HK Stock Market Move | The computing power is on the rise, and both the volume and price of PCBs have increased. Circuit Fabology Microelectronics Equipment (09630) rose by over 14%, while Shenzhen Hans CNC Technology (03200) increased by over 8%.

PCB concept stocks strengthened this morning. As of press time, Circuit Fabology Microelectronics Equipment (09630) rose 14.26% to HKD 290; Shenzhen Hans CNC Technology (03200) increased 8.55% to HKD 97.75; DELTON (01989) was up 6.72% at HKD 104.8; KB LAMINATES (01888) gained 6% to HKD 31.8; and Victory Giant Technology (02476) rose 2.01% to HKD 187.70. In terms of news, a research report from Citigroup indicates that in August, the price of electronic cloth experienced its largest month-on-month increase of the year, with average prices for the 1080/2116/7628 series up by 17-18% (CNY 13.1/12.7/10.1 per meter), accumulating to a year-to-date increase of 118-165%; AI power supplies are crowding out traditional offerings, and costs are being transmitted to CCL. It is anticipated that Kingboard's CCL spot prices, including tax, may be further raised by 10-15% in August, nearly doubling the average price year-to-date. Dongguan Securities noted that both model manufacturers and CSP giants are increasing their computing power deployment efforts, with computing power trends improving. The generational upgrade of AI computing power hardware demands higher requirements for transmission speed, loss, and heat dissipation, driving PCBs toward higher density and performance. The technical difficulty for products with higher layers, higher levels, and more advanced materials is significant, and their value continues to increase. Subsequently, products such as orthogonal backplanes, mSAP, and CoWoP will accelerate market entry, further opening up the PCB market space.