近日，公司自有资金购买的现金管理产品进行了到期赎回，相应本金及收益 均归还至公司账户。公司继续使用部分暂时闲置自有资金进行现金管理，现就有 关事宜公告如下： 序 号 受托方 产品名称 产品 类型 认购金 额（万 元） 起息日 到期日 预计年化 收益率 资金 来源 1 天府证券有限责任 公司 天府证券有 限责任公司 宏福宝 73 号收益凭证 收益 凭证 2,000 2025 年 9 月 5 日 2025 年 12 月 29 日 2.15% 闲置 自有 资金 一、本次使用闲置自有资金进行现金管理的情况 | 序 | 受托方 | 产品名称 | 产品 | 认购金 额（万 | 起息日 | | 到期日 | | 预计年化 | 资金 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | | | 类型 | 元） | | | | | 收益率 | 来源 | | 2 | 宁波银行股份有限 | 单位结构性 | 结构 | | 2025 | 年 9 | 年 2026 3 | 月 | | 闲置 自有 | | | 公司深圳分行 | 存款 | 性存 ...

招商证券股份有限公司 关于深圳市强达电路股份有限公司 2025 年半年度持续督导跟踪报告 | 保荐人名称：招商证券股份有限公司 | 被保荐公司简称：强达电路 | | --- | --- | | 保荐代表人姓名：吴茂林 | 联系电话：0755-82943666 | | 保荐代表人姓名：刁雅菲 | 联系电话：0755-82943666 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 0 | | 2.督导公司建立健全并有效执行规章制度的 | | | 情况 | | | （1）是否督导公司建立健全规章制度（包括 | | | 但不限于防止关联方占用公司资源的制度、募 集资金管理制度、内控制度、内部审计制度、 | 是 | | 关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 每月 1 次 | | （2）公司募集资金项目进展是否与信息披露 | 是 | | 文件一 ...

Investment Rating - The report maintains a "Hold" rating for the company [3][5]. Core Insights - The company's revenue for H1 2025 reached 456 million yuan, representing a year-over-year increase of 17.25%, while net profit attributable to shareholders was 59 million yuan, up 4.87% year-over-year [1][2]. - The growth in the industrial control and communication sectors is driven by the recovery in industrial automation and the demand for computing infrastructure, with projected revenue for 2025 expected to reach 940 million yuan, a 19% increase year-over-year [2][3]. - The company's product structure optimization has led to improved gross margins, with Q2 2025 gross margin increasing by 1.77 percentage points, and expectations for Q3 2025 gross margin to reach 32% [2][3]. Financial Data and Valuation - For 2025, the company is projected to have a revenue of 944 million yuan and a net profit of 128 million yuan, with corresponding P/E ratios of 60x and 48x for 2025 and 2026 respectively [4][3]. - The company's gross margin for H1 2025 was 30.36%, with a net margin of 12.89% [1][2]. - The report forecasts EPS of 1.70 yuan for 2025, with a projected P/E ratio of 60 [4][3].

Company Overview - Company Name: Shenzhen Qiangda Circuit Co., Ltd [1] - Stock Code: 301628.SZ [1] - IPO Application Date: June 21, 2022 [1] - Listing Date: October 31, 2024 [1] - Listing Board: Shenzhen ChiNext [1] - Industry: Manufacturing of Computers, Communications, and Other Electronic Devices [1] - IPO Sponsor: China Merchants Securities [1] - IPO Underwriters: China Merchants Securities [1] - IPO Legal Advisor: Guangdong Xinda Law Firm [1] - IPO Audit Firm: Zhonghui Certified Public Accountants [1] Performance Evaluation - Disclosure Issues: The issuer did not disclose information regarding subcontractors and was required to clarify its innovation characteristics [1] - Regulatory Penalties: No penalties were imposed [1] - Public Supervision: No penalties were imposed [1] - Listing Cycle: The average listing cycle for A-share companies in 2024 is 629.45 days, while Qiangda Circuit's cycle is 863 days, exceeding the average [1] - Multiple Applications: The company is not categorized as having multiple applications [1] Financial Metrics - Issuance Costs: The underwriting and sponsorship fees amount to 47.155 million yuan, with a commission rate of 8.88%, higher than the average of 7.71% [2] - First Day Performance: The stock price increased by 387.93% on the first day of listing [2] - Three-Month Performance: The stock price rose by 245.28% within three months of listing [3] - Issuance Price-Earnings Ratio: The issuance P/E ratio is 24.98, which is 73.60% of the industry average of 33.94 [4] - Actual Fundraising Ratio: The expected and actual fundraising amount is 531 million yuan [5] Short-Term Performance - Revenue Growth: In 2024, the company's revenue increased by 11.19% year-on-year [6] - Net Profit Growth: The net profit attributable to shareholders increased by 23.70% year-on-year [6] - Non-recurring Net Profit Growth: The non-recurring net profit attributable to shareholders increased by 14.95% year-on-year [6] - Subscription Rate: The abandonment rate is 0.44% [6] Overall Score - Total Score: The IPO project received a total score of 87, classified as B-level [6] - Negative Factors: The score was negatively impacted by the need for improved disclosure quality, a listing cycle exceeding two years, high issuance costs, and an abandonment rate of 0.44% [6]

Core Viewpoint - Shenzhen Qiangda Circuit Co., Ltd. announced the progress of cash management using idle raised funds, detailing the redemption of cash management products, account changes, and new investments [1] Group 1: Cash Management Progress - The company held its sixth meeting of the second board of directors and the sixth meeting of the second supervisory board on December 21, 2024, approving the use of no more than 325 million yuan of idle raised funds for cash management, with a validity period of 12 months and the option for rolling use [1] - One cash management product was redeemed, leading to the automatic cancellation of the related special settlement account. The product was a large-denomination certificate of deposit from China Merchants Bank, with a subscription amount of 100 million yuan, an annual yield of 1.10%, and a total redemption amount of 100 million yuan, yielding 91,700 yuan upon maturity [2] Group 2: New Cash Management Investments - The company used another 100 million yuan of idle raised funds for cash management, purchasing a structured deposit product from China Merchants Bank with an expected annual yield of 1.00%-1.75%, starting from August 27, 2025, and maturing on November 27, 2025. The investment does not constitute a related party transaction [3] Group 3: Historical Investment Situation - Since December 2024, the company has made multiple cash management investments involving various large-denomination certificates of deposit and structured deposits from China Merchants Bank and Bank of China. As of the announcement date, the unused balance of idle raised funds for cash management was 190 million yuan, remaining within the board's authorized limit [4] - The company stated that this cash management is conducted without affecting normal operations and project construction, aiming to enhance fund utilization efficiency and provide returns for the company and its shareholders [4]

证券代码：301628 证券简称：强达电路 公告编号：2025-044 深圳市强达电路股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 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。 深圳市强达电路股份有限公司（以下简称"公司"）于 2024 年 12 月 21 日 召开第二届董事会第六次会议、第二届监事会第六次会议，审议通过《关于使用 部分闲置募集资金进行现金管理的议案》，同意公司在确保不影响正常运营和募 集资金投资项目建设的情况下，拟使用不超过人民币 32,500.00 万元（含本数） 的闲置募集资金进行现金管理，用于购买安全性高、流动性好、风险性低的保本 型产品，同时满足单项产品投资期限最长不超过 12 个月及保本要求。上述额度 自董事会审议通过之日起 12 个月内有效，在前述额度和期限范围内可循环滚动 使用。闲置募集资金现金管理到期后将及时归还至募集资金专户。具体内容详见 公司 2024 年 12 月 23 日披露于巨潮资讯网（www.cninfo.com.cn）的《关于使用 部分闲置募集资金进行现金管理的公告》（公告编号：2024-012 ...

Core Viewpoint - The company emphasizes that stock price fluctuations are influenced by multiple factors and commits to enhancing internal value and achieving sustainable high-quality development to reward investors with strong operating performance [1] Group 1 - The company, Strongda Circuit (301628), responded to investor inquiries on August 27 regarding stock price changes [1] - The company aims to continuously improve management practices to drive internal value [1] - The company is focused on delivering high-quality and sustainable growth [1]

Company Overview - Shenzhen Qiangda Circuit Co., Ltd. was established in 2004, focusing on the R&D, production, and sales of PCBs, particularly in mid-to-high-end prototypes and small batch boards [1] - In the first half of 2025, the company reported a revenue of CNY 456 million, a year-on-year increase of 17.25%, and a net profit attributable to shareholders of CNY 58.75 million, up 4.87% [1] Product Structure and Application Areas - As of the first half of 2025, prototype and small batch board revenues accounted for 87.29% of total revenue, with prototypes making up 54.89%, an increase of 2.36 percentage points year-on-year [2] - The main application areas are industrial control and communication equipment, with revenue growth of 15.13% and 25.04% respectively in these sectors [2] Production Capacity and Factory Positioning - The Shenzhen factory focuses on high-end prototypes, handling demands for boards with 12 layers or more, while the Jiangxi factory is positioned for rapid delivery of small batch boards [3] - The company maintains a high capacity utilization rate and plans to upgrade and adjust production capacity based on market changes [3] Order Status and Market Outlook - The company currently has sufficient orders, with production and delivery operations running smoothly [4] - The global PCB market is expected to grow by 6.8% in 2025, indicating strong domestic and international order demand for the company [4] Gross Margin Trends - The increase in gross margin in Q2 is attributed to strategic changes in production, with a shift of some orders from Shenzhen to Jiangxi, allowing for greater capacity in the latter [6] - Future gross margin trends are expected to improve as the company optimizes its production strategies [6] Pricing Strategy - The rise in product prices in the first half of 2025 is due to an optimized order structure, with a higher proportion of prototypes and small batch boards, and an increase in special materials and processes [7] Competitive Advantages and Future Plans - With over 20 years in the PCB industry, the company has established a reputation for high-quality, small-batch production with rapid delivery capabilities [8] - Future plans include expanding production scale, enhancing technological innovation, and focusing on emerging industries such as 5G, new energy vehicles, and semiconductors [8]

Core Viewpoint - Strongda Circuit (301628.SZ) reported its semi-annual results for 2025, highlighting the current institutional investment landscape and changes in shareholding proportions among institutional investors [1] Group 1: Institutional Investors - As of August 26, 2025, a total of 7 institutional investors disclosed holdings in Strongda Circuit A-shares, with a combined holding of 12.1455 million shares, representing 16.11% of the total share capital [1] - The institutional investors include various partnerships and investment funds, indicating a diverse range of institutional interest in the company [1] - Compared to the previous quarter, the total institutional holding percentage decreased by 0.21 percentage points [1] Group 2: Public Funds - During this reporting period, only one public fund was disclosed, which is the E Fund Reform Dividend Mixed Fund, indicating limited public fund activity compared to the previous quarter [1]

Group 1 - The company did not distribute cash dividends, issue bonus shares, or increase capital from reserves during the reporting period [2] - There were no changes in the controlling shareholder or actual controller during the reporting period [3] - The company has no preferred shareholders or related information during the reporting period [3] Group 2 - The company has not made any retrospective adjustments or restatements of previous accounting data [2] - The number of shareholders holding more than 5% and the top 10 shareholders remained unchanged [2] - The company does not have any bond situations that are applicable as of the report approval date [3]