#头条创作挑战赛#
The main business of Shennan Circuit is PCB (printed circuit board), which is known as the "mother of electronic products", and its main function is to connect various electronic components to form a predetermined circuit and play the role of relay transmission.
It not only provides electrical connection for electronic components, but also carries the business functions of digital and analog signal transmission, power supply and radio frequency and microwave signal transmission and reception of electronic equipment.
The three main businesses have synergistic effects, covering the industrial chain from level 1 to level 3 packaging
The industrial chain of 1-3 level packaging is: wafer - level 1 packaging - base board - level 2 packaging - circuit board - level 3 packaging (electronic assembly) - complete system
Semiconductor products from the upstream wafer, through packaging, to form a chip module, and then the module is soldered to the printed circuit board, and finally other components are soldered to the circuit board, which constitutes the electronic system
Shennan circuit is located in three links: packaging (IC packaging base plate), printed circuit board and electronic assembly
PCB printed circuits are the core business of Shennan; The packaging base plate, which is "technically homologous" with PCB, is developed to meet the current demand for high-density and high-integration printed circuit boards; Electronic assembly, on the other hand, is "the same source as the customer" with the PCB, which is located in the next process of the PCB industry
From 2015 to 2017, the operating income of Shennan Circuit was: 3.519 billion yuan, 4.599 billion yuan and 5.687 billion yuan; The net profit attributable to shareholders of the parent company was: 162 million yuan, 274 million yuan and 448 million yuan, and the net cash flow from operating activities was 573 million yuan, 802 million yuan and 896 million yuan; Gross profit margin of sales: 20.65%, 20.53%, 22.40%
Because of the large depreciation and amortization expense, the net profit is much lower than the cash flow generated by operating activities
EBITDA (earnings before depreciation and interest, taxes) in the past three years were: 424 million yuan, 658 million yuan and 876 million yuan
From 2015 to 2017, the growth rate of sales revenue of electronic assembly business was: 55.51%, 34.28% and 28.35%; The growth rate of sales revenue of packaging substrate business was: 21.30%, -2.89% and 60.43%
At present, the main business income still mainly comes from the PCB business, accounting for 72.74%, 75.41% and 71.44% of the overall revenue in the past three years
The upstream is a supplier of raw materials, and the main raw materials include copper clad laminates, pregs, copper foils, copper balls, gold salts, dry films and inks, among which the prices of copper clad laminates, copper foils, copper balls and gold salts are significantly affected by the prices of related metals
The main downstream applications are: enterprise customers (communication equipment, industrial control medical and aerospace, etc.), individual consumers (computers, mobile terminals and consumer electronics, etc.);
Major customers are: Huawei, General Motors, Nokia, Foxconn, Samsung, Honeywell, ASE and Changdian Technology
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