PRODUCTIVE TECH (00650) rose more than 16% in early trading. As of the time of writing, the stock was up 11.29% to HK$0.69, with a turnover of HK$30.1049 million. The catalyst for the move is news that TSMC's board of directors approved capital appropriations of approximately $31.28 billion for advanced chip manufacturing technology capacity construction, fab construction progress, and fab infrastructure system installation. Industry insiders point out that with the global acceleration of AI computing infrastructure, the expansion cycle for advanced processes is clear, leading to significantly improved visibility for orders for domestically produced equipment. Huaxin Securities noted that considering the company's semiconductor equipment is in the early stage of bringing new products (LPCVD, batch cleaning) to market, and its advantageous position in the two critical "chokepoint" segments of high-end semiconductor cleaning and thin-film deposition; as equipment undergoes large-scale verification in fabs and transitions to batch deliveries, the company is expected to reach an inflection point in profitability in fiscal year 2027, with margins entering an upward trajectory. It is anticipated that the company's future net profit margin could see a substantial leap, and the firm expresses optimism regarding the company's long-term growth potential.
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