证券代码：301366 证券简称：一博科技 公告编号：2025-039 深圳市一博科技股份有限公司 第三届董事会第六次会议决议公告 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。 一、董事会会议召开情况 深圳市一博科技股份有限公司（以下简称公司）第三届董事会第六次会议通 知于2025年9月18日以微信、电子邮件等方式向全体董事及高级管理人员发出， 会议于2025年9月24日以腾讯会议通讯表决方式召开，本次会议由董事长汤昌茂 先生主持，会议应出席董事8名，实际出席董事8名，全体董事以通讯方式参会， 公司部分高级管理人员列席了会议。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》《中华人民共和国证券法》《上市公司治理准则》等有关 法律、行政法规、规范性文件（以下统称法律法规）和《深圳市一博科技股份有 限公司章程》（以下简称《公司章程》）的规定，会议决议合法有效。 二、董事会会议审议情况 （一）会议以 8 票同意，0 票反对，0 票弃权，0 票回避，审议通过了《关 于使用部分暂时闲置募集资金及自有资金进行现金管理的议案》 经审议，董事会认为： 同意公司及 ...

Group 1 - The company has started large-scale production at its Zhuhai and Tianjin PCBA factories, with production operations steadily improving and capacity utilization increasing [1] - The company aims to expand its customer base and deepen cooperation with existing clients, enhancing its one-stop service capabilities to meet customer needs with convenient, fast, and high-quality services [1] - The company encourages stakeholders to refer to its disclosed periodic reports for more specific information regarding orders and production status [1]

Group 1 - The company announced that it will hold the 2025 Employee Representative Assembly on September 12, 2025 [2] - The assembly agreed to elect Mr. Cao Hong as the employee representative director of the company's fourth board of directors [2]

Group 1 - The core viewpoint of the article is that Yibo Technology (SZ 301366) is set to hold an investor meeting on September 9, 2025, where the company's chairman and general manager will address investor inquiries [1] - Yibo Technology's revenue composition for the year 2024 is as follows: Network Communication 29.42%, Industrial Control 28.67%, Integrated Circuits 11.72%, Medical Electronics 9.03%, Artificial Intelligence 8.97%, and Smart Transportation 5.42% [1] - As of the report, Yibo Technology has a market capitalization of 8 billion yuan [1]

Company Overview - Established in 2003, focusing on PCB design technology services with over 800 R&D engineers [1] - Provides high-quality PCB and PCBA manufacturing services, specializing in rapid prototyping and small batch production [1] - Serves over 3,000 clients across various industries including telecommunications, industrial control, AI, and aerospace [1] Business Model - PCB design revenue accounts for approximately 20%, while PCBA manufacturing revenue constitutes about 80% [3] - Around 70% of clients opt for both PCB design and PCBA manufacturing services [3] - The company aims to create a one-stop hardware innovation platform, enhancing customer trust and collaboration [2] Competitive Advantage - Differentiates from traditional PCB manufacturers by offering a comprehensive service platform that includes design, component supply, and assembly [4] - Focuses on high-value R&D innovation, making it less comparable to conventional PCB factories [4] Client Segmentation - Industrial control clients represent a significant portion of the customer base, with some already in small batch production [8] - AI-related clients span various applications, with expectations of revenue growth in the next 2-3 years [9] Supply Chain and Cost Management - High direct costs primarily due to chip procurement, with a focus on customer-specific material needs [6] - Collaborates with over 8,000 global clients, leveraging extensive data for component selection [7] International Operations - In 2024, overseas revenue reached approximately RMB 64.19 million, accounting for 7.23% of total revenue [10] - Exports to the U.S. represent less than 5% of overall revenue, with minimal impact from tariffs [10] Production Capabilities - Currently capable of producing PCBs with over 10 layers, with a maximum capability of 120 layers [11] - The new Zhuhai factory focuses on high-end rapid delivery services, with plans for future expansion based on operational stability [12][13]

Core Viewpoint - The company emphasizes its focus on providing high-speed PCB R&D design, PCB and PCBA prototyping, and small to medium batch manufacturing services, leveraging its technical advantages to attract more orders from major clients [2]. Group 1: Company Strategy - The company is engaged in R&D and design of PCBs, aiming to establish itself as a key player in the industry by participating early in client product development and leveraging its information and first-mover advantages [2]. - The company has a professional simulation analysis team that is proficient in cutting-edge technologies related to signal integrity, power integrity, and electromagnetic compatibility in PCB design and simulation [2]. Group 2: Client Relationships - Currently, most of the company's clients are introduced through PCB design, and while there are collaborations with major companies like Google and Nvidia, the monetary value of these partnerships remains limited [2]. - The company anticipates that with the production and gradual improvement of its Zhuhai board factory and fundraising projects, it will attract more clients, including some leading technology firms, to increase cooperation and provide medium batch high-end PCB production and PCBA processing services [2].

Group 1 - The core viewpoint of the report is the assessment of the sponsorship work conducted by China International Capital Corporation (CICC) for Shenzhen Yibo Technology Co., Ltd, highlighting the compliance and oversight measures taken [1] - CICC has reviewed the company's information disclosure documents timely, with no instances of delayed reviews [1] - The company has established and effectively executed relevant regulations, including those to prevent related party transactions and manage raised funds [1] Group 2 - CICC conducted monthly checks on the company's fundraising special account, confirming that the project progress aligns with the disclosed information [1] - The report indicates that CICC attended one supervisory board meeting and reviewed meeting documents beforehand [1] - CICC issued two special opinions during the review process, with no non-consent opinions raised [1] Group 3 - There were no significant issues identified by CICC regarding the company's external investments or financial support [1] - The company and its shareholders have fulfilled their commitments, with no reasons for non-fulfillment reported [1] - CICC plans to conduct training in the second half of 2025, with no training sessions held to date [1] Group 4 - CICC has appointed a new representative, Li Jinhua, to continue the ongoing supervision of the company, ensuring no disruption in oversight [2] - The report mentions a regulatory warning received by CICC from the Shenzhen Stock Exchange due to insufficient verification of internal controls related to R&D investments and revenue recognition [2] - CICC is actively working on rectifying the issues highlighted in the regulatory warning [2]

中国国际金融股份有限公司 关于深圳市一博科技股份有限公司 2025 年半年度持续督导跟踪报告 | 项 目 | 工作内容 | | --- | --- | | 6.发表专项意见情况 | | | （1）发表专项意见次数 | 2 次 | | （2）发表非同意意见所涉问题及结论意见 | 无 | | 7.向本所报告情况（现场检查报告除外） | | | （1）向本所报告的次数 | 0 次 | | （2）报告事项的主要内容 | 不适用 | | （3）报告事项的进展或者整改情况 | 不适用 | | 8．关注职责的履行情况 | | | （1）是否存在需要关注的事项 | 否 | | （2）关注事项的主要内容 | 不适用 | | （3）关注事项的进展或者整改情况 | 不适用 | | 9.保荐业务工作底稿记录、保管是否合规 | 是 | | 10.对上市公司培训情况 | | | （1）培训次数 | 次，拟于 年下半年开展培训 0 2025 | | （2）培训日期 | 不适用 | | （3）培训的主要内容 | 不适用 | | 11.其他需要说明的保荐工作情况 | 无 | 二、保荐人发现公司存在的问题及采取的措施 | 事 项 | 存在的问题 ...

Summary of Conference Call on Su Lian Co., Ltd. and UQD Market Company and Industry Overview - The conference call discusses Su Lian Co., Ltd. and the server liquid cooling UQD (Quick Connect Disconnector) market, which is projected to reach a market size of 20 billion RMB, with potential for even higher growth [2][4]. Core Insights and Arguments - The UQD market is expected to account for approximately 10% of the total server liquid cooling market value, translating to around 20 billion RMB by 2030 [4]. - Compared to the automotive thermal management market, the UQD market could potentially reach half the size of the global automotive thermal management piping and connector market [2][4]. - UQD technology has high barriers to entry, requiring strict no-leak technology, optimized flow rates, pressure drop management, and intuitive visual identification and automatic connection features [5]. - Domestic companies are rapidly developing in the server liquid cooling UQD sector, but the competitive landscape is still forming, with no long-established players like Parker Hannifin or Stäubli [6]. Su Lian Co., Ltd. Advantages - Su Lian Co., Ltd. has a strong foundation in the nylon piping market and extensive customer relationships, particularly in the new energy vehicle thermal management sector [2][7]. - The company has developed capabilities in injection mold design and product testing, which are crucial for entering the server liquid cooling UQD market [7]. - Su Lian Co., Ltd. has a comprehensive customer base in the new energy vehicle sector, including major players like Changan, BYD, and CATL, providing solutions across battery packs, chassis, motors, and air conditioning [8]. Upstream Industry Chain Development - The company has enhanced its precision mold processing and equipment design capabilities, which significantly benefit high-end new energy vehicles and complex server liquid cooling systems [9]. Recent Developments - Su Lian Co., Ltd. has established a subsidiary, Su Lian Intelligent Control, to expand into the intelligent computing market, aiming for multiple growth trajectories beyond the UQD market [3][10]. Market Outlook and Risks - The liquid cooling industry presents numerous opportunities, especially for companies transitioning from new energy vehicle thermal management systems [11]. - Risks include the potential underperformance of UQD development and significant increases in raw material prices [11].

Financial Performance - The company reported a total revenue of 500 million yuan for the first half of 2025, representing a year-on-year increase of 21.7% [1] - The net profit attributable to shareholders was 3.84 million yuan, a significant decline of 93.0% compared to the previous year [1] - The gross margin decreased to 27.1%, down 24.78% year-on-year, while the net margin fell to 0.77%, a drop of 94.14% [1] - The total of selling, administrative, and financial expenses reached 70.86 million yuan, accounting for 14.16% of revenue, an increase of 13.95% year-on-year [1] - Earnings per share dropped to 0.02 yuan, a decrease of 93.01% compared to the previous year [1] Accounts Receivable and Financial Ratios - The company's accounts receivable reached 286 million yuan, which is 223.78% of the latest annual net profit, indicating a large receivables burden [1][4] - The return on invested capital (ROIC) for the previous year was 3.14%, indicating weak capital returns, with a historical median ROIC of 21.78% since the company went public [3] Business Model and R&D Focus - The company's performance is primarily driven by R&D and capital expenditures, necessitating careful evaluation of the effectiveness of these investments [3] - The company is focusing on advanced PCB technologies for next-generation servers, emphasizing the need for high precision in impedance and back-drilling processes [5]