Group 1 - The A-share copper cable sector is experiencing active trading, with notable stocks such as Wolong Nuclear Materials hitting the daily limit up, while Changfei Optical Fiber and Shenyu Co. have increased by over 6% [1] - Other companies in the sector, including Baosheng Co., Xinke Materials, Dingtong Technology, Ruikeda, and Jingda Co., are also seeing upward movement in their stock prices [1]

Industry Overview - The domestic wire and cable industry chain is mature, with a wide range of downstream applications including engineering machinery, telecommunications, power, and construction [1] - The upstream materials for wire and cable production include copper, aluminum, and their alloys, as well as rubber and chemical industries for insulation materials [1][2] Key Companies - Major upstream suppliers include Tongling Nonferrous Metals Group, Chuanjiang New Materials, and Hailiang Co., Ltd. [2] - Key midstream manufacturers of power cables include TBEA and Qingdao Hancable, while major manufacturers of communication cables include Zhongtian Technology and Hengtong Group [2] Regional Distribution - The wire and cable companies are primarily located in economically developed eastern coastal regions, with Hebei, Guangdong, Zhejiang, and Shandong being the main provinces [5] - As of March 31, 2025, Hebei has 3,944 related wire and cable companies, while Guangdong and Zhejiang have 3,507 and 2,464 respectively [5] Market Dynamics - The industry has formed a coastal wire and cable equipment industrial circle, particularly in Jiangsu and Zhejiang, reflecting strong manufacturing capabilities and developed capital markets in these regions [8] - A total of 38 publicly listed companies in the wire and cable sector are distributed across 14 provinces, with Jiangsu having the highest number at 9 [7]

证券代码：600973 证券简称：宝胜股份 公告编号：2025-023 一、会议以 5 票同意、0 票反对、0 票弃权，审议并通过了《关于审议<公司 2025 年第一季度报告>的议案》。 公司监事会对董事会编制的公司 2025 年第一季度报告进行了认真审核，并 提出如下的审核意见： 1、公司 2025 年第一季度报告的编制和审议程序符合法律、法规和《公司章 程》以及公司内部管理制度的相关规定； 2、公司 2025 年第一季度报告的内容和格式符合中国证监会和上海证券交易 所的各项规定，所包含的信息能从各方面真实地反映出公司当年度的经营管理和 财务状况等事项； 3、监事会在提出本意见前，未发现参与 2025 年第一季度报告编制和审议的 人员有违反保密规定的行为。 宝胜科技创新股份有限公司 第八届监事会第十四次会议决议公告 本公司监事会及全体监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。 宝胜科技创新股份有限公司（以下简称"公司"）于 2025 年 4 月 18 日以传 真、电子邮件及专人送达等方式向公司全体监事发出了召开第八届监事会第十四 次 ...

证券代码：600973 证券简称：宝胜股份 公告编号：2025-022 宝胜科技创新股份有限公司 第八届董事会第十九次会议决议公告 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个别及连带责任。 宝胜科技创新股份有限公司（以下简称"公司"）于 2025 年 4 月 18 日以传 真、电子邮件及专人送达等方式向公司全体董事、监事及高级管理人员发出了召 开第八届董事会第十九次会议的通知。2025 年 4 月 29 日上午 9:00，第八届董事 会第十九次会议在宝胜会议中心 1 号接待室召开。会议应到董事 11 名，实到董 事 11 名，董事马永胜先生、张航先生、卢之翔先生，独立董事王跃堂先生、路 国平先生、王益民先生和裴力先生以通讯方式参加表决。公司监事及部分高级管 理人员列席了会议。会议由公司董事长生长山先生主持。会议的召集和召开符合 《公司法》等有关法律、法规和《公司章程》的规定。 会议就以下事项进行审议： 一、会议以 11 票同意，0 票反对、0 票弃权，审议通过了《关于审议<公司 2025 年第一季度报告>的议案》。 本议案已由董事 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 12,049,225,566.66, representing a 19.98% increase compared to CNY 10,043,079,939.25 in the same period last year[4] - Net profit attributable to shareholders was CNY 22,647,639.88, up 10.32% from CNY 20,528,226.26 year-on-year[4] - The basic earnings per share increased by 13.33% to CNY 0.017 from CNY 0.015 in the previous year[4] - Net profit for Q1 2025 was CNY 28,092,447.29, up 118% from CNY 12,909,456.73 in Q1 2024[19] - Operating profit for Q1 2025 was CNY 37,737,899.42, compared to CNY 20,370,202.96 in Q1 2024, reflecting an increase of 85%[19] - The company reported a decrease of 3.39% in net profit after deducting non-recurring gains and losses, amounting to CNY 17,989,599.27 compared to CNY 18,621,201.14 in the previous year[4] Assets and Liabilities - The total assets at the end of the reporting period were CNY 22,726,625,608.58, a 9.05% increase from CNY 20,841,283,738.05 at the end of the previous year[5] - As of March 31, 2025, the company's total assets reached CNY 22.73 billion, an increase from CNY 20.84 billion as of December 31, 2024, representing a growth of approximately 9.1%[14] - The company's current assets totaled CNY 16.74 billion, up from CNY 14.73 billion, indicating a growth of about 13.6%[14] - The company's total liabilities amounted to CNY 18.52 billion, up from CNY 16.72 billion, which is an increase of about 10.8%[16] - Short-term borrowings increased to CNY 9.53 billion from CNY 8.22 billion, representing a growth of approximately 16%[16] Cash Flow - The net cash flow from operating activities improved to -CNY 932,112,345.45, compared to -CNY 1,082,480,006.30 in the same period last year[4] - The company reported a net cash outflow from operating activities of CNY -932,112,345.45 in Q1 2025, an improvement from CNY -1,082,480,006.30 in Q1 2024[23] - Cash and cash equivalents increased significantly to CNY 4.01 billion from CNY 2.83 billion, marking a rise of approximately 41.9%[14] - Cash and cash equivalents at the end of Q1 2025 totaled CNY 2,842,611,996.44, up from CNY 1,460,302,720.33 at the end of Q1 2024[24] - Total cash inflow from financing activities in Q1 2025 was CNY 5,936,259,494.45, compared to CNY 4,627,440,000.00 in Q1 2024[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 78,793[9] - The largest shareholder, Baosheng Group Co., Ltd., holds 31.90% of the shares, totaling 437,406,433 shares[9] - The company's equity attributable to shareholders reached CNY 3.49 billion, compared to CNY 3.41 billion, indicating an increase of about 2.3%[16] Operational Costs and Expenses - The total operating costs for Q1 2025 were CNY 10,048,561,792.95, reflecting an increase from CNY 9,560,088,315.60 in Q1 2024[19] - The company incurred research and development expenses of CNY 174,132,104.30 in Q1 2025, up from CNY 159,286,799.77 in Q1 2024[19] Other Information - Non-recurring gains and losses totaled CNY 4,658,040.61 for the period[7] - The company reported a decrease in inventory from CNY 3.34 billion to CNY 2.98 billion, a decline of approximately 10.8%[14] - The company has not disclosed any new product developments or market expansion strategies during the reporting period[12] - There are no significant changes in the shareholding structure or related party transactions reported for the period[12] - The company experienced a significant increase in other comprehensive income, totaling CNY 52,585,095.00 in Q1 2025, compared to CNY 34,582,282.50 in Q1 2024[20] - The weighted average return on net assets rose to 0.66%, an increase of 0.14 percentage points compared to 0.54% last year[5]

Financial Performance - The company reported a basic earnings per share (EPS) of 0.0170 yuan for Q1 2025, representing a 13.33% increase compared to 0.0150 yuan in Q1 2024, but a decrease from 0.0280 yuan in Q1 2023 [1] - The total revenue for Q1 2025 was 120.49 billion yuan, showing a 19.97% increase from 100.43 billion yuan in Q1 2024 and an increase from 104 billion yuan in Q1 2023 [1] - The net profit for Q1 2025 was 0.23 billion yuan, a 9.52% increase from 0.21 billion yuan in Q1 2024, but a decrease from 0.39 billion yuan in Q1 2023 [1] - The return on equity (ROE) for Q1 2025 was 0.66%, up 22.22% from 0.54% in Q1 2024, but down from 1.04% in Q1 2023 [1] - The net asset per share decreased by 8.63% to 2.54 yuan in Q1 2025 from 2.78 yuan in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 66,655.07 million shares, accounting for 48.62% of the circulating shares, with a decrease of 500.35 million shares compared to the previous period [1] - The largest shareholder, Baosheng Group Co., Ltd., holds 43,740.64 million shares, representing 31.90% of the total share capital, with no change [2] - The second-largest shareholder, Anyi Junjing Shengda Equity Investment Partnership (Limited Partnership), holds 6,857.68 million shares, a decrease of 649.00 million shares [2] - New entrants among the top shareholders include Bi Sheng, Hong Xiaoping, and Lan Yun, each holding 339.02 million, 315.00 million, and 289.97 million shares respectively [2] Dividend Policy - The company has decided not to distribute dividends or transfer shares in this period [2]

证券代码：600973 证券简称：宝胜股份 公告编号：2025-021 宝胜科技创新股份有限公司 (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 | 776 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 532,502,459 | | 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（%） | 38.8300 | (四)表决方式是否符合《公司法》及《公司章程》的规定，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，会议由公司董事 闫修辉先生主持。会议的召集和召开程序、出席会议人员的资格、会议的表决方 2024年年度股东大会决议公告 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 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 04 月 25 ...

泰和律师事务所 宝胜股份 2024 年年度股东大会法律意见书 泰和律师事务所 宝胜股份 2024 年年度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 2024 年年度股东大会的 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 2024 年年度股东大会的 法律意见书 致：宝胜科技创新股份有限公司 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，指派李远 扬律师和颜爱中律师（以下称"本所律师"）出席公司 2024 年度股东大会（以 下简称"本次股东大会"、"会议"），并出具本法律意见书。 本所律师根据《股东会规则》第六条的要求，出席了本次股东大会并按照律 师行业公认的业务标准、道德规范和勤勉尽责精神，对与本次股东大会召开有关 的文件和事实进行了核查和验证。 本所律师现就本次股 ...

Core Insights - The overall R&D investment in the wire and cable industry has been increasing, with a focus on areas such as new energy and submarine cables [1][2] - The industry has seen a decline in patent application activity recently, with a concentration on conductive, insulating, or dielectric materials [4][6] - The application of new materials and clean energy demands is driving technological advancements in the wire and cable sector [10][11] R&D Investment Trends - R&D investments among major listed companies in the wire and cable industry have generally risen, with significant fluctuations observed in companies like Baoshan Co. and Jinbei Electric [1] - Key R&D directions include photovoltaic, electric vehicles, nuclear power plants, and submarine cables, indicating these areas are becoming increasingly important [2] Patent Application Activity - The number of patent applications in the wire and cable manufacturing sector has shown a fluctuating trend, peaking at 4,422 in 2020 and dropping to 2,195 in 2024 [4] - As of the first quarter of 2025, the most patents were filed in the field of cable conductors and insulating materials, totaling 10,580 [7] Technological Advancements - The wire and cable industry has made significant technological progress, particularly in the application of new materials and processes [10] - The development of new materials such as carbon fiber, graphene, and high-voltage direct current cable insulation has enhanced product safety and reliability [11] - The demand for clean energy and low-carbon economy initiatives is leading to the creation of new wire and cable products that meet specific requirements for renewable energy applications [11]

证券代码：600973 证券简称：宝胜股份 公告编号：2025-020 宝胜科技创新股份有限公司关于召开2024年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： 会议召开时间：2025年05月06日 （星期二） 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：http://roadshow.sseinfo.com/） 登录新浪财经APP 搜索【信披】查看更多考评等级 公司出席本次业绩说明会的人员有：公司董事长生长山先生、总经理邵文林先生、总会计师闫修辉先 生、董事会秘书张庶人先生、独立董事路国平先生。如有特殊情况，参会人员将可能根据实际情况进行 调整。 四、 投资者参加方式 （一）投资者可在2025年05月06日（星期二）09:00-10:00，通过互联网登录上证路演中心 （https://roadshow.sseinfo.com/），在线参与本次业绩说明会，公司将及时回答投资者的提问。 （二）投资者可于2025年04月24日（星期四）至04月30日（星期三）1 ...