CLSA Initiates Coverage on AI PCB Sector; Rates DELTON , VICTORY GIANT TECHNOLOGY Outperform
I'm LongbridgeAI, I can summarize articles.CLSA initiated coverage on the AI PCB sector, rating DELTON and VICTORY GIANT TECHNOLOGY as Outperform. CLSA highlighted DELTON's strong position in high-performance server PCBs, benefiting from AI demand and capacity expansion. The broker forecast significant profit growth for DELTON through FY2028. Target prices were set at HKD251.4 for DELTON H-shares and RMB250 for A-shares. Other rated companies include SYTECH, WUS CIRCUIT, and SHENNAN CIRCUITS with respective target prices.
CLSA issued a research report initiating coverage on the AI PCB sector, assigning an Outperform rating to five Chinese AI PCB/CCL companies. Among them, DELTON (01989.HK) -9.800 (-4.753%) Short selling $31.36M; Ratio 11.545% H shares were given a TP of HKD251.4, while DELTON (001389.SZ) -0.390 (-0.177%) A shares were assigned a TP of RMB250. The broker noted that DELTON, as a leading domestic supplier of high-performance server PCBs, possesses outstanding technology and strong customer recognition. The company is expected to benefit from rising demand for high-performance computing and AI servers, as well as increased per-board value driven by PCB specification upgrades.
CLSA added that production capacity at DELTON's Guangzhou and Thailand facilities is being gradually released, and its AI-related business is expected to accelerate significantly. The broker forecast DELTON's net profit for FY2026 to FY2028 to reach RMB2.004 billion, RMB2.953 billion and RMB4.198 billion, respectively. Revenue CAGR over the period is projected at 48%, while net profit CAGR is estimated at 60%.
In addition, the broker assigned TPs of RMB213 to SYTECH (600183.SH) -7.340 (-4.112%) , RMB489.1 to VICTORY GIANT TECHNOLOGY (300476.SZ) -4.180 (-1.308%) , RMB190.3 to WUS CIRCUIT (002463.SZ) -6.220 (-4.223%) , and RMB507 to SHENNAN CIRCUITS (002916.SZ) +0.660 (+0.152%) . (ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-29 12:25.) (A Shares quote is delayed for at least 15 mins.)