Core Viewpoint - The Shanghai Stock Exchange's Listing Review Committee has approved the initial public offering of Super Electronics Circuit Co., Ltd, confirming that it meets the issuance, listing, and information disclosure requirements [1] Group 1: Company Overview - Super Electronics specializes in a wide range of products used in automotive electronics, displays, storage, consumer electronics, and communications, including double-sided boards, 26-layer boards, HDI boards, thick copper boards, metal substrates, and high-frequency high-speed boards [1] - The company primarily focuses on automotive electronic PCBs and is one of the few domestic companies capable of mass-producing multi-layer HDI and any-layer interconnected HDI automotive electronic boards [1] Group 2: Partnerships and Applications - Super Electronics has established stable partnerships with global Tier 1 automotive suppliers such as Continental, Valeo, Bosch, and Aptiv, as well as well-known new energy vehicle manufacturers like Tesla [1] - In traditional fuel vehicle applications, Super Electronics' products cover various PCB needs across the vehicle, including power control systems, central control systems, electronic dashboards, lighting systems, seat control systems, radar systems, and navigation systems, with applications in luxury car brands like Bentley, Porsche, Ferrari, Mercedes-Benz, BMW, Audi, Volkswagen, and Toyota [1] Group 3: New Energy Vehicles and Technology - In the new energy vehicle sector, Super Electronics focuses on cutting-edge product technology development, with applications in battery management systems, motor controllers, intelligent driving systems, intelligent cockpit domain controllers, and charging piles [2] - The company employs advanced technologies such as plasma degluing, pulse plating, selective plating, ultra-low loss materials, and asymmetric pressing to produce "high-frequency millimeter-wave radar boards," which are currently used in numerous well-known automotive production models [2] Group 4: Display and Storage Applications - In the display sector, Super Electronics collaborates with major PCB manufacturers like Zhi Chao and JandK Technology, and has established long-term stable partnerships with leading display panel manufacturers such as BOE and LG Group, with products used in LCD, OLED, and Mini LED displays [2] - In the storage domain, Super Electronics' products are primarily used in mechanical hard drives, solid-state drives, and memory modules, maintaining stable partnerships with leading global mechanical hard drive manufacturers like Seagate and Western Digital, as well as renowned solid-state drive manufacturers like SK Hynix [2]

全球与中国绝缘金属基板印刷电路板市场前景规划及前景深度评估报告2025-2031年 【内容部分有删减·详细可参中智信投研究网出版完整信息！】 【免费售后 服务一年，具体内容及订购流程欢迎咨询客服人员 】 1 绝缘金属基板印刷电路板市场概述 1.1 产品定义及统计范围 【全新修订】：2025年6月 1.2 按照不同产品类型，绝缘金属基板印刷电路板主要可以分为如下几个类别 1.2.1 全球不同产品类型绝缘金属基板印刷电路板销售额增长趋势2020 VS 2024 VS 2031 1.2.2 铝芯 1.2.3 不锈钢芯 1.2.4 铜芯 1.3 从不同应用，绝缘金属基板印刷电路板主要包括如下几个方面 1.3.1 全球不同应用绝缘金属基板印刷电路板销售额增长趋势2020 VS 2024 VS 2031 1.3.2 汽车 1.3.3 电力电子 1.3.4 固态继电器 1.3.5 其他 1.4 绝缘金属基板印刷电路板行业背景、发展历史、现状及趋势 1.4.1 绝缘金属基板印刷电路板行业目前现状分析 1.4.2 绝缘金属基板印刷电路板发展趋势 2 全球绝缘金属基板印刷电路板总体规模分析 2.1 全球绝缘金属基板印刷电路板供需 ...

| | ■特定对象调研 □分析师会议 | | | | --- | --- | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | | | 类别 | □新闻发布会 □路演活动 | | | | | □现场参观 □其他（电话调研） | | | | 参与单位名称及 | 华西证券 喇睿萌 | | | | 人员姓名 | | | | | 时间 | 年 5 月 日 10:00--11:00 | 2025 | 20 | | 地点 | 康佳研发大厦办公楼会议室 | | | | 上市公司接待人 | 康佳集团证券事务代表 苗雷强先生 | | | | 员 | 1、问：公司产品销往哪些海外市场？ | | | | | 答：公司的彩电、白电、手机、平板等产品销往亚太、中东、中南 美、东欧、北美、非洲等海外市场。 | | | | | 2、问：近期披露的控股股东筹划重大事项会对公司有什么影响？ | | | | | 答：关于控股股东筹划重大事项，公司将严格按照信息披露要求， | | | | | 持续关注有关进展，并根据相关法律法规的要求及时履行信息披露义务。 | | | | | 3、问：公司如何改善彩电业务？ | | ...

Group 1 - The core viewpoint is that the automotive sector is experiencing stable growth, while AI products are expected to open a second growth curve for the company [1][4] - The company has deepened its presence in the PCB industry with three major product lines: rigid boards, flexible boards, and metal substrates, covering various fields including automotive, consumer electronics, data centers, and communications [1] - The company is actively expanding its high-end capabilities, with significant progress in ramping up production at its Zhuhai Jinwan HLC and HDI factories, aiming to create high-tech, high-value-added products [1][3] Group 2 - The automotive industry is transitioning towards electrification and intelligence, with electric vehicle penetration still low but expected to rise, and AI technology driving the maturity of intelligent driving solutions [2] - The company has accumulated deep expertise in the automotive board sector and is well-positioned to benefit from the trends of electrification and intelligence in the automotive industry [2] - The demand for AI servers and high-speed network systems is expanding, leading to increased requirements for high-layer PCBs and high-end HDI products [3] Group 3 - The company has begun mass shipments of certain products in the AI server field and holds a leading advantage in emerging applications such as high-speed FPC and ultra-high-layer PTFE [3] - The company has achieved mass production capabilities for 800G optical modules and is preparing for 1.6T optical module production, continuously supplying major optical module clients [3] - The company is expected to maintain high growth in automotive and AI-related businesses over the next few years, with projected net profits of 1.545 billion, 1.984 billion, and 2.507 billion yuan for 2025-2027 [4]

公司研究丨深度报告丨世运电路（603920.SH） [Table_Title] 世运电路：深耕优势领域，开发新兴板块 %% %% %% %% research.95579.com 1 丨证券研究报告丨 报告要点 [Table_Summary] 世运电路始建于 1985 年，经过 39 年的发展，产品广泛应用到不同的领域，包括汽车、工业、 消费、电脑及周边产品、通讯和医疗类产品等。目前在公司的业务板块中，汽车电路板占比最 高，尤其是在新能源汽车方面，公司提前布局，取得一定优势。公司主要客户有特斯拉、松下、 三菱、博世西门子、戴森、丰田、大众等国际知名企业。目前，公司积极开拓国内外市场，深 耕核心领域，同时加速发展人工智能、低空飞行器、人形机器人等新兴产业，持续为客户提供 优质产品和服务。 分析师及联系人 [Table_Author] 杨洋 SAC：S0490517070012 SFC：BUW100 请阅读最后评级说明和重要声明 2 / 30 %% %% %% %% research.95579.com 2 世运电路（603920.SH） cjzqdt11111 [Table_Title2] 世运电路：深耕优势领 ...