Core Viewpoint - The company is adjusting its internal investment structure for the "Nantong Qiangda Circuit Technology Co., Ltd. annual production of 960,000 square meters of multilayer boards and HDI board project" to increase the proportion of high-end HDI products in response to market demand [2][4] Investment and Financial Summary - The company plans to raise 531 million yuan through an IPO in 2024, with a net amount of 453 million yuan after deducting issuance costs, allocated as follows: 363 million yuan for the Nantong project and 9 million yuan for working capital [2] - As of November 30, 2025, the investment progress for the Nantong project is at 74.14% [2] Product Structure Adjustment - The product composition is being changed from multilayer boards and 2nd generation HDI to primarily high-layer multilayer boards, with an expanded proportion of high-end HDI products [3][4] - The new products will be applied in various fields including optical modules, AI servers, GPU acceleration cards, general substrates (UBB), automotive millimeter-wave radar, intelligent driving control, humanoid robots, Mini-LED, semiconductor testing, IoT, and low-altitude economy [3][4] Equipment Investment Progress - The equipment investment timeline has been adjusted to start in the second half of year T+2 and complete in batches by year T+6, with production expected to commence in year T+3 [3] - The projected capacity utilization rates are as follows: 18% in year T+3, 35% in year T+4, 75% in year T+5, and 100% in year T+6 [3] Industry Context - The PCB industry is transitioning from a phase of scale expansion to one of structural optimization and technological enhancement, driven by the demand from AI computing, new energy vehicles, and smart terminal innovations [4] - The market is expected to see significant growth in high-value-added areas, with increasing demand for high-layer, high-density, and high-performance products [4] Company Background - Founded in 2004, the company specializes in the R&D, production, and sales of PCBs, focusing on mid-to-high-end prototypes and small batch production [6] - The company successfully listed on the Shenzhen Stock Exchange's Growth Enterprise Market on October 31, 2024 [6] - The company aims to meet the specialized needs of customers in various sectors including industrial control, communication equipment, automotive electronics, consumer electronics, medical health, and semiconductor testing [6]

Core Viewpoint - The article discusses the growing interest of Chinese lithium battery companies in Malaysia as a strategic location for expansion, highlighting the unique advantages of the country in the context of the evolving Southeast Asian electric vehicle market [2][6][10]. Group 1: Strategic Importance of Malaysia - Malaysia is becoming a popular choice for Chinese lithium battery companies due to its low geopolitical risks, as it maintains a balance between China and the US without territorial disputes or internal conflict risks [8]. - The Malaysian government has implemented favorable foreign investment policies, including the National Industry 4.0 Policy, National Automotive Policy (NAP 2020), and Low Carbon Mobility Blueprint (LCMB 2021-2030), which support the upgrade and green transformation of industries [9]. - With over 60 ports and proximity to the Strait of Malacca, Malaysia offers lower shipping costs and easier access to global markets for local products [10]. Group 2: Market Potential in Southeast Asia - Southeast Asia is rich in key mineral resources for lithium battery production, such as nickel and cobalt, with Indonesia being a significant player attracting investments from companies like Huayou Cobalt and Greeenmei [6]. - The electric two-wheeler market in Southeast Asia is projected to grow at a CAGR of 13.09% from 2025 to 2029, with expectations to account for 30% of the global two-wheeler market by 2030 [7]. - Chinese companies like EVE Energy, Zhuhai Guanyu, and others are establishing production capacities in Malaysia, focusing on cylindrical batteries for the two-wheeler market, with a combined annual production capacity exceeding 1 billion units [7].

6月会议预告 2025高工钠电 产业峰会 主办单位： 高工钠电、高工产业研究院（GGII） 总冠名： 众钠能源 会议时间： 6月9日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 2025高工固态电池 技术与应用峰会 主办单位： 高工锂电、高工储能、高工产业研究院（GGII） 总冠名： 利元亨 会议时间： 6月10日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 近年来，中国锂电产业链企业已有不少选择将马来西亚作为出海战略地。电池企业包括，亿纬锂能、珠海冠宇、蔚蓝锂芯、海四达；材料企业则包括 新宙邦、星源材质、恩捷股份、科达利、尚太科技。 而回顾锂电产业出海潮，东南亚一贯受到锂电产业重视，且通常被作为整体探讨。 一方面，东南亚具备丰富的矿产资源。镍、钴两大锂电池生产关键矿产资源丰富，马来西亚邻国印尼，更是作为矿产大户，吸引了华友钴业、格林美 前去建厂，进行本土化生产。 另一方面，东南亚整体具备电动化市场空间，并且表现出以两轮车为主的特点。多数 东南亚国家 的 公共交通体系不算发达，公路覆盖比例较低， 两轮车的灵活性与低成本能解决更多东南亚民众的出行痛点。并且印尼、越南、泰国、菲律宾 ...