GLOBAL PCB DAILY
全球PCB行业每日动态
2026年10月2日（周五）｜ 近24小时
中英双语
1 国内·材料 10月1日
宏和科技电子布卖到11.91元/米，前三季度净利暴增334%
上游"布"紧到这个程度，最直接的受益者就是电子布厂。宏和科技这轮弹性最猛：电子布均价从4.81元/米一路飙到11.91元/米，前三季度归母净利润同比暴增334.32%。它做的是高端薄布和Low-Dk布那一档，正好卡在AI服务器和高速板的用料上。不过得提醒一句，这种利润是缺货行情给的，织机产能一时半会补不上来才撑得住价；等到2027–2029年新织机落地，日子会不会还这么好过，得打个问号。
EN | The cloth crunch's most direct beneficiary is the upstream weaver. Honghe Technology (宏和科技, 603256) posted the sharpest gains: average e-glass cloth price rose from RMB4.81/m to RMB11.91/m, and 9M net profit surged 334.32% YoY. It plays in thin and low-Dk cloth—exactly the grades AI servers and high-speed boards need. The caveat: this margin is a shortage premium; once new looms land in 2027–2029, the easy money may fade.
2 国内·材料/行情 10月1日
金居HVLP铜箔被本土法人喊到620元，明年EPS看21.96元
铜箔这一头也在升温。铜箔大厂金居（8358）HVLP3、HVLP4高阶铜箔开始出货，本土法人10月1日维持"买进"、把目标价抬到620元，还给了个挺夸张的明年EPS——21.96元，比今年约10元直接翻倍。逻辑是三季度起高阶铜箔就要供不应求，HVLP4占比会超过HVLP3，加上铜价和电费推着，金居还会接着涨价。Q2营收28.05亿、季增10.9%，毛利率27.4%，运营已经创历史新高。AI服务器和高速板要吃的高阶铜箔，现在就是卖方市场。
EN | Copper foil is heating up too. Taiwan's Co-Tech (金居, 8358) is shipping HVLP3/HVLP4 high-end foil; on Oct 1 a local broker kept a "Buy" and lifted the target to TWD620, modeling 2027 EPS of TWD21.96—double this year's ~TWD10. The case: high-end foil turns undersupplied from Q3, HVLP4 share overtakes HVLP3, and rising copper/power costs support more price hikes. Q2 revenue was TWD2.805bn (+10.9% QoQ), margin 27.4%, an all-time high.
事故 国外·事故 10月1日
智利铜矿又出致命事故，Codelco拉多米罗·托米克停产，铜价撑在高位
铜——PCB最底层的成本——又出事了。智利国家铜业（Codelco）旗下拉多米罗·托米克（Radomiro Tomic）铜矿10月1日（周四）发生致命事故：一名维修工人在破碎与物料处理区作业，约08:50出事身亡，相关采矿作业立刻暂停，事故区和原因还在查。这已经是智利近两周内第二起铜矿死亡事故——就在之前，必和必拓（BHP）的埃斯康迪达（Escondida）铜矿9月23日也因一名工人在设备维护时身亡而临时停产，后来才逐步恢复。拉多米罗·托米克去年产约28万吨精炼铜，差不多占Codelco年产的四分之一；智利8月铜产量还同比掉了13%到36.95万吨，创逾15年单月最低。铜供给本来就被天气和多座大矿的运营问题折腾，这下又紧了一扣，LME铜价10/1还稳在14,200美元/吨上方。往PCB这边传导，铜箔成本的压力一时半会松不了。
EN | Copper—the base cost of every PCB—took another hit. Codelco's Radomiro Tomic mine suffered a fatal accident on Oct 1: a maintenance worker died around 08:50 in the crushing and materials-handling area; mining there was immediately suspended pending investigation. It's Chile's second copper-mine fatality in just over a week—BHP's Escondida paused Sep 23 after a worker died during equipment maintenance, later resuming partly. Radomiro Tomic produced ~280kt fine copper in 2025 (~a quarter of Codelco's output); Chile's August output fell 13% YoY to 369.5kt, a 15-year low. With supply already squeezed by weather and mine outages, LME copper held above $14,200/t on Oct 1—keeping foil-cost pressure on PCB makers intact.
4 国外·行情 10月1日
日经半导体材料板块全面普涨，揖斐电等AI封装链集体爆发
10月1日日本市场那边，半导体材料板块全面飘红，领涨的都是AI芯片封装产业链。揖斐电（Ibiden）作为AI芯片IC载板龙头、英伟达核心供应商，跟着先进封装这条线一起被资金追。Lasertec、爱德万、东京电子这些设备三巨头也在核心位置。简单说，日本这波涨的不是单一股票，是"半导体设备+AI芯片封装"整个链条的集体重估，Ibiden这种载板厂是里面最纯的封装材料标的。
EN | On Oct 1 Japan's semiconductor-materials sector rallied across the board, led by the AI-chip packaging chain. Ibiden—the AI-IC-substrate leader and a core Nvidia supplier—surged alongside advanced packaging. Lasertec, Advantest and Tokyo Electron anchored the equipment side. It wasn't one stock; it was a re-rating of the whole "semiconductor equipment + AI-chip packaging" chain, with Ibiden among the purest substrate plays.
5 国外·材料/扩产 10月1日
韩国Kolon加码PPO树脂产能，盯着先进节点半导体材料那块需求
高端CCL除了布，树脂也是卡点。韩国Kolon Life Science（10月1日The Elec报道）要在金泉（Gimcheon）工厂扩PPO（聚苯醚）产能，目标就是先进制程半导体材料的需求。PPO是做高频高速CCL的关键树脂之一，M7以上、Low-Dk体系都离不开它。AI和先进封装把树脂体系往更高频推，上游这点产能谁先开出来，谁就能在M8/M9那档材料里多吃一口。算是个不起眼但很要命的环节。
EN | Beyond cloth, resin is another pinch point. Korea's Kolon Life Science (reported Oct 1 by The Elec) will expand PPO (polyphenylene oxide) capacity at its Gimcheon plant, targeting advanced-node semiconductor-material demand. PPO is a key resin for high-frequency/high-speed CCL used in M7+ and low-Dk systems. As AI and advanced packaging push resin specs higher, whoever brings PPO capacity online first grabs a bigger slice of the M8/M9 material pool.
6 国外·技术/扩产 10月1日
韩国Simmtech推进SOCAMM内存模组基板，Taesung谈供铜电镀设备
AI内存模组（SOCAMM）这条线也在悄悄扩。韩国Simmtech（10月1日）在推进它的SOCAMM基板产线，同时Taesung在谈给它供铜电镀设备，韩国AI内存封装供应链又深了一层。SOCAMM是给AI服务器内存条用的高阶基板，跟着HBM和AI服务器走量。现在内存大厂都在抢先进封装产能，基板和电镀设备这些"卖铲子"的，订单能见度反而比单一载板厂更稳。
EN | The AI memory-module (SOCAMM) track is quietly expanding. Korea's Simmtech is advancing its SOCAMM substrate line, while Taesung is in talks to supply copper-plating equipment—deepening Korea's AI memory packaging chain. SOCAMM substrates serve AI-server memory modules riding HBM and AI-server volume. As memory makers scramble for advanced-packaging capacity, the "picks-and-shovels" players—substrates and plating gear—see steadier order visibility than any single substrate maker.
7 国外·技术 10月1日
欧洲PCB想翻盘，AT&S把宝押在玻璃核心载板和光互连
欧洲在全球PCB占比不大，但10月1日那篇把视线拉到奥地利AT&S身上。作为高阶PCB、IC载板和先进封装的老牌玩家，AT&S现在主攻超高密度互连（UHDI）、细线路、低损耗材料，还有玻璃核心载板（glass-core substrate）和光互连。这些正好是高级处理器和芯片要的——高功率、小空间、高数据传输。欧洲想靠这类创新技术，把在地供应链的关键地位抢回来，不再只当配角。
EN | Europe's PCB footprint is small, but an Oct 1 piece spotlights Austria's AT&S. The veteran high-end PCB, IC-substrate and advanced-packaging player is betting on UHDI, fine-line structures, low-loss materials, glass-core substrates and optical interconnect—exactly what high-power, space-constrained, high-bandwidth processors demand. Europe wants this kind of innovation to claw back a key role in the local supply chain rather than stay a bit player.
GLOBAL PCB DAILY · 2026-10-02
信息均来自公开渠道 · 仅供参考 · 不构成投资建议
