（广东省深圳市福田区中心三路8号卓越时代广场（二期）北座） 证券代码：001208 证券简称：华菱线缆 湖南华菱线缆股份有限公司 HUNAN VALIN WIRE & CABLE CO.,LTD. （注册地址：湘潭市高新区建设南路 1 号） 2023年度向特定对象发行A股股票 募集说明书 （注册稿） 保荐人（主承销商） 1-1-1 重大事项提示 公司特别提请投资者注意，在作出投资决策之前，务必仔细阅读本募集说明书正文 内容，并特别关注以下重要事项。 1、本次向特定对象发行股票相关事宜已经公司第五届董事会第十二次会议、2023 年第三次临时股东大会审议通过，已取得湖南省国资委批复，已获得深圳证券交易所审 核通过，已经中国证监会同意注册。 二〇二五年九月 声 明 本公司及全体董事、监事、高级管理人员承诺募集说明书及其他信息披露资料不存 在任何虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性及完整性承担相应的 法律责任。 公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财务会计资 料真实、完整。 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对申请文件及 所披露信息的真实性、准确性、 ...

湖南华菱线缆股份有限公司 关于向特定对象发行股票的募集说明书等 申请文件更新的公告 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"）向特定对象 发行股票的申请已收到中国证券监督管理委员会（以下简称"中国 证监会"）出具的《关于同意湖南华菱线缆股份有限公司向特定对 象发行股票注册的批复》（证监许可〔2025〕1508 号），具体内容 详见公司于 2025 年 7 月 24 日在《中国证券报》《证券时报》及巨 潮资讯网（www.cninfo.com.cn）上披露的《关于向特定对象发行 股票申请获得中国证监会同意注册批复的公告》（公告编号： 2025-049）。 证券代码：001208 证券简称：华菱线缆 公告编号：2025-060 2025 年 9 月 9 日 鉴于公司于 2025 年 8 月 22 日披露了《2025 年半年度报告》， 根据《监管规则适用指引——发行类第 7 号》等相关要求，公司会 同相关中介机构对募集说明书等申请文件中涉及的财务数据及其 他变动事项进行了同步更新，具体内容详见公司于同日在巨潮资讯 网（ ...

中信证券股份有限公司 关于 湖南华菱线缆股份有限公司 2023 年度向特定对象发行 A 股股票 之 发行保荐书 保荐人（主承销商） 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 二〇二五年九月 | 目 录 1 | | --- | | 声 明 2 | | 第一节 本次证券发行基本情况 3 | | 一、保荐人名称 3 | | 二、保荐代表人、项目协办人及其他项目组成员情况 3 | | 三、本次保荐的发行人证券发行的类型 4 | | 四、发行人情况 4 | | 五、保荐人与发行人存在的关联关系 10 | | 六、保荐人内部审核程序和内核意见 11 | | 第二节 保荐人承诺事项 13 | | 第三节 关于有偿聘请第三方机构和个人等相关行为的核查 14 | | 第四节 对本次证券发行上市的推荐意见 15 | | 一、本次证券发行决策程序 15 | | 二、符合《公司法》规定的相关条件 16 | | 三、符合《证券法》规定的相关条件 16 | | 四、符合《注册管理办法》规定的相关条件 17 | | 五、本次募集资金使用相关情况 20 | | 六、发行人存在的主要风险 26 | | 七、对发行人发展前景的 ...

Core Viewpoint - Hualing Cable (001208) reported a revenue increase of 12.35% year-on-year for the first half of 2025, reaching 2.19 billion yuan, while net profit rose by 4.74% to 63.64 million yuan [1] Financial Performance Summary - Total revenue for the first half of 2025 was 2.19 billion yuan, up from 1.95 billion yuan in the same period of 2024, reflecting a growth of 12.35% [1] - Net profit attributable to shareholders increased to 63.64 million yuan, compared to 60.76 million yuan in the previous year, marking a 4.74% rise [1] - The second quarter revenue was 1.19 billion yuan, showing a year-on-year increase of 13.18%, while net profit for the same quarter was 31.48 million yuan, down 21.47% [1] - The gross margin improved to 12.19%, up 0.78% year-on-year, while the net margin decreased to 2.91%, down 6.78% [1] - Total operating expenses (selling, administrative, and financial) amounted to 123 million yuan, accounting for 5.63% of revenue, a decrease of 8.15% year-on-year [1] - Earnings per share rose to 0.12 yuan, a 9.09% increase from the previous year [1] Cash Flow Analysis - Net cash flow from operating activities increased by 430.13%, attributed to higher cash inflows from sales and increased bill settlements [2] - Net cash flow from investing activities rose by 129.84%, due to the redemption of large time deposits [2] - Net cash flow from financing activities decreased significantly by 582.38%, primarily due to reduced bank borrowings compared to the previous period [2] - The net increase in cash and cash equivalents was up by 105.25%, driven by increased operating cash flow and investment cash flow [2] Business Model Insights - The company's performance is primarily driven by research and marketing efforts, necessitating a thorough examination of the underlying factors behind these drivers [3] Financial Health Recommendations - Attention is advised on the company's cash flow situation, with a cash and cash equivalents to current liabilities ratio of only 26.07% and a three-year average operating cash flow to current liabilities ratio of 6.72% [4] - The company’s accounts receivable to net profit ratio has reached 1593.56%, indicating a significant level of receivables relative to profit [4]

Core Viewpoint - Hualing Cable reported a total revenue of 2.19 billion yuan for the first half of the year, marking a year-on-year growth of 12.35%, with a net profit of 63.64 million yuan, up 4.74% compared to the previous year [1] Group 1: Financial Performance - The company achieved a total revenue of 2.19 billion yuan, reflecting a year-on-year increase of 12.35% [1] - Net profit reached 63.64 million yuan, representing a growth of 4.74% year-on-year [1] Group 2: Business Strategy and Market Position - Hualing Cable emphasizes optimizing existing business and nurturing new business to stimulate market expansion [1] - The company has a sufficient order backlog, significantly increased compared to the same period last year, primarily from large state-owned enterprises [1] - The company has initiated multiple investment projects to expand capacity in response to business growth [1] Group 3: Production Capacity and Projects - The company’s production capacity is steadily being released, with listed fundraising projects completed [1] - The refinancing projects are expected to increase capacity by approximately 6-8 billion yuan per year, with total production capacity expected to reach about 24 billion yuan per year, generating a net profit of around 220 million yuan annually [1] - The Shaanxi Shenmu base is expected to be operational by the end of the year, potentially releasing an additional capacity of 6-10 billion yuan per year [1] Group 4: Market Opportunities - Hualing Cable has established 14 offices and is actively engaging with large-scale hydropower projects worth trillions [1] - The company has participated in several major hydropower projects and is recognized as a qualified supplier for China Power Construction and China Energy Engineering [2] - The company has secured contracts worth approximately 557 million yuan in nuclear power, electricity, mining, rail transit, and metallurgy sectors, accounting for 13.40% of the audited revenue for 2024 [2] Group 5: Future Development Strategy - The company aims to focus on three key areas: aerospace and integrated equipment, metallurgy and mining, and strategic emerging fields such as robotics control cables and high-performance data transmission lines [3]

Core Viewpoint - Hunan Huazhong Cable Co., Ltd. reported a revenue of approximately 2.19 billion yuan for the first half of 2025, reflecting a year-on-year growth of 12.35%, driven by demand in emerging markets and efforts in technological innovation and cost control [1][2] Financial Performance - The company achieved a net profit attributable to shareholders of approximately 63.64 million yuan, a year-on-year increase of 4.74% [1] - The net profit after deducting non-recurring gains and losses was about 54.36 million yuan, up 10.98% year-on-year [1] - Basic earnings per share stood at 0.12 yuan [1] Business Segments Growth - The special cable business generated revenue of 876 million yuan, marking a 15.23% increase year-on-year [1] - The power cable business reported revenue of 645 million yuan, with a year-on-year growth of 10.18% [1] - The electrical equipment cable business achieved revenue of 437 million yuan, reflecting a 13.05% increase year-on-year [1] Product Development and Innovation - The company has increased R&D investment, launching new products tailored to emerging market needs, including high-temperature and radiation-resistant cables for aerospace and high-conductivity, flexible cables for new energy vehicle charging [2] - In the first half of 2025, the company focused on R&D in new energy, wind power, mining, engineering machinery, marine, and aerospace sectors, executing 31 major R&D projects [2] - The company is advancing 16 new product development projects and 15 key improvement projects for existing products [2] Market Outlook and Strategy - Analysts noted that the company holds a strong competitive position in the specialized cable market, with growth in emerging sectors providing significant opportunities [2] - The demand for special cables is expected to continue growing due to national initiatives promoting new productive forces in aerospace, new energy, and rail transportation [2] - The company plans to enhance market expansion efforts, deepen its focus on the special cable market, and continue technological innovation and product upgrades to improve core competitiveness [2]

Group 1 - The board meeting of Hunan Hualing Cable Co., Ltd. was held on August 20, 2025, with all 9 directors present, and the meeting complied with legal and procedural requirements [1] - The company reported a net profit of 63.64 million yuan for the first half of 2025, representing a year-on-year increase of 4.74%, while the net profit excluding non-recurring items was 54.36 million yuan, up 10.98% [2][3] - The board approved the establishment of the sixth board of directors, which will consist of 9 members, including 6 non-independent directors and 3 independent directors, with a term of three years [2][3] Group 2 - The board approved the asset disposal proposal and the special report on the use of raised funds for the first half of 2025, both receiving unanimous support [4] - The company plans to implement a "Quality and Return Improvement" action plan aimed at enhancing quality management and shareholder returns, which aligns with the company's strategic development goals [4] - The company will hold its third extraordinary general meeting of shareholders on September 22, 2025, to discuss various proposals [4]

Group 1 - The meeting of the fifth supervisory board of Hunan Hualing Cable Co., Ltd. was held on August 20, 2025, with all three supervisors present, confirming compliance with relevant laws and regulations [1] - The supervisory board approved the company's 2025 semi-annual report, stating it accurately reflects the financial status and operational results for the first half of 2025, with no false records or significant omissions [1][2] - The supervisory board also agreed that the company has managed and utilized its raised funds in accordance with legal procedures, with no violations in the use of these funds [2] Group 2 - The voting results for the supervisory board's decisions were unanimous, with 3 votes in favor and no votes against or abstentions [2] - The company has published detailed reports regarding its semi-annual financial results and the management of raised funds on the Giant Tide Information Network [2]

Meeting Information - The company will hold its third extraordinary general meeting of shareholders in 2025 on September 22, 2025, at 14:30 [1] - The meeting will include both on-site voting and online voting through the Shenzhen Stock Exchange trading system and internet voting system [2][6] Voting Procedures - Shareholders can choose either on-site voting or online voting, but not both; if duplicate votes are cast, the first valid vote will be counted [2] - The online voting will be available from 9:15 to 15:00 on September 22, 2025 [1][2] Attendance and Registration - All shareholders registered with the China Securities Depository and Clearing Corporation Limited as of the close of trading on the registration date are entitled to attend the meeting [2] - Registration for the meeting will take place from September 18 to 19, 2025, at the company's securities department [5] Agenda Items - The meeting will review several proposals, including cumulative voting for the election of non-independent and independent directors [3][4] - Specific proposals will require a majority of the voting rights held by attending shareholders to pass [4] Additional Information - The company will provide detailed instructions for online voting and a power of attorney template for shareholders who wish to delegate their voting rights [6][8] - Contact information for inquiries regarding the meeting is provided, including phone and fax numbers [5]

Core Viewpoint - Hualing Cable reported a year-on-year increase in revenue and net profit for the first half of 2025, indicating positive growth trends in its financial performance [2] Financial Performance - The company's revenue for the first half of 2025 was approximately 2.19 billion yuan, representing a year-on-year increase of 12.35% [2] - The net profit attributable to shareholders was around 63.64 million yuan, showing a year-on-year increase of 4.74% [2] - Basic earnings per share were 0.12 yuan, reflecting a year-on-year increase of 9.09% [2]