Revenue Structure and Growth - The company's revenue from AI server testing is expected to account for 20-30% of total revenue, driven by high growth in the AI server industry, particularly in North America with major clients like Amazon, Google, and Microsoft [2][3] - The automotive electronics business has seen revenue increase from approximately 5% to 20% this year, benefiting from upgrades in B clients' intelligent driving systems and increased demand for camera and radar components [3] - The 3C business segment accounts for about 40% of total revenue, showing a slight decline in percentage but maintaining stable absolute values, with significant growth in smart wearable devices [4] Business Unit Structure - The company has divided its business units (BUs) based on product lines, including BU1 for RF, acoustic, and optical testing; BU2 for automated assembly equipment; and BU3 for electrical and functional testing [5] Transition to Component Supplier - The company aims to transition to a component supplier, leveraging insights gained from collaborations with clients over the past two years, particularly in liquid cooling solutions [6] Testing Equipment and Market Opportunities - Testing durations vary by product, with CPU tests taking about 30 minutes and GPU tests ranging from 4 to 6 hours, indicating a growing demand for testing equipment as clients seek to ensure product reliability [7] Financial Performance and Debt Management - The company experienced initial profitability post-IPO, followed by losses due to slower-than-expected 5G market growth, but has since diversified into automotive electronics and server businesses, leading to a gradual recovery in performance [7] - Debt levels are decreasing primarily due to the conversion of convertible bonds, which reduces principal and interest payments, alongside minimal bank loans [7]

Group 1: Company Transformation and Growth - The company has transitioned from traditional 3C testing equipment to intelligent manufacturing, expanding into server and automotive electronics, achieving recognition from high-profile overseas clients for its technological capabilities and operational management [2][3]. - The automotive electronics business has seen significant growth, with revenue share increasing from approximately 5% to 20% over the past two to three years, indicating a strong upward trend [3][4]. Group 2: AI Server Testing Solutions - The company has updated its AI server testing solutions, incorporating liquid cooling technology in response to client demands for enhanced thermal management, which is crucial as product power requirements increase [3][4]. - Anticipated revenue from AI server testing equipment is expected to remain optimistic, with significant capital expenditure forecasts from North American clients [4][5]. Group 3: Research and Development Investment - The company has completed high R&D investments in previous years and is now entering a harvest phase, maintaining stable future R&D expenditures [5][6]. - The gross margin for server-related equipment is favorable, and as production scales, the cost structure is expected to improve, contributing to overall margin enhancement [5][6]. Group 4: Liquid Cooling Technology - The company has developed proprietary liquid cooling modules using microchannel technology to meet high-power application needs, which are now successfully integrated into testing equipment [5][6]. - The shift towards liquid cooling solutions is driven by increasing power demands from client products, positioning the company favorably within the industry [5][6]. Group 5: Robotics and Precision Manufacturing - The company is exploring opportunities in robotics, having invested in a robotics company and is actively engaging in the development of robotic components [6][7]. - The company possesses technical expertise in precision machining, which aligns with its strategic direction in the robotics sector [7].