1. New energy vehicles and autonomous driving will enhance the value of PCB

In recent years, the trend of automobile electrification and electronicalization is more and more obvious. As the backbone of electronic products, PCB manufacturing is increasingly important in automobile supply chain. Compared with traditional fuel vehicles, new energy vehicles add charging, energy storage, power distribution and voltage conversion equipment, which will bring a lot of new application scenarios to PCB.

According to the calculation, in the field of powertrain and transmission alone, the value of PCB on electric vehicle is as high as 800 yuan, which is 20 times of the value of PCB in the field of traditional vehicle.

New energy vehicles contain a large number of high-voltage, high-power devices, such as IGBT, MOSFET and so on have higher requirements for heat dissipation, making the layout of PCB can not be too dense, further increasing the amount of new energy vehicles PCB. For each new energy vehicle, the total PCB board required by the above mentioned equipment is about 0.8 square meters.

According to the calculation, the consumption of PCB for a single new-energy vehicle equipped with millimeter-wave radar and large central control screen will reach 1.24 square meters, and the value will be 1,281 yuan, 3.6 times that of the traditional fuel vehicle without the above equipment. Driven by new energy vehicles, automotive PCB market will usher in long-term stable growth.

2. Easton electronics 2018 revenue: 3.33 billion yuan, profit: 650 million yuan

In its annual report for 2018, released on April 24, aton electronics reported that its total operating revenue for 2018 was 3.33 billion yuan, up 1.3 percent year-on-year. The net profit attributable to shareholders of the listed company was 650 million yuan, up 18.3% year on year. Earnings per share was 0.66 yuan.

From the perspective of business structure, “four layers” and “double panels” are the main sources of business income. Specifically, the “four-tier board” has an operating income of 1.66 billion yuan, accounting for 49.8 percent of the total revenue. The “” dual panel” “business generated $960 million in revenue, accounting for 28.9 percent of revenue. The “six-tier board” had an operating income of 570 million yuan, accounting for 17.1 percent of the total revenue.

From the perspective of profit contribution, the comprehensive gross margin of enterprises was 30.5%, down 2.8 percentage points year on year. Among them, “four-layer board”, “double-layer board” and “six-layer board” contributed 49.3%, 32% and 14.6% of the gross profit respectively, and “four-layer board” contributed more gross profit. The gross profit margin of “four-layer board”, “two-layer board” and “six-layer board” is 30.2%, 33.9% and 26.1% respectively.