6月17日早间，深圳市沃尔核材股份有限公司（002130.SZ，简称"沃尔核材"）发布公告，公司于2025年6月16日向香港联交所递交了发行境外上市股份 （H股）并在联交所主板挂牌上市的申请，相关申请资料于同日在香港联交所网站刊登。这一举动标志着沃尔核材正式开启赴港上市征程，有望成 为"A+H"股上市公司。 沃尔核材成立于1998年，总部位于广东深圳坪山区，是一家领先的高速数据通信与可替代能源电力传输综合解决方案提供商。其公司不仅是制造及销售高 速数据通信核心元器件——高速铜缆市场的领军企业，也在提供电子材料、电缆和元器件的一站式解决方案方面确立了领先的市场地位，旗下拥有 WOER、LTK等知名品牌。 来 源 | 沃尔核材 高速铜缆： 沃尔核材的高速铜缆产品主要为算力中心提供高效互连解决方案。根据弗若斯特沙利文报告，按2024年全球收入计，沃尔核材是全球第二大 及中国最大的高速铜缆制造商，全球市场份额达24.9%。 热缩材料： 作为高端电子材料（特别是热缩材料）的行业领导者，沃尔核材于2024年按全球收入计在全球热缩材料行业排名第一，市场份额20.6%；按中 国收入计，其市场份额更高达58.5%，稳居中国榜首 ...

6月1日，在甘肃省天水市清水县境内，甘肃至浙江±800千伏特高压直流输电工程顺利跨越宁夏至湖南 ±800千伏特高压直流输电工程。这一关键节点的达成，标志着"陇电入浙"工程建设取得重大进展，为后 续工程的快速推进奠定了坚实基础。(央视新闻) ...

在 2022 年俄乌战争之后，乌克兰国有电力传输系统运营商 Ukrenergo 对 2021 年在前任首席执行官 Volodymyr Kudrytsky 领导下发行的 "绿色债券" 条款进行了重新谈判。这只 5 年期的绿色可持续欧元债 券总价值 8.25 亿美元，收益率为 6.875%。 Ukrenergo 称，已与代表约 40% 债券持有人的临时小组达成协议，为他们提供了两种选择：债券回购或 债券互换。 在回购方案下，Ukrenergo 将借助一家开发金融机构的帮助借入 4.3 亿美元，以折扣价回购部分债券。 债券持有人可以按面值的 65% 左右加上利息将债券卖回给 Ukrenergo。如果想卖的人超过了预算，将按 比例付款。 只有多数债券持有人批准债券条款和国家担保的拟议变更，交易才会进行。没有这个批准，融资和债务 操作都不会进行。Ukrenergo 需要进行债务重组，以便在俄罗斯袭击能源基础设施后，能有更多资金用 于电网重建。俄罗斯军队摧毁或严重破坏了该国所有的热能发电站，还损坏了电力传输网络。 重新谈判 Ukrenergo 的债务是乌克兰整体债务重组的重要里程碑之一。 此前，应于 2028 年 11 ...

Summary of Zhongtian Technology Conference Call Company Overview - Zhongtian Technology is involved in the marine cable and engineering sectors, with significant revenue contributions from both domestic and international markets. The company is focusing on expanding its overseas presence, particularly in Europe. Key Financial Highlights - Total revenue for 2024 is projected at approximately 8 billion yuan, with the marine segment contributing 3.6 billion yuan, marine cable business contributing 2.7-2.8 billion yuan, and marine engineering close to 900 million yuan [2][3] - In Q1 2025, revenue reached 9.755 billion yuan, representing an 18% year-over-year growth, with a net profit close to 600 million yuan, up 20% year-over-year [2][4] - The marine cable business maintains a gross margin of around 40%, while the marine engineering segment is expected to improve from a negative 8% margin in 2024 to 10%-15% in 2025 due to increased project activity [2][3][11] Revenue Breakdown - 80% of revenue is generated domestically, with the remaining 20% from international markets. The company aims to increase its overseas revenue share to 15%-20% [2][3][15][16] - In Q1 2025, the power segment accounted for 40% of profits, followed by the marine segment at 25% and communication at 20% [2][5] Order Backlog and Future Projections - The current order backlog totals 13 billion yuan, with marine engineering accounting for 3 billion yuan and marine cables for 10 billion yuan. The marine cable segment is expected to generate around 6 billion yuan in revenue in 2025 [2][7][8] - The company has set a target for new orders in 2025 to reach 4 billion yuan in the overseas market [9][16] Market Dynamics - The domestic offshore wind power grid connection is expected to reach 12GW in 2025, with potential growth to 12-15GW in the following year, significantly up from 4-5GW in the previous year [24] - The European offshore wind market is projected to grow, with an expected annual increase of 8-10GW starting in 2026, driving demand for marine cables [24] Product and Segment Insights - The company is expanding its product offerings in deep-sea technology, including subsea cables and composite cables, with a focus on observation and sensing systems [26] - In the renewable energy sector, the company reported revenues of approximately 3 billion yuan from self-owned photovoltaic power stations, 10 billion yuan from electronic copper foil, and 20 billion yuan from photovoltaic EPC in 2024 [27] Challenges and Strategic Focus - The marine engineering segment faced challenges due to low offshore wind project initiation rates, but is expected to recover as project activity increases [11][28] - The company is strategically reducing its scale in competitive areas like energy storage and photovoltaic materials while focusing on improving profitability [18][27] Conclusion - Zhongtian Technology is positioned for growth with a strong focus on expanding its international market presence, improving profitability across segments, and capitalizing on the increasing demand for marine cables and renewable energy solutions. The company aims for a 15% revenue growth and a 10% profit increase compared to 2022 levels [30][31]