Summary of Huadong Cable Conference Call Company Overview - Huadong Cable is a company with a significant overseas revenue share, projected to reach 67% in 2024, with a gross profit contribution of 73%, indicating strong risk resilience and competitive advantage in the context of global trade tensions [2][4][5]. Core Business and Profitability - The core business includes traditional cable operations and oil service engineering, with a profit of approximately 3.3 billion RMB and a compound annual growth rate (CAGR) of about 15% [3]. - The company has expanded into lithium battery electrolyte production in Angola, benefiting from lower local electricity costs, which are approximately 4,000 RMB per ton cheaper than domestic rates, leading to an estimated annual profit increase of over 300 million RMB from this new venture [3][9]. Financial Projections - Expected profits for Huadong Cable's main business are projected to exceed 400 million RMB in 2025, with the Angola aluminum project contributing nearly 600 million RMB, leading to an overall profit estimate close to 1 billion RMB [2][10]. - Future profit potential could reach over 2 billion RMB in the coming years, driven by the expansion of the aluminum project [10]. Strategic Importance of Angola Project - The Angolan aluminum project is viewed as a strategic initiative, with the Angolan president emphasizing its importance during a visit to China in March 2024, indicating high certainty for the project's success [2][13]. - The project leverages Angola's abundant and inexpensive hydroelectric resources, significantly reducing production costs compared to domestic operations [8][9]. Market Position and Competitive Advantage - Huadong Cable's overseas market presence includes operations in China, South Korea, Tanzania, and Cameroon, effectively mitigating trade barriers and enhancing global market share [4][11]. - The company has a family-run management structure, ensuring stability and alignment in long-term strategic goals [12]. Historical Performance - In 2023, the net profit from traditional operations was 360 million RMB, which is expected to decline to 320 million RMB in 2024 due to foreign exchange losses, but is projected to recover to around 400 million RMB in 2025 [7]. Industry Context - The domestic aluminum industry faces overcapacity, while the global demand remains strong, positioning Huadong Cable favorably for future growth [6]. - The company’s expansion plans include building a comprehensive aluminum industrial park in Angola, with a total capacity exceeding 500,000 tons planned over the next 8 to 10 years [18]. Valuation and Market Outlook - The company is expected to achieve a market capitalization increase from 7 billion RMB to over 15 billion RMB, indicating a potential doubling in value over three years [10]. - Huadong Cable's valuation is considered attractive, with projected P/E ratios significantly lower than comparable companies in the industry [24][25][26]. Conclusion - Huadong Cable is positioned as a key player in the cable and aluminum industries, with strong overseas operations, strategic projects in Angola, and a solid growth trajectory, making it a recommended investment opportunity for the coming years [27].

股东会审议通过回购股份方案之日起 12 个月内。 证券代码：605196 证券简称：华通线缆 公告编号：2025-039 河北华通线缆集团股份有限公司 关于以集中竞价交易方式回购股份的进展公告 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。 | 回购方案首次披露日 | 2024/11/6 | | --- | --- | | 回购方案实施期限 | 公司 2024 年第四次临时股东会审议通过后 12 个月内 | | 预计回购金额 | 5,000 万元~10,000 万元 | | 回购用途 | √减少注册资本 | | | √用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 累计已回购股数 | 648 万股 | | 累计已回购股数占总 | 1.27% | | 股本比例 | | | 累计已回购金额 | 77,898,001.00 元 | | 实际回购价格区间 | 10.79 元/股~13.15 元/股 | 重要内容提示： 一、 回购股份的基本情况 河北华通线缆集团股份有限公司（ ...

证券代码：605196 证券简称：华通线缆 公告编号：2025-038 河北华通线缆集团股份有限公司 关于实际控制人部分股份质押的公告 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: | 一、本次股份质押基本情况 | | --- | | | 是否为 | | | 是 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 控股股 | | | 否 | | | | | | | | | 股东 | 东或第 | 本次质押股 | 是否 | 补 | 质押起 | 质押到 | | | 占其所 | 占公司 | 质押融 | | | 一大股 | | 为限 | | | | | 质权人 | 持股份 | 总股本 | 资资金 | | 名称 | | 数（股） | | 充 | 始日 | 期日 | | | | | | | | 东及其 | | 售股 | | | | | | 比例 | 比例 | 用途 | | | 一致行 | ...

重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：605196 证券简称：华通线缆 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。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 ■ (二)非经常性损益项目和金额 √适用 □不适用 单位:元 币种:人民币 ■ 对公司将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1号一一非经常性 损益》中列举的非经常性损益项目界定为经常性损益的项目，应说明原因。 √适用 □不适用 单位：元 币种：人民币 ■ (三)主要会计数据、财务指标发生变动 ...

证券代码：605196 证券简称：华通线缆 公告编号：2025-037 河北华通线缆集团股份有限公司 关于对外投资规划的公告 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： 1、对外投资规划事项概况：河北华通线缆集团股份有限公司（以下简称"公 司"）本次对外投资规划包括投资不超过 200 万美元新设新加坡子公司华通环球 投资（新加坡）有限公司（以下简称"华通环球"）；公司拟将通过华通国际贸易 服务（新加坡）有限公司（以下简称"华通国际（新加坡）"）所持有的 Panama Cables & Engineering Co. Inc.（以下简称"Panama Cables"）100%股权及华通服务印 尼有限公司（PT. HUATONG SERVICES INDONESIA）（以下简称"华通印尼"）96% 股权按照账面净值无偿划转为公司通过华通环球持有；股权划转完成后，公司拟 通过华通环球对 Panama Cables 增加投资不超过 2,000 万美元，资金来源为公司 自有。 2、投资金额：公司拟投资不超过 200 ...

证券代码：605196 证券简称：华通线缆 公告编号：2025-036 河北华通线缆集团股份有限公司 第四届监事会第六次会议决议公告 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、准确性和完整性依法承担法律责任。 河北华通线缆集团股份有限公司（以下简称"公司"）第四届监事会第六次 会议通知于 2025 年 4 月 22 日发出，会议于 2025 年 4 月 25 日在公司会议室以现 场表决和通讯表决相结合的方式召开。会议应出席监事 3 人，实际出席监事 3 人，公司董事会秘书和证券事务代表列席了本次会议。会议由监事会主席孙启发 主持，召开及决策程序符合《公司法》、《公司章程》的有关规定，会议召开合 法有效。会议经参会监事书面表决，审议并通过了以下议案： 一、审议通过了《关于<公司 2025 年第一季度报告>的议案》 表决结果：3 票赞成、0 票反对、0 票弃权。 经审核，监事会认为：公司 2025 年第一季度报告的编制和审议程序符合法 律、法规及《公司章程》等相关制度的规定；内容与格式符合中国证监会和上海 证券交易所的相关规定，所披露的信息真实、准确、完 ...

河北华通线缆集团股份有限公司（以下简称"公司"、"华通线缆"）第四 届董事会第六次会议通知于 2025 年 4 月 22 日发出，会议于 2025 年 4 月 25 日在 公司会议室以现场表决和通讯表决相结合的方式召开。会议应出席董事 9 人，实 际出席董事 9 人，公司监事、高级管理人员列席了本次会议。会议由董事长张文 东主持，召开及决策程序符合《公司法》《公司章程》的有关规定，会议召开合 法有效。会议经参会董事书面表决，审议并通过了以下议案： 一、审议通过了《关于<公司 2025 年第一季度报告>的议案》 表决结果：9 票赞成、0 票反对、0 票弃权。 本议案已经公司审计委员会审议通过，并同意将该议案提交董事会审议。具 体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）披露的《河北 华通线缆集团股份有限公司 2025 年第一季度报告》。 二、审议通过了《关于海外子公司股权规划的议案》 表决结果：9 票赞成、0 票反对、0 票弃权。 河北华通线缆集团股份有限公司 第四届董事会第六次会议决议公告 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 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,535,841,463.06, representing an increase of 11.25% compared to CNY 1,380,484,308.41 in the same period last year[4] - Net profit attributable to shareholders decreased by 53.79% to CNY 41,705,783.53 from CNY 90,243,578.81 year-on-year[4] - Basic and diluted earnings per share dropped by 55.56% to CNY 0.08 from CNY 0.18 in the same period last year[4] - The total comprehensive income for the period was CNY 47,469,444.42, a decrease from CNY 86,714,780.39 in the previous year[25] - Net profit for Q1 2025 was ¥41,310,657.13, a decrease of 54.2% from ¥90,196,422.89 in Q1 2024[24] Cash Flow - The net cash flow from operating activities increased by 89.16% to CNY 58,916,761.14, compared to CNY 31,145,937.02 in the previous year[4] - Cash inflow from operating activities was CNY 1,648,990,980.88, compared to CNY 1,347,450,917.37 in the previous year, representing an increase of approximately 22.4%[27] - Net cash flow from financing activities was CNY 431,929,296.54, compared to CNY 188,926,637.58 in the same quarter last year, indicating a substantial increase[29] - The cash and cash equivalents at the end of the period amounted to CNY 660,075,749.37, up from CNY 626,654,383.00 year-over-year[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,695,086,277.40, an increase of 8.59% from CNY 7,086,105,400.13 at the end of the previous year[4] - Current assets totaled ¥4,958,728,362.37, reflecting a growth of 3.6% from ¥4,786,389,277.32[19] - Current liabilities rose to ¥3,822,646,237.94, an increase of 26.4% from ¥3,025,976,472.20[20] - The company's total equity attributable to shareholders increased to ¥3,199,890,092.86 as of March 31, 2025, compared to ¥3,148,209,055.93 at the end of 2024[20] Expenses - Total operating costs for Q1 2025 were ¥1,485,968,007.94, up 16.6% from ¥1,274,257,004.80 in Q1 2024[24] - Research and development expenses increased by 75.43%, indicating a significant investment in new product and technology development[8] - Research and development expenses for Q1 2025 were ¥26,916,673.34, significantly higher than ¥15,343,257.92 in Q1 2024, indicating a focus on innovation[24] - Financial expenses surged by 129.35%, primarily due to increased interest expenses and exchange rate fluctuations[8] - The company experienced a 93.56% increase in taxes and surcharges, mainly due to higher urban construction tax and education fees[8] Shareholder Information - The total number of common shareholders at the end of the reporting period is 13,982[11] - The largest shareholder, Zhang Wenyong, holds 85,199,100 shares, representing 16.66% of total shares[11] - The top 10 shareholders collectively hold a significant portion of shares, with the top two shareholders (Zhang Wenyong and Zhang Wendong) holding a combined 31.13%[12] - The company has no changes in the shareholding structure due to securities lending or borrowing activities[12] Fundraising and Projects - The company has completed the fundraising project for "new aluminum alloy composite and data center dedicated distribution cables" with a total investment of 237.046 million RMB, and has spent 236.4677 million RMB as of April 25, 2025[15] - The R&D center construction project has been terminated, and the remaining funds will be permanently supplemented for working capital, totaling 8.19526 million RMB[14] - The company plans to use the surplus fundraising for daily operations and business development, complying with regulations from the CSRC and Shanghai Stock Exchange[15] - The fundraising for the "new aluminum alloy composite and data center dedicated distribution cables" project is expected to be fully utilized by March 2025[14] - The company has a total of 5,000,000 RMB allocated for working capital, which has been adjusted to 8,195,260 RMB[14] - The company has confirmed that all fundraising projects have been completed and will not change the intended use of funds[15]

华通线缆（605196）公告，2025年第一季度营业收入15.36亿元，同比增长11.25%。净利润4170.58万 元，同比下降53.79%。 ...

证券代码：605196 证券简称：华通线缆 公告编号：2025-034 河北华通线缆集团股份有限公司 关于召开 2024 年年度股东会的通知 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、 召开会议的基本情况 (二) 股东会召集人：董事会 (三) 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 (四) 现场会议召开的日期、时间和地点 (六) 融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 (一) 股东会类型和届次 2024 年年度股东会 召开的日期时间：2025 年 5 月 22 日 14 点 30 分 召开地点：河北省唐山市丰南区华通街 111 号公司四层会议室 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2025 年 5 月 22 日 至 2025 年 5 月 22 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25,9:3 ...