Investment Rating - The industry investment rating is optimistic (maintained) [1] Core Insights - The report highlights that copper interconnect technology has become a key factor in enhancing data center performance, with a growing market share due to its low cost and low power consumption advantages in short-distance connections [4][13] - The demand for high-speed copper cables is significantly driven by the AI boom, particularly with the increasing computational needs of data centers and the adoption of NVIDIA's GB200 solutions [22][41] - The report emphasizes the rapid growth of the AEC (Active Electrical Cable) sector, which is expected to achieve a compound annual growth rate (CAGR) of 45% from 2023 to 2028, indicating a robust market opportunity [26][84] Summary by Sections Section 1: Copper Interconnect Technology - Copper interconnect technology is crucial for improving data center performance, with various connection solutions available [13] - The report discusses the advantages of copper cables over fiber optics in specific applications, particularly in short-distance connections within data centers [17][18] Section 2: AI and Copper Cable Demand - The rise of generative AI models like ChatGPT has led to an exponential increase in computational power requirements, driving demand for copper interconnect solutions [22][29] - NVIDIA's GB200 architecture utilizes copper interconnects extensively, enhancing performance and reducing power consumption compared to previous solutions [41][50] Section 3: Data Center Growth and Copper Demand - Global data center energy consumption is projected to rise significantly, with copper interconnects offering low power consumption advantages [60][67] - The report notes that the increasing operational costs of data centers necessitate efficient transmission solutions, where copper interconnects provide a cost-effective alternative [63][67] Section 4: High-Speed Copper Cable Market - The high-speed copper cable market is characterized by strong internal and external demand, with diverse application scenarios [75][76] - The AEC supply chain is detailed, highlighting the importance of upstream components like chips and cables, and the involvement of major players in the industry [88][89] Section 5: Investment Recommendations - The report suggests focusing on leading companies in the copper cable connector industry, including Huafeng Technology, Ruikeda, and Lixun Precision, among others, which are well-positioned to benefit from the growing demand [6][75]

Core Viewpoint - Shen Yu Communication Technology Co., Ltd. is applying to issue convertible bonds to unspecified objects and list them on the Growth Enterprise Market, with Huatai United Securities as the sponsor [1][2][3] Group 1: Issuer Information - Shen Yu Communication specializes in the development, production, and sales of coaxial cables, special cables, connectors, and microwave antennas [4][5] - The company is recognized as a national "little giant" enterprise and has established several technology research centers [14] - The company has maintained stable revenue growth and good financial health, indicating sustainable operational capability [14] Group 2: Bond Issuance Details - The proposed issuance amount is up to RMB 500 million, intended for the "smart field data line construction project" [23][27] - The bonds will have a term of six years and will be issued at a face value of RMB 100 each [28][27] - The interest rate will be determined based on market conditions and will be paid annually [28][29] Group 3: Compliance and Governance - The issuer has established a sound corporate governance structure, including a board of directors and various committees [11][16] - The company has complied with all relevant laws and regulations regarding the issuance of securities [11][12] - The internal control system is robust, ensuring accurate financial reporting and compliance with accounting standards [18][19] Group 4: Financial Performance - The net profits attributable to the parent company for 2022, 2023, and 2024 were reported as follows: 2022: RMB X million, 2023: RMB Y million, 2024: RMB Z million [12][16] - The company's asset-liability ratios were 27.28%, 18.11%, and X% for the respective years, indicating a healthy financial structure [16][12] Group 5: Risk Management - The company has no significant legal disputes or adverse conditions that could impact its ongoing operations [17][21] - The issuer has conducted thorough due diligence to ensure compliance with all regulatory requirements [8][9]

上市保荐书 华泰联合证券有限责任公司关于 神宇通信科技股份公司向不特定对象发行可转换公司债券 并创业板上市之上市保荐书 深圳证券交易所： 作为神宇通信科技股份公司（以下简称"发行人"、"公司"）向不特定对象 发行可转换公司债券并在创业板上市的保荐人，华泰联合证券有限责任公司及其 保荐代表人已根据《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》）等法律法规和中国证券监督管理委员会（以 下简称中国证监会）及贵所的有关规定，诚实守信，勤勉尽责，严格按照依法制 定的业务规则和行业自律规范出具上市保荐书，并保证所出具文件真实、准确、 完整。 现将有关情况报告如下： 一、发行人基本情况 （一）发行人概况 发行人名称：神宇通信科技股份公司 注册地址：江苏省无锡市江阴市长山大道 22 号 注册时间：2003 年 8 月 6 日 联系方式：0510-86279909 （二）发行人的主营业务 公司是专业从事同轴电缆的研发、生产和销售的高新技术企业，致力于打造 成国内一流、国际知名的同轴电缆行业的领先企业。自创立以来，公司始终专注 于同轴电缆制造本业，高度重视经营质量，紧跟行业发展的步 ...

神 宇 通 信 科 技 股 份 公 司 审计报告 天职业字[2023]19490 号 四 录 -- 审计报告 --- -- 2022 年度财务报表 2022 年度财务报表附注 -- -- 18 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://scc.mof.gov.cn）"进行查理 6-1-1 审计报告 天职业字[2023]19490 号 神宇通信科技股份公司全体股东: 一、审计意见 我们审计了神宇通信科技股份公司(以下简称"神宇股份")财务报表,包括 2022年12月 31 日的合并及母公司资产负债表,2022年度的合并及母公司利润表、合并及母公司现金流量 表、合并及母公司股东权益变动表,以及财务报表附注。 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制,公允反映了神 宇股份 2022 年 12 月 31 日的合并及母公司财务状况以及 2022 年度的合并及母公司经营成果和 现金流量。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册会计师对财 务报表审计的责任"部分进一步阐述了我们在这些准则下的责任。按照中国注册会计师职 ...

上海市广发律师事务所 关于神宇通信科技股份公司 向不特定对象发行可转换公司债券的 法律意见 电话：021-58358013 | 传真：021-58358012 网址：http://www.gffirm.com | 电子信箱：gf@gffirm.com 办公地址：上海市南泉北路 429 号泰康保险大厦 26 楼 | 邮政编码：200120 | 一、关于发行人本次发行的批准和授权 | 6 | | --- | --- | | 二、关于发行人本次发行的主体资格 | 6 | | 三、关于发行人本次发行的实质条件 | 7 | | 四、关于发行人的设立 | 13 | | 五、关于发行人的独立性 | 14 | | 六、关于发行人的发起人和股东 | 17 | | 七、关于发行人的股本及其演变 | 19 | | 八、关于发行人的业务 | 21 | | 九、关于关联交易及同业竞争 | 22 | | 十、关于发行人的主要财产 | 34 | | 十一、关于发行人的重大债权债务 | 37 | | 十二、关于发行人的重大资产变化及收购兼并 | 38 | | 十三、关于发行人公司章程的制定与修改 | 39 | | 十四、关于发行人股东大会、 ...

关于神宇通信科技股份公司 向不特定对象发行可转换公司债券并在 创业板上市之 发行保荐书 保荐人（主承销商） （深圳市前海深港合作区南山街道桂湾五路128号前海深港基金小镇B7栋401） 发行保荐书 华泰联合证券有限责任公司 关于神宇通信科技股份公司向不特定对象 发行可转换公司债券并在创业板上市之 发行保荐书 神宇通信科技股份公司（以下简称"发行人"、"神宇股份"）申请向不特定 对象发行可转换公司债券并在创业板上市，依据《公司法》《证券法》《上市公司 证券发行注册管理办法》（以下简称《再融资注册办法》）等相关的法律、法规的 有关规定，提交发行申请文件。华泰联合证券有限责任公司(以下简称"华泰联 合证券"、"保荐人")作为其本次发行的保荐人，吕复星和李骏作为具体负责推 荐的保荐代表人，特为其出具本发行保荐书。 保荐人华泰联合证券、保荐代表人吕复星和李骏承诺：本保荐人和保荐代表 人根据《公司法》《证券法》等有关法律、法规和中国证监会、深圳证券交易所 的有关规定，诚实守信、勤勉尽责，严格按照依法制定的业务规则、行业执业规 范和道德准则出具本发行保荐书，并保证所出具文件的真实性、准确性和完整性。 3-1-1 发行保荐书 ...

股票简称：神宇股份 股票代码：300563 神宇通信科技股份公司 （Shenyu Communication Technology Inc.） （江苏省江阴市长山大道 22 号） 向不特定对象发行可转换公司债券并在 创业板上市 募集说明书 保荐机构（主承销商） （深圳市前海深港合作区南山街道桂湾五路128号前海深港基金小镇B7栋401） 公告日期：2025 年 6 月 声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对申请 文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的 盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之相反 的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由发 行人自行负责。投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担证券依法发行后因发行人经营与收益变化或者证券价格变动引致的投资风险。 1-1-1 重大事项提示 本公司特别提请投资者注意，在作出投资决策之前，务必仔细阅读本募集说 明书正文内容，并特别关注以下重要事项。 一、特别风险提示 本公司提请投资者仔细阅读本募集说明书"第三节 ...

神宇通信科技股份公司 关于向不特定对象发行可转换公司债券申请获得深圳证券交易所受理的公告 证券代码：300563 证券简称：神宇股份 公告编号：2025-046 神宇通信科技股份公司 董事会 二〇二五年七月四日 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。 神宇通信科技股份公司（以下简称"公司"）于 2025 年 7 月 3 日收到深圳证券 交易所（以下简称"深交所"）出具的《关于受理神宇通信科技股份公司向不特定 对象发行可转换公司债券申请文件的通知》（深证上审〔2025〕128 号）。深交所对 公司报送的向不特定对象发行可转换公司债券的申请文件进行了核对，认为申请文 件齐备，决定予以受理。 公司本次向不特定对象发行可转换公司债券事项尚需深交所审核，并获得中国 证券监督管理委员会（以下简称"证监会"）作出同意注册的决定后方可实施。公 司本次向不特定对象发行可转换公司债券的事项最终能否通过深交所审核并获得证 监会作出同意注册的批复及其时间尚存在不确定性。公司将根据该事项的进展情况， 按照相关法律法规规定和要求及时履行信息披露义务，敬请广大投资者注意投资风 险。 ...

Core Viewpoint - The A-share computing hardware sector is experiencing strong performance, driven by the rapid development of artificial intelligence technology and positive market expectations from overseas markets like Nvidia [1][2]. Group 1: Market Performance - The A-share computing hardware sector has shown robust performance, with companies like Huadian and Jingwang Electronics reaching historical highs [1]. - Yihua New Materials' stock surged over 10%, while Jin'an Guoji successfully hit the daily limit [1]. - Several other stocks, including Aoshikang and Dongcai Technology, also recorded gains exceeding 5% [1]. Group 2: Industry Drivers - The computing hardware industry is benefiting from the rapid growth of AI technology, with PCB playing a crucial role in AI servers and high-performance computing systems [1]. - The demand for high-end PCBs is surging, leading to increased demand for upstream high-end materials, creating a supply-demand imbalance [1]. Group 3: Supply Chain Dynamics - There is a growing scarcity of high-layer and high-density interconnect (HDI) capacity, as well as a shortage of high-end material supply in the industry chain [1]. - This supply-demand imbalance presents opportunities for related companies to achieve explosive growth in performance [1]. Group 4: Infrastructure Demand - The demand for computing infrastructure is continuously increasing, with leading domestic and international manufacturers ramping up efforts to meet the surging demand for computing power [2]. - The ASIC market's growth expectations are being continuously revised upward, supporting the high prosperity of the PCB industry chain [2].

Core Viewpoint - Copper cable high-speed connection concept stocks are experiencing a surge, with notable increases in share prices for several companies [1] Group 1: Company Performance - Woer (002130) reached the daily limit increase [1] - Shenyu Co., Ltd. (300563) rose over 8% [1] - Zhaolong Interconnect (300913), Dingtong Technology, and Shenglan Co., Ltd. (300843) also saw price increases [1] Group 2: Market Activity - Dark pool funds are flowing into these stocks, indicating increased investor interest [1]