PCB concept stocks are leading gains in the Hong Kong stock market. At the time of writing, KB LAMINATES (01888) rose 5.53% to HK$46.94; KINGBOARD HLDG (00148) increased 3.84% to HK$58.15; VGT (02476) advanced 3.21% to HK$386; DELTON (01989) gained 1.13% to HK$197. The catalyst is continued price increases by CCL (Copper Clad Laminate) manufacturers, driven by rising downstream demand and higher costs of raw materials such as electronic fabric and copper foil. On April 28, KINGBOARD announced a 10% price hike for CCL, marking its second increase within the month following a 10% rise on April 3. This fully demonstrates the strong cost-pass-through ability and smooth price transmission of leading CCL enterprises. Shanxi Securities points out that considering the AI-driven super cycle has strong sustainability and is expected to remain in a high-growth phase for the next 3-5 years, it will provide sustained robust demand for high-end CCL. The tight supply-demand balance for CCL is projected to persist until 2027 or even longer, suggesting there is further room for CCL price increases in the future.