Two stocks that saw their share prices double within a month, Guangdong Fenghua Advanced Technology(Holding)Co.,Ltd. and Baoding Technology Co.,Ltd., have just issued clarification announcements.
Guangdong Fenghua Advanced Technology(Holding)Co.,Ltd.: Denies Reports of Order Suspension and NVIDIA Certification On May 31, Guangdong Fenghua Advanced Technology(Holding)Co.,Ltd. announced that its stock price had recorded abnormal volatility, with the cumulative deviation of the closing price exceeding 20% over two consecutive trading days on May 28 and 29, 2026. As of May 29, the closing price was 53.03 yuan per share, with a rolling price-to-earnings ratio of 199.66 times, significantly higher than the industry average. The company responded to media reports, stating that claims of "halting all order acceptance" and "passing NVIDIA's full series MLCC certification" are untrue. The company has resumed order acceptance, and NVIDIA has not conducted any certification. Revenue from emerging markets accounts for no more than 15% of total revenue, and the company faces pressure from rising raw material costs. Investors are advised to be aware of the risks. In the secondary market, as of May 29, Guangdong Fenghua Advanced Technology(Holding)Co.,Ltd.'s stock had risen for ten consecutive days, with a gain of over 108% in one month and nearly 226% year-to-date.
On the news front, CITIC Securities predicts that by 2030, the proportion of MLCC shipments for servers in the global market will increase from 2% in 2026 to 5%-10%, with the market size share reaching 20%-30%. The compound annual growth rate is expected to be around 40%, indicating substantial growth potential for the industry. Regarding strategy, Founder Securities noted that AI servers are driving a shortage in MLCC supply, leading to signs of price increases. This presents an opportunity for domestic substitution of general MLCC products. Companies to watch include Guangdong Fenghua Advanced Technology(Holding)Co.,Ltd.. For upstream raw materials, attention should be paid to Sinocera Functional Material Co.,Ltd. and Boqian New Materials Co.,Ltd., and for consumables, Jmei Tech Co.,Ltd..
Baoding Technology Co.,Ltd.: No Contact or Business Cooperation with NVIDIA On the same day, PCB concept stock Baoding Technology Co.,Ltd. announced that its stock had experienced abnormal trading volatility, with the cumulative deviation of the closing price exceeding 20% over three consecutive trading days. The company clarified that recent online information about its products being included in NVIDIA's supply chain certification is false, and the company has had no contact or business cooperation with NVIDIA. The company's copper-clad laminate products are conventional products, with no AI-specific or high-speed laminates like M7 and M9 currently being sold. Its copper foil products are primarily standard copper foil, with ultra-low profile HVLP copper foil still in the customer certification stage. Revenue from this segment was approximately 100,000 yuan in the first quarter of 2026, accounting for only 0.01% of total revenue. In 2025, the company's copper-clad laminate and copper foil businesses incurred losses, with a net profit of -18.5099 million yuan. The company's fundamentals have not undergone significant changes, and investors are reminded to be aware of the risks. In the secondary market, as of May 29, Baoding Technology Co.,Ltd.'s stock price had risen by 162.5% in one month and nearly 250% year-to-date.
Currently, the non-linear growth in AI computing power construction is becoming a core driver for the PCB industry's expansion. Research from Sinolink Securities shows that the BOM (Bill of Materials) value for NVIDIA's VR200 NVL72 cabinet reached $7.803 million, an increase of about 95% compared to the previous generation GB300. Within this, the value of PCBs surged by 233% year-on-year, jumping from $35,100 to $116,700, making it the top gainer among non-memory categories. Dongwu Securities analysis indicates that imported copper foil equipment and electronic cloth equipment are currently in a state of supply shortage. It is optimistic about the opportunities for equipment localization driven by capacity expansion among domestic enterprises.