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The rise of domestic PCB manufacturers, the expansion of production to accelerate the industry knockout

Time:2018/12/18Source:Shenzhen yeisn electronic Co., Ltd.
  In the large-scale environment of abundant capital and huge market demand, domestic PCB manufacturers have been rushing to catch up and grow rapidly in the past few years, gradually showing the new voice of the global PCB industry. In particular, the leading manufacturers in the first three quarters of 2018 performed well.
  Judging from the 2018 operating performance of the top 3 PCB factories in China, except for the multi-Fineline Electronix (MFLEX), which was purchased by Dongshan Precision Co., Ltd., it did not disclose the financial figures of the previous three quarters, the old domestic PCB manufacturer Shennan Circuit Light is In the third quarter, revenue increased by 41.22% compared with the same period of 2017. The accumulated revenue in the first three quarters increased by 26.64%, and the accumulated earnings per share increased by 4.97%.
   Another domestic PCB manufacturer, Jingwang Electronics, had a cumulative revenue growth of 18.09% in the first three quarters and a cumulative earnings per share growth of 21.26%. These leading manufacturers are able to achieve significant growth, and continued expansion of investment is a key factor.
   Taking MFLEX as an example, in 2018, its parent company, Dongshan Precision, added US$10 million to MFLEX with its own funds, and acquired all PCB manufacturing businesses of the US FLEX (collectively known as Multek) through MFLEX, further strengthening the scale of the Group's PCB business.
In the first half of 2018, Shennan expanded its high-density connecting board (HDI) and IC carrier board business with a total investment of RMB 500 million, which is more than twice that of the same period in 2017. Jingwang is currently building a new R&D headquarters. In the first half of 2018, R&D expenditures reached RMB 108 million, growing by more than 30%.
   It is worth noting that the main technologies of the three PCB factories in China are in the field with considerable growth potential in the future. MFLEX is a member of the soft board manufacturer and Apple's supply chain, and is light and thin in electronic products. Under the trend of short progress, MFLEX still has considerable room for growth in the soft board market.
   Shennan is actively investing in 5G base stations and high-speed transmission related PCB products. Due to the short transmission distance of 5G, the density of base stations is bound to increase. It is the 5G infrastructure needed in the domestic market, which may lead to strong growth in the operation of Shennan.
   As for Jingwang, which has both soft board and hard board technology, in addition to the fingerprint identification module for mobile phone applications, Jingwang actively cut into the field of automotive electronics. European automotive parts factories including Valeo and Delphi have been It is a customer of Jingwang.
According to Prismark statistics, among the top 30 PCB manufacturers in the world in 2017, there are already 3 domestic manufacturers, and the top 100 PCB factories in the world have more than 30 manufacturers, and all have good growth potential. .
   In fact, the total market share of the top 30 PCB manufacturers in the world has increased from 28.5% in 2004 to 60.5% in 2017. This shows that the global PCB industry is getting bigger and bigger, and this trend also occurs in China. Vendors, especially in recent years, have adopted strict environmental management policies, and more and more small and medium-sized manufacturers are unable to withstand high costs and withdraw from the market.
In addition, under the influence of uncertain factors in the global economy, it is possible to phase out some companies with poor operating capacity. These changes in the environment have led to the concentration of PCB production value to companies with better operational management and larger scale operations. The domestic market has a huge domestic demand market, and the effect brought by business concentration is more obvious.
   Looking at the development of the PCB industry, Japan, once the leader of the PCB industry, has gradually been replaced in recent years because of the slowdown in investment.
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