Group 1: Business Performance - The company has maintained a high capacity utilization rate since the second quarter, indicating strong order fulfillment [2] - The mobile communication sector remains a traditional stronghold, with a significant market share among core customers [2][3] Group 2: Automotive Electronics - The company is a leading manufacturer of automotive magnetic components in China, focusing on applications related to "three electrics and one integration" in new energy vehicles [3] - Continuous innovation and expansion of product lines are prioritized to meet long-term customer needs [3] Group 3: Ceramic Business Outlook - The subsidiary has been involved in precision ceramic components for years, targeting markets such as smart wearables, consumer electronics, and new energy [3] - The solid oxide fuel cell sector is a key focus for future growth, with rapid development expected to contribute to sales revenue [3] Group 4: Expense Management - Overall expense management is under control, with a compound annual growth rate of approximately 24% in sales revenue since the company went public [4] - Investments are aligned with long-term strategic goals, focusing on talent development, R&D, and new product development [4] Group 5: Capital Expenditure Plans - The company operates in a capital-intensive industry, necessitating ongoing expansion and high funding requirements [4] - Significant investments in industrial park infrastructure are expected to slow down in the coming years as major projects are completed [4]

Group 1: Revenue Structure and Growth Direction - In Q1 2025, the revenue structure remained consistent with 2024: ceramic structural parts accounted for approximately 50%, "function-structure" modular products for about 33%, and surface treatment services and metal structural parts for around 10% [1] - The company aims to enhance its core competitiveness by focusing on the development of ceramic heaters, electrostatic chucks, and ultra-pure silicon carbide kits, targeting international first-class semiconductor equipment standards [2] Group 2: Order Status and Delivery Times - The delivery cycle for ceramic structural parts is approximately 45 to 60 days, while "function-structure" modular products have a delivery cycle of about 90 days [2] - The current order backlog is sufficient to support business growth, with a significant increase compared to the same period last year, indicating a stable production state [2] Group 3: Product Development and Production Capacity - The ceramic heater has been mass-produced since Q4 2023, with expected increased demand in 2025 due to the replacement cycle and capacity expansion needs from wafer fabs [3] - The new production base in Suzhou is set to be fully operational in 2025, with plans to enhance the theoretical production capacity of ceramic heaters to nearly 200 units per month by year-end [3] Group 4: Modular Product Progress - The electrostatic chuck has completed validation and is in small-scale production, while the ultra-pure silicon carbide kits are also progressing with validation and promotion at customer wafer fabs [3] - The company aims to complete more modular product validation processes in 2025 and begin formal mass production [3]