【私募调研记录】汐泰投资调研嘉元科技

Group 1 - The core viewpoint of the article highlights that Jia Yuan Technology has shown significant growth in revenue and profitability, with a projected revenue of 1.981 billion yuan in Q1 2025, representing a 113% increase year-on-year, and a net profit of 24.4564 million yuan, marking a turnaround from losses [1] - Jia Yuan Technology anticipates continued growth in profitability in the second half of this year, driven by an increase in high-value-added products, the introduction of overseas clients, and sales expansion [1] - The company’s copper foil products include lithium battery copper foil and electronic circuit copper foil, focusing on high-tech products such as ultra-high strength and special alloy copper foil, and is advancing domestic alternatives for high-end electronic circuit copper foil [1] Group 2 - Jia Yuan Technology has made breakthroughs in the research and development of copper foil for solid-state batteries, including high specific surface area copper foil and composite copper foil, and has begun supplying solid-state battery copper foil to five companies [1] - The company has developed relationships with top overseas battery enterprises, with product gross margins exceeding those in the domestic market, and is actively entering emerging overseas markets [1] - Jia Yuan Technology believes that its current stock price does not accurately reflect its long-term intrinsic value and will continue to strengthen its operational management to solidify its foundation for conversion [1]