Shulou(Shulou.com)11/24 Report--

CTOnews.com December 6 news, according to CINNO Research statistics show that in the third quarter of 2022, the global Top10 PCB enterprise PCB (printed circuit board) product revenue scale is about 7.77 billion US dollars, an increase of about 6.9% year-on-year, an increase of about 14% month-on-month. Among the Top10 PCB enterprises in the world, there are 5 enterprises in Taiwan, which still occupy half of the country; 2 enterprises in the mainland of China, 2 enterprises in Japan and 1 enterprise in the United States. Among them, the selected the mainland of China PCB enterprises are Dongshan Precision and Shennan Circuit, ranking third and tenth respectively. Overall, the revenue of PCB products of Top10 PCB enterprises in the world increased to different degrees year-on-year in the third quarter of 2022.

CTOnews.com learned that the report pointed out that due to the continued tightening of monetary policy by the Federal Reserve, the decline in global commodity prices and copper prices led to a decline in the cost of raw materials upstream of PCB, and the gross profit of enterprises continued to improve. According to statistical data, in the third quarter of 2022, the gross profit scale of PCB products of Top10 PCB enterprises in the world was about USD 2.06 billion, with a year-on-year growth of about 29.7% and a month-on-month growth of about 23.2%, both higher than the year-on-year and month-on-month growth rates of revenue. The overall gross profit margin reached 26.6%, an increase of about 4.7 percentage points year-on-year and an increase of about 2 percentage points month-on-month.

In the third quarter of 2022, the revenue of Zhending Technology in Taiwan increased by about 44.8% month-on-month in local currency, with a year-on-year growth of about 20.1%. It won the title of Top 10 ranking, setting a new high in the same period of the previous year. It is still the enterprise with the largest revenue scale of PCB products in the world. Benefiting from this, the revenue gap between Zhending Technology and Xinxing Electronics, the second place, widened compared with the first half of the year, and the top position was consolidated. Benefiting from the continuous advancement of the product portfolio and the effectiveness of the One ZDT strategy, the revenue of each application product downstream of Zhending Technology has increased to varying degrees.

Xinxing Electronics still has the fastest year-on-year growth in PCB product revenue in this Top10 list. In the third quarter of 2022, its revenue increased by about 33.1% year-on-year in local currency and 5.1% month-on-month, ranking second in the Top10 list. Benefiting from the substantial increase in IC board demand, Xinxing Electronics 'IC board shipments in the first three quarters of 2022 increased significantly by about 74% year-on-year in local currency. At the same time, Xinxing Electronics is the only PCB enterprise with a gross profit of more than 1 billion US dollars in the world.

South Asia Circuit is still the enterprise with the highest gross profit margin of PCB products in this Top10 list. In the third quarter of 2022, its revenue increased by about 21.8% year-on-year in local currency and 13.2% month-on-month. It is also the only enterprise with PCB product gross profit margin exceeding 40% in this Top10 list.

Since the beginning of this year, due to the rapid depreciation of the yen, Japanese corporate revenues have increased by varying degrees. In the third quarter of 2022, revenue from Japan's Qisheng PCB products increased by approximately 17.3% year-on-year and approximately 28.1% month-on-month; revenue from Yifei PCB products increased by approximately 16.6% year-on-year and approximately 20% month-on-month.

Although the depreciation of the yen has led to an increase in the price of raw materials denominated in yen, the continued decline in copper prices has eased the cost pressure on Japanese PCB manufacturers to some extent. In the third quarter of 2022, the gross profit of Japan's Qisheng PCB products increased by approximately 6.7% year-on-year and approximately 49.7% quarter-on-quarter; the gross profit of Ifiden PCB products increased by approximately 24.8% year-on-year and approximately 22.3% quarter-on-quarter.

Since the beginning of this year, due to last year's high base and the impact of the epidemic on the economy, shipments of consumer electronics such as mobile phones and IT have declined compared with last year, which has also led to weaker demand for corresponding PCB products. However, the downstream application demand dominated by automotive electronics is still strong driven by the continuous promotion of automobile intelligence and the substantial growth of production and sales of new energy vehicles. It is expected that the revenue end of PCB enterprises will maintain a certain growth in the future. In addition, as the Fed's monetary tightening policy draws to a close, the downward trend in global commodity prices and copper prices is expected to reverse, and it is expected that there will be limited room for continued improvement in the cost side of PCB companies in the future.

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