WUS(SZ:002463)2024-05-22 09:28Group 1: Financial Performance - The net profit attributable to shareholders for Q1 2024 is approximately 1.55 times higher than the previous year, showing a growth of about 155.11% [1] - The company achieved an operating revenue of approximately 5.15 billion RMB, representing a year-on-year increase of 157.03% [1] - Earnings per share reached 0.2694 RMB [1] Group 2: Industry Situation - The demand for high-layer PCBs is driven by the growth of AI applications and the need for high-performance computing servers [2] - The traditional cloud server market is experiencing a slowdown due to inventory digestion, but overall supply chain inventory levels are stabilizing [2] - The company plans to invest approximately 510 million RMB in a technology upgrade project for high-density, high-speed interconnect PCBs [2] Group 3: Automotive PCB Market - The penetration rate of new energy vehicles is rapidly increasing, leading to intensified competition and price wars in the automotive sector [3][4] - The automotive PCB market is characterized by a supply shortage in high-end segments and oversupply in mid-to-low-end segments [4] - The company aims to leverage its technological capabilities to optimize market positioning in the automotive PCB sector [4] Group 4: Raw Material Prices and Impact - Raw materials account for over 50% of the company's main business costs, and fluctuations in commodity prices can impact production stability and profitability [5][6] - The company is actively monitoring raw material price trends and maintaining communication with suppliers to mitigate cost pressures [6] Group 5: Currency Exchange Rate Impact - Approximately 85% of the company's revenue comes from exports, making it sensitive to fluctuations in the USD/RMB exchange rate [6] - The company employs strategies to manage exchange rate risks, including foreign currency structuring and derivative transactions [6]