Group 1 - The 2024 Annual General Meeting (AGM) of the company is scheduled for June 25, 2025, at 14:30 [1][2] - The meeting will take place at the conference room 103 of Western Superconducting Technologies Co., Ltd [1] - Shareholders can vote through the Shanghai Stock Exchange's online voting system on the day of the meeting [1][2] Group 2 - The voting process includes both on-site and online voting methods [2] - The online voting will be available from 9:15 to 15:00 on the day of the AGM [1][2] - Shareholders must complete their voting for all proposals before submission [4] Group 3 - The meeting will be attended by shareholders registered with the China Securities Depository and Clearing Co., Ltd. as of the close of trading on the day before the meeting [5] - Company directors, supervisors, and senior management will also be present [6] - Legal representatives hired by the company may attend the meeting [7] Group 4 - Registration for the meeting will occur on June 24, 2025, from 9:00 to 16:00 [8] - Shareholders must provide valid identification and proof of shareholding to register [9] - The company will not cover travel and accommodation expenses for attending shareholders [9]

证券代码：688122 证券简称：西部超导 公告编号：2025-015 西部超导材料科技股份有限公司 关于召开2024年年度股东大会的通知 本公司董事会及全体董事保证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。 重要内容提示： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2024年年度股东大会 （二） 股东大会召集人：董事会 （三） 投票方式：本次股东大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 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 （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 （四） 现场会议召开的日期、时间和地点 召开日期时间：2025 年 6 月 25 日 14 点 30 分 召开地点：西部超导材料科技股份有限公司 103 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 6 月 ...

Group 1 - The Shanghai Military Industry Index (H50036) opened lower but rose by 0.59% to 7310.45 points, with a trading volume of 17.688 billion yuan [1] - Over the past month, the Shanghai Military Industry Index has increased by 5.42%, by 5.28% over the last three months, and by 0.72% year-to-date [1] - The index includes listed companies primarily engaged in the military industry, selected from the ten major military groups and other related firms, reflecting the overall performance of military industry stocks in the Shanghai market [1] Group 2 - The top ten weighted stocks in the Shanghai Military Industry Index are: China Shipbuilding (9.82%), AVIC Shenyang Aircraft (7.76%), China Heavy Industry (7.25%), Aero Engine Corporation (6.74%), AVIC Aircraft (4.01%), China Power (3.5%), Aerospace Electronics (3.44%), Western Superconducting (3.2%), Ruichuang Micro-Nano (3.13%), and Lianchuang Optoelectronics (3.1%) [1] - The index is fully composed of stocks listed on the Shanghai Stock Exchange, with an industry composition of 77.10% in industrials, 12.67% in information technology, 6.07% in materials, 3.13% in communication services, and 1.03% in consumer discretionary [1] Group 3 - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December, with sample adjustments generally not exceeding 10% [2] - Weight factors are adjusted in accordance with sample changes, remaining fixed until the next scheduled adjustment, with provisions for temporary adjustments in special circumstances [2]

Group 1 - The Shanghai Stock Exchange National New Sci-Tech Board State-Owned Enterprises Index (950253) rose by 0.75% to 965.85 points, with a trading volume of 13.986 billion yuan [1] - Over the past month, the index has decreased by 0.95%, down 6.33% over the last three months, and down 1.45% year-to-date [1] - The index reflects the overall performance of state-owned enterprises listed on the Sci-Tech Board, selected from companies with state capital participation and no actual controller, with a base date of December 30, 2022, set at 1000.0 points [1] Group 2 - The top ten weighted stocks in the index include: China Resources Microelectronics (6.16%), Haiguang Information (5.65%), Western Superconducting (5.45%), Huahai QK (5.31%), SMIC (5.09%), Zhongwei Company (3.94%), Jinghe Integration (3.92%), Huahong Semiconductor (3.81%), Zhongke Xingtu (3.33%), and China Communication Signal (3.18%) [1] - The index's holdings are entirely from the Shanghai Stock Exchange, with the information technology sector comprising 53.73%, industrial sector 30.09%, materials sector 9.87%, healthcare sector 3.63%, and communication services sector 2.69% [1] Group 3 - The index sample is adjusted every six months, with adjustments implemented on the next trading day following the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made under special circumstances [2]

Core Viewpoint - The A-share controllable nuclear fusion sector has seen significant growth, driven by accelerated commercialization of nuclear energy, with the potential for limitless energy generation if controllable nuclear fusion is realized [1] Industry Overview - Controllable nuclear fusion is based on the fundamental principles of stellar energy release, offering a clean, efficient, and sustainable energy source with minimal radioactive waste [1] - The primary fuels for nuclear fusion are tritium and deuterium, with 1 liter of seawater capable of extracting 0.035 grams of deuterium, releasing energy equivalent to burning 300 liters of gasoline, and the global supply of deuterium from seawater could last for over a hundred billion years [1] Technological Pathways - Global fusion research primarily focuses on two main technological pathways: magnetic confinement fusion and inertial confinement fusion, with ITER being the most representative project for magnetic confinement and the National Ignition Facility (NIF) for inertial confinement [1] - Magnetic confinement fusion is considered the most effective approach for developing fusion energy due to its longer energy confinement time, higher technological maturity, and stronger engineering feasibility [1] Domestic Industry Chain - The domestic controllable nuclear fusion industry chain is taking shape, with upstream companies providing raw materials such as superconducting materials and tungsten-based materials [2] - Key players in the upstream include Western Superconducting (SH688122), Shanghai Superconductor, and Antai Technology (SZ000969), among others [2] - Midstream equipment manufacturers include Western Superconducting and Guoguang Electric (SH688776), which supply components for magnetic confinement systems [2] Application and Commercialization - Downstream application firms include China National Nuclear Power Co. and China General Nuclear Power Group, responsible for the operation and construction of nuclear power plants [3] - The commercialization of controllable nuclear fusion is progressing, with various companies involved, although many have not disclosed the revenue contribution from related businesses [3] - Guoguang Electric's products are key components for the ITER project, while Western Superconducting is the only domestic producer of superconducting materials for ITER and is also involved in the CFETR project [3] Future Prospects - The timeline for the commercialization of controllable nuclear fusion is projected around 2030, with significant advancements expected by 2035 [5] - The BEST project in Hefei aims to enhance the economic viability of nuclear fusion energy and is expected to complete by 2027, potentially becoming the world's first compact fusion energy experimental device [5][6] - Achieving commercial viability requires meeting specific criteria, including maintaining plasma conditions and achieving a fusion gain greater than one [6]

Core Insights - The report analyzes the global coaxial cable market for quantum computing, highlighting the critical role of ultra-low temperature coaxial cables in superconducting quantum computing systems, which must meet extreme low-temperature requirements for high-fidelity signal transmission, low thermal load, and interference resistance [1][7][8] - The market is segmented, with high-end products below 4K priced at $3,000 each, dominated by international manufacturers, while domestic companies like Western Superconducting are gradually overcoming technical barriers through material localization and process innovation [1][2][18] - The demand for coaxial cables is closely linked to the scale of quantum bits, with a practical requirement of approximately 3,100 cables for a 1,000-qubit quantum computer, potentially reduced to 1,100 cables under ideal conditions [1][8] Market Analysis - The ultra-low temperature coaxial cable market exhibits significant stratification, with high-end products priced at $3,000 for 4K and above products priced at $1-2 per meter, indicating a clear differentiation in product offerings [1][18] - The profit margins for 4K below products dominate, with a gross profit of $800-1,200 per cable and a gross margin of 27%-40% [1][8] - The report emphasizes the need for innovation in flexible, photonic multiplexing, and high-density integration to address challenges such as "wiring walls" and cooling limits [1][2][8] Competitive Landscape - International firms like Delft Circuits and CryoCoax monopolize the high-end market, while domestic players like Western Superconducting lead in NbTi and Nb₃Sn wire materials, although innovations in flexible cables still require breakthroughs [2][8] - The future of the industry may see advancements in all-optical wiring and time/frequency division multiplexing technologies, which could enhance transmission efficiency and reduce reliance on traditional coaxial cables [2][8] Technical Challenges - The coaxial cables face significant technical barriers, including low-temperature compatibility, high-frequency stability, low loss and noise, and supply chain constraints [29] - The report identifies the "wiring wall" issue as a limitation for scaling quantum bits, with existing dilution refrigerators struggling to meet the cooling demands of high-density wiring [27][29] Future Outlook - The report anticipates that breakthroughs in flexible cables, fiber optic transmission, and multiplexing technologies will create new opportunities for industry growth [8][29] - The ability to solve the extreme challenges of low-temperature connections will be crucial for advancing quantum system integration capabilities [8][29]

Group 1 - The superconducting concept sector rose by 3.12%, ranking third among concept sectors, with 21 stocks increasing in value, including Yongding Co. and Baili Electric, which hit the daily limit, and Jinbei Electric, Chenguang Medical, and Antai Technology showing significant gains of 7.26%, 6.39%, and 6.17% respectively [1] - The leading stocks in terms of net inflow of main funds included Yongding Co. with a net inflow of 273 million yuan, followed by Baili Electric and Jingda Co. with net inflows of 192 million yuan and 94.95 million yuan respectively [2][3] - The main fund inflow rates for Baili Electric, Jingda Co., and Yongding Co. were 18.10%, 10.04%, and 9.57% respectively, indicating strong investor interest in these stocks [3] Group 2 - The superconducting concept sector attracted a net inflow of 773 million yuan today, with 14 stocks receiving net inflows, and 6 stocks seeing inflows exceeding 30 million yuan [2] - The top stocks by net inflow in the superconducting concept sector included Yongding Co., Baili Electric, and Wolong Nuclear Materials, with respective net inflows of 273 million yuan, 192 million yuan, and 73.71 million yuan [2][3] - The overall performance of the superconducting concept sector reflects a positive market sentiment, with significant gains in several key stocks [1][2]

Core Viewpoint - The company has appointed two new vice presidents, Zhang Xiaohang and Lei Jinwen, to enhance its management and business development [1][3]. Group 1: Appointment Details - The board of directors approved the appointment of Zhang Xiaohang and Lei Jinwen as vice presidents during the seventh meeting of the fifth board on May 17, 2025 [1]. - The term for the newly appointed executives will last until the end of the current board's term [1]. Group 2: Background of New Executives - Zhang Xiaohang, born in 1982, holds a master's degree and has been with the company since September 2006, serving in various roles including assistant to the general manager and head of the marketing department [3]. - Lei Jinwen, also born in 1982, has a doctorate in engineering and has been with the company since February 2009, holding positions such as assistant to the factory manager and head of the production technology department [3]. - Both executives have significant experience in their respective fields, with Zhang involved in national standards and projects, and Lei having led numerous technology research projects and published extensively [3]. Group 3: Compliance and Relationships - As of the announcement date, both Zhang Xiaohang and Lei Jinwen do not hold any shares in the company and have no relationships with the controlling shareholders [4]. - They are not subject to any penalties from the China Securities Regulatory Commission or other relevant authorities, and they meet the qualifications for senior management positions as per applicable laws [4].

证券代码：688122 证券简称：西部超导 公告编号：2025-014 西部超导材料科技股份有限公司 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、准确性和完整性依法承担法律责任。 西部超导材料科技股份有限公司（以下简称"公司""西部超导"）于 2025 年 5 月 17 日召开第五届董事会第七次会议，审议通过了《关于聘任公司副总经理的议案》， 具体情况如下： 因公司经营管理及业务发展需要，根据《中华人民共和国公司法》《西部超导材 料科技股份有限公司章程》的有关规定，经公司总经理提名，提名委员会资格审查， 董事会同意聘任张小航先生、雷锦文先生为公司副总经理（简历后附）。 上述新任高级管理人员的任期自第五届董事会第七次会议审议通过之日起至第 五届董事会任期届满之日止。 特此公告。 西部超导材料科技股份有限公司董事会 附件： 张小航先生，中国国籍，无境外永久居留权，1982 年出生，硕士学历，2006 年 9 月加入西部超导，历任生产技术部部长助理、副部长、部长，现任西部超导 总经理助理兼市场部部长。先后参与撰写国家标准 1 项，参与国家产业化配套项 目、省 ...

证券代码：688122 证券简称：西部超导 公告编号：2025-014 附件： 西部超导材料科技股份有限公司 关于聘任高级管理人员的公告 上述新任高级管理人员的任期自第五届董事会第七次会议审议通过之日起至第 五届董事会任期届满之日止。 特此公告。 西部超导材料科技股份有限公司董事会 2025 年 5 月 20 日 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、准确性和完整性依法承担法律责任。 西部超导材料科技股份有限公司（以下简称"公司""西部超导"）于 2025 年 5 月 17 日召开第五届董事会第七次会议，审议通过了《关于聘任公司副总经理的议案》， 具体情况如下： 因公司经营管理及业务发展需要，根据《中华人民共和国公司法》《西部超导材 料科技股份有限公司章程》的有关规定，经公司总经理提名，提名委员会资格审查， 董事会同意聘任张小航先生、雷锦文先生为公司副总经理（简历后附）。 张小航先生，中国国籍，无境外永久居留权，1982 年出生，硕士学历，2006 年 9 月加入西部超导，历任生产技术部部长助理、副部长、部长，现任西部超导 总经理助理兼市场部部长 ...