2026年慕尼黑上海光博会 观众组团福利再度升级！ 诚邀您加入展会观众组团计划 尊享 超多 多 多 福利 ！ 2026年3月18-20日 上海新国际博览中心 团长、团员 有何要求？ 为了能够精准地匹配您及参展企业，我们希望团长/团员来自以下领域及职能部门： 我们期待您浩浩荡荡携伴而来！ 来自 电气工程 / 电子工业、通讯、化工 / 制药行业、医疗技术 / 生物技术、汽车、农业、半导体、能源、精 密机械、航天 / 航空、材料处理 / 加工、运输、工具制造 / 工程机械、工业机器人 / 具身智能、照明 / 显示、 环境、安全技术、国防工业、商贸、纺织工业、食品工业、高校、非大学研究机构、政府 / 公共事业 / 服务 等 成员代表。 如果您是符合上述要求的小伙伴，就别犹豫了，快快快来报名吧！ 如何参与观众组团？ Step 1 扫码报名参观 Step 2 进入注册首页后 进行个人手机号验证 Step 3 选择团体观众注册 Step 4 实名制填写个人信息 及简单填写问卷后选择下一步 提交您邀请的团队成员 A 添加团员 直接输入您的团队成员信息 Step 5 完成注册弹出组团登记参观页面 Step 6 您可选择三种方式 ...

如果大家有关注到，前段时间特朗普政府也晒起了自己上任以来，关于吸引投资的成绩单。 但是，这些都是空头支票，不一定真正兑现的，都是说未来几年，我会投资多少钱，但会不会真的投 资，还真不一定，大家都是在拖时间，像阿联酋承诺的1.4万亿美元，可是10年期的。 按照媒体的数据，这所谓的9万亿美元的投资承诺中，到目前真正兑现的，其实还不到1万亿美元左右， 也就是只有11%的可能真正落实了，并且就算所谓的落实的项目，很多都存在工期延误、成本超支等问 题，后续会不会顺利，都难讲。 其它的，则什么时候落实还不清楚，也许等特朗普下台了，都未必能落实。 按照特朗普政府的数据，到2025年11月份，美国已经获得了超过9万亿美元的投资承诺。 比如沙特1万亿美元、阿联酋1.4万亿美元，日本、韩国、中国台湾等等，均要在美国投资，这些投资更 多的聚焦于半导体、AI、汽车、造船、电子工业等等领域。 为此，特朗普政府称，现在的制造业正式开始回流美国了，有信心将美国打造成制造强国，重振"空心 化"的实体经济。 那么问题就来了，美国政府真的获得了9万亿美元的投资么？ 从承诺数据来看，或许并没有错，比如台积电说要投资1650亿美元，沙特也确实说要投 ...

Core Insights - Bosnia and Herzegovina's total foreign trade increased by 5.6% in the first nine months of the year, reaching 35.6 billion marks [1] - Exports amounted to 12.94 billion marks (up 5.6%), while imports were 22.6 billion marks (up 4.11%), resulting in a trade deficit of 9.65 billion marks [1] - The metal industry accounted for 44% of exports, followed by the wood industry at 21%, with energy, electronics, and automotive sectors being key growth drivers [1] - Electricity imports surged by 184% year-on-year, totaling 313 million marks, highlighting structural weaknesses in the energy sector [1] - Despite over two-thirds of exports going to the EU, reliance on low-value-added products and the EU market poses significant structural challenges, necessitating the exploration of new markets such as the US and the Middle East, along with accelerating digital transformation in industries [1]

Core Viewpoint - The recent agreement between China and the U.S. to continue rare earth exports is a temporary resolution in a larger strategic competition, highlighting the critical role of rare earth elements in modern technology and global supply chains [1][10][15]. Group 1: Historical Context of Rare Earth Elements - Rare earth elements, including neodymium, praseodymium, europium, and terbium, are essential for modern electronics, magnetic materials, and fluorescent materials [3][5]. - In the late 1970s and 1980s, Japan and the U.S. dominated the global electronics market, while China, despite having the richest rare earth reserves, was relegated to selling raw materials and lacked brand power in consumer electronics [5][6]. - By the 2000s, China controlled 80% to 90% of global rare earth exports, but the profits were minimal, leading to environmental degradation and resource depletion [6][7]. Group 2: Supply Chain Disruptions - The 2010 supply disruption, where China halted rare earth exports to Japan, caused significant price increases and production halts in various industries, revealing the vulnerabilities in the global supply chain [9][10]. - This disruption prompted Japan to seek alternative sources, but the lack of processing technology and capacity in other countries limited their options [9][12]. Group 3: Current Market Dynamics - In 2025, a new round of export controls by China has led to significant global supply chain shocks, with the U.S. stock market reacting strongly to the news [10][12]. - The strategic value of rare earths has increased due to the rise of new industries such as AI, 5G, and renewable energy, making them a critical component in high-tech manufacturing [10][13]. - Efforts by the U.S. and Europe to establish independent supply chains for rare earths have faced challenges, as domestic production cannot meet the current demand for advanced technologies [13][14]. Group 4: Future Implications - The recent agreement between China and the U.S. may provide temporary relief, but the underlying competition for technological supremacy remains unchanged, indicating that future disruptions are likely [15][17]. - Consumer choices in electronics can influence the global rare earth market, as purchasing products with stable supply chains indirectly supports China's dominance in the rare earth industry [17][18].

Summary of the Conference Call on Shengyi Technology Industry Overview - The copper-clad laminate (CCL) industry in mainland China has become a global manufacturing center, with a market size reaching 69.4 billion yuan in 2022 and expected to grow to 71.2 billion yuan in 2023, indicating stable growth in the market [2][4] - The cost structure of CCL includes 42% from copper foil, 26% from resin, and 19% from fiberglass cloth, making raw material price fluctuations significantly impactful on costs [6] Key Insights and Arguments - CCL manufacturers have strong bargaining power against downstream PCB manufacturers, allowing them to transfer cost pressures effectively [7] - The improvement in raw material prices and demand is expected to drive CCL prices upward, with recent data from Taiwanese companies showing stable revenue growth [8] - The development of 5G communication and smart vehicles is increasing the demand for high-frequency and high-speed CCL materials, particularly for applications like millimeter-wave radar and laser radar [9][10] - The AI industry's growth is driving an increase in server market demand for computing power, which in turn boosts the demand for PCBs and CCLs, with high-end servers requiring strict specifications [11] Shengyi Technology's Position - Shengyi Technology is one of the leading manufacturers of rigid CCL globally, holding approximately 12% market share with a total production capacity of about 100 million square meters [2][13] - The company has maintained R&D investment at around 5% of sales, which helps to close the gap with global leaders and develop products with varying coefficient parameters [3][18] - Shengyi's product applications span across multiple sectors, including 5G antennas, high-end servers, and automotive electronics, positioning the company well to benefit from the rising demand in these areas [13][19] Future Trends and Developments - The PCB industry is expected to see an increase in layer counts and transmission speeds, driven by advancements in CPU and GPU technologies [12] - Shengyi Technology is focusing on developing high-specification products to meet the growing demands of the AI industry, anticipating a supply-demand imbalance in the CCL market [20] Additional Important Points - The company has a diversified shareholding structure, with no single shareholder holding more than 30% of the shares, ensuring a balanced governance model [14] - Shengyi experienced a two-year period of stagnation post-2021 due to oversupply but is now entering a favorable turning point driven by the AI industry [15][16] - The high-frequency and high-speed CCL market is dominated by companies like Rogers and Panasonic, but Shengyi is competitive in terms of technical specifications [17]

Core Viewpoint - The company reported a revenue of HKD 405 million for the six months ending June 30, 2025, reflecting a year-on-year increase of 3.97% despite a net loss attributable to shareholders of HKD 14.757 million, which decreased by 42.92% compared to the previous year [1] Revenue Performance - The revenue growth was primarily driven by an increase in the shipment volume of smart vending systems [1] - The demand for smart chargers, switch power supplies, and electromechanical products in the company's core Western markets weakened, partially offsetting the revenue growth [1] Earnings and Dividends - The basic loss per share was reported at HKD 0.0148 [1] - The company proposed an interim dividend of HKD 0.006 per ordinary share [1]

Core Viewpoint - The Ministry of Industry and Information Technology announced the addition of four phthalate substances to the mandatory national standard for electronic and electrical products, which may pose health risks and environmental pollution if used beyond specified limits [1] Group 1: Regulatory Changes - The new mandatory national standard titled "Requirements for the Restriction of Harmful Substances in Electrical and Electronic Products" now includes four types of phthalate substances [1] - These substances, if used above the limit, can harm human health and may cause secondary pollution during product disposal [1] Group 2: Global Trends - Economies such as Europe, the United States, Japan, and South Korea have progressively included these four phthalate substances in their regulatory requirements [1]