2025年年报披露尚未拉开帷幕，PCB行业部分A股上市企业已率先释放积极业绩信号，折射出产业链景 气度持续上升。 Choice数据显示，截至1月23日，已有约20家PCB概念股披露2025年度业绩预告，其中约八成实现净利 润增长，覆盖PCB产品、材料、设备等产业链上下游各环节。 金安国纪、胜宏科技等公司的净利润增幅预计超过250%。 万联证券发布研报称，2025年申万电子行业跑赢沪深300指数，估值略高于近年中枢，2025年前三季度 业绩向好，盈利能力有所提升。展望2026年，建议把握AI算力建设和终端创新的投资机遇。AI算力建 设方面，AI浪潮持续推进，算力关键硬件环节需求旺盛，建议关注存储和PCB等处于高景气的细分板 块，旺盛需求及资本开支加速带来的投资机遇。 PCB电路板相关产业链港股： 建滔积层板(01888)：国泰海通证券表示，2025年下半年以来，建滔8月、10月、12月月初已经提价三 次，12月再次提涨，月内两次提涨超预期。意味着AI景气驱动下全产业链进入良性提价周期。公司同 时布局铜箔、电子布和覆铜板，作为行业一体化龙头有望能全环节受益于涨价周期。 建滔集团（00148）：建滔集团发布公告称， ...

Group 1 - The core viewpoint of the news is that Kintor Group (00148.HK) expects a significant profit increase of over 165% for the fiscal year ending December 31, 2025, with net profit exceeding HKD 4.32 billion [1] - The profit growth is primarily driven by two segments: the investment business and the copper-clad laminate segment, with strong demand for copper-clad laminates and upstream materials leading to increased prices and sales [1] - Kintor Laminates (01888.HK), a subsidiary of Kintor Group, also forecasts a profit increase of over 80% for 2025, with net profit exceeding HKD 2.39 billion, benefiting from similar factors as the parent company [1] Group 2 - Copper-clad laminates are essential materials for printed circuit boards (PCBs), widely used in consumer electronics, communication devices, and automotive electronics [2] - Kintor Group is one of the largest manufacturers of copper-clad laminates globally, covering a complete industrial chain from upstream raw materials to finished products [2] - The PCB industry is experiencing improved market conditions, with Kintor Group's net profit expected to increase by 70% in 2025, driven by rising demand from AI and semiconductor sectors [2]

建滔集团在港交所公告，预计2025年录得的纯利较2024年同期上升超过165%，即纯利超过43.2亿港 元。报告期内，由于复铜面板及其上游物料包括玻纤纱、玻纤布及铜箔的需求畅旺，集团复铜面板及其 上游物料产品的单价普遍明显上升，以及销量较2024年同期录得增长，目前市场需求维持畅旺。 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 建滔集团（00148）发布公告，集团预计截至2025年12月31日止年度取得的纯利较2024年同期上升超过 165%，即纯利超过43.2亿港元。 预期集团于截至2025年12月31日止年度内的纯利大幅上升，主要由于集团投资业务呈报分部利润取得增 长，以及覆铜面板呈报分部利润取得增长。由于覆铜面板及其上游物料包括玻纤纱、玻纤布及铜箔的需 求畅旺，集团覆铜面板及其上游物料产品的单价普遍明显上升，以及销量较2024年同期取得增长，目前 市场需求维持畅旺。 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 建滔集团（00148）发布公告，集团预计截至2025年12月31日止年度取得的纯利较2024年同期上升超过 165%，即纯利超过43.2亿港元。 预期集团于截至2025年12月31日止年度内的纯利大幅上升，主要由于集团投资业务呈报分部利润取得增 长，以及覆铜面板呈报分部利润取得增长。由于覆铜面板及其上游物料包括玻纤纱、玻纤布及铜箔的需 求畅旺，集团覆铜面板及其上游物料产品的单价普遍明显上升，以及销量较2024年同期取 ...

格隆汇2月23日丨建滔集团(00148.HK)发布公告，集团预计截至2025年12月31日止年度录得的纯利较 2024年同期上升超过165%，即纯利超过43.2亿港元。 预期集团于截至2025年12月31日止年度内的纯利大幅上升，主要由于集团投资业务呈报分部利润录得增 长，以及覆铜面板呈报分部利润录得增长。由于覆铜面板及其上游物料包括玻纤纱、玻纤布及铜箔的需 求畅旺，集团覆铜面板及其上游物料产品的单价普遍明显上升，以及销量较2024年同期录得增长，目前 市场需求维持畅旺。 ...

预期集团于截至2025年12月31日止年度内的纯利大幅上升，主要由于集团投资业务呈报分部利润取得增 长，以及覆铜面板呈报分部利润取得增长。由于覆铜面板及其上游物料包括玻纤纱、玻纤布及铜箔的需 求畅旺，集团覆铜面板及其上游物料产品的单价普遍明显上升，以及销量较2024年同期取得增长，目前 市场需求维持畅旺。 智通财经APP讯，建滔集团(00148)发布公告，集团预计截至2025年12月31日止年度取得的纯利较2024年 同期上升超过165%，即纯利超过43.2亿港元。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 KINGBOARD HOLDINGS LIMITED 建滔集團有限公司 （於 開 曼 群 島 註 冊 成 立 之 有 限 公 司） （股 份 代 號：148） 盈利預喜 本公告乃建滔集團有限公司（「建 滔」，連 同 其 附 屬 公 司 統 稱「本集團」）根據香港 聯合交易所有限公司證券上市規則（「上市規則」）第13.09條及證券及期貨條例 （香 港 法 例 第571章）第XIVA部 內 幕 消 息 條 文 而 作 出。 建滔董事會（「建滔董事會」）謹 此 知 會 建 滔 股 東 及 潛 在 投 資 者，按 照 本 集 團 截 至 二零二五年十二月三十一日止年度未經審核管理賬目之初步評估以及建滔董 事 會 現 時 可 得 的 資 料，本 集 團 預 計 截 至 二 零 二 五 年 十 二 月 三 十 一 日 止 年 度 錄 得的純利較二零二四年同期上 ...

Group 1 - The Hang Seng Index rose by 0.43%, gaining 116 points to close at 27,299 points, while the Hang Seng Tech Index increased by 1.10% [1] - Xiaomi Group-W (01810) saw a rise of over 4%, with the new generation SU7 expected to launch in April [1] - The first-day listing of Xian Dao Intelligent (00470) increased by 0.44%, while fishing company Lexin Outdoor (02720) surged by 33% on its second day of trading [1] - The Kintor Group (00148) and Kintor Laminates (01888) experienced gains of 5% and 14% respectively, driven by expected high growth in copper-clad laminate performance by 2025 [1] - The precious metals sector saw gains, with Wan Guo Gold Group (03939) rising over 9% to reach a new high, benefiting from increased gold prices [1] - Tungsten prices continued to rise, with tungsten oxide increasing by 20,000 yuan per ton and ammonium paratungstate rising by 10,000 yuan per ton, leading to a surge of over 12% for Jiaxin International Resources (03858) [1] - China Duty Free Group (01880) rose over 5% following a strong start to the Spring Festival travel season for duty-free shopping in Hainan [1] Group 2 - Gilead Sciences-B (01672) increased by over 6%, with plans to submit an IND for ASC36 oral tablets for obesity treatment to the FDA in the second quarter [2] - Jinli Permanent Magnet (06680) rose over 7% as rare earth prices continue to climb, with institutions predicting a dual increase in valuation and performance for the sector [3] - Mongol Mining (00975) surged over 11% as its BKH gold mine ramped up production and dividend restrictions were gradually lifted [4] - Semiconductor Manufacturing International Corporation (00981) fell by 3.63% post-earnings, with Goldman Sachs indicating that its first-quarter gross margin guidance was below expectations [5] - Health 160 (02656) plummeted by 33%, retracting most of its gains for the year, with its total market value briefly falling below 20 billion HKD [6]

Group 1 - Gold stocks continue to rise, with significant increases in companies such as WanGuo Gold Group (up 9.39%), Zijin Mining (up 3.5%), and Lingbao Gold (up 7.24%), driven by fluctuating gold prices and rising interest rate cut expectations [1][2] - Zijin Mining has approved a three-year production plan for major mineral products from 2026 to 2028, outlining clear production targets [1] - China Duty Free Group reported a 14.71% year-on-year increase in duty-free shopping amounts, totaling 11.585 billion yuan since the policy adjustment [1] Group 2 - Mongol Mining shares rose over 15% during trading, reflecting its transition from a single coking coal producer to a multi-mineral producer, including gold and copper [2] - Semiconductor manufacturer SMIC reported a 12.8% year-on-year increase in Q4 2025 revenue, reaching $2.489 billion, with a 60.7% increase in attributable profit [2] - Health 160 experienced a significant drop of nearly 40%, with its market value falling below 20 billion HKD, indicating a major reversal in its stock performance [2] Group 3 - Xiaomi Group shares increased nearly 5% following a live broadcast by its founder, emphasizing ongoing investments in technology and product development [3] - Zhizhu shares rose over 10% this week, with a cumulative increase exceeding 70%, driven by the launch of a new anonymous model by OpenRouter [3] - Jiantao Group stocks rose due to increased demand for high-end copper-clad laminates driven by AI computing power [3] Group 4 - Jaguar Uranium's stock opened over 35% higher on its debut in the US market but later fell by 23.25%, indicating volatility in its initial trading [4] - NIO shares rose 1.43% as the CEO highlighted significant achievements and future plans for profitability by 2026 [4] - Sohu reported a 6% year-on-year revenue increase in Q4 2025, with a notable reduction in losses compared to the previous year [4] Group 5 - Ferrari's Q4 2025 revenue reached €1.8 billion (approximately $2.14 billion), exceeding expectations, with a positive outlook for 2026 [5] - Philips reported a 1% year-on-year sales increase in Q4, with adjusted EBITA surpassing market expectations, particularly in its personal health segment [5]

Group 1 - The stock prices of the Kintao Group and Kintao Laminated Board have increased significantly in early trading, with Kintao Laminated Board (01888) rising by 10.99% to HKD 18.69 and Kintao Group (00148) increasing by 4.16% to HKD 35.04 [1]