Kunshan Dongwei Technology (SH:688700)2024-08-30 09:39Group 1: Financial Performance - The revenue structure has changed significantly compared to the same period last year, with PCB equipment accounting for approximately 65% of total revenue [1][3] - General hardware equipment represents around 15% of total revenue [3] - Revenue from the new energy sector has decreased significantly, now accounting for about 10% of total revenue due to slower industry advancement [3] Group 2: Profitability Insights - The net profit decline has exceeded the revenue decline primarily due to changes in product structure, with a significant drop in high-margin new energy equipment revenue [3] - Rising raw material prices have also contributed to the greater decline in net profit compared to revenue [3] Group 3: Business Outlook - The company is optimistic about the PCB equipment business, with new orders exceeding the total for the entire year of 2023 and expected to surpass the historical peak in 2021 [3][4] - The demand for HDI boards has surged, leading to increased orders for the horizontal plating three-in-one equipment, which has gained recognition and additional orders from clients [4] Group 4: Industry Trends - The composite copper foil industry is expected to grow, despite initial setbacks, with ongoing research and development aimed at improving material utilization and reducing production costs [4] - The company remains confident in the long-term development trends of composite copper foil due to its cost reduction, safety, and efficiency advantages [4]