WUS(SZ:002463)2024-05-14 09:24Group 1: Financial Performance - In Q1 2024, the company achieved revenue of approximately 2.584 billion RMB, representing a year-on-year growth of 38.34% [1] - The net profit attributable to shareholders was approximately 515 million RMB, with a year-on-year increase of 157.03% [1] - Earnings per share stood at 0.2694 RMB, reflecting a year-on-year growth of about 155.11% [1] Group 2: Industry Trends - The demand for high-layer printed circuit boards (PCBs) is driven by the growing needs in AI servers and high-speed networks, influenced by the rapid evolution of AI technology [2] - The automotive PCB market is experiencing intense competition due to the rise of new energy vehicles and price wars among traditional and new car manufacturers [3] - The penetration rate of new energy vehicles is expected to continue increasing, despite a potential slowdown in growth rates [2][3] Group 3: Strategic Initiatives - The company plans to invest approximately 510 million RMB in a technology upgrade project for high-density interconnect (HDI) PCBs aimed at enhancing product quality and production efficiency [2] - Continuous investment in technology and innovation is prioritized to meet future product and technology directions [2] - The company is integrating production and management resources to expand capacity in response to market demands [2] Group 4: Supply Chain and Material Costs - Over 50% of the company's main business costs are attributed to raw materials, including copper-clad laminates and copper foil [3] - Recent fluctuations in commodity prices have led to some increases in material costs, but the impact on operations remains minimal [3] - The company is focused on transferring or mitigating the pressure from rising raw material prices through innovation and optimizing product structures [3]