Changes in Hong Kong stocks | PCB concept stocks have the highest gains, Google continues to raise capital expenditure, and the PCB industry chain is tightening across the board

The Zhitong Finance App learned that PCB concept stocks had the highest gains. As of press release, Jiantao Laminate (01888) rose 4.92% to HK$42.24; Shenghong Technology (02476) rose 4.23% to HK$236.4; China Building Materials (03323) rose 1.91% to HK$3.73; and Jiantao Group (00148) rose 1.56% to HK$52.

According to the news, Google's parent company Alphabet released its second-quarter earnings report. Revenue increased 24% year over year to 119.8 billion US dollars, and Google Cloud's revenue surged 82% to 24.8 billion US dollars. It is worth noting that in the second quarter, Alphabet's capital expenditure doubled year-on-year to 44.9 billion US dollars, and free cash flow fell to negative 5.9 billion US dollars; Alphabet raised its annual capital expenditure guidelines to 1950 billion to 205 billion US dollars, and it is expected that spending will continue to increase significantly in 2027.

Guolian Minsheng Securities pointed out that rising demand for AI computing power infrastructure is driving the overall tightening of the PCB upstream materials, MLCC and optical communication industry chains and starting a cycle of price increases. In the PCB sector, upstream materials such as resin, electronic cloth, and copper foil are in structural shortage due to factors such as prudent expansion of overseas production, conversion of high-end categories, and shutdown of Saudi factories. As of June '26, electronic cloth has completed 5 rounds of price increases, with a cumulative increase of 100%. DigiTimes quoted market sources as saying that the HVLP4 copper foil gap is expected to reach 1,500 tons in 2026, and is driving the price increase for the sixth time in the year.