Shennan Circuits SCC VS kinwong China's largest PCB manufacturer
Issuing time:2023-04-09 23:27
(1) Product type: About 70% of Shennan Circuits SCC's customer base is communication, and Huawei is the largest customer with over 20%; Kinwong's customer base is concentrated in consumer electronics, communication, and automotive electronics, accounting for about 20%, which is relatively scattered and comprehensive
(2) Product technology content: Shennan Circuits SCC is relatively high in the middle end, while Kinwong is relatively low in the middle end. There are over 250 invention patents for Shennan Circuits SCC, while Kinwong has 96 invention patents. Especially, Shennan Circuits SCC represents the highest level of technology among Chinese PCB enterprises.
The high-end market share in the industry product structure is gradually expanding, such as high-end products such as HDI PCB, high-density interconnected multi-layer circuit boards, and IC Carrier PCBs, while the demand share for double-sided and multi-layer circuit boards in the middle and low end is gradually decreasing.
(3) Background of shareholders. Shennan Circuits SCC has a state-owned background, and the shareholder structure shows that Shennan Circuits SCC is highly favored, and Kinwong is a private enterprise in China.
(4) Industry chain: Shennan Circuits SCC has a more comprehensive layout, with 74% of its business focused on PCBs and other electronic assembly and packaging substrates, providing customers with more comprehensive services. The Kinwong industry is concentrated in PCB layout.
Overall, Kinwong did not capture the forefront of communication infrastructure in the downstream of its products, which is related to the company's previous layout. There is indeed a gap between the high-end technology of the second product and Shennan Circuits SCC. Standing at the moment, Kinwong's production capacity layout is shifting from low-end to high-end, mainly focusing on FPC for 5G mobile phones in communication terminals, PCBs for automotive electronic security systems, and 5G base station equipment. Overall, there are multiple points of flowering and strong risk resistance.