WUS(002463)2025-04-09 11:42Group 1: Impact of U.S. Tariffs - The company's direct export revenue to the U.S. is less than 5%, with primary exports to Southeast Asia, thus minimizing tariff impact [3] - The PCB industry is mainly concentrated in Asia, and the company does not foresee significant capacity expansion in the U.S. due to high difficulty [3] - The demand for AI-driven servers and high-speed network infrastructure is expected to grow, presenting opportunities for the industry [3] Group 2: Strategic Planning and Market Position - The company plans to maintain its existing strategies unless extreme circumstances arise, indicating confidence in long-term demand in specific application areas [3][4] - The company emphasizes a balanced customer base and sustainable long-term interests over short-term gains, focusing on high-value sectors [6] - The company is investing in key processes and bottleneck processes to improve capacity by the second half of 2025 [3] Group 3: Technological Development - The introduction of CPO will require significant adaptation across the supply chain, impacting PCB product specifications [5] - The company has a long-term focus on technological innovation and resource investment in high-density integration and high-speed signal transmission [6] Group 4: Investor Relations and Market Perception - Recent investor activities indicate a mixed perception, with significant net buying and selling among institutional investors [7][8] - The company expresses a desire for more direct communication with investors to understand their perspectives better [8]