（来源：名城苏州网） 转自：名城苏州网 作为同处苏州的"千亿伙伴"，沪电股份是全球领先的高端印刷电路板（PCB）龙头，今年以来，公司股 价累计涨幅超90%，截至9月24日收盘，总市值达1432亿元。公司的赴港逻辑与东山精密高度契合。据 其公告，此次筹划境外发行股份，是基于公司总体发展战略及实际运营需求，旨在通过港交所平台优化 海外业务布局、拓展多元化融资渠道，为后续全球业务扩张储备资本。 为何两家苏州千亿级制造企业会在短期内相继选择赴港上市？苏州证券业人士在分析指出，对东山精 密、沪电股份这类海外业务占比高的企业而言，港交所的优势尤为明显：一方面能提供低成本的国际资 本支持，另一方面可借助香港国际金融枢纽的区位优势，助力企业深化全球供应链布局与客户合 作。"这一选择不仅贴合两家企业的长期发展规划，更顺应了中国制造业企业'走出去'与资本市场双向 开放的大趋势。" 从业务数据来看，两家企业的海外市场依赖度也印证了其国际化布局的必要性。2025年半年报显示，东 山精密上半年海外收入达131.68亿元，占总营收比重为77.66%；沪电股份同期海外收入68.93亿元，占 总营收比例更高达81.16%。 9月23日，千亿 ...

Group 1 - The company, Chongda Technology, has a subsidiary, Sandeguan, that supplies flexible printed circuit board (FPC) products for Huawei's Mate series and foldable smartphones [1]

Core Viewpoint - The company, Ruihua Tai, produces PI films that serve as substrates for flexible printed circuit boards (FPC), positioning itself in the upstream of the FPC industry chain [1] Group 1: Company Operations - The PI films produced by the company are supplied to manufacturers of flexible copper-clad laminates (FCCL), such as Shengyi Technology and Lianmao [1] - FCCL manufacturers utilize these products for precision circuit processing in flexible printed circuit boards [1] Group 2: Industry Applications - The final applications of the company's products are in smart electronic terminal devices [1] - The company does not have direct business relations with Shenghong Technology [1]

Group 1 - The company reported a revenue of 2.066 billion yuan for the first half of 2025, representing a year-on-year growth of 22.12% [1] - The net profit for the same period was 137 million yuan, with a year-on-year increase of 18.49% [1] - The net cash flow from operating activities reached 338 million yuan, showing a significant year-on-year growth of 87.95% [1] Group 2 - The company focuses on core business areas, enhancing product research and development, and expanding global operations and production capacity [1] - The company has established production bases in multiple locations, including Shenzhen, Ningde, Liyang, Yibin, Leqing, and Zhaoqing, and offers a range of products including battery connection components and flexible printed circuits (FPC) [2] - The company aims to integrate upstream material resources and enhance market competitiveness and cost advantages through technological advancements in connection components [2]

Core Viewpoint - 壹连科技 reported strong financial performance in the first half of 2025, driven by growth in the electric connection components sector and expansion into new markets such as low-altitude economy and energy storage [1][2][4]. Financial Performance - The company achieved operating revenue of 2.066 billion yuan, a year-on-year increase of 22.12% [1] - Net profit attributable to shareholders was 137 million yuan, up 18.49% year-on-year [1] - The net profit excluding non-recurring gains and losses was 124 million yuan, reflecting a growth of 15.40% [1] - Basic earnings per share stood at 1.49 yuan [1] - Net cash flow from operating activities reached 338 million yuan, a significant increase of 87.95% [1] Business Focus and Market Expansion - 壹连科技 is focusing on core business areas, enhancing product R&D and technology innovation, and expanding global presence and production capacity [1] - The company is actively developing various downstream applications and key projects to broaden its product application fields [1] - The growth in the new energy vehicle penetration rate and the stable development of the energy storage industry are driving revenue and profit growth [1][2] Product Matrix and Industry Trends - The company specializes in electric connection components, with production bases established in multiple locations across China [2] - The global new energy vehicle market is experiencing rapid growth, with sales reaching 7.52 million units in the first five months of 2025, a year-on-year increase of 32.4% [2] - Revenue from the company's main product, electric core connection components, was 1.216 billion yuan, up 20.26% year-on-year [2] - The electric connection components sector is entering a golden development period due to the rapid growth of new energy vehicles and expanding energy storage scale [2] Technological Advancements - The company is integrating upstream material resources and focusing on the production of flexible printed circuits (FPC), which are crucial for electric vehicle battery management systems [3] - FPCs are expected to play a key role in the trend towards miniaturization and lightweight electronic devices, enhancing the company's market competitiveness and cost advantages [3] New Market Opportunities - 壹连科技 has entered the low-altitude economy sector, developing products for drones and other low-altitude vehicles [4] - The low-altitude economy market in China is projected to exceed 1.5 trillion yuan by 2025, driven by policy, capital, technology, and demand [4] - The company aims to leverage this emerging market to enhance its business prospects and economic growth [4] Capacity Expansion and Strategic Development - The company’s subsidiary, Ningde Yilian Electronics, recently held an opening ceremony, marking a significant upgrade in production capacity and technological capabilities [5] - The new production base will serve as a strategic hub to enhance service capabilities for core customers and strengthen market competitiveness [5]

Group 1 - The company, Dongshan Precision, announced a private placement of A-shares to raise a total of 1.404 billion RMB, with a net amount of approximately 1.392 billion RMB after deducting issuance costs [1][3] - The raised funds will primarily be used to supplement working capital and meet the funding needs arising from business development, enhancing the company's sustainable development capabilities [3] - The company emphasized that the completion of this issuance will not result in significant changes to its main business scope or revenue structure [3] Group 2 - On June 15, Dongshan Precision announced plans to acquire 100% of the shares of global optical communication module manufacturer, Solstice Optoelectronics, for no more than 5.935 billion RMB, marking its entry into the optical communication field [5] - The acquisition is expected to facilitate the strategic upgrade of the company and promote collaborative development across its business segments, including consumer electronics, new energy vehicles, and optical communication [5] - Dongshan Precision is involved in the research, production, and sales of electronic circuit products, precision components, touch display modules, and LED display devices, serving various industries such as consumer electronics, new energy vehicles, communication equipment, industrial equipment, AI, and medical devices [5] Group 3 - Starting in 2024, the company initiated internal reforms in its LED business, establishing a low-cost production model, with positive results already visible in the first quarter of 2025 [6] - The company is actively optimizing its business structure by shifting sales strategies from reliance on distributors to focusing on engineering clients, thereby increasing the proportion of high-margin products [7] - The company plans to expand its product line to meet technological upgrade demands in areas such as TV backlighting, continuously launching new products to drive significant loss reduction and achieve sustainable development in its LED business [7]

Core Viewpoint - Guangyang Co., Ltd. plans to acquire 100% equity of Ningbo Yinqiu Technology Co., Ltd. through a combination of issuing shares and cash payment, which is expected to constitute a major asset restructuring [2][3]. Group 1: Acquisition Details - The acquisition aims to enhance industrial synergy as both Guangyang Co. and Yinqiu Technology are deeply involved in the bearing sector [3]. - The transaction involves key stakeholders including Hu Yongpeng and Li Dinghua, who collectively hold 68.96% of Yinqiu Technology [3]. - Guangyang Co. will suspend trading starting May 19 and is expected to disclose the transaction plan within 10 trading days [3][5]. Group 2: Financial Performance - As of May 16, Guangyang Co.'s stock price was 12.43 CNY per share, with a market capitalization of 6.987 billion CNY, reflecting a 2.14% increase [3]. - In 2024, Guangyang Co. reported a revenue of 2.31 billion CNY, a year-on-year increase of 26.7%, and a net profit of 51.01 million CNY, marking a turnaround from losses [8]. - The first quarter of 2025 showed a revenue of 606 million CNY, up 6.33% year-on-year, with a net profit of 2.544 million CNY, an increase of 6.67% [8]. Group 3: Strategic Initiatives - Guangyang Co. is actively expanding into the robotics sector, focusing on developing various robotic joint modules and components [7]. - The company announced plans to invest 1 billion CNY in a project aimed at producing high-end precision components for new energy vehicles and robots, with expected annual sales of 1 billion CNY for the first phase and 1.6 billion CNY for the second phase [7].

Core Viewpoint - Dongni Electronics reported a turnaround in net profit for 2024, achieving a net profit of 11.52 million yuan, driven by growth in various business segments and a significant reduction in asset impairment losses [2] Revenue and Profit Growth - The company achieved an operating revenue of 1.98 billion yuan, representing a year-on-year increase of 7.86% [2] - The net profit attributable to shareholders turned positive, reaching 11.52 million yuan [2] Business Segment Performance - **Consumer Electronics**: The demand in the consumer electronics sector has rebounded, leading to increased revenue and gross profit. The company improved operational quality through enhanced product quality, stable delivery, and optimized product specifications [2] - **Photovoltaic Business**: Although revenue declined, gross profit improved due to structural adjustments and cost control. The focus on high-value products like cutting magnetic materials and sapphire has led to an overall increase in gross profit [3] - **Medical Business**: The medical segment continues to grow steadily, with increased revenue and gross profit driven by high-value products for international clients. The company is also working on new product verification and mass production [3] - **New Energy Business**: Revenue and gross profit in the new energy sector have both increased. The company supplies key components like circuit boards and ear tabs to downstream battery manufacturers, achieving significant revenue growth through improved production processes [4] Strategic Goals - The company aims to become a leading manufacturer of ultra-fine electronic wires and metal-based composite materials, focusing on innovation and future growth. Plans for 2025 include enhancing product development through partnerships and advanced testing facilities [4][5]