Hong Kong-listed optics supplier starts shipping lasers for AI circuit boards
Pangaea expects to deliver at least 500 laser systems, worth at least US$55 million, to one equipment maker by March 2027.
Hong Kong-listed Pangaea Connectivity Technology (環聯連訊) said in an Oct. 12 filing that it has signed an exclusive agreement to supply high-power laser source systems to a "leading" maker of circuit-board laser-drilling equipment. It didn't name the buyer.
"Demand for high-speed and high-precision laser processing, including micro-drilling, fine-line circuit structuring and other precision processes, is expected to grow alongside the AI infrastructure investment cycle," the filing stated. Pangaea has also expanded its laser laboratory in Shenzhen for providing after-sales services, including maintenance and laser head replacement, according to the document.
Top-tier board makers use the equipment to make dense boards with many layers, which the filing says are needed for faster AI data-center hardware, including GPUs and advanced chip packages. The lasers mainly drill boards for 1.6T and 3.2T hardware, optical-module speeds in terabits per second that the filing ties to AI data centers.
Deliveries began in October. Pangaea expects to ship at least 500 units by the end of its financial year on March 31, 2027, bringing in at least US$55 million.
While Pangaea expects industrial lasers to become a key growth driver, the company's primary source of revenue is the sale of photodiodes, light sensors used in optical modules. It says revenue for the six months rose more than 80%, mainly on photodiode orders, and it ships about 15 million per month. It expects net profit of at least HK$80 million (about US$10.2 million) for the six months to Sept. 30, a 420% increase over the same period last year.
Sources: Pangaea Connectivity Technology (HKEX filing), 環聯連訊 Pangaea Connectivity Technology (HKEX filing, Chinese)
Editor: Ian Lamont
