（编辑 王雪儿） 证券日报网讯 东山精密9月25日在互动平台回答投资者提问时表示，公司将持续做好业务经营，秉承可 持续发展理念，着力提升经营业绩、核心竞争力和分红水平，严格按照相关法律法规和《公司章程》等 规定，综合考虑公司发展和投资者回报，以业绩增长带动价值成长，更好地维护全体股东的长远利益， 回馈广大投资者。 ...

Core Viewpoint - The PCB (Printed Circuit Board) industry is a crucial component of modern electronic products, with China leading the global market in production value and growth rate [1][3]. Industry Overview - The global PCB market is projected to reach $73.565 billion in 2024, with a year-on-year growth of 5.8%, while China's market is expected to reach $41.213 billion, growing at 9.0% [1]. - Guangdong province accounts for approximately 60% of China's PCB production capacity, housing a cluster of listed companies with a combined market value exceeding one trillion yuan [3][6]. Historical Development - China's PCB industry has evolved from limited production capabilities in the 1950s to becoming the world's largest producer by the mid-2000s, with significant contributions from Taiwan and Japan [5][6]. - The industry is concentrated in the Pearl River Delta and Yangtze River Delta regions, with Guangdong being the primary production base [5]. Market Dynamics - As of September 2025, there are 43 listed PCB companies in China's A-share market, with a total market capitalization of 1.46 trillion yuan, representing 1.27% of the total A-share market [6]. - Major cities for PCB companies include Shenzhen, Huizhou, Changzhou, and Shanghai, with Guangdong's listed companies valued at 1.03 trillion yuan [6]. Regional Development - The PCB industry is experiencing a shift towards midwestern cities, with regions like Jiangxi and Anhui emerging as new hubs due to favorable policies and cost advantages [8][10]. - Xinfeng County in Jiangxi has attracted over 200 electronic enterprises, achieving a production value of 22.887 billion yuan in 2024, marking a 23.2% increase [9]. - Guangde County in Anhui has developed into a significant PCB production area, with over 92 electronic circuit companies and an annual output exceeding 10 billion yuan [10]. Technological Advancements - The rise of AI technology is driving demand for high-performance PCBs, particularly for applications in AI servers and smart driving, necessitating advanced manufacturing processes [12]. - Leading companies in the PCB sector are increasing investments in high-end production capabilities, particularly in Zhuhai, which is becoming a new center for high-end PCB manufacturing [12][14]. Investment Trends - Major PCB manufacturers are planning significant expansions, with investments in advanced PCB production facilities across various cities, including Zhuhai and Huizhou [13][14]. - For instance, Jingwang Electronics is investing 5 billion yuan in a high-end HDI production project in Zhuhai, while Dongshan Precision has a total investment plan of $1 billion for its operations [13][14].

Group 1 - The circuit board index experienced a decline, with a drop of 2.01% during intraday trading [1] - Component stocks generally weakened, with notable declines in several companies [1] Group 2 - Dongshan Precision fell by 6.24%, Shenghong Technology decreased by 6.12%, and Jingwang Electronics dropped by 5.86% [1] - In addition, Inno Laser and Shengyi Electronics saw declines of 5.03% and 4.27%, respectively [1]

Group 1 - The core objective of Dongshan Precision's planned H-share issuance and listing on the Hong Kong Stock Exchange is to advance its internationalization strategy and enhance its overseas business layout, while also increasing its international brand recognition and overall competitiveness [1] - Dongshan Precision was listed on the Shenzhen Stock Exchange in 2010 and is projected to surpass a market capitalization of 100 billion yuan by July 2025, demonstrating strong performance in the capital markets [1] - As of September 24, the company's stock price was 74.85 yuan per share, with a latest market capitalization of 137.1 billion yuan, indicating significant growth this year [1] Group 2 - The company has been actively increasing its market presence in emerging sectors through acquisitions of foreign enterprises [1] - Dongshan Precision is currently in discussions with relevant intermediaries regarding the details of the H-share listing, with specific plans yet to be finalized [1] - This upcoming IPO in Hong Kong is expected to be a crucial step in accelerating the company's internationalization process [1]

9月24日，苏州东山精密（002384）制造股份有限公司(以下简称"东山精密")发布公告称，为进一步推 动公司国际化战略落地、拓展海外业务布局，提升国际品牌知名度与综合竞争力，东山精密正筹划发行 H股并在香港联合交易所有限公司(以下简称"香港联交所")主板挂牌上市的相关工作。 众和昆仑(北京)资产管理有限公司董事长柏文喜对《证券日报》记者分析称，从战略价值看，港股平台 与东山精密的全球化布局高度契合。一方面，借助旗下公司的国际客户网络，东山精密已深度融入全球 高端电子产业链；另一方面，港股市场聚集的国际机构投资者群体，不仅能为公司提供长期稳定的资金 支持，更可强化其与海外客户的合作信任度，进一步拓展国际市场份额。同时，在AI(人工智能)服务器 与数据中心供应链中，港股上市将帮助东山精密提升全球话语权，更好地把握高端光模块领域的增长机 遇。 柏文喜进一步表示，当前港股市场已汇聚新能源汽车、消费电子及AI产业链等领域的核心企业，形成 鲜明的产业集群效应。东山精密登陆香港联交所后，可依托港股资本平台深化与上下游企业的协同合 作，强化"PCB+光模块+精密组件"的一体化供应优势，这一业务模式也与港股市场对"硬科技+产 ...

Group 1 - The company Dongshan Precision announced plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and brand recognition [1] - In the first half of 2025, Dongshan Precision achieved total revenue of 16.955 billion yuan, a year-on-year increase of 1.96%, and a net profit attributable to shareholders of 758 million yuan, a year-on-year increase of 35.21% [3] - The company's gross profit margin improved due to reduced depreciation costs and ongoing structural adjustments in its LED business [3] Group 2 - Dongshan Precision's AI strategy focuses on building competitive hardware infrastructure to meet the demands of the AI industry ecosystem, with a focus on high-end PCBs and optical modules for AI computing power [3] - The current optical chip market is experiencing a supply shortage driven by the demand for high-speed optical modules, particularly for products with speeds of 800G and above [4] - The expansion cycle for optical chips is approximately one year, with an additional three years required for customer validation, while optical module expansion can respond more flexibly to customer demand [4]

Group 1 - The core objective of the company is to issue H-shares for listing in Hong Kong, aiming to raise approximately $1 billion (around 7.8 billion HKD) [1][3] - The company plans to enhance its international strategy and overseas business layout, improve brand recognition, and strengthen overall competitiveness [3] - As of the latest report, the company achieved a revenue of 16.955 billion CNY, a year-on-year increase of 1.96%, and a net profit attributable to shareholders of 758 million CNY, a year-on-year increase of 35.21% [3] Group 2 - The company, founded in 1998, has evolved from a small metal stamping factory into a major player in the PCB industry, with business segments including electronic circuits, optoelectronic displays, and precision manufacturing [3] - Key products include flexible and rigid printed circuit boards, metal structural components for new energy vehicles, LED backlights, LCM modules, and touch products [3] - The basic earnings per share reported is 0.45 CNY [3]

Group 1 - The core objective of the company is to issue H-shares for listing in Hong Kong, aiming to raise approximately $1 billion (around 7.8 billion HKD) to further its international strategy and enhance its global brand recognition [1][3] - The company plans to discuss the details of the H-share issuance with relevant intermediaries, although specific details have not yet been confirmed [3] - Suzhou Dongshan Precision Manufacturing Co., Ltd. was established in 1998 and has evolved from a small metal stamping factory into a major player in the PCB industry, with product offerings including flexible and rigid PCBs, metal structural components for new energy vehicles, LED backlights, LCM modules, and touch products [3] Group 2 - For the first half of 2025, the company reported a revenue of 16.955 billion CNY, representing a year-on-year growth of 1.96% [3] - The net profit attributable to shareholders for the same period was 758 million CNY, showing a significant year-on-year increase of 35.21% [3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 657 million CNY, reflecting a year-on-year growth of 27.28% [3] - The basic earnings per share for the company stood at 0.45 CNY [3]

9月23日， 东山精密 发布公告称，公司正在筹划境外发行股份（H股）并在香港联交所主板挂牌上市。 这一消息引发市场关注，距离公司实控人低价包揽14亿元定增方案尚不足半年。 资料显示，东山精密主业以 消费电子 与 新能源 两大核心赛道的双轮驱动战略主线，在消费电子业务不 断提质增效的同时，全力拥抱新能源的"新蓝海"。 作为 苹果 供应链的重要企业，东山精密近年面临增收不增利的尴尬局面。2024年，公司营收增长 9.27%至367.70亿元，而净利润却大幅下滑44.74%至10.86亿元。 从财报数据看，东山精密目前面临多重挑战。公司核心业务电子电路产品虽然贡献了超过六成的收入， 但产品单价同比下滑23.48%，毛利率也随之下降2.45个百分点至18.34%。 更令人担忧的是公司的 LED 显示器件业务，该业务收入同比下滑35.48%，毛利率已经低至-40.94%，这 意味着公司是在"亏本销售"。2024年，公司对LED业务相关资产计提了5.95亿元资产减值损失，产生 1.64亿元资产处置损失。 数据显示，2017年至2024年，第一大客户对东山精密的销售比例从29.8%攀升至51.28%。这种依赖性在 供应链波 ...

东山精密（002384.SZ）9月24日在投资者互动平台表示，目前收购进展顺利，核心交易环节已按计划推 进。 （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：收购索尔思的进展如何？ ...