Thailand Tech Tour: Delton (001389.SZ): AI PCB in expansion; Utilization rate and profitability ramping up

Research evidence excerpt

Thailand Tech Tour: Delton (001389.SZ): AI PCB in expansion; Utilization rate and profitability ramping up

statement histories, forecasts and ratios. It can be used for

in-depth analysis of a single company, or to make comparisons between companies in different sectors and markets.

Disclosures

Rating and pricing information

Shengyi Tech (Buy, Rmb157.40), Shennan Circuits (Buy, Rmb442.56), Victory Giant (Buy, Rmb296.70) and WUS (Buy, Rmb137.30)

Company-specific regulatory disclosures

The following disclosures relate to relationships between The Goldman Sachs Group, Inc. (with its affiliates, “Goldman Sachs”) and companies covered

by Goldman Sachs Global Investment Research and referred to in this research.

There are no company-specific disclosures for: Delton Technology (Rmb183.32)

Distribution of ratings/investment banking relationships

Goldman Sachs Investment Research global Equity coverage universe

Rating Distribution Investment Banking Relationships

Buy Hold Sell Buy Hold Sell

Global 50% 34% 16% 65% 60% 45%

As of April 1, 2026, Goldman Sachs Global Investment Research had investment ratings on 3,074 equity securities. Goldman Sachs assigns stocks as

Buys and Sells on various regional Investment Lists; stocks not so assigned are deemed Neutral. Such assignments equate to Buy, Hold and Sell for the

purposes of the above disclosure required by the FINRA Rules. See ‘Ratings, Coverage universe and related definitions’ below. The Investment Banking

Relationships chart reflects the percentage of subject companies within each rating category for whom Goldman Sachs has provided investment

banking services within the previous twelve months.

Regulatory disclosures

Disclosures required by United States laws and regulations