金吾财讯 | 港股PCB概念回暖，截止发稿，芯碁微装(09630)涨10.73%，中国建材(03323)涨6.91%，胜宏科技(02476)涨6.57%，广合科技(01989)涨6.00%，建滔积层板(01888)涨4.12%，金安智能(00567)涨1.30%。消息面上，大同证券近日研究称，英伟达新一代VeraRubin平台步入密集拉货期，其架构革新对PCB的层数、材质及工艺要求实现了全面跃升，带动单台服务器PCB价值量显著提升。从台积电先进制程产能排产及供应链备货节奏来看，AI算力硬件的订单能见度已延伸至2027年，短期与中期需求均呈现持续超预期的强劲态势。在此背景下，AI服务器及高速交换机需求呈现爆发式增长，PCB板块迎来量价齐升的景气格局。目前国内多家AI PCB核心供应商产能利用率已触及历史峰值，在手订单饱满、满产满销，并正积极通过资本开支扩张产能以响应下游迫切需求，业绩高增长的确定性较强，正向盈利弹性有望持续释放。综上，持续看好PCB板块在价量共振下的业绩爆发力，同时建议关注核心算力硬件、半导体设备的配置机遇。
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