Baoding Technology Co.,Ltd. (002552.SZ) has issued an announcement stating that its stock price has experienced a rapid and significant short-term increase, with substantial trading volume and a high actual turnover rate over the past thirty trading days. This indicates a scenario of overheated market sentiment and irrational speculation, which carries the risk of a swift price decline.
The company has recently noted the circulation of online information regarding the inclusion of its products in NVIDIA's supply chain certification system. The company clarifies that all such information is inaccurate. To date, Baoding Technology has had no contact with NVIDIA and has not engaged in any form of business cooperation with the company.
The company's copper-clad laminate products primarily consist of conventional products such as FR-4 and composite boards. It does not produce AI-specific copper-clad laminates and has not identified applications in the AI server or computing power sectors. Currently, the company does not sell high-speed copper-clad laminates M7 and M9, holds no related orders, and generates no revenue from them. The M7 product is still in the customer certification stage, does not involve overseas clients, and there is significant uncertainty regarding its certification approval. The M9 product is in the early research and development phase, with no corresponding samples available, leading to high uncertainty regarding related R&D progress and outcomes.
Baoding Technology's copper foil products are mainly standard copper foil, which is not applicable for use in AI servers or computing power fields, and these products have a low gross profit margin. Its ultra-low profile HVLP copper foil is currently in the customer certification and market development stage. It has not been included in any AI server supply chain certification, has not entered mass production, and there are no expansion plans. Future order acquisition and business development for this product remain uncertain.
In the first quarter of 2026, revenue from HVLP copper foil was approximately 100,000 yuan, accounting for only about 0.01% of the company's total revenue. Its sales volume represented merely 0.03% of the company's total copper foil sales. This revenue primarily stemmed from samples provided for customer certification; no formal orders were generated, and there were no international sales. Consequently, the contribution of this product to the company's overall operating performance is expected to be limited in the short term.
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