Core Viewpoint - Strongda Circuit experienced a stable trading day on September 22, with no change in stock price and a total transaction amount of 78.11 million yuan [1] Group 1: Financing and Trading Data - On September 22, Strongda Circuit had a financing buy-in amount of 6.9861 million yuan and a financing repayment of 12.5673 million yuan, resulting in a net financing buy of -5.5812 million yuan [1] - As of September 22, the total balance of margin trading for Strongda Circuit was 152 million yuan, which accounts for 9.04% of its circulating market value [1] - There were no shares sold or repaid in the securities lending market on September 22, with a total securities lending balance of 0 [1] Group 2: Company Overview and Financial Performance - Strongda Circuit, established on May 31, 2004, is located in Shenzhen, Guangdong Province, and specializes in the research, production, and sales of PCBs, with 95.76% of its revenue coming from printed circuit boards [1] - As of June 30, the number of shareholders for Strongda Circuit was 15,300, an increase of 1.90% from the previous period, while the average circulating shares per person decreased by 1.87% to 1,233 shares [2] - For the first half of 2025, Strongda Circuit achieved an operating income of 456 million yuan, representing a year-on-year growth of 17.25%, and a net profit attributable to shareholders of 58.7491 million yuan, up 4.87% year-on-year [2] - Since its A-share listing, Strongda Circuit has distributed a total of 30.1503 million yuan in dividends [2] - As of June 30, 2025, Hong Kong Central Clearing Limited and E Fund Reform Dividend Mixed Fund (001076) exited the list of the top ten circulating shareholders of Strongda Circuit [2]

证券代码：301628 证券简称：强达电路 公告编号：2025-046 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 - On September 12, Strongda Circuit experienced a decline of 1.83% with a trading volume of 152 million yuan, indicating a potential shift in investor sentiment towards the company [1]. Financing Summary - On the same day, Strongda Circuit had a financing buy-in amount of 18.40 million yuan, with a net financing purchase of 4.68 million yuan after 13.72 million yuan was repaid [1][2]. - The current financing balance stands at 155 million yuan, accounting for 9.01% of the circulating market value [2]. Company Overview - Strongda Circuit, established on May 31, 2004, is located in the Fuhai Street area of Bao'an District, Shenzhen, Guangdong Province. The company specializes in the research, production, and sales of PCBs (Printed Circuit Boards) [2]. - The main business revenue composition is 95.76% from printed circuit boards and 4.24% from other supplementary sources [2]. Financial Performance - For the period from January to June 2025, Strongda Circuit reported a revenue of 456 million yuan, reflecting a year-on-year growth of 17.25%. The net profit attributable to shareholders was 58.75 million yuan, showing a year-on-year increase of 4.87% [2]. Shareholder Information - As of June 30, 2025, the number of shareholders for Strongda Circuit was 15,300, which is an increase of 1.90% compared to the previous period. The average circulating shares per person decreased by 1.87% to 1,233 shares [2]. Dividend Information - Since its A-share listing, Strongda Circuit has distributed a total of 30.15 million yuan in dividends [3]. Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited and E Fund Reform Dividend Mixed Fund (001076) have exited the list of the top ten circulating shareholders [3].

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]