Core Viewpoint - Recent rumors suggested that Nvidia (NVDA.US) has partnered with Xingsen Technology (002436.SZ) to take over 20% of high-end high-density interconnect (HDI) board orders previously supplied exclusively by Shenghong Technology (300476.SZ). However, both Shenghong Technology and Xingsen Technology have denied these rumors, stating that no such agreements have been made and that their order situations remain stable and optimistic [1][3]. Company Insights - Shenghong Technology has confirmed that it has not received any official communication from Bloomberg regarding the rumored partnership and has not found any related information on Bloomberg's website. The company maintains that its overall business performance is good, and core customer orders have not significantly changed [1][3]. - Xingsen Technology has stated that all information should be based on official announcements and will not disclose specific customer cooperation details. As of the report's publication, no announcements related to Nvidia orders have been found on the Shenzhen Stock Exchange information disclosure platform [3]. Industry Context - HDI (High-Density Interconnect) boards are advanced PCB technologies developed to meet the demands of miniaturization, high integration, and high performance in electronic devices. This segment is characterized by high added value and significant technical barriers compared to traditional PCBs [3]. - Shenghong Technology is one of the first companies globally to achieve large-scale production of 6-layer 24-layer HDI boards and possesses capabilities for 8-layer 28-layer HDI and 16-layer arbitrary interconnection HDI technology. High-layer and high-end HDI PCBs are essential for high-density wiring and high-speed signal transmission in AI servers and other high-performance computing devices [3]. - Xingsen Technology's main business includes the research, production, and sales of circuit boards, with applications in consumer electronics, communication devices, and automotive electronics. The company has disclosed its capabilities in high-end HDI and high-frequency high-speed PCBs, with technology for multilayer boards exceeding 18 layers [3].

Core 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].