Core Viewpoint - Chongda Technology (002815) is making steady progress in expanding its AI computing power client base and has initiated factory construction in Thailand to enhance global supply capabilities [1] Group 1: Company Developments - The company is advancing according to plan in the development of AI computing power for major clients [1] - A factory has been launched in Thailand to strengthen global supply capabilities [1] - The company is continuously collaborating with clients for preliminary research and trial production of new platforms [1] Group 2: Market Position and Strategy - Chongda Technology possesses advanced technical strength in the AI server PCB sector [1] - Market expansion in this area is a strategic priority for the company [1] - Specific client progress details are not disclosed due to adherence to commercial confidentiality principles [1]

Core Viewpoint - The company is successfully advancing its efforts to develop AI computing power clients as planned, with ongoing factory construction in Thailand to enhance global supply capabilities [1] Group 1: Company Developments - The company has initiated factory construction in Thailand to strengthen its global supply capacity [1] - The company is actively collaborating with clients on the research and trial production of new platforms [1] - The company possesses advanced technical capabilities in the AI server PCB sector, which is a strategic focus for market expansion [1] Group 2: Client Engagement - Specific client progress details are not disclosed due to adherence to commercial confidentiality principles [1]

Group 1 - The company, Chongda Technology, expressed a cautiously optimistic outlook for future performance recovery due to strong current order demand and steady capacity release [1] - The company is committed to enhancing operational performance and shareholder value [1]

Core Viewpoint - Chongda Technology reported a decrease in the number of shareholders and a decline in stock price, despite a year-on-year increase in revenue for the first half of the year [2] Group 1: Shareholder Information - As of September 30, the number of shareholders for Chongda Technology was 74,291, a decrease of 9,801 from the previous period (September 20), representing a decline of 11.66% [2] Group 2: Stock Performance - The closing price of Chongda Technology was 15.05 yuan, down 0.27%, with a cumulative decline of 10.42% since the concentration of shares began, showing 2 days of increase and 6 days of decrease in stock price [2] Group 3: Financial Performance - For the first half of the year, Chongda Technology achieved operating revenue of 3.533 billion yuan, a year-on-year increase of 20.73%, while net profit was 222 million yuan, a year-on-year decrease of 6.19%, with basic earnings per share at 0.2000 yuan and a weighted average return on equity of 3.05% [2]

Core Insights - The HDI board market is experiencing significant growth driven by global digital transformation and the trend towards electric and intelligent vehicles. China, as a major manufacturing and consumption market, is seeing rapid development in the HDI board industry, with a projected market size of 45.568 billion yuan in 2024, reflecting a year-on-year increase of 16.5% [1][6]. - The market is expected to continue expanding, reaching 50.908 billion yuan by 2025, with an 11.7% year-on-year growth [1][6]. Industry Overview - HDI boards, or High-Density Interconnect boards, utilize micro-blind buried hole technology and lamination processes to enhance circuit density, catering to the miniaturization and high-speed signal transmission needs of electronic products. They are primarily used in mobile phone motherboards, digital devices, and automotive electronics [3][4]. - The HDI board industry can be categorized into three types based on lamination complexity: low-end HDI (single lamination), high-end HDI (two or more laminations), and any-layer HDI (most complex) [3]. Market Size and Growth - The global HDI board market is projected to reach 12.8 billion USD in 2024, with a year-on-year increase of 15.3%, and is expected to grow to approximately 14.3 billion USD by 2025 [5][6]. Competitive Landscape - The HDI board industry is dominated by overseas and Taiwanese manufacturers, while mainland Chinese companies are rapidly catching up. Key players in mainland China include companies like Fangzheng Technology, Bomin Electronics, and Shenghong Technology, which are increasing their R&D investments and expanding high-end production capacities [7][8]. Development Trends - The HDI board market is shifting towards higher-end products, driven by the demand for advanced mobile devices and the adoption of AnyLayer HDI motherboards in Android smartphones. The trend indicates a growing need for high-layer HDI boards as high-end smartphone sales increase [9]. - The application fields for HDI boards are expanding, particularly in the rising electric vehicle sector, which requires stable and reliable circuit connections for various systems [10]. Additionally, the medical device sector is also a growing market for HDI boards due to the demand for miniaturized and intelligent devices [11]. - Environmental considerations are leading to a trend towards green manufacturing practices in the HDI board industry, with a focus on reducing harmful substances and optimizing production processes [12].

Market Overview - The component sector experienced a decline of 4.47% on September 26, with Zhongfu Circuit leading the drop [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Stock Performance - Notable gainers included: - Tianjin Pulin (002134) with a closing price of 21.00, up 4.37% on a trading volume of 143,100 shares and a turnover of 301 million [1] - ST Dongjing (002199) closed at 10.01, up 3.52% with a trading volume of 44,000 shares [1] - Major decliners included: - Zhongfu Circuit (300814) closed at 48.52, down 8.61% with a trading volume of 137,800 shares and a turnover of 689 million [2] - Dongshan Precision (002384) closed at 68.58, down 7.44% with a trading volume of 862,600 shares [2] Capital Flow - The component sector saw a net outflow of 6.765 billion in institutional funds, while retail investors contributed a net inflow of 5.702 billion [2] - The table of capital flow indicates varying levels of net inflow and outflow among individual stocks, with notable movements in Tianjin Pulin and ST Dongjing [3]

Group 1 - The core point of the article is that Zhuhai's second plant of Chongda Technology is currently in a ramp-up phase with a monthly production capacity of 120,000 square meters, and the full capacity will be determined based on market conditions and ramp-up progress [2] Group 2 - The company is committed to maximizing the efficiency of the Zhuhai second plant and will actively work to release its production potential [2]

Group 1 - The company currently does not have direct OCS (Optical Circuit Switching) switch products [2] - The company's R&D resources are primarily focused on the development and mass production of core technologies such as servers, communication, high-layer PCBs for aerospace, and advanced packaging substrates [2] - The company will continue to monitor industry technology trends and actively invest in cutting-edge fields [2]

Core Viewpoint - The company Puno Wei has successfully entered the supply chains of major clients such as Huawei HiSilicon, Luxshare Precision, and GoerTek, with its advanced packaging substrate products being utilized in various terminal devices including smartphones, smartwatches, and 5G base stations [1] Group 1: Client Expansion - Puno Wei's advanced packaging substrate products are now applied in terminal devices like smartphones, smartwatches, and 5G base stations [1] - The company has begun mass supply of 25/25 micron IC substrates for AI servers to Huawei HiSilicon, which is expected to become a significant revenue source in 2025 [1] Group 2: Collaboration with Other Companies - The collaboration between Puno Wei and GoerTek, as well as Luxshare Precision, is deepening, with Puno Wei supplying MEMS substrates primarily for smartphones, TWS earphones, and wearable devices [1]

Core Viewpoint - The company currently does not have direct OCS (Optical Circuit Switching) switch products and is focusing its R&D resources on core technologies such as servers, communication, aerospace high-multilayer PCBs, and advanced packaging substrates [1] Group 1 - The company is actively monitoring industry technology trends and is committed to laying out strategies in cutting-edge fields [1]