每经AI快讯，嘉元科技（SH 688388，收盘价：28.97元）8月29日发布公告称，公司第五届第五十二次 董事会会议于2025年8月28日以现场结合通讯表决方式召开。会议审议了《关于提请召开公司2025年第 四次临时股东会的议案》等文件。 2024年1至12月份，嘉元科技的营业收入构成为：工业占比85.9%，其他业务占比14.1%。 每经头条（nbdtoutiao）——申请超2万份，已开出41家，加盟海底捞，你要准备多少钱？1000万元不算 多，真实"账单"公布 （记者 张明双） ...

| 证券代码：688388 | 证券简称：嘉元科技 | 公告编号：2025-086 | | --- | --- | --- | | 转债代码：118000 | 转债简称：嘉元转债 | | 广东嘉元科技股份有限公司 董事减持股份结果公告 本公司董事会、全体董事及相关股东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。 重要内容提示： 董事持有股份的基本情况 减持计划的实施结果情况 2025 年 5 月 8 日，公司披露了《广东嘉元科技股份有限公司董事减持股份 计划公告》（公告编号：2025-055），公司董事赖仕昌先生基于个人资金需求， 计划自公告披露之日起 15 个交易日后的 3 个月内（根据中国证券监督管理委员 会及上海证券交易所规定禁止减持的期间除外），在符合法律法规规定的减持前 提下，根据市场情况拟以集中竞价交易、大宗交易的方式减持其所持有公司股份 1 合计不超过 3,076,200 股，拟减持股份占公司总股本比例不超过 0.7217%，减持 价格将根据市场价格确定。 近日，公司收到董事赖仕昌先生出具的《关于减持股份结果的告知函》，截 至 ...

证券代码：688388 证券简称：嘉元科技 公告编号：2025-084 转债代码：118000 转债简称：嘉元转债 广东嘉元科技股份有限公司 关于董事会提议向下修正"嘉元转债"转股价格的公告 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、准确性和完整性依法承担法律责任。 经中国证券监督管理委员会证监许可〔2021〕180 号文同意注册，公司于 2021 年 2 月 23 日向不特定对象发行了 1,240 万张可转换公司债券，每张面值 100 元， 发行总额 124,000.00 万元。本次发行的可转换公司债券的期限为自发行之日起 六年，即自 2021 年 2 月 23 日至 2027 年 2 月 22 日。 经上海证券交易所（以下简称"上交所"）自律监管决定书〔2021〕103 号 文同意，公司 124,000.00 万元可转换公司债券于 2021 年 3 月 15 日起在上交所 挂牌交易，债券简称"嘉元转债"，债券代码"118000"。 二、可转换公司债券转股价格历次调整情况 根据《广东嘉元科技股份有限公司向不特定对象发行可转换公司债券募集说 重要内容 ...

| 证券代码：688388 | 证券简称：嘉元科技 | 公告编号：2025-085 | | --- | --- | --- | | 转债代码：118000 | 转债简称：嘉元转债 | | 关于召开2025年第四次临时股东会的通知 重要内容提示： 一、 召开会议的基本情况 （一） 股东会类型和届次 2025年第四次临时股东会 广东嘉元科技股份有限公司 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。 （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 召开日期时间：2025 年 9 月 16 日 14 点 45 分 召开地点：广东省梅州市梅县区雁洋镇文社村广东嘉元科技股份有限公司办 公楼一楼会议室 （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会网络投票系统 网络投票起止时间：自2025 年 9 月 16 日 至2025 年 9 月 16 日 股东会召开日期：2025年9月16日 本次股东会采用的网络 ...

| 证券代码：688388 | 证券简称：嘉元科技 | 公告编号：2025-083 | | --- | --- | --- | | 转债代码：118000 | 转债简称：嘉元转债 | | 广东嘉元科技股份有限公司 第五届董事会第五十二次会议决议公告 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、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 广东嘉元科技股份有限公司（以下简称"公司"）第五届董事会第五十二次 会议（以下简称"会议"）于2025年8月28日以现场结合通讯表决方式召开。本 次会议通知于2025年8月28日以电子邮件方式送达全体董事，经全体董事一致同 意，豁免本次董事会会议的通知时限要求。本次会议由董事长廖平元先生召集并 主持，会议应出席董事9名，实际出席董事9名，出席会议人数符合《中华人民共 和国公司法》和《广东嘉元科技股份有限公司章程》（以下简称"《公司章程》"） 规定。会议的召集和召开程序符合有关法律、行政法规、部门规章、规范性文件 和《公司章程》的规定，会议决议合法、有效。 二、董事会会议审议情况 本次会议以记名投票表决方式审 ...

Group 1 - Longyang Electronics and Jin'an Guoji both hit the daily limit up in the afternoon trading session [1] - Jiangnan New Materials and Woge Optoelectronics previously reached the daily limit up [1] - Other companies such as Dongcai Technology, Fangbang Co., Jiyuan Technology, Tongguan Copper Foil, and Dongwei Technology also experienced gains [1]

Summary of the Conference Call for JiaYuan Technology Company Overview - **Company**: JiaYuan Technology - **Industry**: Copper foil production, particularly for lithium batteries and PCB applications Key Points and Arguments Financial Performance - In the first half of 2025, JiaYuan Technology achieved revenue of approximately 39.63 billion yuan, a year-on-year increase of 63.55% [3] - Net profit for the same period was around 37 million yuan, marking a turnaround from losses [3] - The company’s total production capacity reached 130,000 tons, with six production bases [3] Growth Drivers - The growth in performance was attributed to an increase in sales orders, improved capacity utilization, and reduced unit costs [4] - The introduction and expansion of overseas customer orders since the second quarter contributed significantly to revenue [4] Product Development - The company is accelerating the R&D of high-performance electrolytic copper foil, aiming for domestic substitution of high-end electronic circuit copper foil products [2] - New products under development include high specific surface area copper foil and double-sided nickel-plated copper foil for solid-state batteries [2][5] Market Outlook - For the second half of 2025, the company plans to adjust its production target from 90,000 tons to approximately 100,000 tons based on market demand and funding reserves [7] - The company expects to ship between 24,000 to 25,000 tons in the third quarter, with a total overseas order volume anticipated to be around 3,000 tons for the year [8] Strategic Initiatives - JiaYuan Technology plans to expand its overseas market presence, targeting 3,000 tons in 2025 and increasing to 20,000 tons in 2026, focusing on North America, Japan, South Korea, and Europe [12] - The company is evaluating the feasibility of establishing factories or cutting and packaging plants overseas to mitigate tariff impacts [15] Production Capacity and Future Plans - The total expected shipment for 2026 is projected to be 150,000 tons, with 130,000 tons for the domestic market and 20,000 tons for overseas [19] - The company’s production capacity is expected to increase to over 140,000 tons in 2026, with significant contributions from the Jiangxi Longnan base [24] Competitive Position - JiaYuan Technology is currently the only company exporting lithium battery copper foil on a large scale, actively exploring overseas markets [20] - The company is also focusing on enhancing its high-end product offerings to improve profitability [21] Challenges and Considerations - The company faces challenges in the PCB sector due to relatively weaker technical reserves compared to competitors, but it is increasing R&D investments in this area [11] - The profitability of high-end PCB products is uncertain and will depend on market conditions and pricing strategies [22] New Business Ventures - JiaYuan Technology is exploring new growth avenues in emerging fields such as low-altitude economy, AI computing, robotics, and semiconductors [28] - The company is cautious about mergers and acquisitions, focusing on projects that complement its core business and provide long-term benefits [29] Solid-State Battery Developments - The company is involved in three technology routes for solid-state batteries and expects to ship over 100 tons in 2025 [30] - Collaborations with leading manufacturers in the solid-state battery sector are ongoing to ensure product development aligns with market needs [31] Additional Important Information - The company’s copper wire and rod business, which previously faced losses, has turned profitable in 2025, contributing approximately 400 million yuan to revenue [26] - JiaYuan Technology is also working on the Kobalt business, with plans for mass production expected by the end of 2026 [32][33]

Core Insights - The core viewpoint of the article highlights the significant growth in revenue and profit for Jiayuan Technology in the first half of 2025, indicating a strong recovery and improved profitability compared to the previous year [1]. Financial Performance - As of the end of the reporting period, Jiayuan Technology reported total revenue of 3.963 billion yuan, a year-on-year increase of 63.55% [1]. - The net profit attributable to shareholders reached 36.7541 million yuan, up 134.94% year-on-year [1]. - In Q2 2025, total revenue was 1.982 billion yuan, reflecting a 32.75% increase compared to the same quarter last year [1]. - The gross margin improved significantly to 5.08%, with a year-on-year increase of 198.53%, while the net margin reached 0.85%, up 119.16% [1]. - Total expenses (selling, administrative, and financial) amounted to 143 million yuan, accounting for 3.6% of revenue, a decrease of 19.42% year-on-year [1]. Key Financial Metrics - Earnings per share (EPS) increased to 0.09 yuan, a rise of 136.00% year-on-year [1]. - Operating cash flow per share was 0.13 yuan, up 106.46% year-on-year [1]. - The company’s cash and cash equivalents increased by 21.96% to 2.367 billion yuan [1]. - Accounts receivable decreased by 12.37% to 1.01 billion yuan, indicating improved cash collection [1]. Changes in Financial Items - The significant decrease in trading financial assets by 88.59% was due to the redemption of wealth management products [1]. - Accounts payable increased by 198.93% due to prepayments received for photovoltaic projects [1]. - The company experienced a 119.14% increase in financial expenses, attributed to higher interest expenses and reduced interest income [4]. Market Position and Future Outlook - Jiayuan Technology is recognized as one of the few companies in the industry making progress in solid-state battery commercialization, with ongoing development of new products to meet market demands [3]. - The company is actively collaborating with downstream enterprises to research and develop new types of anode current collectors for solid-state batteries [3].

Core Viewpoint - 嘉元科技 (688388) reported strong financial performance for the first half of 2025, with significant increases in revenue and net profit compared to the previous year [1]. Financial Performance - Total revenue reached 3.963 billion yuan, a year-on-year increase of 63.55% [1]. - Net profit attributable to shareholders was 36.7541 million yuan, up 134.94% year-on-year [1]. - In Q2 2025, total revenue was 1.982 billion yuan, reflecting a 32.75% increase year-on-year, while net profit for the quarter was 12.2977 million yuan, up 121.42% [1]. - Gross margin improved to 5.08%, a year-on-year increase of 198.53%, and net margin reached 0.85%, up 119.16% [1]. Cost and Expenses - Total selling, administrative, and financial expenses amounted to 143 million yuan, accounting for 3.6% of revenue, a decrease of 19.42% year-on-year [1]. - Operating expenses decreased due to reduced business entertainment and employee compensation costs [5]. Cash Flow and Assets - Operating cash flow per share was 0.13 yuan, a significant increase of 106.46% year-on-year [1]. - Cash and cash equivalents increased by 21.96% to 2.367 billion yuan [1]. - Accounts receivable decreased by 12.37% to 1.01 billion yuan, indicating improved collection efficiency [1]. Debt and Liabilities - Interest-bearing liabilities rose by 30.43% to 5.137 billion yuan [1]. - The company has a healthy cash position, but attention is needed on debt levels and financial expenses [9]. Business Model and Future Outlook - The company is focusing on solid-state battery technology, having developed products that meet various technical requirements [10]. - Future production and sales will align with market demand for solid-state battery copper foil [10].

Investment Rating - The report maintains an "Accumulate" rating for the company [7] Core Views - The company achieved a revenue of 3.963 billion RMB in H1 2025, representing a year-over-year increase of 63.55%, and a net profit attributable to shareholders of 36.7541 million RMB, up 134.94% year-over-year [1][2] - The copper foil production reached approximately 41,400 tons, a year-over-year increase of 72.46%, with sales of 40,700 tons, up 63.01% year-over-year [2] - The company is optimistic about the second half of the year, driven by a recovery in the lithium battery industry and an increase in demand for high-value-added products [1][2] Summary by Sections Financial Performance - In Q2 2025, the company reported a revenue of 1.982 billion RMB, a year-over-year increase of 32.75% and a quarter-over-quarter increase of 0.07% [1] - The net profit for Q2 was 12.2977 million RMB, reflecting a year-over-year increase of 121.42% but a quarter-over-quarter decrease of 49.72% [1] Production and Capacity - The company has a production capacity utilization rate exceeding 90% as of the end of H1 2025, with plans to increase production to meet a target of over 100,000 tons for the year [2] - The company is expanding its production lines for high-end electronic circuit copper foil, with a planned total capacity of 35,000 tons, of which over 10,000 tons are already in production [3] Business Diversification - The company is diversifying its business by developing high-performance precision copper wire and expanding into photovoltaic energy storage [4] - The company is also exploring new growth areas such as AI computing, semiconductors, and robotics, potentially through mergers and acquisitions [4] Profit Forecast and Valuation - The forecast for net profit attributable to shareholders for 2025-2027 is 115.26 million RMB, 258.52 million RMB, and 407.41 million RMB, respectively [5] - The target price for the company is set at 35.73 RMB, based on a price-to-book ratio of 2.17 for 2025 [5][9]