Core Viewpoint - Jiantao Laminated Board (01888) has seen a price increase of over 4%, currently trading at HKD 19.66 with a transaction volume of HKD 217 million, driven by strong pricing power and cost transmission capabilities in the copper-clad laminate market [1] Group 1: Company Performance - Jiantao Laminated Board's copper-clad laminate products exhibit strong pricing power and cost transmission ability, benefiting from a tight supply and rising copper prices, which are expected to drive both prices and profitability [1] - The company's revenue is diversified, with the top five customers accounting for less than 30% of total sales before 2024, and approximately 78% of revenue coming from non-related third-party markets [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 boost both prices and profitability in the sector [1] - The company is strategically expanding its production capacity for low-dielectric fiberglass yarn in Guangdong to alleviate capacity bottlenecks, responding to high-end communication demands in 5G, 6G, and AI server markets [1] - The full production of the latest copper foil capacity of 1,500 tons per month in Lianzhou, Guangdong, is aimed at meeting the surging 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]