Propelled by surging demand for artificial intelligence (AI), the A-share sector focused on MLCCs (Multilayer Ceramic Capacitors) has recently witnessed a notable uptick. A recent research report from Goldman Sachs highlights that the AI-driven super cycle for MLCCs is only just beginning. At present, MLCCs have emerged as the third-largest cost component in AI servers, trailing only GPUs and memory. The market size for MLCCs is projected to expand by approximately 4.3 times between 2025 and 2030.

A Reporter’s investigation reveals that the MLCC industry is currently grappling with a structurally tight supply environment, marked by "a shortage of high-end products and insufficient capacity for low-end products." The spike in demand for high-end MLCCs from AI servers and new energy vehicles, combined with the lengthy construction timelines for high-end production lines, makes it challenging to swiftly ramp up capacity in the near term. This has led to a pronounced supply-demand imbalance for high-end MLCC models.

MLCCs are often referred to as the "staple of the electronic industry." They function akin to a "voltage stabilizer" or "charge reservoir" within electronic devices, instantly supplementing or absorbing current during chip operation. This capability is crucial in preventing system crashes or computational errors caused by voltage fluctuations.