Group 1: Business Development and Market Strategy - The company has strengthened its innovation capabilities and operational efficiency, achieving overseas manufacturing revenue of 930 million CNY in the first half of 2025 [2] - The focus remains on domestic markets, particularly in the Yangtze River Delta and Guangdong-Hong Kong-Macau Greater Bay Area, while also planning to enhance overseas market research [2] - The company aims to optimize its business structure and enhance operational management to achieve sustainable high-quality development [3] Group 2: Policy Impact and Market Conditions - The company is closely monitoring policies related to stockpiling and home purchase subsidies, which are expected to support liquidity and improve supply-demand structures in the real estate market [2] - The overall policy optimization is seen as beneficial for stabilizing the industry, although full recovery depends on consumer confidence [2] Group 3: Financial Management and Cost Optimization - The company is working to optimize its loan structure by taking advantage of the current declining interest rates to reduce financial costs [4] - Future financing cost optimization will be approached cautiously, considering market conditions and policy directions [4] Group 4: Real Estate Development and Investment Strategy - The company prioritizes risk prevention in its real estate development, focusing on high-margin projects in core cities with predictable cash flows [5] - New land acquisition will be considered selectively, ensuring that risks are manageable and investment returns are aligned [5] Group 5: Shareholder and Market Engagement - The company has no current plans for asset injection from its controlling shareholder and will disclose any future developments as required [6] - A focus on value management is evident, with established systems and plans to enhance market performance and respond to investor feedback [8]

证券代码：002303 证券简称：美盈森 美盈森集团股份有限公司 投资者关系活动记录表 编号：2025-22 | 投资者关系 | 特定对象调研 分析师会议 | | --- | --- | | 活动类别 □媒体采访 | 业绩说明会 | | | □新闻发布会 □路演活动 | | 现场参观 | 其他 | | 参与单位名 称及人员姓 | 1、宏利基金 吕佳文、孟杰、汪兰英、周少博 | | 名 | 2、中邮证券 赵洋、陆禹舟 | | 上市公司参 | 1、董事会秘书 刘会丰 | | 与人员 | 2、证券事务代表 闻敏 | | 时间 2025 | 年 月 日（周五） 12 12 | | 地点 美盈森大厦 | B 座 18 楼会议室 | | 形式 | 线下现场会议 1、公司海外业务未来盈利水平能否保持稳定？ | | | 答：由于当前海外一些区域对包装产品及服务要求较高的高 | | | 附加值客户较为集中且受益于海外市场竞争格局等因素，当前公 | | 交流内容及 | 司海外业务的盈利水平较国内业务总体要高一些。随着公司海外 | | 具体问答记 | 新产能的逐步投入使用，我们的目标是维持海外业务盈利水平的 | | 录 ...

Company Overview - Hubei Dinglong Holdings Co., Ltd. is a leading platform company in the field of core innovative materials, focusing on two main business segments: semiconductor materials and general printing consumables [2][3]. - The company emphasizes semiconductor innovation materials, covering CMP process materials, photoresists, and advanced packaging materials, establishing itself as a domestic leader in these areas [2][3]. Polishing Liquid Business - The company has achieved significant breakthroughs in polishing liquid technology, including a comprehensive product layout covering dielectric, metal, and polysilicon layers, with several high-barrier products already developed [3][4]. - R&D investment for the first three quarters of 2025 reached CNY 389 million, primarily directed towards semiconductor segments, ensuring robust funding for technological innovation [4][10]. - The polishing liquid products have gained recognition from major domestic wafer manufacturers, with successful orders for combined polishing and cleaning liquid solutions [4][5]. Advanced Photoresist Technology - The company has over 20 years of experience in the import substitution of key materials, establishing a strong technical barrier in high-end photoresist production [5][6]. - It has developed nearly 30 types of high-end photoresists, achieving industry-leading technical specifications and ensuring a stable supply of core raw materials through independent development [6][7]. OLED Display Materials - The core products for OLED display materials, such as yellow polyimide slurry (YPI) and photosensitive polyimide slurry (PSPI), have achieved stable supply and established a leading position in the domestic market [8][9]. - The PSPI product line has a production capacity of 1,000 tons per year, with ongoing development of new high-end display materials [8][9]. Future Product Expansion - The company plans to leverage its seven core technology platforms and four synchronization mechanisms to ensure smooth transitions from R&D to mass production in new product areas [9][10]. - Cumulative R&D investment over the past three years exceeds CNY 1.1 billion, maintaining a ratio of approximately 14% of revenue, which supports new technology development [10].

Company Overview - Guangdong Yinhui Technology Co., Ltd. was established in 1997, focusing on high-performance polymer new materials research, production, and sales [2][3] - The company has established production and R&D bases in multiple locations, including Dongguan, Suzhou, and Vietnam, to support international expansion [3] Product and Market Focus - The company specializes in high-value-added products in emerging technology fields such as polymer modified plastics, smart lighting, 3D printing materials, and electronic chemicals [3] - Products are widely used in various industries, including automotive, home appliances, aerospace, and new energy [3] Client Development and Sales Strategy - Recent years have seen a shift towards high-value products and nurturing emerging clients, particularly in the electronics and robotics sectors [4] - The company has established stable relationships with clients in new industries, including partnerships with major brands like Xiaomi and Harman Kardon for AI products [4][5] Financial Management and Governance - The company maintains a low asset-liability ratio, allowing for cost-effective financing options [6] - Recent shareholder proposals have been rejected due to non-compliance with legal requirements, but management emphasizes stability and risk management [6][7] Growth Prospects - The company is positioned to benefit from the rapid growth of the low-altitude economy and service robots, with a positive trend in modified plastics business [7] - The smart lighting business has also entered supply chains of leading companies, indicating a stable growth trajectory [7] - The company expects profit growth to align with trends observed in the first three quarters of the year [7]

Group 1: Market Strategy and Competition - The company will focus on retail channel construction as the core strategy for 2026, enhancing refined operational management to boost retail channel growth [1] - The implementation of a dual-driven approach in product and marketing aims to optimize product sales structure and improve gross margin [1] - Continuous internal management reform and cost reduction efforts are expected to enhance operational quality and reduce expense ratios [1] Group 2: Product Development and Collaboration - The company is advancing cooperation with Hongmeng Smart Selection to promote new products like smart bath heaters and showers through online and offline channels [1] - Leveraging the ecological resources of the Hongmeng platform will enhance internal operational capabilities in product planning, development, and launch processes [1] Group 3: International Market Expansion - The company has experienced a decline in overseas revenue this year but plans to continue its international strategy with differentiated market approaches [2] - Establishing partnerships with local distributors and expanding offline store layouts in key overseas markets are part of the strategy [2] - The company is also focusing on online sales through major overseas e-commerce platforms and brand collaborations to drive international business growth [2] - Despite a decrease in export revenue to the North American market, there has been significant revenue growth in markets outside North America [2]

Group 1: Strategic Layout and Business Model - The company adheres to a dual-core strategy of equipment and materials, establishing independent departments for each project to enhance professional capabilities [2] - Focus on profit enhancement and scale expansion in the materials sector, continuously adding new equipment categories and material strategies to create a virtuous cycle of sales profit [2][3] - The company aims to achieve a synergistic effect of 1+N>N+1 through distinctive management incentive mechanisms and technology advantages [3] Group 2: Core Competitiveness and Innovation - Core competitiveness is centered on technological innovation and comprehensive manufacturing capabilities, with a complete industrial chain from core technology R&D to product delivery [3] - The company promotes an "ecological win-win" barrier by empowering management and core teams, fostering internal creativity, and collaborating deeply with industry partners for shared growth [3] Group 3: Financial Strategies and Future Plans - A 1.5 billion yuan industrial fund has been established in collaboration with the government, focusing on the company's industrial chain layout needs while adhering to investment regulations [4] - The company maintains a robust cash flow to support strategic acquisitions, ensuring alignment with its core equipment and materials strategy [5] - Future investment and acquisition plans will continue to revolve around the core of "equipment + materials," targeting suitable candidates in the direction of smart manufacturing [5]

Group 1: Company Overview - Beijing Wanbangda Environmental Technology Co., Ltd. was established in 1998, initially focusing on industrial wastewater treatment in the petrochemical sector [1] - The company has transitioned into the chemical new materials field through investments in Huizhou Yisike, leveraging its Guangdong Yisike (Jieyang) base for high-end new material development [1][2] Group 2: Product Development and Competitive Advantages - The new TPE synthetic leather products feature innovative molecular structure design, offering various properties such as skin-friendly, environmentally friendly, wear-resistant, and flame-retardant characteristics [2] - The Jieyang project will produce key products including isoprene, pentadiene, and SBS/SEBS/SIS/SEPS, which will be used in adhesives, rubber, and other applications [3] Group 3: Project Progress and Production Capacity - The Jieyang project is set to begin construction in 2024 and aims for trial production in 2025, with three production units planned: a 250,000 tons/year carbon five separation unit and two 30,000 tons/year SBS/SEBS/SIS/SEPS units [2] - The carbon five separation unit has already entered trial production, while other units are in the commissioning phase [2] Group 4: Research and Development - The company has built a research team of over a hundred members, combining experienced experts and project leaders with younger developers [4] - Approximately 60% of current research projects focus on cutting-edge new materials [5] Group 5: Sales Strategy - The sales strategy for new products targets large clients and relies on distributors, gradually building a sales network through key partnerships [5]

Group 1: Company Overview - Wanma Technology Co., Ltd. was established in 1997 and listed on the Shenzhen Stock Exchange's Growth Enterprise Market on August 31, 2017 [3] - In the first three quarters of 2025, the company achieved a revenue of CNY 557 million, representing a year-on-year growth of 44.51% [3] - The company has two main business segments: communication and industrial control, and vehicle networking, both of which have seen rapid growth [3] Group 2: Business Development - The company is actively expanding its product offerings in the distribution sector, becoming a candidate for three projects with the State Grid, with a total bid amount of CNY 81.2742 million in 2025 [4] - In the vehicle networking sector, the company has connected over 17 million vehicles globally, with significant partnerships with major automotive manufacturers such as Geely and Li Auto [5] Group 3: Competitive Advantages - Wanma Technology leverages partnerships with major telecom operators (China Mobile, China Telecom, China Unicom) to provide robust communication infrastructure [4] - The company has developed advanced networking solutions, including dual SIM and AI network technologies, to meet the high bandwidth and low latency requirements of smart connected vehicles [5] Group 4: Future Market Potential - The Robotaxi market is projected to reach USD 116 billion by 2030, while the domestic logistics market for Robovan is expected to see significant growth, with potential increases of CNY 977 billion and CNY 1,416 billion respectively [6] - The company is focusing on the commercial viability of autonomous driving applications, positioning itself to capitalize on the expected growth in these sectors [6] Group 5: Product Offerings - Wanma Technology provides comprehensive solutions for the vehicle networking sector, including hardware, eSIM solutions, and AI-driven cloud services [7] - The company has established partnerships with various firms in the Robotaxi and Robovan sectors, including Baidu Apollo and Hello Chuxing [7] Group 6: Global Expansion - The company has deployed six major data platforms globally and has established branches in regions such as Europe and the Middle East to enhance service efficiency and compliance [8] - Wanma Technology's platform supports multiple eSIM standards, enabling it to handle large-scale operations for multinational automotive brands [8]

证券代码：000768 证券简称：中航西飞 三、请问 2025 年度国际转包业务的增长情况？ 目前公司国际转包业务运营稳中有进，以与空客公司合作为 例，公司把握空客天津第二条总装线投产契机，紧盯空客总装线速 率爬坡计划，扩大与空客现有项目合作规模，积极争取 A320 系列 项目合作增量。深入发挥公司作为空客一级供应商的管理效能，全 面开展全价值链产能准备工作，从人员、工装、设备等多方面、多 维度识别上速率瓶颈，确保速率提升稳步实现。 中航西安飞机工业集团股份有限公司 投资者关系活动记录表 编号：2025-012 | 投资者关系 | 特定对象调研 分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | 活动类别 | □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） 长江证券、易方达基金、国投瑞银基金、交银施罗德基金、华安基 | | | 金、鹏扬基金、华泰资产、百年资管、太平养老、人保资产。 | | 活动参与人员 | 上市公司参与人员： | | | 董事长韩小军、董事会秘书左锋、证券事务代表龚亮、财务管理部 | | | 副书记苏博、证券与资本管理 ...

Group 1: Company Overview and Financial Performance - Fujian Snowman Group Co., Ltd. was established in 2000, focusing on advanced equipment manufacturing in cold chain logistics, industrial refrigeration, clean energy, and hydrogen power sectors [1] - In the first three quarters of 2025, the company achieved a revenue of CNY 1.631 billion, representing a year-on-year increase of 24.26% [1] Group 2: Controlled Nuclear Fusion Business - The company is involved in the controlled nuclear fusion sector, utilizing helium compressors as core components for large-scale low-temperature systems [1] - The "large-scale low-temperature refrigeration system" project employs the company's "megawatt-level" helium compressor, capable of achieving cooling at -271°C with a cooling capacity of 100 watts [2] - The technology has received national scientific achievement evaluation, reaching an internationally leading level with significant social and economic benefits [2] Group 3: Hydrogen Energy Sector - The company has developed a long-term strategy in the hydrogen fuel cell sector, focusing on core technologies within the supply chain [3] - It has established hydrogen technology R&D institutions in Europe and Japan, working on key components and materials for hydrogen fuel cells [3] - The company is advancing the mass production of hydrogen fuel cells and core components, gradually building a complete industrial ecosystem [3] Group 4: Data Center Business Expansion - The company has entered the data center sector, leveraging its compressor technology to offer a diverse product line, including piston, open-type screw, semi-closed screw, and centrifugal compressors [4] - It has implemented low-charge ammonia refrigeration technology in overseas data centers, providing energy-efficient and environmentally friendly solutions [4] - The company’s subsidiary, Hangzhou Longhua, is involved in major data center refrigeration engineering projects for leading enterprises like China Mobile and Alibaba [4] Group 5: Ice Making Products Development - The company has seen significant growth in its ice-making products, particularly in the industrial construction and ice and snow sectors [5] - Demand in the Middle East for large-scale infrastructure projects is expected to drive rapid growth in the industrial construction sector over the next three to five years [5] - The company's ice-making and snow-making products are utilized in over 30 global ice and snow projects annually, establishing a stable business foundation [5] Group 6: Future Outlook - The company aims to continue expanding application scenarios and strengthening technological advantages while seizing opportunities in national strategies and global trends [5] - It plans to leverage innovative products and comprehensive service capabilities to drive steady business growth [5]