XINYA(SH:605277)2024-03-27 07:34Financial Performance - The company's overall gross margin has decreased due to changes in product structure after a major asset acquisition in October 2022, particularly in communication cables which have lower margins [3] - In 2023, sales of communication cables and data cables accounted for approximately 40%-45% of total sales, with high-frequency data cables contributing less than 3% to total revenue [3] Client Relationships - Amphenol is one of the company's top five important clients, primarily receiving high-frequency data cables and related consumer electronics and industrial control wires [3] - The company maintains good communication with major clients to facilitate product upgrades and meet evolving technical requirements [3] Product Development - The company is actively developing high-frequency data cables, currently mass-producing PCIe 5.0, with small batch production of PCIe 6.0 and ongoing research for PCIe 7.0 [3] - The production of high-frequency data cables requires meeting various performance indicators, necessitating specialized equipment and rigorous testing before delivery [4] Supply Chain and Production - The parent company produces fine electronic wires, which are processed into harness products by downstream manufacturers before being supplied to end customers [4] - The company has sufficient orders and production space, with ongoing installation and commissioning of equipment to meet customer demand for high-frequency data cables [5] Expansion Plans - The new factory from the fundraising project began operations in June 2023 and is currently in the capacity ramp-up phase [4] - Future expansion plans will be aligned with industry conditions, market demands, and the company's development strategy [5]