WUS(002463)2025-03-03 09:51Group 1: Company Overview and Market Position - The company focuses on PCB products for communication devices, high-performance servers, AI, data center infrastructure, and automotive electronics [2] - In 2024, 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 production expansion projects targeting AI-driven data center sectors [2] - The expansion aims to enhance market competitiveness and product supply capabilities in response to long-term demand for high-performance PCBs [2] Group 3: Automotive PCB Business Insights - The penetration rate of new energy vehicles is rapidly increasing, leading to intensified competition and price wars in the automotive sector [4] - The company leverages its long-standing expertise in communication and automotive electronics to enhance collaboration with clients in new energy vehicle systems [4] - Focus on R&D investment in key technologies to align with automotive industry trends and improve product adaptability [4] Group 4: Overseas Operations and Challenges - The company is advancing its Thailand subsidiary to mitigate supply chain risks and enhance operational capabilities [5] - Challenges include differences in legal, regulatory, and cultural environments, which require strategic management and training of local staff [5] - Efforts are being made to ensure stable operations and efficient production processes at the Thailand facility [5]