Core Viewpoint - Zhongchao Holdings (002471.SZ) is focusing on the technological breakthroughs and industrial applications of high-temperature alloy precision castings through its subsidiary, Hangyu Precision Casting [1] Group 1: Company Developments - Hangyu Precision Casting has developed manufacturing capabilities for large, complex, thin-walled high-temperature alloy precision castings, including turbine rear casings for aircraft engines [1] - The company has entered the supplier system of core customers in the aerospace engine and gas turbine sectors, with its products and technologies successfully applied in major aerospace projects, military and commercial aircraft engines, and gas turbines [1] Group 2: Research and Collaboration - Hangyu Precision Casting is participating in a national key technology project led by Shanghai Jiao Tong University, with research outcomes aimed at critical components for aircraft engines [1] Group 3: Product Applications - The company's products are applicable in supporting gas turbine power stations related to the Yajiang Hydropower Station [1]

金融界8月6日消息，有投资者在互动平台向中超控股提问：公司航宇精铸生产的产品能用在雅江建设上 吗？ 公司回答表示：您好，公司控股孙公司航宇精铸聚焦于高温合金精密铸件的技术攻关与产业化应用，目 前航宇精铸已具备航空发动机涡轮后机匣等大型复杂薄壁高温合金精密铸件制造能力，已进入航空航天 发动机及燃气轮机核心客户的供应商体系，相关产品和技术成功用于航天重大工程、军用和商用航空发 动机以及燃气轮机。航宇精铸参研上海交通大学牵头的国家科技重大专项，研究成果将用于航空发动机 关键零部件。公司产品可用在雅江水电站涉及配套燃机发电站上，谢谢关注！责任编辑：栎树 ...

Core Insights - The cable industry in China, valued at approximately 1.2 trillion yuan, faces challenges such as severe low-end competition and high-end product reliance on imports [1][2] - Over 10,000 cable companies contribute to a fragmented competitive landscape, leading to price wars and quality compromises [2][3] - The industry is experiencing a shift towards high-end products and quality service, with a focus on reducing price competition [6][7] Group 1: Industry Overview - The cable industry is crucial to the national economy, often referred to as its "blood vessels" and "nerves" [1] - China is the world's largest cable manufacturer and consumer, with a market size of around 1.2 trillion yuan [1] - The industry is characterized by a vast array of products, with nearly 2,000 varieties and over 150,000 specifications [2] Group 2: Competitive Landscape - The competition is fragmented, with the top ten companies holding only about 10% market share, indicating a chaotic market environment [3] - In contrast, mature markets like the US and Japan have much higher market concentration, with top companies holding 70% and 65% market shares respectively [3] - The average net profit growth rate for the top ten companies in the industry has not exceeded 0.05% over the past three years, highlighting the profitability challenges [2] Group 3: Market Trends - The industry is witnessing a trend of "one decrease and one increase," where the growth rate of the number of companies is declining while the number of exits is increasing, leading to a more concentrated market [4] - State Grid's reform in bidding processes is expected to favor larger companies, further consolidating the market [5] - Middle and small enterprises are encouraged to adopt specialized strategies to capture niche markets and enhance overall industry quality [7] Group 4: High-End Product Development - The high-end cable market in China is heavily reliant on imports, with over 80% of the market dominated by foreign companies [6] - Companies like Baoshen Co. are focusing on high-end and intelligent product transformations, achieving significant profit growth [6] - The shift towards high-end products is seen as essential for the industry's future, moving away from price competition to quality and service [6][8]

公司董事长杨飞近日表示，我国线缆行业集中度较低，前十大企业市占率不足15%，而美国、日本等成 熟市场前十大企业占比超过65%。他认为，若行业集中度提升至30%以上，将有助于缓解行业竞争压 力。 截至2025年8月4日收盘，中超控股股价报4.50元，较前一交易日上涨1.81%，成交额达3.27亿元。 风险提示：股市有风险，投资需谨慎。 中超控股属于电网设备板块，主营业务涵盖电线电缆的研发、生产和销售。公司产品广泛应用于电力、 通信、轨道交通等领域。 ...

Core Insights - The cable industry in China is experiencing severe "involution," with the top ten listed companies holding less than 15% market share, indicating a fragmented market compared to more concentrated markets in the US, Japan, and France [1] Industry Analysis - The market concentration in the cable industry is significantly lower in China than in developed countries, where the top ten companies account for over 70% in the US, over 65% in Japan, and over 90% in France [1] - If the market share of the top ten companies in China could be increased to over 30%, it is believed that the level of "involution" in the cable industry would be alleviated [1]

Core Viewpoint - The low-voltage cable industry in China is experiencing robust growth, driven by increasing demand for electricity due to urbanization and technological advancements, with market size projected to reach 223.21 billion yuan by 2025, growing at a compound annual growth rate (CAGR) of 9.18% from 2020 to 2024 [1][19][20]. Industry Overview - Low-voltage cables are essential for power transmission in various sectors, including residential, commercial, and industrial applications, characterized by their moderate voltage levels and high transmission efficiency [1][19]. - The market size of China's low-voltage cable industry grew from 146.75 billion yuan in 2020 to an estimated 208.56 billion yuan in 2024 [1][19]. Industry Development History - The low-voltage cable industry in China has evolved through four key stages: the embryonic stage before 1949, the foundational stage from 1949 to 1978, the transformation stage from 1978 to 2000, and the rapid growth stage from 2000 to the present [9]. Industry Chain - The upstream of the low-voltage cable industry includes raw materials such as copper, aluminum, rubber, and plastics, while the midstream involves the manufacturing of low-voltage cables, and the downstream encompasses applications in power, transportation, construction, and communication sectors [12]. Market Demand and Investment - Investment in power engineering in China is projected to grow from 270 billion yuan in 2017 to 608.3 billion yuan in 2024, with a CAGR of 12.3%, while investment in grid engineering is expected to rise from 531.5 billion yuan to 1,168.7 billion yuan in the same period [16]. - The demand for low-voltage cables is supported by the continuous expansion of power supply infrastructure and smart grid initiatives [16]. Competitive Landscape - The low-voltage cable industry in China is characterized by a large number of small-scale enterprises, with major players including Hengtong Optic-Electric, Baosheng Technology, and Zhongtian Technology, among others [22][24]. - The industry faces challenges such as product homogeneity and intense competition, but leading companies are achieving advanced technological capabilities and international competitiveness [22]. Future Trends - The low-voltage cable industry is moving towards smart technology integration, with the development of intelligent cables that can monitor operational data and predict failures [29]. - Environmental regulations are driving the industry towards greener practices, including the use of halogen-free and biodegradable materials [30]. - There is a focus on high-end special cables for demanding applications in aerospace and marine engineering, with advancements in materials enhancing performance [31].

Group 1 - The company held its 24th meeting of the 6th Board of Directors on July 31, 2025, with all 5 directors present, complying with relevant laws and regulations [1] - The Board approved the proposal regarding the expected daily related party transactions with a unanimous vote of 5 in favor [1] - The Board also approved the appointment of Mr. Sheng Hailiang as the Executive Vice President and Mr. Wang Qiang as the Compliance Director, both for a term until the end of the current Board's tenure [2] Group 2 - Mr. Sheng Hailiang holds 200,000 shares in the company and has no related party relationships with major shareholders or other executives [3] - Mr. Wang Qiang holds 100,000 shares in the company and has a history of significant roles in various companies, including as a director and vice chairman [4]

Meeting Details - The company held a shareholder meeting on July 31, 2025, with both in-person and online voting options available [1] - The meeting was attended by 7 shareholders representing 232,236,680 shares, accounting for 16.9669% of the total shares [2] - A total of 1,847 shareholders participated in online voting, representing the remaining shares [2] Voting Results - The meeting reviewed several proposals, with the following voting results: - Proposal 1: 242,659,351 shares in favor (98.1922%), 4,127,850 against (1.6703%), and 0.1374% abstained [2] - Proposal 2: 242,649,751 shares in favor (98.1883%), 4,104,050 against (1.6607%), and 0.1510% abstained [3] - Proposal 3: 242,617,351 shares in favor (98.1752%), 4,111,550 against (1.6637%), and 0.1610% abstained [4] - Proposal 4: 242,585,351 shares in favor (98.1623%), 4,145,650 against (1.6775%), and 0.1602% abstained [5] - Proposal 5: 242,199,851 shares in favor (98.0063%), 4,471,450 against (1.8094%), and 0.1843% abstained [6] - Proposal 6: 242,550,951 shares in favor (98.1484%), 4,134,350 against (1.6730%), and 0.1787% abstained [7] - Proposal 7: 242,318,751 shares in favor (98.0544%), 4,342,150 against (1.7571%), and 0.1885% abstained [8] - Proposal 8: 242,277,851 shares in favor (98.0379%), 4,383,950 against (1.7740%), and 0.1882% abstained [8] Legal Compliance - The meeting was conducted in accordance with the Company Law, the rules for listed company shareholder meetings, and the company's articles of association, as confirmed by the legal opinions provided by the appointed lawyers [8]

Group 1 - The legal opinion confirms that the convening and holding procedures of the shareholders' meeting of Jiangsu Zhongchao Holdings Co., Ltd. comply with the Company Law, Securities Law, and the company's articles of association [2][15] - The meeting was convened by the board of directors and the qualifications of the convener meet the legal requirements [2][3] - The notice for the shareholders' meeting was published in accordance with legal regulations [4][5] Group 2 - The meeting was held on July 31, 2025, at 13:30 in Yixing City, Jiangsu Province, and was presided over by Ms. Li Bianfen [3][6] - The voting took place both on-site and through the Shenzhen Stock Exchange internet voting system, with specific time frames for participation [3][6] Group 3 - A total of 1,854 participants attended the meeting, representing 247,126,851 shares, which is 18.0548% of the total shares [6] - The voting results showed that 242,659,351 shares were in favor of the proposals, meeting the requirement for special resolutions [7][10] Group 4 - The voting results from minority shareholders indicated that 69.9970% supported the proposals, while 27.7220% opposed them [7][8] - The legal opinion concludes that the voting procedures and results are valid and comply with relevant laws and regulations [15]

Group 1 - The company plans to engage in daily related transactions with its affiliate, Pan-Asia Cable Co., Ltd., with an estimated transaction amount of RMB 36 million from July 23, 2025, to December 31, 2025 [1][2] - The company has appointed Mr. Wang Zhiping, the assistant general manager and chief engineer, as a director of Pan-Asia Cable to enhance supervision and management of financial and operational decisions [2][5] - The total amount of related transactions is projected to be RMB 36 million, which includes sales, purchases, and leasing activities [3][4] Group 2 - The company has not engaged in any disclosable related transactions with Pan-Asia Cable in the fiscal year 2024 [4] - As of December 31, 2024, Pan-Asia Cable had total assets of RMB 333.06 million, net assets of RMB 1.1068 million, and total liabilities of RMB 331.95 million, with a total revenue of RMB 264.27 million and a net loss of RMB 0.9725 million [5] - The company asserts that the related transactions are conducted on fair and reasonable terms, ensuring no adverse impact on the company's financial status or independence [6][7]