Group 1 - The core point of the news is that Aoshikan's stock price dropped by 5.02% to 37.50 CNY per share, with a trading volume of 141 million CNY and a turnover rate of 1.20%, resulting in a total market capitalization of 11.901 billion CNY [1] - Aoshikan Technology Co., Ltd. is located in Shenzhen, Guangdong Province, and was established on May 21, 2008, with its listing date on December 1, 2017. The company specializes in the research, production, and sales of high-density printed circuit boards [1] - The main business revenue composition of Aoshikan includes: 75.36% from four-layer and above boards, 16.24% from single/double-sided boards, and 8.40% from other supplementary products [1] Group 2 - From the perspective of major holdings in funds, one fund under China Europe Fund has a significant position in Aoshikan. The China Europe Small Cap Growth Mixed A Fund (015880) held 99,600 shares in the second quarter, accounting for 0.57% of the fund's net value, making it the fifth-largest holding [2] - The China Europe Small Cap Growth Mixed A Fund (015880) was established on June 28, 2022, with a latest scale of 199 million CNY. Year-to-date returns are 45.85%, ranking 837 out of 8180 in its category; the one-year return is 98%, ranking 360 out of 7978; and since inception, the return is 50.42% [2] - The fund managers of the China Europe Small Cap Growth Mixed A Fund are Qian Yating and Tang Minwei, with Qian Yating having a tenure of 3 years and 307 days and a total fund asset size of 2.377 billion CNY, achieving a best return of 54.89% during her tenure [2]

Group 1 - The company, Aoshikang, announced a share buyback plan, intending to repurchase 2,888,300 shares through a centralized bidding transaction [2] - The repurchased shares represent 0.9101% of the company's total share capital as of the announcement date [2]

Core Viewpoint - Aoshikang (002913.SZ) announced a share buyback program, repurchasing 2,888,300 shares, which represents 0.9101% of the company's total share capital, with a total transaction amount of 90.0397 million yuan [1] Summary by Relevant Categories Share Buyback Details - The company repurchased shares through a dedicated securities account via centralized bidding [1] - The highest transaction price was 39.52 yuan per share, while the lowest was 24.64 yuan per share [1] - The total amount spent on the buyback was 90.0397 million yuan, excluding transaction fees [1]

证券代码：002913 证券简称：奥士康 公告编号：2025-061 奥士康科技股份有限公司（以下简称"公司"）于 2025 年 4 月 10 日召开第四届董 事会第四次会议，审议通过《关于回购公司股份方案的议案》，同意公司使用自有资金 或自筹资金人民币 9,000 万元（含）-1.8 亿元（含），通过深圳证券交易所股票交易系统 以集中竞价交易方式回购公司发行的人民币普通股（A 股），回购股份将用于股权激励 或员工持股计划，回购价格不超过 40 元/股，回购期限自董事会审议通过回购股份方案 之日起不超过 12 个月。因公司实施 2024 年年度权益分派，公司回购股份价格上限由不 超过 40 元/股调整至 39.4 元/股。公司于 2025 年 8 月 11 日召开第四届董事会第八次会议， 审议通过了《关于调整回购股份价格上限的议案》，同意公司回购股份价格上限由 39.4 元/股（含）调整为 53.35 元/股（含）。具体内容详见公司披露于巨潮资讯网 （www.cninfo.com.cn）的相关公告。 奥士康科技股份有限公司 关于回购公司股份进展的公告 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， ...

Summary of Key Points Core Viewpoint - A total of 18 companies have raised their share repurchase price limits since July, reflecting an improvement in market conditions and increased investor confidence, with some companies raising their repurchase prices by over 140% [1][6]. Group 1: Companies Adjusting Repurchase Prices - On August 26, companies such as Jinli Permanent Magnet, Jinchun Co., Toukeng Life, and Kesi Technology announced increases in their share repurchase price limits [1]. - Jinli Permanent Magnet raised its repurchase price limit from 31.06 CNY/share to 42.66 CNY/share, an increase of 37.35% [2]. - Jinchun Co. increased its limit from 17.90 CNY/share to 35 CNY/share, marking a 95.53% rise [2]. - Toukeng Life adjusted its limit from 15.85 CNY/share to 29.34 CNY/share, an 85.11% increase [2]. - Kesi Technology raised its limit from 53.86 CNY/share to 102 CNY/share, an increase of 89.38% [2]. Group 2: Market Trends and Implications - The average increase in repurchase prices among the 18 companies is 61.5% [6]. - The rise in repurchase prices is attributed to two main factors: the recovery of the market and the companies' confidence in their future stability and intrinsic value [4][6]. - Companies are utilizing special loans to support their repurchase plans, as seen with Aoshikang, which secured a loan of up to 162 million CNY for its repurchase [8]. Group 3: Regulatory and Market Environment - The Chinese government has encouraged companies to use repurchase and increase strategies to enhance market stability [8]. - Industry experts suggest that companies should carefully evaluate and dynamically adjust their repurchase plans to ensure effective implementation and bolster market confidence [9].

Investment Rating - The report maintains a "Buy" rating for the company Aoshikang (002913) [5] Core Views - The company achieved a revenue of 2.565 billion yuan in the first half of 2025, representing a year-on-year growth of 19.43%. However, the net profit attributable to shareholders decreased by 11.96% to 196 million yuan [2][3] - The revenue from data centers and servers has further increased, with the company expanding its product matrix to include high-performance PCB products tailored for these applications [3] - The company is significantly increasing its R&D investment across multiple sectors, including servers, AIPC, and automotive electronics, to enhance its competitive edge and drive future growth [4] Financial Performance - For the first half of 2025, the company reported a gross margin of 22.34%, with a slight year-on-year decrease of 0.34 percentage points. In Q2 alone, the revenue was 1.401 billion yuan, showing a year-on-year increase of 19.65% and a quarter-on-quarter increase of 20.33% [3] - The projected revenues for 2025, 2026, and 2027 are 5.52 billion yuan, 6.74 billion yuan, and 8.15 billion yuan, respectively, with net profits expected to be 510 million yuan, 690 million yuan, and 870 million yuan [5][9] - The company’s financial ratios indicate a projected PE ratio decreasing from 34.58 in 2024 to 14.04 in 2027, suggesting improving valuation metrics over time [10][11] Market Position and Strategy - The company is focusing on key technological upgrades in the server sector, including advancements in BGA technology and the development of next-generation server platforms [4] - In the automotive electronics sector, Aoshikang is addressing the growing demand for PCBs driven by the electrification and automation of vehicles, positioning itself as a leader in this emerging market [4]

Group 1 - The core stock price of Aoshikang on August 18 closed at 38.81 yuan, down 0.81 yuan, representing a decline of 2.04% [1] - The trading volume on that day was 87,630 lots, with a transaction amount of 340 million yuan [1] - Aoshikang's main business includes the research, production, and sales of high-density interconnect multilayer boards and flexible multilayer boards, which are widely used in consumer electronics, communication equipment, and automotive electronics [1] Group 2 - On the evening of August 18, Aoshikang announced that the second extraordinary general meeting of shareholders in 2025 approved several proposals, including the proposal regarding the conditions for issuing convertible bonds to unspecified objects [1] - The announcement also indicated that the company and its subsidiaries do not provide guarantees to entities outside the consolidated financial statements, nor do they have overdue guarantees or guarantees involving litigation [1] Group 3 - On August 18, the net outflow of main funds was 5.3556 million yuan, accounting for 0.05% of the circulating market value [1] - Over the past five days, the net inflow of main funds was 86.1569 million yuan, accounting for 0.74% of the circulating market value [1]

Core Viewpoint - Aoshikang announced that as of the date of the announcement, the company and its subsidiaries do not provide guarantees to external units in the consolidated financial statements, nor do they have overdue guarantees or guarantees related to litigation [2] Summary by Categories - **Company Guarantees** - The company confirmed that there are no guarantees provided to external units in the consolidated financial statements [2] - **Legal and Financial Status** - There are no overdue guarantees or guarantees related to any litigation as of the announcement date [2]

Core Viewpoint - Aoshikang announced the convening of its second extraordinary general meeting of shareholders for 2025 on August 18, 2025, where several proposals were approved, including the issuance of convertible bonds to unspecified objects [2] Group 1 - The extraordinary general meeting was held on August 18, 2025 [2] - The meeting approved the proposal regarding the conditions for issuing convertible bonds [2]

证券代码：002913 证券简称：奥士康 公告编号：2025-060 奥士康科技股份有限公司 关于为全资子公司提供担保的进展公告 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。 特别提示： 奥士康科技股份有限公司（以下简称"公司"）全资子公司广东喜珍电路科技有 限公司（以下简称"广东喜珍"）最近一期财务报表资产负债率超过 70%，公司及全 资子公司对外担保金额超过上市公司最近一期经审计净资产 50%，特此提醒投资者充 分关注担保风险。 一、担保情况概述 公司于 2025 年 4 月 23 日召开第四届董事会第五次会议、2025 年 5 月 16 日召开 2024 年年度股东大会审议通过《关于为控股子公司提供担保额度的议案》，同意公司 为合并报表范围内全资、控股子公司提供不超过人民币 81 亿元的担保额度。以上担 保额度自股东大会审议通过之日起 12 个月内有效，并经股东大会授权董事会转授权 公司管理层在符合规定的被担保方之间进行调剂分配。具体内容详见公司披露于巨潮 资讯网（www.cninfo.com.cn）的相关公告。 二、担保进展情况 近日，公司与中信银行 ...