（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：你好，公司是否有机会突破安费诺封锁，直接拿到欧 美大厂订单？ 沃尔核材（002130.SZ）7月30日在投资者互动平台表示，公司高速通信线的主要客户包括安费诺、豪利 士、莫仕、泰科等国际客户；以及立讯、英飞联等国内多家连接器企业。公司的高速通信线供应给下游 客户群体后配套给国际、国内各大服务器厂商终端使用。公司将持续加大研发创新力度，依托领先的技 术实力、卓越的产品品质和高效的客户需求响应能力，不断提升核心竞争力，赢得更多终端客户的信赖 与认可。 ...

Core Insights - The company is positioned to benefit from the national plan to build 100,000 high-power charging stations by 2027, which is expected to positively impact its revenue from new energy business, particularly DC charging guns [2] - The company reported that its revenue from new energy business DC charging guns is currently the highest in the domestic industry for the year 2024 [2] - The company plans to continue investing in research and development and product iteration to maintain its leading market share in the industry [2]

Core Viewpoint - The company has successfully developed and delivered 224G high-speed communication cables using two mainstream technical solutions: physical foaming technology and solid material technology, which have passed rigorous certification from leading global clients [1] Group 1: Technology Overview - The mainstream technical solutions for 224G high-speed communication cables are physical foaming technology and solid material technology [1] - Physical foaming involves mixing inert gases like nitrogen under pressure to create uniform, sealed micro-pores, requiring precise equipment and high operational skills [1] - The solid core structure is created using a specially designed extruder mold to form longitudinal through-holes, which can allow moisture to enter and affect dielectric constant stability, leading to signal attenuation [1] Group 2: Product Stability - Physical foaming provides better stability as the inert gas in sealed bubbles is less likely to flow, resulting in minimal deformation during bending and less moisture intrusion [1] - In contrast, the solid core structure can experience significant changes in dielectric constant due to air movement within the holes during bending, affecting transmission speed stability [1] Group 3: Future Developments - The company is currently conducting preliminary research on the next generation of 448G high-speed communication cables [1]

金融界7月30日消息，有投资者在互动平台向沃尔核材提问：你好，公司是否有机会突破安费诺封锁， 直接拿到欧美大厂订单？ 来源：金融界 公司回答表示：感谢您的关注！公司高速通信线的主要客户包括安费诺、豪利士、莫仕、泰科等国际客 户；以及立讯、英飞联等国内多家连接器企业。公司的高速通信线供应给下游客户群体后配套给国际、 国内各大服务器厂商终端使用。公司将持续加大研发创新力度，依托领先的技术实力、卓越的产品品质 和高效的客户需求响应能力，不断提升核心竞争力，赢得更多终端客户的信赖与认可。谢谢！ ...

Core Viewpoint - The company,沃尔核材, has confirmed the stable mass production of its high-speed communication cables, including the PCIe series and single-channel 224G high-speed communication cables, which are utilized in different parts of data centers [2]. Group 1: Product Development - The company's subsidiary, 乐庭智联, has extensive experience in the communication cable industry, having been involved for several decades [2]. - The company possesses strong competitive advantages in product design and development, quality stability, product variety, and large-scale production capabilities [2].

Group 1 - The company has submitted an application for H-share issuance and listing to the Hong Kong Stock Exchange [1] - The application materials have been published on the Hong Kong Stock Exchange website [1] - Related work is progressing in an orderly manner [1]

Core Viewpoint - The company is focused on customer demand, optimizing its marketing system, and enhancing market layout to drive steady performance growth in the first half of 2025 [1] Group 1: Marketing Strategy - The company has developed a broad marketing network with multiple sales channels to improve market coverage [1] - A multi-brand sales strategy is being continuously optimized to enhance market penetration [1] Group 2: Team Development - The company is expanding its marketing team by attracting high-end marketing talent and optimizing the compensation system to boost the initiative and enthusiasm of the sales team [1] Group 3: Market Strategy - The company conducts precise assessments of downstream market trends and timely expands production capacity to seize market opportunities [1] - A series of optimization measures in the marketing system have effectively driven the company's steady performance improvement [1]

Investment Rating - The investment rating for the AIDC power equipment and grid industry is "Outperform the Market" (maintained) [1] Core Viewpoints - The global AI computing load is expected to grow significantly, with new AI computing loads projected at 9.7/15.9/20.2/22.3/23.4/24.6 GW from 2025 to 2030, leading to a corresponding increase in demand for AIDC power equipment [5][13] - The domestic data center industry is expected to see substantial capital expenditure growth, with major cloud providers anticipated to ramp up investments, particularly in AI infrastructure [18][24] - The industry is characterized by a long power transmission chain, with established global players like Eaton and Schneider Electric dominating, while domestic companies are gaining competitive advantages in various segments [5][13] AIDC Power Equipment Summary - The demand for AIDC power equipment is projected to reach 29/48/60/67/70/74 GW from 2025 to 2030, with an average annual growth rate of 20% [5][13] - The market space for dry-type transformers, medium and low voltage switchgear, UPS, HVDC, and solid-state transformers is expected to reach 85/341/41/380/239 billion yuan by 2030 [5][12] - Recent performance in the AIDC power equipment sector has shown significant gains, particularly in transformers and switchgear, with notable stock performances from companies like TBEA and XWDA [5][28] Grid Industry Summary - National power engineering investment reached 1,057 billion yuan in June 2025, a year-on-year increase of 22.5% [32] - The grid engineering investment for the same period was 871 billion yuan, reflecting a year-on-year growth of 4.1% [33] - The bidding results for the State Grid's transformer equipment showed a total bid amount of 211.89 billion yuan, a year-on-year increase of 38.1% [61] - The focus for the grid industry includes high voltage orders and the development of new business models such as virtual power plants and green electricity direct supply [5][55]

Investment Rating - The report maintains an "Outperform" rating for the communication industry, indicating an expected performance exceeding the benchmark index by over 10% [1][36]. Core Insights - The communication industry has seen significant advancements with the release of Grok4 and Kimi K2, which are expected to enhance capabilities in various applications such as programming and robotics [3][15]. - The earnings forecasts for major players in the server, optical module, and copper connection sectors are promising, with notable year-on-year growth expected [5][16]. - The ongoing global competition in computing power is shifting from model training to service quality and competitive advantages, suggesting a robust outlook for investments in the sector [7][18]. Summary by Sections Industry Investment Rating - The communication industry is rated as "Outperform," with expectations of exceeding the benchmark index by over 10% [1][36]. Industry Trends - Grok4, launched by xAI, boasts a tenfold improvement in reasoning capabilities compared to its predecessor, with applications in complex task execution and programming [3][14]. - Kimi K2, a new MoE model, has achieved state-of-the-art results in several foundational tests, indicating significant advancements in AI capabilities [4][15]. Earnings Forecasts - Industrial Fulian anticipates a net profit of 11.96-12.16 billion yuan for the first half of 2025, reflecting a year-on-year increase of 36.8%-39.1% [5][16]. - Other companies like Guangxun Technology and Huagong Technology also project substantial profit growth, with increases ranging from 30% to 95% year-on-year [5][16]. Investment Recommendations - The report suggests focusing on both overseas and domestic computing power chains, highlighting companies such as Industrial Fulian and Huagong Technology as key players [8][19]. - The ongoing arms race in computing power is expected to yield numerous investment opportunities in the coming years, particularly in the context of domestic algorithm optimization [17][18]. Market Overview - The overall market showed positive performance during the week of July 7-11, 2025, with notable increases in various indices, including a 2.36% rise in the ChiNext Index [8][19]. - Specific sectors such as equipment manufacturers and IoT led the weekly gains, indicating strong investor interest [8][19].

Group 1 - The copper cable high-speed connection sector is experiencing significant activity, with Jin Tian Co., Ltd. (601609) hitting the daily limit up, indicating strong investor interest [1] - Other companies in the sector, such as Tai Chen Guang (300570), Hui Lv Ecological (001267), De Run Electronics (002055), Zhao Long Interconnect (300913), and Woer Nuclear Materials (002130), also saw their stock prices rise, reflecting a broader trend in the industry [1] - The movement of "smart money" towards these stocks suggests a strategic investment approach, potentially indicating future growth opportunities within the copper cable sector [1]