Core Viewpoint - MSCI announced the results of its quarterly index review, which includes the addition and removal of several stocks in the MSCI China Index and MSCI Global Standard Index, effective after market close on August 26 [1][7]. Group 1: New Additions to MSCI China Index - The MSCI China Index added 14 stocks, including Horizon Robotics-W, Lao Pu Gold, NetEase Cloud Music, Sangfor Technologies, and Citic Bank [1][3]. - Among the newly added stocks, Citic Bank is the largest by market capitalization in the MSCI Emerging Markets Index [1]. Group 2: Stocks Removed from MSCI China Index - A total of 17 stocks were removed from the MSCI China Index, including Yingjia Gongjiu, Oriental Yuhong, Supor, and Hisense Home Appliances [1][9][10]. Group 3: Implications of Index Changes - The inclusion of new stocks in the MSCI China Index is expected to attract significant passive investment flows on the effective date [7]. - The MSCI China A-Shares Onshore Index also saw adjustments, adding five stocks, including Citic Bank and Giant Network [10].

格隆汇8月8日｜MSCI公布指数成份股季度检讨结果，MSCI中国指数成份股，新增14只股份，剔出17只 股份。 新加入的股份包括老铺黄金(6181.HK)、药明合联(2268.HK)、美图(1357.HK)、网易云音乐(9899.HK)、 三生制药(1530.HK)、中信金融资产(2799.HK)、科伦博泰生物(6990.HK)、地平线机器人(9660.HK)等。 其余纳入指数A股包括指南针(300803.SZ)、中信银行A股(601998.SH)、巨人网络(002558.SZ)、艾力斯 (688578.SH)及景旺电子(603228.SH)。 剔出股份包括海信家电(0921.HK)、中升控股(0881.HK)、吉祥航空(603885.SH)、养元饮品(603156.SH) 等。 MSCI指，老铺黄金和中信银行是新兴市场指数的最大3只新增成分股的其中2只。 香港小型股指数加入耀才证券(1428.HK)和德林国际(1126.HK)2只股份，没有股份被剔除。 所有变动于8月26日收市后生效。 ...

深圳市景旺电子股份有限公司 关于子公司使用募集资金临时补充 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603228 证券简称：景旺电子 公告编号:2025-087 债券代码：113669 债券简称：景23转债 2025年6月13日，珠海景旺已将用于临时补充流动资金的5,000.00万元募集资金归还至募集资金专用账 户，并及时将募集资金的归还情况通知了保荐机构及保荐代表人。 2025年8月7日，珠海景旺已将用于临时补充流动资金的5,000.00万元募集资金归还至募集资金专用账 户，并及时将募集资金的归还情况通知了保荐机构及保荐代表人。 截至本公告披露日，已归还临时补充流动资金的闲置募集资金金额为10,000.00万元，公司剩余临时补充 流动资金的10,000.00万元闲置募集资金将在到期之前归还，届时公司将及时履行信息披露义务。 特此公告。 深圳市景旺电子股份有限公司 董事会 2025年8月8日 流动资金提前归还的公告 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、准确性和完整性承担法律责任。 一、使用暂时闲置募集资金补充流动资金情况 深 ...

| 证券代码：603228 | 证券简称：景旺电子 | | 公告编号:2025-087 | | --- | --- | --- | --- | | 债券代码：113669 | 债券简称：景 23 | 转债 | | 深圳市景旺电子股份有限公司 关于子公司使用募集资金临时补充流动资金 提前归还的公告 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、准确性和完整性承担法律责任。 一、使用暂时闲置募集资金补充流动资金情况 深圳市景旺电子股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日召 开了第四届董事会第二十八次会议、第四届监事会第十八次会议，审议通过了《关 于子公司使用部分闲置募集资金临时补充流动资金的议案》，同意子公司景旺电 子科技（珠海）有限公司（以下简称"珠海景旺"）根据业务发展需要和营运资 金需求，使用不超过 20,000.00 万元闲置募集资金临时补充流动资金。详见公司 于 2025 年 4 月 29 日披露的《景旺电子关于子公司使用部分闲置募集资金临时补 充流动资金的公告》（公告编号：2025-034）。 特此公告。 二、募集资金归 ...

深圳市景旺电子股份有限公司 会议资料 二〇二五年八月 深圳市景旺电子股份有限公司 2025 年第二次临时股东大会 深圳市景旺电子股份有限公司 一、会议须知 深圳市景旺电子股份有限公司 2025 年第二次临时股东大会 深圳市景旺电子股份有限公司 为维护深圳市景旺电子股份有限公司（以下简称"公司"）全体股东的合法 权益，确保公司 2025 年第二次临时股东大会（以下简称"会议"）的顺利召开， 根据《中华人民共和国公司法》 《上市公司股东会规则》 席会议的，代理人还应出示本人身份证，授权委托书。 五、出席会议的股东或授权代表依法享有发言权、咨询权、表决权等各项权 利。 六、股东要求在会议上发言，须在会前向公司证券部登记，填写"股东发言 深圳市景旺电子股份有限公司 2025 年第二次临时股东大会 登记表"，股东应在与本次会议审议议案有直接关系的范围内展开发言，按持股 数从多到少依次排序，发言应言简意赅。股东发言时间不超过 5 分钟，除涉及公 司商业秘密不能在股东大会上公开外，主持人可安排公司董事、监事和高级管理 人员回答股东提问。 《深圳市景旺电子股份有 限公司章程》及《深圳市景旺电子股份有限公司股东大会议事规则》制 ...

深圳市景旺电子股份有限公司 2025 年第二次临时股东大会 会议资料 二〇二五年八月 深圳市景旺电子股份有限公司 2025 年第二次临时股东大会 深圳市景旺电子股份有限公司 2025 年第二次临时股东大会会议资料目录 2 一、会议须知 二、会议议程 三、会议议案 四、现场表决结果计票监票办法 五、股东现场投票注意事项 六、现场表决票 深圳市景旺电子股份有限公司 2025 年第二次临时股东大会 深圳市景旺电子股份有限公司 2025 年第二次临时股东大会会议须知 为维护深圳市景旺电子股份有限公司（以下简称"公司"）全体股东的合法 权益，确保公司 2025 年第二次临时股东大会（以下简称"会议"）的顺利召开， 根据《中华人民共和国公司法》《上市公司股东会规则》《深圳市景旺电子股份有 限公司章程》及《深圳市景旺电子股份有限公司股东大会议事规则》制定本须知， 出席会议的全体人员应当认真阅读并一致遵守： 一、会议期间，出席会议人员应以维护股东合法权益、确保会议正常进行、 提高议事效率为原则，认真履行法定职责。 二、为保证会议的严肃性和正常秩序，除依法出席会议的公司股东（或其授 权代表）、董事、监事、高级管理人员、聘请的律 ...

Summary of Conference Call Records Industry Overview - The conference call discusses the North American cloud service providers (CSPs) and the PCB (Printed Circuit Board) industry, particularly focusing on the demand for computing power driven by major tech companies like Google, Meta, Microsoft, and Amazon [1][2][4][5][13]. Key Points and Arguments Capital Expenditure Trends - Major tech companies have significantly increased their capital expenditure forecasts for data centers and cloud infrastructure, indicating a sustained demand for computing power. Amazon's expected capital expenditure for the year is projected to reach between $110 billion and $120 billion [1][4]. - Google raised its 2025 capital expenditure forecast from $75 billion to $85 billion, with further increases expected in 2026 [2]. - Meta's capital expenditure for 2025 is anticipated to be between $66 billion and $72 billion, with a confirmation of an additional $30 billion increase in 2026 [2]. - Microsoft reported a capital expenditure of $24.2 billion for the quarter, with expectations to exceed $30 billion in Q1 2026 [2]. PCB Companies Performance - Core PCB companies are experiencing a tight supply-demand situation, leading to significant stock price increases, reflecting market confidence in the growth of computing power demand [5][6]. - Key recommended PCB companies include: - **沪电 (Hui Dian)**: Expected to triple its output value, with a market capitalization potential of $150 billion to $200 billion, driven by major clients like Google, AWS, Meta, and OpenAI [6][7]. - **鹏鼎 (Peng Ding)**: Benefiting from Apple's hardboard business and flexible computing PCB business, with significant capacity expansion plans [6][7]. - **生益科技 (Sheng Yi Technology)**: Capable of switching over 50% of its capacity to AI-related products, with a strong presence in the North American market [6][7]. Future Outlook - The PCB industry is expected to see explosive growth in computing power demand in 2026, leading to increased tension in the supply chain [5][13]. - 生益电子 (Sheng Yi Electronics) is increasing its exposure in the ASIC field, with significant revenue contributions expected from clients like AWS, Google, and Meta [3][8]. - 深南电路 (Shen Nan Circuit) is positioned to enter the GPU and ASIC supply chains, with promising developments in new technology areas [10][11]. Additional Important Insights - The domestic PCB industry is on an upward trend, with CSP manufacturers continuously raising their capital expenditure expectations, positioning domestic PCB companies as global leaders in technology and capacity expansion [13]. - The anticipated shipment volume of NVIDIA GPU chips is expected to reach 4.5 to 5 million units by 2025, indicating robust growth in the semiconductor sector [14]. - The ASIC server supply chain is primarily dominated by Google and AWS, with Meta expected to increase its involvement starting in 2026 [16]. Conclusion - The conference call highlights a strong growth trajectory for the cloud computing and PCB industries, driven by increased capital expenditures from major tech companies and a tightening supply-demand balance in the PCB market. The outlook for key players in the PCB sector appears promising, with significant opportunities arising from the growing demand for AI and computing power.

8月1日，沪深两融数据显示，景旺电子获融资买入额1.92亿元，居两市第66位，当日融资偿还额2.79亿 元，净卖出8694.53万元。 最近三个交易日，30日-1日，景旺电子分别获融资买入2.15亿元、2.40亿元、1.92亿元。 融券方面，当日融券卖出0.01万股，净买入2.75万股。 ...

Quantitative Models and Construction Methods - **Model Name**: Real-time Public Fund Positioning **Model Construction Idea**: This model estimates the real-time positioning of public funds based on publicly available market information such as fund net value, disclosed holdings, and research activities[3][20] **Model Construction Process**: The process involves complex data processing of public market information, including fund net value, disclosed holdings, and research activities. Detailed methodology is referenced in the report "偏股混合型基金指数（885001.WI）：优势、复制与超越"[20] - **Model Name**: ETF Fund Positioning **Model Construction Idea**: This model tracks the dynamics of ETF fund holdings as a key indicator of market fund flows, reflecting the growing importance of index investment in the A-share market[3][21] **Model Construction Process**: The model calculates the proportion of ETF holdings relative to the market capitalization of PCB sector stocks. As of Q2 2025, the total scale of public ETF funds exceeded 4.3 trillion yuan, with ETF holdings in the PCB sector at a historical high, accounting for 2.6% of the sector's market capitalization[21][23] - **Model Name**: Financing Balance Dynamics **Model Construction Idea**: This model uses financing balance as a proxy for investor sentiment, where an increase in financing balance indicates a bullish outlook on the market[3][25] **Model Construction Process**: The model tracks the total amount of outstanding financing in margin trading. The PCB sector's financing balance is at a historical high, while the short-selling balance remains at a low level[25][27] - **Model Name**: Chip Yield Characteristics **Model Construction Idea**: This model evaluates the profitability of the PCB sector based on chip yield, which measures the return of current prices relative to historical chip costs. It identifies momentum effects in strong markets and reversal effects in weak markets[3][26] **Model Construction Process**: The model estimates the average holding cost of funds at different price levels and calculates chip yield as the return of current prices relative to historical chip costs. The PCB sector's current profitability is 22.95%[26][28] Model Backtesting Results - **Real-time Public Fund Positioning**: No specific quantitative backtesting results provided - **ETF Fund Positioning**: ETF holdings account for 2.6% of the PCB sector's market capitalization[23] - **Financing Balance Dynamics**: Financing balance is at a historical high, while short-selling balance is at a low level[25][27] - **Chip Yield Characteristics**: Current profitability of the PCB sector is 22.95%[26][28] Quantitative Factors and Construction Methods - **Factor Name**: Chip Yield **Factor Construction Idea**: This factor measures the profitability of the PCB sector based on the return of current prices relative to historical chip costs[3][26] **Factor Construction Process**: The factor is calculated as the return of current prices relative to historical chip costs. It reflects momentum effects in strong markets and reversal effects in weak markets. The PCB sector's current chip yield is 22.95%[26][28] Factor Backtesting Results - **Chip Yield**: Current profitability of the PCB sector is 22.95%[26][28]

证券之星消息，8月1日元件板块较上一交易日下跌2.4%，景旺电子领跌。当日上证指数报收于3559.95， 下跌0.37%。深证成指报收于10991.32，下跌0.17%。元件板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 300319 麦捷科技 | | 1.75 Z | 16.38% | -1854.19万 | -1.74% | -1.56 Z | -14.65% | | 688183 生益电子 | | 5012.79万 | 3.66% | 4029.51万 | 2.94% | -9042.29万 | -6.60% | | 301251 | 威尔高 | 3054.20万 | 8.13% | -3041.33万 | -8.10% | -12.87万 | -0.03% | | 300408 | 三环集团 | 2540.86万 | 4.30% | 1924.69万 | 3.25% | -4465.5 ...