Group 1 - The core point of the news is that Jia Yuan Technology's stock has reached the daily limit increase, with a price of 34.20 yuan and a trading volume of 1.176 billion yuan as of 09:39 on September 10 [1] - Among the stocks listed on the Sci-Tech Innovation Board, 399 stocks have risen, with 6 stocks increasing by more than 5%, including Jia Yuan Technology, which rose by 20.00% [1] - Conversely, 178 stocks have declined, with significant drops seen in Daquan Energy, Boliview, and Ao Jing Medical, which fell by 8.02%, 5.45%, and 4.85% respectively [1] Group 2 - In terms of capital flow, Jia Yuan Technology experienced a net outflow of 61.4815 million yuan on the previous trading day, with a total net outflow of 118 million yuan over the past five days [2] - The latest margin trading data shows that as of September 9, the total margin balance for the stock is 777 million yuan, with a financing balance of 776 million yuan, a decrease of 13.8861 million yuan or 1.76% from the previous trading day [2] - The company's semi-annual report released on August 26 indicates that it achieved an operating income of 3.963 billion yuan in the first half of the year, a year-on-year increase of 63.55%, and a net profit of 36.7541 million yuan, a year-on-year increase of 134.94% [2] Group 3 - In terms of institutional ratings, the stock received buy ratings from two institutions in the past month, with Huatai Securities giving a target price of 35.73 yuan on August 26 [2] - On August 20, Everbright Securities also issued a report giving the stock an "accumulate" rating [2]

（文章来源：每日经济新闻） 每经AI快讯，CPO板块盘初走高，嘉元科技涨超10%，新易盛、剑桥科技涨超7%，中际旭创、天孚通 信、工业富联涨超5%。 ...

Core Insights - The PET copper foil sector has seen a significant increase of 5.88%, ranking third among concept sectors in terms of growth [2] - A total of 44 stocks within this sector experienced gains, with notable stocks like XianDao Intelligent and LiYuanHeng hitting the 20% limit up [2] - The sector attracted a net inflow of 3.277 billion yuan from major funds, with XianDao Intelligent leading the inflow at 1.968 billion yuan [2][3] Market Performance - The top-performing concept sectors for the day included: - Solid-state batteries: +6.90% - Sodium-ion batteries: +6.72% - PET copper foil: +5.88% - Perovskite batteries: +5.67% - Two-wheeled vehicles: +5.52% [2] Fund Flow Analysis - Major fund inflow ratios were led by: - GuangHua Technology: 41.16% - OuKe Technology: 29.90% - JieMei Technology: 19.52% [3] - The top stocks by fund inflow included: - XianDao Intelligent: 1.968 billion yuan - DaDongNan: 280.10 million yuan - GuangHua Technology: 218.74 million yuan [4]

广东嘉元科技股份有限公司 2025 年第四次临时股东会会议资料 广东嘉元科技股份有限公司 2025 年第四次临时股东会 会议资料 2025 年 9 月 16 日 1 广东嘉元科技股份有限公司 2025 年第四次临时股东会会议资料 股东会须知 为保障广东嘉元科技股份有限公司（以下简称"公司"）全体股 东的合法权益，维护股东会的正常秩序，保证股东会的议事效率，确 保本次股东会如期、顺利召开，根据《中华人民共和国公司法》（以 下简称"《公司法》"）、《中华人民共和国证券法》《广东嘉元科 技股份有限公司章程》（以下简称"《公司章程》"）、《广东嘉元 科技股份有限公司股东会议事规则》及中国证券监督管理委员会、上 海证券交易所的有关规定，特制定本须知。 二、为保证股东会的严肃性和正常秩序，切实维护与会股东（或 股东代表）的合法权益，除出席会议的股东（或股东代表）、公司董 事、高级管理人员、见证律师及董事会邀请的人员外，公司有权依法 拒绝其他人员进入会场。 三、出席会议的股东（或股东代表）须在会议召开前 20 分钟到 会议现场办理签到手续，并请按规定出示证券账户卡、身份证或法人 单位证明、授权委托书以及参会回执等，经验证后 ...

Core Points - The company has completed the registration change and obtained a new business license following the approval of the board and shareholders to cancel the supervisory board, change registered capital, and amend the articles of association [2][3] Company Information - The registered capital of the company is RMB 426,239,162 (approximately 426 million) [2] - The company is classified as a public limited company and is located in Meizhou, Guangdong Province [2] - The business scope includes new materials technology research and development, sales of high-performance non-ferrous metals and alloys, electronic materials manufacturing, and various technology services [2]

证券日报网讯 9月4日晚间，嘉元科技发布公告称，公司分别于2025年7月31日召开第五届董事会第四十 九次会议审议通过了《关于取消监事会、变更注册资本、修订并办理工商变更登记的议案》、2025年8 月19日召开公司2025年第三次临时股东大会审议通过《关于取消监事会、变更注册资本、修订并办理工 商变更登记的议案》。近日，公司已完成工商变更登记和备案手续，并取得了梅州市市场监督管理局换 发的《营业执照》。 （文章来源：证券日报） ...

| | | 广东嘉元科技股份有限公司 关于完成工商变更登记并换发营业执照的公告 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。 统一社会信用代码：914414007321639136 类型：其他股份有限公司（上市） 住所：梅州市梅县区雁洋镇文社村（一照多址） 法定代表人：杨剑文 注册资本：人民币肆亿贰仟陆佰贰拾叁万玖仟壹佰陆拾贰元 成立日期：2001 年 09 月 29 日 广东嘉元科技股份有限公司（以下简称"公司"）分别于 2025 年 7 月 31 日召开第五届董事会第四十九次会议审议通过了《关于取消监事会、变更注册资 本、修订<公司章程>并办理工商变更登记的议案》、2025 年 8 月 19 日召开公司 2025 年第三次临时股东大会审议通过《关于取消监事会、变更注册资本、修订< 公司章程>并办理工商变更登记的议案》，具体内容详见公司于 2025 年 8 月 2 日在上海证券交易所网站（www.sse.com.cn）披露的《广东嘉元科技股份有限公 司关于取消监事会、变更注册资本、修订<公司章程>并办理工商变更登记的公 ...

Core Viewpoint - The strategic investment of 500 million yuan by Jia Yuan Technology in En Da Tong marks a significant move into the rapidly growing optical module sector, reflecting the transformation anxiety of traditional manufacturing and the capital's pursuit of hard technology under the AI infrastructure wave [1][5]. Group 1: Optical Module Sector - The global optical module market has grown from 77.5 billion yuan in 2020 to an estimated 126.7 billion yuan in 2024, with a compound annual growth rate of 13.1%, projected to exceed 295.4 billion yuan by 2029 [2]. - En Da Tong, established in 2017, has quickly entered the market with high-speed optical modules and active/passive devices, achieving revenues of 1.477 billion yuan and a net profit of 97.94 million yuan in 2024, with 2025 H1 revenues nearing 1.316 billion yuan and net profits reaching 121 million yuan [2]. Group 2: Jia Yuan Technology's Transformation - Jia Yuan Technology, a leader in lithium battery copper foil, has faced challenges such as industry overcapacity and intensified price wars, leading to a significant loss in net profit in 2024 [3]. - The investment in En Da Tong is seen as a critical strategy for Jia Yuan Technology to tap into the growth potential of the optical module sector, leveraging synergies in customer base, product offerings, and supply chain integration [3]. - The collaboration is expected to enhance financial performance, with En Da Tong's original shareholders committing to a minimum net profit of 143 million yuan in 2025, providing Jia Yuan Technology with a safeguard for its investment [3]. Group 3: Industry Insights - The case of Jia Yuan Technology illustrates a new paradigm for traditional manufacturing transformation, emphasizing the importance of strategic equity investments to enter high-growth sectors while maintaining core business operations [5]. - This approach allows companies to mitigate the risks associated with direct transformation and share in industry benefits through financial investments, highlighting the shift from product-centric competition to ecosystem-based competition in the AI era [5].

Group 1 - The core point of the news is that 嘉元科技 (Jia Yuan Technology) experienced a stock decline of 5.14%, with a current share price of 29.13 yuan, a trading volume of 1.042 billion yuan, a turnover rate of 7.69%, and a total market capitalization of 12.416 billion yuan [1] - 嘉元科技 is based in Guangdong Province and was established on September 29, 2001. The company was listed on July 22, 2019, and its main business involves the research, production, and sales of various high-performance electrolytic copper foils. The revenue composition is as follows: lithium battery copper foil accounts for 83.77%, other income 12.64%, and standard copper foil 3.58% [1] Group 2 - From the perspective of fund holdings, 华宝基金 (Huabao Fund) has one fund heavily invested in 嘉元科技. The 华宝量化选股混合发起式A (017715) fund held 19,000 shares in the second quarter, accounting for 1.2% of the fund's net value, making it the seventh-largest holding. The estimated floating loss today is approximately 30,000 yuan [2] - The 华宝量化选股混合发起式A (017715) fund was established on February 20, 2023, with a current scale of 21.4706 million yuan. Year-to-date, it has achieved a return of 21.88%, ranking 3379 out of 8180 in its category; over the past year, it has returned 49.4%, ranking 2428 out of 7978; and since inception, it has returned 29.89% [2] Group 3 - The fund manager of 华宝量化选股混合发起式A (017715) is 徐林明 and 喻银尤. As of the report, 徐林明 has a cumulative tenure of 15 years and 345 days, with a total fund asset size of 1.618 billion yuan. His best fund return during the tenure is 87.24%, while the worst is -43.03%. 喻银尤 has a cumulative tenure of 3 years and 63 days, with a total fund asset size of 491 million yuan. His best fund return during the tenure is 29.89%, and the worst is 9.5% [3]

Summary of Key Points from the Conference Call Company Overview - **Company**: 嘉元科技 (Jiayuan Technology) - **Industry**: Lithium battery copper foil and AI computing materials Core Insights and Arguments 1. **Production Capacity Expansion**: Jiayuan Technology's lithium battery copper foil production capacity is rapidly expanding, expected to reach 140,000 to 150,000 tons this year, with a target to increase the proportion of medium and high-strength products to 60% by 2026 [2][3][16] 2. **International Market Expansion**: The company is actively expanding into overseas markets, having entered South Korea, Europe, North America, and Southeast Asia, where processing fees are over 50% higher than domestic rates, significantly enhancing profit margins [2][3][12] 3. **Solid-State Battery Copper Foil**: Jiayuan Technology is the only domestic company capable of mass supplying copper foil for solid-state batteries, targeting a market share of over 20% by 2030, with expected shipments of over 5,000 tons [2][4][16] 4. **AI Computing Sector**: The company is investing in high-end PCB copper foil and precision copper wire for the AI computing sector, having developed HVLP and LTF high-end PCB copper foils and acquired EnDatong to enter the high-speed copper cable market [2][5][11] 5. **Revenue and Profit Projections**: EnDatong is expected to generate over 2.5 billion yuan in profit in 2024, with Jiayuan Technology's revenue projected to exceed 5 billion yuan next year [2][10][16] 6. **Tariff Mitigation Strategies**: To address the 75% tariff imposed by the U.S., the company plans to establish a sorting and packaging plant in Hungary and a duty-free production base in Central Asia, with an initial capacity of 20,000 tons [3][12] 7. **Market Demand Growth**: Domestic demand for lithium battery copper foil is expected to grow significantly, with projections of over 300 million tons by 2030, reflecting a compound annual growth rate of approximately 25% [3][13][16] 8. **Profit Margin Improvement**: The company anticipates a significant increase in profit margins due to the higher processing fees for medium and high-strength products, which are 20% to 40% higher than standard products [3][15] Additional Important Information 1. **Customer Base and Product Offerings**: EnDatong's main customers include Oracle, with a strong focus on 400G and 800G optical modules, and the capability to supply 1.6T optical modules [8][9] 2. **Future Growth Expectations**: Jiayuan Technology aims for a total revenue of over 150 billion yuan by 2026, with a target production capacity of 200,000 tons by 2027 [16][17] 3. **R&D and Product Validation**: The company has made progress in validating new products, with plans for small-scale production of high-end copper foil products expected to begin in the first half of next year [14][15] This summary encapsulates the key points discussed in the conference call, highlighting Jiayuan Technology's strategic initiatives, market positioning, and future growth prospects.