Xingshuai (002860) announced that Luo Anyang and you Ziyin of Xinda Securities Co., Ltd. investigated our company on September 23, 2021, which was received by Lu Qunfeng, deputy general manager and secretary of the board of directors, and Tian Bihua, representative of securities affairs.

The main contents of this survey are as follows:
Lu Qunfeng, deputy general manager and secretary of the board of directors, briefly introduced the basic situation of the company. Welcome Mr. Luo and Mr. you of Xinda Securities to come to the company to conduct research and guidance to Xingshuai. Xingshuai was listed on the small and medium-sized board of the Shenzhen Stock Exchange in April 2017. as a high-tech enterprise, it has strong innovation ability and independent research and development ability. it organizes or participates in the formulation of national or industry standards and is highly recognized by customers. The company's main business is R & D, production and sales of various types of thermal protectors for refrigeration compressors, starters, sealed terminal posts, temperature controllers for small household appliances, small and medium-sized and micro motor products, and solar photovoltaic modules. in the future, the company will focus on the photovoltaic field. In the first half of 2021, the company continued to give full play to the advantages of the industry, solidly carried out production, operation and management activities, actively opened up new markets, increased revenue and reduced expenditure, and made sufficient orders, achieving an operating income of 734 million yuan and a net profit of 85.23 million yuan, up 76.20% and 60.68% respectively over the same period last year.
II. Question session
1. What is the layout of the company's white goods business in the future? The performance of the company's white goods sector can maintain steady growth every year, constantly breaking through the all-time high. In the future, we will create an integrated and two-wing development model, that is, "based on the home appliance plate, take the new energy plate as the guide", expand the business territory and actively give back to the majority of investors.
2. Does the increase in the price of raw materials have an impact on the gross profit margin of the company's white goods sector? The increase in the price of commodity raw materials in the first half of this year has indeed tested the company's profitability to a great extent, but the company has taken various measures to strengthen internal management, increase investment in research and development, effectively carry out technical transformation, and carry out production and operation in a down-to-earth manner. negotiate with suppliers to lock up the price of raw materials in advance, so it maintains a good gross profit margin.
3. Why do Canadian customers choose Fuller New Energy as the only domestic supplier? There are mainly several points: first, a high degree of cooperation with customers, high-quality and reliable service; second, Fuller new energy advanced and efficient production equipment; third, perfect quality inspection system, professional technical advantages; fourth, the company's management team has rich photovoltaic experience.
4. Will the company consider other products involved in the photovoltaic field in the future? Yes, for example, solar panels. Solar panels are the core element of solar modules. While expanding and strengthening photovoltaic module products, we look forward to the opportunity to cooperate with relevant companies producing solar panels. The company has ample cash reserves and can cooperate through other forms of financing if necessary. The reception staff of the company have fully communicated and communicated with the research personnel, and in strict accordance with the relevant regulations, there is no leakage of major undisclosed information, and at the same time, the research "commitment" has been signed in accordance with the requirements of the Shenzhen Stock Exchange and the company's "working system for receiving specific objects of investigation and interview".

Xingshuai's main business: production: relays, kitchen electronic equipment, chip components, sensitive components, frequency conversion controllers, sealed wiring sockets. Sales: products produced by the company; import and export of goods (except for projects prohibited by laws and administrative regulations, projects restricted by laws and administrative regulations can be operated only after obtaining permission) (projects that must be approved according to law, business activities can only be carried out with the approval of the relevant departments).

According to the 2021 medium report of Xingshuai, the company's main income was 734 million yuan, up 76.2% from the same period last year; the net profit from the return to the mother was 85.2304 million yuan, up 60.68% from the same period last year; deducting 77.9914 million yuan from non-net profit, up 62.57% from the same period last year; debt ratio 40.76%, investment income 6.8339 million yuan, financial expenses 8.0746 million yuan, gross profit margin 23.42%.