Group 1 - The core viewpoint of the news is that Jingwang Electronics has seen a significant increase in its stock price, rising by 5.01% to 67.05 yuan per share, with a total market capitalization of 66.03 billion yuan [1] - Jingwang Electronics, established on March 9, 1993, and listed on January 6, 2017, primarily engages in the research, production, and sales of printed circuit boards, with 94.67% of its revenue coming from this main business [1] - The trading volume for Jingwang Electronics reached 1.6 billion yuan, with a turnover rate of 2.54% [1] Group 2 - According to data from the top ten holdings of funds, Guotai Fund has a significant position in Jingwang Electronics, with its Guotai Minyi Flexible Allocation Mixed Fund (LOF) A holding 43,400 shares, accounting for 4.27% of the fund's net value [2] - The Guotai Minyi Flexible Allocation Mixed Fund (LOF) A has achieved a year-to-date return of 33.3%, ranking 1900 out of 8134 in its category, and a one-year return of 34.54%, ranking 1851 out of 8056 [2] - The fund manager, Chen Zhend, has been in charge for 287 days, with the fund's total assets amounting to 63.99 million yuan, and the best and worst returns during his tenure being 31.16% and 31.04%, respectively [3]

Group 1 - The core viewpoint of the news is that ShenNan Circuit has seen a significant stock price increase of 5.09%, reaching 211.11 CNY per share, with a trading volume of 1.175 billion CNY and a market capitalization of 140.756 billion CNY [1] - ShenNan Circuit Co., Ltd. is located in Longgang District, Shenzhen, Guangdong Province, and was established on July 3, 1984. The company was listed on December 13, 2017, and its main business involves the research, production, and sales of printed circuit boards [1] - The revenue composition of ShenNan Circuit includes printed circuit boards at 60.01%, packaging substrates at 16.64%, electronic assembly at 14.14%, other supplementary products at 5.80%, and other products at 3.40% [1] Group 2 - From the perspective of fund holdings, one fund under Debang Fund has a significant position in ShenNan Circuit. Debang Fuxin A (001229) held 20,200 shares in the third quarter, accounting for 4.42% of the fund's net value, ranking as the tenth largest holding [2] - Debang Fuxin A (001229) was established on April 27, 2015, with a latest scale of 77.9963 million CNY. The fund has achieved a return of 24.66% this year, ranking 3025 out of 8134 in its category, and a one-year return of 33.11%, ranking 2000 out of 8056 [2] Group 3 - The fund manager of Debang Fuxin A (001229) is Lei Tao, who has been in the position for 3 years and 335 days. The total asset scale of the fund is 13.49 billion CNY, with the best return during his tenure being 211.4% and the worst return being -29.94% [3]

Core Points - The stock of Huadian Co., Ltd. increased by 5.45% on November 26, reaching a price of 70.60 yuan per share, with a trading volume of 3.019 billion yuan and a turnover rate of 2.28%, resulting in a total market capitalization of 135.86 billion yuan [1] - Huadian Co., Ltd. is located in Kunshan, Jiangsu Province, and was established on April 14, 1992, with its listing date on August 18, 2010. The company primarily engages in the research, production, and sales of printed circuit boards (PCBs) [1] - The revenue composition of Huadian Co., Ltd. is 95.98% from PCB business and 4.02% from other supplementary sources [1] Fund Holdings - According to data from the top ten heavy stocks of funds, one fund under Yuanxin Yongfeng holds Huadian Co., Ltd. as a significant investment. The Yuanxin Yongfeng Technology-Driven Mixed Fund A (024592) held 18,900 shares in the third quarter, accounting for 6.13% of the fund's net value, making it the fourth-largest heavy stock [2] - The Yuanxin Yongfeng Technology-Driven Mixed Fund A (024592) was established on July 4, 2025, with a latest scale of 16.2452 million yuan and has achieved a return of 32% since inception [2] - The fund manager, Pu Yujia, has been in the position for 1 year and 238 days, managing total assets of 1.644 billion yuan, with the best fund return during the tenure being 31.5% and the worst being 26.25% [2]

Core Viewpoint - The company, Jinbaize (301041.SZ), has confirmed that its products can be applied in the commercial aerospace sector, highlighting its capabilities in high-reliability PCB and electronic assembly [1] Group 1 - The company possesses high-reliability PCB and electronic assembly capabilities [1] - The products of the company are suitable for the aerospace field [1]

Core Viewpoint - The company, Yidun Electronics, emphasizes the high precision, high density, and high reliability of its printed circuit boards, which are widely used across various sectors including automotive electronics, computing and communication, industrial control and medical, new energy and power, as well as multimedia and display [2] Group 1 - The printed circuit boards produced by the company are characterized by high precision [2] - The company’s products are noted for their high density [2] - The reliability of the printed circuit boards is highlighted as a key feature [2] Group 2 - The applications of the company's printed circuit boards span multiple industries, including automotive electronics [2] - The products are also utilized in computing and communication sectors [2] - The company’s offerings extend to industrial control and medical applications [2] - New energy and power sectors are among the areas where the company's products are applied [2] - The multimedia and display fields also benefit from the company's printed circuit boards [2]

Core Viewpoint - Jinlu Electronics (301282) has indicated that its products are not currently applied in the marine equipment sector [1] Company Summary - Jinlu Electronics responded to investor inquiries on November 25, stating that its products have not yet been utilized in the marine equipment field [1]

Group 1 - The company, Chongda Technology, is currently able to deliver high-layer PCB products in the range of 28 to 40 layers based on customer demand [2] - The company is in the sample stage for 70-layer high multilayer boards, which are primarily used in communication equipment, servers, and aerospace [2] - The company is actively advancing the technical development of high-speed products such as 112G and 224G, with relevant technological achievements in server high multilayer PCBs recognized as "domestically leading" [2] Group 2 - The company's R&D achievements have been implemented in key production bases, including the Zhuhai No. 2 factory [2] - Specific technical parameters can be referenced in the company's disclosed periodic reports [2]

Core Viewpoint - The company is actively delivering high-layer products based on customer demand, focusing on layers between 28 to 40, while 70-layer high multi-layer boards are still in the sample stage [1] Group 1: Product Development - The high multi-layer boards are primarily used in communication equipment, servers, and aerospace [1] - The company is advancing the technical development of high-speed products such as 112G and 224G [1] - The technology achievements related to high multi-layer printed circuit boards for servers have been recognized as "domestically leading" [1] Group 2: Production and Application - Relevant research and development results have been deployed and applied in key production bases such as the Zhuhai No. 2 factory [1]

Core Insights - On November 21, Xunji Technology's stock fell by 4.62%, with a trading volume of 41.26 million yuan [1] - The company experienced a net financing outflow of 158,500 yuan on the same day, with total financing and securities lending balance reaching 96.67 million yuan [1] Financing Summary - On November 21, Xunji Technology had a financing purchase amount of 3.0164 million yuan, while the financing repayment was 3.1749 million yuan, resulting in a net financing buy of -158,500 yuan [1] - The current financing balance of 96.67 million yuan accounts for 4.33% of the circulating market value, which is below the 40th percentile level over the past year, indicating a low position [1] Securities Lending Summary - On November 21, there were no shares repaid or sold in securities lending, resulting in a sell amount of 0 yuan [1] - The securities lending balance was also 0, which is above the 90th percentile level over the past year, indicating a high position [1] Company Overview - Shenzhen Xunji Technology Co., Ltd. is located in Bao'an District, Shenzhen, Guangdong Province, and was established on August 19, 2005, with its listing date on May 11, 2021 [1] - The company's main business involves the research, development, production, and sales of printed circuit boards, with revenue composition being 95.34% from printed circuit boards and 4.66% from other sources [1] Financial Performance - As of September 30, Xunji Technology had 5,784 shareholders, an increase of 6.99% from the previous period, while the average circulating shares per person decreased by 6.54% to 23,061 shares [2] - For the period from January to September 2025, the company achieved operating revenue of 488 million yuan, a year-on-year increase of 40.48%, but reported a net profit attributable to shareholders of -16.272 million yuan, a year-on-year decrease of 1,244.32% [2] - Since its A-share listing, the company has distributed a total of 30.0128 million yuan in dividends, with 20.0085 million yuan distributed over the past three years [2]

Core Viewpoint - Zhongfu Circuit experienced a decline of 1.72% on November 21, with a trading volume of 2.13 billion yuan, indicating a potential shift in investor sentiment and market dynamics [1] Financing Summary - On November 21, Zhongfu Circuit had a financing buy-in amount of 176 million yuan and a financing repayment of 154 million yuan, resulting in a net financing purchase of approximately 22.26 million yuan [1] - The total financing and securities lending balance for Zhongfu Circuit reached 471 million yuan, accounting for 3.31% of its circulating market value, which is above the 90th percentile level over the past year, indicating a high financing level [1] - There were no shares sold or repaid in the securities lending segment on November 21, with a total securities lending balance of 0 yuan, also reflecting a high level compared to the past year [1] Company Performance - As of November 10, Zhongfu Circuit had 18,700 shareholders, a decrease of 12.86% from the previous period, while the average circulating shares per person increased by 14.75% to 10,215 shares [2] - For the period from January to September 2025, Zhongfu Circuit reported a revenue of 1.355 billion yuan, representing a year-on-year growth of 29.80%, while the net profit attributable to shareholders decreased by 10.64% to approximately 27.85 million yuan [2] - Since its A-share listing, Zhongfu Circuit has distributed a total of 95.26 million yuan in dividends, with 67.14 million yuan distributed over the past three years [2] Shareholder Composition - As of September 30, 2025, Hong Kong Central Clearing Limited was the fifth-largest circulating shareholder with 2.6649 million shares, marking its entry as a new shareholder, while E Fund Emerging Growth Mixed Fund (000404) exited the top ten circulating shareholders list [2]