证券日报网讯 立讯精密（002475）11月26日发布公告，在公司回答调研者提问时表示，从目前的情况 来看，公司不会主动去争取整机柜的方案，这里面涉及多方面的因素，包括公司自身资源的安排和优先 级等。但这并不代表公司拒绝这个市场，如果客户愿意把机会给公司，公司也不会回避。只是从主动出 击的角度，在未来一段时间内，公司暂时不会把整机柜方案作为重点去推动。 ...

Core Viewpoint - Lixun Precision (002475) emphasizes its leadership in developing signal sources for electrical connections, distinguishing itself from competitors in optical connections, and highlights its comprehensive capabilities in power supply and thermal management solutions [1] Group 1: Electrical Connections - The company leads the development of signal sources for both active and passive electrical connections, which is technically more advanced than optical connections [1] - Lixun Precision is one of the few companies globally capable of producing electrical connections, optical connections, power supplies, and thermal management solutions simultaneously, providing greater flexibility and synergy in problem-solving [1] Group 2: Power Supply and Thermal Management - Recent discussions among high-level clients have focused on power supply and thermal management, reflecting historical planning for future computing power growth [1] - The company has achieved zero defect rates in millions of batches for low-voltage power supply modules, showcasing its advanced smart manufacturing capabilities [1] - The reliability of power supplies is critical for AI computing power, as any issues are quickly detected, which underscores the importance of the company's organizational and investment strategies [1]

Core Viewpoint - Lixun Precision (002475) announced that its long-term cooperation model with key clients allows for stability in demand despite fluctuations in storage chip prices [1] Group 1: Business Model - The company has established long-term locking agreements with top clients for high-end and mid-to-high-end product lines, typically lasting two to three years [1] - As a B2B supplier, the company cannot absorb costs arising from fluctuations in raw material prices, exchange rates, or other macroeconomic factors [1] Group 2: Client Demand - The company has observed that its key clients have not indicated a need to reduce production capacity for the second half of the year due to rising storage chip prices, suggesting their ability to secure orders [1]

证券日报网讯立讯精密（002475）11月26日发布公告，在公司回答调研者提问时表示，关于NPO技术路 线，公司认为它只是众多技术路线中的一种，并且从公司个人的技术观点来看，NPO最不可能成为大量 应用的主流技术路线。它可能仅作为CPO(Co-packagedOptics)的一个过渡版本，在少量实验性场景中使 用。公司坚信CPO才是未来主流的场景。即使NPO能够实现量产，其在全场景中的应用比例也不会超过 10%。公司团队一直与湾区的AI算力客户(CSP)技术专家进行密切的交叉学习和验证，以确保公司在整 个技术路线判断上不出现偏差。公司对团队在市场发展趋势判断上的客观性非常有信心。 ...

（文章来源：证券日报） 证券日报网讯立讯精密11月26日发布公告，在公司回答调研者提问时表示，公司更注重利润导向，营收 的增长最终是为了利润。利润率才是公司真正关注的指标。 ...

（文章来源：证券日报） 证券日报网讯立讯精密11月26日发布公告，在公司回答调研者提问时表示，公司始终致力于市场分析， 优先选择价值最高、资源匹配度最佳的客户，并深知任何新产品都需要经历严谨的验证过程。对于产 能，公司从未有过担忧。在新的业务领域，公司一定会根据实际需求匹配相应的资源。 ...

Core Insights - The company, Luxshare Precision, has outlined three primary collaboration models that enhance its competitive edge in the electrical connection sector [1] Group 1: Collaboration Models - The first model involves early-stage collaboration with overseas chip manufacturers, such as Broadcom and Marvell, where the company's design solutions are integrated with chip prototypes for joint debugging and simulation [1] - The second model highlights the company's strong performance record with major overseas clients, positioning it as a critical partner for urgent solutions when these clients face challenges [1] - The third model focuses on proactive technological advancements, such as microchannel cooling and diamond-copper technology, which the company began developing over two years ago, positioning it as a key supplier in a niche market [1]

证券日报网讯 立讯精密11月26日发布公告，在公司回答调研者提问时表示，AI算力平台带来的巨大机 遇是在最近24个月内涌现的。立讯在竞争激烈的消费电子供应链中生存并发展壮大，深知其中的挑战。 公司也看到，许多优秀的大客户正在积极吸引供应链人才，这不仅仅是成本问题，更是基于交付的稳定 性和效率的考量。因此，公司认为未来的供应链格局将与现在大不相同。公司在设定目标时，会深入分 析客户的痛点，思考如何解决他们当前和未来的需求。公司也会研究赛道上友商的优势，不仅要拥有他 们所具备的能力，更要寻求超越。这是公司从消费电子时代至今一贯的方法论。公司做事情的方法论， 无论是从市场、技术、工艺还是材料层面，都力求实现"拆无可拆"，即深入分析客户和竞争对手的每一 个环节，理解他们为何能做到，以及公司如何做得更好。 （编辑 丛可心 王雪儿） ...

Core Viewpoint - Lixun Precision announced its focus on AI hardware infrastructure, particularly in core components and modules for computing power [1] Group 1: AI Hardware Focus - The company is primarily concentrating on the infrastructure aspect of AI hardware, especially the core components and modules related to computing power [1] - Lixun Precision will also provide complete cabinets equipped with interconnectivity, power supply, and thermal management environments, allowing clients to match their own computing and network nodes [1] Group 2: Profit Margin Strategy - The company aims to achieve better profit margins on AI-related products [1] - There is a clear direction for the ongoing development of related business in the AI sector [1]

Core Insights - Lixun Precision announced on November 26 that both traditional hardware brand clients and domestic and international large model software companies are actively exploring the integration of AI with hardware [1] - Currently, there is no single product form that perfectly matches AGI, but glasses and headphones are considered the closest hardware products to serve as AI carriers due to their wearable nature [1] - Many clients are making new attempts in these two product categories, with various forms of products expected to be launched next year [1] - The final product form is still in the exploratory stage and is closely related to the development cycle of AI technology [1] - AI capabilities may currently match specific hardware forms, but as AI enters a new development cycle in the next 3-5 years, hardware forms may also change [1] - It is still too early to determine which hardware form will become the final shape for AI [1] - The company anticipates significant transformation and explosive growth in AI hardware between 2026 and 2027 [1] - The success of AI hardware products is believed to hinge on their usability anytime and anywhere without burdening users, while also ensuring privacy [1]