Core Viewpoint - The company plans to invest approximately 1.5 billion RMB in the "Chip Innovation and Intelligence Carrier" project to enhance the production capacity of embedded chip PCB products and advanced HDI circuit boards [1] Group 1 - The project aims to scale up the production of embedded chip PCB products and improve the capacity of high-end HDI products [1] - The planned design capacity for the project is 660,000 square meters per year [1]

Group 1 - The board of directors of Guangdong Shiyun Circuit Technology Co., Ltd. held its eighth meeting of the fifth session, where all seven directors participated, ensuring the meeting's legality and effectiveness [1] - The board approved the 2025 semi-annual report and its summary, which will be disclosed on the Shanghai Stock Exchange website and selected media [2][3] - The board approved a proposal to change and delay certain fundraising projects, reallocating uninvested funds from the "Heshan Shimao Electronics Technology Co., Ltd. annual production of 3 million square meters of circuit board new construction project (Phase II)" to a high-end, high-precision printed circuit board construction project (Phase I) [2][3] Group 2 - The board approved the investment in the "Chip Innovation Smart Carrier" new generation PCB intelligent manufacturing base project, with an estimated total investment of approximately 1.5 billion RMB, aimed at enhancing production capacity for embedded chip PCBs and advanced HDI circuit boards [3] - The board reviewed and approved a special report on the storage and actual use of raised funds for the first half of 2025, in compliance with relevant regulations [4] - The board approved a semi-annual evaluation report on the "Quality Improvement and Efficiency Enhancement Return" action plan for 2025, which aligns with national policies and aims to improve company quality [4][5] Group 3 - The board approved an adjustment to the investment types for idle self-owned funds for entrusted wealth management, allowing for investments in medium-risk financial products with a total limit of up to 500 million RMB [6] - The board approved the establishment of a "Wealth Management Management System" to regulate entrusted wealth management activities and enhance fund operation efficiency [6] - The board proposed to convene the third extraordinary general meeting of shareholders in 2025 [8]

Investment Overview - The company plans to invest approximately RMB 1.5 billion in the "Chip Innovation and Intelligent Carrier" new generation PCB manufacturing base project, with an expected production capacity of 660,000 square meters per year [2][3] - The project aims to enhance the production capacity of chip-embedded PCB products and high-end HDI products to meet the increasing demand from downstream customers [2][4] Project Details - The project will be located in the Iron Ridge Industrial Zone, Gonghe Town, Heshan City [3] - The total investment includes RMB 463 million for construction, RMB 962 million for equipment purchase and installation, and RMB 60 million for working capital [3] - The project is expected to start construction in the second half of 2025 and begin production in mid-2026 [2][3] Market Demand and Strategic Importance - The demand for HDI and multilayer boards is projected to grow by 12.9% in 2025, driven by sectors such as artificial intelligence and electric vehicles [4] - The chip-embedded PCB technology offers advantages such as improved reliability, reduced electrical losses, and enhanced thermal performance, making it a key focus for future development [4][5] - The company aims to optimize its product structure and enhance competitiveness in the high-end PCB market, aligning with its long-term strategic goals [4][5] Financial Impact - The project is expected to generate new profit growth points and enhance the company's brand influence, aligning with its high-quality development strategy [5] - The funding for the project will come from the company's own or self-raised funds, which will not significantly impact the company's financial status [5][6] Risk Management - The company acknowledges potential risks related to market competition, project construction delays, and funding challenges, and plans to implement measures to mitigate these risks [6][7]