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博杰股份(002975) - 2025年11月4日投资者关系活动记录表
2025-11-05 00:48
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]