| 证券代码：688388 | 证券简称：嘉元科技 | 公告编号：2026-010 | | --- | --- | --- | | 转债代码：118000 | 转债简称：嘉元转债 | | 广东嘉元科技股份有限公司 2025 年度业绩快报公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 本公告所载2025年度主要财务数据为初步核算数据，未经会计师事务所审计， 具体数据以广东嘉元科技股份有限公司（以下简称"公司"）2025年年度的定期 报告为准，提请投资者注意投资风险。 一、2025年度主要财务数据和指标 单位：人民币万元 | 项目 | 本报告期 | 上年同期 | 增减变动幅度 | | --- | --- | --- | --- | | 营业总收入 | 964,572.74 | 652,226.90 | 47.89% | | 营业利润 | 8,440.23 | -28,069.72 | 不适用 | | 利润总额 | 8,656.61 | -28,378.41 | 不适用 | | 归属于母公司所有 者的净利润 | 5,912 ...

格隆汇2月25日丨嘉元科技(688388.SH)公布2025年度业绩快报，报告期内，公司实现营业收入 964,572.74万元，同比增长47.89%；实现利润总额8,656.61万元，同比增加37,035.03万元；实现归属于 母公司所有者的净利润5,912.49万元，同比增加29,795.60万元；实现归属于母公司所有者的扣除非经常 性损益的净利润1,128.23万元，同比增加29,547.72万元。 2025年，公司紧密围绕年度发展战略和经营目标，深耕铜箔主业，开展质量提升、研发创新、降本增效 等工作，使得公司经营业绩实现了扭亏为盈。 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 重要内容提示： ● 公司于2026年2月24日召开第五届董事会第六十二次会议，审议通过《关于提前赎回"嘉元转债"的议 案》，公司董事会决定行使提前赎回权利，按照债券面值加当期应计利息的价格对赎回登记日登记在册 的"嘉元转债"全部赎回。 ● 投资者所持"嘉元转债"除在规定时限内通过二级市场继续交易或按照33.18元/股的转股价格进行转股 外，仅能选择以100元/张的票面价格加当期应计利息被强制赎回。若被强制赎回，可能面临较大投资损 失。 一、可转债上市发行概况 经中国证券监督管理委员会证监许可〔2021〕180号文同意注册，公司于2021年2月23日向不特定对象发 行了1,240万张可转换公司债券，每张面值100元，发行总额124,000.00万元。本次发行的可转换公司债 券的期限为自发行之日起六年，即自2021年2月23日至2027年2月22日。 经上海证券交易所（以下简称"上交所"）自律监管决定书〔2021〕103号文同意，公司124,000.00万元可 转换公司债券于20 ...

证券代码：688388 证券简称：嘉元科技 公告编号：2026-009 广东嘉元科技股份有限公司 关于提前赎回"嘉元转债"的提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 重要内容提示： ● 广东嘉元科技股份有限公司（以下简称"公司"）股票自2026年1月12日至2026年2月24日期间已有15个 交易日的收盘价不低于"嘉元转债"当期转股价格（即33.18元/股）的130%（即43.14元/股），公司股票 已满足连续三十个交易日中至少有十五个交易日的收盘价不低于当期转股价格的130%（含130%），已 触发《广东嘉元科技股份有限公司向不特定对象发行可转换公司债券募集说明书》（以下简称"《募集 说明书》"）中规定的有条件赎回条款。 ● 公司于2026年2月24日召开第五届董事会第六十二次会议，审议通过《关于提前赎回"嘉元转债"的议 案》，公司董事会决定行使提前赎回权利，按照债券面值加当期应计利息的价格对赎回登记日登记在册 的"嘉元转债"全部赎回。 ● 投资者所持"嘉元转债"除在规定时限内通过二级市场继续交易或按照 ...

（文章来源：证券日报） 证券日报网讯 2月24日，嘉元科技发布公告称，公司股票自2026年1月12日至2026年2月24日期间已有15 个交易日的收盘价不低于"嘉元转债"当期转股价格（即33.18元/股）的130%（即43.14元/股），公司股 票已满足连续三十个交易日中至少有十五个交易日的收盘价不低于当期转股价格的130%（含130%）， 已触发《广东嘉元科技股份有限公司向不特定对象发行可转换公司债券募集说明书》中规定的有条件赎 回条款。公司于2026年2月24日召开第五届董事会第六十二次会议，审议通过《关于提前赎回"嘉元转 债"的议案》，公司董事会决定行使提前赎回权利，按照债券面值加当期应计利息的价格对赎回登记日 登记在册的"嘉元转债"全部赎回。投资者所持"嘉元转债"除在规定时限内通过二级市场继续交易或按照 33.18元/股的转股价格进行转股外，仅能选择以100元/张的票面价格加当期应计利息被强制赎回。若被 强制赎回，可能面临较大投资损失。 ...

| | | 广东嘉元科技股份有限公司 关于提前赎回"嘉元转债"的提示性公告 经上海证券交易所（以下简称"上交所"）自律监管决定书〔2021〕103 号 文同意，公司 124,000.00 万元可转换公司债券于 2021 年 3 月 15 日起在上交所 挂牌交易，债券简称"嘉元转债"，债券代码"118000"。 根据《募集说明书》的约定，公司向不特定对象发行的可转换公司债券"嘉 元转债"自 2021 年 9 月 1 日起可转换为公司股份，转股期间为 2021 年 9 月 1 日至 2027 年 2 月 22 日，初始转股价格为 78.99 元/股。"嘉元转债"历次转股 价格调整情况如下： 1、因公司实施 2020 年度权益分派方案，自 2021 年 5 月 6 日起转股价格调 整为 78.74 元/股，具体内容详见公司于 2021 年 4 月 27 日在上交所网站 (www.sse.com.cn)披露的《广东嘉元科技股份有限公司关于 2020 年年度权益分 派调整可转债转股价格的公告》（公告编号：2021-046）。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的 ...

公司于2026年2月24日召开第五届董事会第六十二次会议，审议通过《关于提前赎回"嘉元转债"的议 案》，公司董事会决定行使提前赎回权利，按照债券面值加当期应计利息的价格对赎回登记日登记在册 的"嘉元转债"全部赎回。 投资者所持"嘉元转债"除在规定时限内通过二级市场继续交易或按照33.18元/股的转股价格进行转股 外，仅能选择以100元/张的票面价格加当期应计利息被强制赎回。若被强制赎回，可能面临较大投资损 失。 格隆汇2月24日丨嘉元科技(688388.SH)公布，公司股票自2026年1月12日至2026年2月24日期间已有15个 交易日的收盘价不低于"嘉元转债"当期转股价格(即33.18元/股)的130%(即43.14元/股)，公司股票已满足 连续三十个交易日中至少有十五个交易日的收盘价不低于当期转股价格的130%(含130%)，已触发《广 东嘉元科技股份有限公司向不特定对象发行可转换公司债券募集说明书》中规定的有条件赎回条款。 ...

Core Viewpoint - The high-frequency and high-speed copper-clad laminate market is experiencing robust growth driven by the large-scale construction of 5G base stations, rapid bandwidth demand in data centers, and the proliferation of electric vehicles and intelligent driving technologies. The market is projected to grow from 4.8 billion yuan in 2016 to 37.06 billion yuan by 2025, with a compound annual growth rate (CAGR) of 25% [1][7]. Industry Overview - High-frequency and high-speed copper-clad laminates are essential materials for the electronic information industry, primarily used in 5G communication devices, high-speed data centers, automotive electronics, satellite communications, and artificial intelligence hardware [1][6]. - These laminates exhibit significant advantages over traditional copper-clad laminates in terms of dielectric constant, dielectric loss, and signal transmission speed, making them suitable for high-frequency and high-speed signal transmission [1][6]. Market Size and Growth - The market size of China's high-frequency and high-speed copper-clad laminate industry is expected to grow from 4.8 billion yuan in 2016 to 37.06 billion yuan by 2025, reflecting a CAGR of 25% [1][7]. - By 2025, the demand for high-frequency and high-speed copper-clad laminates is projected to reach 13,168.8 million square meters, a year-on-year increase of 28% [5][6]. Industry Development History - The development of China's high-frequency and high-speed copper-clad laminate industry can be divided into several stages: initial stage, technology introduction and development, independent innovation and growth, vigorous industry development, and technological upgrades with international competition [3]. Industry Supply Chain - The supply chain for high-frequency and high-speed copper-clad laminates includes upstream raw materials such as copper foil, glass fiber cloth, resin materials, fillers, and processing equipment. The midstream involves the production and manufacturing of the laminates, while the downstream applications span communication equipment, consumer electronics, automotive electronics, and more [4]. Competitive Landscape - The industry has a clear tiered competitive structure, with the first tier dominated by Taiwanese, Japanese, and Korean companies, including well-known firms like Taiyo Yuden and Nanya Technology. The second tier consists of leading domestic manufacturers such as Shengyi Technology and Jin'an Guoji, while the third tier comprises smaller companies competing in niche markets [8]. Key Companies - Shengyi Technology Co., Ltd. is a major player in the industry, focusing on high-quality copper-clad laminates and achieving a global market share of 13.7% by 2024. The company emphasizes innovation and has filed numerous patents to enhance its competitive edge [8]. - Nanya New Material Technology Co., Ltd. specializes in copper-clad laminates and has reported a revenue increase of 41.83% in the first half of 2025, highlighting its strong market position [9][10]. Industry Trends - The industry is expected to focus on low-loss materials with low dielectric loss (Df) and low dielectric constant (Dk) through innovative resin systems and advanced manufacturing techniques [11]. - There is a trend towards higher integration in electronic products, with developments in high-density interconnect (HDI) and system-in-package (SiP) technologies to meet the demands for compact and multifunctional devices [12]. - The industry is also moving towards sustainable practices, promoting the use of green materials and clean production processes to reduce environmental impact [12].

Core Viewpoint - The lithium battery copper foil industry is crucial for lithium-ion battery performance, accounting for approximately 5%-10% of total battery costs, with a tightly linked supply chain in China that influences costs, supply, and demand [1][5][6]. Group 1: Industry Overview - Lithium battery copper foil is a core material for the negative electrode current collector in lithium-ion batteries, impacting energy density, cycle life, and safety [2][7]. - The global lithium-ion battery shipment volume is projected to reach 2,280.5 GWh by 2025, with expectations to exceed 3,016 GWh in 2026, driven by the growth of the electric vehicle market [1][6]. - China's lithium battery industry is leading globally, with a projected 2025 shipment volume of 1,888.6 GWh, accounting for 82.8% of global shipments [8]. Group 2: Market Dynamics - The copper foil industry is experiencing rapid growth, with domestic shipments expected to reach 940,000 tons in 2025, a year-on-year increase of over 36% [8][9]. - The market is shifting towards ultra-thin copper foil products, with 5μm and below gaining significant traction due to their advantages in energy density and cost savings [9][10]. Group 3: Competitive Landscape - The competitive landscape is becoming increasingly concentrated, with the top 10 companies expected to account for nearly 80% of shipments by 2025, reflecting a trend of resource consolidation towards leading firms [10][11]. - Key players in the industry include DeFu Technology, Longdian Huaxin, and Jiayuan Technology, which dominate the market due to their technological and production capabilities [10][11]. Group 4: Future Trends - The industry is expected to focus on three core directions: continued emphasis on ultra-thin products, deepening supply chain integration, and diversification strategies to enhance resilience against market fluctuations [10][12][13]. - Companies will increasingly pursue global expansion and product diversification to mitigate risks and tap into new profit growth areas [13].

Core Viewpoint - The article highlights the strong performance of stocks in the power equipment sector, particularly those benefiting from policy support and technological advancements, with a focus on battery, photovoltaic, and grid equipment industries [3][4]. Group 1: Fund Allocation Trends - Public funds have significantly increased their holdings in the power equipment sector, particularly in batteries, photovoltaics, and grid equipment, with 13 stocks seeing a rise in fund ownership by over 1 percentage point in Q4 [8]. - The most notable increase in fund holdings was observed in Tianhua New Energy (300390.SZ), where the number of funds increased from 5 to 109, and the holding ratio rose from 3.31% to 9% [10]. - Other key stocks in the battery sector that received increased attention include Penghui Energy (300438.SZ), which saw a 4 percentage point increase in fund holdings, and its stock price rose over 30% in Q4 [16]. Group 2: Performance of Key Stocks - Tianhua New Energy's stock price surged nearly 120% in Q4, driven by a significant investment from CATL, which acquired a 26 billion yuan stake, marking a deepening partnership with a core customer [10]. - Penghui Energy is expected to report a net profit of 170 million to 230 million yuan for the full year, a significant turnaround from a loss of 252 million yuan the previous year [12][13]. - Other notable stocks include Tianji Co. (002759.SZ), which is projected to turn profitable in 2025, and has seen a significant increase in fund interest [23][22]. Group 3: Sector Insights - The article emphasizes that the battery sector remains a focal point for institutional investment, with a notable shift towards upstream materials as prices for lithium carbonate and hexafluorophosphate have shown an upward trend [23]. - In the photovoltaic equipment sector, Maimai Co. (300751.SZ) has been highlighted for its significant fund inflow, with a holding ratio increase of 4 percentage points, benefiting from the growing interest in space photovoltaic technology [32]. - The grid equipment sector has also attracted attention, with Jinpan Technology and Sifang Co. being favored by institutional investors, although the increase in holdings was less pronounced compared to battery-related stocks [25].