Wus Printed Circuit (Kunshan) Co., Ltd. produces and sells various printed circuit boards in China and provides related after-sales services. Its products include backplanes, line cards, server products, antennas, high density interconnect, hybrid products, heat sinks, and heavy copper. These are used in automotive, power supply, computer, wireless telecommunications infrastructure, wired core network, semiconductor, and industrial applications. The company was incorporated in 1992 and is based in Kunshan, China.
Shengyi Electronics Plans to Invest 2.257 Billion Yuan to Expand High-End HDI Capacity
Shengyi Electronics announced on the evening of August 28 that it plans to have its wholly owned subsidiary Ji'an Shengyi Electronics invest in the construction of a high-speed interconnect circuit board manufacturing project called Core Computing Intelligent Connectivity. The total investment is approximately 2.257 billion yuan, of which new investment is about 2.158 billion yuan. The products are positioned as HDI printed circuit boards for AI servers, automotive electronics, and other fields, with a designed capacity of 445,900 square meters per year. In the first half of the year, the company's revenue was 5.784 billion yuan, up 53.46 percent year on year, and net profit attributable to the parent company was 1.111 billion yuan, up 109.36 percent year on year. Gross margin rose to 34.31 percent, a new high since listing. As of the close on August 28, Shengyi Electronics traded at 131.2 yuan per share, with a total market value of about 109.9 billion yuan, and had risen nearly 40 percent during the year. The company noted that project funding will come from its own and self-raised funds, while cash and cash equivalents at the end of the period were only 407 million yuan, and the asset-liability ratio rose to 53.76 percent, creating funding pressure. In the industry, according to CPCA statistics, in the first half of 2026 there were 76 new investment projects in China's PCB industry, with a total investment of about 169.1 billion yuan. Leading manufacturers such as Victory Giant Technology, Avary Holding, and Wus Printed Circuit have all expanded capacity significantly, but the new capacity is expected to be released mainly from the second half of 2026 to 2028, posing a risk of oversupply.
Artificial Intelligence › AI Server OEM & System Integration Supply
688183.CG · Capital · Positive Shengyi Electronics plans a 2.257 billion yuan investment to expand high-end HDI capacity for AI servers and automotive electronics.
002463.CS · Competition · Negative Named as a leading PCB manufacturer whose significant capacity expansion contributes to the industry oversupply risk.
002938.CS · Competition · Negative Named as a leading PCB manufacturer whose significant capacity expansion contributes to the industry oversupply risk.
300476.CS · Competition · Negative Named as a leading PCB manufacturer whose significant capacity expansion contributes to the industry oversupply risk.
Wus Printed Circuit's 2026 interim report shows net profit of 2.923 billion yuan
Wus Printed Circuit released its 2026 interim report. Total operating revenue was 13.689 billion yuan, and net profit attributable to the parent company was 2.923 billion yuan. Net cash inflow from operating activities was 1.151 billion yuan, a decrease of 947 million yuan, or 45.14 percent, compared with the same period last year. The company's latest asset-liability ratio was 52.20 percent, gross margin was 38.72 percent, return on equity was 16.25 percent, and diluted earnings per share was 1.52 yuan. The number of shareholders was 367,100, and the top ten shareholders held 43.93 percent of the total share capital.
Multiple listed companies released positive news on the evening of August 25
On the evening of August 25, multiple listed companies on the Shanghai and Shenzhen stock exchanges released important announcements. Wanhua Chemical's subsidiary, BorsodChem in Hungary, has completed the shutdown maintenance of its integrated MDI and TDI facilities and resumed normal production. CICC has been approved to publicly issue corporate bonds to professional investors with a total face value not exceeding 80 billion yuan. Wus Printed Circuit reported first-half net profit of 2.923 billion yuan, up 73.72 percent year on year. Ouke Precision Cutting Tools reported first-half net profit of 371 million yuan, up 47,734.24 percent year on year. Hangzhou Cable reported first-half net profit of 393 million yuan, up 938.67 percent year on year. Yahua Group reported first-half net profit of 1.216 billion yuan, up 795.48 percent year on year. Qinghai Salt Lake Industry reported first-half net profit of 6.169 billion yuan, up 137.88 percent year on year. Sinomine Resource Group's lithium sulfate project in Zimbabwe with an annual capacity of 100,000 tonnes is expected to be completed and put into production by mid-2027. Beimo High-tech Friction Materials plans to repurchase shares for 120 million to 180 million yuan for employee stock ownership plans or equity incentives.
Wus Printed Circuit and Jiangxi Copper first-half net profits rise 73.72% and 106.77% respectively
Wus Printed Circuit, Jiangxi Copper and several other companies released their 2026 semi-annual reports. Wus Printed Circuit's first-half net profit rose 73.72% year on year, while Jiangxi Copper's net profit rose 106.77%. Huashengchang's first-half net profit grew 73%, with second-quarter net profit up 223% quarter on quarter. JPT's 2026 semi-annual net profit rose 105.25% year on year. Naura Technology's first-half net profit rose 5.05% year on year. In addition, Zhong Shanshan, the actual controller of Wantai Biological Pharmacy, donated 33 million company shares free of charge to the Fujian Xiang'an Innovation Laboratory Science and Technology Development Foundation, accounting for 2.61% of the company's total share capital.
Goldman Sachs sharply raises AI server PCB and CCL market size forecasts
Goldman Sachs has sharply raised its market size forecasts for artificial intelligence server-related printed circuit boards and copper clad laminates in its latest industry report. The bank now expects the global AI server PCB market to reach 37.5 billion dollars in 2027, up 38 percent from its previous forecast, and to further grow to 84 billion dollars in 2028. The CCL market is projected to hit 22.1 billion dollars in 2027, an 18 percent increase, and could rise to 48 billion dollars in 2028. This implies compound annual growth rates of 148 percent and 161 percent for the AI server PCB and CCL markets respectively from 2026 to 2028. Goldman Sachs noted that this growth is driven not only by higher server shipments, but also by factors such as increased PCB layer counts, greater penetration of high-end HDI, upgrades in CCL materials, and higher PCB usage within server racks. Following the news, PCB-related stocks in China's A-share market saw renewed activity, with Baoding Technology hitting the daily limit for the fifth time in six sessions, Jingwang Electronics locking in its second consecutive daily limit, and Yihao New Materials, Shenghong Technology, Shengyi Technology, and Wus Printed Circuit also advancing.
Shenzhen Electronics Sector First-Half Earnings Previews Shine, Driven by AI Computing Power and Semiconductor Localization
The Shenzhen electronics sector's first-half 2026 earnings previews are full of highlights, with 56 companies projecting median attributable net profit growth exceeding 50%, and 37 of them exceeding 100%. The semiconductor industry performed especially well, with 15 companies projecting median attributable net profit growth over 50%, and 13 over 100%. TCL Technology expects attributable net profit of 3.7 billion to 3.92 billion yuan, up 96% to 108% year-on-year, with subsidiary TCL CSOT net profit exceeding 3.8 billion yuan. Tongfu Microelectronics expects attributable net profit of 1.6 billion to 1.8 billion yuan, up 288.26% to 336.80%, benefiting from AI computing power buildout and accelerated localization. Wus Printed Circuit expects attributable net profit of 2.83 billion to 3 billion yuan, up 68.17% to 78.28%, with its Thailand subsidiary turning profitable in the second quarter on a single-quarter basis. Changchuan Technology expects attributable net profit of 900 million to 1 billion yuan, up 139.38% to 167.38%, with sales of product lines such as digital testers growing significantly. Konfoong Materials International expects attributable net profit of 480 million to 560 million yuan, up 89.99% to 121.65%, with revenue from semiconductor precision components continuing to grow. Dapu Microelectronics expects operating revenue to increase by 474.73% to 541.56% year-on-year, with attributable net profit of 1.2 billion to 1.35 billion yuan, swinging from a loss to a substantial profit, and its 122-terabyte capacity QLC SSD has achieved commercial deployment.
000100.CS · Capital · Positive TCL Technology expects attributable net profit up 96%-108% YoY, driven by subsidiary TCL CSOT.
002156.CS · Demand · Positive Tongfu Microelectronics expects net profit up 288%-337%, benefiting from AI computing power buildout and accelerated localization.
002463.CS · Capital · Positive WUS Printed Circuit expects net profit up 68%-78%, with Thailand subsidiary turning profitable.
300604.CS · Demand · Positive Changchuan Technology expects net profit up 139%-167%, with sales of digital testers growing significantly.
300666.CS · Demand · Positive Konfoong Materials International expects net profit up 90%-122%, with revenue from semiconductor precision components continuing to grow.
DapuStor · Capital · Positive DapuStor expects revenue growth of 474-542% and net profit of 1.2-1.35 billion yuan, swinging from loss to substantial profit.
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