Core Insights - Guanghe Technology (001389) reported a total revenue of 2.425 billion yuan for the first half of 2025, representing a year-on-year growth of 42.17%, and a net profit attributable to shareholders of 492 million yuan, up 53.91% year-on-year [1] - The company's main business focuses on the research, production, and sales of multi-layer printed circuit boards (PCBs), primarily targeting the mid-to-high-end application market, with significant applications in servers, consumer electronics, industrial control, security electronics, communication, and automotive electronics [1] - The demand for computing power infrastructure has driven strong growth in Guanghe Technology's supply chain, leading to steady improvements in operational performance through market expansion and digitalization [1] Business Operations - The manufacturing base in Guangzhou has enhanced production capacity and process capabilities through digital transformation, resulting in improved product structure and delivery competitiveness [2] - Guanghe Technology's R&D expenses reached 117 million yuan, a 46% increase compared to the same period last year, reflecting the company's commitment to innovation and technology development [2] - The Thailand facility has officially commenced operations and is in the ramp-up phase, with plans to accelerate customer certification and product introduction in the second half of the year [2] Product Development - Several core technology-related products, including high-performance PCBs for high-end servers and AI server motherboards, have been recognized as high-quality innovative products in Guangdong Province for 2025 [3]

Core Insights - Guanghe Technology (001389) reported a total revenue of 2.425 billion yuan for the first half of 2025, representing a year-on-year growth of 42.17%, and a net profit attributable to shareholders of 492 million yuan, up 53.91% year-on-year [1] Business Performance - The main business of Guanghe Technology focuses on the research, production, and sales of multi-layer printed circuit boards (PCBs), primarily targeting the mid-to-high-end application market, with significant applications in servers, consumer electronics, industrial control, security electronics, communication, and automotive electronics [1] - Revenue from server PCBs accounts for approximately 70% of the company's total revenue, making it the primary downstream application area [1] - The company has benefited from strong demand in the computing infrastructure sector, leading to robust growth in the supply chain for computing products [1] Manufacturing and Capacity Expansion - The main manufacturing base in Guangzhou has enhanced production capacity and process capabilities through digital transformation, resulting in improved product structure and delivery competitiveness [2] - The Thailand facility officially commenced operations in June 2025 and is currently in the capacity ramp-up phase, with plans to accelerate customer certification and product introduction in the second half of the year [2] Research and Development - Research and development expenses reached 117 million yuan, a year-on-year increase of approximately 46%, reflecting the company's commitment to innovation [2] - The company has developed several core technologies related to server PCBs, establishing independent intellectual property rights and high-precision manufacturing processes [2] - Several key products, including high-performance PCBs for high-end servers and AI server motherboards, have been recognized as high-tech products in Guangdong Province for 2025 [3]

Core Viewpoint - Guangzhou Guanghe Technology Co., Ltd. reported a significant increase in revenue and net profit for the first half of 2025, driven by strong demand in the computing power supply chain and advancements in technology [3][14]. Financial Performance - The company's operating revenue reached approximately 2.42 billion yuan, a year-on-year increase of 42.17% compared to 1.71 billion yuan in the same period last year [3][14]. - The net profit attributable to shareholders was approximately 477.55 million yuan, up 47.78% from 323.15 million yuan in the previous year [3][14]. - Basic earnings per share increased to 1.1610 yuan, reflecting a 46.17% growth from 0.7943 yuan [3][14]. - The total assets at the end of the reporting period were approximately 6.27 billion yuan, a 10.35% increase from the previous year [3][14]. Industry Overview - The PCB (Printed Circuit Board) industry is crucial for electronic products, serving as a key electronic interconnection component [5][6]. - The global PCB market is projected to reach approximately 79.13 billion USD in 2025, with significant growth driven by advancements in AI and other technologies [6][7]. - The demand for high-layer, high-precision, and high-density PCB products is expected to continue growing, particularly in sectors such as data centers, AI, IoT, and automotive electronics [6][7]. Business Operations - The company focuses on the R&D, production, and sales of high-layer printed circuit boards, primarily targeting the mid-to-high-end application market [8][9]. - The main application area for the company's PCB products is in servers, accounting for about 70% of its revenue, particularly in high-performance computing and AI server markets [8][9]. - The company has established a comprehensive R&D system and has been recognized as a national high-tech enterprise, with several products awarded as high-quality technology products in Guangdong Province [9][19]. Strategic Development - The company aims to expand its international business through targeted customer cooperation and localized operations, enhancing its global market position [16]. - The operational strategy includes expanding high-value-added product offerings and improving smart manufacturing capabilities to capture market opportunities [16]. - The company emphasizes sustainable development, integrating environmental considerations into its operational strategy and achieving recognition as a green factory [24].

Core Viewpoint - Guangzhou Guanghe Technology Co., Ltd. reported significant growth in its financial performance for the first half of 2025, with notable increases in revenue and net profit compared to the same period last year [2][3]. Financial Performance - The company's operating revenue reached approximately 2.42 billion yuan, representing a 42.17% increase from 1.71 billion yuan in the same period last year [2]. - The net profit attributable to shareholders was approximately 491.58 million yuan, up 53.91% from 319.39 million yuan year-on-year [2]. - The net profit after deducting non-recurring gains and losses was about 477.55 million yuan, reflecting a 47.78% increase from 323.15 million yuan [2]. - The net cash flow from operating activities was approximately 453.10 million yuan, a 67.30% increase from 270.83 million yuan [2]. - Basic earnings per share increased to 1.1610 yuan, up 46.17% from 0.7943 yuan [2]. - Diluted earnings per share also rose to 1.1605 yuan, a 46.10% increase from 0.7943 yuan [2]. - The weighted average return on equity was 14.81%, compared to 13.79% in the previous year, marking a 1.02% increase [2]. Assets and Equity - Total assets at the end of the reporting period were approximately 6.27 billion yuan, a 10.35% increase from 5.69 billion yuan at the end of the previous year [3]. - The net assets attributable to shareholders were about 3.39 billion yuan, reflecting a 10.40% increase from 3.07 billion yuan [3]. Shareholder Information - The largest shareholder, Guangzhou Zhenyun Investment Co., Ltd., holds 40.25% of the shares, amounting to 171.14 million shares [3][4]. - The report indicates no changes in the controlling shareholder or actual controller during the reporting period [5].

Group 1 - The board meeting of Guangzhou Guanghe Technology Co., Ltd. was held on August 20, 2025, with all 7 directors present, confirming compliance with legal and regulatory requirements [1] - The board approved the 2025 semi-annual report, affirming that it accurately reflects the company's financial status and operational results, with no false statements or omissions [1][3] - The board's resolutions were passed unanimously, with 7 votes in favor and no votes against or abstentions [3][4] Group 2 - The company appointed Ms. Guan Xiuyan as the co-secretary following the resignation of Ms. He Qiantong, effective from August 20, 2025 [4] - The appointment of the new co-secretary was approved by the board and will take effect from the date the company's H shares are listed on the Hong Kong Stock Exchange [4]

Core Viewpoint - Guanghe Technology (001389) reported strong financial performance for the first half of 2025, driven by robust demand in the computing power supply chain [1] Financial Performance - The company achieved operating revenue of 2.425 billion yuan, representing a year-on-year increase of 42.17% [1] - The net profit attributable to shareholders reached 492 million yuan, marking a year-on-year growth of 53.91% [1] - Basic earnings per share were reported at 1.16 yuan [1] Market Dynamics - The strong growth in computing power infrastructure demand has led to a booming market for the company's products [1] - The company actively seized opportunities in the expanding computing power demand, resulting in steady improvement in operational performance [1]

Core Viewpoint - Guanghe Technology (001389.SZ) reported a significant increase in both revenue and net profit for the first half of 2025, indicating strong financial performance and growth potential [1] Financial Performance - The company's operating revenue reached 2.425 billion yuan, representing a year-on-year growth of 42.17% [1] - The net profit attributable to shareholders was 492 million yuan, showing a year-on-year increase of 53.91% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 478 million yuan, reflecting a year-on-year growth of 47.78% [1] - Basic earnings per share stood at 1.161 yuan [1]

广合科技（SZ 001389，收盘价：69.35元）8月21日晚间发布半年度业绩报告称，2025年上半年营业收 入约24.25亿元，同比增加42.17%；归属于上市公司股东的净利润约4.92亿元，同比增加53.91%；基本 每股收益1.161元，同比增加46.17%。 （文章来源：每日经济新闻） ...

广州广合科技股份有限公司 内部审计制度 第一章 总则 第一条 为完善广州广合科技股份有限公司（以下简称"公司"）治理结 构，规范公司经营行为，提高内部审计工作质量， 防范和控制公司风险，增 强信息披露的可靠性，保护投资者合法权益，依据《中华人民共和国公司法》、 《中华人民共和国审计法》、《中华人民共和国内部审计准则》、《深圳证券交易 所上市公司自律监管指引第 1 号——主板上市公司规范运作》、《香港联合交易 所有限公司证券上市规则》等法律法规以及《广州广合科技股份有限公司章程》 （以下简称"《公司章程》"）的有关规定，结合公司实际情况，制定本制度。 第二条 本制度所称内部审计，是指由公司内部机构或人员，对公司内部 控制制度和风险管理的有效性、财务信息的真实性和完整性以及经营活动的效 率和效果等开展的一种评价活动。 第三条 内部审计遵循"独立、客观、公正"的原则，保证其工作合法、 合理有效，完善公司内部约束机制，加强内部管理，提高经济效益。 第四条 公司高级管理人员、公司各部门及各控股子公司、分公司的财务 收支、经济活动均接受本规定的内部审计的监督检查。 第二章 内部审计部门与人员 第五条 公司设立专门的内部审 ...

证券代码：001389 证券简称：广合科技 公告编号：2025-046 广州广合科技股份有限公司 2025年半年度募集资金存放与使用情况的专项报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 根据深圳证券交易所《深圳证券交易所上市公司自律监管指引第 1 号——主 板上市公司规范运作》及《深圳证券交易所上市公司自律监管指南第 2 号——公 告格式》的规定，将广州广合科技股份有限公司（以下简称"公司"或"本公司"） 2025 年半年度募集资金存放与使用情况报告如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会《关于同意广州广合科技股份有限公司首次公开 发行股票注册的批复》（证监许可〔2023〕2182 号）同意注册，并经深圳证券交 易所《关于广州广合科技股份有限公司人民币普通股股票上市的通知》（深证上 〔2024〕239 号）同意，公司获准向社会公开发行人民币普通股（A 股）股票 4,230.00 万股，本次公开发行人民币普通股每股面值为人民币 1.00 元，发行价 格为 17.43 元/股，本次发行募集资金总额为人民 ...