Core Viewpoint - The company XunJieXing (688655.SH) reported a revenue of 292 million yuan for the first half of the year, a year-on-year increase of 27.66%, but faced a net loss of 2.76 million yuan, contrasting sharply with a profit of 3.98 million yuan in the same period last year, marking it as a notable "laggard" in the booming PCB industry [2][3]. Group 1: Company Performance - XunJieXing's main business is the research, production, and sales of printed circuit boards (PCBs), focusing on small-batch, customized demands rather than large-volume orders [3][4]. - Despite the overall PCB market experiencing significant growth, XunJieXing's unique business model has limited its ability to capture market share, as small-batch and sample boards account for only 15%-20% of the industry [4][5]. - The company’s net loss was primarily attributed to the initial phase of new capacity release from its subsidiary, resulting in a loss of 11.54 million yuan [4]. Group 2: Industry Context - The PCB industry is projected to grow by 6.8% year-on-year in 2023, with the AI/HPC server PCB segment expected to see a compound annual growth rate (CAGR) of 32.5% from 2023 to 2028 [3]. - Competitors such as Shenghong Technology and Pengding Holdings reported significant revenue and profit increases, highlighting XunJieXing's underperformance in comparison [3]. Group 3: Strategic Initiatives - XunJieXing has initiated a three-pronged strategy of expansion, acquisition, and incentive programs to address its challenges [6][8]. - The company is expanding its production capacity with a new smart factory project set to produce 600,000 square meters of PCBs, which is expected to be operational by the end of 2023 [6][7]. - An acquisition of Shenzhen Jiazhihong Electronics Co., which specializes in flexible circuit boards, is planned, potentially doubling XunJieXing's revenue if successful [7][8]. - A stock incentive plan has been introduced to bind the core team to revenue and profit growth targets, aiming for a revenue increase of at least 30% by 2025 [8].

迅捷兴: 民生证券股份有限公司关于深圳市迅捷兴 科技股份有限公司2024年持续督导跟踪报告书 民生证券股份有限公司 关于深圳市迅捷兴科技股份有限公司 根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市规 则》等有关法律、法规的规定，民生证券股份有限公司（以下简称"保荐机构"） 作为深圳市迅捷兴科技股份有限公司（以下简称"迅捷兴"和"公司"）持续督导 工作的保荐机构，负责迅捷兴上市后的持续督导工作，并出具本持续督导年度报告 书。 一、持续督导工作情况 序号 工作内容 持续督导情况 保荐机构已建立健全并有效执行了 建立健全并有效执行持续督导工作制度，并针对具 体的持续督导工作制定相应的工作计划 作计划 根据中国证监会相关规定，在持续督导工作开始 保荐机构已与迅捷兴签署了保荐及 前，与上市公司或相关当事人签署持续督导协议， 承销协议，该协议明确了双方在持 明确双方在持续督导期间的权利义务，并报上海证 续督导期间的权利和义务，并报上 券交易所备案 海证券交易所备案。 保荐机构通过日常沟通、定期或不 通过日常沟通、定期回访、现场检查、尽职调查等 定期回访、现场检查等方式，了解 方式开展持续督导工作 迅捷 ...