PCB行业周报（20241202-1206）

Investment Rating - The report does not explicitly state an investment rating for the PCB industry, but it suggests a positive outlook for companies investing in Thailand due to the increasing application of AI and rising demand for high-layer PCBs and advanced HDI products [4][17]. Core Insights - The PCB sector outperformed the electronics sector and the CSI 300 index during the week of December 2-6, 2024, with a rise of 4.13% compared to 1.61% and 1.44% respectively [2][13]. - Significant investments are being made in the PCB industry, particularly in Vietnam and Thailand, with companies like Victory Giant Technology and Suntak Technology planning substantial capital raises for new projects [3][4][15][16]. - The trend of PCB capacity shifting to Thailand is evident, driven by the increasing demand for AI applications and server shipments [4][17]. Summary by Sections Sector Index Weekly Tracking - The SW Printed Circuit Board index rose by 4.13%, outperforming the SW Electronics index by 2.52 percentage points and the CSI 300 by 2.68 percentage points during the specified week [2][13]. Sector Stocks Weekly Tracking - The top three gainers in the PCB sector were Tianjin Printronics Circuit Corporation (25.79%), Shengyi Electronics (18.62%), and Huizhou China Eagle Electronic Technology Inc. (10.06%). The top three decliners were Founder Technology Group (-3.67%), Willgo (-1.35%), and Fastprint Circuit Tech (-0.93%) [2][14]. Key PCB Industry Investments - Victory Giant Technology plans to raise up to RMB 1.98 billion for projects in Vietnam and Thailand, with significant investments allocated for AI HDI products and high-layer PCBs [3][15]. - Suntak Technology is also investing up to RMB 500 million in overseas projects, focusing on enhancing global supply capabilities in Southeast Asia [4][16]. Investment Advice - The report recommends focusing on PCB manufacturing companies, PCB material companies, and PCB equipment companies that are investing in Thailand, as the demand for high-layer PCBs and advanced HDI is expected to grow [4][17].