Group 1: AI Server Product Applications - The company focuses on the emerging strategic market of data centers, leveraging advantages in miniaturization, high precision, and high power density technology to provide comprehensive power supply solutions for AI servers [2] - The company has a full order book for AI server-related products, indicating rapid business growth in this sector [3] Group 2: Power Supply Solutions - The first power supply primarily consists of large power devices for AC/DC conversion and high/low voltage applications, tailored for AI server scenarios [2] - The second power supply involves 48V to 12V DC conversion, with various inductors and transformers addressing customer power supply challenges [2] - The third power supply includes components for xPU chips (CPU, GPU, ASIC), network cards, memory, and SSDs, featuring new AI inductors and tantalum capacitors [3] Group 3: Tantalum Capacitor Development - The company has developed new tantalum capacitor products with a wire-free structure and PCB packaging, enhancing size and performance for various applications [4] - These tantalum capacitors meet the high-temperature and high-voltage stability requirements of AI servers, with a strong customer acceptance rate [4] Group 4: Capacity Utilization and Market Trends - The company reports high capacity utilization in Q3, aligning with the traditional peak season for orders [4] - The automotive electronics sector is viewed as a key emerging market, with ongoing investments in new product development to maximize customer resource advantages [4] Group 5: Capital Expenditure Planning - The company operates in a capital-intensive industry, necessitating ongoing expansion and high funding requirements [5] - Continuous investment in R&D is prioritized, with a long-term growth trend in R&D spending [5] - Future capital expenditures will focus on industrial park infrastructure, with a slowdown expected as recent projects are completed [5]