In the era of low-profit electronic products, the price war has changed the supply chain of PCB. The total output value of China's PCB industry reached 58.84 billion yuan, an increase of 8.6% year-on-year, and the average revenue compound growth rate reached 20%. Reached 27%, the following is the PCB industry investment analysis.

Due to the concentration of downstream industries and the relatively low cost of labor and land, China has become the region with the strongest development momentum. China surpassed the United States for the first time in 2017 and became the second largest PCB producer in the world. The proportion of output value also increased from 8.54% in 2000 to 15.30%, nearly doubled.

As of 2018, the newly planned investment in China's PCB industry reached 95.5 billion yuan, 72 new investment projects, and the average investment of each project reached 1.3 billion yuan. In the first to fourth quarters, the newly added planned investment amounts were 18.5 billion yuan, 25.4 billion yuan, 41.2 billion yuan, and 10.4 billion yuan, accounting for 19.3%, 26.6%, 43.2%, and 10.9%, respectively. PCB industry analysis pointed out that the new planned investment in each quarter is more than 10 billion yuan, of which 41.2 billion yuan in the third quarter is the peak period of new investment projects.

From the perspective of the distribution of new planned investment products, there are 63 new planned investment projects on the PCB board, and the new planned investment amount is 79.6 billion yuan, accounting for 83.4%. The investment analysis of the PCB industry pointed out that there are 6 newly-added planned investment projects for copper-clad laminates, with the newly-added planned investment amounting to 6.8 billion yuan accounting for 7.1%. PCB material mainly counts copper foil, fiberglass cloth and ink. There are 6 new planned investment projects, with the newly planned investment of 9.1 billion yuan accounting for 9.5%.

From the perspective of the distribution of revenue in the enterprise market, only 3 of the top 10 PCB revenue companies in China's mainland are domestic companies; among the top 20 revenue companies, only 6 are domestic companies. Among the top 10 and top 20 PCB companies by revenue, the number of domestic companies accounted for 30%. However, Dongshan Precision and Shennan Circuit have entered the top 5.

At present, there are about 1,500 PCB companies in China, forming a pattern in which Taiwan-funded, Hong Kong-funded, US-funded, Japanese-funded, and local domestic-funded companies compete together. Among them, foreign-funded enterprises generally have relatively large investment scales, and have certain advantages in production technology and product specialization. There are many domestic-funded enterprises, but there is still a certain gap between the scale and technical level of foreign-funded enterprises.

Among them, China's printed circuit industry is mainly distributed in the southeast coastal area, which is also related to the relatively large demand for water in the PCB industry. The water resources in these areas are relatively rich. The Yangtze River Delta and the Zhuhai Delta add up to reach the national total 90%, PCB industry investment analysis pointed out that the current ratio of the Yangtze River Delta to the Pearl River Delta is about 1: 1.

China's rigid boards (single panel, double panel, multilayer board, HDI board) accounted for 83.8%, of which the multilayer board with a proportion of 50% accounted for the largest proportion, followed by the soft board with a proportion of 15.6%. Due to the pressure of oversupply, most manufacturers entered a price war and the output growth was lower than expected. In the case of continuous expansion of HDI board production capacity, the output value of 2018 has grown significantly by as much as 40%, with a proportion of 13.6%. The previous mainstream single and double panels have been decreasing year by year.

In the next five years, driven by the domestic electronic information industry, China's printed circuit board market will continue to grow at a rate higher than the global growth rate. It is estimated that by 2022, the scale of China's PCB market will reach 35.69 billion US dollars. However, the Pearl River Delta is still China's most important and largest PCB industry R & D and production base, which has concentrated about 60% of the country's enterprises and PCB production capacity. The above is all the content of the PCB industry investment analysis.