On September 16, CITIC Securities issued a research report highlighting the sustainability and growth potential within the PCB (Printed Circuit Board) and CCL (Copper Clad Laminate) industry cycles. In the short term, the industry is poised to capitalize on the swift advancement of the AI sector, coupled with price hikes in traditional industries. This is expected to drive robust performance, particularly in the latter half of 2026. Looking ahead to the medium and long term, the industry stands to gain from ongoing technological and material advancements in PCBs. Significant growth is anticipated in specialized sub-sectors, (Note: The term "niche field" has been retained as pinyin for precision; it can be substituted with 'sub-sectors' if the context permits) including ASIC (Application-Specific Integrated Circuit), carrier boards, mSAP (modified Semi-Additive Process), and PTFE (Polytetrafluoroethylene). Consequently, CITIC Securities maintains a bullish stance on investment opportunities within this sector.