direct impact from US-China tariffs [7] - The company is monitoring tariff policy changes to adjust its business layout and product strategies accordingly [7]

Financial Performance - In Q1 2025, the company achieved a revenue of 267,142.72 million CNY, representing a year-on-year growth of 15.24% [2] - The net profit attributable to shareholders increased by 12.10% year-on-year [2] - Gross profit margin improved to 23.79%, up by 0.14 percentage points year-on-year and 2.85 percentage points quarter-on-quarter [2] Business Segments - The digital energy segment experienced a revenue decline due to industry destocking and falling battery prices, prompting a strategic shift towards energy storage applications [2] - The smart automotive and robotics sectors maintained high growth rates, with significant advancements in charging solutions and laser radar products [2][3] - The tools and home appliances business is expanding through partnerships with high-value clients and product innovation [2] Market Strategy - The company plans to enhance market share in the home appliance and tool sectors, which currently generate around 1 billion CNY each, by focusing on high-growth clients [6] - The transition from components to complete machines is expected to positively impact product value and profit margins, with new products priced in the tens of thousands CNY range [6] Competitive Landscape - The company aims to maintain a leading position in the digital energy and smart automotive sectors, with a focus on technology-driven growth [7] - The global market for laser radar in automotive applications is projected to reach a scale of approximately 100 billion CNY [5] International Operations - Direct exports to the U.S. represent a low percentage of total revenue, and the company is leveraging overseas production to mitigate tariff impacts [7] - Future overseas revenue is expected to account for over 20% in 2024, with plans to increase this to 30%-40% based on client demand [7] Risk Management - The company is actively managing foreign exchange risks through various strategies, including forward contracts and timely settlements [7]

证券代码：002215 证券简称：诺 普 信 深圳诺普信作物科学股份有限公司投资者关系活动记录表 | 投资者关系活 | □特定对象调研 □分析师会议 | | --- | --- | | 动类别 | □媒体采访 ☑业绩说明会 | | | □路演活动 □新闻发布会 | | | □现场参观 □其他 | | 参与单位名称 及人员姓名 | 中信证券、汇添富基金、易方达基金、国泰海通、民生证券、长 盛基金、上海庐雍资产、上海华汯资产、兴业银行、磐厚动量、 | | | 民生加银基金、中信保诚资产、浙江伟星资产、宏利资产、国投 | | | 证券、上海观火投研、申万宏源、天风农业、大正投资、睿胜投 | | | 资、雷钧资产、东北证券、崇山资本、汇智源林私募基金、天弘 | | | 基金、人保资产、上海卓恒私募基金、新华基金、农银人寿保险、 | | | 工银安盛、凯丰投资、华能贵诚信托、深圳蓝焱资本、深圳宏鼎 | | | 财富、昆仑健康保险、西部利得基金、中原证券、华夏财富、开 | | | 源证券、长江证券、博闻投资、姜雷、范世强。 | | 时间 | 2025 年 4 月 24 日 20:45-21:45 | | 地点 | 线上电 ...

证券代码： 301507 证券简称：民生健康 杭州民生健康药业股份有限公司 投资者关系活动记录表 编号：2025-002 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 ☑ 其他 （业绩交流会） 参与单位名称及 人员姓名 参与名单详见附件 时间 2025 年 4 月 25 日 (周五) 上午 11:00-12:00 地点 线上/电话会议 上市公司接待人 员姓名 董事、总经理 张海军 财务负责人 朱文君 董事会秘书 陈稳竹 投资者关系活动 主要内容介绍 一、2024 年度及 2025 年一季度业绩情况说明 财务负责人朱文君详细介绍了公司 2024 年全年及 2025 年 第一季度的财务状况，内容涵盖总体财务数据、收入构成、研发 投入以及运营能力指标等方面。 二、公司市场概况与 2025 年战略规划介绍 董事兼总经理张海军向大家介绍了公司过去一年的主要市 场情况以及未来一年的业务规划。 三、问答环节 1、观察到公司的维生素与矿物质业务板块相对稳定，并且 已经布局了新的产品线和业务领域。在多矩阵产品板块并行运作 的背景下，公司是如何构 ...

Group 1: Strategic Planning and Governance - The new board and management will continue the established "14th Five-Year" strategy, focusing on stable governance and long-term development [3][4] - The company aims to deepen internal incentive systems and organizational changes to promote sustainable high-quality growth [3] Group 2: Incentive and Compensation Plans - The 2023 stock option incentive plan will proceed as originally planned, with preparations for future incentives already in place [4] - A new executive compensation scheme has been approved, designed to enhance market competitiveness and align management interests with long-term company value [4] Group 3: Internationalization Strategy - The "15th Five-Year" internationalization strategy emphasizes transitioning from comprehensive internationalization to globalization, focusing on localizing operations overseas [5] - The goal is to elevate the company from a high-end Chinese brand to a globally recognized high-value brand [5] Group 4: Research and Development Focus - The company maintains a leading position in R&D intensity and efficiency within the industry, with a focus on smart and electric products [6] - Future R&D will prioritize agricultural machinery, mining machinery, and key components, leveraging an advanced innovation design system [6] Group 5: Cost Reduction and Efficiency Improvement - The company employs a comprehensive approach to cost reduction, optimizing the entire value chain from R&D to manufacturing [6] - Future strategies include enhancing asset quality and reducing expense ratios, aiming for improved gross margins and net profit rates [6] Group 6: Electric Product Internationalization - The company is a pioneer in electric loader and excavator manufacturing, with higher profit margins for electric products overseas [7] - A dual model of "subsidiary + local agents" will be used to enhance global market coverage and customer support [7] Group 7: Competitive Response to Domestic Market Cycles - The company has made significant progress in R&D, manufacturing, and operational management since the mixed-ownership reform [8] - With a strong domestic market foundation, the company is well-positioned to capitalize on the upcoming market cycle [8]

证券代码：301459 证券简称：丰茂股份 浙江丰茂科技股份有限公司 投资者关系活动记录表 编号：2025-002 | 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 (请文字说明其他活动内容) | | 参与单位名称 | 天风证券、五矿证券、东方证券、华福证券、中航证券、西 | | | 部证券、海通证券、信达证券、甬兴证券、开源证券、中信 | | | 证券、鹏华基金、兴银基金、同泰基金、路博迈基金、华宝 | | | 基金、东兴基金、中邮创业基金、中信保诚基金、汇丰晋信 | | | 基金、永赢基金、中天汇富基金、光大永明资管、国泰君安 | | | 资管、长城财富资管、保银资管、中邮人寿、农银人寿、中 | | | 国平安、AmXyy Capital、Pleiad Investment Advisors | | | Limited、Lcrich Capital Management、秋阳予梁投资、鸿运 | | | 私募、前海华杉投资、磐厚动量私募、云汉资管、循远 ...

股票代码：000761 200761 股票简称：本钢板材 本钢板 B 债券代码：127018 债券简称：本钢转债 | 关于本次活动是 | 无 | | --- | --- | | 否涉及应披露重 | | | 大信息的说明 | | | 活动过程中所使 | 无 | | 用的演示文稿、 | | | 提供的文档等附 | | | 件（如有，可作 | | | 为附件） | | | 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 | | | | | 参与活动单位及 | 个人投资者梁军、张乾圣 | | | | | 人员 | | | | | | 时间 | 年 2025 25 15:30~16:30 | 4 | 月 | 日 | | 地点 | 本溪市 | | | | | 形式 | 实地调研 | | | | | 上市公司接待人 员 | 郑政利、贾晶乔 | | | | | | 1.公司预计资产置换大概需要多长时间完成？ | ...

Financial Performance - In Q1 2025, the company achieved revenue of 1.482 billion CNY, a year-on-year increase of 10.20% [3] - The net profit attributable to shareholders was 221 million CNY, up 23.67% year-on-year [3] - The gross profit margin was 27.95%, an increase of 3.95% compared to the same period last year [3] Business Growth Drivers - Improvement in product structure, with significant growth in the shipment of new products like micro-prisms [3] - Optimization of management systems, maintaining stable period expenses compared to the previous year [3] - Enhanced operational quality, with a continuous increase in the profit contribution from core business activities [3] Market and Competitive Landscape - The company has not received any notifications from core customers regarding order plans or price adjustments due to tariff uncertainties [5] - The company’s products maintain a competitive advantage due to their high cost-performance ratio, regardless of tariff impacts [5] - The company is focusing on innovation and new product development as key growth drivers [5] International Strategy - The company has established a factory in Vietnam to support overseas customers, with plans for further international expansion [6] - The Vietnam factory is primarily focused on mature process mass production, while R&D remains concentrated in China [7] Industry Outlook - The company expects to maintain a steady growth trajectory, targeting a revenue increase of 0-30% for the year [9] - The automotive electronics sector is projected to grow, particularly in AR-HUD applications, with the company maintaining a top-three market share [22] Operational Adjustments - The company is undergoing significant structural adjustments, including the relocation of production lines, which is expected to take one to two years to complete [16] - The adjustments are anticipated to have a manageable impact on capital expenditures and gross profit fluctuations [16] Future Innovations - The company is actively collaborating with major clients on micro-prism product upgrades, with a focus on both incremental and disruptive innovations [18] - The company is preparing for the mass production of coated optical filters, with quality control and downstream verification being critical [19] Strategic Positioning - The company has transitioned from a contract manufacturer to a technology-driven partner, collaborating with global tech giants on high-difficulty projects [23] - The AR glasses market is expected to grow significantly, with the company positioned to benefit from this trend due to its strategic partnerships and technological capabilities [23]

证券代码：002983 证券简称：芯瑞达 安徽芯瑞达科技股份有限公司 投资者关系活动记录表 编号：2025-003 | | 特定对象调研  | 分析师会议 | | --- | --- | --- | | 投资者关系活动 |  媒体采访 | □业绩说明会 | | 类别 | □新闻发布会 | □路演活动 | | | □现场参观 | | | | 其他（  | 线上调研 ） | | | 邹兰兰 | 长城证券 | | | 高璐阳 | 工银瑞信北京区 | | | 张佳琪 | 北银理财有限责任公司 | | | 郭锐 | 招商基金广深区 | | | 段明哲 | 方正资管 | | | 成浅之 | 华安证券 | | | 宋伟 | 浙商证券研究所 | | | 徐程颖 | 国盛家电 | | | 姝玥 | 国盛家电盘 | | 参与单位名称及人 | 桑轶 | 中信证券 | | 员姓名 | 杨志 | 众诚汽车保险 | | | 曾质彬 | 广发基金广深区 | | | 张浩佳 | 东吴基金管理有限公司 | | | 俞忠华 | 上海云门投资管理有限公司 | | | 房淑明 | 仁重股权投资(上海)有限公司 | | | 梁忻 | 东方基金 ...

Group 1: Company Performance Overview - In 2024, the total procurement amount for medical devices in China significantly decreased due to domestic industry policy factors and the company's strategic investments, leading to a decline in revenue from ultrasound and endoscope businesses [2][3]. - In Q1 2025, the company experienced a noticeable recovery in hospital procurement, with a marked increase in successful bids, although revenue still declined due to a lag between market bids and reported income [2][3]. - The company added over 400 employees in 2024, resulting in increased R&D and sales expenses, which contributed to a significant drop in net profit in Q1 2025 [2][3]. Group 2: Revenue and Product Development Outlook - The company anticipates that the procurement from terminal hospitals in 2025 will exceed that of the previous year, with a return to revenue growth expected [2][3]. - 2025 is projected to be a significant year for new product launches, including the ultrasound 80 platform and HD-580 series endoscopes, which will support stable revenue growth [2][3]. Group 3: Gross Margin Challenges and Strategies - The decline in gross margin is attributed to several factors, including the reclassification of warranty fees to operating costs and a decrease in domestic business revenue proportion [4]. - Increased market competition and concentrated procurement projects have led to a continuous decline in terminal bid prices for ultrasound and endoscope products, impacting overall gross margins [4]. - The company aims to maintain market share while investing heavily in R&D to launch advanced products, which will help sustain higher gross margins [4]. Group 4: Impact of Tariffs and Market Trends - The company’s cost structure shows that raw materials constitute a low percentage, and recent tariff increases are not expected to significantly impact product costs [5]. - The rollout of large-scale procurement plans for medical device updates is anticipated to occur in 2025, potentially increasing market demand [6]. - The concentration of procurement projects may signal a downward trend in overall industry gross margins, prompting the company to adapt its strategy by focusing on high-end products and diversifying its product lines [6]. Group 5: New Product Lines and Growth Potential - The minimally invasive surgery product line achieved a 30% revenue growth in 2024, with expectations for over 100% growth in Q1 2025, indicating a strong upward trend [6][7]. - The cardiovascular intervention product line is still in the strategic investment phase, with plans to introduce a broader product range to improve profitability in the future [7].