Core Viewpoint - Pomerantz LLP is investigating potential securities fraud and unlawful business practices involving SCHMID Group N.V. following a significant stock price drop after the company announced it may be delisted from Nasdaq due to failure to file its annual report for 2024 [1][2]. Group 1: Company Actions and Financial Impact - On November 17, 2025, SCHMID Group N.V. received a staff determination letter from Nasdaq indicating the potential delisting of its ordinary shares and warrants due to the failure to file its annual report for 2024 [2]. - Following the announcement, SCHMID's stock price decreased by $1.73 per share, representing a decline of 31.51%, closing at $3.76 per share on November 18, 2025 [2]. Group 2: Legal Investigation - Pomerantz LLP is conducting an investigation on behalf of investors of SCHMID Group N.V. to determine if the company and its officers or directors have engaged in securities fraud or other unlawful business practices [1].

Core Insights - SCHMID Group's InfinityLine L+ has won the Innovation Award at productronica 2025 for its advanced Chemical Mechanical Planarization (CMP) solution for large-format substrates, highlighting the company's leadership in next-generation manufacturing [1][3] - The InfinityLine L+ is designed for CMP processing of rectangular substrates and PCBs up to 24.5" × 24.5", enabling sub-5 µm structures in high-volume manufacturing, particularly for advanced packaging technologies [2][5] Technology and Features - The InfinityLine L+ features a novel design where slurry is applied centrally and evenly, supported by a dedicated clamping and backing system, ensuring maximum flatness and process stability [4] - It operates under SCHMID's "Oscar" principle, combining low slurry consumption, high removal rates, and excellent uniformity, with features like platen cooling and variable pressure control to enhance reliability [5] Applications and Market Impact - The InfinityLine L+ sets a new benchmark in advanced packaging by bridging semiconductor wafer processes with next-generation substrate demands, providing a scalable solution for various applications [6] - Target markets include manufacturers of substrates for AI, advanced packaging producers, and photonics companies, indicating a broad applicability of the technology [11]

Core Insights - The financial year 2024 was significantly impacted by weak demand in China due to trade conflicts, resulting in sales of approximately €61 million and an adjusted EBITDA of approximately €0 million [2] - The company anticipates a recovery in sales growth for 2026, projecting revenues over €100 million, driven by advanced technology products and a healthy order backlog of over €53 million as of mid-November 2025 [1][8] - The company is undergoing a restructuring process to reduce financial liabilities by over €30 million through various debt-to-equity swaps and waivers from majority shareholders [5][6] Financial Performance - Preliminary financial results for 2024 indicate an unadjusted EBITDA of approximately €-56 million, influenced by special accounting charges and costs related to the Nasdaq listing [2][3] - For 2025, the company expects sales between €72 million and €77 million, with an unadjusted EBITDA projected to be around 15% of sales [4] - The company is negotiating a financing package of at least a double-digit million amount to support R&D, cover IPO costs, and ensure sufficient working capital [6] Market Outlook - The market relevant to the company's products showed significant recovery in Q2 2025, with expectations of higher sales growth in 2026 compared to previous years [1][7] - The company is focusing on technological advancements in AI applications and high-tech sectors, which are expected to drive disproportionate growth [7] - The company aims to achieve an adjusted EBITDA margin of more than 12% on sales for 2026 [8] Strategic Initiatives - The company is actively pursuing cost reduction programs to ensure long-term success while expanding its product portfolio to meet technological challenges [7] - Discussions with investors regarding potential equity or debt investments were initiated, although a planned investment was halted due to regulatory intervention [5] - The company is set to finalize its 2024 financial statements and publish its annual report on Form 20-F following the completion of its financing package [6]

Core Viewpoint - SCHMID Group N.V. is facing potential delisting from Nasdaq due to non-compliance with filing requirements, but the company plans to appeal the determination and seeks to maintain its listing status [1][2][3] Group 1: Nasdaq Delisting and Appeal - On November 12, 2025, SCHMID received a Determination Letter from Nasdaq regarding its non-compliance with filing requirements, which could lead to delisting unless an appeal is made [1] - The company intends to appeal the determination and will request a hearing, which could temporarily stay the suspension of its ordinary shares and warrants for 15 days [2] - If the appeal is successful, the company may request an extended stay to keep its shares listed during the appeal process [2] Group 2: Compliance and Reporting - SCHMID is working to complete and file its Annual Report on Form 20-F for the year ended December 31, 2024, with the SEC as soon as possible [3] - There is no guarantee that the company will be able to comply with all listing requirements even if an extension is granted by the Nasdaq Hearings Panel [3] Group 3: Business Operations - The receipt of the Determination Letter does not impact the company's business operations or its reporting obligations with the SEC [4] Group 4: Company Overview - SCHMID is a global leader in high-tech solutions across various industries, including electronics, photovoltaics, and energy systems, with over 800 employees worldwide [6] - The company focuses on developing customized equipment and process solutions, ensuring high efficiency and sustainability in manufacturing [7]

Core Points - SCHMID Group N.V. received a determination letter from Nasdaq regarding non-compliance with filing requirements, which may lead to delisting unless an appeal is made [1][2] - The company plans to appeal the determination and request a stay of suspension for its ordinary shares and warrants, which would allow continued trading on Nasdaq during the appeal process [2][3] - The company is working to file its Annual Report on Form 20-F for the year ended December 31, 2024, but there is no guarantee that the appeal or stay will be granted [3][4] Company Overview - SCHMID is a global leader in providing solutions for the high-tech industry, focusing on electronics, photovoltaics, glass, and energy systems [6] - The company, founded in 1864, employs over 800 people worldwide and operates technology centers and production facilities in Germany and China [6] - SCHMID develops customized equipment and process solutions for various industries, ensuring high efficiency, quality, and sustainability through environmentally friendly manufacturing processes [6] Recent Developments - SCHMID has secured major orders for AI server PCB production equipment, indicating growth in its business operations [7][9] - The company will deliver a complete wet-process equipment setup featuring advanced V+ and H+ systems, marking a significant development in its product offerings [9]

Core Insights - SCHMID Group has successfully secured two significant orders in the rapidly growing field of Panel Level Packaging and mSAP production Equipment [1][4] Company Developments - The first project involves delivering a cluster configuration of InfinityLine C+ and InfinityLine H+ equipment to a leading global technology company in Southeast Asia, which specializes in semiconductors and infrastructure software [2][3] - The second project includes supplying horizontal InfinityLine H+ and vertical InfinityLine V+ machines to a customer in China, aimed at expanding mSAP capacities for AI Server PCB and similar products [3] Market Context - The orders highlight SCHMID Group's increasing role in advanced electronics manufacturing amid unprecedented AI-driven demand [4] - Global semiconductor revenues are projected to reach $785 billion in 2025 and accelerate toward $1.1 trillion by 2029, primarily driven by AI-centric architectures and data-intensive computing [5] - A 24% year-over-year increase in AI server shipments is forecasted for 2025, with North American hyperscalers leading the demand [5] Industry Trends - The surge in AI infrastructure investment is reshaping the IC-substrate and advanced PCB ecosystem, with a notable rise in demand for large-body substrates to meet next-generation performance requirements [6] - SCHMID's advanced process equipment portfolio is strategically relevant for enabling scalable, high-yield manufacturing for next-generation packaging technologies [6] Executive Insights - The projects reflect customer confidence in SCHMID's ability to deliver reliable and scalable production solutions for next-generation Advanced Packaging, as stated by the company's CSO [7]

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential investment opportunities before the market opens [1] Premarket Gainers - Ventyx Biosciences, Inc. (VTYX) increased by 108% to $8.05 - Brera Holdings PLC (SLMT) rose by 49% to $12.50 - Safe & Green Holdings Corp. (SGBX) gained 39% to $3.18 - American Rebel Holdings, Inc. (AREB) up by 26% to $2.71 - Tango Therapeutics, Inc. (TNGX) increased by 18% to $10.25 - Garrett Motion Inc. (GTX) rose by 14% to $14.30 - ETHZilla Corporation (ETHZ) gained 12% to $17.61 - D-Wave Quantum Inc. (QBTS) increased by 11% to $30.40 - IonQ, Inc. (IONQ) rose by 10% to $61.04 - Megan Holdings Limited (MGN) up by 7% to $2.31 [3] Premarket Losers - Splash Beverage Group, Inc. (SBEV) decreased by 21% to $2.06 - Molina Healthcare, Inc. (MOH) down by 18% to $158.44 - SCHMID Group N.V. (SHMD) fell by 18% to $3.18 - Beyond Meat, Inc. (BYND) decreased by 18% to $2.91 - Agencia Comercial Spirits Ltd (AGCC) down by 16% to $5.07 - Super League Enterprise, Inc. (SLE) fell by 13% to $2.25 - Armata Pharmaceuticals, Inc. (ARMP) decreased by 12% to $5.99 - Applied DNA Sciences, Inc. (BNBX) down by 12% to $4.19 - Ribbon Communications Inc. (RBBN) fell by 12% to $3.49 - Tamboran Resources Corporation (TBN) decreased by 11% to $21.81 [4]

Core Insights - SCHMID Group has successfully secured two significant orders in the rapidly growing field of Printed Circuit Boards (PCB) for artificial intelligence (AI) server applications, specifically AI-Server-Boards [1][4] Company Developments - The first project involves delivering a complete wet-process equipment setup featuring advanced V+ and H+ systems, while the second project includes supplying critical horizontal H+ machines, marking a breakthrough beyond traditional PCB and IC-substrate business [2][16] - One customer has entrusted SCHMID with full responsibility for an entire production line, indicating strong confidence in the company's technology and services, which may lead to future investment opportunities [3] Market Context - The semiconductor industry is projected to reach $785.5 billion in revenue by 2025, with expectations to accelerate to $1.1 trillion by 2029, driven by AI adoption [5] - Global AI server shipments are anticipated to grow by 24.3% year-over-year in 2025, with North American cloud service providers leading this growth, supported by sovereign cloud projects in Europe and the Middle East [5] - Demand for large-body substrates is increasing due to the rise in high-bandwidth memory (HBM) stacks and co-packaged optics (CPO) requirements for AI applications, highlighting the strategic importance of SCHMID's process equipment portfolio [6] Executive Insights - The orders represent a pivotal milestone for SCHMID Group, showcasing the necessity and trust in its technology not only in IC-substrates but also in full PCB production lines for AI-Server-Board, a rapidly growing market [7][10] - The AI server segment is characterized by rapid innovation cycles, with typical server boards having a lifecycle of only 18 to 24 months, creating a recurring need for advanced PCB manufacturing solutions [8] - Winning these projects positions SCHMID at the center of the AI server board cycle, where each generation requires more layers, smaller features, tighter process windows, and new materials, areas where SCHMID's systems provide a unique advantage [9]

Core Insights - SCHMID Group has announced the shipment of its first InfinityLine P+ system, a new panel-level plating equipment that integrates photoresist stripping, providing a modern and efficient alternative for manufacturers in the electronics industry [1][10]. Product Features - The InfinityLine P+ is a touch-free, double-sided vertical cluster plating system that can be configured with various plating, pre-treatment, cleaning, and rinsing modules, ensuring uniform copper distribution across the panel through segmented and moveable anodes [3][9]. - The system integrates photoresist stripping directly into the plating workflow, which minimizes handling and transfer steps, resulting in a compact and low-maintenance architecture that reduces both operating and capital costs [4][11]. Competitive Advantage - The InfinityLine P+ is designed to compete effectively against existing plating equipment in dynamic manufacturing environments characterized by frequent design changes, thin seed layers, and stringent process integration requirements [5][11]. - Unique differentiators of the InfinityLine P+ include integrated stripping, segmented current distribution, and reliability on thin seed layers, making it suitable for environments where flexibility and yield are critical [11]. Customer Benefits - The features of the InfinityLine P+ lead to higher equipment uptime, reduced footprint, shorter process chains, and lower total cost of ownership, enhancing overall operational efficiency for customers [7][9]. Market Positioning - The shipment of the first unit marks the beginning of commercialization, with initial customer installations and pilot runs planned for the upcoming quarter, indicating a proactive approach to market entry [12]. - The InfinityLine P+ expands the InfinityLine family, positioning SCHMID Group as a key player in next-generation advanced packaging and high-density PCB applications, offering a competitive alternative to existing plating platforms [13].

Core Insights - SCHMID Group has expanded its product portfolio to address the increasing demand for advanced packaging substrates and high-performance server boards driven by the AI era [1][14][15] - The semiconductor and advanced packaging sector is projected to grow at a CAGR of around 10% over the next five years, with significant contributions from market leaders like TSMC and NVIDIA [2][15] - The traditional PCB industry is expected to grow at an 8% CAGR, while AI server boards are anticipated to experience a robust growth rate of about 20% [3][15] Company Developments - SCHMID has broadened its InfinityLine product family to enhance its position in next-generation package substrates and AI-server PCBs [4][12] - The company is uniquely positioned to deliver Chip-on-Wafer-on-PCB (CoWoP) solutions, focusing on best-in-class yield and low cost of ownership [5] - SCHMID anticipates that 2025 will be a transition year, with above-market growth expected from 2026 onwards, particularly in AI-driven product lines [6] Product Innovations - The existing InfinityLine H+ remains the top-selling equipment, while the new InfinityLine C+ is on track to become a significant revenue contributor [12] - Upcoming products include InfinityLine L+ for panel-level substrates and InfinityLine P+ for next-generation single panel plating, both set to launch in late 2025 [12] - SCHMID's QuantumLine and SCHMID-AVACO Plasma Equipment are designed to enable high-yield glass core substrate production [12]