Suntak(SZ:002815)2024-03-01 09:34Group 1: Company Performance and Capacity - The overall capacity utilization rate of the company is approximately 80%, with tight product delivery schedules due to order impacts on the Shenzhen and Jiangmen factories [2] - The company has a normal production operation, with order visibility generally around 3 months, and a rapid order growth in sectors like optoelectronics, automotive, and servers [2] - The company’s automotive electronics orders increased by 14% year-on-year in the first three quarters of 2023, with expectations for further growth in 2024 [4] Group 2: Financial Metrics and Inventory - Inventory impairment losses increased by CNY 5.434 million in the first nine months of 2023, primarily due to intensified market competition and declining product prices [3] - The company’s net profit has been improving quarter by quarter since May 2023, indicating a recovery in market demand [5] Group 3: New Projects and Developments - The Zhuhai Phase II project, which includes two new factories, is expected to begin trial production in the first quarter of 2024, adding a capacity of 60,000 square meters per month for high-layer PCB boards [3] - The subsidiary Puno Wei is focusing on advanced packaging substrates, having invested CNY 400 million in a new m-SAP production line, with the first phase successfully launched in Q4 2022 [4] Group 4: Market Trends and Material Costs - The prices of key raw materials, including copper-clad laminates and copper balls, have decreased compared to the same period last year, currently at historically low levels with minor fluctuations [3] - The company is assessing the impact of domestic industrial chain relocation on its operations and is considering capacity expansion in Southeast Asia [3]