ABF Substrate Shortage: Why Are Shennan Circuits and Xingsen Technology Underperforming?

English summary

### ABF Substrate Shortage: Why Are Shennan Circuits and Xingsen Technology Underperforming? Time: 2026-07-30 15:12:01 Content: Global capital markets had a tough July! In July, global markets were struggling, with the storage sector dragging down AI hardware, first killing valuations, then killing sentiment. Theoretically, the fundamental of the PCB sector in AI hardware has not changed significantly. Current market divergence may lie in the following two points: On the technical side, the previous institutional herding caused excessive gains in the sector and hot stocks, leading to sharp short-term declines, making it difficult to absorb upper-level chips and triggering panic sentiment. Whenever funds try to push prices up, ultra-short-term stop-loss/take-profit chips create huge resistance. On the fundamental side, AI hardware expansion inherently carries heavy-asset investment attributes. After Q1 and interim results are realized, annual performance may be excellent, but most of it has already been reflected in earlier stock prices.…