Core Viewpoint - The company, ChaoYing Electronics, has announced a significant investment plan to expand its production capabilities in high-end printed circuit boards (PCBs) for applications such as routers, AI servers, switches, and AI acceleration cards, with an investment of approximately 1.468 billion RMB in Thailand [1][2]. Company Summary - ChaoYing Electronics, established in 2015, specializes in the research, production, and sales of printed circuit boards (PCBs) [1]. - The company successfully went public on the Shanghai Stock Exchange on October 24, 2023, after receiving regulatory approval [1]. Investment Plan - The investment will be made by ChaoYing's wholly-owned subsidiary in Thailand, Dynamic Technology Manufacturing (Thailand) Co., Ltd., to construct an AI computing high-end PCB expansion project in the 304 Industrial Park in Prachinburi, Thailand [1][2]. - The project aims to enhance the production scale of high-end multi-layer and advanced PCBs, improve the company's ability to handle overseas orders, and quickly respond to customer demands [2]. Market Context - The global automotive industry is rapidly transitioning towards electrification, intelligence, and connectivity, leading to an expanding market for PCBs as core electronic components in vehicles [2]. - The prospect of increased PCB usage in electric vehicles is significant, as the electronic components in new energy vehicles account for a much higher proportion of overall vehicle costs compared to traditional vehicles [2]. Financial Performance - For the first three quarters of 2025, ChaoYing Electronics reported a main revenue of 3.378 billion RMB, a year-on-year increase of 10.71%, while the net profit attributable to shareholders decreased by 12.14% to 212 million RMB [3]. - The decline in net profit is attributed to the initial production phase of the Thai subsidiary, resulting in higher production costs and a decrease in gross profit margin [3]. - The company plans to focus on improving operational efficiency and implementing technological upgrades in its production processes over the next three years [3].
超颖电子提升竞争力 拟14.68亿扩产泰国工厂