Core Viewpoint - Jiantao Laminates (01888) has shown a strong performance in the first half of the year, with significant increases in revenue and profit, driven by rising prices in the copper-clad laminate market and robust PCB demand [1] Financial Performance - Jiantao Laminates achieved a revenue of HKD 9.588 billion in the first half of the year, representing an 11% year-on-year increase [1] - The company reported a net profit of HKD 933 million, which is a 28% increase compared to the previous year [1] Market Trends - There has been a recent price surge in copper-clad laminates, with Jiantao, Wellybond, and Hongruixing all increasing prices by HKD 5-10 per sheet as of August 15 [1] - According to Kaiyuan Securities, Jiantao has already raised prices for copper-clad laminates in the second half of 2025, indicating strong PCB demand that may support price rigidity [1] Future Outlook - The company is expected to benefit from its accelerated capacity layout for high-end CCL and materials in 2026, with AI options likely entering a realization phase [1] - The actual contribution to financial statements is anticipated to be concentrated in 2027, leading to an upward shift in valuation [1] - Kaiyuan Securities maintains a "buy" rating on the stock [1]
港股异动 | 建滔积层板(01888)涨超5% PCB需求强劲 下半年业绩有望受益覆铜板提价