SCC(SZ:002916)2024-05-20 10:52Business Overview - In Q1 2024, the company reported stable demand in the PCB business, with growth in wired switch and optical module orders, while wireless side orders remained unchanged compared to Q4 2023 [2] - The data center sector saw a continued increase in order demand, driven by the Eagle Stream platform and the rising need for AI accelerator cards [2] - The automotive electronics sector focuses on new energy and ADAS, with a significant portion of products used in cameras and radar devices [3] AI Impact - The evolution of AI is driving the ICT industry's demand for high computing power and high-speed networks, leading to increased requirements for high-frequency, integrated, and lightweight PCB products [2] - The company's PCB business is expected to benefit from trends in high-speed communication networks, data center switches, AI accelerator cards, and memory products [2] Packaging Substrate Business - The packaging substrate business maintained stable demand in Q1 2024, with BT-type substrates in steady mass production and FC-BGA substrates progressing in product line validation and sample certification [3] - The company is the largest domestic supplier of packaging substrates, with leading capabilities in BT-type substrates and advancements in FC-CSP products [3] Operational Efficiency - The overall utilization rate of the company's PCB and packaging substrate businesses has improved compared to Q4 2023 [3] International Expansion - The company is investing 1.274 billion RMB in a factory in Thailand to expand overseas market presence, with land purchase agreements signed and construction preparations underway [4] Raw Material Prices - From 2023 to Q1 2024, raw material prices remained relatively stable, although some prices for precious metals and certain board materials have increased recently without directly impacting operations [4]