HK Stock Market Move | Shenzhen Hans CNC Technology (03200) rose more than 14% in the afternoon, as the high-endization of PCBs is expected to drive upgrades across the entire equipment process.

Shenzhen Hans CNC Technology (03200) rose over 14% in the afternoon, reaching 14.38% at the time of publication, priced at 103 Hong Kong dollars, with a transaction volume of 286 million Hong Kong dollars. On the news front, leading companies such as Victory Giant Technology, Wus Printed Circuit, Shennan Circuits, Shenzhen Fastprint Circuit Tech, and Shengyi Electronics have recently announced expansion plans worth tens of billions to over a hundred billion yuan. China Securities Co., Ltd. believes that the demand for computing power is becoming the most significant structural increment in the PCB industry, driving the upgrade of AI scenario PCBs to high-layer, high-density, high-speed, low-loss, and high-reliability platform products. The firm pointed out that the high-endization of PCBs is forcing the upgrade of the entire process equipment, and both equipment and consumables are expected to benefit significantly. CMSC released a research report stating that Shenzhen Hans CNC Technology has consistently exceeded expectations in performance over the past few quarters, making it one of the companies in the PCB equipment sector with the highest realization rate. Q2 once again surpassed market expectations, and we estimate that the Q2 net profit margin is likely to reach a historic high for a single quarter. We continue to be optimistic about the leading positions of mechanical drills (CCD) and laser drills (ultrafast) in drilling, as they move toward platform-based layouts, initiating a new round of high-quality growth.