The PCB industry is gradually picking up steam, and the sector continues to be active. Wind data shows that the share prices of leading companies such as Shanghai Electric Co., Ltd., Shennan Circuit (002916.SZ), Pengding Holdings, Shengyi Electronics (688183.SH), and Shenghong Technology (300476.SZ) have all increased by more than 50% since the beginning of the year ... Among them, the cumulative increase of Shenghong Technology reached 110%.
Automotive electronics is one of the recovery forces. Automotive electronics is a downstream application field that has seen rapid growth in recent years.
From 2022 to 2027, the global average annual compound growth rate of PCB output value is approximately 2%, of which the server/data transmission sector has a growth rate of 6.5% and the automotive sector has a growth rate of 4.8%.
PCB is the core component of automotive electronic control systems. The continuous increase in the penetration rate of autonomous driving and new energy vehicles will bring about structural demand for automotive PCBs.
Self-driving taxis require a large number of sensors, lidar and other electronic equipment to achieve intelligent control, which will increase the amount of PCB used. If self-driving cars are fully rolled out in the future, it will be a large incremental market for PCBs.
When a self-driving vehicle encounters a risky situation, the lidar must transmit the signal to the "main brain" of the vehicle at a very fast speed and take braking measures. When the signal is transmitted on the PCB, the signal layer must be insulated from the outside. There will be inductance and impedance between layers, as well as between lines, which will cause signal distortion. The solution is to use PTFE materials with better performance to replace the traditional epoxy resin plus glass cloth materials to achieve superior transmission performance. ...
The company's automotive electronic PCB products are indirectly used in electronic equipment such as radars, sensors, antennas, and vehicle-mounted satellite positioning and navigation systems in the vehicle-road-cloud collaborative system; Shenzhen South Circuit also regards automotive electronics as one of the key areas of expansion of its PCB business. It is reported that the company focuses on new energy and ADAS, and mainly produces high-frequency, HDI, rigid-flex, thick copper and other products. Among them, the proportion of products in the ADAS field is relatively high, which is used in cameras, radars and other equipment.
It is understood that the amount of PCB used in new energy vehicles is approximately 4-5 times that of traditional fuel vehicles. Automotive electronic PCBs have extremely high requirements for reliability and require rigorous testing and verification for up to 1-3 years before they can be certified as qualified suppliers by auto parts manufacturers.
Under the trend of electrification, networking and intelligence in the automotive industry, more and more automotive chips are used, and the requirements for circuit board integration and design accuracy have also increased significantly. For example, the manufacturing process of PCB boards for autonomous driving is generally relatively complex, and the market The price and profit margin are relatively high, which can help Chinese PCB companies achieve transformation and upgrading.
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