Group 1 - The core point of the article is that Pengding Holdings (SZ 002938) held its 20th meeting of the 3rd board of directors on October 9, 2025, via telecommunication, where it reviewed a proposal regarding the application for bank credit limits for its subsidiaries [1] - For the first half of 2025, the revenue composition of Pengding Holdings was 99.22% from printed circuit boards and 0.78% from other businesses [1] - As of the time of reporting, the market capitalization of Pengding Holdings was 130.1 billion yuan [1]

Core Viewpoint - Pengding Holdings (002938) announced a consolidated revenue of 4.261 billion yuan for September 2025, representing a 6.21% increase compared to the same period last year [1] Summary by Category - **Company Performance** - The consolidated revenue for September 2025 is reported at 4.261 billion yuan, which shows a growth of 6.21% year-over-year [1]

2025 年 9 月营业收入简报 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：鹏鼎控股(深圳)股份有限公司(以下简称"本公司"或"公司") 之间接控股股东臻鼎科技控股股份有限公司（以下简称"臻鼎科技"）为台湾 地区上市公司，臻鼎科技需按照台湾证券交易所相关规定，披露每月营业收入 数据。为使 A 股投资者能够及时了解公司的经营情况，本公司亦同步在深圳证 券交易所指定的信息披露媒体上披露本公司营业收入。 本简报为初步核算数据，未经会计师事务所审计或审阅，最终数据以公司 定期报告为准，敬请投资者注意投资风险。 公司 2025 年 9 月合并营业收入为人民币 426,095 万元，较去年同期的合并 营业收入增加 6.21%。 特此公告。 鹏鼎控股（深圳）股份有限公司 证券代码：002938 证券简称：鹏鼎控股 公告编号：2025-062 鹏鼎控股（深圳）股份有限公司 董 事 会 2025 年 10 月 10 日 ...

证券代码：002938 证券简称：鹏鼎控股 公告编号：2025-061 鹏鼎控股（深圳）股份有限公司 关于子公司申请银行授信额度的公告 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，没有虚假 记载、误导性陈述或重大遗漏。 鹏鼎控股（深圳）股份有限公司（以下简称"本公司"或"公司"） 于 2025 年 10 月 9 日召开第三届董事会第二十次会议审议通过了《关于子公司申请银行授 信额度的议案》。现将相关事宜公告如下： 以上银行授信额度主要为公司子公司日常经营所需，均为信用额度，不涉及 担保等情形，不存在重大风险，亦不会对公司及股东产生重大影响。 二、备查文件 1、第三届董事会第二十次会议决议。 特此公告。 鹏鼎控股（深圳）股份有限公司 董 事 会 一、申请综合授信额度的基本情况 为配合公司业务发展需要，公司全资子公司鹏晟科技(泰国)有限公司向 以下银行申请授信额度: 以上授信额度最终以银行实际审批的额度为准，内容包括短期贷款、贸易融 资、银行承兑汇票、信用证、保函、远期外汇等本外币信用品种。公司董事会授 权公司董事长沈庆芳先生或其指定代表人代表公司与银行机构签署上述授信融 资项下的有关法律文件。 1 ...

证券代码：002938 证券简称：鹏鼎控股 公告编号：2025-060 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。 一、董事会会议召开情况 鹏鼎控股（深圳）股份有限公司（以下简称"公司"）第三届董事会第二十 次会议于2025年10月9日以通讯方式召开，相关会议通知及会议资料已于2025年 10月7日以电子邮件方式向公司全体董事发出，本次会议应出席董事9人，实际出 席董事9人，本次会议由董事长沈庆芳先生主持。会议的召开符合《中华人民共 和国公司法》、《鹏鼎控股（深圳）股份有限公司章程》和《鹏鼎控股（深圳） 股份有限公司董事会议事规则》的有关规定。 三、备查文件 1、第三届董事会第二十次会议决议； 鹏鼎控股(深圳)股份有限公司 第三届董事会第二十次会议决议公告 二、董事会会议审议情况 本次会议经过充分讨论，经董事以记名投票方式表决，审议通过《关于子公 司申请银行授信额度的议案》； 表决结果：9 票赞成，0 票反对，0 票弃权。 以上议案具体内容详见同日刊登在《证券时报》、《上海证券报》及巨潮资讯 网（www.cninfo.com.cn）的鹏鼎控股《关于子公司申 ...

Group 1 - The "Second Golden Unicorn Best Investment Advisor Selection" event is currently ongoing, with over 3,000 professional investment advisors participating in simulated trading competitions [1] - The event aims to provide a platform for investment advisors to showcase their capabilities, expand services, and enhance skills, thereby promoting the healthy development of China's wealth management industry [1] Group 2 - On October 9, the top ten stocks by purchase frequency in the stock group included companies such as Xiechuang Data (sz300857) and Lankai Technology (sh688008) [2] - The top ten stocks by purchase amount on the same day featured companies like SMIC (sh688981) and Lankai Technology (sh688008) [3] - The data for the top ten buy stocks/ETFs is based on the frequency of purchases by all participating contestants, while the top ten by purchase amount reflects the highest monetary investments [4]

Core Viewpoint - The report highlights that the evolution of AI computing hardware is driving structural growth opportunities in the PCB (Printed Circuit Board) industry, with significant demand for high-layer and HDI boards due to the increasing requirements of AI applications and high-performance computing [1][27]. Industry Overview - The global PCB market size is projected to grow from $62 billion in 2020 to $75 billion in 2024, with a compound annual growth rate (CAGR) of 4.9%. By 2029, the market is expected to reach $93.7 billion, with a CAGR of 4.6% from 2024 to 2029 [1][27]. - The AI and high-performance computing sectors are anticipated to see substantial growth, with the market size expected to reach $15 billion by 2029, reflecting a CAGR of 20.1% from 2024 to 2029 [1][27]. Demand Drivers - The demand for high-layer PCBs and HDI boards is rapidly increasing, driven by the need for high-frequency, low-signal loss, and high-heat dissipation performance in AI servers. The value of a single AI server PCB is significantly higher than that of traditional servers [1][27]. - The market for high-layer PCBs is projected to reach $171 billion by 2029, while the share of high-end HDI boards in the global HDI market is expected to rise from 47% in 2024 to 57% in 2029, with a market size of $9.6 billion [1][27]. Technological Advancements - AI server requirements are pushing PCB technology upgrades, necessitating the use of high-layer (14-30 layers) and low-loss materials. This includes the adoption of low roughness reverse (RTF) copper foil and very low loss materials to minimize signal distortion [1][27]. - The report emphasizes the importance of material upgrades, such as the transition from traditional fiberglass cloth to low dielectric constant Q cloth, to meet the evolving demands of high-frequency applications [1][27]. Company Strategies - Companies in the PCB sector are actively expanding their capabilities. For instance, companies like Huadian Co. are advancing high-end PCB production, while Shenghong Technology has the capacity for mass production of high-layer boards and HDI boards [1][27]. - Equipment manufacturers like Chip Microelectronics and Dazhu CNC are introducing laser equipment tailored for high-end PCB processing, while material suppliers like Honghe Technology and Feilihua are developing low-dielectric electronic fabrics and high-end copper foils [1][27].

Core Viewpoint - The recent financing and expansion plans of major PCB companies are primarily driven by the increasing demand for AI technologies and high-end PCB products, indicating a significant shift in the industry towards advanced manufacturing capabilities [1][3][6]. Group 1: Company Expansion Plans - Huadian Co. disclosed a new project for high-end printed circuit boards (PCBs) with an investment of 4.3 billion yuan, which began construction in June 2023 and is expected to start trial production in the second half of 2026 [1]. - Shenghong Technology completed a fundraising round of 1.9 billion yuan, with allocations of 850 million yuan for an AI HDI project in Vietnam and 500 million yuan for a high-layer PCB project in Thailand [1]. - Eight PCB manufacturers have announced new financing and expansion plans since July 25, focusing on enhancing their capabilities in HDI, HLC, and SLP products [1][2]. Group 2: Market Demand and Trends - The demand for high-density and high-layer PCBs is expected to grow significantly due to advancements in AI, satellite communications, and automotive electronics, with the HDI market projected to reach 17.037 billion USD by 2029, reflecting a compound annual growth rate of 6.4% [6]. - The complexity of PCB production processes is increasing, necessitating higher precision and efficiency in manufacturing equipment, particularly in plating and drilling stages [6][7]. - The shift towards high-end PCB products is driving upgrades in core materials such as copper foil, electronic cloth, and resin, which are essential for meeting the demands of high-speed signal transmission [7]. Group 3: Investment Opportunities - The expansion of PCB production is anticipated to create a favorable cycle for the industry, benefiting upstream material and equipment companies as demand for high-end PCBs rises [7]. - The global market for PCB-specific equipment is expected to reach 10.765 billion USD by 2029, with a compound annual growth rate of 8.7% from 2024 to 2029 [6].

不久前召开的中国开发区营商环境建设大会传来喜讯：淮安经济技术开发区《乘"数"而上 "智"惠 民生》入选2025年度中国开发区营商环境百佳案例。 今年以来，淮安经开区始终秉持"做的要比说的好，服务要比需求早"理念，以全周期服务为笔、以 优质环境为纸，书写了项目招引与发展新篇章。今年前8个月，该区完成规上工业总产值560.22亿元、 增幅11.2%，总量全市第一；限上贸易额增幅95.4%，增速全市第一；实现外贸进出口185.2亿元，总量 全市第一。 全链条护航重大项目 打造"经开区速度"标杆 本土企业是地方经济发展的重要支撑，而其健康成长，则是地方发展活力、营商环境的直观体现。 重大项目是经济发展的"压舱石"，而高效的服务则是项目从签约到投产的"加速器"。 8月20日，鹏鼎控股淮安园区总投资80亿元的高端智能制造产业项目开工。这是该企业自2006年落 户淮安经开区，在此后10余年间，从二期、三期持续增资后，在经开区再度注资、提档发展的坚定选 择。至此，该公司累计在淮投资已达270亿元，年产值由当初的1亿元跃升至超150亿元，成为行业龙头 企业。 鹏鼎控股董事长沈庆芳表示："淮安政府'做的要比说的好、服务要比需求早 ...

Core Insights - The report emphasizes that the commercialization of AI applications is approaching a critical turning point, with a focus on domestic computing power and rapidly advancing application verticals [6][7][8] - The demand for AI applications is reflected in the significant increase in Tokens consumption, indicating a rapid expansion of AI application needs across various sectors such as AI programming, AI multimodal, AI advertising, AI education, and AI healthcare [7][8] - The report highlights the strong performance of the overseas computing power chain, with a 255% increase since April 9, 2025, while domestic computing power, particularly the Huawei chain, has seen a more modest increase of 71% [9] Market Performance - The Shanghai Composite Index closed at 3862.53, up 0.90%, while the Shenzhen Component Index rose by 2.05% to 13479.43 [3] - The performance of various industry indices shows that non-bank financials increased by 3.84%, and metals by 3.78%, while coal and oil sectors experienced declines [4] Industry Focus - The report identifies key investment opportunities in the domestic computing power and AI application sectors, particularly those related to Huawei's computing power and software chains, which are expected to yield favorable performance in the near term [9] - The AI application business model is transitioning from concept validation to revenue generation, with a clear need for established overseas business models to guide domestic market development [7][8]