Nanya New Material Technology plans 740 million yuan capital increase for Jiangsu subsidiary to advance AI computing copper-clad laminate project

Sinoma Science & Technology disclosed on the evening of October 8 the results of its 2025 share issuance to specific investors. The company issued a total of 87.1819 million shares at 51.40 yuan per share to 15 investors, raising 4.481 billion yuan, of which more than 3.1 billion yuan will be used for an electronic fabric expansion project. Institutions dominated this private placement. E Fund Management was allotted 19.8833 million shares worth 1.022 billion yuan, making it the largest subscriber. Caitong Fund and Nuode Fund were allotted 485 million yuan and 427 million yuan respectively. UBS AG, Harvest Fund, and China Life Pension also participated. China National Building Material United Investment, a wholly owned subsidiary of the actual controller China National Building Material Group, was allotted 820 million yuan for 15.9562 million shares, with an 18-month lock-up period. Well-known retail investor Ge Weidong was allotted 13.6187 million shares worth about 700 million yuan. His highest bid of 59.15 yuan per share was the highest offer of the day. Retail investors Zhong Ge and Chen Xuegeng were each allotted 1.9455 million shares worth about 100 million yuan. Of the proceeds, 1.662 billion yuan is planned for a project with annual output of 35 million meters of low-dielectric fiberglass cloth, and 1.475 billion yuan is planned for a project with annual output of 24 million meters of ultra-low-loss low-dielectric fiberglass cloth.

Krungsri Securities Public Company Limited has maintained its Buy rating on KCE Electronics Public Company Limited, or KCE, and raised its target price to 97 baht from 68 baht, citing higher earnings estimates and a positive view of the product price-increase cycle. The research team said KCE, as a major manufacturer of printed circuit boards, or PCB, for the automotive industry, is entering an upcycle in product pricing after raw material costs, especially copper, continued to rise. The company plans to raise PCB selling prices by about 9-10% in line with higher raw material costs, and there is evidence supporting the possibility that KCE will raise PCB selling prices again in October 2026, with the additional October price increase now included in the estimates, compared with earlier expectations of increases in July and January 2027. The research team therefore raised its profit estimates for KCE in 2026 and 2027 by 5% and 28% respectively, expecting 2027 profit to grow about 82% from 2026, which is expected to grow around 77%, driven by higher revenue and gross margin expansion. KCE also has a cost advantage over competitors because it owns its laminate production facilities. These estimates do not yet include revenue from Tesla, which, if it materialises as planned, would be additional upside to future estimates.

BOE held an online briefing on its 2026 half-year results on September 22 during the Global Innovation Partner Conference 2026. First-half revenue exceeded 100 billion yuan, reaching 103.1 billion yuan, with net profit attributable to the parent of 5.2 billion yuan, up 1.8 percent and 61.6 percent year on year respectively. Chairman Chen Yanshun said at the meeting that the company has updated its corporate positioning to a globally leading technology innovation company, using optoelectronic fusion technology to drive the intelligent connection of all things. In the display business, shipments of LCD panels in the five mainstream applications continued to rank first globally, while AMOLED shipments exceeded 80 million units, maintaining first place in China and second globally. China's first 8.6-generation OLED production line began mass production in June 2026. In the innovation business, the glass-based packaging substrate pilot line has achieved fully automated equipment line connection and sample delivery. The steady-state efficiency of the perovskite glovebox reached 27.61 percent. In the field of optical interconnect, the company has established project teams for Micro LED optical interconnect systems and glass-based substrate CPO technology. Chen Yanshun said the display business provides the company with approximately 40 to 50 billion yuan in operating cash flow each year, which can cover spending on LCD and OLED, innovation businesses, and investor returns. On shareholder returns, as of July 31 the company had repurchased approximately 86 million A-shares and 85 million B-shares, with total payments of nearly 500 million yuan and 400 million Hong Kong dollars. The controlling subsidiary Hefei BOE Display Technology completed a targeted capital reduction for minority shareholders, with registered capital reduced from 24 billion yuan to 17.55 billion yuan, and the company's shareholding increased from 36.67 percent to 50.14 percent.