WUS(SZ:002463)2025-05-06 08:48Group 1: Revenue Structure - In 2024, the revenue from the AI-driven server, data storage, and high-speed network infrastructure market is approximately CNY 10.093 billion, with AI servers and HPC contributing significantly [2] - The automotive board segment achieved a revenue of approximately CNY 2.408 billion in 2024, with emerging automotive products accounting for about 37.68% [3] Group 2: Market Trends and Opportunities - The demand for AI-driven servers and high-speed network infrastructure is expected to grow, with a projected improvement in capacity supply by the second half of 2025 due to increased investment in key processes [4] - The 800G switch market is anticipated to grow rapidly, with PCB products related to high-speed networks expected to see over 90% quarter-on-quarter growth in the second half of 2024 [5] Group 3: Automotive PCB Market Dynamics - The automotive PCB market is characterized by oversupply in the mid-to-low end, price competition, and fluctuating raw material costs, with a shift towards smart technology and L2-level assisted driving becoming prevalent [6] - Companies are focusing on deep collaboration with clients in areas such as new energy vehicle systems and autonomous driving to enhance technological capabilities and adapt to market changes [6] Group 4: Strategic Focus and Long-term Goals - The company emphasizes sustainable long-term benefits over short-term gains, maintaining a balanced client structure to adapt to market demands [7] - Continuous investment in technology and innovation is crucial for maintaining competitiveness in high-density integration and high-speed signal transmission [7]