According to the BOC Securities Research Report, Pengding Holdings Thailand is investing heavily in expanding AI production capacity, and the entire “cloud-management-end” industry chain is being promoted collaboratively. The company's current investment in the construction of a production park in Thailand is conducive to further expanding the production capacity layout of the company's AI product line, enhancing the company's technical strength and mass production capacity in the field of AI computing power, expanding the company's business scale, promoting technological and product upgrades for various product lines, and improving the company's operating efficiency. In addition, the company continues to increase computing power PCB production capacity, freeing up supply space. As demand for AI computing power grows, the company gradually enters a new peak of production expansion. In the next few years, as the company's new production capacity is released one after another, the computing power field will also become an important pillar of the company's development. The company achieved excellent operating results in the first three quarters of 2025, and the steady growth structure of each business line continued to be optimized. Considering the continuous optimization of the PCB structure of AI and other driving companies, the company's operations continue to improve. The AI industry chain layout is expected to be deeply collaborative, driven in both directions, and a new round of capacity expansion will slowly unfold. Maintain a “buy” rating.

According to the BOC Securities Research Report, Pengding Holdings Thailand is investing heavily in expanding AI production capacity, and the entire “cloud-management-end” industry chain is being promoted collaboratively. The company's current investment in the construction of a production park in Thailand is conducive to further expanding the production capacity layout of the company's AI product line, enhancing the company's technical strength and mass production capacity in the field of AI computing power, expanding the company's business scale, promoting technological and product upgrades for various product lines, and improving the company's operating efficiency. In addition, the company continues to increase computing power PCB production capacity, freeing up supply space. As demand for AI computing power grows, the company gradually enters a new peak of production expansion. In the next few years, as the company's new production capacity is released one after another, the computing power field will also become an important pillar of the company's development. The company achieved excellent operating results in the first three quarters of 2025, and the steady growth structure of each business line continued to be optimized. Considering the continuous optimization of the PCB structure of AI and other driving companies, the company's operations continue to improve. The AI industry chain layout is expected to be deeply collaborative, driven in both directions, and a new round of capacity expansion will slowly unfold. Maintain a “buy” rating.