Company Overview - Zhejiang Yongtai Technology Co., Ltd. was established in 1999 and listed in 2009, headquartered in Taizhou, Zhejiang Province, specializing in fluorine fine chemical manufacturing [2][3] - The company operates multiple production bases across Zhejiang, Inner Mongolia, Fujian, and Guangdong, ensuring sufficient capacity to support future growth [3] Financial Performance - In the first three quarters of 2025, the company achieved revenue of CNY 402,835.11 million, a year-on-year increase of 20.65% [4] - The net profit attributable to shareholders was CNY 3,255.39 million, marking a return to profitability [4] Business Segments and Strategies Lithium Battery Materials - The company has established a vertically integrated supply chain for lithium materials, with production capacities as follows: - Solid lithium hexafluorophosphate: approximately 18,000 tons/year - Liquid lithium bis(fluorosulfonyl)imide: 67,000 tons/year (equivalent to 20,000 tons/year in solid form) - Additives: VC at 10,000 tons/year; FEC at 3,000 tons/year - Electrolyte: 150,000 tons/year [5] - Future plans include enhancing R&D and product offerings to meet diverse customer needs [5] Pharmaceutical Sector - The pharmaceutical segment covers key therapeutic areas including cardiovascular, diabetes, central nervous system, anti-infection, and antiviral, with a vertically integrated supply chain for fluorinated intermediates and active pharmaceutical ingredients [6][7] - The company aims to leverage advanced technologies for deeper development in these areas [7] Agricultural Protection - Focused on fluorinated herbicides, fungicides, and insecticides, the agricultural segment is expanding its global market presence through vertical integration and leveraging overseas registration resources [8] - Plans include enhancing production processes and promoting sustainable agricultural solutions [8] Market Dynamics and Pricing - The price fluctuations of key materials like lithium hexafluorophosphate are influenced by supply-demand dynamics, industry competition, and raw material costs [9] - The company employs a market-driven pricing mechanism for lithium materials, adjusting based on market conditions and customer strategies [12] Production Capacity and Utilization - Current VC production capacity stands at 10,000 tons, with 5,000 tons added in November 2025, expected to be gradually released [10] - The company maintains a high capacity utilization rate to ensure timely order fulfillment [10] Segment Performance - In the first three quarters of 2025, the agricultural protection segment saw a revenue increase of 39.77%, while the lithium materials segment experienced a significant growth of 112.09% [17] - The pharmaceutical segment faced challenges with a revenue decline of 30.62% due to patent expirations and increased competition [18] Future Financing Plans - The company maintains stable relationships with banks and financial institutions, planning to assess and pursue financing opportunities aligned with its strategic needs [18]

超捷紧固系统(上海)股份有限公司 证券代码：301005 证券简称：超捷股份 投资者关系活动记录表 编号 2025-026 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 1、东吴证券 戴晨 时间 2025年12月4日 下午15:00-16:20 地点 子公司无锡超捷会议室 上市公司接待人员 姓名 1、公司董事会秘书、财务总监 李红涛 2、公司证券事务代表 刘玉 1、请介绍下贵公司汽车业务的基本情况。 公司长期致力于高强度精密紧固件、异形连接件等产品的研 发、生产与销售，产品主要应用于汽车发动机涡轮增压系统，换 挡驻车控制系统，汽车排气系统，汽车座椅、车灯与后视镜等内 外饰系统的汽车关键零部件的连接、紧固。在新能源汽车上，产 品主要应用于电池托盘、底盘与车身、电控逆变器、换电系统等 模块。此外，公司的紧固件产品还应用于电子电器、通信等行 业。 2、公司汽车业务营收保持增长的主要动力有哪些？ ①汽车零部件出口的拓展，海外市场是公司的战略重点之 一，基于公司与麦格纳、法雷奥、博世等国际一级供应商多年良 好的合作关系，为海外市场拓 ...

Group 1: Company Transformation and Management Changes - The company has implemented six major management transformations since the restructuring in 2022, focusing on quality management, lean management, integrated supply chain management, integrated product development, organizational transformation, and digital transformation [2][3][4]. - The continuous improvement in net profit margin is attributed to effective management changes and a solid foundation for growth, with a focus on scale effects and cost control measures [4][5]. Group 2: Cost Reduction and Efficiency Improvement - The company has set comprehensive cost reduction targets that include procurement, production processes, design optimization, and expense control, with a focus on enhancing operational quality and efficiency [6][7]. - Fixed costs are strictly controlled through dynamic monitoring, while hidden costs are reduced via lean management practices and digital transformation initiatives [7][8]. Group 3: Order and Revenue Insights - As of November 2025, the company has an order backlog of 37.9 billion CNY, with material handling equipment accounting for 36.9% of this total [8][9]. - The order distribution by sector includes mining (9%), metallurgy (23%), energy (24%), ports (17%), and shipbuilding (4%) [9]. Group 4: Product Performance and Market Position - The gross margin for material handling equipment has improved significantly, rising from 15-16% in 2021-2022 to 24-25% currently, driven by strong competitive advantages and market demand [10][11]. - The company has established strategic partnerships with major global players, enhancing its international market presence and product competitiveness [10][11]. Group 5: Future Growth and Strategic Goals - Future growth drivers are expected to focus on bulk material handling and wind power products, with plans to strengthen overseas market expansion and increase market share [12][13]. - The company aims to achieve steady growth in net profit margins through ongoing management reforms and alignment with national policies supporting heavy equipment development [13][14]. Group 6: Shareholder Engagement and Capital Expenditure - The company is implementing a stock incentive plan to enhance governance and attract talent, aligning the interests of shareholders and the core team [14]. - Future capital expenditures will focus on strategic areas such as smart manufacturing and internationalization, with a commitment to balancing development investments and shareholder returns [14].

Financial Performance - The company's revenue for the first three quarters of 2025 was 16.52 billion CNY, representing a year-on-year growth of 18.29% [2] - The net profit attributable to shareholders for the same period was 3.23 billion CNY, with a year-on-year increase of 61.97% [2] - The growth in performance is attributed to the increase in metal prices [2] Production and Operations - The main product of the company is concentrate, with metal quantities needing to be calculated separately, typically disclosed in the annual report [2] - The expected production capacity of Honglin Mining after full production is 396,000 tons/year, with an average gold grade of 2.82 g/t and copper grade of 0.48% [4] - Honglin Mining is currently in the trial production phase, which will last until December 10, 2025 [4] Licensing and Compliance - The safety production license for Honglin Mining is expected to be obtained within 3-6 months after the trial production phase [3] - The company emphasizes the importance of safety production, with significant investments made annually to meet government safety requirements [8] Cost Management - The cost structure is influenced by multiple factors, including safety production requirements and the simplicity of the ore selection process, which helps control costs [8] - Jinshan Mining's technological improvements have primarily reduced the cost of ore selection while increasing the recovery rates of silver and gold [8] Future Growth Expectations - The company anticipates an increase in gold production following the official launch of Honglin Mining [9] - The Dongsheng Mining project, with a capacity of 250,000 tons/year, is under construction and expected to contribute to silver, lead, and zinc production growth [9] - Jinshan Mining's production capacity is projected to gradually increase to 480,000 tons/year, with plans to expand further based on resource availability [9] Shareholding Structure - The company holds a 62.96% stake in Yindu Mining, 100% in Guangda Mining, Jindu Mining, and Jinshan Mining, 54% in Deyun Mining, and 53% in Honglin Mining [10]

| | | 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 | 国信证券 王晓声 国联民生证券 王一如 | | | 人员姓名 | 华创证券 吴含 | | | | 长江证券 周圣钧 | | | 时间 | 2025年12月4日 | | | 地点 | 线上会议 | | | 上市公司接待人 | 副总裁兼董事会秘书及公司秘书 投资者关系经理 于洋 | 马金儒 | | 员姓名 | 投资者关系主管 刘茜 | | | | 2025年前三季度国内风电行业发展情况？ | | | | 答：根据能源局数据，2025年1-9月，全国新增风电并网装机容量61.1GW， | | | | 同比上升56.2%，截至2025年9月底，国内风电累计并网装机容量581.6GW， | | | | 占电源总装机比例为15.6%，火电占比为40.4%。 | | | 投资者关系活动 | 2025年前三季度国内风电行业招标与 ...

长飞半导体、芯联集成、拓荆科技、厦门三安、华润微电子、广东芯粤能、重庆万国、 | | 深圳润鹏等。 | | --- | --- | | | 3、公司与上海寰鼎集成电路达成战略合作，后续的具体进展？ | | | 答：公司下属基金已与上海寰鼎签订投资意向性协议，正式协议目前正在磋商中， | | | 具体进展请以公司后续公告为准。 | | | 4、上海寰鼎集成电路主营业务是什么，业绩如何？ | | | 答：上海寰鼎主营业务包括三块：一是快速退火炉的研发、生产制造及销售；二是 | | | 全球知名品牌半导体设备的代理；三是 耗材的研发及推广。 wafer solution | | | 5、公司 2025 年度盈利水平及现金流如何？ | | | 答：公司金属包装及塑料包装主业 年度经营及盈利水平正常，完成 年 2025 2025 12 | | | 月份结账后，如达到披露要求，公司将披露 2025 年度业绩预告，请关注公司后续公告。 | | | 6、公司目前的主要客户情况？ | | | 答：公司目前主营业务为包装产品的研发、生产及销售，主要客户为阿克苏、立邦、 | | | 艾仕得、PPG、壳牌、美孚、康普顿、大联石油化工 ...

Group 1: Production Capacity and Cost - The new spandex production capacity will have a lower investment cost per ton compared to previous capacities, enhancing the company's cost advantage and overall competitiveness [2] - The company has no new expansion plans for spandex and adipic acid production, but future plans will depend on market conditions [3][4] - The remaining 75,000 tons of spandex capacity from fundraising projects is expected to be gradually put into production by the end of 2026 [3] Group 2: Market Conditions and Trends - The profitability of adipic acid is currently at a historical low, with the industry undergoing consolidation and increased competition [3] - The release of downstream demand due to economic recovery and anti-involution policies is expected to significantly boost adipic acid consumption [3] - The spandex market is highly competitive, with prices largely following supply and demand dynamics; the industry is moving towards oligopoly and differentiation [3] Group 3: Inventory and Cost Advantages - The current inventory of spandex is approximately 20 days [3] - The Chongqing production base has significant cost advantages over the Ruian base in terms of energy and labor costs [3] Group 4: Future Projects and Developments - The PTMEG project is progressing steadily, with the first phase expected to be completed by the end of next year [4] - The company is the largest spandex producer in China, and the PTMEG project will help stabilize raw material supply and enhance integrated advantages [4] Group 5: Sales and Distribution - The sales model for adipic acid is primarily direct sales, with some reliance on distributors [4] - There are currently no plans for overseas factories [4]

编号：2025-002 | 投资者 | 特定对象调研 ☑ | □分析师会议 | | --- | --- | --- | | 关系活 | □媒体采访 | □业绩说明会 | | 动类别 | □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 | 陈光 | | | 位名称 | | | | 及人员 | | | | 姓名 | | | | 时间 | 2025 年 12 | 月 4 日（星期四）下午 14:30-16:30 | | 地点 | 会议室 | 河南省郑州市金水区农业路东 41 号投资大厦 A 座 2507 | | 上市公 | | 董事会秘书：李琳女士 证券事务代表：魏强龙先生 | | 司接待 | | | | 人员姓 | | | | 名 | | | | | 1200MW | 1、问：鲁山抽水蓄能 1300MW 项目、林州弓上抽水蓄能 | | | | 项目当前建设进度及政策性金融工具额度使用情况。 | | | | 答：公司目前在建的鲁山抽水蓄能 1300MW 项目、林州弓上抽水蓄 | | 投资者 | 能 1200MW | 项目为国家重点项目，均 ...

Financial Performance - For the first three quarters of 2025, the bank's operating income was CNY 100.67 billion, a decrease of 9.8% year-on-year [1] - Net profit for the same period was CNY 38.34 billion, down 3.5% year-on-year [1] - As of September 2025, total assets amounted to CNY 576.68 billion, with total loans and advances at CNY 341.78 billion, reflecting a growth of 1.3% from the previous year [1] - The non-performing loan ratio stood at 1.05%, a slight decrease of 0.01 percentage points from the end of the previous year [1] Strategic Goals - The bank aims to be "the most excellent retail bank in China and a globally leading intelligent retail bank" [1] - The strategy focuses on strengthening retail, refining corporate services, and specializing in interbank operations while enhancing risk management and digital transformation [1] Comprehensive Financial Services - The bank is upgrading its comprehensive financial model, leveraging the advantages of the Ping An Group's ecosystem [1] - In the first three quarters of 2025, the net increase in wealth management clients from comprehensive financial services accounted for 47.5% [1] - New customer acquisition in assets under management (AUM) from comprehensive financial services represented 50.5% [1] Insurance Business - By September 2025, the bank's agency income from personal insurance reached CNY 1.24 billion, marking a year-on-year increase of 48.7% [3] Technology Finance - As of September 2025, the number of technology enterprise clients was 28,859, reflecting a growth of 9.5% year-on-year [3] - The balance of technology loans was CNY 297.53 billion, an increase of 6.6% from the previous year [3] Real Estate Loans - The balance of corporate real estate loans was CNY 226.99 billion as of September 2025, a decrease of CNY 18.23 billion from the previous year [3] - The non-performing rate for corporate real estate loans was 2.20%, an increase of 0.41 percentage points from the end of the previous year [3]

Group 1: Company Overview - The company offers over 140 types of products, including highway passenger vehicles, public buses, tourist buses, commuter vehicles, high-end business vehicles, school buses, and special vehicles [2] - After years of development, the company has established a presence in all provinces and cities across China and operates in multiple countries and regions globally [2] Group 2: Domestic Market Demand - The domestic public bus market has shifted to a stage dominated by replacement demand, with the peak of new demand having passed [2] - Last year, the sales volume of medium and large buses was approximately 30,000 units, indicating a gradual differentiation in market structure [2] - There is an increasing demand for small buses serving the "last mile" of urban transport, while the number of traditional large buses is gradually decreasing [2] Group 3: Export Business Advantages - The company's core advantages in export business include excellent cost-performance ratio and shorter delivery times compared to international brands [3] - Chinese new energy buses have surpassed similar foreign products in terms of product capability [3] - The "Belt and Road" initiative enhances global influence, creating favorable conditions for Chinese companies to expand internationally [3] Group 4: Future Dividend and Growth Plans - The company plans to consider market conditions, cash flow from operations, and future funding needs when determining dividend levels to boost investor confidence [3] - Focus will be on expanding overseas markets, enhancing product quality, and optimizing management to continuously improve competitiveness and profitability, thereby creating greater value for investors [3]