Baoding Technology announced on May 19 that its stock price has experienced significant fluctuations, with a cumulative increase of over 20% in closing prices over two consecutive trading days. According to the Shenzhen Stock Exchange trading rules, this is classified as an abnormal stock trading fluctuation. The company's main products include copper-clad laminates, electronic copper foil, and gold mining and selection. The copper-clad laminates consist of conventional products such as fiberglass cloth-based and composite-based laminates. The company does not produce AI copper-clad laminates and has not found applications in AI servers or computing power fields. Currently, there are no sales of high-speed copper-clad laminates M7 and M9, and there are no related orders or revenue. The electronic copper foil products include high-temperature high-ductility copper foil, low-profile copper foil, reverse-treated copper foil, and ultra-low-profile copper foil. Among these, HVLP copper foil is still in the customer certification and market expansion stage, with no mass production. In 2025, HVLP copper foil revenue was less than 300,000 yuan, accounting for a very small proportion of the company's revenue, and its sales volume accounted for only 0.03% of the company's copper foil sales.
