（编辑 王雪儿） 证券日报网讯 威尔高9月29日在互动平台回答投资者提问时表示，江西工厂的募投项目正按既定计划稳 步推进建设，目前，该项目进展顺利，2026年第一季度可以投产。此外，泰国工厂项目正处于产能扩充 阶段，产能正逐步释放，运营状况良好。 ...

Core Viewpoint - Weirgao's stock price has shown significant volatility, with a year-to-date increase of 61.32% but a recent decline of 4.45% over the past five trading days [2] Company Overview - Weirgao Electronics Co., Ltd. is located in Huizhou, Guangdong Province, and was established on April 7, 2017. The company went public on September 6, 2023, and specializes in the research, development, production, and sales of printed circuit boards (PCBs) [2] - The company's main business revenue composition is 87.45% from printed circuit boards and 12.55% from other businesses [2] Financial Performance - For the first half of 2025, Weirgao achieved operating revenue of 715 million yuan, representing a year-on-year growth of 58.71%. The net profit attributable to the parent company was 45.20 million yuan, up 18.31% year-on-year [2] - Since its A-share listing, Weirgao has distributed a total of 36.08 million yuan in dividends [3] Stock Market Activity - As of September 29, Weirgao's stock price was 56.07 yuan per share, with a market capitalization of 7.548 billion yuan. The trading volume was 51.89 million yuan, with a turnover rate of 1.74% [1] - The stock has appeared on the "Dragon and Tiger List" six times this year, with the most recent appearance on August 13, where it recorded a net purchase of 53.65 million yuan [2] Shareholder Information - As of August 20, the number of Weirgao's shareholders was 18,600, an increase of 13.93% from the previous period. The average circulating shares per person decreased by 12.22% to 2,901 shares [2] - As of June 30, 2025, Hong Kong Central Clearing Limited was the fourth-largest circulating shareholder, holding 723,900 shares as a new shareholder [3]

责任编辑：小浪快报 截至8月20日，威尔高股东户数1.86万，较上期增加13.93%；人均流通股2901股，较上期减少12.22%。 2025年1月-6月，威尔高实现营业收入7.15亿元，同比增长58.71%；归母净利润4520.25万元，同比增长 18.31%。 分红方面，威尔高A股上市后累计派现3607.86万元。 机构持仓方面，截止2025年6月30日，威尔高十大流通股东中，香港中央结算有限公司位居第四大流通 股东，持股72.39万股，为新进股东。大成成长进取混合A（010371）、大成科技消费股票A（008934） 退出十大流通股东之列。 9月23日，威尔高跌2.90%，成交额2.97亿元。两融数据显示，当日威尔高获融资买入额2639.43万元， 融资偿还2265.37万元，融资净买入374.06万元。截至9月23日，威尔高融资融券余额合计2.24亿元。 融资方面，威尔高当日融资买入2639.43万元。当前融资余额2.24亿元，占流通市值的7.30%，融资余额 超过近一年80%分位水平，处于高位。 融券方面，威尔高9月23日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； ...

9月18日，威尔高盘中上涨2.16%，截至11:19，报62.50元/股，成交2.47亿元，换手率7.47%，总市值 84.14亿元。 资金流向方面，主力资金净流出798.81万元，特大单买入788.07万元，占比3.19%，卖出1764.83万元， 占比7.15%；大单买入5416.87万元，占比21.95%，卖出5238.92万元，占比21.23%。 威尔高今年以来股价涨79.83%，近5个交易日涨4.55%，近20日涨10.44%，近60日涨62.38%。 今年以来威尔高已经6次登上龙虎榜，最近一次登上龙虎榜为8月13日，当日龙虎榜净买入5365.09万 元；买入总计2.51亿元 ，占总成交额比16.06%；卖出总计1.97亿元 ，占总成交额比12.63%。 资料显示，江西威尔高电子股份有限公司位于广东省惠州市惠城区期湖塘路5号惠鹏大厦办公楼10楼 1004，成立日期2017年4月7日，上市日期2023年9月6日，公司主营业务涉及印制电路板的研发、生产和 销售。主营业务收入构成为：印制电路板87.45%，其他业务是收入12.55%。 威尔高所属申万行业为：电子-元件-印制电路板。所属概念板块包括：小盘、 ...

（文章来源：证券日报） 证券日报网讯威尔高9月17日在互动平台回答投资者提问时表示，公司高导热PCB技术可满足应用于液 冷服务器散热需求，公司积极配合客户新技术、新工艺的研发，新产能的释放。 ...

Core Viewpoint - The company has successfully turned a profit and is expanding its production capacity, with a focus on multi-layer boards by the end of 2025 [2] Group 1: Company Performance - The company's factory in Thailand is currently operating at over 80% utilization [2] - The company has achieved a turnaround from loss to profit in its semi-annual performance [2] Group 2: Production Capacity and Future Plans - The company plans to expand its production capacity to 100,000 square meters per month by the end of 2025 [2] - Product offerings will primarily focus on multi-layer boards, with technology upgrades tailored to customer needs [2]

证券日报网讯威尔高（301251）9月17日在互动平台回答投资者提问时表示，公司DC-DC电源模块的研 发及量产正按计划稳步推进。相关技术会跟紧市场趋势和客户的需求，加大研发投入。 ...

Group 1 - The company, Weirgao (301251), is continuously providing PCB products to leading cloud service providers both domestically and internationally, indicating a stable supply situation [1]

威尔高所属申万行业为：电子-元件-印制电路板。所属概念板块包括：小盘、专精特新、PCB概念、工 业互联网、消费电子等。 9月16日，威尔高盘中上涨2.07%，截至09:59，报61.06元/股，成交8987.69万元，换手率2.75%，总市值 82.20亿元。 资金流向方面，主力资金净流入410.24万元，特大单买入263.21万元，占比2.93%，卖出372.92万元，占 比4.15%；大单买入2089.58万元，占比23.25%，卖出1569.63万元，占比17.46%。 威尔高今年以来股价涨75.68%，近5个交易日涨13.07%，近20日涨0.83%，近60日涨62.78%。 今年以来威尔高已经6次登上龙虎榜，最近一次登上龙虎榜为8月13日，当日龙虎榜净买入5365.09万 元；买入总计2.51亿元 ，占总成交额比16.06%；卖出总计1.97亿元 ，占总成交额比12.63%。 资料显示，江西威尔高电子股份有限公司位于广东省惠州市惠城区期湖塘路5号惠鹏大厦办公楼10楼 1004，成立日期2017年4月7日，上市日期2023年9月6日，公司主营业务涉及印制电路板的研发、生产和 销售。主营业务收入构成为： ...

Summary of Weigao Conference Call Company Overview - Weigao focuses on AI server power supply business, with 80% of products used for AI servers [2][3] - The company is currently engaged in small batch delivery certification for secondary power supplies, expecting large orders by year-end [2][3] - The GB300 series has seen a significant increase in shipment volume since September 15 [2][7] Key Points Industry and Market Position - Weigao's production capacity structure consists of 60% for back copper plates and power boards, expected to reach 65% by mid-2024 [2][5] - Display products account for approximately 20% of the capacity, with automotive electronics (mainly BYD) contributing about 8-10% [2][5] - The company produces optical modules with specifications up to 800G, without involvement in 1.6T products [2][6] Financial Performance and Projections - For 2025, Weigao anticipates revenue of approximately 1.6 billion yuan, with a target of over 2.5 billion yuan for 2026 [4][19] - The company expects a profit margin contribution of 8-10% from Thai operations in the second half of 2025, reaching a normal level of 10% by year-end [3][19] - Third-quarter performance met expectations, with increased shipments of GB300 products [20] Product Development and Upgrades - Weigao is upgrading power supplies from 5.5kW to 8kW, increasing the number of modules in GB200 and GB300 models to eight [4][11] - The Ruby project will implement HDR technology for 8kW power supplies starting in 2026, enhancing integration and value [12][8] - The company is collaborating with Delta to develop new samples and high-voltage direct current solutions [9][8] Customer Relationships and Collaborations - Weigao has a strong cooperative intention with Micromet's Thai factory but has not yet collaborated on NV products [15] - There is no current procurement or collaboration with BYD Electronics regarding NV-related products [15] Supply Chain and Capacity Expansion - The Thai production capacity expansion to 100,000 square meters is underway, with equipment expected to arrive by year-end [3][18] - The company is actively discussing the timing of capacity startup for 2025 or 2026 to ensure smooth supply [18] Challenges and Market Conditions - The company faced supply chain issues in the second quarter but has since recovered, with third-quarter performance normalizing [20] - Long-term projections for orders from Delta indicate significant growth, prompting Weigao to prepare sufficient capacity [17] Additional Insights - The optical communication sector has low order volumes, contributing minimally to revenue [5] - The company is in the design phase for HVDC-related products, with ongoing collaboration with Delta for product upgrades [14]