Core Viewpoint - The company has successfully delivered mass production of HDI flexible circuit boards and HDI rigid-flex boards at its Zhuhai production line, indicating a positive outlook for these products due to the growing demand driven by advancements in 5G, AIoT, new energy vehicles, and high-end consumer electronics [1] Group 1: Product Development and Market Outlook - The Zhuhai production line's HDI flexible circuit boards and HDI rigid-flex boards are now in mass production [1] - The rapid development of 5G, AIoT, new energy vehicles, and high-end consumer electronics is increasing the demand for component integration and lightweight designs, suggesting a favorable market outlook for these products [1] - The company's advanced technology experience accumulated in HDI rigid boards has been successfully applied to the research and production of HDI flexible and rigid-flex boards, ensuring quick adaptation to high-end processes and market demands for high value-added products [1]

Group 1 - Shenzhen Xinsong Semiconductor has successfully completed a C-round financing of approximately 269 million yuan, marking a significant milestone in its development and a key step for the Chinese automotive electronics industry [1][2] - Fuman Microelectronics announced that 2,498,750 restricted shares will be listed for trading on December 11, 2025, representing 1.14% of the company's total share capital [1][2] - Rockchip's flagship SoC product RK3588 has achieved a high market share in the robotics sector, collaborating with well-known companies such as Yushutech and Cloud Deep Technology [1][2] - China’s Kangqiang Electronics reported that 18.76 million shares held by China Resources Trust have been judicially auctioned and transferred, resulting in a passive reduction of holdings [1][2] Group 2 - Google announced an Android XR special event scheduled for December 8, focusing on XR-related content and the integration of AI capabilities into XR devices [1][2] - Former President Trump approved Nvidia's export of H200 AI chips to China, requiring a 25% sales commission, which could help Nvidia recover significant business losses in key global markets [1][2] - Intel has become the first major customer for Tata Electronics' upcoming semiconductor manufacturing facility in India, which is part of a broader investment of approximately $14 billion in semiconductor manufacturing [3]

Group 1 - Shenzhen Xinsong Semiconductor Co., Ltd. successfully completed a C-round financing of 269 million yuan, attracting strategic investments of 249 million yuan from leading automotive PCB company Shiyun Circuit and its affiliates, along with an additional 20 million yuan from existing shareholder Hongsheng Capital [1] - Xinsong Semiconductor specializes in the filter field, having established a stable supply chain for well-known brands such as Xiaomi, Honor, Samsung, and Motorola, and is the first domestic filter company to pass AEC-Q200 automotive certification, achieving mass production of several automotive-grade filters [1] - Shiyun Circuit is a leading player in the automotive PCB sector, serving major global electric vehicle brands like Tesla, BMW, and Mercedes-Benz, and acts as a crucial link in the supply chain between components and vehicle manufacturers [1] Group 2 - Leveraging Shiyun Circuit's industry resources, the financing is expected to accelerate the entry of Xinsong Semiconductor's automotive-grade filters into the front-loading market, significantly shortening the cycle from certification to mass supply and enhancing service capabilities for domestic ODM manufacturers and consumer electronics clients [2] - The strategic investment will enable both companies to develop integrated solutions combining PCB and filters, focusing on new modular products tailored to smart vehicle demands, thereby strengthening their competitive advantage in the automotive PCB sector and expanding business growth opportunities [2]

Core Insights - Shenzhen New Sound Semiconductor Co., Ltd. successfully completed a C-round financing of 269 million yuan, attracting strategic investments totaling 249 million yuan from leading automotive PCB company Shiyun Circuit and its affiliates, along with an additional 20 million yuan from existing shareholder Hongsheng Capital [1][3] Group 1: Market Expansion and Strategic Collaboration - The capital cooperation injects momentum into New Sound Semiconductor's expansion in the automotive market and initiates a new chapter of industrial chain collaboration between the filter and PCB sectors, which is significant for the scaling and diversification of domestic filters [3] - New Sound Semiconductor is a leading domestic filter company with strong capabilities in technology research and commercialization, supplying well-known brands such as Xiaomi, Honor, Samsung, and Motorola, particularly excelling in the BAW and TC-SAW high-end markets [3][4] - New Sound Semiconductor is the first domestic filter company to pass the AEC-Q200 automotive certification, achieving mass production of several automotive-grade filters, which is a key reason for Shiyun Circuit's investment [3][4] Group 2: Value Creation from Financing - The financing will enhance New Sound Semiconductor's market breakthroughs and service upgrades, allowing its automotive-grade filters to enter the front-end market rapidly, significantly shortening the cycle from certification to mass supply [4] - The funding will also strengthen New Sound Semiconductor's service capabilities for domestic ODM manufacturers and consumer electronics clients, enabling a more precise response to evolving technical demands during the chip localization process [4] Group 3: Synergistic Effects and Competitive Advantage - Shiyun Circuit's strategic investment will extend and enhance the value of the industrial chain, integrating its business with filters as a core automotive component to create a "PCB + filter" integrated solution capability [4][5] - The collaboration will focus on efficient implementation and technological integration in the automotive market, systematically reducing market expansion risks and compressing technology conversion cycles, thereby establishing competitive barriers in the accelerating AI hardware and application landscape [5]

Core Viewpoint - The company has announced the redemption of part of its idle raised funds for cash management, aiming to enhance the efficiency of fund utilization and generate investment returns while ensuring that the fundraising investment plans are not affected [2][12]. Group 1: Cash Management Redemption - The company redeemed cash management products amounting to 50 million yuan, yielding a profit of 236,300 yuan [3]. - The cash management involved floating income certificates from GF Securities Co., Ltd. with a total amount of 80 million yuan [4][2]. - The decision for cash management was approved in the board and supervisory meetings held on April 15, 2025 [3][7]. Group 2: Fund Source and Management - The funds used for cash management are temporarily idle raised funds from a specific stock issuance approved by the China Securities Regulatory Commission, totaling approximately 1.79 billion yuan [5][15]. - The net amount raised after deducting issuance costs was approximately 1.77 billion yuan, with 54.94 million yuan already utilized by June 30, 2025 [15]. - The company has established a special account for the management of raised funds, ensuring compliance with regulatory requirements [15][16]. Group 3: Investment Purpose and Strategy - The purpose of using idle funds for cash management is to improve fund efficiency and ensure the preservation and appreciation of cash assets [3][12]. - The company plans to invest in low-risk financial products with high liquidity and safety, ensuring that the investment does not alter the intended use of the raised funds [8][12]. Group 4: Risk Control Measures - The company will adhere to prudent investment principles, with a maximum investment period of 12 months for safe and liquid products [9]. - Regular monitoring and analysis of the investment products will be conducted to mitigate potential risks [9][10]. - Internal audits and oversight by independent directors and supervisory boards will ensure compliance and risk management [10][11]. Group 5: Impact on the Company - The cash management initiative is expected to enhance the efficiency of the raised funds and provide additional returns for the company and its shareholders [12]. - The company will follow relevant accounting standards to reflect the cash management activities in its financial statements [12].

Core Points - The company, Shiyun Circuit, announced the signing of a four-party supervision agreement for the special fund account related to its fundraising efforts [2] - The newly established special account will hold a total of 520 million yuan for the construction of a high-end, high-precision printed circuit board project in Thailand, with an annual production capacity of 1.2 million square meters [2] Summary by Category - **Company Announcement** - Shiyun Circuit has signed an agreement with Thailand Shiyun, Industrial and Commercial Bank of China (Thailand) Co., Ltd., and CITIC Securities as the sponsor [2] - The agreement pertains to the establishment of a special fund account for fundraising purposes [2] - **Project Details** - The funds will be allocated for the construction of the first phase of a new project in Thailand, specifically a green industrial park [2] - The project aims to produce 1.2 million square meters of high-end, high-precision printed circuit boards annually [2]

一、募集资金基本情况 证券代码：603920 证券简称：世运电路 公告编号：2025-092 广东世运电路科技股份有限公司 关于新增募集资金专用账户并签署四方监管协议的公告 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。 本次新增募集资金专项账户的开立及存储情况如下： | 制 电 路 板 建 | | --- | | 设 项 目 （ 一 | | 期） | 三、《募集资金专户存储四方监管协议》的主要内容 经中国证券监督管理委员会《关于同意广东世运电路科技股份有限公司向特 定对象发行股票注册的批复》（证监许可〔2023〕1017号）核准，广东世运电路 科技股份有限公司（以下简称"公司"）向特定对象发行人民币普通股（A股） 117,964,243 股 ， 发 行 价 格 为 15.20 元 / 股 ， 募 集 资 金 总 额 为 人 民 币 1,793,056,493.60元，扣除发行费用16,054,211.59元（不含增值税），实际募 集资金净额为人民币1,777,002,282.01元。2024年3月25日，天健会计师事务所 （ ...

证券代码：603920 证券简称：世运电路 公告编号：2025-091 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到期赎回及进展 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。 重要内容提示： ● 现金管理到期赎回的情况 | 产品名称 | 广发证券收益凭证"收益宝"4 号（GIUJJI） | | --- | --- | | 受托方名称 | 广发证券股份有限公司 | | 赎回金额 | 5,000 万元 | | 产品期限 | 2025 年 9 月 3 日-2025 年 12 月 3 日 | ● 本次进行现金管理的情况 1、现金管理种类：广发证券股份有限公司浮动收益凭证 （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，实现 公司现金资产的保值增值，保障公司及股东的利益。 （二）本次现金管理金额：8,000 万元。 （三）资金来源 2、现金管理金额：8,000 万元 3、已履行的审议程序：本事项已经广东 ...

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： ● 股东持股的基本情况 本次减持计划实施前，公司股东新豪国际集团有限公司（以下简称"新豪国际"）持有广东世运电路科技 股份有限公司（以下简称"公司"或"世运电路"）144,990,107股，占公司总股本的20.12%。上述股份来源 于公司首次公开发行股票前持有的股份及上市后以资本公积金转增股本方式取得的股份，均为无限售条 件流通股。 ● 减持计划的实施结果情况 2025年8月9日，公司披露了《世运电路股东减持股份计划公告》（公告编号：2025-057），新豪国际出 于业务发展需要，拟自减持计划公告之日起15个交易日后的三个月内（即2025年9月1日起至2025年11月 30日止）通过集中竞价和大宗交易方式减持所持有的公司股份合计不超过21,617,769股，即不超过公司 总股本的3.00%。其中：拟通过集中竞价方式减持不超过7,205,923股公司股份，即不超过公司总股本的 1.00%，拟通过大宗交易方式减持不超过14,411,846股公司股份，即不超过 ...

证券代码：603920 证券简称：世运电路 公告编号：2025-090 广东世运电路科技股份有限公司股东减持股份计划时间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： ● 股东持股的基本情况 本次减持计划实施前，公司股东新豪国际集团有限公司（以下简称"新豪国际"）持有广东世运电路科技 股份有限公司（以下简称"公司"或"世运电路"）144,990,107股，占公司总股本的20.12%。上述股份来源 于公司首次公开发行股票前持有的股份及上市后以资本公积金转增股本方式取得的股份，均为无限售条 件流通股。 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)股东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 2025年8月9日，公司披露了《世运电路股东减持股份计划公告》（公告编号：2025-057），新豪国际出 于业务发展需要，拟自减持计划公 ...