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沃尔核材(002130) - 2025年9月10日及9月11日投资者关系活动记录表
WOERWOER(SZ:002130)2025-09-11 13:36

Financial Performance - The company achieved a revenue of 1.246 billion CNY in the first half of 2025, representing a year-on-year growth of 62.46% [3] - Revenue from high-speed communication cables reached 466 million CNY, showing a remarkable increase of 397.80% [3] Production Capacity Expansion - The company is steadily advancing its production capacity expansion, with five imported foam core extrusion machines already operational and more equipment expected to arrive by the end of the year [3] - By the end of 2025, the company will have over 20 key imported foam core extrusion machines, significantly enhancing high-speed cable production capacity [3] Product Development and Market Position - The company is developing the next-generation 448G high-speed communication cable, following the successful launch of the 224G single-channel cable, which is currently the most advanced product in the market [4] - The high-speed communication cables are characterized by excellent high-frequency performance, high reliability, and low cost, indicating substantial future market demand [4] Inventory and Cost Management - The company employs strategic and bulk purchasing strategies to mitigate the impact of copper price fluctuations, as copper constitutes a smaller proportion of the raw materials for high-speed communication cables [4] - Inventory management is based on a "sales-driven production" principle, optimizing inventory levels through information management to enhance turnover efficiency [5] Client Relationships and Market Strategy - Major clients for high-speed communication cables include international firms like Amphenol and Molex, as well as domestic companies such as Luxshare and QH [6] - The company aims to strengthen relationships with existing clients and explore new opportunities by enhancing R&D capabilities and product iterations [6] Core Business Segments - The electronic materials and power products segments have established a solid technical foundation and product layout, contributing to stable business development [7] - The company’s new energy vehicle products, particularly DC charging guns, are projected to lead the domestic market in revenue by 2024 [8] Competitive Advantages - The company holds several competitive advantages, including technological expertise, advanced manufacturing capabilities, a broad marketing network, and strong brand recognition [9][10] - The company is recognized as a national high-tech enterprise, with a focus on advanced polymer materials and high-performance power transmission products [9] Future Outlook and International Expansion - The company plans to issue H-shares and list on the Hong Kong Stock Exchange to support its international strategy and enhance its brand image [10] - The ongoing efforts to expand financing channels will bolster investments in technology R&D, capacity building, and overseas market development [10]