HANS CNC (03200) saw its shares increase by more than 4%. At the time of writing, the stock was up 4.45%, trading at HK$138.4, with a turnover of HK$131 million. On the news front, leading PCB manufacturer Shengyi Electronics released its 2025 annual report last night. During the reporting period, the proportion of high value-added products increased, and its net profit grew by over three times year-on-year, reaching the best level since its listing. A recent Citigroup research report noted that a wave of capacity expansion among Chinese PCB manufacturers is about to begin. In 2025, only Shenghong Technology expanded its capacity among Chinese PCB makers. Other manufacturers that announced expansion plans between July and August 2025 are scheduled to commence their capacity increases from September to October 2026. Apart from Shenghong Technology, companies including Jingwang Electronics, Pengding Holdings, Shengyi Electronics, Dongshan Precision, Founder Technology, and Guanghe Technology all announced capacity expansions in 2025. Based on this, management anticipates that the proportion of revenue from HANS CNC's AI-related business will increase from approximately 30% in 2025 to about 60% in 2026, with Shenghong Technology contributing 20% and other manufacturers contributing 40%.