CEET(SZ:002579)2022-11-21 15:52Company Overview - The company, Huizhou Zhongjing Electronics Technology Co., Ltd., has introduced its basic situation, including company profile, development history, manufacturing bases, main business products, major clients, financial performance, and future development plans [1]. Production Capacity and Development - The Zhuhai Fushan factory began production in July 2021, with an investment exceeding 2 billion CNY, focusing on high-layer boards (HLC), advanced HDI boards, IC substrates, and flexible circuit boards (FPC) [1]. - The factory is currently in a critical ramp-up phase, primarily handling orders for 4-8 layer multilayer boards and 2nd generation HDI products, achieving an area utilization rate of approximately 80% [2]. - The company aims to enhance product tier upgrades and customer introduction to achieve profitability and efficiency improvements [2]. MiniLED Product Progress - The company has a strong competitive advantage in PCB products for new display markets, with annual sales of approximately 200 million CNY for MiniLED products [2]. - The company plans to further invest in technology upgrades in the first half of 2022 to increase market share in the MiniLED segment [2]. Electronic Cigarette Market - The company has been involved in the electronic cigarette sector, with annual sales of around 100 million CNY, primarily driven by export demand [2]. - The domestic market for electronic cigarettes is expected to grow significantly as regulations are implemented, providing long-term market potential [2]. New Energy Vehicle Applications - Since 2019, the company has increased investments in the new energy vehicle sector, achieving rapid development in rigid and flexible circuit boards for battery management systems (BMS) [3]. - The company has developed relationships with quality clients such as BYD and SAIC, anticipating significant revenue growth in this area [3]. Material Supply and Price Fluctuations - Prices for upstream materials like copper-clad laminate (CCL) have risen this year, impacting profitability; however, the company has implemented measures to manage these price risks [3]. - Recent market feedback indicates a price correction for key materials, with expectations for stabilization in 2022 [3].