Core Insights - Guanghe Technology (001389) reported a total revenue of 2.425 billion yuan for the first half of 2025, representing a year-on-year growth of 42.17%, and a net profit attributable to shareholders of 492 million yuan, up 53.91% year-on-year [1] Business Performance - The main business of Guanghe Technology focuses on the research, production, and sales of multi-layer printed circuit boards (PCBs), primarily targeting the mid-to-high-end application market, with significant applications in servers, consumer electronics, industrial control, security electronics, communication, and automotive electronics [1] - Revenue from server PCBs accounts for approximately 70% of the company's total revenue, making it the primary downstream application area [1] - The company has benefited from strong demand in the computing infrastructure sector, leading to robust growth in the supply chain for computing products [1] Manufacturing and Capacity Expansion - The main manufacturing base in Guangzhou has enhanced production capacity and process capabilities through digital transformation, resulting in improved product structure and delivery competitiveness [2] - The Thailand facility officially commenced operations in June 2025 and is currently in the capacity ramp-up phase, with plans to accelerate customer certification and product introduction in the second half of the year [2] Research and Development - Research and development expenses reached 117 million yuan, a year-on-year increase of approximately 46%, reflecting the company's commitment to innovation [2] - The company has developed several core technologies related to server PCBs, establishing independent intellectual property rights and high-precision manufacturing processes [2] - Several key products, including high-performance PCBs for high-end servers and AI server motherboards, have been recognized as high-tech products in Guangdong Province for 2025 [3]

来源：企业公告 与您一路同行，做您最忠实的拥护者--PCB行业融合新媒体-2025年最有价值的电路板产业服务平台！欢 迎您的关注与点赞！祝您事业有成！平安喜乐！ 4月30日，广合科技发布公告称，基于深化全球战略布局的需要，经公司充分研究论证，拟发行H股股 票并在香港联合交易所有限公司（以下简称"香港联交所"）主板上市。公司将充分考虑现有股东的利益 和境内外资本市场的情况，在股东会决议有效期内（即经公司股东会审议通过之日起18个月或同意延长 的其他期限）选择适当的时机和发行窗口完成本次发行并上市。 广合科技成立于2002年6月，并于2024年4月2日在深交所主板成功上市。公司主营业务为多高层印制电 路板的研发、生产与销售，产品主要应用于服务器等中高端应用市场。 多年来广合科技深耕于高速PCB领域，并在服务器印制电路板生产领域积累了丰富经验。公司拥有多项 应用于各类服务器PCB的核心技术，形成了自主知识产权，并掌握了与之配套的高精度制造工艺。公司 目前已成为全球大数据、云计算等产业重要的PCB供应商。 同日，广合科技披露了2025年第一季度业绩，公司实现营业收入11.17亿元，同比增长42.41%；归属于 上市公 ...