Group 1: Industry Overview - The semiconductor industry faces significant thermal management challenges as chip manufacturing processes become more refined, leading to increased heat generation and reduced reliability [1][2] - Diamond is emerging as a revolutionary material for thermal management, boasting thermal conductivity 13 times that of silicon and 4-5 times that of copper or silver, making it a potential game-changer in semiconductor applications [1][2] Group 2: Performance Enhancements - Utilizing diamond thermal management technology can enhance GPU and CPU performance by up to three times, reduce temperatures by 60%, and lower energy consumption by 40%, resulting in substantial cost savings for data centers [2] - In electric vehicles, diamond technology can increase charging speeds by five times and reduce thermal load by ten times, while also minimizing inverter size by six times [2] Group 3: Market Potential - The global market for diamond thermal management is projected to grow explosively, with estimates indicating a rise from approximately $0.5 million in 2025 to $15.2 billion by 2030, reflecting a compound annual growth rate of 214% [3][4] - The penetration rate of diamond thermal management technology in various sectors, including data centers, electric vehicles, consumer electronics, and satellite communications, is expected to increase significantly over the next few years [4] Group 4: Domestic Industry Strength - China dominates the global diamond production market, accounting for over 90% of the supply, with a complete and cost-effective industrial chain supporting this position [5][6] - Key Chinese companies are advancing in both equipment manufacturing and raw material production, with significant investments in diamond thermal management applications [5][6][8] Group 5: Company Initiatives - Companies like 力量钻石, 沃尔德, and 国机精工 are actively developing diamond-based thermal management solutions for semiconductor devices, with various projects aimed at enhancing performance in high-end applications [9] - The establishment of research centers and partnerships with academic institutions indicates a strong commitment to innovation in diamond applications for thermal management [9]

Core Viewpoint - The company is a high-tech enterprise specializing in the research, production, and sales of precision connectors, with a focus on innovation and quality to meet market demands [3][4]. Company Overview - The company has established long-term partnerships with well-known domestic and international enterprises such as Wistron, Transsion Holdings, Xiaomi, and TCL, leveraging its strong quality and service [3]. - The company is expanding its product offerings into industrial connectors, automotive connectors, and new energy connectors, in addition to its core connector products [3]. Business and Product Introduction - The main products include consumer electronic connectors, precision components, and semiconductor packaging thermal management solutions [6][9][10]. - The consumer electronic connectors encompass card connectors, I/O connectors, headphone connectors, and board-to-board (BTB) connectors, widely used in mobile phones and other electronic devices [6][7][8]. - The precision components are produced using Metal Injection Molding (MIM) and 3D printing technologies, providing a one-stop service from product printing to post-processing [9][5]. - The semiconductor packaging thermal management solutions are increasingly important due to the rising heat density in modern electronic products, especially in AI applications [10][11]. Research and Development - The company emphasizes R&D investment and has developed its own 3D printing equipment, entering the mass production phase [4][5]. - The R&D model combines proactive innovation with customer-driven development, ensuring a balance between technological advancement and meeting diverse customer needs [13]. Financial Performance - The company has experienced stable growth in its overall business, but net profit has been under pressure due to increased management and R&D expenses, as well as rising raw material costs [5]. - The company has adjusted its IPO fundraising project to focus on the semiconductor thermal management project, indicating a strategic shift towards high-growth areas [5]. Procurement and Production Model - The procurement process is managed by the materials department, which evaluates suppliers based on price, quality, and delivery time, ensuring a reliable supply chain [14][15]. - The production model is based on a "sales-driven production" approach, allowing for customization according to customer orders, which enhances responsiveness to market demands [16][17].