[News] Chinese Firms Double Down on High-End PCB, with Total Investment Exceeding RMB 2.7 Billion

Recently, Shenzhen MTC and Guangdong Ellington Electronics have successively advanced their presence in high-end printed circuit boards (PCBs). Focusing on key application segments such as Mini/Micro LED, optical communications, and AI servers, both companies are accelerating the expansion of their high-value-add PCB manufacturing capacity.

MTC Signs Agreement for Nanchang PCB R&D and Manufacturing Base

According to “Nanchang High-Tech Zone,” a signing ceremony for MTC’s PCB R&D and manufacturing base project was held on August 4.

To align with intelligent upgrade trends across the electronic information sector and to address growing demand for high-end PCBs in Mini/Micro LED displays, consumer electronics, and optical communications, Jiangxi VMTC —via its wholly owned subsidiary Jiangxi MTC Smart Display Circuit Co., Ltd.—plans to establish PCB R&D and Production Base project.

The project, with a planned investment of CNY 750 million, plans to build a smart PCB R&D and manufacturing facility dedicated primarily to specialized Mini/Micro LED circuit boards and optical module circuit boards. Through vertical supply chain integration, MTC aims to reinforce its self-reliance and controllable capabilities across next-generation displays and optical communications.

Upon completion, MTC will establish a monthly production capacity of 100,000 square meters for specialized Mini/Micro LED circuit boards and 100,000 square meters for optical module circuit boards, with commercial production slated to commence in the second half of next year.

Ellington Electronics Plans to Raise RMB 2 Billion to Boost High-End Smart PCB Manufacturing

On August 7, Ellington Electronics released its prospectus for a 2026 private placement of A-shares, seeking to raise up to CNY 2 billion in total gross proceeds. Out of the total funds raised, CNY 1.85 billion will be allocated to a high-end PCB smart manufacturing project, with the remaining CNY 150 million dedicated to supplementing working capital.

The total investment for the proposed project stands at approximately CNY 2.979 billion. Ellington Electronics plans to utilize its existing industrial park in Zhongshan to construct a high-end PCB smart manufacturing hub. The facility will focus on High-Layer Count (HLC) boards and high-density interconnect (HDI) boards.

Primary target applications include servers, high-speed switches, routers, AI accelerator cards, compute tray motherboards, and telecommunication equipment, alongside reserved production capability for optical module products. Once fully operational, the project will yield an annual capacity of 400,000 square meters of high-end PCBs—comprising 340,000 square meters of HLC boards and 60,000 square meters of high-tier HDI boards.

Upon completion, the facility will significantly enhance core manufacturing processes for high-end, high-speed PCBs, including multi-layer lamination, fine-line patterning, mechanical/laser drilling, wet processing, in-line inspection, and quality traceability. This expansion will further bolster Ellington Electronics’ supply capabilities for computing infrastructure, high-performance computing (HPC) hardware, and advanced communications equipment.

Aside from production expansion, Ellington Electronics also attempt to build out its broader PCB ecosystem through strategic investment.

On the same day, the company announced a partnership with Shanghai Yiyuan Aerospace Private Fund Management Co., Ltd. to co-establish the “Ellington Kuisu Printed Circuit Board Industrial Ecosystem Equity Investment Fund (Limited Partnership)”. The fund is sized at CNY 100 million, with Ellington Electronics committing CNY 99.9 million for a 99.9% stake.

The fund will invest across the PCB ecosystem, targeting critical upstream segments—such as key raw materials, core equipment, and specialized consumables—as well as high-end PCB technologies, including HDI boards, high-frequency/high-speed PCBs, rigid-flex PCBs, and IC substrates, driving supply chain synergies and capturing strategic investment opportunities.

(Photo credit: WUS)