Company Overview - The company, Electric Alloy (300697), recently experienced a significant outflow of main funds after its stock price reached a historical high [1] - The actual controller changed to the Xiamen State-owned Assets Supervision and Administration Commission, leading to a growth trend in performance [5] Stock Performance - On January 29, 2026, Electric Alloy's stock price hit a record high of 20.64 yuan, with a daily increase of 5.31%, resulting in a total market capitalization of 8.93 billion yuan [2] - For the first three quarters of 2025, the company reported revenue of 2.293 billion yuan, a year-on-year increase of 25.11%, and a net profit of 127 million yuan, up 38.45% year-on-year [2] - On February 2, 2026, the company saw a net outflow of main funds amounting to 43.5 million yuan, with the stock price dropping by 8.82% on that day [2] Financial Status - On November 19, 2025, the company corrected its third-quarter financial report due to consolidation offset errors, reducing total assets and total liabilities by 50 million yuan each, resulting in total assets of approximately 2.164 billion yuan and a decrease in the debt-to-asset ratio from 44.43% to 43.14% [3] Convertible Bond Plan - In August 2025, the company announced plans to issue convertible bonds to raise no more than 545 million yuan, intended for a high-performance copper material project, working capital, and repaying bank loans, with 157 million yuan allocated for loan repayment [4] Industry Policy Context - In December 2025, the National Development and Reform Commission released policies to promote the upgrading of traditional industries towards high-end and green development, which may benefit Electric Alloy due to its main products being copper alloy materials used in power grid upgrades, rail transit, and new energy sectors [6]

证券代码：300697 证券简称：电工合金 公告编号：2026-001 江阴电工合金股份有限公司 关于向不特定对象发行可转换公司债券的审核问询函回复 及募集说明书等申请文件更新的提示性公告 公司收到审核问询函后，会同相关中介机构结合公司情况就审核问询函中提 出的问题进行了认真研究和回复，并对募集说明书等相关申请文件内容进行了更 新，具体内容详见公司于 2026 年 2 月 10 日在中国证券监督管理委员会（以下简 称"中国证监会"）指定信息披露媒体巨潮资讯网（http://www.cninfo.com.cn） 上披露的相关公告。 公司本次向不特定对象发行可转换公司债券事项尚需通过深交所审核，并获 得中国证监会同意注册后方可实施，最终能否通过深交所审核并获得中国证监会 同意注册的批复及其时间尚存在不确定性。公司将根据该事项进展情况，严格按 照相关法律法规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。 特此公告。 江阴电工合金股份有限公司 董 事 会 二〇二六年二月十日 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。 江阴电工合金股份有限公司（以下简称"公 ...

上海市广发律师事务所 关于江阴电工合金股份有限公司 向不特定对象发行可转换公司债券的 补充法律意见（一） 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：上海市浦东新区南泉北路 429 号泰康保险大厦 26 楼 | 邮政编码：200120 上海市广发律师事务所 关于江阴电工合金股份有限公司 向不特定对象发行可转换公司债券的补充法律意见（一） 致：江阴电工合金股份有限公司 上海市广发律师事务所（以下简称"本所"）接受江阴电工合金股份有限公 司（以下简称"发行人"或"公司"）的委托，作为发行人申请向不特定对象发 行可转换公司债券工作的专项法律顾问，已于 2025 年 12 月 24 日出具了《上海 市广发律师事务所关于江阴电工合金股份有限公司向不特定对象发行可转换公 司债券的律师工作报告》（以下简称"《律师工作报告》"）及《上海市广发律 师事务所关于江阴电工合金股份有限公司向不特定对象发行可转换公司债券的 法律意见》（以下简称"《法律意见》"）。 鉴于深圳证券交易所下发了《关于江阴电工合金股份 ...

股票简称：电工合金 股票代码：300697 江阴电工合金股份有限公司 Jiangyin Electrical Alloy Co., Ltd. （江阴市周庄镇世纪大道北段 398 号） 向不特定对象发行可转换公司债券 募集说明书 （申报稿） 保荐机构（主承销商） （注册地址：成都市青羊区东城根上街 95 号） 二〇二六年二月 江阴电工合金股份有限公司 募集说明书 声 明 中国证监会、深圳证券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 江阴电工合金股份有限公司 募集说明书 重大事项提示 本公司特别提醒投资者注意，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、关于本次可转换公司 ...

关于江阴电工合金股份有限公司 申请向不特定对象发行可转换公司债券的审 核问询函中有关财务会计问题的专项说明 容诚专字[2026]510Z0043 号 容诚会计师事务所(特殊普通合伙) 中国·北京 关于江阴电工合金股份有限公司 申请向不特定对象发行可转换公司债券中有关财务会计问题的 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 1001-26 (100037) TEL:010-6600 1391 FAX:010-6600 1392 E-mail:bj@rsmchina.com.cn https://www.rsm.global/china/ 专项说明 容诚专字[2026]510Z0043 号 深圳证券交易所： 江阴电工合金股份有限公司（以下简称"电工合金""发行人"或"公司"）于 2026 年 1 月 21 日收到贵所出具的《关于江阴电工合金股份有限公司申请向不 特定对象发行可转换公司债券的审核问询函》(审核函〔2026〕020003 号)（以 下简称"问询函"）的要求，容诚会计师事务所（特殊普通合伙）（以下简称 "申报会计师"或"我们"）对问询 ...

江阴电工合金股份有限公司 Jiangyin Electrical Alloy Co., Ltd. （江阴市周庄镇世纪大道北段 398 号） 及 国金证券股份有限公司 关于江阴电工合金股份有限公司申请 向不特定对象发行可转换公司债券 的审核问询函的回复 保荐人（主承销商） （四川省成都市东城根上街 95 号） 深圳证券交易所： 贵所于 2026 年 1 月 21 日出具的《关于江阴电工合金股份有限公司申请向不 特定对象发行可转换公司债券的审核问询函》（审核函〔2026〕020003 号，以 下简称"《审核问询函》"）已收悉，国金证券股份有限公司作为保荐人和主承 销商，与发行人、发行人律师及申报会计师对《审核问询函》所列问题认真进行 了逐项落实，同时按照《审核问询函》的要求对《江阴电工合金股份有限公司向 不特定对象发行可转换公司债券募集说明书（申报稿）》（以下简称"募集说明 书"）进行了修订，现回复如下，请予审核。 如无特别说明，本回复报告中的简称或名词释义与募集说明书一致。 本问询函回复中的字体： | 审核问询函所列问题 | 黑体（不加粗） | | --- | --- | | 审核问询函所列问题的回复 | 宋体 ...

Core Viewpoint - The non-ferrous copper sector has experienced a strong rally, with several key stocks reaching their daily limit up, indicating significant investor interest and potential growth in this industry. Group 1: Key Companies and Their Performance - Silver (core stock) YS (601212.SH) latest stock price: 15.19 yuan, daily increase: +10.00% (limit up), covers the entire copper-lead-zinc mining and smelting industry chain, with rich copper resources including the domestic Huoyanshan mine and the acquired Cerro Verde copper mine in Peru [1] - Yuguang Gold Lead (600531.SH) latest stock price: 24.97 yuan, daily increase: +10.00% (5 consecutive limit ups), specializes in lead, zinc, copper smelting, and precious metal recycling, with internationally leading "double-bottom blowing continuous copper smelting" technology [2] - Western Gold (601069.SH) latest stock price: 48.69 yuan, daily increase: +10.00% (limit up), besides its main gold business, it has a stake in the Xinjiang Meide Kangte Bahasu copper polymetallic mine with rich copper reserves [3] - Northern Copper Industry (000737.SZ) latest stock price: 12.87 yuan, daily increase: +10.00% (limit up), the largest copper mining and smelting enterprise in North China, with significant potential for new resources in the deep layers of the copper mine [4] - Tongling Nonferrous Metals (000630.SZ) latest stock price: 9.19 yuan, daily increase: +10.00% (limit up), known as the "cradle of copper industry in New China," leading in domestic cathode copper production capacity, with rich copper reserves including the domestic and Ecuadorian Mirador copper mines [5] - Yunnan Copper (000878.SZ) latest stock price: 13.79 yuan, daily increase: +8.70%, the second-largest copper smelting enterprise under Chinalco, with three major smelting bases and rich resources including the planned acquisition of the Pulang copper mine [6] - Feinan Resources (301500.SZ) latest stock price: 31.34 yuan, daily increase: +10.00% (limit up), a leader in hazardous waste disposal and recycling of non-ferrous metals, producing electrolytic copper through recycling waste copper [8] - Jiangxi Copper (600362.SH) latest stock price: 28.52 yuan, daily increase: +7.84%, the largest copper production base and cathode copper supplier in China, with a complete industry chain and actively acquiring large copper mine projects in Ecuador [9] - Electric Alloy (300697.SZ) latest stock price: 16.66 yuan, daily increase: +5.18%, a well-known domestic producer of copper alloy products, serving major international manufacturers like Schneider and ABB [10] - Hunan Silver (core stock) (002716.SZ) latest stock price: 5.04 yuan, daily increase: +10.04% (limit up), specializes in silver and electrolytic copper, with core mining operations at Baoshan Mining's Yanggui lead-zinc mine, which has associated copper resources [11] - Zhongjin Gold (600489.SH) latest stock price: 13.99 yuan, daily increase: +6.30%, primarily focused on gold, with abundant associated copper resources from its mines in Inner Mongolia and Tibet [12] - Zinc Industry Co., Ltd. (000751.SZ) latest stock price: 3.33 yuan, daily increase: +9.90%, specializes in zinc smelting and comprehensive recovery of copper, gold, silver, and other valuable metals [13] - Hengbang Co., Ltd. (002237.SZ) latest stock price: 14.48 yuan, daily increase: +9.98%, focused on gold smelting with a by-product of electrolytic copper, with an annual capacity of 65,000 tons [15] - Jincheng Mining (603979.SH) latest stock price: 51.67 yuan, daily increase: +10.00% (limit up), driven by "mining services + resources," with key copper projects in Congo (Kinshasa), Zambia, and Colombia [16] - Western Mining (601168.SH) latest stock price: 21.07 yuan, daily increase: +10.00% (limit up), one of the largest non-ferrous metal mining companies in the west, owning the Yulong copper mine, the second-largest single copper mine in China [17]

Group 1 - The industrial metal sector increased by 2.62% on January 29, with Yiqiu Resources leading the gains [1] - The Shanghai Composite Index closed at 4157.98, up 0.16%, while the Shenzhen Component Index closed at 14300.08, down 0.3% [1] - Notable gainers in the industrial metal sector included Yiqiu Resources, which rose by 10.08% to a closing price of 4.37, and Tongling Nonferrous Metals, which increased by 10.06% to 9.19 [1] Group 2 - The industrial metal sector experienced a net outflow of 7.772 billion yuan from institutional investors, while retail investors saw a net inflow of 6.846 billion yuan [2] - The top losers in the industrial metal sector included Yian Technology, which fell by 6.03% to a closing price of 16.82, and Guocheng Mining, which decreased by 5.63% to 29.14 [2] Group 3 - Major stocks with significant net inflows included Ding Sheng New Materials, which had a net inflow of 138 million yuan, and Yiqiu Resources with a net inflow of 128 million yuan [3] - Conversely, stocks like Yunnan Copper experienced a net outflow of 226 million yuan from speculative funds [3]

Core Viewpoint - The company Electric Alloy (300697) has shown a significant increase in stock price and trading volume, indicating positive market sentiment and potential growth opportunities in the context of rising demand for copper and alloys due to global infrastructure developments and technological advancements [1][3]. Group 1: Company Performance - As of January 28, 2026, Electric Alloy's stock closed at 19.6 yuan, marking an 8.11% increase with a turnover rate of 28.0% and a trading volume of 564,200 shares, resulting in a transaction value of 1.083 billion yuan [1]. - On the same day, the net inflow of main funds was 83.9975 million yuan, while retail investors experienced a net outflow of 1.04 billion yuan, suggesting a shift in investor confidence towards institutional investors [3]. Group 2: Strategic Business Insights - The company has no current intentions to acquire upstream mineral resources, focusing instead on enhancing its core business and product competitiveness in response to industry trends [2]. - The company’s copper material business, represented by Xiamen Copper Power New Materials Co., aims to leverage the local electric power distribution industry's advantages to produce high-quality copper busbars and components, which are essential for emerging industries such as data centers and low-voltage electrical equipment [2].

格隆汇1月28日丨电工合金(300697.SZ)在投资者互动平台表示，公司暂无收购上游矿产资源的投资意 向。公司将结合行业发展趋势及自身技术优势，持续推进主营业务发展，致力于提升产品核心竞争力。 ...