Changes in Hong Kong stocks | Sanhuan Group (06951) rose more than 5% in the intraday period, AI's demand for MLCC continues to be strong, institutions say the industry is moving towards structural shortages

The Zhitong Finance App learned that Sanhuan Group (06951) had an intraday increase of more than 5%. As of press release, it had risen 5.12% to $131.3, with a turnover of HK$84.5521 million.

According to the news, Murata recently announced that it will discontinue production of a number of consumer-grade and automotive-grade MLCC models in the 2026 fiscal year, covering mainstream series such as GRM and GCM. Guojin Securities said that judging from the price increase of leading MLCC manufacturers and Murata's gradual withdrawal from application scenarios such as consumer electronics, vehicle regulations, and RF applications, AI's demand for MLCC continues to be strong, and the rate of expansion of production cannot keep up with the increase in AI demand, and it continues to be optimistic about the industrial chain benefiting from MLCC.

Huafu Securities pointed out that the difference in this round of the market is that AI servers are increasing the consumption of higher capacity products. The number of multilayer ceramic capacitors (MLCCs) used by AI servers is more than 10 times that of ordinary servers and requires continuous operation in a high temperature and high pressure environment; at the same time, supply-side AI forms a “siphon effect”: the production capacity consumption ratio between high-capacity MLCCs and ordinary MLCCs reached 7:1, and the yield rate declined. In the future, more common materials may be squeezed out during the conversion process, causing supply to become even more tight.