Core Viewpoint - Dongtai High-Tech has established itself as a leading player in the global PCB drilling needle market over the past 30 years, with a strong performance driven by the increasing demand for PCB processing due to the growth of AI computing power [1] Financial Performance - In the first three quarters of 2025, the company achieved a revenue of 1.457 billion yuan, representing a year-on-year growth of 29% [1] - The net profit attributable to the parent company reached 282 million yuan, marking a year-on-year increase of 64% [1] Market Demand - The surge in AI computing demand has significantly boosted the usage of high-end PCB drilling and consumables, leading to a full order book for the company [1] - The company is entering a phase of accelerated performance realization due to the robust demand in the market [1] Future Projections - The projected net profits for the company from 2025 to 2027 are estimated to be 400 million yuan, 630 million yuan, and 900 million yuan respectively [1] - The current stock price corresponds to dynamic price-to-earnings ratios of 104x, 66x, and 46x for the years 2025, 2026, and 2027 respectively [1] Investment Rating - The company has been given a "Buy" rating in the initial coverage [1]