国金证券：关注M9材料的积极变化

Core Viewpoint - The report from Guojin Securities expresses optimism about AI-driven new materials, highlighting the positive expectations for industry growth as indicated by the recent TPCA SHOW [1] Group 1: Industry Outlook - Leading companies are expected to actively expand production to meet high demand [1] - The market will focus on the confirmation rhythm of solutions, usage volume, and price space due to supply tightness [1] Group 2: Material Upgrades - M9 is anticipated to bring material solution upgrades, such as copper foil potentially leaning towards HVLP4 [1] - Electronic fabrics are expected to evolve into Q fabric combined with second-generation fabric [1] - Resins are projected to shift towards hydrocarbon resins, influenced by the increased hardness of Q fabric, which may complicate PCB processing [1] Group 3: Equipment and Consumption - The demand for drilling needles as consumables is expected to rise, along with positive impacts on laser drilling [1]