The concept of PCB (printed circuit board) rose sharply across the board on January 9, and many stocks rose to the limit. According to media reports, the explosion of this sector may be due to a message posted by a big V on the Internet, which pointed out that the value of PCBs is very powerful, and the value of an NVL72 cabinet PCB is $171,000, which is second only to GPU (graphics processing unit) and even larger than CPU.

PCB is a physical platform that carries various computing core components such as AI chips, GPUs, FPGAs, and other supporting electronic components, providing stable electrical connections and mechanical support for these components, ensuring the physical structural integrity and stability of AI computing systems, and is known as the "mother of electronic products".

According to the research report of CITIC Securities, the PCB sector mainly benefits from the bottoming out of the industry cycle and the moderate recovery of demand, the upward trend of domestic companies' product structure brought about by the high prosperity of AI computing power and automotive electronics, and the supplier benefit logic under the medium-term drive replacement logic of end-side AI, continue to be optimistic about the performance of the PCB sector in the future.

On the interactive platform, a number of PCB-related companies have recently disclosed their business to investors, and Panorama selects the most authentic voices from listed companies for you. (The following content is excerpted from Shenzhen Stock Exchange Interactive Easy, SSE e-Interactive, listed company announcements, etc.).

What is the R&D progress of the company's 800G optical module PCB products? Is there a layout for the research and development of higher-speed optical module PCB products?

Guanghe Technology [001389]: The company has R&D and sample production of 800G optical module PCB products to customers, and there are no mass production orders. The company continues to pay attention to the development trend of cutting-edge technology and produces products that meet the needs of the market and customers.

I saw that the PCB application field on your company's official website mentions data centers and special computers, can you introduce them in detail?

Q&D Circuit[301628]: The company's downstream customers are involved in many industries, and its products are widely used in industrial control, communication equipment, automotive electronics, consumer electronics, medical health and semiconductor testing and other fields. A data center is a network of specific devices for global collaboration, which is used to transmit, accelerate, display, calculate, and store data information on the Internet network infrastructure, and belongs to the field of communication equipment. Special computer refers to an industrial computer with special applications and special functions, which belongs to the field of industrial control. With the rapid development of PCB downstream industrial automation equipment, industrial Internet, 5G, data centers and intelligent terminals and other application markets, high-frequency, high-speed, high-rise, high-density printed circuit boards and special printed circuit boards and other high-end PCB products have become key products to enhance industrial innovation capabilities.

How much revenue can the new plant in Zhuhai increase revenue for the company in 2025?

Suntak Technology [002815]: The Zhuhai No. 2 plant in the second phase of the Suntak project in Zhuhai has been put into trial production in June 2024, with an additional production capacity of 60,000 square meters per month of high-multilayer PCB boards, which are mainly used in servers and other fields. The infrastructure project of Zhuhai No. 3 Plant has been completed, and production will be started in due course according to the company's overall planning and market demand. The commissioning of the new plant in Zhuhai will help increase the company's production capacity in the field of high-end PCB products, and the company will continue to increase the production capacity of the Zhuhai factory.

Does Kexiang have any products that can be applied to data centers? The company's stock price has fallen year after year, and it is hoped that the company will concentrate on the development of new technology industries to improve the company's continuous loss status.

Kexiang Co., Ltd. [300903]: The company provides PCB products in data center related fields for some customers.

Is there a breakthrough in the company's business progress in the field of optical module PCB?

Zecheng Electronics [837821]: The company has established an HDI PCB product line based on its self-developed RCC material NBCF and FIPIS technology (fine pitch subtraction method), aiming to become the second growth curve of Zecheng Electronics. In order to meet the market demand for high-speed optical module PCBs of 800G and above, the company has continued to promote the corresponding PCB products to the world's leading optical module manufacturers since the fourth quarter of last year, and has completed the sampling of most of the R&D products with 1.6T optical module specifications. At the same time, optical module manufacturers usually need to go through a complete bidding process before assigning mass production orders to qualified suppliers, so actively participating in the bidding of mainstream optical module manufacturers in the first half of 2025 is the company's focus in the fourth quarter, and the goal is to obtain mass production product orders in the first half of next year by winning the bid. In view of the fact that the shipments of global optical module manufacturers are mainly based on 400G specifications, the company will target the mass delivery of PCBs for 400G optical modules in the first half of next year, and actively promote the mass production of 800G/1.6T optical module products with optical module manufacturers. Whether this goal can be achieved depends on a variety of factors such as market conditions, and there is some uncertainty. (Source: Announcement No.: 2024-067 of the Investor Relations Activity Record Form of Shenzhen Zecheng Electronics Co., Ltd. on November 22, 2024).

Is your company's PCB board applied to artificial intelligence? For example, AI servers and so on.

Ultrasonic Electronics[000823]: The rapid development of artificial intelligence technology has a positive impact on the company's product business, and the company has mass production of printed board products used in high computing power and high-performance computing.

With the rapid development of computing power and data centers, will it promote the company's business?

Dingtai Hi-Tech[301377]: The rapid development of computing power and data center has a certain positive impact on the company's business development in the PCB industry.

What are the main sources of the company's current orders in AI

Yibo Technology [301366]: Judging from the data of the 2023 annual report, the orders of artificial intelligence customers have increased significantly compared with previous years, and from the current point of view, the growth trend is obvious. The company has many cooperation with leading enterprises related to artificial intelligence, mainly providing PCB design, SI/PI simulation and back-end PCBA R&D proofing and small and medium-volume manufacturing services, and the business scope of such customers mainly includes voice recognition, picture recognition, robots, robotic arms, surgical arms, intelligent manufacturing, etc.

AI is the trend of the times, what are the applications of the company's products in terms of AI? Are there direct applications or indirect supplies such as AI glasses or AI mobile phones?

Sihui Fushi [300852]: The company pays great attention to the development opportunities brought by AI applications to various industries, accelerates the pace of expansion in emerging fields, and creates new growth points for the company's development.

The number of PCB layers has reached an astonishing 30 layers, and the high-level PCB will undoubtedly contribute to the rapid development of the field of artificial intelligence. So I want to ask if the company can be used for the improvement of high-end intelligent equipment, such as in the field of humanoid robots and autonomous driving, which has been 30 floors?

Wilco [301251]: The company's PCB products have many customers and terminal applications in the field of AI. The company also attaches great importance to the development of AI technology, continues to increase R&D investment and layout, grasps the development of future technologies and products, and meets the higher requirements of customers. At present, the above-mentioned industries account for a relatively small proportion of the company's orders, which has little impact on the company's business, please be aware of the investment risks.

Is there a big difference between the company's low-altitude aircraft PCB products and traditional automotive electronic PCB products? At present, the company's low-altitude aircraft PCB customers are mainly from domestic or foreign manufacturers?

Xingsen Technology [002436]: Low-altitude aircraft PCBs are different from traditional automotive electronic PCBs in terms of materials, manufacturing processes, and technical requirements to meet the special needs of their respective application scenarios. At present, the company's low-altitude aircraft PCB customers are mainly domestic.

When will the company's PCB production line be put into production and how much capacity is expected

Potevio Technology[002544]: The company's high-end PCB production line construction project is progressing in an orderly manner.

Are the copper foils and copper clad laminates produced by your company used in semiconductors? What are the advantages of the product if it is applied to semiconductors?

Baoding Technology [002552]: The company's copper foil and copper clad laminate products are mainly supplied to downstream PCB manufacturers, which are widely used in 5G communications, tablet computers, smart phones, automotive electronics and other fields.

The AI industry chain continues to explode, the market demand for high-end PCBs continues to rise, and downstream companies are expanding production and increasing efficiency.

Xinqi Micro Assembly [688630]: With the rapid development of AIGC and the continuous upgrading of PCB product structure, the company's PCB mid-to-high-end products are currently making good progress, and the transfer of downstream customers' production capacity in Southeast Asia has led to an obvious growth trend in overseas orders.

What is the layout and expansion of Eaton Electronics in the fields of AI mobile phones, AI hardware, Nvidia, Microsoft, etc.? When will the company's factories in Sichuan and Thailand start? Please elaborate. What R&D innovations does the company have in the field of printed circuit boards?

Eaton Electronics[603328]: 1. The company's printed circuit boards have the characteristics of high precision, high density and high reliability, and have been widely used in automotive electronics, new energy and power supply, computer and communication, industrial control and medical, multimedia and display and other fields. The company has always paid attention to the development and application of cutting-edge PCB technology, and will actively carry out the research and development and application of new technologies and new products in combination with market demand and its own business advantages. Based on the principle of commercial confidentiality, please understand that the company is inconvenient to reply to questions involving specific customers. 2. Sichuan Eaton New Materials Co., Ltd. is mainly engaged in the business of printed circuit boards and related raw materials, and the current operation is in order; The groundbreaking ceremony for the Taihua Electronics Precision Circuit Board Intelligent Manufacturing Project (Phase I) of the Thai production base in Thailand has been held on December 12, 2024, and the company will coordinate its project progress based on strategic development planning and business needs.

Your company is located in Zhuhai Gaolan Port Economic Zone Equipment Manufacturing Zone (South Zone), forming 600,000 square meters of HDI (including mSAP technology) production capacity, the main products HDI, like the carrier board and IC carrier board have been mass-produced, your company's carrier board technology can meet the current HBM storage widely used 2.5D+3D advanced packaging integrated circuits are using the IC substrate as the chip's ability to transfer board?

Kinwong Electronics[603228]: As a national high-tech enterprise specializing in PCB R&D, production and sales, the company has an experienced R&D and engineering team in the industry, which can produce thick copper plates, metal-based circuit boards, HLC boards, HDI boards, rigid-flex boards, carrier-like boards and other types of products.

The company's revenue increase in the first three quarters is mainly due to the expansion of new customers in new fields such as automotive electronics, new energy vehicles, industrial control and medical care, AI computing power, low-orbit satellites, aerospace and so on in recent years.

Aohong Electronics[605058]: The company's business is the research and development, manufacturing and sales of printed circuit boards (PCB), the downstream application of PCB products is wide, and the market situation is constantly changing with the development of technology and the economic environment; In order to meet customer needs and strengthen the company's core competitiveness, the company needs continuous product technology innovation, expand new areas and new customers, and ensure the sustainable development of the company. Thank you for your interest!

Can your PCB products be applied to robots?

Tiantong Co., Ltd. [600330]: The company's PCB products can be applied to robots.

Does your company's PCB be applied to robots?

Champion Asia Technology [603386]: The company's main business is the research and development, production and sales of printed circuit boards (PCB) and surface mount (SMT) of printed circuit boards.

Is Huawei's latest 5.5G communication equipment substrate your product? Has the company developed the world's first 6G substrate into mass production?

Shengyi Technology [600183]: According to the information released by the three major operators, 5G-A has good business prospects, richer product forms, mature series of products and complete layout, and is the core and main supplier of 5G-A network hardware PCB substrates. 6G communication involves a variety of technologies, countries and communication terminals are still in the pre-research, we have been closely following customer needs in research. Through the research and development of extremely low transmission rate products, the performance design and research and development of RF products, as well as years of cooperation and development with the upstream and downstream industry chains, and the mastery and application of various independent innovative process technologies, we can cooperate with the terminal to develop composite materials with more performance challenges.

Should the company's PCB aluminum-based copper clad laminate be applied to new energy vehicles?

Yihao New Materials[301176]: The company's PCB products are widely used, and the company's double-layer PCB products have been applied to terminal products such as car lights.

What are the characteristics of the company's pcB products for humanoid robots, and whether they are shipped in batches?

Victory Giant Technology[300476]: The company's PCB products used in the field of humanoid robots have been shipped in small batches.

The MACD golden cross signal is formed, and these stocks are on a good rally!