PCB设备2026年度策略：站在业绩兑现的前夕，关注方案升级与新技术的增量空间

东吴证券02-11

（以下内容从东吴证券《PCB设备2026年度策略：站在业绩兑现的前夕，关注方案升级与新技术的增量空间》研报附件原文摘录）核心观点PCB板厂&设备厂自24Q4开始业绩拐点显现，板厂CAPEX高增对应设备厂收入高企。以英伟达目前主要供应商胜宏科技与沪电股份为例，24Q4以来资本开支持续走高。PCB设备&耗材企业兑现业绩主要系下游PCB板厂资本开支强劲&稼动率高。Rubin方案有PCB增量需求。①相比于...

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