Group 1: Investor Relations Activity - The investor relations activity was an earnings briefing held on May 6, 2025, from 15:00 to 17:00 [3] - The event was conducted online, allowing investors to participate remotely [3] - Key company representatives included the General Manager, Vice General Manager, and Board Secretary [4] Group 2: Dividend Policy - The proposed cash dividend for the 2024 fiscal year is CNY 1.00 per 10 shares (including tax) [4] - The dividend plan considers the company's profitability, capital expenditure, and debt repayment capacity [4] - The company aims to enhance the timeliness of cash dividends while focusing on long-term investor returns and future growth [4] Group 3: Raw Material Price Management - The company plans to strengthen supply chain management and develop quality suppliers to mitigate reliance on specific vendors [5] - A flexible procurement strategy will be implemented to adjust purchasing based on raw material price trends [5] - Increased R&D investment will focus on high-value products that can withstand raw material price fluctuations [5] Group 4: Market Growth and Challenges - Export revenue growth rates for 2024 and Q1 2025 were 16.6% and 33.3%, respectively, while domestic growth rates were 4.4% and -0.6% [6] - The decline in meat powder business revenue impacted domestic growth; excluding this, domestic pet food business grew by 21.3% and 14.7% [6] - The company recognizes the need to improve brand positioning and sales expense allocation due to low gross margins in staple products [6] Group 5: Strategic Initiatives - The company plans to adopt a multi-brand strategy and increase marketing expenses to enhance brand presence [7] - A new brand "Miaoguan" has been launched, focusing on high cost-performance products [7] - Continuous R&D efforts will aim to create differentiated products and improve customer retention and brand influence [7]

Group 1: Company Performance and Orders - The company has a backlog of orders in the nuclear power sector amounting to 141 million yuan, with expectations for growth driven by new projects approved by the State Council [5] - In the marine engineering sector, revenue from wind turbines increased by 83.25% year-on-year, with some orders extending to 2027 due to rising demand for car transport and container ships [6] Group 2: Future Plans and Capacity Expansion - The company plans to enhance production capacity in 2025, supported by the gradual commissioning of its industrial thermal management equipment project, which will increase usable area to 120,000 square meters [7][8] - The company has a robust order book and aims to improve customer site certifications [7] Group 3: Financial and Investment Updates - The renewable energy equipment R&D center project was completed in 2023, while the industrial thermal management equipment project (Phase I) was completed by the end of 2024, with total planned investment of 150 million yuan [9] - As of December 31, 2024, the remaining balance of raised funds was 2.1152 million yuan, with all funds for the industrial thermal management project utilized [9] Group 4: Strategic Initiatives - The company is open to acquisition opportunities that align with its strategic development direction and will inform investors of any significant developments [10] - The company plans to leverage its existing foreign subsidiaries, particularly in Mexico, to enhance customer service and reduce costs through local supply chain advantages [6]

Financial Performance - In 2024, the company achieved a revenue of 1.402 billion CNY, an increase of 24.85% compared to the previous year [3] - In Q1 2025, the revenue reached 348 million CNY, marking a 40.28% increase year-on-year [3] - The net profit attributable to shareholders for 2024 was 176 million CNY, up by 0.81% from the previous year [3] - For Q1 2025, the net profit was 40 million CNY, reflecting a 14.42% increase compared to the same period last year [3] Market Expansion and Growth Drivers - The company is focusing on the commercial vehicle monitoring sector, anticipating a shift towards smart vehicle-mounted video recorders with advanced features [4] - In overseas markets, the company is actively pursuing product certifications in the EU and Americas, aiming to expand its presence in these regions [4] - The company plans to enhance its market share in passenger vehicle positioning terminals while exploring new applications in pet tracking and asset management [4] - The smart travel sector is expected to grow due to the increasing demand for updated shared electric bicycles, driven by new safety regulations [4] Industry Outlook - The company aims to be a leader in the Internet of Things (IoT) sector, leveraging advancements in communication, storage, positioning, and AI technologies [5] - The ongoing technological breakthroughs are expected to accelerate the iteration of IoT products, expanding applications into smart transportation and payment systems [5] - AI technology, particularly models like DeepSeek, is anticipated to drive new growth opportunities within the IoT industry [6] Product Development and Strategy - The company positions itself as a solution provider in the IoT vertical, covering the entire value chain from core technology to end-user applications [7] - It has developed advanced products for smart vehicles, including those with features for driver assistance and monitoring [7] - The company is committed to maintaining a significant R&D investment to enhance its technological capabilities and product offerings [7] Financial Management and Risk Mitigation - In 2024, the company’s export revenue reached 327 million CNY, accounting for 23.35% of total revenue [9] - The company has implemented a foreign exchange hedging policy to mitigate risks associated with currency fluctuations [9] - The impact of tariffs due to the US-China trade conflict is considered minimal, as most raw materials have been domestically sourced [9] Profitability Challenges - The gross margin for smart travel products dropped to 8.52% in 2024 from 16.78% in 2023, attributed to increased competition and pricing pressures [10] - The company is focusing on optimizing product structure and improving operational efficiency to enhance profitability [10] - Despite a slight decline in revenue from smart payment hardware, the overall business remains stable, supported by strong growth in core operations [10]

Group 1: Industry Growth and Opportunities - The rapid development of the new energy vehicle (NEV) industry in 2024 presents significant growth opportunities for the company's automotive fine chemicals business, supported by strong policy backing [1] - The demand for adhesives is increasing due to the automotive lightweight trend, while the upgrade in thermal management is driving the demand for cooling liquids [2] Group 2: Brand Influence and Strategic Planning - The company plans to enhance brand influence through technology-driven brand upgrades, increased R&D investment, and a focus on differentiated advantages in automotive fine chemicals [3] - Strengthening customer cooperation and participating in industry standard formulation are key strategies to enhance brand credibility [3] Group 3: Financial Performance and Market Stability - The company reported that fluctuations in automotive brand sales may exert short-term pressure on revenue, but a diversified customer base mitigates risks associated with reliance on single clients [9] - The company serves over 50 traditional automotive manufacturers and more than 20 new energy brands, with the proportion of new energy customers increasing annually [9] Group 4: International Expansion and Market Development - The company is establishing a wholly-owned subsidiary in Thailand to serve global automotive supply chain needs, with future evaluations of opportunities in other regions based on customer demand and policy environment [5][6] - The automotive aftermarket is expanding due to the increasing number of vehicles, with the company adopting a B2B2C model to integrate original parts resources and establish a nationwide service network [11][12] Group 5: Research and Development Focus - The company is investing in R&D for core chemicals and intelligent materials related to NEVs, including new energy cooling liquids and battery adhesives, to meet the rising technical requirements of the automotive industry [7] - Collaborations with academic institutions and adherence to national standards are part of the strategy to enhance technological reserves [7]

Group 1: Market Conditions and Trends - The dairy industry in China faces pressure from slowing demand, with liquid milk sales slightly declining in 2024. However, the market remains broad, with significant growth potential due to low per capita consumption compared to developed countries [15][17]. - The penetration and coverage rates of low-temperature dairy products are relatively low, indicating substantial room for growth as consumer health awareness increases [14][15]. - The industry is expected to transition towards low-temperature, functional, and scenario-based products over the next decade, with high compound growth rates anticipated for low-temperature fresh milk and functional dairy products [17]. Group 2: Company Performance and Strategy - In 2024, the company achieved a revenue of CNY 10.665 billion and a net profit of CNY 538 million, with a sales net profit margin of 5.15%, an increase of 1.17 percentage points year-on-year [18]. - The company aims to enhance its core business and increase enterprise value through the "Fresh Cube Strategy," focusing on low-temperature fresh milk and low-temperature specialty yogurt as core product categories [12][18]. - The company plans to leverage DTC (Direct-to-Consumer) channels as a key growth engine, actively embracing channel transformation and integration [12][16]. Group 3: Product Innovation and Market Development - The company has launched several successful low-temperature products in 2024, such as the "Multi-Dimensional Crystal Ball" yogurt, which has received positive feedback and contributed to over 20% growth for the brand [5]. - The "24-Hour" fresh milk brand, which emphasizes freshness, has been a significant innovation, with products only sold on the day of production, achieving a unique market position [3]. - The company is committed to continuous product innovation and has introduced new products that cater to current consumer trends, such as low sugar and convenient meal options [5][12]. Group 4: E-commerce and Digital Transformation - E-commerce revenue reached CNY 1.161 billion in 2024, marking a year-on-year growth of 31.93%, with the company actively expanding its digital marketing efforts, including live streaming [6][7]. - The company has implemented a digital platform for user operations, enhancing customer engagement and retention through improved service delivery [19]. - The integration of digital tools in supply chain management has improved food safety and operational efficiency, showcasing the company's commitment to digital transformation [19]. Group 5: Financial Outlook and Challenges - The company anticipates challenges due to fluctuating raw milk prices, which can impact profit margins. However, it has developed a strategic structure to manage costs effectively [8][11]. - The company is focused on maintaining a stable cash flow and has sufficient bank credit to manage potential liabilities related to convertible bonds maturing in the near future [17]. - The overall goal for 2025 includes achieving revenue growth and improving net profit margins while navigating market challenges and leveraging growth opportunities [12][17].

Group 1: Company Overview and Core Competencies - New Times Dahua Electric was established in 1995, focusing on algorithms and software, leading to deep expertise in control technology, which is crucial for the transformation of the manufacturing industry [1] - The company has six specialized subsidiaries, two of which are recognized as national-level specialized and innovative enterprises [1] Group 2: Semiconductor Robotics - The company has developed a fully autonomous semiconductor robot that integrates control, drive, and hardware/software, with a product matrix covering eight series for various semiconductor processes [2] - These products are capable of replacing imported equipment and are already in mass production for various types of chips, including simulation, power, sensor, and LED chips [2] Group 3: Control Technology Features - Since 2015, the company has integrated servo drive and control into a "drive-control integration" technology, enhancing system reliability and efficiency [3] - The control architecture employs a "multi-core heterogeneous" approach, allowing different cores to run various operating systems, optimizing real-time performance [3] - The company possesses a self-controlled real-time operating system, ensuring rapid processing of external events and coordination of real-time tasks [3] Group 4: Developments in Robotics - The company is conducting in-depth research on embodied intelligent and humanoid robots, with plans to launch such robots by the end of 2025 [4] Group 5: Collaboration with Haier - The transaction with Haier Group has not yet been finalized, but post-acquisition, both parties aim to enhance collaboration to improve asset management efficiency and capture emerging market opportunities [5][6] - The partnership will leverage Haier's industrial internet platform to strengthen the synergy in the industrial automation supply chain, enhancing the company's competitive edge and profitability [6]

Group 1: Company Strategy and Performance - In 2025, the company aims to implement a development strategy titled "Gathering Strengths to Lead the Tide, Riding the Wave to Compete" to enhance operational efficiency and expand into new markets [2] - In 2024, the company achieved a revenue of CNY 65.821 billion, with a total profit of CNY 870 million and a net profit of CNY 651 million, maintaining industry-leading profitability [3] - In Q1 2025, the company reported a revenue of CNY 12.737 billion and a net profit of CNY 142 million [4] Group 2: Financial Management and Cost Control - The company implemented strict cost control measures, resulting in a reduction of financial expenses by CNY 80.2518 million, a decrease of 51.72% [4] - Total liabilities decreased by 10.45%, and the asset-liability ratio fell from 48.70% to 45.55%, a decline of 3.15% [4] - The gross profit margin improved from 3.25% to 4.40% in 2024 [4] Group 3: Investment and Partnerships - The company established an industrial fund with ShenZhiCheng Investment to invest in quality enterprises in the smart terminal, AI, and low-altitude economy sectors [3] - The Shenzhen Aishide Smart City Industrial Investment Partnership has completed registration and is progressing with investment operations [4] - The company maintains a strategic partnership with Honor, focusing on enhancing brand value and market presence [6] Group 4: Market Position and Sales Performance - The company serves over 2,700 Apple authorized stores and has established 200 self-operated Coodoo Apple APR stores, leading the APR channel scale [6] - In 2024, the company achieved a communication product revenue of CNY 58.467 billion, with a gross margin increase of 1.54 percentage points to 3.82% [6] - The company’s market share for Honor in Hong Kong reached 17.1% in August 2024, ranking second in the market [8] Group 5: Digital Transformation and Innovation - The company leverages a digital distribution and retail model, enhancing operational efficiency through digitalization and smart management [8] - The company’s self-owned brands, including "Tea Xiaokai" and "UOIN," have seen significant sales growth, with "Tea Xiaokai" achieving over 125% year-on-year sales increase [8] - The company is expanding its instant retail business, achieving over 50% growth in online sales for Coodoo [9]

Group 1: Financial Performance - The company achieved a revenue of 533 million yuan in 2024, with a net profit of 53.02 million yuan attributed to shareholders [6] - The sales gross margin increased from 22.77% in Q1 2023 to 52.75% in Q1 2025, driven by growth in the lithium extraction segment and new product sales [2] Group 2: Investment and Growth Strategy - The company plans to focus on the development and innovation of separation materials and technologies, aiming to become a leader in the membrane separation industry [3] - Future investments will be directed towards mergers and acquisitions to promote business development and enhance shareholder returns [3] Group 3: Market Expansion and Competitive Advantage - The company aims to expand its overseas market presence by establishing offices and partnerships, leveraging its high-performance membrane materials and cost control capabilities [3] - The competitive advantages in the water treatment sector include significant R&D capabilities and project implementation expertise [7] Group 4: Research and Development - In 2024, the company invested 56.23 million yuan in R&D, accounting for 10.54% of its revenue, with a focus on optimizing its R&D system [9] - The fourth-generation lithium adsorption agent has improved adsorption capacity by 30%-50% compared to previous generations, enhancing lithium extraction efficiency and reducing costs [11] Group 5: Environmental and Regulatory Compliance - The company is committed to upgrading its technology to meet increasingly stringent environmental standards in water treatment [13] - The membrane integration technology solutions are tailored to meet specific industry requirements, ensuring compliance with production processes [12]

证券代码：002312 证券简称：川发龙蟒 四川发展龙蟒股份有限公司投资者关系活动记录表 编号：2025-002 | 投资者关 | 特定对象调研 分析师会议 | | --- | --- | | 系活动类 | 媒体采访 业绩说明会  | | 别 | 新闻发布会 路演活动 | | | 现场参观 其他 | | 参与单位 名称及人 | 面向全体投资者 | | 员姓名 | | | 时间 | 2025 年 5 月 7 日下午 15:00-17:00 | | 地点 | 深圳证券交易所"互动易"平台（http://irm.cninfo.com.cn）"云访谈"栏目 | | 上市公司 | 董事长：朱全芳 董事、总裁：王利伟 | | 接待人员 | 独立董事：张怀岭 财务总监：朱光辉 | | 姓名 | 职工董事、董事会秘书：宋华梅 | | | 一、业绩说明会 | | | 2025 年 4 月 28 日，公司披露了《关于举办 2024 年度网上业绩说明会的公告》，为 | | | 充分尊重投资者、提升交流的针对性，公司提前向投资者公开征集了问题。公司广泛听取 | | | 投资者的意见和建议，参会人员对投资者关注的问题进 ...

Financial Performance - In 2024, the company achieved an operating revenue of 9.049 billion yuan, a year-on-year increase of 11.90% [2] - The net profit attributable to shareholders was 1.996 billion yuan, with a growth of 8.28% [2] - In Q1 2025, the operating revenue reached 1.15 billion yuan, a year-on-year increase of 20.23% [2] - The net profit attributable to shareholders in Q1 2025 was 508 million yuan, growing by 11.19% [2] - The net cash flow from operating activities in Q1 2025 was 115 million yuan, a significant increase of 526.47% [2] Strategic Goals for 2025 - The company aims to expand its main business and enhance project construction to improve industry scale and development momentum [3] - Focus on technological innovation and resource integration to enhance core competitiveness [3] - Continue to promote standardized and digital transformation to improve operational efficiency [3] Market Expansion Plans - The company will deepen its focus on the local market in Chengdu while exploring opportunities in other regions [3] - Plans to enhance the market share of recycled water and promote the "waste-free city" concept [3] Environmental and Social Responsibility - The company is committed to sustainable development and improving resource utilization efficiency [5] - It aims to support rural revitalization and fulfill social responsibilities through various initiatives [5] Future Growth Drivers - The company will optimize resource allocation and enhance management to improve profitability [4] - Focus on expanding into niche markets such as direct drinking water and kitchen waste disposal [4] - Emphasis on technology innovation and collaboration with academic institutions to boost R&D capabilities [4] Investment and Capital Expenditure - Planned projects for 2025 include a kitchen waste disposal plant with a capacity of 100 tons/day and a sewage treatment plant with a capacity of 800 tons/day [5] - Future investment expenditures are expected to maintain an average level over the next 1-2 years [6] Industry Outlook - The water and environmental protection industry is expected to maintain stable long-term growth, with increasing market demand and regulatory pressures [4] - The company is focusing on enhancing operational management through professional and detailed approaches [4]