Signs of a low reversal? The flames of the relay 30cm in the cold winter of Beijiao!

Rhino Star

2024-07-02 10:33

In the last week of June, the BSE 50 hit a new low for the year:

Since the beginning of this year, the hype trend of the year, the wrong killing of micro-cap stocks by the "National Nine Articles", and the superposition of specific policies that have not been fulfilled in the Beijing Stock Exchange have gradually lowered the confidence of investors in the sector, and the Beijing Stock Exchange 50 and the 1,000 points at the beginning of the year have fallen to 700 points now, which has fallen by nearly 40%.

But from last week to the present, the relay race in the plate has appeared in the frozen market price limit company, which partially protects the only little confidence left in the plate.

In the second half of June, these companies held up the Beijing Stock Exchange

At the end of June, the Beijing Stock Exchange followed the market adjustment, the index bottomed out twice, and on the whole, individual stocks fell more and rose less, and only a few theme stocks in the sector still had hype.

Although the Beijing Stock Exchange could not escape the downward trend of the market in June, there were always a few companies with pure themes in the sector in time, and the relay was igniting the local price limit.

Last week, Lifang Holdings (833030) and Jiuling Technology (873305) drove by the concept of Cheluyun, and in the last week of June, it was the CPO concept stock Zecheng Electronics that took over the hype relay in the sector.

Rhino Star APP data shows that according to the company's announcement and institutional research content, Zecheng Electronics (837821) manufactures PCBs used in FCBGA packaging, and the current mainstream technical paths in the industry are to use ABF materials through the semi-addition method (SAP) process and PP materials to achieve two paths through the improved semi-addition method (mSAP) process, but these two process paths are currently subject to foreign suppliers in terms of materials and equipment.

The current market status quo is that the mainstream products of CPO are mainly low-end and high-end 800G, and 1.6T is the fastest from the research reports of various manufacturers, and the head companies may not start to supply until the second half of the year.

The former high-end 800G and other mainstream products in the market at this stage, there are only two main suppliers of PCB for optical modules, one is a mainland company, and the other is a Taiwanese company.

Based on the different process realization paths, its raw materials can be solved domestically, and compared with other companies in the same industry, it can achieve the advantage of relatively fast delivery speed, and the independent and controllable realization is truly a domestic substitution.

The latter's 1.6T new product, the 1.6T optical module PCB sample produced by Chengcheng Electronics based on NCBF materials and FIPIS technology, sent to a head optical module manufacturer for various performance tests, from the feedback results, the evaluation of the 1.6T optical module PCB verification sample is high, and the new product is not inferior to the head company, and even exceeds the main supplier in several key indicators such as high frequency and high speed.

The research announcement is full of dry goods, pure logic, and from the perspective of industry prospects, in addition to HDI PCB manufacturing, the NBCF material of Zecheng Electronics can be applied to glass substrates, organic interposers, FOPLP, RTL, CHIPLET and other high-end circuit board manufacturing and semiconductor packaging fields.

Judging from the current market value of the main suppliers of optical module PCB in the industry close to 30 billion, once the electronic PCB business is supplied in large quantities in the future, the performance is bound to usher in rapid growth, and the logic is pure, but the success still needs to wait for the verification of downstream CPO manufacturers after sending samples.

If the market capital situation is not very good, the funds will target fewer companies, and the requirements are higher, a closer look at the speculation of several companies in June, all meet the characteristics of small market capitalization, the pure characteristics of the theme business, and even the hype of such companies is not long.

In fact, before the Beijing Stock Exchange, Dawn Digital Innovation (872808), Parallel Technology (839493), Dingzhi Technology (873593) and other pure themes, the trend of individual stocks is not small in terms of its follow-up speculation space, the market does not necessarily meet a good market when the target is good, and window opportunities often appear at this point in time.

In the first half of the year, the new low of the Beijing Stock Exchange has passed, and there has been a transaction volume that has continued to hit this year.

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