HK Stock Market Move | Jiantao continues recent upward trend, copper plate delivery period extended to a maximum of 6 weeks, supply and demand tension situation difficult to alleviate in the short term.

Jiantao continues its recent momentum, as of the time of writing, KB LAMINATES (01888) rose by 8.23% to 41.3 Hong Kong dollars; KINGBOARD HLDG (00148) rose by 6.81% to 49.22 Hong Kong dollars. On the news front, in recent days, due to a significant increase in demand in the PCB market, the delivery cycle of copper-clad laminates (CCL) has been extended from the usual 2 weeks to up to 6 weeks. These products mainly use low thermal expansion coefficient T-glass fiber, which can effectively suppress substrate deformation during high-temperature processes, thereby improving the accuracy of microcircuit manufacturing and the yield of large-area substrates. Substrate manufacturers are urgently adding orders to CCL suppliers, and the tight supply and demand situation is unlikely to ease in the short term. Shanxi released a research report stating that many leading copper-clad laminate companies have issued price increase letters. Considering the strong sustainability of this AI-driven super cycle, it is expected to remain in a period of high-speed growth for the next 3-5 years, thereby providing sustained strong demand for high-end copper-clad laminates. It is predicted that the tight supply and demand situation of CCL will continue until 2027 or even longer.