南财投研通数据显示，8月14日，券商给予上市公司目标价共17次，按最新收盘价计算，目标价涨幅排 名居前的公司有海思科、万辰集团、伟星新材，目标价涨幅分别为48.00%、41.16%、38.89%，分别属 于化学制药、休闲食品、装修建材行业。 | | | | 08月14日目标价涨幅排名 | | | | --- | --- | --- | --- | --- | --- | | 加盟 | 证券名称 | 机构 | 最新评级 | 磨岩目挫代 (元) | 目标涨幅 (%) | | 002653 | 超音频 | 华泰金融控股(香港) | 玉) | 88.09 | 48.00 | | 300972 | 万辰集团 | 华泰全融控股(香港) | 派) | 212.66 | 41.16 | | 002372 | 伟星新材 | 中信证券 | 采入 | 15.00 | 38.89 | | 600050 | 中国联通 | 中信证券 | 派) | 7.10 | 31.97 | | 600519 | 贵州茅台 | 野村东方国际证券 | 増持 | 1880.85 | 31.81 | | 000690 | 宝新能源 | 华泰证券 | 派) | ...

华源证券研报指出，鼎泰高科为全球PCB刀具龙头厂商，钻针业务强势发展。AI服务器、高速交换机市 场规模持续扩大，PCB钻针需求量上涨。IDC数据显示，2024年全球人工智能服务器市场规模预计为 1251亿美元，2025年将增至1587亿美元，2028年有望达到2227亿美元。2025年第一季度（1Q25），全 球以太网交换机市场收入达到117亿美元，同比增长32.3%。随着AI服务器、交换机的市场规模扩大， PCB制造业对刀具及钻针的需求预计将持续增长。选取大族数控、天承科技、中钨高新为可比公司，鉴 于公司具有高端钻针生产能力、扩产灵活性强，首次覆盖，给予"买入"评级。 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage in the market [3][52]. Core Viewpoints - The company is recognized as a global leader in PCB tooling, with strong growth in its drilling needle business driven by the expanding AI server and high-speed switch markets [3][5]. - The demand for PCB drilling needles is expected to rise significantly due to the increasing complexity of PCB designs and the need for high precision in manufacturing [9][51]. - The company is enhancing its production capabilities through self-research and development of key equipment, which allows for cost reduction and improved production efficiency [5][36]. - The company is actively expanding its global footprint, particularly in Southeast Asia and Europe, to capture growing market opportunities [43][51]. Summary by Sections Market Performance - As of August 13, 2025, the company's closing price is 59.66 CNY, with a total market capitalization of 24,460.60 million CNY and a circulating market value of 4,237.29 million CNY [1]. Financial Forecast - The company is projected to achieve net profits of 4.28 billion CNY, 7.63 billion CNY, and 11.19 billion CNY for the years 2025 to 2027, with year-on-year growth rates of 88.59%, 78.27%, and 46.65% respectively [5][51]. - The expected price-to-earnings (P/E) ratios for 2025, 2026, and 2027 are 57.17, 32.07, and 21.87 respectively [5][51]. Industry Trends - The global AI server market is anticipated to grow from 125.1 billion USD in 2024 to 158.7 billion USD in 2025, driving demand for PCB tools and drilling needles [4][13]. - The transition to advanced materials in PCB manufacturing is leading to increased demand for drilling needles, as manufacturers aim to maintain low breakage rates [15][22]. Company Strategy - The company is focusing on self-research and development to enhance its production capabilities and reduce reliance on imported equipment, achieving significant cost savings [36][42]. - The establishment of overseas production bases, such as in Thailand, is part of the company's strategy to lower labor costs and improve raw material sourcing [43][51]. Product Development - The company is expanding its product offerings in functional films, with significant growth in demand for automotive light control films and explosion-proof films [44][51].

Group 1 - The core viewpoint of the report is that Ding Tai High-Tech (301377.SZ) is rated as a buy due to the expanding market for AI servers and high-speed switches, leading to increased demand for PCB drilling needles [2] - The demand for drilling needles is expected to double due to changes in electronic cloth materials aimed at maintaining a low breakage rate [2] - The frequency of needle replacement is increasing due to high multilayer designs, further driving the demand for drilling needles [2] Group 2 - The company is enhancing its production capacity flexibility through self-research and self-supply of equipment [2] - The performance of products is being improved by relying on self-developed coating materials [2] - The company is deepening its global layout, which is expected to stimulate its overseas potential [2] Group 3 - The development of membrane products such as automotive light control membranes, explosion-proof films, and anti-peeping films is gradually progressing [2]

Core Viewpoint - The PCB industry is experiencing continuous expansion driven by the demand for AI computing infrastructure, with major companies increasing production capacity to meet this demand [1] Group 1: PCB Equipment Market - The expansion in PCB production is primarily focused on high-layer HDI boards, leading to increased requirements for aperture size and corresponding rises in equipment quantity and prices [1] - Exposure equipment accounts for 10%-15% of the PCB equipment value, with high-end PCB boards requiring higher precision and line width, benefiting leading companies that secure top-tier clients [2] - Drilling equipment constitutes about 25% of the PCB equipment value, with the demand for laser drilling equipment increasing due to the limitations of traditional mechanical drilling methods as PCB complexity grows [2] Group 2: Key Companies and Developments - Domestic companies benefiting from the expansion include Chipbond Technology (688630.SH), Dazhong CNC (301200.SZ), and Tianzhun Technology (688003.SH) [2] - Major players in the drilling needle sector, such as Dingtai High-tech and Jinzhou Precision, are expanding production capacity in response to the rising demand for high-end drilling needles driven by AI server PCB upgrades [3] - The PCB electroplating equipment market is also evolving, with vertical electroplating equipment dominating and companies like Dongwei Technology (688700.SH) seeing significant order growth [4]

Investment Rating - The industry investment rating is "Overweight" indicating that the industry is expected to outperform the overall market [2][9]. Core Insights - The PCB industry is experiencing continuous expansion driven by the demand for AI computing infrastructure, with major companies like Huadian and Shenghong investing significantly in new projects [3]. - The expansion is primarily focused on high-layer HDI boards, leading to increased requirements for equipment quantity and pricing [3]. - The exposure segment of PCB equipment, which accounts for 10%-15% of the total equipment value, is seeing higher demand for advanced exposure equipment due to stricter requirements from high-end PCB boards [3]. - The drilling segment, which constitutes about 25% of PCB equipment value, is benefiting from the increasing complexity of PCB designs, with a shift towards laser drilling technology [3]. - The PCB drill needle market is experiencing growth due to the surge in AI demand, prompting manufacturers to expand production capacity [3]. - The electroplating segment, which represents around 10% of PCB equipment value, is seeing increased demand for high-end equipment as AI applications require thicker copper and finer lines [3]. Summary by Sections PCB Expansion - Continuous expansion in the PCB sector is driven by AI computing needs, with significant investments from leading companies [3]. Exposure Equipment - Exposure equipment is critical for high-end PCB production, with domestic companies improving their capabilities to meet rising demands [3]. Drilling Equipment - The drilling process is evolving with a shift towards laser technology, driven by the need for smaller apertures and tighter tolerances in PCB manufacturing [3]. Drill Needles - The demand for high-quality drill needles is increasing, with manufacturers ramping up production to meet the needs of upgraded AI server PCBs [3]. Electroplating Equipment - The demand for advanced electroplating equipment is growing, particularly for high-end applications in the AI sector [3].

Core Viewpoint - Ding Tai Gao Ke's stock price has shown a positive trend, reflecting strong market performance and investor interest in the company [1] Company Overview - Ding Tai Gao Ke's latest stock price is 52.53 yuan, up 1.53% from the previous trading day [1] - The stock reached a high of 53.96 yuan and a low of 51.21 yuan during the trading session, with a total transaction amount of 310 million yuan [1] - The company operates in the general equipment manufacturing industry, focusing on the research and production of precision tools such as PCB drill bits and milling cutters [1] - Ding Tai Gao Ke is recognized as a national-level specialized and innovative "little giant" enterprise, with products widely used in consumer electronics and automotive electronics sectors [1] Market Performance - Ding Tai Gao Ke has been included in the CSI 1000 index, which features stocks that have increased by over 100% year-to-date [1] - The CSI 1000 index has shown active performance since the third quarter, with approximately 81% of its sample stocks experiencing an increase [1]

关于为子公司向银行申请授信提供担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 证券代码：301377 证券简称：鼎泰高科 公告编号：2025-037 广东鼎泰高科技术股份有限公司 一、担保情况概述 广东鼎泰高科技术股份有限公司（以下简称"公司"或"鼎泰高科"）于 2025 年 4 月 21 日、2025 年 5 月 15 日分别召开了第二届董事会第十一次会议及 2024 年年度股东大会，审议通过了《关于向银行申请综合授信额度并提供担保 的议案》，同意公司及子公司广东鼎泰机器人科技有限公司、南阳鼎泰高科有限 公司（以下简称"南阳鼎泰"）、东莞市鼎泰鑫电子有限公司、东莞市鼎泰华南 采购服务有限公司、东莞市超智新材料有限公司（以下简称"超智新材料"）向 银行及其他金融机构申请额度不超过人民币 16 亿元的综合授信额度，在上述综 合授信额度内，公司及子公司为银行授信金额提供担保，合计担保额度不超过人 民币 16 亿元，担保额度可循环滚动使用。具体内容详见公司于 2025 年 4 月 23 日在巨潮资讯网（www.cninfo.com.cn）披露的《关于 ...

Investment Rating - The report maintains a "Positive" investment rating for the PCB industry [3][11]. Core Insights - The PCB industry is experiencing growth driven by strong demand from AI applications and technological upgrades, leading to increased capital expenditures in downstream sectors [8][21]. - The global PCB market is expected to see differentiated growth across product segments, with high-density interconnect (HDI) boards benefiting from AI server demand, projected to grow by 18.8% year-on-year to reach $12.5 billion in 2024 [11][12]. - The report highlights a trend towards high-density, high-performance PCB products, with the combined market share of HDI and packaging substrates exceeding 34% [11][12]. Summary by Sections PCB Product Overview - PCB products are categorized into rigid boards, flexible boards, rigid-flex boards, and packaging substrates, with HDI boards widely used in consumer electronics and high-frequency boards for 5G communication [8][9]. Market Segmentation and Growth - In 2024, the global PCB market is projected to reach $73.57 billion, with multilayer boards holding the largest share at 38.1% [11][12]. - The smartphone sector accounts for 19% of the PCB market, with a projected value of $13.89 billion, while the server/storage sector is expected to grow by 33.1% year-on-year to $10.92 billion [15][16]. Regional Market Dynamics - China is expected to dominate the PCB market, with its share increasing from 54.4% in 2023 to 56.0% in 2024, reflecting its significant role in global PCB production [22][23]. Technological Advancements - The report emphasizes the need for PCB manufacturers to adapt to higher complexity and performance requirements driven by AI and high-speed networking, necessitating advancements in design and manufacturing processes [21][24]. Equipment and Supply Chain - The report outlines the production processes and key equipment used in PCB manufacturing, highlighting the importance of drilling equipment, which holds the highest market share in the PCB production process [31][34]. - The global drilling equipment market is projected to grow from $1.17 billion in 2020 to $1.47 billion in 2024, with a compound annual growth rate (CAGR) of 10.3% expected from 2024 to 2029 [38][43]. Market Trends and Future Outlook - The PCB industry is expected to continue evolving with the increasing demand for high-density and high-layer count boards, particularly in AI server applications, which are pushing the boundaries of PCB technology [27][28].

以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 投资者：在HDI（高密互联）PCB制造领域，在精度、加工质量与可靠性和层间对准能力，激光钻孔技术都大幅领先机械钻孔，激光钻孔是HDI当前及未来的主流选择，AI/5G器件微型化，激光 证券之星消息，鼎泰高科(301377)08月01日在投资者关系平台上答复投资者关心的问题。 鼎泰高科董秘：您好！公司主营PCB钻针，但一直高度关注激光钻孔技术的发展趋势并同时有做好激光钻孔相关的技术储备。感谢您的关注！ ...