Group 1 - The core viewpoint is that the automotive display industry will face intensified competition and rapid market changes by 2025, prompting the company to integrate upstream and downstream operations and expand new businesses like CP Line [2] - The company plans to enhance its FATP capabilities and increase R&D investment to develop new products and applications, thereby enriching its product offerings and strengthening pricing power [2] - The company aims to leverage its global manufacturing advantages and focus on the "China + US" markets to continuously improve revenue contributions [2] Group 2 - By 2025, the company will have multiple vehicle models in mass production, including main control screens, air conditioning screens, and instrument screens, serving clients from both new energy vehicle startups and traditional automakers' new energy projects [2] - The company will implement differentiated market strategies in China, focusing on high-tech and high-value-added products like multi-screen and entertainment screens to capture market share [2] - The company’s brand MicroTouch, which provides interactive touch solutions globally, has undergone strategic adjustments to operate as an independent overseas subsidiary, shifting from a "channel-focused" to a "product-focused" approach, resulting in rapid revenue growth and increasing contribution ratios [2] Group 3 - The company has maintained a high gross margin due to its strong customer resources, integration and design capabilities, and rich cross-industry solution capabilities in the commercial human-machine interaction smart terminal market [3] - The company plans to continue leveraging its core advantages while enhancing global manufacturing capabilities and embracing new technologies like AI to expand into new industry applications and maintain high profitability [3]

Core Insights - The company, Chanzan Optoelectronics, held a roadshow on September 17, engaging with seven institutions to discuss its operational status and business highlights [1] Group 1: Strategic Adjustments - MicroTouch, a brand under Chanzan, has undergone significant strategic adjustments, shifting from a "channel-focused" to a "product-focused" approach, leading to rapid revenue growth and increasing contribution [2] Group 2: Customer Structure - The top ten customers of Chanzan contributed nearly 70% of the revenue in the first half of 2025, indicating a diversified customer base primarily consisting of leading companies from various industries in Europe and the U.S. [3] Group 3: Automotive Display Business - Chanzan plans to enhance its automotive display segment by developing new products and applications, focusing on the "China + U.S." markets, with multiple vehicle models already in mass production by 2025 [4] Group 4: Financial Performance - The company has maintained an average dividend payout ratio exceeding 45% over the past three years, with a consolidated gross margin above 25% and commercial display business gross margin exceeding 30% [5] Group 5: AI Technology Development - Chanzan has developed technical reserves in AI, including designs for AI CPU motherboards and camera integration, and will closely monitor market opportunities as AI applications expand [6]

Group 1: Company Overview - MicroTouch has over 40 years of experience in touch technology and was the first touch screen company listed on NASDAQ in 1992, later acquired by 3M in 2001 and by Chanzan Optoelectronics in 2020 [3] - The company has adjusted its development strategy to focus on product development, leading to rapid revenue growth and increasing contribution over the years [3] Group 2: Revenue Contribution and Client Structure - The top ten clients contributed nearly 70% of the company's revenue, with a more diversified client structure primarily consisting of leading companies and multinational enterprises in Europe and the United States [4] Group 3: Future Business Plans - In 2025, the company plans to integrate upstream and downstream operations, expand into new businesses like CP Line, and enhance FATP capabilities [6] - The company will increase R&D investment to develop new products and applications, enriching its product offerings and enhancing pricing power [6] Group 4: Dividend Policy - The company maintains a high dividend policy, with an average payout ratio exceeding 45% over the past three years, which has been well-received by institutional shareholders and the market [7] Group 5: Profitability and Gross Margin - The consolidated gross margin exceeds 25%, with the commercial display business gross margin exceeding 30% [8] - The company aims to maintain high profitability by leveraging its strong customer resources, integration and design capabilities, and by embracing new technologies like AI [8] Group 6: Automotive Display Business - In 2025, multiple vehicle models have entered mass production, including main control screens, air conditioning screens, and instrument screens, targeting both new energy vehicle startups and traditional automakers [9] - The company plans to implement differentiated market strategies in China, focusing on high-value products like multi-screen and entertainment screens to capture market share [9] Group 7: AI Development - The company has made some technological advancements in AI, including designs for AI CPU motherboards, camera integration structures, and the development of AI software and hardware interfaces [10] - Future efforts will focus on closely monitoring customer needs and seizing market opportunities as AI applications evolve [10]