BROADEX(SZ:300548)2022-12-05 01:48Group 1: Supply Chain and Partnerships - The company's upstream chip supply mainly comes from foreign manufacturers for WDM and active products, while PLC product chips are now also sourced from domestic suppliers [1] - The company invested in KAIAM, a US-based supplier for AWG products, primarily for strategic cooperation to penetrate the North American data center market [2] Group 2: Market Trends and Business Impact - The market trend for DWDM devices and ROSA products depends on domestic operators' investment, with a notable shift towards 100G products in North America and continuous price reductions in high-speed optical modules [3] - The impact of 5G construction on the company's business is currently minimal, as the construction plans are still uncertain and depend on operators' trial network results [4] Group 3: Financial Performance and Inventory Management - Increased accounts receivable is attributed to higher ROSA sales, which is expected to normalize in Q3, while inventory growth is due to expanded operations and increased raw material stock, despite lower-than-expected sales of WDM products [5] Group 4: International Operations and Product Development - The establishment of the US office aims to serve existing customers, with future plans to develop new clients if new products are introduced [6] - The company focuses on product barriers related to customer certification and bidding results [7] Group 5: Procurement and Strategic Planning - The procurement model is primarily self-sourced, with a small share of customer-supplied components [8] - The company's two-year plan emphasizes strengthening the development of active products, expanding product categories, and deepening the development of passive products [9]