Investment Rating - The report maintains an "Overweight" rating for the power equipment and new energy industry [2] Core Insights - In Q1 2025, national grid engineering investment reached 95.6 billion yuan, a year-on-year increase of 24.8% [42] - The report highlights the rapid growth trend in grid investment and suggests focusing on leading companies benefiting from increased domestic infrastructure investment [3][67] Market Review - As of May 8, 2025, the Shenwan power equipment industry rose by 4.41% over the past two weeks, outperforming the CSI 300 index by 2.60 percentage points, ranking 7th among 31 industries [10] - The wind power equipment sector increased by 4.57%, the photovoltaic equipment sector by 5.69%, and the battery sector by 4.06% during the same period [11][12] Valuation and Industry Data - As of May 8, 2025, the price-to-earnings (P/E) ratio for the power equipment sector is 24.50 times, with sub-sectors showing varied P/E ratios: motors at 51.04, photovoltaic equipment at 17.54, and wind power equipment at 30.52 [25][21] - The report indicates that the photovoltaic equipment sector has seen a year-to-date decline of 13.31%, while the motor sector has increased by 22.44% [15] Company Announcements - The report notes that leading companies such as Zhongchao Holdings, Huamin Co., and Zhenjiang Co. have shown significant stock price increases of 38.95%, 29.66%, and 28.37% respectively over the past two weeks [17] - Conversely, companies like Huaxi Energy, Mubang High-tech, and Hezhong Technology have experienced declines of 28.74%, 28.38%, and 26.91% respectively [18]

Battery - Jiangsu Jieyuan's 20GWh energy storage lithium battery project is progressing as planned, with the first phase expected to be completed and operational by Q3, involving a total investment of 5 billion yuan and an annual production capacity of 20GWh, which will reduce CO2 emissions by 500,000 tons per year [2] - Zhongchen Juchi's solid-state battery project in Gansu has completed the main plant construction and is entering the equipment installation phase, with a total investment of 320 million yuan and a production capacity of 2,000 solid-state cells per day [4] - Honeycomb Energy's overseas battery shipments have surged, with April shipments reaching 0.77GWh, a 72% year-on-year increase, and cumulative shipments from January to April totaling 2.76GWh, up 126% year-on-year [5] Materials - Argentina's lithium production is expected to increase by 77% by 2025, reaching 13.18 million tons of LCE [8] - Jinlongyu New Energy's solid-state battery material project has commenced with a total investment of 1.2 billion yuan, including 870 million yuan for construction and a projected construction period of up to three years [10] - Hangzhou Xingkeyuan has completed a multi-million yuan angel+ financing round to develop next-generation silicon-carbon anode materials and solid-state battery technologies [12] - A 110 billion yuan project for producing 200,000 tons of iron phosphate annually has been announced in Hubei, with construction divided into two phases [13]

证券代码：002882 证券简称：金龙羽 公告编号：2025-045 金龙羽集团股份有限公司 关于项目中标的进展公告 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。 一、项目中标的主要情况 金龙羽集团股份有限公司（以下简称"本公司"或"公司"）于 2020 年 1 月 7 日收到南方电网物资有限公司的《中标通知书》，确认本公司中标南方电网 物资有限公司 2019 年 10kV 交联电缆（阻燃型）、低压交流电力电缆（阻燃型）、 低压电线、低压交流电力电缆（普通型）材料框架招标部分项目（以下简称"2020 年中标项目"），按中标比例预估中标金额为 27,148 万元（含税）。 公司下属子公司惠州市金龙羽超高压电缆有限公司（以下简称"超高压公 司"）、惠州市金龙羽电缆实业发展有限公司（以下简称"电缆实业"）于 2021 年8月4日收到南方电网物资有限公司于2021年8月4日作出的《中标通知书》， 确认中标南方电网物资有限公司 2021 年 110kV 交流电力电缆、低压交流电力电 缆（阻燃型）、10kV 交流电力电缆（阻燃型）、低压电线框架招标部分项目（以 下简称" ...

Core Viewpoint - The article highlights the groundbreaking ceremony of Jinlongyu New Energy's solid-state battery material project, emphasizing its strategic importance in the development of new energy materials and technologies for electric vehicles and energy storage systems [1]. Group 1: Project Overview - The solid-state battery material project by Jinlongyu has a total investment exceeding 1.2 billion yuan and covers an area of over 79,000 square meters [1]. - The project aims to integrate research, production, and application of solid-state batteries, with plans to collaborate with automotive and power grid companies for demonstration projects [1]. Group 2: Strategic Focus Areas - The project focuses on three strategic matrices: cutting-edge material development, core technology breakthroughs, and smart energy system integration [1]. - Material development will concentrate on solid electrolyte materials to overcome safety and energy density challenges of liquid lithium batteries [1]. - The core technology breakthrough involves collaboration with domestic and international research institutions to tackle key processes for large-scale production of solid-state batteries, promoting domestic technology substitution [1]. - Smart energy system integration will extend to energy storage systems and smart energy solutions, aiming to create a zero-carbon energy ecosystem by connecting the entire supply chain from materials to applications [1].

Industry Overview - The domestic wire and cable industry chain is mature, with a wide range of downstream applications including engineering machinery, telecommunications, power, and construction [1] - The upstream materials for wire and cable production include copper, aluminum, and their alloys, as well as rubber and chemical industries for insulation materials [1][2] Key Companies - Major upstream suppliers include Tongling Nonferrous Metals Group, Chuanjiang New Materials, and Hailiang Co., Ltd. [2] - Key midstream manufacturers of power cables include TBEA and Qingdao Hancable, while major manufacturers of communication cables include Zhongtian Technology and Hengtong Group [2] Regional Distribution - The wire and cable companies are primarily located in economically developed eastern coastal regions, with Hebei, Guangdong, Zhejiang, and Shandong being the main provinces [5] - As of March 31, 2025, Hebei has 3,944 related wire and cable companies, while Guangdong and Zhejiang have 3,507 and 2,464 respectively [5] Market Dynamics - The industry has formed a coastal wire and cable equipment industrial circle, particularly in Jiangsu and Zhejiang, reflecting strong manufacturing capabilities and developed capital markets in these regions [8] - A total of 38 publicly listed companies in the wire and cable sector are distributed across 14 provinces, with Jiangsu having the highest number at 9 [7]

| | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 业绩说明会  | | 投资者关系 | □新闻发布会 □路演活动 | | 活动类别 | □现场参观 | | | 其他 | | 活动参与人 | 通过登录"互动易"网站（http://irm.cninfo.com.cn）进入"云 | | 员 | 访谈"栏目参与本次业绩说明会的投资者 | | 时间 | 2025 年 4 月 25 日 | | 地点 | "互动易"网站（http://irm.cninfo.com.cn）"云访谈"栏目 | | | 董事长：郑有水先生 | | 上市公司接 | 董事、副总经理：陆枝才先生 | | 待人员姓名 | 财务总监：赵雯亮女士 | | | 独立董事：丁海芳女士、彭松先生、吴爽先生 | | 形式 | 网络互动方式 | | | 本次业绩说明会通过网络平台文字交流的方式与投资者进行 | | | 沟通，主要内容如下： | | | 1.高管您好，请问贵公司未来盈利增长的主要驱动因素有哪些？ | | | 谢谢。 | | | 答：尊敬的投资者，您好。公司不断提升自身经营管理水平，持 | | 交流内容及 | ...

Core Insights - The overall R&D investment in the wire and cable industry has been increasing, with a focus on areas such as new energy and submarine cables [1][2] - The industry has seen a decline in patent application activity recently, with a concentration on conductive, insulating, or dielectric materials [4][6] - The application of new materials and clean energy demands is driving technological advancements in the wire and cable sector [10][11] R&D Investment Trends - R&D investments among major listed companies in the wire and cable industry have generally risen, with significant fluctuations observed in companies like Baoshan Co. and Jinbei Electric [1] - Key R&D directions include photovoltaic, electric vehicles, nuclear power plants, and submarine cables, indicating these areas are becoming increasingly important [2] Patent Application Activity - The number of patent applications in the wire and cable manufacturing sector has shown a fluctuating trend, peaking at 4,422 in 2020 and dropping to 2,195 in 2024 [4] - As of the first quarter of 2025, the most patents were filed in the field of cable conductors and insulating materials, totaling 10,580 [7] Technological Advancements - The wire and cable industry has made significant technological progress, particularly in the application of new materials and processes [10] - The development of new materials such as carbon fiber, graphene, and high-voltage direct current cable insulation has enhanced product safety and reliability [11] - The demand for clean energy and low-carbon economy initiatives is leading to the creation of new wire and cable products that meet specific requirements for renewable energy applications [11]

1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息 的真实、准确、完整。 3.第一季度报告是否经审计 □是 √否 一、主要财务数据 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002882 证券简称：金龙羽 公告编号：2025-042 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。 重要内容提示： （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 √否 ■ （二） 非经常性损益项目和金额 √适用 □不适用 单位：元 ■ 其他符合非经常性损益定义的损益项目的具体情况 □适用 √不适用 公司不存在其他符合非经常性损益定义的损益项目的具体情况。 将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》中列举的非经常性损益项目界 定为经常性损益项目的情况说明 □适用 √不适用 公司不存在将《公开发行证券的公司信息披露解释性公告第 ...

一、说明会召开时间和方式 召开时间：2025 年 4 月 25 日（星期五）15:00 至 16:30 召开方式：网络互动方式 证券代码：002882 证券简称：金龙羽 公告编号：2025-043 金龙羽集团股份有限公司 关于召开 2024 年度暨 2025 年第一季度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 金龙羽集团股份有限公司（以下简称"公司"）于 2025 年 4 月 3 日披露了 《2024 年年度报告》及《2024 年年度报告摘要》，于 2025 年 4 月 23 日披露了 《2025 年第一季度报告》，具体内容详见公司在指定信息披露媒体巨潮资讯网 （http://www.cninfo.com.cn）、《证券时报》《中国证券报》《证券日报》及 《上海证券报》披露的公告。为让广大投资者进一步了解公司 2024 年度及 2025 年第一季度业绩及经营情况，公司将于 2025 年 4 月 25 日（星期五）举办 2024 年度暨 2025 年第一季度网上业绩说明会，具体安排如下： 2、为充分尊重投资者、提升交流的针对性，现就公 ...

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。 金龙羽集团股份有限公司（以下简称"公司"）董事会于 2025 年 4 月 22 日 收到公司董事会秘书、副总经理吉杏丹女士的书面辞职报告，吉杏丹女士因个人 原因申请辞去公司董事会秘书、副总经理职务。吉杏丹女士辞职后，不再担任公 司及控股子公司的任何职务。 证券代码：002882 证券简称：金龙羽 公告编号：2025-044 金龙羽集团股份有限公司 关于公司董事会秘书辞职的公告 传真：0755-28475155 2025 年 4 月 23 日 电子邮箱：zqb@szjly.com 联系地址：深圳市龙岗区坂田街道五和大道 118 号和成世纪名园 3A 21 楼 特此公告。 金龙羽集团股份有限公司 截至本公告披露日，吉杏丹女士持有公司股份 28 万股，占公司总股本的 0.06%。吉杏丹女士承诺：不再担任公司董事会秘书、副总经理后半年内，不转 让持有的公司股份。本次辞职后，吉杏丹女士将继续遵守《上市公司股东减持股 份管理暂行办法》《深圳证券交易所上市公司自律监管指引第 18 号——股东及 董事、高级管理人员减持股份》等相 ...