Core Viewpoint - The company is making steady progress in the construction and operation of its production base in Thailand, with the self-owned land construction officially underway [1] Group 1: Construction Progress - The construction of the self-owned land has officially commenced, and the company will continue to advance the factory and supporting facilities according to the engineering plan [1] - The construction of the smart manufacturing project for high-speed cables and connection products has been completed, with some machinery and equipment already purchased and tested [1] - Relevant equipment will be gradually put into use as part of the ongoing operational setup [1]

Core Viewpoint - The company, Zhaolong Interconnect (300913), is making steady progress in the construction and operation of its production base in Thailand, with the self-owned land construction officially underway [1] Group 1: Construction Progress - The construction of the self-owned land has officially commenced, and the company will continue to advance the factory and supporting facilities according to the engineering plan [1] - The construction of the smart manufacturing project for high-speed cables and connection products has been completed, with some machinery and equipment already purchased and debugged [1] - Relevant equipment will be gradually put into use [1]

Core Viewpoint - Zhaolong Interconnect (300913.SZ) is actively providing optical connection solutions primarily for high-end sectors such as finance, utilizing products like optical cables and connectors [1] Company Summary - The company specializes in optical products used in data centers, including optical cables, fiber jumpers, MPO/MTP pre-terminated connectors, LC fiber connectors, and optical distribution frames [1] - Zhaolong Interconnect has established a presence in high-end fields, indicating a focus on quality and specialized applications [1]

Core Insights - The company reported a significant increase in revenue and net profit for the first three quarters of 2025, achieving total revenue of 1.518 billion yuan, a year-on-year growth of 13.28%, and a net profit attributable to shareholders of 138 million yuan, a year-on-year increase of 53.82% [1][3] Financial Performance - The company's gross profit margin for the first three quarters was 20.44%, an increase of 4.53 percentage points compared to the same period last year [3] - The net profit margin was 9.1%, reflecting a year-on-year increase of 2.4 percentage points [3] - The diluted return on equity (ROE) excluding non-recurring items was 10.06%, up by 4.04 percentage points year-on-year [3] Business Overview - The company specializes in the design, manufacturing, and sales of data cables, specialized cables, and connection products, serving various sectors including telecommunications, cloud computing, data centers, AI computing centers, industrial internet, automotive Ethernet, and specialized applications such as medical, photovoltaic, industrial robotics, nuclear power, and aerospace [3] - The company has developed a product matrix for high-speed transmission technology, capable of mass production for transmission components and supporting high-speed transmission cables with rates up to 800 Gb/s, addressing the growing demand for data transmission in large and super data centers and high-speed communication fields [3] Cash Flow Improvement - The net cash flow from operating activities for the first three quarters reached 179 million yuan, representing a year-on-year increase of 167.16% [3] - As of the end of the third quarter, the company's cash and cash equivalents amounted to 256 million yuan, a year-on-year increase of 16.89% [3]

Core Viewpoint - Zhaolong Interconnect, a leading manufacturer of data cables and specialized cables in China, has shown strong performance in the first half of 2025, with significant growth in revenue and net profit, driven by its specialized cable segment and increasing demand in the GPU/ASIC market [2][6]. Group 1: Company Overview - Zhaolong Interconnect was established on August 21, 1995, and was listed on the Shenzhen Stock Exchange on December 7, 2020. The company is headquartered in Huzhou, Zhejiang Province and specializes in the design, manufacturing, and sales of data cables, specialized cables, and connection products [1]. - The company holds multiple independent intellectual properties and core technologies, with products widely used in communications and data centers [1]. Group 2: Financial Performance - In Q3 2025, Zhaolong Interconnect achieved a revenue of 1.518 billion yuan, ranking 7th among 12 companies in the industry. The industry leader, Hengtong Optic-Electric, reported a revenue of 49.621 billion yuan [2]. - The company's net profit for the same period was 138 million yuan, placing it 5th in the industry, while the top performer, Hengtong Optic-Electric, had a net profit of 2.537 billion yuan [2]. Group 3: Financial Ratios - As of Q3 2025, Zhaolong Interconnect's debt-to-asset ratio was 20.32%, an increase from 16.51% year-on-year, which is significantly lower than the industry average of 44.07% [3]. - The company's gross profit margin was 20.44%, up from 15.91% year-on-year, but still below the industry average of 24.18% [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 8.59% to 38,100, while the average number of circulating A-shares held per shareholder decreased by 7.49% to 6,721.25 shares [5]. Group 5: Future Outlook - Analysts from China Galaxy Securities predict that Zhaolong Interconnect will achieve revenues of 2.245 billion yuan, 2.926 billion yuan, and 4.013 billion yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 22.57%, 30.36%, and 37.14% [6]. - The company is expected to maintain strong growth in its specialized cable and connection product segments, supported by a solid customer base and technological advancements [6].

Core Insights - Zhaolong Interconnect (300913.SZ) reported a revenue of 1.518 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 13.28% [1] - The net profit attributable to shareholders of the listed company was 138 million yuan, showing a year-on-year increase of 53.82% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 134 million yuan, reflecting a significant year-on-year growth of 93.20% [1] - The basic earnings per share stood at 0.44 yuan [1]

Market Performance - The main board led the gains with notable stocks such as KeliKe (+10.02%), Tianrongxin (+10.02%), and Chunzhong Technology (+10.00%) [1] - The ChiNext board saw significant increases with Benchuan Intelligent (+20.00%) and Weston (+19.99%) [1] - The Sci-Tech Innovation board was led by Tonglian Precision (+12.55%) and Guodun Quantum (+11.09%) [1] - Active sub-industries included SW Passive Components (+3.97%) and SW Consumer Electronics Components and Assembly (+3.54%) [1] Domestic News - Changxin Storage launched LPDDR5X, achieving significant improvements in capacity, speed, and power consumption, with maximum speeds reaching 10667 Mbps [1] - Jimo Semiconductor Technology and Nanjing University published important research in the journal "Science," achieving mass production of the world's first 6-inch two-dimensional semiconductor single crystal series [1] - Anhui Jingmei Light Mask project commenced, with plans to produce 3200 high-end light masks monthly, which are crucial for automotive and industrial control applications [1] - Shanghai Shengxi, a subsidiary of Aolaide, won a bid for the core equipment procurement project for Xiamen Tianma's 6th generation flexible AMOLED production line, with a contract amount of 93.79 million yuan [1] Company Announcements - Zhaolong Interconnect reported Q3 2025 revenue of 1.518 billion yuan, a year-on-year increase of 13.28%, with net profit of 138 million yuan, up 53.82% [2] - Suzhou Goodway reported Q3 2025 revenue of 3.020 billion yuan, a year-on-year decline of 31.22%, with net profit of 62.52 million yuan, up 58.69% [2] - Qizhong Technology reported Q3 2025 revenue of 609 million yuan, a year-on-year increase of 21.42%, with net profit of 85.35 million yuan, up 28.58% [2] - Mingyang Circuit reported Q3 2025 revenue of 1.382 billion yuan, a year-on-year increase of 16.24%, with net profit of 74.48 million yuan, up 119.06% [2] Overseas News - NVIDIA's CEO announced new partnerships, with AI processor orders reaching $500 billion, and plans to build seven new supercomputers for the U.S. Department of Energy [2] - SK Hynix reported a surge in overall storage demand due to increased AI infrastructure investments, achieving record sales of high-value products [2] - Cadence reported Q3 2025 revenue of $1.339 billion, a year-on-year increase of 14%, with core business segments achieving record quarterly revenues [2] - Rohm launched two significant power semiconductor products, including a TOLL package SiC MOSFET and a three-phase brushless motor driver IC [2]

浙江兆龙互连科技股份有限公司 外汇套期保值业务管理制度 第一章 总 则 第八条 公司必须以自身名义设立外汇套期保值账户，不得使用他人账户进 行外汇套期保值业务。 第九条 公司须具有与外汇套期保值业务相匹配的自有资金，不得使用募集 资金直接或间接进行外汇套期保值，且严格按照董事会或股东会审议批准的外汇 套期保值业务交易额度，控制资金规模，不得影响公司正常经营。 第三章 审批权限 第一条 为规范浙江兆龙互连科技股份有限公司（以下简称"公司"）及下属 子公司外汇套期保值业务，有效防范和控制风险，加强对外汇套期保值业务的管 理，根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司信息 披露管理办法》《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》及《浙江兆龙互连科技股份 有限公司章程》（以下简称"《公司章程》"）等的有关规定，结合公司实际情况， 制定本制度。 第二条 本制度所称外汇套期保值业务是指为满足正常经营或业务需要，与 境内外具有相关业务经营资质银行等金融机构开展的用于规避和防范汇率或利率 风险的各项业务，包括但不限于远期结售汇、外汇掉期、外汇 ...

浙江兆龙互连科技股份有限公司 信息披露暂缓与豁免管理制度 第一章 总 则 第一条 为规范浙江兆龙互连科技股份有限公司（以下简称"公司"）的信息 披露暂缓与豁免行为，确保公司及相关信息披露义务人依法合规履行信息披露义 务，保护投资者的合法权益，根据《中华人民共和国证券法》《上市公司信息披 露管理办法》《上市公司信息披露暂缓与豁免管理规定》《深圳证券交易所创业 板股票上市规则》（以下简称"《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》（以下简称"《规范运作指引》"） 等法律法规、规范性文件和《浙江兆龙互连科技股份有限公司章程》（以下简称 "《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 公司及相关信息披露义务人暂缓、豁免披露临时报告，在定期报告、 临时报告中豁免披露中国证监会和深圳证券交易所规定或者要求披露的内容，适 用本制度。 第三条 公司及相关信息披露义务人应自行审慎判断应当披露的信息是否 存在相关法律法规及深圳证券交易所规定的暂缓、豁免情形，并采取有效措施防 止暂缓或者豁免披露信息泄露。 第二章 暂缓、豁免披露信息的范围 第四条 公司及相关 ...

浙江兆龙互连科技股份有限公司 章 程 二〇二五年十月 1 | | | 第一章 总 则 第一条 为维护浙江兆龙互连科技股份有限公司（以下简称"公司"）、股 东、职工和债权人的合法权益，规范公司的组织和行为，根据《中华人民共和 国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简 称"《证券法》"）和其他有关规定，结合公司的具体情况，制定本章程。 第二条 公司系依照《公司法》和其他有关规定由浙江兆龙线缆有限公司 整体变更发起设立的股份有限公司。 公司在浙江省市场监督管理局注册登记，取得营业执照，统一社会信用代 码为 91330521147114918E。 第三条 公司于2020年10月22日经中国证券监督管理委员会（以下简称 "中国证监会"）证监许可[2020]2653号文同意注册后，首次向社会公众发行人 民币普通股3,062.5万股，于2020年12月7日在深圳证券交易所创业板上市。 第四条 公司注册名称： 中文全称：浙江兆龙互连科技股份有限公司 英 文 全 称 ： ZHEJIANG ZHAOLONG INTERCONNECT TECHNOLOGY CO., LTD. 第五条 公司住所：浙江省 ...