特此公告。 证券代码：002130 证券简称：沃尔核材 公告编号：2026-006 深圳市沃尔核材股份有限公司董事会 深圳市沃尔核材股份有限公司 2026年1月31日 第八届董事会第三次会议决议公告 1 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 深圳市沃尔核材股份有限公司（以下简称"公司"）第八届董事会第三次会 议通知于2026年1月27日（星期二）以电话及邮件方式送达给公司9名董事。会议 于2026年1月30日（星期五）以通讯会议方式召开，会议应到董事9人，实到董事 9人，公司高管列席了本次会议。本次董事会的召开符合国家有关法律、法规和 《公司章程》的规定。本次会议由董事长周和平先生主持，以9票同意、0票反对、 0票弃权，审议通过了《关于确定公司H股全球发售（包括香港公开发售及国际 发售）及在香港联交所上市相关事宜的议案》。 同意关于公司 H 股全球发售及在香港联交所上市的相关安排，包括但不限于： （1）批准公司 H 股全球发售的相关安排；（2）批准刊发、签署符合相关法律法 规要求的招股说明书及其他全球发售的相关文件；（3）批准处理 H 股发行程序 及相关 ...

格隆汇1月30日丨沃尔核材(002130.SZ)在投资者互动平台表示，目前公司已拥有16台进口发泡芯线挤出 机，其中部分设备正有序安装调试，高速线整体产能已得到较大提升；2026年以来，最前沿数据中心需 求的高速线规格型号快速增加，公司正在大量增加绕包设备满足客户的需求。后续公司将结合市场需求 情况合理安排已调试好的设备投入使用。 ...

沃尔核材 20260129 摘要 沃尔核材 2025 年高速线缆营收超 10 亿元，同比增长近 300%，受益 于高速线缆结构提升，通信线缆板块毛利显著改善。预计 2026、2027 年高速线缆业务将保持较高增长，订单预期乐观，多个终端项目将在 2026 年一二季度落地。 公司产能处于动态提升阶段，预计 2026 年底有效产能达 50 亿元， 2027 年底达 70-80 亿元。目前产能利用率有提升空间，预计下半年将 大幅提升，全年 50 亿产能利用率可达 70%。 尽管 VR200 方案替代部分通缆，但 scale up 和 Kable trade 跳线需求 量大，通缆仍大量使用。下一代 Rubin Ultra 方案存在变数，铜缆在维 护成本和工业量产化方面具优势，通缆市场将长期占据优势。 港股 IPO 方面，公司更新财务数据，等待联交所反馈，并积极与重要机 构沟通，市场反响较好。成功发行后募集资金将加速公司重点业务发展。 各大终端厂商如谷歌、Meta、亚马逊对铜缆需求大，AIGC 项目拓展需 求可能占英伟达需求 50%以上，Meta 一个项目可能达到英伟达一半用 量。预计 2026 或 2027 年终端需 ...

整体来看，公司高速通信线业务的需求结构持续优化，客户基础不断拓宽，有助于提升业务稳定性并不 断丰富应用场景。 格隆汇1月30日丨沃尔核材(002130.SZ)近日在电话会议上表示，公司持续推进高速通信线业务的下游客 户拓展，相关产品面向多类下游客户及应用场景，在不同系统架构和产品配置中均存在应用需求。结合 订单分布及客户推进项目情况来看，公司高速通信线业务的需求较为广泛和多元，不同类型终端客户对 相关产品均形成了一定规模的需求。2026年以来，最前沿数据中心需求的高速线规格型号快速增加，公 司正在大量增加绕包设备满足客户的需求。 ...

Core Viewpoint -沃尔核材 is expected to achieve significant profit growth in 2025, with projected net profit reaching between 1.1 billion to 1.18 billion yuan, marking a year-on-year increase of 29.79% to 39.22% [1][2] Financial Performance - For the first three quarters of 2025,沃尔核材 reported revenue of 6.082 billion yuan, a year-on-year increase of 26.17%, and a net profit of approximately 822 million yuan, up 25.45% [2] - The projected net profit for the fourth quarter of 2025 is estimated to be between 278 million to 358 million yuan, reflecting a growth of 44.5% to 86.1% [2] Historical Performance - From 2019 to 2024,沃尔核材's net profit has shown consistent growth, with figures of 210 million, 396 million, 553 million, 615 million, 700 million, and 848 million yuan respectively, indicating a strong upward trend [3] - The company is set to achieve its highest annual net profit in 2025, surpassing the 1 billion yuan mark for the first time [3] Business Segments - The demand for electronic materials, communication cables, power products, and new energy vehicle products has been on the rise, contributing to revenue growth across all business segments [4] - The communication cable and new energy vehicle segments have experienced particularly rapid growth due to increased demand from downstream industries and supportive government policies [4] R&D and Innovation - As of June 30, 2025,沃尔核材 holds over 2,100 valid patents, including more than 500 invention patents, and has consistently invested over 300 million yuan in R&D annually [4] - R&D expenses for the first three quarters of 2025 reached 326 million yuan, accounting for 5.35% of revenue, reflecting the company's commitment to innovation [4] Global Expansion -沃尔核材 is accelerating its globalization strategy, with plans to invest up to 1 billion yuan in building production bases in Vietnam and Malaysia to enhance its international presence [7][8] - The company is preparing for its upcoming IPO in Hong Kong, which will allow it to become a dual-listed company (A+H) and raise funds for global business expansion and capacity enhancement [8]

格隆汇1月30日丨沃尔核材(002130.SZ)近日在电话会议上表示，2025 年度，受益于数据通信等下游行业 需求的快速释放，公司高速通信线产品市场需求显著增长，带动收入实现快速提升，整体经营及业绩情 况符合公司预期。 公司高速通信线产品已进入多家重点客户的核心供应商体系，订单需求意向明确，主要直接客户包括安 费诺、莫仕、泰科、豪利士等国际企业，以及立讯、庆虹、华丰等国内企业，直接客户进一步加工后再 最终供应给包括英伟达、谷歌、亚马逊、Meta等在内的国际各大服务器厂商终端使用。 ...

2026年1月29日，沃尔核材披露接待调研公告，公司于1月29日接待淡水泉、信达澳亚、中银基金、保银 资产、博时基金、财通证券等36家机构调研。 调研情况显示，2025年度沃尔核材各业务板块营业收入均实现增长，其中通信线缆与新能源汽车产品业 务板块增速较快，同时通过提升自动化水平、优化产品结构等举措提升盈利能力，全年预计实现归母净 利润11亿元至11．8亿元，较上年同期增长29．79％至39．22％。高速通信线业务受益于数据通信等下 游需求释放，收入快速提升，直接客户包括安费诺、莫仕、泰科、立讯等国际国内企业，终端供应英伟 达、谷歌、亚马逊、Meta等服务器厂商。 公司高速通信线产能布局秉承前瞻性和战略性原则，结合行业趋势、市场需求及客户指引提前规划，产 能保持弹性以应对需求变化，现有产能可支持业务增长并匹配客户项目进度。部分终端客户技术方案变 更对整体需求影响有限，公司已开发出下一代448G高速线，产品具备低成本、高可靠性等优势；下游 需求多元，2026年前沿数据中心需求规格增加，公司正增加绕包设备满足需求，且铜价上涨对该业务盈 利影响较小。 公司电子材料、电力产品为优势业务，技术成熟、产品矩阵完善，发展态 ...

Group 1: Financial Performance - The company expects a net profit range of 1.1 billion to 1.18 billion CNY for 2025, representing a year-on-year growth of 29.79% to 39.22% [3] - The overall business revenue has shown steady growth due to increased market demand in electronic materials, communication cables, power products, and new energy vehicles [3] Group 2: High-Speed Communication Cable Business - The demand for high-speed communication cables has significantly increased, driven by the rapid release of demand in downstream industries like data communication [4] - Key direct customers include international companies such as Amphenol, Molex, TE Connectivity, and domestic firms like Luxshare and Qianhong, supplying to major server manufacturers like NVIDIA, Google, and Amazon [4] - The company has strategically planned its production capacity for high-speed communication cables to align with industry trends and customer demand, ensuring flexibility to adapt to market changes [4][5] Group 3: Material Costs and Impact - The company monitors copper price fluctuations closely, as copper is a primary raw material; however, the impact of rising copper prices on profitability is minimal due to strategic procurement measures [6] Group 4: Other Business Segments - The electronic materials and power products segments have established a mature technology system and product matrix, showing stable growth due to ongoing market demand [6] - The new energy vehicle segment benefits from supportive industry policies and infrastructure development, maintaining a positive growth trend [6] - The company is expanding its overseas production capacity in locations like Malaysia to optimize global supply capabilities [6] Group 5: Market Expansion and Future Outlook - The company is progressing with its Hong Kong stock issuance, considering shareholder interests and market conditions to determine the pricing range [7] - Overall, the company is confident in maintaining a positive growth trajectory supported by existing business foundations and new market expansions [6]

Core Viewpoint - Wolong Materials is set to launch its IPO on the Hong Kong Stock Exchange, marking a significant step in its expansion strategy as a leading manufacturer in the heat shrink materials and communication cable sectors [1][2]. Group 1: Company Overview - Established in 1998, Wolong Materials initially focused on heat shrink materials and has since expanded into the renewable energy sector, particularly in wind and solar power [1]. - The company ranks first in the global heat shrink materials market with a 20.6% market share and third in the global telecommunications cable manufacturing sector with a 12.7% market share [1]. - In China, Wolong Materials is the largest manufacturer of high-speed copper cables, holding a 24.2% global market share, and ranks fifth in the core charging products for new energy vehicles [1]. Group 2: Financial Performance - From 2022 to 2025, the company is projected to achieve revenues of 53.37 billion, 57.19 billion, and 69.2 billion yuan, respectively, indicating steady growth [3]. - Gross profit and net profit are also expected to rise, with gross profits of 16.12 billion, 17.89 billion, and 21.1 billion yuan, and net profits of 6.6 billion, 7.58 billion, and 9.21 billion yuan during the same period [3]. - For the first nine months of 2025, the company reported revenues of 60.77 billion yuan, a year-on-year increase of 26.12%, with gross profit and net profit growing by 25.63% and 24.54%, respectively [4]. Group 3: Market Opportunities - The company is strategically positioned in two high-growth sectors: AI computing and renewable energy, which are expected to drive significant demand for its products [5]. - The global telecommunications cable market is projected to grow from 105 billion yuan in 2020 to 134 billion yuan by 2024, with a compound annual growth rate (CAGR) of 6.1% [8]. - The Chinese DC charging infrastructure is anticipated to expand significantly, with over 1.6 million DC charging guns installed by the end of 2024 and a projected CAGR of 23.3% from 2025 [9]. Group 4: Competitive Landscape - The telecommunications cable industry is highly competitive, with over 100 global participants, while the heat shrink materials market has more than 800 competitors [10]. - Despite being a leader in its segments, the company faces challenges from numerous competitors in the rapidly evolving electronic communication and power transmission markets [10]. Group 5: Strategic Initiatives - The funds raised from the IPO will be allocated towards business development, enhancing research and development, and optimizing global production capacity [10]. - The company aims to strengthen its market position by focusing on core business areas such as electronic communication and renewable energy power transmission [10]. - The successful execution of its IPO strategy is crucial for the company to maintain its competitive edge in the AI and renewable energy sectors [11].

作为全球最大的热缩材料及通信电缆产品制造商之一,沃尔核材(002130.SZ)即将在港股市场开启自己的 新旅程。 1月27日，深圳市沃尔核材服务股份有限公司(以下简称"沃尔核材")在港交所披露聆讯后的招股书，拟香 港主板IPO上市。该公司曾于2025年6月17日、2026年1月26日先后两次递表。随着其正式通过港交所聆 讯，沃尔核材也将离港股上市更近一步。 据智通财经了解，沃尔核材成立于1998年，以热缩材料起家。2012年，公司并购乐庭智联七二线缆赛 道，扩大业务版图。再到2018年，公司战略布局风力发电设备与运营领域，正式向新能源领域延伸，直 至目前沃尔核材已形成 "新材料系列产品 + 新能源风力发电/光伏发电" 的双主业格局。 根据弗若斯特沙利文的资料，按2024年全球收入计，沃尔核材在全球热缩材料行业中排名第一，占全球 市场份额20.6%;在全球电信电缆制造商(涵盖高速铜缆)中排名第三占全球市场份额12.7%;公司亦是中国 最大的高速铜缆制造商，占全球市场份额24.2%。另外，该公司又分别在中国新能源汽车核心充电类产 品行业中国制造商中排名第五，并在中国电缆附件行业电缆附件制造商中排名第一。 2007 ...