| | | 债券代码：123203 债券简称：明电转 02 深圳明阳电路科技股份有限公司 关于提前赎回"明电转 02"的第一次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 1．"明电转 02"赎回价格：100.44 元/张（含当期应计利息，当期年利率 为 1.0%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任 公司深圳分公司（以下简称"中国结算"）核准的价格为准。 2．赎回条件满足日：2025 年 11 月 20 日 9．赎回类别：全部赎回 自 2025 年 10 月 31 日至 2025 年 11 月 20 日，深圳明阳电路科技股份有限公 司（以下简称"公司"）股票价格已满足在连续 30 个交易日中至少 15 个交易日 的收盘价格不低于"明电转 02"当期转股价格的 130%，其中 2025 年 10 月 31 日至 2025 年 11 月 3 日，已有 2 个交易日的收盘价格不低于"明电转 02"当期 转股价格（11.74 元/股）的 130%（即 15.2620 元/股）；2025 年 11 月 4 日至 202 ...

Core Points - Mingyang Circuit announced that "Mingdian Convertible Bond 02" will be forcibly redeemed at a price of 100.44 CNY per share if not converted by the close of trading on December 11, 2025 [2] - The current market price of "Mingdian Convertible Bond 02" is significantly different from the redemption price, prompting the company to remind bondholders to convert their bonds within the specified period to avoid potential losses [2] Summary by Category - **Company Announcement** - Mingyang Circuit has issued a notice regarding the forced redemption of "Mingdian Convertible Bond 02" at 100.44 CNY per share if not converted by the deadline [2] - **Market Conditions** - There is a notable disparity between the secondary market price of "Mingdian Convertible Bond 02" and the redemption price, which raises concerns for investors [2] - **Investor Advisory** - The company has urged bondholders to pay attention to the conversion deadline to mitigate the risk of financial loss [2]

Group 1 - The core point of the article is that Mingyang Circuit (SZ 300739) announced a temporary board meeting to discuss the early redemption of "Mingdian Convertible Bond 02" on November 20, 2025 [1] - For the year 2024, the revenue composition of Mingyang Circuit is projected to be 94.08% from printed circuit boards and 5.92% from other businesses [1] - As of the report date, the market capitalization of Mingyang Circuit is 5.8 billion yuan [1]

| | | 1．"明电转 02"赎回价格：100.44 元/张（含当期应计利息，当期年利率 为 1.0%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任 公司深圳分公司（以下简称"中国结算"）核准的价格为准。 2．赎回条件满足日：2025 年 11 月 20 日 9．赎回类别：全部赎回 10．根据安排，截至 2025 年 12 月 11 日收市后仍未转股的"明电转 02"将 被强制赎回，本次赎回完成后，"明电转 02"将在深圳证券交易所（以下简称 "深交所"）摘牌，特提醒"明电转 02"持券人注意在限期内转股。债券持有 人持有的"明电转 02"如存在被质押或被冻结的，建议在停止转股日前解除质 押或冻结，以免出现因无法转股而被赎回的情形。 11．债券持有人若转股，需开通创业板交易权限。投资者不符合创业板股票 适当性管理要求的，不能将所持"明电转 02"转换为股票，特提请投资者关注 不能转股的风险。 债券代码：123203 债券简称：明电转 02 深圳明阳电路科技股份有限公司 关于提前赎回"明电转 02"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、准确和完整，没有 虚假记载、误导性陈述或重 ...

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 可转换公司债券提前赎回的 法律意见书 二〇二五年十一月 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 可转换公司债券提前赎回的 法律意见书 致：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（以下简称"本所"）接受深圳明阳电路科 技股份有限公司（以下简称"明阳电路"、"发行人"或"公司"）委托，担任明 阳电路本次可转换公司债券提前赎回事项（以下简称"本次赎回"）的专项法律 顾问。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》"）、《可转换公司债券管理办法》（以下简称"《可 转债管理办法》"）、《深圳证券交易所上市公司自律监管指引第 15 号——可转换 公司债券》（以下简称"《自律监管指引第 15 号》"）等法律、法规、规章、规范 性文件、中国证券监督管理委员会（以下简称"证监会"）及深圳证券交易所（以 下简称"深交所"）规则以及《深圳明阳电路科技股份有限公司创业板向不特定 对象发行可转换公司债券募集说明书》（以下简称"《募集说明书》"）的相关规定 出具本法律意 ...

深圳明阳电路科技股份有限公司 证券代码：300739 证券简称：明阳电路 公告编号：2025-145 债券代码：123203 债券简称：明电转 02 1 表决结果：7 票同意，0 票反对，0 票弃权。 三、备查文件 第四届董事会第十次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，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 深圳明阳电路科技股份有限公司（以下简称"公司"或"明阳电路"）第四 届董事会第十次会议（以下简称"会议"）于 2025 年 11 月 20 日以现场表决结合 通讯表决的方式在公司会议室召开。因审议事项较为紧急，经全体董事一致同意， 本次会议豁免临时董事会提前三日通知的要求，会议通知已于 2025 年 11 月 18 日以邮件、电话、专人送达等方式发出。会议由公司董事长张佩珂先生主持，应 到董事 7 人，实到董事 7 人（其中董事马旭飞先生、LIN JIANWU（林健武）先生、 李娟娟女士以通讯方式出席），公司高级管理人员列席了会议。会议的召集和召 开程序符合《中华人民共和国公司法》及《公司章程》等有关规定，形成的决议 合法有效。 二、董事会会议审 ...

Core Viewpoint - The announcement from Mingyang Circuit indicates that the company's stock price has consistently exceeded 130% of the conversion price for its convertible bonds, which may trigger conditional redemption clauses in the future [2] Summary by Relevant Sections - **Stock Performance** - From October 31, 2025, to November 13, 2025, the closing price of the company's stock has not fallen below 130% of the current conversion price for 10 trading days [2] - Specifically, from October 31 to November 3, the stock price was above 130% of the conversion price of 11.74 CNY/share (15.2620 CNY/share) for 2 trading days [2] - From November 4 to November 13, the stock price was above 130% of the conversion price of 11.76 CNY/share (15.2880 CNY/share) for 8 trading days [2] - **Conditional Redemption Clause** - If the stock price continues to meet the criteria of being above 130% of the conversion price for at least 15 out of any 30 consecutive trading days, the company’s board has the right to redeem all or part of the unconverted "Mingdian Convertible Bonds 02" at face value plus accrued interest [2]

Core Insights - The Ministry of Industry and Information Technology (MIIT) is seeking public opinion on the management measures for the printed circuit board (PCB) industry, focusing on eliminating outdated capacity, encouraging technological innovation, and clarifying technical indicators to promote high-end, green, and intelligent development of the industry [1][4]. Market Expansion - The PCB market is experiencing significant expansion driven by AI demand, with high-end product output value increasing substantially [2][3]. - According to Prismark, the output value of high-layer boards (18 layers and above) and HDI boards is expected to grow by 40.3% and 18.8% year-on-year in 2024, respectively, fueled by strong demand from AI servers and high-speed networks [3]. Industry Performance - In the first three quarters of the year, the PCB industry in the A-share market, comprising 44 listed companies, reported a total revenue of 216.19 billion yuan, a year-on-year increase of 25.36%, and a net profit attributable to shareholders of 20.86 billion yuan, up 62.15% [4]. - Notably, 75% of the companies reported a year-on-year increase in net profit, with significant growth from companies like Shengyi Technology and Nanya New Material, both exceeding 100% growth [4]. Company Highlights - Shengyi Technology reported a revenue of 6.83 billion yuan, a year-on-year increase of 114.79%, and a net profit of 1.12 billion yuan, up 497.61% [4]. - Xingsen Technology achieved the fastest revenue growth among the companies, reaching 5.37 billion yuan, a 23.48% increase year-on-year, and is expanding its capacity in CSP packaging substrates [5]. Foreign Investment - As of the end of the third quarter, several PCB stocks have attracted foreign investment, with QFII holding a total market value of 16.635 billion yuan in 13 stocks [6]. - Shengyi Technology leads in QFII holdings with a market value of 15.936 billion yuan, followed by Jingwang Electronics and Junya Technology [6].

Summary of Key Points Core Viewpoint - Mingyang Circuit announced the repurchase and cancellation of restricted stocks, impacting its total share capital and stock conversion price adjustments [2] Group 1: Stock Repurchase Details - The total number of restricted stocks repurchased and canceled is 1,109,700 shares, which accounts for 0.3064% of the company's total share capital of 362,129,111 shares as of October 30, 2025 [2] - The repurchase involved 52 incentive recipients, with a total repurchase fund of 7,427,403.90 yuan sourced from the company's own funds [2] - The completion of the repurchase and cancellation has reduced the company's total shares from 362,129,111 to 361,019,411 shares [2] Group 2: Stock Conversion Price Adjustment - Following the repurchase, the conversion price of "Mingdian Transfer 02" has been adjusted from 11.74 yuan per share to 11.76 yuan per share [2] - The effective date for this conversion price adjustment is November 4, 2025 [2]

加触及 1%整数倍的公告 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。 特别提示： 1.本次权益变动属于股东持股比例因上市公司回购注销 2022 年限制性股票 激励计划部分限制性股票，其中包括实际控制人张佩珂先生持有的公司股份 150,000 股，及发行的可转换公司债券转股，导致公司总股本变动，从而导致控 股股东、实际控制人及其一致行动人合计持股比例被动增加触及 1%整数倍。 2.本次权益变动不会导致公司控股股东及实际控制人发生变化，不会影响 公司的治理结构和持续经营。 | 证券代码：300739 | 证券简称：明阳电路 | | 公告编号：2025-140 | | --- | --- | --- | --- | | 债券代码：123203 | 债券简称：明电转 | 02 | | 深圳明阳电路科技股份有限公司 关于控股股东、实际控制人及其一致行动人持股比例被动增 深圳明阳电路科技股份有限公司 董 事 会 2025 年 11 月 3 日 本次权益变动前，深圳明阳电路科技股份有限公司（以下简称"公司"）控 股股东丰县润佳玺企业管理有限公司（以下简称"润佳玺"）、实 ...