Core Viewpoint - Mingyang Circuit (300739.SZ) has disclosed its performance forecast for the year 2025, expecting a significant increase in net profit attributable to shareholders, indicating strong growth potential for the company [1] Financial Performance - The company anticipates a net profit ranging from 78 million to 95 million yuan, representing a year-on-year growth of 585.19% to 734.52% [1] - The net profit after deducting non-recurring gains and losses is projected to be between 68 million and 85 million yuan [1]

Core Viewpoint - The company, Mingyang Circuit, expects to achieve a net profit attributable to shareholders of 78 million to 95 million yuan in 2025, representing a year-on-year growth of 585.19% to 734.52% [1] Group 1 - The company is increasing its research and investment in high-value areas such as high-speed products and semiconductor test boards, which is driving product structure optimization [1] - The company is fully promoting lean production and quality improvement measures, leading to significant growth in annual performance [1]

Core Viewpoint - Mingyang Circuit (300739.SZ) expects a net profit attributable to shareholders of 78 million to 95 million yuan for 2025, representing a year-on-year growth of 585.19% to 734.52% [1] Group 1: Business Focus and Strategy - The company continues to focus on its core business and actively seizes opportunities from industry recovery [1] - It is deepening market development and strengthening relationships with key customers [1] - The company is increasing research and investment in high-value areas such as high-speed products and semiconductor test boards, promoting product structure optimization [1] Group 2: Operational Efficiency - The company is fully advancing lean production and quality improvement initiatives [1] - These efforts are expected to lead to significant growth in annual performance [1]

Financial Projections - The company expects a net profit of between 78 million and 95 million CNY for the year 2025, representing a year-on-year growth of 585.19% to 734.52%[4] - The net profit after deducting non-recurring gains and losses is projected to be between 68 million and 85 million CNY, indicating a significant increase of 2,615.72% to 3,244.65% compared to the previous year[4] Business Strategy - The company has focused on its core business and capitalized on industry recovery opportunities, leading to substantial growth in performance[6] - There has been an increased investment in high-value areas such as high-speed products and semiconductor test boards, contributing to product structure optimization[6] - The company is actively promoting lean production and quality improvement to achieve significant annual performance growth[6]

北京市中伦（深圳）律师事务所 关于深圳明阳电路科技股份有限公司 外国投资者战略投资的 法律尽职调查报告 二〇二五年十二月 北京市中伦（深圳）律师事务所 关于深圳明阳电路科技股份有限公司 外国投资者战略投资的 法律尽职调查报告 致：张佩珂、深圳明阳电路科技股份有限公司 北京市中伦（深圳）律师事务所（下称"本所"）受深圳明阳电路科技股份有 限公司（下称"公司"或"明阳电路"）的实际控制人张佩珂委托，担任明阳电路 控股股东丰县润佳玺企业管理有限公司（下称"润佳玺"）与实际控制人张佩珂协 议转让明阳电路股份的专项法律顾问（下称"本项目"），对明阳电路控股股东与 实际控制人的主体资格以及协议转让事项是否符合《外国投资者对上市公司战略投 资管理办法》（下称"《外国投资者战投办法》"）的规定进行法律尽职调查。 《外国投资者战投办法》第八条第三款规定："战略投资通过协议转让、要约 收购方式实施的，由外国投资者聘请中介机构就该战略投资是否影响或者可能影响 国家安全、是否涉及外商投资准入负面清单，是否符合本办法第五条、第六条、第 七条、第十条第二款规定，作尽职调查。" 《外国投资者战投办法》第九条规定："中介机构应当出具报告，就 ...

Group 1 - The core point of the news is that Mingyang Circuit experienced a decline of 5.06% in its stock price, reaching 18.40 CNY per share, with a trading volume of 301 million CNY and a turnover rate of 4.67%, resulting in a total market capitalization of 6.872 billion CNY [1] - Mingyang Circuit Technology Co., Ltd. is located in Bao'an District, Shenzhen, Guangdong Province, and was established on July 31, 2001, with its listing date on February 1, 2018. The company's main business involves the research, development, production, and sales of printed circuit boards (PCBs) [1] - The revenue composition of Mingyang Circuit is primarily from printed circuit boards, accounting for 94.45%, while other business revenues contribute 5.55% [1] Group 2 - From the perspective of major fund holdings, one fund under Dongfang Fund has a significant position in Mingyang Circuit. The Dongfang Quantitative Multi-Strategy Mixed A Fund (006785) held 8,700 shares in the third quarter, representing 0.44% of the fund's net value, making it the fifth-largest holding [2] - The Dongfang Quantitative Multi-Strategy Mixed A Fund (006785) was established on February 22, 2019, with a latest scale of 28.7844 million CNY. Year-to-date, it has achieved a return of 9.48%, ranking 1447 out of 8848 in its category; over the past year, it has returned 48.89%, ranking 2199 out of 8093; and since inception, it has returned 8.01% [2] - The fund manager of Dongfang Quantitative Multi-Strategy Mixed A Fund is Wang Huaixun, who has been in the position for 3 years and 250 days, with the total asset scale currently at 799 million CNY. During his tenure, the best fund return was 73.19%, while the worst was -1.65% [2]

Group 1 - The core point of the news is that Shenzhen Mingyang Circuit Technology Co., Ltd. has not yet implemented its share repurchase plan as of December 31, 2025, raising market attention regarding its future actions [1][3]. Group 2 - The share repurchase plan was approved on May 14, 2025, with a budget of no less than 15 million yuan (approximately 2.1 million USD) and no more than 25 million yuan (approximately 3.5 million USD), with a maximum repurchase price of 18.16 yuan (approximately 2.54 USD) per share [2]. - The maximum repurchase price was adjusted to 18.03 yuan (approximately 2.53 USD) starting May 30, 2025, due to the implementation of the 2024 annual equity distribution [2]. Group 3 - The company plans to implement the repurchase based on market conditions within the remaining five months of the repurchase period, ensuring compliance with legal and regulatory disclosure obligations [4]. - Market analysts indicate that the progress of the repurchase plan is influenced by multiple factors, including market environment and company funding arrangements [4].

Core Viewpoint - The company, Mingyang Circuit Technology Co., Ltd., is enhancing its overseas manufacturing capabilities and advancing its global strategy by increasing its investment in Sunshine Circuits (M) Sdn.Bhd. by 15 million USD [1] Group 1: Investment Details - The investment amount of 15 million USD will be fully incorporated into the registered capital of Sunshine Circuits (M) Sdn.Bhd. [1] - Mingyang Circuit Technology Co., Ltd. retains 100% ownership of Sunshine Circuits (M) Sdn.Bhd. after this capital increase [1] Group 2: Regulatory Approvals - The company has completed the domestic filing registration for Sunshine Circuits (M) Sdn.Bhd. [1] - It has received the "Overseas Investment Project Filing Notification" from the Shenzhen Development and Reform Commission [1] - The company has also obtained the "Overseas Investment Certificate" from the Shenzhen Municipal Bureau of Commerce [1]

Group 1 - The core point of the article is that Shenzhen Mingyang Circuit Technology Co., Ltd. is enhancing its overseas manufacturing capabilities by increasing its investment in Sunshine Circuits (M) Sdn.Bhd. by $15 million through its wholly-owned subsidiary, Mingyang Circuit (Hong Kong) Co., Ltd. [1] - The entire investment amount will be added to the registered capital of Sunshine Circuits (M) Sdn.Bhd., and Mingyang Circuit (Hong Kong) will continue to hold 100% equity in Sunshine Circuits (M) Sdn.Bhd. [1] - The company has completed the domestic filing registration for Sunshine Circuits (M) Sdn.Bhd. and has received necessary approvals from the Shenzhen Development and Reform Commission and the Shenzhen Municipal Bureau of Commerce. [1]

Core Viewpoint - The company aims to enhance its overseas manufacturing capabilities and implement its globalization strategy by increasing its investment in Sunshine Circuits (M) Sdn.Bhd. through its wholly-owned subsidiary, Mingyang Circuit (Hong Kong) Limited, with an investment of 15 million USD [1] Group 1 - The investment amount of 15 million USD will be fully included in the registered capital of Sunshine Circuits (M) Sdn.Bhd. [1] - Mingyang Circuit (Hong Kong) Limited retains 100% ownership of Mingyang in Malaysia after the capital increase [1]