The Zhitong Finance App learned that PCB concept stocks had the highest decline. As of press release, Guanghe Technology (01989) fell 6.43% to HK$96.75; Dazu CNC (03200) fell 5.08% to HK$82.2; Shenghong Technology (02476) fell 3.32% to HK$174.8; and Jiantao Laminated Board (01888) fell 1.55% to HK$48.24.

According to the news, recently, the American Printed Circuit Board Association (PCBAA) officially pressured the US government and the Department of Defense to clearly put forward the core demand that the military supply chain completely eliminate Chinese PCB products. The US has set January 1, 2027 as the final deadline for the military supply chain to completely eliminate PCB products from related countries.

Dongwu Securities pointed out that the current US PCBAA claim only targets the military PCB field and does not involve commercial PCBs. The main global PCB production capacity and supply are basically dominated by China. The explosive demand for AI PCBs cannot be decoupled from China, and US production capacity alone cannot support it. Furthermore, the PCB industry is an asset-heavy industry, and it has a great impact on the environment. It is highly dependent on skilled workers, making it difficult for the industry to quickly decouple and transfer. In addition, most PCB companies in mainland China have built factories in Southeast Asia, so there is little risk of being restricted.

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