Group 1 - The component sector increased by 2.02% on December 29, with Bomin Electronics leading the gains [1] - The Shanghai Composite Index closed at 3965.28, up 0.04%, while the Shenzhen Component Index closed at 13537.1, down 0.49% [1] - Key stocks in the component sector showed significant price increases, with Bomin Electronics rising by 10.03% to a closing price of 12.95 [1] Group 2 - The component sector saw a net inflow of 1.036 billion yuan from main funds, while retail investors experienced a net outflow of 406 million yuan [2] - The trading volume for Bomin Electronics reached 1.0203 million shares, contributing to a total transaction value of 1.301 billion yuan [1] - Other notable stocks included Huadian Co., which rose by 6.91% with a closing price of 76.74, and Jiangwang Electronics, which increased by 4.43% to 76.83 [1]

Market Overview - The component sector experienced a decline of 0.31% on December 26, with Jingwang Electronics leading the drop [1] - The Shanghai Composite Index closed at 3963.68, up 0.1%, while the Shenzhen Component Index closed at 13603.89, up 0.54% [1] Top Performers - Nanya New Materials (688519) saw a significant increase of 13.59%, closing at 81.39 with a trading volume of 133,600 shares and a transaction value of 1.069 billion [1] - Shiyun Circuit (603920) rose by 5.57%, closing at 46.25 with a trading volume of 470,200 shares and a transaction value of 2.134 billion [1] - Shengyi Technology (600183) increased by 5.40%, closing at 74.50 with a trading volume of 561,800 shares and a transaction value of 4.045 billion [1] Underperformers - Jingwang Electronics (603228) declined by 4.27%, closing at 73.57 with a trading volume of 327,600 shares and a transaction value of 2.421 billion [2] - Tongfeng Electronics (600237) fell by 3.97%, closing at 9.20 with a trading volume of 708,000 shares and a transaction value of 659 million [2] - Tianjin Yinlin (002134) decreased by 3.43%, closing at 25.59 with a trading volume of 191,900 shares and a transaction value of 496 million [2] Capital Flow - The component sector saw a net outflow of 1.139 billion from main funds, while retail investors contributed a net inflow of 1.054 billion [2] - Major stocks like Shengyi Technology and Xingsen Technology experienced significant net inflows from retail investors, indicating strong interest despite overall sector outflows [3] Individual Stock Analysis - Shengyi Technology (600183) had a main fund net inflow of 334 million, accounting for 8.26% of its trading volume, while retail investors showed a net outflow of 121 million [3] - Xingsen Technology (002436) reported a main fund net inflow of 252 million, with retail investors experiencing a net outflow of 180 million [3] - Jingwang Electronics (603228) had a main fund net inflow of 174 million, but retail investors faced a net outflow of 150 million [3]

Group 1 - The CPO concept stocks in the A-share market have declined, with notable drops in several companies [1] - Robotech has fallen over 6%, while Lantech and Shijia Photon have decreased by more than 5% [1] - Dekoli has dropped nearly 5%, and other companies like Changxin Bochuang, Jingwang Electronics, Juguang Technology, and Huamao Technology have seen declines of over 3% [1]

Group 1 - The PCB sector has achieved significant excess returns driven by AI demand and technological upgrades from major companies like Nvidia, Amazon, and Google, with a year-to-date increase of 150%, leading the electronic sub-sector [3][22] - In 2026, AI demand for PCB is expected to continue growing rapidly, with supply tightness persisting, particularly in high-end HDI and multilayer boards, as well as in domestic high-end substrate breakthroughs [3][6] - The overall PCB market is projected to grow from $849 billion in 2025 to between $940 billion and $980 billion in 2026, reflecting a robust growth trajectory [6][12] Group 2 - The PCB industry is currently in an expansion phase, with strong downstream AI computing demand, despite anticipated weakness in mobile and automotive sectors in 2026 [5][12] - Inventory levels in Taiwan and mainland China have shown an upward trend, indicating increased stocking by downstream manufacturers due to strong AI demand [5][6] - The overall capacity utilization rate for PCB manufacturers in the second half of 2025 is between 93% and 97%, with optimistic order visibility extending beyond three months for leading manufacturers [6][12] Group 3 - The demand for high-end HDI and multilayer boards is rapidly increasing, with supply constraints and accelerated capacity expansion expected to benefit manufacturers with advanced technology [7][12] - The AI-driven trend is pushing for upgrades in PCB specifications, particularly in consumer electronics and automotive sectors, with a focus on innovations from companies like Apple and OpenAI [8][12] - The market for high-speed CCL is anticipated to grow significantly, with projections of around $8 billion in 2026 and a CAGR of 40% from 2024 to 2027 [9][12] Group 4 - The upstream materials for CCL, including copper foil, resin, and fiberglass cloth, are experiencing significant upgrades and supply tightness, driven by AI demand [10][12] - The equipment sector is expected to benefit from the expansion of PCB production, with high demand for advanced equipment driving rapid growth for domestic manufacturers [11][12] - The overall investment strategy for 2026 suggests focusing on sectors like computing boards, CCL, upstream materials, and domestic equipment manufacturers, as the AI-driven innovation cycle is expected to last longer and create broader market demand [12][12]

Core Viewpoint - The company, Shenzhen Jingwang Electronics Co., Ltd., held its third extraordinary general meeting of shareholders in 2025, where several key resolutions regarding the issuance of H-shares and related corporate governance matters were approved [1][2]. Meeting Details - The meeting was held on December 25, 2025, at the company's headquarters in Shenzhen [2]. - The meeting was chaired by the company's chairman, Liu Shaobai, and utilized a combination of on-site and online voting methods [2][3]. Attendance - Out of 9 current directors, 5 attended the meeting, while some non-independent directors were absent due to work commitments [3]. - The company secretary and several senior management personnel were present at the meeting [3]. Resolutions Reviewed - The following key resolutions were passed: - Approval for the company to issue H-shares and list on the Main Board of the Hong Kong Stock Exchange [4]. - Approval of the issuance plan, including details on the type and face value of the shares, issuance timing, and pricing methods [5]. - Approval for the company to transition to an overseas fundraising joint-stock company [6]. - Authorization for the board of directors to handle matters related to the H-share issuance [6]. - Approval of the profit distribution plan prior to the H-share issuance [7]. - Approval of amendments to the company's articles of association and related governance rules to align with the H-share issuance [7][8]. Legal Verification - The meeting was witnessed by Beijing Guantao (Shenzhen) Law Firm, confirming that the meeting's procedures complied with relevant laws and regulations [9]. Documentation - The resolutions and legal opinions from the meeting will be available for review [10].

证券代码：603228 证券简称：景旺电子 公告编号：2025-133 深圳市景旺电子股份有限公司 2025年第三次临时股东会决议公告 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： 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东会召开的时间：2025 年 12 月 25 日 (二)股东会召开的地点：深圳市光明区凤凰街道东坑社区光源三路 158 号景旺电 子大厦会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 802 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 666,001,661 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 67.6272 | (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 二、议案审议情况 (一)非累积投票议案 1、 议案名称：《关于公司发行 H 股股票并在香港联合交易所有限公司主板上市 ...

北京观韬（深圳）律师事务所 关于深圳市景旺电子股份有限公司 2025年第三次临时股东会的法律意见书 观意字2025SZ000092号 致：深圳市景旺电子股份有限公司 北京观韬（深圳）律师事务所（以下简称"本所"）接受深圳市景旺电子股 份有限公司（以下简称"景旺电子"或"公司"）的委托，指派律师列席景旺电 子于2025年12月25日召开的2025年第三次临时股东会（以下简称"本次股东会"）， 并依据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共 和国证券法》、中国证券监督管理委员会《上市公司股东会规则》（以下简称"《股 东会规则》"）等中国现行法律、法规和规范性文件以及《深圳市景旺电子股份 有限公司章程》（以下简称"《公司章程》"）、《深圳市景旺电子股份有限公 司股东会议事规则》（以下简称"《议事规则》"）的有关规定，就本次股东会 的召集和召开程序、出席会议人员资格、表决程序、表决结果等事项进行见证， 并出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的有关本次股东会的文件， 听取了公司就有关事实的陈述和说明，列席了本次股东会。公司承诺其所提供的 文件和所作的陈述和说明是完整、真 ...

Market Performance - The component sector increased by 4.81% compared to the previous trading day, with Nanya Technology leading the gains [1] - The Shanghai Composite Index closed at 3917.36, up 0.69%, while the Shenzhen Component Index closed at 13332.73, up 1.47% [1] Top Gainers in the Component Sector - Nanya Technology (Code: 6158889) closed at 65.65, up 9.84% with a trading volume of 78,800 shares and a transaction value of 502 million [1] - Jingwang Electronics (Code: 603228) closed at 72.87, up 8.86% with a trading volume of 476,000 shares and a transaction value of 3.396 billion [1] - Mingyang Circuit (Code: 300739) closed at 18.11, up 8.70% with a trading volume of 420,100 shares and a transaction value of 751 million [1] - Shengyi Technology (Code: 600183) closed at 65.57, up 8.51% with a trading volume of 510,200 shares and a transaction value of 3.269 billion [1] - Dongshan Precision (Code: 002384) closed at 81.82, up 8.20% with a trading volume of 606,100 shares and a transaction value of 4.878 billion [1] Market Capital Flow - The component sector saw a net inflow of 2.45 billion from major funds, while retail investors experienced a net outflow of 1.027 billion [2] - Major funds showed a significant interest in stocks like Huadian Technology (Code: 002463) and Shengyi Technology (Code: 600183), with net inflows of 464.1 million and 425 million respectively [3] - Retail investors showed a net outflow in several stocks, indicating a cautious sentiment among smaller investors [3]

Group 1 - The CPO concept stocks in the A-share market continue to perform strongly, with notable gains from several companies [1] - Changxin Bochuang saw an increase of over 13%, while Hengtong Optic-Electric and Changfei Optical Fiber hit the 10% limit up, and Zhongtian Technology rose over 7% [1] - New Yisheng and Fenghuo Communication both increased by over 6%, with several other companies also showing significant gains [1] Group 2 - Changfei Optical Fiber and New Yisheng reached historical highs [1] - The following companies reported their market performance: - Changxin Bochuang: 13.70% increase, market cap of 46.2 billion, YTD increase of 241.58% [2] - Hengtong Optic-Electric: 10.02% increase, market cap of 64.5 billion, YTD increase of 54.12% [2] - Changfei Optical Fiber: 10.00% increase, market cap of 105.2 billion, YTD increase of 326.84% [2] - Zhongtian Technology: 7.13% increase, market cap of 67.2 billion, YTD increase of 40.37% [2] - New Yisheng: 6.23% increase, market cap of 458.6 billion, YTD increase of 461.11% [2] - Fenghuo Communication: 6.16% increase, market cap of 39.8 billion, YTD increase of 51.81% [2] - Yongding Co.: 5.59% increase, market cap of 31.2 billion, YTD increase of 333.63% [2] - Huagong Technology: 5.64% increase, market cap of 79.7 billion, YTD increase of 83.82% [2] - Jingwang Electronics: 5.39% increase, market cap of 69.5 billion, YTD increase of 159.66% [2] - Zhongji Xiangchuang: 5.32% increase, market cap of 669 billion, YTD increase of 389.95% [2] - The MACD golden cross signal has formed, indicating a positive trend for these stocks [1]

Group 1 - The core viewpoint of the articles highlights the performance of the CSI 500 Quality Growth Index and its constituent stocks, indicating a positive trend in the market with a 0.81% increase as of December 22, 2025 [1] - The CSI 500 Quality Growth ETF (560500) has shown a recent increase of 0.85%, with significant trading activity, averaging daily transactions of 8.55 million yuan over the past week [1] - The report from Galaxy Securities notes a "super central bank week," with mixed monetary policy actions from major global central banks, leading to increased volatility in capital markets, including A-shares [1] Group 2 - The A-share market is entering a critical window for cross-year layout, with expectations for structural opportunities driven by policy guidance and industry prosperity, particularly in early 2026 [2] - The CSI 500 Quality Growth Index closely tracks 100 high-profitability, sustainable, and cash-rich companies, providing diverse investment options for investors [2] - As of November 28, 2025, the top ten weighted stocks in the CSI 500 Quality Growth Index account for 21.53% of the index, with notable companies including Huagong Technology and Kaiying Network [2]