Since 2026, multiple PCB listed companies have disclosed expansion plans, with a focus on high-end production capacity. Industry insiders believe that the domestic companies' layout (layout) of high-end PCB production capacity is primarily driven by factors such as the rapid growth in demand for downstream AI servers, new energy vehicles, advanced packaging, the arrival of the window period for import substitution, and the contraction of high-end production capacity by overseas manufacturers. Ji'an ManKun Technology is advancing a high-end PCB production base project in Thailand, which is expected to commence operations in 2027. In addition, companies such as WUS Printed Circuit, Zhen Ding Technology, and Shennan Circuits have also announced investment plans for high-end PCB projects. Industry insiders point out that the supply of high-end PCBs is tight, with a significant gap between supply and demand. The industry is at a critical juncture for industrial upgrading and will exhibit polarization in the future, with import substitution advancing deeper.

The Hong Kong Stock Exchange is currently teeming with a vibrant array of potential listings. Excluding confidential submissions, there are presently 410 companies with applications 'under review', along with 6 companies that have successfully cleared their listing hearings, bringing the total to 416. Notably, 57 of these companies have submitted their applications in accordance with the listing rules tailored for biotechnology and specialized technology firms. Additionally, over 100 companies, already listed on the A-share market, are also patiently awaiting their turn. The substantial backlog of pending applications is a clear testament to the unwavering confidence of issuers in the Hong Kong market.

Micron Technology is stepping up its efforts to enhance the capacity of its sixth-generation high-bandwidth memory, HBM4. The optimization pace for HBM4 is now twice as fast as that of last year's HBM3 12-layer offerings, accompanied by a notable boost in yield rates. HBM4 is set to be integrated into NVIDIA's AI computing platform, Vera Rubin. The ongoing capacity expansion is leveraging insights from prior-generation products, utilizing a 10nm-class fifth-generation 1β process for core chip fabrication, and refining the base chip design. The forthcoming next-generation HBM4E standard product is scheduled to commence mass production next year. Its core chip will be crafted using a 10nm-class sixth-generation 1γ process and will, for the first time, incorporate ASML's extreme ultraviolet (EUV) lithography technology, while the base chip will be produced by TSMC. Simultaneously, Micron is also in the process of developing custom products tailored to customer needs. Rivals Samsung Electronics and SK Hynix are also in the midst of HBM4E development, employing the 1c process. Samsung aims to dispatch samples in the second quarter of this year, while SK Hynix intends to provide samples in the latter half of the year, with both companies planning to initiate mass production next year. Micron anticipates that by mid-year, shipments of DRAM based on the 1γ process and ninth-generation NAND flash memory products will constitute over half of its total shipments, with 1γ DRAM emerging as the single largest DRAM process in terms of wafer output.

Xingyun Technology has revealed that its majority-owned subsidiary, Xingyun Storage and Computing, has entered into a Framework Agreement for Equipment Sales with Zhejiang Shenhu. Under the terms of this agreement, Xingyun Storage and Computing will supply its proprietary enterprise-grade SSDs to Zhejiang Shenhu, at a total price inclusive of taxes amounting to 322 million yuan. Should the contract be executed without a hitch, it is anticipated to yield a favorable impact on the company's forthcoming operational performance. The SSDs involved in this transaction are primarily geared towards businesses associated with AI servers, seamlessly complementing the company's other related ventures. The execution of this contract is poised to expedite the sales of the company's independently developed products and amplify the brand's clout within the industry.

Intel Foundry Services is leading the global development of glass substrate technology, with its Rio Rancho plant in New Mexico poised to become the world's first large-scale production base for glass substrates. Glass core substrate technology has garnered significant attention in the semiconductor industry due to its multiple advantages over traditional organic substrates. Currently, influenced by the AI supercycle, the substrate market is experiencing supply shortages, prompting one of the world's largest substrate suppliers, Ajinomoto, to announce price hikes. These supply chain pressures have spurred the industry to accelerate the exploration of advanced packaging solutions, thereby driving the development of glass substrate technology.

The management of Micron, the U.S. storage chip giant, stated at the 54th J.P. Morgan Global Technology, Media and Communications Conference (TMC) that the tight supply-demand situation for key products such as High Bandwidth Memory (HBM), DRAM, and NAND flash memory will persist beyond 2026. J.P. Morgan disclosed this viewpoint in a research report, noting that even with new wafer fabs coming online in 2027, the tight supply-demand conditions for DRAM and HBM will remain difficult to resolve, with Micron currently only able to meet 50% to two-thirds of its key customers' medium-term demand.

On May 25, Italy's benchmark stock index shattered the previous record high closing level that had stood since 2000. The notable rebound in the energy and chip sectors in the near term provided a substantial impetus, driving the market to this historic achievement. On Monday, Italy's FTSE MIB index surged by as much as 1.2% during intraday trading, reaching 50,121.2 points and eclipsing the previous record set 26 years prior. After experiencing three consecutive years of growth, the Italian stock market has amassed an 11% gain thus far in 2026. As a chip supplier to industry giants Tesla and Apple, STMicroelectronics has witnessed a cumulative increase of 156% in 2026. The swift development of artificial intelligence infrastructure has significantly spurred demand for optical components that are efficient in transmitting data. Simultaneously, the soaring prices of oil and gas have propelled energy companies Saipem Spa and Eni SpA to increases of 73% and 41%, respectively, in 2026.

Fenghua Advanced Technology released an official announcement, noting that it has observed recent media speculations indicating the company's inclusion in NVIDIA's supply chain. Following thorough verification, the company confirmed that, as of the present moment, it has not established any direct business cooperation with NVIDIA. Additionally, the revenue generated from the company's MLCC (Multilayer Ceramic Chip Capacitor) products constitutes roughly 40% of its total revenue. Within this segment, high-end MLCC products account for 35%-40% of the revenue from all MLCC products, equating to approximately 15% of the company's overall revenue.

On May 25, 2026, during the 2026 International Symposium on Circuits and Systems (ISCAS 2026), He Tingbo, a Huawei director and also the president of the Semiconductor Business Department, officially put forward the 'Tao (τ) Law'. This groundbreaking law marks a paradigm shift, substituting the traditional concept of 'geometric miniaturization' with 'temporal miniaturization'. It strives to minimize signal propagation delays and elevate transistor density by leveraging cutting-edge technologies like logic folding. Through these innovations, it propels the relentless advancement of semiconductors and electronic systems. Based on this law, Huawei has already embarked on the design and mass production of 381 chip models, spanning a diverse array of fields. It is anticipated that by 2031, the transistor density of high-end chips developed in accordance with the Tao Law will achieve a level equivalent to that of the 1.4-nanometer process.

According to Taiwan's 'Commercial Times', AMD has advanced its supply chain preparations for its next-generation x86 CPU architecture, Zen 7 (codenamed Grimlock). The new product will adopt TSMC's most advanced A14 process, featuring a 1.4nm technology node, with plans for mass production and market release in 2028. By then, TSMC's A14 will directly compete with Intel's 14A process, and the Zen 7 series is seen as AMD's key product line at this technology node.

On May 25, during a performance briefing, Yu Faxin, the Chairman of ST Zhenlei, disclosed that the company is in the process of developing an integrated power management chip solution specifically designed for high-speed optical modules. Moreover, the company has already commenced small-batch supplies of this innovative solution. Tailored to meet the unique demands of optical modules, AI, and computing power, the company's power products are primarily geared towards the aerospace sector, ensuring optimal performance in this high-stakes environment.

Hanglikang has released an official statement, noting that it has observed online discussions, particularly on self-media platforms and financial stock forums, speculating about the company's potential foray into the optical chip sector. Posts such as, "Let's dissect Hanglikang's strategy—it could very well be an emerging force in optical chips," and "Hanglikang's principal controller is nurturing an external venture, with the new entity poised to rival Eoptolink and Source Photonics," have caught the company's attention.

Following a thorough internal assessment, Hanglikang confirms that, as of the present moment, it has not undertaken any business ventures or investments in semiconductor domains, including optical chips. Furthermore, the company's principal controller, Lv Huihao, along with his immediate family members, possess only a minority shareholding in Zhejiang Shengyi Optoelectronics Co., Ltd. This investment is purely for personal financial purposes, and Shengyi Optoelectronics maintains no business collaborations with Hanglikang.

On May 20, 2026, the 13th Automotive Electronics Innovation Forum (AEIF 2026) opened in Shanghai, unveiling the "Golden Core Awards." Several companies, including VeriSilicon, Awinic, and GigaDevice, won awards, showcasing the latest achievements in automotive-grade chips.

Recently, Guangyu Xinchen has achieved fresh advancements in the realm of edge AI technology. After the Shanghai Integrated Circuit Industry Association approved the group standard titled 'Technical Specifications for 3D DRAM Chip Integration in Edge AI,' the company, playing a pivotal role as a drafting unit, engaged in the formulation of two more group standards: 'Technical Specifications for Performance Optimization of High-Bandwidth Memory Chips in AI Computing Scenarios' and 'Evaluation Criteria for High-Speed Read/Write Stability of Memory Chips Employed in Large-Scale Model Training.' This move further positions Guangyu Xinchen as a leader in shaping standards for high-bandwidth and AI-specific memory chips.

SFD has issued a statement confirming that, following recent coverage by CCTV on diamond heat dissipation applications, the company has thoroughly verified the matter. The information disclosed does not contain any undisclosed material information that could potentially have, or has already had, a significant impact on the company's stock trading price. The company has observed a notable surge in market interest surrounding cultivated diamonds and superhard materials in recent times. It is important to note that relevant business conditions and associated risks have been comprehensively disclosed in the company's periodic reports, ensuring transparency and compliance with regulatory standards.

On May 25, Union Rui New Materials addressed market concerns on an investor interaction platform. It stated that the value and prices of some of its products had risen, influenced by factors such as market demand upgrades and changes in export tax rebate policies. In the meantime, the company shared updates on the progress of two high-end material projects: the construction of the ultra-pure spherical powder material project, tailored for high-performance high-speed substrates, is unfolding in three phases. The first phase has been successfully completed, and the second and third phases are set to proceed as planned. The high-thermal-conductivity high-purity spherical powder material project is currently in the planning and design phase, with subsequent construction slated to commence as scheduled. Once completed, these two projects are anticipated to further solidify the company's market standing in the realm of functional advanced powder materials.

Montage Technology (Stock Code: 688008.SH) has officially declared that, in light of the subscription responses garnered during the inquiry process on May 25, 2026, the tentative pricing for shares transferred via inquiry by shareholders has been established at 250.08 yuan per share. This valuation represents 92% of the closing price recorded on the preceding trading day. Notably, this share transfer initiative has successfully secured full subscription from 20 institutional investors. The proposed transfer encompasses a total of 12.228 million A-shares, which are subject to a six-month lock-up period post-transfer, during which they shall remain non-transferable.

Sunfine New Material Technology has made an announcement revealing that, commencing from the latter half of 2025, the company has witnessed a steady increase in its order backlog for high-end chip-type VCP electroplating equipment, with initial shipments of certain equipment already underway. Presently, the company boasts a robust order backlog, predominantly encompassing VCP electroplating equipment, mSAP electroplating equipment, HVLP5 copper foil electroplating and post-treatment systems, as well as composite copper foil water electroplating apparatus. In the realm of mSAP, several of the company's specialized process chemicals have already been adopted by leading PCB manufacturers. Moreover, the company has successfully clinched orders for mSAP electroplating equipment from these premier PCB clients.

Recently, data released by NE Times for the first quarter of 2026 reveals that SIPower Semiconductor Manufactory has secured the second position in China regarding the installed capacity of silicon carbide (SiC) power modules. Holding a market share of 14.6%, this achievement underscores the company's steadily growing competitiveness within the realm of power semiconductors tailored for new energy vehicles.

On May 25, Fitch Ratings reported that Kioxia has demonstrated stronger resilience amid fluctuations in the NAND flash memory market, while maintaining financial flexibility and continuing to invest in technology and production capacity. The report noted that Kioxia's balance sheet has been strengthened, thanks to improved profitability, enhanced cash generation, reduced financing costs following debt refinancing, and deleveraging efforts. Fitch particularly highlighted the strong demand for AI-driven enterprise-grade solid-state drives (SSDs), with the proportion of such products in the company's sales expected to continue rising as data center demand expands. However, Kioxia's profitability remains highly sensitive to NAND flash memory pricing and changes in supply and demand, and subsequent rating actions will depend on whether the cyclical volatility in the memory chip market diminishes. Fitch has upgraded Kioxia's Issuer Default Rating from 'BB+' to 'BBB-', with a stable outlook.