Group 1: Industry Focus and Growth Areas - The company identifies key growth areas in the aerospace and integrated equipment sector, metallurgy and mining, and strategic emerging industries such as robotics and high-performance data transmission cables [2][3] - The demand for special cables in the metallurgy and mining sector is increasing due to heightened safety requirements [2][3] Group 2: Competitive Advantages - The company maintains a stable customer base, with over 80% of clients being large state-owned enterprises or listed companies, ensuring sustained profitability [3] - The company has 74 years of technical expertise in the special cable sector, particularly in aerospace and integrated equipment, which contributes to its competitive edge [3] Group 3: Acquisition Plans - The company has signed a letter of intent for the acquisition of Xingxin Aerospace, with the completion timeline dependent on due diligence and necessary approvals [3] - Mergers and acquisitions are part of the company's ongoing strategy to enhance its position as a leading enterprise in high-end cable integration and intelligent composite transmission [3] Group 4: Product Applications and Orders - The company's products are primarily used in aerospace, metallurgy, rail transportation, petrochemicals, and renewable energy sectors, with significant growth expected in metallurgy and rail transportation in 2024 [4] - The company has a substantial backlog of orders, significantly increased compared to the same period last year, primarily from large state-owned enterprises [5] Group 5: Cost Reduction and Efficiency Measures - The company is implementing measures to reduce costs and improve efficiency, including advancing digitalization and smart manufacturing, and optimizing raw material procurement [5] - Production cycles for different products range from 7 to 15 days, subject to adjustments based on customer orders and internal scheduling [5]

2024年，在全球经济复杂多变、国内产业结构加速调整的背景下，专精特新"小巨人"企业太湖远大 （920118.BJ）以创新驱动+市场拓展构筑成长新格局。 4月25日，太湖远大发布2024年年报，依托公司多年深耕细分领域的品牌影响力，公司通过加强内部管 理和加大研发投入等措施积极应对挑战。公司在"专注、专心、专业"的战略方针指导下，公司不仅在国 内市场提升了占有率，还在国际市场拓展方面取得了重要突破。 年报显示，公司全年实现营业收入15.94亿元，同比增长4.64%；归母净利润7051.05万元，同比微降 8.97%。尽管利润端受成本压力影响，但公司在复杂的经济环境下仍保持稳健增长；总资产规模突破 12.52亿元，较期初大幅增长32.66%，展现出良好的资产扩张能力。更值得关注的是，公司净资产达到 5.92亿元，同比大增41.76%，每股净资产11.64元，较期初增长21.38%，资产质量持续优化。 太湖远大是一家集环保型线缆用高分子材料研发、制造、销售、服务为一体的国家高新技术企业、国家 级专精特新"小巨人"企业，主要产品有"太湖远大"牌硅烷交联聚乙烯电缆料、化学交联聚乙烯电缆料、 低烟无卤电缆料、半导电内外 ...

□ 本报记者胡春春 当前，2025年一季报进入披露高峰期。据不完全统计，截至目前，约有近百家江苏上市公司，或在一季 报、或在与投资者交流过程中，明确表示订单充足、订单增长。从整体观察看，今年以来，新兴产业订 单增量较大，传统行业努力稳住营收，海外市场拓展成绩陆续落地，呈现出大单"亮眼"、海外订单占比 增加、高端制造占据盈利点C位等特点，尤其是许多企业海外订单营收占比超过了50%。 政策利好，手握大额订单 扬杰科技董秘范锋斌介绍，目前公司处于满产满销状态，越南二期项目也已启动，预计在2025年底实现 量产。未来公司有望凭借海外渠道和品牌优势加速海外市场渗透，全球化战略将进一步提升公司在国际 市场的综合实力。 无锡的德科立是光电子器件行业比较有代表性的江苏企业。光电子器件企业的发展，离不开国际市场锤 炼与竞争。和扬杰科技一样，德科立也非常重视海外市场的布局。去年，该公司实现营业总收入8.41亿 元，同比增长2.79%；归属净利润1亿元，同比增长9.07%，其中海外市场收入占比逾30%。德科立相关 负责人表示，随着泰国制造基地的投产运营，未来3—5年内，公司海外需求有望攀升，收益弹性或将远 超国内。 光通信行业龙头 ...

公司始终秉持"安全第一"的理念，强化安全管理，持续优化安全措施。建立健全安全管理体系，强化责任落实，将安全目标分解到每个岗位，做到"人人 有责、层层负责"；强化安全教育与培训，通过线上课程、实操演练、安全知识竞赛等多种形式，显著提升员工的安全知识技能；建立实施安全隐患内部 报告奖励机制，收集、分析员工报告的隐患情况，及时采取针对性措施加以改进，不断提高安全生产水平。 近日，苏州市应急管理局公布了苏州市2025年度工贸行业安全生产"白名单"企业，苏州市相城区度假区(阳澄湖镇)的苏州宝兴电线电缆有限公司上榜！ 苏州宝兴电线电缆有限公司成立于2000年，二十多年来深耕线缆行业。先后荣获"国家高新技术企业""江苏省名牌产品""苏州市品牌产品""中国光伏电缆 10强企业""全省机械行业创新型先进企业"等荣誉称号，拥有"江苏省新能源专用特种电缆工程技术研究中心"。 公司持续筑牢安全生产防线，交出亮眼答卷，2024年创建通过江苏省二级安全生产标准化企业，2025年成功入选苏州市安全生产白名单企业。公司将持续 推进安全管理智能化升级，让安全生产成为企业发展的永恒底色，推动公司在高质量发展的道路上稳步前行。 下一步，度假区(阳 ...

Financial Performance - The company reported a basic earnings per share of 0.0600 yuan for Q1 2025, representing a 50% increase compared to 0.0400 yuan in Q1 2024 [1] - Net profit for Q1 2025 was 0.32 billion yuan, up 52.38% from 0.21 billion yuan in Q1 2024 [1] - Operating revenue reached 10.05 billion yuan in Q1 2025, an increase of 11.3% from 9.03 billion yuan in Q1 2024 [1] - The return on equity (ROE) improved to 1.96% in Q1 2025, compared to 1.33% in Q1 2024, marking a 47.37% increase [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 60.3943 million shares, accounting for 22.35% of the circulating shares, which is a decrease of 21.4416 million shares from the previous period [2] - Notable shareholders include Hunan Xingxiang Investment Holding Group Co., Ltd. with 24.8571 million shares (9.20%) and Hunan Provincial State-owned Enterprise M&A Fund Management Co., Ltd. with 20.6673 million shares (7.65%), both remaining unchanged [2] - Several new shareholders have entered the top ten, including Ma Sen with 1.8704 million shares (0.69%) and He Jie with 1.5000 million shares (0.56%) [2] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares this time [3]

Performance Overview - The total revenue of Tongguang Cable in Q1 2025 was 396 million yuan, a decrease of 12.98% compared to the same period last year [1] - The net profit attributable to the parent company was 5.58 million yuan, down 49.47% year-on-year [1] - The net profit after deducting non-recurring items was 4.26 million yuan, a decline of 33.7% year-on-year [1] Profitability Analysis - The company's gross margin was 19.35%, an increase of 22.18% year-on-year [2] - However, the net profit margin was only 1.69%, a decrease of 37.55% year-on-year, indicating challenges in cost and expense control [2] Expense Control - Total expenditures on sales, management, and financial expenses amounted to 46.77 million yuan, accounting for 11.8% of total revenue, an increase of 13.26% year-on-year [3] Cash Flow and Debt - As of the end of the reporting period, the company's cash and cash equivalents were 354 million yuan, a decrease of 12.09% year-on-year [4] - Accounts receivable reached 1.163 billion yuan, representing 2481.81% of the latest annual net profit, indicating significant pressure in accounts receivable management [4] - Interest-bearing debt was 511 million yuan, an increase of 24.52% year-on-year, indicating a heavier debt burden [4] Per Share Metrics - The net asset per share was 4.86 yuan, a decrease of 0.95% year-on-year [5] - Earnings per share were 0.01 yuan, down 50.0% year-on-year [5] - Operating cash flow per share was -0.1 yuan, although it improved by 34.63% year-on-year, it remains negative, indicating significant cash outflow from operations [5] Business Model and Capital Return - The company's performance primarily relies on R&D, marketing, and equity financing [6] - The last year's Return on Invested Capital (ROIC) was 2.38%, indicating weak capital returns, with a net profit margin of 2%, suggesting low added value of products or services [6] Summary - Overall, Tongguang Cable's financial performance in Q1 2025 was unsatisfactory, particularly in terms of profitability and cash flow [7] - The company needs to focus on managing accounts receivable and improving cash flow to ensure sustainable development in the future [7]

Group 1: 华盛锂电 - Company plans to invest in a project to produce 60,000 tons of vinyl carbonate annually, with the first phase targeting 30,000 tons [1] - Total investment for the project is approximately 950 million yuan, funded by the company's own or raised funds [1][2] Group 2: 万里扬 - Shareholder plans to reduce holdings by up to 1.5% of the company's total shares, equating to a maximum of 19.69 million shares [3] - The reduction is due to the shareholder's own funding needs [3][4] Group 3: 云南旅游 - Company intends to raise no more than 191 million yuan through a private placement of up to 304 million shares [5] - Funds will be used for the construction of a cultural tourism equipment industrial park and to repay debts [5][6] Group 4: 冠农股份 - Company reported a 71.58% decline in net profit for 2024, amounting to 205 million yuan [9] - Revenue decreased by 11.15% to 3.863 billion yuan, with a proposed cash dividend of 0.8 yuan per 10 shares [9][10] Group 5: 华光新材 - Company achieved a 93.78% increase in net profit for 2024, totaling 80.6174 million yuan [11] - Revenue grew by 35.52% to 1.918 billion yuan, with a proposed cash dividend of 2.77 yuan per 10 shares [11][12] Group 6: 南大光电 - Company reported a 28.15% increase in net profit for 2024, reaching 271 million yuan [13] - Revenue increased by 38.08% to 2.352 billion yuan, with a proposed cash dividend of 1 yuan per 10 shares and a stock bonus of 2 shares for every 10 shares held [13][14] Group 7: 博瑞医药 - Company experienced a 6.57% decrease in net profit for 2024, amounting to 189 million yuan [15] - Revenue increased by 8.74% to 1.283 billion yuan, with a proposed cash dividend of 0.96 yuan per 10 shares [15][16] Group 8: 贵州茅台 - Company reported a 15.38% increase in net profit for 2024, totaling 862 million yuan [17] - Revenue grew by 15.71% to 170.9 billion yuan, with a proposed cash dividend of 276.24 yuan per 10 shares [17][18] Group 9: 西部建设 - Company reported a net loss of 263 million yuan for 2024, compared to a profit of 645 million yuan in 2023 [19] - Revenue decreased by 11.01% to 20.347 billion yuan, with a proposed cash dividend of 1.25 yuan per 10 shares [19][20] Group 10: 锡业股份 - Company achieved a 2.55% increase in net profit for 2024, totaling 1.444 billion yuan [21] - Revenue slightly decreased by 0.91% to 41.973 billion yuan, with a proposed cash dividend of 1.9 yuan per 10 shares [21][22] Group 11: 海天味业 - Company reported a 12.75% increase in net profit for 2024, amounting to 6.344 billion yuan [23] - Revenue increased by 9.53% to 26.901 billion yuan, with a proposed cash dividend of 8.6 yuan per 10 shares [23][24] Group 12: 台基股份 - Company experienced an 18.77% decrease in net profit for 2024, totaling 25.2935 million yuan [25] - Revenue increased by 10.76% to 354 million yuan, with a proposed cash dividend of 0.8 yuan per 10 shares [25][26] Group 13: 金盘科技 - Company reported a 13.82% increase in net profit for 2024, amounting to 574 million yuan [27] - Revenue grew by 3.5% to 6.901 billion yuan, with a proposed cash dividend of 5.06 yuan per 10 shares [27][28] Group 14: 中油资本 - Company reported an 8.14% decrease in net profit for 2024, totaling 4.652 billion yuan [29] - Revenue slightly increased by 0.08% to 39.024 billion yuan, with a proposed cash dividend of 0.57 yuan per 10 shares [29][30] Group 15: 锐捷网络 - Company achieved a 43.09% increase in net profit for 2024, amounting to 574 million yuan [31] - Revenue increased by 1.36% to 11.699 billion yuan, with a proposed cash dividend of 6.06 yuan per 10 shares and a stock bonus of 4 shares for every 10 shares held [31][32] Group 16: 华瓷股份 - Company reported a 14.21% increase in net profit for 2024, totaling 205 million yuan [33] - Revenue grew by 8.79% to 1.34 billion yuan, with a proposed cash dividend of 4 yuan per 10 shares [33][34] Group 17: 金龙羽 - Company experienced a 14.14% decrease in net profit for 2024, amounting to 14 million yuan [35] - Revenue decreased by 6.53% to 3.675 billion yuan, with a proposed cash dividend of 3 yuan per 10 shares [35][36] Group 18: 恒帅股份 - Company reported a 5.75% increase in net profit for 2024, totaling 214 million yuan [37] - Revenue increased by 4.21% to 962 million yuan, with a proposed cash dividend of 4 yuan per 10 shares and a stock bonus of 4 shares for every 10 shares held [37][38] Group 19: 爱玛科技 - Company expects a 25.12% increase in net profit for the first quarter of 2025, amounting to 605 million yuan [39] - Main business includes the development, production, and sales of electric bicycles and motorcycles [39][40] Group 20: 西王食品 - Company reported a net loss of 444 million yuan for 2024, compared to a loss of 16.8658 million yuan in 2023 [41] - Revenue decreased by 9.43% to 4.972 billion yuan [41][42]

"这一轮制造业格局重组会持续 10 - 15 年。" 文 丨 郑可书 曾兴 编辑 丨 管艺雯 制造业是流浪的产业，逐低成本而居。上个世纪，工厂们从美国迁移到日本，再转向以韩国为代表的 "亚洲四小龙"，在 1980 年代后涌向成本低廉、市场广阔的中国。刚改革开放的中国以 "三来一 补"（来料加工、来样加工、来件装配）式的政策热情迎接，又在本世纪初加入世贸组织，严丝合缝地 嵌入全球供应链的各个节点。 此后 20 年，数以亿计的农村劳动力涌向城镇，用流水线上的劳作托举中国成为 "世界工厂"。各节点 上的制造企业们为国际巨头代工、与国际同行竞争，以留在本地的姿态融入全球贸易格局，共同构成 其他国家远不可及的完备供应链。机器的轰鸣声中，零部件和制成品源源不断地走下产线，变成外 汇。 也是在这 20 年里，中国成本上升、地缘政治风险加剧。2010 年代，欧美开始 "中国加一"（China Plus One）战略，避免只在中国投资，印度、东南亚成为新的目的地；2018 年，美国总统特朗普开启 贸易战，多次对华加征关税；2025 年，特朗普再次上台，在 3 月初将对华加征关税提高至 20%，而 且这次上任后，他的动作更快、变 ...

行情速递 ①主板领涨， 浙大网新（+10.03%）/普天科技（+10.02%）/共达电声（+9.99%）/荣联科技 （+9.98%）/蓝黛科技（+6.95%）/ ②创业板领涨， 每日互动（+17.61%）/星星科技（+11.66%）/佳讯飞鸿（+9.62%）/天和防务 （+6.70%）/宏景科技（+5.21%）/ ③科创板领涨， 安博通（+7.99%）/芯原股份（+7.41%）/蓝特光学（+6.47%）/井松智能 （+6.40%）/青云科技-U（+5.10%）/ ④活跃子行业， SW 通信线缆及配套（+0.75%）/ 国内新闻 ① 新浪科技，华为常务董事、终端BG董事长、智能汽车解决方案BU董事长 余承东发表演讲/他正式公布了此前预热的新形态手机/命名为华为Pura X/ 定位阔折叠/他表示/华为Pura X是首款全面搭载HarmonyOS5的手机/底层 重构更流畅/采用鸿蒙内核、方舟引擎、端云协同/整机性能提升40%/接下 来/鸿蒙生态全面冲刺/主流应用鸿蒙化提供极致体验/暂未鸿蒙化的长尾应用 可通过小程序/元服务获取/ ② 旭光电子，关于召开 2024 年度业绩说明会的公告/会议召开时间为2025 年 0 ...

星标 ★ IPO日报 精彩文章第一时间推送 近年来，通信行业竞争愈发激烈，市场格局不断变化，不少公司面临着业务拓展与转型的压力。 近期，通鼎互联信息股份有限公司（下称"通鼎互联"）发布公告，公司拟通过直接及间接方式合计取得南京和本机电设备科技有限公司（下称"和本机 电"）55%的股权，本次交易总对价约为2.92亿元。据悉，本次交易主要是为了顺应新能源和储能行业高速发展的趋势。切入储能消防领域，拓展业务边 界，探索新型储能的其他细分市场，从而挖掘新的盈利途径。 制图：佘诗婕 01 切入储能消防领域 据悉，通鼎互联在光电通信和网络安全领域深耕多年。公司主营业务以通信线缆、设备及解决方案为核心。 此次收购，通鼎互联欲填补其在储能安全领域的空白，直接切入新型储能产业链关键环节，与现有光伏、储能业务形成协同效应，实现"发电—储能—应 用—安全防护"产业链闭环。 事实上，从行业发展来看，随着全球对清洁能源的需求不断增长，新能源和储能行业迎来了快速发展期。 储能系统作为新能源产业链中的关键环节，其 安全问题日益受到重视，储能消防市场需求也随之扩大。 标的公司和本机电所处新型储能产业链，主要为容量较大的储能项目、工商业储能项 ...