On August 12, South Korea's TLB (KOSDAQ:356860) announced its second-quarter results, reporting sales of KRW 64.1 billion (approx. USD 46 million or CNY 331 million) and an operating profit of KRW 8.1 billion. Both figures marked sharp year-on-year growth of 62% and 831.5%, respectively, with the company swinging to profitability. Net income came in at KRW 4.5 billion, up nearly 300% from a year earlier.

TLB, founded in 2011, specializes in printed circuit boards (PCBs) for memory modules and solid-state drives (SSDs). It was the first in Korea to establish mass production of SSD PCBs and supplies major chipmakers including Samsung Electronics, SK hynix, and Micron. The company is also expanding into PCBs for semiconductor test equipment and recently began operating a new factory in Vietnam to boost global capacity.

Analysts attribute TLB's strong momentum to surging demand from AI servers and data centers, which are driving orders for high-value PCBs used in advanced memory modules such as DDR5. The company has also developed PCB technologies for emerging standards like Compute Express Link (CXL) and SOCAMM, positioning itself for next-generation AI infrastructure.

Brokerages remain upbeat on the stock, with all major firms maintaining “buy” ratings and raising target prices. Huenguk Securities lifted its target to KRW 37,500, citing margin expansion potential from premium products, while other firms project record sales and profits through 2025. Shares of TLB closed at KRW 27,700 on August 13, up more than 50% from early June.

With AI-related demand accelerating, analysts expect TLB's sales to exceed KRW 240 billion in 2025, with operating profit projected to rise more than fivefold compared with last year.