HK Stock Market Move | TIANGONG INT'L(00826) rose over 6%, launching the expansion of production of ultra-fine grain PCB rods. The high growth in 3C demand is expected to bring high revenue growth.

TIANGONG INT'L (00826) rose more than 6% in the afternoon, with a 5.17% increase at the time of writing, reaching 3.46 Hong Kong dollars, with a turnover of 43.5777 million Hong Kong dollars. On the news front, TIANGONG INT'L's indirectly affiliated company, Jiangsu Tiangong Cemented Carbide Technology Co., Ltd., officially launched the construction project of "annual production of 300 tons of ultra-fine grain PCB cutting tool special bar stock and annual production of 100 million PCB milling cutters and 300 million PCB drilling needles" on July 7. This marks TIANGONG INT'L's official move towards the consumables field at the upstream end of the PCB industry chain. According to 21st Century Business Herald, according to information obtained from the supply chain, Apple has raised its production target for foldable screen new phones this year to about 10 million units, which is significantly higher than the market's previous expectation of 7 to 8 million units. Guotai Haitong's research report pointed out that if the follow-up of the PCB ultra-fine grain bar stock project is successfully put into production and introduced to downstream PCB cutting tool customers, the company is expected to start a new growth curve in the AI high-activity material field. In addition, the production of foldable screens is expected to drive demand for titanium alloy powder materials in the 3C industry. The bank expects that through the company's deep layout in the entire industry chain of titanium alloys in the consumer electronics field, the company has become a core raw material supplier for downstream 3C enterprises.