Core Viewpoint - The lithium battery copper foil industry is experiencing a rebirth driven by cost reduction and technological innovation after a challenging period of losses over the past two years [3][4]. Industry Overview - From 2014 to 2023, lithium battery copper foil sales surged from less than 50,000 tons to nearly 500,000 tons, with total industry capacity increasing by over 120% from 2022 to 2023 due to a production expansion initiated in 2020 [3][5]. - In 2023, China's lithium battery copper foil production capacity reached 950,000 tons, with a total electrolytic copper foil capacity of 1,563,000 tons per year [5]. Financial Performance - Major listed companies in the copper foil sector faced significant losses in 2024, with losses ranging from 84 million yuan to 352 million yuan [4][6]. - The overall product gross margin for the lithium battery copper foil sector plummeted from 20% in previous years to 4.84% in 2023, and further down to 0.14% in 2024 [6]. Recovery Signs - In Q1 2025, six out of the top ten listed companies in the copper foil sector reported positive net profit growth, indicating a potential turning point for the industry [7]. - Factors contributing to the recovery include cost reduction through optimized processes and an increase in the proportion of high-value-added products [4][7]. Market Dynamics - The market is transitioning towards thinner copper foils, with 6-micron copper foil currently being the mainstream product, while demand for even thinner products like 4.5-micron and 3-micron foils is increasing [4][11]. - The processing fee for lithium battery copper foil peaked in April 2022 but has since declined significantly, with expectations of stabilization in the near future [5][10]. Future Outlook - The industry anticipates a gradual improvement in supply-demand dynamics as low-end capacity is phased out and market consolidation occurs [6][10]. - The market for ultra-thin copper foils (less than 6 microns) is expected to grow, with projections indicating that their market share could rise from 15% to 30-40% by the end of 2025 [11][12].

Core Viewpoint - The article highlights the advancements and strategic direction of Guangdong Jiayuan Technology Co., Ltd. in the high-end copper foil industry, emphasizing its focus on technology development and market expansion, particularly in the context of solid-state battery production and international market penetration [2][3][7]. Group 1: Company Overview - Guangdong Jiayuan Technology is located in the mountainous region of Meizhou, Guangdong, and specializes in the production of high-end copper foil for various applications, including batteries and electronics [1]. - The company has transitioned from relying on imported technology to developing its own core technologies in the copper foil sector, achieving significant milestones in producing ultra-thin copper foils [3][4]. Group 2: Product Development and Market Demand - Jiayuan Technology has successfully developed ultra-thin copper foils, with 6-micron copper foil becoming a mainstream product, and has achieved mass production of 5-micron and 4.5-micron variants [4]. - The company reported a 15.57% increase in copper foil production in 2024, reaching 67,000 tons, with a growing proportion of ultra-thin copper foils that command a 30% higher processing fee compared to standard products [5]. - The demand for copper foil is driven by the rapid growth of the new energy and storage industries, with the company focusing on product innovation to meet the specific needs of electric vehicles and energy storage systems [5][6]. Group 3: Financial Performance - Jiayuan Technology's revenue for 2024 was 6.522 billion yuan, a year-on-year increase of 31.27%, while the first quarter of 2025 saw revenue of 1.981 billion yuan, a remarkable 113% increase compared to the same period last year [3][5]. Group 4: Strategic Direction and Future Outlook - The company aims to increase its overseas revenue share to 30% within the next 3 to 5 years, with expectations of exporting over 10,000 tons of products by 2026 [7]. - Jiayuan Technology is committed to continuous innovation and collaboration with research institutions to develop advanced copper foil technologies, positioning itself for future growth in a competitive landscape [5][7].

证券代码：688388 证券简称：嘉元科技 公告编号：2025-067 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 关于不向下修正"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。 重要内容提示： 截至 2025 年 6 月 17 日，广东嘉元科技股份有限公司（以下简称"公司"） 股价已触发"嘉元转债"转股价格向下修正条款。 经公司第五届董事会第四十八次会议审议，公司董事会决定本次不向下 修正"嘉元转债"的转股价格，同时在未来一个月内（即本公告披露日至 2025 年 7 月 17 日）如再次触发可转换公司债券转股价格向下修正条款的，亦不提出 向下修正方案。在此期间之后（自 2025 年 7 月 18 日起重新计算），若再次触发 "嘉元转债"转股价格向下修正条款，届时公司董事会将再次召开会议决定是否 行使"嘉元转债"的转股价格向下修正权利。 2、因公司实施 2021 年度权益分派方案，自 2022 年 5 月 6 日起转股价格调 整为 78.03 元/股，具体内容详见公司于 ...

| 证券代码：688388 | 证券简称：嘉元科技 | 公告编号：2025-066 | | --- | --- | --- | | 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"预计满足转股价格修正条件的 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： 转股价格：41.88 元/股 转股期限：2021 年 9 月 1 日至 2027 年 2 月 22 日 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》规定，本次触发转股价格修正条件的期间从 2025 年 5 月 27 日起算。截至 2025 年 6 月 10 日，公司股票已有 10 个交易日的收盘价低于当期转股价格（41.88 元/股）的 85%（即 35.60 元/股），预计触发转股价格向下修正条件。若未来触 发转股价格向下修正条款，公司董事会将召开会议决定是否行使"嘉元转债"转 股价格的向下修正权利。 一、可转债上市发行概况 经中国证券监督管理委员会（以下简称"中 ...

嘉元科技688388 时间: 2025年6月10日星期二 50.94分综合得分 较强 趋势方向 主力成本分析 17.65 元 当日主力成本 17.68 元 5日主力成本 周期内涨跌停 过去一年内该股 17.37 元 20日主力成本 18.14 元 60日主力成本 涨停 0次 次 17.88 中期压力位 16.65 北向资金数据 持股量539.87万股 占流通比1.26% 昨日净买入-70.70万股 昨日增仓比-0.166% 5日增仓比-0.314% 20日增仓比-0.042% 跌停 1 技术面分析 17.88 短期压力位 17.56 短期支撑位 中期支撑位 目前短线趋势不慎明朗，静待主力资金选择方向； 目前中期趋势不慎明朗，静待主力资金选择方向 K线形态 暂无特殊形态 资金流数据 2025年06月10日的资金流向数据方面 主力资金净流出1316.10万元 占总成交额-8% 超大单净流入325.79万元 大单净流出1641.89万元 散户资金净流出105.75万 关联行业/概念板块 电池 0.39%、固态电池 -0.24%、锂电池 -0.57%、新材料 -0.66%等 财务数据 最近的财报数据显示，该股于202 ...

| 证券代码：688388 | 证券简称：嘉元科技 | 公告编号：2025-066 | | --- | --- | --- | | 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"预计满足转股价格修正条件的 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： 转股价格：41.88 元/股 转股期限：2021 年 9 月 1 日至 2027 年 2 月 22 日 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》规定，本次触发转股价格修正条件的期间从 2025 年 5 月 27 日起算。截至 2025 年 6 月 10 日，公司股票已有 10 个交易日的收盘价低于当期转股价格（41.88 元/股）的 85%（即 35.60 元/股），预计触发转股价格向下修正条件。若未来触 发转股价格向下修正条款，公司董事会将召开会议决定是否行使"嘉元转债"转 股价格的向下修正权利。 一、可转债上市发行概况 经中国证券监督管理委员会（以下简称"中 ...

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。 近日，国家知识产权局发布《关于第二十五届中国专利奖授奖的决定》(国知发运字〔2025〕20号)，广 东嘉元科技股份有限公司（以下简称"公司"）申报的"二次电池用低翘曲电解铜箔、制造方法"及"一种 普强型锂离子电池用极薄电解铜箔的制备方法"共两项发明专利荣获中国专利优秀奖。"一种普强型锂离 子电池用极薄电解铜箔的制备方法"还在2024年获得了广东省专利奖金奖，这是对公司研发创新和知识 产权工作的充分认可，同时也是公司在知识产权领域的新突破。相关专利信息情况如下： ■ 广东嘉元科技股份有限公司 董事会 2025年6月9日 本次获奖是对公司研发创新能力和知识产权管理水平的充分肯定，同时提升了公司在铜箔行业中的影响 力，对加速新材料领域的技术突破和新能源电池产业的进步具有推动作用。未来，公司将继续推动生产 技术研发创新和企业知识产权建设，加快研发成果转化，不断提高企业核心竞争力。 此次获奖事项不会对公司本年度财务状况产生重大影响，敬请广大投资者注意投资风险。 特此公告。 中国专利奖是 ...

| 证券代码：688388 | 证券简称：嘉元科技 | 公告编号：2025-065 | | --- | --- | --- | | 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 关于自愿披露获得第二十五届中国专利优秀奖的公告 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。 近日，国家知识产权局发布《关于第二十五届中国专利奖授奖的决定》(国 知发运字〔2025〕20 号)，广东嘉元科技股份有限公司（以下简称"公司"）申 报的"二次电池用低翘曲电解铜箔、制造方法"及"一种普强型锂离子电池用极 薄电解铜箔的制备方法"共两项发明专利荣获中国专利优秀奖。"一种普强型锂 离子电池用极薄电解铜箔的制备方法"还在 2024 年获得了广东省专利奖金奖， 这是对公司研发创新和知识产权工作的充分认可，同时也是公司在知识产权领域 的新突破。相关专利信息情况如下： | 专利号 | 专利名称 | 专利权人 | | --- | --- | --- | | ZL202010364561.5 | 二次电池用低翘曲电解铜箔 ...

Core Insights - The ultrafiltration membrane industry is experiencing significant growth driven by increasing water quality demands and environmental awareness, with the market size in China projected to reach 6.8 billion yuan in 2024, representing a year-on-year growth of 9.68% [1][12]. Industry Overview - Ultrafiltration membranes are polymer separation membranes with a pore size typically ranging from 0.001 to 0.1 microns, capable of retaining particles larger than 10 nanometers while allowing water and small solutes to pass through [1][4]. - The industry has evolved through three main stages: initial exploration in the 1970s-80s, industrial breakthroughs in the 1990s-early 2000s, and rapid growth from the early 21st century to present [4][5]. Market Dynamics - The demand for ultrafiltration membranes is increasing in municipal water supply, wastewater treatment, and seawater desalination, as well as in the food and beverage and biopharmaceutical sectors [1][12]. - The urban sewage treatment capacity in China reached 234 million cubic meters per day in 2023, a year-on-year increase of 4.80%, highlighting the growing need for effective wastewater treatment solutions [10]. Industry Chain - The ultrafiltration membrane industry supply chain includes upstream raw materials (organic and inorganic materials), midstream manufacturing, and downstream applications in various sectors such as wastewater treatment, municipal water purification, and food and beverage [8]. Key Players - Major companies in the ultrafiltration membrane sector include Hainan Lifespan, Le Pure Biotechnology, and Beijing Sino, which are leveraging technological advancements to enhance their market positions [14][16]. - Hainan Lifespan has established itself as a leader with a production capacity of 30 million square meters annually, accounting for nearly half of global production [14][16]. Development Trends - The industry is witnessing technological innovations, such as Le Pure's Extreme™ PVDF membrane, which achieves a 99.9999% microbial retention rate, and advancements in membrane materials that enhance performance and sustainability [20][21]. - Market demand is shifting towards industrial wastewater treatment, municipal water supply improvements, and home water purification systems, with increasing consumer preferences for selective filtration products [21][22]. - Chinese ultrafiltration membrane companies are expanding globally, with initiatives to establish overseas production bases and participate in international standard-setting, enhancing their competitive edge [23].

Core Viewpoint - The article discusses recent developments in convertible bonds and credit ratings of various companies, highlighting changes in credit rating agencies and upcoming bond offerings [1]. Group 1: Convertible Bonds - Hengshuai Convertible Bond will be available for subscription on May 29 [1]. - The company Jiayuan Technology plans to change the credit rating agency for its convertible bond from Dongfang Jincheng to Guangzhou Pushe, effective April 28, 2025 [1]. - The company has decided to stop providing rating materials to Dongfang Jincheng for the Jiayuan Convertible Bond, which will no longer receive follow-up tracking ratings from this agency [1]. - The credit rating for Shanshi Convertible Bond has been downgraded to A by United Ratings [1]. - The convertible bonds for Lege, Haishun, Lanfan, and Qifan will not undergo any adjustments [1]. Group 2: Share Transactions - Hangyu Technology intends to acquire 2% of the company's shares from its controlling shareholder through a block trade [1].