Core Insights - The Thailand Electronics Circuit Asia 2025 exhibition will take place from August 20 to 22, 2025, in Bangkok, showcasing high-end copper foil applications and fostering collaboration among global electronic industry players [1][3]. Group 1: Exhibition Overview - The exhibition is co-hosted by the Thailand Board of Investment, the Thai Printed Circuit Association, and the Hong Kong Printed Circuit Association, focusing on building a future electronic ecosystem [3]. - Over 250 companies from 15 countries and regions are expected to participate, covering an area of 12,000 square meters, with a projected trade volume exceeding 20 billion Thai Baht and over 7,000 professional visitors [3]. Group 2: Company Participation - Defu Technology showcased high-performance copper foil products and innovative applications in high-frequency, high-speed circuits, 5G communication, and automotive electronics, attracting significant attention from industry experts and potential partners [3][5]. - The company has established a subsidiary in Thailand and is collaborating with local firms such as KCE and TLM in the PCB sector, emphasizing its strategy of collaboration and localization [5]. Group 3: Future Outlook - Defu Technology aims to leverage its advanced copper foil material technology to drive innovation in the electronic industry and build a smarter, more interconnected electronic ecosystem with global partners [7].

Group 1 - Defu Technology (Shenzhen) Co., Ltd. has been established with a registered capital of 100 million yuan, focusing on electronic components manufacturing, new material technology research and development, battery parts production and sales, and high-performance non-ferrous metals and alloy materials sales [1][2] - The company is wholly owned by Defu Technology (301511), indicating a strong backing from its parent company [1][3] - The business scope includes general operations such as manufacturing and sales of electronic special materials, battery parts, and non-ferrous metal processing, as well as construction engineering [2]

Core Viewpoint - Jiujiang Defu Technology Co., Ltd. (Defu Technology) plans to issue up to 189 million shares to raise no more than 1.93 billion yuan, primarily for acquiring 100% equity of Circuit Foil Luxembourg S.a.r.l. and funding electronic chemical projects and working capital [1][6][8]. Group 1: Fundraising and Acquisition - The planned fundraising includes 1.43 billion yuan for acquiring Circuit Foil Luxembourg, 200 million yuan for electronic chemical projects, and 300 million yuan for working capital [1][6]. - Circuit Foil Luxembourg specializes in high-end electronic circuit copper foil, with applications in AI servers, 5G base stations, and mobile terminals, maintaining stable partnerships with leading PCB companies [4][6]. - The acquisition price of Circuit Foil Luxembourg is set at 1.74 billion euros, which is above its net asset value of approximately 1.26 billion euros, indicating potential goodwill formation post-acquisition [6][10]. Group 2: Financial Performance - Circuit Foil Luxembourg reported revenues of 13.37 million euros in 2024 and 4.5 million euros in Q1 2025, with a net loss of 370,000 euros in 2024, but a profit of 167,000 euros in Q1 2025 due to improved product volume and cost management [5][6]. - Defu Technology's financial performance has been volatile, with a revenue of 7.805 billion yuan in 2024, a decline in net profit to -245 million yuan, but a recovery in H1 2025 with revenue of 5.299 billion yuan and a net profit of 38.7 million yuan [10]. Group 3: Industry Context - The copper foil industry is capital-intensive, characterized by high fixed asset investments and significant R&D costs, which has led to a high debt ratio of 73.55% for Defu Technology as of June 30, 2025 [9][10]. - The company aims to enhance its capital structure and operational efficiency through this fundraising, addressing the growing working capital needs driven by increasing sales [9][10].

关于为子公司提供担保的进展公告 证券代码：301511 证券简称：德福科技 公告编号：2025-080 九江德福科技股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、担保情况概述 九江德福科技股份有限公司（以下简称"公司"）于 2025 年 5 月 9 日召开 2024 年年度股东会，审议通过了《关于 2025 年度为子公司提供担保的议案》， 同意公司为合并报表范围内的子公司提供总额不超过 1,172,720 万元的担保，有 效期自 2024 年年度股东会审议通过之日起至 2025 年 12 月 31 日止，并授权公司 董事长或其授权代表人，在核定额度内根据各子公司业务发展的实际需要确定执 行，签署有关的文件、协议等其他相关法律文件。 二、担保进展情况 1、近日，公司与中国光大银行股份有限公司兰州西固支行（以下简称"光 大银行"）签订了合同编号：5188ZH2025018-001《最高额保证合同》，约定 公司为甘肃德福新材料有限公司（以下简称"德福新材"）与光大银行签订的 《综合授信协议》提供最高额为人民币 4,080 万元的担保保证。 2、公 ...

Group 1 - The automotive service sector experienced significant gains, with Dezhong Automotive reaching a 30% limit-up, and China Automotive Technology & Research Center achieving a 20% limit-up [1] - Other companies such as Shanghai Material Trade, China Automotive Research, and Taotao Automotive also hit the limit-up, indicating a strong upward trend in the sector [1] - Additional companies like Beiba Media and Huayang Racing saw increases, reflecting a broader positive movement within the automotive service industry [1]

Core Viewpoint - Defu Technology (301511.SZ) is accelerating its efforts to become a leader in the global copper foil industry through a planned A-share issuance to raise up to 1.93 billion yuan for strategic acquisitions and operational enhancements [1][2]. Group 1: Fundraising and Strategic Initiatives - The company plans to issue shares to no more than 35 specific investors, raising a maximum of 1.93 billion yuan, with net proceeds allocated entirely to the acquisition of 100% equity in Luxembourg Copper Foil, electronic chemical products for copper foil additives, and to supplement working capital [2][3]. - Of the total fundraising, 1.43 billion yuan will be directed towards the acquisition of Luxembourg Copper Foil, which is a leading global high-end electronic circuit copper foil company [2][3]. - The electronic chemical products project has a total investment of 400 million yuan, with 200 million yuan from the fundraising, aimed at producing 4,400 tons of electronic chemicals annually, enhancing the company's control over upstream raw materials [3]. Group 2: Financial Performance and Growth - In the first half of 2025, the company achieved revenue of 5.299 billion yuan, a year-on-year increase of 66.82%, and a net profit of 38.71 million yuan, marking a 136.71% increase and a turnaround from previous losses [1][5]. - The company's total assets reached 17.6 billion yuan by the end of June 2025, reflecting a year-on-year growth of 16.71% and setting a historical high [1][6]. - The company has shown a consistent trend of revenue growth and improving profitability, with revenues of 6.381 billion yuan, 6.531 billion yuan, and 7.805 billion yuan projected for 2022, 2023, and 2024 respectively [5]. Group 3: Research and Development - Defu Technology has invested a total of 546 million yuan in research and development over the past three and a half years, with R&D expenditures increasing each year, representing 1.73% to 2.35% of total revenue during this period [4][5]. - The company has successfully developed new products such as porous copper foil and atomized copper foil, which are now being tested and supplied to multiple downstream customers [5]. Group 4: Market Position and Capacity - The company's production capacity has reached 175,000 tons per year, placing it among the top tier in the domestic industry, with a continuously increasing market share [6]. - From 2020 to 2024, the company's total assets grew from 2.994 billion yuan to 14.88 billion yuan, a remarkable increase of 396.99% [6].

Core Viewpoint - Defu Technology (301511) plans to raise up to 1.89 billion shares through a private placement to specific investors, aiming to raise no more than 1.93 billion yuan for acquisitions and project developments [1][3] Group 1: Fundraising and Acquisition Plans - The company intends to use 1.43 billion yuan of the raised funds to acquire 100% of Luxembourg Copper Foil, with a total investment of 1.446 billion yuan [3] - Luxembourg Copper Foil is a leading global high-end electronic circuit copper foil manufacturer, with core technologies in HVLP and DTH products, serving AI servers, 5G base stations, and mobile terminals [3][4] - The acquisition is expected to enhance Defu Technology's position in both lithium battery and electronic circuit copper foil sectors, while alleviating its asset-liability ratio of 73.55% as of June 30, 2025 [1][6] Group 2: Financial Performance and Market Position - Defu Technology's stock price has increased by 194% year-to-date, significantly outperforming the market, driven by improved financial performance and business expansion [5][6] - For the first half of 2025, the company reported a revenue of 5.299 billion yuan, a year-on-year increase of 66.82%, and a net profit of 38.7062 million yuan, marking a turnaround from losses [6] - The company plans to allocate 200 million yuan for an electronic chemical project for copper foil additives, which will enhance its supply chain stability and cost efficiency [4] Group 3: Share Structure and Regulatory Considerations - The private placement will not change the control of the company, as the controlling shareholder's stake will decrease from 33.57% to 25.83% post-issuance [7] - The issuance price will be based on the average stock price over the previous 20 trading days, ensuring a fair valuation for investors [7]

Market Performance - The flexible screen (foldable screen) concept increased by 2.13%, ranking fourth among concept sectors, with 87 stocks rising [1] - Leading stocks included Lihexing with a 20% limit up, and Dongmu Co., Del Future, and Kesen Technology also hitting the limit up, with respective increases of 14.66%, 11.40%, and 8.14% [1] - The worst performers in the sector were Woge Optoelectronics, Huasheng Co., and Lingyi Technology, which fell by 4.58%, 3.00%, and 2.41% respectively [1] Capital Inflow - The flexible screen concept saw a net inflow of 369 million yuan from main funds, with 62 stocks receiving net inflows, and 8 stocks exceeding 100 million yuan in net inflow [2] - The top stock for net inflow was Lens Technology, with 705 million yuan, followed by Defu Technology, Huagong Technology, and O-film Technology with net inflows of 174 million yuan, 173 million yuan, and 148 million yuan respectively [2] Capital Flow Ratios - The highest net inflow ratios were seen in Del Future, Lihexing, and Lens Technology, with ratios of 54.68%, 14.09%, and 13.50% respectively [3] - The flexible screen concept's capital inflow leaderboard included Lens Technology with a 5.94% increase and a turnover rate of 3.35% [3][4] - Other notable stocks included Defu Technology with a 4.52% increase and a turnover rate of 13.35% [4] Overall Sector Trends - The flexible screen concept was among the top-performing sectors today, alongside lithography machines and copper cable high-speed connections, while sectors like duty-free shops and pork saw declines [2] - The overall market sentiment appears positive for the flexible screen sector, driven by significant capital inflows and strong stock performances [2][3]

Core Viewpoint - Defu Technology plans to issue A-shares to raise funds for acquiring a leading global high-end electronic circuit copper foil company, aiming to enhance its presence in the "lithium battery + electronic circuit" sectors and alleviate its high debt ratio [1][2]. Group 1: Fundraising and Acquisition - The company intends to issue up to 189 million shares to no more than 35 qualified investors, with a total fundraising target of 14.3 billion yuan allocated for acquiring 100% of Luxembourg Copper Foil [1]. - The acquisition of Luxembourg Copper Foil, with a total investment of 14.46 billion yuan, is expected to strengthen Defu Technology's market position in the copper foil industry [1]. - Luxembourg Copper Foil reported a revenue of 1.34 billion euros in 2024, with a net loss of 370,000 euros, but showed a profit of 1.67 million euros in Q1 2025 [1]. Group 2: Financial Performance and Market Position - In the first half of 2025, Defu Technology achieved a revenue of 5.299 billion yuan, marking a year-on-year increase of 66.82%, and a net profit of 38.7062 million yuan [2]. - The company's debt ratio stood at 73.55% as of June 30, 2025, indicating significant financial pressure [2]. - The stock price has increased by 181.85% year-to-date, outperforming the market significantly [1].

Core Viewpoint - Defu Technology plans to raise up to 1.89 billion shares through a private placement to acquire 100% equity of Luxembourg Copper Foil and invest in electronic chemical projects, aiming to enhance its position in the lithium battery and electronic circuit copper foil sectors while alleviating its high debt ratio of 73.55% as of June 30, 2025 [1][6]. Group 1: Fundraising and Acquisition - The company intends to raise a total of up to 1.93 billion yuan, with 1.43 billion yuan allocated for acquiring Luxembourg Copper Foil, a leading global high-end electronic circuit copper foil manufacturer [3][4]. - Luxembourg Copper Foil, established in 1960, specializes in high-grade products and has applications in AI servers, 5G base stations, and mobile terminals [3][4]. - The acquisition is expected to enhance Defu Technology's global presence and customer base, leveraging Luxembourg Copper Foil's established international production and sales network [4]. Group 2: Financial Performance and Market Impact - Defu Technology's stock price has increased by 181.85% year-to-date, significantly outperforming the market, driven by improved financial performance and business expansion [5]. - For the first half of 2025, the company reported revenue of 5.299 billion yuan, a year-on-year increase of 66.82%, and net profit of 38.7062 million yuan, marking a turnaround from losses [5][6]. - The company aims to use 300 million yuan from the fundraising to supplement working capital, optimizing its capital structure and improving operational efficiency [6]. Group 3: Project Development - An additional 200 million yuan will be invested in an electronic chemical project for copper foil additives, which is expected to produce 4,400 tons annually upon full capacity [4]. - The project will focus on key raw materials for lithium battery copper foil additives, enhancing supply stability and reducing costs [4].