Group 1: Overview of Collaboration - HaiSiKe's PDE3/4 overseas authorization aims to achieve a win-win model by retaining Chinese rights while sharing overseas profits, accelerating the molecule's international deployment [2] - The company anticipates a period of international harvest and business development explosion in 2026, with ongoing expansion into oncology and large molecules [2] - The TYK2 project (FTP637) successfully entered overseas markets through a NEWCO model, completing phases 1-3 of clinical trials in about five years [3] Group 2: Key Collaboration Details - Transaction partner: AirNexis, led by Frazier Fund, with a transaction amount exceeding $1 billion, including an upfront payment of over $100 million and milestone payments of $955 million, along with double-digit sales sharing [3] - AirNexis is responsible for overseas clinical development and commercialization, while HaiSiKe retains rights for HSK39004 in China and global exclusive rights for combination formulations [3] - HaiSiKe's focus is on long-term benefits and overseas development efficiency while ensuring the protection of Chinese rights [4] Group 3: Clinical Progress and Differentiation - HaiSiKe is advancing both inhalation suspension and dry powder inhalation formulations, with the latter being globally leading [5] - The key phase 2 data in China is expected to be released in Q1 2026, with plans to initiate phase 3 studies for COPD in Q2 2026, aiming for NDA submission by late 2027 or Q1 2028 [5] - AirNexis plans to conduct population pharmacokinetics studies, with an NDA submission in the U.S. anticipated by Q4 2028 and potential approval by Q1 2030 [5] Group 4: Future Development and Opportunities - HaiSiKe is actively pursuing multiple projects in CNS and oncology, with hopes to initiate 1-2 key clinical trials in oncology by 2026 [7] - The company aims to independently conduct clinical research in the U.S. to generate proof-of-concept data before seeking external authorization partnerships, which could lead to larger transaction amounts [7] - Future collaborations may also involve platform-based R&D capabilities with leading multinational pharmaceutical companies or top-tier overseas investment funds [7] Group 5: Research and Development Focus - The R&D direction will focus on perioperative, respiratory, autoimmune, and oncology fields, expanding into biologics, ADCs, and cyclic peptides [8] - Short-term goals include advancing the approval of环泊酚 in the U.S., while mid-term goals involve achieving overseas market entries for DPP1 and PDE3/4 projects [8] - Long-term objectives include learning international market regulations and building a scalable overseas team [8]

证券代码： 300286 证券简称：安科瑞 编号：2026-001 安科瑞电气股份有限公司投资者关系活动记录表 5.产品研发迭代的核心方向是什么？ 答：研发迭代聚焦三大方向：一是 AI 与能源管理深度融合，持续优化 EMS 3.0 平台算法，提升负荷预测精度与能源调度效率，拓展数字孪生 + 区块链碳 追踪等创新功能，适配住建部碳足迹管理试点需求；二是绿色低碳产品创新，重 点开发适配分布式光伏、储能的防逆流保护装置、微电网能量管理控制系统等产 品，助力用户实现绿电消纳与节能降耗；三是行业定制化升级，针对轨道交通、 石化、数据中心等重点行业的特殊需求，优化产品的环境适应性与功能适配性， 同时推进硬件产品的小型化、智能化与无线化升级。 6.2025 年公司行业推广的核心目标与策略是什么？ | | ■特定对象调研 □分析师会议 □媒体采访 □业绩说明会 | | --- | --- | | 投资者关系活动 | | | 类别 | □新闻发布会 □路演活动 | | | ■现场参观 □一对一沟通 | | □其他 | （电话会议） | | 见附件 | | | 参与单位名称 | | | 时间 2026 | 年 1 月 8 日 | ...

Group 1: Company Overview - Anhui Honglu Steel Structure Group's production capacity reached 5.2 million tons in 2025, marking an 11.3% increase from the previous year [7] - The company has ten production bases, with approximately 3,000 welding robots deployed across these sites [2] Group 2: Technological Advancements - The company has actively pursued smart manufacturing, introducing advanced equipment such as high-power laser cutting machines and industrial welding robots [2] - The "Honglu Master Riveting Detection Robot" has been developed for full-process operations on six types of components, with limited deployment in production bases [2] Group 3: Financial Performance - In 2025, the company signed new sales contracts totaling approximately RMB 29.102 billion, a 2.84% increase year-on-year [7] - The pricing strategy for products is based on "material cost + processing fee," with a focus on enhancing product quality and service delivery [5] Group 4: Future Plans - The company is considering expanding its overseas business based on market demand, although current clients are primarily domestic [3] - Plans for 2026 include optimizing control over production processes to enhance core competitiveness [4] Group 5: Investor Relations - The company is committed to timely information disclosure regarding convertible bond adjustments and will consider various factors in decision-making [6] - Investors were shown the company's production operations through a video monitoring center during the investor relations activity [1]

Group 1: Impact of Raw Material Prices - Recent increases in copper and other metal prices have affected the company's raw material costs, but the company employs a cost-plus pricing model to adjust prices based on customer requirements and production factors [1] - The company is actively pursuing new materials and processes to meet customer demands while managing procurement based on order volume and price trends [1] Group 2: Market Position and Competition - The company's market share in the zipper business is relatively small due to a lack of comprehensive industry statistics [1] - The apparel accessories industry is characterized by low concentration and intense competition, particularly in the mid-to-low-end product segments, with increasing challenges for small and medium enterprises [2] - As consumer demand shifts towards mid-to-high-end brands, larger companies with strong competitive advantages are likely to benefit, leading to further industry consolidation [2] Group 3: Company Operations and Future Outlook - The company established a wholly-owned subsidiary, SAB AMERICA INC., in the U.S. in 2024 to better serve local customer needs, with normal operational status [3] - The company maintains a cautious outlook on short-term industry recovery due to current international trade conditions and consumer sentiment, but is optimistic about long-term growth in the apparel accessories sector [4] - Future capital expenditures will focus on smart manufacturing improvements and overseas capacity expansion, with a commitment to risk control [6] Group 4: Financial Guidance and Dividend Policy - Detailed performance guidance for 2026 will be provided in future announcements, with a focus on long-term development goals outlined in the company's sixth equity incentive plan [5] - The company adheres to a sustainable development philosophy, considering annual profits, future needs, and shareholder interests when formulating profit distribution plans [7]

投资者关系活动记录表 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 人员姓名 西部证券 刘小龙 时间 2026 年 1 月 12 日 地点 公司会议室 上市公司接待人 员 董事会秘书董旭海、董事会办公室人员 投资者关系活动 主要内容介绍 投资者：氨纶情况？ 答：氨纶的底部基本确认了，行业中有经营困难和计划要退 出的企业，对市场的影响还得继续观察。 投资者：公司产品在航天的应用主要是芳纶纸吗？ 答：主要是芳纶纸。 投资者：主要用在哪方面？ 答：整流罩等方面。 投资者：在这一领域的价格怎样? 答：在芳纶蜂窝领域的价格要稍微贵一些，性能要求不同。 投资者：主要是供应哪里？ 答：供应芳纶蜂窝生产厂家。 投资者：氨纶的情况？ 答：2025 年同比有所减亏，2026 年这一趋势预计还会继续。 1 投资者关系活动记录表 证券代码：002254 证券简称：泰和新材 泰和新材集团股份有限公司 投资者关系活动记录表 编号：2026-009 | | 投资者：减亏的主要原因是什么？ | | --- | --- | | | 答：主要是公司内部 ...

四川国光农化股份有限公司 投资者关系活动记录表 证券代码： 002749 证券简称：国光股份 四川国光农化股份有限公司投资者关系活动记录表 编号：2026-001 | | ☑特定对象调研 | □分析师会议 | | --- | --- | --- | | 投资者关系 | □媒体采访 | □业绩说明会 | | 活动类别 | □新闻发布会 | □路演活动 | | | □现场参观 | | | | □其他（ ） 国投证券 | 王华炳 | | | 弘尚资产 | 沙正江 | | | 盘京投资 | 乔昱焱 | | 活动参与人员 | 友安众晟资产 | 葛碧州 | | | 华泰资管 | 骆昊游 | | | 国光股份 | 董事会秘书颜铭、证券事务代表李超、证券投资部 | | | 副部长向阳 | | | 时间 | 2026 年 1 月 9 日 | | | 地点 | 公司龙泉办公区 | | | 形式 | 现场会议 问 1：2025 | 年，农药行业监管政策主要有哪些变化？对行业有什么 | | | 影响？ | | | | 答：2025 | 年，农业农村部等主管单位继续完善农药管理法规体 | | | | 系，深化重点领域监管，推动农药产业 ...

| 驰、宝马、奥迪、大众、福特、通用、斯特兰提斯、保时捷等 | | --- | | 众多外知名海外客户建立起了合作关系。 | | Q3、公司固态电池目前进展？ | | 公司固态电池当前已经实现了连续化的试生产，并且在试 | | 生产过程中展现出较好的一致性。 | | Q4、公司固态电池性能上有何特点或优势？ | | 公司固态电池具有较高的安全性，通过了第三方检测机构 | | 的针刺、加热和过充电等安全试验，以及锂电池国际航运和陆 | | 运所需的 UN38.3 认证。 | | 公司固态电池另一个特点是具有较好的耐高温性能，依靠 | | 自然散热，即可在较高温度条件下连续正常工作。公司固态电 | | 池的耐高温特性，将为公司固态电池在狭小空间和场景下的应 | | 用提供更优的适配性。 | | Q5、公司固态电池在材料端与其他厂商的主要差别在哪？ | | 电解质材料体系的配方是公司固态电池技术的核心商业 | | 秘密，也是公司 2018 年投入固态电池研发以来不断摸索和迭 | | 代的成果。同时，公司掌握了固态电池材料体系的工艺窗口， | | 可以根据不同客户要求进行方案的定制化开发，以匹配不同应 | | 用场景 ...

| | ☑特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 业绩说明会 | | 投资者关系活动类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 | | 活动参与人员 | 汇添富基金：刘高晓、高田昊等 | | | 申万宏源证券：邵靖宇、陈陶 | | 时间 | 2026 年 1 月 9 日 | | 地点 | 公司会议室 | | 形式 | 现场交流 | | 上市公司接待人员 | 董事会秘书 刘月刚 | | 姓名 | 证券事务代表 柳青 | | | 互动沟通主要内容如下： 一、介绍公司近期生产经营情况 | | | 近期园区整体生产经营情况正常，公司继续加强生产企业的冬季 安全管控，大力度开展节能降耗、提质增效，规避市场风险，紧跟相 | | | 关政策及行业发展动态，结合公司实际情况动态调整，统筹分析预判 | | | 市场变化，及时调整生产经营策略，发挥园区一体化优势，力争把握 | | 交流内容及具体问答 记录 | 市场机遇，实现经济效益最大化。 | | | 二、沟通了解 2025 年四季度产品市场变化情况 | | | 第四季度，受同行企业及下游企业开工率波 ...

Group 1: Customer Collaboration - The company has been collaborating with customer G for several years, transitioning from consumer electronics to server business, with an order amount reaching hundreds of millions in 2025 [2] - For customer N, the company provides testing services for PCBA motherboards, with mass production expected to begin in 2025, and a projected equipment demand in the low four-digit range for 2026 [2][3] Group 2: Product Development and Progress - The company's liquid cooling module is currently used in testing equipment, with small batch shipments to customer N and plans to integrate it into cabinets [3] - The robotics business is addressing customer T's testing needs, with individual units priced over one million [3] Group 3: Revenue Expectations - In the AI server testing sector, the company anticipates significant growth, with a high revenue contribution from customers G and M in Q3 [3] - The automotive electronics business is expected to account for 20% of revenue in 2025, with continued market demand growth in 2026 [3][4] Group 4: Market Opportunities - In the consumer electronics sector, stable revenue is expected from testing equipment for mobile phones and tablets, with potential growth in AI glasses [4] - The company aims to transition to a component supplier, leveraging insights gained from collaboration with customer N to explore new market opportunities [4]

Company Overview - Aipeng Medical focuses on medical devices, specializing in pain management and upper airway management, while also exploring brain-computer interface innovations [5] - The company has a strategic partnership with Ruishen'an Medical, a leading player in the neuroregulation field in China [5] Product Competitiveness - The "Multimodal ADHD Behavioral Training System" integrates data connectivity between in-hospital and home training environments, addressing both medication and behavioral training as primary treatment options [6] - The system aims to provide a comprehensive training solution, mitigating risks associated with traditional single behavioral training products [6] Clinical Applications - The Persistent Insomnia Anesthesia Treatment System has been implemented in hospitals, showing promising treatment outcomes and attracting interest from sleep and anesthesia specialists [7] - The company’s EEG collection products are essential components of the ADHD treatment system, with relevant pricing established in various provinces [9] Future Investments - Aipeng Medical plans to continue exploring brain-computer interface opportunities aligned with its strategic direction, focusing on sensor technology, signal processing, and clinical applications for mental health disorders [10] - The establishment of an AI and Brain-Computer Engineering Research Institute aims to drive innovation in pain management, anesthesia, and mental health diagnostics [10] Business Progress of Ruishen'an - Ruishen'an has successfully launched several products, including the implantable vagus nerve stimulator and the rechargeable spinal cord stimulator, generating revenue [11] - The first domestic implantation of a closed-loop neurostimulation system for Parkinson's disease is expected to occur by the end of 2025, marking a significant advancement in clinical practice [11]