Key Points Industry or Company Involved - **Company**:长安汽车 - **Industry**:Automotive Industry, particularly focusing on electric vehicles (EVs) and new energy vehicles (NEVs) Core Views and Arguments - **Sales Performance**: - October sales reached 251,000 vehicles, a year-on-year increase. - Year-to-date cumulative sales reached 2.156 million vehicles, a year-on-year increase of 2.1%. - NEV sales reached a historical high of 85,000 vehicles in October, with a year-on-year increase of 46.4%. - Autonomous driving brand AITO achieved a monthly delivery of over 10,000 vehicles in October, a year-on-year increase of more than 100%. - **Product Launches**: - SDA architecture-based AITO 107 launched. - AITO 12 dual-power version released on November 2. - AITO 11 facelift version to be launched soon. - Deep Blue brand to launch its first large six-seater product in the first quarter of 2024. - Deep Blue to complete its first-phase product layout with 6 models by 2025. - AITO to launch 4-5 models in the first phase, aiming for a cumulative sales volume of over 200,000. - **Marketing and Sales**: - AITO's marketing touchpoints have exceeded 400, with plans to expand to 470 by the end of the year. - AITO's overseas sales reached 30,000 vehicles in October, a year-on-year increase of 61.8%. - Overall overseas sales target for the year is 480,000 vehicles, with NEVs accounting for 380,000-400,000. - **Financial Performance**: - Third-quarter NEV penetration rate continued to rise, and average unit revenue increased sequentially. - Gross margin showed a year-on-year increase. - Company expects industry to grow by 1% to 3% next year, with full-year targets set higher than industry growth rate. - **Strategic Planning**: - Origin brand to launch 3-5 new models next year, including 3 new products. - Deep Blue to launch a flagship SUV (code Z798) and 2 sedan products next year. - Deep Blue to achieve a cumulative sales volume of 400,000-500,000 in the first phase of product layout. - AITO to launch 116 in the first quarter of 2024 and plan to launch 7 new models over the next three years. - Changan FAW to launch at least one new NEV product annually by 2030. - Changan FAW to achieve a cumulative sales volume of over 200,000 in the first phase of product layout. Other Important Content - **Outbound Investment**: - Company has a "152" strategic layout with five strategic攻坚 and cultivation markets: CIS, Middle East and Africa, South America, Southeast Asia, and Europe. - Sales contribution from CIS, Middle East and Africa, and South America is significant. - Thailand factory to be completed in the first quarter of 2024, with an initial capacity of 100,000. - Company to expand into Australia and New Zealand in Southeast Asia next year. - Overall overseas sales target for the year is 480,000 vehicles, with NEVs accounting for 380,000-400,000. - Company plans to enter the European market next year. - **Supply Chain Costs**: - Company's annual reduction in procurement costs has been increasing sequentially. - Company aims to achieve a significant increase in the absolute value of cost reduction compared to last year. - Company expects a good performance in the fourth quarter. - **Fuel Vehicle Business**: - Company will not launch new fuel vehicle products but will update existing products. - Company will adjust the CS55PLUS and UDV models next year to improve overall product formation rate. - Company will maintain its fuel vehicle business to smoothly transition through the electricization and intelligentization transformation period.

然后线上投资者如果有任何想交流的可以随时提问首先其实我们看到像国际形势特朗普的上台可能对咱们外贸企业会有一些的影响请问赖总是怎么去看待这个事件后续的话像特斯拉这边我们有可能会在他的上海工厂或者其他工厂去陆续的进行一些供应 谢谢赖总好 这个问题问得很应景因为正好昨天特朗普应该大概率就是会任下届的总统所以其实我们内部也在做这个方案的研究因为其实特朗普好的是他在上一任其实是有当过总统所以他当时的整个关税的政策我们是经历过的 在经历过特朗普的第一次任期之后其实我们现在总体来讲我们在就是对于欧美的出口的那个这个出口税光税大概不到10%左右所以整个美国光税对我们行业的影响我觉得是比较小的最多最多就是在金融跟医疗行业可能会有一些整机上面的光税税率 那其他地方的其他产品的话其实税率相对来讲还是比较低的这是一方面第二方面因为我们之前也跟特朗普认识我们有打过交道了所以我觉得他更多的可能是在组装层面就是在成品的这一块他希望把这些这些制造业回归美国那这一块其实我们已经在布局了第一方面是我们在泰国已经建有工厂所以 泰国工厂一建成而且在今年四季度会进入量产那这样的话呢就保证我们可以实现这种全球制造那来满足或者来规避一些美国对于来自像越南 ...

6.4低于了规模和净利润的下降的幅度说明公司还是保持了良好的经营创线的能力基本每股收益1块1毛钱同比下降12.7资产负债率47.1比年初下降0.6个百分点这是主要财务指标的情况也进入四季度四季度也过去了三分之一公司也是在 围绕着生产经营安全管理迎风渡冬能源供应持续提升经营质量也是继续深入推进项目建设和转型发展各项工作目前也是在积极的在做明年的生产经营计划的安排在筹划明年的一个工作同时主要还是做好今年年底收官的各项工作为明年的各项工作打好一个良好的基础 我就简单介绍到这里主持人谢谢好的感谢郭总的一个分享先关于一个投资者比较关注的几个问题我先做一个简单的提问首先咱们三季度这个业绩也是挺不错的然后像整个煤炭行业整体的业绩可能咱们的公司还是领先于整个行业的平均水平的 其中主要就是公司成本的控制还是取得了一个比较不错的一个成果所以就想问一下郭主任咱们成本方面控制的效果的原因然后以及它的持续性是怎么样的成本就这样成本咱们今年在成本端是做了大量的工作因为预期主要产品的价格 这个特别价格的中枢有所下行咱们的量呢没有一个太大的一个增量这样呢受到这些影响呢这个为了维持保持啊经营的一个稳定性啊我们在成本侧是加大了一些工作的这个力度 ...

哎,好的,好的,各位朋友下午好,这里是安克创新的机构专场交流会议啊,首先欢迎大家的一个参与啊,我是华安这个大消费团队的一个首席更新啊,我们今天是很荣幸邀请到公司的这个投资总监啊, 感谢您这个百忙之中抽出时间来做一个交流那是考虑公司近期已经发布了这个财报包括今天接的也全部都是买房的一个机构所以咱们就近期的这个新情况再做一个定向的这个沟通然后开始的话我也帮公司先行提示一下大家如果大家这一场有交流到的信息麻烦就是主要用于这个自用然后希望相关的这个笔记不用去外传也谢谢大家的一个配合 曾总然后咱们今天也是非常高度关注公司的一个经营情况要不首先就时间也交给您心情要不几分钟就您觉得比较重要的一些要点先给投资者要不做一个提示谢谢好的谢谢曾总也感谢各位投资人百忙之中抽出时间来关注和支持我们首先就是还是给大家简单介绍一下我们三级报的业绩情况 公司前三季度是实现了营收164亿同比增长39%规模净利润14.7亿同比增长21%扣费规模净利润13亿同比增长41%那其中从单季度来看的话整个营收增长还是有点加速整体营收达到68亿同比增长44%规模净利润是达到6个亿同比增长52% 分品类来看的话公司三大品类都还是实现了不错的增速整体都在30% ...

Key Points Company Overview - **Establishment and Team**: Sichuan Fude Robot Co., Ltd. was founded in 2012 with a team of experienced robotic developers. The founder, Hu, has won awards in domestic and international robot competitions. The company initially focused on non-standard automation and core robotic component research and development, now holding nearly 60 invention patents and a total of about 150 patents. - **Product Range**: The company produces harmonic drives, with an expected shipment of 53,000 to 55,000 units this year. They have developed core processing equipment for complete self-sufficiency in production processes, significantly reducing costs and achieving a gross margin of over 30%. - **Applications**: Harmonic drives are used in industrial and humanoid robots, serving customers like Zhejiang Humanoid Robot Center, Sydney Kepler, and Galaxy General. Sales volume increased by over 30% in the first half of the year, with a gross margin rising from 16% to over 30%. - **Specialized Robots**: The company has extensive experience in specialized robots, including handling card source accidents and developing nuclear emergency robots and gamma radiation source survey robots. These projects demonstrate the company's technical capabilities and lay a foundation for future product development. - **Future Direction**: The company plans to optimize harmonic drive performance, expand its applications in more industries, develop integrated joints and humanoid robots, and improve production efficiency and cost-effectiveness through self-developed equipment and processes. Harmonic Drive Achievements - **Development and Production**: The company began developing harmonic drives in 2012 and achieved mass production in 2019. This year's expected shipment is 53,000 to 55,000 units, with 44,000 units shipped by October. The market recognition of harmonic drives has significantly increased, and the company has achieved complete self-sufficiency in production processes through independent research and development of core processing equipment, significantly reducing production costs. The gross margin has reached over 30% and has room for further improvement. Market Application - **Applications**: Harmonic drives are widely used in industrial and humanoid robots, serving customers like Zhejiang Humanoid Robot Center, Sydney Kepler, and Galaxy General. Through Oben, the company also supplies products to companies like Fourier Resources. Sales volume increased by over 30% in the first half of the year, with a gross margin rising from 16% to over 30%. Specialized Robot Cases - **Cases**: The company has successfully handled card source accidents in Henan Qixian and番禺, Guangdong in 2009, the first time robots were used in such events in China. They have also developed specialized integrated cases such as nuclear emergency robots, gamma radiation source survey robots, and flying star maintenance robots. These projects demonstrate the company's technical capabilities and lay a foundation for future product development. Future Development - **Direction**: The company plans to continue optimizing harmonic drive performance, expand its applications in more industries, develop integrated joints and humanoid robots, and improve production efficiency and cost-effectiveness through self-developed equipment and processes. Humanoid Robots - **Models**: The company currently has three main humanoid robot models: T1PRO, Alpha, and TE mini, targeting high-degree-of-freedom prototypes, tool-type robots, and entertainment and scientific research markets. The company plans to achieve market landing through reasonable pricing and provide different functional structures to meet diverse needs. Collaboration Robots - **Progress**: The company's collaborative robots have started small-scale shipments, with sales of about 10 to 20 units. The product was launched in the first half of the year and has been applied in various scenarios such as university artificial intelligence research, health care industry massage, and machine tool loading and unloading. The collaborative robots have ultra-lightweight characteristics, with a self-weight of about 8 kilograms and a gripping ratio of up to 1:1 and 2:1, reaching the highest level globally. Composite Robots - **Development**: The company is developing wheel-mounted composite robots using self-developed control technology, mechanical arms, and integrated joints. These technical accumulations enable the company to have complete self-research capabilities from harmonic drives to other core components. The first-generation humanoid robot prototype was officially launched at the end of last year, with a measured weight of only 4.3 kilograms, equipped with a 1.25 kilowatt-hour battery, and with up to 71 degrees of freedom, of which 41 degrees of freedom are concentrated in the body, reaching the highest level in the industry. Humanoid Robot Characteristics - **Characteristics**: The company's humanoid robots use completely self-developed core components such as harmonic drives, drives, and servo motors, with only laser radar, 3D cameras, and a few sensors using third-party products. The hip joint peak torque can reach 450 Nm, and they have strong strength, with a double-leg load-bearing squat of 125 kilograms and a single-leg load-bearing squat of 65 kilograms. These performance characteristics provide a solid foundation for industrial scenarios or handling. In addition, the humanoid robots can achieve straight-leg walking and use an end-to-end neural network control scheme based on reinforcement learning. Innovation Patents - **Patents**: The company has multiple innovative patent technologies, including hip joint spherical design, which can achieve a peak torque of 450 Nm and include two degrees of freedom; seven-degree-of-freedom leg design, which adds a rotating degree of freedom to the lower leg; and a six-degree-of-freedom waist design, which can tilt forward and backward, tilt left and right, rotate vertically, and move left and right. In addition, they have designed a biomimetic scapula, which allows the shoulder to perform forward and backward shrugging and up and down shrugging movements, all of which originate from the ultra-lightweight and high-torque characteristics of the integrated joints. Development Direction - **Direction**: The company plans to further develop humanoid robots based on different application scenarios to meet various needs. At the same time, they are developing simplified artificial intelligence robots for cost-sensitive scenarios such as retail and elderly care. Currently, they have the ability to reduce the cost of humanoid robots to less than $20,000, which will further enhance their market competitiveness. Latest Progress and Application Scenarios - **Progress**: The company has made significant progress in the field of humanoid robots. In the past six months, their humanoid robots have participated in multiple exhibitions and have been widely reported by media such as CCTV, Xinhua News Agency, and Dongfang Satellite TV. Especially last month, CCTV reported on the robots for a long time at the artificial intelligence conference. The application scenarios of humanoid robots are very extensive, including aerospace, logistics, and education. Currently, due to some shortcomings in control technology, they are unable to demonstrate smooth movements, but it is expected that these functions will be realized soon. They have provided small batches of humanoid robot prototypes to many universities, including Zhejiang University, Chongqing University, and Southwest University of Science and Technology, to further jointly develop artificial intelligence technology. In addition, they have an important military project, namely humanoid robot pilots. China has a large number of old fighter jets such as J-5, J-6, and J-7, which cannot be transformed into informationized aircraft or the cost of transformation is too high. Using humanoid robots as pilots is a cost-effective and adaptable solution. The United States and South Korea have already successfully put similar solutions into use, and China began to study this field several years ago. Their robots are lightweight and strong, which exactly meet this application requirement. Currently, the project has entered the actual test stage, with the goal of achieving basic aircraft takeoff in the first half of next year and further optimization in the second half of the year to prepare for small-scale mass production. Product Models and Positioning - **Models**: The company currently has three main humanoid robot models: T1PRO, Alpha (Alpha), and TE mini. T1PRO is the first-generation prototype, with a height of 1.6 meters and a high degree of freedom. Alpha is based on T1PRO and has been trimmed to look more like a Chinese male, with a height of about 1.67 meters and a degree of freedom controlled between 40 and 50, positioning as a tool-type robot, with a price range of 150,000 to 250,000 yuan. TE mini is a small-sized version, with a height of about 1.3 meters and a degree of freedom between 30 and 40, mainly targeting entertainment and scientific research markets, with a target price of about 100,000 yuan. These products are designed to achieve market landing through reasonable pricing and provide different functional structures to meet diverse needs. Business Performance and Gross Margin - **Performance**: The company's harmonic drive business performed well this year, with a total sales volume increase of 30% and a significant increase in gross margin. This is mainly due to the increasingly mature production process and increased production. In addition, the product quality has continuously improved and has been recognized by more customers. However, the issue of dependence on large customers has not been completely resolved, but the number of new customers has increased significantly, more than twice the number of last year. However, the new customers have not yet formed large-scale orders because it takes a long time for industrial harmonic drives to be introduced as new suppliers and tested. Therefore, these new customers have little impact on sales in the short term, but the future prospects are promising. Joint Technology and Development Prospects - **Status**: The joint technology solution for humanoid robots has not yet been fully converged. The upper body generally adopts the harmonic drive solution, while the lower body still has various solutions, each with its advantages. Therefore, the demand for harmonic drives for humanoid robots has a high degree of customization and needs more time to form large-scale orders. However, once humanoid robots are widely popularized, the demand for harmonic drives will increase significantly. A humanoid robot requires about 10 harmonic drives, which will drive the growth of related businesses. In addition, the company is exploring new application scenarios in the military field, and currently has two or three projects that may form a certain sales volume, bringing new growth points in 2025. Capacity Reserve and Capital Market Financing - **Capacity Reserve**: The company is actively planning to meet future large-scale production needs. Due to capital market reasons, a round of private placement was temporarily terminated this year, but another round of financing is being promoted, with a current valuation of 700 million yuan. If it is successfully completed, the next round of private placement will be launched according to product conditions, with a pre-funding valuation expected to reach 1 billion yuan. They hope to raise 100 million to 1.5 billion yuan to develop humanoid robots and their core technologies. These funds will help accelerate technological research and development and market promotion to achieve wider application. Expansion Plans and Investment Goals - **Expansion Plans**: The company plans to expand the production capacity of harmonic drives to 50,000 to 100,000 units by 2025. Currently, the maximum annual production capacity of the factory is more than 60,000 units, and this year's expected production capacity is more than 50,000 units, with the capacity utilization rate approaching saturation. Therefore, the company is planning to further expand production capacity. If an additional 50,000 units of annual production capacity is added, the equipment investment is estimated to be 30 million yuan, which is only a fraction of that of other companies in the industry, demonstrating significant cost advantages. In addition, the company has purchased a piece of land in Zhuhai and plans to start the construction of a new plant through an 80 million yuan private placement. If the military project is successfully signed, an additional 100,000 units of annual demand will be added, and the company will further expand the production capacity based on the 100,000 units in 2025. By 2026, the humanoid robot market may have a slight increase, and the company will further deploy the production capacity of harmonic drives according to market demand. New Product Placement and New Business Establishment - **Placement**: The discussions have resulted in the decision to retain the harmonic drive and humanoid robot businesses within the mother company, Tian Tian Robot. For new businesses such as collaborative robots, composite robots, and new application fields such as nanocoating technology, the company may establish new subsidiaries or cooperate with resource parties to establish joint ventures. At the beginning of this year, the company established a wholly-owned subsidiary in Shandong to promote surface strengthening technology, which is not only applied to harmonic drives but also targets the market demand for guide bearings in the automotive industry and special bearings for rolling steel in the steel industry. Humanoid Robot Reinforcement Learning Training - **Data Volume and Success Rate**: Currently, the specific success rate has not been counted, but the company indeed has relatively few artificial intelligence accumulations in humanoid robots, so more efforts have been focused on hardware and the cerebellum. Currently, functions such as walking and target recognition have been integrated, but the operation based on large models and its generalization ability still need to be improved. The company has actively cooperated with Tsinghua University teams and downstream partners to leverage their artificial intelligence capabilities to accelerate the landing capabilities. In the demonstration, the walking of humanoid robots is based on reinforcement learning methods rather than traditional algorithms. Currently, they are using the NVIDIA Isaac platform for training. Most groups have abandoned the previous MOTOBASIS method and turned to reinforcement learning solutions this year. Due to time constraints, they directly adopted the reinforcement learning method and did not continue to study the MOTOBASIS solution. Differences in Ability in the Field of Double-Legged Robots - **Factors**: The differences in ability among different teams in the field of double-legged robots mainly come from the quality and quantity of training data, the selection of models, and the influence of hardware characteristics. Although hardware has an impact on performance, the greater differences come from the algorithms themselves and the training framework. Taking NVIDIA as an example, it has recently launched a small model specifically for humanoid robots, demonstrating its leading position in technology. In the future, only a few large companies like Google and NVIDIA will have the ability to carry out complete end-to-end large model training and maintain a leading position in technology. Therefore, a few companies may dominate the market, providing standardized models, while other companies can adapt and optimize based on these models to achieve functions. Competition of Small Humanoid Robot Companies - **Competition**: Small humanoid robot companies may face significant challenges because they are unable to compete with large companies in large model training. However, these companies can enhance their competitiveness by focusing on hardware performance, appearance design, weight control, cost management, and reliability. In addition, they can use general models provided by large companies to form their own characteristics through localization or optimization to meet the personalized needs of customers in different scenarios. For example, in China, most human-computer interaction companies currently focus on hardware, and can develop differentiated development to play competitive advantages in specific application scenarios. Cooperation with Huawei - **Cooperation**: The company has not yet engaged in cooperation with Huawei in the field of humanoid robots and related software, large model operating systems, and other aspects. However, the company was invited to participate in the Silei meeting, but the meeting was postponed for some reasons. Harmonic Drive Improvements - **Improvements**: The company has optimized the harmonic drives for industrial robots, collaborative robots, and humanoid robots according to the Japanese HD standard, focusing on improving accuracy, rigidity, life, and noise control. Specific improvements include surface strengthening wear-resistant technology and material and structure optimization, bringing the performance close to the global leading level. In the design of harmonic drives for collaborative robots, the company has developed a new type of ultra-lightweight and integrated harmonic drive, integrating the servo motor into the reducer to achieve a significant reduction in volume and weight. This innovation enables the collaborative arm to reach the highest gripping ratio of 2:1 globally. In the application of humanoid robots, the company further optimizes the transmission efficiency, improves transparency, and integrates the motor and reducer to make the joints easier to install. In addition, force control functions are integrated to meet the special needs of humanoid robots. These improvements make harmonic drives in different fields have different price and load characteristics, adjusted according to specific application scenarios. Price and Load Differences - **Price and Load**: Currently, the price of human resources and collaborative robots is relatively high, mainly due to the cost of redesign and the insufficient current market demand. In contrast, the cost of industrial integration is the lowest. However, with the increase in future market demand, it is expected that the price of human resources-related products will decrease in three years and may be lower than the current price of industrial harmonic drives. This is because the civil market has higher requirements for cost control. The company will strive to respond to this trend by improving the quality of reducers and reducing costs. Load Capacity in Different Fields - **Load Capacity**: Industrial harmonic drives have relatively low load capacity requirements because the volume of equipment in industrial applications is not strictly limited, and larger models can be selected to meet load requirements. For ultra-lightweight collaborative robots and humanoid robots, due to volume restrictions, high load capacity needs to be achieved in a limited space, which requires more technical investment. However, the precision requirements of humanoid robots are slightly lower than those of industrial applications, so some trade-offs can be made. Role in the Humanoid Robot Industry - **Role**: The company is the first local enterprise in Sichuan Province to achieve ground walking humanoid robots and has received attention from provincial departments. The company's clear positioning is to focus on the research and production of humanoid robots, which is the core direction of the company's future development. Competitive Advantages Compared to Competitors - **Competitive Advantages**: The company's biggest competitive advantage lies in cost control. Currently, the performance of the company's products is not inferior to Midea, but there is still a gap with HD. This year, the average selling price of the company's products is about 550 yuan, with a gross margin of about 30%. Greenland Slope currently sells for about 700 yuan, and its gross margin may be affected by price cuts. The company has achieved significant cost advantages through independent research and development of core supporting equipment such as cutting tools, fixtures, clamps, consumables, and machine tools. In addition, the company plans to carry out production line automation transformation in 2025 to further improve quality and reduce costs. Cooperation with Tesla - **Cooperation**: Currently, the company has no substantial cooperation with Tesla in the field of humanoid robots.

好的 尊敬的各位机构投资者大家晚上好我是海东有色陈先龙那么本场调查会议由我和我们同事干调也要一起为大家介绍华语股业的一个投资逻辑那么我想先介绍一下为什么我们在这个时间点重点推荐华语股业 华语股业也是我们放在我们整个研究所的11月的一个精选股票这里面那么我们现在 其实有这么几个方面首先来讲的话就是根据我们去印尼的一个调研的话我们的理解其实现在涅架到现在这个位置已经实际上来讲印尼已经逐步展现出涅这个行业会达到底部区域然后的话基本上来讲的话已经正在出清的这样一个状态 那我们可以看到前面这个就是国内德龙这边的话他其实是已经这个先告这个破产了然后的话呢在印尼这边的话呢现在这个镍铁镍铁的厂的话呢这块基本上也不再扩然后的话呢石板镍这边的话也扩的没有特别多然后现在他已经出现两个现在一个动态一个是这个印尼已经开始从这个 就是从菲律宾进口镍矿第二是整个的印尼的话它有对自己的镍矿的话它有一个内贸指导价这个内贸指导价然后现在现货价格呢实际上比它这个内贸指导价高15到20美金一吨那么年初的话是高5美金这样的一个情况所以现在的一个情况的话呢它整体上来讲就是 从这几个方面可以看得出来现在印尼的整个的链行业的话其实整体上来讲随着这个链矿的一 ...

感谢各位参加我们今天早上的这个聚焦上游第八期的电话会议今天我们的重点来讨论一下杰瑞股份的近期这个海外订单继续突破的这个底层的驱动那么这个会议其实也是我们聚焦上游的这个第八次的这个交流上一次我们探讨了纽纬股份为什么能够在海外持续的突破反正在我们会议之后我想市场的反馈包括这个市场的表现都是比较不错的那么其实杰瑞作为这个国内比较老牌的这个流浮的龙头公司 那么其实过去的业务一直的主要的区域是在国内如果看公司过去的收入的结构从2018年国内的资产上储开始那国内的整个收入体量一度是海外的三倍甚至四倍那国内占据的公司主要的业务的来源那利润率也是一样国内的毛利率其实一般都是在35%到40%之间那海外其实长期是在20%左右其实公司过去的盈利来源更加主要来自于国内所以公司应该是一家以国内业务为核心的布局 直到2021年 我们看到公司的海外收入开始出现了减分式的上升 尤其是昨晚公司发布了新的公告是签署了新的中东的合同 来自于阿联酋乌扎比国家收入公司的一个大型的经厂的受众化改造EPC项目 那么这个金额也才22亿美金应该算是一个我觉得非常重要的历史性突破的这么一个变化因为在过去全球海外用数字化改造包括大型EPC项目的过程中几乎很少见到 ...

让一个情况所有的东西都是保持一致的话那可能最大的变量就是这个预定利率下调了那你也可以看得到就是说其实从去年预定利率下调我们其实之前也跟市场提过就是今年的那些margin的上涨其实主要是由两个方面的原因驱动的一个就是预定利率下调本身所带来的一些 好 明白 我们感觉领导还是比我想的要更 更积极一点确实我觉得我们也可以稍微更乐观一点对然后关于这个假设的话我想多问你一嘴其实在今年3月底我们披露年报的时候我们就会发现一个点就是我们调整的投资受益率假设是比如说将近50个BP左右然后贴心率的假设大概是大概是下降了1.5大概是1比3的一个比例 但是肯定的可能普遍都是1比4或者更高的一些情况就是想这个当然虽然是个老问题了但是想一个新的问法就是我们在确定这个两者之间的这个gap之间是有一些什么样特殊的一个考虑一般来说相对来说大家可能采用9的阶层就会更多一点我们采用9.5多出大概50个BT左右的考量的原因是什么这是第一个第二个就是因为去年的这个时候说实话那时候曾老师可能还在行业里面对我们记得 那个时候其实行业关于探讨经参假设调整其实已经陆陆续续感觉七七八八已经在做很多预案了今年也到了这个关口了我不晓得站在您这边角度来看最近协会或者 ...

那么近期已经发布了财报然后包括今天接的也全部都是买房的一个机构就信息的这个经济情况做一个地方的一个沟通所以开始的时候也先提示一下大家可以就主要用微信交流不用去外传然后我们也很关心公司时间的话要不就首先交给咱们公司这边要不辛苦公司领导就一分钟左右开个场就您觉得比较重要的事情可以先在开始的时候做一个核心提示 我再补充一下因为今天的话我们还邀请到了我们财务管理部的部长杨部长来参与这次的交流因为三级报之后我们基本上已经跟市场交流了三级度情况 大家也比较清楚了就1到9月份的话整体收入是227个亿同比提升19%利润5.3个亿同比提升百分之6点几个点7到9月份的话我们收入还是持续保持了23个点的增长就单季度但是利润的话同比有下滑18个点的下滑大概1.15个亿主要单季度这个利润下滑主要还是受国内冰淇品牌业务和国内空调品牌业务的影响 因为主要是国内消费市场实际低迷大盘这个这个冰雪和这个空调大盘持续下滑所以这个中单的话新增加续那么中单价格这个调整那么中间价格这个行业内有调整所以我们也跟随了那么同时的话成本端也受到特别是九月份当材料有二到三个点是上涨的这个影响也是同期也就是说在销售价格和成本端都受到了挤压所以单季度 内销品牌业务的 ...

基础设计的硬件类产品布局很全面它在这个路网空网运营侧其实也是有很大的这个想象空间的那其实我们在这一波这个市场反弹里面公司其实涨幅并不多然后后面可以预期的催化其实也比较多包括低空的底层设计包括特务协同招投标的这个推进等等其实是值得这个长期关注甚至买入的然后我们今天其实也很荣幸邀请来了这个 先发的董秘石总来跟我们聊聊公司的情况然后也欢迎石总那要不石总先简单介绍一下公司近期的一些情况然后我们再QA感谢好的感谢方正的朋友是这样我首先我首先先把我们整个业务布局的考虑跟大家报告一下因为公司基本做的业务咱也都比较了解主要交通和安防两大块交通 今年一共总体收入接近八十个亿嘛交通差不多三十里安防五十个亿嘛基本上这么个比例结构那么今年的六月份开始那个车辆一体化的招标呢也看到这个规模比较大因为现在的这个服务自动驾驶嘛城市管理嘛只不过就最近这几个月吧大家从这个体感上来看的话有些招标呢感觉就是一个就推后了一个呢可能这个量呢没那么大所以呢这个呢这个事情呢我觉得包括我们跑这些地方吧跟最近这个中央化债 包括到明年年初很多地方开两会嘛他明年的一些预算怎么样去分配这个本级财政和国家的这些特别国债这个比例啊那么这次划占了可能对明年的预算他还是有一 ...