The PCB industry is undergoing a major expansion, ushering in growth opportunities.

2026/03/06

United Daily News
February 21, 2026
Author: Economic Daily News, Reporter: Chen-yi Lin / Comprehensive Report

In recent years, the explosive growth of AI applications has driven demand for high-end printed circuit boards (PCBs), propelling the industry into a period of high prosperity. Analysts believe that the continued rise in computing power demand under the AI technology wave will rapidly expand the PCB market related to AI servers and high-performance computing. As a leading global PCB manufacturing base, mainland China will see significant growth in the performance of its related industrial chain.

Emerging fields such as AI servers and intelligent driving are placing higher demands on the number of PCB layers, precision, and reliability. Demand for high-density interconnect (HDI) boards and high-multilayer boards is surging, prompting global PCB companies to increase capital investment and expand high-end PCB production capacity to seize growth opportunities.

Consulting firm Prismark predicts that the global PCB market will grow by approximately 5.8% in 2024 and 6.8% in 2025, with continued growth expected in the coming years, reaching approximately US$94.66 billion by 2029, representing a CAGR of approximately 5.2%. Prismark also forecasts that the CAGR for AI server-related HDI (High-Intensity Distributed Integrated Circuit) will reach 16.3% from 2023 to 2028, making it the fastest-growing category in the AI server-related PCB market.

Of the nearly 50 A-share listed companies in the PCB sector, six have already released their 2025 earnings forecasts. Among them, Jinan Guoji, Shenghong Technology, Xinge Microelectronics, Guanghe Technology, and Benchuan Smart Technology all expect net profit growth compared to the previous year, while Huazheng New Material expects to turn a profit.

Jinan Guoji expects its net profit last year to be between RMB 280 million and RMB 360 million, representing a year-on-year increase of 655.5% to 871.4%. The main reason for the revenue growth was the improved market conditions for copper-clad laminates (CCLs). The company's CCL production and sales volume increased compared to the previous year, and sales prices rebounded. Simultaneously, the company further focused on its core business, optimized its product structure, and improved profitability, resulting in a significant year-on-year increase in revenue.

Shenghong Technology expects its net profit for 2025 to be between RMB 4.16 billion and RMB 4.56 billion, representing a year-on-year increase of 260.3% to 295%, setting a new record since its listing. The company stated that in key areas such as AI computing power, data centers, and high-performance computing, several high-end products have achieved large-scale mass production, driving the product structure towards higher value and higher technical complexity. The proportion of high-end products has significantly increased, boosting the company's revenue growth.

Shenghong Technology is a core supplier of high-end AI PCBs for NVIDIA, primarily supplying high-density interconnect (HDI) boards required for AI servers and computing cards. Leveraging its leading technological strength (such as 5-layer/6-layer HDI), Shenghong Technology holds an important position in NVIDIA's supply chain. Chairman Chen Tao was even invited to attend NVIDIA's "Million Dollar Banquet."

Image Source: Reuters

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