港股概念追踪|胜宏科技业绩超预期验证了“绑定头部客户+卡位高端技术”的商业逻辑 PCB国产替代加速度（附概念股）

智通财经2025-03-11

胜宏科技一季度净利润中值8.8亿元，同比激增319%，这一数字背后暗藏三重逻辑：AI订单占比突破60%：公司AI服务器PCB（含英伟达GB200配套产品）单季交付额超20亿元，其中高多层板（24-40层）和HDI板占比达75%。这类产品毛利率高达35%-40%，远超传统PCB的20%-25%。稼动率与良率双升：公司HDI板产线稼动率从2024年的80%提升至95%，良率突破85%（行业平均70%）...

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