is completely out of stock electronic products! Goldman Sachs shouted "sky-high prices" to the leader. This industry leader with smooth production capacity is expected to be the first to be ranked
According to the latest report of Goldman Sachs Securities, the supply and demand imbalance of ABF carrier boards is more serious than expected. Originally, the brokerage expected that the increase will be adjusted by about 6% this year and will rise by another 5% next year. However, the main carrier board factories are increasing production slowly, but market demand has increased rapidly. Therefore, it is expected that the ABF carrier board will increase by 15% this year and will rise by another 10% in 2022. Nandian, one of the leading Taiwanese stock market leaders, enjoyed greater benefits in the subsequent price increase cycle, which was higher than market expectations and raised its target price to 420 yuan.
Comment:
In fact, in the context of out-of-stock carrier boards, Nandian has risen from 182 yuan to 295 yuan on the 24th since the beginning of the year. The target price has been raised again, which is equivalent to an increase of more than 130%, indicating that top overseas institutions are optimistic about the industry.
Goldman Sachs said that the capacity of ABF carrier plate added to China's Kunshan plant is expected to increase in volume in the second quarter. As the equipment delivery period is extended to 8-12 months, the world only increases ABF carrier plate production capacity by 10%-15% each year, but market demand continues to be strong, and the overall supply and demand gap is expected to be difficult to alleviate by 2022.
In addition, the supply and demand of BT carrier boards will be more in short supply this year. In addition, the US customers of Nandian’s American customers have driven the demand for system-level packaging (SiP) to increase by 20%. It is estimated that Nandian’s BT carrier board shipments will increase by nearly 30% this year, and the performance of Nandian’s BT carrier boards will exceed 30% this year.
Since IC carrier plates can be divided into BT carrier plates and ABF carrier plates according to the different technical paths such as the CLL resin system used. The supply and demand gap between BT carrier plates and ABF carrier plates may thicken the performance of companies whose A shares mainly operates IC carrier plates.
Company:
Xingsen Technology : The company's expansion of production capacity is currently being released in production capacity and has entered production status in 2020. The company plans to achieve full production in the first half of 2021. In addition, the company provides continuous one-stop semiconductor test board services to well-known chip companies around the world, and is an important partner of first-class semiconductor companies in the world and China.
Shennan Circuit : The current climbing progress of the company's Wuxi IC carrier board project meets expectations. The production capacity of the Wuxi IC carrier board project after reaching production is expected to be 600,000 square meters per year.
Disclaimer: The content of the article is for reference only and does not constitute investment advice. You can take advantage of this at your own risk!
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