证券代码：300903 证券简称：科翔股份 公告编号：2026-010 广东科翔电子科技股份有限公司 关于公司为全资子公司提供担保的进展公告 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。 一、担保情况概述 广东科翔电子科技股份有限公司（以下简称"公司"或"科翔股份"）于 2025 年 4 月 23 日召开了第二届董事会第十九次会议、第二届监事会第十六次会议，于 2025 年 5 月 15 日召开了 2024 年年度股东大会，审议通过了《关于公司及子（孙）公司开展融 资租赁业务、向银行申请综合授信额度暨相关担保的议案》，同意公司为子（孙）公 司开展融资租赁业务、申请综合授信额度内提供不超过 45.85 亿元的连带责任保证担 保，其中为资产负债率超过 70%的子（孙）公司提供担保额度不超过 32.05 亿元，为 资产负债率不超过 70%的子（孙）公司提供担保额度不超过 13.80 亿元，以公司及子 （孙）公司与融资机构发生实际业务的担保情况为准。根据实际经营需要，在不超过 审议总额度的情况下，各融资机构之间和公司合并报表范围内的子（孙）公司（包括 但不限于所列示 ...

广东科翔电子科技股份有限公司 章程 2026 年 3 月修订 | . . | | --- | | œ | | 第二节 | 控股股东和实际控制人 | 10 | | | --- | --- | --- | --- | | 第十一章 | 附则 | | 45 | 广东科翔电子科技股份有限公司 章程 第一章 总则 第一条 为维护广东科翔电子科技股份有限公司（以下简称"公司"）、股 东、职工和债权人的合法权益，规范公司的组织和行为，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》）和其他有关规定，制订本章程。 第二条 公司系依照《公司法》《证券法》和其他有关规定由广东科翔电子 科技有限公司整体变更设立的股份有限公司。公司在惠州市市场监督管理部门注 册登记，取得股份有限公司营业执照。 第三条 公司于 2020 年 8 月 4 日经深圳证券交易所审核通过并于 2020 年 9 月 28 日经中国证券监督管理委员会（以下简称"中国证监会"）注册，首次向 社会公众发行人民币普通股 43,100,000 股，于 2020 年 11 月 5 日在深圳证券交易 所上市。 第四条 公司 ...

证券代码：300903 证券简称：科翔股份 公告编号：2026-009 广东科翔电子科技股份有限公司 关于使用募集资金向全资子公司增资以实施募投项目的公告 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。 广东科翔电子科技股份有限公司（以下简称"公司"）于 2026 年3月19日召开 第三届董事会第七次会议，审议通过《关于使用募集资金向全资子公司增资以实施 募投项目的议案》，同意公司使用部分募集资金向全资子公司智恩电子（大亚湾） 有限公司（以下简称"智恩电子 "）增资，以实施建设募投项目"智恩电子高端服务 器用PCB产线升级项目"。现将具体情况公告如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意广东科翔电子科技股份有限公司向特定 对象发行股票注册的批复》（证监许可〔2026〕76号）同意注册，公司向特定对象 发行人民币普通股（A股）20,692,141股，每股面值为人民币1.00元，发行价格为 13.87元/股，募集资金总额为人民币286,999,995.67元，扣除不含税发行费用人民币 9,942,551.71元后，实际募集资金净额为人民币27 ...

中泰证券股份有限公司 关于广东科翔电子科技股份有限公司 使用募集资金向全资子公司增资实施募投项目的核查意见 中泰证券股份有限公司（以下简称"中泰证券"或"保荐人"）作为广东科翔电子科 技股份有限公司（以下简称"科翔股份"或"公司"）2025年度以简易程序向特定对象发 行股票的保荐人，根据《证券发行上市保荐业务管理办法》《上市公司募集资金监 管规则》《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2号——创业板上市公司规范运作》等有关规定，对科翔股份使用募集资 金向全资子公司增资实施募投项目的事项进行了核查，核查情况及核查意见如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意广东科翔电子科技股份有限公司向特定 对象发行股票注册的批复》（证监许可〔2026〕76号）同意注册，公司向特定对象 发行人民币普通股（A股）20,692,141股，每股面值为人民币1.00元，发行价格为 13.87元/股，募集资金总额为人民币286,999,995.67元，扣除不含税发行费用人民币 9,942,551.71元后，实际募集资金净额为人民币277,057,443.96元。截至2026年1 ...

广东科翔电子科技股份有限公司 证券代码：300903 证券简称：科翔股份 公告编号：2026-008 二、《公司章程》修改情况 公司拟根据本次以简易程序向特定对象发行股票实际情况及注册资本变化情况，对 公司注册资本及《公司章程》相关条款进行相应修订。具体修改情况如下： | 序号 | 修订前 | 修订后 | | --- | --- | --- | | 1 | 第六条 公司注册资本为41,469.4422 | 第六条 公司注册资本为43,538.6563万 | | | 万元（人民币万元，下同）。 | 元（人民币万元，下同）。 | | 2 | 第 二 十 条 公 司 股 份 总 数 为 414,694,422股，所有股份均为普通 | 第二十条 公司股份总数为435,386,563 | | | | 股，所有股份均为普通股。 | | | 股。 | | 《公司章程》其余条款不变。本次修订在2024年年度股东大会审议通过的《关于提 请股东大会授权董事会办理以简易程序向特定对象发行股票相关事宜的议案》的股东会 对董事会的授权范围内。董事会授权公司工作人员办理后续工商变更登记相关事宜，授 权的有效期限自本次董事会审议通过之日起 ...

证券代码：300903 证券简称：科翔股份 公告编号：2026-007 广东科翔电子科技股份有限公司 第三届董事会第七次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、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 广东科翔电子科技股份有限公司（以下简称"公司"）第三届董事会第七次会 议于 2026 年 3 月 19 日（星期四）在惠州大亚湾西区龙山八路 9 号公司会议室以 现场结合通讯的方式召开。会议通知已于 2026 年 3 月 16 日通过邮件的方式送达 各位董事。本次会议由公司董事长郑晓蓉女士召集并主持，应出席董事 5 人，实 际出席董事 5 人，高级管理人员列席。 本次会议的召集、召开及表决程序符合《中华人民共和国公司法》和《公司 章程》的有关规定，会议合法、有效。 二、董事会会议审议情况 经与会董事认真审议，充分讨论，审慎表决，会议审议通过了以下议案： （一）审议通过《关于变更注册资本、修订<公司章程>并办理工商变更登 记的议案》 经中国证券监督管理委员会《关于同意广东科翔电子科技股份有限公司向特 定对象发行股票注册的批复》（证监许可〔2026〕76 号）同 ...

Group 1 - Zhongji Xuchuang (300308) is a leading global player in the high-speed optical module sector, deeply tied to major North American cloud providers like Nvidia, Microsoft, and Google, making it a core beneficiary during the AI computing power explosion [1][24] - The company maintains a strong position in the global market for 800G and 1.6T high-speed optical module shipments, with a continuous upgrade in product structure towards high-end offerings, leading to steady improvements in gross margin and profitability [1][24] - With the large-scale rollout of Nvidia's GB300 and Rubin next-generation computing platforms, the demand for optical modules per machine has significantly increased, driving a sustained high growth in orders for the company [1][24] Group 2 - Xinyi Technology (300502) focuses on the research, production, and sales of high-speed optical modules, ranking among the few domestic companies with global competitiveness, particularly in the 400G and 800G high-end module sectors [2][25] - The company has a high proportion of overseas revenue and is closely tied to major global cloud providers and equipment manufacturers, resulting in high order visibility and outstanding delivery capabilities [2][25] - Benefiting from the accelerated construction of AI data centers and the explosive demand for high-speed interconnects, the company is seeing a continuous increase in the proportion of high-end products and an ongoing optimization of profitability [2][25] Group 3 - Luxshare Precision (002475) has rapidly entered the high-speed optical module market, becoming an important partner for leading international companies like Nvidia, leveraging its advanced manufacturing and supply chain integration capabilities [3][26] - The company has significant advantages in optical module structural components, packaging processes, and thermal solutions, allowing it to quickly respond to large-volume orders from major clients [3][26] - As AI computing demand continues to surge, the optical module business is emerging as a new growth curve for the company, supported by stable cash flow and technological synergies from its experience in consumer and automotive electronics [3][26] Group 4 - Shengyi Technology (600183) is a global leader in the field of copper-clad laminates and high-frequency materials, serving as a core upstream supplier for optical modules, servers, and data center hardware [4][27] - The demand for high-frequency and high-speed copper-clad laminates is continuously increasing due to the growth of high-speed optical modules, with the company maintaining a leading position in related materials technology and comprehensive customer coverage [4][27] - The company benefits from the accelerated construction of AI computing infrastructure and the rapid iteration of data center hardware, leading to a steady improvement in profitability [4][27] Group 5 - Pengding Holdings (002938) is a global leader in high-end printed circuit board (PCB) research, production, and sales, holding a significant position in the PCB market for high-speed communication, servers, and optical modules [5][28] - The requirements for PCB layers, precision, and signal integrity have significantly increased due to 800G and 1.6T high-speed optical modules, with the company demonstrating industry-leading technical strength and process levels [5][28] - The company is experiencing rapid growth in high-speed PCB demand as AI data center construction accelerates, leading to improvements in revenue and gross margin [5][28] Group 6 - Hengtong Optic-Electric (600487) has become a domestic industry leader by leveraging its advantages across the entire optical communication industry chain, with core competitiveness in optical modules, optical fibers, and marine communications [6][29] - The company’s high-speed optical module products cover 400G and 800G high-speed rates, achieving bulk shipments in data centers and computing interconnect scenarios [6][29] - With significant investments in silicon photonics and CPO co-packaging optical technology, the company is well-positioned to benefit from the increased global investment in computing infrastructure and the explosive demand for optical modules [6][29]

Group 1 - Mingyang Circuit focuses on the R&D, production, and sales of printed circuit boards (PCBs), covering high multilayer boards, HDI boards, and rigid-flex boards, widely used in industrial control, communication equipment, and automotive electronics. The demand for high-reliability, high-density PCBs is continuously growing due to industrial automation upgrades, 5G communication network construction, and the increasing penetration of new energy vehicles [1][32] - Weirgao specializes in the R&D, production, and sales of electronic-grade special epoxy resins and related composite materials, which are key raw materials for PCBs. The demand for high-frequency, high-temperature, and low-loss materials is increasing in 5G communication, data centers, and new energy vehicles, leading to an expanding market space for specialty epoxy resins [2][33] - Qiangda Circuit focuses on the R&D, production, and sales of high-density interconnect printed circuit boards (HDI), widely used in consumer electronics such as smartphones and tablets. The market demand for high-end products like high multilayer HDI and AnyLayer HDI is continuously growing due to the recovery of the consumer electronics market and the upgrade of smart terminal functions [3][34] Group 2 - Benchuan Intelligent specializes in the R&D, production, and sales of PCBs, with core products including communication boards, automotive boards, and industrial control boards. The market demand for high-reliability, high-frequency PCBs is expanding due to the construction of 5G base stations and the upgrade of new energy vehicle systems [4][35] - Kexiang Co., Ltd. focuses on the R&D, production, and sales of HDI and high multilayer boards, covering various fields including consumer electronics and automotive electronics. The demand for high-end PCBs is continuously growing due to the functional upgrades of consumer electronics and the increasing demand for automotive electronic systems [5][36] - Jinlu Electronics specializes in the R&D, production, and sales of PCBs, with core products including automotive electronic boards and communication boards. The demand for high-reliability, high-integration PCBs is continuously growing due to the increasing penetration of new energy vehicles and the deep coverage of 5G networks [6][37] Group 3 - Shengyi Technology is a leading global supplier of copper-clad laminates (CCL) and related electronic materials, with products widely used in PCBs and electronic packaging. The demand for high-end copper-clad laminates is continuously expanding due to the increasing demand for high-frequency, high-temperature materials in 5G communication and data centers [7][38] - Xiehe Electronics focuses on the R&D, production, and sales of PCBs, including high-frequency and high-speed boards. The market demand for high-end products is continuously growing due to the advancement of 5G networks and the expansion of new energy vehicle systems [8][39] - Shiyun Circuit specializes in the R&D, production, and sales of PCBs, covering automotive electronics, consumer electronics, and industrial control. The demand for high-reliability, high-integration automotive PCBs is continuously growing due to the increasing complexity of in-vehicle electronic systems [9][40]

Company Overview - 科翔股份 is a leading digital PCB enterprise with over 20 years of experience in the PCB industry, having established a strategic presence in five locations: Huizhou, Shenzhen, Jiujiang, Ganzhou, and Shangrao, with seven business divisions [1] - The company offers a one-stop full-category PCB supply capability, capable of large-scale production of double-sided boards, multi-layer boards, HDI boards, thick copper boards, and ceramic substrates [1] Financial Performance - In the first three quarters of 2025, the company achieved a revenue of 2.727 billion yuan, representing a year-on-year increase of 10.10%, while reporting a net loss attributable to shareholders of 120 million yuan [1] - The company forecasts a net loss attributable to shareholders of 170 to 230 million yuan for 2025, a significant reduction from a loss of 340 million yuan in the same period of 2024, primarily due to the ramp-up of production capacity at its Jiangxi factory and rising raw material prices [1] Industry Trends - The AI sector is identified as the largest growth driver for the PCB industry, with the global PCB market expected to reach a value of 78.562 billion USD by 2025, and a compound annual growth rate (CAGR) of 4.8% from 2025 to 2029 [1] - The server/storage segment is projected to account for 15% of the overall PCB market by 2025, with a CAGR of 11.6% from 2025 to 2029 [1] Technological Advancements - The evolution of AI servers is driving the widespread application of high-layer PCBs, with the number of layers in mainstream AI server multi-layer boards increasing from over 16 layers to 40 layers and above [2] - CoWoP (Chip-on-Wafer-on-PCB) technology is expected to exceed expectations, simplifying the connection structure between chips and PCBs, leading to reduced signal loss and improved heat dissipation [2] - Ceramic substrates are effectively addressing the thermal resistance challenges of high-end HDI and CoWoP packaging stability, offering superior thermal conductivity compared to traditional FR-4 materials [2][3] Capacity Expansion and Future Outlook - The company has made significant investments in capacity expansion since 2022, with total capacity exceeding 10 million square meters, and plans to gradually release new production lines in the second half of 2023 [3] - As production capacity ramps up, the company is expected to reach a performance inflection point in 2026, with profit margins for PCB products anticipated to recover to industry levels [3] - The company is focusing on high-performance ceramic substrate technology innovation, leveraging advanced materials and processes to meet the demands of high-power applications [4] - Forecasted net profits for the company from 2025 to 2027 are projected to be -200 million, 240 million, and 470 million yuan, respectively, with significant year-on-year growth rates [4]

Core Viewpoint - Company is actively pursuing financing, operational improvements, and strategic partnerships to enhance its market position in the high-end server PCB and ceramic substrate sectors, particularly in response to AI hardware demand [1][3]. Financing Progress - Company submitted a registration application for a private placement of shares on January 5, 2026, aiming to raise 287 million yuan, primarily for upgrading the PCB production line for high-end servers and supplementing working capital. The issue price is set at 13.87 yuan per share with a lock-up period of 6 months [1]. Performance Outlook - On January 30, 2026, the company announced a profit forecast for 2025, expecting a net loss attributable to shareholders of between 230 million yuan and 170 million yuan, representing a reduction in loss by 33.07% to 50.53% compared to the previous year. This is mainly due to rising raw material costs and increased depreciation during the ramp-up of production capacity at the Jiangxi factory [2]. Business Development - As of January 27, 2026, the subsidiary Guangzhou Taoji Electric is advancing cooperation with NV on ceramic substrates and is expected to secure related orders for HW servers, although specific agreement amounts have not been disclosed. The company is focusing on high-end server PCBs and ceramic substrates to meet AI hardware demands, while adjusting its product structure to reduce reliance on traditional consumer electronics clients [3]. Financial Condition - As of September 30, 2025, the company's debt-to-asset ratio reached 73.61%, with accounts receivable at 1.762 billion yuan and high inventory levels, indicating cash flow pressure. Several investment projects by subsidiaries have faced completion delays, potentially leading to tax incentive recoveries or breach of contract liabilities. The controlling shareholder has a high share pledge ratio of 42.42% as of September 30, 2025, raising concerns about control stability [4].