Group 1 - The article emphasizes that the advanced packaging equipment industry is entering a golden era driven by the AI wave and domestic substitution, with significant growth opportunities arising from the demand for advanced packaging technologies [1][8]. - The global advanced packaging market is projected to grow from $46 billion in 2024 to $79.4 billion by 2030, with a compound annual growth rate (CAGR) of 37% for 2.5D/3D packaging technologies from 2023 to 2029 [7][8]. - The Chinese semiconductor packaging equipment market is expected to reach a sales revenue of 28.27 billion yuan in 2024, reflecting an 18.93% year-on-year growth [12]. Group 2 - The article discusses the rapid development of domestic semiconductor packaging equipment manufacturers in China, such as North Huachuang and Shengmei Shanghai, amidst a competitive landscape dominated by international giants [8][9]. - The demand for advanced packaging technologies is driven by the need for high-density integration and improved chip performance, particularly in AI models, data centers, and high-end consumer electronics [7][8]. - The article highlights the evolution of bonding technologies, with a significant shift towards advanced techniques that enhance integration density and performance, such as hybrid bonding and laser debonding [13][16]. Group 3 - The article outlines the critical role of various semiconductor equipment types, including thinning machines, dicing machines, and die bonders, in the advanced packaging process, emphasizing the need for precision and efficiency [27][28]. - It notes that the laser cutting technology is gaining traction due to its advantages in energy efficiency and adaptability to complex packaging requirements, with the global wafer cutting equipment market expected to grow significantly [26]. - The article also mentions the importance of surface functionalization technologies in enhancing the performance of advanced packaging, particularly in applications like chip-on-wafer and fan-out packaging [35][39].

Core Viewpoint - The company, Xingsen Technology, is focusing on the development of IC packaging substrates, which are essential materials for chip packaging, targeting various sectors including CPU, GPU, FPGA, ASIC, and storage chips [2] Group 1: Business Focus - The company is strategically advancing its FCBGA packaging substrate business, with customer expansion proceeding as planned [2] - The CSP packaging substrate business is concentrating on storage and RF markets, while also expanding into the automotive sector [2] Group 2: Product Development - The product structure is gradually shifting towards high value-added and high-priced offerings, particularly in multilayer boards [2]

深圳市兴森快捷电路科技股份有限公司 2025 年第三次临时股东会决议公告 证券代码：002436 证券简称： 兴森科技 公告编号：2025-11-063 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： 1、本次股东会没有出现否决议案的情形。 2、本次股东会不涉及变更前次股东会决议的情形。 一、会议召开和出席情况 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年第三次临时股东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11月17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11月17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11月17日9:15至2025年11月17日15:00的任意时间。本次股东会由公司董事会 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 ...

北京观韬（深圳）律师事务所 本所及经办律师依据《公司法》《证券法》《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定及本法律意 见书出具日以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽 责和诚实信用原则，进行了充分的核查验证，保证本法律意见所认定的事实真实、 准确、完整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或 者重大遗漏，并承担相应法律责任。 关于深圳市兴森快捷电路科技股份有限公司 2025年第三次临时股东会的法律意见书 观意字2025SZ000085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11月17日召开的2025年第三次临时股东会（以下简称"本次 股东会"），并依据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》(以下简称"《证券法》")、中国证券监督管理委员 会《上市公司股东会规则》(以下简称"《股东会规则》")等中国现行法律、法 规和规 ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2025-11-17 | 002436 | 兴森科技 | 19.50 | 13.50 | | 263.25 中国中金财富证券 | 国信证券股份有限 | | | | | | | | 有限公司杭州教工 | 公司杭州体育场路 | | | | | | | | 路班券营业部 | 证券营业部 | 11月17日，兴森科技大宗交易成交13.5万股，成交额263.25万元，占当日总成交额的0.15%，成交价19.5 元，较市场收盘价21.01元折价7.19%。 ...

Group 1 - The optical communication module sector is leading the market with an increase of 2.69% [1] - Tengjing Technology saw a significant rise of 14.55% [1] - Changxin Bochuang increased by 7.23% [1] - Guangku Technology experienced a growth of 5.58% [1] - Companies such as Xingsen Technology, Zhongji Xuchuang, and Xingshuai'er all rose over 4% [1]

每经AI快讯，11月14日，电路板指数盘中出现显著调整，成分股普跌，科翔股份领跌7.08%，方邦股 份、中富电路、东山精密、兴森科技跌幅居前。 （文章来源：每日经济新闻） ...

（文章来源：证券日报） 证券日报网讯兴森科技11月13日在互动平台回答投资者提问时表示，公司信息请以公司披露的公告为 准。 ...

Core Viewpoint - The company is currently in the small batch production phase of its FCBGA packaging substrate project, with market expansion and customer certification progressing as planned [1] Group 1 - The FCBGA packaging substrate's production capacity, technology, and yield are sufficient to meet the demands of existing customers [1]

Core Insights - The PCB industry is experiencing unprecedented growth opportunities driven by the AI wave, with new policies aimed at promoting high-end, green, and intelligent transformation [1] - The demand for AI servers and high-speed networks is significantly boosting the high-end PCB market, with substantial projected growth rates for specific PCB products [1] - The financial performance of PCB companies reflects this market boom, with notable revenue and profit increases across the sector [3][4] Industry Overview - The Ministry of Industry and Information Technology has solicited opinions on a draft regulation to eliminate outdated capacity and encourage technological innovation in the PCB industry [1] - According to Prismark, the market for 18-layer and above high multilayer boards and HDI boards is expected to grow by 40.3% and 18.8% year-on-year in 2024, respectively [1] - The annual compound growth rate for AI server-related HDI from 2023 to 2028 is projected to be 16.3%, marking it as the fastest-growing segment in the AI server PCB market [1] Company Performance - A total of 44 listed PCB companies in A-shares reported a combined revenue of 216.19 billion yuan, a year-on-year increase of 25.36%, and a net profit of 20.86 billion yuan, with a growth rate of 62.15% [3] - Over 75% of these companies reported a year-on-year increase in net profit, with four companies successfully turning losses into profits [3] - Leading company Shengyi Technology saw a remarkable revenue increase of 114.79% and a net profit surge of 497.61% in the first three quarters [3] - Another company, Xingsen Technology, reported over 23% revenue growth and is expanding its production capacity [3] Capital Market Interest - As of the end of Q3, 13 PCB concept stocks were heavily held by QFII, with a total market value of 16.635 billion yuan [4] - Shengyi Technology had a QFII holding ratio of 12.32%, with a market value of 15.936 billion yuan, indicating strong foreign investor confidence [4] - Other companies like Jingwang Electronics and Junya Technology also attracted QFII investments, with notable foreign institutions among their top shareholders [4]