Core Viewpoint - The company, Taicheng Light (300570), focuses on passive optical devices as its main product, with optical modules serving as a supplementary core business to meet customer needs and enhance the development of passive products [1] Group 1: Product Positioning - The primary products of the company are passive optical devices [1] - Optical modules are positioned as a core business supplement, fulfilling customer support needs and promoting the research and development of passive products [1] Group 2: Product Development - The company has already begun supplying 800G optical modules [1] - The 1.6T optical module is currently under development [1]

Group 1 - The company has focused on the development of CPO-related passive products in recent years [1] - The company maintains its leading position in the flexible optical board sector, continuously optimizing technology and enhancing advantages [1] - The company is conducting research and development to meet high core count and high standard customer demands for FAU [1] - The technology and product development for polarization-maintaining MPO/FAU is also continuously improving [1]

Group 1 - The company, Taicheng Light (300570), announced on August 21 that its products, including flexible optical boards, ultra-small connectors, and polarization-maintaining connectors, can be applied in the CPO wiring field [1] - The company has participated in the research and trial production of CPO solutions for several foreign manufacturers [1] - The mass application of CPO solutions and the timeline for such applications primarily depend on the choices made by switch manufacturers [1]

Group 1 - The company, Taicheng Light (300570.SZ), recently stated that its main products include passive optical devices, active optical devices, and optical sensing products [1] - Over 90% of the company's revenue comes from passive optical device products [1]

Core Viewpoint - The company focuses on passive optical devices as its main product, with optical modules serving as a supplementary core business to meet customer needs and enhance the development of passive products [1] Product Positioning - The primary product of the company is passive optical devices, while optical modules are developed to complement the main offerings [1] - The company has already supplied 800G optical modules and is currently developing 1.6T optical modules [1]

Group 1 - The company, Taicheng Technology (300570.SZ), has recently indicated that its products, including flexible optical boards, ultra-small connectors, and polarizing connectors, can be applied in the CPO wiring field [1] - The company is involved in the research and trial production of CPO solutions with several foreign manufacturers [1] - The mass application of CPO solutions and the timeline for such applications primarily depend on the choices made by switch manufacturers [1]

格隆汇8月20日丨富信科技(688662.SH)在投资者互动平台表示，具体经营情况请关注公司披露的定期报 告；公司已与光模块厂商积极开展应用于1.6T光模块的Micro TEC的项目开发。 ...

格隆汇8月20日丨富信科技(688662.SH)在投资者互动平台表示，具体经营情况请关注公司披露的定期报 告；公司已与光模块厂商积极开展应用于1.6T光模块的Micro TEC的项目开发。 ...

Financial Data and Key Metrics Changes - The profit attributable to the owners of the company reached JPY 1,650,000,000, reflecting a 52.6% increase [4] - Total operating expenses increased by 6.8%, while net cash from operating activities rose by 14% [4][5] - The gross profit margin for handset products is expected to fall between 20% to 30% for the whole year, with high-end products contributing significantly to this margin improvement [7][51] Business Line Data and Key Metrics Changes - Revenue from mobile handsets and modules grew significantly, with revenue from hybrid lenses increasing by over 100% year-on-year [6] - The automotive business saw an 18% revenue growth, with high demand for vehicle modules and lenses [58] - The XR business achieved JPY 1,200,000,000 in revenue, with a strong market share in smart goggles [18] Market Data and Key Metrics Changes - The global camera market size is expanding due to increased ADAS penetration, with leading car manufacturers accelerating LiDAR deployment [10][11] - The smart glass market is expected to exceed 10,000,000 units by 2025, driven by AI advancements [16] - The robotics sector is experiencing growth, particularly in intelligent lawn mowing and pool cleaning robots [28] Company Strategy and Development Direction - The company aims to integrate AI into manufacturing processes, emphasizing the importance of smart manufacturing for future competitiveness [30][36] - There is a focus on developing smart hardware based on optical perception technology, with plans to enhance capabilities in decision-making and control systems [32][34] - The company is adopting flexible overseas deployment strategies to respond to international market demands [46][47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the vehicle business, expecting a 20% revenue increase for the year [53] - The company is optimistic about the future of LiDAR technology, viewing it as a significant growth area [60][62] - Management highlighted the importance of maintaining high yield and efficiency in production to sustain market share [40] Other Important Information - The company has upgraded its ESG ranking from BB to A level, reflecting progress in climate-related disclosures [48] - Organizational optimization efforts are underway to consolidate resources for major projects in optical processing and technology development [42][43] Q&A Session Summary Question: What is the profitability contribution of the non-handset business? - The contribution from handset business is over 50%, with net profit growing by 52% year-on-year [50] Question: What is the guidance for the second half of the year? - The gross profit margin for handsets is expected to exceed 25%, with overall revenue growth projected at 5% to 10% [51][53] Question: Can you provide a breakdown of vehicle revenue growth? - The vehicle business is expected to grow by 20% for the year, with significant contributions from high-end products [54][58] Question: What is the outlook for the XR business? - The XR business is expected to grow moderately, despite a decrease in VR-related revenue [56] Question: When will explosive growth from overseas customers be expected? - The company anticipates a long-term trend of growth from overseas markets, particularly in Europe and Japan [77] Question: How will the gross profit margin be affected by AR and VR products? - The gross profit margin varies across different segments, with AR and VR products not expected to have high margins initially [80][82]

Financial Data and Key Metrics Changes - The profit attributable to the owners of the company reached JPY 1,650,000,000, reflecting a growth of 52.6% year-on-year [5] - Total operating expenses increased by 6.8%, while net cash from operating activities rose by 14% [5] - Gross profit margin for handset products is expected to fall between 20% to 30% for the year, with high-end products improving margins significantly [8][9] Business Line Data and Key Metrics Changes - Revenue from handset lenses increased by over 9% year-on-year, while revenue from hybrid lenses grew by over 100% [7] - The automotive business saw an overall revenue growth of 8%, with expectations for a 20% growth for the year [54] - XR business achieved JPY 1,200,000,000 in revenue, with a 21% growth rate in the first half of the year [18][55] Market Data and Key Metrics Changes - The global camera market size is driven by the acceleration of ADAS penetration, with continuous improvement in camera specifications [11] - The smart glass market is expected to exceed 10,000,000 units by 2025, driven by AI empowerment [16] - The company is seeing increased orders from overseas markets, particularly in Europe and Japan, indicating a long-term growth trend [78] Company Strategy and Development Direction - The company aims to strengthen its advantage in optical perception technology while extending into decision-making and control domains [32] - There is a focus on developing technologies for autonomous driving and smart manufacturing, emphasizing the importance of AI integration [30][36] - The company plans to adopt flexible strategies for overseas deployment in response to customer demands and market developments [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the vehicle business, expecting to surpass industry growth rates [79] - The company is optimistic about the future of the XR business, despite potential declines in VR-related revenue [56] - Management highlighted the importance of technological accumulation and innovation to maintain leadership in the industry [15] Other Important Information - The company has upgraded its ESG ranking from BB to A level, reflecting progress in addressing climate change risks [48] - Significant investments are being made in R&D for new technologies, particularly in the areas of LiDAR and smart glasses [90] Q&A Session Summary Question: What is the profitability contribution of the non-handset business? - The profitability from the handset business is over 50%, with rapid growth driven by gross profit margin improvements [50] Question: What is the guidance for the second half of the year? - The gross profit margin for handsets is expected to be between 25% to 30% for the year, with revenue growth anticipated [51][53] Question: Can you provide a breakdown of vehicle revenue growth? - The vehicle business is expected to see a revenue growth of 20% for the year, with significant contributions from high-end products [54] Question: What are the expectations for the LiDAR business? - The development of LiDAR is becoming clearer, and the company is focusing on technological capabilities and mass production [60][62] Question: How does the company plan to balance size, margin, and profitability? - Management emphasized the importance of technology-enabled products and maintaining high utilization rates in production [66][70] Question: What is the outlook for the gross profit margin in the vehicle module business? - The gross profit margin for vehicle modules is expected to be higher for premium cars, but competitive pressures exist in overseas markets [81]