Summary of Jianghai Co., Ltd. Conference Call Company Overview - **Company**: Jianghai Co., Ltd. - **Date**: August 28, 2025 Key Financial Metrics - **Total Revenue**: 2.694 billion CNY, up 13.96% year-on-year [3] - **Revenue Breakdown**: - **Lithium Capacitors**: 2.229 billion CNY, 82.75% of total revenue, up 16.7% [3] - **Film Capacitors**: 233 million CNY, 8.65% of total revenue, up 4.96% [3] - **Supercapacitors**: 162 million CNY, 6% of total revenue, up 48.93% [2][4] Profitability Analysis - **Gross Margins**: - **Lithium Capacitors**: 26.75%, slight increase [5] - **Film Capacitors**: 14.39%, decline year-on-year [5] - **Supercapacitors**: 16.86%, decline year-on-year but slight increase quarter-on-quarter [5] - **Materials**: 21.53%, increase due to cost reductions from new projects [5] Market Segmentation - **Aluminum Electrolytic Capacitors**: - Industrial Automation: 38.59% - New Energy: 29.3% - Automotive & Charging Stations: 10.26% - Consumer Applications: 21.85% [6] - **Film Capacitors**: - New Energy: 33.16% - Automotive: 30.8% - Industrial Automation: 23.9% - Consumer Applications: 12.44% [6] - **Supercapacitors**: - Smart Meters: 44.88% - New Energy: 29.8% - Energy Storage & Frequency Regulation: 25.32% [6] Future Outlook - **Market Growth**: Expected to maintain a growth rate of 10%-20% for the year despite a cooling new energy market in Q3 [7][8] - **Expansion Plans**: Plans to double supercapacitor sales to 600 million CNY by 2026 through automation and capacity enhancements [3][16] - **AI Technology Integration**: Significant opportunities in AI applications, with expected monthly orders from Delta for supercapacitors starting in Q1 2026 [9][17] AI and Technology Developments - **Supercapacitor Production**: New models (H200, GB200, GB300) in mass production, with expected demand growth exceeding 50% [9] - **Aluminum Electrolytic Capacitors**: Voltage increased to 475V, with capacity exceeding 1,000μF, and significant demand from AI applications [10][11] - **Market Position**: Jianghai is a key supplier in the AI sector, with expectations of high margins for new products [27] Capital Expenditure Plans - **2025 Capital Expenditure**: Expected to be around 1.5 to 2 billion CNY, focusing on expanding production capacity and enhancing technology [24][23] - **Future Investments**: Plans to invest 500 million to 1 billion CNY to increase production capacity by 3 to 5 times [22][23] Competitive Landscape - **Market Share**: Jianghai aims to increase its market share in aluminum electrolytic capacitors, particularly in AI applications, with expected revenue growth of 20% in 2026 [26] - **Material Innovations**: Collaboration with South China University of Technology to develop new materials that enhance product performance and reduce costs [30][31] Conclusion - Jianghai Co., Ltd. is positioned for significant growth in the capacitor market, particularly in AI and new energy applications, with robust financial performance and strategic expansion plans. The integration of AI technology and ongoing innovations in product development are expected to drive future profitability and market share.

Core Viewpoint - Jianghai Co., Ltd. has shown significant trading activity and financial performance, indicating strong investor interest and growth potential in the capacitor industry [1][2]. Group 1: Trading Activity - On August 27, Jianghai Co., Ltd. saw a stock price increase of 2.01% with a trading volume of 1.627 billion yuan [1]. - The company recorded a financing buy-in of 322 million yuan and a financing repayment of 225 million yuan, resulting in a net financing buy of approximately 96.91 million yuan [1]. - As of August 27, the total margin trading balance for Jianghai Co., Ltd. was 1.175 billion yuan, with the financing balance accounting for 4.93% of the circulating market value, indicating a high level of activity compared to the past year [1]. Group 2: Financial Performance - For the first half of 2025, Jianghai Co., Ltd. achieved a revenue of 2.694 billion yuan, reflecting a year-on-year growth of 13.96% [2]. - The net profit attributable to shareholders for the same period was 358 million yuan, which represents a year-on-year increase of 3.19% [2]. - The company has distributed a total of 1.212 billion yuan in dividends since its A-share listing, with 565 million yuan distributed over the past three years [2]. Group 3: Shareholder Structure - As of June 30, 2025, Jianghai Co., Ltd. had 50,400 shareholders, a decrease of 3.41% from the previous period [2]. - The average number of circulating shares per shareholder increased by 3.53% to 16,268 shares [2]. - Notable changes in institutional holdings include Hong Kong Central Clearing Limited as the fourth largest shareholder with 13.7728 million shares, a decrease of 41,200 shares from the previous period [2].

每经头条（nbdtoutiao）——世界首例基因编辑猪肺成功移植人体 对话主要参与者：距离临床应用还有 多远？ 每经AI快讯，江海股份8月28日发布半年度业绩报告称，2025年上半年营业收入约26.94亿元，同比增加 13.96%；归属于上市公司股东的净利润约3.58亿元，同比增加3.19%；基本每股收益0.4247元，同比增 加3.43%。 （记者 王瀚黎） ...

Core Insights - Jianghai Co., Ltd. (002484.SZ) reported a revenue of 2.694 billion yuan for the first half of 2025, representing a year-on-year growth of 13.96% [1] - The net profit attributable to shareholders of the listed company was 358 million yuan, an increase of 3.19% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 344 million yuan, reflecting a year-on-year growth of 8.96% [1] - Basic earnings per share were reported at 0.4247 yuan [1]

Core Viewpoint - Jianghai Co., Ltd. reported a revenue of 2.694 billion yuan for the first half of 2025, reflecting a year-on-year growth of 13.96% [1] - The net profit attributable to shareholders reached 358 million yuan, with a year-on-year increase of 3.19% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 344 million yuan, showing a year-on-year growth of 8.96% [1] - Basic earnings per share stood at 0.4247 yuan [1]

Group 1 - The company Jianghai Co., Ltd. (002484) announced that it will hold the second extraordinary general meeting of shareholders for 2025 on September 16, 2025 [1] - The agenda for the meeting includes the review of the proposal to amend the company's articles of association [1]

南通江海电容器股份有限公司 章 程 2025 年【8】月 1 | 第一节 | 股份发行 | 4 | | --- | --- | --- | | 第二节 | 股份增减和回购 | 7 | | 第三节 | 股份转让 | 8 | | 第一节 | 股东 | 9 | | 第三节 | 股东会的一般规定 12 | | | 第四节 | 股东会的召集 | 15 | | 第五节 | 股东会的提案与通知 16 | | | 第六节 | 股东会的召开 | 17 | | 第七节 | 股东会的表决和决议 20 | | | 第一节 | 董事 | 26 | | 第二节 | 董事会 | 29 | | 第一节 | 财务会计制度 | 40 | | 第二节 | 内部审计 | 44 | | 第三节 | 会计师事务所的聘任 45 | | | 第一节 | 通知 | 45 | | 第二节 | 公告 | 46 | | 第一节 | 合并、分立、增资和减资 46 | | | 第二节 | 解散和清算 | 48 | 第一章 总 则 第一条 为维护公司、股东和债权人的合法权益，规范公司的组织和行为， 根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证券 ...

（一）2016 年度非公开发行股票募集资金情况 根据公司 2015 年第一次临时股东大会股东会决议，审议通过了《关于 公司 2015 年度非公开发行股票方案的议案》，并经中国证券监督管理委员 会《关于核准南通江海电容器股份有限公司非公开发行股票的批复》（证监 许可［2016］1224 号）核准，获准非公开发行不超过 108,781,868.00 股新 股的人民币普通股，公司最终确定的非公开发行股份数量为 94,562,647.00 股，发行价格为 12.69 元／股，募集资金总额为 1,199,999,990.43 元，扣 除保荐承销费用、审计验资费用、律师费用等发行费用共计 19,239,599.87 元，募集资金净额为人民币 1,180,760,390.56 元。上述募集资金已经天衡 会计师事务所（特殊普通合伙）天衡验字(2016)00156 号验资报告验证。 （二）、截至 2025 年 6 月 30 日，公司募集资金使用及结存情况如下： 南通江海电容器股份有限公司关于 2025 年半年度 募集资金存放与使用情况专项报告 根据中国证券监督管理委员会《上市公司监管指引第 2 号——上市公司 募集资金管理和使 ...

证券代码:002484 证券简称：江海股份 公告编号：2025-042 章程修改对照表 | 845,286,241 元 | 850,523,941 元 | | --- | --- | | 第八条 董事长为公司的法定代表人。 | 第八条 代表公司执行公司事务的董事为公司的 | | | 法定代表人。董事长为代表公司执行公司事务的董 | | | 事。担任法定代表人的董事或者经理辞任的，视为 | | | 同时辞去法定代表人。法定代表人辞任的，公司将 | | | 在法定代表人辞任之日起三十日内确定新的法定 | | | 代表人。 | | 新增 | 第九条 法定代表人以公司名义从事的民事活动， | | | 其法律后果由公司承受。本章程或者股东会对法定 | | | 代表人职权的限制，不得对抗善意相对人。法定代 | | | 表人因为执行职务造成他人损害的，由公司承担民 | | | 事责任。公司承担民事责任后，依照法律或者本章 | | | 程的规定，可以向有过错的法定代表人追偿。 | | 第九条 公司全部资产分为等额股份， | 第十条 公司全部资产分为等额股份，股东以其认 | | 股东以其认购的股份为限对公司承担 | 购的股份为 ...

南通江海电容器股份有限公司 2025年度6月30日非经营性资金占用及其他关联资金往来情况汇总表 单位：人民币万元 | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公司的 | 上市公司核算 | 2025年期初往来 | 2025年度1-6月份 | 2025年度1-6月占 | 2025年度1-6月偿 | 2025年6月30日 | 占用形成原因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 关联关系 | 的会计科目 | 资金余额 | 占用累计发生金额 | 用资金的利息（如 | 还累计发生金额 | 占用资金余额 | | | | | | | | | （不含利息） | 有） | | | | | | 控股股东、实际控制 | | | | - | - | | - | - | | | | 人及其附属企业 | | | | | | | | | | | | 小 计 | | | | - | - | | - | - | | | | 前控股股东、实际控 | | | | - | - | | - | - | | | | ...