Group 1 - The storage chip sector experienced a decline of 1.49%, ranking among the top losers in the concept sector, with companies like C Yitang, Youfang Technology, and Chengbang Co., Ltd. showing significant drops [1][4] - Among the 91 stocks in the storage chip sector, 15 stocks saw price increases, with Shengshi Technology, Bomin Electronics, and Hangzhou Kelin leading the gains at 3.71%, 2.43%, and 2.39% respectively [1][4] - The concept sectors with the highest gains included childcare services at 1.82%, short drama games at 1.25%, and trust concepts at 1.22% [1] Group 2 - The storage chip sector saw a net outflow of 3.468 billion yuan, with Bomin Electronics leading the outflow at 231.41 million yuan, followed by Xingsen Technology and Zhongjing Electronics with outflows of 226.51 million yuan and 181.77 million yuan respectively [1][4] - The stocks with the highest net inflows included Shengshi Technology, Taiji Industry, and Saiteng Co., Ltd., with inflows of 35.06 million yuan, 24.83 million yuan, and 15.70 million yuan respectively [1][4] - The trading volume for Bomin Electronics was 28.62%, indicating a high turnover rate despite the net outflow [2][4]

证券代码：002436 证券简称： 兴森科技 公告编号：2025-07-039 深圳市兴森快捷电路科技股份有限公司 关于购买子公司广州兴科半导体有限公司 24%股权的进展公告 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， 大基金持有的广州兴科 24%股权 3、转让价款 人民币 31,998.7727 万元 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"或"兴森科技"） 于 2025 年 6 月 11 日召开第七届董事会第八次会议，审议通过了《关于拟参与购 买子公司广州兴科半导体有限公司 24%股权的议案》，同意公司以挂牌底价 31,998.7727 万元进场参与购买子公司广州兴科半导体有限公司（以下简称"广 州兴科"）少数股东国家集成电路产业投资基金股份有限公司（以下简称"大基 金"）持有的广州兴科 24%股权（以下简称"标的股权"）。详见公司于 2025 年 6 月 12 日披露的《关于拟参与购买子公司广州兴科半导体有限公司 24%股权 的公告》（2025-06-033）。现将进展情况公告如下： 一、本次交易进展情况 根据深圳联合产权交易所公开挂牌相 ...

Core Viewpoint - The article highlights the growth and competitive positioning of the company, Xingsen Technology, in the advanced electronic circuit solutions industry, focusing on its PCB and semiconductor businesses [2][3]. Group 1: Business Overview - Xingsen Technology specializes in advanced electronic circuit solutions, with its PCB and semiconductor businesses driving growth [2]. - The traditional PCB business focuses on rapid prototyping and mass production, emphasizing digital transformation across the entire process from design to supply chain [2]. - In the high-end PCB sector, the company is expanding its offerings in Anylayer HDI boards and SLP products, targeting high-end smartphone and communication markets [2]. Group 2: Market Position - Xingsen Technology maintains a leading position in the PCB industry, ranking 14th among comprehensive PCB companies and 7th among domestic PCB companies according to CPCA [3]. - The company is ranked 30th among the top 40 global PCB suppliers as per Prismark's report for 2024 [3]. Group 3: Growth Potential - The CSP packaging substrate business is focusing on storage and RF markets, with plans to expand into the automotive sector, enhancing product structure towards high-value, high-price products [4]. - The company is experiencing a recovery in the storage chip industry, leading to improved capacity utilization in its CSP packaging substrate business [4]. Group 4: Financial Performance - In 2024, the company achieved revenue of 5.817 billion yuan, a year-on-year increase of 8.53%, while reporting a net loss of 198 million yuan [5]. - In Q1 2025, the company generated revenue of 1.580 billion yuan, reflecting a year-on-year growth of 13.77%, but the net profit decreased by 62.24% to 9 million yuan [5].

债券代码：128122 债券简称：兴森转债 一、可转换公司债券发行上市概况 证券代码：002436 证券简称：兴森科技 公告编号：2025-07-038 深圳市兴森快捷电路科技股份有限公司 关于 2025 年第二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 | | 13.35 元/股 | | | | 转股期限：2021 | 年 | 1 月 | 29 日至 2025 年 7 月 22 | 日 | 根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 15 号——可转换公司债券》的有关规定，深圳市兴森快捷电路科技股份有限公司（以下简称"公 司"）现将 2025 年第二季度可转换公司债券转股及公司股份变动情况公告如下： 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 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for long-term growth potential [4][6]. Core Insights - The company, Xingsen Technology, focuses on advanced electronic circuit solutions, with its PCB and semiconductor businesses driving growth. The traditional PCB business emphasizes rapid prototyping and mass production, while the semiconductor segment concentrates on IC packaging substrates [2][3]. - The company has achieved continuous revenue growth, with a reported revenue of 5.817 billion yuan in 2024, representing an 8.53% year-on-year increase. However, it faced a net loss of 198 million yuan [4]. Summary by Sections Business Overview - Xingsen Technology specializes in advanced electronic circuit solutions, with a focus on PCB and semiconductor sectors. The company is enhancing its PCB factory's digital transformation to improve operational efficiency and customer satisfaction [2]. - The company is expanding its high-end PCB offerings, including Anylayer HDI boards and SLP products, while also targeting high-end optical modules and millimeter-wave communication markets [2][3]. Market Position - Xingsen Technology maintains a leading position in the PCB industry, ranking 14th among comprehensive PCB companies in China and 7th among domestic firms according to CPCA. It is also ranked 30th among the top 40 global PCB suppliers by Prismark [3]. Financial Performance - In 2024, the company reported a revenue of 5.817 billion yuan, an increase of 8.53% from the previous year. The first quarter of 2025 saw a revenue of 1.580 billion yuan, reflecting a 13.77% year-on-year growth [4]. - The forecast for net profit has been adjusted downward for 2025 and 2026 due to industry demand issues, with projected net profits of 112 million yuan and 271 million yuan, respectively [4]. Growth Potential - The CSP packaging substrate business is expected to have significant growth potential, focusing on storage and RF markets while expanding into the automotive sector. The company aims to enhance profitability through a shift towards high-value products [3][4].

Core Viewpoint - The credit rating report indicates that Shenzhen Xingsen Quick Circuit Technology Co., Ltd. (referred to as "Xingsen Technology") maintains a stable credit rating of AA, reflecting its leading position in the domestic PCB prototype and small batch board sector, despite facing significant financial challenges due to high upfront costs in semiconductor projects and slow order integration [2][4][5]. Company Overview - Xingsen Technology is recognized as one of the few domestic manufacturers capable of mass production of FCBGA packaging substrates, maintaining a technological edge in the industry [2][17]. - The company has a diversified product application across various sectors, including communication, industrial control, medical electronics, and consumer electronics, with a stable customer base [4][17]. Financial Performance - The company reported total assets of 145.69 billion and total liabilities of 59.44 billion as of March 2025, with operating revenue of 15.80 billion for the year [2]. - The net profit for 2024 was a loss of 5.31 billion, reflecting the impact of high costs associated with semiconductor projects and insufficient order volume [3][5]. - The company's debt-to-equity ratio increased, indicating rising financial leverage and debt repayment pressure [5][19]. Industry Environment - The PCB market is expected to recover in 2024, driven by demand from AI servers and consumer electronics, with a projected global market value of 73.6 billion, representing a 5.8% year-on-year growth [11][12]. - The domestic PCB market in China is anticipated to grow from 41.2 billion to 50.8 billion from 2024 to 2029, with a compound annual growth rate of 4.3% [11][12]. - The industry faces challenges such as high raw material costs and competitive pressures, which may impact profit margins [15][19]. Competitive Position - Xingsen Technology ranks seventh among domestic PCB manufacturers according to the CPCA, showcasing its competitive strength [17]. - The company has invested significantly in R&D, with 4.42 billion allocated in 2024, and has received national awards for its technological advancements [18][19]. - Despite the competitive landscape, Xingsen Technology's PCB business saw a revenue increase of 5.11% in 2024, primarily due to recovery in the consumer electronics sector [19].

2020 年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 2025 年跟踪评级报告 中鹏信评【2025】跟踪第【351】号 01 信用评级报告声明 除因本次评级事项本评级机构与评级对象构成委托关系外，本评级机构及评级从业人员与评级对象不存 在任何足以影响评级行为独立、客观、公正的关联关系。 本评级机构与评级从业人员已履行尽职调查义务，有充分理由保证所出具的评级报告遵循了真实、客观、 公正原则，但不对评级对象及其相关方提供或已正式对外公布信息的合法性、真实性、准确性和完整性 作任何保证。 本评级机构依据内部信用评级标准和工作程序对评级结果作出独立判断，不受任何组织或个人的影响。 本评级报告观点仅为本评级机构对评级对象信用状况的个体意见，不作为购买、出售、持有任何证券的 建议。本评级机构不对任何机构或个人因使用本评级报告及评级结果而导致的任何损失负责。 本次评级结果自本评级报告所注明日期起生效，有效期为被评证券的存续期。同时，本评级机构已对受 评对象的跟踪评级事项做出了明确安排，并有权在被评证券存续期间变更信用评级。本评级机构提醒报 告使用者应及时登陆本公司网站关注被评证券信用评级的变化情况。 本 ...

深圳市兴森快捷电路科技股份有限公司 关于提前归还用于暂时补充流动资金的募集资金的公告 证券代码：002436 证券简称： 兴森科技 公告编号：2025-06-037 特此公告。 深圳市兴森快捷电路科技股份有限公司 董事会 二〇二五年六月二十四日 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 2024 年 9 月 6 日召开了第 七届董事会第四次会议、第七届监事会第三次会议，均审议通过了《关于使用部分闲置募集 资金暂时补充流动资金的议案》，同意公司在保证募投项目资金需求及在募集资金投资计划正 常进行的前提下，使用不超过人民币 4.75 亿元的闲置募集资金暂时补充流动资金，用于主营 业务相关的日常生产经营活动，使用期限自董事会审议通过之日起不超过 12 个月，到期将归 还至公司募集资金专户。详见公司于 2024 年 9 月 7 日披露的《关于使用部分闲置募集资金暂 时补充流动资金的公告》（公告编号：2024-09-060）。 根据上述决议，公司实际使用了 4.75 亿元闲置募集资金用于暂时补充流动资金。公 ...

债券代码：128122 债券简称：兴森转债 深圳市兴森快捷电路科技股份有限公司 关于"兴森转债"即将到期及停止交易的第三次提示性公告 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： 1、"兴森转债"到期日：2025 年 7 月 22 日 2、"兴森转债"到期兑付价格：110 元人民币/张（含税及最后一期利息） 3、"兴森转债"最后交易日：2025 年 7 月 17 日 4、"兴森转债"停止交易日：2025 年 7 月 18 日 5、"兴森转债"最后转股日：2025 年 7 月 22 日 6、截至 2025 年 7 月 22 日收市后仍未转股的"兴森转债"将被强制赎回；本次赎回完成 后，"兴森转债"将在深圳证券交易所摘牌。特此提醒"兴森转债"持有人注意在转股期内转 股。 证券代码：002436 证券简称：兴森科技 公告编号：2025-06-036 根据公司《公开发行可转换公司债券募集说明书》（以下简称"《募集说明书》"）的规定， 公司发行的可转换公司债券转股期自可转换公司债券发行结束之日（2020 年 7 月 29 日）起满 六个月后的第一个交易日起 ...

Core Viewpoint - The announcement informs investors about the upcoming maturity and trading cessation of the "Xingsen Convertible Bonds" and provides details on conversion and redemption options [1][2][3] Group 1: Bond Issuance Overview - The company issued 2.689 million convertible bonds with a total value of 268.90 million yuan, each with a face value of 100 yuan, approved by the China Securities Regulatory Commission on July 23, 2020 [1] - The bonds were listed for trading on August 2020, with a conversion period starting from January 29, 2021, to July 22, 2025 [1] Group 2: Redemption and Payment Plan - Upon maturity, the company will redeem all unconverted bonds at a price of 110 yuan per bond, which includes a 10% premium and the last interest payment [2] - The last trading day for the bonds will be July 17, 2025, with trading ceasing on July 18, 2025 [2] Group 3: Trading Cessation and Conversion - Bondholders can still convert their bonds into company stock at a conversion price of 13.35 yuan per share until the end of the conversion period on July 22, 2025 [2][3] - The company will publish related announcements regarding the bond's maturity and delisting on the designated information disclosure platforms [3]