WOER(SZ:002130) Xin Lang Cai Jing·2025-11-25 13:43Core Insights - The company, Shenzhen Woer Heat-Shrinkable Material Co., Ltd., has experienced significant growth in its high-speed communication cable business, with revenue increasing over 300% year-on-year due to rising demand from data centers and AI applications [2] - The company is actively expanding its production capacity and has plans to increase the number of extrusion machines for imported foam core cables from 7 to over 30 by mid-2026 [2] - The company has successfully developed a 448G single-channel high-speed communication cable sample, which is currently undergoing customer validation, indicating strong technological capabilities [3] - The new energy and electronic materials segments are also performing well, with the company leading in domestic revenue for DC charging guns and maintaining high gross margins in electronic materials [4] - The company aims to maintain a healthy gross margin of 32.45% through various measures, including technological innovation and cost management [5] High-Speed Communication Cable Business - The high-speed communication cable segment has become a key growth driver for the company, with a revenue increase of over 300% in the first three quarters of 2025 compared to the previous year [2] - The company has strategically planned its production capacity to seize industry opportunities, with advanced extrusion machines being utilized for multiple cable products [2] Technological Development - The company has completed the development of a 448G high-speed communication cable sample, which is now in the customer validation phase, showcasing its commitment to technological advancement [3] - The company positions itself in the upstream segment of the data center supply chain, directly serving major connector companies and ultimately supplying to leading server manufacturers [3] New Energy and Electronic Materials - The new energy business has shown robust growth, with a compound annual growth rate exceeding 30% over the past three years, and the company ranks first in domestic revenue for DC charging guns [4] - The electronic materials segment maintains a stable development trajectory, with efforts focused on optimizing product structure and expanding into high-end applications [4] Gross Margin Management - The company reported a comprehensive gross margin of 32.45% for the first half of 2025 and plans to sustain this through innovation and efficiency measures [5] - The company anticipates continued growth in high-speed communication demand, leveraging its technological expertise and production capacity to strengthen its market position [5]