世运电路10月9日在互动平台表示，公司在机器人业务方面积极与国内人形机器人头部客户展开合作， 目前已通过客户认证获得新一代人形机器人项目定点。出于商业保密协议的限制，暂时无法披露合作公 司名称。 ...

消息面上，受宏观与矿扰共振，近期铜价高位震荡。今年8月，建滔积层板发布涨价函：宣布由于铜、 玻璃布以及化工原材料等价格均大幅上涨，考虑成本压力，从即日起，对 CEM-1/22F/V0/HB价格+10 元/张，FR-4价格+10元/张，大约对应约8%左右涨幅。中信证券指出，原材料价格、稼动率水平保持高 位，覆铜板厂商加强推动涨价。随着25Q2头部覆铜板厂商净利率水平提升至约10%，该行认为行业的 提价底层逻辑正逐步转为行业景气上行带来的盈利潜力释放。 智通财经APP获悉，建滔积层板(01888)涨超6%，截至发稿，涨6.41%，报12.79港元，成交额2.37亿港 元。 国泰海通证券指出，传统覆铜板价格上行期，传统供给扩张有限利于格局。历史上铜价和玻璃纤维布向 上的周期中，传统覆铜板的价格周期也较为乐观。25H2行业进行新一轮提价尝试。从供需格局来看， 覆铜板行业整体需求伴随AI需求改善有较好的增长预期，主要企业的扩产计划也主要聚焦在高端板 中，甚至行业部分中端产能将进行高端化的转产。因此传统中端覆铜板的供需格局也较良好。行业从 2023年盈利底部以来，中端产能扩产相对有限，而全球需求端则可以做温和上行的假设， ...

证券代码：002916 证券简称：深南电路 深南电路股份有限公司投资者关系活动记录表 编号：2025-32 投资者关系 活动类别 √特定对象调研 □分析师会议 □现场参观 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □其他 （ ） 活动参与人 员（排名不 分先后） 华泰证券 上市公司 接待人员 证券事务主管：阳佩琴 时间 2025 年 9 月 26 日 地点 公司会议室 形式 实地调研 投资者关系 活动主要内 容介绍 交流主要内容： Q1、请介绍公司 2025 年半年度经营业绩情况。 2025 年上半年，在人工智能技术革新的驱动下，电子电路行业持续显现出结构性增长机 会。报告期内，公司实现营业总收入 104.53 亿元，同比增长 25.63%，归母净利润 13.60 亿 元，同比增长 37.75%。上述变动主要得益于公司把握 AI 算力升级、存储市场回暖和汽车电 动智能化增长机遇，实现了三项主营业务收入的同比增长。与此同时，得益于 AI 加速卡、 服务器及相关配套产品等需求持续提升，400G 及以上的高速交换机、光模块需求显著增长， 产品结构持续优化，助益利润同比提升。 Q2、请介绍 2025 年上半 ...

人民财讯9月26日电，本川智能（300964）9月26日在互动平台表示，随着新能源汽车领域的技术迭代， 该领域对PCB产品的要求正朝着高性能、高可靠性及系统集成化的方向快速演进，对PCB的绝缘性能、 耐压等级和载流能力提出了更高要求。公司基于长期以来的技术积累，在新产品研发方面，正在积极布 局分层刚挠结合板、高精密预埋元件电路板、埋铜板等新兴产品。 ...

近日，江苏本川智能电路科技股份有限公司针对深圳证券交易所出具的《关于江苏本川智能电路科技股 份有限公司申请向不特定对象发行可转换公司债券的审核问询函》，发布了详细的回复报告，就公司经 营情况、募投项目等诸多关键问题进行了深入阐述。 报告期内，本川智能营业收入分别为55926.34万元、51094.26万元、59610.27万元和17048.74万元，扣除 非经常性损益后的净利润分别为3405.22万元、-673.93万元、1697.04万元及903.85万元。公司业绩波动 明显，2023年受宏观经济下行、下游市场需求降低等因素影响，营业收入和净利润均有所下降；2024年 随着宏观经济复苏，下游电子产品市场回暖，公司营业收入和净利润显著增长。 从业务构成来看，公司主营业务为多品种、小批量、定制化印刷电路板的销售，报告期内占营业收入总 额比例超90%。外销是重要收入来源，占主营业务收入比例分别为57.37%、52.13%、48.39%和 50.78%，产品主要出口至美国、欧洲。公司前五大客户和前五大供应商存在贸易型公司，向前五大原 材料供应商采购占比超50%，部分期间向单个供应商采购占比超30%。同时，公司产能利 ...

2024年，江苏本川智能电路科技股份有限公司与专业投资机构等签署合伙协议，共同设立深圳保腾福顺 创业投资基金合伙企业，全体合伙人认缴出资1.5亿元，本川智能作为有限合伙人出资3000万元，占比 20%。截至2025年9月23日公告披露日，保腾福顺完成第二期出资，募集4500万元。其中，本川智能第 二期实缴900万元。公司表示将了解基金运作，督促防范风险，维护资金安全，并按规定及时披露后续 进展，提醒投资者注意风险。 ...

Group 1 - The company has commenced mass production supply of its AI glasses products for a major overseas client [1][2] - In the AI server sector, the company has achieved mass production of 28-layer AI server circuit boards, 24-layer ultra-low loss servers, and 5G communication PCBs [2] - The company has entered the high-speed connector and power module fields through ODM manufacturers and has completed certification for all AMD products [2] Group 2 - The company is providing products to major computing power center clients in Europe [2] - In the first half of 2025, the company secured a new product project with humanoid robot client F, entering the mass production preparation phase [2] - The company is actively advancing collaborations with leading domestic humanoid robot clients to obtain new generation humanoid robot project designations through client certifications [2]

Financial Performance - In the first half of 2025, the company achieved operating revenue of 2.05 billion yuan, a year-on-year increase of 3.97% [2][3] - The net profit attributable to shareholders was 70.48 million yuan, up 0.76% compared to the same period last year [2][3] - The net profit after deducting non-recurring gains and losses reached 73.00 million yuan, showing a significant increase of 5728.58% year-on-year [2][3] Operational Highlights - The company produced 27.97 million pieces of various copper-clad laminates, an increase of 8.07% year-on-year, and sold 27.41 million pieces, up 5.35% year-on-year [4] - The revenue from the copper-clad laminate segment was 1.87 billion yuan, reflecting a 6.81% increase compared to the previous year [4] - The company focused on optimizing product structure, enhancing product research and development, and improving production efficiency through automation [4] Market Conditions - The improvement in performance was attributed to a better market condition for copper-clad laminates, with increased production and slight recovery in sales prices [2][4] - In the healthcare segment, the revenue from subsidiaries was 75.71 million yuan, a decrease of 13.91% year-on-year, due to a decline in the traditional Chinese medicine market and intense industry competition [4] - The company is responding to market challenges by enhancing management, increasing market development efforts, and diversifying product offerings [4]

Summary of Conference Call Notes Company and Industry Overview - The company operates in the Low DK glass fiber sector and has achieved breakthroughs in production and certification, with mass production expected by the end of September 2025, starting with an initial capacity of 500 tons per year at a price of 200,000 RMB per ton, significantly higher than ordinary glass fiber yarn [2][3][4]. Key Points and Arguments - **Production Capacity Expansion**: The company plans to add three oil furnaces by 2026, totaling 1,500 tons of capacity, including both first and second-generation Low DK glass fiber, with the second-generation product expected to reach 600,000 RMB per ton [2][3][5]. - **High Demand for HDI PCB**: Orders for high-end HDI PCBs are booked until June 2026, with automotive orders accounting for 58% and home appliances for 15-16% of total orders in the first half of 2025, indicating strong market demand [2][5][9]. - **Global PCB Market Growth**: The global PCB market value reached over 70 billion USD in 2025, growing by over 10% year-on-year, and is projected to exceed 90 billion USD by 2029, driven by advancements in 5G/5.5G/6G technologies and AI-related demand [2][5][9]. - **Monthly Shipment Goals**: The company aims to maintain monthly shipments of 9.5 to 10 million copper-clad laminates in the second half of the year, despite a total capacity of 11 million, due to an increase in the proportion of high-end special products [2][6][9]. - **Price Adjustments**: The company has implemented two price adjustments in March and August, approximately 10% and 10 USD per unit respectively, which are expected to improve gross margins in the second half of the year, targeting a gross margin exceeding 20% [4][7][8]. Additional Important Information - **Production Bottlenecks**: The current global production capacity for Low DK glass fiber is only 8,800 tons, primarily concentrated among a few companies in Japan and China, which limits the production of high-end products like HDI PCBs [3][5]. - **Future Product Development**: The company is developing M6 and M7 panels, with plans to launch M8 and M9 in 2026, but significant profits from these products are not expected until 2027 or 2028 due to the need for extensive testing and customer certification [6][9]. - **Customer Feedback**: Positive feedback has been received from customers regarding the Low DK glass fiber, with some key clients insisting on its use for their products [10][11]. - **CPE Fabric Production**: The company plans to produce 2.5 million meters of CPE fabric monthly, with an annual capacity of 30 million meters based on current production capabilities [12]. - **Resin Business Development**: The company is focusing on high-end markets for resin products, particularly in bulletproof glass applications, and is developing hybrid display technology with promising prospects [21][22]. This summary encapsulates the key insights from the conference call, highlighting the company's strategic initiatives, market dynamics, and future growth potential in the Low DK glass fiber and PCB sectors.

Core Viewpoint - The company demonstrated strong operational resilience and strategic execution by achieving double growth in revenue and net profit despite a complex macroeconomic environment [1] Financial Performance - For the first half of 2025, the company reported revenue of 541 million yuan, a year-on-year increase of 16.40% - The net profit attributable to shareholders was 64.77 million yuan, reflecting a year-on-year growth of 7.56% - The company maintained a stable gross margin despite challenges such as rising precious metal prices and capacity constraints, thanks to product structure optimization and overseas market expansion [2] Product and Market Optimization - Revenue from double-sided and multi-layer boards saw significant growth, with year-on-year increases of 28.37% and 25.36% respectively - The company successfully expanded its overseas business, achieving a remarkable 100% year-on-year growth in foreign income, aided by the establishment of a subsidiary in Thailand [3] Research and Development - The company invested 20.93 million yuan in R&D during the reporting period, marking a 9.92% increase - Ongoing projects focus on advanced fields such as optical module products and thick copper plate technology, enhancing the company's core competitiveness [4] Financial Management - The company effectively utilized idle fundraising, with a cash management balance of 175 million yuan - The net cash flow from operating activities was 78.51 million yuan, indicating a healthy financial status to support daily operations and investment needs [5] Future Outlook - The company plans to continue focusing on traditional sectors like consumer electronics and automotive electronics while exploring emerging markets such as smart home technology and artificial intelligence - The construction of new facilities is expected to enhance production capacity and support long-term growth, positioning the company for broader development opportunities in the second half of 2025 and beyond [6]