鹏鼎控股积极投入AI服务器及光模块市场 预计泰国园区将在四季度部分投产

Core Viewpoint - Pengding Holdings is actively investing in the AI server and optical module markets to establish a comprehensive AI cloud-edge ecosystem, while maintaining stable costs through the use of imported high-end copper-clad laminate materials [1][2]. Financial Performance - In the first half of the year, Pengding Holdings achieved total revenue of 16.375 billion, a year-on-year increase of 24.75%, and a net profit attributable to shareholders of 1.233 billion, reflecting a year-on-year growth of 57.22% [1]. - The increase in revenue is attributed to a higher proportion of consumer electronics and automotive products, which have higher gross margins compared to communication products [1]. Product Development and Market Strategy - The company is launching advanced HDI products for AI servers and automotive PCBs, with automotive server board revenue reaching 0.805 billion, a year-on-year increase of 87.42% [1]. - Pengding Holdings plans to invest a total of 8 billion in its Huai'an park to expand production capacity for SLP, high-end HDI, and HLC products, targeting the rapidly growing AI application market [2]. Production Capacity and Expansion - The first phase of the Thailand park is expected to be completed by May 2025, with partial production starting in the fourth quarter, focusing on AI servers, automotive, and optical communication sectors [2]. - The second phase of the Thailand facility has also commenced construction [2]. Raw Material Management - The company primarily uses imported high-end copper-clad laminate materials, which have relatively stable market prices, thus limiting the impact on overall costs [2]. - Pengding Holdings is enhancing cooperation with upstream raw material suppliers to ensure stable supply and is optimizing product structure through technological upgrades to mitigate the pressure from rising raw material prices [2]. Market Outlook - The demand for PCBs is expected to surge due to increased AI computing power, leading to a heated upstream materials market, although the price of copper-clad laminates remains uncertain due to fluctuations in copper prices [3].