Group 1 - The core point of the article is that Zhongfu Circuit announced the establishment of an investment fund in collaboration with professional investment institutions [1] - The company plans to invest in the Wuxi Paipu Spring Sunshine Venture Capital Fund Partnership (Limited Partnership) with Beijing Paipu Private Fund Management Co., Ltd. and Shenzhen Boke New Materials Co., Ltd. as partners [1] - The total committed capital from all partners is set at RMB 25 million, with the company contributing RMB 1 million, representing 4% of the total investment [1] Group 2 - The investment fund has completed its registration and obtained a business license [1]

证券代码：300814 证券简称：中富电路 公告编号：2025-091 深圳中富电路股份有限公司 关于与专业投资机构共同投资设立产业投资基金的进展公告 根据《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司 自律监管指引第7号——交易与关联交易》等相关规定，本次与专业投资机构共 同投资无需提交公司董事会或股东大会审议。根据《深圳证券交易所创业板股 票上市规则》《深圳中富电路股份有限公司章程》等相关规定，本次对外投资 属于总经理权限范围内并已经公司总经理办公会审议通过。本次与专业投资机 构共同投资不构成关联交易，亦不构成《上市公司重大资产重组管理办法》规 定的重大资产重组。具体内容详见公司于巨潮资讯网（http://www.cninfo.com.cn） 披露的《关于与专业投资机构共同投资设立产业投资基金的公告》（公告编号： 2025-079）。 二、对外投资进展 近日，该投资基金已完成了注册登记手续，并取得了营业执照。现将具体 注册信息公告如下： 1、企业名称：嘉兴湃圃春之阳创业投资合伙企业（有限合伙） 2、出资额：贰亿伍仟万元整 3、类型：有限合伙企业 本公司及董事会全体成员保证信息披露的内容真实、 ...

Group 1 - CPO concept stocks experienced a downturn on September 2, with Cambridge Technology hitting the daily limit down [1] - Ruijie Networks fell over 10%, while Dekoli, Taichengguang, Zhongfu Circuit, and Tianfu Communication all dropped more than 7% [1]

Core Viewpoint - A new venture capital firm named Jiaxing Paipu Spring Sunshine Venture Capital Partnership (Limited Partnership) has been established with a total investment of 250 million yuan, focusing on investing in unlisted companies [1] Group 1: Company Involvement - The new venture capital firm is co-funded by Platinum Technology (300811) and Zhongfu Circuit (300814) [1]

Group 1 - A new venture capital firm named Jiaxing Paipu Chunzhiyang Investment Partnership (Limited Partnership) has been established with a capital contribution of 250 million yuan [1] - The business scope of the new firm includes venture capital, specifically limited to investments in unlisted companies [1] - The firm is co-funded by companies such as Botek New Materials (300811) and Zhongfu Circuit (300814) [1]

Group 1 - The company reported a revenue of 849 million yuan for the first half of 2025, representing a year-on-year growth of 27.84% [1] - The net profit attributable to shareholders of the listed company was 16.78 million yuan, showing a year-on-year decline of 34.13% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 13.15 million yuan, down 30.08% year-on-year [1] - The basic earnings per share were 0.09 yuan [1]

Summary of Key Points Core Viewpoint - Shenzhen Zhongfu Circuit Co., Ltd. reported a significant increase in revenue but faced a decline in net profit and cash flow, indicating potential operational challenges and rising costs [1][2]. Financial Performance - The company achieved a revenue of 849 million yuan in the first half of 2025, representing a year-on-year growth of 27.84% [1]. - Net profit attributable to shareholders was 16.78 million yuan, a decrease of 34.13% compared to the previous year [1]. - Operating cash flow turned negative, dropping from 74.79 million yuan in the same period last year to -35.57 million yuan [1]. Cost and Profitability - Operating costs increased by 26.25%, while gross margin only slightly improved by 1.24 percentage points to 16.91% [1]. - Management expenses surged by 102.55% to 37.82 million yuan, primarily due to the expansion of production scale and increased management personnel, as well as costs associated with the establishment of the factory in Thailand [1]. Asset Management - Accounts receivable rose to 414 million yuan, and inventory increased to 491 million yuan, together accounting for 47% of current assets [1]. - The company attributed the increase in receivables and payables to "increased notes receivable and payment limits," but did not disclose specific measures for improvement [1]. Investment in Thailand - The company has invested a total of 271 million yuan in its production base in Thailand, but only realized a revenue of 211,100 yuan during the reporting period [1]. - The Thai factory is currently facing management, operational, and market risks, with significant uncertainties due to cultural differences and varying regulations [1]. - The factory is still in the capacity ramp-up phase, with insufficient production line utilization, yet the company continued to invest an additional 48.03 million yuan during the reporting period [2].

Core Insights - The company reported a total revenue of 849.14 million yuan for the first half of 2025, representing a year-on-year increase of 27.84% [3] - However, the net profit attributable to shareholders decreased by 34.13% to 16.78 million yuan, and the net profit after deducting non-recurring gains and losses fell by 30.08% to 13.15 million yuan [3][4] - The company experienced a significant decline in cash flow from operating activities, which turned negative at -35.57 million yuan, a decrease of 147.56% compared to the previous year [3] Financial Performance - Revenue growth was primarily driven by three core business areas: communication and data center business grew approximately 75%, semiconductor packaging applications increased by about 84%, and automotive electronics contributed a stable growth of around 35% [3][4] - Basic earnings per share decreased by 35.71% to 0.09 yuan, while diluted earnings per share fell by 40% to 0.09 yuan [3] - The weighted average return on net assets dropped to 1.19%, down by 0.99% from the previous year [3] Asset and Equity Position - Total assets at the end of the reporting period reached 3.17 billion yuan, reflecting a 6.09% increase from the end of the previous year [3] - The net assets attributable to shareholders increased by 36.44% to 1.63 billion yuan [3] Business Operations and Client Base - The company has established a stable customer base across various sectors, including communication, industrial control, automotive electronics, consumer electronics, and semiconductor packaging, maintaining long-term partnerships with numerous well-known domestic and international enterprises [2] - The company’s products are exported to Europe, Asia, and the Americas, and it focuses on high-reliability, high-performance printed circuit board demands [2] Production Facilities - The company operates four production bases: ShaJing, SongGang, HeShan, and Thailand, each specializing in different production scales and product types [3] - The production bases enable the company to offer a wide range of products, including single/double-layer boards, multi-layer boards, and high-frequency boards, catering to various electronic information product applications [4]

Group 1 - The company Zhongfu Circuit (SZ 300814) held its 21st meeting of the second board on August 27, 2025, to review the semi-annual report for 2025 and related documents [1] - For the first half of 2025, the company's revenue composition was 89.34% from printed circuit boards and 10.66% from other businesses [1]

深圳中富电路股份有限公司 董事会提名委员会工作细则 第一章 总 则 第一条 为规范深圳中富电路股份有限公司（以下简称"公司"）领导人员 的产生，优化董事会、管理层的组成，完善公司治理结构，根据《中华人民共和 国公司法》《深圳中富电路股份有限公司章程》（以下简称"《公司章程》"） 及其他有关规定，公司特设立董事会提名委员会，并制定本工作细则（以下简称 "本细则"）。 第二条 董事会提名委员会是董事会按照股东会决议设立的专门工作机构， 主要负责对公司董事和高级管理人员的人选、选择标准和程序进行选择并提出建 议。 第二章 人员组成 第三条 董事会提名委员会成员由三名董事组成，其中独立董事过半数。 第四条 董事会提名委员会委员由董事长、二分之一以上独立董事或者全体 董事的三分之一以上提名，并由董事会选举产生。 第五条 董事会提名委员会设主任委员（召集人）一名，由独立董事委员担 任，负责主持委员会工作；主任委员由提名委员会全体委员过半数选举产生。 第六条 董事会提名委员会任期与董事会任期一致，委员任期届满，连选可 以连任。期间如有委员不再担任公司董事职务，其委员资格自其不再担任董事之 时自动失去，并由董事会根据上述第三 ...