Group 1 - A-shares opened lower on August 20, with the AI concept experiencing a pullback, particularly the STAR Market AI ETF (588930) which saw a decline of 0.44% after a drop of over 1.3% during the day [1] - Among the constituent stocks, Tianzhun Technology rose over 3%, while Cambrian, Daotong Technology, and Hengxuan Technology also showed positive performance [1] - The STAR Market AI ETF closely tracks the Shanghai STAR Market AI Index, which selects 30 large-cap stocks involved in providing foundational resources, technology, and application support for AI [1] Group 2 - According to招商证券, artificial intelligence is leading a new wave of technological revolution, accelerating penetration across various industries, with China achieving a breakthrough in AI technology and taking a global innovation leadership position [2] - Tianfeng Securities noted that internet company earnings reports have validated that AI investments are yielding substantial returns, and the resonance of AI both domestically and internationally is expected to propel China's AI application ecosystem into a rapid iteration cycle [2] - Overall, there is a sustained positive outlook on the medium to long-term investment opportunities within the Chinese AI sector [2]

Group 1 - The company Tianzhun Technology (688003.SH) has confirmed that its PCB equipment has been supplied to well-known clients such as Dongshan Precision, Huidian Co., and Jingwang Electronics [2] - The inquiry was made by an investor on the investor interaction platform regarding the company's PCB equipment supply and this year's shipment volume [2] - The company did not provide specific figures regarding the shipment volume for the year [2]

天准科技（688003.SH）8月19日在投资者互动平台表示，公司的智能驾驶域控制器产品已经获得重型 卡车、无人物流车等商用车的批量订单。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：董秘好，贵公司表述：全资子公司天准星智布局了智 能驾驶域控制器，可服务于Robotaxi领域。请介绍下目前贵司智能驾驶域控制器获得定点厂商的量产订 单情况。 ...

来源：金融界 天准科技最新一期业绩显示，截至2025中报，公司营业总收入5.97亿元、同比增长10.32%，归属净利润 1419.23万元，同比增长45.92%，扣非净利润2267.59万元，同比增长7.56%，流动比率1.487、速动比率 0.788、资产负债率53.25%。 天眼查商业履历信息显示，苏州天准科技股份有限公司，成立于2009年，位于苏州市，是一家以从事仪 器仪表制造业为主的企业。企业注册资本19244.5万人民币，实缴资本6400万人民币。公司法定代表人 为徐一华。 通过天眼查大数据分析，苏州天准科技股份有限公司共对外投资了15家企业，参与招投标项目67次，知 识产权方面有商标信息77条，专利信息805条，此外企业还拥有行政许可28个。 金融界消息 截至2025年8月19日收盘，天准科技（688003）报收于57.39元，上涨2.7%，换手率4.85%， 成交量9.41万手，成交金额5.36亿元。 资金流向方面，今日主力资金净流入7113.51万元，占比成交额13.26%。其中，超大单净流入4014.54万 元、占成交额7.48%，大单净流入3098.97万元、占成交额5.78%，中单净流出 ...

格隆汇8月19日丨天准科技(688003.SH)在投资者互动平台表示，公司的智能驾驶域控制器产品已经获得 重型卡车、无人物流车等商用车的批量订单。 ...

Group 1 - The company Tianzhun Technology (688003.SH) has announced its development of carbon dioxide laser drilling equipment, which has reached advanced domestic technical standards [1]

英伟达概念板块领涨，上涨3.73%，其中诚迈科技上涨20.0%，工业富联上涨10.01%，移远通信上涨 5.79%，罗普特、天准科技、钧崴电子涨超2%。（第一财经AI快讯） ...

Group 1 - The company held its first extraordinary general meeting of shareholders in 2025, with no resolutions being rejected [2] - The meeting was convened by the board of directors and chaired by Chairman Xu Yihua, utilizing a combination of on-site and online voting methods [2][3] - All procedures for convening and holding the meeting complied with the Company Law and the company's articles of association [2][3][8] Group 2 - The meeting saw the attendance of all seven current directors and three supervisors, with the board secretary also present [3] - The meeting was witnessed by Zhejiang Liuhe Law Firm, which provided a legal opinion confirming the legality of the meeting's procedures and resolutions [8] Group 3 - Several resolutions were passed, including changes to the company's registered capital and amendments to the articles of association [4][5] - All resolutions related to the amendments of various internal rules and regulations were approved, including the management of fundraising and related party transactions [5][6][7] Group 4 - The company announced the resignation of non-independent director Wen Yanpei due to personal reasons, effective immediately upon submission of his resignation [10][11] - Wen Yanpei held no direct shares in the company but had an indirect holding of 3,100,000 shares through an investment partnership [12] - His resignation does not affect the minimum number of board members or the normal operation of the board [12]

Core Insights - The price increase of copper-clad laminates reflects the rising demand in the PCB industry, driven by the growth in AI computing servers [2][3] - Major copper-clad laminate manufacturers, including Weilibang, Jiantao Laminates, and Hongruixing, have announced price hikes due to high raw material costs and increased bargaining power from strong demand [2][3] Industry Overview - The global server sales reached $95.2 billion in Q1 2025, a year-on-year increase of 134.1%, with expectations for the global server market to reach $366 billion in 2025, a 44.6% increase [3] - The PCB market is projected to grow from $73.57 billion in 2024 to $78.56 billion in 2025, with a year-on-year growth of 6.8% [3] - The demand for high-layer multi-layer boards and HDI boards is significantly outpacing the overall PCB industry growth, with multi-layer boards expected to grow by 40.2% and HDI boards by 18.8% in 2024 [3] Production Insights - Key production processes in PCB manufacturing include drilling, exposure, and testing, with drilling equipment accounting for approximately 20% of the total industry value [4] - The increasing complexity of HDI boards necessitates advancements in drilling, exposure, and plating processes, leading to higher demand for precision equipment [4] - Domestic production rates are high for mechanical drilling, while opportunities for domestic substitution exist in laser drilling and imaging processes [4] Investment Recommendations - Focus on core production processes: for drilling, consider Dazhu CNC (301200.SZ) and consumables from Dingtai High-Tech (301377.SZ) and Zhongtung High-Tech (000657.SZ); for exposure, look at Chipbond Technology (688630.SH) and Tianzhun Technology (688003.SH); for plating, Eastway Technology (688700.SH) is recommended; for solder paste printing, Keg Precision (301338.SZ) is suggested [5]

Group 1 - The legal opinion letter was issued by Zhejiang Lihe Law Firm regarding the first extraordinary general meeting of shareholders of Suzhou Tianzhun Technology Co., Ltd. in 2025 [2] - The meeting was convened in accordance with the Company Law, Securities Law, and relevant regulations, with a notice published 15 days prior to the meeting [2][4] - The meeting took place on August 18, 2025, combining on-site and online voting methods, with the on-site meeting held at the company's conference room [3][4] Group 2 - A total of 81 shareholders or their proxies attended the meeting, representing 102,279,472 shares, which is 53.0155% of the total voting shares [4][5] - The voting results showed that 102,226,227 shares were in favor of the proposals, with 29,331 shares abstaining, indicating a strong majority [6][11] - The voting by minority investors revealed that 98.2189% supported the proposals, demonstrating significant approval from this group [6][9] Group 3 - The legal opinion concluded that the meeting's procedures, participant qualifications, and voting processes complied with the relevant laws and the company's articles of association [11] - The resolutions passed during the meeting were deemed legal and valid, confirming the legitimacy of the proceedings [11]