深南电路：FC-BGA封装基板具备20层生产能力，尚处于产能爬坡早期

Group 1 - The core viewpoint of the articles highlights the increasing demand for high-performance PCB products driven by advancements in AI technology and the growing needs of the electronic industry for high computing power and fast networks [1] - The PCB business of the company is benefiting from trends in high-speed communication networks, data center switches, AI accelerator cards, and memory products since 2024 [1] - The company reports that its overall business operations are normal, with a relatively high capacity utilization rate, particularly in the PCB sector due to sustained demand in computing power and automotive electronics [1] Group 2 - The company is engaged in the design, research, and manufacturing of high-end PCB products, focusing on applications in communication equipment, data centers, and automotive electronics, among others [2] - The company is upgrading existing PCB factories to enhance capacity and is progressing with the construction of its fourth phase project in Nantong to establish an HDI technology platform [2] - The total investment for the Thailand factory is 1.274 billion RMB, which is currently under orderly construction, aimed at expanding overseas market reach and meeting international customer demands [2] Group 3 - In the high-end packaging substrate sector, the company has achieved mass production capabilities for FC-BGA substrates with 20 layers or fewer, while ongoing R&D for products with more than 20 layers is on schedule [3] - The first phase of the Guangzhou packaging substrate project has commenced production in Q4 2023, with a steady increase in production capacity and acceptance of bulk orders for BT and some FC-BGA products [3] - The company is currently in the early stages of ramping up production capacity, which has led to increased costs and expenses, negatively impacting profitability [3]