Group 1: Tonglian Precision - Tonglian Precision anticipates fluctuations in gross margin in Q1 2025 due to seasonal demand variations leading to low capacity utilization, with new investments not effectively diluting costs [1] - The company is increasing R&D investments in new materials, equipment, and processes to promote diversified business development, having gained small-scale production experience in 3D printing [1] - Major clients are concentrated in the consumer electronics sector, including brands like Apple and Amazon, with rapid growth in non-MIM business driven by diversified customer demand and technical breakthroughs [1] - The company expects share-based payment expenses to remain stable compared to 2024, with no new equity incentive plans [1] - Production bases are located in Shenzhen, Huizhou, Changsha, and Vietnam, with the Changsha base gradually commencing production and future expansions based on demand [1] - The company is optimistic about the smart glasses market and has reserved customer resources while laying out MIM and CNC processes [1] Group 2: Copper Crown Copper Foil - Copper Crown Copper Foil has a total copper foil production capacity of 80,000 tons per year, covering PCB copper foil and lithium battery copper foil [2] - The PCB copper foil includes HTE copper foil and high-frequency high-speed copper foil, with high-frequency high-speed copper foil expected to account for 25.33% in 2024, while over 95% of lithium battery copper foil is 6um and below [2] - The company employs a 'copper price + processing fee' pricing model and engages in hedging to mitigate risks, with strategic customers using a 'monthly average price model' [2] - HVLP copper foil features low loss characteristics and is applied in 5G communications, having entered the supply chains of multiple CCL manufacturers with 1-4 generation production capabilities [2] - The company has multiple complete production lines and has purchased surface treatment machines to expand capacity, facing challenges such as precision equipment, long ordering cycles, complex processes, high precision requirements, and stringent customer certification [2] - The HVLP copper foil market is dominated by overseas companies, with imports of 79,000 tons in 2023 and projected imports of 76,000 tons in 2024, prompting the company to accelerate domestic substitution [2]

证券代码：301217 证券简称：铜冠铜箔 安徽铜冠铜箔集团股份有限公司 投资者关系活动记录表 编号：2025-001 | ☑特定对象调研 | □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 ☑电话会议 | | | □其他： （请文字说明其他活动内容） | | 参与单位名称 | 天风证券、国金证券、中金公司、广发证券、华安证券、方正证券、华 福证券、长江证券、西部证券、国盛证券、华创证券、银河证券、惠理 | | 及人员姓名 | 基金、南土资产、易方达基金、融通基金、鸿道投资、复胜资产、汐泰 | | | 投资、胤胜资产、同巨投资、聚鸣投资、近达投资 | | 时间 | 2025年7月7日-7月16日 | | 地点 | 公司会议室、线上会 | | 公司接待人员 | 董秘, 财务负责人：王俊林 | | 姓名 | 证券事务代表：王宁 一、问答环节 | | | 1.公司铜箔整体产能布局情况怎样？ 答：公司现有铜箔产品总产能为 8 万吨/年，对应的产品类别分别 | | 为 | PCB 铜箔和锂电池铜箔。 | ...