关于发行可转换公司债券购买资产并募集配套资金 暨关联交易的申报文件获得深圳证券交易所受理的 公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 湖南华菱线缆股份有限公司（以下简称"公司"）拟发行可转 换公司债券购买吴根红、江源持有的安徽三竹智能科技股份有限公 司 35%股权，并向华菱津杉（天津）产业投资基金合伙企业（有限 合伙）发行股份募集配套资金（以下简称"本次交易"）。 证券代码：001208 证券简称：华菱线缆 公告编号：2026-008 湖南华菱线缆股份有限公司 本次交易尚需获得深交所审核通过，并获得中国证券监督管理 委员会（以下简称"中国证监会"）作出同意注册的决定后方可实 施，最终能否通过深交所审核，并获得中国证监会同意注册及其时 间尚存在不确定性。公司将根据本次交易的进展情况，按照有关法 律法规要求及时履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 湖南华菱线缆股份有限公司董事会 2026 年 1 月 22 日 近日公司收到深圳证券交易所（以下简称"深交所"）出具的 《关于受理湖南华菱线缆股份有限公司发行可转换为股票的公司 债券购买 ...

关于发行可转换公司债券购买资产并募集配套资金 暨关联交易报告书（申报稿）修订说明的公告 湖南华菱线缆股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 湖南华菱线缆股份有限公司（以下简称"公司"）拟发行可转换 公司债券购买吴根红、江源持有的安徽三竹智能科技股份有限公司 35%股权，并向华菱津杉（天津）产业投资基金合伙企业（有限合伙） 发行股份募集配套资金（以下简称"本次交易"）。 公司于 2026 年 1 月 20 日收到深圳证券交易所出具的《关于受理 湖南华菱线缆股份有限公司发行可转换为股票的公司债券购买资产并 募集配套资金申请文件的通知》（深证上审〔2026〕13 号），并披露 了《湖南华菱线缆股份有限公司发行可转换公司债券购买资产并募集 配套资金暨关联交易报告书（草案）（申报稿）》（以下简称"重组 报 告 书 " ） 等 文 件 ， 具 体 内 容 详 见 公 司 于 巨 潮 资 讯 网 披 露 （www.cninfo.com.cn）的相关公告。 相较公司 2025 年 12 月 17 日披露的《湖南华菱线缆股份有限公司 发行可转换公司债券购买 ...

Core Viewpoint - Hualing Cable announced plans to issue convertible bonds to acquire a 35% stake in Anhui San Zhu Intelligent Technology Co., Ltd. from Wu Genhong and Jiang Yuan, while also raising matching funds through a share issuance to Hualing Jingshan (Tianjin) Industrial Investment Fund Partnership (Limited Partnership) [1] Group 1 - The company received a notification from the Shenzhen Stock Exchange on January 20, 2026, regarding the acceptance of application documents and the disclosure of the restructuring report and other documents [1] - The restructuring report has been supplemented and revised in several chapters, including major matters and major risk warnings, compared to the content disclosed on December 17, 2025, but there is no impact on the transaction plan [1]

Core Viewpoint - Hualing Cable (001208.SZ) announced the termination of its acquisition of Hunan Xingxin Aerospace New Materials Co., Ltd. after nearly 10 months of planning, leading to a significant drop in its stock price [2][10]. Group 1: Acquisition Details - Hualing Cable's acquisition plan for Xingxin Aerospace was seen as a substantial move in the commercial aerospace sector, given Xingxin's strong background in high-temperature resistant materials used in major Chinese space missions [3][11]. - The termination was due to unresolved differences in key terms such as valuation and payment methods, despite ongoing negotiations [4][12]. - Analysts suggest that such discrepancies are common in emerging industries like commercial aerospace and semiconductors, emphasizing the need for better communication and flexible payment structures to mitigate risks [4][12]. Group 2: Market Reaction - Following the acquisition termination, Hualing Cable's stock price fell to 24.11 yuan, a 10% drop, with a further decline to 22.86 yuan the next trading day [5][13]. - Prior to the announcement, Hualing Cable's stock had seen significant gains, including a 60% increase over a short period, reaching a historical high of 31.90 yuan [5][13]. Group 3: Financial Performance - Hualing Cable has shown stable revenue growth, with total revenue increasing from 2.543 billion yuan in 2021 to 4.158 billion yuan in 2024, and a net profit rebound in 2024 to 109 million yuan, up 26.1% year-on-year [6][14]. - However, the company's profitability has faced pressure, with gross profit margin declining from 18.44% in 2021 to 11.58% in the first three quarters of 2025 [6][14]. Group 4: Future Prospects - Despite the acquisition's failure, Hualing Cable remains committed to exploring opportunities in the commercial aerospace sector and has plans for further acquisitions to optimize its industry layout [7][8][15]. - The company has already engaged in another acquisition, planning to acquire a 70% stake in Anhui San Zhu Intelligent Technology Co., Ltd. through cash and convertible bonds [8][15].

Market Overview - As of January 21, the Shanghai Composite Index closed at 4116.94 points, up by 3.29 points, with a growth rate of 0.08% [1] - The Shenzhen Component Index closed at 14255.13 points, increasing by 99.50 points, representing a growth rate of 0.70% [1] - The ChiNext Index closed at 3295.52 points, rising by 17.54 points, with a growth rate of 0.54% [1] High Turnover Stocks - A total of 80 A-shares had a turnover rate exceeding 20% on this day, with Aisheren reaching a turnover rate of over 50% [1] - The stock Aisheren had a closing price of 44.04 yuan, with a turnover rate of 78.23% and a significant increase of 175.59% [1] - Other notable stocks with high turnover rates include: - Nabai Chuan: Closing price 86.26 yuan, turnover rate 44.53%, increase of 9.87% [1] - Guangdian Electric: Closing price 6.09 yuan, turnover rate 44.40%, increase of 9.93% [1] - Jintaiyang: Closing price 39.13 yuan, turnover rate 44.16%, increase of 19.96% [1] Additional High Turnover Stocks - Other stocks with notable turnover rates include: - Blue Arrow Electronics: Closing price 36.75 yuan, turnover rate 43.18%, increase of 2.45% [1] - Sanbian Technology: Closing price 21.06 yuan, turnover rate 41.55%, decrease of 8.03% [1] - Hongbaoli: Closing price 9.59 yuan, turnover rate 39.79%, increase of 9.98% [1] - The stock with the highest turnover rate in the second list is Tai Li Technology, with a turnover rate of 28.52% and an increase of 6.32% [2] Summary of Notable Stocks - The stock with the highest turnover in the third list is Tian Di Online, with a turnover rate of 22.08% and an increase of 10.01% [3] - Other significant stocks include: - New Henghui: Closing price 85.76 yuan, turnover rate 22.04%, increase of 2.22% [3] - Jiangtian Chemical: Closing price 31.56 yuan, turnover rate 22.01%, increase of 4.12% [3]

格隆汇1月21日丨华菱线缆(001208.SZ)在投资者互动平台表示，公司暂无进入spaceX供应链的计划。 ...

格隆汇1月21日丨华菱线缆(001208.SZ)在投资者互动平台表示，公司暂无与马斯克旗下相关公司业务。 ...

Core Viewpoint - Hualing Cable (001208.SZ) announced the termination of its acquisition of Hunan Xingxin Aerospace New Materials Co., Ltd. after nearly 10 months of planning, leading to a significant drop in its stock price [2][4]. Group 1: Acquisition Details - Hualing Cable's acquisition plan for Xingxin Aerospace was seen as a substantial move in the commercial aerospace sector, given Xingxin's role as a key supplier of high-temperature resistant materials for various space missions [3][4]. - The termination was due to unresolved differences in key terms such as valuation and payment methods, despite ongoing negotiations [4][5]. - Analysts suggest that such valuation and payment discrepancies are common in emerging industries like commercial aerospace and semiconductors, highlighting the need for better communication and flexible payment structures [4][6]. Group 2: Market Reaction - Following the announcement, Hualing Cable's stock price fell to 24.11 yuan, a 10% drop, and opened at 22.86 yuan the next day, reflecting a 5.18% decrease [5]. - Prior to the acquisition's termination, Hualing Cable's stock had seen significant gains, with a 60% increase over a short period, reaching a high of 31.90 yuan [5][6]. - Despite the recent decline, the stock price remains 78.59% higher than its closing price of 13.50 yuan on December 10, 2025 [5]. Group 3: Financial Performance - Hualing Cable's total revenue has shown stable growth, increasing from 2.543 billion yuan in 2021 to 4.158 billion yuan in 2024, with a net profit of 109 million yuan in 2024, up 26.1% year-on-year [5][6]. - For the first three quarters of 2025, total revenue reached 3.376 billion yuan, an 8.6% increase year-on-year, with a net profit of 92 million yuan, up 6.7% [6]. - The company's gross profit margin has declined from 18.44% in 2021 to 11.58% in the first three quarters of 2025, indicating pressure on profitability [6]. Group 4: Future Prospects - Despite the acquisition's failure, Hualing Cable remains committed to exploring opportunities in the commercial aerospace sector and has plans for further acquisitions [2][7]. - The company has already established a presence in the aerospace field, providing specialized cables for various aerospace applications [7][8]. - Hualing Cable has announced another acquisition plan to purchase 70% of Anhui San Zhu Intelligent Technology Co., Ltd., indicating ongoing expansion efforts [8].

人民财讯1月21日电，华菱线缆（001208）1月21日在互动平台表示，公司暂无进入SpaceX供应链的计 划。 ...

Investment Rating - The report does not explicitly state an investment rating for the industry. Core Insights - The demand for satellite internet networking is urgent, and space computing opens new growth opportunities. The construction of satellite internet networks is driven by strong demand due to the advantages of wide coverage, strong disaster resistance, and rapid deployment. The International Telecommunication Union (ITU) has established principles for satellite frequency and orbit usage, leading to a competitive race for low Earth orbit resources. The construction and launch of satellite constellations in China are accelerating, with a significant gap compared to the US [4][16]. - Space computing is leading to increased demand for satellites. The traditional model of "ground computing" is evolving to "space computing," with satellites equipped with AI chips and edge computing modules to process data in orbit, significantly reducing transmission delays and processing times. Major companies are investing in space computing infrastructure, which is expected to drive the demand for satellites [17][19]. - Solar wings are the only efficient and long-term energy supply solution for near-Earth commercial space. Solar wings account for approximately 12%-24% of the satellite's value, and their area is continuously increasing, which enhances the overall power supply capacity of satellites. The transition from rigid to flexible solar wings is a key trend, with different technological routes being adopted in China and the US [4][28][38]. Summary by Sections Satellite Internet Networking - The urgent need for satellite internet networking is driven by the rapid release of rigid application demands in communication, navigation, and remote sensing. The construction of satellite internet networks is becoming increasingly critical due to limited low Earth orbit resources and the competitive landscape [11][16]. - The ITU's "first come, first served" principle has intensified the competition for satellite orbital resources, with China lagging in the completion rate of its satellite constellations compared to the US [16][18]. Space Computing - Space computing is transforming satellite demand by embedding AI capabilities into satellite systems, allowing for in-orbit data processing and reducing the need for ground-based data transmission. This shift is expected to significantly enhance the capabilities and applications of satellites [19][22]. Solar Wings - Solar wings are essential for providing continuous power to satellites, with their value accounting for a significant portion of the satellite's overall worth. The area of solar wings is increasing, which is expected to enhance the power supply capabilities of satellites [28][30]. - The transition from rigid to flexible solar wings allows for greater power generation efficiency and is particularly suited for high-power and multi-satellite launch scenarios. The flexible solar wings can achieve a higher power-to-weight ratio and better space utilization [38][45]. Technology Routes - There are notable differences in the solar wing battery technology routes between China and the US. The US primarily uses silicon solar cells due to their lower costs and established supply chains, while China is exploring gallium arsenide cells for their higher power-to-weight ratios and efficiency [51][62]. - Gallium arsenide cells are being actively explored for cost reduction, and perovskite cells are emerging as a potential next-generation solution for solar wings due to their low cost and high efficiency [65][69].