WUS(SZ:002463)2025-06-11 10:00Group 1: Company Overview and Strategy - The company focuses on differentiated product competition strategy, relying on technology, management, and service advantages to maintain competitiveness [2] - The company emphasizes long-term sustainable benefits over short-term gains, maintaining a balanced customer base among top clients [2][3] Group 2: Revenue Structure - In 2024, the company expects to generate approximately ¥100.93 billion in revenue from AI-driven servers, data storage, and high-speed network infrastructure, with AI servers and HPC-related PCB products accounting for 29.48% and high-speed network switch products for 38.56% [4] - The automotive sector is projected to achieve around ¥24.08 billion in revenue, with emerging automotive PCB products representing 37.68% [4] Group 3: Market Trends - The demand for 800G switches is driven by the rapid development of AI, indicating a significant transformation in the data center switch market [5] - The automotive PCB market faces challenges such as oversupply in the mid-to-low end, price competition, and fluctuating raw material costs, while also experiencing growth and increased competition [9] Group 4: Production and Investment - The Thailand production facility has commenced small-scale production, with efforts focused on improving production efficiency and stabilizing yield rates [6] - The company has increased capital expenditures to enhance production capacity, with approximately ¥658 million allocated for fixed assets and long-term assets in Q1 2025 [8] Group 5: Future Outlook - The company aims to enhance its technological capabilities and innovation to meet the growing demand for complex, high-performance PCB products driven by AI and network infrastructure [8] - Collaboration with industry partners is essential for advancing product technology and commercializing applications in electric vehicle systems [9]