债券代码：128122 债券简称：兴森转债 证券代码：002436 证券简称：兴森科技 公告编号：2025-04-013 深圳市兴森快捷电路科技股份有限公司 关于 2025 年第一季度可转换公司债券转股情况的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： | 股票代码：002436 | | | 股票简称：兴森科技 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 债券代码：128122 | | | 债券简称：兴森转债 | | | | | | | | 转股价格：人民币 | | 13.38 元/股 | | | | | | | | | 转股期限：2021 | 年 | 1 月 | 29 日至 | 2025 | 年 | 7 | 月 | 22 | 日 | 一、可转换公司债券发行上市概况 经中国证券监督管理委员会《关于核准深圳市兴森快捷电路科技股份有限公司公开发行 可转换公司债券的批复》（证监许可[2020]1327 号）核准，公司于 2020 年 7 ...

证券代码：002436 证券简称： 兴森科技 公告编号：2025-03-012 深圳市兴森快捷电路科技股份有限公司 2025 年第一次临时股东大会决议公告 1、深圳市兴森快捷电路科技股份有限公司（以下简称"公司"或"兴森科 技"）2025年第一次临时股东大会以现场会议和网络投票相结合的方式召开，其 中现场会议于2025年3月31日14:30在广州市黄埔区科学城光谱中路33号子公司 广州兴森快捷电路科技有限公司一楼会议室召开；通过深圳证券交易所交易系统 进行网络投票的时间为2025年3月31日的交易时间，即9:15—9:25，9:30—11:30 和13:00—15:00；通过深圳证券交易所互联网投票系统进行投票的时间为2025年 3月31日9:15至2025年3月31日15:00的任意时间。本次股东大会由公司董事会召 集，董事长邱醒亚先生主持。本次会议的召集和召开程序符合有关法律、行政法 规、部门规章、规范性文件和《公司章程》的规定。 2、出席本次股东大会的股东共计827人，代表股份270,329,675股，占公司 总股份的15.9996％。 1 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没 ...

观韬律师事务所 GUANTAO LAW FIRM Tel：8675525980899 Fax：8675525980259 E-mail：guantaosz@guantao.com http://www.guantao.com 深圳市福田区金田路皇岗商务中心 1 号楼 56 楼 邮编：518048 56/Floor, Tower 1, Excellence Century Center, Jintian Road, Futian District, Shenzhen 518048， P.R.China 北京观韬（深圳）律师事务所 关于深圳市兴森快捷电路科技股份有限公司 2025年第一次临时股东大会的法律意见书 北京观韬（深圳）律师事务所 法律意见书 观意字2025SZ000011号 致：深圳市兴森快捷电路科技股份有限公司 北京观韬（深圳）律师事务所（以下简称"本所"）接受深圳市兴森快捷电 路科技股份有限公司（以下简称"兴森科技"或"公司"）的委托，指派律师列 席兴森科技于2025年3月31日召开的2025年第一次临时股东大会（以下简称"本 次股东大会"），并依据《中华人民共和国公司法》（以下简称"《公司法》"） ...

Investment Rating - The report gives a "Buy" rating for the company, recommending it for investment based on its growth potential in the PCB and semiconductor sectors [4]. Core Insights - The company is a leading player in the PCB industry, benefiting from the dual drivers of AI development and domestic substitution of storage chips. Its IC substrate business is expected to achieve breakthroughs [4]. - The company has seen a steady increase in revenue from IC packaging substrates, which accounted for 15.32% of total revenue by 2023, reflecting a growing focus on this segment [23][4]. - The global AI chip market is projected to grow significantly, with a compound annual growth rate (CAGR) of 36.6% from 2024 to 2033, which will drive demand for ABF substrates [41][3]. - The domestic storage chip market is also expected to grow, with a CAGR of 12.1% from 2024 to 2034, further boosting the demand for BT substrates [44][3]. Summary by Sections Company Overview - The company, Shenzhen Xingsen Quick Circuit Technology Co., Ltd., specializes in the PCB industry and semiconductor testing boards, recognized as a national high-tech enterprise [5][14]. - It ranks 29th among the top 40 global PCB suppliers according to Prismark [14]. Financial Performance - For the first three quarters of 2024, the company reported revenue of 4.351 billion yuan, a year-on-year increase of 9.1%, but a net loss of 32 million yuan, a decrease of 116.59% compared to the previous year [29][4]. - The company has been increasing its R&D investment, with R&D expenses reaching 492 million yuan in 2023, up 28.46% year-on-year, primarily for IC packaging substrate projects [33][4]. Market Trends - The PCB industry is expected to grow at a CAGR of 5.4% from 2023 to 2028, driven by demand from sectors like AI servers and smart electric vehicles [19][3]. - The report highlights the importance of IC substrates in connecting chips to PCBs, emphasizing their critical role in the semiconductor supply chain [37][3]. Future Projections - Revenue growth is projected at 16.32%, 23.34%, and 25.66% for 2024, 2025, and 2026, respectively, with net profits expected to turn positive by 2025 [4][49]. - The company is positioned to benefit from the increasing demand for high-performance chips and the ongoing trend of domestic substitution in the semiconductor market [4][3].

Investment Rating - The report initiates coverage with a "Buy" rating for the company [4] Core Insights - The company is a leading player in the PCB industry, benefiting from the dual drivers of AI development and domestic substitution of storage chips, with significant growth potential in its IC substrate business [4][49] - The company has a stable shareholding structure and clear division of labor among its subsidiaries, enhancing operational efficiency [1][16] - The revenue growth forecast for the company is projected at 16.32%, 23.34%, and 25.66% for the years 2024 to 2026, respectively [4][49] Summary by Sections Company Overview - The company, Shenzhen Xingsen Quick Circuit Technology Co., Ltd., specializes in the PCB industry and semiconductor testing boards, recognized as a national high-tech enterprise [5][14] - It ranks 29th among the top 40 global PCB suppliers according to Prismark [1][14] Business Segments - The company focuses on two core areas: PCB and semiconductor, with a growing revenue share from IC packaging substrates, which accounted for 15.32% of total revenue by 2023 [1][23] - The PCB business maintains over 75% of total revenue, with a stable gross margin historically [27][29] Market Trends - The rapid growth of the AI chip market and the acceleration of domestic storage chip substitution are expected to drive demand for IC substrates [3][41] - The global AI chip market is projected to grow from $14.4 billion in 2024 to $238.67 billion by 2033, with a compound annual growth rate (CAGR) of 36.6% [3][41] - The storage chip market is also expected to grow significantly, with China's market projected to reach $27.65 billion by 2034, growing at a rate of 12.4% [3][44] Financial Performance - For the first three quarters of 2024, the company reported revenue of 4.351 billion yuan, a year-on-year increase of 9.1%, but a net loss of 32 million yuan, a decrease of 116.59% year-on-year [2][29] - R&D expenses have been increasing, reaching 492 million yuan in 2023, up 28.46% year-on-year, primarily to support the IC packaging substrate project [2][33] Future Outlook - The company is expected to achieve a turnaround in profitability by 2025, with projected net profits of 141 million yuan and 401 million yuan in 2026 [4][49] - The IC substrate business is anticipated to make significant breakthroughs, supported by ongoing investments and market demand [4][49]

Investment Rating - The report gives a "Buy" rating for the company, indicating a positive outlook for its future performance [4]. Core Insights - The company is a leading player in the PCB industry, benefiting from the dual drivers of AI development and domestic substitution in the storage chip market [4][49]. - The company's revenue growth is projected to be 16.32%, 23.34%, and 25.66% for the years 2024, 2025, and 2026 respectively, with net profits expected to improve significantly after a loss in 2024 [4][49]. Summary by Sections Company Overview - The company, Shenzhen Xingsen Quick Circuit Technology Co., Ltd., specializes in the PCB industry and semiconductor testing boards, recognized as a national high-tech enterprise [5][14]. - It ranks 29th among the top 40 global PCB suppliers according to Prismark [14]. Business Segments - The company focuses on two core areas: PCB and semiconductor, with a growing revenue share from IC packaging substrates, which accounted for 15.32% of total revenue by 2023 [23][4]. - The PCB business maintains over 75% of total revenue, while the IC packaging substrate segment is expected to achieve breakthroughs due to increased investment [2][4]. Market Trends - The rapid growth of the AI chip market and the acceleration of domestic storage chip substitution are anticipated to drive demand for IC substrates [3][41]. - The global AI chip market is projected to grow from $14.4 billion in 2024 to $238.67 billion by 2033, with a compound annual growth rate (CAGR) of 36.6% [3][41]. Financial Performance - For the first three quarters of 2024, the company reported revenue of 4.351 billion yuan, a year-on-year increase of 9.1%, but a net loss of 32 million yuan, a decrease of 116.59% compared to the previous year [2][29]. - R&D expenses have been increasing, reaching 492 million yuan in 2023, up 28.46% year-on-year, primarily to support the IC packaging substrate projects [2][33]. Future Outlook - The company is expected to see significant revenue growth driven by the AI sector and domestic market demands, with a forecasted recovery in net profits starting in 2025 [4][49]. - The investment in R&D and the expansion of production capacity are crucial for the company's future success in the competitive PCB and semiconductor markets [33][41].

证券代码：002436 证券简称： 兴森科技 公告编号：2025-03-009 深圳市兴森快捷电路科技股份有限公司 关于使用闲置自有资金购买理财产品的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 深圳市兴森快捷电路科技股份有限公司（以下简称"公司"）于 2025 年 3 月 14 日召开 的第七届董事会第六次会议审议通过了《关于使用闲置自有资金购买理财产品的议案》，同 意公司及子公司使用不超过人民币 55,000 万元的闲置自有资金购买理财产品，具体情况如 下： 一、使用闲置自有资金购买理财产品情况 1、投资目的 不超过人民币 55,000 万元购买理财产品，上述额度在有效期内可循环使用，期限内任 一时点的交易金额（含前述投资的收益进行再投资的相关金额）不应超过投资额度。 3、投资品种 安全性高、流动性好的低风险、短期（一般不超过一年）的投资产品，不涉及高风险 投资。 4、资金来源 闲置自有资金。 5、额度有效期 在保证公司及子公司正常经营和资金安全的情况下，提高闲置自有资金使用效率，合理 利用闲置自有资金，获取投资收益。 2、投资额度 自本次董事会审 ...

证券代码：002436 证券简称： 兴森科技 公告编号：2025-03-007 深圳市兴森快捷电路科技股份有限公司 关于预计担保额度的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 深圳市兴森快捷电路科技股份有限公司（以下简称"公司"）于 2025 年 3 月 14 日召开的第七届董事会第六次会议，审议通过了《关于预计担保额度的议案》， 现将有关事项公告如下： 一、预计担保额度事项 （一）公司为子公司提供担保额度事项 为支持子公司融资需要，同意公司为子公司向提供担保，本次新增担保额度合 计不超过人民币51.00亿元（或等值外币），具体担保对象及预计额度如下： | | | | | 被担保方最近 | 截 至 目 | 本次新增 | 担保额度占 | 是否 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 序 | 担保方 | 被担保方 | 担保方持 | 一期资产负债 | 前 担 保 | 担保额度 | 公司最近一 | 关联 | | 号 | | | 股比例 | 率 | 余额(亿 | （亿元） | 期 ...

证券代码：002436 证券简称：兴森科技 公告编号：2025-03-011 深圳市兴森快捷电路科技股份有限公司 关于副总经理辞职的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 深圳市兴森快捷电路科技股份有限公司（以下简称"公司"）董事会于近日 收到公司副总经理刘湘龙先生递交的辞职报告。刘湘龙先生因个人原因申请辞去 公司副总经理职务，辞职后不再担任公司任何职务。 根据《公司法》《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》《公司章程》等相关规定，刘湘龙先生的辞职报告自送达董事 会之日起生效，刘湘龙先生所负责的工作已全部完成交接，其辞职不会对公司生 产经营产生影响。 截至本公告披露日，刘湘龙先生未持有公司股份。 刘湘龙先生在担任公司副总经理期间恪尽职守、勤勉尽责，公司及董事会对 刘湘龙先生在担任副总经理期间为公司发展所做的贡献表示衷心感谢！ 特此公告。 深圳市兴森快捷电路科技股份有限公司 董事会 二〇二五年三月十四日 ...

证券代码：002436 证券简称： 兴森科技 公告编号：2025-03-008 深圳市兴森快捷电路科技股份有限公司 关于开展外汇衍生品交易业务的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 深圳市兴森快捷电路科技股份有限公司（以下简称"公司"）及子公司拟结合实际 业务需要开展以套期保值为目的的外汇衍生品交易业务。现将有关事项公告如下： 一、投资情况概述 1、投资目的 在保证公司及子公司正常经营资金需要的情况下，提高公司及子公司应对外汇波动 风险的能力，更好地规避和防范公司所面临的汇率、利率波动风险，合理降低财务费用， 增强公司财务稳健性，维护公司和全体股东利益。 2、交易额度 总额度不超过7,000万美元（或等值外币），上述额度在期限内可以循环使用。 有效期内，公司及合并报表范围内的子公司开展外汇衍生品交易业务任一时点交易 金额不超过7,000万美元（或等值外币），预计动用的交易保证金和权利金上限为1,000 万美元（或等值外币）。 3、投资业务品种 包括但不限于外汇远期、外汇掉期、外汇期权、交叉货币掉期、交叉利率掉期等外 汇衍生品交易品种，均为与公司 ...