瑞财经 王敏 1月1日，港交所文件显示，深圳市景旺电子股份有限公司（以下简称"景旺电子"）向港交所提交上市申请书，联席保荐 人为中信证券、美银证券、国联证券国际。 据悉，景旺电子于2017年1月6日在A股上市，截至12月31日收市，其总市值约751.85亿元。 招股书显示，景旺电子是以技术创新为驱动、以产品布局全面为特色的PCB产品制造商。公司的PCB产品为汽车电子、通信与数据基 础设施、智能终端、工业控制等领域的全球客户提供智能互联基础。 根据灼识咨询的资料，以2024年度收入计算，景旺电子是全球第一大汽车电子PCB供应商，全球前十大Tier1汽车供应商中有七家是公 司的客户，公司的PCB产品已广泛应用于全球前十大汽车集团的汽车产品中。 2025年前9个月，景旺电子收入同比增长22%，净利润同比增长7.25%。 于2023年、2024年以及截至2025年9月30日止九个月，景旺电子的销售及营销开支分别为1.921亿元、2.456亿元及2.016亿元，分别占同 期总收入的1.8%、1.9%、1.7%及1.8%。两年多销售及营销开支合计6.39亿元。 截至2025年12月26日，景鸿永泰、智创投资、奕兆投资、刘 ...

Group 1 - Yanjiang Co. plans to acquire control of Ningbo Yongqiang Technology Co., Ltd. through a combination of share issuance and cash payment, leading to a potential major asset restructuring [2] - Fangda Carbon has decided to terminate its participation in the substantial merger and restructuring of Shanshan Group due to insufficient due diligence and alignment with its strategic planning [3] - Tongling Nonferrous Metals announced a delay in the second phase of the Mirador copper mine project, which is expected to impact the company's operating performance in 2026 [4] Group 2 - Zhongkuang Resources has commenced trial production of its 30,000 tons per year high-purity lithium salt project, enhancing its competitive edge in the lithium salt business [5] - China Nuclear Power's Fujian Zhangzhou Nuclear Power Plant Unit 2 has completed a 168-hour full-power continuous operation assessment and is ready for commercial operation, increasing the company's operational nuclear units to 27 [6] - Guoxin Technology successfully tested its new neural network processor DPNPU, aimed at high-performance AI processing, although it is still in the early market introduction phase [7] Group 3 - Zhongjian Technology is set to initiate a collaborative development project in the field of intelligent robotics, focusing on applications and product line definitions [8] - Mengwang Technology signed a cooperation agreement worth 60 million yuan with Jiangxi Shenzhou Liuhe for the development and production of heavy-duty drone products [9] - Shengyi Technology has signed an investment intention agreement for a high-performance copper-clad laminate project, with an estimated investment of 4.5 billion yuan [10] Group 4 - Longpan Technology plans to invest 2 billion yuan in a high-performance lithium battery cathode material project, with a production capacity of 240,000 tons [11] - Tianlong Co. intends to acquire a 54.87% stake in Suzhou Haomibo Technology Co., Ltd. for 232 million yuan, expanding its presence in the sensor development field [12] - Shengyang Co. plans to acquire a 51% stake in Shenzhen Daren High-Tech Co., Ltd. for approximately 74.47 million yuan, enhancing its lithium battery management system capabilities [13] Group 5 - Jincai Hulin intends to acquire a 51% stake in Wuxi Sanli Robot Technology Co., Ltd. for 63.43 million yuan, extending its technology into the robot component manufacturing sector [14] - Jingwang Electronics has submitted an application for H-share listing on the Hong Kong Stock Exchange [15] - ST Yigou's restructuring plan has been approved by the court, allowing for the continuation of its operations [16] Group 6 - Guoguang Electric announced the lifting of restrictions on its general manager, who has returned to normal duties [17] - Fenghuang Shipping reported that its actual controller has been released from monitoring measures, with no significant impact on the company's operations [18] Group 7 - Longjian Co. reported a net profit of 405 million yuan for 2025, a decrease of 2.05% year-on-year [20] - Bailong Oriental expects a net profit increase of 46.34% to 70.73% for 2025, estimating between 600 million to 700 million yuan [21] - BYD's cumulative sales of new energy vehicles reached 4.602 million units in 2025, a year-on-year increase of 7.73% [22] Group 8 - Changan Automobile reported cumulative sales of 2.913 million vehicles in 2025, with total revenue of approximately 286 billion yuan [23] - Beiqi Blue Valley's subsidiary achieved a cumulative vehicle sales increase of 84.06% in 2025 [24] - ST Tianshan reported significant year-on-year increases in live livestock sales and revenue for December 2025 [25] Group 9 - Hunan Baiyin's shareholder reduced its stake to below 5%, with no significant impact on the company's governance structure [27] - Century Huatong plans to repurchase shares worth between 300 million to 600 million yuan [29] - Dongcheng Pharmaceutical intends to repurchase shares for an amount between 100 million to 200 million yuan [30] Group 10 - Guizhou Moutai has repurchased 87,059 shares for a total of 120 million yuan [31] - Ningde Times has repurchased 15.99 million A-shares for a total of 4.386 billion yuan [33]

Core Viewpoint - Jingwang Electronics has officially submitted its prospectus to the Hong Kong Stock Exchange, marking the start of its A+H capital platform construction, coinciding with the booming PCB industry and the company's expansion into overseas markets [1][2][3]. Company Overview - Jingwang Electronics is the world's largest automotive electronic PCB supplier and has been deeply involved in the PCB sector for 33 years [2][3]. - The company has maintained an overseas revenue share of around 40%, with major clients including top automotive suppliers and leading AI computing companies [2][4]. Expansion Plans - To meet the increasing demand from overseas clients, Jingwang Electronics began constructing a factory in Thailand in 2023, which is expected to commence production in early 2026 [2][3]. - The funds raised from the Hong Kong listing will primarily be used to expand and upgrade production capacity, including the construction of a second phase in Thailand [3][5]. Industry Trends - The PCB industry is experiencing a significant surge in interest due to the explosive growth in AI computing and electric vehicles, with the PCB index price increasing by 144% over the year [4]. - The high-end PCB market concentration ratio (CR10) has risen from 25% in 2020 to 30% in 2024, indicating a shift towards larger players like Jingwang Electronics as smaller firms exit the market [4][5]. Financial Performance - Jingwang Electronics has reported continuous revenue growth over the past three years, with revenues of 12.659 billion and 11.083 billion yuan for the first three quarters of 2024 and 2025, respectively, reflecting year-on-year growth of 17.68% and 22.08% [4]. - The automotive electronics segment generated 5.066 billion yuan in revenue during the first three quarters of 2025, marking a year-on-year increase of 22.72% [4]. Market Outlook - The market for data infrastructure PCBs and automotive electronic PCBs is projected to grow significantly, with expected increases from $12.5 billion and $9.2 billion in 2024 to $23 billion and $12.2 billion by 2030, respectively [5]. - The industry is witnessing a capacity expansion race, with multiple PCB companies, including Jingwang Electronics, investing heavily in new facilities and upgrades to meet rising demand [5].

格隆汇1月4日丨景旺电子(603228.SH)公布，公司已于2026年1月1日向香港联合交易所有限公司（简 称"香港联交所"）递交了发行H股股票并在香港联交所主板挂牌上市的申请，并于同日在香港联交所网 站刊登了本次发行上市的申请资料。该申请资料为公司按照香港证券及期货事务监察委员会（简称"香 港证监会"）及香港联交所的要求编制和刊发，为草拟版本，其所载资料可能会适时作出更新及修订， 投资者不应根据其中的资料作出任何投资决定。 ...

格隆汇1月4日丨景旺电子(603228.SH)公布，公司已于2026年1月1日向香港联合交易所有限公司（简 称"香港联交所"）递交了发行H股股票并在香港联交所主板挂牌上市的申请，并于同日在香港联交所网 站刊登了本次发行上市的申请资料。该申请资料为公司按照香港证券及期货事务监察委员会（简称"香 港证监会"）及香港联交所的要求编制和刊发，为草拟版本，其所载资料可能会适时作出更新及修订， 投资者不应根据其中的资料作出任何投资决定。 ...

景旺电子公告，公司已于2026年1月1日向香港联合交易所有限公司递交了发行H股股票并在香港联交所 主板挂牌上市的申请，并于同日在香港联交所网站刊登了本次发行上市的申请资料。 （文章来源：第一财经） ...

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。 证券代码：603228 证券简称：景旺电子 公告编号：2026-001 深圳市景旺电子股份有限公司 关于向香港联交所递交 H 股发行上市的申请并刊发 申请资料的公告 深圳市景旺电子股份有限公司（以下简称"公司"）已于 2026 年 1 月 1 日向 香港联合交易所有限公司（以下简称"香港联交所"）递交了发行 H 股股票并在 香港联交所主板挂牌上市（以下简称"本次发行上市"）的申请，并于同日在香 港联交所网站刊登了本次发行上市的申请资料。该申请资料为公司按照香港证券 及期货事务监察委员会（以下简称"香港证监会"）及香港联交所的要求编制和 刊发，为草拟版本，其所载资料可能会适时作出更新及修订，投资者不应根据其 中的资料作出任何投资决定。 需要特别予以说明的是，本公告仅为境内投资者及时了解本次发行上市的相 关信息而作出。本公告以及本公司刊登于香港联交所网站的申请资料均不构成也 不得视作对任何个人或实体收购、购买或认购公司本次发行上市的 H 股的要约 或要约邀请。 公司本次发行上市尚需取 ...

Core Insights - The PCB drill needle industry is experiencing growth driven by increasing demand in various applications such as consumer electronics, artificial intelligence, and new energy vehicles, with a projected global market size of 4.5 billion yuan in 2024, growing by 15.4% year-on-year [8][11] - China is a key player in the global PCB industry, with a projected market value of 41.213 billion USD in 2024, accounting for 56% of the global total, and expected to grow to 43.73 billion USD in 2025 [8][12] - The industry is undergoing consolidation and technological upgrades, with the top three companies holding a market share of 60.5% by mid-2025, indicating increasing concentration in the market [11][12] PCB Drill Needle Industry Overview - PCB drill needles are essential tools for creating holes in printed circuit boards, facilitating connections between electronic components [2][5] - The industry chain includes upstream raw materials like tungsten carbide powder and cobalt powder, midstream manufacturing, and downstream applications in sectors such as automotive, medical, and industrial [5][6] Market Size and Growth - The global PCB drill needle market is expected to reach 6.2 billion yuan by 2025, with a significant year-on-year growth of 37.8% [8][11] - In China, the PCB drill needle market is projected to grow from 2.521 billion yuan in 2024 to 3.451 billion yuan in 2025, reflecting an 18.9% increase [10][11] Industry Structure - The global PCB drill needle market is dominated by Taiwanese and Japanese companies, with local Chinese firms like Ding Tai High-Tech and Jin Zhou Precision Technology leading with market shares of 28.9% and 20.8%, respectively [12] - The industry is characterized by strong customer loyalty, as PCB manufacturers prefer to establish long-term partnerships with reliable and technologically advanced suppliers [11][12] Development Trends - There is an increasing demand for high-precision and high-performance drill needles due to the evolving requirements of downstream industries [13] - The shift towards high-frequency and composite materials in PCB substrates is driving innovation in drill needle materials and processes [14] - The trend of domestic substitution and global expansion is evident, with Chinese companies enhancing their competitiveness and exploring overseas markets [14]

智通财经获悉，据港交所1月1日披露，深圳市景旺电子股份有限公司(简称：景旺电子)向港交所主板递 交上市申请，中信证券、美银证券、国联证券国际为其联席保荐人。 公司简介 招股书显示，景旺电子(603228.SH)是以技术创新为驱动、以产品布局全面为特色的PCB产品制造商。 公司的PCB产品为汽车电子、通信与数据基础设施、智能终端、工业控制等领域的全球客户提供智能互 联基础。 公司在汽车电子PCB领域占据领先地位，并战略性重点佈局AI计算领域，形成了「1+1+N」的业务模 式，即1个支柱型业务(汽车电子)(「1」)、 1个重点发展业务(通信与数据基础设施)(「1」)和 N个高潜力 业务组合(涵盖智能终端、工业控制等)(「 N」)。 汽车电子是公司的支柱型业务领域，公司的汽车电子PCB产品广泛应用于ADAS、信息娱乐系统、车身 电子系统、电池管理系统、照明系统及充电配电系统等领域。 根据灼识咨询的资料，以2024年度收入计算，公司是全球第一大汽车电子PCB供应商，全球前十大Tier 1汽车供应商中有七家是公司的客户，公司的PCB产品已广泛应用于全球前十大汽车集团的汽车产品 中。 公司的PCB产品深度赋能汽车智能化和 ...

智通财经APP获悉，据港交所1月1日披露，深圳市景旺电子股份有限公司(简称：景旺电子)向港交所主板递交上市申 请，中信证券、美银证券、国联证券国际为其联席保荐人。 公司简介 招股书显示，景旺电子(603228.SH)是以技术创新为驱动、以产品布局全面为特色的PCB产品制造商。公司的PCB产品为 汽车电子、通信与数据基础设施、智能终端、工业控制等领域的全球客户提供智能互联基础。 公司在汽车电子PCB领域占据领先地位，并战略性重点佈局AI计算领域，形成了「1+1+N」的业务模式，即1个支柱型业 务(汽车电子)(「1」)、 1个重点发展业务(通信与数据基础设施)(「1」)和 N个高潜力业务组合(涵盖智能终端、工业控制 等)(「 N」)。 汽车电子是公司的支柱型业务领域，公司的汽车电子PCB产品广泛应用于ADAS、信息娱乐系统、车身电子系统、电池 管理系统、照明系统及充电配电系统等领域。 根据灼识咨询的资料，以2024年度收入计算，公司是全球第一大汽车电子PCB供应商，全球前十大Tier 1汽车供应商中有 七家是公司的客户，公司的PCB产品已广泛应用于全球前十大汽车集团的汽车产品中。 公司的PCB产品深度赋能汽车智能 ...