High-end PCB demand surges, South Asia New Material's stock price hits a record high

MaticHoleFiller · 2026-03-28T17:01:47+00:00

South Asia New Materials' net profit is expected to reach 241 million yuan in 2025, a year-on-year increase of 378.65%. Benefiting from increased market demand, the stock price has hit a record high. Meanwhile, rising semiconductor material prices have intensified supply and demand tensions for high-end PCBs, and institutions are optimistic about the future development of the PCB industry.

MaticHoleFiller

2026-03-28 17:01:47

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(Source: Finance News)

          The company's net profit for 2025 is projected to be 241 million yuan, a year-on-year increase of 378.65%.

On March 24, at the end of trading, Nanya New Materials (688519.SH) saw its stock price hit the upper limit, reaching a maximum of 159.62 yuan/share, closing with an increase of 18.03%, marking a new historical high for the latest closing price. The performance report shows that the company’s net profit for 2025 is projected to be 241 million yuan, a year-on-year increase of 378.65%.

In terms of news, it has been reported that Japanese semiconductor materials giant Resonac has raised prices for CCL (copper foil substrates) and adhesive films by 30% since March 1; major electronic materials manufacturer Mitsubishi Gas Chemical has also followed suit by increasing prices for related materials, covering core upstream materials such as copper-clad laminates and semi-cured sheets for PCBs.

Institutions point out that as LPU/LPX cabinets enter peak production from the end of 2026 to 2027, the demand for high-end PCBs will experience explosive growth. This will further exacerbate the supply-demand imbalance for advanced HDI and high-layer PCBs, driving the entire PCB industry chain into a new round of expansion and upgrading cycles.

CITIC Securities’ research report states that since the beginning of 2026, the PCB sector has been relatively stagnant. Aside from the overall weak beta of computing power/AI, we believe market concerns mainly focus on application expansion disturbances, delays in upgrading and scaling, lagging performance realization, and the impact of rising material prices. However, we emphasize that the underlying growth logic of the AI PCB industry has not changed and is continually strengthening. We hold a relatively optimistic view on market concerns and see a dense potential for catalysts in the future, with visibility for incremental growth in the next two years continuously improving; at the same time, from a performance and valuation perspective, the performance expectations of leading companies are gradually being realized, and there is further room for valuation adjustments. At this point, we remain confident in the future upward momentum of the PCB sector.

A wealth of information and precise interpretations, all available on the Sina Finance APP.

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