When we think about electronics, we picture the big processing chips. But around every chip sit thousands of tiny "basic" parts, so small you can barely see them — capacitors, inductors, resistors. They don't "think," but they keep the power steady, filter out noise, and make those expensive chips actually work. The star of this group is the MLCC — a ceramic capacitor made by the trillions each year, controlled by just a few companies in Japan, Korea, and Taiwan. And the era of AI and electric vehicles is making every device hungrier and hungrier for these parts.
Finansia Syrus recommends buying DELTA with a 290 baht target, expects third-quarter 2026 profit to reach 8.3 billion baht
Finansia Syrus Securities has issued an analysis recommending a buy on DELTA shares with a target price of 290 baht, expecting third-quarter 2026 profit to reaccelerate to 8.3 billion baht, up 37% from the previous quarter and 12% from a year earlier, supported by a recovery in gross margin after raw material problems eased. Meanwhile, demand for AI data center products remains strong and supports long-term growth. For fourth-quarter 2026 earnings momentum, profit is expected to hit a new high above 10 billion baht from deliveries of delayed orders, supporting 2026 profit of 32 billion baht, up 30% from a year earlier. For 2027, profit is expected to grow another 41% from a year earlier to 45 billion baht. Bond yields that have slowed are a sentiment boost for tech-growth stocks, with support at 235-232 baht and resistance at 248-250 and 259 baht.
Tisco raises electronics sector weighting to Overweight, highlights DELTA and HANA with Buy ratings
Tisco Securities has upgraded its investment weighting for the electronics sector to Overweight from Neutral, citing better-than-expected data center CAPEX spending in 2026, stronger second-half trends across all companies, and the sector's underperformance of 33% relative to the market in the recent period, which it believes has already priced in much of the market's remaining concerns. The research team raised its recommendation on DELTA to Buy with a fair value of 282 baht, after the market has already absorbed negative factors. Although raw material shortages, uncertainty over royalty fees, and the recent bond issuance by parent company Delta Taiwan remain pressures in the second half, the 37% decline in the share price is believed to have already reflected downside risks. Meanwhile, HANA was upgraded to Buy with its fair value raised to 61.50 baht, reflecting greater confidence after HANA passed all qualification requirements from end customers to generate AI revenue in the third quarter of 2026, with new HDI PCB expected to be a significant revenue driver in 2027. KCE retains its Hold rating with a fair value adjusted to 60.25 baht, as the share price has fully reflected its prospects, with humanoid robots and capacity expansion being the clearest supporting factors for 2028.
Vishay Intertechnology Shares Rise After Oppenheimer Initiates With Outperform
Oppenheimer analyst Christopher Glynn initiated coverage on Vishay Intertechnology with an Outperform rating, sending the semiconductor manufacturer's shares up 2.5% in the morning session. An Outperform rating indicates the analyst expects the company's shares to outpace the average return of the broader market or industry benchmarks over a given timeframe. After the initial pop, the shares cooled down to $31.12, up 1% from the previous close. Vishay Intertechnology is up 104% since the beginning of the year, but at $31.12 per share it is still trading 52% below its 52-week high of $64.90 from June 2026. Investors who bought $1,000 worth of the shares 5 years ago would now be looking at an investment worth $1,471.
Murata Manufacturing announces discontinuation of some MLCC products; Fenghua Advanced Technology hits daily limit in afternoon trading with turnover near 10 billion yuan
MLCC leader Murata Manufacturing has officially issued a notice announcing a product line optimization starting in fiscal year 2026, under which it will discontinue some MLCC products and expand other capacity. The discontinuation covers specific part numbers in consumer-grade standard series and automotive specification series. Affected by the news, the MLCC concept rallied again on the afternoon of September 11, with Yunzhong Technology up more than 18 percent. Earlier, Shuangxing New Materials hit the daily limit, and Hongming Electronics, Torch Electron, Sinocera Materials, and Three Ring Group surged quickly. Among them, Fenghua Advanced Technology rose rapidly in the afternoon to hit the daily limit, closing at 55.99 yuan per share, with turnover of nearly 10 billion yuan and a latest market value of about 64.25 billion yuan. On the earnings front, Fenghua Advanced Technology's 2026 semi-annual report showed that the company achieved operating revenue of 3.5 billion yuan in the first half of the year, up 26.28 percent year on year, and net profit attributable to the parent of 290 million yuan, up 74.01 percent year on year. Net profit attributable to the parent after deducting non-recurring items was 288 million yuan, up 68.84 percent year on year. In terms of industry supply and demand, since 2026, accelerated construction of AI computing power servers, rising penetration of new energy vehicles, and recovering consumer electronics demand have jointly driven continued growth in demand for passive components such as MLCCs, chip resistors, and inductors. Global MLCC leaders have raised prices one after another. Murata Manufacturing announced it would raise prices of high-end MLCCs by 15 to 35 percent, and Samsung Electro-Mechanics announced a uniform 30 percent increase in shipment prices for all MLCC categories starting August 1. In addition, on September 1, Samsung Electro-Mechanics announced that it had signed an MLCC supply contract worth 1.07 trillion Korean won with a well-known global customer. The products are for AI servers, with a supply period covering all of 2027, and the contract amount accounts for 21 percent of the annual revenue of Samsung Electro-Mechanics' MLCC business division.
Kingboard Laminates issues seventh price increase this year; PCB theme strengthens as Goldenmax hits limit up
Three major copper-clad laminate producers have raised prices in succession, driving PCB-related stocks to strengthen against the market trend. At the end of August, Kingboard Laminates issued its seventh price increase letter this year, raising FR-4 copper-clad laminate prices by 10 percent across the board, adjusting prepreg prices by specification, and raising thin fabric prices by up to 20 percent. Panasonic then announced it would raise copper-clad laminate prices from September 1, with some products up by as much as 30 percent, and Nan Ya Plastics followed with increases of 20 to 25 percent. Boosted by this, Goldenmax International surged to its daily limit up, closing the morning session at 76.45 yuan, with more than 180,000 lots locked on the limit-up board, turnover exceeding 3.7 billion yuan, and a total market value of 55.6 billion yuan. Yihao New Materials rose by the 20 percent daily limit, GD-Goworld posted a strong run of two limit-up moves in four sessions, and Sihui Fushi, Sdic, and Wanyuan Tong rose more than 10 percent, while China Jushi and Founder Technology also advanced. According to a China Securities Journal report on September 9, several electronic fabric companies and downstream copper-clad laminate producers said the market has shown relatively good acceptance of the new round of price increases, that electronic fabric supply is somewhat tight, and that leading companies are actively expanding capacity, with new projects expected to come on stream this year and next, at which point price trends will need further market confirmation.
Huaci Shares Clarifies MLCC Powder Rumors: Supply to Chaozhou Three-Circle Still in Small-Volume Verification Stage
Huaci Shares issued an urgent clarification announcement on the evening of September 15, addressing market rumors one by one regarding MLCC powder, zirconia business, the Wuxi semiconductor precision ceramics industry seminar, and the commissioning of its Vietnam plant. The company made clear that the MLCC-related powder supplied to Chaozhou Three-Circle is still in a small-volume verification stage, has not yet achieved batch supply, and has not generated stable sales revenue. In the first half of 2026, the entire advanced ceramics segment posted operating revenue of only 6.64 million yuan, accounting for just 1.15 percent of total revenue, mainly from zirconia grinding microbeads and dental ceramics. The announcement also clarified that the Wuxi semiconductor precision ceramics industry seminar held on September 12 was led by one of the company's shareholders, Times Bole, and was an open industry technical exchange event. Although Chairman Xu Junqi attended and delivered remarks, no undisclosed material information was revealed, and no agreements were signed or order intentions reached during the meeting. Regarding overseas expansion, the company confirmed that the Vietnam ASEAN Ceramic Valley project was ignited and put into production on September 9, 2026, but stressed that there is a capacity ramp-up cycle from production start to full capacity. Although the first phase has indicative orders, they do not equate to locked-in, definitive sales contracts. The backdrop to this clarification is pressure on company performance: in the first half of 2026, operating revenue was 576 million yuan, down 20.77 percent year on year; net profit attributable to the parent was 103 million yuan, down 14.18 percent; and non-GAAP net profit was 75.77 million yuan, down 31.42 percent. The company said the revenue decline was mainly due to EU anti-dumping measures and the cancellation of export tax rebates. In the first half, export revenue was 399 million yuan, accounting for 69.35 percent of total revenue.
Taiyo Yuden's Q1 Operating Profit Up 53%, but Stock Volatile, PER at 40x
Taiyo Yuden's stock price rebounded on August 28, closing at 9,244 yen, up 3.9% from the previous day. The company's first-quarter results for the fiscal year ending March 2027 showed operating profit of 4.8 billion yen, up 53.3% year-on-year, but the stock rebound came after a decline of over 20% in the past month, and the recent PER stands at 40.28 times, with PBR at 3.27 times, indicating a high valuation. The full-year forecast is for operating profit of 45 billion yen, up 125.0% from the previous fiscal year, but the first-quarter progress rate is only slightly over 10%, with the recovery in the latter half being a prerequisite. The company plans to cultivate inductors as a second pillar in addition to its mainstay multilayer ceramic capacitors.
Sunlord Electronics' first-half net profit attributable to parent surges 493.3% year-on-year to 503 million yuan
Sunlord Electronics announced its 2026 interim report on August 28. First-half operating revenue was 8.72 billion yuan, up 121.6% year-on-year; net profit attributable to the parent was 503 million yuan, up 493.3%; net profit attributable to the parent after deducting non-recurring items was 501 million yuan, up 501.3%; net operating cash flow was negative 1.458 billion yuan, down 116.4% year-on-year; earnings per share were 0.7326 yuan. In the second quarter, operating revenue was 4.93 billion yuan, up 135.1% year-on-year; net profit attributable to the parent was 247 million yuan, up 411.8%. As of the end of the second quarter, the company's total assets were 12.201 billion yuan, up 30.1% from the end of the previous year; net assets attributable to the parent were 2.834 billion yuan, up 16.8% from the end of the previous year. The company said that, driven by continued release of demand along the AI industry chain, the electronic components sector has seen a significant upturn, with structural divergence emerging in supply and demand for categories such as high-capacity MLCCs, memory, high-end copper-clad laminates, and high-layer-count PCBs.
Tengjing Technology's first-half net profit attributable to parent was 50.08 million yuan, up 36.9% year-on-year
Tengjing Technology released its 2026 interim report. First-half net profit attributable to the parent was 50.08 million yuan, up 36.9% year-on-year, with operating revenue of 429 million yuan, up 63.3% year-on-year. Second-quarter revenue was 258 million yuan, up 72.6% year-on-year, and net profit attributable to the parent was 35.65 million yuan, up 51.3% year-on-year. The company said that, benefiting from the acceleration of global AI computing infrastructure construction, demand in the optical communications industry continued to grow. Orders for key products such as passive components and OCS yttrium vanadate crystals supporting high-speed optical modules in data centers were delivered at an accelerated pace, and delivery volumes of high-end optical modules in the semiconductor equipment sector increased, strengthening overall profitability.
Sunway Communication Plans to Acquire 55% Stake in Yiyang Electronic Technology for 1.1 Billion Yuan
Sunway Communication announced that its wholly-owned subsidiary Yiyang Sunway plans to acquire a 55% stake in Yiyang Electronic Technology for 1.1 billion yuan in cash. After the transaction, it will hold a 70% stake and consolidate the company into its financial statements. The move aims to meet rapidly growing demand from global customers for high-end MLCC products and accelerate the company's strategic layout in the high-end MLCC business. This transaction constitutes a related-party transaction but does not constitute a major asset restructuring, and it still needs to be submitted to the shareholders' meeting for approval.
Defiance ETFs Launches CAPA, First U.S.-listed Capacitor ETF
Defiance ETFs has launched the Defiance AI Capacitors Leaders ETF (Cboe: CAPA), the first U.S.-listed ETF targeting the capacitor supply chain powering AI infrastructure. The fund tracks the BITA AI Capacitors Leaders Index, which holds companies deriving at least 50 percent of revenue from advanced capacitors and passive components used in AI servers, accelerators, and data centers. Top holdings include TDK Corp at 23.0 percent, Samsung Electro-Mechanics at 20.2 percent, and Murata Manufacturing at 18.3 percent. Industry reporting cited by Defiance indicates a single AI server built on Nvidia's GB300 platform can require roughly 30,000 multilayer ceramic capacitors, and Murata expects MLCC shipments into AI servers to grow about 30 percent annually through 2030. Defiance CIO Sylvia Jablonski said the market has spent three years pricing the chips, while CAPA focuses on what powers them, as rack power architectures move from 12 volts to 48 and even 800 volts.
Apple's Foldable Phone Approaches as Consumer Electronics Sector Surges Against the Market
The consumer electronics sector moved sharply higher in intraday trading on August 25, led by the foldable phone theme. Jierong Technology hit its daily limit up in a straight line, Hengmingda sealed limit up, and Xingxing Technology and Lvliang Technology rose more than 10%. On the news front, Apple is expected to hold a special autumn event on September 9, launching only three high-end models: the iPhone 18 Pro, iPhone 18 Pro Max, and its first foldable iPhone, while the standard iPhone 18 will be delayed until spring 2027. Analysts at Rothschild & Co. expect Apple's push into the ultra-high-end foldable phone segment could lift the iPhone average selling price by 11% before June 2027, with iPhone Ultra foldable phone sales reaching 14 million units in fiscal 2027. National Bureau of Statistics data show that from January to July 2026, retail sales of wearable smart devices by enterprises above designated size more than doubled year on year, while retail sales of communication equipment rose 15.1%. Furi Electronics' 2026 interim report shows first-half revenue of 7.923 billion yuan, up 48.57% year on year, with net profit attributable to the parent of 83.3497 million yuan, up 277.41% year on year. A research note from CITIC Securities points out that in the third quarter of 2026, the quarter-on-quarter increase in consumer-grade storage contract prices will narrow significantly, and shipments of traditional hardware such as phones and PCs are expected to bottom out and recover in the second half of 2026, making targets with high exposure to the Apple supply chain and premium Android business worth close attention.
Recodeal Redirects 200 Million Yuan of Raised Funds to Optical Communications; First-Half Net Profit Falls Nearly 30% Year on Year
Recodeal announced it will redirect 200 million yuan of raised funds originally earmarked for the High-Frequency High-Speed Connection System Renovation and Upgrade Project to a new project, the Ruihui Photonics New-Generation High-Precision Optical Communication Passive Connection Components Industrialization Project, in order to accelerate its layout in optical communication connector products. The funds come from convertible bonds issued in 2025. The total investment in the original project has been adjusted from 500 million yuan to 300 million yuan. The new project has a total investment of 306.5287 million yuan and is expected to be completed in 2027, with the implementing entity being wholly owned subsidiary Sichuan Ruihui Photonics Technology Co., Ltd. In the first half of the year, the company achieved operating revenue of 1.548 billion yuan, up 1.51% year on year, while net profit attributable to the parent company was 111 million yuan, down 29.36% year on year, showing revenue growth without profit growth. Second-quarter operating revenue was 796 million yuan, up 4.29% year on year, while net profit attributable to the parent company was approximately 51.99 million yuan, down 36.12% year on year.
MLCC supercycle continues to unfold, Sinocera Materials surges over 10%
On the afternoon of August 21, the MLCC concept rebounded in volatile trading, with Sinocera Materials rising more than 10%, and Sidike, Torch Electron, Boqian New Materials, Three-Circle Group, Fenghua Advanced Technology and other stocks among the top gainers. Behind the market action is the sustained price increase in the MLCC spot market that began in June 2026. As of August 2026, spot prices for ordinary standard products have risen more than 20%, while high-capacitance products such as 10 microfarad and 20 microfarad types used in AI servers have seen average increases of 60% to 80%, and some special models have doubled in price. Overseas leaders' earnings further confirm incremental AI computing demand. Murata's revenue in the second quarter of 2026 was 502.3 billion yen, up 20.7% year on year, and operating profit was 98.85 billion yen, up 59.8% year on year, with both revenue and profit setting record highs for a second quarter. Its MLCC business revenue was 282.508 billion yen, up 30% year on year, with orders in hand up 49.4% quarter on quarter and new orders up 85.5% year on year. Murata raised its full-year revenue guidance for fiscal 2026 to 2.11 trillion yen, an upward revision of 7.7% from its previous forecast, and added 80 billion yen specifically for expanding server MLCC production capacity. Samsung Electro-Mechanics reported second-quarter revenue of about 3.46 trillion won, up 24.2% year on year and a record quarterly high, with operating profit of 440.4 billion won, up 106.7% year on year. Institutions broadly expect this cycle to persist. Sealand Securities believes the shortage is spreading to consumer products, and the supply-demand gap for high-capacitance MLCCs may widen further in 2027. GF Securities notes that the current MLCC industry cycle is still in the early stage of an upcycle, and there may still be considerable room for price and profit elasticity to play out.
Maijie Technology first-half net profit attributable to parent 151 million yuan, up 1.1% year on year
Maijie Technology released its 2026 half-year report. First-half net profit attributable to the parent was 151 million yuan, up 1.1% year on year. Operating revenue was 1.98 billion yuan, up 10.5% year on year. Net profit attributable to the parent excluding non-recurring items was 129 million yuan, up 36.0% year on year. Net operating cash flow was 241 million yuan, up 506.4% year on year. Second-quarter net profit attributable to the parent was 104 million yuan, up 19.4% year on year. The company said revenue from AI server inductors and high-end terminal customers grew significantly year on year, becoming the core driver of performance growth, while emerging areas such as optical communications and the low-altitude economy achieved a breakthrough from zero to volume shipments.
Rifeng Cable plans to invest 700 million yuan in optical fiber project
Rifeng Cable plans to invest 700 million yuan to build a project with annual capacity of 300 tons of optical fiber preforms and 10 million fiber-kilometers of optical fiber. In addition, Ruifeng High Polymer plans to acquire no less than 51 percent equity in electronic-grade epoxy resin company Mituo New Materials for 400 million to 500 million yuan, and Jiemei Technology plans to invest an additional 428 million yuan in its North China production and research headquarters project to expand MLCC release film capacity. Sunwave Communications reported first-half net profit of 50.3935 million yuan, up 1,825.74 percent year on year; Grand Holding reported first-half net profit up 640.14 percent year on year and plans a dividend of 2.2 yuan per 10 shares; Raytron Technology reported first-half net profit up 258.78 percent year on year and plans a dividend of 5 yuan per 10 shares. Digital China plans to buy back shares worth 200 million to 400 million yuan, and Unitree Technology will list on the STAR Market on August 19.
Taiyo Yuden announced its first-quarter results for the fiscal year ending March 2027, with operating profit up 53.3% year on year to 4.8 billion yen. Revenue rose 10.7% to 93.9 billion yen, and quarterly net profit attributable to owners of the parent came to 2.5 billion yen, swinging from a net loss in the same period a year earlier. Higher sales to information infrastructure and industrial equipment customers, as well as currency effects, contributed to the improvement, with demand recovering mainly for its core multilayer ceramic capacitors. The company sharply raised its full-year operating profit forecast from 30 billion yen to 45 billion yen. Following the results, the share price rose more than 7% from the previous trading day to close at 10,265 yen.
Vishay Q2 2026 adjusted revenue rises 20.5% to $919 million
Vishay Intertechnology reported second quarter 2026 adjusted revenue of $919 million, exceeding the top end of its guidance and up 20.5% year over year. Gross margin came in at 22.6% on an adjusted basis, ahead of guidance, while adjusted earnings per share reached $0.19 compared with a loss of $0.07 a year earlier. The company said book-to-bill was 1.32 for the quarter, with total backlog growing 18% to $1.9 billion, or 6.1 months. For the third quarter, Vishay guided revenue between $945 million and $975 million and gross margin of 24.0% plus or minus 50 basis points, a quarter earlier than its prior target. Management attributed the strength to the Vishay 3.0 strategy, price increases, and accelerating demand across industrial, AI, aerospace and defense, and automotive end markets.
POCO Magnetic says chip inductor orders are full, new Huizhou Phase I capacity now online
POCO Magnetic stated on an investor interaction platform that its chip inductor business is currently operating normally, with very full orders and extremely high capacity utilization. The new Huizhou Phase I capacity has already been put into use, and the company is making every effort to boost deliveries.
Sinocera Materials Hosts Over 150 Institutions for Research, MLCC Dielectric Powder Sales Grow Rapidly
Sinocera Materials last week received 152 institutions for research, making it one of the A-share companies with the most institutional research visits that week. Company executives said during the research that benefiting from the recovery of industry prosperity and demand from AI servers and automotive electronics, MLCC dielectric powder sales grew steadily in the first half of the year, and some high-end production lines have been expanded. The subsequent release of new capacity is expected to further boost production and sales. In addition, the company's zirconia powder has gained development opportunities due to the national rare earth export control policy, with prices adjusted in a timely manner, and is expected to achieve both volume and price increases this year. Another company in focus, Shijia Photonics, received 139 institutions for research during the same period. The company disclosed that 400G and 800G AWG chips and components have been shipped in large volumes, 1.6T AWG chips have been shipped in small volumes, and pointed out that the supply of high-end optical chips remains relatively tight overall.
Minor metals surge as AI computing drives demand for germanium, tantalum, and molybdenum
On August 6, the minor metals sector rose 3.12% intraday, with Yunnan Germanium hitting its daily limit up, and China Tungsten and Hightech and Dongfang Tantalum among the top gainers. A Changjiang Securities research note pointed out that the minor metals sector is shifting from valuation contraction to a fundamentals-driven uptrend. Tantalum is benefiting from rising demand for polymer tantalum capacitors driven by high power consumption in AI chips. Nvidia's GB200 has already adopted them at scale, and per-unit tantalum capacitor usage in the GB300 and Rubin platforms is expected to increase further, marking an industry inflection point. Molybdenum, a critical metal for oil and gas and military applications, is also seeing long-term growth potential from the trend of replacing tungsten with molybdenum in semiconductors, in addition to cyclical restocking logic.
Taiyo Yuden raises full-year net profit forecast to 29 billion yen, nearly double the previous year
Taiyo Yuden has revised upward its consolidated net profit forecast for the fiscal year ending March 2027 to 29 billion yen, a 95.9% increase from the previous year, compared with the earlier projection of 18 billion yen. Contributing factors include increased demand for information infrastructure and industrial equipment, higher selling prices, and the impact of the weaker yen on foreign exchange. The new forecast slightly exceeds the average analyst estimate of 28.4 billion yen compiled by IBES. Demand for high-value-added, high-end products such as those for AI servers is expanding, and the increase in capacity and volume of multilayer ceramic capacitors for servers is expected to surpass initial assumptions. The assumed exchange rate for the full year has been revised from 150 yen to 159.70 yen per US dollar, with each one-yen movement against the dollar estimated to affect annual revenue by 1.9 billion yen and operating profit by 900 million yen. The company also announced first-quarter consolidated net profit of 2.5 billion yen, swinging into the black from a loss of 800 million yen in the same period a year earlier.
Hongyuan Electronics Plans Simplified Private Placement to Raise Up to 300 Million Yuan
The board of directors of Hongyuan Electronics has approved a plan for a simplified private placement of A-shares to specific investors in 2026, aiming to raise total proceeds of no more than 300 million yuan. After deducting issuance expenses, the funds will be used for the industrialization and technical renovation project of multilayer chip ceramic capacitors and adjustable capacitors, the industrialization project of micro-nano system packaging shells, and to supplement working capital.
MLCC supply chain sentiment improves as upstream material sales surge and expansion wave kicks off
Sentiment in the MLCC supply chain continues to rise, with upstream material sales growing rapidly and multiple companies announcing expansion plans. Sinocera's half-year report shows that, benefiting from downstream demand recovery and growth in emerging areas such as AI servers and automotive electronics, the company's sales of MLCC dielectric powders and electronic pastes increased quickly. Jiemei Technology's release film business has seen a significant sales jump since March this year, with volumes more than doubling year-on-year, and it expects supply to fall short of demand through the first half of next year. Sinocera announced that, effective July 27, 2026, it will raise the selling price of zirconia powder by approximately 10% to 40%. Hongyuan Electronics plans to raise no more than 300 million yuan for a technological transformation project to industrialize multilayer ceramic capacitors and adjustable capacitors, while Boqian New Materials intends to invest about 202 million yuan in a nickel powder expansion project.
Positive News Roundup for Listed Companies on the Evening of August 5: China Merchants Energy Shipping Plans to Build Five New Oil Tankers for a Total Price of Approximately 2.485 Billion Yuan
On the evening of August 5, multiple listed companies released positive news. China Merchants Energy Shipping, through its wholly-owned subsidiary, signed five Shipbuilding Agreements with Dalian Shipbuilding Industry to construct five energy-saving and environmentally friendly AFRAMAX oil tankers. The total agreement price is equivalent to approximately 2.485 billion yuan, with delivery expected between 2029 and 2030. Maxvision Technology established a wholly-owned subsidiary, Zhuhai Mingyao, as the implementation entity for an indium phosphide semiconductor material project, with a registered capital of 10 million yuan. The project will be advanced in two phases: the first phase plans to invest 12 million yuan to build a research and development laboratory, and the second phase is expected to have a total investment of 200 million to 260 million yuan. Hongyuan Electronics plans to raise no more than 300 million yuan through a private placement to fund the technological transformation project for the industrialization of multilayer ceramic capacitors and adjustable capacitors, the industrialization project for micro-nano system packaging shells, and to supplement working capital. Jiaocheng Ultrasonic has made breakthroughs in the semiconductor field, with its advanced ultrasonic scanning microscope having received a formal order from a leading domestic storage manufacturer, and its ultrasonic die bonder also having received a formal order from a customer. Lingdian Electronic Control plans to invest 600 million yuan in the Dongxihu District of Wuhan, Hubei Province, to build an expansion project for a new energy electronic control industrial park. Huitian Thermal Power plans to invest approximately 1.405 billion yuan to construct the Quansheng Thermal Power supporting long-distance interconnection heating project. BeiGene announced that its total global revenue for the second quarter of 2026 reached 1.7 billion US dollars, a year-on-year increase of 30 percent, with global revenue of Brukinsa reaching 1.2 billion US dollars, a year-on-year increase of 31 percent, and raised its full-year total revenue guidance to between 6.6 billion and 6.8 billion US dollars. China Tianying's controlling shareholder, Nantong Qianchuang, plans to increase its shareholding in the company, with the increase amount being no less than 50 million yuan and no more than 100 million yuan, and has received a commitment for a special loan for shareholding increase of no more than 90 million yuan from the Shenzhen branch of Ping An Bank. Kaiwei Technology plans to purchase 100 percent of the shares of Jingyi Semiconductor through a combination of share issuance and cash payment, with a transaction price of 1.65 billion yuan. The target company is a fabless power semiconductor enterprise, with products widely used in consumer electronics, home appliances, communications, and other fields.
MLCC price hike wave escalates, A-share concept sector surges nearly 5%, Bojay Electronics and other stocks hit daily limit
The A-share MLCC concept sector remained active in the afternoon of August 4, closing with an overall gain of 4.9%, as Bojay Electronics and Dongcai Technology hit their daily limit. In terms of news, leading Japanese and Korean manufacturers such as Murata, Samsung Electro-Mechanics, and Taiyo Yuden have successively raised prices for high-end, high-capacitance MLCCs used in AI servers and automotive-grade applications, with increases ranging from 15% to 30%. Several companies have acknowledged that delivery lead times for high-end products continue to lengthen, and production capacity can no longer fully meet customers' incremental demand. Samsung Electro-Mechanics will raise the shipment prices of all its MLCC categories by 30% starting August 1, 2026. Taiyo Yuden will adjust prices for some products from September 1. Murata Manufacturing took the lead as early as the end of March, raising prices for AI server and high-end automotive-grade MLCCs by 15% to 35%. The latest financial reports from leading manufacturers confirm this upcycle. Murata Manufacturing's revenue for the first quarter of fiscal 2026 reached 502.3 billion yen, up 20.7% year-on-year, with operating profit of 98.5 billion yen, up 59.8% year-on-year, and its capacitor segment revenue of 282.5 billion yen, up 30% year-on-year. Samsung Electro-Mechanics' sales revenue for the second quarter of 2026 was 3.4572 trillion won, up 24% year-on-year, and operating profit was 440.4 billion won, up 107% year-on-year. Multiple brokerages believe that the explosive growth in AI computing demand is the core driver. A Goldman Sachs research report shows that the AI server MLCC market is expanding rapidly at a compound annual growth rate of around 80%, with high-end MLCC supply and demand remaining tight, and the industry has entered a new cycle of rising prosperity.
Sunlord Electronics Attracts 174 Institutions for Intensive Research
Sunlord Electronics attracted 174 institutions for research this week, making it the listed company with the highest number of institutional visits. During the earnings briefing on July 30, institutions focused on industry sentiment, growth in automotive electronics, AI and optical module businesses, among others. The company stated that the consumer electronics segment maintained steady growth, energy storage business revenue rose significantly in the first half, automotive electronics sales revenue continued to grow rapidly, and data center-related business revenue expanded quickly. In terms of AI inductors, the company has gained recognition from multiple leading clients and is supplying in volume. Among optical module-related products, electronic products are progressing faster than ceramic products. In the first half of the year, Sunlord Electronics' share price rose by a cumulative 23.34 percent, hitting a record high on July 1.
Murata Manufacturing raises full-year net profit forecast to 338 billion yen on strong data center demand
Murata Manufacturing announced on the 31st that it now expects consolidated net profit for the fiscal year ending March 2027 to rise 44.5 percent year-on-year to 338 billion yen, revising its previous forecast of 293 billion yen upward. Growing demand for electronic components related to AI data centers, along with the yen's depreciation, are contributing to the profit increase. The company raised its revenue forecast to 2.11 trillion yen, up 15.2 percent from the previous year, and its operating profit forecast to 430 billion yen, up 52.6 percent. The net profit forecast matched the average estimate of 19 analysts compiled by IBES.
Kyocera raises full-year net profit forecast to 160 billion yen
Kyocera announced on the 30th that it has revised upward its consolidated net profit forecast for the fiscal year ending March 2027, from the previous 141 billion yen to 160 billion yen, a 13.5 percent increase year-on-year. This exceeded the average net profit forecast of 137.8 billion yen from 16 analysts compiled by IBES. The company also reported first-quarter consolidated net profit for the April to June period of 60.5 billion yen, up 63.1 percent from a year earlier, as demand expanded ahead of schedule in AI and semiconductor-related markets, and the weaker yen also pushed results above expectations. Revenue grew in core components and electronic parts, driven by robust demand for semiconductor packages and capacitors for AI data centers. For the second quarter from July to September, Kyocera expressed concerns about the continued uncertain economic environment stemming from rising raw material prices and geopolitical risks.
Sunlord Electronics' first-half 2026 net profit attributable to parent falls 8% year-on-year to 447 million yuan
Sunlord Electronics released its 2026 half-year report, showing first-half operating revenue of 3.86 billion yuan, up 19.7% year-on-year, but net profit attributable to the parent was 447 million yuan, down 8.0% year-on-year. Second-quarter net profit attributable to the parent was 269 million yuan, up 6.5% year-on-year, indicating some recovery in profitability. The company stated that a sustained sharp rise in metal raw material prices led to higher revenue but lower profit in the first half, though it is addressing cost pressures through internal improvements and negotiations with customers. Automotive electronics business sales revenue grew over 30% year-on-year, and orders for core products such as AI inductors in the data center business expanded rapidly.
Amphenol surges after Q2 results and Q3 outlook beat estimates
Shares of Amphenol surged about 9% on Wednesday after the fiber optic connector maker reported second quarter results and third quarter outlook that beat estimates. Adjusted earnings per share jumped 67% year-over-year to $1.35, while sales rose 55% to $8.8 billion, both exceeding consensus. The company also announced the acquisitions of El.Com and Wilder Technologies, and raised its full-year sales and accretion expectations for the CommScope Connectivity and Cable Solutions segment to $4.6 billion and $0.30 per share, respectively. For the third quarter, Amphenol guided for sales of $9.3 billion to $9.4 billion and adjusted EPS of $1.40 to $1.42, well above analyst forecasts of $8.77 billion and $1.28.
Tinavi plans to buy 62% of Shanghai Orthopaedics; Moonshot AI's Kimi closes over $3.5 billion Series F round
Tinavi plans to acquire a 62% stake in Shanghai Orthopaedics through a share issuance and raise matching funds, which is expected to constitute a major asset restructuring. The company's shares will resume trading on July 30. Moonshot AI's Kimi has completed its Series F funding round, raising over $3.5 billion, with a post-money valuation of $35 billion. The round closed early after being oversubscribed by more than three times the target amount. The Series G round, originally scheduled to start in August, has already been launched ahead of schedule, with a pre-money valuation rising to $50 billion. The Shanghai Stock Exchange has terminated its review of Taosheng Technology's IPO on the STAR Market. Samsung Electro-Mechanics will raise MLCC product shipment prices by 30% starting August 1, while Taiyo Yuden will increase MLCC prices from September 1. Quanta Computer plans to raise up to $2.19 billion through a global depositary share offering. A magnitude 7.1 earthquake in Kumamoto Prefecture, Japan, has halted production at several semiconductor plants, including those of Sony Semiconductor, Renesas Electronics, and Tokyo Electron. Shenzhen has issued a plan to strengthen the research, development, and application of general and vertical models, on-device models, physical AI models, and high-performance intelligent agents.
Samsung Electro-Mechanics and Taiyo Yuden Announce Sharp MLCC Price Hikes
The world's two leading MLCC makers are kicking off a new round of price increases simultaneously. Samsung Electro-Mechanics has notified partners that MLCC shipment prices will be raised by 30 percent starting August 1. Japan's Taiyo Yuden also announced it will raise prices on MLCCs shipped from September 1. MLCCs are transforming from consumer electronics cyclical components into core devices for AI computing and automotive electronics. The MLCC count in an AI server is roughly eight to ten times that of a traditional server, making it the third-largest item in the bill of materials cost. Goldman Sachs estimates the AI server MLCC market will grow at a compound annual rate of about 80 percent, and domestic Chinese companies are expected to accelerate their capture of high-end global market share.
Samsung Electro-Mechanics Lands Consecutive AI Server MLCC Mega-Orders, Fenghua Advanced Technology Hits Limit Up
MLCC concept stocks saw a collective spike during the trading session on July 27, with Fenghua Advanced Technology hitting its daily limit up. On the news front, Samsung Electro-Mechanics recently announced it has signed a contract to supply MLCCs for AI servers with a major global company. The contract is valued at approximately 295.12 billion Korean won, or 204 million US dollars, with the supply period covering the full year of 2027. This marks the second consecutive month that Samsung Electro-Mechanics has secured such a large order. Previously, on June 30, it disclosed an AI server MLCC supply contract worth about 450 billion Korean won. The two orders total roughly 750 billion Korean won, or about 510 million US dollars. Industry insiders say such a dense cluster of large-scale, long-term MLCC supply contracts is relatively rare in the industry, reflecting tight supply and demand for high-end passive components used in AI servers. From an industry fundamentals perspective, MLCCs are in an upward price cycle, with high-capacitance products particularly in short supply. Prices have risen three to five times, and delivery lead times have lengthened. Murata Manufacturing plans to invest a total of 250 billion Japanese yen to expand production capacity for products seeing growing demand, such as those for servers. Samsung Electro-Mechanics also plans to build a new factory in the Philippines to expand its server-grade MLCC capacity. A report from the China Electronic Components Association shows that the global MLCC market is expected to reach approximately 134.1 billion yuan in 2026, a year-on-year increase of about 16.5 percent, with mainland Chinese MLCC manufacturers holding roughly 10.2 percent of the global share.
Amphenol seen as 14.8% undervalued on strong earnings expectations
Analysts expect Amphenol's upcoming quarterly report to show strong year-over-year growth in both earnings and revenue, supported by upbeat revisions and rising institutional interest. The most widely followed narrative sets fair value at $184.78 against a last close of $157.43, implying the stock is 14.8% undervalued. Accelerating deployment of AI-driven data centers and next-generation IT architecture is driving demand for Amphenol's high-speed interconnect solutions, with exceptional growth in IT datacom revenue. However, the stock trades at 43.4 times earnings, richer than the US Electronic industry average of 29.3 times and close to its fair ratio of 44.7 times, suggesting less obvious upside. The share price has returned 12.68% year to date and 357.76% over five years.
DELTA says national semiconductor board will help expand supplier base and cut import costs
A source from Delta Electronics Thailand Public Company Limited, or DELTA, revealed that the government's establishment of a national semiconductor board will help DELTA expand its domestic supplier network, enhance cost competitiveness, and reduce reliance on imported components, while better managing geopolitical and supply chain risks. As for the separate electricity tariff for data centers, it will not significantly impact DELTA's costs because its factories are classified as large enterprises, but it will accelerate demand for energy-saving technologies, for which DELTA has comprehensive power management and cooling solutions ready to support. Regarding rising printed circuit board prices, the company has already built up inventory and entered into forward purchase contracts, while diversifying its supplier base to mitigate raw material risks and manage costs. Meanwhile, sustained growth in AI demand is beginning to affect prices of key components such as DRAM and SSD. DELTA continues to expand production and research and development in Thailand, investing in smart technologies and workforce development to fully support data center investments and the regional AI ecosystem.
KOA lifts full-year net profit forecast to 7.74 billion yen on strong AI and industrial equipment demand, dividend also raised 1.6 times
Electronic components maker KOA has revised upward its consolidated net profit forecast for the fiscal year ending March 2027, from the previous 4.78 billion yen to 7.74 billion yen. That represents a 95.9 percent increase year on year. The main driver is solidly expanding demand for artificial intelligence-related equipment and industrial machinery in Japan, China, Asia, and Europe. The full-year operating profit forecast has also been raised, from 2.83 billion yen to 5.36 billion yen. The annual dividend forecast has been sharply increased from 39 yen per share to 63 yen, with 31.50 yen expected for both the interim and year-end payments. First-quarter net profit came to 1.629 billion yen, up 288.4 percent from the same period a year earlier.
TE Connectivity forecasts quarterly profit and revenue above estimates on AI demand
TE Connectivity forecast fourth-quarter profit and revenue above Wall Street expectations, betting on a boom in demand for its AI-related tools and products. The company expects adjusted profit of $3.05 per share, compared with analysts' estimates of $2.96 per share, and revenue of about $5.25 billion, above the estimate of $5.16 billion. CEO Terrence Curtin said orders rose by more than $1 billion to $5.7 billion in the third quarter, with orders up 70% this year, building a strong backlog into next year. Third-quarter revenue grew 14% to $5.16 billion, beating the $5 billion estimate, and adjusted profit of $2.94 per share topped the $2.84 estimate. Curtin also said the company would continue passing on higher raw material costs through price hikes and would return any tariff refunds to customers rather than offering broad price cuts.
China Post Future New Blue Chip Mixed Fund Posts Q2 Profit of 83.31 Million Yuan, NAV Up 33.91%
China Post Future New Blue Chip Flexible Allocation Mixed Fund disclosed its second-quarter 2026 report, recording a profit of 83.31 million yuan for the period, with net asset value growth of 33.91 percent. As of quarter-end, the fund size stood at 280 million yuan. Fund manager Bai Peng stated in the report that during the second quarter, the fund increased allocation to supply chains benefiting from the expansion of the artificial intelligence industry both domestically and overseas, particularly MLCC passive components and certain lithium battery materials characterized by tight supply and demand with pricing elasticity. The fund also continued to favor key new materials and domestic semiconductor equipment, while reducing holdings in some power equipment stocks facing weakening industry conditions. As of July 21, the fund's unit net asset value was 2.564 yuan, with a one-year total return NAV growth rate of negative 1.91 percent, ranking 84th out of 115 comparable funds.
Lion Low-Carbon Economy Equity Fund A Posts Q2 Profit of 142 Million Yuan, Net Value Up 23.93%
Lion Low-Carbon Economy Equity Fund A disclosed its second-quarter 2026 report, with a quarterly profit of 142 million yuan and a net value growth rate of 23.93%. By the end of the second quarter, the fund's size stood at 726 million yuan. Fund managers Han Dongyan and Li Xiaojie noted that during the quarter, driven by AI computing power demand and expectations of major tech company listings, the optical module and PCB supply chains saw significant gains, which spread to niche segments such as niche memory and MLCC. Meanwhile, domestic consumption showed no clear improvement, and large-cap value stocks fell sharply. In the second quarter, the fund increased its allocation to electronics and communications, reduced exposure to non-bank financials, non-ferrous metals, and basic chemicals, trimmed some defensive positions, and raised the weighting of the technology sector. As of July 20, the fund's one-year total return net value growth rate was 35.61%, and the three-year rate was 52.28%.