深圳市大族数控科技股份有限公司 第二届董事会第十九次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或者重大遗漏。 深圳市大族数控科技股份有限公司（以下简称"公司"）第二届董事会第十 九次会议于 2025 年 11 月 28 日以通讯表决方式举行，本次会议通知已于 2025 年 11 月 21 日向全体董事发出。本次会议应出席董事 8 人，实际出席董事 8 人，公 司高级管理人员列席了会议。本次会议的召开符合《公司法》及公司章程的规定。 本次会议由董事长杨朝辉先生主持，全体董事审议并表决通过了如下决议： 一、审议通过《关于会计估计变更的议案》。 经审议，公司董事会认为公司本次会计估计变更是根据《企业会计准则第 28 号-会计政策、会计估计变更和差错更正》《企业会计准则第 22 号一金融工具确 认和计量》相关规定，以谨慎性原则为前提，参考其他上市公司预期信用损失率， 结合公司实际经营情况对相关会计估计进行变更。执行变更后的会计估计能更加 客观、公允地反映公司的财务状况和经营成果，为投资者提供更可靠、更准确的 会计信息。公司本次会计估计变更无需对已披露的财务报表进 ...

证券代码：301200 证券简称：大族数控 公告编号：2025-076 深圳市大族数控科技股份有限公司 关于会计估计变更的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 深圳市大族数控科技股份有限公司（以下简称"公司"）于 2025 年 11 月 28 日召开了第二届董事会第十九次会议，审议通过了《关于会计估计变更的议 案》，同意根据《企业会计准则第 28 号——会计政策、会计估计变更和差错更 正》《企业会计准则第 22 号——金融工具确认和计量》的有关规定，以谨慎性原 则为前提，参考其他上市公司预期信用损失率，结合公司实际经营情况对会计估 计进行变更。公司本次会计估计变更采用未来适用法，对公司 2025 年前三季度及 以往各年度财务状况和经营成果不会产生影响，无需追溯调整，本次会计估计变 更自 2025年 10月 1日起执行。 根据《深圳证券交易所创业板股票上市规则》及《公司章程》等有关规定，本 次会计估计变更无需提交公司股东会审议，现将具体情况公告如下： 一、本次会计估计变更概述 因原有应收款项（含应收票据、应收账款、应收款项融资、合同资产、长期应 ...

关于会计估计变更专项说明的 专项审核报告 深圳市大族数控科技股份有限公司 容诚专字[2025]518Z1035 号 容诚会计师事务所(特殊普通合伙) 中国·北京 我们接受委托，对深圳市大族数控科技股份有限公司（以下简称"大族数控" 或"公司"）编制的《深圳市大族数控科技股份有限公司会计估计变更的专项说 明》进行了审核。 按照《企业会计准则》、 中国证券监督管理委员会和深圳证券交易所的相关 规定对会计估计变更进行确认、计量和相关信息的披露是大族数控管理层的责任。 我们的责任是按照《中国注册会计师其他鉴证业务准则第 3101 号一历史财 务信息审计或审阅以外的鉴证业务》的规定执行审核工作，并在此基础上对专项 说明发表审核意见。在审核过程中，我们实施了包括询问、检查记录和文件等我 们认为必要的审核程序。我们相信，我们的审核工作为发表审核意见提供了合理 的基础。 我们认为，大族数控管理层编制的专项说明已按照《企业会计准则第 28 号一 会计政策、会计估计变更和差错更正》及深圳证券交易所《深圳证券交易所创业 板上市公司自律监管指南第 2 号——公告格式》等相关规定编制，在所有重大方 面如实反映了大族数控的会计估计变更情 ...

董事会关于会计估计变更合理性的说明 深圳市大族数控科技股份有限公司 特此说明。 深圳市大族数控科技股份有限公司董事会 2025 年 12 月 1 日 深圳市大族数控科技股份有限公司（以下简称"公司"）于 2025 年 11 月 28 日召开第二届董事会第十九次会议，审议通过了《关于会计估计变更的议案》， 全体董事一致同意该事项，并就本次会计估计变更的合理性说明如下： 董事会认为：公司本次会计估计变更是根据《企业会计准则第 28 号-会计政 策、会计估计变更和差错更正》《企业会计准则第 22 号一金融工具确认和计量》 相关规定，以谨慎性原则为前提，参考其他上市公司预期信用损失率，结合公司 实际经营情况对相关会计估计进行变更。执行变更后的会计估计能更加客观、公 允地反映公司的财务状况和经营成果，为投资者提供更可靠、更准确的会计信息。 公司本次会计估计变更无需对已披露的财务报表进行追溯调整，也不会对公司以 往各年度财务状况和经营成果产生影响，不存在损害公司及全体股东特别是中小 股东利益的情形。 ...

Group 1 - The core point of the article is that Dazhu CNC Technology Co., Ltd. (Dazhu CNC) has seen its Hong Kong IPO application expire after six months, with CICC serving as the sole sponsor during the application process [1] - Dazhu CNC is recognized as a global leader in providing specialized production equipment solutions for the PCB industry, focusing on the research, production, and sales of PCB-specific production equipment [1] - The company has over 20 years of experience in the PCB equipment sector and continues to expand into technically challenging processes within PCB production [1] Group 2 - According to Zhi Shi Consulting, Dazhu CNC boasts the most extensive product portfolio in the global PCB specialized equipment industry, covering nearly all major processes in PCB production, including drilling, exposure, lamination, molding, and inspection [1]

Core Viewpoint - Dazhu CNC Technology Co., Ltd. (Dazhu CNC) is a leading global provider of PCB specialized production equipment solutions, with a focus on R&D, production, and sales of PCB specialized production equipment [1] Company Overview - Dazhu CNC has been operating in the PCB specialized equipment industry for over 20 years, continuously expanding into technically challenging processes within PCB production [1] - The company offers a comprehensive end-to-end process solution for PCB manufacturers, covering various stages of PCB production [1] Industry Position - According to Zhi Shi Consulting, Dazhu CNC possesses the most extensive product portfolio in the global PCB specialized equipment industry, encompassing nearly all major processes in PCB production, including drilling, exposure, lamination, molding, and testing [1]

宏观 要闻 重要经济指标发布 11月30日，国家统计局服务业调查中心和中国物流与采购联合会发布了中国采购经理指数。数据显示， 11月份制造业采购经理指数为49.2%，比上月上升0.2个百分点，景气水平有所改善；非制造业商务活动 指数为49.5%，比上月下降0.6个百分点，显示非制造业经营活动有所放缓；综合PMI产出指数为 49.7%，比上月下降0.3个百分点，我国经济景气水平总体平稳。 分析认为，12月制造业市场需求仍有趋稳回升空间，并带动企业生产活动稳中有增，年末节庆和冬季消 费相关需求集中释放会带动消费相关服务业有所回升，投资有望继续发挥托底经济的作用。不过，专家 也提出，要围绕"十五五"良好开局进一步加强宏观经济政策逆周期调节力度，显著加大政府公共产品、 公共服务投资规模，进一步有效有力带动企业订单增加。 多部门联合召开科技金融统筹推进机制第一次会议 11月27日，中国人民银行、科技部等部门联合召开科技金融统筹推进机制第一次会议。中国人民银行行 长潘功胜、科技部部长阴和俊出席会议并讲话。 会议强调，明年是"十五五"开局之年，各有关部门要扎实推进各项工作任务落实，常态化运行科技金融 统筹推进机制，强化科金 ...

Investment Rating - The report maintains an "Overweight" rating for the mechanical equipment industry, specifically recommending AI equipment, humanoid robots, and related sectors [1]. Core Insights - The expansion of AI data centers in the U.S. is driving increased demand for power generation, particularly benefiting domestic equipment manufacturers [2]. - The introduction of Google's Gemini 3 model indicates a sustained growth in AI computing infrastructure, leading to increased demand for PCB and liquid cooling equipment [3]. - The humanoid robot sector is expected to experience a significant upward trend, particularly with upcoming catalysts in December and early 2026 [4]. Summary by Sections Recommended Companies - The report suggests a focus on companies such as North China Huachuang, SANY Heavy Industry, Zhongwei Company, and others across various segments including semiconductor equipment, engineering machinery, and automation [1][13]. Investment Highlights - **Gas Turbines**: The U.S. AI data center expansion is expected to boost demand for gas turbine power generation, with significant opportunities for domestic brands like Jereh and Haomai Technology [2]. - **AI Equipment**: The performance of Google's Gemini 3 has exceeded expectations, indicating a robust demand for AI computing infrastructure, particularly in PCB and liquid cooling solutions [3]. - **Humanoid Robots**: The humanoid robot sector is poised for a major rally, driven by key developments from Tesla and other domestic players [4]. Industry Trends - The mechanical equipment sector is projected to recover, with a focus on electric forklifts and automation solutions driven by labor shortages and technological advancements [17][49]. - The global market for warehouse automation solutions is expected to grow significantly, with AMR solutions leading the way due to their efficiency and flexibility [49]. Financial Projections - The report forecasts substantial growth in net profits for various companies within the sector, with specific projections for 2025-2027 indicating a positive outlook for companies like Zhongli and Jereh [19][25][32].

中证500指数更换50只样本，东方雨虹、和而泰、华虹公司、盐田港、大族数控、欧派家居、中策橡胶、苏泊尔等调入指数，调出名单包括中国长城、森 马服饰、中文传媒、王府井等。 中证指数有限公司11月28日公布沪深300、中证500、中证1000、中证A50、中证A100、中证A500等指数样本定期调整方案。此次调整为指数样本的定期 调整，将于12月12日收市后正式生效。 具体来看： 沪深300指数更换11只样本，国联民生、光启技术、宁波港、华电新能、东山精密、中天科技、指南针、光线传媒等调入指数，调出名单包括一汽解放、 欧派家居、福莱特、龙源电力、天合光能等。 | 调出名单 | | 调入名单 | | | --- | --- | --- | --- | | 证券代码 | 证券名称 | 证券代码 | 证券名称 | | 000800 | 一汽解放 | 002384 | 东山精密 | | 001289 | 龙源电力 | 002625 | 光启技术 | | 002129 | TCL 中环 | 300251 | 光线传媒 | | 002180 | 纳恩达 | 300476 | 胜宏科技 | | 600332 | 自云山 | 3 ...

Summary of the Conference Call Company and Industry Overview - The company is focused on the rapid development of AI technology and has adjusted its business strategy to concentrate resources on core enterprises like Shenghong, particularly in the HDI and mechanical drilling sectors [2][3] - The company’s existing products, GB200 and GB300, have established a dominant market position, with nearly all large-scale production being supplied by the company [2] Key Points and Arguments - The company is leveraging ultra-fast laser technology to address challenges posed by M9 material processing, which has been widely applied in Apple products [2][5] - The company plans to expand its product lines to include exposure, forming, laminating, and testing, aiming to maximize value in AI scenarios [2][6] - By 2030, the PCB market value is expected to rise to $100-200 billion, driven by the AI industry, potentially doubling the size of the original market [2][8] - The company anticipates mass production of ultra-fast laser technology by mid-2026, with significant demand expected from the AI market [2][9] Financial Performance and Market Position - The company has shown steady performance improvements year-on-year and quarter-on-quarter, establishing a solid foundation for long-term growth [3] - Currently, 80% of the company's revenue comes from drilling equipment, with plans to transition into a high-end equipment supplier [4][14] - The company maintains a gross margin of approximately 50% and aims to enhance precision and efficiency in its products [21] Technological Developments - The transition from CO2 lasers to ultra-fast lasers is aligned with industry trends, with expectations for mass production to begin in 2026 [7] - The complexity of PCB drilling processes has increased significantly in AI applications, necessitating more advanced equipment to handle higher density and thickness [11] - CCD backup drilling equipment has shown strong market performance, with sales expected to account for 40%-50% of the required drilling machines in AI scenarios [12] Competitive Landscape - New entrants in the PCB field have not significantly impacted the existing market structure due to their lack of understanding of PCB-specific requirements [15] - Major technology companies continue to invest heavily in the industry, indicating a positive long-term outlook despite short-term market fluctuations [16][17] Future Outlook - The company is optimistic about the AI market's growth, with expectations of significant increases in equipment demand and value as technology evolves [22] - Collaboration with key clients like Pengding is crucial, with ongoing advancements in ultra-fast laser drilling machines expected to deepen these partnerships [19] - The company is transforming into a high-end equipment supplier, focusing on producing more technically demanding products and expanding its presence in the core supply chains of leading enterprises [20]