← Shennan Circuits overview

Shennan Circuits vs Chaozhou Three-circle: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Shennan Circuits Co Ltd Class A (002916.CS)

Q3 2026
▲2▼2

AI demand lifts Shennan Circuits profits, but valuation fears bite

  • AI-driven PCB upcycle lifts Shennan Circuits Electronic fabric prices jumped 17-18% in August, their biggest monthly gain this year, as AI power supplies squeeze supply. Analysts say the global PCB industry is entering a new upcycle, with server PCB market space set to double to over 90 billion yuan in 2026. Shennan Circuits, a PCB maker, rose over 5% in the sector rally.

    This is the core positive force behind the stock: AI demand driving PCB pricing and sector-wide gains.

  • First-half profit jumps 65.55% on AI orders Shennan Circuits reported first-half 2026 revenue of 15.296 billion yuan, up 46.33%, and net profit of 2.251 billion yuan, up 65.55% year on year. The company credited AI computing infrastructure investment and new customer wins. Second-quarter profit of 1.401 billion yuan beat the midpoint of its own forecast.

    Strong earnings confirm the AI demand story is flowing into actual profits, a key support for the stock.

  • OpenAI revenue miss triggers AI hardware selloff OpenAI's annualized revenue run rate came in about $20 billion below expectations, sparking panic. A-share computing hardware stocks fell hard, with Shennan Circuits dropping more than 6% along with other PCB names. The selloff reflects fears that AI spending may not justify current valuations.

    This is the main counterweight: a sharp sentiment-driven drop showing how sensitive the stock is to AI spending doubts.

  • China GDP slowdown weighs on electronics demand China's second-quarter GDP growth slowed to 4.3%, missing expectations, and the Shanghai Composite fell. Semiconductor and electronic component stocks, including Shennan Circuits, declined as investors worried about weaker demand for electronics. This is a broad economic headwind rather than a company-specific problem.

    It shows a macro risk that can pressure demand for Shennan Circuits' products, balancing the bullish AI narrative.

August 2026
▲2▼2

AI demand lifts Shennan Circuits profits, but valuation fears bite

  • AI-driven PCB upcycle lifts Shennan Circuits Electronic fabric prices jumped 17-18% in August, their biggest monthly gain this year, as AI power supplies squeeze supply. Analysts say the global PCB industry is entering a new upcycle, with server PCB market space set to double to over 90 billion yuan in 2026. Shennan Circuits, a PCB maker, rose over 5% in the sector rally.

    This is the core positive force behind the stock: AI demand driving PCB pricing and sector-wide gains.

  • First-half profit jumps 65.55% on AI orders Shennan Circuits reported first-half 2026 revenue of 15.296 billion yuan, up 46.33%, and net profit of 2.251 billion yuan, up 65.55% year on year. The company credited AI computing infrastructure investment and new customer wins. Second-quarter profit of 1.401 billion yuan beat the midpoint of its own forecast.

    Strong earnings confirm the AI demand story is flowing into actual profits, a key support for the stock.

  • OpenAI revenue miss triggers AI hardware selloff OpenAI's annualized revenue run rate came in about $20 billion below expectations, sparking panic. A-share computing hardware stocks fell hard, with Shennan Circuits dropping more than 6% along with other PCB names. The selloff reflects fears that AI spending may not justify current valuations.

    This is the main counterweight: a sharp sentiment-driven drop showing how sensitive the stock is to AI spending doubts.

  • China GDP slowdown weighs on electronics demand China's second-quarter GDP growth slowed to 4.3%, missing expectations, and the Shanghai Composite fell. Semiconductor and electronic component stocks, including Shennan Circuits, declined as investors worried about weaker demand for electronics. This is a broad economic headwind rather than a company-specific problem.

    It shows a macro risk that can pressure demand for Shennan Circuits' products, balancing the bullish AI narrative.

Latest
▲2▼2

AI demand lifts Shennan Circuits profits, but valuation fears bite

  • AI-driven PCB upcycle lifts Shennan Circuits Electronic fabric prices jumped 17-18% in August, their biggest monthly gain this year, as AI power supplies squeeze supply. Analysts say the global PCB industry is entering a new upcycle, with server PCB market space set to double to over 90 billion yuan in 2026. Shennan Circuits, a PCB maker, rose over 5% in the sector rally.

    This is the core positive force behind the stock: AI demand driving PCB pricing and sector-wide gains.

  • First-half profit jumps 65.55% on AI orders Shennan Circuits reported first-half 2026 revenue of 15.296 billion yuan, up 46.33%, and net profit of 2.251 billion yuan, up 65.55% year on year. The company credited AI computing infrastructure investment and new customer wins. Second-quarter profit of 1.401 billion yuan beat the midpoint of its own forecast.

    Strong earnings confirm the AI demand story is flowing into actual profits, a key support for the stock.

  • OpenAI revenue miss triggers AI hardware selloff OpenAI's annualized revenue run rate came in about $20 billion below expectations, sparking panic. A-share computing hardware stocks fell hard, with Shennan Circuits dropping more than 6% along with other PCB names. The selloff reflects fears that AI spending may not justify current valuations.

    This is the main counterweight: a sharp sentiment-driven drop showing how sensitive the stock is to AI spending doubts.

  • China GDP slowdown weighs on electronics demand China's second-quarter GDP growth slowed to 4.3%, missing expectations, and the Shanghai Composite fell. Semiconductor and electronic component stocks, including Shennan Circuits, declined as investors worried about weaker demand for electronics. This is a broad economic headwind rather than a company-specific problem.

    It shows a macro risk that can pressure demand for Shennan Circuits' products, balancing the bullish AI narrative.

Chaozhou Three-circle Group Co Ltd (300408.CS)

Q3 2026
▲3▼1

Buybacks and AI-driven MLCC boom lift Sanhuan; anchor investor exits

  • Company buybacks and ICBC loan support Sanhuan launched two buyback phases totaling up to 1.9 billion yuan and secured a 900 million yuan ICBC loan for it. By September 30 it had repurchased 8.65 million shares for 995 million yuan. Buybacks reduce shares outstanding and signal management confidence, supporting the stock price.

    Direct company capital actions that support the share price.

  • MLCC supercycle and AI server demand MLCC spot prices have jumped over 20% for standard parts and 60-80% for high-capacitance AI server types since June. Overseas leaders Murata and Samsung Electro-Mechanics posted record results and raised guidance. Analysts see the upcycle as early, boosting demand and pricing for Sanhuan's products.

    Core industry driver of revenue and profit growth for the company.

  • Strong earnings and fund demand Sanhuan guided first-half net profit up 45-65% year-on-year, with actual revenue up 54.8% and net profit up 56.2%. A top-performing fund held it as a heavy weight and increased electronics holdings. Strong results and institutional buying support the stock.

    Fundamental earnings growth and institutional demand underpin the stock.

  • Anchor investor fully exits H-shares Huafeng International, an anchor investor in Sanhuan's Hong Kong IPO, plans to sell its remaining 360,400 H-shares, fully exiting after already selling 420,900 shares near the H-share peak. The exit adds selling pressure and may weigh on sentiment, though it is a small stake.

    A real counterweight: insider selling that can pressure the stock.

August 2026
▲3▼1

Buybacks and AI-driven MLCC boom lift Sanhuan; anchor investor exits

  • Company buybacks and ICBC loan support Sanhuan launched two buyback phases totaling up to 1.9 billion yuan and secured a 900 million yuan ICBC loan for it. By September 30 it had repurchased 8.65 million shares for 995 million yuan. Buybacks reduce shares outstanding and signal management confidence, supporting the stock price.

    Direct company capital actions that support the share price.

  • MLCC supercycle and AI server demand MLCC spot prices have jumped over 20% for standard parts and 60-80% for high-capacitance AI server types since June. Overseas leaders Murata and Samsung Electro-Mechanics posted record results and raised guidance. Analysts see the upcycle as early, boosting demand and pricing for Sanhuan's products.

    Core industry driver of revenue and profit growth for the company.

  • Strong earnings and fund demand Sanhuan guided first-half net profit up 45-65% year-on-year, with actual revenue up 54.8% and net profit up 56.2%. A top-performing fund held it as a heavy weight and increased electronics holdings. Strong results and institutional buying support the stock.

    Fundamental earnings growth and institutional demand underpin the stock.

  • Anchor investor fully exits H-shares Huafeng International, an anchor investor in Sanhuan's Hong Kong IPO, plans to sell its remaining 360,400 H-shares, fully exiting after already selling 420,900 shares near the H-share peak. The exit adds selling pressure and may weigh on sentiment, though it is a small stake.

    A real counterweight: insider selling that can pressure the stock.

Latest
▲3▼1

Buybacks and AI-driven MLCC boom lift Sanhuan; anchor investor exits

  • Company buybacks and ICBC loan support Sanhuan launched two buyback phases totaling up to 1.9 billion yuan and secured a 900 million yuan ICBC loan for it. By September 30 it had repurchased 8.65 million shares for 995 million yuan. Buybacks reduce shares outstanding and signal management confidence, supporting the stock price.

    Direct company capital actions that support the share price.

  • MLCC supercycle and AI server demand MLCC spot prices have jumped over 20% for standard parts and 60-80% for high-capacitance AI server types since June. Overseas leaders Murata and Samsung Electro-Mechanics posted record results and raised guidance. Analysts see the upcycle as early, boosting demand and pricing for Sanhuan's products.

    Core industry driver of revenue and profit growth for the company.

  • Strong earnings and fund demand Sanhuan guided first-half net profit up 45-65% year-on-year, with actual revenue up 54.8% and net profit up 56.2%. A top-performing fund held it as a heavy weight and increased electronics holdings. Strong results and institutional buying support the stock.

    Fundamental earnings growth and institutional demand underpin the stock.

  • Anchor investor fully exits H-shares Huafeng International, an anchor investor in Sanhuan's Hong Kong IPO, plans to sell its remaining 360,400 H-shares, fully exiting after already selling 420,900 shares near the H-share peak. The exit adds selling pressure and may weigh on sentiment, though it is a small stake.

    A real counterweight: insider selling that can pressure the stock.