（编辑 任世碧） 证券日报网讯 12月17日晚间，明阳电路发布公告称，公司于2025年12月17日召开第四届董事会第十一 次会议，审议通过《关于部分募集资金投资项目结项并将节余募集资金永久补充流动资金的议案》。公 司首次公开发行股票募集资金投资项目（简称"募投项目"）"九江印制电路板生产基地扩产建设项目"、 2020年向不特定对象发行可转换公司债券募投项目"九江明阳电路科技有限公司年产36万平方米高频高 速印制电路板项目"均已建设完毕，达到了预定可使用状态。为提高募集资金使用效率，结合公司实际 经营情况，同意将上述募投项目结项并将节余募集资金（含利息收入及理财收益）永久性补充流动资 金。 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [2] Core Insights - The company plans to invest a total of 42.97 billion RMB in its Thailand park to build production facilities and supporting infrastructure, which will enhance its AI product line capacity [5][6] - The company intends to acquire a 53.68% stake in Huayang Technology for 360 million RMB, strengthening its position in the automotive electronics sector [6] - Revenue projections for 2025, 2026, and 2027 are estimated at 384.5 billion, 452.0 billion, and 540.2 billion RMB respectively, with net profits of 38.2 billion, 52.5 billion, and 67.7 billion RMB [7] Financial Summary - The latest closing price of the stock is 48.64 RMB, with a total market capitalization of 1,128 billion RMB [4] - The company has a debt-to-asset ratio of 27.4% and a price-to-earnings ratio of 31.18 [4] - Projected revenue growth rates are 9.59% for 2024, 9.42% for 2025, 17.56% for 2026, and 19.52% for 2027 [9][10] - The expected earnings per share (EPS) for 2025, 2026, and 2027 are 1.65 RMB, 2.26 RMB, and 2.92 RMB respectively [9][10]

格隆汇12月17日丨金禄电子(301282.SZ)在投资者互动平台表示，公司有和长安汽车下属零部件公司建 立直接合作关系，PCB产品有最终应用于长安旗下多款车型。 ...

Core Viewpoint - Jinlu Electronics (301282.SZ) has not established a direct cooperation relationship with BAIC Blue Valley, but its PCB products are ultimately applied in the new energy vehicles under BAIC [1] Company Summary - Jinlu Electronics has indicated that there is no direct partnership with BAIC Blue Valley [1] - The company's PCB products are utilized in the new energy vehicle segment of BAIC [1]

Group 1 - The company has established a direct cooperation relationship with a subsidiary of Changan Automobile, and its PCB products are applied in multiple models under Changan [2] - The company has not yet established a direct cooperation relationship with BAIC Blue Valley, but its PCB products are ultimately applied in BAIC's new energy vehicles [2]

Group 1 - The company, Jinlu Electronics, stated on December 17 that its PCBs are used in new energy vehicle charging equipment [1] - In the new energy vehicle PCB market, the company has accumulated a wide range of quality customer resources across the industry chain, including vehicle manufacturers, Tier 1 suppliers, and EMS factories [1]

（记者 王晓波） 截至发稿，鹏鼎控股市值为1110亿元。 每经头条（nbdtoutiao）——中标企业频频弃标 大型医疗设备采购有何难言之隐？ 每经AI快讯，鹏鼎控股（SZ 002938，收盘价：47.89元）12月15日晚间发布公告称，公司第三届第二十 二次董事会会议于2025年12月15日以通讯方式召开。会议审议了《关于公司2026年泰国园区投资计划的 议案》等文件。 2025年1至6月份，鹏鼎控股的营业收入构成为：印制电路板占比99.22%，其他业务占比0.78%。 ...

[Table_Info1] 证券研究报告 [Table_Title] 证券研究报告/债券研究报告 澳弘转债定价：首日转股溢价率 45%~50% ---东北固收转债分析 报告摘要： [Table_Summary] 12 月 9 日，澳弘电子公告拟于 2025 年 12 月 11 日通过网上发行可转债， 公司本次计划发行可转换公司债券募集资金总额不超过 5.80 亿元。本次 发行募集资金扣除发行费用后，5.80 亿元拟全部用于泰国生产基地建设 项目，项目总投资 5.96 亿元。 澳弘转债发行方式为优先配售，网上发行，债项和主体评级 AA-。发行 规模为 5.80 亿元，初始转股价格为 34.04 元，参考 12 月 12 日正股收盘 价格 29.79 元，转债平价 87.51 元，参考同期限同评级中债企业债到期收 益率（12 月 12 日）为 3.75%，到期赎回价 112 元，计算纯债价值为 92.83 元。博弈条款方面，下修条款（15/30，85%）正常、赎回条款（15/30， 130%）正常、回售条款（30/30，70%）正常。综合来看，债券发行规模 一般，流动性一般，评级尚可，债底保护性较好。机构入库不难 ...

Group 1 - The core point of the announcement is the results of the online lottery for the issuance of convertible bonds by Changzhou Aohong Electronics Co., Ltd. [1] - The company issued a total of 58,301 winning numbers for the convertible bonds, with each winning number allowing the subscription of 1 lot (1,000 yuan) of Aohong convertible bonds [2] - The lottery was conducted under the principles of openness, fairness, and justice, supervised by relevant representatives and notarized by the Shanghai Oriental Notary Office [1][2]

每经头条（nbdtoutiao）——实施城乡居民增收计划、降准降息等工具灵活高效运用、增加普通高中学 位……深度解读中央经济工作会议 （记者 曾健辉） 2025年1至6月份，本川智能的营业收入构成为：PCB占比92.3%，其他业务占比7.7%。 截至发稿，本川智能市值为43亿元。 每经AI快讯，本川智能（SZ 300964，收盘价：55.58元）12月12日晚间发布公告称，公司第三届第三十 二次董事会会议于2025年12月12日在公司会议室召开。会议审议了《关于董事会换届选举暨提名第四届 董事会独立董事候选人的议案》等文件。 ...