证券代码：300964 证券简称：本川智能 公告编号：2025-069 江苏本川智能电路科技股份有限公司 关于召开 2025 年第二次临时股东大会的通知 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。 江苏本川智能电路科技股份有限公司（以下简称"公司"）第三届董事会第 二十九次会议审议通过了《关于召开 2025 年第二次临时股东大会的议案》，决定 于 2025 年 9 月 19 日（星期五）召开 2025 年第二次临时股东大会。现将会议有关 事项公告如下： 一、召开会议的基本情况 1、会议届次：2025 年第二次临时股东大会 2、股东大会的召集人：公司第三届董事会 3、会议召开的合法、合规性：本次股东大会的召集、召开符合有关法律、 行政法规、部门规章、规范性文件、深圳证券交易所业务规则和《公司章程》 等规定。 4、会议召开时间： （1）现场会议召开时间：2025 年 9 月 19 日（星期五）下午 15:00。 （2）网络投票时间： 其中：①通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 9 月 19 日 9:15—9:25，9:30—11:30 ...

一、监事会会议召开情况 江苏本川智能电路科技股份有限公司（以下简称"公司"）第三届监事会 第二十三次会议通知于 2025 年 8 月 15 日以电子邮件、微信等通信方式向全体 监事发出，监事会于 2025 年 8 月 25 日以现场结合通讯表决方式在公司会议室 召开。本次会议应出席监事 3 名，实际出席监事 3 名（其中：以通讯表决方式 出席会议的监事 2 人），本次会议由监事会主席潘建女士召集和主持。 证券代码：300964 证券简称：本川智能 公告编号：2025-063 江苏本川智能电路科技股份有限公司 第三届监事会第二十三次会议决议公告 本公司及监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。 本次监事会会议的召集和召开符合《中华人民共和国公司法》（以下简称 《公司法》）等相关法律法规及《公司章程》《监事会议事规则》等公司内部制 度的有关规定。 二、监事会会议审议情况 本次会议经与会监事认真审议，形成如下决议： （一）审议并通过《关于〈2025 年半年度报告〉及其摘要的议案》 根据《中华人民共和国证券法》第八十二条规定和中国证券监督管理委员 会、深圳证券交易所有关 ...

一、董事会会议召开情况 江苏本川智能电路科技股份有限公司（以下简称"公司"）第三届董事会第 二十九次会议通知于 2025 年 8 月 15 日以电子邮件、微信等通讯方式向全体董 事发出，董事会于 2025 年 8 月 25 日以现场结合通讯表决方式在公司会议室召 开。本次会议应出席董事 7 名，实际出席董事 7 名（其中：以通讯表决方式出 席会议的董事 4 人）。本次会议由董事长董晓俊先生召集和主持，公司监事、高 级管理人员列席了本次会议。 本次董事会会议的召集和召开符合《中华人民共和国公司法》（以下简称 《公司法》）等相关法律法规及《公司章程》《董事会议事规则》等公司内部制 度的有关规定。 证券代码：300964 证券简称：本川智能 公告编号：2025-062 江苏本川智能电路科技股份有限公司 第三届董事会第二十九次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 二、董事会会议审议情况 本次会议经与会董事认真审议，形成如下决议： （一）审议并通过《关于〈2025 年半年度报告〉及其摘要的议案》 公司《2025 年半年度报告》及《2025 年半年 ...

（一）董事会审计委员会审议情况 江苏本川智能电路科技股份有限公司（以下简称"公司"或"本川智能"） 于 2025 年 8 月 25 日召开了第三届董事会审计委员会 2025 年第三次会议审议通 过了《关于 2025 年半年度利润分配预案的议案》，2025 年半年度利润分配预案 符合公司财务实际情况，有利于公司长远发展需要，审计委员会全体委员同意 2025 年半年度利润分配预案，并同意将该议案提交公司董事会审议。 （二）董事会审议情况 证券代码：300964 证券简称：本川智能 公告编号：2025-068 江苏本川智能电路科技股份有限公司 关于 2025 年半年度利润分配预案的公告 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。 一、审议程序 （二）本次利润分配预案调整原则 公司于 2025 年 8 月 25 日召开了第三届董事会第二十九次会议审议通过了 《关于 2025 年半年度利润分配预案的议案》。董事会认为，本次利润分配预案 符合《公司法》《上市公司监管指引第 3 号——上市公司现金分红》等相关法律、 法规及《公司章程》等公司内部制度对公司利润分配的要求， ...

Core Insights - The company reported a revenue of 379.7 million yuan for the first half of 2025, representing a year-on-year growth of 36.91% [1] - The net profit attributable to shareholders reached 21.46 million yuan, with a year-on-year increase of 37.33% [1] - The net profit excluding non-recurring gains and losses was 18.39 million yuan, showing a significant year-on-year growth of 95.86% [1] - Basic earnings per share were reported at 0.2776 yuan [1] - The company plans to distribute a cash dividend of 1 yuan (including tax) for every 10 shares to all shareholders [1]

Financial Performance - The company's operating revenue for the current period is ¥379,735,783.24, representing a 36.91% increase compared to ¥277,368,327.33 in the same period last year [20]. - Net profit attributable to shareholders for the current period is ¥21,459,715.54, up 37.33% from ¥15,626,371.66 year-over-year [20]. - The net profit after deducting non-recurring gains and losses is ¥18,390,584.19, which is a significant increase of 95.86% compared to ¥9,389,684.68 in the previous year [20]. - The company's total assets at the end of the current period are ¥1,403,614,673.07, reflecting a 7.17% increase from ¥1,309,758,027.63 at the end of the previous year [20]. - The net assets attributable to shareholders at the end of the current period are ¥1,014,323,449.86, which is a 2.37% increase from ¥990,833,624.63 at the end of the previous year [20]. - The company reported a basic earnings per share of ¥0.2776, an increase of 38.80% from ¥0.2 in the same period last year [20]. - The company's main business gross margin was 15.94%, an increase of 1.91 percentage points compared to the previous year [44]. - The total profit for the same period was CNY 26 million, reflecting a year-on-year growth of 52.17% [44]. - The company reported a net profit of 21,459,715.54 yuan attributable to shareholders for the first half of 2025 [110]. - The total distributable profit for the company in the first half of 2025 is 122,853,741.02 yuan, based on the lower of the consolidated and parent company reports [110]. Shareholder Information - The company reported a total share capital of 77,298,284 shares, with a cash dividend of 1 RMB per 10 shares (including tax) to be distributed to shareholders [5]. - The board of directors has approved the profit distribution plan during the meeting [5]. - The company plans to distribute a cash dividend of 1 yuan per 10 shares, totaling 7,632,828.40 yuan, which represents 100% of the total profit distribution [109]. - As of June 30, 2025, the company's consolidated undistributed profits amounted to 315,746,022.15 yuan, while the parent company's undistributed profits were 122,853,741.02 yuan [110]. - The company reported a profit distribution of 22.89 million to shareholders for the current period [198]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts [5]. - The report includes a section on risks faced by the company and corresponding countermeasures [5]. - The PCB industry is significantly influenced by global macroeconomic conditions, with potential impacts on revenue and profit levels if economic growth slows or experiences cyclical fluctuations [99]. - The company faces exchange rate risks due to its export business primarily settled in USD, necessitating ongoing analysis and proactive management of currency fluctuations [104]. - New production lines will require a ramp-up period, during which fixed costs may be high, posing risks to profitability if production targets are not met [104]. Production and Capacity - The company is expanding its production capacity with projects such as the annual production of 480,000 square meters of high-frequency, high-speed, multi-layer, and high-density printed circuit boards [45]. - The company also initiated a project for the annual production of 520,000 square meters of 5G high-frequency high-speed communication circuit boards [45]. - The company has established a global production and sales system with multiple production bases in China and overseas subsidiaries in Hong Kong, the USA, and Thailand [33]. - In the first half of 2025, the company's printed circuit board (PCB) production reached approximately 565,600 square meters, an increase of about 39.50% year-over-year, while PCB sales amounted to 525,200 square meters, up approximately 33.93% year-over-year [46]. - The company has completed the acquisition and upgrade of the Zhuhai Shuo Hong factory, aiming for a production capacity of 300,000 square meters for smart circuit products, focusing on high-quality and rapid delivery for the South China region [49]. Research and Development - The company invested 15 million yuan in R&D in the first half of 2025, representing an 8.82% increase year-over-year, with R&D expenses accounting for 3.88% of revenue [47]. - The product development strategy includes exploring new technology directions and special material products to meet the evolving demands of the market [35]. - The company has allocated 2,039 million for research and development to enhance its product offerings [187]. - The company has allocated 7.2 million yuan for research and development of new technologies and products in the upcoming fiscal year [191]. Corporate Governance - The financial report guarantees the authenticity, accuracy, and completeness of the information provided by the board of directors and senior management [5]. - The company has established a corporate governance structure including a shareholders' meeting, board of directors, and supervisory board [200]. - The company has not made any changes to its board of directors, supervisors, or senior management during the reporting period [108]. Market Position and Strategy - The company operates in the printed circuit board (PCB) industry, which is projected to grow globally, with a forecasted CAGR of 5.2% from 2024 to 2029 [29]. - The PCB market in mainland China is expected to reach approximately $438.34 billion by 2025, with a year-on-year growth of 6.4% [30]. - The company focuses on high-end PCB products and aims to expand into emerging fields such as low-altitude economy, robotics, and AI server power [33]. - The company aims to enhance customer loyalty and brand recognition to strengthen its competitive position in response to intensified industry competition [100]. - The company plans to actively track industry competition and adjust market strategies to mitigate risks associated with market expansion and customer acquisition [103]. Financial Management - The company has established a digital procurement platform to enhance procurement standardization and supplier evaluation [42]. - The company maintains a flexible production management system to accommodate the diverse needs of its customized products [42]. - The company has implemented a three-party supervision agreement for the management of raised funds with the sponsor and the bank [81]. - The company has utilized RMB 393.80 million of the raised funds directly for the projects during the reporting period [82]. - The company has committed to not exceeding 30% of the total raised funds for permanent working capital supplementation, in compliance with regulations [1]. Subsidiaries and Investments - The company has subsidiaries including Allfavor Technology, Inc. in the USA and Allfavor Circuit (Thailand) Co., Ltd. [11]. - The subsidiary Aiwel Circuit (Shenzhen) Co., Ltd. achieved operating revenue of 247,848,297.88 RMB, a year-on-year increase of approximately 10.53% [96]. - The net profit of Aiwel Circuit (Shenzhen) Co., Ltd. was -9,171,079.09 RMB, a year-on-year decrease of approximately 192.36% [96]. - The subsidiary Benchuan Technology (Hong Kong) Co., Ltd. achieved operating revenue of 171,729,025.29 RMB, a year-on-year increase of approximately 32.70% [98]. - The net profit of Benchuan Technology (Hong Kong) Co., Ltd. was 17,918,269.02 RMB, a year-on-year increase of approximately 346.47% [98].

Core Viewpoint - Jiangsu Benchuan Intelligent Circuit Technology Co., Ltd. is undergoing a review process for issuing convertible bonds, with specific financial accounting issues raised by the Shenzhen Stock Exchange that require clarification and quantification of revenue and profit fluctuations during the reporting period [1][3]. Financial Performance Summary - The company's operating revenue for the reporting period was 559.26 million, 510.94 million, 596.10 million, and 170.49 million yuan, with net profits after deducting non-recurring gains and losses of 34.05 million, -110.45 million, 74.60 million, and 28.18 million yuan respectively [1][11]. - The gross profit margins for the main business were 15.79%, 11.60%, 12.42%, and 15.69% during the same periods [1][19]. - The company experienced a significant drop in net profit in 2023, primarily due to decreased market demand and increased manufacturing costs, leading to a gross margin decline from 19.25% to 16.86% [11][28]. Revenue Composition and Trends - The company's revenue composition included 90.96% from main business and 9.04% from other business activities, with the latter primarily consisting of sales from waste materials [12][20]. - The company’s foreign sales accounted for 57.37%, 52.13%, 48.39%, and 50.78% of main business revenue, with major export markets being the United States and Europe [2][3]. - The company’s production capacity utilization rates were 82.68%, 77.54%, 87.40%, and 85.95% during the reporting periods [2][3]. Industry Context - The global PCB market saw a decline in value by approximately 14.96% in 2023, with a significant drop in sales prices, indicating intense competition within the industry [5][13]. - China has become the largest production area for PCBs, accounting for 56% of the global market share in 2024 [7][8]. - The PCB industry is characterized by a low concentration of manufacturers, leading to a competitive market environment [7][8]. Product and Market Dynamics - The company has established a flexible production management system to meet diverse customer specifications, which is crucial given the complexity of PCB manufacturing [8][9]. - The company has a strong focus on R&D, holding several core technologies and certifications that enhance its competitive edge in the market [9][10]. - The sales of single/double-sided boards and multi-layer boards represented significant portions of the company's revenue, with fluctuations in sales prices and volumes impacting overall profitability [15][21]. Cost and Expense Analysis - The company’s total expenses during the reporting periods were 66.32 million, 88.59 million, 90.80 million, and 27.55 million yuan, with a rising trend in sales and management expenses [25][26]. - The increase in sales expenses was attributed to efforts to expand market presence and enhance brand recognition [25][26]. - R&D expenses remained a significant part of the budget, reflecting the company's commitment to innovation and technology development [26][27].

Core Viewpoint - Jiangsu Benchuan Intelligent Circuit Technology Co., Ltd. is in the process of responding to an inquiry from the Shenzhen Stock Exchange regarding its application to issue convertible bonds to unspecified investors, indicating ongoing regulatory scrutiny and the need for compliance with disclosure requirements [1][2]. Group 1: Company Actions - The company has received an inquiry letter from the Shenzhen Stock Exchange's listing review center concerning its application for issuing convertible bonds [1]. - In response to the inquiry, the company, along with relevant intermediaries, has conducted a thorough review and provided detailed replies to the questions raised [1]. - The company has supplemented and revised its application documents accordingly and will disclose the responses and updated application files through the Shenzhen Stock Exchange's system [1]. Group 2: Regulatory Process - The issuance of convertible bonds is subject to approval from the Shenzhen Stock Exchange and requires consent from the China Securities Regulatory Commission before implementation [2]. - There is uncertainty regarding whether the company will pass the review by the Shenzhen Stock Exchange and receive the necessary registration approval from the regulatory authority [2]. - The company commits to timely information disclosure in accordance with relevant laws and regulations as the situation progresses [2].

Core Viewpoint - Jiangsu Allfavor Intelligent Technology Co., Ltd. plans to issue convertible bonds to raise funds not exceeding 490 million yuan, with Northeast Securities acting as the sponsor for the listing on the Shenzhen Stock Exchange [1][2]. Company Overview - Jiangsu Allfavor Intelligent Technology Co., Ltd. was established on August 23, 2006, and listed on August 5, 2021, with a registered capital of 77.2983 million yuan [1]. - The company specializes in the research, production, and sales of printed circuit boards (PCBs), focusing on small batch production and has accumulated extensive industry experience and technical expertise [2][3]. Main Business and Products - The company offers a diverse range of PCB products, including high-frequency and high-speed boards, flexible boards, rigid-flex boards, HDI boards, and ceramic substrates, targeting mid-to-high-end applications in communication equipment, automotive electronics, and renewable energy [3][4]. - The product categories include double-sided boards, multilayer boards, rigid boards, flexible boards, metal substrates, thick copper boards, and HDI boards, each designed for specific applications and performance requirements [4][5]. Core Technologies and R&D Level - The company has developed several core technologies, including optical module PCB processing, pulse electroplating technology, and PTFE material processing technology, enhancing its competitive edge in the communication sector and high-frequency applications [6][7][8]. - R&D investment has been significant, with R&D expenses amounting to 30.864 million yuan in 2024, representing a research expense ratio of 5.18% [11]. Financial Data and Indicators - The company reported total assets of approximately 1.353 billion yuan and total liabilities of about 350 million yuan as of March 31, 2025 [13]. - The operating income for the first quarter of 2025 was approximately 170.49 million yuan, with a net profit of about 10.13 million yuan [14]. - Key financial ratios include a current ratio of 2.20 and a quick ratio of 1.85, indicating a strong liquidity position [14][15].

东北证券股份有限公司 关于 江苏本川智能电路科技股份有限公司 向不特定对象发行可转换公司债券 之 发行保荐书 （住所：长春市生态大街 6666 号） 二〇二五年八月 本保荐人及指定的保荐代表人根据《公司法》《证券法》《证券发行上市保 荐业务管理办法》《注册管理办法》《发行证券的公司信息披露内容与格式准则 第 27 号——发行保荐书和发行保荐工作报告》等法律法规和中国证券监督管理 委员会及深圳证券交易所的有关规定，保荐人及其保荐代表人诚实守信，勤勉尽 责，严格按照依法制定的业务规则、行业执业规范和道德准则出具本发行保荐书， 并保证本发行保荐书的真实性、准确性和完整性。 除非特别注明，本发行保荐书中如无特别说明，相关用语具有与《江苏本川 智能电路科技股份有限公司向不特定对象发行可转换公司债券募集说明书》中相 同的含义。 本发行保荐书中部分合计数与各加数直接相加之和在尾数上有差异，或部分 比例指标与相关数值直接计算的结果在尾数上有差异，系四舍五入造成。 目 录 四、本次发行符合《注册管理办法》向不特定对象发行可转债的一般规定 .. 26 五、本次发行符合《注册管理办法》向不特定对象发行可转债的特殊规定 .. 30 ...