Core Viewpoint - The company is actively exploring new opportunities in the SiP module market, particularly in mobile applications and AI glasses, while also focusing on expanding its production capacity in response to customer demand [1][4][7]. Group 1: SiP Modules and Mobile Applications - The company has identified potential in SiP modules for mobile applications, with new project developments in the SiPlet area [1]. - There is a shift in customer demand towards new applications, indicating future opportunities for SiP modules in mobile devices [1]. - The high integration SiP modules are expected to significantly reduce the size of main control boards in AI glasses, although cost advantages over COB solutions are not yet realized due to low production volumes [4][5]. Group 2: L10 Server JDM Project - The L10 server JDM project has been successfully delivered, developed in collaboration with long-term OEM customers, focusing on edge server solutions [2]. - The company is closely monitoring market reactions to the L10 product and is committed to ongoing collaboration with customers [2]. Group 3: Optical Modules and R&D - The company is currently developing a 1.6T optical module, with plans to enhance product validation efficiency through new laboratory facilities [3]. - The strategy includes strengthening collaboration across the supply chain to establish comprehensive capabilities from R&D to manufacturing in the optical module sector [3]. Group 4: Capital Expenditure and Production Capacity - The company plans to increase production capacity by 30% in Taiwan and 20% in Mexico to meet rising customer demand [3]. - Current capital expenditure guidance is set at $200 million, with potential increases anticipated for future projects, particularly in high-voltage direct current supply systems [6]. Group 5: Market Demand and Business Outlook - The company expects stable demand in 2025, with significant growth anticipated in the smart glasses segment [7]. - The industrial product inventory turnover is slower than expected, indicating a gradual return to normalcy in the second half of the year [7]. - The company is focusing on key components in consumer electronics, with plans to invest in manufacturing capabilities for AI glasses modules [5]. Group 6: Strategic Focus on Vertical Power Supply and Optical Modules - The company is leveraging its micro-miniaturization capabilities and advanced packaging advantages to develop vertical power supply and optical module technologies [8]. - The vertical power supply project is expected to see market readiness around 2028, with ongoing collaboration and investment planned [6][8]. Group 7: AI Acceleration Cards - The company aims to capture a 30% market share in AI acceleration cards, with plans to expand into motherboard business as well [9]. Group 8: Financial Performance - The company's Q1 2025 report shows a revenue of 13.649 billion yuan, a year-on-year increase of 1.16%, and a net profit of 335 million yuan, reflecting a slight increase [10]. - The debt ratio stands at 53.12%, with investment income reported at 87.4352 million yuan [10]. Group 9: Analyst Ratings and Predictions - Recent analyst ratings indicate a positive outlook, with three institutions issuing buy ratings and a target average price of 17.13 yuan [11]. - Profit forecasts for the next three years show expected growth in net profit, with estimates reaching 27.64 billion yuan by 2027 [11].