证券代码：301217 证券简称：铜冠铜箔 公告编号：2025-044 安徽铜冠铜箔集团股份有限公司 关于 2025 年中期利润分配预案的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、安徽铜冠铜箔集团股份有限公司（以下简称"公司"）2025 年中期利润 分配预案为：以股本 826,015,644 股（公司总股本为 829,015,544 股,其中通过 回购专用账户持有的股份为 2,999,900 股）为基数，向全体股东每 10 股派发现 金红利 0.2 元（含税），共计派发 16,520,312.88 元人民币（含税），不送红股， 不进行资本公积金转增股本，剩余未分配利润结转以后年度。 本次权益分派为现金分红，不涉及股本变更。若本次利润分配预案披露日至 实施该方案的股权登记日期间，如享有利润分配权的股本总数发生变动，则以实 施分配方案时股权登记日的享有利润分配权的股本总数为基数，按照分配比例不 变的原则对分配总额进行调整。 2、公司现金分红方案不涉及《深圳证券交易所创业板股票上市规则》规定 的可能被实施其他风险警示情形。 一、审议程序 ...

截至8月15日收盘，PET铜箔概念上涨3.66%，位居概念板块涨幅第6，板块内，41股上涨，诺德股份、 东材科技、海亮股份等涨停，铜冠铜箔、捷佳伟创、德福科技等涨幅居前，分别上涨14.49%、 10.86%、9.25%。跌幅居前的有洪田股份、欧克科技、裕兴股份等，分别下跌9.99%、0.65%、0.15%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | PEEK材料 | 5.31 | 兵装重组概念 | -1.89 | | 液冷服务器 | 4.47 | 芬太尼 | 0.10 | | PCB概念 | 4.28 | 超级品牌 | 0.34 | | 光刻胶 | 3.76 | 猪肉 | 0.35 | | 富士康概念 | 3.66 | 啤酒概念 | 0.40 | | PET铜箔 | 3.66 | 乳业 | 0.44 | | BC电池 | 3.58 | 中韩自贸区 | 0.56 | | PVDF概念 | 3.55 | 托育服务 | 0.58 | | 铜缆高速连接 | 3.45 | F5G概念 | 0.59 | | 互联网 ...

铜冠铜箔深度汇报 20250814 摘要 HVLP 铜箔市场竞争压力小，国内仅少数企业能批量供应，铜冠铜箔是 国内最早且表现最好的供应商之一，专注于 PCB 领域，积累了深厚经验 和客户资源。 HVLP 铜箔通过降低表面粗糙度（RD 值）提升 PCB 材料性能，技术创 新和工艺改进是关键，四代 HVLP 铜箔 RD 值已降至 0.5，性能显著提 升。 载体同步技术在 IC 盖板等领域应用广泛，mSAP 工艺是关键驱动因素， 未来几年将迎来发展机遇，国产替代空间广阔，但尚未充分反映在股价 中。 铜箔价格上涨、需求增加和新应用领域拓展等多重因素驱动，预计铜冠 铜箔未来净利润将提升，盈利弹性乐观。 铜箔市场竞争对手主要为海外企业，国内企业扩产和打样阶段，供给格 局相对宽松，RTF 铜箔价格已上涨，三井也宣布涨价，反映高端产品需 求强劲。 预计 2025 年四季度至 2026 年上半年，四代铜箔将批量发货，带来显 著利润增长，铜箔的边际变化将比电子布更快。 中国市场对翟博业务潜力巨大，市场空间可达十亿人民币，毛利率高， 若有催化剂推动市场扩容，国内企业有望快速打开业绩和增量空间。 Q&A 铜冠铜箔在 AI 领域的市场 ...

（文章来源：每日经济新闻） 国金证券8月10日发布研报称，给予铜冠铜箔（301217.SZ）买入评级。评级理由主要包括：1）AI时 代，低表面粗糙度HVLP铜箔需求；2）国产HVLP领跑者，卡位优势明显、扩产迎需求高增；3）SLP对 应载体铜箔，国产替代空间广阔。风险提示：HVLP铜箔行业扩产节奏偏快的风险；下游AI需求不及预 期；传统PCB 铜箔业务盈利能力继续下滑的风险；锂电铜箔业务持续拖累的风险；限售股解禁风险。 ...

Group 1: Core Insights - The demand for HVLP copper foil is driven by the increasing requirements for PCB transmission rates and signal integrity in AI servers and ASIC applications [1] - The company expects PCB copper foil business revenue to reach 2.769 billion yuan in 2024, representing a year-on-year increase of 24%, primarily due to the expansion of high-end business [1] - The company has a full order book for HVLP copper foil, with production capabilities across four generations of products, focusing on the second generation for shipments [1] Group 2: Market Dynamics - The pricing model for PCB copper foil is based on "copper price + processing fee," with minimal profit in the raw copper segment and profits primarily in the processing fee segment [2] - The global market for ultra-thin copper foil with a carrier layer is approximately 5 billion yuan, historically dominated by Japanese companies, indicating significant potential for domestic alternatives [3] Group 3: Financial Projections and Valuation - The company is projected to achieve net profits of 104 million yuan, 425 million yuan, and 565 million yuan for the years 2025, 2026, and 2027 respectively, with corresponding dynamic PE ratios of 194x, 47x, and 36x [4] - A target price of 30.78 yuan is set for the company, with a "buy" rating based on its leading position in the HVLP market and potential demand for SLP-related copper foil [4]

SLP对应载体铜箔，国产替代空间广阔 国金证券股份有限公司樊志远,李阳,邓小路,赵铭近期对铜冠铜箔（301217）进行研究并发布了研究报告 《AI铜箔领跑者》，首次覆盖铜冠铜箔给予买入评级，目标价30.78元。 铜冠铜箔 AI时代，低表面粗糙度HVLP铜箔需求 以AI服务器及ASIC领域为代表的终端应用对PCB传输速率+信号完整性提出了更高要求，而信号在PCB传 输过程中的导体损失主要与作为信号传输介质的铜箔相关。PCB铜箔核心指标为其表面粗糙度Rz值，以及 在下游生产过程中的可加工性以及在终端应用的可靠性。目前根据Rz大小，划分为VLP型铜箔、RTF型铜 箔以及HVLP型铜箔，其中HVLP型成熟化产品包括四个世代。 国产HVLP领跑者，卡位优势明显、扩产迎需求高增 2024年公司PCB铜箔业务收入27.69亿元、同比+24%，主因系高端业务拓展，例如①高端产品HVLP铜箔 全年订单突破千吨，产量同比+217%，②高频高速基板用铜箔占比从2023年的13.70%提升至25.33%，且 2025年比重进一步提升。 公司HVLP铜箔目前订单饱满，具备1-4代HVLP铜箔生产能力、以2代产品出货为主。前瞻性布局高端 ...

8月7日，铜冠铜箔连续7个交易日下跌，区间累计跌幅-11.09%。安徽铜冠铜箔集团股份有限公司是铜陵有色金属集团股份有限公司与合肥国轩高科动力能源 有限公司发起设立的电子材料高新技术企业,下辖两个全资子公司——合肥铜冠电子铜箔有限公司和铜陵铜冠电子铜箔有限公司。 财报显示，南方基金旗下南方中证1000ETF为铜冠铜箔前十大股东，今年二季度减持。今年以来收益率16.36%，同类排名610(总2519)。 | 南方中证1000ETF | | --- | | 今年以来各阶段业绩及同类排名 | | 阶段涨幅 | 李度涨幅 年度涨幅 | | | | | | --- | --- | --- | --- | --- | --- | | | 近1周 | 近1月 | 近3月 | 近6月 | 今年来 | | 阶段涨幅 | 3.04% | 8.62% | 13.33% | 12.97% | 16.36% | | 同类平均6 | 0.08% | 6.41% | 11.29% | 11.89% | 12.24% | | 沪深300 | 0.96% | 3.77% | 7.39% | 5.70% | 4.57% | | 跟踪标的? | ...

截至2025年8月6日15时11分，铜冠铜箔股价报24.10元，较前一交易日下跌2.19%。当日开盘价为24.50 元，最高触及25.15元，最低下探23.76元，成交量为481158手，成交金额达11.66亿元。 铜冠铜箔主要从事电子铜箔的研发、生产和销售，产品广泛应用于电子元器件、锂电池等领域。公司所 属行业为电子元件制造业，业务涉及PCB、储能等多个领域。 8月6日早盘，铜冠铜箔出现快速反弹行情，在9点39分时股价报24.85元，5分钟内涨幅超过2%，成交额 达1.39亿元。从资金流向来看，当日主力资金净流出9234.90万元，近五个交易日累计净流出10932.10万 元。 风险提示：股市有风险，投资需谨慎。 ...

Group 1 - The stock price of Tongguan Copper Foil closed at 24.86 yuan on August 4, 2025, down 1.00% from the previous trading day [1] - The stock exhibited wide fluctuations, reaching a high of 25.70 yuan and a low of 24.40 yuan, with a volatility of 5.18% [1] - The total trading volume for the day was 498,000 hands, with a transaction amount of 1.243 billion yuan [1] Group 2 - Tongguan Copper Foil is primarily engaged in the research, production, and sales of electronic copper foil, which is widely used in printed circuit boards and lithium-ion batteries [1] - The company operates within the electronic components manufacturing industry, with business applications in PCB and energy storage [1] Group 3 - On August 4, the net inflow of main funds into Tongguan Copper Foil was 10.963 million yuan, but over the past five trading days, there was an overall net outflow of 116 million yuan [1]

Investment Rating - The report suggests a positive outlook on Sichuan Road and Bridge as a leading player in Southwest infrastructure, highlighting its current combination of regional infrastructure growth and dividend yield [3][15]. Core Insights - The report emphasizes the importance of local manufacturing in Africa, particularly for companies like Keda Manufacturing, which is positioned as a leader in localized production and sales [4][16]. - The report notes a price increase in RTF copper foil, indicating a high demand for HVLP products, and suggests continued investment in copper foil and electronic cloth sectors [5][17]. - The report tracks the performance of various materials, indicating a downward trend in cement prices and a mixed outlook for glass and fiberglass markets [6][18][22]. Summary by Sections Weekly Discussion - Sichuan Road and Bridge is highlighted for its strong position in Southwest infrastructure, with a reported investment of 134.9 billion yuan in transportation construction, ranking second nationally and showing a 3.5% increase year-on-year [3][15]. Cyclical Linkage - Cement prices averaged 340 yuan per ton, down 43 yuan year-on-year, with an average shipment rate of 44.7% [6][18]. - Glass prices increased to 1295.28 yuan per ton, reflecting a 4.58% rise, while concrete mixing stations reported a capacity utilization rate of 7.12% [6][18]. - The report warns of potential price declines in steel due to market fundamentals [6][18]. National Subsidy Tracking - The report mentions the allocation of 690 billion yuan for consumer goods replacement subsidies, with plans for further funding in October [7][19]. Important Changes - Notable acquisitions include Defu Technology's purchase of Circuit Foil Luxembourg for 174 million euros and the listing of Hanhai Group on the A-share market [8][20][21]. Market Performance - The construction materials index fell by 3.96% over the week, with specific declines in glass manufacturing and fiberglass sectors [24]. Material Price Changes - Cement prices continued to decline, with a national average of 340 yuan per ton, while glass prices showed a slight increase [32][41]. - Fiberglass prices remained under pressure, with a reported average of 3595.25 yuan per ton [66].