VGT(SZ:300476)2025-07-31 10:38Group 1: Investor Relations Activities - The investor relations activities included a company tour, presentation by CEO Zhao Qixiang, and an interactive Q&A session with 96 participants from various investment institutions and media [1][2]. Group 2: Financial Performance and Projections - The company anticipates a potential increase in gross margin due to a higher proportion of high-value products and improved production efficiency [1][4]. - The company’s production capacity planning is primarily based on downstream customer demand and order forecasts [1][6]. Group 3: Technology and Industry Trends - The distinction between AI HDI and traditional HDI lies in their applications, with AI HDI supporting AI servers and requiring higher layer counts and thickness [4]. - Industry trends indicate a continuous reduction in unit power consumption and an increase in circuit density, leading to higher manufacturing requirements for PCB production [8]. Group 4: Competitive Landscape - The combination of technology and equipment is crucial for maintaining a competitive edge, with a typical 1.5-year timeframe for competitors to catch up under traditional processes [5]. - The demand for high-end production capacity is increasing, while supply remains relatively tight [8]. Group 5: Strategic Initiatives - The company plans to list on the Hong Kong Stock Exchange to support high-end capacity expansion, smart upgrades, and AI technology development, enhancing its global delivery capabilities [10][11]. - The listing aims to attract long-term global investors and improve the company's international influence and brand recognition [10][11].