Group 1: Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 141,205.37 million CNY, a year-on-year increase of 0.52% [2] - The net profit attributable to shareholders for the same period was 4,639.62 million CNY, with a net profit of 6,164.40 million CNY after excluding share-based payment impacts, reflecting a growth of 12.96% year-on-year [2] - The net profit excluding non-recurring gains and losses was 5,822.06 million CNY, marking a year-on-year increase of 13.35% [3] Group 2: Development Plans - The company is focused on "large-capacity refrigerators + commercial cold chain" and aims to expand upstream in the industry chain and into global markets [4] - In 2024, a new subsidiary, Wuliang Intelligent, will be established, focusing on PCBA processing and electronic component support [4] - The company plans to enhance its core competitiveness through business synergy and will continue to expand its overseas market presence [4] Group 3: Shareholder Matters - The 5% shareholder, Anhui Zhidao Investment Co., Ltd., plans to reduce its holdings due to personal funding needs, but this is not expected to significantly impact the company's governance or ongoing operations [5] - The company emphasizes shareholder returns and plans to balance operational development with shareholder benefits [9] Group 4: Project Updates - The company has completed two fundraising projects: the "annual production of 1 million embedded refrigerators" and the "R&D center construction project" [7] - The "refrigerator component self-manufacturing capability enhancement project" has been changed to the "Electronic Technology Park and High-end Smart Home Industrial Park Project," which is currently progressing normally [8] Group 5: Market and Sales - The company’s overseas business revenue grew by approximately 20% in the first three quarters of 2025, with international sales accounting for about 45% of total revenue, up from 18.81% in 2022 [14] - The company is actively expanding into new markets and plans to continue product innovation to meet diverse customer needs globally [14] Group 6: Risk Management - To mitigate the impact of exchange rate fluctuations, the company has established a foreign exchange hedging management system and engages in various foreign exchange derivative transactions [15] Group 7: Long-term Value Management - The company aims to enhance its intrinsic value through innovation, product development, and effective communication with investors [16] - It plans to maintain a regular dividend mechanism to improve investor recognition and align market perception with the company's value [16]

投资者关系活动 类别 ☑ 特定对象调研 □分析师会议 □媒体采访 □新闻发布会 □现场参观 □业绩说明会 □路演活动 □其他 参与单位名称及 人员姓名 中欧基金管理有限公司 息荣雪 中邮证券有限责任公司 费晨洪 河南克瑞德基金管理有限公司 王凯、刘毅 杭州沨华私募基金管理有限公司 高冬 时间 2026 年 2 月 5 日 地点 长华化学科技股份有限公司 上市公司接待人 员姓名 董事会秘书：顾倩 证券事务代表：张丽 投资者关系活动 主要内容介绍 互动交流： 1.公司二氧化碳聚醚项目什么时候投产，26 年达产情况预 计如何？ 答：公司年产 8 万吨二氧化碳聚醚装置现已基本建设完成， 正在做调试与试生产手续相关工作，计划今年一季度试生产。本 套二氧化碳聚醚装置是新产品、新工艺的全球首次落地，同时在 各类下游应用中需要测试流程及培育的过程，达产方面预计需要 一定的爬坡期，为此公司特设了 Carnol 聚醚全球事业部负责海 内外市场开发，已经做了一系列市场拓展的部署工作。从中长期 战略方面，公司计划先夯实，以全球首套低温低压制备年产 8 万吨二氧化碳聚醚的项目的技术壁垒，筑牢首阶段市场口碑；再 扩张，以一期产能为支点， ...

编号：2026 -01 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 华源证券 邓思平 WL Fund 冯皓琪 安信基金 张鹏 煜诚私募基金 王凯 泉果基金 游瑾 泰康保险 万晨洁 华宝基金 居桢 光大永明资产 吴涛 前海再保险 陈泓君 博时基金 金欣欣 上海保银 余泽 时间 2026年02月04日 17:00—18:00 地点 公司会议室，腾讯会议方式 上市公司接待人员姓名 副总经理、董事会秘书 李洁 证券事务代表 尹思悦 投资者关系活动主要内容 介绍 1、2025 年，公司经营情况如何？ 答：（1）根据公司披露的《2025 年度业绩预告》（2026-01）， 公司 2025 年归属于上市公司股东的净利润区间为盈利 9.43 亿元— 10.80 亿元，同比增长 32.13%—51.26%，主要原因系公司所属上高 一期火电厂#1、#2 机组于报告期内陆续投产发电及所属火电厂本 期燃料成本较上年同期有所下降。（2）截至 2025 年 12 月底，公 司总装机规模625.05万 ...

Group 1: Company Performance and Financial Outlook - In 2025, the company is expected to achieve a net profit growth of 45%-75% year-on-year, driven by industry policy support and demand from emerging markets [3] - The acquisition of 100% equity in Changbo Company was completed by the end of Q3 2025, which will be included in the consolidated financial statements [3] - The company aims to enhance shareholder returns through cash dividends, planning to distribute dividends twice a year based on operational and financial assessments [6] Group 2: Business Development and Market Strategy - The company has made significant progress in the alternative fuel market, developing various technologies for natural gas and dual-fuel engines, and has established a multi-technology system for LNG, methanol, and biofuels [4] - In the generator set business, there was a substantial increase in sales and revenue in the data center sector, gaining access to major telecom operators' procurement [4] - The company plans to leverage its product advantages to expand its market share in high-end sectors such as data centers, communications, oil and gas fields, and high-end manufacturing [4] Group 3: Changbo Company's Future Development - Changbo Company has a large market potential and competitive advantages, including rich business resources and a strong geographical position [6] - The company intends to utilize Changbo's market strengths and promote performance growth through synergy in the upstream and downstream supply chain [6]

Group 1: Company Outlook - The company aims to efficiently allocate resources and facilities to create effective supply chain solutions, reducing operational costs for clients and enhancing logistics efficiency and quality across the supply chain [3] - Future plans include building new regional operation centers and optimizing the logistics network while expanding into new fields and clients [3] Group 2: Core Competitiveness - The company possesses stable and high-quality major client resources, leveraging unique talent advantages, comprehensive information systems, and excellent fleet management capabilities [3] - It offers a full range of integrated logistics services, providing customized supply chain solutions that ensure precision in logistics services and high standards of user experience, continuously creating supply chain value for clients [3]

Group 1: Company Strategy - The company aims to achieve a long-term high-quality development goal of "rebuilding a new Wens" to maintain its industry-leading position, focusing on growth, profitability, innovation, and sustainability [2][3]. - In the pig farming sector, the company plans to enhance breeding performance, expand piglet sales, and diversify into high-end black pig breeds for growth [2][3]. - In the chicken farming sector, the company will accelerate the transformation of food materials, increase investment in white feather broiler strategies, and actively explore overseas markets [2][3]. Group 2: Profitability Enhancement - The company intends to reduce pig farming costs through improved breeding technology, digital empowerment, and operational efficiency [3]. - For chicken farming, the focus will be on innovative marketing models, shortening supply chains, and enhancing the profitability of each chicken [9][10]. - The company aims to promote the Chinese native chicken brand and develop innovative food products to increase overall profitability [9][10]. Group 3: Innovation and Sustainability - The company plans to significantly increase R&D investment in cutting-edge technologies such as livestock breeding, digital farming, and precision feed nutrition [4]. - It will implement green development practices and strengthen its ESG governance framework to enhance risk resilience and ensure sustainable growth [5]. - The strategic goals have been broken down into specific tasks across business lines, creating executable and trackable implementation paths [5]. Group 4: International Expansion - The company has identified internationalization as a key strategic direction and is forming a dedicated exploration team to promote overseas business, starting with the chicken sector [5]. - Initial discussions have begun with companies and government departments in Vietnam, Malaysia, India, and South Korea to explore various cooperation models [5]. Group 5: Breeding and Market Adaptation - The company has established a core breeding technology and system, reducing the frequency of introducing foreign breeding stock, focusing instead on genetic resource exchange [7]. - The company recognizes the need to balance breeding goals with diverse consumer preferences across different regions in China [8]. - Future breeding efforts for Chinese native chickens will focus on improving production performance while maintaining quality and flavor [12][13][14].

Group 1: Company Overview - Weston focuses on providing software products and technical services related to AI and big data, primarily targeting the industrial and financial sectors [2] - The company's software offerings include industrial software, financial risk control software, and intelligent container yard management software, among others [2] - Weston is recognized as a national key software enterprise and has received multiple certifications, including ISO9001 and CMMI5 [3] Group 2: Business Strategy - The company aims to shift resources towards core product development in AI and big data, moving away from lower-margin system integration services [4] - Weston plans to pursue both organic growth and external growth strategies, including acquisitions to enhance capabilities [4] - The recent acquisition of Liangtou Technology is part of Weston's strategy to expand in the fintech sector, leveraging complementary client bases [5][6] Group 3: Future Development - Weston is exploring new fields such as smart transportation while continuing to deepen its services in smart manufacturing and financial technology [6] - The company has engaged in digital benchmark projects at major domestic ports, showcasing its ability to apply industrial internet technology across complex scenarios [6] - Weston recognizes the competitive landscape in new sectors and focuses on high-value applications that deliver efficiency and cost optimization [6] Group 4: Governance and Management - The actual controller of Weston does not hold any position within the company, ensuring stable operations managed by a core team with over 20 years of experience [6] - The management team is responsible for daily operations, research and development, and customer service, maintaining a mature and effective decision-making process [6]

Group 1: Company Strategy and Performance - In 2025, the company focused on retail channel development, emphasizing refined operational management to enhance store efficiency, leading to significant growth in retail revenue [1] - The company launched new products such as the Hongmeng Smart Shower and Clean Master P50 Smart Toilet, laying a foundation for future growth [1] - For 2026, the company plans to expand the store efficiency project to cover more stores, promoting a broader and sustained impact [1] Group 2: Product and Marketing Initiatives - The company aims to replicate refined management practices from retail to e-commerce channels, enhancing overall channel performance [1] - Continued collaboration with Hongmeng Smart is expected to improve product planning, development, and market launch processes, facilitating expansion in the smart home sector [1] - The company will focus on optimizing product sales structure to enhance gross margins [1] Group 3: Competitive Positioning - The company differentiates itself from imported brands through smart product upgrades and refined retail operations, aiming to capture greater market share [2] - A multi-brand strategy is implemented to target different market segments, ensuring brand differentiation in image, target audience, and channel layout [2]

Group 1: AI and AR Technology Development - The company is advancing the MicroLED micro-display technology for AR-AI applications in collaboration with universities, with prototype validation currently underway [2] - The focus is on achieving full-color MicroLED technology through long-term R&D in the Mini/Micro-LED field [2] Group 2: RGB Mini LED Backlight Technology - The company has been an early adopter of RGB-Mini LED backlight technology, collaborating with Hisense for performance breakthroughs since 2025 [3] - The global shipment of RGB-Mini LED TVs is projected to reach 500,000 units in 2026, representing a 25-fold year-on-year growth [3] Group 3: 2026 Performance Outlook - The net profit target for 2026 is set at RMB 189 million, with a trigger value of RMB 151.2 million based on the company's stock incentive plan [3] Group 4: Share Buyback Plan - The company plans to repurchase shares worth between RMB 10 million and RMB 20 million, having already repurchased 391,500 shares, which is 0.175% of the total share capital, for a total amount of RMB 7,720,646.34 [3] Group 5: Impact of Commodity Price Increases - The rise in commodity prices has increased raw material costs, but the company aims to offset this through product design, supply chain management, and improved production efficiency [3] - Long-term, price increases may facilitate industry consolidation and enhance the company's competitive edge in high-value Mini LED and RGB backlight products [3]

Group 1: AI Technology Applications - The company has completed the registration of its "Edifier Summary Extraction Algorithm" and "Edifier Machine Translation Algorithm" with the National Internet Information Office, with ongoing development of additional features for its products [2] - The "AI Meeting Transcription" feature has been launched, enabling real-time audio transcription and AI summarization, integrated into mid-to-high-end headphone products [3] Group 2: Open Wireless Stereo (OWS) Market - The OWS market is experiencing rapid growth, with the company planning significant investments starting in 2024 [2] - The company has launched over ten models of OWS products, including the LolliClip AI and Comfo SE, designed for various scenarios such as outdoor sports and commuting [3] Group 3: Product Launches and Features - Key models launched in 2025 include: 1. LolliClip AI with dual model integration 2. Comfo SE designed to withstand wind speeds of up to 28.8 km/h 3. X Clip featuring advanced sound quality and comfort innovations [3] - The company continues to invest heavily in diverse product forms and pricing ranges for its OWS headphones [3] Group 4: Overseas Market Operations - Export sales revenue increased by 14.3% year-on-year in the first half of 2025, with export revenue rising from 21.5% to 22.9% of total revenue [4] - The company is expanding its online direct sales channels and enhancing its presence on international e-commerce platforms like Amazon and Lazada [3]