Shengyi Electronics Plans 2.257 Billion Yuan High-Speed Interconnect PCB Project

Shengyi Electronics said its wholly owned subsidiary, Ji'an Shengyi Electronics, plans to invest about 2.257 billion yuan in a high-speed interconnect circuit board manufacturing project called "Chip-Smart Connectivity," aimed at AI servers and automotive electronics, according to Jiemian News. The company said the project will have a 36-month construction period, is expected to start on September 28, 2026, and will add 445,900 square meters of annual capacity when fully completed. Of the total investment, about 2.158 billion yuan is new spending, while the rest has already gone into plant construction. Shengyi Electronics said the project is intended to free up more capacity for 4-layer-and-above high-end HDI products. The company also said the project still needs government filing and approvals for environmental and energy assessments. Jiemian News said the expansion comes as Shengyi Electronics is already pushing ahead with other capacity projects, including its Dongguan AI computing HDI base, which started construction in the first half of the year. In the first half of 2026, Shengyi Electronics reported revenue of 5.784 billion yuan, up 53.46% year on year, and net profit attributable to shareholders of 1.111 billion yuan, up 109.36%. Gross margin rose to 34.31%. The company also faces funding pressure. As of June 30, it had 407 million yuan in cash, 3.725 billion yuan in accounts receivable, 2.29 billion yuan in inventory, 4.012 billion yuan in notes and accounts payable, and 2.142 billion yuan in short-term borrowings. Its debt-to-asset ratio rose to 53.76% from 45% a year earlier. Shengyi Electronics said the project could be delayed, changed, suspended or terminated if financing falls short or if market demand, product prices or business rollout deviate materially from expectations.