Core Viewpoint - Dazhu CNC is the largest PCB specialized equipment manufacturer globally, with a market share of approximately 6.5% in the global market and about 10.1% in the domestic market [1] Group 1: Company Performance - The product range covers almost all major processes in PCB production, including drilling, exposure, lamination, molding, and testing [1] - The overall revenue growth rates are 59.8%, 50.4%, and 32.7% for different segments [1] Group 2: Industry Trends - AI-driven high-layer/high-end HDI capacity expansion is maintaining a medium to high growth rate in PCB equipment demand [1] - The requirements for high aspect ratio through holes, back drilling precision, and processing efficiency have significantly increased due to AI PCB, driving the demand for high-end equipment [1] - The penetration rate of high-speed, low-loss materials (such as M9) in PCBs is increasing [1] - The progress of high-end equipment volume is exceeding expectations, and leading PCB manufacturers are increasing their capital expenditures [1]
研报掘金丨爱建证券：首予大族数控“买入”评级，AI驱动PCB升级，平台型设备龙头放量可期