Quan Jing Wang·2025-11-19 11:53Core Insights - The company held its Q3 2025 earnings presentation on November 19, 2025, with full interaction from investors, achieving a 100% response rate to questions [1] Group 1: Project Updates - The Thailand project is currently in the equipment installation and trial production phase, with expected production start in early next year [2] - The company is actively pursuing a simplified procedure for a targeted issuance of new shares, with specific timelines to be announced in future announcements [3] Group 2: Financial Performance and Plans - The company is working on a share buyback plan, having already repurchased shares worth nearly 70 million yuan as of January 2025, with further plans to be disclosed as they develop [4] - The management reassured investors that the recent share reductions by executives are due to personal financial needs, not a lack of confidence in the company's future [5] Group 3: Business Development - The company reported continuous revenue growth in its data center-related business, particularly in the AI liquid cooling server sector, which is expected to contribute significantly to revenue as the AI industry expands [6][7] - The company is focusing on new product development and market expansion, with notable growth in the new energy vehicle and electronics sectors over the past two years [3][7] - The company is currently validating its pre-formed high-activity solder paste in the semiconductor field, but has not yet achieved mass supply [6][7] Group 4: Operational Metrics - The company's current capacity utilization rate exceeds 80% [6]