WUS(SZ:002463)2025-06-24 08:04Group 1: Company Strategy - The company adopts a differentiated business strategy, dynamically adapting its technical and production capabilities to meet long-term market demands, focusing on major head customers [3] - The company emphasizes sustainable long-term benefits over short-term gains, maintaining a balanced customer base to ensure stable growth in a changing market environment [3] - Continuous investment in technology and innovation is crucial for maintaining competitive advantages in high-density integration and high-speed signal transmission [3] Group 2: Revenue Structure - In 2024, the company expects to generate approximately ¥10.093 billion in revenue from the enterprise communication market, with AI servers and HPC-related PCB products accounting for about 29.48% and high-speed network switch-related PCB products making up 38.56% [5] - The automotive sector is projected to achieve around ¥2.408 billion in revenue, with emerging automotive PCB products representing approximately 37.68% [5] Group 3: Production and Supply Chain - The Thailand production facility has commenced small-scale production, focusing on improving efficiency and stabilizing production yield while managing initial costs through refined cost control measures [6] - The company is accelerating customer certification and product introduction to validate its production capabilities for mid-to-high-end products [6] Group 4: Market Trends - The rapid development of AI is transforming the data center switch market, with a notable demand for 800G switches to support AI and high-performance computing clusters [7] - The growth in demand for AI-driven servers and high-speed network infrastructure presents significant opportunities, with the company increasing capital expenditures to enhance production capacity [8] Group 5: Future Outlook - The PCB market is expected to see new growth opportunities driven by the need for more complex and higher-performance products to support AI and network infrastructure [9] - The company must strategically allocate resources and invest in innovative areas to enhance product competitiveness and respond swiftly to market demands [9]