On June 25, Hans CNC (03200.HK) rose 4.45% in regular trading, trading at 188.5 HKD/share, with turnover of 86.93 million HKD. The stock extended its technical rebound after consecutive sessions of pullback driven by profit-taking and institutional selling.

On the news front, the PCB industry expansion wave continues to intensify, with 13 PCB manufacturers announcing capacity expansion plans this year, totaling nearly 59 billion yuan in investment. Leading manufacturers are concentrating capital toward high-end, high-speed, multi-layer production capacity, reinforcing equipment procurement demand. As the world's largest PCB-dedicated equipment supplier with approximately 6.5% global market share, the company stands to benefit from the AI-driven new equipment demand cycle. Its ultra-fast laser drilling equipment has secured order validation from core downstream clients.

Previously, Citi raised the company's H-share target price from 160 HKD to 252 HKD, citing the firm's supply of ultra-fast laser drilling equipment to SLP enterprises for 1.6T co-packaged optics applications, replacing Mitsubishi Electric CO2 solutions with lead times of up to 12 months. The prior pullback was triggered by Morgan Stanley and Schroders PLC reducing positions totaling over 47 million HKD, alongside the company's clarification that it does not directly produce drill bits or milling cutters.

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