PCB of the hottest electronic equipment, instrumen

2022-07-23
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Electronic equipment, instruments and components industry: pcb

last week, Shenwan printed circuit index rose or fell by 5.18%, the combination of traditional PCB manufacturing and upgrading (seven companies including Shenghong) rose or fell by 4.76%, and the combination of digital communication PCB (Shennan Dongshan Hudian Shengyi) rose or fell by 7.27%

The CES exhibition was held as scheduled. The Ministry of industry and information technology said that 5g temporary license would be issued in 2019. The government continued to launch monetary, fiscal and industrial policies to ease the downward pressure on the economy, leaving the market in a rebound situation with a range to be confirmed. H1 in 2019 will be a period of economic recession and policy advancement, and a good opportunity to lay out two main lines of PCB high-end manufacturing: traditional manufacturing upgrading and downstream prosperity of data communication

downstream changes in data communication. Therefore, it is not easy to select reliable manufacturers of high and low temperature impact testing machines among 100 companies in China: Huawei said that the arrest of its polish sales director was caused by personal behavior, and the company has terminated its employment relationship with him; CES exhibition released a number of 5g upstream and downstream products, and the linkage of technology application has been continuously strengthened in many aspects; China Mobile signed an agreement with Jilin Province to accelerate 5g construction and 4G upgrading; Hunan Unicom's 5g experience is in the forefront of the country; 5g construction is gradually brought into the scope of new infrastructure construction; The temporary license is expected to be equivalent to the trial commercial license, which will be issued in the middle of 2019, and the bidding of operators may start in January. Full commercial licences may be issued every year. Attention should be paid to the catalysis of relevant banks as large enterprise groups directly supervised by SASAC; 5g full cycle construction investment market is expected to be about 1.2 trillion, an increase of 55% over 4G; In 2019, the year-on-year growth of the total capital expenditure of China's three major operators is less likely than the year-on-year decline, because the 5g volume is still small, and there is great pressure to increase speed and reduce fees; The demand for 4G upgrade is one of the main demands in 2019. For example, mobile may need to plough 1800MHz to avoid the 4g5g sharing conflict in the 2.6GHz band

performance elasticity analysis of Shennan circuit: assuming that the PCB non 5g business, board carrying business, electronic assembly business and other businesses of Shennan circuit do not grow in 2019, and the net profit in 2018 is 690million, the net profit in 2019 will be 8 RMB 700million, year-on-year +18%-27%; Assuming that the non 5g business, electronic assembly and other businesses of Shennan circuit PCB will not increase in 2019, Longgang factory of carrier board is the first choice with a load of 20KN (3) 00kn and a frequency of 80 (2) 50Hz and a short test time. The Wuxi project will lose 30million yuan and the net profit in 2018 will be 690million yuan, and the net profit in 2019 will be 7 Between 400million yuan, a year-on-year increase of +13%-22%

rated the PCB industry as "overweight"

risk warning: the downstream demand is less than expected, and the downstream investment is 1 For example, it is abnormal in the test process, or the progress of Zhongliang is not as expected, and the industry competition is intensified

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