Summary of Conference Call Notes Company and Industry Involved - The discussion primarily revolves around the PCB (Printed Circuit Board) industry, specifically focusing on high-frequency and high-speed copper foil products such as RTF (Reverse Transfer Foil) and HVLP (High Voltage Low Profile) [1][2][3][10]. Core Points and Arguments 1. **Production Capacity and Orders** - The company is currently operating at full capacity, with a significant number of orders, particularly for the 70 billion unit orders, which are expected to continue into 2024 [1]. - There is an expectation of a slight loss in 2024, but a return to profitability is anticipated in 2025 due to increased demand and production efficiency [1]. 2. **Profit Margins and Cost Increases** - The overall profit margins are expected to improve despite a slight increase in processing fees, which are still manageable [2]. - The company has noted that the processing fees for HVLP products are significantly higher due to the limited number of manufacturers capable of producing them [10]. 3. **Product Development and Market Position** - The HVLP product line is positioned as a leader in the domestic market, with a strong focus on high-performance applications such as data centers and radar systems [3][4]. - The company has been collaborating with downstream manufacturers to develop products that meet specific technical requirements, enhancing their market position [9][12]. 4. **Technical Challenges** - The production of HVLP products faces several technical challenges, including high-temperature stability, signal interference resistance, and overall production complexity [4][5]. - The company has developed a robust process to address these challenges, ensuring high-quality output [4]. 5. **Market Dynamics and Competition** - The HVLP market is currently dominated by Japanese companies, with significant competition from domestic players [8]. - The company is focusing on expanding its customer base, particularly among well-known Taiwanese and mainland manufacturers [8]. 6. **Future Strategies** - The company plans to enhance its engagement with PCB manufacturers to better align with market demands, especially in the context of AI and high-performance computing [11][12]. - There is a consideration to shift some production capacity from lithium electronic copper foil to PCB copper foil, depending on market conditions [13][14]. Other Important but Possibly Overlooked Content - The company is actively involved in R&D collaborations with upstream suppliers to ensure that their products meet the evolving needs of high-end applications [9]. - The processing costs for RTF and HVLP products vary significantly, with RTF being more widely produced and utilized in various applications, including servers [15]. - The company is aware of the competitive landscape and is taking steps to maintain its market share while exploring new opportunities in high-end product segments [13][14].

Summary of Conference Call on Tongguan Copper Foil Company Overview - **Company Name**: Tongguan Copper Foil - **Parent Company**: Tongling Nonferrous Metals Group - **Business Focus**: Primarily engaged in electronic copper foil production, with a total capacity of 80,000 tons, including 45,000 tons for lithium battery copper foil and over 3,000 tons for PCB copper foil [2][12][30]. Production and Operational Insights - **2024 Production Volume**: Expected to be around 55,000 tons, aligning with capacity, with several projects ramping up in the second half of the year [1][14]. - **2025 Production Forecast**: Anticipated production to exceed 60,000 tons, driven by order demand, with PCB orders performing well due to national subsidies and a recovery in consumer electronics [3][14]. - **Copper Foil Types**: - **High-Speed Copper Foil**: Expected to see significant growth, with its share in PCB copper foil rising from over 20% in 2023 to over 30% in 2025 [6][17]. - **PCB Copper Foil**: The most significant volume comes from HT high-temperature high-extension copper foil, primarily serving the consumer electronics sector [5][25]. Customer and Market Dynamics - **PCB Customer Base**: Established relationships with domestic companies like Shengyi and Taiwanese firms such as Taisun Materials, with new engagements with notable PCB manufacturers [2][18]. - **Lithium Battery Customer Base**: Major clients include BYD and Guoxuan, with ongoing efforts to develop new customers, including those in solid-state battery sectors [2][33]. - **Market Demand Drivers**: The rapid development of 5G, high base station servers, and radar data centers is driving demand for high-frequency and high-speed copper foil [6][16]. Financial Performance and Profitability - **Profitability Outlook**: PCB copper foil has consistently maintained a gross profit margin, with processing fees expected to rise in 2025, contributing positively to net profit [7][26]. - **Processing Fees**: Average processing fee for PCB copper foil is around 15,000 RMB, with a slight increase expected in 2025 [26][54]. - **Lithium Battery Copper Foil**: Currently facing challenges with profitability due to high processing costs, but new projects are expected to improve cost efficiency [42][43]. Production Capacity and Adjustments - **Actual Capacity**: The effective capacity for lithium battery copper foil is approximately 25,000 to 30,000 tons, lower than the designed capacity of 45,000 tons [12][32]. - **Flexibility in Production**: The company can quickly switch between lithium battery and PCB copper foil production, with a switching cycle of about one month [29][30]. Competitive Advantages - **Raw Material Sourcing**: Proximity to Tongling Nonferrous Metals ensures quality copper supply and minimizes transportation costs, enhancing cost control [47]. - **Market Position**: Established since 2007, the company has built strong relationships with customers and has a competitive edge in the PCB copper foil market due to its production capabilities and customer engagement [49]. Future Outlook - **Growth Projections**: Anticipated growth in high-frequency and high-speed copper foil is expected to be around 50% in 2025, driven by increasing demand and domestic substitution efforts [51]. - **Investment in Capacity**: Plans for future capacity expansion and strategic adjustments based on market conditions are in place, focusing on balancing production between lithium battery and PCB copper foil [46]. Additional Insights - **Customer Engagement**: The company is actively engaging with several domestic PCB manufacturers to expand its customer base [18]. - **Price Stability**: The pricing for HVLP copper foil remains stable, with a favorable outlook for profitability due to limited competition in the domestic market [21][40]. This summary encapsulates the key points discussed during the conference call, providing a comprehensive overview of Tongguan Copper Foil's current status and future prospects.

证券代码：301217 证券简称：铜冠铜箔 公告编号：2024-060 安徽铜冠铜箔集团股份有限公司 二、董事会会议审议情况 经与会董事认真审议，通过如下议案： 1、审议通过了《关于制订<会计师事务所选聘制度>的议案》 根据《中华人民共和国公司法》《国有企业、上市公司选聘会计师事务所管 理办法》《上市公司治理准则》《深圳证券交易所股票上市规则》等相关法律法规、 规范性文件及《公司章程》的有关规定，并结合公司实际情况，公司制订《会计 师事务所选聘制度》。 第二届董事会第十一次会议决议公告 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。 一、董事会会议召开情况 安徽铜冠铜箔集团股份有限公司（以下简称"公司"）第二届董事会第十一 次会议于 2024 年 12 月 17 日以现场结合通讯方式召开。会议通知已于本次董事 会召开 5 日前发出。本次会议由董事长甘国庆先生召集并主持，会议应出席董事 9 名，实际出席董事 9 名，公司部分高管及监事列席了会议。会议的召集和召开 符合《中华人民共和国公司法》和《公司章程》的有关规定。 三、备查文件 1.第二届董事会第十一次会议决 ...

安徽铜冠铜箔集团股份有限公司 会计师事务所选聘制度 二〇二四年十二月 第一章 总 则 第一条 为规范安徽铜冠铜箔集团股份有限公司（以下 简称"公司"）选聘（含续聘、改聘，下同）会计师事务所 行为，切实维护股东利益，提升审计工作质量，根据《中华 人民共和国公司法》《国有企业、上市公司选聘会计师事务所 管理办法》《上市公司治理准则》《深圳证券交易所股票上市 规则》等相关法律法规、规范性文件及《公司章程》的有 关规定，结合公司实际情况，制定本制度。 第二条 本制度所称选聘会计师事务所，是指公司根据 相关法律法规要求及本制度规定，聘任会计师事务所对公 司财务会计报告及内部控制发表审计意见、出具审计报告 的行为。公司聘任会计师事务所从事除财务会计报告及内 部控制审计之外的其他法定审计业务的，按照公司其他相 关制度组织实施。 第三条 公司选聘会计师事务所应当由董事会审计委 员会（以下简称"审计委员会"）审议同意后，提交董事会 审议，并由股东会决定。公司不得在股东会审议批准前聘请 会计师事务所开展审计业务。 第二章 会计师事务所执业质量要求 第四条 公司选聘的会计师事务所应当具备下列条件： （一）具有独立的法人资格，具备国 ...

证券代码：301217 证券简称：铜冠铜箔 公告编号：2024-059 安徽铜冠铜箔集团股份有限公司 关于使用闲置募集资金进行现金管理的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 安徽铜冠铜箔集团股份有限公司（以下简称"公司"）于 2024 年 2 月 23 日 召开第二届董事会第六次会议和第二届监事会第五次会议，2024 年 3 月 11 日召 开 2024 年第二次临时股东大会，审议通过了《关于使用部分闲置募集资金进行 现金管理的议案》，同意在确保公司募集资金投资项目建设正常进行和资金安全 的前提下，使用额度不超过人民币 10 亿元的部分闲置募集资金（含超募资金） 进行现金管理，用于购买安全性高、流动性好、期限不超过 12 个月的短期投资 理财产品，使用期限自股东大会审议通过之日起 12 个月内有效。在上述额度和 期限内，资金可循环滚动使用，并授权公司管理层在有效期内和额度范围内行使 决策权。具体内容详见公司于 2024 年 2 月 24 日在巨潮资讯网披露的《关于使用 部分闲置募集资金进行现金管理的公告》（公告编号：2024-008）。 现 ...

一、开立现金管理专用结算账户的情况 证券代码：301217 证券简称：铜冠铜箔 公告编号：2024-058 安徽铜冠铜箔集团股份有限公司 关于开立现金管理专用结算账户及使用闲置募集资 金进行现金管理的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 安徽铜冠铜箔集团股份有限公司（以下简称"公司"）于 2024 年 2 月 23 日 召开第二届董事会第六次会议和第二届监事会第五次会议，2024 年 3 月 11 日召 开 2024 年第二次临时股东大会，审议通过了《关于使用部分闲置募集资金进行 现金管理的议案》，同意在确保公司募集资金投资项目建设正常进行和资金安全 的前提下，使用额度不超过人民币 10 亿元的部分闲置募集资金（含超募资金） 进行现金管理，用于购买安全性高、流动性好、期限不超过 12 个月的短期投资 理财产品，使用期限自股东大会审议通过之日起 12 个月内有效。在上述额度和 期限内，资金可循环滚动使用，并授权公司管理层在有效期内和额度范围内行使 决策权。具体内容详见公司于 2024 年 2 月 24 日在巨潮资讯网披露的《关于使用 部分闲置 ...

证券代码：301217 证券简称：铜冠铜箔 公告编号：2024-057 安徽铜冠铜箔集团股份有限公司 关于使用闲置募集资金进行现金管理的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 安徽铜冠铜箔集团股份有限公司（以下简称"公司"）于 2024 年 2 月 23 日 召开第二届董事会第六次会议和第二届监事会第五次会议，2024 年 3 月 11 日召 开 2024 年第二次临时股东大会，审议通过了《关于使用部分闲置募集资金进行 现金管理的议案》，同意在确保公司募集资金投资项目建设正常进行和资金安全 的前提下，使用额度不超过人民币 10 亿元的部分闲置募集资金（含超募资金） 进行现金管理，用于购买安全性高、流动性好、期限不超过 12 个月的短期投资 理财产品，使用期限自股东大会审议通过之日起 12 个月内有效。在上述额度和 期限内，资金可循环滚动使用，并授权公司管理层在有效期内和额度范围内行使 决策权。具体内容详见公司于 2024 年 2 月 24 日在巨潮资讯网披露的《关于使用 部分闲置募集资金进行现金管理的公告》（公告编号：2024-008）。 现 ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥1,148,100,352.38, representing a 12.12% increase compared to the same period last year[2]. - The net profit attributable to shareholders was -¥41,592,830.50, a decrease of 86.09% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥48,294,604.84, down 75.12% from the previous year[2]. - The company’s basic earnings per share for Q3 2024 was -¥0.05, a decline of 66.67% year-on-year[2]. - Net profit attributable to shareholders decreased to CNY 381,904,320.90 from CNY 532,015,585.00, representing a decline of 28.3%[15]. - The net profit for the third quarter of 2024 was -100,370,331.46 CNY, compared to a net profit of 5,845,188.87 CNY in the same period last year, indicating a significant decline[17]. - The total profit for the quarter was -137,078,190.52 CNY, down from 6,824,133.41 CNY year-over-year[17]. - Operating profit for the quarter was -135,809,339.30 CNY, compared to an operating profit of 6,855,879.78 CNY in the previous year[17]. Assets and Liabilities - The total assets at the end of Q3 2024 amounted to ¥7,121,557,796.51, an increase of 2.61% from the end of the previous year[2]. - The company’s total liabilities increased by 108.83% for short-term borrowings, reaching ¥504,695,287.43, due to increased working capital needs[5]. - Total assets increased to CNY 7,121,557,796.51, compared to CNY 6,940,483,259.45, marking a growth of 2.6%[15]. - Total liabilities rose to CNY 1,686,572,529.49, up from CNY 1,361,074,708.00, indicating a significant increase of 24.0%[15]. - The total equity attributable to shareholders decreased to CNY 5,434,985,267.02 from CNY 5,579,408,551.45, a decline of 2.6%[15]. Cash Flow - The company's cash flow from operating activities was -¥323,863,678.36, showing a 56.08% improvement compared to the same period last year[7]. - Cash flow from operating activities showed a net outflow of -323,863,678.36 CNY, an improvement from -737,332,618.42 CNY in the same period last year[19]. - Cash flow from investment activities resulted in a net outflow of -430,666,004.70 CNY, compared to -107,990,510.89 CNY in the previous year[20]. - Cash flow from financing activities generated a net inflow of 185,781,546.11 CNY, down from 341,384,388.49 CNY year-over-year[20]. - The company reported total cash and cash equivalents at the end of the period of 708,161,406.72 CNY, down from 1,108,888,033.53 CNY at the end of the previous year[20]. Accounts Receivable and Inventory - The company reported a significant increase in accounts receivable, which rose by 53.75% to ¥985,347,958.84, attributed to increased sales[5]. - Accounts receivable increased to ¥985,347,958.84 from ¥640,873,337.80, reflecting a growth of about 53.7%[13]. - Inventory at the end of the period was ¥687,294,239.80, up from ¥595,467,518.68, indicating an increase of approximately 15.4%[13]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 45,656[8]. - The largest shareholder, Hefei Guoxuan High-Tech Power Energy Co., Ltd., holds 72.38% of the shares, totaling 600,000,000 shares[8]. Research and Development - Research and development expenses for the period were CNY 45,746,161.03, slightly down from CNY 49,556,533.06, a decrease of 7.0%[16]. - The company has not disclosed any new product or technology developments in the current report[12]. Other Financial Metrics - The company received government subsidies amounting to ¥5,654,729.24 during the quarter, contributing to its non-recurring gains[3]. - The company recorded asset impairment losses of -31,077,500.28 CNY for the quarter[17]. - The company reported a financial expense of CNY 12,570,621.14, compared to a financial income of CNY 6,755,939.55 in the previous year[16]. - Deferred income tax assets increased to CNY 106,686,670.37 from CNY 71,086,088.74, a rise of 50.1%[15]. - The company's cash and cash equivalents at the end of the period amounted to ¥708,161,406.72, down from ¥1,276,933,433.36 at the beginning of the period, representing a decrease of approximately 44.5%[13]. - The company's cash flow from investing activities was -¥430,666,004.70, a decrease of 298.80% compared to the same period last year, primarily due to reduced cash management redemptions[7].

证券代码：301217 证券简称：铜冠铜箔 公告编号：2024-054 安徽铜冠铜箔集团股份有限公司 第二届监事会第八次会议决议公告 本公司及监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。 一、监事会会议召开情况 安徽铜冠铜箔集团股份有限公司（以下简称"公司"）第二届监事会第八次 会议于 2024 年 10 月 25 日以现场结合通讯方式召开。会议通知已于本次监事会 召开 10 日前发出。本次会议由姚兵先生召集并主持，会议应到监事 3 名，实到 监事 3 名。会议的召集和召开符合《中华人民共和国公司法》和《公司章程》的 有关规定。 二、监事会会议审议情况 经与会监事认真审议，通过如下议案： 1、审议通过了《关于<2024 年第三季度报告>的议案》 三、备查文件 1、第二届监事会第八次会议决议。 特此公告。 安徽铜冠铜箔集团股份有限公司监事会 2024 年 10 月 25 日 经审核，监事会认为董事会编制和审核安徽铜冠铜箔集团股份有限公司 2024 年第三季度报告的程序符合法律、行政法规和中国证监会的规定，报告内 容真实、准确、完整地反映了上市公司的实际情况，不存在任何 ...

国泰君安证券股份有限公司关于 安徽铜冠铜箔集团股份有限公司关于与同一关联方累计发生 关联交易的核查意见 国泰君安证券股份有限公司（以下简称"国泰君安"、"保荐人"）作为安 徽铜冠铜箔集团股份有限公司（以下简称"铜冠铜箔"、"公司"）首次公开发 行股票并在创业板上市的保荐人，根据《证券发行上市保荐业务管理办法》《深 圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》《深圳证券交易所上市公司自律监管指引第 7 号——交易与关联交易》及《深圳证券交易所上市公司自律监管指引第 13 号 ——保荐业务》等有关规定，对公司关于与同一关联方累计发生关联交易的事项 进行了核查，核查情况及核查意见如下： 一、关联交易概述 近日，铜冠铜箔因项目建设需要，与铜陵有色金属集团铜冠建筑安装股份有 限公司（以下简称"铜冠建安"）发生建设业务，预计交易金额 460.75 万元。公 司控股股东为铜陵有色金属集团股份有限公司，持有公司 72.375%的股份，公司 间接控股股东铜陵有色金属集团控股有限公司持有铜冠建安 82.7714%的股权， 是铜冠建安的控股股东，根据《深圳证券交易所创业 ...