DSBJ(SZ:002384)2025-10-23 12:08Group 1: Financial Performance - The company's softboard business experienced growth in Q3 2025 due to increased demand from new consumer electronics models, but profit did not grow due to insufficient capacity conversion in Thailand [2] - The hardboard business benefited from AI demand for high-layer and HDI boards, leading to increased revenue and profit [2] - Overall revenue increased, but profit did not grow primarily due to insufficient new capacity conversion and increased management expenses [2] Group 2: Business Development and Strategy - The first phase of capacity for Multek's AI PCB-related orders is expected to be ready by Q2 2026, with production ramp-up starting in Q3 2026 [2] - The company is actively expanding its domestic customer base in the new energy vehicle sector, with stable overseas shipments and gradual volume growth [3] - The acquisition of GMD is progressing as planned, and post-acquisition, the company will adjust its internal structure and optimize production capacity based on market dynamics [3] Group 3: Future Outlook - The softboard business in the Thailand factory has completed major customer validation, with production capacity expected to gradually release starting in H2 2026 [3] - The company is actively and orderly advancing the overall progress of its Hong Kong listing, with relevant proposals approved by the board on October 15, 2025 [3]