Is about to draw to an end in 2011, printed circuit board industry is several several sorrow, joy in the smart phone, tablet computer selling and invincible trends, such as apple products successfully beaming, build on the industry and industrial heat with soft board performance and among them the most outstanding, both revenue and earnings record record, Any Layer HDI Any Layer of high density links substrate into industry bright spot, also bring phone board industry layout of a new opportunity to the blue ocean market, in addition, with the cloud industry booming, servers, base stations with PCB to buoyant demand, also for the future market continue bullish on product line.
In 2012, the European debt problem haze has not spread, the U.S. economic recovery is still to be seen, emerging countries economic growth is the focus of the PCB industry concerned about such as being able to stay strong, and from the point of view of science and technology industry, PCB industry is looking forward to intelligent mobile phone, tablet and Ultrabook (ultra thin and light laptops) three products bring growth momentum, demand for soft board, HDI will also sustainable warmer.
Back in 2011, the soft board industry thrive most bright eyes by the market, of which Taiwan county (6269) on apple, full-year revenue and profits will hit a record high, has won more PCB industry shares the king, even more than this year as excellent operating IC loading board kinsus (3189). In addition, HTC, apple customers such as jia lian yi this year's gross profit margin is climbing the peak of history and despite the growth in the fourth quarter Than expected by the customer revised down, but the company for the development of soft board industry for the long term remains bullish.
Soft board industry experienced a glut, itu competition, such as shock, but with the development of electronic products to frivolous appeal, for the demand of soft board to grow, a kind of intelligent mobile phone use at least 8 to 10 pieces of soft board, has increased several times more than past. In addition, including LED backlight, the touch panel application also drive the soft board needs. Looking ahead to 2012, the soft board industry in addition to have the power, the turn single effect after the Thailand floods last hair leaven, add by many factors, the growth of the soft board will still be better than the whole PCB industry, including Taiwan county, jia lian yi are expected to record.
As for hon hai group by ding (4958) for soft board outlook is also an optimistic, and points out that the current highest visibility, with soft board order expected product line of soft board is not but the most robust growth, also will be the first major product lines, will go to the level of 40%.
HDI high-density links substrate to high-order field this year, especially in the apple iPhone began to adopt Any Lay the trend of the HDI arbitrary Layer board, including HTC smart phone companies are starting to follow up, causing Any Lay HDI supply tight, cause HDI expansion wave, but keep in mind, the rules of low-priced smartphones will hopefully lead coquettish in 2012, under the cost consideration, Any Layer HDI whether also can continue to demand remains to be seen.
Especially after entering the fourth quarter, and HDI factory capacity utilization have signs of loosening, also worried that supply exceeds demand, the HDI manufacturers don't worry, think smart phone market will to differentiation, the demand of the high order HDI is still relatively optimistic, and the product high entry barriers, not into the bottom rob single cycle. Moreover, tablet and Ultrabook appeal to lightweight, low power consumption, etc., mostly using HDI design, do not underestimate the potential of the market.
Observed from other industries, PC/NB PCB industry relative to this year's hard work, originally wanted to grab market share of positive health ding (3044) also conservative, turned into the arms of HDI. In addition, ying (6251) for NB board operations are relatively negative attitude, hope can quickly raise the proportion of HDI. As for NB plate maker said han yu Boyd (5469) and as a fine family (6191) hands continued to expand the city, but the overall profit performance is still relatively inferior.
Pv business is bad to do, by panel industry weakness and panel makers loss deteriorated, bibcock of pv plant super in addition to adhere to the existing city share, also actively to develop other product line, and the m&a action this year is the most active, including buy avatar group zhongshan cheung fung factory and merger and acquisition yu ring (3267).
In addition, the automobile, the server/base stations use PCB is also relatively contrarian products this year, with chin-poon (2355), the proportion of car plate is close to 60%, has become the largest domestic car plate manufacturers, the more become the biggest beneficiary of Thailand floods, chin-poon Taiwan factory capacity utilization of full load current, warm next season's order.
Abundant communication first emerged this year, but share price performance was bright and high performance record more attention of the market, the company in the past deep market server/base stations and at international level a line of big clients, combined with the company in expanding production such as capital expenditures above relatively conservative, make its capacity utilization is a high level, profit hit, still don't see light for next year's industry trends.
Low order can also be in his early days, lock, double panel, 4 layer board for the main products of KY company (4927), clothing kam went back to Taiwan this year, its target customers are Japan, Europe and the United States well-known companies, has a stable source of order, in addition, fortunately, only factory has not been flooding in Thailand and enjoy more than simple interest, plus new plant capacity into next year, the company for the rest of the operating performance in deep faith.
