截至6月30日，艾华集团股东户数2.22万，较上期减少9.92%；人均流通股18056股，较上期增加 11.02%。2025年1月-6月，艾华集团实现营业收入19.61亿元，同比增长1.89%；归母净利润1.48亿元，同 比增长41.56%。 分红方面，艾华集团A股上市后累计派现16.57亿元。近三年，累计派现2.85亿元。 机构持仓方面，截止2025年6月30日，艾华集团十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股508.04万股，相比上期增加290.62万股。招商量化精选股票发起式A（001917）位居第五 大流通股东，持股275.74万股，相比上期增加155.75万股。大成竞争优势混合A（090013）位居第十大 流通股东，持股87.08万股，持股数量较上期不变。南方中证1000ETF（512100）退出十大流通股东之 列。 责任编辑：小浪快报 9月25日，艾华集团涨0.63%，成交额1.46亿元。两融数据显示，当日艾华集团获融资买入额1265.26万 元，融资偿还1633.07万元，融资净买入-367.81万元。截至9月25日，艾华集团融资融券余额合计1.80亿 元。 融资方面，艾华 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码:002484 证券简称：江海股份 公告编号：2025-048 南通江海电容器股份有限公司 第七届董事会第六次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗漏。 南通江海电容器股份有限公司（以下简称"公司"）第七届董事会第六次会议（以下简称"会议"）通知于 2025年9月18日以微信方式发出，会议于2025年9月25日在公司一楼会议室以现场结合通讯的方式召开， 应到董事9人，实到董事9人。公司高级管理人员列席了本次会议。本次会议的召集、召开以及参与表决 董事人数符合《中华人民共和国公司法》、《公司章程》等有关法律、法规的规定。会议由公司董事长 陈卫东先生主持，经参加会议董事认真审议并经记名投票方式表决审议了以下议案： 一、逐项审议通过《关于制定、修订、废止公司部分制度的议案》 根据《中华人民共和国公司法》、《上市公司章程指引》、《深圳证券交易所主板股票上市规则》、 《深圳证券交易所上市公司自律监管指引第1号一一主板上市公司规范运作》等最新法律、法规、规范 性文件的相关规定及新修订的《公司章程》，结合公 ...

9月24日，江海股份涨0.18%，成交额9.87亿元。两融数据显示，当日江海股份获融资买入额1.14亿元， 融资偿还1.39亿元，融资净买入-2463.74万元。截至9月24日，江海股份融资融券余额合计8.57亿元。 融资方面，江海股份当日融资买入1.14亿元。当前融资余额8.55亿元，占流通市值的3.08%，融资余额 超过近一年80%分位水平，处于高位。 融券方面，江海股份9月24日融券偿还700.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00 元；融券余量6.01万股，融券余额196.23万元，低于近一年40%分位水平，处于较低位。 分红方面，江海股份A股上市后累计派现12.12亿元。近三年，累计派现5.65亿元。 机构持仓方面，截止2025年6月30日，江海股份十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股1377.28万股，相比上期减少4.12万股。中欧时代先锋股票A（001938）位居第七大流通股 东，持股1050.00万股，为新进股东。宏利转型机遇股票A（000828）位居第八大流通股东，持股929.58 万股，持股数量较上期不变。国投瑞银新能源混合A（007689 ...

Group 1: Company Overview - Jianghai Capacitor Co., Ltd. is listed under stock code 002484 [1] - The investor relations activity took place on September 16, 2025, from 15:00 to 16:30 [2] Group 2: Current Business Situation - The company provided a brief introduction regarding its current operational status [2] - The future growth points for aluminum electrolytic capacitors, particularly in AI applications, were discussed [2] Group 3: Product Development and Market Trends - The application of aluminum electrolytic capacitors is expected to increase with the growing power of AI servers [3] - The cost of materials, particularly for the formation foil, is anticipated to decrease with the integration of green electricity [2] - The development direction for film capacitors is slightly below expectations, with continued expansion in automotive film capacitors [3] Group 4: Supercapacitor Applications - Supercapacitors are being applied in AI server setups, with both EDLC and LIC solutions available [3] - The company is in discussions with relevant manufacturers regarding technical solutions for supercapacitors [3] - Other major application areas for supercapacitors include smart meters, wind power pitch control, smart grid upgrades, rail transit, oil-to-electric projects, and port machinery [3] Group 5: Information Disclosure Compliance - The company adhered to the regulations of the Information Disclosure Management System, ensuring that no undisclosed significant information was leaked during the meeting [3]

Group 1 - The core viewpoint of the article is that Farah Electronics (600563.SH) has indicated that its film capacitors can be used in solid-state batteries for applications in new energy vehicles, energy storage, and robotics [1] Group 2 - The company is focusing on the integration of its products with emerging technologies in the new energy sector [1] - The applications mentioned highlight the growing demand for advanced components in the electric vehicle and energy storage markets [1] - The use of film capacitors in solid-state batteries suggests a potential for innovation and competitive advantage in the industry [1]

Group 1 - The core point of the news is the performance and market position of Aihua Group, which saw a stock price increase of 5.11% to 18.73 CNY per share, with a total market capitalization of 7.513 billion CNY [1] - Aihua Group, established on December 29, 1993, and listed on May 15, 2015, specializes in the production and sales of capacitors, capacitor raw materials, and related equipment [1] - The revenue composition of Aihua Group includes: industrial control/new energy 49.04%, consumer power/electronics 34.36%, lighting 12.60%, others 2.68%, and electrolytic foil 1.32% [1] Group 2 - From the perspective of major shareholders, a fund under China Merchants Fund, the "China Merchants Quantitative Selected Stock A" (001917), increased its holdings by 1.5575 million shares in the second quarter, holding a total of 2.7574 million shares, accounting for 0.69% of the circulating shares [2] - The fund has achieved a year-to-date return of 36.6% and a one-year return of 74.15%, ranking 762 out of 4222 and 938 out of 3798 respectively [2] - The fund manager, Wang Ping, has a tenure of 15 years and has achieved a best fund return of 267.21% during his management period [3] Group 3 - Another fund under China Merchants Fund, the "China Merchants National Index 2000 Enhanced A" (018786), held 55,600 shares of Aihua Group in the second quarter, representing 0.69% of the fund's net value [4] - This fund has achieved a year-to-date return of 32.99% and a one-year return of 72.19%, ranking 1007 out of 4222 and 1000 out of 3798 respectively [4] - The fund manager, Deng Tong, has a tenure of 3 years and has achieved a best fund return of 68.53% during his management period [5]

Group 1 - Jiangsu Jianghai Capacitor Co., Ltd. experienced a stock price increase of 5.02% on September 5, reaching 32.66 CNY per share, with a trading volume of 1.537 billion CNY and a turnover rate of 5.91%, resulting in a total market capitalization of 27.778 billion CNY [1] - The company's main business includes the research, production, sales, and service of capacitors and their materials, with revenue composition as follows: aluminum electrolytic capacitors 82.75%, film capacitors 8.65%, supercapacitors 6.00%, electrode foil 2.00%, and others 0.60% [1] Group 2 - Manulife Fund's "Manulife Transformation Opportunity Stock A" (000828) holds 9.2958 million shares of Jianghai Co., representing 1.13% of the circulating shares, with an estimated floating profit of approximately 14.5014 million CNY [2] - The fund has a total scale of 3.028 billion CNY, with a year-to-date return of 53.64%, ranking 134 out of 4222 in its category, and a one-year return of 103.46%, ranking 133 out of 3795 [2] Group 3 - The fund manager of "Manulife Transformation Opportunity Stock A" is Meng Jie, who has been in the position for 5 years, with the fund's total asset scale at 4.785 billion CNY and the best return during his tenure being 65.4% [3] Group 4 - "Manulife Transformation Opportunity Stock A" has Jianghai Co. as its fifth-largest heavy stock, holding 9.2958 million shares, which accounts for 5.71% of the fund's net value, with an estimated floating profit of approximately 14.5014 million CNY [4]

Core Insights - The company achieved a record high revenue in a single quarter, with 1H25 revenue reaching 2.694 billion yuan (YoY +13.96%) and net profit attributable to shareholders at 358 million yuan (YoY +3.19%) [1] - In 2Q25, the company reported revenue of 1.536 billion yuan (YoY +17.02%, QoQ +32.69%) and net profit attributable to shareholders of 206 million yuan (YoY -1.92%, QoQ +35.82%) [1] - The company's gross margin for 1H25 was 24.93% (YoY -0.01 percentage points) and net margin was 13.42% (YoY -1.46 percentage points) [1] Aluminum Electrolytic Capacitors - Revenue from aluminum electrolytic capacitors reached 2.229 billion yuan in 1H25 (YoY +16.70%) with a gross margin of 26.75% (YoY +0.19%) [2] - Growth was driven by increased demand in the photovoltaic sector due to a shift to market-based pricing and sustained demand in UPS and communication power supply sectors [2] - New product developments include MLPC for AI servers and solid-liquid hybrid capacitors for the automotive sector, with expectations for increased demand for high-voltage capacitors [2] Supercapacitors - Supercapacitor revenue was 162 million yuan in 1H25 (YoY +48.93%) with a gross margin of 16.86% (YoY -3.71%) [3] - The decline in gross margin is attributed to the company's efforts to explore new application areas for supercapacitors [3] - Supercapacitors are expected to become standard components in AI computing clusters due to their ability to provide instantaneous power compensation during power fluctuations [3] Investment Outlook - The company has raised its profit forecast, expecting net profits attributable to shareholders of 800 million yuan, 1.1 billion yuan, and 1.5 billion yuan for 2025-2027, with growth rates of 17%, 45%, and 38% respectively [4] - Current stock price corresponds to PE ratios of 36, 26, and 19 times for the respective years [4]

Summary of Conference Call Records Industry Overview - The conference call discusses the capacitor industry, specifically focusing on the use of capacitors in data centers and high-voltage direct current (HVDC) systems. The key components mentioned include the "horn capacitor" (a type of aluminum electrolytic capacitor), EDLC (Electric Double Layer Capacitor), and LIC (Lithium Ion Capacitor) [1][2][3]. Key Points and Arguments 1. **Data Center Upgrades**: The upgrade to GB300 in data centers aims to address customer complaints related to unstable power supply pulses by introducing active sub-card structures and advanced filtering components like supercapacitors, significantly reducing complaint rates [1]. 2. **Demand for Horn Capacitors**: The demand for horn capacitors is increasing due to higher system operating voltages, indicating a growing need for high-performance filtering components in high-voltage applications [1][10]. 3. **Capacitor Usage in Power Systems**: Capacitors are categorized into three levels in power systems: - Level 1: Input stage (200V or 300V) using aluminum electrolytic capacitors for initial purification and noise reduction. - Level 2: Medium voltage conversion (48V to 54V) where horn capacitors and supercapacitors may be used. - Level 3: Low voltage conversion (3.3V to 0.65V) requiring supercapacitors to ensure high purity and stability [3][4][5]. 4. **Cost Comparison**: The unit price of horn capacitors is approximately 50 yuan, while EDLCs range from 20 to 40 yuan. However, due to the larger capacity of horn capacitors, the actual cost is lower in high-performance applications [3][10]. 5. **Market Trends**: Major CSP manufacturers like Meta and Google are adopting horn capacitors and EDLC solutions, indicating a trend towards supercapacitor solutions in the industry [1][14]. 6. **HVDC Applications**: Horn capacitors are being considered for HVDC systems to improve ripple issues in power supply, with Meta and Google actively researching their implementation [2][17]. 7. **Future Demand**: The demand for horn capacitors is expected to continue increasing as system voltages rise, necessitating stronger filtering capabilities [10]. 8. **Competition Landscape**: The horn capacitor market is primarily dominated by Japanese companies, with domestic players like Jianghai actively participating in the competition [22][24]. Additional Important Insights - **Customer Complaint Reduction**: The introduction of active sub-card structures in data center designs allows for easier replacement of faulty components, reducing the need for complete system repairs and thus lowering customer complaints [6]. - **Capacitor Functionality**: Capacitors serve to filter and eliminate overshoot, protecting chips from damage and providing short-term energy storage [9]. - **Future Trends in Capacitor Demand**: There may be new demand points for capacitors, such as enhanced inductors on server boards, indicating potential opportunities for innovation in the capacitor market [32]. This summary encapsulates the critical insights from the conference call, highlighting the trends, challenges, and competitive landscape within the capacitor industry, particularly in relation to data centers and HVDC systems.

Group 1 - The company announced that its stock price experienced an abnormal fluctuation, with a cumulative increase of over 20% from August 27 to 29, 2025 [1] - The board of directors confirmed that there are no undisclosed matters that could significantly impact the stock price [1] - The company conducted a comprehensive self-examination regarding the stock price fluctuation [1] Group 2 - The company's production and operational conditions remain normal, with no significant changes in the internal and external operating environment [2] - There are no major undisclosed information that should have been disclosed [2] - The controlling shareholders and actual controllers did not engage in stock trading during this period [2]