Core Viewpoint - Jintian Co. is expected to achieve a net profit attributable to shareholders of 700-800 million yuan in 2025, representing a year-on-year growth of 51.50%-73.14% [1] Financial Performance - The median profit estimate is 750 million yuan, which is 1.8% higher than the consensus forecast of 737 million yuan [1] - The company is making progress in high value-added product expansion, product structure optimization, and improvement in profitability [1] Share Buyback Plan - The company plans to implement a share buyback using 200-400 million yuan from January 27, 2026, to January 26, 2027 [1] - The repurchased shares will be used entirely for the conversion of convertible bonds (Jintian Convertible Bonds) and will not be used for capital reduction or equity incentives [1] - This buyback reflects the company's confidence in long-term development and steady optimization of its capital structure [1] Market Position and Strategy - The company is accelerating the introduction of high-end copper-based materials in the overseas market for computing heat dissipation, leading to a rapid increase in sales and significant improvement in profitability [1] - Fluctuations in copper prices have a limited impact on the company's profitability, as it actively explores the "aluminum replacing copper" direction, optimizing the gross profit structure and enhancing the ability to hedge against copper price volatility [1] Investment Rating - The company maintains a "Buy" rating [1]

Group 1 - The report highlights the establishment of two structural monetary policy tools by the central bank to support the stable development of the capital market, with a total combined quota of 800 billion yuan, which is expected to reshape the A-share ecosystem [4][8] - In January, the total amount applied for stock repurchase and increase loans decreased by 11% month-on-month, primarily due to an 86% decline in the amount applied for increases [9][8] - The A-share repurchase situation in January showed a significant decline, with the total repurchase amount at approximately 14.93 billion yuan, down 33% from December, and the number of repurchase plans also decreased by 42% [11][8] Group 2 - The report indicates that in January, the total amount of repurchases and increases in the A-share market was approximately 149.3 billion yuan, with 77% of the funds being self-owned or raised funds [11][20] - The report identifies three companies with the largest proposed repurchase amounts: Jinkai New Energy (5-6 billion yuan), Century Huatong (3-6 billion yuan), and Jintian Co., Ltd. (2-4 billion yuan) [11][20] - In January, the Hong Kong stock market saw a repurchase amount of approximately 12.83 billion Hong Kong dollars, a decrease of 41% from December, with Tencent Holdings, Xiaomi Group-W, and Sunny Optical Technology being the top three companies by repurchase amount [26][20] Group 3 - The report lists companies that have announced new repurchase and increase plans in January, providing insights into their fundamentals, current valuations, and the proportion of repurchase/increase amounts [31][32] - It also tracks new dividend commitments from listed companies, with a notable commitment from Yanghe Brewery to distribute no less than 100% of the net profit attributable to shareholders as cash dividends for the years 2025-2027 [34][33]

Core Viewpoint - The company is focusing on internationalization and expanding its overseas business while enhancing its brand influence globally [2] Group 1: International Expansion - The company is actively expanding its operations in Vietnam and is making good progress on the construction of a new production base in Thailand [2] Group 2: Product Development and Market Share - The company aims to increase the proportion of high-voltage flat wires for electric vehicles to 47% by the end of 2025 [2] - In the semiconductor sector, the sales volume of copper materials is expected to exceed 40,000 tons, with over 14,000 tons in the computing heat dissipation area, showing a year-on-year growth rate of nearly 60% [2] - The company is continuously expanding its market share in high-end industries and emerging fields [2] Group 3: Sustainability and Profitability - The company is seizing opportunities in green and low-carbon development, enhancing its technological reserves and business cooperation in the recycled copper sector [2] - These efforts are aimed at improving the overall profitability of the company [2]

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Insights - The company is expected to achieve a net profit of 7.0 to 8.0 billion yuan in 2025, representing a year-on-year growth of 51.50% to 73.14% [6] - The company has initiated a share buyback program, reflecting confidence in long-term development and steady optimization of its capital structure [6] - The company's high-end copper-based materials are rapidly gaining traction in the overseas market for computing heat dissipation, with significant sales growth [6] - The fluctuation of copper prices has a limited impact on the company's profitability due to its pricing model based on processing fees rather than copper prices [6] - The company is actively exploring "aluminum replacing copper" strategies to optimize its profit structure and enhance its ability to hedge against copper price volatility [6] Financial Data and Profit Forecast - Total revenue is projected to grow from 110.5 billion yuan in 2023 to 153.6 billion yuan in 2027, with a compound annual growth rate (CAGR) of approximately 7.1% [5][8] - The net profit attributable to shareholders is expected to increase from 527 million yuan in 2023 to 1.186 billion yuan in 2027, with a peak growth rate of 53.9% in 2025 [5][8] - Earnings per share (EPS) are forecasted to rise from 0.30 yuan in 2023 to 0.80 yuan in 2027 [5][8] - The company's gross margin is anticipated to improve gradually from 2.3% in 2023 to 2.9% in 2027 [8] - The return on equity (ROE) is expected to increase from 6.4% in 2023 to 10.3% in 2027 [5][8]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the near term [6]. Core Insights - The company is expected to achieve a net profit of 7.0 to 8.0 billion yuan in 2025, representing a year-on-year growth of 51.50% to 73.14% [6]. - The implementation of share buybacks reflects the company's confidence in its long-term development and is part of a strategy to optimize its capital structure [6]. - The company's high-end copper-based materials are rapidly gaining traction in the overseas market, particularly in the computing cooling sector, with a significant increase in sales [6]. - The pricing model for the company's products is based on "copper price + processing fee," which mitigates the impact of copper price fluctuations on profitability [6]. - The company is actively pursuing "aluminum replacing copper" strategies to enhance its profit margins and counteract copper price volatility [6]. Financial Data and Profit Forecast - Total revenue is projected to grow from 110.5 billion yuan in 2023 to 153.6 billion yuan in 2027, with a compound annual growth rate (CAGR) of approximately 7.1% [5][8]. - The net profit for 2023 is estimated at 527 million yuan, with projections of 711 million yuan in 2025 and 1.186 billion yuan in 2027, reflecting significant growth rates of 53.9% and 18.7% respectively [5][8]. - Earnings per share (EPS) are expected to increase from 0.30 yuan in 2023 to 0.80 yuan in 2027 [5][8]. - The company's gross margin is anticipated to improve gradually from 2.3% in 2023 to 2.9% in 2027 [5][8]. - Return on equity (ROE) is projected to rise from 6.4% in 2023 to 10.3% in 2027, indicating enhanced profitability [5][8].

Core Viewpoint - The company is focusing on internationalization strategies to enhance its overseas business scale and brand influence, with ongoing expansion projects in Vietnam and Thailand [1] Group 1: International Expansion - The company is actively expanding its business cooperation in Vietnam and has made smooth progress in constructing a new production base in Thailand [1] Group 2: Product Development and Market Share - The company aims to increase the proportion of high-voltage flat wires for new energy vehicles to 47% by the end of 2025 [1] - In the semiconductor field, the sales volume of copper materials is expected to exceed 40,000 tons, with over 14,000 tons in the computing heat dissipation sector, showing a year-on-year growth rate of nearly 60% [1] - The company is continuously expanding its market share in high-end industries and emerging product applications [1] Group 3: Sustainability and Profitability - The company is seizing opportunities in green and low-carbon development, enhancing its technical reserves and business cooperation in the recycled copper sector [1] - These efforts are aimed at supporting the continuous improvement of the company's overall profitability [1]

| 证券代码：601609 | 证券简称：金田股份 公告编号：2026-010 | | --- | --- | | 债券代码：113046 | 债券简称：金田转债 | 宁波金田铜业（集团）股份有限公司 关于以集中竞价交易方式首次回购公司股份的公告 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法律责任。 二、 回购股份的进展情况 1 根据《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关 法律、法规及规范性文件的规定，现将首次回购股份的情况公告如下： 2026 年 2 月 3 日，公司通过集中竞价交易方式首次回购股份 850,000 股，占 公司目前总股本的比例为 0.05%，成交的最高价格为 11.64 元/股，成交的最低价 格为 11.30 元/股，支付的资金总额为 9,705,797 元（不含交易费用）。 上述回购符合相关法律法规的规定及公司既定的回购股份方案。 三、 其他事项 重要内容提示： | 回购方案首次披露日 | 2026/1/30 | | | | | | | | --- | --- | --- | --- ...

格隆汇2月3日丨金田股份(601609.SH)公布，2026年2月3日，公司通过集中竞价交易方式首次回购股份 850,000股，占公司目前总股本的比例为0.05%，成交的最高价格为11.64元/股，成交的最低价格为11.30 元/股，支付的资金总额为9,705,797元（不含交易费用）。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：601609 证券简称：金田股份 公告编号：2026-008 债券代码：113046 债券简称：金田转债 宁波金田铜业（集团）股份有限公司 关于以集中竞价交易方式回购公司 股份的进展公告 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： ■ 一、回购股份的基本情况 宁波金田铜业（集团）股份有限公司（以下简称"公司"）于2026年1月27日召开第九届董事会第十二次 会议，审议通过了《关于以集中竞价交易方式回购公司股份方案的议案》，同意公司使用专项贷款及公 司自有资金通过集中竞价交易方式回购公司股份，用于转换公司可转债（以下简称"本次回购"）。公司 拟用于本次回购的资金总额不低于人民币20,000万元（含）且不超过人民币40,000万元（含），回购价 格不超过人民币16.84元/股（含）；本次回购的实施期限为自公司董事会审议通过本次回购股份方案之 日起不超过12个月（即2026年1月27日至2027年1月26日）。具体内容详见公司在上海证券交易所网站 （ww ...

证券日报网讯2月2日，金田股份（601609）发布公告称，截至2026年1月31日，公司暂未进行股份回 购，后续将根据市场情况择机实施本次回购计划。 ...