Core Insights - The prices of electronic materials are expected to rise due to the dual impact of increasing international precious metal prices and surging demand for AI servers [1][4]. Group 1: Price Increases - South Asia plans to raise the prices of all copper-clad laminate (CCL) products and PP by 8%, effective from late November, in response to rising costs of international LME copper prices, copper foil processing fees, and electronic-grade fiberglass cloth [1][4]. - The demand for electronic-grade fiberglass cloth is currently outstripping supply, with Taiwan Glass confirming this situation while aiming to become the second-largest player in the high-end fiberglass cloth market by 2026 [1][4]. Group 2: Industry Dynamics - The CCL market is significantly influenced by the costs of raw materials, with copper foil accounting for approximately 42% of the total cost, followed by resin at 26% and fiberglass cloth at 19% [2][6]. - AI servers are a major driver of CCL demand, with the usage of CCL in a single AI server being three times that of a regular server [3][7]. - The competition and collaboration between AI giants like Google and NVIDIA are expected to further boost the demand for AI servers, thereby increasing the need for CCL [3][7]. Group 3: Future Outlook - The president of Formosa Plastics Group and chairman of South Asia, Wu Chia-Chao, indicated that while the fourth quarter performance may be uncertain due to seasonal factors, the outlook for next year appears more promising, with a focus on profitability rather than revenue [1][4]. - Despite the unpredictable market conditions for next year, a significant improvement is anticipated by 2027 [1][4].

台光电是台湾证券史上，第一档股价站上千元的PCB相关个股，上周五（1日）收盘价为1,120元、涨15 元。法人看好，随着CCL需求续强，台光电扩大美国投资，抢搭美国制造商机，将助攻营运。 铜箔基板（CCL）厂台光电（2383）昨（3）日宣布，加码投资美国加州全资子公司Arlon EMD 4,900万 美元（约新台币14.5亿元）。这是又一家重量级台湾企业扩大投资美国，该扩建计划预计2026年底在加 州营运。 台光电董事长董定宇表示，这项投资将强化公司在北美生产的产品组合，能更快速回应市场需求，亦能 降低风险并应对产能需求的激增。 台光电超前部署全球产能，2025年将完成中国大陆黄石、中山，以及马来西亚槟城厂区扩充，总产能提 升33%。2026年接续在桃园、昆山、中山投资新厂房及产能。马来西亚槟城也将在2026年启动产能扩 充，完成后总产能将再增近30%。 台光电表示，此次投资是在先前已投入的新作业系统、压合设备及其他硬体升级的基础上，再安装两台 新的上胶机、自动化硬体、化学混合设备及其他设施。Arlon EMD是美国专业材料制造商，加州制造基 地45年来为北美、欧洲、亚洲市场提供服务。 ...