Core Viewpoint - 建滔积层板's stock has dropped over 7%, currently trading at 11.85 HKD, with a trading volume of 320 million HKD. The company reported a revenue of 9.588 billion HKD for the first half of the year, a year-on-year increase of 11%, and a net profit of 933 million HKD, up 28% year-on-year [1]. Financial Performance - The company achieved a revenue of 9.588 billion HKD in the first half of the year, reflecting an 11% increase compared to the previous year [1]. - The net profit for the same period was 933 million HKD, which represents a 28% year-on-year growth [1]. - The gross profit margin decreased by 1.3 percentage points due to the average selling price of laminates not fully covering the rising copper costs [1]. Market Outlook - 开源证券 indicates that the price of copper-clad laminates (CCL) has already begun to rise in the second half of 2025, supported by strong PCB demand, which may benefit the company's performance in the latter half of the year [1]. - The company is expected to accelerate its capacity layout for high-end CCL and materials in 2026, with AI options potentially entering a realization phase, driving an upward shift in valuation [1]. - 大华继显 has downgraded the stock rating to "Hold," suggesting that the current stock price reflects short-term growth potential, while maintaining revenue forecasts for 2025 to 2027 but reducing earnings estimates by 16%, 14%, and 9% respectively due to weaker average selling price increases [1].
港股异动 | 建滔积层板(01888)现跌超7% 公司覆铜板价格率先调涨 大行称股价已反映短期增长潜力