On March 17th, it was reported that Shenzhen Southern Circuit, a leader in the PCB industry, recently released its 2024 annual report. During the reporting period, Shennan Circuit achieved a total operating revenue of 17.907 billion yuan, a year-on-year increase of 32.39%. The net profit attributable to shareholders was 1.878 billion yuan, a year-on-year increase of 34.29%. The net profit after deducting non shareholders was 1.74 billion yuan, a year-on-year increase of 74.34%.

Among them, the PCB business achieved a main business revenue of 10.494 billion yuan, a year-on-year increase of 29.99%, accounting for 58.60% of the company's total operating revenue; The gross profit margin was 31.62%, an increase of 5.07 percentage points year-on-year.

During an institutional survey, Shennan Circuit pointed out that the growth contribution of PCB business revenue is mainly concentrated in the demand growth of high-speed switches and optical module products with 400G and above in the communication field; The demand for servers and related supporting products in the data center field A is increasing, and the overall demand for servers is significantly recovering. The trend of electrification/intelligence in the automotive electronics field is promoting the continuous release of order demand.

Shennan Circuit stated that the data center business field will also become the second downstream market of the company's business to reach a scale of 2 billion yuan orders in 2024, after the communication field.

Previously, LightCounting, a market research firm in the optical communication industry, pointed out that under the drive of AI, there is strong demand for Ethernet optical modules, but the shortage of components in the supply chain has limited shipments, including PCB materials.