HANS CNC (03200) rose more than 6% again. As of the time of writing, the stock was up 4.8%, trading at HK$148.3 with a turnover of HK$450 million. On the news front, a research report from Soochow Securities pointed out that the PCB equipment sector achieved rapid growth in performance for 2025 and Q1 2026, with full order books. In 2025, the PCB equipment industry experienced high growth, primarily benefiting from the intensive expansion of global AI computing infrastructure. The combined revenue of the top five companies—HANS CNC, Xinqi Micro, Kaige Precision Machinery, Dongwei Technology, and Dingtai High-Tech—reached RMB 11.6 billion, a year-on-year increase of 55%, while net profit amounted to RMB 1.855 billion, a year-on-year surge of 124%. Contract liabilities in Q1 2026 grew 104% year-on-year, indicating continued upward momentum in the industry's prosperity. Soochow Securities further noted that hardware iteration is driving incremental demand for PCBs. The NVIDIA Rubin architecture introduces a Midplane and CPX substrate, generating additional demand. The newly released LPU cabinet architecture at 2026 GTC increases the need for high-layer-count PCBs. In Google TPU servers, PCBs are predominantly high-layer-count boards, and in Amazon Trainium3 servers, PCBs also mainly consist of high-layer-count boards. The report suggests that the rapid rise in demand for GPUs and ASICs will drive volume growth in PCBs and push the industry toward higher-end development.