证券代码：300964 证券简称：本川智能 公告编号：2025-038 江苏本川智能电路科技股份有限公司 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、担保情况概述 零售；货物进出口；信息系统运行维护服务；软件开发；信息系统集成服务；信 息技术咨询服务；企业管理咨询；社会经济咨询服务；技术服务、技术开发、技 术咨询、技术交流、技术转让、技术推广；普通货物仓储服务（不含危险化学品 等需许可审批的项目）。 （除依法须经批准的项目外，凭营业执照依法自主开展经 营活动）； 近日，江苏本川智能电路科技股份有限公司（以下简称"公司"）与宁波银 行股份有限公司深圳分行（以下简称"宁波银行"）签订《最高额保证合同》，根 据合同约定，公司为全资子公司珠海硕鸿电路板有限公司（以下简称"珠海硕鸿"） 与宁波银行签订授信业务合同项下形成的债务提供连带责任保证担保，最高债权 限额为债权最高本金限额等值人民币 5,000 万元和相应的利息、罚息、违约金、 损害赔偿金以及为实现债权、担保权利等所发生的一切费用。 二、担保额度的审批 公司于 2025 年 4 月 24 日召开的第三届董 ...

Group 1 - Foreign trade enterprises are actively expanding into the domestic market to enhance resilience against external uncertainties, supported by government initiatives and e-commerce platforms [1][3][4] - The domestic small home appliance market has significant growth potential, with companies like Xinbao actively developing their own brands and exploring new marketing strategies [2][3] - In April, domestic sales of companies engaged in exports to the U.S. increased by 4.7% year-on-year, with 21 out of 31 manufacturing sectors showing improved domestic sales ratios compared to the previous year [3][4] Group 2 - E-commerce platforms have implemented measures to support foreign trade enterprises, resulting in over 3,100 foreign trade companies entering the market and generating sales exceeding 1.1 billion yuan [4][5] - The "Thousand Billion Support" plan by Pinduoduo aims to provide subsidies to cross-border small and medium-sized enterprises, helping them stabilize production and expand into the domestic market [5][6] - There is a need for enhanced policy support and financial assistance for foreign trade enterprises transitioning to domestic sales, as they face various challenges during this transformation [6][7] Group 3 - The government is promoting the integration of domestic and foreign trade, helping enterprises effectively respond to external shocks and encouraging participation in initiatives like "Old for New" [3][6] - Local governments are also taking action to support foreign trade enterprises, such as including foreign trade products in consumption policies and organizing promotional events [3][6] - Industry experts emphasize the importance of building brands and obtaining compliance qualifications for foreign trade enterprises to successfully enter the domestic market [7]

博敏电子面向AI时代建设的首座高端PCB工厂"创芯智造园"今日投产。智通财经记者现场获悉，该园区 总投资30亿元，规划产能360万平方米/年。目前，创芯智造园的第一座专业化智造工厂，即聚焦于AI服 务器、网络通信、汽车电子三大领域的高速及高可靠性PCB产品的M4工厂开始投产，具备52层、厚径 比30:1的通孔能力和7阶HDI能力，高阶产品产出能力36万平方米/年。（智通财经记者 陆婷婷） 博敏电子创芯智造园今投产 M4工厂高阶产品年产能达36万平方米 ...

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： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东大会召开的时间：2025年5月23日 (二)股东大会召开的地点：广东省梅州市经济开发试验区东升工业园B区公司一楼会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ 二、议案审议情况 表决情况： (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，董事长徐缓先生主持，会议以现场投票与网络投票相结合的方式进行 表决，会议的召集、召开和表决方式符合《公司法》《公司章程》等有关规定。 (五)公司董事、监事和董事会秘书的出席情况 1、公司在任董事6人，出席6人； 2、公司在任监事3人，出席3人； 3、董事会秘书黄晓丹女士出席本次股东大会；除副总经理王强先生请假外，公司其他高级管理人员列 席本次股东大会。 (一)非累积投票议案 1、议案名称：关于公司《2024年年度报告及摘要》的议案 审议结果：通过 ■ 2、议案名称：关于公司《20 ...

中银国际证券股份有限公司苏凌瑶,李圣宣近期对生益电子进行研究并发布了研究报告《深化产品布局驱动增 长，强研发重产投凝聚新动能》，给予生益电子买入评级。 生益电子(688183) 评级面临的主要风险 宏观经济波动风险、AI需求不及预期、行业景气不及预期、研发水平不及预期、国际贸易摩擦加剧 投资摘要 证券之星数据中心根据近三年发布的研报数据计算，东北证券李玖研究员团队对该股研究较为深入，近三年 预测准确度均值为72.78%，其预测2025年度归属净利润为盈利8.9亿，根据现价换算的预测PE为27.88。 最新盈利预测明细如下： 公司发布2024年年报及2025年一季报，2024年公司利润实现大幅度扭亏，1Q25经营延续同比向好态势，维 持"买入"评级。 支撑评级的要点 2024年生益电子营收增长，利润大幅度扭亏，1Q25经营延续同比向好态势。公司2024年全年实现收入46.87亿 元，同比+43.19%，实现归母净利润3.32亿元，实现扣非归母净利润3.27亿元，同比皆大幅度扭亏。单季度来 看，公司25Q1实现营收15.79亿元，同比+78.55%/环比+4.79%，实现归母净利润2.00亿元，同比+656.87 ...

Group 1: Company Overview - The main business of the company is the research, development, production, and sales of printed circuit boards (PCBs) [6] - As of March 31, 2025, the number of shareholders is 27,571 [5] Group 2: Financial Performance - In 2024, the company achieved an operating income of RMB 1.559 billion, a year-on-year decrease of 3.70% [3] - The net profit attributable to shareholders was RMB 11.384 million, a significant decline of 88.91% year-on-year [3] - The net cash flow from operating activities was RMB 156 million [3] Group 3: Market Challenges - The decline in foreign sales revenue was influenced by market conditions in Europe and the United States, leading to a decrease in export business [3] - The company faced pressure from rising raw material prices and intensified industry competition, resulting in a decrease in gross margin [7] - New product lines are still in the capacity ramp-up phase, contributing to losses in related business areas [7] Group 4: Strategic Focus - In 2025, the company will focus on high-precision, high-density, and high-reliability PCB technologies, including advanced packaging and thermal management [3] - The company aims to enhance its manufacturing capabilities for high-tech, high-value-added products to strategically upgrade its product structure [3] Group 5: Share Buyback Plan - The company announced a share buyback plan on May 14, 2025, intending to repurchase shares using between RMB 15 million and RMB 25 million of its own or raised funds [2]

Group 1: PCB Business Overview - The company's PCB business focuses on communication equipment, particularly in data centers and automotive electronics, with a slight recovery in wireless communication orders compared to Q4 2024 [1] - The demand for wired communication orders remains strong, with a higher proportion than wireless communication [1] - The data center sector continues to see growth in orders, driven by the demand for AI acceleration cards and servers [1] Group 2: Packaging Substrate Business - The packaging substrate products cover a wide range, including module packaging substrates and storage packaging substrates, primarily used in mobile smart terminals and servers [2] - There has been a noticeable improvement in demand for packaging substrates in Q1 2025 compared to Q4 2024, mainly due to increased demand for storage products [2] Group 3: Production Capacity and Utilization - The overall production capacity utilization remains high, particularly in the PCB business due to sustained demand in computing power and automotive electronics [3] - The packaging substrate business has also seen an increase in capacity utilization due to improved demand in the storage sector compared to Q4 2024 [3] Group 4: FC-BGA Packaging Substrate Technology - The company has achieved batch production capability for FC-BGA packaging substrates with 20 layers or fewer, while R&D for products with more than 20 layers is progressing on schedule [4] - The Guangzhou packaging substrate project is in the early stages of ramping up production, with a reduction in losses in Q1 2025 compared to previous quarters [4] Group 5: Expansion Plans - The company has PCB factories in Shenzhen, Wuxi, Nantong, and a factory under construction in Thailand, focusing on technological upgrades to enhance capacity [5] - The Nantong Phase IV project is underway to establish an HDI technology platform and capacity [5] Group 6: Thailand Factory Investment - The total investment for the Thailand factory is 1.274 billion RMB, with construction progressing on schedule [6] - The factory will have capabilities for high-layer and HDI PCB technologies, aiding in the expansion of overseas markets [6] Group 7: Raw Material Price Changes - Key raw materials include copper-clad laminates and gold salts, with prices increasing year-on-year and compared to Q4 2024 due to commodity price fluctuations [7][8] - The company is monitoring international commodity prices and maintaining communication with suppliers and customers [8]

Group 1: Business Overview - The company focuses on PCB business applications primarily in communication equipment, with a significant emphasis on data centers and automotive electronics [1] - In Q1 2025, the wireless communication orders slightly rebounded compared to Q4 2024, while the demand for wired communication remains strong [1] - The data center orders continued to grow, driven by the demand for AI accelerator cards and servers [1] Group 2: Packaging Substrate Business - The company offers a wide range of packaging substrate products, including module packaging substrates and storage packaging substrates, mainly used in mobile smart terminals and servers [2] - In Q1 2025, the demand for packaging substrates improved compared to Q4 2024, primarily due to increased demand for storage products [2] Group 3: Production Capacity and Utilization - The overall production capacity utilization remains high, with PCB business benefiting from sustained demand in computing and automotive electronics [3] - The packaging substrate business has seen an increase in capacity utilization due to improved demand in the storage sector compared to Q4 2024 [3] Group 4: U.S. Sales and Tariff Impact - Direct sales to the U.S. accounted for a low percentage of total revenue, indicating minimal impact from U.S. tariff policies [4] - The company is closely monitoring the evolving international trade environment and maintaining communication with industry stakeholders [4] Group 5: FC-BGA Packaging Substrate Development - The company has achieved mass production capability for FC-BGA packaging substrates with up to 20 layers, while R&D for products with more than 20 layers is progressing on schedule [5] - The Guangzhou packaging substrate project is in the early stages of ramping up production, with a reduction in losses observed in Q1 2025 compared to previous quarters [5] Group 6: Expansion Plans - The company has factories in Shenzhen, Wuxi, Nantong, and a project under construction in Thailand, focusing on upgrading existing facilities to enhance capacity [6] - The total investment in the Thailand factory is approximately 1.274 billion RMB, aimed at expanding overseas market reach and improving global supply capabilities [7][8] Group 7: Raw Material Price Trends - In Q1 2025, prices for certain raw materials, such as gold salt, increased compared to both Q1 2024 and Q4 2024, influenced by commodity price fluctuations [8] - The company is actively monitoring raw material price changes and maintaining communication with suppliers and customers [8] Group 8: AI and PCB Business - The demand for high-performance PCBs is increasing due to the rapid evolution of AI technology and the need for high-speed networks [8] - The company's PCB business has benefited from trends in high-speed communication networks and data center applications since 2024 [8]

Group 1 - The company held its 2024 annual and Q1 2025 performance briefing on May 9, 2025, via an online interactive format [2] - Key executives, including the chairman and financial director, participated in the briefing to address investor inquiries [2] Group 2 - The company reported a revenue of 1,293,004,000.87 yuan for 2024, a year-on-year increase of 19.45%, and a net profit of 141,498,579.04 yuan, up 6.45% from the previous year [4] - For Q1 2025, the company achieved a revenue of 338,048,302.63 yuan, representing a 23.17% increase year-on-year, with a net profit of 36,618,662.83 yuan, up 17.25% [5] Group 3 - The company plans to invest 135 million yuan in a project to upgrade "high-density interconnect substrate" production technology, with trial production expected in Q1 2026 [5] - The company aims to enhance its competitiveness in traditional sectors while expanding into emerging fields such as electric vehicles and AI computing centers [3][4]

Group 1: Financial Performance - In 2024, the company's operating revenue increased by 11.75% year-on-year, primarily driven by growth in the HDI segment and the introduction of global renowned terminal customers [1] - The net profit attributable to shareholders for 2024 was -87,433,652.40 CNY, indicating a reduction in losses compared to previous periods [2] - The company achieved profitability in Q4 2024 and Q1 2025, marking two consecutive quarters of profit [3] Group 2: Product Development and Market Position - The main products, including high-layer PCB, mid-to-high-end HDI, and flexible circuits (FPC), showed stable growth in 2024 [1] - The company is actively developing new technologies and products in AI, high-speed storage, high-frequency communication, smart driving, low-altitude flying vehicles, and robotics [1] - The company has enhanced its product structure by focusing on high-layer boards and high-end HDI boards, with an increasing proportion of products with 8 layers or more [7] Group 3: Capacity and Operational Efficiency - The new factory in Zhuhai is gradually increasing its capacity utilization, with expectations for steady growth in output [2] - The company is implementing strategies to optimize asset structure and cost control, which have improved operational quality and profitability [3] - The company plans to enhance manufacturing and operational efficiency, focusing on high-end products and emerging markets [8] Group 4: Strategic Initiatives and Market Expansion - The company is seeking advantageous mergers and acquisitions to enhance product structure, technology, and expand the value chain [2] - The company has established offices or subsidiaries in Taiwan, Hong Kong, Singapore, and Thailand to expand overseas marketing channels [4] - The company anticipates that the global PCB market will exceed $100 billion by 2027, driven by smart upgrades and emerging applications [6] Group 5: Research and Development - R&D expenses are increasing, focusing on new energy vehicles, smart driving, AI, and high-frequency communication [5] - The company is recognized as a high-tech enterprise and has established provincial and national-level research centers, indicating strong R&D capabilities [5] - The demand for PCBs is expected to grow significantly due to the increasing requirements for computing power and AI applications [6]