Group 1: Company Overview and Financial Performance - The company reported a revenue of 1.873 billion CNY for the first half of 2025, a slight decrease year-on-year due to reduced heating income from industrial park coal-fired centralized heating projects [3] - The non-recurring net profit reached 146 million CNY, representing a year-on-year increase of 150.33%, attributed to lower fuel costs and an increase in biomass project numbers benefiting from VAT policy [3] - The company announced its first interim cash dividend of 110 million CNY [3] Group 2: Future Outlook and Strategic Initiatives - The company aims to advance two transformation strategies: non-electric revenue transformation and asset-light transformation, in collaboration with strategic partners [4] - The third batch of CCER methodology is expected to create three revenue streams for biomass cogeneration projects: electricity generation, heating, and CCER trading [4] Group 3: CCER Participation and Benefits - The company has provided professional opinions for the third batch of CCER methodology as an industry representative [5] - Projects under the new CCER methodology could potentially yield over 120,000 tons of voluntary carbon reduction annually for a 30MW biomass cogeneration project, although this is an estimated figure based on pure electricity generation [8] - The CCER application process allows for a maximum duration of 10 years for individual projects [9] Group 4: Collaboration with Zhongke - The partnership with Zhongke Hongyuan is based on mutual recognition of future development prospects and investment value [12] - The company acquired 49% of Zhongke Xinkong's big data company to enhance operational efficiency and reduce costs [13] Group 5: Operational Insights and Market Position - The decline in fuel costs significantly contributed to profit growth, particularly from the biomass fuel segment [16] - The company is planning to expand the Maoming project to meet customer demand, which is expected to increase heating capacity [17] Group 6: Shareholder Engagement and Market Value - The company is preparing sufficient funds to address the maturity of convertible bonds, including proceeds from project sales [18] - The management's decision for interim dividends is based on improved cash flow and development plans, adhering to shareholder return policies [19]

| 始终坚持以投资者为本，高度重视投资者的投资回报。截至目 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 前，公司已完成第一期和第二期股份回购，通过集中竞价交易 | | | | | | | | 方式进行股份回购合计 | 元，回购股份全部予以注 | 115,569,086.55 | | | | | | 销，减少注册资本。 | | | | | | | | 公司高度重视股东回报与长期价值提升，未来是否启动新 | | | | | | | | 一轮回购，将结合市场情况和公司实际情况综合评估。感谢您 | | | | | | | | 的关注！ | | | | | | | | 七、请问公司目前有使用超募资金继续收购公司完善半导 | | | | | | | | 体产业链的意向吗？ | | | | | | | | 尊敬的投资者，您好！半导体产业链的拓展是公司长期关 | | | | | | | | 注的方向之一，公司将结合半导体行业技术趋势及自身业务协 | | | | | | | | 同需求综合判断，持续审慎探索半导体产业链的整合机会，合 | | | | | ...

Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 405 million, a year-on-year decrease of 39.66% [1] - The net profit attributable to shareholders was 347 million, representing a year-on-year increase of 406.00%, marking a turnaround from losses [1] Group 2: Restructuring Impact - The restructuring process has resolved historical debt issues and significantly optimized the asset-liability structure [2] - Strategic investors, including China Credit Capital and other strong investors, have been introduced to support sustainable development [2] Group 3: Business Development - The company is actively developing a second growth curve alongside its primary payment business, having established several subsidiaries focused on technology [2][6] - The main business remains third-party payment services post-restructuring [4][5] Group 4: Regulatory and Licensing Matters - The company is in close communication with regulatory authorities regarding the renewal of its payment license, with ongoing efforts to expedite the process [3][5] - The subsidiary, Heli Bao, is actively pushing for the renewal of its payment license, with updates to be disclosed in official announcements [5] Group 5: Future Strategies - The company plans to explore opportunities in stablecoins and cross-border payment solutions, aligning with industry trends and regulatory frameworks [3][5] - The strategic vision includes leveraging AI to enhance payment services and create a comprehensive smart technology ecosystem [6]

Group 1: Company Performance and Strategy - The company aims to enhance its profitability by optimizing its business structure and expanding into high-value-added product markets, particularly in aluminum processing, paper packaging materials, and functional films [2][3] - The company has developed high-performance battery aluminum foil products, which have passed customer validation and are now in mass production, contributing to the growth of its aluminum processing business [2] - The company plans to continue focusing on improving operational performance as a core aspect of its market value management strategy [3][4] Group 2: Financial Performance and Market Position - The company reported a loss in net profit for the first half of the year, primarily due to increased domestic and international aluminum price discrepancies, declining processing fees, and new capacity still ramping up [3][4] - As of September 10, 2025, the total number of shareholders, including credit accounts, was 47,391 [4] - The company has implemented measures such as share buybacks and major shareholder increases to maintain market value despite being in a prolonged undervalued state [4] Group 3: Product Development and Market Demand - The company supplies battery aluminum foil to several leading battery manufacturers, with applications depending on customer demand [3] - The company holds a leading position in the domestic market for AR anti-reflective film products, with ongoing developments in the functional film sector [3] Group 4: Future Outlook - The company is optimistic about reversing its performance trends and achieving growth in the solid-state battery and consumer electronics supply chains [3] - Future decisions regarding the redemption of convertible bonds will be made by the board of directors, with timely disclosures to be provided [2]

Group 1: Investor Relations Activity - The investor relations activity was conducted as an analyst meeting and media interview [1] - The meeting took place on September 19, 2025, from 15:30 to 17:00 via an online platform [1] - Key company representatives included Chairman Wu Kaixian, General Manager Wu Senjie, and Financial Director Wang Baoyu [1] Group 2: Shareholder Information - The fifth and sixth largest shareholders are Naqu City Wuwei Enterprise Management Co., Ltd. and Qingdao Henglan Investment Co., Ltd., holding 2.00% and 1.77% of the shares, respectively [1] - Both shareholders are under the same control and acquired their shares through a non-public offering in 2016 [1]

Group 1: Company Performance - The company currently has sufficient orders and is experiencing good operational conditions [2] - The capacity utilization rate is reasonable, with no delays in delivery due to insufficient capacity [3] Group 2: Strategic Partnerships - The company has a strategic partnership with KUKA, focusing on automation solutions and intelligent manufacturing systems [3] - Collaboration with KUKA aims to explore new models, technologies, and applications in the industrial robotics sector [3] Group 3: Robotics Division - The company has established a robotics division that primarily supports its main products and provides complete solutions to customers [3] - The robotics division is actively seeking investment opportunities that align with the company's development needs [3]

Group 1: Investor Relations Activities - The company held an investor relations event on September 19, 2025, from 14:00 to 17:00, via an online platform [2] - The event included a performance briefing for investors and addressed various questions raised by them [2] Group 2: Company Performance and Strategy - The company is focused on sustainable high-quality development, enhancing business outreach, and expanding into water environment governance and industrial wastewater treatment [3] - The company aims to strengthen its core competitiveness in the packaging and printing sector while actively responding to national dual carbon policies [3] Group 3: Shareholder Engagement and Market Stability - The company has implemented a profit distribution policy, with cumulative cash dividends from 2022 to 2024 expected to account for approximately 122% of the average annual net profit attributable to shareholders during that period [3] - The company emphasizes the importance of investor relations management, enhancing information disclosure, and ensuring compliance to protect investors' rights [3] Group 4: Stock Price and Market Factors - The company acknowledges that stock price fluctuations are influenced by various factors and commits to improving its operational efficiency and information disclosure [3] - The company has not disclosed any negative news that could impact stock performance and does not have plans to withdraw from the market [3]

Financial Performance - The company achieved a revenue of 376.52 million yuan in the first half of 2025, representing a year-on-year growth of 7.71% [2][3] - The net profit attributable to shareholders for the same period was 16.25 million yuan, showing a significant increase of 121.61% compared to the previous year [3] - Revenue from the flat panel display automation business reached 107.82 million yuan, up 88.19% year-on-year [2] - Revenue from X-ray detection automation business was 83.71 million yuan, reflecting a growth of 83.36% [2] - Revenue from high-end materials business was 113.24 million yuan, with a year-on-year increase of 6.81% [2] Debt Management - The company's asset-liability ratio decreased from 85.85% at the end of 2024 to 84.54% as of June 30, 2025 [4] - Measures taken to address high debt levels include optimizing asset structure by clearing loss-making enterprises and idle assets [4] - The company plans to issue shares to the controlling shareholder to raise funds, which could effectively reduce the asset-liability ratio and enhance debt repayment capability [4] Business Development - The company is actively expanding into the semiconductor and electronic manufacturing sectors, although current business scale in these areas is still small [5] - Focus remains on providing industrial inspection, automation, and intelligent manufacturing solutions primarily for lithium battery, PCB, and flat panel display industries [5] - The company aims to enhance its risk resistance through technological extension and diversified layout in emerging markets [5] Shareholder Concerns - The company has not distributed dividends for 5-6 years due to negative retained earnings [2] - As of September 10, 2025, the number of shareholders was reported at 47,505 [3] - The company acknowledges the volatility of stock prices influenced by multiple factors and emphasizes ongoing efforts to align market value with intrinsic value [2]

Group 1: Company Performance and Market Conditions - The company's stock performance is influenced by multiple factors including market environment, industry competition, and policy adjustments, which do not fully reflect its long-term value [2] - The company reported a loss in the first half of 2025, despite winning several projects with major clients like China Mobile and China Unicom [2] - The management is committed to improving operational performance and internal value, focusing on strategic business development [4] Group 2: Future Outlook and Investor Relations - The company will provide updates on operational profitability for the second half of 2025 in future regular reports [4] - The management acknowledges the impact of stock price fluctuations and emphasizes ongoing efforts to enhance market competitiveness and risk management [4] - There are ongoing legal proceedings related to securities false statement claims, with a total litigation amount of RMB 27,271,275.99, which may affect future profits [6]

答：尊敬的投资者您好！公司持续优化经营管理，提升经营效益，密切关注 行业与市场形势变化，积极把握市场发展机遇。如有并购相关业务，公司将严格 按照相关法规的规定及时履行信息披露义务。感谢您的关注！ 4、请问董事长杨文江先生，您自 2025 年 7 月底开始连续减持，到目前为止 己减持995.25万股，是公司经营资金周转不足还是您对自己公司的发展信心不足? 您在本次交流会中有新的公司动态要公布吗？如没有也就没有什么可以交流的 了，谢谢。 证券代码： 002177 证券简称：御银股份 广州御银科技股份有限公司 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 □ 其他 （请文字说明其他活动内容） 参与单位名称及 人员姓名 投资者网上提问 时间 2025 年 9 月 19 日 (周五) 下午 15:30~17:00 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 员姓名 1、董事长兼总经理：杨文江 2、董事、副 ...