9月29日，兴森科技盘中上涨2.02%，截至10:11，报22.70元/股，成交5.85亿元，换手率1.72%，总市值 385.83亿元。 资金流向方面，主力资金净流入2534.39万元，特大单买入1.04亿元，占比17.82%，卖出8630.99万元， 占比14.74%；大单买入1.73亿元，占比29.63%，卖出1.66亿元，占比28.38%。 兴森科技今年以来股价涨104.87%，近5个交易日跌5.34%，近20日涨4.22%，近60日涨74.21%。 今年以来兴森科技已经2次登上龙虎榜，最近一次登上龙虎榜为8月29日，当日龙虎榜净买入4361.16万 元；买入总计6.78亿元 ，占总成交额比13.11%；卖出总计6.35亿元 ，占总成交额比12.27%。 资料显示，深圳市兴森快捷电路科技股份有限公司位于广东省深圳市南山区粤海街道沙河西路与白石路 交汇处深圳湾科技生态园一区2栋A座8层，成立日期1999年3月18日，上市日期2010年6月18日，公司主 营业务涉及PCB业务、半导体业务。主营业务收入构成为：PCB印制电路板71.45%，IC封装基板 21.09%，其他4.29%，半导体测试板3.17%。 ...

兴森科技所属申万行业为：电子-元件-印制电路板。所属概念板块包括：PCB概念、5G、光通信、华为 概念、毫米波雷达等。 截至9月19日，兴森科技股东户数13.30万，较上期增加13.68%；人均流通股11357股，较上期减少 12.03%。2025年1月-6月，兴森科技实现营业收入34.26亿元，同比增长18.91%；归母净利润2883.29万 元，同比增长47.85%。 分红方面，兴森科技A股上市后累计派现11.29亿元。近三年，累计派现2.70亿元。 机构持仓方面，截止2025年6月30日，兴森科技十大流通股东中，香港中央结算有限公司位居第五大流 通股东，持股3361.64万股，相比上期增加831.05万股。南方中证500ETF（510500）位居第六大流通股 东，持股2504.68万股，相比上期增加351.90万股。光大保德信信用添益债券A类（360013）位居第九大 流通股东，持股1129.31万股，相比上期减少1064.60万股。易方达供给改革混合（002910）退出十大流 通股东之列。 9月25日，兴森科技盘中下跌2.05%，截至09:39，报22.48元/股，成交2.44亿元，换手率0.71%， ...

融资方面，兴森科技当日融资买入4.43亿元。当前融资余额28.91亿元，占流通市值的7.41%，融资余额 超过近一年90%分位水平，处于高位。 融券方面，兴森科技9月24日融券偿还15.78万股，融券卖出2300.00股，按当日收盘价计算，卖出金额 5.28万元；融券余量81.93万股，融券余额1880.29万元，超过近一年90%分位水平，处于高位。 资料显示，深圳市兴森快捷电路科技股份有限公司位于广东省深圳市南山区粤海街道沙河西路与白石路 交汇处深圳湾科技生态园一区2栋A座8层，成立日期1999年3月18日，上市日期2010年6月18日，公司主 营业务涉及PCB业务、半导体业务。主营业务收入构成为：PCB印制电路板71.45%，IC封装基板 21.09%，其他4.29%，半导体测试板3.17%。 9月24日，兴森科技跌1.33%，成交额31.71亿元。两融数据显示，当日兴森科技获融资买入额4.43亿 元，融资偿还2.30亿元，融资净买入2.12亿元。截至9月24日，兴森科技融资融券余额合计29.10亿元。 分红方面，兴森科技A股上市后累计派现11.29亿元。近三年，累计派现2.70亿元。 机构持仓方面，截止 ...

Group 1: Industry Overview - The global PCB industry is undergoing a significant transformation, with China's share of global PCB output expected to rise from 8.1% in 2000 to 56.1% by 2024, and projected to remain above 50% in 2029 [1] - The market size of China's PCB industry is anticipated to reach 415.6 billion yuan in 2024, reflecting a year-on-year growth of 8.3%, and is expected to grow to 554.5 billion yuan by 2029 [2] - The shift of PCB production to China is driven by labor costs, supply chain integration, and market demand, marking a transition from basic manufacturing to advanced technology applications in sectors like 5G, electric vehicles, and AI hardware [2][3] Group 2: Company Spotlight - Jialichuang - Jialichuang is recognized as the leading company in the small-batch PCB production sector, with 7.1 million registered users and over 1 million paying users, processing 17.8 million orders annually [4] - The company has innovated a "group order" model that significantly reduces the cost of PCB prototyping from hundreds or thousands of yuan to tens of yuan, and shortens delivery times from weeks to as fast as 12 hours [5] - Jialichuang's digital ordering system allows engineers to manage the entire PCB production process online, enhancing efficiency and breaking traditional constraints of time and space [5][6] Group 3: Competitive Advantages of Jialichuang - Jialichuang maintains high quality through stringent control over raw materials, production processes, and testing, utilizing advanced equipment and techniques for defect detection [8] - The company has redefined delivery efficiency, with 6-layer boards shipped in as little as 48 hours and single/double-sided boards in 12 hours, thanks to a fully digitalized order and production system [8][9] - Jialichuang's cost structure is optimized to lower user expenses, offering transparent pricing, free file processing, and free shipping, which enhances user experience and promotes industry advancement [9]

Core Viewpoint - The article emphasizes the importance of PCB (Printed Circuit Board) design in smart vehicles, highlighting how high-density integration and miniaturization can enhance vehicle performance and functionality [5][7][39]. Group 1: PCB Overview - PCB is a critical component in electronic products, providing electrical connections and mechanical support, essential for vehicle data display, power control, and safety [7][15]. - The PCB size in the Thor-U project is 210mm×191mm with a board density of 68%, significantly higher than the industry standard of 51% for larger PCBs [5][39]. Group 2: Characteristics of Excellent PCB Design - An excellent PCB design must balance high quality, high efficiency, and miniaturization to ensure reliability and performance in extreme automotive environments [15][22]. - High quality ensures stable operation throughout the vehicle's lifecycle, while high efficiency allows for compact structures that enhance user experience [16][19]. - Miniaturization is crucial for maximizing space in vehicles, enabling the integration of more functions and features [21][39]. Group 3: Quality Assurance in PCB Design - The company implements rigorous reliability design and testing standards to ensure PCB quality, addressing the harsh conditions faced by automotive PCBs compared to consumer electronics [23][26]. - The reliability testing includes various assessments such as CAF testing, thermal shock testing, and high-temperature storage testing to ensure long-term performance [30][32]. Group 4: Signal Integrity and Testing - The company employs board-level signal simulation and testing to preemptively identify risks and ensure stable operation of PCBs in real-world applications [33][34]. - The simulation capabilities cover critical power and high-speed signals, achieving 100% coverage in key areas, which is superior to industry benchmarks [35][37]. Group 5: Innovations in Miniaturization - The company focuses on achieving extreme miniaturization through innovative design methods, including high-density integration and modular design [39][49]. - The PCB design incorporates a unique calculation method for board density and a tool that reduces assessment time significantly [40][41]. Group 6: Summary - The article outlines the fundamental role of PCBs in smart vehicles, detailing the essential elements of high quality, efficiency, and miniaturization, along with the company's innovative practices and achievements in these areas [5][50].