ACCELINK(SZ:002281)2025-04-27 11:32Group 1: Business Impact and Market Demand - The company is actively addressing the impact of increased tariffs on optical modules by communicating with customers about cost-sharing and expanding overseas production capacity to mitigate effects [1] - Domestic demand for optical modules is expected to see significant growth compared to last year, driven by increased investment in computing power from domestic clients [2] - Overseas demand remains stable and is not showing signs of slowing down [2] Group 2: Financial Performance - The company's gross margin reached a historical high in Q1 2025, influenced by product mix, capacity release, and improved yield rates [2] - The gross margin for optical modules has also seen a noticeable increase [2] - The telecom segment's gross margin has declined year-on-year due to changes in product mix and lower sales prices, reflecting overall weak demand in the telecom market [2] Group 3: Asset Management and Procurement - Asset impairment losses are accounted for based on the age of raw materials and semi-finished products, with Q4 2024 and Q1 2025 impairments related to inventory turnover [2] - Imported optical chips are primarily sourced from Malaysia, Singapore, and Japan, while the proportion of domestic chips remains low [2] Group 4: Future Outlook and Strategy - The company aims to improve revenue and profit in 2025 compared to 2024, setting internal targets for higher performance [2] - The data communication business is expected to account for approximately 62% of the company's revenue in 2024, with further growth anticipated [2] - The global telecom transmission market is currently at a low point, but there is potential for improvement as inventory levels stabilize [3] Group 5: Technology and Product Development - The company has made early investments in silicon photonics technology, with a current monthly production capacity of 500,000 units, primarily focusing on short-distance applications [3] - Silicon photonics technology is expected to coexist with EML technology, with advantages in integration for certain optical modules [3]