2025-09-26 02:28Summary of the Conference Call Company and Industry Overview - The conference call primarily discusses Luxshare Precision and its performance in the consumer electronics, communications, and automotive sectors, with a strong focus on its collaboration with Apple [2][3][8]. Key Points and Arguments Consumer Electronics - The iPhone 17 series has seen a significant year-on-year sales increase, with the first batch of 1.5 million units sold out in September. Expected sales for September are projected to reach 5 million units, with a year-end target of over 10 million units, representing an increase of over 5 million units year-on-year. Global sales are anticipated to rise by over 20 million units [2][3]. - Apple has requested its supply chain to increase the production of the iPhone 17 standard version by at least 30%, indicating strong market demand [2][3]. - Luxshare Precision is benefiting from Apple's investment in AI, with plans for a $500 billion investment in AI server factories in the U.S. expected to commence production next year [2][3][4]. Communications Sector - Luxshare has shown excellent performance in the communications sector, driven by the surge in AI computing demand and the need for high-speed connectivity. The company has made significant preparations in electrical and optical connection products, server power supplies, and thermal management solutions [2][5]. - The Upin Ultra next-generation server connection rate will increase to 448G, with a substantial rise in the number of connectors, enhancing Luxshare's market space in electrical connections [8][10]. Automotive Sector - Luxshare's automotive business is growing through both organic growth and acquisitions. The acquisition of the German wiring harness manufacturer Leoni is expected to contribute profits next year, with profit margins gradually recovering to the company's overall levels by the following year [3][9]. - The company has secured new project designations from several mainstream automakers for its T10,000 business, indicating a broadening of its automotive product line and customer base [9][10]. Additional Important Insights - Luxshare is actively collaborating with other edge AI manufacturers, including OpenAI, to advance edge AI device development, which may include robotics and other products [6][7]. - The overall outlook for Luxshare is optimistic, with strong growth potential across all business segments, particularly in consumer electronics and communications, while also expanding its footprint in the automotive sector [8][10][11]. - The company is currently viewed as undervalued, with expectations for significant performance and stock price growth in the coming years [10][11].