Shennan Circuits has focused more on automotive PCBs and IC substrates following shrinkages in shipments for 5G infrastructure applications in 2020, according to the China-based PCB vendor.
The company has reported its 2020 revenues still rose 10.23% on year to CNY11.6 billion (US$1.783 billion), but the growth was sharply down from high double-digit increases seen in earlier years.
Shennan said a slowdown in the construction of 5G base stations in China dragged down its PCB shipments for the segment, but its domestic market share in the sector remained little affected.
Shennan stressed that its PCB shipments for datacenter servers, automotive electronics, and medical equipment as well as sales of IC substrates all expanded significantly in 2020 and are expected to grow further in 2021.
Its market share in the server PCB segment has risen notably over the past year, and orders for automotive boards have shot up over 80% in terms of volumes as it has enlisted numerous international automotive clients, the company said.
Shennan continued that it is building a new plant in Nantong, China, which will be dedicated to production of automotive PCB products.
Shennan now also leads the development of IC substrates in China, able to supply substrates needed to process MEMS for acoustic applications, industry sources said, adding that it is also enhancing the development of substrates for processing fingerprint ID chips and RF module ICs, as well as FCCSP substrates for handset chips.
Its overall IC substrate sales still lag far behind shipments from major peers in Taiwan, Japan and Korea, but Shennan is expected to sustain its expansion momentum amid the persistently hot demand for diverse chips worldwide after seeing IC substrate shipments growing over 30% in 2020, noted the sources.
