SCC(SZ:002916)2026-02-04 09:02Group 1: Financial Performance - The company expects a net profit attributable to shareholders of RMB 3.15 billion to RMB 3.34 billion for 2025, representing a year-on-year growth of 68% to 78% [1] - The projected net profit excluding non-recurring items is estimated to be RMB 2.99 billion to RMB 3.17 billion, with a year-on-year increase of 72% to 82% [1] Group 2: Business Operations - The company’s packaging substrate business serves a diverse range of clients, including IDM (Integrated Device Manufacturers), Fabless (semiconductor design companies), and OSAT (Outsourced Semiconductor Assembly and Test) manufacturers [2] - The overall capacity utilization rate for PCB (Printed Circuit Board) business remains high, with significant increases in the packaging substrate business due to rising demand in the storage market [3] Group 3: Production Capacity and Investments - The company has PCB factories located in Shenzhen, Wuxi, Nantong, and Thailand, with ongoing upgrades to existing facilities to enhance capacity [4] - The total investment in the Thailand factory amounts to RMB 1.274 billion, aimed at expanding overseas market reach and meeting international customer demands [5] Group 4: Market Trends and Material Costs - The demand for high-performance PCB products is increasing due to the accelerated evolution of AI technology, particularly in sectors like high-speed switches and AI accelerator cards [6] - Raw material prices, including copper and gold salts, have risen in the second half of 2025 due to fluctuations in commodity prices, impacting the company's cost structure [7] Group 5: Future Developments - The new land in Wuxi is designated for the storage of products related to PCB business capabilities, with investments to be phased based on business growth and market conditions [8]