Chinese MLCC firms’ profits and stock prices fatten on hunger for electronic ‘rice’

Chinese manufacturers of multilayer ceramic capacitors (MLCCs) – tiny components required in great numbers to regulate electrical flow in electronic devices – are riding a stock rally on the back of explosive first-half earnings, fuelled by insatiable global demand for artificial intelligence infrastructure. Shares of Shenzhen-listed Guangdong Fenghua Advanced Technology, one of the country’s leading producers of consumer-grade MLCCs, surged by the exchange-imposed 10 per cent daily limit on...