证券代码：603920 证券简称：世运电路 公告编号：2026-003 广东世运电路科技股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 1、现金管理种类：定期存款 2、现金管理金额：2,000 万美元（按 2026 年 1 月 29 日中国外汇交易中心 公布的人民币对美元官方汇率中间价6.9771折算，折合人民币13,954.20万元）。 3、已履行的审议程序：本事项已经广东世运电路科技股份有限公司（以下 简称"公司"）于 2025 年 4 月 15 日召开的第五届董事会第三次会议和第五届监 事会第三次会议审议通过。 4、风险提示：公司使用部分闲置募集资金进行现金管理所涉及的理财产品 属于低风险型产品，但金融市场受宏观经济的影响较大，不排除该项投资受到市 场波动的影响，面临收益波动风险、流动性风险、信用风险、操作风险、信息技 术系统风险、政策法律风险、不可抗力及意外事件风险、信息传递等风险。提醒 广大投资者注意投资风险。 一、本次进行现金管理的情况 （一）投资目的 在不影响公司募集资金投资计划正常进行的前提下，公司使用部分闲置募集 资金进行现金管理是为了更好地发挥资金效益，提高公司资金的使用效率 ...

世运电路 20260127 摘要 世运电路在高压和功率芯片预埋领域的技术布局使其在特斯拉 PCB 采购 中占据 20%以上的市场份额，显示其在新能源汽车供应链中的重要地位。 公司积极拓展储能、商业航天、脑机接口、人形机器人等前沿科技领域 的 PCB 应用，这些领域对高性能 PCB 的需求将驱动公司业绩增长。 预测世运电路 2025-2027 年营业收入分别为 61 亿、79 亿和 113 亿， 归母净利润分别为 8.9 亿、11.7 亿和 17.1 亿，预示未来几年公司将保 持稳健增长态势。 SpaceX 卫星发射数量预计在 2025 年达到 3,000 颗，2026 年增至 4,000 颗，地面接收终端数量也将显著增加，这将为世运电路带来大量 的 PCB 订单。 人形机器人对高可靠、高性能 PCB 的需求不断增加，AI 算力芯片的迭代 升级也持续推动高性能 PCB 的需求，世运电路有望受益于这些趋势。 世运电路作为特斯拉及马斯克相关产业的重要供应商，市场份额稳固， 通过扩产有望进一步巩固其在新兴领域的地位，具备迎来业绩爆发"马 斯克时刻"的潜力。 为什么认为世运电路会迎来"马斯克时刻"？ 我们认为世运电路有 ...

Group 1 - Tianqi Co., Ltd. has entered the brain-computer interface (BCI) sector by investing in Suzhou Huahui Chip, focusing on high-density flexible neural electrode technology, achieving animal testing stages, and becoming a key player in domestic BCI hardware localization. The developed flexible neural electrode has 1024 channels, with signal acquisition precision and anti-interference capabilities at an internationally advanced level. The company has also completed biocompatibility surface modification technology to reduce inflammation after electrode implantation, with core patents authorized by the National Intellectual Property Administration [1][2][3] - Innovation Medical, through its subsidiary Boling Brain Machine, is one of the first companies in China to commercialize BCI rehabilitation products. The core product, Cyberlink AC5, was officially launched in October 2025, generating sales revenue of 114,000 yuan in 2025. Another product, Cyberlink AM5, has completed multi-center clinical trials and is progressing through the approval process. The company plans to establish five additional clinical cooperation centers to accelerate the application of BCI technology in treating neurological diseases [4][5][6] - iFlytek is a leading company in the non-invasive BCI field, leveraging its artificial intelligence technology to develop BCI collaborative technology. The company has established long-term partnerships with universities for research and development. Its non-invasive BCI system has been piloted in 120 schools nationwide, improving student attention by 30%. In the medical field, a collaboration with Beijing Tiantan Hospital has achieved a 92% accuracy rate in identifying abnormal brain signals for epilepsy [7][8][9] Group 2 - Jiahe Intelligent focuses on the research and mass production of BCI hardware, particularly EEG acquisition devices and core components, serving both consumer and medical-grade markets. The company has achieved large-scale production of EEG acquisition headphones with a signal recognition accuracy of 92%, primarily used in sleep monitoring and attention training. It plans to expand into overseas BCI hardware markets by 2026 [10][11][12] - Tom Cat is the first company in China to apply BCI technology in consumer scenarios, focusing on interactive games and rehabilitation training products. The company launched a mind-controlled game product in 2025, which quickly gained over 500,000 users. It also collaborates with rehabilitation institutions to develop BCI rehabilitation training systems, showing a 35% average improvement in patient motor function scores [13][14][15] - Hanwei Technology, through its subsidiary Weisheng Technology, is a leading company in the EEG sensor field, with an annual shipment of over 2 million units. The company has developed an epilepsy early warning system with an 88% accuracy rate in clinical tests. It also focuses on flexible pressure sensors for invasive BCI electrodes, addressing industry pain points [16][17][18] Group 3 - StarNet Ruijie leverages its network communication technology to develop low-power, high-stability EEG signal transmission systems and data encryption modules, becoming a core supplier for BCI data links. The developed transmission system supports real-time transmission of 1024-channel EEG signals with a latency of less than 10ms and a stability of 99.9% [19][20][21] - Yijiahe focuses on the integration of BCI and embodied intelligent robots, exploring applications in smart healthcare. The company has signed a strategic cooperation agreement to develop real-time emotional companionship and brain-controlled robots, enhancing the emotional care capabilities of robots [22][23][24] - Lihua Technology is focused on incubating and investing in the BCI sector, successfully incubating three high-tech companies in the field. The company collaborates with the Shenzhen Institute of Advanced Technology to provide comprehensive services for incubated companies, addressing development pain points [25][26][27] Group 4 - Sanbo Neurosurgery is a leading private hospital in the neurosurgery field, focusing on the clinical application and research of BCI. The company has successfully conducted an interventional BCI surgery, accumulating valuable experience for clinical applications. It is also recruiting participants for ongoing clinical trials [28][29][30] - Shiyun Circuit is a core enterprise in the PCB field, providing customized PCB products for BCI devices. The company focuses on high-density, flexible PCB designs, achieving low signal loss rates below 2% [31][32][33] - Meihua Medical is a leading supplier of core components for BCI, having entered the core supply chain for invasive BCI products. The company has developed components that have passed biocompatibility tests, ensuring long-term stability and safety for implanted devices [34][35][36]

Market Performance - The component sector increased by 2.2% on January 27, with Huazheng New Materials leading the gains [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] Top Gainers in the Component Sector - Huazheng New Materials (603186) closed at 71.07, up 6.89% with a trading volume of 135,400 shares and a transaction value of 924 million [1] - Shiyun Circuit (603920) closed at 68.25, up 6.36% with a trading volume of 413,800 shares and a transaction value of 2.722 billion [1] - Pengding Holdings (002938) closed at 60.49, up 5.97% with a trading volume of 481,600 shares and a transaction value of 2.877 billion [1] - Other notable gainers include Nanya New Materials (5.89%), Fangbang Co. (5.36%), and ShenNan Circuit (5.15%) [1] Market Capital Flow - The component sector saw a net inflow of 980 million from main funds, while retail funds experienced a net outflow of 375 million [2][3] - The main funds' net inflow was significant in stocks like Dongshan Precision (6.69 million) and Shenghong Technology (3.23 million) [3] Notable Decliners - ST Dongjing (002199) closed at 9.64, down 5.02% with a trading volume of 63,600 shares and a transaction value of 62.352 million [2] - Fangzheng Technology (600601) closed at 11.87, down 2.63% with a trading volume of 1,722,700 shares and a transaction value of 2.041 billion [2] - Other decliners include Zhongjing Electronics (2.09%) and Xunjiexing (1.92%) [2]

Core Insights - The report from Caitong Securities highlights the potential growth in CPU demand driven by the ongoing development of AI Agents and the implementation of sandbox technology to mitigate associated risks [1][2]. Group 1: AI Agent Sandbox Development - Both domestic and international markets are gradually deploying AI Agent sandboxing technology. Notably, Meta's acquisition of Manus for over $2 billion by December 2025 is expected to accelerate the promotion and application of sandbox technology [1]. - Major domestic cloud platforms, such as Alibaba Cloud, are launching and iterating AI Agent Infra products centered around AI Agent Sandbox, indicating a gradual implementation of sandboxing in AI Agent deployment [1]. Group 2: CPU Demand and Risk Control - The sandbox isolation technology is crucial for controlling potential risks associated with AI Agents, which in turn creates additional demand for CPUs. The action module of AI Agents translates abstract instructions into specific operations, heavily relying on the richness and reliability of the tools available [2]. - The core technology enabling this tool usage is function calling, which allows large language models (LLMs) to output structured JSON objects alongside text generation. This separation of understanding and execution is vital for AI Agent functionality [2]. Group 3: Investment Recommendations - Investment focus should be on overseas CPU manufacturers such as AMD and Intel, as well as domestic CPU alternatives like Haiguang Information and Loongson Technology. Additionally, supply chains related to AMD (Tongfu Microelectronics, Aoshikang, Shiyun Circuit) and Intel (Lanke Technology, Shiyun Circuit, Xingsen Technology) are recommended for attention [3].

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002636 | 金安国纪 | 25.63 | 10.00% | 81.12万 | 20.51亿 | | 603920 | 世运电路 | 65.71 | 9.99% | 43.29万 | 27.81亿 | | 300903 | 科翔股份 | 26.22 | 8.39% | 60.25万 | 15.50亿 | | 688539 | 高华科技 | 49.89 | 4.77% | 10.34万 | 5.14亿 | | 300657 | 弘信电子 | 31.45 | 3.97% | 49.60万 | 15.67亿 | | 603175 | 超颖电子 | 73.68 | 3.14% | 6.63万 | 4.83亿 | | 600563 | 法拉电子 | 117.56 | 2.72% | 5.89万 | 6.88亿 | | 661Z00 | *ST东晶 | 10.20 | 2.41% | 3.20万 | 3233.08万 | | 920491 | 圆迪威 | ...

公司于2025年9月20日披露了《世运电路关于高级管理人员减持股份计划公告》（公司编号：2025- 075），公司董事会秘书尹嘉亮先生计划自减持计划公告之日起15个交易日后的3个月内（即2025年10月 21日至2026年1月20日期间）通过集中竞价交易方式减持公司股份不超过26,600股，即不超过公司总股 本的0.0037%。 近日，公司收到董事会秘书尹嘉亮先生发来的《关于减持股份计划时间届满暨减持结果的告知函》。截 至2026年1月20日，尹嘉亮先生通过集中竞价交易方式累计减持公司股份26,400股，占公司当前股份总 数的0.0037%。本次减持股份计划期限已届满。 一、减持主体减持前基本情况 ■ 上述减持主体无一致行动人。 本公司董事会、全体董事及相关股东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。 重要内容提示： ●大股东及董监高持股的基本情况 本次减持计划实施前，广东世运电路科技股份有限公司（以下简称"公司"）董事会秘书尹嘉亮先生持有 公司股份106,490股，占公司总股本的0.0148%。股份来源为公司股权激励取得。 ●减持计划的实施 ...

证券代码：603920 证券简称：世运电路 公告编号：2026-002 广东世运电路科技股份有限公司 关于高级管理人员减持计划期限届满暨减持结果的公告 本公司董事会、全体董事及相关股东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。 重要内容提示： ● 大股东及董监高持股的基本情况 本次减持计划实施前，广东世运电路科技股份有限公司（以下简称"公司"）董事会秘书尹嘉亮先生持有 公司股份106,490股，占公司总股本的0.0148%。股份来源为公司股权激励取得。 一、减持主体减持前基本情况 ■ 上述减持主体无一致行动人。 二、减持计划的实施结果 (一)大股东及董监高因以下事项披露减持计划实施结果： 披露的减持时间区间届满 ■ (二)本次减持是否遵守相关法律法规、本所业务规则的规定 √是□否 ● 减持计划的实施结果情况 公司于2025年9月20日披露了《世运电路关于高级管理人员减持股份计划公告》（公司编号：2025- 075），公司董事会秘书尹嘉亮先生计划自减持计划公告之日起15个交易日后的3个月内（即2025年10月 21日至2026年1月20日期间）通 ...

证券日报网讯 1月21日，世运电路发布公告称，本次减持计划实施前，公司董事会秘书尹嘉亮先生持有 公司股份106，490股，占公司总股本的0.0148%。近日，公司收到董事会秘书尹嘉亮先生发来的《关于 减持股份计划时间届满暨减持结果的告知函》。截至2026年1月20日，尹嘉亮先生通过集中竞价交易方 式累计减持公司股份26，400股，占公司当前股份总数的0.0037%。本次减持股份计划期限已届满。 （文章来源：证券日报） ...

每经AI快讯，世运电路1月21日晚间发布公告称，近日，公司收到董事会秘书尹嘉亮先生发来的《关于 减持股份计划时间届满暨减持结果的告知函》。截至2026年1月20日，尹嘉亮先生通过集中竞价交易方 式累计减持公司股份2.64万股，占公司当前股份总数的0.0037%。本次减持股份计划期限已届满。 （记者 王晓波） 每经头条（nbdtoutiao）——特朗普强要格陵兰岛，丹麦一养老基金率先清仓美债，美国资产全线下 跌！欧洲手握"金融核按钮"，双方会"鱼死网破"吗？专家解读→ ...