[Market Movement Analysis] SHENGLONG TECHNOLOGY (Hong Kong stocks) surged on September 18: PCB sector opened high + rising demand for AI computing power + mass production of high-end PCB + Goldman Sachs maintains buy rating

1. On the morning of September 18, the PCB concept sector opened higher. China National Materials achieved a price limit, with multiple related stocks following the rise; the Hang Seng Index opened up 0.49%, and the Hang Seng Tech Index rose by 0.41%. The sector linkage provided short-term catalysts for Shenghong Technology.
2. The company mainly engages in the R&D, production, and sales of high-density PCBs. Its products cover multilayer boards, HDI, and flexible circuit boards, which are applied in AI computing cards, data center UBB, switches, and other fields. Related products have already achieved large-scale mass production.
3. In the first half of 2026, the company achieved a revenue of 11.629 billion yuan and a net profit attributable to parent of 2.857 billion yuan, with year-on-year growth of 28.77% and 33.30% respectively; operating cash flow was 2.911 billion yuan, a year-on-year increase of 144.61%.
4. On September 2, Goldman Sachs released a research report maintaining a buy rating with a target price of 550 yuan, believing that the upgrade in AI PCB specifications will increase the value per board, and projects the company’s capital expenditure to be around 20 billion yuan in 2026.


(Disclaimer: This content is generated by AI summarizing publicly available information and is for reference only. It does not constitute investment advice.)