Company and Industry Overview * **Company**: MiTAC (3706.TW) * **Industry**: Server ODM (Original Design Manufacturer), AI servers, automotive electronics * **Management Visit**: Goldman Sachs visited MiTAC management in Taiwan on December 6, 2024. * **Industry Trend**: Continuous growth in Taiwan server ODMs, driven by the next generation full rack AI servers entering mass production. Key Takeaways * **AI Server Growth**: MiTAC's AI server business is growing with a diversified customer base, including public cloud, private cloud, edge computing, and enterprise clients. The company recently launched two new models to meet the needs of its diverse customer base. * **Server and Automotive Electronics**: Management remains positive on the server and automotive electronics business, driven by strong demand for AI servers from cloud service providers and increasing demand for automotive dash cameras and smart telematics solutions. * **Diversified Production Sites**: MiTAC's AI servers production sites are across Taiwan, Guangdong, Vietnam, and the US. The company is expanding capacity in Vietnam, Taiwan, and the US to better support clients' needs and mitigate the risks of geopolitical tensions. * **New Product Launches**: MiTAC recently announced new AI server products, including Nvidia MGX 4U servers and a new AI server model supporting the latest AMD MI325X GPUs. * **Positive Outlook for 2025**: Management expects both compute servers and AI servers to grow in the next year. Additional Information * **Company Profile**: MiTAC has 40+ years of experience in designing, manufacturing, and selling electronic products. It has three major subsidiaries: MiTAC computing, MiTAC digital, and MiTAC international. * **Analyst Ratings**: Goldman Sachs has a Buy rating on Hon Hai, FII, Quanta, Wistron, Wiwynn, and Gigabyte.

Investment Rating - The report does not provide a specific investment rating for the industry Core Insights - Academic preparedness is crucial for student success in college, encompassing both academic performance indicators and noncognitive behaviors [1][2] - A significant percentage of students entering college are not adequately prepared, with about 70% of students in 2-year institutions and 40% in 4-year institutions needing remedial courses [2] - The study highlights the importance of understanding students' perspectives on academic preparedness to improve support systems [3][7] Summary by Sections Academic Preparedness Definitions - Students define academic preparedness in various ways, with key categories including readiness for college-level courses, mastery of foundational knowledge, good study strategies, rigorous high school courses, and good grades [9][10][12][13][16] Self-Assessment of Preparedness - A majority of students believe they have at least a 50% chance of earning a B or higher in first-year college courses, with high agreement rates for English Composition I (97%) and college algebra (89%) [17] - Some students overestimate their preparedness, with discrepancies between self-assessment and ACT Benchmark scores [18][19] Evidence for Evaluating Preparedness - Students commonly use multiple measures to evaluate their academic preparedness, with 81% citing high school GPA and others considering standardized test scores and course difficulty [21][23] - Accurate self-evaluation is linked to the use of diverse academic measures [21][22] Factors Influencing Academic Preparedness - Key factors associated with academic preparedness include the number of college-credit-bearing courses taken, study skills, and availability of academic resources [29][30][71] - Students from different racial/ethnic backgrounds and income levels show disparities in the number of college-credit-bearing courses taken [30][36] Supports and Behaviors for Preparedness - Students identify advanced courses, study skills, professional support from knowledgeable adults, and personal support from family and friends as crucial for academic preparedness [51][52][53] - Developing study skills and establishing social and emotional behaviors, such as work ethic and determination, are also emphasized [60][62][72] Recommendations for High Schools - High schools should help students understand and utilize multiple academic measures for evaluating preparedness, encourage enrollment in college-credit-bearing courses, and provide access to academic resources [73][74][75][76][77]

Investment Rating - The report does not provide a specific investment rating for the industry Core Insights - The study concludes that both high school GPA (HSGPA) and ACT scores are significant predictors of college success, particularly first-year college GPA (FYGPA) [2] - FYGPA mediates the relationship between ACT scores and cumulative GPA (CGPA), but not between HSGPA and CGPA [2] - The interaction between HSGPA and ACT scores is a significant predictor of CGPA, emphasizing the importance of consistent achievement across both measures for better outcomes [2] Summary by Sections Introduction - Prior research indicates that both ACT scores and HSGPA are important predictors of college success, with HSGPA often being a stronger predictor than ACT scores [10][11] - The current study aims to explore how FYGPA mediates the effects of ACT scores and HSGPA on CGPA [14] Methods - The analytical sample included ACT-tested students from a southern state, tracked for six years to determine degree completion [17] - Key measures included ACT Composite Score, Cumulative High School GPA, First-Year College GPA, and Cumulative Graduating College GPA [18][19][21][22] Results - The average ACTC score was 23.48, average HSGPA was 3.52, and both average FYGPA and CGPA were 3.38 [29] - The sample consisted of 7,516 students, with a higher representation of female students and a majority being White [29] - Path analysis indicated that FYGPA is a mediator of the effect of ACTC score on CGPA, while HSGPA did not show significant predictive power in this model [44] Discussion - The findings highlight the importance of using both HSGPA and ACT scores for predicting long-term college success, such as CGPA [85] - The study suggests that colleges should consider both measures in admissions processes to better identify students needing academic support [85]