PCB stands for Printed Circuit Board. As of November 2025, there are several core leading stocks in this concept, covering various subfields such as comprehensive, AI servers, and automotive electronics. Key leading stock information is as follows:
1. Pengding Holdings: A global leader in comprehensive PCBs, primarily engaged in communication boards, consumer electronics, and computer boards. It is also a core supplier in Apple’s supply chain, with communication board revenue reaching 24.236 billion yuan in the fourth quarter of 2024, accounting for nearly 69%.
2. Shenghong Technology: A leader in high-end PCBs and AI GPU support, it is a PCB supplier for mainstream AI GPUs such as NVIDIA’s H100 and B200, holding over 50% of the global supply for NVIDIA’s AI server PCBs. Its net profit in the first three quarters of 2025 increased by 317.75% year-on-year.
3. Huadian Co., Ltd.: A leader in AI server and automotive electronics PCBs, mastering 6-layer HDI technology, with a global market share of 35% in 800G optical modules. It has deep cooperation with NVIDIA, Huawei, and is also a supplier for Tesla and Volkswagen.
4. Shennan Circuit: A domestic leader in PCBs and packaging substrates, covering printed circuit boards and packaging substrates. In the second quarter of 2025, revenue reached 5.671 billion yuan, a year-on-year increase of 30.06%, with high-end backplane sample layers reaching 120 layers, showcasing outstanding technical strength.
5. Jingwang Electronics: A leader in full-category and automotive electronics PCBs, covering rigid boards, flexible boards, and other processes. It ranks among the top three globally in the automotive electronics field, with core customers including Tesla and Bosch, and has already shipped 800G optical module-related PCBs in bulk.
6. Shengyi Technology: A leader in upstream copper-clad laminates for PCBs, strategically positioning itself in high-end PCBs through its holding of Shengyi Electronics. Its ultra-low loss copper-clad laminate products have been certified by overseas end customers, widely believed to include NVIDIA, with a year-on-year revenue increase of 39.80% in the first three quarters of 2025.
Reviewing this structural bull market, these stocks have seen significant increases. Not selecting or paying attention to these stocks reflects a lack of knowledge or accumulation. NVIDIA’s series has been rising for several months, and if one has not profited from these stocks, continuous learning is necessary. Only through ongoing learning can one pay attention to stocks with unusual movements, and when there are catalysts and trends, a reflexive response can be formed.
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