Group 1: Business Transformation and Diversification - The company is transitioning from heavy asset expansion to a "light and heavy combination" model, focusing on "core business enhancement + new track incubation" [2] - Significant progress in upgrading core categories like gold jewelry and new energy vehicles, enhancing supply chain control and profit margins [2] - The establishment of Wuhan Wushang Commercial Management Co., Ltd. aims to penetrate the provincial sinking market with management, branding, and resources [3] Group 2: New Business Ventures and Digital Transformation - The company has successfully launched two new business lines: duty-free and membership retail, with the first city duty-free store opening in May 2025 [3] - The establishment of Wuhan Jiangtun Digital Technology Co., Ltd. has led to the development of 12 digital systems, achieving five ISO international standard certifications [3] - The implementation of various digital applications has effectively reduced costs and improved efficiency, facilitating the transition from traditional retail to a commercial technology company [3] Group 3: Market Position and Competitive Strategy - The high-end commercial market in Wuhan is characterized by competition among Wushang MALL, Hang Lung Plaza, and Wuhan SKP [4] - Wushang MALL is enhancing its brand image and expanding its luxury brand matrix, including the introduction of brands like Rolex and Celine [5] - The sales of luxury goods and high-net-worth customer traffic have shown a year-on-year recovery, reinforcing Wushang MALL's core position in the Central China high-end market [5] Group 4: Membership Store Performance and Expansion Plans - The WS Jiangtun membership store has shown positive operational trends since its opening in July 2025, focusing on differentiated advantages through quality selection and exclusive rights [5] - The front warehouse network is expanding, with four locations planned for operation, and two new stores are set to open in 2026 [5] Group 5: Project Performance and Future Outlook - The Wushang Dream Era project has achieved double-digit growth in revenue and profit, with a significant increase in the young customer demographic [6] - The Nanchang Wushang MALL has maintained strong growth, with sales, customer traffic, and average transaction value all showing double-digit increases [6] - Plans for 2026 include introducing international luxury pop-up stores and a new high-end hotel to enhance commercial potential [6] Group 6: Dividend Strategy and Financial Planning - The company has increased its dividend payout, with a total of 303 million yuan distributed over the past three years, representing 124.94% of average distributable profits [6] - Future dividend policies will be developed based on operational performance and strategic needs, aiming for sustainable growth and shareholder value enhancement [6] Group 7: Financing Structure and Strategy - The company has successfully issued 360 million yuan in medium-term notes and 1.5 billion yuan in short-term financing bonds, achieving record low interest rates [7] - Future financing activities will be planned based on strategic and operational funding needs, ensuring a balanced asset-liability ratio and debt repayment capability [7]

Group 1: Market Development - The company has a diverse range of nuclear power products, covering various equipment and core products, and is positioned as a key supplier of high-value products like evaporator tubes [2] - The company aims to enhance its research and development efforts in nuclear-grade products and explore new application scenarios in the nuclear power sector [2] - The composite pipe business is focused on resource integration and optimizing synergies, with significant contract deliveries completed this year [2][3] Group 2: Alloy Materials Business - The alloy subsidiary emphasizes material research and technological innovation, ensuring stable product quality through a comprehensive production control system [3] - The company plans to support the alloy subsidiary's capacity ramp-up and market expansion, aiming for business transformation and high-quality development [3] Group 3: Oil Well Pipe Business - Continuous efforts in new customer development and application exploration have led to improved production line utilization and product sales [3] - The company intends to focus on international markets and enhance sales channel expansion to increase global market share for oil well pipes [3] Group 4: Future Outlook - The company maintains confidence in its short-term goals and long-term strategic vision for the "14th Five-Year Plan" period [3] - Plans include deepening core business, advancing smart manufacturing and digital transformation, and overcoming technological innovation bottlenecks [3] - The company aims to strengthen industry chain collaboration and prioritize high-value-added business segments, particularly in high-performance alloy materials [3]

Group 1: Company Overview - The company showcases its overall scale, factory layout, entrepreneurial history, industry positioning, and core application areas of its products [2] - The exhibition includes a display of production equipment, testing devices, research outcomes, management systems, and humanistic care [2] Group 2: Market Development Progress - The product system includes seamless pipes, welded pipes, composite pipes, fittings, and flanges, focusing on high-performance materials for key energy sectors like oil and gas, nuclear power, and aviation [2] - The nuclear power business covers various equipment and piping products, with the company positioned as a major supplier of high-value products like evaporator tubes [3] Group 3: Composite Pipe Business - The company is enhancing resource integration with EBK, achieving high-quality and efficient contract fulfillment, positively impacting the composite pipe business [3] - Ongoing internal projects in high-performance pipe materials align with long-term strategic planning and customer needs, supporting future growth [3] Group 4: Alloy Materials Business - The subsidiary focuses on material research and technology innovation, ensuring product quality through a comprehensive production control system [3] - The company aims to support the alloy subsidiary's capacity ramp-up and market expansion, enhancing core customer relationships [3] Group 5: Oil Well Pipe Business - Continuous efforts in new customer development and application exploration have led to improved production line utilization and sales [4] - The company plans to enhance its global market share for oil well pipes through expanded sales channels [4] Group 6: Future Outlook - The company maintains confidence in its short-term goals and long-term strategic vision for the "14th Five-Year Plan" period [4] - Focus areas include technological innovation, especially in high-temperature and corrosion-resistant materials, and strengthening the supply chain [5] - The company aims to maximize the synergy of its business segments and solidify its long-term development foundation [5]

Group 1: Company Overview and Production Capacity - Dongguan Lihang Electronic Materials Co., Ltd. has established an annual production capacity of 10,000 tons for polishing liquids, covering semiconductor and consumer electronics sectors [2] - The company has achieved significant breakthroughs in domestic FAB orders for its core product, tungsten polishing liquid, indicating substantial progress in meeting high-performance and stability demands [2] Group 2: Competitive Advantages - The company focuses on addressing critical pain points in domestic chip manufacturing, particularly in CMP polishing liquids, filling technological gaps in the industry [3] - A strong technical team with over 20 years of experience in semiconductor polishing liquids enhances the company's ability to overcome industry barriers and develop a self-controlled core technology system [3] - Compared to foreign products, the company offers cost advantages that align with FAB manufacturers' needs for supply chain optimization and cost reduction [3] Group 3: Downstream Applications and Key Clients - The company's business spans various downstream applications, including 3C consumer electronics, automotive manufacturing, semiconductor chip production, and aerospace [3] - Key clients include major players such as Foxconn, Changying Precision, BYD, and China CRRC [3] Group 4: Future Strategies and Investments - The company plans to leverage its public financing capabilities to actively pursue mergers and acquisitions within the industry, aiming to expand its business layout in new materials and high-end intelligent equipment sectors [4] - Future strategies include deepening strategic collaborations with key clients to enhance product penetration and market share, ensuring steady business growth [3]

Group 1: Financial Performance - The company's accounts receivable recovery has been positively impacted by the active debt reduction measures implemented by various levels of government in Guangxi, enhancing cash flow management [2] - In Q3 2025, the increase in design-related business revenue was driven by project progress due to government debt reduction efforts [2] - The photovoltaic business saw a significant increase in revenue due to a substantial rise in power generation compared to the same period last year, following the completion of distributed photovoltaic projects in the first half of 2025 [2] Group 2: Business Development - As of June 30, 2025, contracts from outside Guangxi accounted for 22% of the company's total business, supported by 20 branch offices outside the region [3] - The company has established an international business division and opened an office in Cambodia to expand into Southeast Asian markets, including Laos [3] - The company is also developing business in countries like Pakistan and Kazakhstan, with plans to intensify its international expansion efforts [3] Group 3: Business Direction - The company's primary focus is on architectural design, with additional services in land spatial planning and municipal design [3] - Recent expansions include water conservancy and electrical design services, with the company obtaining relevant qualifications to support these new business areas [3]

Group 1: Company Overview and Operations - The company specializes in flexible printed circuit boards (FPC) and has achieved large-scale production capabilities, particularly in the electric vehicle sector [3] - The company has established partnerships with major automotive clients, including XPeng Motors, Dongfeng Nissan, and Geely, among others [3] - The company is positioned as a leading supplier in the CCS (Cell Connection System) market, with cumulative shipments exceeding 100 million units [3] Group 2: Market and Clientele - Key clients in the energy storage sector include CATL, Sungrow, and other industry leaders [5] - The company has begun mass production for a leading North American electric vehicle manufacturer [6] - The company has secured significant orders from Bloom Energy for AIDC components, indicating strong demand [7] Group 3: Future Plans and Development - The company plans to expand production capacity across multiple locations, aiming to meet increasing client demands [10] - A new production base in Ningde is expected to increase capacity by approximately 2 billion yuan [24] - The company is exploring new applications for FPC in areas such as low-altitude economy and robotics [16] Group 4: Financial Performance and Projections - The average value per electric vehicle for the company is approximately 3,000 yuan for a 100 kWh electric vehicle [26] - The company anticipates an increase in the proportion of revenue from energy storage products, which will be a key focus area in the coming year [20] - The company is committed to achieving ambitious targets set forth in its recent equity incentive plan [30]

Group 1: Market Trends - The global LED display market is projected to reach $79.71 billion by 2025 and $102.36 billion by 2028, with a compound annual growth rate (CAGR) of 7% from 2023 to 2028 [2][3] - Mini LED is identified as a new growth point, with the global market expected to reach $3.3 billion by 2028 and a CAGR of approximately 40% from 2024 to 2028 [3] Group 2: Company Products in MLED - The company has launched several products in the MLED field, including MLED core detection equipment and MLED core integrated circuits [4] - Key detection equipment includes the MLED Demura system, MLED lighting test machine, MLED color grading machine, and MLED fully automatic repair machine, enhancing production efficiency and quality [4] - Integrated circuits include MLED ASIC control chips, high-speed interface chips, and PWM+PAM mixed drive chips, improving display quality and meeting industry demands for high-quality and ultra-thin MLED displays [4] Group 3: R&D Investment - R&D investments for the first three quarters of 2024 and 2025 were $5.40 million and $3.88 million, respectively, accounting for 16.47% and 16.05% of revenue [4] - The company plans to maintain high R&D investment levels and focus on cutting-edge technology to enhance its competitive advantage [4] Group 4: AI Technology Integration - The company is actively exploring the application of AI technology in the video display control industry [5][6] - AI technology has been integrated into some products to enhance visual quality, with plans for continued exploration of potential applications [6]

Group 1: Company Overview - Suning Universal Co., Ltd. focuses on real estate development and sales, pursuing a dual business strategy in real estate and medical aesthetics [1] - The company operates nationwide, with a strong emphasis on the Yangtze River Delta region, adhering to a "low debt, high return" operational strategy [1] Group 2: Medical Aesthetics Business Performance - The medical aesthetics segment has seen a 50% year-on-year increase in new customer prepayments [2] - The company has established 7 medical aesthetics institutions, with the Wuxi Suya Medical Aesthetics Second Hospital beginning trial operations [2] - The medical aesthetics institutions are characterized by complete qualifications, standardized management, advanced technology, and high-quality service [2] Group 3: Competitive Advantages and Achievements - The Tangshan institution achieved significant growth despite market challenges, reflecting the company's commitment to quality [3] - The Wuxi institution received multiple awards, including the "Ten Thousand Genuine Product Guardian Award" and "Annual Impact Brand Award," highlighting its strong market position [2] - The Shanghai institution possesses unique qualifications for advanced surgical techniques, with plans for upgrades to attract more customers [3] Group 4: Target Market and Strategic Planning - The medical aesthetics business targets mid-to-high-end clientele, focusing on high-quality service and competitive pricing to attract new customers [4] - The company aims to integrate the medical aesthetics industry chain, enhancing operational efficiency and reducing costs through strategic property use and bulk purchasing [4] - By 2026, the medical aesthetics segment's revenue share is expected to increase significantly with the operation of new institutions in the Yangtze River Delta [4] Group 5: Future Business Development Outlook - The company maintains a dual-driven development approach in real estate and medical aesthetics, leveraging stable cash flow from real estate to expand medical aesthetics revenue [5] - Continuous attention to new industries and opportunities will support the optimization of business structure and resource allocation for sustainable growth [6]

附件二：投资者关系活动记录表格式 证券代码： 002202 证券简称：金风科技 | | 编号： | | --- | --- | | 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 | 西部证券 邓宇轩 中金公司 车昀佶 天风证券 杨志芳 东吴证券 胡隽颖 | | 姓名 | 中信证券 林劼 | | 时间 | 2025年12月26日 | | 地点 | 线上会议 | | 上市公司接待人员姓 | 投资者关系经理 于洋 | | 名 | 投资者关系主管 刘茜 | | | 公司在智慧运维方面有何布局？ | | | 答：新能源发电项目全面参与电力市场交易，显著提升了行业对电力交易 | | | 相关产品与服务的需求。"数智化"转型作为应对市场变革、提升竞争力 | | | 的核心路径，持续引领行业发展。在"无人化"场站建设方面，公司通过 | | | 智慧运营平台建设提升故障预警效率与实时监测能力，加速场站"无人化" | | | 进程，运维人效平均提升25%以上。2 ...

深圳市昌红科技股份有限公司 投资者关系活动记录表 编号：2025-003 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □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 | | 参与单位名称及 | 山西证券杜鹏程，国金证券周焕博，亚洲红马投资高鼎、陈一 | | | 鸣，国宝人寿邹斌，高毅资产王骊鹏，泰康资管刘勍等 10 名 | | 人员姓名 | 投资者。 | | 时间 | 2025 年 12 月 26 日 15:30-16:00 | | 地点 | 线上会议 | | 上市公司接待人 | 副总经理兼董事会秘书刘力；证券事务代表陈晓芬、程筱玥。 | | 员姓名 | | | | 一、介绍鼎龙蔚柏基本情况 | | | 鼎龙蔚柏在半导体生产领域主要为客户提供半导体晶圆载具 | | | 和洁净包装物等产品，致力于为半导体制程提供全方位、高精 | | | 度的承载、运输产品。目前在研产品包括 FOUP、FOSB、HWS、 | | | 光罩载具、超洁净桶等多款产品。 | | | 二、提问与交流 | | | 1、请 ...