On September 10, HANS CNC rose 4.3% in regular trading, trading at HKD 111.1/share, with turnover of HKD 59.44 million, extending its recent strong performance.

On the news front, Citi issued a research report noting that Taiwan PCB equipment manufacturers posted 153% year-over-year revenue growth in August, setting a full-year record, signaling accelerating AI PCB equipment demand. Citi maintained a Buy rating on HANS CNC with a target price of HKD 189. Concurrently, the copper clad laminate (CCL) price hike cycle continues, with Panasonic raising prices by up to 30% on select products and Kingboard Laminates announcing 10%-20% increases, further validating the upward trajectory of the PCB industry chain.

Fundamentally, the company reported strong first-half results, with revenue of RMB 4.985 billion, up 109.29% year-over-year, and net profit attributable to shareholders of RMB 957 million, surging 263.45%. Second-quarter net profit alone reached RMB 634 million, up 96% quarter-over-quarter, driven by robust high-end AI PCB demand and sustained downstream capital expenditure expansion.

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