I. Introduction to printed circuit boards (PCB)

1.1 What is PCB?

PCB (Printed Circuit Board) that printed circuit board, referred to as the printed circuit board, is the support body of electronic components, but also the carrier of the electrical interconnection of electronic components. As the PCB is made using electronic printing, it is called "printed" circuit board.

The main function of this product is to make various electronic components form a predetermined circuit connection and play a relay transmission role. Printed circuit board is the assembly of electronic parts with the key interconnections, not only for electronic components to provide electrical connections, but also 

carries the electronic equipment digital and analog signal transmission, power supply and RF microwave signal transmission and reception and other business 

functions, the vast majority of electronic equipment and products are required to be equipped, and is therefore known as the "mother of electronic products".

1.2 PCB upstream raw materials

The PCB industry chain is clear, and the upstream materials include copper foil, resin, glass fiber cloth, wood pulp, ink, copper balls, etc., of which copper foil, 

resin and glass fiber cloth are the three main materials.

1.3 PCB raw material cost analysis

The cost of PCB is mainly divided into material cost and labor manufacturing cost, where the material cost mainly includes copper laminate, copper foil, copper phosphorus ball, ink, etc. Among the cost of PCB, labor manufacturing cost accounts for the highest proportion, about 40% of the total cost; among the 

individual materials, the cost of copper laminate is the highest, accounting for 30% of the total cost; the cost of copper foil, copper phosphorus ball and ink is 

lower, accounting for 9%, 6% and 3% of the total cost respectively. 

Laminate in the PCB raw materials occupy an important position, its cost occupies 30% of the total cost of PCB. Laminate raw materials, the highest cost of 

copper foil, about 39% of the cost of the laminate; glass fiber cloth and resin costs are lower, respectively, accounting for 18% of the cost. As the copper 

laminate is affected by the copper price, so indirectly affect the price of PCB shows a certain periodicity.

1.4 The difference between different PCB

The thickness of rigid PCBs is different from that of flexible PCBs, and flexible PCBs can be bent. The common thickness of rigid PCBs are 0.2mm, 0.4mm, 0.6mm to 2.0mm. HDI is a high-density interconnected circuit board, HDI holes have blind or buried holes, the processing technology used is micro-blind buried holes and laser drilling, high processing accuracy and low cost. And ordinary circuit board drilling is mainly mechanical drilling, and only through-hole so that each 

layer of the line internal connection.

Second, the PCB board industry chain overview and upstream and downstream enterprises.

2、The whole view of PCB board industry chain and upstream and downstream enterprises

2.1 PCB industry chain panorama

PCB as the key electronic interconnections of electronic products, connecting many upstream and downstream industries. Upstream industries: copper foil, 

copper foil substrate, glass fiber cloth, resin and other raw materials industry; downstream industries: electronic consumer products, automotive, 

communications, aerospace, military and other industries. The PCB industry chain is long, with special wood pulp paper, electronic-grade glass fiber cloth, 

electrolytic copper foil, CCL (copper-clad laminate) and PCB (printed short-circuit plate) as the upstream and downstream products closely linked and 

interdependent in the industry chain.

2.2 PCB industry chain upstream of the main raw materials and suppliers

Among the upstream raw materials in the PCB industry chain, copper foil is the main raw material for manufacturing copper-clad boards, accounting for about 

30% of the total cost. The copper foil production industry is highly concentrated, and the industry leader has strong bargaining power. The leading companies are mainly engaged in the research and development of electrolytic copper foil and have established stable cooperation with large power battery companies

2.3 PCB industry chain midstream industry main enterprises and business overview

2021 midstream copper clad board enterprises on behalf of: Nanya New Material, Jinan Guoji, Shengyi Technology, Huazheng New Material; 2021 PCB 

representative enterprises: Shennan Electric Road, Jingwang Electronics, Shenghong Technology, Xingsen Technology, Hudian shares, Pengding Holdings, etc.

2.4 PCB downstream application scenario areas and major customers

PCB industry chain from top to bottom industry concentration in descending order. Downstream application needs can be divided into communication 

equipment, industrial control medical, aerospace, automotive electronics, computers and other sub-sectors.

3.The PCB industry downstream application areas

3.1 Global PCB board end-use applications and changes

PCB industry applications to date almost all electronic products, including communications, aerospace, industrial control medical, consumer electronics, 

automotive electronics and other industries.

3.2 PCB board end-use applications and changes

PCB industry application areas, communications, computers, consumer electronics industry has always been in the main field, since 2009, communications and 

industrial control medical field accounted for a continuous increase in the proportion of consumer electronics continue to reduce the proportion of the field.