Group 1 - The company will hold a half-year performance briefing on September 23, 2025, from 14:30 to 15:30 [1][3] - The briefing will take place on the Tonghuashun Roadshow platform, allowing for interactive communication with investors [2][3] - Investors can submit questions from September 16 to September 23, 2025, through the platform or via email [1][4] Group 2 - The briefing aims to provide insights into the company's operating results and financial status for the first half of 2025 [2] - Key personnel, including the chairman, independent directors, and financial officers, will participate in the briefing [3] - After the briefing, investors can access the session's details and main content on the Tonghuashun Roadshow platform [5]

Core Viewpoint - The company has demonstrated robust revenue growth and significant improvement in profitability in the first half of 2025, indicating a positive outlook for its financial performance [2]. Financial Performance - In H1 2025, the company achieved operating revenue of 728 million yuan, a year-on-year increase of 13.88% - The net profit attributable to shareholders reached 58 million yuan, up 25.54% year-on-year - The net profit excluding non-recurring items was 52 million yuan, reflecting a year-on-year growth of 22.51% - The gross margin stood at 26.16%, an increase of 1.63 percentage points year-on-year [2]. Quarterly Performance - In Q2 2025, the company reported operating revenue of 363 million yuan, a year-on-year increase of 11.17% - The net profit attributable to shareholders was 31 million yuan, marking a year-on-year increase of 39.60% and a quarter-on-quarter increase of 14.82% - The net profit excluding non-recurring items was 28 million yuan, up 47.09% year-on-year and 14.74% quarter-on-quarter - The gross margin for Q2 was 29.10%, an increase of 3.34 percentage points year-on-year [2]. Product Performance - In H1 2025, revenue from electronic-grade film materials was 294 million yuan, a year-on-year increase of 15.47%, with a gross margin of 30.17%, up 2.15 percentage points - Capacitors generated revenue of 348 million yuan, reflecting a year-on-year increase of 12.56%, with a gross margin of 23.14%, up 0.16 percentage points - Connectors achieved revenue of 30 million yuan, a year-on-year increase of 9.09%, with a gross margin of 38.08%, up 13.88 percentage points [3]. Industry Position - The company is a well-established manufacturer of film capacitors and materials, possessing integrated supply chain advantages - It has a unique position in the industry with capabilities in both film and capacitor products, covering a wide range of applications including home appliances, communications, power grids, rail transportation, industrial control, and renewable energy [4]. Market Outlook - The market for ultra-thin film materials in the renewable energy sector is expected to grow, driven by technological advancements and national policies - The demand for film capacitors, as a core component, is anticipated to boost the film market's continuous growth - The industry is likely to see new market increments with the maturation of composite current collector application technologies [5].

Market Overview - The current bull market is primarily driven by liquidity, with TMT (Technology, Media, and Telecommunications) expected to be the main focus in the mid-term [2] - If the market transitions to a fundamental-driven phase, advanced manufacturing will be a key area to watch, followed by real estate in the later stages [2] Industry Research Electronics - In Q2 2025, the electronics industry saw a total net profit of 136.82 billion yuan, a year-on-year increase of 35% and a quarter-on-quarter increase of 34% [3] - The top three sub-industries in terms of net profit growth were AI supply chain (174.7 billion yuan, +87%), PCB (70.0 billion yuan, +68%), and NVIDIA supply chain (128.6 billion yuan, +67%) [3] Semiconductor Materials - The rapid growth in AI demand is driving the semiconductor materials market, with significant growth in sectors like photoresists and wet electronic chemicals [4] - In H1 2025, listed companies in this sector reported revenue and profit growth, indicating a positive outlook for the semiconductor materials industry [4] Company Research China National Materials Technology - In H1 2025, the company experienced rapid growth across its three main businesses: wind turbine blades, fiberglass, and lithium membranes, benefiting from high demand in the wind power sector [5] - The company is well-positioned in the specialty fabric market, with significant sales contributions expected from new projects [5] Antong Oilfield Services - In H1 2025, the company reported revenue of 2.63 billion yuan, a year-on-year increase of 20.9%, and a net profit of 170 million yuan, up 55.9% [7] - The oil service market is recovering, and the company's new business model is anticipated to create additional growth opportunities [7] XCMG Machinery - In H1 2025, the company achieved an 8.0% year-on-year revenue growth and a 16.6% increase in net profit [8] - Despite challenges in the mining machinery sector, the company’s profitability is improving, and there is significant growth potential in overseas markets [8] Zoomlion Heavy Industry - In H1 2025, the company reported revenue of 24.85 billion yuan, a 1.3% year-on-year increase, and a net profit of 2.76 billion yuan, up 20.8% [9] - The company has substantial potential in emerging businesses and overseas exports, maintaining a positive growth outlook [9] Copper Peak Electronics - In H1 2025, the company achieved a net profit of 31 million yuan, reflecting a year-on-year increase of 39.6% [10] - The company is a leading producer of film capacitors and polypropylene film materials, with strong growth prospects driven by demand in the renewable energy sector [10] Apple Inc. - Following the recent product launch, the market sentiment around Apple has improved, with a focus on new product shipments and AI strategy as key growth drivers [11] - The projected net profits for Apple from FY2025 to FY2027 are 110.5 billion, 115.5 billion, and 119.4 billion USD respectively [11]

Group 1 - The company achieved a revenue of 728 million yuan in 25H1, representing a year-on-year increase of 13.88% [1] - The net profit attributable to shareholders reached 58 million yuan, up 25.54% year-on-year, while the net profit excluding non-recurring items was 52 million yuan, reflecting a 22.51% increase [1] - The gross profit margin improved to 26.16%, an increase of 1.63 percentage points year-on-year [1] Group 2 - The company is a well-established manufacturer of film capacitors, with advantages in integrated supply chain, technology, and brand [2] - The product range includes polypropylene films, polyester films, metallized films, and capacitors, catering to diverse customer needs [2] - The market for ultra-thin film materials in the renewable energy sector is expected to grow, driven by technological advancements and national policies [2] Group 3 - The forecast for net profit attributable to shareholders for 2025-2026 has been revised down to 121 million yuan and 146 million yuan, reflecting adjustments of -14% and -18% respectively [3] - The company is positioned as a leading producer of film capacitors and polypropylene film materials, with continuous growth expected in the renewable energy sector [3] - The company maintains an "overweight" rating due to the anticipated growth in materials and capacitor business driven by increasing demand [3]

Investment Rating - The report maintains an "Accumulate" rating for the company [6] Core Views - The company has shown steady revenue growth and significant improvement in profitability in the first half of 2025, with a revenue of 728 million yuan, up 13.88% year-on-year, and a net profit attributable to shareholders of 58 million yuan, up 25.54% year-on-year [2] - The company benefits from an integrated industrial chain advantage, being one of the few companies that produce both film and capacitor products, which allows it to meet diverse customer needs [3] - The market for ultra-thin film materials in the renewable energy sector is expected to grow, driven by technological advancements and national policies, which will also boost the demand for capacitor films [3] Summary by Sections Financial Performance - In 25H1, the company achieved a revenue of 728 million yuan, with a gross margin of 26.16%, an increase of 1.63 percentage points year-on-year [2] - In 25Q2, the revenue was 363 million yuan, with a net profit of 31 million yuan, reflecting a year-on-year increase of 39.60% [2] - The electronic-grade film materials segment generated 294 million yuan in revenue, up 15.47% year-on-year, with a gross margin of 30.17% [2] Market Outlook - The demand for film capacitors is expected to grow, which will drive the continuous growth of the capacitor film market [3] - The report highlights the potential for new market increments in the capacitor film industry due to the maturation of composite current collector application technologies [3] Profit Forecast and Valuation - The report adjusts the net profit forecasts for 2025 and 2026 to 121 million yuan and 146 million yuan, respectively, with a new forecast for 2027 at 169 million yuan [4] - The company is positioned as a leading domestic manufacturer of film capacitors and polypropylene film materials, with a sustained growth outlook in the renewable energy sector [4]

Meeting Overview - The first extraordinary general meeting of shareholders was held on September 9, 2025, at the company's office in Tongling City, Anhui Province [2] - The meeting was convened by the board of directors and was presided over by Chairman Huang Mingqiang, utilizing a combination of on-site and online voting methods [2][3] Attendance - Out of 7 current directors, 4 attended the meeting, while 3 supervisors attended out of 3 [3] - The company secretary and several senior management members were also present [3] Resolutions Passed - The following resolutions were approved: 1. Cancellation of the supervisory board and amendment of the Articles of Association [4] 2. Revision of the Rules of Procedure for Shareholders' Meetings [5] 3. Revision of the Rules of Procedure for Board Meetings [5] 4. Revision of the Fund Management System [5] 5. Legal surplus reserve to cover losses [5] - The first resolution required a special resolution, which was passed with over two-thirds of the voting rights held by attending shareholders [5] Legal Verification - The meeting was witnessed by lawyers from Anhui Antaida Law Firm, who confirmed that the meeting's procedures and resolutions complied with relevant laws and regulations [6] Board Changes - Following the meeting, the company announced the resignation of Director Bao Junhua, which will not affect the board's operation as it remains above the legal minimum number of directors [8][9] - Bao Junhua was subsequently elected as an employee director during a representative meeting, ensuring that employee representation on the board does not exceed half of the total number of directors [9]

Group 1 - The core point of the article is that Baohua Bao, a director of Tongfeng Electronics, will leave his position early due to work adjustments, but will continue to serve as the company's general manager [2] - Baohua Bao's original term was set to end on December 27, 2026, but he will now leave on September 8, 2025 [2] - On September 9, 2025, the company elected Baohua Bao as the employee director of the 10th board of directors, with a term lasting until the end of the 10th board's term [2]

本制度所称超募资金是指实际募集资金净额超过计划募集资金金额的部分。 第三条 公司的控股股东、实际控制人及其他关联人不得占用公司募集资金， 不得利用公司募集资金投资项目获取不正当利益。 公司发现控股股东、实际控制人及其他关联人占用募集资金的，应当及时要 求归还，并披露占用发生的原因、对公司的影响、清偿整改方案及整改进展情况。 第四条 公司董事会应当持续关注募集资金存放、管理和使用情况，有效防 范投资风险，提高募集资金使用效益。 公司的董事、高级管理人员应当勤勉尽责，督促公司规范使用募集资金，自 觉维护公司募集资金安全，不得参与、协助或纵容公司擅自或变相改变募集资金 用途。 安徽铜峰电子股份有限公司募集资金管理制度 第一章 总 则 第一条 为了规范安徽铜峰电子股份有限公司（下称"公司"）募集资金的 管理，提高募集资金使用效率，保护投资者的合法权益，依据我国《公司法》《证 券法》《上市公司募集资金监管规则》《上海证券交易所上市公司自律监管指引 第 1 号——规范运作》等有关法律、法规、规范性文件及《安徽铜峰电子股份有 限公司章程》（以下简称"《公司章程》"）的规定，结合公司实际情况，特制 定本制度。 第二条 本制度 ...

安徽铜峰电子股份有限公司董事会议事规则 第一章 总则 第一条 为规范安徽铜峰电子股份有限公司（以下简称"公司"）董事会的 议事方法和程序，保证董事会工作效率，提高董事会决策的科学性和正确性，根 据《中华人民共和国公司法》（以下简称"《公司法》"）《中华人民共和国证券法》 《上海证券交易所股票上市规则》《上市公司章程指引》《上市公司治理准则》等 法律、法规及规范性文件的规定和《安徽铜峰电子股份有限公司章程》（以下简 称"《公司章程》"），结合公司实际，制定本规则。 第二条 董事会应当遵照有关法律法规和《公司章程》的规定及股东会的决 议，履行职责。 第二章 董事会的组成和职权 第三条 董事会是股东会的常设机构，董事会对股东会负责。 董事会下设证券投资部，处理董事会日常事务。证券投资部受董事会秘书领 导，保管董事会印章。 （五）制订公司增加或者减少注册资本、发行债券或者其他证券及上市方案； （六）拟订公司重大收购、收购本公司股票或者合并、分立、解散及变更公 司形式的方案； （七）在股东会授权范围内，决定公司对外投资、收购出售资产、资产抵押、 对外担保事项、委托理财、关联交易、对外捐赠等事项； （八）决定公司内部管理 ...

安徽铜峰电子股份有限公司 章程 安徽铜峰电子股份有限公司 ANHUI TONGFENG ELECTRONICS CO., LTD. 第一章 总则 章 程 二〇二五年九月 1 安徽铜峰电子股份有限公司 章程 目 录 2 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第四章 股东和股东会 第一节 股东的一般规定 第二节 控股股东和实际控制人 第三节 股东会的一般规定 第四节 股东会的召集 第五节 股东会的提案与通知 第六节 股东会的召开 第七节 股东会的表决和决议 第五章 公司党组织 第六章 董事和董事会 第一节 董事的一般规定 第二节 董事会 第三节 独立董事 第四节 董事会专门委员会 第七章 总经理及其他高级管理人员 第八章 财务会计制度、利润分配和审计 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 第九章 通知和公告 第一节 通知 第二节 公告 第十章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十一章 修改章程 第十二章 附则 安徽铜峰电子股份有限公司 章程 第一条 为维护 ...