WUS(002463)2025-03-03 09:38Group 1: Company Overview and Market Position - The company's PCB products are primarily used in communication devices, high-speed servers, artificial intelligence, data center infrastructure, and automotive electronics [2] - In 2024, the communication sector accounted for approximately 74% of PCB revenue, while automotive electronics represented about 22% [2] - AI server and HPC-related PCB products contributed around 31% to the company's communication market revenue [2] Group 2: Business Development and Investment Plans - The company plans to invest approximately 4.3 billion RMB in new expansion projects in the second half of 2024, focusing on AI-driven data center fields [2] - This investment aims to enhance the company's market competitiveness and product supply capabilities in high-performance, high-reliability PCBs [2] Group 3: Automotive Sector Insights - The penetration rate of new energy vehicles is rapidly increasing, leading to intensified competition and price wars in the automotive market [5] - The company leverages its long-standing expertise in communication equipment and automotive electronics to collaborate with clients on new energy vehicle systems and autonomous driving technologies [5] Group 4: Overseas Operations and Challenges - The company is advancing its Thailand subsidiary to mitigate supply chain risks, focusing on the telecommunications and automotive sectors [6] - Challenges include adapting to Thailand's legal, regulatory, and cultural differences, which require skilled personnel and comprehensive training for efficient operations [6]