SHENGYI ELECTRONICS CO.(SH:688183) 中国基金报·2025-11-17 12:27Core Viewpoint - Shengyi Electronics plans to raise no more than 2.6 billion yuan through a private placement of shares, with the net proceeds intended for investment in AI computing HDI production base, smart manufacturing high-layer circuit board projects, and to supplement working capital and repay bank loans [2][5]. Group 1: Fundraising and Projects - This is the first equity refinancing since Shengyi Electronics went public in 2021 [5]. - The AI computing HDI production base project has a total investment of 2.032 billion yuan, with 1 billion yuan to be raised from this offering, a construction period of 36 months, and expected to start trial production in the third year, reaching full production by the fifth year [5]. - The smart manufacturing high-layer circuit board project has a total investment of 1.937 billion yuan, with 1.1 billion yuan to be raised from this offering, divided into two phases with a total construction period of 30 months [5]. Group 2: Market Demand and Trends - The exponential growth in AI computing demand is significantly driving the rapid expansion of the AI server and data center market, with a particularly strong demand for HDI boards [5][6]. - It is expected that AI HDI boards will become one of the fastest-growing segments in the PCB market over the next five years, especially for high-tier HDI boards [5]. - The demand for high-layer and high-speed PCBs is expected to maintain rapid growth in AI data center servers and high-end network equipment [6].