MLCC supercycle continues to unfold, Sinocera Materials surges over 10%

IndustryEarnings Impact 4
โดย 21世纪经济·CN·Read original
Summary · why it matters

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.

Impact on stocks 8

Semiconductors▲ · 2 stocks
Samsung Electro-Mechanics
009150
▲ PositiveDemandrelevance

Samsung Electro-Mechanics reported record Q2 revenue and operating profit up 106.7% YoY, driven by MLCC demand.

Others▲ · 6 stocks

Theme Impact 2

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