证券简称：胜宏科技 证券代码：300476 公告编号：2025-015 胜宏科技（惠州）股份有限公司 2024 年度向特定对象发行 A 股股票预案 （修订稿） 二〇二五年二月 胜宏科技（惠州）股份有限公司 向特定对象发行股票预案 公司声明 1、本公司及董事会全体成员保证本预案内容真实、准确、完整，并确认不 存在虚假记载、误导性陈述或重大遗漏，并对本预案内容的真实性、准确性、完 整性承担个别和连带的法律责任。 2、本预案按照《中华人民共和国证券法》《上市公司证券发行注册管理办 法》等法规及规范性文件的要求编制。 3、本次向特定对象发行股票完成后，公司经营与收益的变化，由公司自行 负责；因本次向特定对象发行股票引致的投资风险，由投资者自行负责。 4、本预案是公司董事会对本次向特定对象发行股票的说明，任何与之相反 的声明均属不实陈述。 5、投资者如有任何疑问，应咨询自己的股票经纪人、律师、会计师或其他 专业顾问。 6、本预案所述事项并不代表审批机关对于本次向特定对象发行股票相关事 项的实质性判断、确认或批准，本预案所述本次向特定对象发行股票相关事项的 生效和完成尚待深交所审核通过并经中国证监会作出同意注册决定。 2 ...

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。 证券代码：300476 证券简称：胜宏科技 公告编号：2025-011 胜宏科技（惠州）股份有限公司 关于股份回购实施结果暨股份变动的公告 胜宏科技（惠州）股份有限公司（以下简称"公司"）于 2024 年 9 月 13 日召开了第四届董事会第二十七次会议，审议通过了《关于回购公司股份方案的 议案》，同意公司使用自有资金以集中竞价交易方式回购部分公司已发行的人民 币普通股（A 股）股票（以下简称"本次回购"），用于实施员工持股计划或股 权激励。本次回购的资金总额不低于人民币 7,000 万元且不超过 14,000 万元（均 含本数），回购价格不超过 47.59 元/股。本次回购的实施期限为自董事会审议通 过回购股份方案之日起 12 个月内。具体内容详见公司于 2024 年 9 月 14 日在巨 潮资讯网披露的《关于回购公司股份方案的公告》（公告编号：2024-048）、《回 购报告书》（公告编号：2024-049）。 截至本公告披露日，本次回购公司股份方案已实施完毕，根据《上市公司股 份回购规则》《深圳证券交易所上 ...

Investment Rating - The investment rating for Shenghong Technology is "Buy" [2][11] Core Viewpoints - Shenghong Technology is a high-end PCB core supplier, with its server PCB business opening a second growth curve for the company. The company is focusing on niche growth markets such as AI computing, high-end servers, and new energy vehicles to counteract the weak demand in consumer electronics since 2023 [5][6] - The PCB industry is showing signs of recovery, with the server application segment experiencing the fastest growth. The overall market size for server and data storage PCBs is expected to grow from USD 9.781 billion in 2024 to USD 14.221 billion by 2028, with a CAGR of 11.6% from 2023 to 2028 [7][50] - The demand for AI chips is strong, driving the need for PCB upgrades as server products must keep pace with the generational changes in server chips [8][73] Summary by Sections Company Overview - Shenghong Technology has become a leading PCB core supplier over the past two decades, with a wide range of applications in sectors such as new energy, automotive electronics, and AI [22][23] - The company has a strong technical foundation, with over 1,000 R&D personnel and more than 290 patents in the PCB field [23][36] - The company has achieved stable revenue growth, with operating income increasing from CNY 2.442 billion in 2017 to CNY 7.931 billion in 2023 [39] Market Trends - The PCB industry is experiencing a recovery, with inventory levels improving and demand gradually returning. The global PCB market is projected to reach USD 73.026 billion in 2024, with China accounting for over 50% of the market share [42][44] - The automotive PCB market is expected to grow significantly, driven by the increasing penetration of electric vehicles, with the market value projected to reach USD 14.5 billion by 2026 [78][79] AI and Server Demand - The demand for AI servers is rapidly increasing, with the Chinese market expected to reach USD 12.4 billion by 2028. The growth is driven by the need for high-performance computing and AI applications [61][62] - Shenghong Technology is actively participating in the innovation and development of server and AI computing applications, achieving significant breakthroughs in high-layer HDI products [53][54] Financial Projections - The company is expected to achieve operating revenues of CNY 111.45 billion, CNY 146.12 billion, and CNY 165.06 billion for the years 2024, 2025, and 2026, respectively, with corresponding net profits of CNY 11.68 billion, CNY 15.51 billion, and CNY 18.60 billion [11][106]

君合律师事务所上海分所（以下简称"本所"）接受胜宏科技（惠州）股份有 限公司（以下简称"公司"或"胜宏科技"）的委托，根据《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》、《上市公司股东大会规 则》（以下简称"《股东大会规则》"）等法律、法规、规范性文件（以下简称"法 律、法规"）及《胜宏科技（惠州）股份有限公司章程》（以下简称"《公司章程》"） 的有关规定，按照律师行业公认的业务标准、道德规范和勤勉尽责精神，就公司 2025 年第一次临时股东会（以下简称"本次股东会"）有关事宜出具本法律意见书。 为出具本法律意见书之目的，本所律师对公司提供的与本次股东会有关的文 件和事实进行了核查和验证。在本所律师对公司提供的有关文件进行核查和验证 的过程中，本所假设： 1. 提供予本所之文件中的所有签署、盖章及印章都是真实的，所有作为正本 提交给本所的文件都是真实、准确、完整的； 2. 提供予本所之文件中所述的全部事实都是真实、准确、完整的； 4.所有提交给本所的复印件是同原件一致的，并且这些文件的原件均是真实、 完整、准确的。 中国上海石门一路 288 号兴业太古汇香港兴业中心一座 26 ...

胜宏科技（惠州）股份有限公司 2025 年第一次临时股东会决议公告 本公司及董事会全体成员保证公告内容的真实、准确、完整，没有虚假记载、误导性陈 述或重大遗漏。 特别提示： 证券代码：300476 证券简称：胜宏科技 公告编号：2025-008 1、本次股东会无增加议案、否决、修改提案的情况； 2、本次股东会不存在变更前次股东会决议的情况； 3、本次股东会采取现场投票与网络投票的方式进行。 一、会议召开和出席情况 （一）会议召开情况 1、会议召开时间： （1）现场会议时间：2025年1月24日（星期五）14:30 （2）网络投票时间：2025年1月24日至2025年1月24日 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为2025年1月 24日9:15—9:25,9:30—11:30 和13:00—15:00； 6、本次会议符合有关法律、行政法规、部门规章、规范性文件和公司章程 的规定。 （二）会议出席情况 1、出席会议的总体情况 1 通过深圳证券交易所互联网投票系统投票的具体时间为2025年1月24日9:15 至15:00期间的任意时间。 2、召开地点：广东省惠州市惠阳区淡水镇新桥村行诚科技园胜宏 ...

胜宏科技（惠州）股份有限公司（以下简称"公司"）原董事何连琪先生因 到龄退休原因，已辞去公司董事、副总经理、战略与投资委员会委员等职务，具 体内容详见公司于 2024 年 11 月 26 日在中国证监会指定的创业板信息披露网站 （巨潮资讯网 http://www.cninfo.com.cn）上披露的《关于公司董事兼副总经理辞 职的公告》（公告编号：2024-067）。 为完善公司治理结构，公司于 2025 年 1 月 8 日召开第四届董事会第三十二 次会议，审议通过了《关于补选公司非独立董事的议案》，董事会同意提名赵启 祥先生为公司第四届董事会非独立董事候选人，并在股东会同意选举其为公司非 独立董事后，由其担任董事会战略与投资委员会委员。具体内容详见公司于 2025 年 1 月 9 日 在中 国证监 会指 定的 创 业板信 息披 露网 站 （巨潮 资讯网 http://www.cninfo.com.cn）上披露的《关于补选非独立董事及聘任高级管理人员 的公告》（公告编号：2025-003）。 证券代码：300476 证券简称：胜宏科技 公告编号：2025-009 胜宏科技（惠州）股份有限公司 关于完成补选非独 ...

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company is expected to achieve a record profit in 2024, with a projected net profit of approximately 1.12 to 1.24 billion yuan, representing a year-on-year growth of 66.83% to 84.70% [1] - The company's performance is driven by its core product technology advantages and rapid deployment in AI computing and data center sectors, leading to significant revenue growth [2] - The company is positioned to benefit from the global scarcity of high-end HDI production capacity, with ongoing production of advanced HDI products and development of next-generation products [3] Financial Performance Summary - The company forecasts net profits of 1.18 billion yuan for 2024, with a year-on-year growth rate of 75.7%, and projected profits of 3.14 billion yuan and 4.50 billion yuan for 2025 and 2026, respectively [4] - Revenue is expected to grow from 7.93 billion yuan in 2023 to 11.80 billion yuan in 2024, reflecting a growth rate of 48.8% [5] - The company's earnings per share (EPS) is projected to increase from 0.78 yuan in 2023 to 1.37 yuan in 2024 [5] Business Development Summary - The company is enhancing its collaboration with major clients in the AI sector, with significant contributions expected from new AI products in Q4 2024 [2] - The acquisition of the APCB factory in Thailand aims to capture overseas demand for AI products, facilitating further growth in North American markets [3] - The company is advancing its capabilities in high-layer precision circuit boards, establishing itself as a leader in the AI high-multilayer technology space [3]

Financial Performance - The company expects net profit attributable to shareholders to be between RMB 1,120 million and RMB 1,240 million for 2024, representing a year-on-year growth of 66.83% to 84.70%[3] - The expected net profit after deducting non-recurring losses is projected to be between RMB 1,100 million and RMB 1,200 million, an increase of 66.15% to 81.26% compared to the previous year[3] - The impact of non-recurring gains and losses on net profit is estimated to be approximately RMB 31 million, an increase of about RMB 21.7 million from RMB 9.3 million in the same period last year, mainly due to increased government subsidies[5] - The financial data provided is preliminary and will be detailed in the 2024 annual report[6] - The company has communicated with the accounting firm regarding the earnings forecast, and there are no significant discrepancies[3] Product Development and Innovation - The company has successfully leveraged its core product technology advantages and deepened collaboration with international leading clients to develop new products and technologies[4] - Multiple high-end new products in the AI computing and data center sectors have achieved large-scale mass production, driving significant revenue growth[4] - The company has integrated resources and achieved significant synergy effects to empower the development of the MFS Group[4]

Investment Rating - The report gives a "Buy" rating for the company, indicating a significant valuation advantage compared to peers [3][107]. Core Views - The company is positioned at the forefront of the AI PCB wave, with its expertise in HDI and high-layer PCBs driving accelerated growth in revenue and profits. The company has established deep collaborations with global clients such as NVIDIA, Tesla, and AMD, and is expected to benefit from the increasing demand for AI-related products [1][12]. - The global HDI market is projected to grow at a CAGR of 16.3% from 2023 to 2028, making it one of the fastest-growing segments in the PCB industry [1]. - The company has successfully expanded its production capacity for high-layer HDI products and is actively developing next-generation products, which positions it well for future growth [2][101]. Summary by Sections Company Overview - The company specializes in HDI and high-layer PCBs, with applications in AI, data centers, and automotive electronics. It has a strong customer base that includes major global tech firms [12][19]. Financial Performance - In the first three quarters of 2024, the company achieved revenue of 7.7 billion yuan, a year-on-year increase of 34%, and a net profit of 770 million yuan, up 30.5% year-on-year. The company is expected to continue this growth trajectory as AI products ramp up [1][34]. Market Trends - The demand for AI servers is surging, with significant capital expenditures from major cloud service providers. The report anticipates that AI servers will account for 12.2% of total server shipments in 2024, reflecting a growing trend in the industry [46][48]. - The company is set to benefit from the increasing complexity and performance requirements of AI hardware, which necessitates advanced PCB solutions [63][73]. Production Capacity and Technology - The company has a competitive edge in producing high-layer HDI products, with capabilities for 28-layer and 8-stage HDI boards. This positions it as a rare player in the global market capable of mass production [2][96]. - The report highlights the company's ongoing investments in R&D to enhance its technological capabilities, particularly in AI-related applications [42][43]. Future Outlook - The company is projected to achieve net profits of 1.23 billion yuan in 2024, 3.14 billion yuan in 2025, and 4.50 billion yuan in 2026, with corresponding growth rates of 83.8%, 154.7%, and 43.4% [3][107]. - The anticipated increase in high-margin products and the expansion of production capacity are expected to drive overall profitability and market share growth [107][108].

国信证券股份有限公司关于 胜宏科技（惠州）股份有限公司 创业板向特定对象发行股票的 发行保荐书 保荐人（主承销商） （注册地址：深圳市罗湖区红岭中路 1012 号国信证券大厦 16-26 层） 3-1-1 保荐机构声明 本保荐机构及所指定的两名保荐代表人均是根据《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》"）、《上市公司证券发行注册管理办法》（以下简称"《注册管理办法》"） 等有关法律、法规和中国证券监督管理委员会（以下简称"中国证监会"）的有 关规定，诚实守信，勤勉尽责，严格按照依法制订的业务规则、行业执业规范和 道德准则出具本发行保荐书，并保证所出具的文件真实、准确、完整。 3-1-2 第一节 本次证券发行基本情况 一、保荐代表人情况 （二）项目组其他成员 项目组其他主要成员为：张琪、曾开、刘睿、谷若怀、王菲、王辰皑、刘星。 三、发行人基本情况 （一）基本情况 公司名称：胜宏科技（惠州）股份有限公司（以下简称"胜宏科技"、"公司"、 "发行人"） 张茜女士：国信证券投资银行事业部业务总监，保荐代表人，管理学硕士。 2017 年加入国信证券开始从事投 ...