港股IPO前夜，实控人套现超10亿。 作者 | 贝壳XY 编辑 | 小白 2026年初，内地企业赴港上市的热情再度升温，从科技新贵到制造老将，一批公司正排队敲响港交所 的铜锣。在这支队伍中，出现了一家低调的制造业巨头——景旺电子（603228.SH）。 或许你没听过这个名字，但如果你拆开一台华为手机、一个索尼相机，甚至是一辆特斯拉或者比亚 迪，很可能会发现印着"Kinwong"字样的电路板。成立三十余年，景旺电子已悄然成长为全球领先的 PCB制造商之一，市值超过650亿元。 然而，就在公司高调宣布筹划H股上市之际，一幕幕"巧合"接连上演：过去一年间，公司实控人刘绍 柏、黄小芬夫妇及其一致行动人，频繁减持公司股份，合计减持近2800万股，粗略估算套现金额高达 10.7亿元。 一边是公司奔赴资本新战场的雄心，一边是实控人持续且大额的悄然套现。景旺电子的这步棋，背后 究竟藏着怎样的盘算？ 汽车PCB全球老大，整体PCB全球前十 景旺电子的故事，几乎就是一部中国PCB产业的缩影。 1993年，公司创立于深圳，最初的产品不过是电话机里的一块普通电路板。彼时的中国，还是全球电 子产业链最末端的"代工车间"。 真正的转变发 ...

证券代码：603228 证券简称：景旺电子 公告编号：2026-006 深圳市景旺电子股份有限公司 关于为子公司提供担保的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 担保对象及基本情况 公司于 2025 年 12 月 8 日召开第五届董事会第六次会议，于 2025 年 12 月 25 日召开 2025 年第三次临时股东会审议通过了《关于向银行申请固定资产贷款 | | 被担保人名称 | 景旺电子科技（珠海）有限公司 | | --- | --- | --- | | | 本次担保金额 | 12.00 亿元 | | 担保对象一 | 实际为其提供的担保金 | 33.00 亿元（含 10.00 亿元共用额度） | | | 额（不含本次） | （注 1） | | | 是否在前期预计额度内 | 是 □否 □不适用：_________ | | | 本次担保是否有反担保 | □是 否 □不适用：_________ | | 担保对象二 | 被担保人名称 本次担保金额 实际为其提供的担保金 | 景旺电子（香港）有限公 ...

证券日报网讯2月5日，新广益（301687）在互动平台回答投资者提问时表示，公司主要客户有鹏鼎控股 （002938）、维信电子、景旺电子（603228）、歌尔股份（002241）、毅嘉科技、嘉联益等知名企业。 随着公司生产规模的扩大、生产工艺改良带来的生产能力的不断提高，公司将致力于成为更多知名客户 的供应商。 ...

证券代码：603228 证券简称：景旺电子 公告编号：2026-005 深圳市景旺电子股份有限公司 关于募集资金使用完毕并注销募集资金专户的公告 公司、民生证券股份有限公司（以下简称"民生证券"）与中国银行股份有 限公司深圳南头支行（以下简称"中行深圳南头支行"）于 2023 年 4 月 24 日签 署了《募集资金专户存储三方监管协议》，公司、景旺电子科技（珠海）有限公 司、民生证券与中行深圳南头支行于 2023 年 4 月 24 日签署了《募集资金专户存 储四方监管协议》。公司及子公司所开设的募集资金专项账户，仅用于募集资金 的存储和使用，不作其他用途。上述三方及四方监管协议与上海证券交易所三方 及四方监管协议范本不存在重大差异，公司在使用募集资金时已经严格遵照履行。 截至本公告披露日， 公司上述募集资金专项账户情况如下： | 募集资金专用账户名称 | 开户行 | 银行账号 | 存续状态 | | --- | --- | --- | --- | | 深圳市景旺电子股份有 限公司 | 中行深圳南头支行 | 758876863706 | 已注销 | | 景旺电子科技（珠海）有 限公司 | 中行深圳南头支行 | 7 ...

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：景旺电子，鹏鼎控股等公司均是英伟达PCB供应商，而 这些公司又是贵司长期客户，是否可以理解为，贵司是英伟达的间接供应商？公司与英伟达是否有直接 联系？ 新广益（301687.SZ）2月5日在投资者互动平台表示，尊敬的投资者，您好！根据公司披露的招股说明 书：公司主要客户有鹏鼎控股、维信电子、景旺电子、歌尔股份、毅嘉科技、嘉联益等知名企业。随着 公司生产规模的扩大、生产工艺改良带来的生产能力的不断提高，公司将致力于成为更多知名客户的供 应商。谢谢！ ...

Core Insights - The completion and launch of the Jingjia Intelligent Manufacturing Building and semiconductor packaging substrate project by Jingwang Electronics will enhance the high-end printed circuit board (PCB) industry in Shenzhen, injecting new momentum into the development of new productive forces in Bao'an and the entire city [1][3]. Group 1: Project Overview - The Jingjia Intelligent Manufacturing Building, located in Bao'an District, covers an area of 18,000 square meters with a total construction area of 92,000 square meters and a total investment of 2 billion yuan [3]. - The building exemplifies modern industrial architecture, integrating advanced concepts such as green building, prefabricated construction, and sponge city, reflecting Shenzhen's "industrial upward" model [3]. - The factory emphasizes high levels of automation and intelligence, utilizing an EAP system for real-time data collection and parameter distribution, promoting transparency and efficiency in production processes [3]. Group 2: Product Focus - The factory focuses on the research and flexible manufacturing of multi-category, high-tech, and high-value-added PCB and FPC products, including high-frequency radar, semi-rigid, rigid-flex, thick copper, coils, HDI, flexible circuits, and small PCS products [4]. - These products are widely used in core high-end fields such as automotive electronics (e.g., ADAS), high-end medical equipment, low-altitude flight, and embodied intelligence, aligning with Shenzhen's development needs in these areas [4]. Group 3: Company Background and Future Outlook - Established in 1993 and listed on the Shanghai Stock Exchange in 2017, Jingwang Electronics is a national high-tech enterprise focused on the R&D, production, and sales of high-end PCBs and electronic materials [6]. - The company has built long-term strategic partnerships with numerous global clients and occupies a significant position in the high-end PCB sector [6]. - Looking ahead, Jingwang Electronics aims to focus on high-performance PCB manufacturing, increase investment in technology R&D, and optimize product structure to seize opportunities in the AI era, contributing to the advancement of the PCB industry and the establishment of Shenzhen as a global electronic information industry hub [7].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has released a report on the status of domestic companies' overseas securities issuance and listing applications, indicating several companies are preparing for initial public offerings (IPOs) in Hong Kong as of January 30, 2026 [1]. Group 1: Companies Preparing for IPOs - Guangzhou New Ji Pharmaceutical Co., Ltd. is applying for a direct overseas listing on the Hong Kong Stock Exchange, with Guotai Junan Securities as the sponsor [3]. - Zhejiang Yifei Intelligent Technology Co., Ltd. is also seeking a direct overseas listing on the Hong Kong Stock Exchange, with Agricultural Bank of China International as the sponsor [3]. - Guangdong Daoyuan Technology Co., Ltd. plans a direct overseas listing on the Hong Kong Stock Exchange, with China International Capital Corporation and CITIC Securities (International) as sponsors [3]. - Wuxi Cheliantianxia Intelligent Technology Co., Ltd. is preparing for a direct overseas listing on the Hong Kong Stock Exchange, with Haitong International Capital as the sponsor [3]. - Beijing Weimai Medical Technology Co., Ltd. is applying for a direct overseas listing on the Hong Kong Stock Exchange, with China International Capital Corporation as the sponsor [3]. - Shenzhen Jingwang Electronics Co., Ltd. is also seeking a direct overseas listing on the Hong Kong Stock Exchange, with Guolian Securities International Limited as the sponsor [3]. - Shanghai Junsai Biotechnology Co., Ltd. is preparing for a direct overseas listing on the Hong Kong Stock Exchange, with CITIC Securities (Hong Kong) as the sponsor [3]. - Mainline Technology (Beijing) Co., Ltd. is applying for a direct overseas listing on the Hong Kong Stock Exchange, with Guotai Junan Securities as the sponsor [3]. Group 2: Companies with Other Listing Status - Laoxiangji (indirect overseas listing) is in the application process for a Hong Kong IPO, currently in the opinion solicitation stage [1]. - Chipmai Semiconductor Technology (Hangzhou) Co., Ltd. is in the process of submitting supplementary materials for its Hong Kong IPO application [1].

Group 1 - The CPO concept stocks in the A-share market experienced a widespread decline, with notable drops in several companies [1] - Yongding Co., Ltd. saw a significant decrease of over 8%, while Fenghuo Communication and Zhongjing Electronics fell by more than 4% [1] - Other companies such as Sry New Materials, Benchuan Intelligent, Changxin Bochuang, Jufei Optoelectronics, and Tongfu Microelectronics also reported declines exceeding 3% [1] Group 2 - Yongding Co., Ltd. reported a decline of 8.63% with a total market value of 35.9 billion [2] - Fenghuo Communication decreased by 4.80%, with a market capitalization of 51.2 billion, and has a year-to-date increase of 17.52% [2] - Zhongjing Electronics fell by 4.63%, with a market value of 6.935 billion, and a year-to-date decline of 7.06% [2] - Sry New Materials decreased by 3.91%, with a market capitalization of 30.5 billion, and a year-to-date increase of 1.55% [2] - Benchuan Intelligent saw a decline of 3.79%, with a market value of 4.263 billion, and a year-to-date decrease of 0.81% [2] - Changxin Bochuang dropped by 3.49%, with a market capitalization of 43.4 billion, and a year-to-date increase of 4.72% [2] - Jufei Optoelectronics declined by 3.37%, with a market value of 9.748 billion, and a year-to-date increase of 0.58% [2] - Tongfu Microelectronics fell by 3.26%, with a market capitalization of 75.6 billion, and a year-to-date increase of 32.07% [2] - Other companies such as Ziguang Co., Huamao Technology, and Kechuan Technology also reported declines, with varying market values and year-to-date performances [2]

Group 1 - The core viewpoint of the article highlights the impressive performance of fund manager Ren Jie, who achieved a 233% annual return in 2025, and his latest portfolio reveals new investments and adjustments in holdings [1][2] - Ren Jie's top ten holdings include new positions in Dongshan Precision, Jingwang Electronics, Industrial Fulian, and Cambridge Technology, while he increased stakes in Shengyi Technology, Huadian Shares, Xinyi Technology, Shenzhen South Circuit, and Tianfu Communication, and reduced his position in Zhongji Xuchuang [1][2] - The report indicates that Ren Jie remains optimistic about AI, focusing on global cloud computing investments, and notes the performance of various indices during the fourth quarter of 2025 [2] Group 2 - The AI industry is experiencing a significant leap due to the launch of new multimodal models by leading companies, showcasing unique advantages in model iteration efficiency and application capabilities [3] - The application ecosystem is transitioning from scale expansion to structural upgrades, with a focus on user segmentation, differentiated capabilities, and deeper service offerings in high-barrier verticals like healthcare and enterprise-level applications [4] - The global AI model industry is in a phase of continuous capability enhancement and expanding application scenarios, indicating strong sustainability and certainty in development [5]

Core Insights - The 2025 annual performance of AI-themed funds has drawn market attention, with significant adjustments in their holdings during the reporting period [1] - There is a divergence among fund managers regarding investment opportunities in the AI sector for 2026, despite some funds experiencing substantial net value increases due to their investments in AI application stocks [9] Fund Adjustments - The top-performing active equity funds have made considerable adjustments to their AI asset holdings, with some funds increasing their positions in leading companies while others have reduced their stakes [1][4] - For instance, the fund Yongying Technology Select increased its holdings in Dongshan Precision, Jingwang Electronics, and others, while reducing its stake in Zhongji Xuchuang [1][4] - The fund Zhongou Digital Economy has also shifted its focus, increasing investments in domestic AI and AI infrastructure while reducing exposure to smart driving and edge AI [1][6] Sector Consensus and Divergence - There is a consensus among high-performing funds regarding the PCB sector, with several funds increasing their positions in companies like Dongshan Precision and Shengxin Technology [5][6] - However, there are notable divergences in the strategies of different funds regarding specific AI sub-sectors, such as the varying approaches to Zhongji Xuchuang [4][5] Future Outlook - Fund managers are considering how to capitalize on the expanding AI market, with a focus on the potential for significant breakthroughs in AI applications and the ongoing competition in the large model sector [10][11] - Some managers emphasize the importance of balancing growth potential with safety margins, while others highlight the need for diversified investments to mitigate risks associated with high valuations in the AI sector [12]