Zheng Quan Shi Bao·2025-11-13 00:03Group 1: Company Developments - Shengtun Mining announced a capital increase of approximately 1.424 billion RMB (199.95 million USD) for its wholly-owned subsidiary, Shengtun Gold Holdings, to optimize its overseas subsidiary's equity structure and promote international development [2] - The company has been actively acquiring gold assets, including the recent cash acquisition of all issued and outstanding shares of Canadian company Loncor to obtain its gold mining assets in the Democratic Republic of Congo [2][3] - Shengtun Mining reported a significant increase in revenue, achieving 21.717 billion RMB in the first three quarters, a year-on-year growth of 22.99%, and a net profit of 1.702 billion RMB, a slight increase of 0.06% [3] Group 2: Industry Trends - The PCB market is experiencing significant expansion driven by AI demand, with high-end product categories seeing substantial growth in value [4] - According to Prismark data, the value of 18-layer and above high multilayer boards and HDI boards is expected to grow by 40.3% and 18.8% year-on-year, respectively, in 2024 [4] - The PCB industry has shown strong performance in 2023, with listed companies in the sector achieving a total revenue of 216.191 billion RMB, a year-on-year increase of 25.36%, and a net profit of 20.859 billion RMB, up 62.15% [5] Group 3: Market Performance - In the first three quarters, 75% of PCB listed companies reported a year-on-year increase in net profit, with notable performers including Shengyi Technology and Victory Technology, both exceeding 100% growth [6] - Shengyi Technology reported a revenue of 6.829 billion RMB, a year-on-year increase of 114.79%, and a net profit of 1.115 billion RMB, up 497.61% [6] - QFII investments in PCB stocks have increased, with a total holding value of 16.635 billion RMB across 13 stocks, led by Shengyi Technology with a holding value of 15.936 billion RMB [7]