供货京东方、LG等，PCB厂商超颖电子即将上会

Core Viewpoint - The company Chaoying Electronics is preparing for an IPO, aiming to raise 660 million yuan, with significant investments planned for expansion in high-layer and HDI projects, as well as for working capital and debt repayment [1][3]. Group 1: Company Overview - Chaoying Electronics, established in 2015, specializes in the research, production, and sales of printed circuit boards (PCBs), offering products ranging from double-sided boards to 26-layer boards, HDI boards, thick copper boards, metal substrates, and high-frequency boards [1]. - The company's products are widely used in various sectors, including automotive electronics, displays, storage, consumer electronics, and communications [1]. Group 2: Automotive Electronics - In the automotive electronics sector, Chaoying Electronics is one of the few companies in China capable of mass-producing multi-stage HDI and arbitrary-layer interconnection HDI automotive electronic boards [2]. - The company has established stable partnerships with global Tier 1 automotive suppliers such as Continental, Valeo, Bosch, and Aptiv, as well as well-known electric vehicle manufacturers like Tesla [2]. Group 3: Display Sector - Chaoying Electronics has long-term stable collaborations with leading display panel manufacturers like BOE and LG Group, providing double-sided and metal substrate PCB products for LCD, OLED, and Mini LED displays [2]. - The company has developed ultra-large size LCD display mainboard products to meet the high process requirements for size stability and flatness, currently used in BOE's products larger than 65 inches [2]. Group 4: Storage Sector - The company's products are primarily applied in mechanical hard drives, solid-state drives, and memory modules, with stable partnerships established with renowned manufacturers such as Seagate, Western Digital, and SK Hynix [2]. Group 5: Financial Performance - Chaoying Electronics has shown consistent revenue growth, with projected revenues of 3.514 billion yuan, 3.656 billion yuan, and 4.124 billion yuan for the years 2022, 2023, and 2024, respectively. The net profit attributable to shareholders is expected to be 141 million yuan, 266 million yuan, and 276 million yuan for the same years [3].