Growth Drivers
· Explosive downstream demand: Rapid growth in demand for 5G devices, new energy vehicles (touch panels), and IoT devices.
· Policy support: The national 14th Five-Year Plan encourages localization of precision electronic components, promoting industry technological upgrades.
Major Risks
· Raw material price fluctuations: Stainless steel prices are significantly affected by international commodity markets. The increase in nickel prices in 2024 has led to increased cost pressures.
· Threat of substitutes: Capacitive touch technology's impact on traditional physical buttons is forcing dome switches to transition to high-end applications.
