| 证券代码：600577 | 证券简称：精达股份 | 公告编号：2024-080 | | --- | --- | --- | | 债券代码：110074 | 债券简称：精达转债 | | 铜陵精达特种电磁线股份有限公司 关于持股 5%以上股东部分股份质押的公告 本公司董事会及全体董事保证本公司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。 铜陵精达特种电磁线股份有限公司（以下简称"公司"）持股 5%以上股东乔晓辉女士持 有公司 170,000,000 股，占公司总股本的 7.91%。本次质押 114,000,000 股，为首次质 押股份，占其所持公司股份总数的 67.06%，占公司总股本的 5.31%。 公司于近日获悉持股 5%以上股东乔晓辉女士所持的公司部分股份被质押，具体 情况如下： 一、本次股份质押基本情况 单位：股 | 股东 | 是否为 | 本次质 | 是否 | 是否 | | | | 占其所 | 占公司 | 质押融 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | -- ...

Investment Rating - The report maintains a "Buy" rating for the company [25][26]. Core Views - The company is positioned to benefit from the growing demand for AI copper connection materials, with expected revenue growth from 21.003 billion yuan in 2024 to 25.842 billion yuan in 2026 [25][26]. - The subsidiary Hengfeng Special Wire is a leading player in the silver-plated copper market, which is expected to see increased demand due to the rise of ASIC technology and partnerships with major clients [19][25]. - The report highlights the advantages of AEC technology over traditional DAC solutions, emphasizing its ability to provide longer transmission distances and lower power consumption, which enhances the company's market position [24][25]. Financial Summary - Revenue for 2022 was 17.542 billion yuan, with a projected increase to 21.003 billion yuan in 2024 and 25.842 billion yuan in 2026, reflecting a year-on-year growth rate of 17.3% in 2024 [20][25]. - The net profit attributable to the parent company is expected to rise from 426 million yuan in 2023 to 965 million yuan in 2026, with a significant growth rate of 43.9% in 2025 [20][25]. - The report provides a detailed financial outlook, including EPS projections of 0.26 yuan in 2024 and 0.46 yuan in 2026, alongside a decreasing P/E ratio from 30.2 in 2024 to 17.3 in 2026, indicating improving valuation [20][25].

表 1 截至本公告出具日公司委托联合资信进行信用评级的存续期内公开发行债券情况 联合〔2024〕11291 号 联合资信评估股份有限公司 关于铜陵精达特种电磁线股份有限公司股东协议转让公司部分 股份过户完成暨股东股份质押情况的关注公告 受铜陵精达特种电磁线股份有限公司（以下简称"公司"）委托，联合资信评估股份有限公司 （以下简称"联合资信"）对公司及其发行的相关债项进行了信用评级。除评级委托关系外，联合 资信、评级人员与公司不存在任何影响评级行为独立、客观、公正的关联关系。 根据联合资信于 2024 年 4 月 12 日出具的跟踪评级报告，公司个体信用等级为 aa；公司主体长 期信用等级为 AA，评级展望为稳定；公司委托联合资信评级的相关债项评级结果详见下表，评级有 效期为相关债项存续期。 联合资信评估股份有限公司 二〇二四年十二月九日 | 债券代码 | 债券简称 | 上次主体评级结果上次债项评级结果 上次评级时间 | | | 债券余额 | 兑付日 | | --- | --- | --- | --- | --- | --- | --- | | 110074.SH | 精达转债 | AA/稳定 | AA/稳定 ...

Investment Rating - The investment rating for the company is "Buy" [5][8] Core Views - The company, Jingda Co., Ltd. (精达股份), is actively involved in the high-temperature superconducting materials sector through its subsidiary Shanghai Superconductor, which has applied for listing guidance [2] - Shanghai Superconductor is recognized as a global leader in the superconducting field, with its products widely used in cutting-edge technologies such as controlled nuclear fusion and superconducting electricity [3] - The company has participated in several "world-first" projects and is expanding its production capacity to meet growing demand in both domestic and international markets [4] Financial Summary - Projected revenues for 2024, 2025, and 2026 are estimated at 21.038 billion, 23.590 billion, and 26.123 billion respectively, with year-over-year growth rates of 17.5%, 12.1%, and 10.7% [5] - Expected net profits for the same years are 558 million, 668 million, and 774 million, reflecting year-over-year growth of 30.8%, 19.7%, and 16.0% [5] - Earnings per share (EPS) are forecasted to be 0.26, 0.32, and 0.37 yuan, with corresponding price-to-earnings (P/E) ratios of 24.27, 20.28, and 17.48 [5] Company Overview - Jingda Co., Ltd. holds an 18.29% stake in Shanghai Superconductor, which is a key player in the high-temperature superconducting materials market [2] - The company has established strong partnerships with various domestic and international organizations, enhancing its market presence and technological capabilities [4]

证券代码：600577 证券简称：精达股份 公告编号：2024-079 债券代码：110074 债券简称：精达转债 铜陵精达特种电磁线股份有限公司（以下简称"公司"）于 2024 年 12 月 3 日收到 公司股东特华投资控股有限公司（以下简称"特华投资"）的通知，特华投资将其持有 的部分公司股份转让给乔晓辉的过户登记手续已办理完毕，并取得了中国证券登记结 算有限责任公司出具的《过户登记确认书》。 一、股份协议转让基本情况 1、2024 年 12 月 2 日，特华投资与乔晓辉完成了标的股份的过户手续，并于 2024 年 12 月 3 日取得了中国证券登记结算有限责任公司出具的《过户登记确认书》。 特华投资于 2024 年 10 月 8 日与乔晓辉签署了《关于铜陵精达特种电磁线股份有 限公司之股份转让协议》，特华投资拟将所持有的本公司股份 17,000 万股以协议转让 的方式转让给乔晓辉，具体内容详见公司于 2024 年 10 月 10 日在上海证券交易所网站 （www.sse.com.cn）披露的有关公告。 2、本次股份协议转让过户前后，特华投资及其一致行动人和乔晓辉持有公司股份 情况如下： | 股东名称/姓 ...

Summary of Conference Call Company and Industry Overview - The conference call primarily discusses the performance and outlook of the company, JinDa, within its industry, focusing on operational metrics and market trends [1][2]. Key Points and Arguments - **Operational Performance**: JinDa reported a strong operational performance in Q4, with November shipment volumes exceeding 10,000 tons for its main product line, indicating a robust demand similar to Q2 levels [1]. - **Market Trends**: The company anticipates a significant increase in shipments in Q1, particularly in the mid-range market segment, following a slowdown in shipment progress observed in previous months [2]. - **Quarterly Shipment Data**: In Q3, the company shipped 500 tons, with November showing a substantial month-on-month increase, projecting total annual shipments between 1,700 to 1,800 tons [3]. - **Customer Demand**: Major clients, such as Amphenol, are expected to have a monthly demand exceeding 100 tons, with other clients like Volvo also indicating stable demand around 50 tons per month [4][5]. - **Pricing Strategy**: The company is focusing on maintaining stable pricing for long-term contracts, especially with new or smaller clients, while also noting that higher-end products are becoming more prevalent in their offerings [6][8]. - **Military Sector Performance**: The military sector has been underperforming, with expectations for a more stable procurement process moving forward, although recovery is slower than anticipated [7]. - **Future Outlook**: The company is optimistic about future growth, with projections indicating a positive trend in demand and profitability for the upcoming year, supported by strategic partnerships and customer orders [14]. Additional Important Information - **Stock Market Update**: The company is preparing for a public listing on the Shanghai Star Market, with guidance materials submitted to regulatory authorities, expected to be finalized next year [9]. - **Production Capacity**: The company is positioned to become a global leader in its production capacity, with significant demand driven by advancements in nuclear fusion technology [10][11]. - **Client Base**: The company has a diverse client base, including major players in the technology and research sectors, which supports its market position [12]. - **Future Projects**: There are ongoing projects and collaborations in the pipeline, particularly in the superconducting industry, which are expected to yield substantial growth in the coming years [13]. This summary encapsulates the key insights from the conference call, highlighting the company's operational performance, market trends, and future outlook while also addressing potential risks and opportunities within the industry.

Investment Rating - The report initiates coverage on Jingda Co Ltd (600577 SH) with a "Buy" rating [4] Core Views - Jingda Co Ltd is a leading player in the electromagnetic wire industry with a 12% market share in 2022 and a production capacity of over 300 000 tons [2] - The company is well-positioned to benefit from the AI-driven copper connection market particularly through its subsidiary Hengfeng Special Conductor which specializes in silver-plated copper [4] - The AI server market is expected to see significant growth with copper connections becoming a key trend due to their cost and energy efficiency advantages [3] Company Overview - Jingda Co Ltd founded in 1990 has over 30 years of experience in the electromagnetic wire industry and has participated in drafting industry standards [2] - The company's main business is enameled wire which accounted for 71% of its revenue in 2023 [2] - Jingda has two key subsidiaries Hengfeng Special Conductor and Shanghai Superconductor which focus on special conductors and high-temperature superconductors respectively [21] AI Server and Copper Connection Market - NVIDIA's GB200 AI chip and NVL72/NVL36 cabinets introduced in March 2024 have redefined internal cabinet connections using copper cables which are cost-effective and energy-efficient [3] - The copper connection market is expected to accelerate in 2025 with major players like Google Amazon and Huawei rapidly deploying AI servers [3] - Silver-plated copper is a critical component in the AI copper connection supply chain with high technical and certification barriers [4] Financial Performance - In the first three quarters of 2024 Jingda reported revenue of 16 09 billion yuan and net profit of 420 million yuan representing year-on-year growth of 22 4% and 33 8% respectively [2] - The company's revenue is expected to grow from 21 003 billion yuan in 2024 to 25 842 billion yuan in 2026 with net profit projected to increase from 551 million yuan to 965 million yuan over the same period [4] Industry Trends - The global AI server market is projected to grow from 31 billion USD in 2023 to 430 billion USD by 2033 with a CAGR of 30 3% [39] - Copper connections are becoming increasingly important in AI servers due to their low cost low power consumption and low latency advantages [3] - The demand for high-speed data transmission is driving the adoption of 800G and 1 6T solutions in AI servers [39] Competitive Advantage - Hengfeng Special Conductor a subsidiary of Jingda is a leader in the silver-plated copper market with a strong customer base including major players like Amphenol Tyco Electronics and Luxshare Precision [4] - The company has broken through the bottleneck of ultra-fine high-speed transmission copper wire and has received the National Science and Technology Progress Award [116] Future Outlook - Jingda is expected to benefit from the growth in the AI server market particularly through its silver-plated copper products which are essential for high-speed data transmission [4] - The company's traditional enameled wire business is also expected to grow driven by the increasing demand for new energy vehicles [117]

重要提示： | 证券代码：600577 | 证券简称：精达股份 | 公告编号：2024-077 | | --- | --- | --- | | 债券代码：110074 | 债券简称：精达转债 | | 铜陵精达特种电磁线股份有限公司 关于不提前赎回"精达转债"的提示性公告 本公司董事会及全体董事保证本公司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。 ●公司股票自 2024 年 11 月 7 日至 2024 年 11 月 27 日已触发"精达转债" 的赎回条款。公司董事会决定本次不行使"精达转债"的提前赎回权利，不提前 赎回"精达转债"，且在未来六个月内（即 2024 年 11 月 28 日至 2025 年 5 月 27 日），若"精达转债"触发赎回条款，公司均不行使提前赎回权利。 以 2025 年 5 月 28 日为首个交易日重新计算，若"精达转债"再次触发赎回 条款，董事会将再次召开会议决定是否行使"精达转债"的提前赎回权利。 一、"精达转债"发行上市概况 经中国证券监督管理委员会出具证监许可[2020]1397 号《关于核准铜陵精 达特种电磁线股份有 ...

铜陵精达特种电磁线股份有限公司 舆情管理制度 第一章 总则 第一条 为提高铜陵精达特种电磁线股份有限公司（以下简称"公司"）应对各类 舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情对公司股价、公 司商业信誉及正常生产经营活动造成的影响，切实保护投资者合法权益，根据《上海证 券交易所股票上市规则》等法律、法规、规范性文件和《公司章程》的相关规定，结合 公司实际情况，制订本制度。 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的负面报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； （三）协调和组织各类舆情处理过程中对外宣传报道工作； （四）负责做好向安徽省证监局的信息上报工作及向上海证券交易所的信息沟通工 作； （五）各类舆情处理过程中的其他事项。 （三）可能或者已经影响社会公众投资者投资取向，造成股价异常波动的信息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品交易价格产生较大影响 的事件信息。 第二章 舆情管理的组织体系及其工作职责 第三条 公司应对各类舆情实行统一领导、统一组织、快速反应、协同应对。 第四条 公司成立舆情处理工作领导小组（以下简 ...

债券代码：110074 债券简称：精达转债 证券代码：600577 证券简称：精达股份 公告编号：2024-078 铜陵精达特种电磁线股份有限公司 关于为全资子公司提供担保的进展公告 本公司董事会及全体董事保证本公司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： ●被担保人名称：铜陵精达漆包线有限公司(以下简称"铜陵精达")、 广东 精达漆包线有限公司（以下简称"广东精达"）、铜陵精迅特种漆包线有限责任公 司（以下简称"铜陵精迅"）、天津精达漆包线有限公司（以下简称"天津精达"）、 广东精迅特种线材有限公司（以下简称"广东精迅"）、铜陵顶科线材有限公司（以 下简称"铜陵顶科"）。 ●担保金额：截至 2024年 11 月 26 日，公司累计对外担保额度为人民币 353,675 万元，占公司最近一期净资产（经审计）538,369 万元的 65.69%，公司没有逾期的 对外担保。 ●本次担保是否有反担保：无 ●无逾期对外担保情况 一、担保情况概述 为满足业务发展及日常经营资金实际需求，有效提高融资效率，优化担保手续 办理流程，在经公司第八届董事 ...