A-share Evening Highlights | Up to 13 times! PCB concept stocks post sharp earnings growth, with 10 stocks reporting collectively

**Evening Highlights** 1. **10 PCB concept stocks release Q3 reports together; two companies post net profit growth of over 10x** Importance: On October 27, 10 listed companies in the PCB supply chain collectively released their Q3 reports. Nanya New Material Technology and Goldenmax International saw their Q3 net profits grow by more than 10x year-on-year. Specifically, Nanya New Material Technology's Q3 net profit rose 1,296% year-on-year and 218% quarter-on-quarter; Goldenmax International's Q3 net profit rose 1,031% year-on-year and 105% quarter-on-quarter. In addition, Wus Printed Circuit and Guangdong Goworld saw their first-three-quarter net profits grow 106.87% and 97.52% year-on-year, respectively, with both companies' Q3 net profit growth rates significantly higher than their overall first-three-quarter levels. Sealand stated that with PCB supply chain Q3 reports landing in batches, price increase letters continuing to escalate, and Nvidia publishing its PTFE PCB supplier list, investors should watch the PTFE/mSAP process direction. Surging AI computing demand continues to tighten supply and demand for PCBs, MLCCs, analog chips, and power devices, with the price increase trend continuing; Q3 earnings delivery is expected to further reinforce this. 2. **"National team" holdings revealed: 15 A-share companies saw new positions or increased holdings by China Reform Holdings and China Chengtong in Q3** Importance: According to Cailian Press, based on incomplete statistics, as of press time, a number of A-share listed companiesincluding Sinoma International Engineering, Glarun Technology, Inner Mongolia MengDianHuaNeng Thermal Power Corporation, Accelink Technologies, Grinm Advanced Materials, Ningxia Orient Tantalum Industry, Fujian Funeng, China Shenhua Energy, Hygon Information Technology, Huaneng Lancang River Hydropower Inc., China Telecom Corporation, China Jushi Co., Ltd., China Coal Energy, JCET Group Co., Ltd., and Peric Special Gasessaw new positions or increased holdings by the two state-owned capital operating companies China Reform Holdings and China Chengtong in Q3. Among them, China Chengtong newly became the ninth-largest shareholder of Inner Mongolia MengDianHuaNeng Thermal Power Corporation in Q3; Guoxin Investment newly became the fifth-largest shareholder of Fujian Funeng in Q3. 3. **After consecutive sharp declines, Eoptolink Technology Inc. speaks out: Q4 shipments expected to grow substantially** Importance: An investor asked Eoptolink Technology Inc. on an interactive platform about the company's current order and shipment situation, capacity expansion progress, whether there is any undisclosed negative news, and what measures the company has taken to stabilize its share price and market value amid the recent sharp decline. Eoptolink Technology Inc. replied that the company's production and operations are normal, with ample orders on hand. The company holds a positive outlook on Q4 order demand and expects production and shipments to achieve substantial growth compared with earlier periods. Customer demand guidance and order conditions are currently good, and industry prosperity is expected to remain high. 800G and 1.6T are the main products delivered this year, with the ramp-up pace of 1.6T expected to further accelerate. 4. **Wuliangye Yibin's first-three-quarter net profit rises nearly 50%; single-quarter net profit falls more than 48%** Importance: Wuliangye Yibin announced that its revenue for the first three quarters of 2026 was RMB32.858 billion, up 7.25% year-on-year; net profit attributable to shareholders was RMB9.711 billion, up 49.98% year-on-year; net profit after deducting non-recurring gains and losses was RMB9.441 billion, up 46.18% year-on-year. The company attributed the high profit growth to a low base in the same period last year, effective sales measures during the Yuanxiao (Lantern Festival) period, and strong peak-season performance of core products. For Q3 alone, revenue was RMB4.442 billion, down 37.68% year-on-year; net profit attributable to shareholders was RMB958 million, down 48.25% year-on-year; net profit after deducting non-recurring gains and losses was RMB957 million, down 48.16% year-on-year. The company said the main reasons were weak market demand and lower sales volume of relevant products. 5. **AI chain still favored: Fu Pengbo and Jin Zicai increase positions in Zhongji Innolight** Importance: On October 27, Ruiyuan Growth Value, managed by Fu Pengbo, disclosed its Q3 fund report. The reporter noted that the fund significantly increased its position in Zhongji Innolight in Q3, while Contemporary Amperex Technology exited the top ten holdings. In addition, several funds managed by Jin Zicai of Caitong Fund also made notable position adjustments in Q3, among which Caitong Value Momentum also significantly increased its position in Zhongji Innolight, and funds including Caitong Growth Preferred Mixed and Caitong Craftsmanship Preferred One-Year Holding Mixed all bought Zhongji Innolight into their top ten heavyweight holdings. 6. **Corning Q3 core sales up 19% year-on-year, optical communications up 44%, Q4 sales guidance raised** Importance: Corning's core sales for Q3 2026 rose 19% to US$5.08 billion, and core earnings per share were 91 cents, both exceeding expectations. The company raised its Q4 core sales guidance to US$5.2 billion5.3 billion. Optical communications net sales surged 44% to US$2.379 billion, with Gen AI product sales doubling year-on-year, growing faster than GPU shipments. The company reiterated its goal of doubling annualized sales to US$40 billion by the end of 2030. 7. **Iran's Supreme Leader stresses implementation of Iranian conditions to push for ending the war** Importance: Iran's Supreme National Security Council Secretary and Major General Rezaei met with Iran's Supreme Leader Mojtaba Khamenei. Khamenei said that efforts should be made to safeguard the rights and interests of the Iranian people and the Axis of Resistance by implementing the relevant conditions proposed by Iranian officials, so as to end the war and the situation of "neither war nor peace." Rezaei said that the Supreme National Security Council Secretariat is advancing Iran's strategic policies, including "establishing regional arrangements and order led by the region itself." 8. **Foreign media say EU plans to reduce imports of relevant products from China; Foreign Ministry responds** Importance: On October 27, Foreign Ministry spokesperson Guo Jiakun hosted a regular press conference. A Bloomberg reporter asked that people familiar with the matter said the EU plans to take trade measures to reduce imports from China of chemicals, furniture, machinery, and other products, and that the measures may be launched in Q1 next year. What is China's comment? Guo Jiakun said that China has always believed that the essence of China-EU relations is partnership, and the underlying color of China-EU economic and trade relations is mutual benefit and win-win cooperation. The recent second regular meeting of the China-EU trade and investment consultation mechanism made positive progress, showing that the two sides can properly resolve economic and trade differences through dialogue and consultation. Strengthening dialogue and consultation on the basis of mutual respect and deepening economic and trade cooperation serve common interests and meet the general expectations of both sides' enterprises and people. China hopes the EU will respect the principles of market economy and fair competition, avoid abusing trade remedy tools, and take concrete actions to promote the healthy and stable development of China-EU relations. **Opportunities to Watch Ahead** The editor has sorted through market-watched investment opportunities and found that intelligent manufacturing and other sectors are drawing attention. 1. **Shanghai issues document! On accelerating the development of next-generation intelligent manufacturing, developing and promoting physical AI equipment** In addition, the following sectors are also worth watching: 2. **Solid-state batteries | Contemporary Amperex Technology: All-solid-state batteries are expected to achieve small-batch production in 2027.** 3. **Commercial space | The "Star Pivot Plan" aims to complete the deployment of 1,000 satellites by 2032 and achieve an annual output value of more than RMB100 billion in the computing power industry.** 4. **Third-generation semiconductors | Infineon will invest EUR1.1 billion in its Austrian plant, targeting mass production of 300mm gallium nitride power semiconductors.** **Listed Company Positive and Negative Announcements** For positive announcements, the editor highlights Gree Electric Appliances, Inc. of Zhuhai and several other companies' increased holdings and share buybacks; for negative announcements, note the Shanghai Stock Exchange's regulatory work letter to Shanghai Join Buy, among others. **Positive Announcements** 1. **Gree Electric Appliances, Inc. of Zhuhai:** Shareholder Jinghai Internet plans to increase its holdings by RMB600 million to RMB1.2 billion. 2. **GigaDevice Semiconductor Inc.:** Has cumulatively repurchased 3.0086 million shares, with payments totaling RMB1.115 billion. 3. **Dawning Information Industry:** Q3 net profit up 217% year-on-year; plans to repurchase RMB300 million to RMB500 million of shares for an employee stock ownership plan or equity incentive. 4. **Ingenic Semiconductor:** Q3 net profit up 2,595% year-on-year and 61% quarter-on-quarter. 5. **Anhui Tongguan Copper Foil Group:** Q3 net profit up 345% year-on-year, driven by higher copper foil product selling prices. **Negative Announcements** 1. **Shanghai Stock Exchange:** Issued a regulatory work letter to Shanghai Join Buy. 2. **Beijing Kingsoft Office Software, Inc.:** Q3 net profit down 72% year-on-year and 62% quarter-on-quarter. 3. **Yuandao Delisting:** Shares will terminate listing and be delisted on October 28. 4. **Sanan Optoelectronics:** Shares held by the controlling shareholder have been subject to successive freezing. 5. **Zhuhai Comleader Information Science & Technology:** Suspended from participating in procurement activities on the military procurement network. This article is reprinted from "Tencent Zixuan Stocks"; GMTEight editor: Jiang Yuanhua.