Core Viewpoint - The legal opinion letter from Beijing Jiayuan Law Firm confirms the compliance and authorization of Tianjin Printronics Circuit Co., Ltd.'s stock option incentive plan, including the cancellation of certain stock options and the achievement of the first exercise period conditions. Group 1: Authorization and Approval - Tianjin Printronics has completed the necessary procedures for the implementation of the stock option incentive plan, including the cancellation and achievement of exercise conditions, as per relevant regulations [2][5][6]. Group 2: Cancellation of Stock Options - A total of 26,328 stock options will be canceled due to six incentive objects not meeting the 100% performance coefficient requirement based on their annual performance evaluations [5][6][11]. - The cancellation aligns with the provisions of the incentive plan, company articles, and relevant regulations [6][11]. Group 3: Achievement of Exercise Conditions - The first exercise period conditions have been met, allowing 10 incentive objects to exercise their options [10][11]. - The performance requirements include a company revenue growth rate of at least 30%, with 2023 revenue at 646 million and 2024 revenue projected at 1.128 billion [8][10]. - The exercise arrangement allows for a 50% exercise of options after 12 months and another 50% after 24 months from the authorization date [7][8].

Core Points - The announcement details the achievement of the first exercise conditions for the 2024 stock option incentive plan of Tianjin Printronics Circuit Co., Ltd, allowing 10 designated individuals to exercise a total of 1.968272 million stock options at a price of 8.98 yuan per share [1][3][9] Summary by Sections Stock Option Incentive Plan - The stock option incentive plan involves 10 recipients with a total of 1.968272 million stock options available for exercise [1][5] - The exercise price is set at 8.98 yuan per share [1][3] Approval Process - The plan underwent necessary approval procedures, including discussions and approvals at the board and supervisory committee meetings [2][4] - The plan was publicly disclosed, and no objections were raised during the public comment period [2] Conditions for Exercise - The first exercise period is defined as the period from 12 months after the grant date until 24 months after the grant date, with a 50% exercise ratio of the total granted options [4] - The company must meet specific performance criteria, including a revenue growth rate of at least 30% for 2023 and 2024, with 2024 revenue projected at 1.128 billion yuan [4][6] Performance Assessment - Out of the 10 recipients, 6 did not meet the required performance levels, resulting in the cancellation of 26,328 stock options [6][9] - The board and supervisory committee confirmed that the exercise conditions for the first period have been met [9][10] Financial Implications - The exercise of stock options is expected to have a minimal impact on the company's earnings per share and return on equity [7] - The funds raised from the exercise will be used to supplement the company's working capital [7] Legal and Compliance - The legal opinions confirm that the stock option incentive plan complies with relevant regulations and is valid [10]

格隆汇8月26日丨世运电路(603920.SH)发布2025年半年度报告，报告期实现营业收入25.79亿元，同比增 长7.64%；归属上市公司股东的净利润3.84亿元，同比增长26.89%；扣除非经常性损益后的归属于上市 公司股东的净利润3.57亿元，同比增长19.55%；基本每股收益0.53元。 ...

Core Viewpoint - The company plans to invest approximately 1.5 billion RMB in the "Chip Innovation and Intelligence Carrier" project to enhance the production capacity of embedded chip PCB products and advanced HDI circuit boards [1] Group 1 - The project aims to scale up the production of embedded chip PCB products and improve the capacity of high-end HDI products [1] - The planned design capacity for the project is 660,000 square meters per year [1]

Core Insights - The company, Shiyun Circuit (603920), reported a revenue of 2.579 billion yuan for the first half of 2025, reflecting a year-on-year growth of 7.64% [1] - The net profit attributable to shareholders reached 384 million yuan, marking a significant year-on-year increase of 26.89% [1] - Basic earnings per share were reported at 0.53 yuan [1] Revenue Growth - The increase in revenue is primarily attributed to a rise in orders and optimization of product structure [1] Profitability Factors - The growth in net profit is driven by increased revenue, improved gross margin due to product structure optimization, and additional income from financial investments and foreign exchange gains [1]

Summary of Key Points Core Viewpoint The article discusses the changes and delays in the fundraising investment projects of Guangdong Shiyun Circuit Technology Co., Ltd. The company plans to redirect part of its raised funds to a new high-precision printed circuit board project while extending the completion timelines for existing projects. Group 1: Fundraising Overview - The company raised a total of RMB 179,305.65 million by issuing 117,964,243 shares at RMB 15.20 per share, with net proceeds amounting to RMB 177,700.23 million after deducting various fees [1][2][3] - As of June 30, 2025, the total investment commitment for the projects is RMB 184,975.51 million, with RMB 54,940.42 million already invested, leaving a remaining balance of RMB 122,759.81 million [3][4] Group 2: Changes in Investment Projects - The company intends to change the allocation of uninvested funds from the "Heshan Shimao Electronics Technology Co., Ltd. new construction project" to a new high-precision printed circuit board project, with a total investment of RMB 112,649.78 million [4][5][6] - The completion date for the original project has been extended from December 2025 to June 2027, while the new project is expected to be operational by December 2026 [5][6] Group 3: Reasons for Changes and Delays - The changes are driven by strategic adjustments and market conditions, including the need for an overseas production base to meet international market demands and enhance supply chain security [9][10] - The company aims to improve its production capacity and efficiency by investing in advanced production equipment and attracting high-end talent [8][9] Group 4: New Project Details - The new project will focus on high-density and multi-layer printed circuit boards, with an investment of RMB 52,000.00 million from the raised funds [10][11] - The project is expected to generate annual sales revenue of RMB 71,964.00 million and a net profit of RMB 12,085.43 million upon reaching full capacity [17][18] Group 5: Market Outlook - The global PCB industry is projected to grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2029, reaching a market value of USD 94.7 billion by 2029 [12][18] - The demand for PCBs is expected to increase significantly due to advancements in artificial intelligence and the automotive sector, particularly for high-density interconnect (HDI) boards [18][19]

证券代码：603920 证券简称：世运电路 公告编号：2025-068 广东世运电路科技股份有限公司 关于召开2025年第三次临时股东会的通知 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。 重要内容提示： (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的方 式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 9 月 11 日 13 点 30 分 召开地点：广东省鹤山市共和镇世运路 8 号世运电路公司三楼会议室 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 9 月 11 日 至2025 年 9 月 11 日 本次股东会审议议案及投票股东类型 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互 联网投票平台的投票时间为股东会召开当日的 9:15-15:00。 (六)融资融券、转融通、约定购 ...

Summary of Key Points Core Viewpoint The announcement provides a detailed account of the fundraising activities and the management of the raised funds by Guangdong Shiyun Circuit Technology Co., Ltd. It outlines the total amount raised, the allocation of funds, and the management practices in place to ensure compliance with regulations. Fundraising Overview - The company raised a total of RMB 179,305.65 million by issuing 117,964,243 shares at RMB 15.20 per share, with net proceeds amounting to RMB 177,700.23 million after deducting various fees [1][2] - The funds were verified by Tianjian Accounting Firm, which issued a verification report [1] Fund Usage and Balance - As of the reporting period, the company had utilized RMB 54,940.41 million of the raised funds, with a net interest income of RMB 2,415.65 million [2][3] - The remaining balance of the raised funds was RMB 125,249.04 million, showing a discrepancy of RMB 73.57 million due to various fees and interest [2][3] Fund Management Practices - The company has established a fundraising management system to ensure the proper use and oversight of the raised funds, in compliance with relevant laws and regulations [3][4] - Funds are stored in dedicated bank accounts, and a tripartite supervision agreement was signed with the underwriter and banks to clarify the rights and obligations of all parties involved [4] Investment and Cash Management - The company has not used idle funds to temporarily supplement working capital and has instead engaged in cash management by investing in low-risk financial products [5][6] - The board approved the use of up to RMB 150,000 million of temporarily idle funds for cash management, ensuring that it does not affect the normal operation of investment projects [5][6] Fund Allocation and Project Status - The company has not changed the use of the raised funds for any projects and has adhered to the planned allocation [7] - There are no significant issues reported regarding the use and disclosure of the raised funds during the reporting period [7]

证券代码：603920 证券简称：世运电路 公告编号：2025-064 广东世运电路科技股份有限公司 关于变更部分募投项目及部分募投项目延期的公告 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。 重要内容提示： ? 原项目一名称：鹤山世茂电子科技有限公司年产 300 万平方米线路板新 建项目（二期）（以下简称"原项目一"） ? 原项目二名称：广东世运电路科技股份有限公司多层板技术升级项目（以 下简称"原项目二"） ? 新项目名称、投资金额：泰国高峰绿色工业园新建年产 120 万平方米高 端、高精密度印制电路板建设项目（一期）（以下简称"新项目"），计划总投 资额为 112,649.78 万元。 ? 变更募集资金投向的金额：原项目一的募集资金承诺投资总额为 于原项目一的实际建设进度，剩余尚未投入的募集资金合计 49,515.35 万元（截 至 2025 年 6 月 30 日已投入 8,184.88 万元，不包括累计收到的银行存款利息及 现金管理产品收益等扣除银行手续费后的净额，实际金额以转出及销户当日募集 资金专户中的余额为准） ...

世运电路公告，2025年上半年营业收入25.79亿元，同比增长7.64%。净利润3.84亿元，同比增长 26.89%。 ...