VGT(SZ:300476) 2 1 Shi Ji Jing Ji Bao Dao·2025-12-01 11:02Core Viewpoint - There are rumors regarding the fourth-quarter performance of Shenghong Technology (300476.SZ), a leading printed circuit board company, which have raised investor concerns. However, the company has stated that these rumors are not based on any official announcements and that their order situation remains normal [1][2]. Group 1: Financial Performance - In the third quarter, Shenghong Technology reported a revenue of 5.086 billion yuan, representing a year-on-year increase of 78.95% [1]. - The net profit attributable to shareholders for the third quarter was 1.102 billion yuan, a significant year-on-year increase of 260.52% [1]. - Despite the impressive year-on-year figures, the net profit for the third quarter decreased by 9.88% compared to the second quarter's 1.223 billion yuan [2]. Group 2: Market Reactions - Following the release of the third-quarter report, Shenghong Technology's stock price fell over 7% on October 28, and has since experienced a cumulative decline of 21% [1]. - As of December 1, the stock price closed at 268.82 yuan per share, with a slight decrease of 0.69%, but still reflecting a year-to-date increase of 541.27% [2]. Group 3: Operational Factors - The decline in net profit was attributed to three main factors: adjustments in HDI production lines to meet customer demands, an increase in workforce by approximately 2,000 to 3,000 employees leading to higher labor costs, and increased R&D investment for new product introductions [2]. - The company has addressed rumors regarding a loss of orders from Nvidia, clarifying that they have confirmed with Bloomberg that no such news was published, and emphasized that their overall business situation remains positive with no significant changes in core customer orders [2].