Summary of the Conference Call for XunJieXing Company Overview - **Company**: XunJieXing - **Industry**: Optical modules and PCB manufacturing Key Points Industry and Market Dynamics - XunJieXing benefits from the increasing demand for AI, with major clients like Foxconn gradually ramping up orders, establishing a foundation for capacity growth [2][3] - The company has released its production capacity and is positioned for scalable development, with four factories located in Shenzhen, Xinfeng, and Zhuhai [3] Optical Module Business - Starting from July 2025, the monthly demand for 400G optical modules is expected to reach approximately 600K units, translating to an order value of 10-12 million yuan [2][4] - The pricing structure for optical modules is as follows: - 400G: ~11,000 yuan/sqm - 800G: ~30,000 yuan/sqm - 1.6T: Expected to exceed 60,000 yuan/sqm - The high pricing of these products significantly enhances the company's profitability, with Foxconn's 400G orders priced much higher than the company's previous average [5][27] Client Relationships and Orders - Foxconn has placed its first batch of optical module PCB orders worth over 10 million yuan, primarily for 400G products, with some 800G products included [4] - Other significant clients include Hisense, Chengdu Chuhan, and Huagong Zhengyuan, with expectations of million-level orders from them in the future [22] Collaboration with PCB Manufacturers - XunJieXing is collaborating with power PCB manufacturers such as Boke, Weidi, and Oulutong, with expected shipments in 2026 [6] Robotics PCB Business - The robotics PCB segment accounts for about 10% of total orders, with ongoing efforts to engage leading enterprises for future growth [7][8] - The company is developing electronic skin technology in collaboration with Nankai University, which has received positive feedback from clients like Xiaomi [9][10][11] New Factory Developments - The Zhuhai factory commenced production in Q3-Q4 2025, utilizing a large panel strategy and high automation to enhance order consolidation and value addition [12][14] - Expected gross margin for the Zhuhai factory is projected to be at least 50% when operating at full capacity [15] Future Revenue Projections - The optical module business is anticipated to generate at least 100 million yuan in total revenue in 2026, with potential to reach around 200 million yuan [19][20] - The company is also expanding its production capacity to meet the growing demand for 800G and 1.6T products [20] Strategic Directions - XunJieXing is focused on optimizing its customer and product structure, with confidence in future performance driven by ongoing client onboarding and new product developments [28] Additional Insights - The company has begun to explore overseas markets through an online mall model, aiming to reduce costs and improve delivery times [16] - The collaboration with Professor Xu's team from Nankai University is expected to deepen, potentially leading to equity partnerships and independent project operations [18] This summary encapsulates the key insights and developments discussed during the conference call, highlighting XunJieXing's strategic positioning and growth potential in the optical module and PCB manufacturing sectors.

证券代码：688655 证券简称：迅捷兴 深圳市迅捷兴科技股份有限公司 2025 年第三次临时股东会 会议资料 2025 年 12 月 一、为确认出席大会的股东或其代理人或其他出席者的出席资格，会议工作 人员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 深圳市迅捷兴科技股份有限公司 2025年第三次临时股东会会议资料 深圳市迅捷兴科技股份有限公司 2025 年第三次临时股东会会议资料目录 | 2025 | 年第三次临时股东会会议须知 | 3 | | --- | --- | --- | | 2025 | 年第三次临时股东会会议议程 | 5 | | 2025 | 年第三次临时股东会会议议案 | 7 | | | 议案一：《关于续聘会计师事务所的议案》 | 7 | 深圳市迅捷兴科技股份有限公司 2025年第三次临时股东会会议资料 深圳市迅捷兴科技股份有限公司 2025 年第三次临时股东会会议须知 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证大 会的顺利进行，根据《中华人民共和国公司法》《中华人民共和国证券法》《上 市公司股东会规则》以及《深圳市迅捷兴科技股份有限公司章程》、《深圳市 ...

Core Insights - On November 21, Xunji Technology's stock fell by 4.62%, with a trading volume of 41.26 million yuan [1] - The company experienced a net financing outflow of 158,500 yuan on the same day, with total financing and securities lending balance reaching 96.67 million yuan [1] Financing Summary - On November 21, Xunji Technology had a financing purchase amount of 3.0164 million yuan, while the financing repayment was 3.1749 million yuan, resulting in a net financing buy of -158,500 yuan [1] - The current financing balance of 96.67 million yuan accounts for 4.33% of the circulating market value, which is below the 40th percentile level over the past year, indicating a low position [1] Securities Lending Summary - On November 21, there were no shares repaid or sold in securities lending, resulting in a sell amount of 0 yuan [1] - The securities lending balance was also 0, which is above the 90th percentile level over the past year, indicating a high position [1] Company Overview - Shenzhen Xunji Technology Co., Ltd. is located in Bao'an District, Shenzhen, Guangdong Province, and was established on August 19, 2005, with its listing date on May 11, 2021 [1] - The company's main business involves the research, development, production, and sales of printed circuit boards, with revenue composition being 95.34% from printed circuit boards and 4.66% from other sources [1] Financial Performance - As of September 30, Xunji Technology had 5,784 shareholders, an increase of 6.99% from the previous period, while the average circulating shares per person decreased by 6.54% to 23,061 shares [2] - For the period from January to September 2025, the company achieved operating revenue of 488 million yuan, a year-on-year increase of 40.48%, but reported a net profit attributable to shareholders of -16.272 million yuan, a year-on-year decrease of 1,244.32% [2] - Since its A-share listing, the company has distributed a total of 30.0128 million yuan in dividends, with 20.0085 million yuan distributed over the past three years [2]

Core Viewpoint - The company plans to transfer certain assets related to PCB production to its wholly-owned subsidiary, Jiexing Zhizao, at their actual book value, and will increase the subsidiary's registered capital to support its operations [2] Group 1: Asset Transfer - The company intends to transfer part of its assets associated with PCB manufacturing to Jiexing Zhizao [2] - The transfer will be conducted at the actual book value of the assets [2] Group 2: Capital Increase - The company will inject 49.9 million yuan of its own funds into Jiexing Zhizao to ensure its future production and operations [2] - Following the capital increase, Jiexing Zhizao's registered capital will rise from 100,000 yuan to 50 million yuan [2]

Core Viewpoint - The company aims to optimize its organizational management structure by transferring certain assets related to PCB production to its wholly-owned subsidiary, Jiexing Zhizao, to enhance operational efficiency [1] Group 1: Organizational Changes - The company plans to clarify the goals and responsibilities between itself and its subsidiaries to improve overall management efficiency [1] - The separation of production and management functions is a key strategy in the company's restructuring efforts [1] Group 2: Financial Actions - The company intends to transfer assets at their actual book value to Jiexing Zhizao to support its production operations [1] - A capital increase of 49.9 million yuan will be made to Jiexing Zhizao, raising its registered capital from 100,000 yuan to 50 million yuan [1]

Core Viewpoint - The company aims to optimize its organizational management structure by transferring certain assets related to PCB production to its wholly-owned subsidiary, Jiexing Zhizao, to enhance operational efficiency [1] Group 1: Organizational Changes - The company plans to clarify the goals and responsibilities between itself and its subsidiaries to achieve a separation of production and management functions [1] - The transfer of assets will be conducted at their actual book value to Jiexing Zhizao [1] Group 2: Financial Actions - The company intends to increase its investment in Jiexing Zhizao by 49.9 million yuan, raising its registered capital from 100,000 yuan to 50 million yuan [1]

Group 1 - The company, Xunjiexing, announced plans to optimize its organizational structure by transferring certain assets related to PCB production to its wholly-owned subsidiary, Jiexing Zhizao, to improve overall operational efficiency [1] - The company will increase its investment in Jiexing Zhizao by 49.9 million yuan, raising its registered capital from 100,000 yuan to 50 million yuan [1] - For the year 2024, Xunjiexing's revenue composition is projected to be 95.34% from printed circuit boards and 4.66% from other businesses [1] Group 2 - As of the report, Xunjiexing has a market capitalization of 2.3 billion yuan [2]

Group 1 - The core viewpoint of the article is that Xunjiexing (688655.SH) is restructuring its organizational management to enhance operational efficiency by transferring certain assets related to PCB production to its wholly-owned subsidiary, Jiexing Zhizao [1] - The company plans to increase the registered capital of Jiexing Zhizao from 100,000 yuan to 50 million yuan through an investment of 49.9 million yuan from its own funds [1] - This restructuring aims to clarify the goals and responsibilities between the company and its subsidiaries, separating production and management functions [1]

证券代码：688655 证券简称：迅捷兴 公告编号：2025-075 深圳市迅捷兴科技股份有限公司 关于向全资子公司增资的公告 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： 交易内容：根据业务需要，对全资子公司深圳市捷兴智造科技有限公司 增资 4,990.00 万元。 本次增资事项已经公司第四届董事会第六次会议审议通过，无需提交公 司股东会审议。本次增资事项不构成关联交易，亦不构成《上市公司重大资产重 组管理办法》《上海证券交易所科创板股票上市规则》规定的重大资产重组。 相关风险提示：本次增资事项尚需履行相关管理部门的变更登记程序， 本次增资对象为公司的全资子公司，整体风险可控，但仍受宏观经济、行业环境、 市场竞争、经营管理等因素的影响，经营状况和收益存在不确定性的风险。 一、董事会召开情况 二、本次增资概述 （一）为进一步优化公司组织管理架构，明确公司与各子公司的目标与责任， 实现生产经营职能与管理职能的分离，提高公司整体经营管理效率，公司拟将现 有业务中与 PCB 生产制造环节相关的部分资产按实际账面 ...

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。 证券代码：688655 证券简称：迅捷兴 公告编号：2025-074 深圳市迅捷兴科技股份有限公司 关于续聘会计师事务所的公告 重要内容提示： 拟聘任的会计师事务所名称：立信会计师事务所（特殊普通合伙）（以下 简称"立信"） 一、拟聘任会计师事务所的基本情况 （一）机构信息 1、基本信息 立信会计师事务所（特殊普通合伙）（以下简称"立信"）由我国会计泰斗潘 序伦博士于 1927 年在上海创建，1986 年复办，2010 年成为全国首家完成改制的 特殊普通合伙制会计师事务所，注册地址为上海市，首席合伙人为朱建弟先生。 立信是国际会计网络 BDO 的成员所，长期从事证券服务业务，新证券法实施前 具有证券、期货业务许可证，具有 H 股审计资格，并已向美国公众公司会计监 督委员会（PCAOB）注册登记。 截至 2024 年末，立信拥有合伙人 296 名、注册会计师 2,498 名、从业人员 总数 10,021 名，签署过证券服务业务审计报告的注册会计师 743 名。 立信 2024 ...