Core Viewpoint - The company, Zhejiang Zhaolong Interconnect Technology Co., Ltd., is experiencing growth in revenue and profit, driven by its strong position in the high-speed cable and optical fiber markets, as well as benefiting from the depreciation of the RMB [2][3][7]. Group 1: Company Performance - For the period from January to September 2025, the company achieved a revenue of 1.518 billion yuan, representing a year-on-year growth of 13.28% [7]. - The net profit attributable to the parent company for the same period was 138 million yuan, showing a significant year-on-year increase of 53.82% [7]. - The company has distributed a total of 113 million yuan in dividends since its A-share listing, with 82.34 million yuan distributed over the past three years [8]. Group 2: Market Position and Products - The company has established itself as a core partner for international leading interconnect solution providers in the active cable (AEC) sector, leveraging its technological expertise in high-speed cables [2]. - It offers a range of optical products, including fiber jumpers and connectors, primarily serving high-end projects in finance, education, and healthcare, while also expanding into overseas markets [2]. - The company is one of the few in China capable of designing and manufacturing data cables of categories 6, 7, and 8, meeting the new data transmission demands of the 5G era [2]. Group 3: Financial and Stock Market Insights - The company's stock closed at a price of 55.28 yuan, with an average trading cost indicating recent accumulation, although the buying pressure is not strong [6]. - The stock's support level is at 52.97 yuan, and a drop below this level could trigger a downward trend [6]. - As of September 30, 2025, the company had a total market capitalization of 16.718 billion yuan, with a trading volume of 302 million yuan on the day of reporting [1][5].

证券日报网讯 12月29日，兆龙互连发布公告称，为规范募集资金的管理和使用，保护投资者合法权 益，根据有关规定，经公司第三届董事会第十三次会议审议通过，公司及子公司 LONGTEKINTERCONNECT（THAILAND）CO.，LTD.（龙腾互连（泰国）有限公司）设立了募集资 金专项账户（简称"专户"），并分别与保荐机构中信建投证券股份有限公司、募集资金专户开户银行签 订了《募集资金三方监管协议》及《募集资金五方监管协议》。 （编辑 任世碧） ...

证券代码：300913 证券简称：兆龙互连 公告编号：2025-081 浙江兆龙互连科技股份有限公司 关于签订募集资金三方及五方监管协议的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、募集资金基本情况 根据中国证券监督管理委员会出具的《关于同意浙江兆龙互连科技股份有限 公司向特定对象发行股票注册的批复》（证监许可〔2025〕1826 号），公司向 特定对象发行人民币普通股（A 股）股票 30,070,457 股，每股面值人民币 1.00 元，发行价格为 39.74 元/股，募集资金总额为人民币 1,194,999,961.18 元，扣除 各项发行费用（不含税）人民币 10,182,075.18 元，实际募集资金净额为人民币 1,184,817,886.00 元。 上述募集资金已于 2025 年 12 月 9 日全部到位，天健会计师事务所（特殊普 通合伙）对本次募集资金到位情况进行了审验，并于 2025 年 12 月 11 日出具了 《验资报告》（天健验〔2025〕434 号）。 二、募集资金专项账户开设及监管协议签署情况 为规范募集资金的管理和使用 ...

Investment Rating - The industry investment rating is maintained at "Overweight" [1] Core Insights - The report emphasizes that 2026 will be a critical year for the commercial release of GPUs and the large-scale deployment of CSP ASICs, leading to a surge in demand for interconnect solutions in data centers. Copper cables are highlighted as the optimal solution for short-distance, low-cost interconnects, while the demand for optical modules is expected to rise significantly due to the increasing GPU deployment [5][54]. Summary by Sections 1. Nvidia - The report details the upgrades in high-bandwidth, low-latency interconnects for Nvidia's Rubin, with a focus on the sixth-generation NVLink and the configuration of NVSwitch chips to achieve a symmetrical bandwidth of 129.6TB/s [10][12]. - The optical module demand ratio for the Rubin NVL144 configuration is projected to reach 1:12 under full CPX configuration, indicating a significant increase in the need for optical components as server clusters expand [16][18]. 2. Google - Google's TPU architecture is discussed, highlighting the use of a 3D Torus topology for high-bandwidth interconnects, with each TPU chip providing a bandwidth of 4.8TB/s [20][23]. - The report outlines the multi-layer network structure supporting the TPU scale-out, which includes 9216 TPU chips and utilizes a combination of TOR and Leaf/Spine switches to manage traffic efficiently [29][30]. 3. Amazon - Amazon's Trainium3 network architecture is characterized by high-density interconnects and flexible scaling capabilities, utilizing PCIe 6.0 technology for efficient communication between chips [32][33]. - The dual-network division (ENA for north-south traffic and EFA for east-west traffic) is designed to support the scaling of AI cluster communications, enhancing overall network performance [35][36]. 4. Meta - Meta's Minerva cabinet is designed for high-speed interconnects, achieving a symmetrical bandwidth of 204.8Tbps through the integration of Tomahawk5 switches and copper backplane technology [37][39]. - The DSF (Disaggregated Scheduled Fabric) network architecture is introduced to address bandwidth bottlenecks and congestion in large-scale AI training environments, featuring a layered design for improved resource utilization [43][48]. 5. Investment Recommendations - The report suggests focusing on the core sectors of optical and copper interconnects, as both are expected to experience significant growth driven by the increasing demand for data center interconnect solutions [54].

证券代码：300913 证券简称：兆龙互连 公告编号：2025-079 公司董事和高级管理人员均未参与公司本次向特定对象发行股票的认购。本 次发行前后，公司董事和高级管理人员持股数量均未发生变化，持股比例因公司 总股本增加而被动稀释，具体变动情况如下： | 姓名 | 职务 | 本次发行前 | | 本次发行后 | | | --- | --- | --- | --- | --- | --- | | | | 持股数量 | 占总股本比 | 持股数量 | 占总股本比 | | | | （股） | 例（%） | （股） | 例（%） | | 姚金龙 | 董事长、总经理 | 45,360,000 | 14.5054 | 45,360,000 | 13.2329 | | 姚银龙 | 董事 | 15,120,000 | 4.8351 | 15,120,000 | 4.4110 | | 姚云涛 | 董事、副总经理 | 15,120,000 | 4.8351 | 15,120,000 | 4.4110 | | 姚云萍 | 董事、副总经理、 董事会秘书 | - | - | - | - | | 宋红霞 | 董事、财务负责人 | 151, ...

中信建投证券股份有限公司 关于 浙江兆龙互连科技股份有限公司 向特定对象发行股票 之 中信建投证券股份有限公司及本项目保荐代表人廖磊、俞康泽已根据《中华 人民共和国公司法》《中华人民共和国证券法》等法律法规和中国证监会及深圳 证券交易所的有关规定，诚实守信，勤勉尽责，严格按照依法制定的业务规则和 行业自律规范出具上市保荐书，并保证所出具文件真实、准确、完整。 1 上市保荐书 保荐人 二〇二五年十二月 保荐人出具的上市保荐书 保荐人及保荐代表人声明 | 释 4 | 义 | | --- | --- | | 一、发行人基本情况 6 | | | （一）发行人概况 6 | | | （二）发行人主营业务 6 | | | （三）发行人主要经营和财务数据及指标 7 | | | （四）发行人存在的主要风险 9 | | | 二、发行人本次发行情况 15 | | | （一）发行股票的种类和面值 15 | | | （二）发行方式和发行时间 15 | | | （三）发行对象及认购方式 16 | | | （四）定价基准日、发行价格及定价原则 16 | | | （五）发行数量 17 | | | （六）限售期 17 | | | （七）上市地 ...

证券代码：300913 证券简称：兆龙互连 浙江兆龙互连科技股份有限公司 向特定对象发行股票 上市公告书 保荐人（主承销商） 二〇二五年十二月 浙江兆龙互连科技股份有限公司上市公告书 发行人及全体董事、高级管理人员声明 浙江兆龙互连科技股份有限公司 年 月 日 1 浙江兆龙互连科技股份有限公司上市公告书 特别提示 一、发行股票数量及价格 1、发行股票数量：30,070,457 股 本公司及全体董事、高级管理人员承诺本上市公告书不存在虚假记载、误导 性陈述或重大遗漏，并对其真实性、准确性、完整性承担相应的法律责任。 全体董事签名： ______________ 姚金龙 ______________ 姚银龙 ______________ 姚云涛 ______________ 姚云萍 ______________ 宋红霞 ______________ 尹莹 ______________ 肖建中 ______________ 钱瑛 ______________ 应瑛 ______________ 陈众励 ______________ 姚伟民 除董事外其他高级管理人员签名： ______________ 沈福良 2、发 ...

证券代码：300913 证券简称：兆龙互连 公告编号：2025-080 1、本次权益变动系浙江兆龙互连科技股份有限公司（以下简称"兆龙互连"、 "公司"）完成向特定对象发行股票事宜导致公司总股本增加，公司控股股东、 实际控制人及其一致行动人合计持股比例被动稀释，及公司股东德清兆兴企业管 理咨询合伙企业（有限合伙）、德清兆信企业管理咨询合伙企业（有限合伙）、 德清县百盛企业管理有限公司减持股份，导致控股股东、实际控制人及其一致行 动人持股比例变动触及 5%的整数倍。 2、本次权益变动不涉及要约收购，不会导致公司控股股东和实际控制人发 生变化，不会影响公司的治理结构和持续经营。 一、本次权益变动基本情况 1、公司于 2025 年 7 月 29 日在巨潮资讯网披露了《关于控股股东、实际控 制人及其一致行动人持股比例变动超过 1%的公告》（公告编号：2025-055）， 因股东减持股份、公司实施股权激励归属导致股份被动稀释等原因，公司控股股 东浙江兆龙控股有限公司（以下简称"兆龙控股"）、实际控制人姚金龙先生及 其一致行动人姚云涛先生、姚银龙先生、德清兆兴企业管理咨询合伙企业（有限 合伙）（以下简称"德清兆兴"）、德 ...

证券代码：300913 证券简称：兆龙互连 公告编号：2025-078 浙江兆龙互连科技股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 《浙江兆龙互连科技股份有限公司向特定对象发行股票上市公告书》及相关 文件已于同日在中国证券监督管理委员会指定的创业板信息披露网站巨潮资讯 网（www.cninfo.com.cn）上披露，敬请投资者注意查阅。 特此公告。 浙江兆龙互连科技股份有限公司董事会 2025 年 12 月 26 日 关于向特定对象发行股票上市公告书披露的提示性公告 ...

Core Viewpoint - The company, Zhejiang Zhaolong Interconnect Technology Co., Ltd., is experiencing growth in revenue and profit, driven by its capabilities in high-speed cables and optical products, as well as benefiting from the depreciation of the RMB. Group 1: Company Overview - Zhejiang Zhaolong Interconnect was established on August 21, 1995, and went public on December 7, 2020. The company specializes in the design, manufacturing, and sales of data cables, special cables, and connection products [7] - The revenue composition includes: 43.60% from data communication cables of category 6 and below, 20.81% from category 6A and above, 18.04% from special cables, 11.62% from connection products, and 5.94% from other sources [7] - As of September 30, 2025, the company had 38,100 shareholders, an increase of 8.59% from the previous period, with an average of 6,721 circulating shares per shareholder, a decrease of 7.49% [7] Group 2: Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.518 billion yuan, representing a year-on-year growth of 13.28%, and a net profit attributable to shareholders of 138 million yuan, up 53.82% year-on-year [7] - The company has distributed a total of 113 million yuan in dividends since its A-share listing, with 82.34 million yuan distributed over the past three years [8] Group 3: Market Position and Products - The company has established itself as a core partner for international leading interconnect solution providers in the active cable (AEC) sector, leveraging its technological expertise in high-speed cables [2] - The company's optical products include fiber optic jumpers, MPO/MTP pre-terminated connectors, and LC fiber optic connectors, primarily serving high-end projects in finance, education, healthcare, and exhibitions, while also expanding into overseas markets [2] - Zhaolong Interconnect is one of the few companies in China capable of designing and manufacturing data cables of category 6, 7, and even 8, meeting the new data transmission demands of the 5G era [2] Group 4: Investment Trends - The stock price of Zhaolong Interconnect increased by 0.47% on December 24, with a trading volume of 486 million yuan and a turnover rate of 3.41%, resulting in a total market capitalization of 17.481 billion yuan [1] - The company has seen a net inflow of 20.99 million yuan from major investors today, with a total net inflow of 688.52 million yuan over the past three days [5]