中新网约翰内斯堡11月27日电 (记者 孙翔)由浙非服务中心(杭州市钱塘区浙非文化经贸服务中心)组织的 商务考察团近日在南非觅商机，围绕中非投资合作机遇、跨境贸易便利化与重点产业项目合作进行了深 入研讨，分享当地市场及投资环境观察。 座谈会上，考察团代表与中国建设银行约翰内斯堡分行副总经理李斌、中非发展基金投资总监于庆及浙 江省商务厅驻南非(非洲)代表处首席代表陈伟航进行了交流互动。 浙非服务 中心组织的商务考察团近日在南非觅商机。图为11月24日，考察团在约翰内斯堡召开座谈会。中新网记 者 孙翔 摄 局、供应链体系和市场拓展策略。双方就当地医疗市场需求、设备维保体系、技术培训、人才培养等进 行了深入交流。(完) 建设银行约堡分行副总经理李斌介绍了分行25年来在南非市场的经验做法，强调服务中资企业和支持中 非经贸往来的重要性，并介绍银行为企业提供跨境金融支持方案。 与会企业代表也分享了各自在非洲已投资或计划关注的重点领域，包括产业园建设、电缆、矿产等领 域。此次随团企业包括浙江金鑫钢结构集团有限公司、杭州中策电缆有限公司、江西杭缆电缆有限公 司、万邦德集团有限公司、杭州钱塘新区建设投资集团有限公司、北江新型建 ...

公司控股股东中超集团及其一致行动人杨飞先生合计持有公司股份约2.26亿股，占公司总股本的 16.55%，中超集团及其一致行动人杨飞累计质押所持有公司股份约1.85亿股，占其所持公司股份的 81.86%。 2025年1至6月份，中超控股的营业收入构成为：电缆行业占比98.77%，其他占比0.91%，电缆配件行业 占比0.32%。 截至发稿，中超控股市值为56亿元。 每经AI快讯，中超控股（SZ 002471，收盘价：4.1元）11月27日晚间发布公告称，近日公司接到控股股 东江苏中超投资集团有限公司（以下简称"中超集团"）的通知，获悉中超集团将其持有公司的部分股份 解除质押，本次解除质押2100万股。 每经头条（nbdtoutiao）——灌水21万亿，高市早苗1.7万亿强化国防！日本负债率已远超债务危机时的 希腊，对美巨额投资致大规模资本外流，"卖出日元成国际趋势" （记者 王晓波） ...

Core Viewpoint - The leakage cable industry is a significant segment of the cable sector, focusing on the production of specialized cables with signal transmission and antenna functions, experiencing continuous growth due to rapid advancements in mobile communication and rail transit sectors, supported by favorable national policies [1][9]. Industry Overview - Leakage cables, also known as leakage coaxial cables, are designed with periodic slots in the outer conductor, allowing electromagnetic wave transmission and radiation, making them essential for wireless communication in confined spaces like subways and tunnels [3][4]. - The leakage cable market in China reached a size of 2.9 billion yuan in 2019, projected to grow to 6.21 billion yuan by 2024, with a compound annual growth rate (CAGR) of 16.4% [1][10]. Industry Chain - The leakage cable industry consists of three main segments: upstream (raw material suppliers), midstream (manufacturing), and downstream (application fields). The upstream includes suppliers of metals like copper and aluminum, while the midstream focuses on the production processes, and the downstream involves applications in various sectors such as transportation and security [6][7]. - Copper is the primary raw material for leakage cables, with China's copper production maintaining over 20 million tons annually. In 2023, copper production decreased by 3.04%, but is expected to rebound by 6.01% in 2024 [7]. Market Dynamics - The urban rail transit sector is a major application area for leakage cables, with the total operational mileage of urban rail transit in China expected to increase from 7,973.41 kilometers in 2020 to 12,160.77 kilometers by 2024, enhancing the demand for reliable signal systems [8][9]. - Domestic companies like Zhongtian Technology and Tongding Interconnection have made significant technological advancements, breaking foreign monopolies in high-end leakage cable markets [11]. Development Trends - High performance is a key future trend, with leakage cables expected to evolve towards higher transmission rates, lower losses, and stronger anti-interference capabilities, particularly to meet the demands of 5G technology [14]. - The application scenarios for leakage cables are diversifying beyond traditional uses, with emerging areas such as smart mining and emergency communications gaining traction [15]. - Industry consolidation is anticipated, with leading companies likely to integrate vertically to control raw material supply and expand their market presence through strategic partnerships and acquisitions [16].

Core Viewpoint - The company is committed to a global operational strategy, actively integrating into the new dual circulation development pattern, and expanding its international presence in various regions, including Europe and the Middle East [2]. Group 1: Global Strategy and Expansion - The company has established a global layout in communication networks and energy interconnection across five continents, with 12 overseas industrial bases [2]. - Recent acquisitions include the German specialty fiber producer j-fiber and PT Voksel, a leading cable solution provider in Indonesia [2]. - By 2025, the company aims to develop its optical communication industrial bases in Egypt, Indonesia, and Mexico, while continuing to expand its power product offerings in Europe, Latin America, Southeast Asia, the Middle East, and North Africa [2]. Group 2: Market Competitiveness and Brand Value - The company's global operations and market competitiveness are continuously improving, leading to a significant enhancement in brand value [2]. - The company has achieved breakthroughs with overseas customers, resulting in a notable increase in brand influence [2].

Core Insights - Dongfang Cable achieved a net profit attributable to shareholders of 914 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 1.95% [1] - In Q3 2025, the net profit attributable to shareholders was 441 million yuan, showing a year-on-year increase of 53.12% and a quarter-on-quarter increase of 129.63% [1] - The increase in quarterly performance was driven by a rise in high-margin submarine cable shipments [1] Order Backlog - As of October 23, 2025, the company had an order backlog of approximately 19.551 billion yuan, which includes 3.886 billion yuan for power engineering and equipment cables, 11.737 billion yuan for submarine and high-voltage cables, and 3.928 billion yuan for marine equipment and engineering operations [1] - The order backlog remained relatively stable compared to the mid-2025 report, with a decrease of about 1.1 billion yuan in power engineering and equipment cable orders, an increase of about 700 million yuan in submarine and high-voltage cable orders, and an increase of about 300 million yuan in marine equipment and engineering operations [1] Investment Rating - The company maintains an "Overweight" rating [1]

Core Viewpoint - Yili Group has reduced its stake in Solar Cable by 1.1%, decreasing its ownership from 15% to 13.9% [1] Summary by Sections - **Share Reduction Details** - Yili Group sold a total of 7,973,374 shares of Solar Cable on November 13 through both centralized bidding and block trading [1] - The breakdown of the share reduction includes 1,350,000 shares sold via centralized bidding and 6,623,374 shares sold through block trading [1] - **Ownership Changes** - Prior to the reduction, Yili Group held 15% of Solar Cable's total shares [1] - Following the reduction, Yili Group's ownership is now 13.9% of the total shares [1]

Group 1 - The core issue facing the manufacturing industry in China is the volatility of raw material prices, particularly lithium carbonate, which directly impacts profit margins for companies [1] - Companies are increasingly turning to innovative financial tools provided by futures companies to manage market fluctuations and stabilize their operations [1][6] Group 2 - South China Futures customized a hedging system for a lithium carbonate company, enabling them to understand hedging principles and utilize complex tools like "circuit breaker enhanced cumulative put options" [2] - In a practical application, the company achieved an opening average price of 82,490 yuan/ton with an initial hedging volume of 30 tons, resulting in a 490 yuan/ton advantage compared to direct futures short selling [2] Group 3 - Dongwu Futures provided a "price lock without quantity lock" solution for a cable company, allowing them to cap procurement costs while retaining profit opportunities if prices fell [3] - This approach helped the company save 1.2 million yuan in procurement costs over a period, translating to approximately 461 yuan saved per ton [3] Group 4 - Guotai Junan Futures assisted Ningbo X Group in managing funding costs by recommending the use of 30-year government bond futures to hedge against high funding costs during a declining interest rate cycle [4] - The simulation indicated that holding the TL contract could reduce annual funding costs by 0.95% for a capital scale of 500 million yuan, with a margin requirement of about 1.15 million yuan [4] Group 5 - The use of futures tools is driving a significant shift in corporate management philosophy from passive pressure acceptance to active risk management [6] - Futures companies are evolving from mere channel providers to comprehensive service providers, offering a full suite of financial services that includes diagnosis, design, execution, and evaluation [6] - As more companies adopt these tools, the risk management capabilities and international competitiveness of Chinese manufacturing are improving [6]

Core Insights - Sun Cable experienced significant trading activity on November 13, with a total of 6.6234 million shares traded, amounting to 50.735 million yuan, at a price of 7.66 yuan, reflecting a discount of 7.93% compared to the closing price of the day [2][3] - Over the past three months, Sun Cable has recorded 15 block trades, totaling 95.8806 million yuan [2] - The stock closed at 8.32 yuan, up 1.09%, with a turnover rate of 18.13% and a total trading volume of 1.087 billion yuan on the same day [2] Trading Data - The latest margin financing balance for Sun Cable is 201 million yuan, with an increase of 88.9239 million yuan over the past five days, representing a growth of 79.22% [3] - The block trade details on November 13 include: - 301.70 thousand shares traded for 2,311.02 thousand yuan at 7.66 yuan, with a discount of 7.93% [3] - 130.00 thousand shares traded for 995.80 thousand yuan at the same price and discount [3] - Additional trades included 96.40 thousand shares for 738.42 thousand yuan, 90.00 thousand shares for 689.40 thousand yuan, and 44.24 thousand shares for 338.86 thousand yuan, all at 7.66 yuan with the same discount [3]

Group 1 - Jiangsu Province has announced the first batch of 30 zero-carbon (near-zero carbon) factories, with three companies from the city making the list, ranking first in the province for the number of entries [1] - Zero-carbon factories must achieve a self-reduction rate of no less than 80% based on provincial or higher-level green factory standards, while near-zero carbon factories must reach a self-reduction rate of over 50% [1] - BorgWarner's Suzhou facility focuses on the development and manufacturing of power control modules for electric vehicles, implementing advanced energy-saving technologies and achieving 100% renewable electricity usage last year [1] Group 2 - Companies included in the near-zero carbon factory list are Jiangsu Yongding Co., Ltd., Kunshan Huaguan Trademark Printing Co., Ltd., and Jiangsu Hengtong Power Cable Co., Ltd. [2] - Yongding is recognized as a green leader in the optical cable industry, optimizing production processes through green innovation and establishing distributed photovoltaic power stations [2] - Since 2022, the city has initiated the construction of 19 zero-carbon factories and 80 near-zero carbon factories, laying a solid foundation for provincial-level zero-carbon (near-zero carbon) factory development [2]

Core Insights - The performance of A-share listed companies in China has shown significant improvement in the first three quarters of the year, with total operating revenue reaching 53.46 trillion yuan and net profit at 4.7 trillion yuan, indicating a nearly 80% profitability rate across 4,183 companies [3] - The third quarter saw year-on-year revenue and net profit growth of 3.82% and 11.45%, respectively, with a quarter-on-quarter increase of 2.40% and 14.12%, reflecting a solid upward trend [3] - Key industries such as new energy vehicles, solid-state batteries, superhard materials, film and television, and logistics have performed exceptionally well, highlighting the role of technological innovation in driving high-quality development [3][4] Financial Performance - In the Shanghai Stock Exchange, listed companies achieved a total operating revenue of 37.58 trillion yuan in the first three quarters, a slight year-on-year increase, with net profit rising to 3.79 trillion yuan, up 4.5% [4] - Private enterprises showed a positive trend with net profit growth rates of 0.4%, 12.3%, and 17.2% over the first three quarters, indicating a consistent improvement [4] - A total of 501 companies announced dividend plans, with cash dividends exceeding 600 billion yuan, marking a 3.3% increase year-on-year [4] R&D Investment - Companies in Shenzhen reported a total R&D expenditure of 518 billion yuan in the first three quarters, a 6.20% increase year-on-year, with a research intensity of 3.29% [5] - Notable companies like BYD, ZTE, and CATL have invested over 5 billion yuan in R&D, contributing to a continuous increase in innovation and product development [5] - Over 70% of companies on the Growth Enterprise Market achieved profitability, with more than 50% reporting profit growth [5] Industry Innovations - Companies like Daoming Optics and Qiaoguan Cable have made significant advancements in product development, enhancing their market competitiveness [6] - Shandong Steel reported a net profit increase of over 100%, attributed to higher product value, particularly in high-end marine equipment [8][9] - China Railway High-tech's new tunneling machine exemplifies the integration of innovative technologies to improve construction efficiency [10] International Expansion - Overseas markets are becoming increasingly important for growth, with companies like Zoomlion reporting 57.36% of total revenue from international sales, a 6.05 percentage point increase year-on-year [12] - Companies such as Hengyu Environmental Technology have successfully established their technologies in multiple countries, enhancing their international reputation and market position [13] - The establishment of localized supply chains in regions like Southeast Asia and the Middle East is contributing to stable operations and improved profitability [14]