每经AI快讯，有投资者在投资者互动平台提问：公司224G高速通信线的主要客户包括英伟达、安费 诺、豪利士、莫仕、泰科等国际客户，以及立讯、庆虹、华丰等国内客户，难道没有进入华为，阿里， 腾讯等国内优质数据中心企业认证体系吗？ 沃尔核材（002130.SZ）9月22日在投资者互动平台表示，公司的高速通信线主要应用于数据中心、高性 能计算等数据通信领域以及移动网络交换中心、基站站点等高速通信场所，实现高速数据传输；主要直 接客户包括安费诺、豪利士、莫仕、泰科等国际客户，以及立讯、庆虹、华丰等国内连接器企业，供应 给直接客户群体后再配套给国际、国内各大服务器厂商终端使用。 （文章来源：每日经济新闻） ...

Core Viewpoint - The company has developed 224G high-speed communication cables using physical foaming technology and solid material technology, which have passed strict certification from leading global clients and are now being delivered in large quantities [1] Group 1 - The mainstream technical solutions for 224G high-speed communication cables are physical foaming technology and solid material technology [1] - The company's 224G high-speed communication cables have undergone rigorous certification and are currently in mass production [1] - The current products with lotus core structure are primarily used in PCIe series products, but their applicability to higher-speed 224G communication cables and next-generation products remains uncertain [1]

Group 1 - The core technology solutions for the current 224G high-speed communication cables are physical foaming technology and solid material technology [1] - The company has developed 224G high-speed communication cables based on these two technology solutions, which have passed strict certification from leading global customers and are now being delivered in large quantities [1] - The current lotus core structure products are mainly used for PCIe series products, and there is uncertainty regarding their application in higher-speed 224G high-speed communication cables and next-generation products [1] Group 2 - An investor raised a question regarding the potential confusion between the company's products and those of New Asia Electronics, specifically about the supply of high-frequency high-speed cables to Amphenol [3] - The company supplies high-speed communication cables (single-channel 224G) for data center servers, which are distinct from the products offered by New Asia Electronics [3]

Core Viewpoint - The company has successfully developed and delivered 224G high-speed communication cables using two mainstream technical solutions: physical foaming technology and solid material technology, which have passed rigorous certification from leading global clients [1] Group 1: Technology Overview - The mainstream technical solutions for 224G high-speed communication cables are physical foaming technology and solid material technology [1] - Physical foaming involves mixing inert gases like nitrogen under pressure to create uniform, sealed micro-pores, requiring precise equipment and high operational skills [1] - The solid core structure is created using a specially designed extruder mold to form longitudinal through-holes, which can allow moisture to enter and affect dielectric constant stability, leading to signal attenuation [1] Group 2: Product Stability - Physical foaming provides better stability as the inert gas in sealed bubbles is less likely to flow, resulting in minimal deformation during bending and less moisture intrusion [1] - In contrast, the solid core structure can experience significant changes in dielectric constant due to air movement within the holes during bending, affecting transmission speed stability [1] Group 3: Future Developments - The company is currently conducting preliminary research on the next generation of 448G high-speed communication cables [1]

8个行业主力资金净流入。 （原标题：主力资金丨"宁王"获大手笔抢筹超12亿元） 据证券时报·数据宝统计，今日（7月21日）沪深两市主力资金净流出136.41亿元，其中创业板净流出94.3亿元，沪深300成份股净流出13.72亿元。 行业板块方面，申万一级有27个行业上涨，建筑材料行业涨幅居首，达6.06%；建筑装饰和钢铁行业涨幅居前，均超3%。4个下跌行业中，银行行 业跌幅居首，为0.77%；综合、计算机和家用电器行业均微跌。 从资金流向来看，申万一级行业中，8个行业获主力资金净流入。机械设备行业净流入金额居首，为14.22亿元；建筑材料、电力设备、建筑装饰 和汽车行业主力资金净流入均超10亿元。 23个主力资金净流出的行业中，计算机行业净流出金额居首，为76.7亿元，电子和非银金融行业净流出金额均超13亿元。 "宁王"获主力资金大手笔加仓 从个股来看，66股主力资金净流入均超1亿元，其中11股净流入均超3亿元。 宁德时代主力资金净流入12.09亿元，居首，股价上涨3.12%。消息面上，不久前，宁德市生态环境局就 "时代一汽动力电池有限公司时代一汽动 力电池项目（一期技术改造）工程报告表"进行公示，标志着项目 ...

Macro and Strategy - The high-tech manufacturing macro report indicates a slight recovery in the National Securities weekly high-tech manufacturing diffusion index, with Index A at 0.2 and Index B at 50.8, showing improvement from the previous period [3][9] - The macroeconomic report highlights a seasonal increase in high-frequency indicators, with the National Securities high-frequency macro diffusion index A turning positive and index B showing a rebound, indicating improved domestic economic growth momentum [8][10] Industry and Company - The electric power equipment and new energy industry report notes that the Ministry of Industry and Information Technology held a meeting with photovoltaic companies to discuss competition governance and the exit of backward production capacity [20] - The report on the overseas market for the Hong Kong Stock Connect technology ETF (159262) emphasizes the investment value of the technology sector amid the AI innovation wave, predicting significant returns for the next 3-4 years [21][22] - The analysis of the banking industry highlights the operational landscape of 64 asset management companies (AMCs), revealing an overall diluted ROE of 3.4% for the AMC industry, indicating general profitability concerns [31] - The communication industry report mentions the deployment of NVIDIA's GB300 AI systems, reflecting high demand for AI computing infrastructure, with the global server market expected to reach $366 billion, growing by 44.6% year-on-year [32][33]

Investment Rating - The report maintains an "Outperform" rating for the communication industry [5] Core Insights - The global computing infrastructure remains highly prosperous, with a continued positive outlook on computing directions. The global server market is expected to reach $366 billion in 2025, growing by 44.6% year-on-year. The market for GPU-equipped servers is projected to grow by 46.7%, nearly accounting for half of the overall market [12][19][22] - The deployment of NVIDIA's GB300 AI systems has begun, indicating sustained growth in the global AI landscape. CoreWeave and Dell Technologies announced the launch of the first batch of GB300 NVL72 AI systems, which are equipped with advanced GPUs and CPUs to meet increasing AI computing demands [23][24] - China Mobile's procurement of AI servers worth 3.2 billion yuan marks a significant acceleration in AI inference computing infrastructure development, highlighting the urgency for operators to enhance AI application capabilities [35][40] Summary by Sections Industry News Tracking - The global computing infrastructure is expected to maintain high prosperity, with a focus on computing directions. The global server market is projected to reach $366 billion in 2025, with a year-on-year growth of 44.6% [12][19] - The Chinese GenAI IaaS market is anticipated to grow by 165% year-on-year in the second half of 2024, reaching 8.74 billion yuan, marking a significant share in the overall AI IaaS market [16][22] Market Performance Review - The communication index fell by 0.10% this week, while the Shanghai and Shenzhen 300 index rose by 1.54%, resulting in a relative return of -1.64%, ranking 26th among primary industries [3][48] Investment Recommendations - Focus on AI computing infrastructure across various segments, particularly in optical devices and copper connection industries, which are expected to benefit from the global AI development [4][55] - Long-term investment in the three major telecom operators is recommended due to their stable operations and increasing dividend ratios, with a cumulative revenue of 748.8 billion yuan in the first five months of the year, reflecting a 1.4% year-on-year growth [4][55]

Group 1 - The article emphasizes the importance of timely and professional information interpretation in investment decisions, focusing on extracting investment value from significant events and analyzing industry chain companies [1] - The company has secured over 200 million yuan in cumulative orders for nuclear-grade cables, which have been applied in domestic and international nuclear power projects such as Hualong One and Guohe One [1] - The company has completed the development of various robotic cable products, indicating a strong focus on innovation and product diversification [1] Group 2 - The company is actively delivering 4G high-speed communication line products in bulk, showcasing its operational capabilities and market demand [1]

Group 1: Hunan YN Energy - In Q1 2025, Hunan YN Energy's net profit declined year-on-year due to rising raw material prices, despite a significant increase in product sales to 222,600 tons [1] - The company faces external challenges such as US-China tariffs and fluctuations in lithium carbonate prices, but market demand remains strong [1] - New product series CN-5, YN-9, and YN-13 have gained customer recognition, with sales proportion reaching approximately 37% in Q1, and expected to increase throughout the year [1] - The company is advancing its 50,000-ton lithium battery cathode material project in Spain and anticipates mining operations at Huangjiapo Phosphate Mine to commence in the second half of the year [1] - Future plans include deepening the integrated industrial layout of 'resources-precursor-cathode materials-recycling' to reduce costs and enhance quality [1] Group 2: Walden Materials - Walden Materials has adjusted its 2024 annual report to better reflect its strategic positioning and business structure [2] - The growth in operating performance for 2024 and Q1 2025 is attributed to increased R&D efforts, market expansion, and improved automation and production efficiency [2] - The demand for high-speed communication wire continues to grow, with high capacity utilization and stable yield for 224G high-speed communication wire [2] - The automotive communication wire segment is expanding rapidly, with products being delivered in bulk [2] - The company plans to issue H-shares and go public to support its international strategy, enhance brand image, and broaden financing channels [2] Group 3: East China Pharmaceutical - East China Pharmaceutical has set higher goals in its eighth three-year plan, focusing on innovative product launches and team capability enhancement [3] - The company aims to balance resource utilization by improving efficiency and project quality, ensuring maximum R&D efficiency [3] - Optimized payment policies will allow approximately 35% of products to receive payments in the following month, reducing the average turnover period to 45 days [3] - The medical beauty business is expected to grow, driven by new product launches and consumer upgrades [3] - The industrial microbiology sector will continue to implement large-scale cultivation plans, focusing on cost reduction and efficiency improvement [3] - The company is confident in achieving sustainable international cooperation through license-out agreements [3]

Group 1: Business Adjustments - The company has reclassified its business sectors to better reflect its strategic positioning and industry trends, merging the original heat shrink materials and wire industries into the electronic communication sector, and the power and new energy vehicle sectors into the new energy power sector [2][3]. - Product names have been adjusted for clarity, with "electronic products" changed to "electronic materials" and "wire products" to "communication cables," while new energy products have been split into new energy vehicle products and wind power products [3]. Group 2: Financial Performance - The company reported significant growth in its operating performance for 2024 and Q1 2025, driven by increased R&D and market expansion efforts, resulting in revenue growth across electronic materials, communication cables, power products, and new energy vehicle products [4]. - Continuous improvements in automation, production efficiency, and product structure optimization have contributed to enhanced profitability [4]. Group 3: Product and Market Insights - The demand for high-speed communication cables is on the rise, with the company maintaining a high capacity utilization rate and adjusting production resources based on market trends and customer needs [4]. - The 224G high-speed communication cable product has stable yield rates and meets customer demands, with high entry barriers due to complex production processes and stringent quality control requirements [4][5]. Group 4: Strategic Initiatives - The company plans to issue H shares and list them to support its internationalization strategy, enhance its global brand image, and broaden financing channels for ongoing investments in technology R&D, capacity building, and overseas market expansion [5]. - Future investments will focus on addressing existing capacity bottlenecks, with potential acquisitions being evaluated based on strategic alignment, industry trends, and cost considerations [5].