WUS(SZ:002463)2024-05-17 10:35Group 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, high-speed PCBs is driven by the growing needs for AI servers and high-speed network systems [2] - The AI application landscape is evolving, with significant growth expected in data from image, voice, machine vision, and gaming sectors over the next five years [2] - The traditional data center market is experiencing a slowdown, but overall demand for infrastructure investment is expected to rebound [2] Group 3: Automotive PCB Market - The penetration rate of new energy vehicles is increasing, leading to intensified competition and price wars in the automotive sector [3] - The automotive PCB market is characterized by a supply shortage in high-end segments and oversupply in mid-to-low-end segments [3] - The shift towards electrification and smart technologies in the automotive industry presents long-term growth opportunities for high-performance PCBs [3] 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 has been minimal [3] - The company is focused on innovation and optimizing product structures to mitigate the pressure from rising raw material prices [3] Group 5: Overseas Expansion - The company's subsidiary in Thailand is expected to achieve mass production by Q4 2024, addressing supply chain risk diversification [3]