SCC(002916)2024-11-30 09:26Group 1: Company Overview - The company focuses on the electronic interconnection field, with three main businesses: printed circuit boards (PCBs), electronic assembly, and packaging substrates, forming a unique "3-In-One" business layout [2][4] - As of the first half of 2024, PCB business accounted for approximately 58% of total revenue, packaging substrates for about 19%, and electronic assembly for around 15% [2][4] Group 2: Packaging Substrate Development - Since 2008, the company has been incubating its packaging substrate business, starting from niche products and has become a pioneer in the field in China [4][6] - The company has established a wide range of packaging substrate products, including module packaging substrates and storage packaging substrates, primarily used in mobile smart terminals and servers [4][6] Group 3: Production Capacity and Projects - The Wuxi substrate phase II factory started production in late September 2022 and has achieved monthly breakeven [6] - The Guangzhou packaging substrate project phase I began production in Q4 2023, with rapid capacity enhancement ongoing [6] Group 4: Impact of AI on PCB Business - The acceleration of AI technology and its applications have increased demand for high-performance PCB products, particularly in high-speed communication networks and data centers [6][4] Group 5: Financial Performance - In Q3 2024, the company reported revenue of 4.728 billion RMB, an increase of 8.45% quarter-on-quarter, primarily due to increased project settlements in electronic assembly [6] - The overall gross margin slightly decreased due to changes in product structure and rising raw material costs [6]