Group 1: Investment Strategy - The company has been expanding its market presence through new establishments and acquisitions, with 35 physical agricultural logistics park projects in over 20 major cities across the country [1] - The company plans to continue investing in quality projects to enhance its core competitiveness and profitability [1] Group 2: Brand Development - The company is focused on developing the "Haijixing" brand, transitioning from traditional distribution to a smart ecological model, which aims to improve operational efficiency and service capabilities [2] - Over 90 "Deep Agricultural Selection" products have been developed, enhancing brand image and product value [2] Group 3: Urban Renewal and Collaborations - The urban renewal project at the Buji market is progressing, with the draft legal plan completed and under review [2] - A strategic cooperation agreement has been signed with Feige Group to explore future collaboration opportunities in agricultural production and tourism integration [2] Group 4: Employee Stock Ownership and Dividend Strategy - The 2024 employee stock ownership plan will allow stock transfer to individual accounts or management committee sales based on market conditions [2] - The company emphasizes a stable profit distribution policy, considering various factors such as profitability, cash flow, and investment needs when formulating its dividend strategy [3] Group 5: Market Value Management - The company is committed to enhancing shareholder returns by transitioning to a modern agricultural product distribution model and improving operational efficiency across the entire industry chain [3]

Production Capacity and Utilization - Current production capacity for fluorinated liquids includes 3,000 tons/year for HFE and 2,500 tons/year for PFPE [2] - The company's battery chemical production capacity is 283,100 tons with a utilization rate of 83.54% [19][27] - Organic fluorochemical production capacity utilization is at 62.33%, while electronic information chemical utilization is at 49.67% [27] Market Position and Strategy - The company ranks among the top two in market share for lithium battery electrolyte, with continuous improvement in customer recognition [3] - The company emphasizes a long-term value creation strategy over short-term profit maximization, focusing on comprehensive supply chain management [3] - The company is expanding its fluorinated liquid product capacity through a project aimed at producing 30,000 tons of high-end fluorochemical products [2] Raw Material and Pricing Dynamics - Recent price increase for lithium hexafluorophosphate is 100,000 CNY per ton, potentially increasing gross profit by 3 billion CNY if fully utilized [3] - The company maintains a raw material self-sufficiency rate of over 50%, with plans to adjust this as new capacities come online [3] - The company is actively managing price transmission in response to raw material cost fluctuations, ensuring product value is reflected [20][21] Research and Development Focus - The company is committed to R&D investments aimed at product and technology innovation, enhancing product quality and solutions for customers [6] - Ongoing research includes advancements in liquid and solid-state battery technologies, with a focus on interface conduction challenges [9] Future Outlook and Market Trends - The company is optimistic about the long-term growth of the lithium battery and semiconductor markets, despite short-term fluctuations due to policy changes in the US and Europe [12] - The company is preparing for increased demand in the data center cooling market, with ongoing certification processes for its liquid cooling products [26] Financial Management and Shareholder Value - The company has implemented a market value management system, including stock buybacks and consistent dividend payments to enhance shareholder returns [12] - The management is focused on maintaining core competitiveness and sustainable growth to deliver long-term value to investors [28]

证券代码：301288 证券简称：*ST 清研 清研环境科技股份有限公司 投资者关系活动记录表 编号：2025-002 | | 答：尊敬的投资者，您好！感谢您的大力支持。公司依据发展 | | --- | --- | | | 战略，全力抓好经营管理，提升运营效率，同时不断寻求对外合作 | | | 及投资机会，多措并举，提高风险控制水平，确保公司的可持续发 | | | 展，切实保障投资者的权益。川南页岩气钻井废水治理项目（一期） | | | 目前正在建设中。具体的业绩和项目情况届时请关注公司后续披露 | | | 的公告。感谢您对本公司的关注。 | | | 4. 公司股价有没有被人为操控？ | | | 答：尊敬的投资者，您好！公司严格按照上市公司相关规则规 | | | 范运作。感谢您对本公司的关注。 | | 关于本次活动是 | | | 否涉及应披露重 | 本次活动不涉及未公开披露的重大信息。 | | 大信息的说明 | | | 附件清单 无 | | | （如有） | | | 日期 | 2025年11月20日 | 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 ☐ ...

Group 1: Financial Performance - The company's revenue and profit have been declining since 2022 due to multiple market competition factors [3][4] - The management's compensation structure includes a base salary and performance-based salary, aimed at incentivizing management to drive sustainable development [3] - The company is actively seeking new business growth points to expand profit margins while maintaining its core business [3][10] Group 2: Business Operations - The composite flow project is currently in the sample testing phase, with no specific timeline for production due to the lengthy verification process [6][7] - The new tobacco business is progressing according to plan, with a focus on both domestic and international markets [3][5] - The company maintains independent operations from its controlling shareholder, ensuring compliance with legal regulations [9] Group 3: Market and Regulatory Environment - Stricter global regulations on e-cigarettes are expected to increase industry barriers, leading to market consolidation [5] - The company is adapting its product structure based on market competition, which has resulted in profit changes exceeding revenue changes [3] Group 4: Future Outlook - The company plans to enhance operational efficiency and reduce costs while focusing on technological innovation to improve product quality [10][11] - There are no current indications that the controlling shareholder's legal issues will affect the company's control structure [10][11]

Group 1: Company Strategy and Product Development - The company has initiated a strategic direction called "Manufacturing Industry Restart" since 2024, focusing on the R&D of various smart distribution network devices, including modular UPS systems and high-voltage DC power systems [2][3] - The company is developing solid-state transformer (SST) products and has a strong technical background, having exported high-voltage frequency converter technology in 2012 [2][3] - The company has established a new R&D center in Jiangsu to enhance product competitiveness and reduce transportation costs [4] Group 2: Financial Performance - As of Q3 2025, the company reported total revenue of CNY 947 million, a year-on-year decrease of 2.75%, while the net profit attributable to shareholders was CNY 43.12 million, down 41.09% [3][4] - The company achieved a significant increase in non-recurring net profit, which rose by 170.88% to CNY 48.01 million [3] - Operating cash flow improved significantly, exceeding CNY 300 million, a year-on-year increase of 320% [3][4] Group 3: Market and Sales Strategy - The company aims for a 20% increase in orders for its manufacturing sector in 2025, with a detailed sales plan in place [4] - The company is focusing on large clients and has begun establishing an overseas sales team to enhance international sales capabilities [4] - The distribution of smart distribution network equipment orders is approximately 1/3 from the grid and 2/3 from outside the grid, with a gross margin of about 20% and a net margin of around 3% [4] Group 4: Renewable Energy and New Projects - The company has received over CNY 200 million in national subsidies for renewable energy this year, with a faster repayment speed [3][5] - The company is developing a new business model combining decentralized wind power and heating, with over 300 MW of wind power indicators reserved [5][6] - The projected internal rate of return for the decentralized wind power and clean energy heating projects is over 10% [5][6] Group 5: Future Outlook and Goals - The company has set revenue growth targets for 2025: 20% for smart distribution networks, 10% for renewable energy, and 10% for comprehensive smart energy [6] - The company is exploring overseas business opportunities, particularly in Central Asia and ASEAN countries, and has successfully bid for a key energy storage project [6]

Group 1: Production and Resource Management - The production situation of the major shareholder's Peru Copper is normal, with a signed equity custody agreement to avoid competition and protect shareholder interests [2] - The company is focusing on resource replacement and increasing reserves, with significant investments in geological research and exploration activities [3] - The company is in the process of acquiring 40% of Liangshan Mining from Yunnan Copper Group, which will enhance resource reserves [3] Group 2: Cost Management and Competitive Advantage - The new Southwest Copper project utilizes advanced smelting technology to reduce production costs and enhance competitiveness [4] - The company has a competitive advantage in smelting processing costs due to ongoing cost reduction and quality improvement measures [4] - The company maintains stable long-term relationships with suppliers to ensure a steady supply of raw materials [5] Group 3: Strategic Response to Market Changes - The company is implementing a strategic layout focusing on digital transformation, resource expansion, and cost reduction, aiming for further cost decreases in 2024 [6] - The company is increasing the procurement of urban mining resources to mitigate the impact of declining processing fees [7] - Sulfur production and sales have seen significant price increases this year, contributing positively to the company's performance [7]

Group 1: Market Trends and Demand - There is a trend of switching from dry-process to wet-process separators in energy storage batteries, with some customers already making this transition [2] - The demand for energy storage batteries remains strong, and the demand for power batteries continues to grow, leading to an overall increase in downstream demand [3] Group 2: Supply and Production Capacity - The new production capacity in the separator industry this year is lower than last year, resulting in reduced effective capacity formation, indicating an improvement in supply [2] - The expansion cycle in the separator industry is long and capital-intensive, making it difficult to increase production amid low profit levels and long recovery periods [3] Group 3: Industry Competition and Pricing - The future competition landscape in the separator industry is expected to see increased concentration, with supply growth primarily coming from leading enterprises due to the lack of confidence and capability among small and medium-sized enterprises [4] - The pricing of separator products is influenced by supply and demand as well as product performance, with expectations for gradual recovery in prices and profit levels as downstream demand continues to rise [5] Group 4: Current Orders and Production Utilization - The company currently has a robust order book and high production utilization, with stable growth in downstream customer demand and orders [6] - The company anticipates further growth in shipment volume in 2025, supported by strong demand in the energy storage sector [6]

证券代码：002736 证券简称：国信证券 1 | | 注公司在指定媒体发布的有关业绩公告信息。 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | | 二、公司有没有考虑H股上市？ | | | | | | | | 答：夯实资本硬实力是公司发展战略规划中的"两 | | | | | | | | 翼驱动"之一，即公司要积极扩大资本规模和境内外 | | | | | | | | 影响力，为实现公司行业地位的跨越提供坚实支撑。 | | | | | | | | 未来，公司将综合研判相关政策及市场形势，统筹利 | | | | | | | | 用境内境外两个市场融资渠道，进一步扩充资本实力。 | | | | | | | | 三、请问贵司是否有并购重组的计划？ | | | | | | | | 答：今年9月，公司完成了发行股份收购万和证券 | | | | | | | | 相关资产过户及新股发行上市工作。目前，公司暂无 | | | | | | | | 下一步收购的明确计划。有关信息请您以公司在指定 | | | | | | | | 媒体发布的公告信息为准。 | | | ...

证券代码：301622 股票简称：英思特 包头市英思特稀磁新材料股份有限公司 投资者关系活动记录表 编号：2025-014 | ☑ 投资者关系活动 | 特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | 类别 | □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 | 中邮证券有限责任公司 翟一梦 | | 人员姓名 | 金鹰基金管理有限公司 何欢 | | 时间 2025 | 年 11 月 20 日 10:00-11:00 | | 地点 | 线上会议 | | 上市公司接待人 | 董事会秘书范立忠先生、证券事务代表雷永龙先生、IR 及综 | | 员姓名 | 合专员吕淑诣女士 | | | 2025 年 11 月 20 日 10:00-11:00 中邮证券有限责任公司 | | | 翟一梦，金鹰基金管理有限公司何欢对包头市英思特稀磁新材 | | | 料股份有限公司进行线上调研，主要内容如下： | | | 1、问：公司 2025 年研发项目的重点和主要业务方向？ | | | 答：公司 2025 年的研发 ...

证券代码： 000060 证券简称：中金岭南 深圳市中金岭南有色金属股份有限公司 投资者关系活动记录表 编号：2025-05 | 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 11 月 20 日 (周四) 14:30~17:00 | 下午 | | 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、党委书记、董事长 喻鸿 | | | 员姓名 | 2、党委副书记、董事、总裁 潘文皓 | | | | 3、董事会秘书、总法律顾问 万磊 | | | | 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： | | | | ...