Technology – Electronic Components Industry data Technology – Electronic Components Akinori Kanemoto AC +813-6736-8628 akinori.kanemoto@jpmorgan.com Japan Equity Research 27 February 2026 Technology – Consumer/Industrial/Precision Junya Ayada +813-6736-8631 junya.ayada@jpmorgan.com JPMorgan Securities Japan Co., Ltd. See the end pages of this presentation for analyst certification and important disclosures, including non-US analyst disclosures. J.P. Morgan does and seeks to do business with companies covere ...

Stoneridge, Inc. to Broadcast Its Fourth Quarter 2025 Conference Call on the Web [Accessibility Statement] Skip NavigationNOVI, Mich., March 2, 2026 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) will webcast its fourth quarter 2025 earnings conference call live on Thursday, March 12, 2026, at 9:00 a.m. ET with members of the executive team.The webcast can be accessed on the [Presentations & Events] page of the Investors section of the Company's website, [www.stoneridge.com].Stoneridge, Inc., headquartered in ...

February 27, 2026 10:00 AM GMT Electronic Components | Japan Jan HDD/SSD Data: Growth Continues for Data Center SSD/ HDDs Growth in shipment volume/capacity for DC-use enterprise SSDs and the increase in production volume of NL HDDs are ongoing. Key Takeaways Shipment volume of DC-use NL HDDs, enterprise SSDs continues to rise, but non-NL HDDs and non-enterprise SSDs look set to continue struggling: Techno Systems Research (TSR) forecasts total HDD shipment capacity to continue to grow from 1,627EB in 2025 ...

Electronic component designer Celestica (CLS) is currently cashing in on the artificial intelligence (AI) boom by supplying tech giants with Ethernet switches and other equipment. The spending spree has turned the tide for Celestica, making it the top supplier of 800 Gbps Ethernet switches to leading hyperscale tech giants. The company also has a longstanding partnership with chip giant Advanced Micro Devices (AMD), which has positioned it as a beneficiary of AMD’s multi-year collaboration with Meta Plat ...

Core Viewpoint - The company, Kexin Innovation Source, is focusing on the research, production, and sales of liquid cooling plates for data center servers through its wholly-owned subsidiary, Shenzhen Chuangyuan Zhire Technology Co., Ltd [1] Group 1: Business Model - The company employs a dual-driven business model that combines collaborative manufacturing with independent production and sales [1] - Effective breakthroughs have been achieved with clients including Taiwanese cooling component manufacturers and mainland cloud computing service providers [1] Group 2: Production Status - Some projects have gradually entered the mass production stage [1]

Core Insights - The company achieved a 14% sales increase attributed to 12% organic growth in Flight Support and 6% in Electronic Technologies, along with disciplined M&A execution [1] - The company's long-term success is driven by a culture of prioritizing brand protection and quality over short-term earnings [1] Flight Support Group (FSG) - FSG's margin expanded to 24.5% due to efficiencies in SG&A and a favorable product mix in repair and overhaul services [1] Electronic Technologies Group (ETG) - ETG faced temporary margin compression due to shipment schedule challenges and a less favorable mix of defense and space products [1] Strategic Acquisitions - The acquisition of EthosEnergy represents a strategic entry into the industrial gas turbine market, aimed at capturing increasing power demand from AI and large language model data centers [1] Operational Model - The company maintains a decentralized operating model that is scalable, with leadership talent managing multiple subsidiaries to ensure operational excellence during growth [1]

Core Insights - The recent focus on Alliance Hologram (HOLO.US) revolves around technological developments and market performance [1] Business and Technology Development - The company announced in early February 2026 its exploration of coding theory applications in blockchain scalability, aiming to enhance data processing efficiency through sharding technology and coding symbols to support digital twin businesses. However, there are market concerns regarding the implementation timeline and competitive pressures [2] Stock Performance - The stock has experienced increased volatility, with a cumulative decline of 4.27% over the past seven days as of February 11, 2026, and a price fluctuation of 11.97%. The company's total market capitalization is only $30 million, and it has a negative price-to-earnings ratio, indicating that its profitability has not yet been recognized by the market. The stock exhibits low liquidity characteristics, with a daily turnover rate of 3.92%, making it susceptible to significant price fluctuations with minimal capital movement [3] Industry Policy and Environment - The electronic components industry has shown overall volatility, with the sector rising by 0.61% on February 11. However, the company's business is still in the investment phase and has not yet generated scaled revenue. Continuous observation is needed regarding the progress of its holographic technology patent reserves, such as the 6D light field technology, towards commercialization [4]

Stock Performance - As of February 11, 2026, Austin Technology's stock price closed at $1.70, with a decline of 0.29% over the past 5 days, 20 days, and year-to-date [2] - On February 11, the stock showed no change in price, with a trading volume of 0, indicating extremely low trading activity [2] - The electronic components sector decreased by 0.39%, while the Dow Jones increased by 1.07% and the Nasdaq rose by 0.68%, indicating that the company's stock performance lagged behind both the industry and the broader market [2] Company Fundamentals - The company's price-to-earnings ratio (TTM) is negative, and its price-to-book ratio is 1.45, with a total market capitalization of approximately $0.10 billion, categorizing it as a micro-cap stock [3] - The latest financial report (as of September 30, 2025) indicates that revenue primarily comes from polarizers (49.19%) and display modules (38.40%) [3] - Recent market focus has shifted towards the expansion of the AI industry from digital to physical realms, but Austin Technology has not publicly indicated direct involvement in these trends [3] - Current stock price fluctuations are mainly influenced by overall sector weakness and low liquidity [3]

Group 1 - The visit to Shenzhen by the delegation led by Chen Bozhang aimed to promote investment and establish connections with key enterprises, aligning with the provincial and municipal government's objectives for the "14th Five-Year Plan" [1] - Huawei, a global leader in information and communication technology, signed a deepened cooperation framework agreement with Changsha, focusing on industrial development, artificial intelligence, data elements, technological innovation, and digital talent cultivation [3] - BYD has established six industrial parks in Changsha, providing 60,000 jobs and achieving over 100 billion yuan in output value for four consecutive years, indicating strong industrial presence and growth [5] Group 2 - Shenzhen's Xinwei Communication Co., Ltd., a national high-tech enterprise, has increased its investment in Hunan, establishing multiple key projects, showcasing the region's attractiveness for advanced manufacturing and technology [7] - Chen Bozhang expressed gratitude to enterprises for their support and emphasized Changsha's commitment to facilitating project implementation, innovation collaboration, and industry integration, aiming for comprehensive cooperation [7] - Business leaders acknowledged Changsha's vibrant innovation ecosystem, strong talent support, and broad development prospects, expressing intentions to increase investment and enhance collaborative outcomes [7]

Core Insights - CTS Corporation reported strong performance in Q4 2025, with diversified end-market sales increasing by 16% year-over-year, contributing to 57% of total revenue [2][7] - The company achieved a net income of $20 million in Q4 2025, representing 14.4% of sales, compared to $12 million or 9.1% of sales in Q4 2024 [7][26] - For the full year 2025, CTS recorded sales of $541 million, a 5% increase from 2024, with net income rising to $65 million from $56 million [7][26] Fourth Quarter 2025 Results - Sales reached $137 million, up 9% year-over-year, with diversified end-market sales increasing by 16% [7] - Net income was $20 million, with diluted EPS at $0.67, a 29-cent increase from $0.38 in Q4 2024 [7][25] - Adjusted gross margin improved to 39.1%, up 150 basis points from 37.6% in Q4 2024 [7][21] Full-Year 2025 Results - Total sales for 2025 were $541 million, a 5% increase from $514.8 million in 2024 [7][26] - Net income for the year was $65 million, or 12.1% of sales, compared to $56 million, or 10.8% of sales in 2024 [7][26] - Diluted EPS for the year was $2.19, up from $1.80 in 2024 [7][26] 2026 Guidance - CTS expects full-year 2026 sales to be in the range of $550-$580 million, with adjusted diluted EPS projected between $2.30 and $2.45 [5]