FOUNDERTECH(SH:600601)2024-07-11 08:08Group 1: Business Overview - The core PCB business is primarily operated by Zhuhai Founder Technology Multi-layer Circuit Board Co., Ltd., which has developed core competitiveness in high-layer and high-density interconnect (HDI) fields over 30 years [1] - In 2023, the PCB business achieved operating revenue of CNY 3.022 billion and a net profit of CNY 178 million [2] Group 2: Short-term Performance - In the first half of 2024, the PCB market performed better than the same period last year, driven by rapid developments in data centers and artificial intelligence [2] - The company expects a net profit attributable to shareholders for the first half of 2024 to be between CNY 127 million and CNY 172 million, an increase of CNY 78.95 million to CNY 123.95 million, representing a year-on-year growth of 164.33% to 257.98% [2] Group 3: Product Development and Capacity - The company has established production capabilities for optical modules ranging from 10G to 800G, with 1.6T connectors and optical modules ready for mass production [3] - The planned HDI production capacity is 465,000 square feet per month, with the F3 factory contributing 350,000 square feet and the F7 Phase II HDI contributing 115,000 square feet [3] Group 4: Market Expansion and Strategy - Overseas business accounts for about one-third of the company's total revenue, with active efforts to expand into North America, Europe, Japan, South Korea, and other Asian regions [3] - The company is exploring strategic mergers and acquisitions to complement its PCB business in terms of market, category, and technology [4] Group 5: Financial Health and Cost Management - The company maintains a low debt-to-asset ratio, primarily relying on self-funding and bank loans for financing [4] - Recent increases in raw material prices, particularly copper, have been manageable and are being addressed through communication with the supply chain and customers [4]