WUS(002463)2025-04-08 12:46Group 1: Impact of U.S. Tariffs and Market Dynamics - The company's direct export revenue to the U.S. is less than 5%, primarily exporting to Southeast Asia, and does not bear tariffs on products [3] - The PCB industry is mainly concentrated in Asia, with limited U.S. production capacity among competitors, making expansion difficult [3] - AI-driven demand in sectors like servers and data storage is expected to create growth opportunities, with significant investments planned to improve capacity by the second half of 2025 [3] Group 2: Strategic Planning and Market Outlook - The company remains optimistic about long-term structural demand in AI, high-speed networks, and automotive electronics, which are key growth drivers for the PCB market [3] - The Thai factory is set to enhance production capabilities for mid-to-high-end products, preparing for future market competition [3] - The Ethernet data center switch market is projected to exceed $180 billion from 2025 to 2029, indicating a strong growth trajectory [4] Group 3: Company Strategy and Resilience - The company adopts a differentiated strategy tailored to its circumstances, focusing on long-term sustainable benefits rather than short-term gains [4] - Maintaining a balanced customer base is crucial for stability in a changing market environment, with a focus on high-density integration and high-speed signal transmission [4] - The company emphasizes the importance of innovation and supply chain resilience to navigate uncertainties in the market [4] Group 4: Investor Engagement and Perception - The significance of the meeting may vary based on individual investor perspectives, influenced by objective facts or emotional factors [5] - The company's operational strategy is transparent, suggesting that the communication of its plans may not be as impactful as understanding investor sentiments [5]