Core Viewpoint - The stock price of Jiantao Laminated Board (01888) has shown a positive trend, with a current increase of 2.82% to HKD 19.31, driven by strong demand and favorable market conditions in the copper-clad laminate industry [1] Group 1: Company Performance - Jiantao Laminated Board's copper-clad laminates possess strong pricing power and cost pass-through ability, benefiting from a tight supply and rising copper prices, which are expected to drive both prices and profitability [1] - The company has a diversified customer base, with the top five customers accounting for less than 30% of total sales, and approximately 78% of revenue coming from non-related third-party markets, enhancing its bargaining power [1] Group 2: Industry Outlook - The current tight supply in the copper-clad laminate industry, combined with the upward trend in copper prices, is anticipated to positively impact both pricing and profitability [1] - The company is strategically expanding its production capacity for low-dielectric fiberglass yarn in Guangdong by 2025 to alleviate capacity bottlenecks, catering to high-end communication fields such as 5G, 6G, and AI servers [1] - The new copper foil production capacity of 1,500 tons per month in Lianzhou, Guangdong, is now fully operational, addressing the surge in demand for thick copper foil driven by data centers and cloud computing [1] - The vertical integration of the supply chain is expected to mitigate risks associated with fluctuations in upstream raw material prices, while high-value low-dielectric fiberglass yarn is likely to open new growth opportunities for the company [1]
建滔积层板盘中涨超4% 公司覆铜板具备较强议价能力