GOWORLD(SZ:000823)2022-12-04 08:28Group 1: Company Overview - The company, Guangdong Shantou Ultrasonic Electronics Co., Ltd., has a strong financial position with nearly 900 million in cash reserves, preparing for future investments [2] - The company’s product structure includes approximately 30% in consumer electronics and 40% in automotive electronics, with these ratios subject to seasonal changes [2] Group 2: Automotive Electronics - The proportion of automotive electronics has increased from around 15% to approximately 40% over the past two to three years [3] - The company is focusing on automotive electronic applications, including driving computers, navigation systems, and entertainment systems, which are expected to grow significantly with the rise of smart and new energy vehicles [3] Group 3: Production Capacity and Investment - The production capacity of the first PCB factory is 400,000 square meters, while the second factory has a capacity of 440,000 square meters, with both factories currently operating at full capacity [6] - The company plans to invest around 1 billion for new factory construction to expand production capacity, particularly for high-performance copper-clad laminates [3][4] Group 4: Financial Performance - For the first three quarters of the year, the touch display business achieved a net profit of nearly 15 million, while the copper-clad laminate business and PCB business reported net profits of approximately 35 million and 140 million, respectively [8] - The company experienced a foreign exchange loss of about 48 million from January to September due to the depreciation of the RMB [8] Group 5: Market Trends and Challenges - The automotive electronics market is considered to be in a growth phase, with significant future demand for PCB components and display touch devices [7] - The company is actively monitoring the market for 5G applications, recognizing it as an important future area for PCB development [5]