依顿电子前三季度营收同比增长16.53% 持续加码重点产品项目研发

Core Insights - The company reported a revenue of 3.053 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 16.53%, and a net profit of 367 million yuan, with a slight increase of 0.06% [1] - The company specializes in high-precision, high-density double-sided and multi-layer printed circuit boards (PCBs) and has been recognized as one of the top PCB manufacturers globally and in China [1] - The company has seen significant growth in orders from overseas core customers and has made breakthroughs in expanding domestic strategic customer orders, leading to a record high in domestic business revenue proportion [1] R&D and Technological Advancements - The company has increased its R&D investment from 4.00% to 4.21% of its revenue, with R&D expenses rising by 22.29% year-on-year, focusing on automotive electronics and computing and communication sectors [2] - Key product developments include the TRX-5G transceiver unit, automotive chassis and steering controllers, millimeter-wave radar, LED automotive headlight copper substrates, 1500V inverters, semi-flexible products for robots, and HDI products for drones [2] - The company has achieved breakthroughs in key technologies such as embedded copper block processes for multi-layer boards and HDI platform processes, ensuring core process support for high-end product mass production [2] Production Capacity Expansion - The company successfully completed the main structure topping ceremony for its Thailand production base in June 2025, with construction progressing as planned [2] - The Thailand production base will primarily cater to overseas customer orders, with product positioning to be determined based on customer needs and industry developments [2]