金 杯 电 工 股 份 有 限 公 司 Gold cup Electric Apparatus Co.,Ltd. 证券代码：002533 证券简称：金杯电工 公告编号：2025-038 金杯电工股份有限公司 2025 年第二次临时股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 ①通过深圳证券交易所交易系统进行网络投票的具体时间为2025年11月13 日9:15-9:25，9:30-11:30，13:00-15:00； ②通过深圳证券交易所互联网投票系统投票的具体时间为2025年11月13日 9:15-15:00。 特别提示： 1、本次股东会未出现否决议案的情形。 2、本次股东会未涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 1、会议召集人：公司董事会。 2、会议召开时间： （1）现场会议召开时间：2025年11月13日14:00； （2）网络投票时间： 3、现场会议召开地点：公司技术信息综合大楼501会议室（湖南省长沙市高 新技术产业开发区东方红中路580号）。 4、会议投票方式：本次会议采取现场表决与网络投票相结合的方式。 5、会 ...

湖南启元律师事务所 关于金杯电工股份有限公司 2025年第二次临时股东会的 法律意见书 2025年11月 1、刊登在中国证券监督管理委员会（以下简称"中国证监会"）指定媒体报 纸和巨潮资讯网站（http://www.cninfo.com.cn/）的与本次股东会有关的通知等公 告事项； 致：金杯电工股份有限公司 湖南启元律师事务所（以下简称"本所"）接受金杯电工股份有限公司（以下 简称"公司"）的委托，指派本所律师出席了公司 2025 年第二次临时股东会（以 下简称"本次股东会"），对本次股东会的召集和召开程序、出席会议人员及召集 人的资格、表决程序和表决结果的合法有效性进行现场律师见证，并发表本法律 意见。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华 人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》（以下简 称"《股东会规则》"）、《深圳证券交易所上市公司股东会网络投票实施细则》（以 下简称"《网络投票实施细则》"）等我国现行法律、法规、规范性文件以及《金 杯电工股份有限公司章程》（以下简称"《公司章程》"）等有关规定出具本法律 意见书。 本所及本所律师声明如下 ...

Core Viewpoint - The report from Huazhong Securities indicates that Jinbei Electric achieved a net profit attributable to shareholders of 464 million yuan in the first three quarters of 2025, representing a year-on-year increase of 8.73% [1] Financial Performance - In Q3 2025, the net profit attributable to shareholders reached 168 million yuan, showing a year-on-year growth of 11.05% [1] - The revenue from the electromagnetic wire business for the first three quarters of 2025 was 5.815 billion yuan, reflecting a year-on-year increase of 21% [1] Business Segments - Sales of electromagnetic wires for new energy vehicles increased by 54% year-on-year, with new models accelerating market penetration and enhancing market share [1] - In the emerging business sector, sales of electromagnetic wires for offshore wind power transformers and generators surged by 87% year-on-year, supporting multiple domestic and international offshore wind projects [1] International Expansion - The company is actively expanding its global market presence by taking production capacity overseas, with a signed purchase agreement for a factory in the Czech Republic, including land, and has obtained property rights [1] - Other preparatory work for international expansion is progressing according to plan [1] Investment Rating - The report maintains a "Buy" rating for the company [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's electromagnetic wire business continues to maintain high prosperity, leading to steady growth in performance. For the first three quarters of 2025, the company achieved operating revenue of 14.769 billion yuan, a year-on-year increase of 15.92%, and a net profit attributable to shareholders of 464 million yuan, up 8.73% year-on-year [4][5] - The revenue from electromagnetic wire products for the first three quarters of 2025 reached 5.815 billion yuan, representing a year-on-year growth of 21%, with sales of new energy vehicle electromagnetic wires increasing by 54% [5] - The company is actively expanding its global market presence, with a signed purchase agreement for a factory in the Czech Republic, indicating proactive capacity expansion overseas [5] Financial Performance Summary - For the first three quarters of 2025, the company reported a gross margin of 10.37%, a slight decrease of 0.15 percentage points year-on-year, while the gross margin for Q3 2025 was 10.44%, an increase of 0.68 percentage points year-on-year [4] - The projected revenues for 2025 to 2027 are 20.033 billion yuan, 22.598 billion yuan, and 25.444 billion yuan, respectively, with corresponding net profits of 698 million yuan, 780 million yuan, and 871 million yuan [6][8] - The company’s P/E ratios for 2025, 2026, and 2027 are projected to be 14.7, 13.2, and 11.8, respectively [6]

Core Viewpoint - The company, Jinbei Electric, is a leading player in the flat electromagnetic wire sector, focusing on transformers, inverters, and reactors, and is recognized for its product quality and customer relationships [2] Group 1: Company Strengths - The company has established strong competitive advantages in the flat electromagnetic wire market through product quality, customer accumulation, and economies of scale [2] - Jinbei Electric has gained widespread recognition from notable domestic and international clients, including China Electric Equipment Group, TBEA, Siemens Energy, Hitachi Energy, and Igor [2] Group 2: Market Opportunities - The company is capitalizing on strategic opportunities arising from global energy transformation and increasing electricity demand [2] - Jinbei Electric is actively expanding its overseas market presence, having directly exported to regions such as Europe, Japan, Southeast Asia, Central Asia, India, the Middle East, and South America [2] - Europe has been selected as the first destination for the company's capacity expansion, with plans to establish an intelligent production base with an annual capacity of 20,000 tons of electromagnetic wire [2]

Core Viewpoint - The company Jinbei Electric (金杯电工) is recognized as a leader in flat electromagnetic wire, focusing on transformers, inverters, and reactors, and has established a strong competitive edge in the market due to product quality, customer accumulation, and scale effects [2]. Group 1: Company Overview - Jinbei Electric has received widespread recognition from domestic and international clients, including China Electric Equipment Group, TBEA, Siemens Energy, Hitachi Energy, and Igor [2]. - The company emphasizes the importance of expanding its overseas market presence, having already exported directly to regions such as Europe, Japan, Southeast Asia, Central Asia, India, the Middle East, and South America [2]. Group 2: Strategic Initiatives - Jinbei Electric has selected Europe as the primary location for its capacity expansion, planning to establish an intelligent production base with an annual capacity of 20,000 tons of electromagnetic wire [2].

Key Points - Antai Group's stock price deviates from its fundamentals, indicating risks of market sentiment overheating and irrational speculation [1] - Huatai plans to invest in a carbon dioxide comprehensive utilization project with an annual production capacity of 120,000 tons of amino resin [1] - Guizhou Moutai intends to repurchase shares worth between 1.5 billion to 3 billion yuan [2] - Jindi Group's cumulative signed amount from January to October is 26.1 billion yuan, a year-on-year decrease of 55.33% [2] - Ningbo Port expects to complete a cargo throughput of 99.6 million tons in October, a year-on-year increase of 5.3% [2] - Kaimeite Gas plans to reduce its shareholding by no more than 3% [3] - Hualan Co., Ltd. intends to increase its stock holdings by 30 million to 60 million yuan [3] - Haoneng Co., Ltd. plans to issue convertible bonds to raise no more than 1.8 billion yuan for core components of intelligent manufacturing projects [3]

Group 1 - The company Jinbei Electric (SZ 002533) announced a share reduction plan by key executives, including the president and vice president, who plan to sell a total of up to 1,300,000 shares, representing approximately 1.5% of the total share capital [1] - As of the announcement date, the company has a total share capital of approximately 734 million shares, with the president holding about 6.23% and the vice president holding about 2.43% of the total shares [1] - The company currently has a market capitalization of 10.3 billion yuan [3] Group 2 - For the first half of 2025, the revenue composition of Jinbei Electric is as follows: green building applications account for 30.83%, smart grid applications for 27.85%, major engineering applications for 15.77%, renewable energy for 12.81%, and equipment manufacturing for 9.41% [2]

Core Viewpoint - The announcement from Jinbei Electric (002533.SZ) indicates that key executives plan to reduce their shareholdings in the company through a structured selling process, which may impact investor sentiment and stock performance [1] Group 1: Shareholding Reduction Plans - Chairman and President Zhou Zuqin holds 45.7184 million shares, representing 6.2292% of the total share capital, and plans to reduce his holdings by up to 11 million shares, which is 1.4988% of the total share capital [1] - Vice Chairman and Vice President Fan Zhihong holds 17.8138 million shares, representing 2.4271% of the total share capital, and intends to reduce his holdings by up to 2 million shares, which is 0.2725% of the total share capital [1] - Both executives will initiate their share reduction plans 15 trading days after the announcement and will execute them within a three-month period through centralized bidding or block trading [1]

Core Viewpoint - Jinbei Electric (002533.SZ) announced that its board member and president, Mr. Zhou Zuqin, plans to reduce his holdings by up to 11 million shares, while vice chairman and vice president, Mr. Fan Zhihong, intends to reduce his holdings by up to 2 million shares within three months after the announcement [1] Group 1 - Mr. Zhou Zuqin holds 45.7184 million shares, representing 6.2292% of the total share capital, and 6.2844% when excluding repurchased shares [1] - Mr. Zhou plans to reduce his holdings by up to 11 million shares, which is 1.4988% of the total share capital and 1.5120% when excluding repurchased shares [1] - Mr. Fan Zhihong holds 17.8138 million shares, representing 2.4271% of the total share capital, and 2.4487% when excluding repurchased shares [1] Group 2 - Mr. Fan plans to reduce his holdings by up to 2 million shares, which is 0.2725% of the total share capital and 0.2749% when excluding repurchased shares [1] - Both reductions will occur through centralized bidding or block trading within three months after the announcement, starting 15 trading days post-announcement [1]