Shangda Electronics plans to increase 100 million yuan to expand production capacity and technology research and development
Shangda Electronics, a leading manufacturer of flexible circuit boards in China, has announced plans to raise up to 100 million yuan through a new round of fixed-income financing. The capital will be allocated toward expanding production capacity and investing in the research and development of cutting-edge technologies. Recently, the company has exited the New Third Board and is now preparing for an ambitious move to the main board, signaling its next stage of growth.
According to the company's officials, Shangda Electronics has experienced significant progress over the past two years, thanks to strategic financial support. Customer demand has been steadily increasing, and to meet this growing need, the company must continue expanding its production capabilities and broadening its customer base.
Currently, the firm is in a crucial phase of its strategic development, focusing on entering the mid-to-high-end market. Alongside increasing production capacity, it is accelerating investments in core technology R&D. Several key projects are reaching critical stages, and additional funding will help drive both qualitative and quantitative improvements in these initiatives.
Shangda Electronics made its debut on the New Third Board in February 2016, achieving impressive growth that year with a revenue of 836 million yuan. It has since become a major player in the flexible circuit board industry in China. The company expects performance to exceed 1 billion yuan in 2017, maintaining its leadership position.
Although the company has left the New Third Board, its capital operations are still progressing smoothly. Officials indicated that more significant capital actions are on the horizon. This latest funding round aims to sustain the company’s momentum at the capital level, supporting further expansion in production and technology R&D to enable a breakthrough this year.
Since the beginning of last year, Shangda Electronics has been actively expanding both its production capacity and R&D efforts. In terms of production, the first phase of the Optoelectronic New Material Industrial Park in Huangshi, Hubei — a 2.5 billion yuan investment — has been completed and is now operational. All production lines use intelligent equipment, with an annual output of over 800,000 square meters. Additionally, the company has started offline production for its middle- and high-end soft-hard board technology, with new capacity expected to come online this year.
The company also plans to expand its production capacity further this year, focusing on improving product yield to meet the demands of new customers.
In terms of R&D, Shangda Electronics continues to invest in the production processes of flexible circuit boards and soft-hard bonded boards. A notable project is the first domestic COF (Chip on Film) production line in Xuzhou, Jiangsu, which is set to go into operation this year. Once launched, this project will fill a critical gap in the industry, challenge the dominance of South Korean firms, and support the development of China’s mobile phone full-screen and OLED flexible display technologies.
Li Xiaohua, Chairman of Shangda Electronics, stated, “2018 will be a pivotal year for our strategic transformation. We aim to achieve significant leaps in both product quality and production capacity. Our next focus will be on the mid-to-high-end market and international markets. With government support for high-end manufacturing, we have made great progress. Through continuous capacity expansion and technological investment, we are committed to driving breakthroughs in our field and propelling the entire industrial chain forward.â€
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