长江商报消息●长江商报记者 张璐 曾两度筹备A股创业板上市的江西铜博科技股份有限公司（下称"铜博科技"）转战港股，1月28日正式 递交港交所上市申请。 长江商报记者注意到，这家2016年成立、主营高性能电解铜箔的企业，此番赴港IPO之路暗藏多重经营 与财务风险，业绩增长背后的隐忧已逐步显现。 招股书显示，铜博科技业务高度依赖锂电铜箔，客户也高度集中。2023年—2025年前三季度（下称"报 告期"），公司营收稳步增长，但盈利端波动。2025年前三季度公司毛利率仅4.8%。 铜博科技流动性紧绷，资产负债率从2023年的115.7%攀升至2025年前三季度的172.7%。公司造血能力 承压，经营活动现金流自2024年起由正转负，2024年及2025年前三季度合计净流出达10.64亿元，期末 贸易应收款项达15.01亿元。 经营及财务的双重压力，让铜博科技的港股闯关之路充满了不确定性。 超八成营收依赖锂电铜箔 资料显示，铜博科技成立于2016年，专注于高性能电解铜箔的设计、研发、生产和销售。李衔洋、李思 洋兄弟二人及珠海鑫岩（由李思洋控制的有限合伙企业）共同有权行使该公司已发行股本总额约71.1% 的投票权，并被视 ...

据港交所1月28日消息显示， 江西铜博科技股份有限公司（以下简称：铜博科技）向港交所主板递交上市申请书，国金证券（香港）为其独 家保荐人。 资料显示，铜博科技是一家电解铜箔解决方案提供商，专注于高性能电解铜箔的设计、研发、生产和销售。 在此之前，铜博科技曾筹备在A股上市。2021年及2023年，公司与海通证券订立合作框架协议及辅导协议。2023年2月，其向江西证监局提 交首次辅导备案。2023年8月，铜博科技因A股上市计划相关工作安排变更与海通证券终止辅导协议。 此后，铜博科技与国金证券订立辅导协议，并向江西证监局提交第二次初步辅导备案。直至 2024年5月，公司与国金证券自愿终止辅导协 议。 据最新招股书披露，业绩方面， 2023年-2025年前三季度，铜博科技分别实现收入约31.63亿元、32.12亿元、28.49亿元，溢利及全面收 益总额分别为6305.7万元、2058万元、4171.1万元。 客户方面， 铜博科技来自五大客户的收入分别占 2023年-2025年前三季度 总收入的 85.8%、87.3% 及 82.0%；同期，来自最大客户客 户 A 的收入分别占同期总收入的 48.5%、62.2% 及 ...

据港交所1月28日披露，江西铜博科技股份有限公司(简称：铜博科技)向港交所主板递交上市申请书，国 金证券(香港)为其独家保荐人。招股书显示，铜博科技是一家电解铜箔解决方案提供商，专注于高性能 电解铜箔的设计、研发、生产和销售。根据弗若斯特沙利文的资料，2024年按销量计，公司是中国第九 大电解铜箔生产商，市场份额约为4.0%。按2024年销售量计算，公司亦是中国高性能锂电铜箔第二大生 产商，市场份额为13.0%。 Jiangxi Tongbo Technology Co., Ltd. [編纂] 獨家保薦人·「編纂」·「編纂】· 「編纂]及「編纂】 国会譜券(香港)有限公司 SINOLINK SECURITIES (HK) CO. LTD. [编纂]項下的[編纂]數目 : [編纂]股H股(視乎[編纂]行使與否 而定) [編纂]數目 [編纂]股H股(可予[编纂]) : [編纂]股H股(可予[編纂]及視乎 [編纂]數目 : [編纂]行使與否而定) 每股H股[編纂]港元,另加1.0% 最高[編纂] : 經紀佣金、0.0027%證監會交易 徵費 · 0.00565%聯交所交易費及 0.00015%會財局交易徵費 (須於 ...

Group 1 - Jiangxi Tongbo Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Guotai Junan Securities (Hong Kong) as its sole sponsor [1] - The company specializes in the design, research and development, production, and sales of high-performance electrolytic copper foil [1] - According to Frost & Sullivan, Jiangxi Tongbo is the ninth largest electrolytic copper foil producer in China by sales volume, holding a market share of approximately 4.0% in 2024 [1] - The company is also the second largest producer of high-performance lithium battery copper foil in China, with a market share of 13.0% based on sales volume in 2024 [1]

Group 1 - The core viewpoint of the news is that 嘉元科技 (Jia Yuan Technology) experienced a stock price increase of 5.4%, reaching 44.10 yuan per share, with a trading volume of 493 million yuan and a turnover rate of 2.69%, resulting in a total market capitalization of 18.798 billion yuan [1] - 嘉元科技 is located in Meizhou, Guangdong Province, and was established on September 29, 2001. It was listed on July 22, 2019. The company's main business involves the research, production, and sales of various high-performance electrolytic copper foils [1] - The revenue composition of 嘉元科技 is as follows: lithium battery copper foil accounts for 83.77%, other income 12.64%, and standard copper foil 3.58% [1] Group 2 - From the perspective of fund holdings, 东兴基金 (Dongxing Fund) has one fund heavily invested in 嘉元科技. The 东兴数字经济混合发起A (Dongxing Digital Economy Mixed Fund A) held 71,400 shares in the third quarter, representing 5.22% of the fund's net value, ranking as the tenth largest holding [2] - The 东兴数字经济混合发起A fund was established on January 16, 2024, with a latest scale of 28.2888 million yuan. Year-to-date return is 0.64%, ranking 7764 out of 8844 in its category; the one-year return is 47.64%, ranking 2052 out of 8091; and since inception, the return is 66.12% [2] - The fund manager of 东兴数字经济混合发起A is 周昊 (Zhou Hao), who has been in the position for 2 years and 7 days, with total assets under management of 51.35 million yuan. The best fund return during his tenure is 69.25%, while the worst is 68.91% [2]

Core Viewpoint - The company has terminated its acquisition of Luxembourg-based Circuit Foil due to additional restrictions imposed by the Luxembourg Ministry of Economy and is shifting its focus back to the domestic market by planning to acquire a controlling stake in Anhui Huiru Technology [2][3]. Group 1: Acquisition Details - The acquisition of Luxembourg Copper Foil was initially valued at €2.15 billion, with the adjusted purchase price set at €1.74 billion [2]. - The company aims to acquire at least 51% of Anhui Huiru Technology through cash purchase and capital increase to address its near-saturated production capacity [2][4]. - Anhui Huiru Technology has an annual production capacity of 20,000 tons of electrolytic copper foil, which will enhance the company's production capabilities post-acquisition [4]. Group 2: Company Background and Market Position - The company specializes in the research, production, and sales of various high-performance electrolytic copper foils, primarily used in lithium batteries and printed circuit boards [2]. - The company was previously recognized as a leader in the domestic electrolytic copper foil industry and aimed to develop high-end IT copper foil products as part of its long-term strategy [3]. - The Luxembourg Copper Foil was noted as a global leader in high-end IT copper foil, being the only non-Japanese company with core technology and mass production capabilities in this sector [3]. Group 3: Financial Implications - The company had launched a fundraising plan in September of the previous year, aiming to raise up to ¥19.3 billion for the acquisition of Luxembourg Copper Foil and other projects [4]. - Following the termination of the Luxembourg acquisition, the company has not disclosed any adjustments to its fundraising plan [4].

Core Viewpoint - Defu Technology has terminated its overseas acquisition due to regulatory restrictions and is now planning to acquire a domestic competitor to expand its production capacity [2][3][4][5][6][7] Group 1: Termination of Overseas Acquisition - Defu Technology signed a share purchase agreement with Volta Energy Solutions S.à.r.l. to acquire 100% of Circuit Foil Luxembourg for €17.4047 million, which was 10% of the purchase price as a contract deposit [3] - The Luxembourg Ministry of Economy conditionally approved the acquisition but imposed several restrictions, including limited voting rights and constraints on governance and intellectual property [3][4] - Due to these restrictions, Defu Technology confirmed the termination of the transaction, and the full deposit will be refunded [4] Group 2: Domestic Acquisition Plan - Simultaneously, Defu Technology announced a plan to acquire at least 51% of Anhui Huiru Technology Co., Ltd. through cash purchase and capital increase, making it a subsidiary [5][6] - Huiru Technology, established in November 2021, has a registered capital of ¥224.38 million and an annual production capacity of 20,000 tons, focusing on high-performance electrolytic copper foil [5] - The acquisition is part of a strategic move to consolidate industry production lines and expand capacity to meet growing market demand [6][7] Group 3: Strategic Focus - The announcements reflect Defu Technology's focus on core business and flexible adjustment of acquisition strategies, aiming to strengthen its business layout through domestic mergers [7] - The company plans to leverage its scale, supply chain, and technological advantages to enhance business scale and profitability following the acquisition [6][7]

1月12日，德福科技跌10.68%，截至发稿，报31.70元/股，成交1.50亿元，换手率1.27%，总市值199.81 亿元。 资料显示，九江德福科技股份有限公司位于江西省九江市开发区汽车工业园顺意路15号，成立日期1985 年9月14日，上市日期2023年8月17日，公司主营业务涉及各类高性能电解铜箔的研发、生产和销售。主 营业务收入构成为：锂电铜箔77.53%，电子电路铜箔14.80%，其他(补充)7.66%。 从德福科技十大流通股东角度 数据显示，南方基金旗下1只基金位居德福科技十大流通股东。南方中证1000ETF（512100）三季度新 进十大流通股东，持有股数288.43万股，占流通股的比例为0.77%。根据测算，今日浮亏损失约1093.15 万元。 南方中证1000ETF（512100）基金经理为崔蕾。 截至发稿，崔蕾累计任职时间7年68天，现任基金资产总规模1227.6亿元，任职期间最佳基金回报 234.52%， 任职期间最差基金回报-15.93%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表 ...

转自：智通财经 值得注意的是，公司去年9月推出定增计划，募集资金不超过19.3亿元，将用于收购卢森堡铜箔100%股 权、铜箔添加剂用电子化学品项目及补充流动资金等。 目前，公司尚未披露终止收购卢森堡铜箔后的定增方案调整计划。不过，在终止海外收购的同时，德福 科技迅速转向国内市场，拟收购慧儒科技控股权。 德福科技主要从事各类高性能电解铜箔的研发、生产和销售，产品主要用于各类锂电池和覆铜板、印制 电路板的下游制造。2025年7月29日，公司宣布与交易对方签署了《股权购买协议》，拟收购卢森堡铜 箔100%股权。 公告显示，卢森堡铜箔100%企业价值为2.15亿欧元，扣除双方约定的调整项目后，该公司100%股权收 购价格为1.74亿欧元。卢森堡铜箔为全球高端IT铜箔龙头企业之一，也是全球自主掌握高端IT铜箔核心 技术与量产能力的唯一非日系龙头厂商，市场份额领先。 卢森堡铜箔的总部和主要生产基地位于卢森堡，当前铜箔产能1.68万吨/年，同时在中国张家港、加拿 大设有分切中心，在中国香港、韩国、美国设有销售中心。2024年，该公司净利润为-37万欧元；2025 年一季度，随着HVLP3/4/5等高阶产品加速放量等，该公司 ...

Core Viewpoint - The stock of Jia Yuan Technology has experienced fluctuations, with a recent decline of 2.20%, while the company shows significant growth in revenue and profit year-on-year [1][2]. Group 1: Stock Performance - As of January 9, Jia Yuan Technology's stock price is 41.86 yuan per share, with a market capitalization of 17.843 billion yuan [1]. - The stock has increased by 2.15% year-to-date, with a 9.30% rise over the past 20 days and a 9.87% increase over the past 60 days [1]. - The net outflow of main funds was 15.3691 million yuan, with large orders showing a buy of 54.6052 million yuan and a sell of 53.2612 million yuan [1]. Group 2: Company Overview - Jia Yuan Technology, established on September 29, 2001, specializes in the research, production, and sales of high-performance electrolytic copper foil [1]. - The company's revenue composition includes lithium battery copper foil (83.77%), other income (12.64%), and standard copper foil (3.58%) [1]. - The company is categorized under the power equipment industry, specifically in the battery and lithium battery sectors, and is associated with concepts such as copper foil, PCB, new energy vehicles, and BYD [1]. Group 3: Financial Performance - For the period from January to September 2025, Jia Yuan Technology achieved a revenue of 6.540 billion yuan, representing a year-on-year growth of 50.71% [2]. - The net profit attributable to the parent company for the same period was 40.876 million yuan, marking a year-on-year increase of 128.39% [2]. - The company has distributed a total of 496 million yuan in dividends since its A-share listing, with 174 million yuan distributed over the past three years [2]. Group 4: Shareholder Information - As of September 30, 2025, the number of shareholders for Jia Yuan Technology is 22,000, an increase of 22.90% from the previous period [2]. - The average number of circulating shares per person is 19,383, which has decreased by 18.63% compared to the previous period [2]. - Hong Kong Central Clearing Limited is the ninth largest circulating shareholder, holding 3.4173 million shares, a decrease of 6.5918 million shares from the previous period [2].