Core Insights - The PCB industry is experiencing significant growth driven by the demand for AI computing infrastructure and the upgrade of consumer electronics [1][4][9] Company Performance - Haoshi Electromechanical expects a net profit increase of 54.4% to 99.03% for 2025, with projected profits between 128 million to 165 million yuan [2] - The company attributes its growth to the rising demand in the PCB market driven by AI computing infrastructure and consumer electronics upgrades, alongside accelerated domestic substitution and technological innovation [2][4] - Shenghong Technology anticipates a net profit increase of 260.35% to 295% for 2025, with expected profits between 4.16 billion to 4.56 billion yuan [5] - The company emphasizes its commitment to embracing AI and capitalizing on the historical opportunities presented by the AI computing technology revolution [6][7] Market Trends - The PCB industry is witnessing structural growth due to the rapid increase in demand for AI computing infrastructure and continuous upgrades in consumer electronics [4][9] - The global PCB market is projected to grow by approximately 5.8% in 2024 and 6.8% in 2025, with a compound annual growth rate of about 5.2% expected until 2029 [9] - The demand for high-density interconnect (HDI) and high-layer count boards is surging, leading global PCB companies to increase capital investments and expand high-end production capacity [9] Other Companies' Performance - Other PCB companies, such as Jin'an Guoji, Xinqi Microelectronics, and Guanghe Technology, are also expected to report significant profit increases in 2025 [8] - Jin'an Guoji anticipates a net profit of 280 million to 360 million yuan, representing a year-on-year growth of 655.53% to 871.40% [8]

Core Viewpoint - Guangzhou Guanghe Technology Co., Ltd. is in the process of applying for the issuance of overseas listed shares (H shares) and listing on the Hong Kong Stock Exchange, having received a filing notice from the China Securities Regulatory Commission (CSRC) [1][2]. Group 1 - The company plans to issue no more than 54,393,500 overseas listed ordinary shares for listing on the Hong Kong Stock Exchange [1]. - Within 15 working days after completing the overseas issuance and listing, the company must report the issuance and listing situation through the CSRC filing management information system [2]. - If the company does not complete the overseas issuance and listing within 12 months from the date of the filing notice, it must update the filing materials if it intends to continue [3]. Group 2 - The filing notice confirms the company's overseas issuance listing information but does not imply any substantive judgment or guarantee by the CSRC regarding the investment value of the company's securities or investor returns [3]. - The company still needs to obtain approvals from relevant regulatory bodies, including the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange, indicating that there are uncertainties regarding this matter [3]. - The company will fulfill its information disclosure obligations in a timely manner based on the progress of this matter [3].

Core Viewpoint - The PCB industry is experiencing significant growth driven by the demand for AI computing infrastructure and the upgrade of consumer electronics, leading to positive earnings forecasts for related listed companies [1][4]. Company Summaries - **昊志机电 (Haozhi Electromechanical)**: The company expects a net profit of 128 million to 165 million yuan for 2025, representing a year-on-year increase of 54.4% to 99.03%. The growth is attributed to increased demand in the PCB market driven by AI computing infrastructure and consumer electronics upgrades, as well as accelerated domestic substitution and technological innovation [1]. - **胜宏科技 (Shenghong Technology)**: The company forecasts a net profit of 4.16 billion to 4.56 billion yuan for 2025, with a year-on-year growth of 260.35% to 295%. The growth is driven by the expansion of AI infrastructure and data center upgrades, with a focus on high-end products and global service capabilities [2][3]. - **金安国纪 (Jin'an Guoji)**: The company anticipates a net profit of 28 million to 36 million yuan for 2025, reflecting a year-on-year increase of 655% to 871%. The growth is due to improved market conditions for copper-clad laminates and increased sales volume and prices [3]. - **东威科技 (Dongwei Technology)**: The company expects its net profit to double in 2025, benefiting from the investment boom in Southeast Asia and the rapid development of AI and computing sectors [3]. Industry Insights - The rapid development of AI applications has significantly boosted the demand for high-end printed circuit boards (PCBs), pushing the industry into a high prosperity cycle. New fields such as AI servers and smart driving require higher standards for PCB layers, precision, and reliability, leading to increased demand for high-density interconnect (HDI) and multi-layer boards [4]. - According to Prismark, the global PCB market is projected to grow by approximately 5.8% in 2024 and 6.8% in 2025, with a compound annual growth rate of about 5.2% expected until 2029. The AI server-related HDI segment is predicted to grow at an average annual rate of 16.3% from 2023 to 2028, making it the fastest-growing category in the PCB market [5].

证券代码：001389 证券简称：广合科技 公告编号：2026-003 广州广合科技股份有限公司 关于发行境外上市股份（H 股） 1 / 2 将根据该事项的进展情况及时履行信息披露义务，敬请广大投资者注意投资风险。 获得中国证监会备案的公告 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。 广州广合科技股份有限公司（以下简称"公司"）正在进行申请境外发行股 份（H 股）并在香港联合交易所有限公司（以下简称"香港联交所"）主板挂牌 上市（以下简称"本次境外发行上市"）的相关工作，公司于近日收到中国证券 监督管理委员会（以下简称"中国证监会"）出具的《关于广州广合科技股份有 限公司境外发行上市备案通知书》（国合函〔2026〕161 号）（以下简称"备案通 知书"）。备案通知书主要内容如下： 一、公司拟发行不超过 54,393,500 股境外上市普通股并在香港联交所上市。 二、自备案通知书出具之日起至本次境外发行上市结束前，公司如发生重 大事项，应根据境内企业境外发行上市有关规定，通过中国证监会备案管理信 息系统报告。 三、公司完成境外发行上市后 15 个工作日内，应 ...

格隆汇1月23日丨广合科技(001389.SZ)公布，公司正在进行申请境外发行股份（H股）并在香港联合交 易所有限公司（简称"香港联交所"）主板挂牌上市的相关工作，公司于近日收到中国证券监督管理委员 会（简称"中国证监会"）出具的《关于广州广合科技股份有限公司境外发行上市备案通知书》（国合函 〔2026〕161号）。 ...

广合科技公告称，公司申请境外发行股份（H股）并在香港联交所主板挂牌上市，近日收到中国证监会 备案通知书。公司拟发行不超5439.35万股境外上市普通股并在港交所上市。自通知书出具日至发行结 束前，若发生重大事项，公司应报告。完成发行后15个工作日内，需报告发行情况。本次境外发行上市 尚需取得港相关监管机构、交易所批准，存在不确定性。 ...

Group 1 - The company's stock (Guangzhou Guanghe Technology Co., Ltd., stock code: 001389) experienced an abnormal trading fluctuation, with a cumulative closing price increase exceeding 20% over three consecutive trading days from January 20 to January 22, 2026 [1] Group 2 - The company's board conducted a comprehensive self-examination and confirmed that there were no corrections or supplements needed for previously disclosed information [2] - No significant changes in the company's operational situation or external environment were reported [2] - The controlling shareholder and actual controller did not engage in any trading of the company's stock during the abnormal fluctuation period [2] Group 3 - The board confirmed that there are no undisclosed matters that should have been disclosed according to the Shenzhen Stock Exchange's listing rules [3] - The company has not received any information that would significantly impact the trading price of its stock or derivatives [3]

Group 1 - The Shanghai Composite Index rose by 0.14% to close at 4122.58 points, while the Shenzhen Component Index increased by 0.5% to 14327.05 points, and the ChiNext Index climbed by 1.01% to 3328.65 points [1] - A total of 92 stocks in the A-share market hit the daily limit up, with the top three strong stocks being Baiyin Nonferrous (601212), Hunan Baiyin (002716), and Guanghe Technology (001389) [1] - The top 10 strong stocks based on consecutive limit-up days and turnover rates include Baiyin Nonferrous with 3 consecutive limit-ups and a turnover rate of 8.33%, Hunan Baiyin with 3 consecutive limit-ups and a turnover rate of 32.2%, and Guanghe Technology with 2 consecutive limit-ups and a turnover rate of 20.2% [1] Group 2 - The top three concept sectors with the highest gains are Domestic Aircraft Carriers at 3.82%, Combustible Ice at 3.57%, and Chengfei Concept at 3.44% [2] - The top 10 concept sectors by gain percentage include Large Aircraft at 3.04%, Terahertz at 3.01%, Shale Gas at 2.99%, Aviation Engines at 2.9%, Special Steel Concept at 2.82%, Natural Gas at 2.76%, and China Shipbuilding System at 2.73% [2]

Market Overview - On January 22, the Shanghai Composite Index rose by 0.14% to 4122 points, the Shenzhen Component Index increased by 0.5%, and the ChiNext Index gained 1.01% with a total market turnover of 2.72 trillion yuan, over 3500 stocks rising [1] Stock Highlights - Jia Mei Packaging (002969) surged by 49.99% to 21.35 yuan, driven by a change in control and its leading position in three-piece cans [2] - Fenglong Co., Ltd. (002931) increased by 10.01% to 90.48 yuan, benefiting from a major investment by UBTECH and its association with robotics [2] - Jiuding New Materials (002201) rose by 10.00% to 13.86 yuan, linked to fiberglass new materials and commercial aerospace [2] - Jianghua Micro (603078) gained 9.99% to 28.51 yuan, following a state-owned enterprise takeover and its focus on chip materials [2] - Aviation Power Technology (600391) increased by 10.00% to 53.36 yuan, associated with military equipment and central enterprise backing [2] Trading Dynamics - The top three net buying stocks on the day were Pengding Holdings (002938) with 325 million yuan, Snowman Group (002639) with 316 million yuan, and Baiyin Nonferrous Metals (601212) with 257 million yuan [3] - The top three net selling stocks were Hunan Baiyin (002716) with 659 million yuan, Founder Electric (002196) with 281 million yuan, and Yifan Transmission (301023) with 152 million yuan [6] Industry Trends - The commercial aerospace industry is experiencing significant growth, with a report from Galaxy Securities indicating a dual push from both demand and supply sides [11] - SpaceX is reportedly advancing its IPO plans, aiming for completion by July this year, which could further stimulate interest in the commercial aerospace sector [10] Company Developments - Shenxinfu (300454) saw a trading halt with a 20.00% increase, with a turnover of 38.28 billion yuan and a net institutional buy of 269.31 million yuan [12] - The company has established a strong presence in AI computing and security solutions, with significant user adoption and market share [15] Notable Stocks - Guohua Technology (001389) and Qiaoyuan Co., Ltd. (002131) both saw significant trading activity, with Guohua Technology rising by 10.00% and Qiaoyuan Co., Ltd. declining by 10.04% [16][19] - The stock of Hunan Baiyin (002716) experienced a notable increase of 9.97% with a high turnover rate of 32.27% [17]

证券代码：001389 证券简称：广合科技 公告编号：2026-002 广州广合科技股份有限公司 关于公司股价异动的公告 1、公司前期所披露的信息，不存在需要更正、补充之处； 2、公司未发现近期公共媒体报道了可能或已经对公司股票交易价格产 生较大影响的未公开重大信息； 3、近期公司经营情况及内外部经营情况未发生重大变化； 4、控股股东、实际控制人及其一致行动人不存在关于公司应披露而未 披露的重大事项，或处于筹划阶段的重大事项； 5、在公司本次股票异常波动期间，公司控股股东、实际控制人及其一 致行动人不存在买卖公司股票的情况。 1 / 2 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。 一、股票交易异常波动的情况介绍 广州广合科技股份有限公司（以下简称"公司"或"本公司"）股票（证 券简称：广合科技，证券代码：001389）于 2026 年 1 月 20 日、2026 年 1 月 21 日、2026 年 1 月 22 日连续 3 个交易日收盘价涨幅偏离值累计超过了 20%，根据深圳证券交易所的有关规定，属于股票交易异常波动的情况。 二、公司关注及核实情况的说明 ...