21世纪经济报道·2025-11-18 11:37Core Viewpoint - Recent rumors suggested that Nvidia (NVDA.US) has partnered with Xingsen Technology (002436.SZ) to take over 20% of high-end HDI board orders previously supplied exclusively by Shenghong Technology (300476.SZ). However, both Shenghong and Xingsen have denied these claims, stating that no such announcements have been made [1][2]. Group 1: Company Responses - Shenghong Technology confirmed that they have not received any official communication regarding the rumored partnership and stated that their overall business situation remains positive with no significant changes in core customer orders [1]. - Xingsen Technology emphasized that all information should be based on official announcements and has not disclosed any specific details about customer collaborations [2]. Group 2: Industry Context - HDI (High-Density Interconnect) boards are advanced PCB technologies developed to meet the demands for miniaturization, high integration, and high performance in electronic devices, representing a high-value segment within the industry [2]. - Shenghong Technology is one of the first companies globally to achieve large-scale production of 6-layer 24-layer HDI boards and possesses advanced capabilities in 8-layer 28-layer HDI and 16-layer arbitrary interconnect HDI technologies, which are essential for high-density wiring and high-speed signal transmission in AI servers and other high-performance devices [2][3]. - Xingsen Technology's main business includes the R&D, production, and sales of circuit boards, with applications in consumer electronics, communication devices, and automotive electronics. They have disclosed capabilities for multilayer boards with over 18 layers in AI servers and optical modules [3].