Cathay Pacific Haitong released a research report saying that as the global AI computing power infrastructure continues to be built, industry demand is expanding from chip manufacturing to high-speed interconnection, PCB, heat dissipation, and electricity, and the device side is expected to continue to benefit. Domestic equipment manufacturers are moving from single-point equipment verification to platform-based coverage and batch introduction, and domestic substitution is still an important driving force for the industry in the medium to long term. AI capital support continued transmission to the equipment side, and the 2026H1 computing power infrastructure-related sector was further realized. Profit elasticity in the semiconductor equipment, optical module equipment and PCB sectors was outstanding, and demand for liquid cooling and gas turbines remained high.

Cathay Pacific Haitong released a research report saying that as the global AI computing power infrastructure continues to be built, industry demand is expanding from chip manufacturing to high-speed interconnection, PCB, heat dissipation, and electricity, and the device side is expected to continue to benefit. Domestic equipment manufacturers are moving from single-point equipment verification to platform-based coverage and batch introduction, and domestic substitution is still an important driving force for the industry in the medium to long term. AI capital support continued transmission to the equipment side, and the 2026H1 computing power infrastructure-related sector was further realized. Profit elasticity in the semiconductor equipment, optical module equipment and PCB sectors was outstanding, and demand for liquid cooling and gas turbines remained high.