Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Views - The company has a strong order backlog related to AI server components, leveraging its technological advantages in miniaturization, high precision, and high power [4] - The company has developed new tantalum capacitor products to meet the needs of major clients, featuring a leadless structure that improves volume utilization by 25% and enhances performance [5] - Revenue projections for the company are estimated at 71.3 billion, 86.8 billion, and 103.7 billion yuan for the years 2025, 2026, and 2027 respectively, with net profits of 10.2 billion, 13.5 billion, and 16.6 billion yuan [6] Company Overview - The latest closing price of the company's stock is 36.46 yuan, with a total market capitalization of 294 billion yuan and a circulating market capitalization of 276 billion yuan [3] - The company has a total share capital of 8.06 billion shares, with 7.57 billion shares in circulation [3] - The company's major shareholder is Xinyu Hengshuntong Electronic Technology Development Co., Ltd. [3] Financial Projections - The company is expected to achieve revenue growth rates of 16.99%, 20.84%, 21.86%, and 19.40% for the years 2024, 2025, 2026, and 2027 respectively [8] - The projected net profit growth rates are 29.91%, 22.54%, 32.46%, and 23.05% for the same years [8] - The earnings per share (EPS) are forecasted to be 1.03, 1.26, 1.68, and 2.06 yuan for the years 2024, 2025, 2026, and 2027 respectively [8]

南财智讯1月5日电，顺络电子公告，公司近日收到独立董事王天广先生提交的书面辞职报告。王天广先 生因个人原因，申请辞去公司第七届董事会独立董事及董事会审计委员会委员、提名委员会委员职务。 王天广先生辞职后，将不再担任公司任何职务。根据《中华人民共和国公司法》《公司章程》及相关法 律法规的规定，王天广先生的辞职不会导致公司董事会成员人数低于法定最低人数、不会导致公司独立 董事占董事会成员的比例低于三分之一，不会影响董事会规范运作及正常经营管理工作，其辞职报告自 送达董事会之日起生效。截至本公告披露日，王天广先生未持有公司股份，不存在应履行而未履行的承 诺事项。 ...

格隆汇1月5日丨顺络电子(002138.SZ)公布，公司于近日收到独立董事王天广先生提交的书面辞职报 告。王天广先生因个人原因，申请辞去公司第七届董事会独立董事及董事会审计委员会委员、提名委员 会委员职务。王天广先生辞职后，将不再担任公司任何职务。 ...

南财智讯1月5日电，顺络电子公告，公司董事长袁金钰先生将持有本公司的部分股份办理了解除质押业 务，本次解除质押股份数量合计4,300,000股，占其所持公司股份的10.65%，占公司总股本的0.53%。本 次解除质押后，袁金钰先生累计质押股份为23,870,000股，占其所持股份的59.14%。 ...

股票代码：002138 股票简称：顺络电子 编号：2026-002 深圳顺络电子股份有限公司 关于董事长部分股份解除质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳顺络电子股份有限公司（以下简称"公司"）于近日接到公司董事长袁 金钰先生通知，获悉袁金钰先生将持有本公司部分股份办理了解除质押业务，现 将有关事项公告如下： 二、股份累计质押情况 股东名称 是否为控股 股东或第一 大股东及其 一致行动人 本次解除质押 股份数量（股） 占其所持股 份比例 占公司总股 本比例 起始日 解除日期 质权人 袁金钰 否 2,580,000 6.39% 0.32% 2023 年 11 月 29 日 2025年12月 31 日 招商证券股份有限公 司 袁金钰 否 1,720,000 4.26% 0.21% 2023 年 11 月 27 日 2025年12月 31 日 招商证券股份有限公 司 合计 / 4,300,000 10.65% 0.53% / / / 一、股东股份解除质押的基本情况 二〇二六年一月六日 截至公告披露日，袁金钰先生及其一致行动人所持质押股份情况 ...

王天广先生在任职期间恪尽职守、勤勉尽责，公司及董事会对王天广先生在 任职期间为公司做出的贡献表示衷心的感谢！ 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 股票代码：002138 股票简称：顺络电子 编号：2026-001 深圳顺络电子股份有限公司（以下简称"公司"）于近日收到独立董事王天 广先生提交的书面辞职报告。王天广先生因个人原因，申请辞去公司第七届董事 会独立董事及董事会审计委员会委员、提名委员会委员职务。王天广先生辞职后， 将不再担任公司任何职务。 根据《中华人民共和国公司法》《公司章程》及相关法律法规的规定，王天 广先生的辞职不会导致公司董事会成员人数低于法定最低人数、不会导致公司独 立董事占董事会成员的比例低于三分之一，不会影响董事会规范运作及正常经营 管理工作，其辞职报告自送达董事会之日起生效。 深圳顺络电子股份有限公司 截至本公告披露日，王天广先生未持有公司股份，不存在应履行而未履行的 承诺事项。 关于独立董事辞职的公告 特此公告。 深圳顺络电子股份有限公司 董 事 会 二〇二六年一月六日 ...

Group 1 - Panasonic has announced a price increase for certain tantalum capacitor models by 15-30%, effective from February 1, 2026, covering 30-40 types of tantalum polymer capacitors [1] - Multiple passive component manufacturers in China have also issued price increase notices, with adjustments ranging from 5% to 20% due to rising raw material costs [1] - The passive component industry is entering a new round of price increases, driven by both raw material cost pressures and surging demand from AI applications [2][3] Group 2 - The primary reasons for the price increases in passive components are the rising costs of raw materials such as silver, tin, copper, and other metals, alongside increased demand driven by AI technology [3] - The price of silver has surged approximately 143% in 2025, contributing to the overall increase in production costs for passive component manufacturers [3] - AI servers require significantly more passive components compared to traditional electronics, with one AI server using an average of 30,000 MLCCs, which is 30 times more than a smartphone [3] Group 3 - Guosen Securities projects that the tantalum capacitor market will reach $21.7 billion by 2026, a 45% increase from 2024, with an anticipated supply-demand gap due to limited production expansion by leading companies [4] - Yageo Corporation announced a price increase for polymer tantalum capacitors starting November 1, 2025, in response to the surge in demand from AI applications [5] - Companies like Winhao Technology and Sunlord Electronics are also adjusting prices for various electronic components due to rising precious metal costs [7]

Core Viewpoint - Shunluo Electronics has shown a positive stock performance with a 2.03% increase on January 5, 2025, and has a market capitalization of 29.229 billion yuan, indicating investor interest and potential growth in the electronic components sector [1]. Financial Performance - For the period from January to September 2025, Shunluo Electronics achieved a revenue of 5.032 billion yuan, representing a year-on-year growth of 19.95% [2]. - The net profit attributable to shareholders for the same period was 769 million yuan, reflecting a year-on-year increase of 23.23% [2]. Shareholder Information - As of September 30, 2025, the number of shareholders for Shunluo Electronics increased to 46,000, up by 16.79% from the previous period [2]. - The average number of circulating shares per shareholder decreased by 14.38% to 16,456 shares [2]. Dividend Distribution - Since its A-share listing, Shunluo Electronics has distributed a total of 2.32 billion yuan in dividends, with 869 million yuan distributed over the last three years [3]. Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited is the second-largest circulating shareholder with 45.1919 million shares, a decrease of 5.0674 million shares from the previous period [3]. - Other notable institutional shareholders include Xingquan Trend Investment Mixed Fund and Southern CSI 500 ETF, both of which have reduced their holdings [3].

股票代码：002138 股票简称：顺络电子 编号：2025-101 深圳顺络电子股份有限公司 关于为控股公司提供担保的进展情况公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 在上述权限范围内，公司董事会授权公司管理层根据实际情况，选择金融机 构及担保方式并办理签订相关合同等具体事宜，公司将按照相关法律法规履行信 息披露义务。 上述事宜详见公司分别于 2025 年 2 月 28 日、2025 年 3 月 21 日刊登于证券 时报及巨潮资讯网（http://www.cninfo.com.cn）的公告。 本次担保使用额度情况如下： 单位：人民币万元 | | | | 股东大会审 | 本次担保 | 本次担保 | 本次担保 | | --- | --- | --- | --- | --- | --- | --- | | 担保方 | 被担保方 | 资产负债率 | 批额度 | 前担保余 | 额度 | 后担保余 | | | | | | 额 | | 额 | | 公司 | 上海顺络 | 70%以上 | 350,000 | 258,150 | 5,000 | 263,150 | ...

股票代码：002138 股票简称：顺络电子 编号：2025-102 深圳顺络电子股份有限公司 关于股东部分股份质押及解除质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳顺络电子股份有限公司（以下简称"公司"）于近日接到公司股东新余市 恒顺通电子科技开发有限公司（以下简称"恒顺通"）通知，获悉恒顺通将持有 本公司部分股份办理质押及解除质押业务，现将有关事项公告如下： | | 是否为控股 股东或第一 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名称 | | 本次解除质押 | 占其所持股 | 占公司总股 | | 起始日 | | 解除日期 | | 质权人 | | | 大股东及其 | 股份数量（股） | 份比例 | 本比例 | | | | | | | | | 一致行动人 | | | | | | | | | | | 恒顺通 | 是 | 6,200,000 | 11.17% | 0.77% | 2025 | 年 1 | ...