According to the Zhongtai Securities Research Report, the 26H1 performance of Pengding Holdings is in line with expectations, and the AI business is progressing smoothly. 26H1 achieved revenue of 17.217 billion yuan, yoy +5.14%, net profit to mother of 1,284 billion yuan, yoy +4.11%. The AI business grew rapidly in the first half of the year, and exchange losses had a negative impact on profits. Continue to develop new products through heavy research and development, and continue to expand production to further lay out AI computing power and optical module circuits. In May 2026, the company competed for new industrial land in Shenzhen, and the board of directors proposed to invest RMB 10 billion to build a new Shenzhen Third Park to build an intelligent manufacturing base project for advanced artificial intelligence carrier boards and flexible circuit boards, and continue to expand production to lay the foundation for future growth. Considering the advantages and production capacity reserves of subsequent companies under pressure from consumer electronics this year, the company's 2026/2027/2028 net profit was adjusted to be 53.95/87.74/12.745 billion yuan. According to the 2026/8/11 closing price, PE was 41.5/25.5/17.6 times, maintaining the “buy” rating.

According to the Zhongtai Securities Research Report, the 26H1 performance of Pengding Holdings is in line with expectations, and the AI business is progressing smoothly. 26H1 achieved revenue of 17.217 billion yuan, yoy +5.14%, net profit to mother of 1,284 billion yuan, yoy +4.11%. The AI business grew rapidly in the first half of the year, and exchange losses had a negative impact on profits. Continue to develop new products through heavy research and development, and continue to expand production to further lay out AI computing power and optical module circuits. In May 2026, the company competed for new industrial land in Shenzhen, and the board of directors proposed to invest RMB 10 billion to build a new Shenzhen Third Park to build an intelligent manufacturing base project for advanced artificial intelligence carrier boards and flexible circuit boards, and continue to expand production to lay the foundation for future growth. Considering the advantages and production capacity reserves of subsequent companies under pressure from consumer electronics this year, the company's 2026/2027/2028 net profit was adjusted to be 53.95/87.74/12.745 billion yuan. According to the 2026/8/11 closing price, PE was 41.5/25.5/17.6 times, maintaining the “buy” rating.