证券代码：600973 证券简称：宝胜股份 公告编号：2025-032 宝胜科技创新股份有限公司 关于重大诉讼的进展公告 2023 年 9 月 5 日，宝胜科技创新股份有限公司（以下简称"宝胜股份"或 "公司"）披露了《宝胜科技创新股份有限公司关于重大诉讼的进展公告》（公 告编号：2023-035），其中案件三为深圳中院（2021）粤 01 民初 1468 号，公司 依法要求恒大及其关联企业偿付 188,882,848.65 元货款及其利息，一审法院支 持了公司的合理诉求。近日，公司收到广东省高级人民法院（以下简称"广东高 院"）作出的《民事判决书》（2023）粤民终 4680 号，系对深圳中院（2021） 粤 01 民初 1468 号的二审终审判决，现将有关情况公告如下。 一、诉讼的基本情况 上诉人：广州恒乾材料设备有限公司（一审被告） 案件所处的诉讼阶段：二审终审判决 上市公司所处的当事人地位：被上诉人（一审原告） 涉案的金额：人民币 188,882,848.65 元及其资金占用利息、诉讼费等 审理法院：广东高院 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 ...

证券代码：600973 证券简称：宝胜股份 公告编号：2025-031 宝胜科技创新股份有限公司 关于 2025 年半年度募集资金存放与实际使用情况的 专项报告 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。 一、2020 年募集资金基本情况 （一）实际募集资金金额、资金到账时间 经中国证券监督管理委员会《关于核准宝胜科技创新股份有限公司非公开发 行股票的批复》（证监许可[2019]1494 号）文核准，公司向 3 名特定投资者非 公开发行 149,253,731 股人民币普通股（A 股）股票，募集资金总额为人民币 499,999,998.85 元 ， 扣 除 相 关 发 行 费 用 后 ， 募 集 资 金 净 额 为 人 民 币 489,160,745.14 元。中审众环会计师事务所（特殊普通合伙）已于 2020 年 1 月 21 日出具众环验字（2020）020002 号《验资报告》，对公司非公开发行股票的 募集资金到位情况予以审验。 | | | | 时间 | 金额（元） | | --- | --- | --- | ...

金融界消息 截至2025年8月25日收盘，宝胜股份（600973）报收于5.71元，下跌0.17%，换手率2.5%， 成交量34.22万手，成交金额1.95亿元。 资金流向方面，今日主力资金净流出2248.33万元，占比成交额11.52%。其中，超大单净流出3203.27万 元、占成交额16.41%，大单净流入954.95万元、占成交额4.89%，中单净流出流入876.99万元、占成交 额4.49%，小单净流入1371.34万元、占成交额7.02%。 天眼查商业履历信息显示，宝胜科技创新股份有限公司，成立于2000年，位于扬州市，是一家以从事专 用设备制造业为主的企业。企业注册资本137136.6248万人民币，实缴资本43740.6433万人民币。公司法 定代表人为生长山。 通过天眼查大数据分析，宝胜科技创新股份有限公司共对外投资了24家企业，参与招投标项目5000次， 知识产权方面有商标信息11条，专利信息431条，此外企业还拥有行政许可124个。 来源：金融界 宝胜股份最新一期业绩显示，截至2025一季报，公司营业总收入120.49亿元、同比增长19.98%，归属净 利润2264.76万元，同比增长10 ...

宝胜股份最新一期业绩显示，截至2025一季报，公司营业总收入120.49亿元、同比增长19.98%，归属净 利润2264.76万元，同比增长10.32%，扣非净利润1798.96万元，同比减少3.39%，流动比率1.080、速动 比率0.888、资产负债率81.48%。 金融界消息 截至2025年8月15日收盘，宝胜股份（600973）报收于5.65元，上涨2.73%，换手率2.4%， 成交量32.93万手，成交金额1.84亿元。 通过天眼查大数据分析，宝胜科技创新股份有限公司共对外投资了24家企业，参与招投标项目5000次， 知识产权方面有商标信息11条，专利信息431条，此外企业还拥有行政许可126个。 资金流向方面，今日主力资金净流入1423.37万元，占比成交额7.72%。其中，超大单净流入1187.64万 元、占成交额6.44%，大单净流入235.73万元、占成交额1.28%，中单净流出流出1499.86万元、占成交 额8.13%，小单净流入76.49万元、占成交额0.41%。 天眼查商业履历信息显示，宝胜科技创新股份有限公司，成立于2000年，位于扬州市，是一家以从事专 用设备制造业为主的企业。企 ...

金融界消息 截至2025年8月8日收盘，宝胜股份（600973）报收于5.48元，上涨0.92%，换手率2.13%， 成交量29.14万手，成交金额1.60亿元。 通过天眼查大数据分析，宝胜科技创新股份有限公司共对外投资了24家企业，参与招投标项目5000次， 知识产权方面有商标信息11条，专利信息431条，此外企业还拥有行政许可126个。 来源：金融界 天眼查商业履历信息显示，宝胜科技创新股份有限公司，成立于2000年，位于扬州市，是一家以从事专 用设备制造业为主的企业。企业注册资本137136.6248万人民币，实缴资本43740.6433万人民币。公司法 定代表人为生长山。 资金流向方面，今日主力资金净流出1317.65万元，占比成交额8.23%。其中，超大单净流出1390.12万 元、占成交额8.69%，大单净流入72.47万元、占成交额0.45%，中单净流出流出429.58万元、占成交额 2.68%，小单净流入1747.23万元、占成交额10.92%。 宝胜股份最新一期业绩显示，截至2025一季报，公司营业总收入120.49亿元、同比增长19.98%，归属净 利润2264.76万元，同比增长10.3 ...

Core Insights - The cable industry in China, valued at approximately 1.2 trillion yuan, faces challenges such as severe low-end competition and high-end product reliance on imports [1][2] - Over 10,000 cable companies contribute to a fragmented competitive landscape, leading to price wars and quality compromises [2][3] - The industry is experiencing a shift towards high-end products and quality service, with a focus on reducing price competition [6][7] Group 1: Industry Overview - The cable industry is crucial to the national economy, often referred to as its "blood vessels" and "nerves" [1] - China is the world's largest cable manufacturer and consumer, with a market size of around 1.2 trillion yuan [1] - The industry is characterized by a vast array of products, with nearly 2,000 varieties and over 150,000 specifications [2] Group 2: Competitive Landscape - The competition is fragmented, with the top ten companies holding only about 10% market share, indicating a chaotic market environment [3] - In contrast, mature markets like the US and Japan have much higher market concentration, with top companies holding 70% and 65% market shares respectively [3] - The average net profit growth rate for the top ten companies in the industry has not exceeded 0.05% over the past three years, highlighting the profitability challenges [2] Group 3: Market Trends - The industry is witnessing a trend of "one decrease and one increase," where the growth rate of the number of companies is declining while the number of exits is increasing, leading to a more concentrated market [4] - State Grid's reform in bidding processes is expected to favor larger companies, further consolidating the market [5] - Middle and small enterprises are encouraged to adopt specialized strategies to capture niche markets and enhance overall industry quality [7] Group 4: High-End Product Development - The high-end cable market in China is heavily reliant on imports, with over 80% of the market dominated by foreign companies [6] - Companies like Baoshen Co. are focusing on high-end and intelligent product transformations, achieving significant profit growth [6] - The shift towards high-end products is seen as essential for the industry's future, moving away from price competition to quality and service [6][8]

Core Viewpoint - The low-voltage cable industry in China is experiencing robust growth, driven by increasing demand for electricity due to urbanization and technological advancements, with market size projected to reach 223.21 billion yuan by 2025, growing at a compound annual growth rate (CAGR) of 9.18% from 2020 to 2024 [1][19][20]. Industry Overview - Low-voltage cables are essential for power transmission in various sectors, including residential, commercial, and industrial applications, characterized by their moderate voltage levels and high transmission efficiency [1][19]. - The market size of China's low-voltage cable industry grew from 146.75 billion yuan in 2020 to an estimated 208.56 billion yuan in 2024 [1][19]. Industry Development History - The low-voltage cable industry in China has evolved through four key stages: the embryonic stage before 1949, the foundational stage from 1949 to 1978, the transformation stage from 1978 to 2000, and the rapid growth stage from 2000 to the present [9]. Industry Chain - The upstream of the low-voltage cable industry includes raw materials such as copper, aluminum, rubber, and plastics, while the midstream involves the manufacturing of low-voltage cables, and the downstream encompasses applications in power, transportation, construction, and communication sectors [12]. Market Demand and Investment - Investment in power engineering in China is projected to grow from 270 billion yuan in 2017 to 608.3 billion yuan in 2024, with a CAGR of 12.3%, while investment in grid engineering is expected to rise from 531.5 billion yuan to 1,168.7 billion yuan in the same period [16]. - The demand for low-voltage cables is supported by the continuous expansion of power supply infrastructure and smart grid initiatives [16]. Competitive Landscape - The low-voltage cable industry in China is characterized by a large number of small-scale enterprises, with major players including Hengtong Optic-Electric, Baosheng Technology, and Zhongtian Technology, among others [22][24]. - The industry faces challenges such as product homogeneity and intense competition, but leading companies are achieving advanced technological capabilities and international competitiveness [22]. Future Trends - The low-voltage cable industry is moving towards smart technology integration, with the development of intelligent cables that can monitor operational data and predict failures [29]. - Environmental regulations are driving the industry towards greener practices, including the use of halogen-free and biodegradable materials [30]. - There is a focus on high-end special cables for demanding applications in aerospace and marine engineering, with advancements in materials enhancing performance [31].

Core Viewpoint - Baoshan Technology Innovation Co., Ltd. has shown positive financial performance with significant revenue growth and a stable market presence, indicating potential investment opportunities in the specialized equipment manufacturing sector [1][2]. Financial Performance - As of the first quarter of 2025, the company reported total operating revenue of 12.049 billion yuan, a year-on-year increase of 19.98% [1] - The net profit attributable to shareholders was 22.6476 million yuan, reflecting a year-on-year growth of 10.32% [1] - The company's non-recurring net profit was 17.9896 million yuan, which represents a year-on-year decrease of 3.39% [1] - The liquidity ratios are as follows: current ratio at 1.080 and quick ratio at 0.888, with a debt-to-asset ratio of 81.48% [1] Market Activity - As of August 1, 2025, Baoshan's stock closed at 5.18 yuan, with an increase of 0.39% [1] - The trading volume was 218,100 hands, with a total transaction amount of 113 million yuan [1] - The net inflow of main funds was 12.8543 million yuan, accounting for 11.42% of the transaction amount [1] - Large orders contributed to a net inflow of 7.4226 million yuan, representing 6.6% of the transaction amount [1] Company Background - Baoshan Technology Innovation Co., Ltd. was established in 2000 and is located in Yangzhou, primarily engaged in the specialized equipment manufacturing industry [2] - The company has a registered capital of 13.71366248 billion yuan and a paid-in capital of 4.37406433 billion yuan [2] - The company has made investments in 24 enterprises and participated in 5,000 bidding projects, showcasing its active role in the industry [2] - The company holds 11 trademark registrations and 431 patents, along with 126 administrative licenses [2]

Core Viewpoint - The construction of the first commercial controlled nuclear fusion power plant in the U.S. by Helion Energy marks a significant step towards the commercialization of fusion energy, with plans to supply power to Microsoft by 2028 [3][5]. Group 1: Company Developments - Helion Energy has initiated site construction for its controlled nuclear fusion power plant named "Orion" in Chelan County, Washington, which is a crucial milestone for integrating fusion power into the grid [3]. - The company has signed a power purchase agreement with Microsoft to supply 50 MW annually starting in 2028 [5]. - Helion's technology utilizes a magnetic inertial confinement approach, specifically the Field-Reversed Configuration (FRC) method, which is simpler and more cost-effective compared to the Tokamak technology, with construction costs estimated to be only 1/5 to 1/10 of Tokamak systems [5]. Group 2: Industry Context - Other companies in China, such as Hanhai Fusion and Xingneng Xuanguang, are also pursuing similar FRC technology, indicating a growing interest in fusion energy [6]. - A recent industry seminar in Shanghai attracted over 20 companies and nearly 30 financial institutions to discuss the future of controlled nuclear fusion, highlighting its status as a hot topic in the capital market [7]. - Nearly 50 controlled nuclear fusion concept stocks have been actively researched by investors this year, with significant interest in companies like Ice Wheel Environment and Antai Technology, which have received multiple investor inquiries [7]. Group 3: Financial Performance - Several controlled nuclear fusion concept stocks have reported significant earnings growth for the first half of 2025, with Yongding Co. expecting a net profit increase of 731% to 922% year-on-year, primarily due to increased investment income [8]. - Baosheng Co. anticipates a net profit increase of 167.98% to 301.98% for the same period, driven by the market recognition of high-value products [8].

Group 1: Overall Performance of Central Enterprises - 79 central enterprise-controlled listed companies reported positive performance forecasts for the first half of the year, with 32 companies showing year-on-year net profit growth, 22 companies turning losses into profits, and 25 companies reducing losses [1] - 19 central enterprise-controlled listed companies expect a net profit increase of over 100%, with several companies achieving significant turnaround from losses [1] Group 2: Power Sector Performance - Huayin Power, a subsidiary of China Datang Group, is expected to lead the growth with a projected net profit of 180 million to 220 million yuan, representing a year-on-year increase of up to 44 times due to increased power generation and reduced fuel costs [2] - Major investments in the power grid and ultra-high voltage construction by State Grid and Southern Power Grid are expected to drive growth in related companies, with Guodian Nanzi and Baobian Electric forecasting net profit increases of 171.89% to 225.66% and 229.15%, respectively [2] Group 3: Electric Equipment and Cable Industry - Baobian Electric's profit increase is attributed to enhanced market development and increased project orders, while Baoshan Co. anticipates a net profit growth of 167.98% to 301.98% due to optimized sales policies and improved internal management [3] - New Energy Taishan is expected to turn losses into profits in the first half of the year, reflecting a positive trend in the electric cable sector [3] Group 4: Shipbuilding and Rare Earth Industries - The shipbuilding sector is experiencing significant growth, with companies like China Shipbuilding, China Power, and China Heavy Industry expecting net profit increases exceeding 200% due to effective management and increased delivery of civilian ships [5] - The rare earth industry is also thriving, with companies like China Rare Earth and Guangsheng Nonferrous Metals expected to turn losses into profits, driven by rising prices of rare earth products [4] Group 5: Turnaround Companies - 22 central enterprise-controlled listed companies are expected to turn losses into profits, with quality improvement and efficiency enhancement being key factors for their performance recovery [6] - Companies like Zhongnan Co. and Taiji Co. have reported successful turnarounds due to strengthened management and cost control measures [6][7] Group 6: Management and Efficiency Improvements - Many companies achieving year-on-year growth or reduced losses attribute their success to ongoing quality improvement and efficiency enhancement initiatives [7] - Companies are focusing on optimizing resource allocation, controlling costs, and improving operational efficiency as critical drivers of performance growth [7]