The industrial chain volume and price rose together, with mixed performance in the PCB industry in the first half of the year.

After nearly half a month of correction, on July 14, the A-share PCB sector saw a strong rebound, with industry leaders such as Dongshan Precision, Hubei Electronics, and Shengyi Technology rising by the daily limit in the afternoon. According to interviews by Securities Times reporters, the PCB industry has recently been affected by rumors of delayed or even discounted orders from mining clients. However, the industry's prosperity is still on the rise, with the industry chain significantly increasing production capacity expansion. At the same time, upstream key raw materials such as electronic glass fabrics are facing capacity constraints, leading to price hikes spilling over from high-end products to mid-to-low-end categories. In addition, the ongoing wave of production expansion has exacerbated concerns about overcapacity. Looking at the first half of 2026 performance forecasts, the industry chain's profit differentiation characteristics are very clear. The overall performance of the copper-clad laminate sector is expected to be significantly positive, with Shengyi Technology currently leading in terms of profit scale. Companies such as Nanya New Materials, Huazheng New Materials, and Baoding Technology related to copper-clad laminates are also expected to see substantial year-on-year growth in performance. However, some PCB listed companies are experiencing declining performance due to factors such as price transmission lag and capacity ramp-up drag.