HAILIANG(SZ:002203)2025-12-02 08:00Group 1: Copper Foil Product Development - The company has made significant advancements in copper foil technology, including nickel-plated copper foil and ultra-high tensile copper foil, which have received positive feedback from top-tier battery manufacturers [1][2] - The Indonesian factory is the first overseas copper foil plant in China, currently collaborating with 5 out of the top 10 global power battery clients and 2 out of the top 3 3C digital clients, with supply agreements starting in 2026 [2] Group 2: U.S. Market Situation - The Texas base is experiencing steady growth, with processing fees for copper products increasing due to tariff policies, varying by product and customer demand [2] - The company plans to accelerate capacity ramp-up to meet local market demands and focus on high-value product production lines [2] Group 3: Thermal Management Product Layout - Copper is a crucial material in the thermal management sector, with the company leveraging over 30 years of copper processing experience to upgrade technology and ensure stable supply [3] - The demand for copper-based materials is surging due to the explosion of AI and computing power, particularly in data centers, leading to increased business from top thermal management companies [3]