Group 1: Nuclear Power Overview - Nuclear power has become a significant energy choice globally, with its share in total global electricity generation projected to be 9% in 2024[1] - As of March 2025, there are 417 operational nuclear reactors worldwide, with a total installed capacity of 377 million kW[1] - China has 58 operational nuclear reactors and an installed capacity of 60.96 million kW, making it the world's largest nuclear power producer[1] Group 2: Nuclear Power Industry Chain - The nuclear power industry chain includes nuclear fuel supply, equipment manufacturing, construction, and operation[1] - The market share of nuclear power in China's electricity trading has increased from approximately 30% in 2020 to 46.1% in 2024[1] - The average on-grid electricity price for nuclear power in China is around 0.41 and 0.40 yuan per kWh for China National Nuclear Corporation and China General Nuclear Power Group, respectively[1] Group 3: Investment Recommendations - Recommended stocks related to nuclear power include Ruiqi Intelligent Manufacturing, Klate, Tianli Composite, and others, focusing on various aspects of the nuclear supply chain[3] - These companies are involved in high-end equipment manufacturing, cooling systems, composite materials, and safety monitoring solutions for nuclear power plants[3] Group 4: Risks and Challenges - Potential risks include industry policy adjustments, construction risks of nuclear projects, and nuclear safety concerns[3]

Group 1 - Nuclear power is an efficient and clean energy source, with global nuclear power capacity steadily increasing. As of June 2025, China's operational nuclear power units reached 58, with a total capacity of 60.96 million kilowatts, marking the first time it has become the world's largest nuclear power producer [2][8][32] - The nuclear power industry chain includes nuclear fuel cycle, equipment manufacturing, construction, and operation. The upstream involves core and auxiliary equipment manufacturing, engineering management, and nuclear fuel cycle industries. The midstream includes the construction and operation of nuclear power plants, while the downstream focuses on electricity sales to end users [2][8][25] - The market share of nuclear power in China's electricity trading has increased from approximately 30% in 2020 to 46.1% in 2024, indicating a trend towards market-oriented transactions [2][8][32] Group 2 - Recommended companies related to nuclear power on the Beijing Stock Exchange include: 1. Ruichi Intelligent Manufacturing, specializing in high-end process equipment and involved in nuclear energy for over 15 years 2. Klate, the only certified nuclear power fan manufacturer in Shandong Province 3. Tianli Composite, focusing on layered metal composite materials, a rare domestic supplier for nuclear projects 4. Jikang Technology, providing intelligent monitoring solutions for nuclear power plants with experience in major projects 5. Qiuguan Cable, specializing in high and low voltage power cables for nuclear projects 6. Litong Technology, which completed trials for 43 types of nuclear hoses in 2024 and plans project acceptance in 2025 7. Guangsha Environmental Energy, collaborating with Shanghai Nuclear Engineering Research and Design Institute on efficient heat exchangers 8. Changfu Co., a pioneer in domestic nuclear valve actuators, promoting the localization of nuclear valves 9. Gebijia, an innovative company in special functional glass, with some radiation-proof glass products applied in the nuclear industry 10. Qifeng Precision, a high-end fastener technology company working on the localization of nuclear-grade fasteners 11. Kunbo Precision, focusing on precision forming parts and vacuum furnace bodies, expanding nuclear maintenance equipment clients in 2024 [2][8][3] Group 3 - The global nuclear power generation accounted for 9% of total electricity generation in 2024, driven by increasing electricity demand and environmental awareness. Nuclear power is seen as a competitive energy choice, especially for rapidly developing countries lacking traditional fossil fuel resources [2][23][36] - The average utilization hours of nuclear power plants significantly exceed those of other power generation forms, with nuclear plants averaging 7,670 hours in 2023 compared to 3,592 hours for other types [2][24][31]

Group 1 - The power grid equipment sector experienced a significant decline, with major companies such as Anke Intelligent Electric (300617) and Qiuguan Cable dropping over 9% [1] - Morning Light Cable saw a decrease of over 7%, indicating a broader trend of falling stock prices in the sector [1] - Other companies like Xinling Electric (301388) and Jinlongyu (002882) also faced declines, contributing to the overall downturn in the industry [1]

Core Viewpoint - The company has achieved significant breakthroughs in the power market, securing multiple key projects from State Grid and Southern Grid, with a total bid amount exceeding 1.3 billion yuan, showcasing its core competitiveness in the power cable sector [1][2] Group 1: Project Achievements - The company successfully won 15 procurement projects from State Grid, with a total bid amount of 831 million yuan, covering various types of power cables and electrical equipment cables across more than 10 provinces [1] - In the Southern Grid bidding, the company achieved a total bid amount of 509 million yuan, with notable projects including a 428 million yuan bid for distribution network materials [1] Group 2: Competitive Strength - The company has maintained a stable bidding share in State Grid and Southern Grid tenders for several years, reflecting high recognition in product quality, technical strength, and market reputation [2] - The company has established a competitive advantage in the high-voltage cable sector, particularly with its 220kV products, and is advancing the development of 500kV ultra-high voltage cables [2] Group 3: Market Strategy and Future Outlook - The company is actively expanding its market presence, focusing on both domestic core markets and international markets, particularly in Latin America [2] - The recent success in securing over 1.3 billion yuan in projects is attributed to the company's long-term commitment to technological investment, strict quality control, and optimized market strategies [2]

证券代码：834682 证券简称：球冠电缆 公告编号：2025-024 宁波球冠电缆股份有限公司 关于中标国家电网及相关项目的提示性公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 近日，宁波球冠电缆股份有限公司（以下简称"公司"）陆续收到国家电网 有限公司（以下简称"国家电网""国网"）、国网各省电力公司以及隶属国家电 网产业单位相关的《中标通知书》,公司近期合计中标国家电网及相关项目 43,946.75 万元（含税），现将具体中标情况公告如下： 一、中标项目基本情况 1、国家电网有限公司 2025 年华北区域 10kV 电力电缆协议库存第一次联合 采购项目（招标编号： GWLHCG-HB10kVDLDL-2501）10kV 电力电缆（包 07、041、 071），中标金额 13,104.53 万元；2025 年华北区域联合采购第一次低压电力电 缆协议库存招标采购（招标编号：GWLHCG-HBDYDLDL-2501）低压电力电缆（包 089）, 中标金额 1,343.82 万元。 2、国网浙江省电 ...

Financial Performance - The company's basic earnings per share decreased by 25% to 0.0600 yuan in Q1 2025 compared to Q1 2024, which was 0.0800 yuan [1] - The net profit for Q1 2025 was 0.16 billion yuan, down 23.81% from 0.21 billion yuan in Q1 2024 [1] - The return on equity (ROE) fell by 27.41% to 1.43% in Q1 2025 from 1.97% in Q1 2024 [1] - The total revenue for Q1 2025 increased by 5.59% to 6.42 billion yuan compared to 6.08 billion yuan in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 58.76 million shares, accounting for 37.44% of the circulating shares, with a decrease of 356,600 shares from the previous period [1] - The largest shareholder, Ningbo Xingbang Investment Consulting Co., Ltd., holds 19.84 million shares, representing 12.64% of the total share capital, with no change [2] - New entrant in the top ten shareholders is the China Europe North Securities 50 Component Index Initiated A, holding 6.78 million shares, accounting for 0.43% [2] Dividend Distribution - The company has decided not to distribute dividends or transfer shares this time [3]

证券代码：834682 证券简称：球冠电缆 公告编号：2025-022 4.发出监事会会议通知的时间和方式：2025 年 4 月 22 日以电话及电子邮件方式 发出 5.会议主持人：监事会主席刘惠丽女士 宁波球冠电缆股份有限公司 第五届监事会第十一次会议决议公告 本公司及监事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 4 月 27 日 2.会议召开地点：公司行政楼三楼会议室 3.会议召开方式：现场召开 本议案无需提交股东会审议。 6.召开情况合法、合规、合章程性说明： 会议的召开符合《公司法》及《公司章程》等相关法律法规的规定，所作决 议合法有效。 （二）会议出席情况 会议应出席监事 3 人，出席和授权出席监事 3 人。 二、议案审议情况 （一）审议通过《2025 年第一季度报告》议案 1.议案内容： 本议案内容详见 2025 年 4 月 28 日披露在北京证券交易所信息披露平台 （http://www.bse.cn/）上的《宁波球冠电 ...

证券代码：834682 证券简称：球冠电缆 公告编号：2025-021 （一）会议召开情况 宁波球冠电缆股份有限公司 第五届董事会第十二次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 7.召开情况合法、合规、合章程性说明： 会议的召开符合《公司法》及《公司章程》等相关法律法规的规定，所作决 议合法有效。 （二）会议出席情况 会议应出席董事 9 人，出席和授权出席董事 9 人。 董事赵健康因工作原因以通讯方式参与表决。 二、议案审议情况 1.会议召开时间：2025 年 4 月 27 日 2.会议召开地点：公司六楼会议室 3.会议召开方式：现场及通讯方式 4.发出董事会会议通知的时间和方式：2025 年 4 月 22 日以电话及电子邮件 方式发出 5.会议主持人：董事长陈永明先生 6.会议列席人员：公司监事及高级管理人员 本议案无需提交股东会审议。 （一）审议通过《2025 年第一季度报告》 1.议案内容： 本议案内容详见 2025 年 4 月 28 日披露在北京证券 ...

Financial Performance - Net profit attributable to shareholders decreased by 24.11% to CNY 16,075,919.70 year-on-year[10] - Operating revenue rose by 5.63% to CNY 641,973,029.81 for the first quarter of 2025[10] - Total operating revenue for Q1 2025 reached ¥641,973,029.81, an increase from ¥607,729,165.58 in Q1 2024, representing a growth of approximately 5.6%[35] - Net profit for Q1 2025 was ¥16,075,919.70, down from ¥21,184,145.42 in Q1 2024, reflecting a decrease of approximately 24.1%[36] - Total profit for Q1 2025 was ¥19,411,337.62, compared to ¥24,851,112.17 in Q1 2024, representing a decline of about 21.8%[36] - Basic and diluted earnings per share for Q1 2025 were both ¥0.06, compared to ¥0.08 in Q1 2024, showing a decline of 25%[37] Assets and Liabilities - Total assets increased by 5.55% to CNY 2,580,269,186.37 compared to the end of last year[10] - Total liabilities rose to ¥1,448,417,435.70, up from ¥1,328,873,690.22, indicating an increase of about 9.0%[30] - Current liabilities totaled ¥1,169,244,820.19, compared to ¥1,094,124,529.10, reflecting a rise of approximately 6.5%[30] - Non-current liabilities increased to ¥279,172,615.51 from ¥234,749,161.12, marking a growth of around 18.9%[34] - Shareholders' equity reached ¥1,131,851,750.67, up from ¥1,115,775,830.97, showing an increase of about 1.4%[30] Cash Flow - Cash flow from operating activities showed a significant decline of 406.43%, resulting in a net outflow of CNY -156,173,822.12[10] - Operating cash inflow for Q1 2025 was CNY 603.77 million, a decrease of 9.6% compared to CNY 667.80 million in Q1 2024[39] - Operating cash outflow for Q1 2025 totaled CNY 759.95 million, an increase of 23.1% from CNY 616.84 million in Q1 2024[40] - Net cash flow from operating activities for Q1 2025 was -CNY 156.17 million, compared to a positive CNY 50.97 million in Q1 2024[40] - Total cash and cash equivalents at the end of Q1 2025 were CNY 146.28 million, down from CNY 268.75 million at the end of Q1 2024[40] Inventory and Receivables - Inventory increased by 40.77% to CNY 604,334,183.70, driven by higher copper prices and increased stock levels[11] - Accounts receivable increased from 1,153,515,069.35 CNY to 1,174,272,884.09 CNY, reflecting a growth of about 1.79%[28] - Inventory rose significantly from 429,310,761.10 CNY to 604,334,183.70 CNY, an increase of approximately 40.67%[28] Shareholder Information - The total number of ordinary shareholders increased to 13,697 by the end of the reporting period[17] - The total number of shares held by the top ten shareholders is 171,838,636, representing 63.54% of the total shares[19] - The largest shareholder, Ningbo Beilun Thomas Investment Co., Ltd., holds 54,299,700 shares, accounting for 20.08%[19] Other Financial Metrics - The company's debt-to-asset ratio (consolidated) rose to 56.13%, up from 54.36% at the end of the previous year[10] - The weighted average return on net assets based on net profit attributable to shareholders decreased to 1.43% from 1.97%[10] - Research and development expenses in Q1 2025 amounted to ¥23,191,679.62, up from ¥21,841,112.02 in Q1 2024, marking an increase of about 6.2%[35] - Financial expenses for Q1 2025 were ¥6,687,550.34, slightly higher than ¥6,256,100.69 in Q1 2024, which is an increase of approximately 6.9%[35] - Other income for Q1 2025 was ¥3,181,621.16, down from ¥6,422,090.52 in Q1 2024, indicating a decrease of about 50.5%[35]

证券代码：834682 证券简称：球冠电缆 公告编号：2025-020 宁波球冠电缆股份有限公司 2024 年年度股东大会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 4 月 22 日 2.会议召开地点：宁波球冠电缆股份有限公司行政楼一楼会议室 3.会议召开方式：现场投票和网络投票相结合方式召开 4.会议召集人：公司董事会 5.会议主持人：董事长陈永明先生 6.召开情况合法、合规、合章程性说明： 召开本次股东大会的议案已经第五届董事会第十一次会议审议通过，本次 股东大会的召集、召开程序符合《公司法》等相关法律、法规及《公司章程》 的规定。 （二）会议出席情况 出席和授权出席本次股东大会的股东共 11 人，持有表决权的股份总数 169,187,676 股，占公司有表决权股份总数的 62.5694%。 其中通过网络投票参与本次股东大会的股东共 3 人，持有表决权的股份总数 8,510 股，占公司有表决权股份总数的 0.0 ...