Group 1: PCB Industry Developments - Recent stock performance of domestic high-end PCB manufacturers such as Shenghong Technology, Jingwang Electronics, and Shennan Circuit has been impressive, with price increases of 67.73%, 57.21%, and 39.44% respectively since June [1] - The global AI/HPC server PCB market is projected to reach $1.9 billion in 2024, with a year-on-year growth of nearly 150%, and is expected to grow to $3.17 billion by 2028, reflecting a compound annual growth rate of 32.5% from 2023 to 2028 [2] - The demand for AI servers is pushing PCB technology towards higher layer counts, with AI server PCBs typically ranging from 20 to 30 layers, compared to a maximum of 16 layers for traditional server PCBs [2] Group 2: Company Innovations and Solutions - Saiyi Information has developed an AI platform called "Shanmo GPT" tailored for the PCB industry, optimizing the entire process from order receipt to production preparation, significantly reducing parameter extraction time from 4-6 hours to a few minutes with over 95% accuracy [3] - The company has introduced various AI-native applications, such as automated MI parameter extraction and intelligent quoting, which enhance data processing accuracy and efficiency, compressing preparation time from hours to minutes [4] - Saiyi Information's solutions have been adopted by 90% of the top 10 PCB companies in China, providing strong digital and intelligent operational support [4][5] Group 3: Empowering the New Energy Sector - Since 2012, Saiyi Information has focused on smart manufacturing, helping companies in the new energy sector, particularly in solid-state battery technology, to achieve digital transformation [6] - The company has established deep partnerships with leading domestic firms, including CATL, to create a comprehensive digital solution covering the entire smart manufacturing chain [6] - Saiyi Information's lithium battery industry digital transformation solution integrates smart manufacturing, IIoT technology, big data analysis, and digital twin technology, improving production efficiency and product quality while reducing costs [7]

[Table_Title] 计算机行业 24 年需求筑底结构差异较大，经营效率提升 [Table_Summary] 核心观点： [Table_Page] 深度分析|计算机 证券研究报告 | [Table_Grade] 行业评级 | 买入 | | --- | --- | | 前次评级 | 买入 | | 报告日期 | 2025-05-03 | 相对市场表现 [Table_PicQuote] [分析师： Table_Author]刘雪峰 SAC 执证号：S0260514030002 SFC CE No. BNX004 021-38003675 gfliuxuefeng@gf.com.cn 分析师： 周源 SAC 执证号：S0260523040001 -24% -9% 5% 19% 34% 48% 05/24 07/24 09/24 11/24 01/25 03/25 计算机 沪深300 | 0755-23948351 | | --- | shzhouyuan@gf.com.cn 请注意，周源并非香港证券及期货事务监察委员会的注册 持牌人，不可在香港从事受监管活动。 | DocReport] [Table_ 相关研究 ...

Core Insights - Saiyi Information (300687) reported steady growth in its 2024 financial results, achieving a revenue of 2.395 billion yuan despite challenges from slow global economic recovery and accelerated domestic industrial digitalization [1][2] - The company has made significant advancements in technology innovation and product development, particularly in the fields of intelligent manufacturing and industrial software, with intelligent manufacturing orders exceeding 138 million yuan [1][2] - Saiyi Information's R&D expenditure reached 365 million yuan, accounting for 15.24% of its revenue, reinforcing its leading position in technological innovation [1] Financial Performance - The company achieved a revenue of 2.395 billion yuan in the reporting period, demonstrating resilience amid economic challenges [1] - Intelligent manufacturing orders contributed significantly to revenue growth, with a total signing scale of over 138 million yuan [1] - R&D spending was 365 million yuan, representing 15.24% of total revenue, highlighting the company's commitment to innovation [1] Strategic Outlook - The management expressed confidence in future growth, emphasizing the integration of AI and low-code development technologies to enhance operational processes and customer experience [1][2] - Saiyi Information plans to optimize sales and marketing strategies to expand market share, particularly in sectors like new energy vehicles and high-end equipment [1][2] - The company aims to maintain its competitive edge through continuous innovation and adaptation to industry trends and policy changes [2] Product Development - The company has developed the "Shanmo GPT" enterprise-level AI platform and various intelligent manufacturing products, which have gained market recognition and contributed to stable order and revenue growth [2] - Future plans include enhancing project management, improving delivery quality, and ensuring operational cash flow to support sustainable development [2] - Saiyi Information is committed to driving high-quality development in China's manufacturing sector through collaboration with customers and partners [2]