Electric vehicle craze drives PCB boom, Jingpeng. Hannstar Bo surges more than 6%

2024/04/09

Inventories in the technology industry are gradually returning to normal levels. Low-orbit satellites, new energy vehicles, AI servers, etc. have driven a significant increase in the use of PCB printed circuit boards. The relevant supply chains are optimistic about operations next year. PCB Group's stock price also performed well today (4th). Jingpeng and Hannstar Bo both surged by more than half the limit, while Yaohua and Jianding strengthened and rose by more than 2%.

Soaring straight into the sky, the concept of low-orbit satellites has spread across major parts and components industries, and electric vehicles have driven the demand for automobiles. PCB (Printed Circuit Board), known as the mother of electronic products, has gradually recovered with the supply chain of the automotive industry. Normally, consumer electronics inventories have dropped to healthy levels and other positive factors, and the PCB industry is recovering strongly.

Lin Weizhi, executive vice president of Zhipu Industrial Trend Research Institute: "The destocking of automotive electronic components has probably come to an end. This year, the overall number of new energy vehicles in the auto market can reach about 14 million units. Next year, we expect it to continue to rise, especially for Electric vehicles use about twice as much PCB as traditional vehicles. It is expected that the AI server will continue to grow, and of course PCB will continue to benefit."

On the subject of AI server shipments, PCB is expected to increase in both price and volume with the introduction of GPU and ASIC accelerators. PCB manufacturers are also actively focusing on automotive and network communications, and developing into high-end markets, making the PCB group the focus of the market. Jingpeng, Hannstar Bo both rose by more than half the limit on Monday. Yaohua and Jianding strengthened and rose by more than 2%. Huatong also rose by more than 1%. The output value of electronic product PCB boards increased, and they are optimistic about operations next year.

Jingpeng spokesperson Xiao Gongyan: "As far as the PCB industry is concerned, the inventory accumulated during the COVID period seems to have been almost digested. Next year, the automotive supply chain may return to a more normal situation. In fact, if the automotive industry is Going back to a positive situation, it is expected that our capacity utilization rate will have the opportunity to increase again, which will be helpful to profits and revenue."

Regarding the dynamics of the automotive market, PCB industry players said that the supply of components has been smooth. The biggest risk currently lies in the assembly capacity of automotive electronics factories. It is expected that assembly volume will catch up with demand next year, and subsequent changes remain to be seen. (Reporters Cao Zailing and Chen Baicheng/Taipei interview report)

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