According to a research report from CITIC Securities, the PCB sector has experienced relatively sluggish performance since the start of 2026. This can be attributed not only to the overall underperformance of the computing power and artificial intelligence sectors but also to market concerns centered around challenges in application expansion, delayed technological upgrades, deferred realization of performance benefits, and escalating material costs. Nevertheless, CITIC Securities asserts that the fundamental growth drivers of the AI PCB industry remain intact and are, in fact, gaining strength. The firm maintains a positive stance on these market concerns and foresees a host of catalysts that will propel the sector forward in the near term, coupled with a more defined growth trajectory in the years ahead. From both a performance and valuation standpoint, leading manufacturers are steadily meeting performance expectations, and there remains significant potential for further valuation appreciation. CITIC Securities strongly endorses the upward potential of the PCB sector in the future.