证券代码：300913 证券简称：兆龙互连 公告编号：2025-076 浙江兆龙互连科技股份有限公司 关于完成工商变更登记的公告 成立日期：1995 年 08 月 21 日 住所：浙江省德清县新市镇士林工业区 经营范围：一般项目：新材料技术研发；物联网技术研发；信息系统集成服 务；电线、电缆经营；电子元器件制造；电子元器件零售；机械电气设备制造； 通信设备制造；光通信设备制造；光通信设备销售；光电子器件制造；光电子器 件销售；光缆制造；光缆销售；光纤制造；光纤销售；电力电子元器件制造；电 力电子元器件销售；智能车载设备制造；计算机软硬件及外围设备制造；云计算 设备制造；网络设备制造；模具制造；模具销售；机械零件、零部件加工；机械 零件、零部件销售；技术服务、技术开发、技术咨询、技术交流、技术转让、技 1 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。 浙江兆龙互连科技股份有限公司（以下简称"公司"）分别于 2025 年 10 月 28 日、2025 年 11 月 14 日召开了第三届董事会第十三次会议及 2025 年第三 次临时股东大会，审议通过了《关于变更公 ...

Core Viewpoint - The company, Zhaolong Interconnect (300913), confirmed that its production and operations are normal and there are no circumstances triggering delisting risk warnings as per the Shenzhen Stock Exchange's rules [1] Group 1 - The company is currently operating normally [1] - There are no delisting risk warnings applicable to the company [1] - The company adheres to the Shenzhen Stock Exchange's listing rules [1]

Group 1 - The company, Zhaolong Interconnect (300913), plans to continuously follow the development trends of computing networks and artificial intelligence [1] - The company will increase research and development investment in the optical product field [1] - The company aims to expand product application scenarios and enhance core technological competitiveness [1]

Group 1 - The company has developed comprehensive technical reserves and industrialization capabilities to provide tailored product solutions based on different application scenarios [2] - The company emphasizes a combination of independent research and process optimization, resulting in core foaming technology that meets the performance requirements of various specifications of high-speed cable products [2] - This approach effectively ensures the consistency of product performance across its product system [2]

Core Viewpoint - The company has demonstrated stable operations in recent years, with projected revenue and profit growth rates indicating a positive outlook for the future [2] Financial Performance - The compound annual growth rate (CAGR) for total revenue from 2021 to 2024 is expected to be 8% [2] - The net profit CAGR for the same period is projected to be 20% [2] - For the first nine months of 2025, the company reported a revenue of 1.518 billion yuan, representing a year-on-year increase of 13.28% [2] - The net profit for the same period was 138 million yuan, showing a significant year-on-year growth of 53.82% [2] Strategic Focus - The company aims to enhance its operational management and profitability [2] - There is a commitment to creating long-term value for shareholders and society [2]

Group 1 - The company, Zhaolong Interconnect, stated that the selected equipment is at an advanced level within the industry, featuring core advantages such as high-precision temperature control and stable extrusion rate control [2] - These technological capabilities are designed to fully meet the production process requirements for the company's high-speed copper cable products, ensuring a solid guarantee for product quality [2]

Core Viewpoint - The company has demonstrated stable operations with a compound annual growth rate (CAGR) of 8% in total revenue and 20% in net profit from 2021 to 2024 [1] Financial Performance - For the period of January to September 2025, the company's revenue reached 1.518 billion yuan, reflecting a year-on-year growth of 13.28% [1] - The net profit for the same period was 138 million yuan, showing a significant year-on-year increase of 53.82% [1] Management Efficiency - The company is committed to enhancing its operational management and profitability, aiming to create long-term value for shareholders and society [1]

Core Viewpoint - The company is actively monitoring the development and application of 6G technology and is looking to capitalize on market opportunities arising from technological iterations [1] Group 1 - The Ministry of Industry and Information Technology has announced that China has conducted 6G technology trials for four consecutive years and has completed the first phase of these trials [1] - The company is involved in the 6G technology landscape and is strategically positioning itself in relation to relevant technologies and products [1]

Core Viewpoint - The company, Zhejiang Zhaolong Interconnect Technology Co., Ltd., is experiencing growth in revenue and profit, driven by its technological advancements in high-speed cables and optical products, as well as benefiting from the depreciation of the RMB [2][3][7]. Company Overview - Zhejiang Zhaolong Interconnect was established on August 21, 1995, and went public on December 7, 2020. The company specializes in the design, manufacturing, and sales of data cables, specialized cables, and connection products [7]. - The revenue composition includes: 43.60% from category 6 and below data communication cables, 20.81% from category 6A and above, 18.04% from specialized cables, 11.62% from connection products, and 5.94% from other sources [7]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.518 billion yuan, representing a year-on-year growth of 13.28%. The net profit attributable to the parent company was 138 million yuan, with a year-on-year increase of 53.82% [7]. - The company has distributed a total of 113 million yuan in dividends since its A-share listing, with 82.34 million yuan distributed over the past three years [8]. Market Position and Strategy - The company has established itself as a core partner in the active cable (AEC) sector for leading international interconnect solution providers, leveraging its technological expertise in high-speed cable [2]. - The company’s optical products serve high-end domestic markets, including financial systems, higher education, and healthcare, while also expanding into overseas markets [2]. - Zhaolong Interconnect is one of the few companies capable of designing and manufacturing data cables up to category 8, meeting the new data transmission demands of the 5G era [2]. Shareholder and Market Activity - As of September 30, 2025, the number of shareholders increased to 38,100, with an average of 6,721 shares per shareholder, a decrease of 7.49% from the previous period [7]. - The stock has seen a net outflow of 3.5246 million yuan from major investors today, with a total of 15.63 billion yuan net inflow in the industry, indicating a lack of clear trend in major investor activity [4][5].

Core Insights - The servo cable market is projected to reach $170 million by 2031, with a compound annual growth rate (CAGR) of 7.5%, driven by the rapid expansion of the market and competitive dynamics in the supply chain [1] - The growth of the servo harness market is fueled by increasing industrial automation and technological innovations, with a significant demand for high-quality servo cables [2][3] - Domestic suppliers are gaining a competitive edge through technological breakthroughs and service advantages, particularly in the context of the accelerating trend of domestic substitution [5][9] Market Dynamics - The demand for servo harnesses is driven by the increasing penetration of industrial automation, with predictions that 400-800 million jobs globally will be replaced by automation technologies by 2030 [2] - The supply side is characterized by technological innovations, with the new generation of composite servo cables, particularly those with PUR (polyurethane) sheathing, dominating the market with a 46.1% market share due to their durability and adaptability [2] Application and Regional Insights - Industrial automation accounts for 69.4% of the demand for servo harnesses, covering critical applications such as CNC machine spindle drives and industrial robot joints [3] - China, Japan, South Korea, and Western Europe are the main markets, with China expected to exceed 250 billion RMB in industrial automation market size by 2025, representing over one-third of the global market [3] Supplier Evaluation and Competitive Landscape - A comprehensive evaluation framework for servo harness suppliers includes four dimensions: technical capability, quality assurance, service responsiveness, and cost-effectiveness [4] - International brands like Igus, LAPP Group, and HELUKABEL maintain a leading position in high-end manufacturing but face challenges due to higher prices and longer delivery times compared to local suppliers like Pinlian Electronics [4][5] Technological Trends and Recommendations - The servo harness industry is evolving towards three main trends: intelligence, lightweight design, and modularity [8] - Experts recommend selecting suppliers based on specific application scenarios, with international brands preferred for high-end precision manufacturing and local suppliers like Pinlian Electronics favored for general industrial automation due to their performance and cost advantages [8] Industry Collaboration and Future Outlook - The strategic importance of servo harnesses is increasing as they are seen as the "nervous system" of motion control systems, with a competitive landscape emerging between international brands and rapidly rising domestic companies [9] - Establishing a supplier evaluation system and fostering long-term partnerships with quality suppliers is crucial for managing the entire lifecycle of equipment and supporting high-quality development in the industrial automation sector [9]