Jintian Co., Ltd.: Copper busbar capacity in the chip and semiconductor field currently 35,000 mt; 2025 electromagnetic flat wire shipments 25,000 mt

On July 27, the stock price of Jintian fell. As of the close on July 31, Jintian was down 1.22%, at 9.7 yuan per share.

In terms of news, the Investor Relations Activity Record announced by Jintian (July 22–24, 2026) showed:

1. Company’s industry position and competitive advantages.

Jintian responded: The company has been deeply engaged in the non-ferrous metal processing field for 40 years and is one of the largest enterprises with the most complete industry chain in China. In 2025, the company achieved total production of copper and copper alloy materials of 1.9061 million mt, with copper semis production ranking first globally. The company offers a rich variety of copper products, capable of meeting clients’ one‑stop procurement needs for multiple categories such as copper billet, pipe & tube, strip, and wire. The company’s copper products have been widely used in NEVs, AI computing power, clean energy, communication technology, and other fields. Currently, the company has developed a strong cultural foundation and excellent organizational capabilities, boasting significant market size and a globalized industrial layout; possesses leading manufacturing and R&D strengths; has built a specialized product portfolio and established a solid group of top industry clients; and has constructed forward‑looking green recycling technology barriers, laying a solid foundation for becoming a world‑class base for copper products and advanced materials.

2. Company’s capacity construction planning in key emerging fields.

Jintian responded: At present, the company’s copper busbar capacity for the chip semiconductor field is 35,000 mt, and for rack busway is 15,000 mt. The company established a liquid cooling technology subsidiary in Guangdong to continuously enhance the capacity and technical level of copper busbar for chip semiconductors and rack busways. At the same time, the company is investing in the construction of a “high‑precision copper busbar production project for liquid cooling and rack busways with an annual output of 30,000 mt” in Vietnam, further promoting the specialization and rapid development of liquid cooling‑related businesses. Detailed capacity planning in other emerging fields can be found in the company’s periodic reports.

3. Company’s construction progress and business situation of electromagnetic flat wire.

Jintian responded: In 2025, the company’s electromagnetic flat wire shipments reached 25,000 mt, up 16% YoY, of which flat wire shipments for 800V and above high‑voltage platforms grew 50% YoY, and high‑voltage flat wire shipments accounted for 47%, up 10 percentage points YoY, with market share continuing to lead. The company’s NEV electromagnetic flat wire development project has achieved mass production of over 200 items, with 60 new designated projects for NEV drive motors added throughout the year, of which 36 were for high‑voltage platforms, accounting for 60%, and batch supply has been realized for many. The company’s flat wire product for 1000V drive motors has become the core supporting material for “megawatt flash charging” technology in the NEV field, with some projects having achieved batch supply; meanwhile, client certification for 1200V drive motor flat wire is progressing steadily, and the 1500V platform has completed product design verification and entered the client recommendation stage, securing a first‑mover advantage for mass production of next‑generation high‑voltage platforms.

4. Company’s construction progress and business situation of rare earth permanent magnet products.

Jintian responded: The company’s rare earth magnetic material business, after over 20 years of deep cultivation, has become one of the enterprises with high technology and a well‑established product system among domestic peers. Currently, the company has two magnetic material production sites in Ningbo and Baotou. On the basis of an annual capacity of 9,000 mt, it is actively planning the second phase project of the Baotou site to further increase capacity to 13,000 mt. In 2025, the company’s rare earth magnetic material business achieved main business revenue of 1.718 billion yuan, up 32.47% YoY; the gross margin of rare earth magnetic material was 12.61%, up 4.25 percentage points YoY. Against the backdrop of rare earth export control policies, the company became one of the first enterprises approved by the Ministry of Commerce and the General Administration of Customs to obtain the general export license for rare earth permanent magnets; at the same time, by newly establishing a subsidiary in Germany, it accelerates international layout and increases international market share. The company’s rare earth permanent magnet products are now widely used in multiple high‑end fields such as NEVs, wind power generation, high‑efficiency energy‑saving motors, robots, consumer electronics, and medical devices.

5. Company’s position advantages and business results in the secondary copper field.

Jintian responded: The company has become one of the enterprises with the largest secondary copper utilization volume and the highest comprehensive utilization rate in China, and also one of the few companies globally in the industry to achieve a closed‑loop across the entire industry chain of secondary copper recycling, purification, and deep processing. The company’s self‑developed low‑carbon secondary copper products, while ensuring product performance, have significant carbon reduction strategic value, providing high‑quality and complete one‑stop green copper semis solutions for cutting‑edge technology and zero‑carbon economy development. In 2025, the sales of the company’s green high‑end low‑carbon secondary copper products grew 54% YoY. At present, the product matrix has covered copper strip, copper wire, electromagnetic wire, copper pipe & tube, copper busbar, copper billet, etc., and is applied in high‑end consumer electronics, automotive industry, power and electrical sectors, specifically including laptop cooling modules, mobile phone vibration motors, wireless charging coils, NEV electric drives, AC/DC power supplies, etc., achieving mass production in products of many world‑renowned clients, forming a new performance driver represented by “green low‑carbon secondary copper products.”

On July 24, Jintian responded to investors’ questions on the interactive platform, stating that the company adheres to prudent financial policies, has established standardized financial management systems, implements mature full‑process risk decision‑making and operational mechanisms, and maintains efficient capital utilization efficiency. The company has long enjoyed good credit status, with ample bank credit lines at present. The company will continue to handle various risks effectively, steadily promote business development, optimize financial structure, improve asset liquidity, and enhance the efficiency and turnover speed of capital utilization. For specific information, please refer to the company’s periodic reports.

On July 1, Jintian issued an announcement stating that in June 2026, the company repurchased 660,000 shares through centralized price bidding, accounting for 0.04% of the company’s total share capital. The highest transaction price was 10.55 yuan per share, and the lowest was 10.15 yuan per share. The total amount paid was 6,844,400 yuan (excluding transaction costs).

In its 2025 annual report, when introducing its business operations during the reporting period, Jintian mentioned: The company has focused on the non‑ferrous metal processing field for 40 years, providing advanced material high‑value comprehensive solutions to various pillar, technology‑based industries and advanced productivity fields, forming a multi‑category segmented product matrix of copper and copper alloy materials, rare earth permanent magnet materials, etc. Currently, the company has become one of the copper and copper alloy material producers with the most complete industry chain, the widest variety, and the largest scale in China, as well as one of the enterprises with high technology and a well‑established product system in the domestic rare earth magnetic material industry.

Regarding the business plan, Jintian stated in its 2025 annual report: In 2026, the company will focus on high‑quality development requirements, guided by the strategic goals of the 15th Five‑Year Plan, and formulate specific strategic goals tailored to market demand changes and the company’s actual situation. With an international perspective and concept, it will introduce advanced technologies, improve organizational capabilities, and comprehensively enhance management levels in procurement, production, and sales, striving to build a modern industrial system and make solid progress toward the company’s strategic goals. At the same time, the company has long adhered to an international strategic layout, serving global clients, utilizing high‑quality global resources, and promoting the company’s product leadership, talent leadership, management leadership, and service leadership, providing clients with professional solutions and services. The company will, as always, persist in leading through technological innovation, accelerate the realization of high‑level technological self‑reliance and self‑strengthening, speed up the development of new quality productive forces, open up new fields and new tracks for development, cultivate new development momentum, and enhance new competitive advantages. It will continue to deeply cultivate the NEV industry, clean energy, and chip semiconductor industry to consolidate industry influence; rapidly expand the computing power cooling industry to achieve large‑scale mass production and build a growth engine; focus on the layout of robot and low‑altitude flight cutting‑edge R&D to form future competitiveness; and continuously promote the company’s low‑carbon recycled product innovation to create a core low‑carbon advantage.

A research report from Huaxi Securities pointed out: Amid the AI computing power infrastructure boom, the demand logic for copper is expanding from a traditional power metal to an underlying core material for AI hardware. 1) As the speed of AI servers, switches, and high‑speed network equipment continues to increase, copper cables in short‑distance high‑speed interconnects, with advantages of low cost, low power consumption, and low latency, still hold an important position in intra‑rack interconnects, server backplanes, and high‑speed connection scenarios. 2) The demand for high‑performance copper foil from high‑frequency and high‑speed PCBs, AI accelerator cards, and switch motherboards is rising, with low‑profile, high‑ductility, high‑reliability copper foil becoming a key material for high‑speed signal transmission. 3) The increase in power density of AI servers drives the demand for power supply copper busbars, connector copper alloys, liquid cooling plates, cooling modules, and power system copper materials, upgrading copper from a “usage logic” to a dual logic of “usage + material added value.” High‑end copper foil and copper materials end: [Tongguan Copper Foil], [Zhongyi Technology], [Jiayuan Technology], [Nuode], [Defu Technology], [Baoding Technology], [Boway Alloy], [Chujiang New Materials], [Jintian], [Zhejiang Hailiang], [Zhongyuan New Materials], [Diangong Alloy], [Youyan Powder Materials]; high‑speed interconnect and connector peripheral targets: [Woer Heat‑Shrinkable Material], [Shenyu Communication], [Zhaolong Interconnect], [Dingtong Technology], [Huafeng Technology].