Lianhe Hits New Record High on Return from Trading Restriction

Lianhe (6213), a copper clad laminate (CCL) manufacturer, reached a new intraday high of 548 yuan on its first day back from a trading restriction. The stock opened higher but faced selling pressure, causing it to briefly turn negative before buyers stepped in. It ultimately rose 7.4% during the trading session.

The company is experiencing a supply shortage for its high-end CCL products due to robust demand from AI servers, high-performance computing (HPC), and high-speed networking sectors. This increased demand, coupled with price hikes and a higher proportion of high-end product shipments, has boosted its financial performance. Lianhe's first-half net profit of 4.39 yuan per share already exceeds its full-year earnings of 4.16 yuan from the previous year.

Despite the trading restriction, foreign institutional investors, domestic investment trusts, and proprietary traders continued to accumulate shares. Foreign investors were particularly active, purchasing 10,841 shares during the eight-day restriction period, while investment trusts and proprietary traders also added to their holdings. This sustained buying interest has propelled the stock's upward trajectory.