风险提示：下游需求不及预期；技术推进不及预期等。 本报告的风险等级为中高风险。 本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 请务必阅读末页声明。 电子行业 超配 （维持） 覆铜板行业系列报告 深 度 高端铜箔及电子布需求加大，内资企业加速突破有望受益 2026 年 1 月 27 日 投资要点： 陈伟光 S0340520060001 电话：0769-22119430 邮箱： chenweiguang@dgzq.com.cn 电子行业指数走势 资料来源：东莞证券研究所，iFind 长共振 罗炜斌 SAC 执业证书编号： S0340521020001 电话：0769-22110619 邮箱： luoweibin@dgzq.com.cn AI对覆铜板提出更高要求，M8.5+需求有望增加。覆铜板电性能主要受 介电常数（Dk）、介电损耗（Df）影响，AI算力硬件对电性能要求进一 步提高。Rubin平台产品有望陆续采用M8.5+材料，部分环节可能会采用 更高端M9材料，覆铜板产品价值量将会大幅提升。同时覆铜板升规，也 将带动电子铜箔、电子布等原材料升级。 报 告 SAC ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688388 证券简称：嘉元科技 公告编号：2026-004 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"嘉元转债"预计满足赎回条件的提示性公告 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。 重要内容提示： ● 广东嘉元科技股份有限公司（以下简称"公司"）股票自(2026年1月12日至2026年1月26日已有10个交 易日的收盘价不低于"嘉元转债"当期转股价格的130%（即43.14元/股），若未来连续19个交易日内仍有 五个交易日公司股票收盘价格继续满足"不低于当期转股价格的130%（含130%）"条件时，将触发《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明书》（以下简称"《募集说明 书》"）中规定的有条件赎回条款。若触发条件，公司董事会有权决定按照债券面值加当期应计利息的 价格赎回全部或部分未转股的"嘉元转债"，公司将在满足可转债赎回条件的当日召开董事会，决定是否 行使上述赎回权限及相关事宜。 根据《上海证 ...

证券日报网讯 1月26日，嘉元科技发布公告称，公司股票自2026年1月12日至1月26日已有10个交易日收 盘价不低于"嘉元转债"当期转股价格33.18元/股的130%即43.14元/股，若未来19个交易日内再有5个交易 日满足该条件，将触发有条件赎回条款，公司可按债券面值加当期应计利息赎回全部或部分未转股"嘉 元转债"。 （文章来源：证券日报） ...

广东嘉元科技股份有限公司（以下简称"公司"）股票自(2026 年 1 月 12 日至 2026 年 1 月 26 日已有 10 个交易日的收盘价不低于"嘉元转债"当期转 股价格的 130%（即 43.14 元/股），若未来连续 19 个交易日内仍有五个交易日 公司股票收盘价格继续满足"不低于当期转股价格的 130%（含 130%）"条件时， 将触发《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明 书》（以下简称"《募集说明书》"）中规定的有条件赎回条款。若触发条件， 公司董事会有权决定按照债券面值加当期应计利息的价格赎回全部或部分未转 股的"嘉元转债"，公司将在满足可转债赎回条件的当日召开董事会，决定是否 行使上述赎回权限及相关事宜。 根据《上海证券交易所上市公司自律监管指引第 12 号——可转换公司债券》 的有关规定，公司可能触发可转换公司债券有条件赎回条款，现将相关情况公告 如下： 一、可转债上市发行概况 | 证券代码：688388 | 证券简称：嘉元科技 | 公告编号：2026-004 | | --- | --- | --- | | 转债代码：118000 | 转债简称：嘉元转债 | | ...

Group 1 - The core viewpoint of the articles highlights the optimistic outlook of fund managers on the technology sector, particularly in artificial intelligence, cloud computing, and robotics, as key investment directions for the upcoming years [1][3][12] - Fund managers are emphasizing the importance of risk management in the technology sector, which is characterized by high growth potential and volatility, advocating for diversified investment strategies [2][21] Group 2 - Fund manager Ren Jie focuses on global cloud computing investments, with a notable performance of the fund achieving a unit net value growth rate of 233.29% in 2025, ranking first among active equity funds [3][4] - The fund's latest quarterly report indicates a decrease in stock positions, with a stock market value proportion of 78.76%, down by 13 percentage points from the previous quarter [3][4] - The top ten holdings include companies like Shengyi Technology and Zhongji Xuchuang, with significant annual growth rates of 205.82% and 396.38% respectively [3][4] Group 3 - Fund manager Li Jin expresses a strong interest in artificial intelligence computing-related assets, focusing on sectors with the best growth potential, including technology, new energy, and pharmaceuticals [8][12] - The fund's top three holdings are Zhongji Xuchuang, Xinyi Technology, and Huamao Technology, with substantial increases in positions for companies like Dongshan Precision and Industrial Fulian [9][10] Group 4 - Fund manager Yan Siqian emphasizes the investment opportunities in manufacturing and low-carbon technologies, highlighting the importance of intelligent manufacturing and technological innovation for sustainable development [13][15] - The fund's top holdings include Wuzhou Xinchun and Zhenyu Technology, with significant increases in positions for companies like Beite Technology and Sili Technology [14][15] Group 5 - Fund manager Feng Ludan notes that the artificial intelligence industry is in the early stages of forming a bubble, suggesting a cautious approach to investment while monitoring technological advancements and business model validations [16][21] - The fund's latest report shows a stock position of 86.04%, with significant increases in holdings for companies like Huadian Technology and Tencent Holdings [18][19]

Group 1 - The core viewpoint of the news is that 嘉元科技 (Jia Yuan Technology) experienced a stock price increase of 5.4%, reaching 44.10 yuan per share, with a trading volume of 493 million yuan and a turnover rate of 2.69%, resulting in a total market capitalization of 18.798 billion yuan [1] - 嘉元科技 is located in Meizhou, Guangdong Province, and was established on September 29, 2001. It was listed on July 22, 2019. The company's main business involves the research, production, and sales of various high-performance electrolytic copper foils [1] - The revenue composition of 嘉元科技 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, 东兴基金 (Dongxing Fund) has one fund heavily invested in 嘉元科技. The 东兴数字经济混合发起A (Dongxing Digital Economy Mixed Fund A) held 71,400 shares in the third quarter, representing 5.22% of the fund's net value, ranking as the tenth largest holding [2] - The 东兴数字经济混合发起A fund was established on January 16, 2024, with a latest scale of 28.2888 million yuan. Year-to-date return is 0.64%, ranking 7764 out of 8844 in its category; the one-year return is 47.64%, ranking 2052 out of 8091; and since inception, the return is 66.12% [2] - The fund manager of 东兴数字经济混合发起A is 周昊 (Zhou Hao), who has been in the position for 2 years and 7 days, with total assets under management of 51.35 million yuan. The best fund return during his tenure is 69.25%, while the worst is 68.91% [2]

Core Viewpoint - As of January 16, a total of 167 stocks in the Shanghai and Shenzhen markets have experienced net financing inflows for five consecutive days or more, indicating strong investor interest in these stocks [1] Group 1: Stocks with Notable Financing Inflows - The stock with the longest consecutive net financing inflow is Shenwan Hongyuan, which has seen net inflows for 14 consecutive trading days [1] - Other stocks with significant consecutive net financing inflows include China Merchants Bank, Jiayuan Technology, Lens Technology, Songsheng Co., Kaisa Bio, Gansu Expressway, New Asia Electronics, and Huaten Hotel [1]

Group 1 - The core point of the article highlights the performance of the Zhongzheng 2000 ETF Enhanced (159556), which opened down 0.85% at 1.290 yuan on January 16 [1] - The fund's performance benchmark is the Zhongzheng 2000 Index return, managed by Ping An Fund Management Co., with a return of 30.45% since its establishment on December 27, 2023, and a return of 10.31% over the past month [1] Group 2 - The top holdings of the Zhongzheng 2000 ETF Enhanced include Huajian Group, which opened down 0.43%, Dekeli down 0.74%, Xuguang Electronics up 0.22%, Beihua Co. down 1.20%, and others showing mixed performance [1] - Notable stock movements include Electric Wind Power up 0.37%, Xinke Materials up 0.96%, Jiayuan Technology up 0.09%, Hongjing Technology down 2.49%, Yongding Co. up 1.03%, and Furui Electronics up 0.83% [1]

Core Viewpoint - The company is focusing on high-end and differentiated products in the PCB copper foil sector to meet the demands of emerging fields such as AI, computing power, and 5G [2] Group 1: Company Strategy - The company's development strategy in the PCB copper foil field emphasizes high-end and differentiated products, including high-frequency and high-speed copper foil, HDI copper foil, HVLP, DTH, and special functional copper foils [2] - The company is implementing a "produce one, reserve one, research one" strategy to accelerate the R&D and manufacturing of various high-performance electrolytic copper foil products [2] Group 2: Product Development and Achievements - The company has made technological breakthroughs in high-performance electronic circuit copper foils, including RTF, HTE, HVLP, DTH, and HDI copper foils [2] - The ultra-thin copper foil (UTF) for PCBs has entered mass production, and significant progress has been made in developing RTF/HVLP products for high-frequency and high-speed circuit and IC packaging applications [2] - RTF has passed certification testing by leading enterprises and is capable of mass production, while other products have completed laboratory validation and are undergoing testing with downstream customers [2]

证券日报网讯1月14日，嘉元科技在互动平台回答投资者提问时表示，公司在定期报告中对报告期末股 东人数及相关情况进行披露。 ...