重要内容提示： 生益电子股份有限公司（以下简称"公司"）董事会近日收到公司董事陈正 清先生的书面辞职报告，因工作原因，陈正清先生申请辞去公司第三届董事会董 事职务，根据《公司法》《公司章程》等有关规定，陈正清先生的辞任自公司收 到辞职报告之日生效。辞任后，陈正清先生将继续担任公司副总经理、吉安生益 电子有限公司董事、生益电子（香港）有限公司董事、生益电子（国际）有限公 司董事、生益电子（海外）有限公司董事、生益电子（泰国）有限公司签字董事。 2025 年 11 月 13 日公司召开职工代表大会选举陈笑林先生为第三届董事会 职工代表董事，任期自公司 2025 年第二次临时股东大会审议通过《关于取消监 事会并修订<公司章程>的议案》之日起至公司第三届董事会任期届满。 证券代码：688183 证券简称：生益电子 公告编号：2025-071 生益电子股份有限公司 关于公司非独立董事离任暨选举职工董事的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 | （国际）有限公司董事、生 | | --- | | 益电子（海外）有限公司董 | ...

法律意见书 广州市天河区珠江东路 32 号利通广场 29 层 邮编：510623 29/F, Lea Top Plaza, 32#Zhujiang East Road, Tianhe District, Guangzhou, 510623 电话/TEL：（8620) 37392666 传真/FAX：（8620) 37392826 网址/WEB：www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 济南 昆明 南昌 北京市康达（广州）律师事务所 关于生益电子股份有限公司 2025 年第二次临时股东大会的法律意见书 康达(广州)股会字【2025】第 0057 号 致：生益电子股份有限公司 北京市康达（广州）律师事务所（下称"本所"）接受生益电子股份有限公 司（下称"生益电子"或"公司"）委托，指派律师出席公司 2025 年第二次临 时股东大会。根据《中华人民共和国公司法》（下称"《公司法》"）、《中华 人民共和国证券法》（下称"《证券法》"）、《上市公司股东会规则》（下称 "《股东会规则》 ...

本次会议是否有被否决议案：无 证券代码：688183 证券简称：生益电子 公告编号：2025-070 生益电子股份有限公司 2025年第二次临时股东大会决议公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 11 月 14 日 （二） 股东大会召开的地点：广东省东莞市东城区同沙科技工业园同振路 33 号生益电子股份有限公司研发中心会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 145 | | --- | --- | | 普通股股东人数 | 145 | | 2、出席会议的股东所持有的表决权数量 | 635,625,237 | | 普通股股东所持有表决权数量 | 635,625,237 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比例 | 77.1777 | | （%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（ ...

Group 1: Industry Overview - The PCB industry is entering a new prosperity cycle driven by strong demand for AI computing power, with global PCB market value projected at $73.565 billion in 2024, a year-on-year increase of 5.8%, and China's market leading at $41.213 billion, growing at 9.0% [1][12] - Guangdong's PCB industry cluster, accounting for 60% of national capacity, is playing an increasingly critical role in the global AI supply chain due to its complete ecological advantages [1] Group 2: Company Performance - Shenghong Technology's stock price surged over 590% year-to-date, attributed to its deep partnerships with giants like NVIDIA, with the company's net profit for the first three quarters reaching 3.245 billion yuan, a staggering increase of 324.38% year-on-year [2][3][4] - The company reported a revenue of 14.117 billion yuan for the year-to-date, reflecting an 83.40% increase compared to the previous year, with a third-quarter net profit growth of 260.52% [3][4] Group 3: Competitive Landscape - Shenghong Technology has established a strong technical barrier in the high-end PCB sector, being one of the first to achieve mass production of advanced AI computing center products, thus meeting the urgent demand for high-layer, high-density PCBs [4] - The Guangdong PCB industry is characterized by a significant concentration of companies, with 30 out of 44 component stocks based in the province, highlighting its dominant position in the market [7][9] Group 4: Regulatory Environment - The Ministry of Industry and Information Technology has released a draft for public consultation aimed at guiding the PCB industry towards high-end, green, and intelligent development, emphasizing the need to eliminate low-end expansion and promote high-quality innovation [5][6] Group 5: Future Outlook - Analysts predict that Shenghong Technology will experience rapid growth, with expected net profits of 5.351 billion yuan, 8.628 billion yuan, and 11.284 billion yuan from 2025 to 2027, driven by the ongoing AI wave [4] - The PCB market in China is projected to reach 415.6 billion yuan in 2024, with an annual growth rate of 8.3%, fueled by demands from emerging sectors such as industrial automation, 5G, and AI [12]

Core Viewpoint - The PCB industry is experiencing a new boom driven by strong demand for AI computing power, with leading companies like Shenghong Technology seeing significant stock price increases and revenue growth [1][3]. Market Overview - The global PCB market is projected to reach $73.565 billion in 2024, with a year-on-year growth of 5.8%, while China's market leads at $41.213 billion, growing at 9.0% [1]. - Guangdong province accounts for 60% of China's PCB production capacity, playing a crucial role in the global AI supply chain [1]. Company Performance - Shenghong Technology reported a revenue of 14.117 billion yuan for the year-to-date, an increase of 83.40% year-on-year, and a net profit of 3.245 billion yuan, up 324.38% [4]. - The company achieved a quarterly net profit growth of 260.52% in the third quarter, with gross and net profit margins of 35.19% and 21.66%, respectively [4]. Technological Advancements - Shenghong Technology has established a strong technical barrier in the high-end PCB sector, being one of the first to mass-produce advanced AI computing center products and possessing capabilities for high-layer precision PCBs [5][6]. - The demand for high-layer and high-density PCBs is expected to remain strong, with increasing technical challenges and value [6]. Industry Trends - The Chinese government is promoting the PCB industry's high-end, green, and intelligent development through new regulations aimed at eliminating outdated capacity and encouraging technological innovation [6][7]. - The PCB industry is shifting from low-end expansion to high-quality innovation, with a focus on enhancing competitiveness in the global market [7]. Regional Dynamics - Guangdong's PCB industry benefits from a robust industrial ecosystem, with a significant concentration of companies and resources in the Pearl River Delta region [9][11]. - The region's logistics advantages support the efficient operation of the PCB industry, which relies heavily on imported raw materials and exports finished products [13]. Future Projections - The PCB market in China is expected to grow to 415.6 billion yuan in 2024, driven by demand from emerging sectors such as AI, 5G, and new energy vehicles, with projections reaching 554.51 billion yuan by 2029 [14].

Core Insights - The PCB industry is experiencing a new boom driven by strong demand for AI computing power, with leading company Shenghong Technology's stock price soaring over 590% year-to-date as of November 13 [2][3] - The global PCB market is projected to reach $73.565 billion in 2024, reflecting a year-on-year growth of 5.8%, while China's PCB market is expected to lead with a value of $41.213 billion and a growth rate of 9.0% [2] - Guangdong province, which accounts for 60% of China's PCB production capacity, is playing an increasingly critical role in the global AI supply chain due to its comprehensive ecosystem advantages [2] Company Performance - Shenghong Technology reported a revenue of 14.117 billion yuan for the year-to-date, marking an 83.40% increase compared to the same period last year, with net profit attributable to shareholders soaring to 3.245 billion yuan, a 324.38% increase [4][6] - The company's third-quarter net profit grew by 260.52%, with gross and net profit margins reaching 35.19% and 21.66%, respectively, showcasing strong profitability [6] - Shenghong Technology has established itself as a leader in high-end PCB production, being one of the first to achieve large-scale production of advanced AI computing products [7] Industry Trends - The PCB industry is shifting towards high-end, high-quality production, as indicated by recent regulatory guidance from the Ministry of Industry and Information Technology aimed at phasing out low-end production and promoting technological innovation [8] - The market is expected to see significant growth driven by emerging fields such as industrial automation, 5G, new energy vehicles, and AI, with the PCB market projected to reach 554.51 billion yuan by 2029 [14] - The Guangdong PCB industry benefits from a robust cluster effect, with 30 out of 44 major PCB companies located in the province, highlighting its dominance in the sector [9][10] Competitive Landscape - Shenghong Technology's remarkable performance is part of a broader trend in Guangdong, where companies like Shenyang Electronics and Pengding Holdings are also experiencing substantial growth [10] - The industry is witnessing a significant increase in net profit margins, with companies like Shenghong Technology and Shenyang Electronics reporting profit growth rates in the hundreds of percent [10] - The complete ecosystem in the Pearl River Delta region, which includes a wide range of suppliers and manufacturers, is crucial for the PCB industry's efficiency and responsiveness to market demands [13][14]

Core Insights - The PCB industry is entering a new growth cycle driven by strong demand for AI computing power, with leading company Shenghong Technology's stock price soaring over 590% year-to-date as of November 13 [1][2] - The global PCB market is projected to reach $73.565 billion in 2024, reflecting a year-on-year growth of 5.8%, while China's market leads with a value of $41.213 billion and a growth rate of 9.0% [1] - Guangdong's PCB industry cluster, which accounts for 60% of the national capacity, is playing an increasingly critical role in the global AI supply chain [1] Company Performance - Shenghong Technology reported a revenue of 14.117 billion yuan for the year-to-date, a year-on-year increase of 83.40%, with net profit attributable to shareholders reaching 3.245 billion yuan, up 324.38% [3] - The company achieved a net profit of 324.5 million yuan in the third quarter, marking a 260.52% increase year-on-year, showcasing strong profitability with gross and net profit margins of 35.19% and 21.66%, respectively [3][4] - Shenghong Technology's chairman, Chen Tao, has been recognized as a key partner by Nvidia's CEO, highlighting the company's strategic importance in the high-end PCB sector [2][4] Industry Trends - The PCB industry is experiencing a shift towards high-end, high-value products, with a focus on advanced technologies such as HDI and multi-layer PCBs, driven by the increasing demand from AI servers [4] - The Chinese government is promoting the PCB industry's transformation towards high-end, green, and intelligent development through new regulations aimed at eliminating outdated capacity and encouraging technological innovation [5][6] - The Guangdong PCB industry is characterized by a strong cluster effect, with 30 out of 44 companies in the PCB index based in the province, reflecting its dominant position in the market [7][9] Market Dynamics - The market is witnessing significant growth in high-end PCB products, with companies like Shenghong Technology and Shengyi Technology reporting substantial profit increases, indicating a shift towards higher quality and innovation [6][9] - The logistics advantages of the Guangdong-Hong Kong-Macao Greater Bay Area are facilitating the efficient operation of the PCB industry, which relies heavily on imported raw materials and exports finished products [12] - The PCB market in China is expected to grow to 415.6 billion yuan in 2024, driven by demand from emerging sectors such as industrial automation, 5G, new energy vehicles, and AI [12]

Core Insights - The overall performance of companies listed on the Sci-Tech Innovation Board (STAR Market) has shown a strong rebound in the first three quarters, with a significant year-on-year net profit growth of 75% in Q3 [2] - The focus on "hard technology" has led to increased R&D investments, particularly in key industries such as integrated circuits, artificial intelligence, and biomedicine, contributing to the foundation for high-level technological self-reliance [2] Performance Overview - In the first three quarters, STAR Market companies achieved a total revenue of 1.11 trillion yuan, a year-on-year increase of 7.9%, and a net profit of 49.268 billion yuan, up 8.9% [2] - Excluding four leading photovoltaic companies, overall revenue and net profit growth rates were 14.6% and 30.6%, respectively, indicating an amplified growth momentum [2] - Over 70% of companies reported revenue growth, and nearly 60% saw net profit increases, with 158 companies experiencing net profit growth exceeding 50% [2] Industry Highlights - The STAR Market's top enterprises and growth-oriented companies complement each other well, with the Sci-Tech 50 Index companies accounting for 46% of revenue and 50% of net profit [3] - The Sci-Tech 100 Index companies demonstrated high growth elasticity, with revenue and net profit increasing by 12% and 134%, respectively, becoming the "vanguard" of performance growth [3] R&D Investment - Total R&D investment by STAR Market companies reached 119.745 billion yuan, 2.4 times the net profit, with a median R&D intensity of 12.4%, leading A-share sectors [4] - The biomedicine sector saw revenue growth of 11% and net profit growth of 48%, driven by the rapid commercialization of innovative drugs [4] - Nine first-class new drugs were approved for market entry during the reporting period, with significant international business development transactions totaling over 13 billion USD [4] Growth of Emerging Companies - 35 unprofitable companies in the Sci-Tech Growth Layer reported a revenue increase of 39% and a significant reduction in net losses by 65% [5] - These companies are focusing on R&D with a median R&D intensity of 44.3%, indicating a promising development trend [5] Competitive Advantages in Key Industries - The integrated circuit industry, crucial for technological self-reliance, saw 121 related companies achieve a revenue growth of 25% and a net profit growth of 67% [6] - Major players like SMIC and Huahong Semiconductor maintained high capacity utilization rates, with record sales revenue [6] - The AI industry has emerged as a new growth pillar, with significant revenue increases across the supply chain, particularly in computing and data transmission sectors [7] Renewable Energy Sector - In the photovoltaic sector, 17 related companies significantly reduced their net losses by 28% [7] - The lithium battery industry experienced a revenue growth of 7% and a net profit of 1.02 billion yuan, marking a return to profitability [7]

Core Insights - The overall performance of companies on the Sci-Tech Innovation Board (STAR Market) has shown a significant recovery, with a 75% year-on-year increase in net profit for the third quarter [2][4] - The board's companies achieved approximately 1.1 trillion yuan in revenue for the first three quarters of 2025, marking a 7.9% year-on-year growth, and a net profit of 492.68 billion yuan, up 8.9% [2][4] - The focus on "hard technology" sectors such as integrated circuits, artificial intelligence, and biomedicine is fostering new productive forces and supporting high-level technological self-reliance [1][4] Financial Performance - In the first three quarters, over 70% of companies reported revenue growth, and nearly 60% saw an increase in net profit, with 158 companies experiencing net profit growth exceeding 50% [2][4] - The STAR Market's R&D investment totaled 1,197.45 billion yuan, which is 2.4 times the net profit, with a median R&D intensity of 12.4%, leading the A-share market [2][4] Sector Highlights - The integrated circuit industry reported a 25% year-on-year revenue growth and a 67% increase in net profit, with major players like SMIC and Hua Hong Semiconductor achieving record sales [4][5] - The artificial intelligence sector has emerged as a new growth pillar, with companies like Cambricon and Haiguang Information seeing revenue increases of nearly 24 times and 55%, respectively [5][6] - The biopharmaceutical industry experienced an 11% revenue growth and a 48% increase in net profit, with significant advancements in new drug approvals and international transactions [6][7] Growth Potential - The STAR Market's "1+6" reform has effectively supported unprofitable tech companies, with 35 companies in the growth tier showing a 39% revenue increase and a 65% reduction in net profit losses [3][4] - The renewable energy sector is stabilizing, with solar companies reducing losses significantly and lithium battery companies reporting a 7% revenue growth in the third quarter [6][7]

Group 1: Overall Performance of Sci-Tech Innovation Board Companies - In the first three quarters, Sci-Tech Innovation Board companies achieved operating revenue of 1.105 trillion yuan, a year-on-year increase of 7.9% [1] - Net profit reached 49.268 billion yuan, growing by 8.9% year-on-year, with a significant 75% increase in net profit for the third quarter alone [1] - Over 70% of companies reported revenue growth, and nearly 60% saw net profit growth, with 158 companies experiencing net profit increases exceeding 50% [1] Group 2: R&D Investment and Industry Performance - The total R&D investment for the Sci-Tech Innovation Board in the first three quarters was 119.745 billion yuan, 2.4 times the net profit, with a median R&D intensity of 12.4% [2] - The integrated circuit industry showed strong performance, with 121 related companies achieving a 25% year-on-year revenue increase and a 67% rise in net profit [2] - The artificial intelligence industry emerged as a new growth driver, with significant revenue increases in computing power and related sectors [2] Group 3: Sector-Specific Insights - The biopharmaceutical industry saw an 11% increase in revenue and a 48% rise in net profit, driven by the approval of new drugs and international business development [3] - The renewable energy sector is experiencing a reduction in losses, particularly in the photovoltaic field, with some companies turning profitable [3] - The lithium battery industry is witnessing a recovery in demand and prices, with 19 related companies reporting a 7% increase in revenue and a return to profitability [3]