Market Overview - On September 4, the industrial metals sector fell by 4.23%, with Huayu Mining leading the decline [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] Individual Stock Performance - Notable gainers included: - Yian Technology (300328) with a closing price of 18.60, up 3.91% [1] - Asia Pacific Technology (002540) at 6.58, up 3.46% [1] - Significant decliners included: - Huayu Mining (601020) at 24.65, down 10.00% [2] - Baiyin Nonferrous (601212) at 3.82, down 9.69% [2] - Luoyang Jiyie (603993) at 12.44, down 8.86% [2] Trading Volume and Capital Flow - The industrial metals sector experienced a net outflow of 3.687 billion yuan from main funds, while retail investors saw a net inflow of 2.769 billion yuan [2][3] - The trading volume for individual stocks varied, with notable figures such as: - Huayu Mining with a trading volume of 796,900 shares [2] - Baiyin Nonferrous with 4,925,700 shares [2] Capital Inflow Analysis - Key stocks with significant main fund inflows included: - Nanshan Aluminum (600219) with a net inflow of 71.11 million yuan [3] - Tianshan Aluminum (002532) with a net inflow of 34.90 million yuan [3] - Conversely, stocks like Tianshan Aluminum saw a retail net outflow of 56.38 million yuan [3]

格隆汇8月26日|永杰新材(603271.SH)在投资者互动平台表示，公司产品具有良好的综合性能，已应用到 包括华为、苹果等国际知名品牌的最终产品中。 ...

Group 1 - The core viewpoint of the news is that Yongjie New Materials experienced a decline in stock price and negative net financing on August 22, 2023, indicating potential investor concerns [1] - On August 22, Yongjie New Materials' stock fell by 1.28%, with a trading volume of 164 million yuan, and a net financing buy of -4.82 million yuan [1] - As of August 22, the total margin balance for Yongjie New Materials was 153 million yuan, which represents 9.72% of its circulating market value [1] Group 2 - Yongjie New Materials reported a revenue of 4.427 billion yuan for the first half of 2025, reflecting a year-on-year growth of 18.61% [1] - The company's net profit attributable to shareholders for the same period was 186 million yuan, showing a year-on-year increase of 13.62% [1] - The company has distributed a total of 63.934 million yuan in dividends since its A-share listing [2]

Core Insights - The trend of "less fundraising," "quick approval," and "fast listing" is becoming mainstream in the IPO market due to strict quality control and regulatory scrutiny on high pricing and oversubscription [1] - As of now, 46 companies are scheduled for IPOs by 2025, with half of them reducing their fundraising amounts, primarily in the range of 20%-40% [1] - The probability of reducing fundraising amounts is notably higher for companies on the Sci-Tech Innovation Board and the Beijing Stock Exchange [1] Fundraising Adjustments - Among the companies scheduled for IPOs, Taikaiying has reduced its fundraising from approximately 770 million yuan to about 390 million yuan, focusing on core projects [2] - The specialized equipment manufacturing and computer, communication, and other electronic equipment manufacturing sectors have seen the most significant reductions in fundraising amounts [2][3] - In the newly listed companies this year, 40 out of 65 have also experienced fundraising reductions, with the most significant drop being 73% for Saifen Technology [4] Industry Distribution - The computer, communication, and other electronic equipment manufacturing sectors have the highest number of companies with reduced fundraising amounts, followed by specialized equipment manufacturing and electrical machinery [6] - The trend of reducing fundraising amounts is consistent across both scheduled IPOs and newly listed companies, indicating a broader industry pattern [6] Reasons for Fundraising Reductions - The adjustments in fundraising amounts are influenced by regulatory policies and strategic shifts within companies [7] - A significant number of companies have chosen to cut or eliminate "supplementary working capital" projects due to regulatory scrutiny [8] - Companies like Marco Polo and Zhongce Rubber have made substantial cuts to their fundraising plans, focusing on core business development instead [8] Strategic Adjustments - Some companies have faced questions regarding the necessity and feasibility of their fundraising projects, leading to reductions in planned investments [9] - Companies like Hengkun New Materials have adjusted their fundraising plans due to changes in market conditions and strategic realignments [10]

投资者可于 2025 年 08 月 20 日 （星期三） 至 08 月 26 日 （星 期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目 或通过公司邮箱 yjxc@dongnanal.com 进行提问。公司将在说明会上 对投资者普遍关注的问题进行回答。 证券代码：603271 证券简称：永杰新材 公告编号：2025-036 永杰新材料股份有限公司 关于召开 2025 年半年度业绩暨现金分红说明会的公 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法律责任。 重要内容提示： 会议召开时间：2025 年 08 月 27 日 （星期三） 13:00-14:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 （二） 会议召开地点：上证路演中心 （三） 会议召开方式：上证路演中心网络互动 三、 参加人员 永杰新材料股份有限公司（以下简称"公司"）已于 2025 年 8 月 13 日发布公司 2025 年半年度报告，为便于广大 ...

永杰新材（603271.SH）8月14日在投资者互动平台表示，液冷市场通常涵盖新能源汽车动力电池热管 理、储能系统热管理、数据中心与服务器热管理等场景的冷却应用。公司液冷板材料稳定量产，目前已 进入国内主要制造商三花智控、科创新源等的供应体系，具体终端用户用于哪些场景并不完全掌握。 （记者 王晓波） 每经AI快讯，有投资者在投资者互动平台提问：董秘你好，请问贵公司的液冷板进入服务器行业了 吗？下游客户有哪些？ ...

Core Viewpoint - Yongjie New Materials (603271.SH) is actively participating in the liquid cooling market, which includes applications in electric vehicle battery thermal management, energy storage system thermal management, and data center cooling solutions [1] Group 1: Company Developments - The company has achieved stable mass production of liquid cooling plate materials [1] - Yongjie New Materials has entered the supply chain of major domestic manufacturers such as Sanhua Intelligent Controls and Kexin New Energy [1] - The specific end-user applications for these materials are not fully understood by the company [1] Group 2: Industry Insights - The liquid cooling market encompasses various cooling applications, including those for new energy vehicles, energy storage systems, and data centers [1]

格隆汇8月14日丨永杰新材(603271.SH)在投资者互动平台表示，液冷市场通常涵盖新能源汽车动力电池 热管理、储能系统热管理、数据中心与服务器热管理等场景的冷却应用。公司液冷板材料稳定量产，目 前已进入国内主要制造商三花智控、科创新源等的供应体系，具体终端用户用于哪些场景并不完全掌 握。 ...

Core Viewpoint - Yongjie New Materials reported strong revenue and profit growth in the first half of 2025, driven by robust demand in downstream industries such as lithium batteries and electronics [1][2]. Financial Performance - The company achieved a revenue of 4.427 billion yuan, representing a year-on-year increase of 18.61% [1]. - Net profit attributable to shareholders reached 186 million yuan, up 13.62% year-on-year [1]. - The net profit after deducting non-recurring items was 188 million yuan, reflecting a growth of 15.18% [1]. Market Demand and Product Applications - The demand for aluminum plates and foils is primarily driven by the lithium battery and electronics sectors, with significant growth opportunities in new fields such as low-altitude economy, artificial intelligence, and robotics [1][2]. - Yongjie New Materials' aluminum plates are used in critical components of power lithium batteries, including cell casings and cooling plates, while aluminum foils are utilized in various battery types, including solid-state and sodium batteries [2]. Sales Growth and Product Development - Sales of aluminum alloy plates and strips increased by 65.64% year-on-year, supported by continuous technical upgrades and a diverse product range [2]. - High-strength battery foils achieved stable mass production, with sales growing by 88.11% year-on-year, gaining recognition from major clients like CATL and BYD [2]. Risk Management and Cost Control - The company has implemented hedging strategies to mitigate the impact of raw material price fluctuations, effectively stabilizing gross margins [3]. - Hedging operations have improved the company's bank credit ratings and reduced financing costs, indirectly enhancing profits [3].

Core Viewpoint - Yongjie New Materials (603271) reported a strong performance in its 2025 mid-year financial results, with significant increases in revenue and net profit, although some profitability margins showed a decline [1]. Financial Performance - Total revenue reached 4.427 billion yuan, an increase of 18.61% year-on-year [1]. - Net profit attributable to shareholders was 186 million yuan, up 13.62% year-on-year [1]. - In Q2 alone, total revenue was 2.446 billion yuan, reflecting an 18.53% increase year-on-year, while net profit for the quarter was 110 million yuan, up 13.53% [1]. - Gross margin was 8.8%, down 4.68% year-on-year, and net margin was 4.2%, down 4.21% year-on-year [1]. - Total expenses (selling, administrative, and financial) amounted to 43.54 million yuan, accounting for 0.98% of revenue, a decrease of 22.57% year-on-year [1]. - Earnings per share (EPS) was 1.08 yuan, a decrease of 2.7% year-on-year, while operating cash flow per share surged to 2.06 yuan, an increase of 435.16% [1]. Balance Sheet Changes - Cash and cash equivalents increased by 104.35% to 944 million yuan, primarily due to funds raised from the company's IPO [3]. - Accounts receivable rose by 67.38% to 1.045 billion yuan, attributed to increased sales [3]. - Short-term borrowings decreased by 90.65% to 120 million yuan, as the company repaid loans using raised funds [4]. - Long-term borrowings decreased by 55.67%, also due to the reclassification and repayment of loans [4]. Operational Insights - The increase in revenue was driven by expanded sales volume, with operating costs rising by 19.17% due to the same reason [4]. - Research and development expenses increased by 8.88%, indicating a focus on innovation [4]. - The company's return on invested capital (ROIC) was 15.49%, reflecting strong capital returns, although the net profit margin was relatively low at 3.94% [5]. Cash Flow and Debt Management - The net cash flow from operating activities increased significantly by 613.64%, driven by a higher proportion of payments made via bills [4]. - The company maintains a healthy cash position, with cash assets being robust [6]. Business Model and Strategy - The company's performance is primarily driven by research and development, necessitating a thorough examination of the underlying factors supporting this growth [7]. - Attention is recommended on cash flow status, with cash assets covering 72.91% of current liabilities, and accounts receivable reaching 327.23% of profit [8].