证券代码：300784 证券简称：利安科技 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 参会单位名称 申万菱信基金：夏妍；浙商证券研究所：马远方；摩根基金：李昂 时间 2025 年 4 月 22 日 14:00-15:30 地点 公司 上市公司接待人员 总经理邱翌、董秘陈军 投资者关系活动主 要内容介绍 调研记录： 公司总经理邱翌介绍公司的基本情况，并就投资者关注的问题作相应的沟 通。主要沟通内容如下： 问题一：公司从事的主营业务？ 答复：公司主要从事注塑产品以及精密注塑模具的研发、生产和销售，是集 产品工业设计、精密模具设计、制造、注塑、喷涂以及组装等于一体的专业精密制 造企业。公司秉承"技术创造价值、技术引领市场"的经营理念，本着"团结、创 新、实效、精进"的企业精神，依托在注塑产品及精密注塑模具设计、加工、装配、 检测等方面积累的技术和经验，已发展成为规模化的"模塑一体化"生产企业。 问题二：美国关税政策对公司经营是否有重大影响？ 答复：公司 2024 年度实现国内销售 379,415,898.06 元，占营业收入的 74.1 ...

证券代码：301077 证券简称：星华新材 浙江星华新材料集团股份有限公司 投资者关系活动记录表 6.目前下游市场对消费类面料的需求情况可以介绍一下吗？ 答:投资者，您好。根据Statista预测，2023年，全球户外运 动用品市场规模达到2156亿美元，2024 年将增长至2265亿美元， 2025 年将达2363亿美元，2023年至2025年期间的复合年均增长率 约为5%，中国运动户外市场规模预计到2028年将增长至5593亿元。 根据渤海证券研究所《2023年全球户外用品行业白皮书》显示，中 国户外用品市场以户外服装为主导，市场份额占46%，露营装备和 户外鞋靴分别为17%、12%。可见未来反光功能面料市场前景广阔。 公司对反光功能面料产品的开发和运用一直走在行业前端，已推出 印花反光面料、炫彩反光面料、银灰色反光面料、彩色反光面料、 渐变反光面料、夜光面料等多款产品，并曾摘得ISPO功能性纺织品 流行趋势大奖 TOP Ten（十佳产品）。公司前期已经通过参加国 际、国内的时尚展会推广公司的反光功能面料，与各类运动品牌、 知名品牌、时尚潮牌、网红品牌、新兴品牌等建立了联系，助力公 司在新兴的消费类面料市 ...

Financial Performance - In 2024, the company achieved an operating revenue of 458,881.95 million yuan, a year-on-year increase of 30.04% [3] - The net profit attributable to shareholders was 45,266.44 million yuan, up 31.59% from the previous year [3] - The net profit after deducting non-recurring items was approximately 430 million yuan, reflecting a growth of about 35.87% [3] - The comprehensive gross margin for 2024 was 28.75%, a decrease of 1.00% [3] - In Q1 2025, the company reported an operating revenue of 933 million yuan, a year-on-year increase of 25.07% [4] - The net profit attributable to shareholders in Q1 2025 was 48.01 million yuan, down 22.53% [4] Business Segments Data Center Cooling - Revenue from data center cooling energy-saving products reached 2.441 billion yuan, accounting for 53.19% of total revenue, with a year-on-year growth of 48.83% [3] - The liquid cooling technology has been rapidly adopted, with cumulative deliveries reaching 1.2GW by March 2025 [4] Cabinet Cooling - Revenue from cabinet cooling energy-saving products was 1.715 billion yuan, representing 37.37% of total revenue, with a year-on-year increase of 17.03% [3] - Revenue from energy storage applications was approximately 1.5 billion yuan, reflecting a growth of about 22% [4] Other Businesses - Revenue from electronic cooling and server temperature control products has been integrated into major tech companies' systems, enhancing market presence [5] - The company is expanding its market in the electric vehicle sector and cold chain logistics, with significant growth in sales of new energy refrigerated vehicles [6] Cost and Expenses - Sales expenses for 2024 were 206 million yuan, an increase of 18.66% [3] - R&D expenses reached 350 million yuan, up 32.98% [3] - Management expenses totaled 198 million yuan, reflecting a growth of 28.75% [3] Future Outlook - The company aims to solidify its position in the large cloud computing data center market and expand sales of indirect evaporative cooling products [6] - Plans to enhance overseas market penetration, particularly in liquid cooling technology [6] - Continuous innovation and upgrading of energy storage liquid cooling products are prioritized to maintain competitive advantage [6] Investor Relations - The meeting included 46 investors from various securities firms, indicating strong interest in the company's performance and future strategies [2] - The company emphasized its commitment to transparency and accurate information disclosure during the investor meeting [4]

证券代码：300698 证券简称：万马科技 万马科技股份有限公司 2024 年度业绩说明会 投资者活动记录表 2.行业以后的发展前景怎样？ 答：目前公司所在行业受益于全球汽车智能网联化渗透率的持续提升，主要有三大趋势。 其一是，连接方面国内 5G 需求的持续提升。2024 年前三季度，我国乘用车新车车辆联网 渗透率达 84.59%，且我国 5G 车载模组装车渗透率仍有较大增长空间。其二是，国内主机 厂出口持续增长，全球网联是刚需。2024 年，中国汽车出口仍保持较快增长，同比增长 19.3%。2025~2026 年，出口有望维持 15%~21%的增速。其三是，高级辅助驾驶系统技术 发展迅速，数据闭环及智算需求旺盛。而随着辅助驾驶系统技术持续向高级别跃升，相 应车辆数据呈指数级增长，对数据处理以及存储需求激增。总体来看，行业已形成政策、 技术与市场三力共振趋势，将为我国经济高质量发展注入强大动力。 3.公司本期盈利水平如何？ 答：公司 2024 年实现营业收入 56,087.68 万元，较上年同期增长 7.72%；归属于上市公 司股东的净利润为 4,130.75 万元，较上年同期下降 35.92%，主要受项目实 ...

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 ...