Group 1: Technology Innovation and R&D Investment - In 2024, the company will focus on breakthroughs in the micro-light imaging field, developing multiple products for night vision and underwater imaging, achieving domestic substitution [2][4]. - R&D investment for 2024 is projected at CNY 75.36 million, marking a significant increase [3][4]. - The company has achieved a maximum precision of 1μm with incremental reflective scales, and a measurement length of 14 meters with closed-loop steel tape measures, facilitating domestic substitution in the gantry machine tool sector [3][4]. Group 2: Financial Performance and Challenges - In 2024, the company reported a revenue of CNY 745 million and a net profit of CNY 66.42 million, affected by a slowdown in cash collection and increased credit impairment losses [11][28]. - The asset-liability ratio remains low, indicating good short-term solvency despite a decrease in cash flow [7][28]. - The company plans to enhance financial strategies to support business development and shareholder value amidst a challenging industry environment [7][28]. Group 3: Market Position and Future Outlook - The company holds a 13% revenue share from the Kuaizhou rocket business, indicating its role in the aerospace sector [6]. - The company aims to deepen its research in imaging technology and expand into ultra-precision optical manufacturing, targeting high-growth sectors like semiconductors [12][28]. - The company is committed to maintaining a collaborative innovation mechanism with the Chinese Academy of Sciences, ensuring R&D investment remains above 12% over the past three years [8]. Group 4: Shareholder Returns and Corporate Governance - The profit distribution plan for 2024 includes a total cash dividend of CNY 16.8 million, reflecting the company's commitment to shareholder returns while ensuring sustainable growth [39]. - The company is actively considering financing options for future projects, including a precision optical center with an estimated investment of CNY 300-500 million [30][31].

证券代码：001378 证券简称：德冠新材 投资者关系活动记录表 编号：2025-01 | 投资者关系活 | □特定对象调研□分析师会议□媒体采访 | | --- | --- | | 动类别 | 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 | | | | 线上参加公司 2024 年度业绩说明会的投资者 | | 及人员姓名 | | | 时间 | 2025 年 5 月 27 日 15：00-17：00 | | 地点 | 线上网址：https://ir.p5w.net/c/001378 | | | 董事长兼总裁罗维满先生 | | | 财务总监杨冰女士 | | 上市公司接待 | | | 人员姓名 | 董事会秘书兼助理总裁何嘉豪先生 | | | 独立董事何夏蓓女士、王聪先生、林耀军先生 | | | 保荐代表人孙远航先生 | | | 1、公司在研发方面投入了这么多，能否介绍一下目前研发成果的转化情 | | | 况呢？有没有一些新的技术或者产品已经推向市场，或者即将推向市场 | | | 的？ | | | 答：投资者您好，2025 年公司以"焕新而行、韧性成长"作为年度工作主题， ...

Group 1: Financial Performance and Strategy - The company aims to improve the profit margin of its new energy products through scale effects, cost reduction of key components, and self-reduction of costs via technology [2] - In 2023, the company plans to gradually develop core components for new energy products to enhance competitiveness and profitability [2][3] - The company has implemented cash management for temporarily idle raised funds to improve efficiency and reduce financial costs, ultimately benefiting shareholders [3] Group 2: Research and Development - The company has established a "Liberation Leading" technology brand and aims for world-class R&D capabilities, supported by a team of over 3,000 [3] - It has developed five major technology platforms focusing on low-carbon, electric, intelligent, connected, and high-quality vehicles [3] - The company is recognized as one of the commercial vehicle enterprises mastering world-class core technologies and has obtained ISO9001 and IATF16949 certifications [3] Group 3: Strategic Partnerships and Innovations - The company is actively pursuing technological transformation and has begun testing L4 level unmanned logistics vehicles [4] - It maintains a good cooperative relationship with Huawei and is exploring opportunities for collaboration in intelligent driving technology [4][5] Group 4: Market Position and Shareholder Relations - The company focuses on long-term value and aims to enhance performance while maintaining cash dividends to reward investors [4] - It emphasizes communication with the capital market to improve recognition and maintain a positive market image [4]

证券代码：000638 证券简称：*ST 万方 万方城镇投资发展股份有限公司投资者关系活动记录表 | 投资者关系活动 | □特定对象调研□分析师会议 | | --- | --- | | 类别 | □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 | 投资者网上提问 | | 人员姓名 | | | 时间 | 2025 年 5 月 27 日 (周二) 下午 15:00~16:30 | | 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 | 1、董事长、总经理刘玉女士 | | 员姓名 | 2、副董事长、副总经理、董事会秘书郭子斌女士 | | | 3、副总经理董威亚先生 | | | 4、财务总监谌志旺先生 | | | 投资者提出的问题及公司回复情况 | | | 公司就投资者在本次说明会中提出的问题进行了回复： | | | 1、请问公司目前虾青素基地一期工程修好了没？ | | | 您好,感谢您的提问,目前公司的 ...

Group 1: Company Performance and Financial Outlook - The company reported a loss of over 16 million yuan in the first quarter due to challenges in the downstream construction and real estate sectors, with declining prices for titanium dioxide products [4] - The company is actively working to improve operations and aims to achieve profitability with the upcoming sulfuric acid project, expected to contribute profits post-launch [2][3] - The company plans to announce its operating data for the first half of the year by the end of August [3] Group 2: Capital Raising and Shareholder Engagement - The company has received authorization from the shareholders' meeting for a small-scale quick capital increase, which will be considered based on market conditions and company needs [2][3] - There are currently no intended investors or specific investment directions for the capital increase [1][2] Group 3: Shareholder Concerns and Corporate Governance - The controlling shareholder, Jinpu Group, has 100% of its shares under judicial freeze, which may lead to changes in the controlling shareholder or actual controller [2] - The company is focused on improving governance and compliance to enhance overall development quality [3][4] Group 4: Project Updates and Future Plans - The sulfuric acid facility is expected to be operational by June 2025, while the phosphate iron project is 65% complete but has been temporarily halted due to market conditions [4] - The company is exploring various measures to optimize product structure, reduce costs, and enhance sales [2][3][4]

Financial Performance - In Q1 2025, the company achieved total revenue of 118,692.32 million yuan, representing a year-on-year growth of 24.32% [2] - The net profit attributable to shareholders was 13,247.92 million yuan, with a year-on-year increase of 14.29% [2] - The company has a sufficient order backlog and aims to enhance production efficiency to meet delivery capabilities [2] Market Trends - The automotive industry is the largest sector for the company, with a strong performance in the domestic new energy vehicle market in 2025 [2] - The 3C electronics industry is experiencing steady growth due to global economic recovery and increasing consumer demand for smart devices [3] - The home appliance industry is benefiting from government policies, leading to a continuous recovery [7] Impact of Trade Policies - The U.S. tariff trade policy has short-term effects such as increased export costs and intensified market competition, but may encourage domestic innovation in the long run [3] - The company's revenue from the U.S. market accounts for less than 3% of total revenue, indicating minimal direct impact from U.S. tariffs [3] Global Expansion - The company has established a factory in India, which serves as a key production base and customer service platform outside of China [4] - The Indian factory covers an area of approximately 81,000 square meters, with the first phase of construction completed in October 2022 [6] - Establishing production in India helps mitigate trade barriers and enhances the company's competitiveness in the region [5] Technological Advancements - The company is focused on technological innovation in the die-casting machine sector, with significant advancements in integrated die-casting technology [7] - The launch of large die-casting machines, such as the LEAP series (7000T, 9000T), has improved product quality and market competitiveness [7] - The semi-solid magnesium alloy injection molding machine is designed for high-performance, lightweight components in new energy vehicles [6] Strategic Goals - The company aims to continue upgrading technology, products, and market strategies, with a vision to become a world-class enterprise in the molding equipment sector [7] - The positive performance in Q1 2025 lays a solid foundation for achieving the annual performance goals [7]

Group 1: Market Management and Strategy - The company emphasizes the importance of market value management and plans to enhance its capabilities through strategic planning, governance, and efficient management [2] - The company aims to respond to low-cost trends by focusing on high-end leadership, technological innovation, and cost control from the design phase [3] Group 2: Production and Capacity Enhancement - The company is committed to improving industrial assurance by enhancing production process control and contract management, aiming for dual improvements in quality and delivery speed [3] - Ongoing fundraising projects are progressing normally, with new production lines being established and existing lines undergoing upgrades to gradually release capacity [3] Group 3: Communication and Compliance - The company ensures thorough communication with investors and adheres to its information disclosure management system to guarantee the accuracy and timeliness of disclosed information [3]

2025 年 5 月 27 日投资者关系活动记录表 编号： 2025-018 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 吉富创投 罗华灶 时间 2025 年 5 月 27 日 13:30-14:30 地点 公司三楼会议室 上市公司 接待人员姓名 董事会秘书 张启斌； IR 经理 焦昱嘉； 投资者关系活动 主要内容介绍 一、公司 IR 经理焦昱嘉介绍公司及子公司的基本情况和产品情况，简要介绍公 司及行业发展情况等。 二、公司董事会秘书张启斌、IR 经理焦昱嘉就以下问题和参与者进行了交流： 问：请简要介绍公司主要产品及未来发展前景和增长潜力？ 答：公司在产品应用领域发展战略上，以传统优势的 PCB 光刻胶（PCB Photoresist）、3C 消费电子涂料（3C Coatings）等电子材料为基本盘，根据产业 发展趋势扩展光伏胶（PV Materials）、显示光刻胶（FPD Photoresist）、汽车涂料 （Automotive coatings）等国内发展优势产业应用领域，重点发展工业防护涂料 ...

E-commerce and Market Strategy - Foshan Lighting emphasizes the strategic layout of e-commerce channels, actively embracing digitalization, and positioning online business as a core driver for market expansion, achieving a 35.70% revenue growth in e-commerce in 2024 [2] - The company is transitioning from a product provider to a comprehensive lighting solution and design service provider, focusing on smart, green, and healthy development trends [4][6] Product Development and Innovation - Research and development are primarily directed towards smart lighting and automotive lighting, particularly in the new energy vehicle sector, with a focus on digital and intelligent technology innovation [4] - The automotive lighting business generated revenue of 2.107 billion yuan in 2024, marking a 15.13% increase, with a significant rise in the proportion of mid-to-high-end products [5] New Market Segments - The company is expanding into new market segments, including sports lighting and marine lighting, with investments in production bases and strategic partnerships to enhance market presence [3][7] - In the marine lighting sector, the company achieved revenue of 67.1 million yuan in 2024, supported by the acquisition of a leading ship lighting enterprise [7] Financial Performance and Shareholder Engagement - Foshan Lighting has maintained a consistent cash dividend policy, distributing a total of 5.854 billion yuan over 32 years, reflecting a commitment to shareholder returns [8] - Recent share buybacks by major shareholders demonstrate confidence in the company's future, with 18.3426 million shares bought back in November 2024 and 11.4296 million shares in May 2025 [8] Emerging Business Areas - The company is actively developing the plant and animal lighting sector, establishing a new business expansion center in February 2025 to focus on technology research and market development [8] - Collaborations with universities and agricultural research institutions aim to create technological barriers in plant growth spectrum control and animal breeding lighting optimization [8]

Group 1: Pricing Mechanisms - The water pricing adjustment mechanism is based on national policies and agreements, requiring approval from government price authorities after cost audits and hearings [3] - The sewage treatment service fee is adjusted every 2 to 3 years, with a temporary adjustment possible due to significant cost changes; the average sewage treatment fee for 2024-2026 is set at 2.63 CNY per ton [3] Group 2: Project Developments - The Chengdu Wanxing Environmental Power Plant (Phase III) is under construction, with a waste processing capacity of 5,100 tons/day and sludge treatment capacity of 800 tons/day [3] - The company operates and is constructing water supply projects with a total capacity of approximately 4.3 million tons/day and sewage treatment projects with a capacity of about 4.8 million tons/day [3] Group 3: Accounts Receivable Management - As of the end of 2024, the company's accounts receivable balance is approximately 4 billion CNY, reflecting an increase due to market expansion [4] - The company emphasizes accounts receivable management and has integrated collection efforts into performance assessments [4] Group 4: Cost Reduction and Efficiency Improvement - The company implements refined management and innovation to reduce costs and improve efficiency, including standardization and the establishment of a smart cloud control center [5] - The "Digital Strong Enterprise" initiative aims to enhance operational efficiency through the creation of five centralized management centers [5] Group 5: Market Expansion Strategy - The company focuses on becoming a national water and environmental service provider, expanding its market presence in Chengdu and surrounding areas while exploring niche markets nationwide [6]