Group 1 - The company has developed a single-channel 448G high-speed communication cable, which is currently being validated by key customers [2] - The development work was completed by the company's subsidiary, Letin Intelligent [2] - This advancement indicates the company's commitment to innovation in high-speed communication technology [2]

Core Viewpoint - The company has completed the development of a single-channel 448G high-speed communication line sample, which is currently being validated by key customers [1] Group 1 - The company's subsidiary, Letin Intelligent, is responsible for the development of the high-speed communication line [1] - The sample developed is specifically a single-channel 448G high-speed communication line [1] - The validation process is currently underway with key customers [1]

Core Viewpoint - The company has achieved mass production of its single-channel 224G high-speed communication cable, which is primarily used in data centers for terminal server manufacturers [1] Group 1 - The single-channel 224G high-speed communication cable is designed for the data center sector [1] - The company has successfully transitioned to mass production of this product [1]

Core Insights - The company has experienced significant growth in its high-speed communication cable revenue, with a year-on-year increase of over 300% in the first three quarters of 2025, driven by demand from global data centers, artificial intelligence, and high-performance computing [2][4]. Group 1: Company Performance - The company’s high-speed communication cable business is positioned upstream in the industry chain, with major direct clients including Amphenol, Molex, and Tyco, supplying to major server manufacturers like Google and Amazon [6]. - The company’s overall product gross margin for the first half of 2025 was reported at 32.45%, with plans to maintain this through innovation and cost management strategies [9]. Group 2: Equipment and Production Capacity - The company has strategically invested in advanced foam extrusion equipment to enhance production capacity, with 7 machines currently in operation and plans to increase this to over 30 by mid-next year [3]. - The production process for high-speed communication cables is complex, requiring time for mold development and technical adjustments before meeting market demand [3]. Group 3: Product Development and Innovation - The company has successfully developed a sample of the 448G single-channel high-speed communication cable, which is currently being validated by key clients [4]. - Continuous investment in R&D and product innovation is emphasized to maintain a competitive edge in the rapidly evolving technology landscape [6][8]. Group 4: Electric Vehicle Business - The company’s electric vehicle-related products have shown a compound annual growth rate of over 30% in the past three years, with its DC charging guns leading the domestic market in revenue for 2024 [7]. - The company aims to leverage its market position and product quality to capitalize on the growing demand for electric vehicle infrastructure [7]. Group 5: Electronic Materials Business - The electronic materials segment has been a core business since the company's inception, maintaining a stable development trajectory and high gross margins through optimized product structures and efficient manufacturing processes [8]. - Future strategies include expanding the application of electronic materials into high-value sectors such as aerospace and healthcare [8].

Core Viewpoint - The company has successfully achieved mass production of its single-channel 224G high-speed communication line, primarily used in data centers for terminal server manufacturers [1] - The company's subsidiary, Letin Intelligent, has completed the development of samples for a single-channel 448G high-speed communication line, which is currently being validated by key customers [1] Summary by Categories Product Development - The single-channel 224G high-speed communication line is now in mass production [1] - Letin Intelligent has developed samples for the single-channel 448G high-speed communication line [1] Market Application - The 224G communication line is targeted at terminal server manufacturers in the data center sector [1] - The 448G communication line samples are undergoing validation with key customers [1]

Core Viewpoint - The company has achieved mass production of its single-channel 224G high-speed communication cable, primarily used in data centers for terminal server manufacturers [1] Group 1 - The 224G high-speed communication cable is designed for the data center sector [1] - The company announced the mass production status on November 27 through an interactive platform [1]

Group 1 - The core viewpoint of the article highlights the growth and advancements in the company's new energy vehicle (NEV) business, which includes electric vehicle charging guns, charging stations, high-voltage wiring harnesses, high-voltage connectors, and thermal runaway protection products for power batteries, benefiting from the rapid development of the NEV industry and the company's leading position and continuous R&D innovation [2] - The company's NEV-related products have maintained a strong growth trend, with a compound annual growth rate (CAGR) exceeding 30% over the past three years [2] - The company has successfully applied its nuclear-grade (1E grade) cable accessory products in multiple domestic and international nuclear power projects, achieving a leading bid-winning rate in the industry [2] Group 2 - The company has completed the research and identification of cable accessories for nuclear power plants with an 80-year service life, filling an international gap and reaching an advanced level globally [2] - The company will comply with relevant disclosure requirements for information disclosure and encourages stakeholders to pay attention to related announcements [2]

Core Viewpoint - The company is experiencing significant growth in its new energy vehicle (NEV) business, with a compound annual growth rate (CAGR) exceeding 30% over the past three years, and anticipates continued rapid growth in 2024 and 2025 [2] Group 1: New Energy Vehicle Business - The company's NEV products include electric vehicle charging guns, charging stations, high-voltage wiring harnesses, high-voltage connectors, and thermal runaway protection products for power batteries [2] - The growth of the NEV business is attributed to the ongoing rapid development of the NEV industry, the company's leading position in the market, and continuous research and development innovations [2] Group 2: Nuclear Power Business - The company's nuclear-grade (1E grade) cable accessory products have been successfully applied in various nuclear power projects both domestically and internationally, achieving a leading bid-winning rate in the industry [2] - The company has completed the research and certification of cable accessories for nuclear power plants with an 80-year lifespan, filling an international gap and reaching an advanced level globally [2] - The company will disclose relevant information according to disclosure requirements and encourages stakeholders to pay attention to related announcements [2]

Core Insights - The company, Shenzhen Woer Heat-Shrinkable Material Co., Ltd., has experienced significant growth in its high-speed communication cable business, with revenue increasing over 300% year-on-year due to rising demand from data centers and AI applications [2] - The company is actively expanding its production capacity and has plans to increase the number of extrusion machines for imported foam core cables from 7 to over 30 by mid-2026 [2] - The company has successfully developed a 448G single-channel high-speed communication cable sample, which is currently undergoing customer validation, indicating strong technological capabilities [3] - The new energy and electronic materials segments are also performing well, with the company leading in domestic revenue for DC charging guns and maintaining high gross margins in electronic materials [4] - The company aims to maintain a healthy gross margin of 32.45% through various measures, including technological innovation and cost management [5] High-Speed Communication Cable Business - The high-speed communication cable segment has become a key growth driver for the company, with a revenue increase of over 300% in the first three quarters of 2025 compared to the previous year [2] - The company has strategically planned its production capacity to seize industry opportunities, with advanced extrusion machines being utilized for multiple cable products [2] Technological Development - The company has completed the development of a 448G high-speed communication cable sample, which is now in the customer validation phase, showcasing its commitment to technological advancement [3] - The company positions itself in the upstream segment of the data center supply chain, directly serving major connector companies and ultimately supplying to leading server manufacturers [3] New Energy and Electronic Materials - The new energy business has shown robust growth, with a compound annual growth rate exceeding 30% over the past three years, and the company ranks first in domestic revenue for DC charging guns [4] - The electronic materials segment maintains a stable development trajectory, with efforts focused on optimizing product structure and expanding into high-end applications [4] Gross Margin Management - The company reported a comprehensive gross margin of 32.45% for the first half of 2025 and plans to sustain this through innovation and efficiency measures [5] - The company anticipates continued growth in high-speed communication demand, leveraging its technological expertise and production capacity to strengthen its market position [5]

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