沃尔核材：美阳投资、第一创业等多家机构于12月11日调研我司

Core Viewpoint - The company,沃尔核材, is experiencing significant growth in its high-speed communication cable and new energy vehicle sectors, driven by increasing demand in global data centers, artificial intelligence, and high-performance computing applications. The company is also preparing for a Hong Kong stock issuance. Group 1: High-Speed Communication Cable Business - The company has a leading position in key equipment reserves for high-speed communication cables, backed by decades of experience in product development and process control [2][9] - In the first three quarters of 2025, the company's revenue from high-speed communication cables grew rapidly due to strong demand from downstream applications [3][10] - The company maintains a good overall gross profit margin for its high-speed communication cables, ensuring strong profitability [4][10] Group 2: New Energy Vehicle Business - The new energy vehicle segment has shown a compound annual growth rate of over 30% in the past three years, with the company ranking first in revenue for DC charging guns in 2024 [5][11] - The company is enhancing its market competitiveness by localizing core components and establishing a complete production line for niche products [11] - The company is expanding its international market presence by improving its product offerings to meet European and American standards and forming an overseas sales team [11] Group 3: Overall Business Strategy and Performance - The company has been in the new materials industry for nearly 30 years, leveraging its technological advantages and solid foundational capabilities to create a comprehensive competitive edge [6][12] - Future strategies include enhancing operational efficiency through refined management and empowering high-quality business development via intelligent construction [6][12] - The company reported a main revenue of 6.082 billion yuan in the first three quarters of 2025, a year-on-year increase of 26.17%, with a net profit of 822 million yuan, up 25.45% [7][13] Group 4: Hong Kong Stock Issuance - The company received approval from the China Securities Regulatory Commission for its Hong Kong stock issuance on December 9, 2025, and is actively promoting the related listing work [7][13]