展望未来，东台自今年第2季起，受惠AI服务器用PCB需求带动，客户对新机的采购意愿持续增强，预 期此购买动能将延续到2026年上半年。 台积电先进制程持续大扩产，带动印刷电路板（PCB）精密钻孔设备需求暴增，国内PCB设备大厂包括 东台（4526）、泷泽科、恩德、大量、志圣等，接单明显升温，针对最新的CoWoP封装制程，东台、 泷泽科也都表示，正密切关注并将展开相关制程的开发作业。 大量表示，下半年产能全满，目前续接的订单，交期排到明年。乐观看待今年营运朝正向发展，估较去 年成长八至九成。 东台集团近几年积极切入AI服务器设备制造领域，大部分AI服务器大厂，都有东台集团PCB钻孔机等设 备的身影；去年东台的PCB设备除了出货至泰国，也首次打进欧洲市场，未来三至五年，看好半导体设 备业绩占比提升。 据了解，过去20年东台售出近20万台PCB设备，切入PCB大厂供应链，AI伺服板也是东台的重要客户。 东台PCB钻孔机7至10月出货满载，连同工具机，在手订单约30亿元。东台指出，已有客户采用东台刨 平设备进行CoWoS制程加工，虽然CoWoP制程尚未正式导入，但东台持续密切关注，并投入相关制程 开发。 ...

Summary of Conference Call on PCB Industry and Company Developments Industry Overview - The PCB industry is experiencing significant technological upgrades, transitioning from standard multilayer boards to HDI boards, advanced HDI, inner-layer boards, and narrow boards. The demand for high-density and high-precision PCBs is increasing due to applications like data centers, with current HDI board hole diameters around 50 microns, and inner-layer and narrow boards reaching 20 microns or even smaller [2][5][9]. Key Companies and Developments - Domestic companies such as Dazhu CNC are making progress in the drilling machine sector, gradually catching up with Japanese monopolies. Dazhu CNC has captured a significant market share in ordinary mechanical drilling machines and is expanding into high-precision fields [1][4]. - Other domestic manufacturers like Shenghong, Shennan, and Huidian are also increasing their market shares, with high-end mechanical drilling and laser drilling machines accounting for 25%-35% of the market [1][4]. Market Trends and Demand - The AI boom is driving rapid growth in PCB industry demand, prompting manufacturers like Shenghong, Shennan, Huidian, and Jingwang to expand production. This expansion is boosting demand for upstream supply chains, including raw materials and production equipment [5][6]. - The demand for high-value-added PCB products, such as advanced HDI and multilayer boards, is leading to a general price increase of 10%-30% for equipment, with some customized equipment prices rising by over 50% [6][9]. Equipment and Technology - Key processes in PCB production, including drilling, electroplating, and exposure, are critical and have high value. Technologies such as laser drilling and vertical electroplating are essential, with companies like Dongwei Technology excelling in vertical electroplating equipment [7][8]. - Dongwei Technology has improved production efficiency and profit margins from 30% to over 40% through innovations like VCP and three-in-one equipment [8]. Future Outlook - The PCB industry is expected to have a development cycle extending at least two years, potentially up to three years or longer. The domestic replacement process is accelerating, with companies like Dazhu CNC making breakthroughs in key technologies, likely replacing imported equipment from Japan, Europe, and Taiwan [9][10]. - The typical order-to-delivery time for PCB equipment is six months to three quarters, which is faster than semiconductor equipment, allowing for quicker market response and production expansion [10]. Investment Opportunities - Investors should focus on the growing demand for equipment and materials in the PCB industry, as these areas are expected to see significant growth and are worth exploring for investment opportunities [14]. Additional Insights - Other important processes in PCB manufacturing include testing, soldering, and lamination, which, while not as high in value as drilling, electroplating, and exposure, are still critical for overall production quality [11][12]. - Companies are also exploring advancements in soldering processes, with efforts to optimize material selection and process parameters to address thermal stress deformation issues [12][13]. This summary encapsulates the key points from the conference call regarding the PCB industry and its key players, highlighting technological advancements, market trends, and investment opportunities.