Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's performance in H2 2025 is expected to benefit from price increases, with a strong demand for PCBs supporting price rigidity. The net profit forecasts for 2025-2027 have been raised to HKD 24.5 billion, HKD 27.2 billion, and HKD 35.6 billion, representing year-on-year growth of 81.7%, 12.2%, and 30.8% respectively. The current market capitalization corresponds to a PE ratio of 15.6, 14.1, and 10.8 for 2025-2027 [4][5][6] Financial Summary and Valuation Indicators - Revenue for 2025 is projected at HKD 21.17 billion, with a year-on-year growth of 14.2%. The net profit for 2025 is expected to be HKD 2.45 billion, reflecting a significant year-on-year increase of 81.7%. The gross margin is anticipated to improve to 20.5% in 2025, with a net margin of 11.6% [7]
建滔积层板（01888）：港股公司信息更新报告：2025H2或受益于提价，2026年AI期权或逐步兑现