Core Viewpoint - The company, New Aluminum Era, has a high customer concentration, with sales to its top five clients accounting for approximately 59.99%, 58.73%, and 58.82% of its revenue by November 2025, primarily due to its focus on the consumer electronics industry [1] Group 1: Customer Concentration - The company's customer concentration is high, attributed to the consumer electronics sector, which is dominated by a few well-known terminal brands and their main OEMs [1] - The company does not have a single major customer whose revenue contribution exceeds 50%, indicating a diversified customer base [1] - Long-term and stable business relationships have been established with major clients, contributing to revenue stability [1] Group 2: Industry Characteristics - The high customer concentration aligns with industry characteristics, including the clustering of downstream industries and clients' centralized supply chain management [1] - The company’s situation reflects the typical dynamics of the consumer electronics market, where a few key players dominate [1]
新铝时代：公司不存在单一大客户收入占比超过50%的情形