China’s circuit-board makers push capex towards record to feed AI boom

In the first half of the year, more than 20 Chinese PCB companies – including Victory Giant Technology, WUS Printed Circuit, Shennan Circuits and Suzhou Dongshan Precision Manufacturing – disclosed aggressive capacity expansion plans.

With major players committing hundreds of millions of dollars per project, the cycle marks one of the most intense growth phases the sector has seen in recent years.

Driving the surge is a pivot towards the high-end boards required for AI servers.

Victory Giant, based in Huizhou in southern China’s Guangdong province, recorded a massive jump in its first-quarter spending, scaling up its capital expenditure to 3.6 billion yuan (US$530 million) from 730.1 million yuan a year earlier.

Rival WUS Printed Circuit, based in Kunshan in southeastern Jiangsu province, saw its first-quarter capital expenditure more than double to 1.5 billion yuan, up from 658.1 million yuan a year earlier.