每经AI快讯，有投资者在投资者互动平台提问：董秘您好！贵司从今年二季度开始供应Dojo项目的PCB 产品。据我所知有两个完全不同领域的Dojo项目。一个是特斯拉的超级计算机项目，另一个是区块链游 戏引擎项目。请问贵司生产的PCB产品是用于其中哪一个领域的？或者是这西个领域都有？贵司今年 Dojo项目的PCB产品的生产量销售量分别是多少？该类产品今年能够实现销售收入是多少？相应的利润 贡献是多少？ （文章来源：每日经济新闻） 世运电路（603920.SH）8月6日在投资者互动平台表示，公司与特斯拉合作的Dojo项目，PCB产品主要 用于其超级计算机领域。关于产销经营数据，请您关注公司后续发布的相关公告。 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [6]. Core Views - The company is positioned as a leading platform in high-end manufacturing, with significant revenue growth driven by its diversified business segments, including consumer electronics, new intelligent products, and new energy vehicles [1][2][3]. - The acquisition of Jabil has strengthened the company's position in the consumer electronics sector, enhancing its market share among overseas clients [2][49]. - The company is actively entering high-growth sectors such as AIDC and robotics, which are expected to contribute to its future growth [2][54]. - The acceleration of automotive intelligence and the push for equal access to smart driving technology are propelling the company's new energy vehicle business into a high-growth phase [3][26]. Summary by Sections 1. Platform Expansion and Revenue Growth - The company has achieved a revenue of 177.3 billion RMB in 2024, representing a year-on-year growth of 36.4%, with a net profit of 4.27 billion RMB, up 5.6% [1][17]. - The revenue contributions from the three main business segments are as follows: consumer electronics (79.7%), new intelligent products (8.8%), and new energy vehicles (11.6%) [1][28]. 2. Deepening Consumer Electronics Sector - The company has over 20 years of experience in the consumer electronics field and has become a core supplier globally, with expectations for continued growth due to recovering market demand [2][34]. - The acquisition of Jabil is expected to expand the company's overseas client base and solidify its leadership in the consumer electronics market [2][49]. 3. Entry into High-Growth Sectors - The company is actively participating in the rapidly growing AIDC and robotics sectors, with a focus on AI-driven data center solutions [2][54]. - The company has launched new products in AI servers and is investing in R&D to support its growth in these areas [54][57]. 4. Growth in New Energy Vehicles - The company’s new energy vehicle segment has seen significant growth, with revenue reaching 20.51 billion RMB in 2024, a year-on-year increase of 45.5% [3][28]. - The company benefits from its relationship with BYD, which enhances its product offerings in the smart driving and intelligent cockpit systems [3][26]. 5. Financial Forecast and Valuation - The company is projected to achieve revenues of 198.21 billion RMB in 2025, 218.93 billion RMB in 2026, and 242.96 billion RMB in 2027, with corresponding net profits of 5.27 billion RMB, 6.45 billion RMB, and 7.63 billion RMB respectively [3][5].

Core Viewpoint - The company has confirmed that its existing production lines and equipment can be adjusted and optimized to meet the initial commercialization needs of electronic skin without the need for large-scale investment in new equipment [1] Group 1 - The company possesses mature production experience and equipment in flexible electronics and precision manufacturing, which supports the rapid mass production of electronic skin products [1] - There is significant technological commonality between the core manufacturing processes of electronic skin products and some existing product lines, particularly in precision coating and flexible material processing [1] - As market demand grows, the company plans to dynamically respond by gradually increasing the utilization of existing equipment and optimizing production line configurations to ensure efficient and economical supply [1]

Core Viewpoint - Dongguan Securities research report indicates that the company has a significant technological positioning advantage, with AI computing power products entering a harvest period [1] Group 1: Financial Performance - The company is expected to achieve operating revenue exceeding 10 billion yuan, reaching 13.342 billion yuan in 2024, representing a year-on-year growth of 49.26% [1] - The net profit attributable to the parent company and the net profit after deducting non-recurring gains and losses are projected to be 2.587 billion yuan and 2.546 billion yuan, respectively, with year-on-year increases of 71.05% and 80.80% [1] - The company's performance in the first half of this year continues to show high growth [1] Group 2: Market Demand and Product Development - The strong demand for AI servers, switches, and other data center infrastructure is driving the increased demand for high multilayer boards and HDI products [1] - The company is experiencing rapid growth in its PCB products used for AI servers and high-speed switches, benefiting from its forward-looking layout in the AI field [1] - The company maintains close cooperation with major clients and has reserved next-generation GPU/XPU computing power platforms and several high-speed network switching products [1] Group 3: Capacity Expansion and Future Outlook - To meet customer demand for high-end PCB products, the company is advancing capacity expansion through technological upgrades and new projects [1] - The company is focusing on the electrification and intelligence direction in the automotive board sector, with the revenue share of emerging products continuously increasing [1] - With the improvement in the operational situation of a key client, the automotive board segment is expected to perform even better [1] - The estimated EPS for 2025 and 2026 are 1.96 yuan and 2.66 yuan, corresponding to PE ratios of 28 and 20 times, respectively [1]

Group 1 - BYD Electronics (00285) saw a significant stock price increase, rising over 9% during trading, with a previous close of 7.73% higher, and currently trading at 37.76 HKD with a transaction volume of 2.487 billion HKD [1] - Huachuang Securities anticipates that the usage of cold plates will further increase as NVIDIA's GB200 to GB300 chips enter mass production and delivery, with Microsoft and Google also announcing new data centers that will support liquid cooling [1] - Guosen Securities previously indicated that through close collaboration with NVIDIA, BYD Electronics has made significant advancements in liquid cooling technology, having mastered immersion liquid cooling technology and planning to launch corresponding server products [1] Group 2 - A recent report indicated that Apple is collaborating with a brain-computer interface company to develop a technology standard for "manipulating Apple devices using brain signals," with a demonstration video showcasing progress in this technology [1]

Group 1 - The core viewpoint of the news highlights the performance and market position of Fujian Furi Electronics Co., Ltd., which saw a stock price increase of 5.5% on August 6, reaching 13.61 yuan per share with a total market capitalization of 8.071 billion yuan [1] - The company is a leading player in the electronic information industry in Fujian Province, primarily engaged in the research, manufacturing, and sales of ODM/JDM/OEM for smart terminals, as well as LED packaging and applications [1] - In 2023, the company reported a revenue of 10.641 billion yuan and total assets of 7.794 billion yuan, with its subsidiary, Zhongnuo Communications, ranking 45th among the top 100 electronic information manufacturers in Guangdong Province in 2022 [1] Group 2 - As of March 31, the number of shareholders for Fujian Furi Electronics was 116,100, with an average of 5,107 circulating shares per person [2] - For the first quarter of 2025, the company achieved a revenue of 2.005 billion yuan, representing a year-on-year decrease of 14.21%, while the net profit attributable to shareholders was -40.2855 million yuan, showing a year-on-year increase of 56.88% [2]

每经AI快讯，8月6日，富士康概念股走强，科创新源、京泉华涨停，中石科技、鸿富瀚、福立旺、飞 荣达等跟涨。 （文章来源：每日经济新闻） ...

Key Points - The Hang Seng Index closed at 24,902, up 0.68% for the day and up 24.14% year-to-date [1] - The Hang Seng Technology Index closed at 5,521, up 0.73% for the day and up 23.57% year-to-date [1] - The A-share market saw the Shanghai Composite Index close at 3,617, up 0.96%, marking a new high for the year [6] - The S&P 500 Index closed at 6,299, down 0.49%, while the Nasdaq Index closed at 20,916, down 0.65% [7] - The Eurozone's July PMI for services rose to 52.6, indicating expansion in the services sector [11] Market Performance - The Hong Kong stock market showed a strong afternoon performance, with the Hang Seng Index rising over 190 points at one point [6] - Major stocks like BYD Electronics saw a significant increase of nearly 8%, while major banks also rose by 1% to 2% [6] - In the U.S., major indices opened high but closed lower due to concerns over economic data and trade tariffs [7] Currency and Commodity Trends - The Renminbi Index was at 96.940, up 1.67% month-on-month but down 3.73% over six months [2] - Brent crude oil was priced at $68.36 per barrel, up 1.77% month-on-month but down 4.58% over six months [2] - Gold prices increased by 0.87% month-on-month, reaching $3,365.59 per ounce, and rose 17.38% over six months [2] Company-Specific Developments - JD.com is preparing for a stablecoin license application amid market rumors [10][12] - Alibaba's Tmall International reported a 45% year-on-year increase in the number of overseas brands opening stores on its platform [14] - In July, China's wholesale sales of new energy passenger vehicles reached 1.18 million units, a 25% year-on-year increase [15] Economic Indicators - China's July services PMI improved to 52.6, indicating a slight expansion in service activities [11] - The U.S. trade deficit narrowed by 16% in June to $60.2 billion, the lowest in nearly two years [7] - The upcoming economic data releases include China's July CPI and PPI, as well as U.S. retail sales for July [28]

依鸿海7月营收表现，其中，"电脑终端产品类别"及"消费智能产品类别"与前一月相比呈强劲增长。法 人表示，鸿海"消费智能产品类别"营收来源主要是iPhone，由于7月较6月强劲增长，显示来自iPhone的 需求畅旺，随着苹果将在9月亮相新一代iPhone 17系列，可望带动鸿海进入第三季度传统出货旺季。 至于鸿海7月的"元件及其他产品类别"呈显著增长，"云端网络产品类别"则约略持平。鸿海表示，7月的 AI拉货动能持续，惟受汇率以及网通产品影响，因此，"云端网络产品类别"与6月相比，约略持平。 鸿海8月5日日公布7月合并营收6138.6亿元新台币，月增13.6%，年增7.25%，改写同期新高，主要受惠 人工智能（AI）相关产品动能持续，以及电脑终端产品与消费智能产品需求同步畅旺，预期第三季度 运营将优于第二季度。 展望本季，鸿海表示，云端网络产品将保持强劲增长趋势，且信息通信（ICT）产品进入下半年旺季， 运营将逐渐加温，第三季度呈现季增及年增表现，惟仍需密切关注全球政经局势及汇率变化之影响。 鸿海前七月合并营收4.53万亿元新台币，年增17.62%，亦为同期新高。 鸿海8月5日股价大涨4.5元新台币，收184. ...

Core Viewpoint - Hongxin Electronics' stock price has experienced a decline, and the company is actively investing in digital infrastructure projects while facing rising financial pressure due to high debt levels [1] Group 1: Stock Performance - As of August 5, 2025, Hongxin Electronics' stock price is 30.20 yuan, down 0.49 yuan or 1.60% from the previous trading day [1] - The stock opened at 30.25 yuan, reached a high of 30.68 yuan, and a low of 30.04 yuan, with a trading volume of 331,800 lots and a turnover of 1.005 billion yuan [1] Group 2: Business Operations - Hongxin Electronics primarily focuses on printed circuit boards (PCBs), with a significant emphasis on flexible printed circuit boards (FPCs) [1] - The company is expanding into the computing infrastructure sector through its subsidiary, Suihong Green, which has partnered with the Gansu Qingyang government to invest a total of 12.8 billion yuan in a smart digital infrastructure project [1] Group 3: Recent Announcements - On August 2, Hongxin Electronics announced that its controlling subsidiary, Suihong Green, signed an agreement with the Qingyang government to advance the Suihong Qingyang green intelligent digital infrastructure project [1] - The company also disclosed a capital increase of 190 million yuan for its wholly-owned subsidiary, Suihong Lingxi, to accelerate its AI computing power industry chain layout [1] Group 4: Financial Health - Hongxin Electronics' debt-to-asset ratio has risen to 78.7%, raising concerns about financial pressure [1] - On August 5, the company experienced a net outflow of 106 million yuan in principal funds, accounting for 0.75% of its market capitalization; over the past five days, the cumulative net outflow was 75.7134 million yuan, representing 0.53% [1]