〈Focus Stock〉Lian Mao's Massive Orders Trigger Limit-Up, Boosting PCB Upstream Material Stocks

Lian Mao (6213-TW), a CCL (copper-clad laminate) manufacturer, has been aggressively expanding its high-end product lineup and production capacity. Today (25th), the company received massive orders totaling 25,000 units, driving its stock price to a limit-up surge at NT$530. This surge not only lifted CCL-related stocks like Tenghui (6672-TW) and Taiyan (6274-TW)—which rebounded from negative territory—but also boosted Taihong (8039-TW).

Lian Mao has decided to expand production capacity at its Wuxi plant by approximately 2.85 million units. Additionally, its Thai plant is expected to add around 600,000 units of capacity by 2028. Under the current plan, Lian Mao's annual CCL production capacity will increase from approximately 5.45 million units this year to 6.05 million units by 2027, 8 million units by 2028, and 8.9 million units by 2029. Through expansions in Wuxi and Thailand, the company aims to gradually enhance its ability to directly meet the high-end AI server material demand.

Benefiting from robust AI server demand and rising raw material costs driving product price adjustments, Lian Mao's third-quarter performance is expected to continue the growth momentum seen in Q2.