WUS(SZ:002463)2023-09-26 09:44Financial Performance - The company achieved a revenue of approximately 37.63 billion RMB in the first half of 2023, a slight increase of about 0.23% year-on-year [1] - Net profit attributable to shareholders was around 4.93 billion RMB, reflecting a year-on-year decline of approximately 7.74% [1] - The PCB business gross margin was approximately 31.03% [1] Industry Overview - The traditional data center spending growth rate has declined, leading to reduced inventory levels and weakened new order demand [2] - The AI server and HPC-related PCB products are expected to see strong growth, with the company's revenue from this segment reaching approximately 21.81 billion RMB, a year-on-year decline of about 8.02% [2] - The proportion of AI server and HPC-related PCB products in the company's enterprise communication market revenue increased from approximately 7.89% in 2022 to about 13.58% in 2023 [2] Automotive PCB Business - The automotive PCB revenue reached approximately 11.02 billion RMB in the first half of 2023, a year-on-year increase of about 23.48% [3] - The share of emerging automotive PCB products, such as millimeter-wave radar and HDI-based autonomous driving assistance, grew from approximately 21.45% in 2022 to about 22.66% in 2023 [3] - The company is investing in high-end HDI products and enhancing production efficiency through automation and new technology applications [3] Overseas Expansion - The company has purchased approximately 201,846.8 square meters of land in Thailand for future project development, with mass production expected to commence in Q4 2024 [3] Currency Exchange Impact - Approximately 80% of the company's revenue comes from exports, making it sensitive to USD/RMB exchange rate fluctuations [3] - The company employs strategies to manage foreign currency exposure and mitigate exchange rate risks [3]