证券代码：600973 证券简称：宝胜股份 公告编号：2025-043 关于召开 2025 年半年度暨第三季度业绩说明会 的公告 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个别及连带责任。 重要内容提示： 宝胜科技创新股份有限公司（以下简称"公司"）已于 2025 年 8 月 30 日发 布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年上 半年度经营成果、财务状况，公司计划于 2025 年 11 月 24 日 （星期一） 09:00-10:00 举行 2025 年半年度暨第三季度业绩说明会，就投资者关心的问题 进行交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年半年度的经营 成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范 会议召开时间：2025 年 11 月 24 日 （星期一） 09:00-10:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sse ...

Core Viewpoint - The China Securities 2000 ETF managed by Huaxia Fund has experienced a decline of 1.12% as of the midday close on November 12, with a trading volume of 11.11 million yuan [1] Group 1: ETF Performance - The China Securities 2000 ETF (562660) closed at 1.673 yuan, down 1.12% [1] - Since its inception on September 6, 2023, the fund has achieved a return of 68.85%, with a monthly return of 4.43% [1] Group 2: Major Holdings Performance - Major holdings in the ETF include Tian'ao Electronics, which fell by 1.23%, and Guoen Co., which dropped by 4.47% [1] - Other notable declines include Asia-Pacific Shares down 2.36%, Baosheng Shares down 3.07%, and Green Power down 0.13% [1] - The largest decline was seen in Jieput, which fell by 6.34%, while Daon Shares decreased by 2.51% [1]

Investment Rating - The report maintains an "Overweight" rating for the defense and military industry, indicating a positive outlook for the sector compared to the overall market performance [3][25]. Core Insights - The military industry is expected to enter an upward cycle as per the "14th Five-Year Plan" recommendations, with overall performance showing signs of recovery in Q4, leading to anticipated positive year-on-year growth [3][4]. - The report highlights that military trade is experiencing a significant demand surge due to increasing global geopolitical uncertainties, which is expected to create a new market landscape for international military trade [3][4]. - The report suggests increasing attention to the military sector, particularly focusing on next-generation equipment, unmanned/anti-unmanned weapons, and information/intelligent systems as key areas for investment [3][4]. Market Review - Last week, the Shenwan Defense and Military Index fell by 0.47%, while the overall market indices, including the Shanghai Composite Index, rose by 1.08% [4][11]. - The report notes that the defense and military sector's performance ranked 25th among 31 first-level industries, indicating underperformance relative to the broader market [4][11]. - The top five performing stocks in the defense sector last week included Aerospace Intelligent Equipment (up 25.45%), Triangle Defense (up 25.28%), and others, while the bottom five included Hangxin Technology (down 17.20%) and others [11][12]. Valuation Changes - The current PE-TTM for the Shenwan military sector is 78.66, placing it in the upper range historically, indicating a relatively high valuation compared to past performance [12][13]. - The report emphasizes that the aerospace and aviation equipment sectors are also experiencing elevated PE valuations, suggesting a strong market position [12][13]. Key Investment Targets - The report identifies key investment targets within the military sector, including high-end combat capabilities and new quality combat capabilities, with specific companies highlighted for their growth potential [3][4].

证券代码：600973 证券简称：宝胜股份 公告编号：2025-042 宝胜科技创新股份有限公司 2025年第二次临时股东大会决议公告 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： 本次会议是否有否决议案：无 1、 议案名称：关于取消监事会并修订《公司章程》及其附件的议案 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 11 月 10 日 (二)股东大会召开的地点：江苏省宝应县苏中路 1 号公司办公楼 1 号会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 285 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 539,180,067 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 39.3169 | (四)表决方式是否符合《公司法》及《公司章程》的规定，股东大会主持情况等。 本次股东大会采取现场投票和网络投票相结合的方式表决，会议由公 ...

江苏泰和律师事务所 关于宝胜科技创新股份有限公司 2025 年第二次临时股东大会的 法律意见书 致：宝胜科技创新股份有限公司 泰和律师事务所 宝胜股份 2025 年第二次临时股东大会法律意见书 泰和律师事务所 宝胜股份 2025 年第二次临时股东大会法律意见书 江苏泰和律师事务所 关于宝胜科技创新股份有限公司 2025 年第二次临时股东大 会的 法律意见书 经本所律师查验，公司董事会已于本次股东大会召开 15 日以前以公告方式 通知公司股东，公司董事会已在公告中列明了本次股东大会讨论事项，并按《公 司法》《股东会规则》和《公司章程》的有关规定对本次股东大会所有提案的内 容进行了充分披露；本次股东大会的召开时间、地点与股东大会通知的内容一致。 根据《中华人民共和国证券法》《中华人民共和国公司法》（以下简称"《公 司法》"）、中国证券监督管理委员会《上市公司股东会规则》（以下简称"《股 东会规则》"）等法律、法规、规范性文件和《宝胜科技创新股份有限公司章程》 （以下简称"《公司章程》"）的有关规定，江苏泰和律师事务所（以下简称"本 所"）接受宝胜科技创新股份有限公司（以下简称"公司"）的委托，指派颜爱中 律师和李 ...

宝胜科技创新股份有限公司 2025 年第二次临时股东大会会议材料 宝胜科技创新股份有限公司 2025 年第二次临时股东大会会议材料 二〇二五年十一月五日 1 | | 会议议程 3 | | --- | --- | | | 会议须知 5 | | 议案 | 1：关于取消监事会并修订<公司章程>及其附件的议案 7 | | 议案 | 2：关于修订《股东会议事规则》的议案 9 | | 议案 | 3：关于修订《董事会议事规则》的议案 10 | | 议案 | 4：关于修订《独立董事工作制度》的议案 11 | | 议案 | 5：关于修订《对外担保管理制度》的议案 12 | | 议案 | 6：关于修订《关联交易管理制度》的议案 13 | | 议案 | 7：关于修订《募集资金管理制度》的议案 14 | | 议案 | 8：关于调整 2025 年度日常关联交易预计额度的议案的议案 15 | | 议案 | 9：关于发行应收账款资产证券化产品的议案的议案 21 | 宝胜科技创新股份有限公司 2025 年第二次临时股东大会会议材料 会议议程 会议时间： 1、现场会议召开时间：2025 年 11 月 10 日（星期一）15：00 3 二、主持 ...

Core Viewpoint - Baoshen Co., Ltd. has demonstrated strong performance in the electric wire and cable industry, achieving steady growth in scale and profitability, while optimizing its structure amidst a challenging market environment [2][10]. Financial Performance - The company reported total revenue of 37.65 billion yuan for the first three quarters of 2025, marking a year-on-year increase of 6.22%, maintaining its leading position among 40 comparable companies in the industry [2][4]. - Net profit attributable to shareholders reached 59.49 million yuan, a significant increase of 138.08% year-on-year, while the net profit excluding non-recurring items surged by 312.28% to 46.72 million yuan [3][4]. - Key profitability indicators improved, with the weighted average return on equity (ROE) rising to 1.70%, up 1.04 percentage points year-on-year, and the return on invested capital (ROIC) increasing to 1.85%, up 1.02 percentage points [3][4]. Financial Structure - The balance sheet showed improvements, with inventory decreasing by 29.42% compared to the end of the previous year, and the proportion of inventory to total assets declining by 5.11 percentage points [4]. - The net cash flow from operating activities improved by 696 million yuan year-on-year, indicating enhanced cash flow management capabilities [4]. Technological Innovation - Baoshen Co., Ltd. holds over 560 patents and has achieved significant breakthroughs in specialized cable fields, establishing a competitive edge in high-tech applications [5][6]. - The company has adopted a closed-loop model of "R&D - Transformation - Revenue," with R&D investment reaching 748 million yuan in 2024, focusing on high-value sectors such as new energy and low-altitude economy [6]. Product Range and Market Position - The company produces over 1,000 varieties and more than 100,000 models of wire and cable products, covering all voltage levels and applications [7]. - Baoshen Co., Ltd. has secured major contracts in the power energy sector and is involved in high-speed rail and advanced transportation projects, reinforcing its position as a core supplier [7]. New Industry Layout - The company has strategically positioned itself in eight key sectors, including aerospace, new energy, and new infrastructure, with significant growth in the low-altitude economy and AI markets [9][10]. - Baoshen Co., Ltd. aims to capture 15% of the low-altitude economy market by 2030, with projected revenues from related sectors exceeding 1 billion yuan by 2025 [9][10].

Group 1 - An international research team has developed a germanium material with superconducting properties, enabling zero-resistance conductivity and lossless current flow, paving the way for scalable quantum devices based on existing semiconductor technologies [1] - The realization of superconductivity in semiconductors is expected to enhance the performance of computer chips and solar cells, driving advancements in quantum technology [1] - The application of this new material could lead to significant improvements in the operational speed of smart devices and more efficient zero-loss transmission in power grids and renewable energy systems, potentially triggering technological revolutions across various industries [1] Group 2 - High-temperature superconductors offer advantages over low-temperature superconductors, including higher critical temperatures, currents, and magnetic fields, expanding the application space for superconducting materials [2] - The A-share market has 27 stocks related to superconductors, with a total market capitalization of 619.1 billion yuan as of November 3, and these stocks have averaged a 57.75% increase this year, significantly outperforming the Shanghai Composite Index [2] - Notable stocks with substantial profit growth include Yongding Co., which reported a net profit of 329 million yuan for the first three quarters, a year-on-year increase of 474.3% [2] Group 3 - Ice Wheel Environment has been the most frequently researched stock by institutions this year, with 65 institutional surveys, highlighting its technological advantages in providing cooling equipment for data centers and liquid cooling systems [3]

Core Viewpoint - Baoshen Co., Ltd. (600973.SH) reported a revenue of 37.65 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 6.22% [1] - The net profit attributable to shareholders reached 59.49 million yuan, marking a significant year-on-year increase of 138.08% [1] - The basic earnings per share stood at 0.043 yuan [1] Financial Performance - Total operating revenue for the first three quarters: 37.65 billion yuan, up 6.22% year-on-year [1] - Net profit attributable to parent company shareholders: 59.49 million yuan, up 138.08% year-on-year [1] - Basic earnings per share: 0.043 yuan [1]

Core Insights - Baoshen Co., Ltd. is a leading enterprise in the domestic cable industry, established on June 30, 2000, and listed on the Shanghai Stock Exchange on August 2, 2004, with its headquarters in Jiangsu Province [1] Group 1: Business Performance - In Q3 2025, Baoshen's revenue reached 37.65 billion yuan, ranking first among 40 companies in the industry, significantly surpassing the second-ranked Far East Group's 20.21 billion yuan, with the industry average at 5.82 billion yuan and the median at 2.93 billion yuan [2] - The net profit for the same period was 83.75 million yuan, ranking 20th in the industry, while the top performer, Dongfang Cable, reported a net profit of 914 million yuan, and the second, Jinbei Electric, reported 536 million yuan, with the industry average at 131 million yuan and the median at 81.95 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Baoshen's debt-to-asset ratio was 80.14%, an increase from 79.34% year-on-year, and significantly higher than the industry average of 54.36% [3] - The gross profit margin for Q3 2025 was 4.54%, down from 4.72% year-on-year and below the industry average of 13.49% [3] Group 3: Executive Compensation - The salary of President Shao Wenlin for 2024 is set at 1 million yuan, a decrease of 342,000 yuan compared to 1.342 million yuan in 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 22.89% to 46,300, while the average number of circulating A-shares held per account increased by 29.68% to 29,600 [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third-largest with 55.05 million shares, an increase of 34.56 million shares from the previous period [5]