Group 1 - The company, Fangbang Co., announced its participation in the 2025 semi-annual performance briefing for the semiconductor equipment and materials industry on September 10, 2025, from 15:00 to 17:00 [2]

证券代码：688020 证券简称：方邦股份 公告编号：2025-052 广州方邦电子股份有限公司 关于参加 2025 年半年度科创板半导体设备及材料 行业集体业绩说明会的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 会议召开时间：2025 年 9 月 10 日（星期三）15:00-17:00 会议召开地点：上海证券交易所上证路演中心 （网址：https://roadshow.sseinfo.com/）； 会议召开方式：上证路演中心网络文字互动 （一）会议召开时间：2025 年 9 月 10 日（星期三）15:00-17:00 （二）会议召开地点：上证路演中心（https://roadshow.sseinfo.com/） 投资者可于 2025 年 9 月 4 日（星期四）至 9 月 9 日（星期二）16:00 前登录 上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 dm@fbflex.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 广州方邦电子股份有限公司（以下简称"公司 ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company reported a revenue of 172 million yuan in the first half of 2025, representing a year-on-year increase of 16.06%, but the net profit attributable to shareholders was a loss of 24 million yuan, widening the loss by 8.67% year-on-year [7] - The company is facing short-term performance pressure due to overall cost reduction in the industry and intensified competition, with a significant increase in losses in the second quarter of 2025 [7] - The company is actively improving its product structure and has opportunities for growth in the copper foil business driven by AI [7] - The forecast for net profit attributable to shareholders for 2025-2027 is 22 million, 79 million, and 169 million yuan respectively, with corresponding EPS of 0.27, 0.98, and 2.09 yuan [7] Financial Performance Summary - Revenue for 2023 is projected at 345 million yuan, with a growth rate of 10.4%, and is expected to reach 1,017 million yuan by 2027, with a growth rate of 24.7% [6][8] - The net profit is expected to turn positive in 2025 with a forecast of 22 million yuan, and is projected to grow significantly to 169 million yuan by 2027 [6][8] - The company's gross margin is expected to improve from 28.2% in 2023 to 46.0% in 2027 [8] Business Segment Analysis - The shielding film business saw a 6.65% increase in sales volume, but revenue slightly declined due to intensified competition [7] - The copper foil business reported a revenue of 38.32 million yuan, with a year-on-year increase of 6%, and a significant growth in RTF copper foil shipments, which increased by 21 times [7] - The FCCL segment experienced a substantial increase of 372% in self-made copper foil FCCL, although it has not yet achieved scale effects [7]

方邦股份 20250828 摘要 方邦股份 2025 年上半年屏蔽膜业务小幅增长，预计下半年受益于韩国 客户新款旗舰手机采用，将显著提升收入和毛利率，对整体业绩形成重 要补充。 公司主动控制普通铜箔出货量以减少亏损，同时中高端 RTF 铜箔出货量 同比增长超两倍，该产品过去依赖进口，方邦股份已实现技术突破。 脑心通板业务上半年实现近 3.7 倍增长，是公司重点关注项目，采用自 研自产原材料，市场表现良好，成为业绩增长亮点。 FCT 业务采取自研自产原材料策略，已开发出铜箔搭配国外 PI 材料的 FPCR，正在测试认证，有望提升毛利率和盈利能力，并积极布局 Apple CCL 市场。 可博同产品逐步稳定并通过多家头部载板厂及终端认证，已有小批量订 单，受益于 cover p 技术和 CPO 光模块等新技术，市场需求有望扩大。 薄膜电阻产品已量产，订单稳定增长，受益于关税问题打破美国 Omega 垄断，国内客户加速导入，毛利率高，对今年业绩增厚显著， 预计明年贡献更多增长。 公司积极推进北美大客户导入，技术测试已完成，预计明年或后年有望 进入，该市场屏蔽膜需求巨大，若能获得一半订单，业务体量将翻倍， 毛利率有望提 ...

Group 1 - The company has decided to abolish the supervisory board, with its functions being transferred to the audit committee of the board of directors [3] - The company's registered capital has been changed from 80,666,656 yuan to 80,892,000 yuan, following the completion of stock option grants [5] - Amendments to the company's articles of association are planned to align with the latest legal requirements and operational needs, pending approval from the shareholders' meeting [5][6] Group 2 - The company will also revise and abolish certain governance systems to ensure compliance with the latest laws and regulations, with some changes requiring shareholder approval [6] - The revised governance documents have been disclosed on the Shanghai Stock Exchange website [6][8]

Core Viewpoint - The company has approved the cancellation of 229,000 stock options due to the expiration of the first exercise period of the 2022 stock option incentive plan, which will not materially affect its financial status or operational results [3][4][5]. Group 1: Stock Option Cancellation - The company held meetings on June 13, 2025, and August 27, 2025, to approve the cancellation of certain stock options and adjustments related to the stock option incentive plans [1][2]. - The cancellation of 229,000 stock options is in accordance with the relevant regulations and will not impact the implementation of the 2022 stock option incentive plan [4][5][6]. Group 2: Impact on Company - The cancellation of stock options is compliant with the management regulations and will not have a significant impact on the company's financial condition or operational results [3][4]. - The management team’s stability will remain unaffected by this cancellation [3][4]. Group 3: Legal and Committee Opinions - The Compensation and Assessment Committee and the Supervisory Committee both agree that the cancellation aligns with the relevant laws and regulations, and does not harm the interests of the company or its shareholders [4][5]. - The legal opinion confirms that the necessary authorizations and approvals for the cancellation have been obtained [6].

Group 1 - Longyang Electronics and Jin'an Guoji both hit the daily limit up in the afternoon trading session [1] - Jiangnan New Materials and Woge Optoelectronics previously reached the daily limit up [1] - Other companies such as Dongcai Technology, Fangbang Co., Jiyuan Technology, Tongguan Copper Foil, and Dongwei Technology also experienced gains [1]

Core Viewpoint - The company reported a year-on-year increase in revenue for the first half of 2025, but the net profit attributable to shareholders showed a larger loss compared to the previous year, indicating ongoing challenges in profitability despite revenue growth [2][3]. Financial Performance - The company achieved a revenue of 172 million yuan in the first half of 2025, representing a year-on-year growth of 16.06% [3]. - The net profit attributable to shareholders was -23.86 million yuan, indicating an increase in losses compared to the same period last year [3]. - The net profit after deducting non-recurring items was -31.79 million yuan, which is a narrower loss compared to the previous year [3]. Business Segments - The sales revenue from the electromagnetic shielding film business was 86.35 million yuan, showing a decline compared to last year [3]. - The copper foil business generated revenue of 38.32 million yuan, reflecting a year-on-year increase of 6.04% [3]. - The flexible copper clad laminate business saw significant growth, with revenue reaching 13.75 million yuan, a year-on-year increase of 371.67% [3]. Market Position and Challenges - The company is recognized as a leading domestic player in the electromagnetic shielding film sector, having filled a gap in high-end products and broken the monopoly of foreign companies [3]. - However, the core business of electromagnetic shielding film is facing challenges due to declining profit margins and a decrease in sales volume, attributed to the stagnation in smartphone shipments and increased cost control by manufacturers [3][4]. Stock Performance - The company's stock price has increased by over 100% in 2025, benefiting from the high market demand for PCB-related companies [2][6]. - The stock price reached 70.57 yuan, with a market capitalization of 5.704 billion yuan as of August 27 [2]. Future Prospects - The company is actively developing new copper foil products in collaboration with Nvidia and its upstream suppliers, aiming to meet specific technical requirements [6]. - There are expectations for the flexible copper clad laminate products to enter the supply chains of major companies like Pengding Holdings and Jingwang [6].

Core Viewpoint - The company reported a year-on-year increase in revenue for the first half of 2025, but the net profit attributable to shareholders showed a larger loss compared to the previous year, indicating ongoing challenges in profitability despite revenue growth [1][2]. Financial Performance - The company achieved revenue of 172 million yuan in the first half of 2025, representing a year-on-year growth of 16.06% [2]. - The net profit attributable to shareholders was -23.86 million yuan, indicating an increase in losses compared to the same period last year [2]. - The net profit after deducting non-recurring items was -31.79 million yuan, which is a narrower loss compared to the previous year [2]. Business Segment Analysis - The sales of the electromagnetic shielding film business amounted to 86.35 million yuan, showing a decline compared to last year [2]. - The copper foil business generated revenue of 38.32 million yuan, reflecting a year-on-year increase of 6.04% [2]. - The flexible copper clad laminate business saw significant growth, with revenue reaching 13.75 million yuan, a year-on-year increase of 371.67% [2]. Market Position and Challenges - The company is recognized as a leading domestic player in the electromagnetic shielding film sector, having filled a gap in high-end products and breaking the monopoly of foreign companies [2]. - However, the core business of electromagnetic shielding film is facing challenges due to declining profit margins and a decrease in sales volume, attributed to the stagnation in smartphone terminal shipments and increased cost control by manufacturers [2][3]. Stock Performance - The company's stock price has increased by over 100% in 2025, benefiting from the high market demand for PCB-related companies [4]. - The stock price performance is linked to the overall positive sentiment in the PCB market, which has seen significant interest from investors [4]. Future Developments - The company is actively developing new copper foil products for high-speed cable shielding based on customer requirements and is working to stabilize product quality [5]. - There are plans for the company's flexible copper clad laminate products to enter the supply chains of major players like Pengding Holdings and Jingwang [5].

Core Viewpoint - Fangbang Co., Ltd. announced on August 27 that it plans to provide a guarantee of up to 1 billion RMB for its wholly-owned subsidiary Zhuhai Dachuang Electronics Co., Ltd. for a comprehensive credit application to the bank [1] Group 1 - The guarantee will include various forms such as guarantees, mortgages, and pledges, with specific terms to be determined in the contract to be signed later [1]