FOUNDERTECH(600601)2024-06-28 08:12Business Overview - PCB business achieved revenue of 3.022 billion yuan and net profit of 178 million yuan in 2023 [2] - PCB business has core competitiveness in high-multilayer and HDI fields, serving global mid-to-high-end customers [2] - PCB business covers communication equipment, consumer electronics, optical modules, server storage, automotive electronics, digital energy, and industrial control medical fields [2] AI and Server Storage - AI server business is divided into traditional servers and cloud-based AI servers [2] - The company has the capability to produce high-reliability products and ultra-dense high-order HDI for AI server core customers [2] Optical Module and Switch - Optical module business has grown rapidly in 2024, with mass production of 10G-100G-200G-400G-800G products [2] - 1.6T connectors and optical module products have completed sampling and are ready for mass production [2] - The company has 400G and 800G switch technology and mass production capabilities [2] Capacity and Investment - The company has 4 operational factories, with ongoing technical upgrades [2] - F3 factory technical upgrades, MSAP production line, and F7 phase II HDI investments have been completed [2] - Overseas investment of 943 million yuan is being made to build the Founders Technology (Thailand) Intelligent Manufacturing Base [2] HDI Capacity - Total HDI planned capacity is 465,000 square feet per month, with F3 factory accounting for 350,000 square feet and F7 phase II accounting for 115,000 square feet [3] - The company is a leader in the domestic HDI industry [3] Overseas Business - Overseas business accounts for about one-third of total revenue, covering North America, Europe, Japan, South Korea, and other Asian regions [3] - The company is actively expanding overseas markets and advancing the Founders Technology (Thailand) Intelligent Manufacturing Base project [3] Financial and Operational Outlook - PCB market conditions in the first half of 2024 are better than the same period last year [3] - The company is focusing on expanding high-end capacity, improving HDI proportion, and optimizing customer and product order structures [3] - The company has a low debt-to-asset ratio and relies on self-owned funds and bank loans for financing [4] Non-PCB Business - The company is exploring ways to revitalize its historical legacy business, fusion communication [3] - Future focus will be on the PCB main business, with potential strategic mergers and acquisitions [3] Employee and Material Costs - Employee incentive arrangements will be considered based on actual operating conditions [4] - Rising copper material costs have a controllable impact on operations, with the company actively communicating with supply chains and customers [4]