On June 18, Shenghong Technology (02476.HK) rose 4% in regular trading, trading at HK$426.2/share, with turnover of HK$300 million. The rally was driven by multiple positive catalysts including Goldman Sachs' bullish outlook on the company's AI PCB business and the firm's denial of HDI product pricing rumors.

On the news front, Shenghong Technology explicitly denied market rumors claiming HDI prices had declined 50% year-over-year, stating that high-end product raw material prices remain stable with product pricing steady, and new product pricing negotiations proceeding smoothly. The company also disclosed capabilities in 100+ layer high-multilayer PCB and 10-stage 30-layer HDI technology, while advancing 14-stage 36-layer HDI R&D certification and CoWoP technology development. Goldman Sachs highlighted the company's strong AI PCB growth momentum, driven by robust GPU and ASIC AI server end-demand, timely capacity expansion, and strong R&D capabilities. Institutional forecasts project Q2 net profit of approximately RMB 2.141 billion, representing 75.2% year-over-year growth, with orders described as sufficient and production proceeding normally.

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