Core Viewpoint - The article emphasizes the increasing demand for ABF (Ajinomoto Build-up Film) substrates driven by advancements in AI, high-performance computing, and other technologies, predicting a supply-demand gap that will worsen over the coming years, with a projected gap of 10% by the second half of 2026 and potentially reaching 42% by 2028 [2][3]. Group 1: ABF Film Overview - ABF film is a critical insulating material used in semiconductor packaging, developed by Ajinomoto, and is essential for high-density interconnections in advanced microprocessors [8][10]. - The film consists of three layers: a supporting medium (PET), ABF resin, and a protective film, with the resin's components significantly affecting its dielectric and thermal properties [10][12]. Group 2: Market Analysis - The global IC packaging substrate market is projected to grow from approximately 96.1 billion yuan in 2024 to 135.0 billion yuan by 2028, with a compound annual growth rate (CAGR) of 8.8% [31]. - The demand for ABF substrates is primarily driven by high-performance computing, 5G communication, and automotive electronics, with the latter two being the fastest-growing markets [27][41]. Group 3: Competitive Landscape - Ajinomoto dominates the ABF film market with over 95% market share, creating a significant barrier for new entrants due to its extensive patent portfolio and established customer relationships [46][48]. - Other companies attempting to enter the market include a few Japanese firms and some Chinese companies, but they lack the market influence of Ajinomoto [46][48]. Group 4: Future Directions and Investment Logic - The article suggests that the ongoing technological upgrades and the shift in demand structure towards AI applications will create long-term growth opportunities in the ABF film market [2][3]. - The need for domestic production of ABF materials in China is highlighted as a strategic move to mitigate supply chain risks and capitalize on the growing market demand [3].

Core Insights - The main focus of the news is on the top 20 stocks with significant capital inflow as of February 6, highlighting their respective amounts and performance in terms of percentage change. Group 1: Capital Inflow - The stock with the highest capital inflow is Wuzhou Xinchun, attracting 1.22 billion yuan [1] - Data Port follows closely with an inflow of 1.078 billion yuan [1] - Tianji Co. has an inflow of 1.065 billion yuan, marking a strong performance [1] Group 2: Stock Performance - Wuzhou Xinchun shows a price increase of 10.01% [2] - Data Port has a price increase of 10% [2] - Tianji Co. reports a price increase of 9.99% [2] Group 3: Industry Breakdown - Wuzhou Xinchun belongs to the General Equipment sector [2] - Data Port is categorized under Internet Services [2] - Tianji Co. is part of the Battery industry [2] Group 4: Additional Stocks - Hunan Gold has a capital inflow of 883 million yuan with a price increase of 9.94% [1][2] - Shanshan Co. sees an inflow of 726 million yuan and a price increase of 10.03% [1][2] - Galaxy Electronics has an inflow of 672 million yuan with a price increase of 10.06% [1][2] Group 5: Other Notable Stocks - The stock with the lowest inflow in the top 20 is Sanhua Intelligent Control, with an inflow of 481 million yuan and a price increase of 2.06% [3] - Other notable stocks include Northern Rare Earth with an inflow of 495 million yuan and a price increase of 3.73% [3] - Fenghuo Communication has an inflow of 493 million yuan with a price increase of 5.58% [3]

Group 1 - The top 20 stocks with significant capital inflow as of February 6 include Wuzhou Xinchun (1.12 billion), Tianji Co. (1 billion), and Data Port (973 million) [1] - Wuzhou Xinchun saw a price increase of 10.01%, while Tianji Co. and Data Port both increased by 9.99% and 10% respectively [2] - Other notable stocks include Hunan Gold (10% increase, 793 million), and Shennan Circuit (10% increase, 701 million) [2][3] Group 2 - The electronics sector is represented by companies like Shennan Circuit, Shanshan Co., and Shenghong Technology, with inflows of 701 million, 689 million, and 633 million respectively [2][3] - The battery industry includes significant players such as Ningde Times (2.54% increase, 625 million) and Enjie Co. (10% increase, 496 million) [2][3] - Chemical products sector features companies like Yongtai Technology (10.02% increase, 477 million) and Duofluor (7.7% increase, 451 million) [3]

深南电路涨停，中富电路涨超10%，胜宏科技、鹏鼎控股、富佳股份、生益电子、方正科技等跟涨。 (本文来自第一财经) 深南电路涨停，中富电路涨超10%，胜宏科技、鹏鼎控股、富佳股份、生益电子、方正科技等跟涨。 (本文来自第一财经) ...

Market Overview - The A-share market showed mixed performance with the Shanghai Composite Index up by 0.11%, the Shenzhen Component Index up by 0.65%, and the ChiNext Index also up by 0.65% as of midday [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.38 trillion yuan, a decrease of 63.3 billion yuan compared to the previous trading day, with over 3,800 stocks rising [2] Sector Performance - Active sectors included lithium batteries, energy metals, humanoid robots, and fintech, while traditional sectors like liquor, retail, and AI application stocks weakened [1] - The Chinese medicine and chemical sectors showed notable gains, with the Chinese medicine sector rising by 2.52% [2][7] - The small metals sector rebounded, with stocks like Xianglu Tungsten and Zhangyuan Tungsten hitting the daily limit [7] Notable Stocks - Mingdiao Co. experienced significant trading activity, achieving a "limit-up" with nearly 700 million yuan in transactions and marking its fifth consecutive trading day of gains [3] - Jiangfeng Electronics saw a slight increase of 0.09% after announcing plans to acquire control of Kaide Quartz [9] Economic Indicators - The industrial development plan for traditional Chinese medicine aims for a collaborative development system by 2030, which may positively impact the sector [7]

Group 1 - The Digital Economy ETF (工银561220) opened at 1.480 yuan, experiencing a decline of 0.47% [1] - Major holdings in the ETF include companies like SMIC, which fell by 1.48%, and Haiguang Information, which dropped by 1.00% [1] - The ETF's performance benchmark is the China Securities Index for State-Owned Enterprises in the Digital Economy, managed by ICBC Credit Suisse Asset Management [1] Group 2 - Since its inception on May 21, 2025, the ETF has achieved a return of 48.72%, with a monthly return of 0.79% [1]

Core Viewpoint - The company expects a significant increase in annual performance for 2025, with net profit attributable to shareholders projected to be between 3.15 billion to 3.34 billion, representing a year-on-year growth of 68.0% to 78.0% [1] Group 1: Financial Performance - For Q4, the company anticipates a net profit of 920 million, reflecting a year-on-year increase of 136.2% but a quarter-on-quarter decline of 4.5% [1] - The full-year performance is driven by the company's ability to capitalize on three major growth opportunities: AI computing power upgrades, increased storage market demand, and the electrification and intelligence of automobiles [1] - The company has enhanced its operational management capabilities through digital transformation and smart manufacturing upgrades, contributing to revenue and profit growth [1] Group 2: Business Trends - The demand for overseas AI computing power is robust, and the new production capacity is expected to quickly reach breakeven, contributing to flexible profits [2] - Domestic computing power is projected to experience significant growth in 2026, with the company positioned as a key player in the domestic PCB supply chain [2] - The high demand for substrate boards is leading to continuous price increases, with full capacity utilization and significant profit improvements [2] - The company is well-positioned in the future AI PCB technology upgrade path, with strong technical capabilities and production experience [2] Group 3: Future Outlook - The company is expanding its AI computing capacity, with new production facilities in Nantong, Thailand, and Wuxi expected to gradually come online between 2026 and 2027, opening up long-term growth potential [3]

Group 1 - The company, Shenzhen Sannuo Circuit (002916.SZ), has indicated in investor relations that it is planning to utilize a new land plot in Wuxi for PCB business-related products [1] - The land is designated for the storage of products related to the computing power of PCB business, with investments expected to be phased [1] - Specific investment amounts will be determined based on business development and market conditions [1]

Group 1 - The company aims to capitalize on three growth opportunities by 2025: AI computing power upgrades, increasing demand in the storage market, and the electrification and intelligence of automobiles [1] - The company plans to enhance market development efforts and improve market competitiveness to optimize product structure [1] - The company is committed to advancing digital transformation and smart manufacturing upgrades to enhance operational management capabilities, which will contribute to revenue and profit growth [1] Group 2 - The company expects to achieve a net profit attributable to shareholders of 3.15 billion to 3.34 billion yuan by 2025, representing a year-on-year growth of 68% to 78% [1]

证券代码：002916 证券简称：深南电路 深南电路股份有限公司投资者关系活动记录表 编号：2026-02 投资者关系 活动类别 √特定对象调研 □分析师会议 □现场参观 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □其他 （ ） 活动参与人 员（排名不 分先后） 国金证券、中国人寿资管 上市公司 接待人员 战略发展部总监、证券事务代表：谢丹；证券事务主管：阳佩琴 时间 2026 年 2 月 4 日 地点 公司会议室 形式 实地调研 投资者关系 活动主要内 容介绍 交流主要内容： Q1、请介绍公司 2025 年业绩预增情况。 2025 年，公司把握 AI 算力升级、存储市场需求增长、汽车电动智能化三大增长机 遇，通过强化市场开发力度、提升市场竞争力，推动产品结构优化。同时，深入推进数字 化转型与智能制造升级，提升运营管理能力，助益公司营收规模和利润实现同比增长。 2025 年，公司预计实现归母净利润 31.5 亿元~33.4 亿元，预计同比增长 68%~78%；预 计实现扣非净利润 29.9 亿元~31.7 亿元，预计同比增长 72%~82%。（2025 年度业绩预告数 据仅为公司财务部初步核算的结果 ...