The global PCB market is relatively fragmented, with the top 10 manufacturers in terms of global market share accounting for a total of 45.8% in 2023. Taiwan, China's Zhending and Xinxing ranked first and second respectively, showing their strong competitiveness in the PCB field; Among manufacturers in Chinese Mainland, Dongshan Precision and Shennan Circuit ranked 3rd and 8th respectively. Jingwang Electronics, Shanghai Electric Power Co., Ltd., Shenghong Technology, Xingsen Technology, Shengyi Technology, and others all hold a certain market share.

Shenghong Technology has accumulated deep expertise in high-end graphics card PCB technology in the field of AI servers, and its 5-level 20 layer HDI products have passed certification and achieved mass production; Shanghai Electric Power Co., Ltd. is a leading customer in the field of European and American computing power, with a significant increase in the proportion of shipments of high multilayer boards, HDI, and high-speed boards used for 400G/800G switches and AI servers.

Due to the relatively low threshold for mid to low end PCB manufacturing and the relatively dispersed downstream market, the concentration of China's PCB industry is low, and the process of domestic substitution in the field of high-performance PCB boards is accelerating.

当前AI引领全球新一轮科技变革，PCB作为服务器的关键基础设施有望搭乘产业链高速发展的东风，迎来广阔的市场空间。