Core Viewpoint - Hongyuan Co., Ltd. has a solid foundation in the electromagnetic wire sector, showcasing strong innovation capabilities and a promising development outlook, while focusing on the power industry and expanding into the new energy vehicle sector [1][10]. Group 1: Company Overview - Hongyuan Co., Ltd. has been deeply engaged in the ultra-high voltage transmission and transformation field for decades, achieving significant results in the electromagnetic wire niche market [3]. - The company specializes in the research and manufacturing of high-voltage, large-capacity transformer electromagnetic wire products, aligning with international standards and advanced technologies [5]. - The company’s products are marketed globally, supported by China's leading and efficient ultra-high voltage transmission network, which has established a robust industrial chain for green power transmission [5][6]. Group 2: Competitive Advantages - Hongyuan Co., Ltd. benefits from a mature industrial chain and strong technical accumulation in Shenyang, which enhances its cost control capabilities and operational efficiency [6]. - The company’s electromagnetic wire products are crucial for high-voltage transformers, meeting the increasing technical requirements for performance and reliability in ultra-high voltage projects [7]. - The company has established a dual market structure, covering all major domestic ultra-high voltage equipment manufacturers and expanding into overseas markets in the Middle East, North America, and Southeast Asia [6]. Group 3: Innovation and R&D - The company has made significant advancements in ultra/high voltage applications, participating in leading projects such as the Changji-Guquan ±1100kV ultra-high voltage direct current transmission project [7]. - Hongyuan Co., Ltd. emphasizes a systematic approach to innovation, focusing on high-value products and establishing a stable R&D team and innovation system [8]. - The company has accumulated 80 patents and contributed to multiple national and industry standards, reinforcing its foundation for innovative development [8]. Group 4: Capital Market and Growth Strategy - Hongyuan Co., Ltd. became the first company listed on the Beijing Stock Exchange from Shenyang, marking a new phase in its development [10]. - The company aims to leverage capital market support to strengthen its core business, expand its scale, and enhance its industrial chain layout [11]. - The company is actively entering the new energy vehicle sector, focusing on the production of specialized electromagnetic wires for high-efficiency electric motors, which aligns with the industry's shift towards higher voltage and efficiency [12].

Core Viewpoint - The company, Hongyuan Co., has established a strong position in the electromagnetic wire sector, focusing on high-voltage and large-capacity transformer wire products, and is committed to innovation and market expansion in both traditional and new energy sectors [1][2][3]. Group 1: Company Overview - Hongyuan Co. has been deeply engaged in the ultra-high voltage transmission and transformation sector for decades, achieving significant results in the electromagnetic wire niche market [2]. - The company has developed various advanced electromagnetic wire products, including ladder-shaped combination wires and high-temperature self-adhesive wires, which meet the technical requirements of China's high-voltage transformer upgrades [2][3]. - The company benefits from a robust industrial chain in Shenyang, which enhances its cost control and supply chain efficiency [3]. Group 2: Market Position and Strategy - The company’s products are utilized globally, covering all major domestic ultra-high voltage equipment manufacturers and expanding into overseas markets in the Middle East, North America, and Southeast Asia [3]. - The global demand for electricity is increasing, driving the growth of the electromagnetic wire industry, which presents opportunities for the company to optimize its product structure and enhance market competitiveness [4]. Group 3: Innovation and R&D - Hongyuan Co. has made significant advancements in ultra/high voltage applications, participating in leading projects such as the ±1100kV ultra-high voltage direct current transmission project [4][5]. - The company emphasizes a systematic approach to innovation, focusing on high-value products and establishing a research and development center to tackle performance challenges under extreme conditions [5][6]. - As of the end of 2024, the company holds 80 patents and has contributed to the formulation of national and industry standards, reinforcing its competitive edge [6]. Group 4: Capital Market and Future Growth - In August, Hongyuan Co. became the first company from Shenyang to be listed on the Beijing Stock Exchange, marking a new phase in its development [7]. - The company plans to leverage its public listing to strengthen its core business, expand its scale, and enhance its industrial chain layout, particularly in the new energy vehicle sector [7][8]. - The company is developing a production base for special electromagnetic wires for high-efficiency electric motors in new energy vehicles, aligning with industry trends towards higher voltage and efficiency [8][9].

宏远股份位于沈阳经济技术开发区，成立几十年来一直深耕特高压输变电领域，在电磁线细分市场成果 丰硕，行业地位突出。 "我们始终专注于高电压、大容量变压器用电磁线产品的研发制造，对标国际标准和国内外前沿技术， 研发了包括阶梯状组合换位导线、内屏蔽组合换位导线、多根数换位导线、光纤系列绕组线、耐高温自 粘漆包换位导线等在内的诸多电磁线产品。"杨绪清说，"这些代表性产品有效满足了我国高电压、大容 量变压器升级改造的技术要求和市场需求。" 在他看来，宏远股份能取得今天的成绩，关键在于紧跟产业升级和行业进步的方向与趋势，心无旁骛地 钻研电磁线细分领域并持续推动创新研发。 ● 本报记者 宋维东 日前，中国证券报联合北交所开展的2025北交所万里行调研活动走进宏远股份。宏远股份董事长杨绪清 在接受中国证券报记者专访时表示，公司深耕电磁线领域多年，产业基础牢固，创新能力突出，发展前 景广阔，市场地位不断提升。面对行业发展新趋势，公司将不忘初心，紧紧围绕电力行业深耕细作，不 偏离发展轨道，稳扎稳打，做精做透电磁线主业，在不断增强特高压输变电领域竞争优势的同时，全面 布局新能源汽车领域，培育新的效益增长点，打造更具竞争力的产业结构 ...

在电磁线行业的广袤版图中，沈阳宏远电磁线股份有限公司宛如一颗冉冉升起的新星，正以其卓越的技 术实力、优质的产品和强大的市场竞争力，吸引着众多目光。如今，宏远股份踏上 IPO 征程，这一重 要举措不仅将为公司发展注入磅礴动力，更有望在行业内掀起新的变革浪潮。 自成立以来，宏远股份便专注于电磁线的研发、生产与销售，经过多年的深耕细作，已然成长为高压、 超高压、特高压变压器用电磁线产品的成熟制造商。公司产品种类丰富，涵盖换位导线、纸包线、漆包 线、漆包纸包线、组合导线等多个品类，广泛应用于高电压、大容量电力变压器、换流变压器和电抗器 等大型输变电设备，在我国超 / 特高压输电工程中发挥着关键作用，为产业发展贡献卓著。 技术创新是宏远股份发展的核心驱动力。公司构建了全面的研发体系，从基础研究到工艺开发，再到应 用测试，每一个环节都精益求精。研发团队针对高电压、高温、高频等极端工况，不断优化电磁线性 能。比如在超薄换位导线研发中，通过改良导体结构设计与绝缘层材料配比，突破传统工艺限制，使产 品综合性能达到国际领先水平;针对新能源车电机高功率密度需求，创新开发的耐电晕漆包铜扁线，显 著提升局部放电起始电压，成为 800V ...