Group 1: Company Overview - Zhejiang Rifa Precision Machinery Co., Ltd. is a leading supplier in the bearing manufacturing equipment sector, with a strong market share in China [3] - The company has developed a comprehensive solution provider for cold processing, covering various product lines including CNC grinding machines and assembly lines [3] Group 2: Product Offerings - Rifa's product range includes seven major series such as bearing grinding automatic lines, CNC thread grinders, and CNC lathes, catering to diverse industries including automotive and aerospace [3][4] - The CNC thread grinding equipment is designed for high-precision applications in sectors like new energy vehicles and industrial automation, with ongoing market expansion [4] Group 3: Development Plans - The company aims to focus on R&D, improve product details, and enhance production efficiency to create high-precision and intelligent products [4] - Future development will prioritize tracking technological advancements in downstream clients and enhancing product development in relevant fields [4] Group 4: Strategic Decisions - The sale of the stake in Italian company MCM is part of a strategic move to optimize asset structure and concentrate resources on core business areas [4][5] - This strategic decision is expected to support the company's long-term development and align with its strategic planning [5]

Group 1: Robotics and AI Technology - The company has developed core technologies for financial robots, including a large model, expert knowledge base, biometric identification, and high-speed currency verification, with the G100 super cabinet robot prototype already in testing at bank branches [2][3] - The AI ecosystem includes a comprehensive product system from platform to large models, with applications in finance, government, and transportation, successfully implemented in major projects [3] Group 2: Digital Payment Business - The company aims to create a comprehensive product and service system for "payment + settlement + tax compliance + value-added services," enhancing the financial technology ecosystem [4] - The company is focusing on digital RMB payment services, leveraging its early advantages in the field, and has launched cross-border RMB payment products through its subsidiary [4] Group 3: Digital RMB Platform - The North Bay Digital RMB Comprehensive Service Platform was launched in September 2025, serving over 2,800 merchants and facilitating more than 100 large commodity transactions worth 589 million yuan [5][6] - The platform has achieved a satisfaction score of 9.5 and has conducted 12 promotional activities, demonstrating effective implementation in cross-border trade and public services [5] Group 4: AI Application Projects - The company won a bid for an AI application pilot base construction project with a total bid amount of 308 million yuan, focusing on "AI + life health" [6] - The project will utilize domestic computing power and the company's proprietary technologies to support the integration of AI in public health scenarios [6]

Group 1: Company Strategy and Development Plans - In 2025, the company focused on retail channel construction and implemented a store efficiency enhancement project, leading to significant growth in retail revenue through dealer empowerment [1] - For 2026, the company plans to expand the store efficiency project to cover more stores and replicate refined management practices across e-commerce channels to drive overall channel improvement [1] - The company aims to strengthen product and marketing efforts, enhance flagship products, and optimize sales structure to improve gross margin [1] Group 2: Product Innovation and Collaboration - The company launched new products, including the Hongmeng Smart Shower, to lay a foundation for future growth [1] - Continued collaboration with Hongmeng Smart is expected to enhance operational capabilities in product planning, development, and market launch processes [1] Group 3: Market Competition and Differentiation - The current market remains competitive, and the company intends to leverage opportunities through smart product upgrades and refined retail operations to establish a differentiated competitive advantage [2]

Group 1: Business Overview and Product Applications - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers that manage thermal energy across a temperature range of -271°C to 200°C [3]. - Products are widely used in various industries, including food processing, cold chain logistics, industrial refrigeration, commercial air conditioning, and energy recovery systems [3]. - The company has developed a range of innovative technologies for nuclear power applications, including cooling systems and heat recovery solutions, supporting multiple nuclear power stations in China [6][7]. Group 2: Data Center and Cooling Systems - The company’s subsidiaries provide cooling equipment for data centers, including evaporative condensers and closed cooling towers, with significant projects completed in both domestic and international markets [4][5]. - The proportion of centrifugal chillers, particularly magnetic levitation types, is increasing in the data center market, while the share of screw chillers is declining [6]. - The company has established a global after-sales service system supported by overseas manufacturing bases, enhancing its competitive edge in the market [6]. Group 3: Heat Recovery and Energy Management - The company is actively involved in heat management solutions, focusing on industrial heat pumps and waste heat recovery technologies, with a goal to align with national carbon reduction policies [8][10]. - The company has been recognized as a national-level "little giant" enterprise, holding numerous patents and awards for its innovative heat recovery technologies [9][10]. - The company’s technologies are expected to transition from optional to mandatory under upcoming national policies, indicating a long-term demand for its solutions [10]. Group 4: Aerospace and Fusion Energy Applications - The company produces liquefaction units for aerospace fuels, including hydrogen and methane, and has developed a high-efficiency helium screw compressor for liquefaction applications [11][12]. - The helium compressors are critical for cooling superconducting magnets in controlled nuclear fusion devices, operating at near absolute zero temperatures [11][12]. - The company has supplied helium compressors for major national scientific research projects, contributing to advancements in frontier technologies [11].

Group 1: Event Overview - The investor relations activity took place on February 5, 2026, at the company headquarters, attended by 8 representatives from various financial institutions [1]. - The event included a tour of the company exhibition hall, Zhenbao Museum, and a visit to the Chaohongji jewelry stores and "Zhen" experience center [1]. Group 2: Q&A Session Highlights - Participants engaged in discussions regarding the company's performance forecast, the "One City, One Intangible Cultural Heritage" initiative, store openings, and overseas store status [1]. - Topics also covered included changes in product structure, new product planning, e-commerce operations, women's bag business, and the impact of gold price fluctuations [1]. - The communication adhered strictly to regulations, with no significant undisclosed information reported [1].

证券代码：001211 证券简称：双枪科技 双枪科技股份有限公司 2026 年 2 月 5 日投资者关系活动记录表 编号：2026-001 | 投资者关系 | 特定对象调研 分析师会议 媒体采访 | | --- | --- | | 活动类别 | 业绩说明会 新闻发布会 路演活动 | | | 现场参观 其他 | | 活动参与人员 | 兴业证券赵宇、浙商证券史凡可、浙商证券曹馨茗、国投 | | | 证券罗乾生、华安证券徐偲、华安证券余倩莹、国泰海通 | | | 毛宇翔、申银万国魏雨辰、天风证券张彤、华西证券杜磊、 | | | 财通证券戚志圣、华福证券汪浚哲、国元证券朱宇昊、东 | | | 方财富叶柏辉、信达证券李晨、华夏基金郑楷樾、华创证 | | | 券周星宇等 | | 时间 | 年 月 日（星期四）15:00-14:30 2026 2 5 | | 地点 | 线上调研会议 | | 上市公司接待人员 | 董事会秘书兼财务总监：朱卫清先生 | | | 董事、副总经理、新材料事业部总经理：徐洪昌先生 | | | 证券事务代表：张驰女士、雷丽女士 | | 交流内容及具体问 | 一、公司介绍 | | | 公 ...

Group 1: Heavy Truck Industry Outlook - The heavy truck market in China sold 1.145 million units in 2025, a year-on-year increase of 27% [2] - Exports accounted for 341,000 units, reflecting a growth of 17.4% [2] - The industry is experiencing a balanced development of multiple energy sources, including diesel, natural gas, and new energy [2] Group 2: Electric Power Energy Product Layout - The demand for electric power equipment in data centers is rapidly expanding due to advancements in AI technology [4] - The company has established comprehensive energy solution capabilities and has successfully delivered projects in various regions [4] - Future efforts will focus on leveraging delivery, product performance, and product mix advantages to expand strategic customer bases [4] Group 3: New Energy Powertrain Development - The company is accelerating its layout in new energy and technology sectors, focusing on pure electric power systems, fuel cells, and hybrid technologies [5] - The aim is to meet diverse market demands across different regions and application scenarios [5] - The company plans to capitalize on opportunities in the new energy sector by utilizing its full industry chain advantages [5] Group 4: Shareholder Return Outlook - The company is committed to optimizing its profit structure and enhancing long-term competitiveness [6] - Plans include high-frequency cash dividends and share buybacks to improve shareholder returns [6] - The company will consider shareholder expectations and market conditions to maintain a proactive and stable return policy [6]

Group 1: Business Expansion and Innovation - The company aims to innovate and develop new growth points in various business scenarios, focusing on market demand and technological innovation [2] - Future developments will include smart manufacturing equipment and industrial service business expansion, targeting high-risk environments for automation [2] - The company is actively engaged in R&D and promotion of new technologies and products, including solid material post-processing solutions and smart factory solutions [2] Group 2: Order Fulfillment and Delivery - The typical order completion cycle for smart manufacturing equipment ranges from 6 to 18 months, depending on user site conditions and project types [2] - Revenue recognition for industrial service contracts is based on the fulfillment of obligations over time, with longer cycles for new projects compared to upgrades [2] - The company employs a flexible manufacturing approach based on order requirements to ensure timely delivery of products [2] Group 3: Industry Applications and Market Position - The company's smart manufacturing equipment is utilized across various industries, including petrochemicals, new energy, food, and pharmaceuticals, providing efficient production solutions [2] - The company has established a competitive advantage in high-speed, high-precision manufacturing technologies, meeting stringent customer demands [3] - The company’s products are recognized for their advanced technology and performance, achieving both domestic leadership and international standards in certain applications [3] Group 4: International Market Strategy - In 2024, the company's overseas revenue is expected to remain low, with international operations being more complex than domestic ones [2] - The company has made progress in internationalization, with overseas markets identified as a key growth area [2]

Group 1: Financial Performance and Risk Management - Suzhou Jingyin has increased overdue receivables due to the photovoltaic industry's downturn from 2024 to 2025, leading to strategic contraction with severely overdue clients and enhanced collection efforts [1] - The company plans to adjust its client structure by developing new partnerships with several top 10 industry clients, expecting increased production volume in 2026 [1] Group 2: Production and Market Trends - Malaysia Jingyin began production in 2024 and achieved profitability in the same year; however, capacity utilization declined in 2025 due to geopolitical influences [2] - The company anticipates a rapid increase in shipment volumes from its Malaysian facility, benefiting from recent domestic and international policy changes [2] - In 2026, the company expects a rise in shipments of silver-coated copper paste due to higher silver prices, which will also lead to cost reductions for traditional pure silver paste users [2] Group 3: Order Management and Future Outlook - Suzhou Jingyin has signed procurement framework agreements with major clients, but due to volatile silver prices, clients prefer rolling orders based on demand rather than long-term commitments [2] - The Malaysian semiconductor factory is evolving from primarily integrated circuit packaging to a diverse range of packaging forms, positioning itself to leverage overseas market opportunities amid increasing domestic competition [2] Group 4: Compliance and Investor Relations - During the investor relations activity, the company adhered to regulations, ensuring no leakage of undisclosed significant information, and signed the required research commitment letter as per Shenzhen Stock Exchange requirements [3]

Group 1: Business Development Expectations - The company focuses on the global commercial vehicle fleet management market, leveraging advancements in AI technology and chip performance to enhance product penetration and market growth [3] - The company aims to capitalize on industry growth opportunities based on its extensive insights and customer base [3] Group 2: Robobus Business Development - The company has initiated a systematic layout for the Robobus business, including the establishment of autonomous driving test sites and expansion of the R&D team [4] - The focus for this year is on the implementation of benchmark projects both domestically and internationally [4] Group 3: Reasons for Choosing Robobus - Robobus customers require complex solutions that integrate business products with autonomous driving technology, which the company is well-positioned to provide [5] - The company has a deep understanding of customer needs due to its long-term service to various public transport operators [5] Group 4: Smart Equipment Product Division - The Smart Equipment Product Division is currently focused on contract manufacturing of server power products, with optimistic future growth expectations [6] - Plans include enhancing service capabilities and expanding production of supporting products for computing centers [6] Group 5: Vietnam Factory Capabilities - The first phase of the Vietnam factory was completed in May 2023, with the second phase set to begin construction in 2025 [7] - The local team has gained familiarity with the operating environment, and the factory is expected to meet future business development needs [7]