CCL three giants' monthly revenue hits record high

CCL leaders set new monthly revenue highs: Asian securities firms state that CPO may not be adopted until 2030. By then, the internal PCB of the CPO scale-up switch will still need to support transmission speeds of 800G/1.6T, or possibly even lower. Therefore, even if optical technology allows for maximum transmission bandwidth to be raised to 3.2T, high-end PCB transmission will still be necessary, with CCL specifications maintained at least at M6. Securities firms also believe that PTFE is still in the certification stage and is only used in a limited number of layers in specific high-end PCBs. As such, its impact on high-end CCL TAM is limited.Taiwan Union Technology (2383): Third-quarter revenue greatly exceeded securities firms' expectations, thanks to price increases and product upgrades. There is a possibility of another price hike in the fourth quarter.Elite Material (6274): Also outperformed expectations in the third quarter, with fourth-quarter revenue expected to grow quarter-over-quarter. High-end product prices are also anticipated to rise, and shipments affected by floods in Thailand are expected to be deferred to the fourth quarter. New projects next year are expected to use M9 grade CCL, including low dk1, low dk2, and Q-glass versions.Iteq (6213): Also outperformed expectations in the third quarter, reflecting the effect of price increases. In addition, securities firms believe increased e-glass supply can boost capacity utilization and gross margin. They are optimistic that the introduction of new CPUs next year will drive up the usage of M7 CCL. The company is currently working with new end customers for M9 certification.