General Principles - The purpose of the system is to regulate the information disclosure deferral and exemption behaviors of Shenzhen Jingwang Electronics Co., Ltd. and other obligated parties, ensuring compliance with legal obligations and protecting investors' rights [1][2] - The system is based on relevant laws and regulations, including the Securities Law of the People's Republic of China and the Management Measures for Information Disclosure of Listed Companies [1][2] Scope of Deferral and Exemption - The system applies to the company, its wholly-owned subsidiaries, and controlling subsidiaries [2] - Information can be deferred or exempted from disclosure if it is deemed a state secret or involves commercial secrets that could lead to unfair competition or harm to the company or others [3][4] Management of Deferral and Exemption - Conditions for deferral or exemption include that the information has not been leaked, insiders have signed confidentiality agreements, and there are no abnormal fluctuations in stock trading [5][6] - The company must promptly disclose deferred information once the reasons for deferral are resolved, providing justification for the classification as a commercial secret [6][7] Documentation and Record-Keeping - The company must maintain records of deferred or exempted information for at least ten years, including the method of exemption and internal review procedures [6][8] - Any changes in the status of deferred information, such as leaks or market rumors, must be verified and disclosed in a timely manner [7][8] Implementation and Amendments - The system is subject to interpretation and revision by the company's board of directors and takes effect upon approval [8]

深圳市景旺电子股份有限公司 董事会提名委员会实施细则 第一章 总则 第一条 为规范深圳市景旺电子股份有限公司（以下简称"公司"）决策管 理人员的产生，优化董事会组成，完善公司治理结构，根据《中华人民共和国公 司法》《上市公司治理准则》《上市公司独立董事管理办法》《上海证券交易所股 票上市规则》 《上海证券交易所上市公司自律监管指引第 1 号——规范运作》 《深 圳市景旺电子股份有限公司章程》（以下简称"《公司章程》"）及其他相关规 定，公司特设立董事会提名委员会（以下简称"委员会"），并制定本实施细则。 第二条 委员会是董事会下属的专门工作机构，主要负责拟定董事、高级管 理人员的选择标准和程序，对董事、高级管理人员人选及其任职资格进行遴选、 审核并提出建议。 第二章 人员组成 第三条 委员会成员由 3 名董事组成，其中独立董事过半数。 第四条 委员会委员由董事长、1/2 以上独立董事或者全体董事的 1/3 提名， 并由董事会选举产生。委员在任期内出现不适合任职的情形时，该委员应主动辞 职或由公司董事会予以撤换。 第五条 委员会设主任委员（召集人）1 名，由独立董事委员担任，负责主 持委员会工作并召集委员会会议 ...

Core Viewpoint - The Shenzhen Jingwang Electronics Co., Ltd. is revising its articles of association to comply with the new Company Law of the People's Republic of China, effective from July 1, 2024, aiming to enhance corporate governance and operational standards. Summary by Sections Article Revisions - The first article emphasizes the protection of the rights of the company, shareholders, employees, and creditors, aligning with the new legal framework [1][2]. - The registered capital of the company remains unchanged in the revised articles [3]. - The role of the chairman as the legal representative is clarified, with provisions for appointing a new representative within thirty days of resignation [1][2]. Shareholder Rights and Responsibilities - Shareholders are granted equal rights and obligations concerning their shares, and the articles establish a legal framework for shareholder actions against the company and its management [3][4]. - The articles specify that shareholders must adhere to laws and the company's articles, including obligations related to capital contributions and the prohibition of withdrawing capital except as legally permitted [16][17]. Capital Management - The company can increase its capital through various methods, including public offerings and private placements, subject to shareholder approval [6][7]. - The articles restrict the company from acquiring its own shares, with specific exceptions outlined, such as capital reduction and employee stock ownership plans [6][7]. Governance and Decision-Making - The articles detail the powers of the shareholders' meeting, including approving financial reports, profit distribution, and major corporate actions like mergers and capital changes [19][20]. - Provisions are included for independent directors to propose the convening of temporary shareholder meetings, ensuring accountability in governance [22][23]. Compliance and Legal Obligations - The revised articles impose strict obligations on controlling shareholders and actual controllers to act in the company's best interests and comply with disclosure requirements [16][18]. - There are clear stipulations regarding the responsibilities of directors and senior management in case of legal violations that result in company losses, allowing shareholders to seek legal recourse [15][24].

Board Restructuring Announcement - The company is conducting a board restructuring as the term of the fourth board is about to expire, ensuring smooth operations in accordance with relevant laws and regulations [1][2] - The company held a meeting on July 28, 2025, where it approved the nomination of candidates for the fifth board, including both non-independent and independent directors [1][2] Non-Independent Director Candidates - The nominated non-independent directors include Liu Shaobai, Zhuo Yong, Huang Xiaofen, Zhuo Jun, and Liu Yu, with their qualifications detailed in the announcement [1][3][4] - Liu Shaobai has served as the company's president and chairman from March 1993 to August 2022 and currently holds the position of chairman [3][4] - Zhuo Yong has been with the company since December 2000, currently serving as vice chairman after roles as financial director and vice president [3][4] Independent Director Candidates - The independent director candidates are Zhou Guoyun, Cao Chunfang, and Xin Guoshen, with their qualifications also outlined in the announcement [1][2][5] - Cao Chunfang is a professor at Sun Yat-sen University and has served as an independent director for various companies since August 2022 [4][5] - Zhou Guoyun is a researcher at the University of Electronic Science and Technology of China and has been an independent director since December 2021 [4][5] Board Composition and Election Process - The board will consist of nine directors, including one employee representative, with the employee representative to be elected democratically after the revised articles of association are approved by the shareholders' meeting [2][3] - The term for the directors is three years, starting from the date of election by the shareholders' meeting [2][3] Acknowledgment of Current Board - The company expresses gratitude to the current board members for their diligence and contributions during their term [3]

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research in the past 30 days include Ice Wheel Environment, China National Heavy Duty Truck Group, Boshi Jie, Yapu Co., and Huasheng Lithium Battery [13][14] - In the last five days, the most researched companies were Huasheng Lithium Battery, Weili Transmission, Hudian Co., Zhejiang Fu Holdings, and China National Heavy Duty Truck Group [13][15] - Among the top twenty companies researched in the past 30 days, seven had ten or more rating agencies, including Yanjing Beer, Hudian Co., Weichai Power, China National Heavy Duty Truck Group, BOE Technology Group, Hualing Steel, and Northern Rare Earth [13][14] - Yanjing Beer, Hudian Co., and BOE Technology Group are expected to see significant growth in net profit attributable to shareholders in 2024 compared to 2023 [13][14] Group 2: Shareholder Increase in A-Share Listed Companies - From July 21 to July 25, 2025, no companies reported significant shareholder increase announcements [16] - From January 1 to July 25, 2025, a total of 241 companies announced shareholder increases, with 63 having ten or more rating agencies [17] - Among these, 21 companies had an average proposed increase amount exceeding 1% of the latest market value, including Xianhe Co., Hubei Yihua, Xinji Energy, and Sailun Tire [17][18] Group 3: A-Share Buyback Situation - From July 21 to July 25, 2025, a total of 101 companies announced buyback progress, with 18 having ten or more rating agencies [21] - Four companies, including Jian Sheng Group, Mousse Co., Jinfa Technology, and Jinzai Food, had an average expected buyback amount exceeding 1% of the market value on the announcement date [21][22] - From January 1 to July 25, 2025, 1,605 companies announced buyback progress, with 348 having ten or more rating agencies [23] - Among these, 97 companies had a significant buyback ratio, with an average expected buyback amount exceeding 1% of the market value on the announcement date [23][24]

Group 1: Company Overview - The company focuses on communication equipment, data center infrastructure, and automotive electronics as core application areas [2][3] - It implements a differentiated product competition strategy, relying on technological, management, and service advantages [2] Group 2: Business Strategy - The company emphasizes long-term sustainable benefits over short-term gains, aiming for balanced customer relationships [3] - It adapts its technical and production capabilities to meet long-term market demands, enhancing its comprehensive competitiveness [3] Group 3: Revenue Structure - In 2024, the company expects approximately CNY 10.093 billion in revenue from AI-driven servers, data storage, and high-speed network infrastructure, with AI servers and HPC-related PCB products accounting for 29.48% and high-speed network switch products for 38.56% [4] - The automotive segment is projected to generate around CNY 2.408 billion, with emerging automotive products making up 37.68% [4] Group 4: Production and Supply Chain - The Thailand production facility has commenced small-scale production, focusing on improving efficiency and production yield [5] - The company is enhancing its risk management mechanisms to address operational risks associated with overseas factories [5] Group 5: Market Trends - The rapid development of AI is transforming the data center switch market, necessitating a robust architecture for AI backend networks [6] - Increased demand for AI-driven servers and high-speed network infrastructure presents growth opportunities, with a projected cash outflow of approximately CNY 658 million for fixed and intangible assets in Q1 2025 [7] Group 6: Future Outlook - The company plans to invest CNY 4.3 billion in a new AI chip-compatible high-end PCB expansion project, expected to enhance its high-end product capacity [7] - The evolving needs for complex and high-performance PCB products driven by AI and network infrastructure will challenge companies to innovate and improve their technical capabilities [8]

Core Insights - Dongshan Precision announced a significant investment of up to $1 billion through its wholly-owned subsidiary, Chaoyi Group (Hong Kong) Limited, to establish a high-end printed circuit board (PCB) project aimed at meeting the long-term demand for high-end PCB products in emerging fields such as high-speed computing servers and artificial intelligence [1][3] Investment Scale and Market Demand - The investment is categorized as large within the PCB industry and is relatively rare among specialized PCB manufacturers, focusing on high-density interconnect and high-speed signal transmission products [3] - The demand for high-end PCBs is significantly increasing due to the explosive growth in AI computing power and accelerated server performance iterations, necessitating complex circuit designs and efficient signal transmission capabilities [3][4] Capacity Expansion and Market Response - Dongshan Precision's Multek division, a leading manufacturer in the PCB field, is expanding capacity to address the surging market demand, as existing capacity is insufficient for future customer needs [4] - The performance requirements for PCBs in AI servers and edge computing devices are rising, with traditional server PCBs typically having 14-24 layers, while AI servers require 20-30 layers, leading to a PCB value that is 5-7 times higher than traditional servers [4] Technological Upgrades and Product Optimization - The new project will drive a comprehensive upgrade of Dongshan Precision's product structure, allowing the company to focus on high-end PCB products and advanced technologies such as high-density interconnect and rigid-flex combinations [5] - By concentrating on high-end PCBs, the company aims to escape the homogenization of ordinary PCB products and enhance gross margins through technological premiums, thereby solidifying its leading position in the PCB sector [5]

Core Viewpoint - The company has approved an investment plan for the construction of a high-end printed circuit board (PCB) project, with an estimated investment amount not exceeding $1 billion, to meet the growing demand in emerging markets such as high-performance servers and artificial intelligence [7][10]. Group 1: Investment Overview - The investment aims to enhance the company's core competitiveness and respond to the increasing market demand for high-density interconnect and high-speed signal transmission PCBs [7][10]. - The project will be funded through the company's own or self-raised funds, and it is necessary to submit the matter for shareholder meeting approval [8][10]. Group 2: Project Details - The project will be implemented by the company's wholly-owned subsidiary, Hong Kong Chao Yi Group, which specializes in advanced PCB manufacturing [9]. - The project is expected to address the limitations of existing production capacity and align with the company's strategic direction towards high-end manufacturing [10][12]. Group 3: Project Necessity and Feasibility - The project is essential due to the rapid growth of applications in high-performance servers and AI, which require advanced PCB products [10][11]. - The company possesses the technical expertise and customer demand to support the project's feasibility, ensuring potential market backing for the production capacity post-implementation [11]. Group 4: Impact on the Company - This investment aligns with national high-end manufacturing policies and aims to enhance the company's high-end PCB production capacity, thereby expanding its operational scale and improving overall economic efficiency [12].

Core Viewpoint - The PCB industry is experiencing significant growth driven by strong downstream demand, with many companies in the sector reporting positive performance forecasts for the first half of 2025 [1][3]. Industry Overview - PCB is essential for electronic components, serving as a bridge for connecting circuits, widely used in various sectors including communication, computing, automotive electronics, AI, medical, and aerospace [2]. - According to Prismark data, the global PCB market is projected to reach $73.565 billion in 2024, with a year-on-year growth of 5.8%, and is expected to grow to $94.661 billion by 2029, reflecting a compound annual growth rate of 5.2% from 2024 to 2029 [2]. Company Performance - Weirgao expects its revenue for the first half of the year to be between 700 million to 720 million yuan, representing a year-on-year increase of 55.41% to 59.85%, with net profit projected between 43 million to 50 million yuan, up 12.55% to 30.87% [3]. - Mankun Technology anticipates a net profit of 60 million to 70 million yuan for the same period, marking a growth of 53.98% to 79.64%, driven by capacity ramp-up and optimization of product and customer structure [3]. Capacity Expansion - PCB companies are actively expanding production capacity to meet rising market demand, with Weirgao's new factory in Thailand and plans for a second phase in Jiangxi to enhance overall capacity [4]. - Weirgao's Thailand factory focuses on AI power and automotive electronic products, achieving breakthroughs in DC-DC product technology and facilitating mass production [4]. Competitive Advantage - The PCB industry has high entry barriers and stringent quality requirements from downstream customers, leading to long-term partnerships based on technology, product quality, and cost considerations [5]. - Companies are focusing on enhancing product value and creating differentiated competitive advantages, with Mankun Technology increasing its production capacity for automotive electronics and investing in R&D for core systems in new energy vehicles [6].

Group 1 - Liu Pharmaceutical Group plans to repurchase shares worth between 100 million and 200 million yuan, with a maximum repurchase price of 25.70 yuan per share [1] - Dongshan Precision intends to invest up to 1 billion USD to build a high-end printed circuit board project to meet the long-term demand for high-end printed circuit boards in emerging scenarios such as AI [1] - Bomaike reported a net profit of 12.39 million yuan for the first half of the year, a year-on-year decline of 80.42% [2] Group 2 - Western Mining achieved a net profit of 1.869 billion yuan in the first half of the year, a year-on-year increase of 15% [2] - Fuliwang expects a net loss of approximately 17 million yuan for the first half of the year, a decrease of 137.12% compared to the same period last year [2] - Digital Certification anticipates a net loss of between 80 million and 96 million yuan for the first half of the year, compared to a loss of 29.25 million yuan in the same period last year [3] Group 3 - Shanghai Construction reported a net profit of 710 million yuan for the first half of the year, a year-on-year decrease of 14.04% [5] - Funneng Co. achieved a net profit of 1.337 billion yuan in the first half of the year, a year-on-year increase of 12.48% [6] - Tengda Construction's total contract amount for the first half of the year decreased by 17.55% year-on-year [7] Group 4 - Fudan Fuhua decided to terminate the public transfer of a 28% stake in a subsidiary due to the lack of a deposit from potential buyers [9] - Fulei Ant's subsidiary has decided to cease operations due to intense competition in the photovoltaic industry and ongoing losses [11] - Dongfang Ocean's subsidiary received a medical device registration certificate for a folic acid testing kit [14] Group 5 - Huayu Pharmaceutical's subsidiary received overseas listing approvals for several products [16] - Feima International received a performance commitment compensation of 437 million yuan from its controlling shareholder [16] - Guangshen Railway signed a cooperation agreement for the Guangzhou East Station renovation project with a total investment of approximately 16.66 billion yuan [16] Group 6 - Anhui Construction won the bid for the S68 Jingde to Jixi Expressway project with an estimated total investment of 5.7 billion yuan [18] - China Communications Construction Company signed new contracts worth 991.054 billion yuan in the first half of the year, a year-on-year increase of 3.14% [19] - Kehui Co. plans to use up to 70 million yuan of idle funds for cash management [22] Group 7 - Biological Shares' subsidiary received a clinical trial approval for a cat mRNA vaccine, the first of its kind in China [23] - Ruipu Biological received a clinical trial approval for a pig mRNA vaccine, which is the first economic animal mRNA vaccine in China [24] - Nanjing New Hundred's major assets were judicially frozen due to liquidity debt crisis faced by its controlling shareholder [27] Group 8 - Changshu Bank plans to merge three village banks and establish branches, pending shareholder approval [28] - Yong'an Pharmaceutical plans to reduce its holdings by up to 2.6323 million shares [29] - Zhujiang Co. received approval from the Shanghai Stock Exchange for a stock issuance to specific targets [31] Group 9 - Sanyangma's subsidiary signed a 120 million yuan procurement contract for sensor products [33] - Jintou City Development plans to purchase a villa property for approximately 7.1854 million yuan [35] - Yuanli Co. intends to acquire 100% of Tongsheng Co. through a combination of cash and stock issuance [36] Group 10 - Xin'an Century's controlling shareholder plans to reduce holdings by up to 2.22% of the company's shares [36] - Fute Technology plans to raise up to 528 million yuan through a private placement for various projects [36] - Helen Piano's actual controller is set to change, with stock resuming trading [37] Group 11 - Weiergao expects a net profit increase of 12.55% to 30.87% for the first half of the year [38] - Saiwei Microelectronics plans to transfer up to 18% of its shares through an agreement [40] - Yongli Co. intends to acquire a 22.75% stake in a subsidiary [42] Group 12 - ST Xiachuang plans to publicly transfer a 20% stake in Guangdong Yuweiji [43] - Dema Technology's shareholders plan to transfer 778.84 million shares through an inquiry [45] - Zhongshi Technology's shareholders plan to reduce holdings by up to 2.86% of the company's shares [46] Group 13 - Wufang Optoelectronics' controlling shareholder plans to reduce holdings by up to 0.93% of the company's shares [48] - Fusenmei's chairman has been detained, temporarily unable to fulfill his duties [49] - Reliable Co.'s shareholders plan to reduce holdings by a total of up to 2.63% of the company's shares [51] Group 14 - Gao Neng Environment plans to repurchase shares worth between 100 million and 150 million yuan [53]