HANS CNC (03200) rose more than 7%, with a gain of 7.58% to HK$127.8 at the time of writing. The trading volume reached HK$130 million.

A research report from Soochow Securities indicated that since the fourth quarter of 2024, increased capital expenditure by PCB manufacturers has driven performance realization for equipment suppliers. Drill bits with a 40:1 aspect ratio represent the segment with the highest elasticity, and it is recommended to monitor progress in related companies. The report suggests that the M9 Q cloth solution is generating demand for ultra-fast laser drilling. Compared to CO2 laser drilling, ultra-fast laser drilling offers two main advantages: stronger material compatibility for processing high-melting-point materials and finer micro-hole processing. The potential adoption of Q cloth as an interlayer material in orthogonal backplanes and midplanes is expected to spur demand for ultra-fast laser drilling, with industry leader HANS CNC being a recommended company in the drilling equipment sector.

Citigroup initiated coverage on HANS CNC with a "Buy" rating and a target price of HK$142. The bank noted that the H-share price of HANS CNC trades at an approximate 36% discount to its A-share average price over the past month, presenting a more attractive risk-reward profile. The firm is viewed favorably as a leading PCB drilling equipment manufacturer in China, benefiting from robust demand growth from AI PCB manufacturers such as Victory Giant Technology.