格隆汇1月26日丨南亚新材(688519.SH)近日接受特定对象调研表示，截至目前，公司已在上海嘉定、江 西吉安、江苏海门、泰国巴真分别投建或规划生产基地。上海生产基地设有N1-N3工厂，N1-N2工厂随 着江西生产基地产能的释放，其因能耗、人耗高，效率低停产，N3工厂设计月产能80-90万张左右（含 1条试验线）。江西生产基地设有N4 -N6工厂，N4工厂设计月产能100万张左右，已达产，N5工厂设计 月产能120万张左右，已达产；N6工厂设计月产能120万张，已完成建设并投产。江苏生产基地首个年 产360万平米的高端IC封装材料智能工厂的各项建设工作有序推进中，预计到2026年年底前试运行。泰 国生产基地已购地并办理地契，公司将视自身及行业发展趋势和地缘政治变化推进投建进度。 ...

Summary of Nanya Technology Conference Call Company Overview - **Company**: Nanya Technology - **Industry**: High-end materials for electronics, particularly in AI computing and high-speed applications Key Points and Arguments Production Capacity and Demand - Nanya Technology has been operating at near full capacity since March, with production capacity expected to increase from 2.8 million units last year to 3.2-3.4 million units this year due to line expansions [2][3] - The company has completed two rounds of price increases, with the first round in April-May and the second expected to be completed by the end of the month, with a price increase of approximately 10% [3][20] Product Segmentation and Revenue Sources - High-end products (level 6 and above) account for over 60% of total production, peaking at nearly 80% in May and June [2][4] - Revenue distribution: - Communications: ~20% - Consumer: ~20% - Automotive: 15%-20% - Energy: ~15% [6] Strategic Focus - The company is focusing on expanding its presence in communication products, automotive safety-related products, and energy markets, while also moving consumer products towards high-end segments [8] - The goal is to reduce the scale of basic products and expand strategic product lines [8] Market Outlook - The demand for high-speed materials is expected to grow, with a target of 20%-25% of revenue from high-speed materials by 2025 and 25%-30% by 2026, aiming for total revenue to exceed 6 billion yuan [4][11] - The automotive market is anticipated to grow due to increased usage of copper-clad laminates in new energy vehicles [7] International Expansion and Partnerships - Nanya Technology is actively expanding its overseas market presence, collaborating with major companies like AMD, Intel, and NVIDIA [2][10] - The company has made significant progress in certification with AMD and is accelerating material testing with NVIDIA [10][17] Future Production Plans - By the end of this year, the design capacity is expected to reach 3.9 million units, with plans for further expansion in 2026 [21][22] - A new factory in Jiangsu Haimen is expected to be completed by Q4 2026, with a monthly capacity of 250,000 to 300,000 units [22] Supply Chain and Material Sourcing - Nanya Technology relies on domestic suppliers for high-end materials and has established long-term partnerships to ensure supply security and cost reduction [26] - The company prioritizes quality and supply security when selecting upstream resin suppliers [27] Revenue Projections - For 2026, the company anticipates significant revenue growth, with expectations of reaching 6 billion yuan, of which 25% may come from non-AH area clients [15] Challenges and Considerations - The company faces uncertainties regarding the final outcomes of current bidding processes and potential shifts in market demand [5][13] Additional Important Information - The company is also focusing on high-end IC packaging materials and has made advancements in developing high-end products [25] - The establishment of a fourth production base in Thailand is planned, but construction timing will depend on market conditions [23]