Microwave Tech - 5G high frequency PCB circuit board

The company is engaged in High Frequency PCB in the electronic industry, belonging to the manufacturing industry, the products are single, double-sided and multi-layer circuit board, circuit board assembly products, electronic equipment used wire and connectors, etc. Since its establishment, the company has been focusing on the production, sales and related after-sales service of all kinds of printed circuit boards. In the fierce market competition, the company has formed competitive advantages in technology, quality, cost, brand, scale and other aspects, ranking the leading position in the industry. Printed Circuit boards (PCB) are Printed boards used to assemble electronic components. Printed Circuit boards are designed to form point-to-point connections and Printed components on common substrates. You're all too familiar with this, electronics are everywhere.

The substrate of the printed circuit board itself is made of conductive copper foil on both sides and insulating material in the middle. The thin wire material visible on the surface is copper foil, which covers the whole substrate. In the manufacturing process, part of the copper foil is removed at the etching place, and the remaining part becomes a network of small wire. These wires, called conductors or cabling, are used to connect various electronic parts on printed circuit boards. Simple circuits, with a single circuit board can be, complex circuits, can use a double or multi-layer circuit board (more than four layers), and now there are flexible boards, which can be folded and bent. The company's upstream and downstream industrial chain, upstream for PCB raw materials, including electrolytic copper ingot, wood pulp, glass fiber yarn, synthetic resin, ink and etching solution.

High Frequency PCB are highly dependent on upstream raw materials, among which CCL has the strongest bargaining power.CCL is a product that combines glass fiber cloth and copper foil with epoxy resin as the fusion agent, and it is the direct raw material of PCB circuit boards. As long as the downstream demand is acceptable, the pressure of rising costs can be transferred to downstream PCB manufacturers. The downstream industry has a greater traction and driving effect on the development of the PCB circuit board industry, and its demand changes directly determine the future development of the PCB circuit board industry. Therefore, it is greatly affected by the cyclical fluctuations of the macro economy. From the growth path of Shanghai Electric Corporation, we can have a glimpse. The main products of the company are divided into two parts, namely enterprise communication board and automobile board, which account for 90% of the main business. Among them, enterprise communication board is the largest main business of the company, accounting for 66% of the total revenue (in 2018). Corporate communication boards and automotive boards have High requirements for PCB circuit boards. The production process precision, production equipment and CCL used have strict standards, requiring HDI (High Ddensity Interconnect) technology.

HDI technology provides a good assembly solution, which can transform the original assembly process from labor-intensive to automation. It not only improves the overall production technology level, reduces the product manufacturing cost, but also helps the product to improve the signal integrity, which is conducive to strict impedance control and improve the product performance. In the field of enterprise communication market, the company mainly involves the PCB research and development of wireless access network, bearer network and core network of the next generation communication, as well as the PCB research and development of high-performance calculator and high-speed switch in data center. In the field of wireless access, the company's pre-invested 5G base station products, such as Sub-6GHz antenna, 28/39G MMWAVE, AAU and other relevant key technologies, are well prepared and mature, and have achieved mass delivery. The revenue grew steadily and the net profit increased substantially. In addition, the gross profit rate of the company increased by 5.69%, and the weighted return on net assets increased from 5.95% to 15.34%. It was really not easy, as shown in the figure below:

Not only that, the first quarter of 2019 also achieved a bumper harvest, the revenue of 1.363 billion, a year-on-year growth of 16.61%, deduction of non-net profit of 149 million, a year-on-year growth of 155.76%, net profit significantly ahead of the growth of revenue.

The PCB industry as a whole is highly dispersed with numerous manufacturers. There are more than 2,800 PCB enterprises in the world, including nearly 1,000 PCB manufacturers in the Chinese mainland, most of which are distributed in the United States, Japan, South Korea, the Chinese mainland and Taiwan. Among them, China, Japan and other parts of Asia High Frequency PCB output value accounted for more than 80% of the total output value of global PCB.