Core Viewpoint - The rapid development of AI has significantly boosted the performance and stock price of Shenghong Technology, a leading PCB manufacturer, with expectations for continued growth in the sector [2][4]. Financial Performance - Shenghong Technology reported a net profit of 2.143 billion yuan for the first half of the year, a year-on-year increase of 366.89%, with Q2 revenue reaching 4.719 billion yuan, up 91.51% [2]. - The company's stock price surged from 41.54 yuan at the beginning of the year to 352.49 yuan, marking an increase of over 710% [4]. Market Expectations - Market rumors suggested that Goldman Sachs raised Shenghong Technology's target price from 380 yuan to 895 yuan based on its Q2 performance and AI growth potential, although these rumors were denied by sources close to Goldman Sachs [3]. - The dynamic P/E ratio of Shenghong Technology reached over 103 times, significantly higher than the average of 56.36 times for the Wind electronic components sector [6]. Industry Position - Shenghong Technology ranks sixth globally among PCB suppliers and third among domestic manufacturers in China, with advanced capabilities in high-density interconnect (HDI) technology [4]. - The global HDI market is projected to reach $17.037 billion by 2029, with a compound annual growth rate (CAGR) of 6.4% from 2024 to 2029, and AI-related HDI boards expected to grow at a CAGR of 20.6% during the same period [6]. Strategic Partnerships - Shenghong Technology is set to become a Tier 1 supplier for NVIDIA by 2025, with over 70% of its orders related to NVIDIA's AI products [5]. - The company has established a strong relationship with NVIDIA, which is expected to drive significant order demand due to the rapid growth in AI server shipments [6]. Capital Operations - The controlling shareholder and executives of Shenghong Technology have engaged in significant share reductions, with plans for a Hong Kong IPO to raise approximately $1 billion for capacity expansion and R&D [7][8]. - The company previously initiated a fundraising plan to invest in production capacity for AI-related HDI products in Vietnam and Thailand, which received regulatory approval [8].

Group 1: Company Overview - Shenghong Technology (Huizhou) Co., Ltd. hosted an investor relations event with 62 institutional and individual investors at its headquarters and Thai subsidiary [1] - The company adheres to the philosophy of "Embrace AI, Run Towards the Future," seizing opportunities in AI computing technology and data center upgrades to gain market advantage [3] Group 2: Industry Trends - The AI technology revolution, starting in 2024, is driving rapid development in downstream sectors such as computing power, high-speed communication, new energy vehicles, and intelligent driving [2] - The demand for high-layer and high-density interconnect (HDI) PCBs is expected to grow significantly, with a projected compound annual growth rate of 20% for AI PCBs over the next five years [2] Group 3: Competitive Advantages - The company has a technological edge, participating deeply in core customer project R&D and accumulating proprietary technology ahead of market production by 2-3 years [3] - The company’s production capacity spans Guangdong, Hunan, Thailand, and Malaysia, with its Huizhou headquarters being the largest single PCB production base globally [3] Group 4: Supply and Demand Dynamics - There is a continuous increase in demand for high-end production capacity, with a relative shortage in supply for high-end products [4] - The industry trend is to reduce unit power consumption while enhancing computing density and electrical performance, leading to increased requirements for PCB manufacturing processes [4] Group 5: Capacity Expansion and Customer Demand - The company is expanding its capacity in response to the growing demand for AI computing and servers, with high-end product supply expected to remain tight in the medium term [5] - The company is building a global operational network through domestic and overseas factories, with ongoing upgrades at the Thai facility and collaborations with major North American tech clients [5]

Group 1: Industry Trends - The AI technology revolution has led to rapid growth in downstream sectors such as computing power, high-speed networking, new energy vehicles, and intelligent driving, marking a new growth cycle for the PCB industry [1][3] - Prismark predicts a compound annual growth rate (CAGR) of 20% for AI PCBs over the next five years, driven by the demand for high-layer and high-density interconnect (HDI) PCBs [3] Group 2: Company Advantages - Strategic Advantage: The company embraces AI and focuses on technological innovation and product layout to seize market opportunities, enhancing core competitiveness [4] - Technological Advantage: The company leads in AI computing power and server technology, establishing a 2-3 year lead in mass production technology [4][6] - Quality Advantage: The company maintains high reliability and yield rates for high-density and high-layer products, utilizing AI for quality control to achieve zero defects [5][6] - Capacity Advantage: The company has production facilities in multiple regions, with its Huizhou headquarters being the largest single PCB production base globally, enhancing its ability to meet global delivery demands [5][10] Group 3: Market Dynamics - There is a continuous increase in demand for high-end production capacity, while supply remains relatively tight, indicating a strong market for high-end PCB products [8] - The company adapts its R&D to multiple clients, allowing for strategic selection of orders based on scale, certainty, and profitability [8][9] Group 4: Future Development Trends - The PCB industry is expected to focus on reducing energy consumption per unit of computing power and improving performance metrics, leading to increased manufacturing requirements and higher product value [9] - The company is expanding its global footprint through domestic and international operations, enhancing its high-end production capacity to meet diverse customer needs [10]

进一步统计，近3个月内该股累计发生55笔大宗交易，合计成交金额为4.96亿元。 证券时报·数据宝统计显示，胜宏科技今日收盘价为339.58元，上涨0.47%，日换手率为8.40%，成交额 为243.14亿元，全天主力资金净流出1.96亿元，近5日该股累计上涨14.80%，近5日资金合计净流入4.54 亿元。 两融数据显示，该股最新融资余额为148.35亿元，近5日增加18.34亿元，增幅为14.10%。（数据宝） 9月12日胜宏科技大宗交易一览 胜宏科技9月12日大宗交易平台共发生2笔成交，合计成交量22.42万股，成交金额7613.39万元。成交价 格均为339.58元。从参与大宗交易营业部来看，机构专用席位共出现在2笔成交的买方或卖方营业部 中，合计成交金额为7613.39万元。 | 成交量（万 | 成交金额（万 | 成交价格 | 相对当日收盘折溢价 | 买方营业 | 卖方营业 | | --- | --- | --- | --- | --- | --- | | 股） | 元） | （元） | （%） | 部 | 部 | | 21.46 | 7287.39 | 339.58 | 0.00 | 机构专用 | ...

Summary of Key Points Core Viewpoint - On September 12, a total of 91 stocks were traded on the block trading platform, with a cumulative trading volume of 472 million shares and a total transaction amount of 6.889 billion yuan, indicating active trading in the market [1]. Group 1: Major Transactions - The highest transaction amount was for Shanghai Pudong Development Bank, with 2 transactions totaling 4.531 billion yuan [1]. - Following closely was Guangqi Technology, which had 3 transactions amounting to 224 million yuan [1]. Group 2: Stock Performance - Shanghai Pudong Development Bank experienced a price drop of 3.68%, closing at 13.60 yuan, with a transaction price of 13.81 yuan, reflecting a premium of 1.54% [1]. - Guangqi Technology saw a slight decline of 0.89%, closing at 46.82 yuan, with a transaction price of 45.65 yuan, indicating a discount of 2.50% [1]. - Hengli Petrochemical and Huichuan Technology also reported declines of 1.91% and 1.26%, respectively, with closing prices of 16.96 yuan and 79.68 yuan [1]. Group 3: Notable Gainers - Shengguang Technology and Sanxia Tourism reported gains of 0.47% and 10.03%, closing at 339.58 yuan and 7.02 yuan, respectively [1]. - Other notable gainers included Huatu Shanding and Cambrian Technology, with increases of 3.38% and 7.28%, closing at 71.90 yuan and 1488.00 yuan [1].

截至发稿，胜宏科技市值为2930亿元。 每经头条（nbdtoutiao）——到底是不是预制菜？罗永浩大战贾国龙！记者实探西贝后厨，厨师长谈罗 永浩点的烤鱼：需门店二次切配等，不是加热即食 （记者 张喜威） 每经AI快讯，胜宏科技（SZ 300476，收盘价：339.58元）9月12日晚间发布公告称，公司第五届第九次 董事会会议于2025年9月12日以通讯表决的方式召开。会议审议了《关于调整2022年限制性股票激励计 划限制性股票授予价格的议案》等文件。 2024年1至12月份，胜宏科技的营业收入构成为：PCB制造业占比93.66%，其他业务占比6.34%。 ...

证券代码：300476 证券简称：胜宏科技 公告编号：2025-102 胜宏科技（惠州）股份有限公司 关于 2022 年限制性股票激励计划首次授予部分 第三个归属期归属条件成就的公告 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。 重要内容提示： 胜宏科技（惠州）股份有限公司（以下简称"公司"或"胜宏科技"）于 2025 年 9 月 12 日召开第五届董事会第九次会议，审议通过了《关于 2022 年限制性股 票激励计划首次授予部分第三个归属期归属条件成就的议案》，董事会认为公司 2022 年限制性股票激励计划（以下简称"本激励计划"或本次激励计划"）首次授 予部分第三个归属期归属条件已成就，同意公司按照本激励计划相关规定为符合 条件的 623 名激励对象办理 703.632 万股第二类限制性股票归属相关事宜。现将 相关事项的具体情况公告如下： 一、股权激励计划实施情况概要 （一）股权激励计划简介 2022 年 8 月 15 日公司召开 2022 年第二次临时股东大会，审议通过了《关 于公司<2022 年限制性股票激励计划（草案）>及其摘要的议案》等相关议案。 ...

证券代码：300476 证券简称：胜宏科技 公告编号：2025-104 胜宏科技（惠州）股份有限公司 关于作废 2022 年限制性股票激励计划部分已授予但尚未归属的 限制性股票的公告 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。 胜宏科技（惠州）股份有限公司（以下简称"公司"或"胜宏科技"）于 2025 年 9 月 12 日召开第五届董事会第九次会议，审议通过了《关于作废 2022 年限制性股票激励计划部分已授予但尚未归属的限制性股票的议案》，根据《上 市公司股权激励管理办法》（以下简称"《管理办法》"）以及《2022 年限制 性股票激励计划（草案）》（以下简称"《激励计划（草案）》"）的相关规定， 公司决定作废 966.693 万股已获授但尚未归属的第二类限制性股票。现将相关事 项的具体情况公告如下： 一、股权激励计划已履行的相关审批程序 1、2022 年 7 月 29 日，公司召开第四届董事会第五次会议和第四届监事会 第五次会议，审议通过了《关于公司<2022 年限制性股票激励计划（草案）>及 其摘要的议案》《关于公司<2022 年限制性股票激励计划实施 ...

证券代码：300476 证券简称：胜宏科技 公告编号：2025-103 胜宏科技（惠州）股份有限公司 关于调整 2022 年限制性股票激励计划限制性股票授予价格的公告 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。 胜宏科技（惠州）股份有限公司（以下简称"公司"或"胜宏科技"）于 2025 年 9 月 12 日召开第五届董事会第九次会议，审议通过了《关于调整 2022 年限制性股票激励计划限制性股票授予价格的议案》。现将相关事项的具体情况 公告如下： 一、股权激励计划已履行的相关审批程序 1、2022 年 7 月 29 日，公司召开第四届董事会第五次会议和第四届监事会 第五次会议，审议通过了《关于公司<2022 年限制性股票激励计划（草案）>及 其摘要的议案》《关于公司<2022 年限制性股票激励计划实施考核管理办法>的 议案》等议案。 2、2022 年 7 月 30 日至 2022 年 8 月 9 日，公司在内部就 2022 年限制性股 票激励计划首次授予激励对象名单进行了公示。在公示期内，4 名拟激励对象离 职，不再符合公司本次激励计划首次授予激励对象的条 ...

中国上海石门一路 288 号 兴业太古汇香港兴业中心一座 26 层 邮编：200040 电话：（86-21）5298 5488 传真：（86-21）5298 5492 junhesh@junhe.com 君合律师事务所上海分所 关于胜宏科技（惠州）股份有限公司 2022 年限制性股票激励计划授予价格调整、首次授予部分第 三个归属期归属条件成就及作废部分限制性股票事项之 法律意见书 致：胜宏科技（惠州）股份有限公司 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"胜宏科技"或"公司"）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》（以下简称"《证券法》"）、 《上市公司股权激励管理办法》（以下简称"《管理办法》"）、《深圳证券交易所 创业板股票上市规则》、《深圳证券交易所创业板上市公司自律监管指南第 1 号 ——业务办理》等中国（为本法律意见书适用法律之目的，不包括香港特别行政 区、澳门特别行政区和台湾地区）现行有效法律、法规、规范性文件和《胜宏科 技（惠州）股份有限公司章程》的有关规定，就胜宏科技（惠州）股份有限公司 2022 ...