Driven powerfully by the artificial intelligence (AI) wave, the printed circuit board (PCB) industry is facing unprecedented development opportunities. The Ministry of Industry and Information Technology recently solicited public opinions on the "Printed Circuit Board Industry Standard Conditions and Announcement Management Measures (Draft for Comments)." This aims to promote the industry's transformation, upgrading, and shift towards high-end, green, and intelligent development by phasing out outdated production capacity and incentivizing technological innovation, adding another policy tailwind to this high-growth sector.
The vigorous development of the AI industry is directly translating into significant growth for the high-end PCB market. According to data from the authoritative agency Prismark, in 2024, driven by strong demand from AI servers and high-speed networks, the output value of high-layer count boards (18 layers and above) and HDI boards increased significantly by 40.3% and 18.8% year-on-year, respectively, leading the growth among other PCB product segments. Prismark predicts that from 2023 to 2028, the compound annual growth rate of HDI related to AI servers will reach a remarkable 16.3%, making it the fastest-growing engine in the AI server PCB market and opening up vast potential for the industry.
The market fervor is fully reflected in the performance reports of listed companies. According to statistics from Databao, the 44 A-share listed companies in the PCB industry achieved a total operating revenue of 216.191 billion yuan in the first three quarters of this year, a year-on-year increase of 25.36%; their combined net profit attributable to shareholders reached 20.859 billion yuan, surging 62.15% year-on-year. Among them, over 75% of the companies saw year-on-year growth in net profit attributable to shareholders, and four companies successfully turned losses into profits, presenting a prosperous picture of high growth and high profitability for the industry as a whole.
Industry leader Shengyi Electronics performed particularly brilliantly, with its operating revenue for the first three quarters surging 114.79% year-on-year and its net profit attributable to shareholders skyrocketing 497.61%. The company stated in investor communications that the first phase of its high-layer count, high-density interconnect circuit board project for intelligent computing centers has begun trial production, and the second phase is already being planned in advance, demonstrating strong confidence in the market outlook. Another company, Xingsen Technology, which returned to profitability, saw its revenue grow over 23% in the first three quarters. Its CSP packaging substrate capacity is already at full production, newly added capacity is ramping up quickly, and its FCBGA packaging substrate project is in the small-batch production stage, with business expansion steadily progressing.
The industry's robust prospects have also attracted the attention of international capital. Data shows that by the end of the third quarter of this year, a total of 13 PCB concept stocks were heavily held by QFII (Qualified Foreign Institutional Investors), with a combined holding market value reaching 16.635 billion yuan. Among them, industry leader Shengyi Technology had a QFII heavy holding ratio as high as 12.32%, with a holding market value of 15.936 billion yuan, highlighting foreign capital's firm confidence in its long-term value. Companies like Jingwang Electronics and Junya Technology also attracted QFII investments, with well-known foreign institutions such as UBS AG appearing among their top ten shareholders.
From policy guidance to market demand, from performance explosion to capital favor, the PCB industry is standing at the forefront of the AI trend. Leveraging its indispensable core position in the electronics industry chain, it is undergoing a value revaluation driven jointly by the AI wave and market expansion. With capital's favor, its future growth potential deserves continued attention.
---------------------------------------
Source: Global Times
Disclaimer: We respect originality and also value sharing; the copyright of text and images belongs to the original author. The purpose of reprinting is to share more information, which does not represent the stance of this publication. If your rights and interests are infringed, please contact us promptly, and we will delete it as soon as possible. Thank you.
Ваше сообщение должно содержать от 20 до 3000 символов!
