Shengang Securities said that AI demand for high-end MLCCs is driving the production capacity of leading Japanese and South Korean manufacturers to shift production capacity to high-end specifications, and an increase in the penetration rate of intelligent driving. Domestic manufacturers are expected to benefit from order spillover and domestic share replacement, and domestic manufacturers with high-capacity, high-voltage, automotive-grade MLCC mass production capabilities are expected to take the lead in benefiting. The mid-year performance reports of leading domestic companies predicted a relatively good year-on-year increase. The prices of some MLCC products of the Sanhuan Group were restored to their original reasonable value, and sales volume and sales increased significantly year-on-year. Fenghua Hi-Tech has benefited from rising industry prosperity. Market demand for MLCC and other main products continues to grow, and sales volume and unit prices of the company's main products have increased year-on-year. It is recommended to focus on domestic MLCC leaders and materials companies Fenghua Hi-Tech, Sanhuan Group, Torch Electronics, and Boqian New Materials.

Shengang Securities said that AI demand for high-end MLCCs is driving the production capacity of leading Japanese and South Korean manufacturers to shift production capacity to high-end specifications, and an increase in the penetration rate of intelligent driving. Domestic manufacturers are expected to benefit from order spillover and domestic share replacement, and domestic manufacturers with high-capacity, high-voltage, automotive-grade MLCC mass production capabilities are expected to take the lead in benefiting. The mid-year performance reports of leading domestic companies predicted a relatively good year-on-year increase. The prices of some MLCC products of the Sanhuan Group were restored to their original reasonable value, and sales volume and sales increased significantly year-on-year. Fenghua Hi-Tech has benefited from rising industry prosperity. Market demand for MLCC and other main products continues to grow, and sales volume and unit prices of the company's main products have increased year-on-year. It is recommended to focus on domestic MLCC leaders and materials companies Fenghua Hi-Tech, Sanhuan Group, Torch Electronics, and Boqian New Materials.