HK Stock Market Move | Chaozhou Three-Circle (Group) (06951) rose more than 15% on the second day of its listing, with slight differentiation in MLCC prices. High-capacity and ultra-high-capacity MLCCs continued to rise.

Chaozhou Three-Circle (Group) (06951) continued to rise on the day of its listing, with an increase of over 15% during trading. As of the time of writing, it has risen by 7.43% to 112.8 Hong Kong dollars, with a turnover of 5.59 billion Hong Kong dollars. On the news front, there have been reports recently of a decline in MLCC prices in the market. A reporter from the Shanghai Securities News interviewed MLCC agents for confirmation, and the agents generally indicated that prices of medium and low capacity MLCCs have indeed been adjusted downward, while prices of high and ultra-high capacity MLCCs have not decreased. Taking the example of the super high-capacity MLCC product "TCC0603X5R106M6R3CT" from Chaozhou Three-Circle (Group), a dealer in Huaqiangbei said they currently have no stock, with the last shipment made on June 17th this year at a price of 50 yuan/1000 pieces without tax; another dealer of Chaozhou Three-Circle (Group) holds stock of this product and quoted the latest price as 72 yuan/1000 pieces without tax, a significant increase from the price in mid-June this year. Guotou Securities International released a research report, stating that the vertical integration barrier of the Three-Circle industrial chain is unique in China, with an electronic ceramic IDM platform that integrates self-developed ceramic powder, self-made specialized equipment, and component manufacturing; AI computing power drives both the volume and price of MLCCs, with ample space for domestic substitution, and the company continues to expand production of high-capacity automotive and computing MLCCs; leading in multiple segmented industry tracks, with a global market share of 70%/85% in optical fiber ceramic inserts and MT multi-core inserts.