Group 1: Investor Relations Activity Overview - The investor relations activity was held on June 27, 2025, at the company's location in Beijing, with a total of 29 participants from various financial institutions [3][4]. - The event was part of a series called "Investors Up Close" organized by the Beijing Stock Exchange and Penghua Fund, aimed at enhancing investor understanding of high-tech enterprises [4]. Group 2: Company Profile and Achievements - Beijing Yunxingyu Transportation Technology Co., Ltd. has been deeply involved in the smart transportation sector for 28 years, expanding its business to digital infrastructure and smart city initiatives [4]. - The company has developed a leading smart tunnel comprehensive control platform and a "one map" platform for Beijing highways, integrating high-precision maps and spatiotemporal data for digital management [4]. Group 3: Future Plans and Strategic Focus - The company aims to leverage opportunities in integrated vehicle-road-cloud systems and low-altitude economy policies, actively expanding into new aerial transportation fields [4]. - There is a strategic shift towards a "hardware + software + operation" full-chain service model to maintain its leading position in the industry [4]. Group 4: Insights from Financial Institutions - Penghua Fund presented insights on the investment value and strategies related to the Beijing Stock Exchange [4]. - Guotai Junan Securities shared perspectives on the investment logic and outlook for the intelligent transportation sector [4].

Group 1: Company Overview - Jiangsu Ruitai New Energy Materials Co., Ltd. is actively involved in the research and development of solid-state battery materials, with a focus on lithium bis(trifluoromethanesulfonyl)imide (LiTFSI) for solid-state lithium-ion batteries [2] - The sales revenue from solid-state battery materials currently represents a small proportion of the company's overall revenue [2] Group 2: Joint Ventures and Production - The company has a joint venture named Tai Rui Lian Teng with Tianji Co. and Ningde New Energy (ATL), which produces lithium hexafluorophosphate with an initial capacity of 15,000 tons, launched last year [2] - The Polish production base, Prusice, has a capacity of 40,000 tons per year for lithium-ion battery electrolyte, aimed at meeting local and European demand [3] Group 3: Financial Performance - The company's gross margin has shown a slight decline in 2024 compared to the previous year but remains relatively stable overall [3] - The stability in gross margin is attributed to a short supply chain, a focus on specialized development, and effective management across production, procurement, sales, and R&D [3]

Group 1: Company Overview - The company specializes in the research, production, and sales of IoT intelligent products, focusing on communication, positioning, and AI technologies [1] - In 2024, the company achieved a revenue of CNY 1.402 billion, a year-on-year increase of 24.85%, and a net profit of CNY 176 million, an increase of 0.81% [1] - In Q1 2025, the company reported a revenue of CNY 348 million, a 40.28% increase compared to the same period last year, with a net profit of CNY 40 million, up 14.42% [2] Group 2: Product Highlights - The smart sleep terminal, centered around a smart bed cover, monitors key physiological indicators and optimizes the sleep environment, generating a revenue of CNY 199 million in 2024, a staggering growth of 1,871.25% from 2023 [2] - The product is primarily sold in North America and Europe, with plans to expand into East Asia, the Middle East, and eventually the Chinese market [2] Group 3: Strategic Initiatives - The company has developed a "module + platform + terminal" business model and a "standardized development + scenario customization" R&D model to enhance efficiency and reduce repetitive foundational research [2] - An overseas division has been established to focus on international market expansion, with a steady growth plan for the overseas marketing team in 2025 [3] Group 4: Risk Management - The company advises investors to make rational decisions and be aware of investment risks, particularly regarding industry forecasts and strategic planning [4]

Group 1: Pricing Mechanisms - The water pricing adjustment mechanism allows the company to submit requests to the government for price changes, subject to cost audits and public hearings [2] - The sewage treatment service fee is set at a tentative average price of 2.63 RMB per ton for the 2024-2026 period, with adjustments occurring every 2 to 3 years based on specific conditions [3] Group 2: Accounts Receivable - The company has seen an increase in accounts receivable due to market expansion and is actively managing collections [4] Group 3: Project Developments - The Chengdu Wanxing Environmental Power Plant (Phase III) is under construction, with a waste processing capacity of 5,100 tons per day, sludge treatment of 800 tons per day, and kitchen waste processing of 800 tons per day, expected to be operational by 2026 [5] Group 4: Capital Expenditure and Dividends - The company has significant capital expenditures due to multiple water supply and waste projects, which are expected to decrease as projects come online in the next 1-2 years [5] - The company is focused on increasing cash dividend ratios and aims to enhance shareholder returns once major projects are operational [5]

Group 1: Market Performance and Strategy - The company's products have gained significant recognition in the U.S. market, with over 90% of revenue coming from this region, indicating strong performance in a competitive environment [2][4] - The company has focused its resources on the North American market, prioritizing partnerships with various retail channels to establish a solid brand presence before expanding globally [4] - Plans for future global market expansion are in place to mitigate risks associated with reliance on a single market [4] Group 2: Competitive Landscape - The company is one of the few manufacturers with complete capabilities in smart furniture, including core components, software control, design, and mass delivery [5][6] - Competitors like La-Z-Boy and Tempur Sealy International are recognized for their strong brand influence and operational strategies, which the company aims to learn from [5][6] - The company emphasizes the importance of brand strength, product differentiation, and consumer value as key components of long-term competitiveness [6] Group 3: Retail Expansion - As of Q1 2025, the company has opened over 500 MOTO Gallery stores in the U.S., covering 32 states, and 24 stores in Canada across 3 provinces [7] - This retail network supports the company's brand influence and stable sales growth [7] Group 4: Innovation and Product Development - Despite the perception of limited innovation in electric sofas, the company sees significant opportunities for innovation in user experience, technology integration, and health functions [8][10] - The company believes that true competitive advantage comes from continuous systemic innovation rather than just incremental improvements [8] Group 5: Market Potential and Pricing - The company's main product, the smart electric sofa, is positioned in the mid-to-high-end market, with a relatively high price point [9][10] - The North American market shows a clear trend of consumer demand for functional, comfortable, and technologically advanced home products, indicating growth potential [10] - The high-end market is not static but is expanding, with increasing brand concentration and consumer loyalty [10] Group 6: Production and Capacity - The company's manufacturing base in Vietnam handles a significant portion of U.S. orders, with a current capacity that is high but adjustable [11][13] - There are plans for capacity expansion in response to anticipated business growth, including space expansion and equipment upgrades [11] Group 7: Financial Performance and Shareholder Returns - Since its IPO in September 2021, the company has distributed cash dividends seven times, reflecting a commitment to shareholder returns [12] - Future profit distribution plans will consider industry characteristics, development stages, and macroeconomic factors to balance company growth and shareholder returns [12] Group 8: Trade Policy and Market Adaptability - The company is closely monitoring trade policy changes, particularly regarding tariffs, and has made internal adjustments to ensure supply chain stability [13][14] - The company maintains a flexible operational approach to adapt to potential policy changes, ensuring continuity in service and supply [14]

Group 1: Sales Performance - In the first five months of 2025, China's heavy truck market accumulated sales of approximately 441,000 units, showing a slight year-on-year increase of about 2% [2] - In May 2025, the heavy truck market sold approximately 89,000 units, representing a year-on-year increase of 14% and a month-on-month growth of 1% [2] - The company's production and sales performance is good, maintaining a growth trend compared to the same period last year, outperforming the industry average [2] Group 2: New Energy Heavy Trucks - In the first five months of 2025, the new energy heavy truck industry accumulated sales of 61,200 units, a year-on-year increase of 195% [3] - In May 2025, sales reached 15,100 units, with a year-on-year growth of 190% and a market penetration rate of 23.92% [3] - The company is continuously increasing its market share in the new energy sector, benefiting from advancements in technology and the expanding electrification trend in short- and medium-distance transportation [3] Group 3: Natural Gas Heavy Trucks - In the first five months of 2025, cumulative sales of natural gas heavy trucks were down, with May sales at 14,000 units, reflecting a month-on-month decline of 18% [3] - The company's sales of natural gas heavy trucks are in line with industry trends [3] - Continuous technological improvements in range and performance are narrowing the gap with diesel trucks, and the inclusion of natural gas heavy trucks in the "old-for-new" subsidy policy is expected to benefit the industry [3]

| 编号：20250627 | | --- | | 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 | | 参与单位名称及人 | 华泰证券 王玺杰 | | 员姓名 | 易方达基金 唐博伦 何进阳 | | 时间 | 2025年06月27日 15:00-16:00 | | 地点 | 海南海口市滨海大道157号港航大厦13层 | | 上市公司接待人员姓 名 | 证券事务代表 刘哲 | | | 问：请问公司海口至海安航线票价有无调整？ | | 投资者关系活动主 | 答：海口至海安航线票价近年未发生变动。未来，公司将通过提供港、 | | | 航增值服务及强化新海客运枢纽商业运营等方式提升收入。 | | 要内容介绍 | | | | 问：公司未来股息政策？ | | | 答：公司一直秉持着积极回馈股东的理念，致力于在保证公司可持续 | | | 发展的前提下，为股东创造稳定的股息收益。我们的股息政策将综合考虑 | | | 公司的盈利状况、现金流状况、未来投资计划以及股东的合理 ...

Group 1: Company Performance and Challenges - In 2024, the company faced challenges due to a deep adjustment in the real estate industry and intensified market competition, leading to a decline in plastic profile sales and overall performance losses [2] - The company completed a specific issuance of A-shares in 2023, enhancing its financial strength and capital structure, which improved its risk resistance [2] Group 2: Strategic Focus for 2025 - For 2025, the company aims to focus on high-quality development, emphasizing market penetration, cost control, major project implementation, compliance management, and technological innovation [2] - The company plans to optimize its industrial structure and improve operational quality as part of its growth strategy [5] Group 3: Recent Acquisitions - The acquisition of Kangningte Company aims to expand the production capacity of SCR denitration catalysts and enhance market competitiveness in the central region [3] Group 4: Shareholder Information - As of March 31, 2025, the total number of shareholders is 32,548 [4]

Financial Performance - In 2024, the company achieved total revenue of 2,193.99 million yuan, a growth of 1.03% compared to 2023's 2,171.60 million yuan [1] - The total profit reached 643.94 million yuan, marking a 24.24% increase from 518.28 million yuan in the previous year [1] - Net profit attributable to shareholders was 521.53 million yuan, up 23.79% from 421.30 million yuan year-on-year [1] - In Q1 2025, the net profit after deducting non-recurring gains and losses was 97.67 million yuan, an 11.61% increase from 87.52 million yuan in Q1 2024 [1] Inventory Management - The company has upgraded its inventory management system, utilizing a BI intelligent analysis system and a professional data analysis team [1] - A "finished product inventory standard model" has been established to balance market demand dynamics and cost control [1] - The overall inventory level has significantly improved, maintaining a healthy inventory cycle of 1.5 to 2 months, which supports operational quality and cost optimization [1] Biopharmaceutical Development - Biopharmaceuticals are a key component of the company's dual-wing strategy, facing a challenging market with long R&D cycles and high investment risks [2] - The company is experiencing increased competition and a diverse customer base, leading to some idle capacity in the CDMO supply side [2] - Current revenue from biopharmaceuticals is limited, with ongoing R&D investments and a focus on optimizing cost structures to minimize losses [2] - The company is prioritizing projects with promising clinical data, such as the BC006 injection project, which is nearing completion of Phase I clinical trials [2] Sales Strategy - The company is strategically seeking acquisition opportunities that align with its development goals and can enhance corporate value [2] - Sales expenses are being managed strictly, with a focus on targeted investments in second and third-tier products [2] - The overall sales expense ratio is expected to remain stable, aligning with sales revenue [2]

Financial Performance - In 2024, the company achieved total revenue of 2,193.99 million CNY, a growth of 1.03% compared to 2023's 2,171.60 million CNY [1] - The total profit reached 643.94 million CNY, an increase of 24.24% from 518.28 million CNY in the previous year [1] - The net profit attributable to shareholders was 521.53 million CNY, up 23.79% from 421.30 million CNY year-on-year [1] - In Q1 2025, the net profit after deducting non-recurring gains and losses was 97.67 million CNY, reflecting an 11.61% increase from 87.52 million CNY in Q1 2024 [1] Product Development - The company’s second and third-tier products are showing a positive development trend, with continued support from the company [1] - The sales of the "Xuan Yun Ning" series surpassed 100 million CNY in 2021, with a goal of achieving double-digit growth this year [1] - The company aims for "La Mo San Zhi Pian" to reach the 100 million CNY milestone this year, while other products like "Shu Yan Qing" spray and "Fu Fang Gan Mao Ling" granules are expected to maintain high growth rates [1] - Although second and third-tier products lag behind first-tier in absolute volume, their growth rate is better overall [1] Biopharmaceutical Sector - Biopharmaceuticals are a key part of the company's dual strategy, facing a long R&D cycle and high investment risks [2] - The company is experiencing a challenging environment in the biopharmaceutical sector, with increased competition and diverse customer choices [2] - The company is optimizing its R&D pipeline, focusing on projects with promising clinical data, such as the BC006 monoclonal injection, which is nearing completion of Phase I clinical trials [2] Dividend and Employee Incentives - The company is committed to providing stable returns to investors, maintaining a cash dividend policy since its listing [2] - For 2024, the proposed dividend is 3.5 CNY per 10 shares, totaling 206 million CNY in cash dividends [2] - The first phase of the employee stock ownership plan has improved employee cohesion and competitiveness, with plans to refine performance evaluation mechanisms for future incentive programs [2]