中信证券：算力硬件迭代 高频高速树脂加速放量

Group 1 - The core viewpoint of the article highlights the strong growth of AI and the continuous increase in computing power demand [1] - Leading overseas companies are entering a phase of ramping up their computing power products, which is driving an increase in hardware shipment volumes and performance requirements [1] - As a critical component, PCB is experiencing enhanced material performance requirements, with high-frequency and high-speed resins like PPO and dual-mode BMI resin accelerating their market presence [1] Group 2 - Looking ahead, the direction of technological iteration suggests that electronic resins with superior dielectric properties, such as hydrocarbon resins and polytetrafluoroethylene resins, are expected to become new development trends [1]