Amid the AI wave, publicly traded companies related to PCB (Printed Circuit Board) are widely expected to experience substantial earnings growth.

Recently, Guangzhou Haozhi Electromechanical Co., Ltd. (Haozhi Electromechanical) released its 2025 performance forecast, projecting that its net profit attributable to shareholders reached between 128 million yuan and 165 million yuan last year, representing a year-on-year increase of 54.40% to 99.03%.

Haozhi Electromechanical stated that the significant growth in its 2025 net profit was driven by increased market demand for PCBs fueled by AI computing infrastructure and consumer electronics upgrades, coupled with accelerated domestic substitution and technological innovation. This led to a substantial rise in sales revenue for its specialized PCB processing equipment and various spindle products. Enhanced by economies of scale, product gross margins improved, overall operational capabilities strengthened, and profitability saw a major boost.

Shenghong Technology (Huizhou) Co., Ltd. (Shenghong Technology), in its recently issued 2025 performance forecast, estimated its net profit for the previous year to be between 4.16 billion yuan and 4.56 billion yuan, a staggering year-on-year increase of 260.35% to 295%.

Shenghong Technology attributed this high-speed growth to the continuous global expansion of AI infrastructure and computing demand. Leveraging its industry-leading technical capabilities, quality standards, delivery capacity, and global service, the company has become a core partner for numerous leading domestic and international tech firms. In key areas such as AI computing, data centers, and high-performance computing, several of its high-end products have achieved mass production, driving an upgrade in its product mix towards higher value and greater technical complexity. The proportion of high-end products has increased significantly, fueling the company's rapid performance growth.

Shenzhen Han's CNC Technology Co., Ltd. (Han's CNC) forecasts that its 2025 net profit attributable to shareholders will be between 785 million yuan and 885 million yuan, marking a year-on-year surge of 160.64% to 193.84%.

Han's CNC indicated that sustained increases in global investment for AI computing center infrastructure have spurred robust demand for high-layer count boards and high-layer HDI boards used in AI servers and high-speed switches. This has significantly boosted downstream PCB manufacturers' enthusiasm for capacity expansion, leading to a substantial increase in the market size for specialized PCB processing equipment. The company has seized this industry growth opportunity by continuously enhancing its product technology and actively expanding production capacity, resulting in a significant rise in operating revenue. Furthermore, an increased sales proportion of high-value products has further optimized the company's revenue structure, leading to steady profit growth.

AI computing power, or artificial intelligence computing capability, refers to the computational resources and processing power required to execute AI algorithms. A CICC research report suggests that high AI computing demand is driving volume and price increases in the PCB industry, with the AI-related PCB market size expected to reach $10 billion by 2026.

"The explosive demand for AI computing power is driving high performance growth for related PCB companies. This represents a structural boom fueled by the expansion of computing infrastructure, pushing up both PCB volume and prices. In particular, the supply-demand gap for high-end PCBs will support sustained profitability improvements for companies," said Ding Zhenyu, Senior Investment Advisor at Jufeng Investment.

Driven by AI computing demands, the PCB industry is entering a critical period of高端化 (high-end transformation) and technological iteration. Many listed companies are accelerating their capacity expansion步伐 (steps) to actively seize market opportunities. For instance, Wus Group Co., Ltd.'s expansion project for high-end printed circuit boards supporting AI chips commenced construction in late June 2025. The project is expected to begin trial production in the second half of 2026, gradually ramping up capacity.

Zhan Junhao, founder of Fujian Huace Brand Positioning Consulting, stated in an interview that the explosive growth in AI computing demand is driving high performance growth in the PCB industry, stemming from a surge in rigid demand for high-speed, high-frequency PCBs from AI servers and data centers.

Zhan Junhao further emphasized that PCB-related enterprises must focus on technological R&D as their core, tackling process and material challenges for high-frequency, high-speed, and high-layer-count boards. Simultaneously, they should upgrade high-end production capacity to meet the customized demands of the AI computing sector. Furthermore, these companies should deeply collaborate with leading computing chip and server manufacturers, participating in early-stage product development to establish dual barriers in technology and supply chain, thereby escaping low-end price competition and solidifying their advantage in the high-end market.