长江商报消息●长江商报记者 徐阳 国内热缩材料行业龙头沃尔核材（002130.SZ）积极提升市场竞争力。 9月23日晚间，沃尔核材公告，控股子公司拟投资不超过10亿元建设科特（苏州）新材料项目，提升重点产品产能 规模。 长江商报记者注意到，沃尔核材以"电子通信+新能源电力"为主业发展方向。近年来，公司通过自研+并购的方 式，积极进行产业布局，不断拓宽业务规模和提升盈利能力。 2019年至2025年上半年，六年半时间，沃尔核材的归母净利润持续增长。其中，2025年上半年，公司的业绩创同 期新高。 拟投不超10亿扩产 沃尔核材稳步推进产能扩张。 根据公告，沃尔核材控股子公司上海科特新材料股份有限公司（以下简称"上海科特"）拟在江苏省吴江经济技术 开发区内投资建设科特（苏州）新材料项目，建成动力电池热失控防护制品、耐火材料制品及电子元器件等高性 能产品的研发、生产与销售基地。 科特（苏州）新材料项目投资规模不超过10亿元，本次项目投资资金来源为上海科特自筹资金。项目投资资金分 别用于基建（包含土地竞拍价款）、设备和流动资金这三个方面，对应金额分别约3.6亿元、2.4亿元和4亿元。 作为项目实施主体，上海科特为新三板 ...

Core Viewpoint - The leading company in the heat shrink materials industry, Wolong Nuclear Materials (002130.SZ), is expected to see a steady increase in profitability, with projected net profits for the first half of 2025 estimated between 5.45 billion to 5.87 billion yuan, representing a year-on-year growth of 30% to 40% [1][2]. Financial Performance - Wolong Nuclear Materials anticipates a net profit of approximately 5.45 billion to 5.87 billion yuan for the first half of 2025, with a non-recurring net profit expected to be around 5.11 billion to 5.5 billion yuan, both reflecting a year-on-year increase of 30% to 40% [2]. - In Q1 2025, the company reported a net profit of 2.5 billion yuan, a year-on-year increase of 35.86%, while the non-recurring net profit was 2.41 billion yuan, up 39.48% [2]. - For Q2 2025, the projected net profit is estimated to be between 2.95 billion to 3.37 billion yuan, indicating a growth of 25.53% to 43.4% year-on-year [2]. Business Segments - The company’s main business segments include electronic materials, communication cables, electricity, new energy vehicles, and wind power generation, with all segments experiencing varying degrees of revenue growth due to increased market demand [2][3]. - The communication cable and new energy vehicle segments have shown particularly rapid growth, driven by the surge in demand from downstream industries such as data communication and supportive industrial policies [2]. Strategic Acquisitions - The year 2019 marked a significant milestone for the company with the acquisition of 75% of Changyuan Electronics, which has since contributed to a net profit increase of over 40 times compared to pre-acquisition levels [1][3]. - The company is in the process of acquiring the remaining 25% of Changyuan Electronics, further consolidating its control over the business [3]. Research and Development - Wolong Nuclear Materials has invested a total of 9.65 billion yuan in R&D over the past three years, resulting in over 2,000 effective patents, including more than 500 invention patents [4][6]. - The company emphasizes technological advantages as a core competitive strength, continuously innovating to meet market demands and lead industry advancements [4][6]. Financial Health - The company has maintained a stable financial structure, with an asset-liability ratio around 40% from 2022 to 2024, indicating a solid financial position compared to industry averages [6]. - Financial expenses have decreased significantly over the past four years, with Q1 2025 expenses reported at 643 million yuan, a 30.25% reduction year-on-year [6].

Core Viewpoint - Shenzhen Woer Power Cable Co., Ltd. has submitted an application for H-share listing on the Hong Kong Stock Exchange, marking the beginning of its journey to become an "A+H" listed company [1] Company Overview - Established in 1998, Woer Power Cable is headquartered in Shenzhen, Guangdong, and is a leading provider of integrated solutions for high-speed data communication and alternative energy power transmission [3] - The company is a market leader in manufacturing and selling high-speed copper cables and has established a strong market position in providing one-stop solutions for electronic materials, cables, and components, with well-known brands such as WOER and LTK [3] Product Leadership - High-speed copper cables: Woer Power Cable is the second largest globally and the largest in China in high-speed copper cable manufacturing, with a global market share of 24.9% as of 2024 [5] - Heat shrink materials: The company ranks first in the global heat shrink materials industry by revenue, holding a market share of 20.6%, and a higher market share of 58.5% in China [5] - New energy vehicle power transmission: Woer Power Cable is the largest manufacturer of DC charging guns for new energy vehicles in China, with a market share of 41.7% as of 2024 [6] - Power transmission for power grids and power stations: The company ranks first among cable accessory manufacturers in China, with a market share of 10.6% as of 2024 [6] Financial Performance - The company's revenue for 2022, 2023, and 2024 was RMB 5.337 billion, RMB 5.719 billion, and RMB 6.920 billion, respectively, with corresponding net profits of RMB 660 million, RMB 758 million, and RMB 921 million, indicating a consistent growth in profitability [6]