SIASUN(SZ:300024) Zhong Guo Neng Yuan Wang·2025-09-01 01:02Industry Overview - The global PCB industry value is expected to decline by 14.9% in 2023 but is projected to grow by 5.9% to $73.6 billion in 2024 [1][2] - The PCB market is anticipated to grow by 6.8% in 2023, driven by the recovery in consumer electronics and increased demand for high-value PCB products, particularly from AI servers [1][2] - From 2024 to 2029, the global market for PCBs used in servers/storage is expected to have a compound annual growth rate (CAGR) of 10.0%, while the overall PCB market is projected to grow at a CAGR of 5.6% [1][2] Company Recommendations - Companies to watch in the PCB equipment sector include: - 大族数控 (Dazhu CNC) for drilling equipment - 芯碁微装 (Xinqi Micro) for exposure equipment - 鼎泰高科 (Ding Tai High-Tech) for drilling needles - 中钨高新 (Zhongtu High-Tech) for drilling needles - 凯格精机 (Kaige Precision) for solder paste printing - 东威科技 (Dongwei Technology) for electroplating [2] Specific Company Insights - 绿田机械 (Lvtian Machinery) is focused on general power machinery products and has begun mass production of energy storage products. The company is expected to see net profit growth rates of 24.1%, 55.9%, 56.3%, and 70.4% from Q3 2024 to Q2 2025 [2] - 宏华数科 (Honghua Digital Science) continues to experience rapid growth in digital printing equipment, with projected revenue of 1.04 billion yuan and net profit of 250 million yuan for the first half of 2025, reflecting year-on-year growth of 27.2% and 25.2% respectively [3] - 新锐股份 (Xinxin Co.) has reported revenue growth of 28.97% and net profit growth of 2.88% in the first half of the year, with expectations for improved profitability as business growth stabilizes [5]