Avary Holding(SZ:002938)2025-11-21 07:32Group 1: Company Performance and Market Position - The company reported a total of 75,458 shareholders as of September 30, 2025 [3] - In October, the company experienced a slight year-on-year revenue decrease due to customer order timing, despite being in a peak production season [4][5] - The company has maintained a positive operating status, with a focus on enhancing internal value and market competitiveness [5][6] Group 2: Product Development and Market Opportunities - The company is actively entering the AI server market with high-end HDI products and has achieved product certification with certain well-known manufacturers [3][4] - The global HDI market is projected to grow by 12.9% in 2025, reaching a market size of $125.18 billion, with a compound annual growth rate of 6.4% expected from 2024 to 2029 [3] - The company has developed a comprehensive product matrix covering AI mobile phones, AI PCs, and AI glasses, positioning itself as a key player in the global AI supply chain [4][6] Group 3: Financial Health and Cash Flow - For the first three quarters of 2025, the company reported operating cash inflows of ¥28.669 billion and a net cash flow from operating activities of ¥4.259 billion, indicating stable cash flow management [6] - The company has established a value management system in accordance with regulatory guidelines to enhance shareholder rights and maintain a solid financial foundation [5][6] Group 4: Market Challenges and Strategic Responses - The company faces challenges from rising raw material prices and supply shortages, but has managed to mitigate these impacts through strategic partnerships and product innovation [3][4] - The stock price has been affected by market conditions and investor sentiment, but the company emphasizes its commitment to solid operational performance and risk management [5][6]