10/02/2026 2025 consolidated revenue amounts to €445.5 million,down 6.5% on a like-for-like basis Back to growth in Q4 (+0.9%)North America Operational exit completedConfirmation of 2025 and 2027 financial targets In the fourth quarter of the fiscal year, LACROIX recorded consolidated revenue of €110.5 million, compared to €109.5 million a year earlier. This change marks a return to growth (+0.9%), reflecting renewed acceleration in the Environment activity (+20.3%), still supported by strong structural and ...

格隆汇2月9日丨强瑞技术(301128.SZ)在互动平台表示，我公司子公司铝宝科技的精密散热结构件产品 已大量应用于相关客户的服务器、芯片模组中。 ...

2月6日，港股市场迎来三家企业同日挂牌的盛况，大族数控（301200.SZ）（03200.HK）、卓正医疗 （02677.HK）与牧原股份（002714.SZ）（02714.HK）集体登陆港交所。 大族数控获得资本市场的青睐，截至发稿，其港股股价报109.1港元/股，较发行价95.8港元上涨 13.99%，总市值接近520亿港元。然而，其A股股价同期却出现下跌，跌幅达5.5%，呈现"港涨A跌"的分 化走势。 本次发行中，大族数控共发售约5045.18万股股份。其香港公开发售部分获得了446.39倍的认购，国际发 售部分也获21.07倍认购。此次发售共计募集资金净额约46.31亿港元。 尤为引人注目的是其豪华的基石投资者阵容，包括胜宏科技（300476.SZ）旗下宏兴国际、新加坡政府 投资公司（GIC Private Limited）、高瓴资本旗下HHLR、摩根士丹利旗下MSIP、富国基金以及豪威集 团（603501.SH）（00501.HK）旗下豪威香港等知名机构。基石投资者们合计认购了总额约24.16亿港元 的发售股份。 大族数控是A股上市公司大族激光（002008.SZ）的控股子公司，后者持有其83.63 ...

2月4日晚间，环旭电子发布业绩快报，2025年度公司实现营业收入591.95亿元，同比下降2.46%；实现 归母净利润18.53亿元，同比增长12.16%。 长江商报记者注意到，这是环旭电子在2023年、2024年连续两年的归母净利润下滑后，重回增长。 控费提效是环旭电子重回增长的因素之一。2025年，公司期间费用同比减少1.34亿元。 时隔两年， 环旭电子 （601231.SH）归母净利润恢复增长。 环旭电子还披露了2026年第一季度经营目标。其表示，第一季度是公司营收淡季， 综合 考虑各业务线 营收的变动情况，公司预计第一季度单季营业收入和营业利润率同比持平。 加速CPO业务布局 公开资料显示，环旭电子是全球电子制造设计领导厂商。公司不仅拥有电子产品专业设计制造（涵盖电 子零组件、零配件和整机）及系统组装的综合实力，还拥有精选细分领域和整合产品的优势，产品组合 涵盖通讯、消费电子、云端及存储、工业电子及医疗、汽车电子等五大领域。 2025年，环旭电子持续布局创新业务，并取得了显著的进展。公司 智能眼镜 业务取得重要订单，AI加 速卡业务高速成长。 大力度研发则为环旭电子产业发展提供了坚实支撑。近四个年度， ...

Key Takeaways KE posted Q2 FY26 EPS of 28 cents, matching estimates, while revenues fell year over year to $341.3M.Medical segment grew 15% Y/Y to $96.3M, offset by double-digit declines in automotive and industrial units.Gross margin rose 160 bps to 8.2% and FY26 sales guidance was raised to $1.40B-$1.46B.Kimball Electronics (KE) came out with second-quarter fiscal 2026 earnings of 28 cents per share, in line with the Zacks Consensus Estimates. This compares with earnings of 29 cents per share a year ago.K ...

TTM Technologies (NasdaqGS:TTMI) Q4 2025 Earnings call February 04, 2026 04:30 PM ET Company ParticipantsDan Bailey - EVP and CFOEdwin Roks - President and CEOMike Crawford - Senior Managing Director and Head of the Discovery GroupRuben Roy - Managing DirectorSean Hannan - VP of Investor RelationsConference Call ParticipantsJim Ricchiuti - Senior AnalystWill Stein - Semiconductor and Artificial Intelligence Equity Research AnalystOperatorGood day and welcome to the TTM Technologies Q4 2025 earnings conferen ...

Financial Data and Key Metrics Changes - The company achieved sales of $774.3 million in Q4 2025, a 19% year-over-year increase from $651 million in Q4 2024, driven by strong demand in various end markets [9][15] - Non-GAAP EPS reached $0.70 per diluted share, marking an all-time quarterly record high for the company [9][22] - Adjusted EBITDA margin improved to 16.3% in Q4 2025 from 14.7% in the prior year, reflecting better operational execution [9][22] - Cash flow from operations was $63 million, or 8.1% of sales, bringing total cash flow for fiscal 2025 to $292 million, or 10% of sales [9][15] Business Line Data and Key Metrics Changes - The aerospace and defense end market represented 41% of Q4 2025 sales, growing 5% year-over-year [10] - Data center computing sales grew 57% year-over-year in Q4 2025, representing 20% of total sales [11] - The medical, industrial, and instrumentation end market saw a 28% year-over-year growth in Q4 2025, accounting for 14% of total sales [12] - Automotive sales represented 9% of Q4 2025 sales, with a focus on higher-value products expected to decrease to 8% in Q1 2026 [13][14] Market Data and Key Metrics Changes - The overall book-to-bill ratio was 1.35 for Q4 2025, with the aerospace and defense segment at 1.46 [14] - The company expects sales from the aerospace and defense market to represent 42% of total sales in Q1 2026 [10] - The combined sales for data center and networking markets would have represented 36% of total sales in Q4 2025, expected to rise to 37% in Q1 2026 [11][12] Company Strategy and Development Direction - The company focuses on Advanced Interconnect technologies and aims to move up the value chain into complex modules and subsystems [4][5] - The strategy includes investing in capacity expansion to support growth in AI and defense markets, with a revenue growth target of 15%-20% per year for the next three years [6][7] - The company is positioned to leverage its global footprint across 24 sites to meet increasing demand for complex technology solutions [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential driven by megatrends in AI and defense, with 80% of net sales related to these areas [6][7] - The company anticipates continued strong demand in data center computing and networking markets, particularly for AI applications [11][12] - Management highlighted the importance of technological innovation and capacity expansion to seize growth opportunities [6][7] Other Important Information - The company plans to participate in upcoming industry conferences, including the Citi Industrial Tech and Mobility Conference and the JPMorgan Leveraged Finance Conference [25] Q&A Session Summary Question: Capacity addition in China and Syracuse - Management confirmed good progress in extending capacity in both China and the U.S., with no issues in supply chain or equipment [28] - Syracuse facility is on track, with first revenues expected in the second half of the year [29] Question: Gross margin improvement and Penang headwinds - Management noted a headwind of about 180 basis points from Penang, with improvements expected throughout the year [31][32] Question: Eau Claire facility plans - Eau Claire is the largest PCB site in the U.S., with plans to tool up the facility over the next 18-24 months [36] Question: Book-to-bill ratio and order visibility - Management indicated that visibility for ongoing commercial business is about 6-9 months, with a significant backlog in defense [41] Question: CapEx and growth targets - The company plans additional capital expenditures of $200 million-$300 million for data center capacity in China over the next two to three years [46] Question: Impact of copper prices - Management does not expect significant impacts from copper price volatility, as they can pass costs through to customers [58]

Financial Data and Key Metrics Changes - TTM Technologies achieved sales of $774.3 million in Q4 2025, a 19% year-over-year increase from $651 million in Q4 2024, driven by strong demand in various end markets [14][8] - Non-GAAP EPS reached $0.70 per diluted share, marking an all-time quarterly record high for the company [20][8] - Adjusted EBITDA margin improved to 16.3% in Q4 2025 from 14.7% in the prior year, reflecting better operational execution [20][8] - For the full year 2025, net sales were $2.9 billion, up from $2.4 billion in 2024, also a 19% increase [14][15] Business Line Data and Key Metrics Changes - The aerospace and defense end market represented 41% of Q4 2025 sales, growing 5% year-over-year for the quarter and 13% for the full year [9][10] - Data center computing sales grew 57% year-over-year in Q4 2025, representing 20% of total sales, while networking sales increased 23% year-over-year, accounting for 8% of total sales [10][11] - The medical, industrial, and instrumentation end market saw a 28% year-over-year growth in Q4 2025, representing 14% of total sales [11][12] - Automotive sales represented 9% of Q4 2025 sales, with a focus on higher-value products expected to decrease to 8% in Q1 2026 [12][11] Market Data and Key Metrics Changes - The overall book-to-bill ratio was 1.35 for Q4 2025, with the aerospace and defense segment at 1.46, indicating strong demand and order visibility [12][10] - The 90-day backlog increased to $654.9 million at the end of 2025, up from $502.1 million a year ago [12][10] Company Strategy and Development Direction - The company is focused on Advanced Interconnect technologies and aims to move up the value chain into complex modules and subsystems [4][5] - TTM anticipates healthy growth driven by participation in key megatrends such as Artificial Intelligence and defense, with 80% of net sales related to these areas [5][6] - The company plans to grow revenues by 15%-20% annually over the next three years and aims to double earnings from 2025 to 2027 [6][5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet growth targets, citing strong demand in data center computing and networking due to AI applications [6][5] - The company is well-positioned to support growth across end markets and is investing in capacity expansion [6][5] - Management noted that the operating environment remains favorable, with ongoing demand in aerospace and defense and increased automation in medical and industrial markets [7][5] Other Important Information - The company expects Q1 2026 net sales to be in the range of $770 million to $810 million, with non-GAAP earnings projected between $0.64 and $0.70 per diluted share [21][22] - Capital expenditures for 2026 are expected to be in the range of $240 million to $260 million, with additional investments planned for data center capacity in China [44][45] Q&A Session Summary Question: Capacity addition in China and Syracuse - Management confirmed good progress in extending capacity in both China and the U.S., with no issues anticipated in supply chain or equipment [25][26] Question: Gross margin headwinds from Penang - Management indicated a headwind of about 180 basis points from Penang in Q4, with expectations for improvement throughout the year [28][29] Question: Update on Eau Claire facility - Management stated that Eau Claire is the largest PCB site in the U.S. and will take 18-24 months to generate revenue as it is equipped [34][35] Question: Impact of volatile copper prices - Management does not expect significant impacts from copper price volatility, as pricing adjustments can be passed through to customers [56][56]

SANTA ANA, Calif., Feb. 04, 2026 (GLOBE NEWSWIRE) -- TTM Technologies, Inc. (NASDAQ: TTMI) (“TTM”), a leading global manufacturer of technology products, including mission systems, radio frequency (“RF”) components, RF microwave/microelectronic assemblies, and technologically advanced interconnect products, including printed circuit boards (“PCB”s) and substrates, today reported results for the fourth quarter and fiscal 2025, which ended on December 29, 2025. Fourth Quarter 2025 Highlights Net sales were $7 ...

证券研究报告 | 公司更新 | 元件 鹏鼎控股(002938) 报告日期：2026 年 02 月 04 日 全球 PCB 龙头卡位算力赛道，AI 驱动第二成长曲线 ——鹏鼎控股更新报告 投资要点 ❑ 核心逻辑 公司作为全球领先的电路板供应商，深度绑定消费电子头部客户，当前正从消费 电子向 AI 算力及高阶通信板领域打开新的成长方向，算力相关业务有望超预 期。 ❑ 算力 PCB 加速扩张 公司加大投入布局，持续扩产 AI PCB 产能。公司加速布局 AI 应用市场产品， 下游终端市场包括服务器、AI 端侧、低轨卫星等高潜力赛道，终端产品包括高 阶 HDI（含 SLP）、HLC 等高端产品。公司泰国园区投资 42.97 亿元，加强 AI "云-管-端"全产业链产品矩阵，实现全球化布局。全资子公司庆鼎精密竞得淮 安工业用地，以承接 PCB 产业投资需求，为未来扩张打好坚实基础。 ❑ 技术优势持续体现 持续研发布局前沿技术，未来有望深度收益 AI 发展新需求。公司推出适配 GPU 和高速传输接口的高阶 HDI，光通讯领域，公司利用过去在消费电子领域积累 的 SLP 技术，设计高阶 mSAP 导入 800G/1.6T ...