Group 1: Order and Production Insights - The company currently has a full order book, with a high capacity utilization rate maintained since the second quarter [2] - The market share of small power automotive transformers has been gradually increasing, with continued growth expected in automotive inductors as smart driving becomes more prevalent [3] Group 2: Automotive Electronics Business - The automotive electronics sector is a key growth area for the company, with combined sales of automotive electronics and energy storage reaching 1,104.16 million yuan in 2024, a year-on-year increase of 62.10% [3] - The company remains optimistic about the automotive electronics market, anticipating healthy growth driven by new product introductions and expanding applications [3] Group 3: Data Center Applications - The data center market is identified as a strategic area, with significant sales growth in power inductors for power management applications [4] - The company collaborates closely with leading enterprises to provide energy-efficient product solutions for AI servers and other applications [4] Group 4: Mobile Communication Sector - The mobile communication sector is a traditional stronghold for the company, with a high market share and comprehensive coverage of core customers [4] - The integration of AI features in smartphones is driving demand for power inductors, contributing to the growth of related product lines [4] Group 5: Capital Expenditure and Financing - The company operates in a capital-intensive industry, necessitating ongoing expansion and high funding requirements [4] - Future capital expenditures will focus on infrastructure development, with a slowdown expected as new industrial parks and R&D centers are completed [4] - The company plans to develop financing strategies based on specific investment needs, with no immediate plans for direct capital market financing [4]