Core Viewpoint - Nord Shares announced that its stock price experienced an abnormal fluctuation, with a cumulative increase of 20% over three consecutive trading days from February 13 to February 25, 2026 [1] Group 1 - The company confirmed that there are no undisclosed significant information regarding the company, its controlling shareholder, or actual controller as of the announcement date [1]

证券代码：600110 证券简称：诺德股份 公告编号：临 2026-009 诺德新材料股份有限公司 股票交易异常波动公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 诺德新材料股份有限公司（以下简称"公司"）股票价格于 2026 年 2 月 13 日、2026 年 2 月 24 日和 2026 年 2 月 25 日连续三个交易日内日收盘价格 涨幅偏离值累计达到 20%。根据上海证券交易所的相关规定，属于股票交易异常 波动情形。 经公司自查并向公司控股股东、实际控制人书面函证核实，截至本公告 披露日，公司、公司控股股东及实际控制人不存在应披露而未披露的重大信息。 重大风险提示： 1、2024 年 9 月 6 日，公司及公司董事长陈立志、副董事长许松青、董事会 秘书王寒朵因涉嫌信息披露违法违规收到中国证监会送达的《立案告知书》。 经公司自查，公司目前生产经营活动一切正常，内外部经营环境未发生重大 变化。公司主营业务为锂离子电池用电解铜箔的研发、生产和销售，产品主要应 用于锂电池生产制造。经财务部门初步测算，预计 ...

Core Viewpoint - The PCB (Printed Circuit Board) sector in the A-share market has become a focal point, with significant price increases across the entire industry chain, indicating strong capital inflow and investor interest. Group 1: Company Highlights - **Mingyang Circuit (300739.SZ)**: Latest stock price is 29.30 CNY, with a daily increase of +17.06%. The company focuses on small-batch PCB research and production, covering HDI boards, thick copper boards, and high-frequency boards, widely used in various sectors including industrial control and AI [1]. - **Dingtai High-Tech (301377.SZ)**: Latest stock price is 212.50 CNY, with a daily increase of +11.75%. It is a global leader in PCB drilling needles, providing specialized consumables for PCB processing and serving major clients like Shenzhen South Circuit [2]. - **Zhongfu Circuit (300814.SZ)**: Latest stock price is 91.00 CNY, with a daily increase of +11.42%. The company offers high-reliability, customized PCB products, focusing on communication and automotive electronics [3]. - **Jiuri New Materials (688199.SH)**: Latest stock price is 30.85 CNY, with a daily increase of +11.37%. It is the largest domestic supplier of photoinitiators, essential for PCB ink, aiding in the PCB photolithography process [4]. - **Delong Laser (688170.SH)**: Latest stock price is 50.80 CNY, with a daily increase of +9.58%. The company provides laser precision micro-processing equipment for PCB and FPC applications [5]. Group 2: Additional Company Insights - **Nord Shares (600110.SH)**: Latest stock price is 8.17 CNY, with a daily increase of +9.96%. The company specializes in the research, production, and sales of electrolytic copper foil, crucial for the PCB industry [6]. - **Zhongtung High-Tech (000657.SZ)**: Latest stock price is 58.83 CNY, with a daily increase of +10.00%. Its subsidiary is a leader in PCB micro-drilling, with advanced technology and leading production capacity [8]. - **Dongcai Technology (601208.SH)**: Latest stock price is 31.74 CNY, with a daily increase of +10.02%. The company focuses on electronic-grade resin materials, essential for high-frequency PCBs, supplying major clients like NVIDIA and Huawei [9]. - **Shenghong Technology (300476.SZ)**: Latest stock price is 292.58 CNY, with a daily increase of +9.31%. It is among the top PCB manufacturers in China, specializing in high-precision multi-layer and HDI boards [10]. - **Changhai Shares (300196.SZ)**: Latest stock price is 22.10 CNY, with a daily increase of +9.03%. The company produces PCB electronic felt, a key material for CEM-3 copper-clad laminates [11]. - **Hongchang Electronics (603002.SH)**: Latest stock price is 11.54 CNY, with a daily increase of +8.97%. It is a leading company in electronic-grade epoxy resin, providing essential materials for PCB production [12]. - **Copper Crown Copper Foil (301217.SZ)**: Latest stock price is 48.82 CNY, with a daily increase of +8.61%. The company is a leader in high-performance electronic copper foil, with significant production capacity [13]. - **Sanfu New Technology (688359.SH)**: Latest stock price is 84.30 CNY, with a daily increase of +8.02%. The company focuses on PCB surface treatment technologies, serving major PCB manufacturers [14]. - **Dazhu Laser (002008.SZ)**: Latest stock price is 63.38 CNY, with a daily increase of +7.73%. The company provides comprehensive solutions for PCB manufacturing equipment [15].

Core Viewpoint - Nord Shares (维权) announced a significant stock price fluctuation, with a cumulative increase of 20% over three consecutive trading days, indicating abnormal trading activity [1] Group 1: Company Operations - The company conducted a self-inspection and confirmed that its production and operational activities are normal [1] - There have been no significant changes in the internal and external operating environment [1] Group 2: Business Focus - The main business of the company involves the research, production, and sales of electrolytic copper foil for lithium-ion batteries [1] - The products are primarily used in the manufacturing of lithium batteries [1]

Core Viewpoint - The stock of Nord Co. experienced an abnormal price fluctuation, with a cumulative increase of 20% over three consecutive trading days in February 2026, prompting a self-examination by the company [1] Group 1: Stock Performance - The stock price fluctuation was characterized by a cumulative increase of 20% over three trading days [1] - The current price-to-earnings (PE) ratio stands at -62.2 times [1] Group 2: Financial Outlook - The company anticipates a net profit of -260 million yuan for the fiscal year 2025, with a non-recurring net profit expected to be -175 million yuan [1] Group 3: Regulatory Issues - The company and its actual controller are under investigation for violations, with cases filed in September 2024 and April 2025, but no conclusions have been reached yet [1]

Group 1: Market Trends - The PET copper foil sector continues to rise, with Dongcai Technology (601208) hitting the daily limit, and Nord Shares (600110) previously reaching the limit as well, alongside other companies like Ashi Chuang (300706), Defu Technology (301511), Zhongyi Technology (301150), Shuangxing New Materials (002585), and Sanfu New Science (noted for following the trend) [1] Group 2: Industry Insights - Guojin Securities indicates that the processing fee for consumer-grade PCB copper foil is expected to increase by 2,000 yuan/ton by February 2026 compared to the end of 2025 [2] - The demand for AI is rapidly expanding, leading to a competition for resources, which is causing traditional industries to experience a significant drawdown of equipment, personnel, and capital, resulting in supply shortages [2] - The competition is intensifying, prompting companies to upgrade their capacities to maintain technological advantages, while the rapid evolution of AI technology introduces uncertainties in product performance and yield [2] Group 3: Company Developments - Copper Crown Copper Foil (301217) has established multiple full-process production lines for HVLP copper foil, with a full order book as of January 28 [3] - Jiemai Technology (002859) reported in December 2025 that its HVLP copper foil has been sent to Doosan in South Korea for testing [4] - Baoding Technology (002552) produces HVLP copper foil primarily for use in 5G base stations and flexible circuit boards [5] - Jiayuan Technology is currently in the customer verification phase for its HVLP copper foil products as of September 2025 [6] - Yihua New Materials (301176) has supplied RTF copper foil to customers and is in the verification phase for HVLP copper foil as of September 2025 [7] - Fangbang Shares is engaged in the development and testing of HVLP copper foil as of August 2025 [8] - Hongtian Shares (603800) has high-end copper foil equipment that can produce both PCB and HVLP copper foil, serving clients including Nord Shares and Jiayuan Technology [8] - Nord Shares has developed high-end standard copper foil, including RTF-3 (ultra-thin copper foil) and a new generation of HVLP copper foil, which have passed certification from some downstream clients for high-end applications [8]

Group 1 - The PET copper foil sector continues to rise, with Dongcai Technology hitting the daily limit increase [1] - Nord shares previously reached the daily limit increase, indicating strong market interest [1] - Other companies such as Ashi Chuang, Defu Technology, Zhongyi Technology, Shuangxing New Materials, and Sanfu New Science also experienced gains [1]

Market Overview - On February 25, A-shares saw all three major indices rise by over 1%, with the Sci-Tech Innovation Index increasing by nearly 0.7%, and nearly 4,000 stocks in the market experiencing gains [9][10] - The total trading volume reached 1.45 trillion yuan, with a significant increase of 102.9 billion yuan compared to the previous day [10] Sector Performance - The fertilizer and pesticide sector experienced a surge, with stocks like Chuanjinnuo hitting the daily limit, and other companies such as Chitianhua and Yuntianhua also seeing significant gains due to rising prices of urea, potassium sulfate compound fertilizer, and monoammonium phosphate [10][11] - Shipping stocks collectively strengthened, with China Merchants Energy achieving a historical high, and other companies like COSCO Shipping Energy and COSCO Shipping Development also rising, driven by a spike in oil tanker spot freight rates reaching a nearly six-year high [11][12] - Lithium battery concept stocks saw substantial increases, with Hanrui Cobalt rising over 11%, and other companies like Wenkang New Energy and Nord Shares also performing well, as lithium carbonate futures broke through the 170,000 yuan mark, marking a significant daily increase of over 10% [12] International Market Trends - The Nikkei 225 index in Japan rose by 1.4%, reaching a historical high, while the Korean Composite Stock Price Index expanded its gains to 2%, also hitting a historical high, with automotive stocks like Kia and Hyundai seeing significant increases [14] - International gold and silver prices surged, with spot silver rising over 3% and spot gold briefly surpassing 5,190 USD per ounce [14][15]

Group 1 - PCB concept stocks experienced a significant rally on February 25, with companies such as Hongchang Electronics, Jiangnan New Materials, and Tongguan Copper Foil reaching new highs during trading [1] - Nord Shares hit the daily limit up, while other companies like Defu Technology, Zhongyi Technology, Shandong Fiberglass, Shenghong Technology, and Guanghua Technology also saw increases [1]

Core Viewpoint - The PCB concept stocks have surged again, with several companies reaching new highs and notable increases in stock prices [1] Group 1: Company Performance - Hongchang Electronics, Jiangnan New Materials, and Tongguan Copper Foil have all reached new highs during trading [1] - Nord Shares hit the daily limit up, indicating strong investor interest [1] - Other companies such as Defu Technology, Zhongyi Technology, Shandong Glass Fiber, Shenghong Technology, and Guanghua Technology also experienced price increases [1]