On March 18th, Shenghong Technology recently issued a report detailing its investor relations activities, revealing that its fixed asset investment plan for 2026 will be capped at RMB 18 billion. These funds will be predominantly allocated to the construction of new facilities, the procurement of equipment, and the enhancement of automated production lines. In the realm of technological research and development, the company has successfully validated the electrical and thermal properties of M7 and M8 grade materials within its products. Furthermore, it is actively progressing through the certification process for M9 and M10 grade materials. The objective is to bolster the stability of high-frequency signal transmission, thereby catering to the requirements of next-generation AI chip architectures. Shenghong Technology is also heavily engaged in collaborative R&D endeavors for orthogonal backplane projects alongside its core clientele. This collaboration has enabled the company to enter the phase of proprietary technology accumulation ahead of schedule, aligning closely with the customers' plans for mass production. From a business strategy perspective, the company prioritizes key technological pathways for GPUs and CPUs, with a particular emphasis on the development of high-end AI, automotive electronics, and high-speed transmission sectors. Presently, it is tackling cutting-edge technologies, including PCIe6, Oakstream platforms, 800G and 1.6T high-speed transmission equipment, as well as 10mm thick boards for chip testing. Currently, Shenghong Technology boasts a substantial order book with excellent visibility. The company has also formulated its business strategy for 2026, with the aim of solidifying its partnerships with existing core customers, deepening strategic alliances with global tech behemoths, and further expanding the supply scale of core products such as GPU accelerator cards and TPU support boards.