| [編纂]的[編纂]數目 | | : [编纂]股H股(視乎[編纂]行使與否而定) | | --- | --- | --- | | [編纂]數目 | . . | [编纂]股H股(可予[編纂]) | | [編纂]數目 | ·· | [編纂]股H股(可予[編纂]及視乎 | | | | [編纂]行使與否而定) | | 最高[編纂] | .. | 每股[編纂][編纂]港元,另加1％經紀佣金、 | | | | 0.0027%證監會交易徵費、0.00565% | | | | 聯交所交易費及0.00015%會財局交易徵費 | | | | (須於申請時以港元繳足,多繳款項可予 | | | | 狠禮) | | 直値 | : : | 每股H股人民幣1.00元 | | [信纂] : [信纂] | | | 智通财经APP获悉，据港交所12月14日披露，广州广合科技股份有限公司(简称：广合科技)递表港交所主板，中信证 券、汇丰为其联席保荐人。 根据弗若斯特沙利文的资料，以2022年至2024年的算力服务器PCB累计收入计，公司在全球算力服务器PCB制造商中 排名第三，在总部位于中国大陆的算力服务器PCB制造商中排名第一。 PCB为组件 ...

受益AI推动，全球PCB行业迎来新一轮上行周期。2024年以来，受益于AI推动的交换机、服务器等算力 基建爆发式增长，智能手机、PC的新一轮AI创新周期，以及汽车电动化/智能化落地带来的量价齐升， HDI、层数较高的多层板等高端品需求快速增长，PCB行业景气度持续上行，根据Prismark数据，2024 年全球PCB产值恢复增长，产值达到735.65亿美元，同比增长5.8%。 中信建投证券指出，随着正交背板需求、Cowop工艺升级，未来PCB将更加类似于半导体，价值量将稳 步提升。其次，亚马逊、Meta、谷歌等自研芯片设计能力弱于英伟达，因此对PCB等材料要求更高，价 值量更有弹性。随着短距离数据传输要求不断提高，PCB持续升级，并带动产业链上游升级，覆铜板从 M6/M7升级到M8/M9。伴随国内PCB公司在全球份额持续提升，并带动上游产业链国产化，从覆铜板 出发，并带动上游高端树脂、玻纤布、铜箔等国内份额进一步提升。 ...

Group 1: PCB Market Overview - The global PCB market is experiencing structural changes, with growth shifting from traditional consumer electronics to high-performance computing and automotive electronics [1] - The market size is projected to reach $75 billion by 2024, with a compound annual growth rate (CAGR) of 3.6% from 2020 to 2024 [1] - By 2029, the market size is expected to grow to $96.8 billion, with a CAGR of 5.2% from 2024 to 2029 [1] - Data communication is the fastest-growing segment, with the market size anticipated to increase from $21.8 billion in 2024 to $32.7 billion in 2029, reflecting a CAGR of 8.4% [1] Group 2: Industry Trends and Innovations - The demand for orthogonal backplanes and Cowop process upgrades is leading to PCB becoming more similar to semiconductors, resulting in a steady increase in value [2] - Companies like Amazon, META, and Google are facing challenges in chip design capabilities compared to NVIDIA, leading to higher requirements for PCBs and materials [2] - The continuous upgrade of PCBs driven by short-distance data transmission requirements is prompting upstream industry upgrades, including the transition of copper-clad laminates from M6/M7 to M8/M9 [2] - Domestic PCB companies are increasing their global market share, driving the localization of upstream supply chains, including high-end resins, fiberglass cloth, and copper foil [2] Group 3: Company Developments - Kintor Laminates (01888) has raised product prices multiple times this year due to cost pressures and demand benefits, with high capacity utilization reported [3] - Kintor Group (00148) is focusing on the entire PCB supply chain, investing approximately 800 to 1,000 million RMB to establish an AI circuit board production line in Guangdong [3] - East Mountain Precision has submitted an application to the Hong Kong Stock Exchange, recognized as the largest PCB supplier for edge AI devices globally [4] - Huadian Co., Ltd. has also submitted an application to the Hong Kong Stock Exchange, leading in PCB revenue within the data center sector globally [5]

（记者 胡玲） 兴森科技（002436.SZ）12月10日在投资者互动平台表示，公司BT载板整体产能规模5万平米/月，原3.5 万平/月产能已满产，新扩1.5万平/月产能处于量产爬坡阶段；ABF载板目前处于小批量生产阶段。 每经AI快讯，有投资者在投资者互动平台提问：请问公司规模量产的是BT载板？还是ABF载板？以哪 种为主？ ...

Group 1 - The core viewpoint of the article is that Jinlu Electronics (301282.SZ) has indicated that its PCB products can be applied in the fields of AI computing power and optical modules [1] Group 2 - The company is actively engaging with investors through an interactive platform to communicate its technological capabilities [1] - The application of PCBs in AI and optical modules suggests potential growth opportunities in these emerging sectors [1]

Core Viewpoint - The company is adjusting its internal investment structure for the "Nantong Qiangda Circuit Technology Co., Ltd. annual production of 960,000 square meters of multilayer boards and HDI board project" to increase the proportion of high-end HDI products in response to market demand [2][4] Investment and Financial Summary - The company plans to raise 531 million yuan through an IPO in 2024, with a net amount of 453 million yuan after deducting issuance costs, allocated as follows: 363 million yuan for the Nantong project and 9 million yuan for working capital [2] - As of November 30, 2025, the investment progress for the Nantong project is at 74.14% [2] Product Structure Adjustment - The product composition is being changed from multilayer boards and 2nd generation HDI to primarily high-layer multilayer boards, with an expanded proportion of high-end HDI products [3][4] - The new products will be applied in various fields including optical modules, AI servers, GPU acceleration cards, general substrates (UBB), automotive millimeter-wave radar, intelligent driving control, humanoid robots, Mini-LED, semiconductor testing, IoT, and low-altitude economy [3][4] Equipment Investment Progress - The equipment investment timeline has been adjusted to start in the second half of year T+2 and complete in batches by year T+6, with production expected to commence in year T+3 [3] - The projected capacity utilization rates are as follows: 18% in year T+3, 35% in year T+4, 75% in year T+5, and 100% in year T+6 [3] Industry Context - The PCB industry is transitioning from a phase of scale expansion to one of structural optimization and technological enhancement, driven by the demand from AI computing, new energy vehicles, and smart terminal innovations [4] - The market is expected to see significant growth in high-value-added areas, with increasing demand for high-layer, high-density, and high-performance products [4] Company Background - Founded in 2004, the company specializes in the R&D, production, and sales of PCBs, focusing on mid-to-high-end prototypes and small batch production [6] - The company successfully listed on the Shenzhen Stock Exchange's Growth Enterprise Market on October 31, 2024 [6] - The company aims to meet the specialized needs of customers in various sectors including industrial control, communication equipment, automotive electronics, consumer electronics, medical health, and semiconductor testing [6]

12月5日，由南方财经全媒体集团主办，21世纪数字传媒承办的南方财经论坛"21世纪卓越董事会年 会"在广州南方财经大厦盛大召开。 大会以"新蓝图，新机遇"为主题，鹏鼎控股副总经理周红发表了主旨演讲——PCB：AI时代的新基石， 深入解读了印制电路板(PCB)行业当前备受瞩目的原因及未来趋势。 她指出，AI时代的算力爆发式增长，正强力驱动PCB产业进入一个需求远超以往任何时期的新阶段。 AI算力需求的爆炸性增长，正以前所未有的力量拉动PCB技术快速迭代与产业价值重估。 其一，AI服务器对PCB要求极高，层数从传统服务器的十数层跃升至70多层甚至100多层；HDI(高密度 互连)产品也需达到6阶以上。同时，材料、工艺、框架全面升级，且产品迭代周期大幅缩短。 其二，在消费电子领域，AI手机、AI眼镜、自动驾驶等端侧产品追求"轻薄短小"，推动PCB向更高精密 度和功能化发展。 其三，功能演变上，PCB正从单纯的连接和承载部件，向集成化方向发展，功能化趋势显著。 其四，行业受芯片带动明显，芯片与封装技术的进步，也要求PCB具备更高密度、更高速低损的材料特 性。 此外，周红透露，PCB行业已呈现明显的头部集中趋势，"大者 ...

来源：PCB网城综合整理 在汽车电子领域，超颖电子凭借强大的技术实力，成功跻身国内乃至全球领先行列，成为国内少数具备 多阶HDI及任意层互连HDI汽车电子板量产能力的公司之一。公司产品基本覆盖了整车各部位对PCB的 需求，与全球知名汽车零部件供应商大陆汽车、法雷奥、博世、安波福等建立了长期稳定合作关系。 在显示领域，公司产品主要应用于LCD、OLED和Mini LED等显示面板产品，与京东方、LG集团等全 球领先的显示面板制造商建立了长期稳定的合作关系，并获得全球显示面板行业龙头京东方颁发的"质 胜杯DAS BG质量工具创新应用大赛金奖"。 在储存领域，公司产品主要应用于机械硬盘、固态硬盘、内存条等，与全球机械硬盘制造商龙头希捷、 西部数据及全球知名固态硬盘制造商海力士等建立了稳定的合作关系。 超颖电子表示，本次增资有利于推动AI算力高阶PCB扩产项目的顺利开展，满足泰国超颖的生产经营需 要，增强其运营能力，符合公司的发展战略和长远规划。 据此前公告，为加速公司在路由器、AI服务器、交换机、AI加速卡等应用领域高端PCB产品布局，增强 公司的核心竞争力，提升公司可持续发展能力，在全球PCB市场竞争中抢占先机， ...

面对每晚海量的公告无从下手？《公告臻选》助你高效决策！专业筛选每晚最重要的关键公告，提供通 俗易懂的深度解读，揭示复杂术语背后的投资机会。助你10分钟掌握市场全貌，决胜开盘之前。 ①AI+PCB+算力+储存+汽车电子！公司斥资逾20亿元布局AI高阶算力PCB项目；②专精特新+航空 航天+3D打印+机器人！公司一半的营收已来自航空航天行业；③显示驱动芯片+CMOS图像传感器 +AI眼镜！公司收到国际知名品牌ODM订单。 前言 点击解锁付费内容，捕捉每天公告中的"黄金机会"！ ...

Core Viewpoint - The company has achieved small-scale production of 800G optical module PCBs and has the capability for 1.6T optical module PCB production [1] Group 1 - The company has commenced small-batch production of 800G optical module PCBs [1] - The company possesses manufacturing capabilities for 1.6T optical module PCB products [1] - Revenue from all communication-related products accounts for approximately 10% of total revenue [1]