Group 1: Company Overview and Operations - Jiangxi Weiergao Electronics Co., Ltd. has established a new factory in Thailand, which commenced production in June 2024 with an initial design capacity of 1.2 million square meters per year. Currently, the first production line has a capacity utilization rate of 60% [2]. - The main products from the Thailand factory include automotive electronics and server power supplies, with a focus on high-layer boards achieving mass production [2]. Group 2: Market Position and Competitiveness - Weiergao holds a significant competitive advantage in thick copper and power products, with power products contributing a high proportion to the company's revenue. Major clients include Delta, Great Wall Power, and XP, with a stable and long-term partnership with Delta [2]. - The company anticipates rapid order growth in the second half of 2024 due to increasing market demand driven by artificial intelligence and new energy vehicles [2]. Group 3: Cost Structure and Supply Chain - Weiergao has obtained BOI certification in Thailand, allowing it to benefit from tax incentives. However, the company faces higher local material costs compared to domestic prices due to reliance on imports from China [2]. - The company is implementing cost reduction strategies through automation, material imports, and efficiency improvements, aiming for profit enhancement in the Thailand factory by 2025 [2]. Group 4: Future Plans and Strategic Initiatives - The company plans to continue its focus on power products and is actively researching and developing related technologies to capture more market share [3]. - Weiergao has a comprehensive capacity plan to meet market changes for server power products, ensuring readiness for customer-specific demands [3]. - In 2024, the company will implement equity incentives, with further plans for 2025 to be disclosed in official announcements [2].
威尔高(301251) - 2025年2月26日 投资者关系活动记录表