Declaration
The Company and all directors and senior management warrant that this prospectus contains no false records, misleading statements, or major omissions, and assume legal responsibility for its authenticity, accuracy, and completeness.
The person in charge of the Company, the person in charge of accounting work, and the person in charge of the accounting department guarantee that the financial and accounting information in this prospectus is true and complete.
Any decision or opinion made by the CSRC or the exchange regarding this issuance does not imply their guarantee of the authenticity, accuracy, or completeness of the application documents and disclosed information, nor does it constitute a substantive judgment or guarantee of the issuer's profitability, investment value, or investor returns. Any statement to the contrary is a false and untrue statement.
According to the Securities Law, after the securities are issued in accordance with the law, the issuer is solely responsible for changes in its operations and earnings.
Investors shall independently judge the investment value of the issuer, make their own investment decisions, and bear the investment risks caused by changes in the issuer's operations and earnings or fluctuations in securities prices after the securities are issued in accordance with the law.
Important Matters Notice
The Company specifically reminds investors to carefully read the full text of this prospectus before making investment decisions and to pay special attention to the following important matters.
I. Special Risk Warning
The Board of Directors of the Company specifically reminds investors to carefully read the content of "Chapter V: Risk Factors Related to This Issuance" in this prospectus and pay attention to investment risks. In particular, investors should note the following risks:
(I) Risk of Operating Performance Volatility
During the reporting period, the Company's operating income was 2,623.767 million yuan, 2,932.0911 million yuan, and 3,140.6501 million yuan, respectively; net profit attributable to the parent company was -137.211 million yuan, -87.4337 million yuan, and 27.3689 million yuan, respectively; and the gross profit margin of the main business was 9.95%, 11.17%, and 15.66%, respectively, indicating significant volatility in operating performance. As a core basic component of the electronic information industry, PCBs are widely used in network communications, consumer electronics, automotive electronics, medical equipment, security, and industrial control, and their industry development is closely related to the macroeconomic climate.
If global economic recovery slows down, resident consumption and downstream capital expenditures weaken, or if there are unfavorable factors such as industrial policy adjustments, intensified industry competition, fluctuations in major raw material prices, and escalating international trade frictions, the Company may face pressure on orders and selling prices, rigid increases in costs, and a shift in revenue structure toward lower-end products, which could lead to fluctuations in gross profit margin and the risk of interrupted or declining profit recovery.
(II) Risk of New Capacity Digestion After Project Completion and Commissioning
Currently, there are many manufacturers in the PCB industry, and market competition is full and increasingly fierce, with white-hot price competition. At the same time, industrial policies are accelerating the clearance of inefficient capacity, leading to industry differentiation and intensified competition among leading players. Against this background, companies in the same industry are generally seizing opportunities to actively expand production, facing the pressure of supply-demand mismatch caused by the concentrated release of capacity in the short term.