UNICOMP(SH:688531)2026-01-19 02:29Summary of Key Points from the Conference Call Industry Overview - Industry: Taiwan PCB & Laminates, specifically focusing on the ABF (Ajinomoto Build-up Film) and BT (Bismaleimide Triazine) sectors - Context: The conference call discusses the recent price adjustments in the ABF CCL (Copper Clad Laminates) and Prepreg sectors announced by Resonac Core Insights - Price Increase Announcement: Resonac announced a 30% price increase for all CCLs and prepregs, effective from March 1, 2026, primarily due to rising costs of T glass and other raw materials like copper foil [1] - Market Implications: The price increase indicates a server shortage in T glass, suggesting strong demand from AI-related chips with larger body sizes [1] - Cost Pass-Through: Downstream ABF substrate manufacturers are expected to pass through these costs and potentially earn premiums due to robust demand [1] - Future Price Trends: Anticipation of further price increases in BT CCL in upcoming quarters due to market tightness [1] - Sector Tightness: Observations of tightness in the ABF/BT sector, with expectations that more fabless companies may be affected by a widespread substrate shortage in the near future [1] - Outlook: The overall sentiment remains bullish on the ABF/BT sector, indicating positive growth prospects [1] Additional Important Points - Raw Material Costs: The price adjustments reflect significant increases in raw material costs, particularly T glass, which is critical for the production of ABF substrates [1] - Demand Drivers: The demand for AI-related chips is a key driver for the current market dynamics, influencing both pricing and production strategies in the sector [1] - Potential Risks: While the outlook is positive, the sector may face risks related to supply chain disruptions and fluctuations in raw material availability [1]