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Data shows that on April 13, the PCB sector saw a net inflow of 2.38 billion yuan in main capital. Against the backdrop of intensifying competition in AI computing power, the PCB sector has recently strengthened noticeably. At this current juncture, the market is more concerned about whether this rally is merely a phased recovery driven by sentiment, or the starting point of a new round of growth following the continued strengthening of industrial logic. Please see the latest institutional analysis.   Regarding the latest catalysts, the current PCB market trend is driven by both supply and demand factors.   On one hand, demand for computing power has not cooled; instead, stronger validation signals have emerged recently.   As of the evening of April 12, concerning NVIDIA's (NVDA) next-generation Rubin platform, the latest supply chain information clearly indicates that the company has abandoned the previously expected pure M9 solution, opting instead for a "hybrid pressing" technical approach using both M8 and M8 materials. This involves using different grades of CCL material layered within the same PCB board based on signal transmission requirements. This adjustment in technical roadmap is not a downgrade but a pragmatic choice to balance performance and yield. It will accelerate the commercial demand for M9 core materials (such as Q-fabric), while creating a smoother path for incremental growth for CCL manufacturers that have a complete product matrix from M8 to M9.   On April 10, TSMC (TSM) reported a 35.1% year-on-year revenue increase for the first quarter of 2026, exceeding market expectations. Research reports generally attribute this to persistently strong AI demand. Simultaneously, Anthropic's annualized revenue is rapidly increasing, and it has signed next-generation TPU computing power agreements with Google (GOOG) and Broadcom (AVGO). Broadcom (AVGO) disclosed that it will provide 1GW of computing power for Anthropic in 2026, with projections exceeding 3.5GW in 2027. Multiple AI-PCB companies are experiencing strong orders, operating at full capacity with sold-out production, and are actively expanding. The industry is in a state of "rising prices and volumes."   Institutions generally believe that the market is no longer just trading on "increased demand" but on "upward value chain movement." With the continuous upgrading of AI servers, PCBs are consistently evolving from traditional multi-layer boards to high multi-layer and high-end HDI boards. In the long term, computing power will accelerate towards ASIC (Application-Specific Integrated Circuit) adoption. The value of PCBs for ASIC server motherboards per unit is significantly higher than that for same-generation GPU servers. Coupled with upgrades in high-end materials and processes like M7 and M8, the value increase for PCBs is not a short-term spike but a systemic elevation brought about by changes in hardware architecture. This means the core of this round of sector performance is not just increased shipment volumes, but also the simultaneous upward revision of per-unit value, technical barriers, and profit elasticity.   On the other hand, the tight supply-demand balance on the supply side and material upgrades are becoming another important logic supporting the sustainability of the market trend.   The latest supply chain tracking shows that the overall PCB industry maintained a high level of prosperity in the first quarter, with prices for mid-to-low-end raw materials and copper-clad laminates (CCL) rising successively. Furthermore, recent geopolitical conflicts have further pushed up raw material prices. While this increases short-term volatility, it also reinforces expectations of price increases for high-prosperity segments from another perspective. Currently, M7-grade and above materials are widely used in scenarios like AI servers and 5G base stations. Materials for the next-generation Rubin platform, M9, are expected to see volume growth, while testing clues for M10 have also emerged.   Institutions suggest that this implies the market is not simply trading an "electronics rebound," but rather an industrial upgrade characterized by the accelerated positioning of high-end materials, high-end processes, and high-end capacity. The slow pace of supply-side expansion, sluggish overseas CCL capacity expansion, and accelerated entry of domestic leaders suggest that the prosperity sustainability of the PCB sector may be stronger than the market previously expected.   Synthesizing views from multiple institutions, investors looking to seize investment opportunities in the current PCB sector can focus on the following two main themes:   First, leading PCB manufacturers with mass production capabilities for high-end HDI and high multi-layer boards, such as Victory Giant Technology (HK2476), Wus Printed Circuit (002463), Kinwong Electronic (603228), and Aoshikang Technology (002913). These companies are more directly benefiting from the surge in demand for AI servers and high-speed communications, as well as material upgrades.   Second, leading domestic suppliers of high-speed CCL. From an industry chain layout perspective, domestic leading companies such as Sheng Yi Technology (600183), Nanya New Material Technology (688519), and Huazheng New Material (603186) offer products covering M8 to M9/M10 grades. They have already secured their technological positions in advance and can fully meet the diverse material needs arising from hybrid pressing solutions.   -------------------------------------- Source: Securities Times Disclaimer: We respect originality and also value sharing; the copyright of text and images belongs to the original authors. The purpose of reprinting is to share more information, which does not represent the position of this account. If your rights are infringed, please contact us immediately for deletion. Thank you.

On April 3, Kingboard issued a notice stating that due to a sharp rise in chemical product prices and tight supply, the cost of copper-clad laminates (CCL) has increased dramatically. Effective immediately, Kingboard will uniformly increase the prices of its CCL sheets and PP (prepreg) by 10%.   We believe this price increase is primarily driven by rising resin costs resulting from geopolitical tensions in the Middle East. Affected by the situation in the Middle East, prices of chemical products such as epoxy resin, natural gas, and TBBA have surged amid tight supply. According to the Epoxy Review, taking East China as a benchmark, the ex-factory price (net of water) of liquid E-51 epoxy resin on April 3 closed at RMB 18,300–19,500 per ton, an increase of approximately 40% since the outbreak of the conflict.   Further price increases for FR-4 CCL are likely, with high industry concentration giving CCL manufacturers the upper hand. Expectations of tight supply for the three main raw materials—copper foil, resin, and fiberglass fabric—continue to strengthen. Copper prices are expected to remain high due to tight supply-demand balance. AI-grade specialty fabrics are taking up production capacity, and under supply constraints, the upward momentum for standard fabrics may persist. Earlier, fabric prices saw concentrated increases in early January, early February, early March, and late March.   The price increase of electronic-grade PPO is driven by rising costs, but more fundamentally by a supply-demand gap.   On the supply-demand front, total supply of electronic-grade PPO by the end of 2026 is expected to be around 6,000 tons. However, with the increase in shipments of M8-M9 grade CCL, industry demand is expected to rise to 7,000–8,000 tons, leading to a widening supply-demand gap by the end of the year. On the cost side, the average price of phenol, PPO's core raw material, rose 34.55% in March compared to February. PPO manufacturers have strong intentions to pass on cost increases.   Resin could be one of the decisive factors in pushing CCL to its limits.   On one hand, as copper foil and fiberglass fabric—two major raw materials—gradually approach their performance limits, resin, which relies on formulation rather than being a standalone component, becomes increasingly important for formulation optimization. On the other hand, the core know-how in CCL manufacturing lies in adjusting the resin formulation (including resin, silica powder, additives, etc.). The upgrade to M9-M10 requires CCL manufacturers to guide upstream suppliers on resin formulations. Therefore, as M10 upgrades and iterations become a clear future direction, the resin system will undoubtedly play a key role.   Focus on domestic computing power and breakthroughs in China-made CCL, highlighting resin leader Shengquan Group.   On the demand side, sales of domestic chips like the 950 may exceed market expectations, accelerating earnings releases in the second half of 2026 for PCBs, CCLs, and upstream materials in the domestic computing power supply chain. On the supply side, domestic CCL manufacturers such as Shengyi are not only breaking into the NV supply chain but also benefiting from the growth of domestic computing power. Shengquan Group, as a resin supplier to domestic CCL makers and the domestic computing power chain, stands to benefit significantly, with earnings potentially accelerating from the second half of 2026.   Resin price hikes begin, leading to sustained inflation in upstream PCB materials. This round of price increases is essentially a visible transmission of cost pressures from upstream raw materials. We reiterate our positive outlook on core material segments (resin, fiberglass fabric, copper foil, additives). This round of price increases validates the strength of their fundamentals.   Supply constraints are the core driver: The main reason for the price hikes is "tight supply." Upstream chemical raw materials currently face structural constraints, including global geopolitical instability, stricter environmental inspections, the phase-out of old capacity, and restrictions on new capacity additions. The chemical industry's upcycle is just beginning. With inelastic supply, the sustainability of high prices may exceed market expectations.   Industry position and pricing power are increasing amid industry restructuring: In the chain of "basic chemical raw materials → electronic-grade materials (resin/additives) → CCL → PCB," the electronic-grade material segment features high technical barriers and long certification cycles. Upstream companies are currently enjoying the dual benefits of rigid demand (AI servers, AI hardware, etc.) and limited supply, significantly enhancing their bargaining power vis-à-vis midstream players.   CCL leader's price hike is a key validation signal: Kingboard, an industry leader with superior cost-control capabilities, sending a price hike notice sends two signals:   Upward price pressure from upstream validates the reality and intensity of cost-push inflation.   It provides a pricing anchor for the entire CCL industry, opening room for other manufacturers to raise prices.   ---------------------------------------- Source: Research Highlights Disclaimer: We respect originality and also value sharing; the copyright of text and images belongs to the original authors. The purpose of reprinting is to share more information, which does not represent the position of this account. If your rights are infringed, please contact us immediately for deletion. Thank you.

March 3 (Caixin) – Driven by robust AI demand, the price hike cycle in the PCB (Printed Circuit Board) industry chain continues. The latest industry news is that Japanese semiconductor materials giant Resonac has increased prices for CCL (Copper Clad Laminate) and adhesive films by 30% effective March 1. Industry insiders anticipate Resonac's price increase will propagate to high-end manufacturing sectors such as MLCC (Multi-layer Ceramic Capacitors - Note: likely refers to copper clad laminate for MLCCs or related materials, though MLCC itself is a different component; context suggests CCL/laminate materials), HDI (High-Density Interconnect) boards, IC substrates, and high-frequency high-speed PCBs.   Furthermore, the PCB sector is about to receive a super catalyst—NVIDIA's LPU (Language Processing Unit) inference chip. Market analysts believe that with the implementation of AI applications and rapid growth in scale, the market for dedicated AI inference chips will expand quickly. This will have profound impacts on the PCB industry, driving simultaneous increases in volume and price, process upgrades, material innovation, and increased industry concentration. Consequently, this will enhance the value and importance of PCBs within AI chips, opening up entirely new market scale headroom for the PCB industry.   ---------------------------------------------------- Source: Shanghai Securities News Disclaimer: We respect originality and also value sharing; the copyright of text and images belongs to the original authors. The purpose of reprinting is to share more information, which does not represent the position of this account. If your rights are infringed, please contact us immediately for deletion. Thank you.

The intensity of the Middle East conflict continues to exceed market expectations. Following large-scale joint military strikes by the United States and Israel on Iran on February 28 local time, Iran has launched multiple rounds of retaliation. Risks to navigation through the Strait of Hormuz are escalating, further exacerbating global supply chain disruptions. The PCB industry is experiencing structural divergence, with the advantages of leading companies becoming increasingly prominent.   According to data from the Tonghuashun financial database as of February 27, the total market capitalization of leading domestic PCB companies all exceeded 100 billion yuan. Among them, Wus Printed Circuit (Kunshan) Co., Ltd. achieved a total market value of 160.877 billion yuan, ranking fourth in the PCB concept sector, highlighting the market recognition of these top-tier companies.   As a leader in the domestic PCB industry, Wus PCB's recent operating data has been impressive, with a notably clear trend of orders concentrating among top players. It is reported that driven by global supply chain restructuring spurred by the US-Iran conflict and the surge in AI computing power demand, the company's order book for high-end PCB products is full. Notably, procurement of PCBs related to liquid cooling servers surged by 310% year-on-year, becoming a core growth engine. According to data from China Insights Consultancy, as of June 30, 2025, Wus PCB held a global market share of 10.3% in the data center PCB segment and a substantial 25.3% global market share for high-end PCBs with 22 layers or more, ranking first worldwide, demonstrating significant technological and market advantages.   Industry analysts point out that the US-Iran conflict is driving up costs for upstream PCB raw materials such as crude oil and fiberglass. Copper-clad laminates, a core raw material for PCBs, account for 30% of production costs. A 10% increase in copper-clad laminate prices directly raises PCB costs by 5-7%, further squeezing the profit margins of smaller and medium-sized manufacturers. Concurrently, the conflict intensifies uncertainties in overseas supply chains. Due to insufficient production capacity, technology, and supply chain resilience, orders for small and medium-sized PCB manufacturers are accelerating their shift towards leading companies capable of stable supply. Wus PCB, deeply entrenched in the high-end communication board and server board sectors, is deeply integrated with leading downstream server manufacturers. It was also the first to achieve mass production of 1.6T switch PCBs, with product yields at an industry-leading level. Its liquid cooling server PCB products align with the green computing power development trend and cater to the heat dissipation needs of high-power-density computing clusters. With the domestic liquid cooling market projected to surge to 105 billion yuan in 2026, this provides the company with vast room for growth.   Furthermore, the acceleration of global AI computing power infrastructure and increased demand for military electronics are further driving growth in demand for high-end PCBs. The global data center liquid cooling market is expected to reach 116 billion yuan in 2026, a year-on-year increase of nearly 60%, directly stimulating procurement demand for high-end PCBs. Leveraging its technological advantages and production capacity layout, Wus PCB currently operates five production bases in Kunshan, Huangshi, Jintan, and Thailand. The Thailand base operated at 73.5% capacity utilization in the first half of 2025 and is gradually taking on overseas orders. The company is not only undertake domestic transfer orders but also expanding its global reach through its overseas base, positioning itself to continuously increase its global market share amidst the supply chain restructuring. As of early trading on March 2, Wus PCB's share price stood at 82.19 yuan, with a gain of over 150% in the past year. On February 27, its single-day trading volume reached 118 million shares, with a transaction value of 9.853 billion yuan and a turnover rate of 6.11%, indicating sustained active market trading and positive long-term growth expectations.   ----------------------------------------- Source: Today's Headlines Disclaimer: We respect originality and also value sharing; the copyright of text and images belongs to the original authors.

"Based on our recent understanding, the copper-clad laminate industry is entering a new cycle of prosperity. Some companies are not even shutting down for the Chinese New Year holiday," said a senior executive from a well-known domestic phenolic resin company to a Securities Times reporter on January 25th. "In the process of the rise of the domestic CCL industry, the domestic substitution of core materials is expected to accelerate." Companies Ramp Up Production of High-Performance CCLs Copper-Clad Laminate (CCL) is a major application field for phenolic resin. The downstream CCL clients of the aforementioned phenolic resin company include Taiwan Union Technology Corporation, ITEQ, Shengyi Technology (600183), Huazheng New Material (603186), Jin'an Guojie (002636), and Nan Ya New Material (688519), among others. "With the rapid growth in demand from AI servers, automotive electronics (885545), and optical communication, CCL companies are experiencing a recovery. We recently returned from a visit to a CCL company; they are quite optimistic about the 2026 outlook. Due to urgent customer orders, they are not planning to shut down for the Spring Festival," the executive added. It is understood that CCL is the upstream material for manufacturing PCBs (Printed Circuit Boards (884092)), with final application scenarios including communication equipment (881129), automotive electronics (885545), consumer electronics (881124), and semiconductors (881121), etc. In the next 3-5 years, the growth in the PCB industry will be primarily driven by the dual engines of "AI computing infrastructure + automotive electronics (885545) intelligence." Simultaneously, advanced packaging (886009), edge AI hardware, high-frequency communication, and other fields will provide structural growth opportunities. The trend of the industry upgrading towards higher-end, high-value-added products is clear. Recently, due to a surge in AI server demand causing tight supply of high-end raw materials, global leader Resonac has announced a comprehensive price increase of over 30% for materials including Copper Foil Substrates (CCL), effective from March 2026. With the surge in demand from AI servers and new energy vehicles (850101), the global PCB market reached $88 billion in 2024. According to forecasts by consultancy Prismark, the global PCB market output value will grow by approximately 6.8% in 2025, and the PCB industry will continue to grow in the coming years, reaching around $94.661 billion by 2029, with a compound annual growth rate (CAGR) of about 5.2%. In terms of global capacity distribution, China has become the absolute leader, accounting for about 50% of global PCB capacity. The Pearl River Delta (Guangdong accounts for 40% of national capacity), Yangtze River Delta, and Bohai Rim form the three core manufacturing belts. Driven by cost factors, Southeast Asia (513730) has undertaken the transfer of some mid-to-low-end PCB capacity. Those closest to the water know the temperature first. The reporter noted that after a prolonged downturn of 2-3 years, upstream CCL companies are experiencing a strong recovery and have been reporting positive results in their annual performance forecasts. For example, Jin'an Guojie (002636) reported net losses after deducting non-recurring items of 110 million yuan and 82.36 million yuan in 2023 and 2024, respectively. However, by the second half of 2025, the company's performance accelerated, with full-year net profit expected to increase by 655.53%—871.4%. Huazheng New Material (603186) forecasts a net profit of 260-310 million yuan for 2025, compared to a net loss after deducting non-recurring items of 119 million yuan in the previous year. Nan Ya New Material (688519) reported a net profit of 158 million yuan for the first three quarters of 2025, exceeding the full-year profit of 50.32 million yuan from the previous year. Industry leader (883917) Shengyi Technology (600183) reported a net profit of 2.443 billion yuan for the first three quarters of 2025, already surpassing the full-year 2024 net profit of 1.739 billion yuan. It is noteworthy that while collectively reporting positive annual results, CCL companies have also successively announced new rounds of production expansion. On January 4th, Shengyi Technology (600183) disclosed that it has signed a 4.5 billion yuan investment intent agreement for a high-performance CCL project with the Dongguan Songshan Lake High-Tech Industrial Development Zone Management Committee. In December 2025, Nan Ya New Material (688519) disclosed a private placement plan, intending to raise approximately 900 million yuan to expand production of high-end CCLs. In November 2025, Jin'an Guojie (002636) disclosed a private placement plan, intending to raise 1.3 billion yuan for projects including high-grade CCLs. Core Materials Accelerating Domestic Substitution In the new round of expansion within the CCL industry, upstream core material suppliers are expected to accelerate domestic substitution. "In recent years, many domestic high-end resins and their core materials have made significant progress in product performance enhancement and are now able to substitute for foreign counterparts on an equal footing," the aforementioned resin company executive stated. "Perhaps sensing the crisis of domestic substitution, Daihachi Chemical Industry (850102) recently approached our company, hoping we would become their agent for phosphorus-based flame retardants, but we declined." The executive cited an example: "Currently, while producing resins, we are also the agent for two special phosphorus-based flame retardants from Wansheng Co., Ltd. (603010). Leveraging our company's existing channel advantages and the cost-effectiveness of Wansheng's own products, we have introduced their products to several CCL companies. Previously, the use of these special flame retardants by these companies was largely monopolized by foreign firms." Regarding these statements, the reporter reviewed the company's public information and found that it has already deployed two core products in the high-end PCB upstream material field at its Weifang base: flame retardants for CCLs and photosensitive resins for PCB photoresists (885864). A representative from Wansheng Co., Ltd. (603010) told the reporter that the company has formed diversified supply capabilities for multiple types of flame retardants and photosensitive resins for CCLs, continuously solidifying its competitive advantage. Benefiting from the continuous expansion of the downstream printed circuit board (PCB) manufacturing industry and increasing requirements for fire performance in electronic products, the global market demand for flame retardants used in epoxy CCLs is expected to show a rapid growth trend. Halogen-free phosphorus-based flame retardants, which can avoid harmful gases produced by halogen combustion and the potential carcinogenic risks associated with antimony-based flame retardants, and possess good thermal stability and flame retardant efficiency, are seeing a significantly increased application proportion in high-end CCLs. It is understood that resin types involved include electronic-grade epoxy resins, electronic-grade phenolic resins, etc. Among them, electronic-grade resins act like "property adjusters" for CCLs—different resins can enhance different characteristics of CCLs, and the upgrading of CCL characteristics in turn makes PCB performance better. For example, the polar group structure and curing method of the resin affect the copper foil peel strength and interlayer bonding force of the CCL, making PCB processing more reliable. The more bromine-based or phosphorus-based flame-retardant elements in the resin, the higher the flame retardant rating of the CCL. Special structures can also achieve low dielectric properties and intrinsic flame retardancy, meeting the needs for high-frequency signal transmission and high-speed information processing, widely used in next-generation servers, automotive electronics (885545), communication networks, and other fields. Taking high-frequency CCLs as an example, such products are "special receivers" for ultra-high-frequency signals, operating at frequencies over 5GHz, suitable for ultra-high-frequency scenarios. They require ultra-low dielectric constant (Dk) and as low as possible dielectric loss (Df). They are core materials for 5G base stations, autonomous driving (885736) millimeter-wave radars (886035), and high-precision satellite navigation (885574). To lower Dk, it mainly relies on modifying the insulating resin, glass fiber, and overall structure. Industry insiders believe that as the global electronics industry upgrades towards "halogen-free, high-performance, high-reliability," the performance requirements for PCB upstream materials (especially flame retardants and CCLs) continue to increase, providing new market opportunities for material companies with technological advantages. These companies will gain first-mover advantages in the domestic substitution within the mid-to-high-end markets. In particular, Wansheng Co., Ltd. (603010), having laid out in advance the two core product lines of flame retardants for CCLs and photosensitive resins for PCB photoresists, will fully enjoy the benefits of industry growth and domestic substitution. ---------------------------------- Source: Securities Times e Company Disclaimer: We respect originality and also value sharing; the copyright of text and images belongs to the original author. The purpose of reprinting is to share more information, which does not represent the position of this account. If your rights are infringed, please contact us promptly, and we will delete the content as soon as possible. Thank you.

Introduction The F4BTMS series is an upgraded version of the F4BTM series. The material now incorporates a large amount of ceramics and utilizes ultra-thin and ultra-fine fiberglass cloth reinforcement. These enhancements have greatly improved the material's performance, resulting in a wider range of dielectric constants.   The incorporation of ultra-thin, ultra-fine fiberglass cloth reinforcement, along with a precise blend of special nanoceramics and polytetrafluoroethylene resin, minimizes electromagnetic wave interference, reducing dielectric loss and enhancing dimensional stability.   F4BTMS exhibits reduced anisotropy in the X/Y/Z directions, enabling higher frequency usage, increased electrical strength, and improved thermal conductivity.   Features F4BTMS material offers a wide range of dielectric constants, providing flexible options from 2.2 to 10.2, while maintaining a stable value throughout.   Its dielectric loss is extremely low, ranging from 0.0009 to 0.0024, minimizing energy dissipation and improving overall system efficiency.   F4BTMS exhibits excellent temperature coefficient of dielectric constant. The TCDK with a DK value ranging from 2.55 to 10.2, remains within 100 ppm/℃.   The CTE values in the X and Y directions are between 10-50 ppm/°C , while in the Z direction, it is as low as 20-80 ppm/°C. This low thermal expansion ensures exceptional dimensional stability, enabling reliable hole copper connections.   F4BTMS demonstrates remarkable resistance to radiation, retaining stable dielectric and physical properties even after exposure to irradiation; and low outgassing performance, meeting the vacuum outgassing requirements for aerospace applications.   PCB capability We offer a wide range of PCB manufacturing capabilities, allowing you to choose the best options for your needs.   We can accommodate various layer counts, including Single Sided, Double Sided, Multilayer, and Hybrid PCBs.   You can select from different copper weights, such as 1oz (35µm) and 2oz (70µm).   We offer a diverse selection of dielectric thicknesses, ranging from 0.09mm (3.5mil) to 6.35mm (250mil).   Our manufacturing capabilities support PCB sizes up to 400mm X 500mm, catering to designs of different scales.   Various solder mask colors are available, such as Green, Black, Blue, Yellow, Red, and more.   Moreover, we provide diverse surface finish options, including Bare copper, HASL, ENIG, Immersion silver, Immersion tin, OSP, Pure gold and ENEPIG etc.   PCB Material: PTFE,Ultra-thin and ultra-fine fiberglass, ceramics. Designation (F4BTMS ) F4BTMS DK (10GHz) DF (10 GHz) F4BTMS220 2.2±0.02 0.0009 F4BTMS233 2.33±0.03 0.0010 F4BTMS255 2.55±0.04 0.0012 F4BTMS265 2.65±0.04 0.0012 F4BTMS294 2.94±0.04 0.0012 F4BTMS300 3.0±0.04 0.0013 F4BTMS350 3.5±0.05 0.0016 F4BTMS430 4.3±0.09 0.0015 F4BTMS450 4.5±0.09 0.0015 F4BTMS615 6.15±0.12 0.0020 F4BTMS1000 10.2±0.2 0.0020 Layer count: Single Sided, Double Sided PCB, Multilayer PCB, Hybrid PCB Copper weight: 0.5oz (17 µm), 1oz (35µm), 2oz (70µm) Dielectric thickness 0.09mm (3.5mil), 0.127mm (5mil), 0.254mm(10mil),0.508mm(20mil), 0.635mm(25mil), 0.762mm(30mil), 0.787mm(31mil), 1.016mm(40mil), 1.27mm(50mil), 1.5mm(59mil), 1.524mm(60mil), 1.575mm(62mil), 2.03mm(80mil), 2.54mm(100mil), 3.175mm(125mil), 4.6mm(160mil), 5.08mm(200mil), 6.35mm(250mil) PCB size: ≤400mm X 500mm Solder mask: Green, Black, Blue, Yellow, Red etc. Surface finish: Bare copper, HASL, ENIG, Immersion silver, Immersion tin, OSP, Pure gold, ENEPIG etc..   Applications F4BTMS PCBs have extensive applications across various domains, including Aerospace and aviation equipment, Microwave and RF applications, Radar systems, Signal distribution feed networks, Phase-sensitive antennas and phased array antennas etc.

Introduction Wangling’s TP material is a unique high-frequency thermoplastic material in the industry. The dielectric layer of TP-type laminates consists of ceramics and polyphenylene Oxide resin (PPO), without fiberglass reinforcement. The dielectric constant can be precisely adjusted by adjusting the ratio between ceramics and PPO resin. The production process is special, and it has excellent dielectric performance and high reliability. Features The dielectric constant can be arbitrarily selected within the range of 3 to 25 according to circuit requirements, and it is stable. Common dielectric constants include 3.0, 4.4, 6.0, 6.15, 9.2, 9.6, 10.2, 11, 16, and 20. The material demonstrates low dielectric loss, with a slight increase at higher frequencies. However, this increase is not significant within the 10 GHz range. For long-term operation, the material can withstand temperatures ranging from -100°C to +150°C, showcasing excellent low-temperature resistance. It's important to note that temperatures exceeding 180°C may result in deformation, copper foil peeling, and significant changes in electrical performance. The material exhibits radiation resistance and displays low outgassing properties. Furthermore, the adhesion between the copper foil and dielectric is more reliable compared to ceramic substrates with vacuum coating. PCB Capability Let’s see our PCB Capability on TP materials. Layer count: We offer single-sided and double-sided PCBs based on the characteristics of the material. Copper weight: We provide options of 1oz (35µm) and 2oz (70µm), catering to different conductivity requirements. Wide range of dielectric thicknesses are available, such as 0.5mm, 0.8mm, 1.0mm, 1.2mm, 1.5mm, 2.0mm, 3.0mm, 4.0mm, 5.0mm, 6.0mm, 7.0mm, 8.0mm, 10.0mm, and 12.0mm, allowing flexibility in design specifications. Due to laminate size constraints, the maximum PCB we can provide is 150mm X 220mm. Solder mask: We offer various solder mask colors, including green, black, blue, yellow, red, and more, enabling customization and visual distinction. Our surface finish options include bare copper, HASL, ENIG, immersion silver, immersion tin, OSP, pure gold, ENEPIG, and more, ensuring compatibility with your specific requirements. PCB Material: Polyphenylene, ceramic Designation (TP Series) Designation DK DF TP300 3.0±0.06 0.0010 TP440 4.4±0.09 0.0010 TP600 6.0±0.12 0.0010 TP615 6.15±0.12 0.0010 TP920 9.2±0.18 0.0010 TP960 9.6±0.2 0.0011 TP1020 10.2±0.2 0.0011 TP1100 11.0±0.22 0.0011 TP1600 16.0±0.32 0.0015 TP2000 20.0±0.4 0.0020 TP2200 22.0±0.44 0.0022 TP2500 25.0±0.5 0.0025 Layer count: Single Sided, Double Sided PCB Copper weight: 1oz (35µm), 2oz (70µm) Dielectric thickness (or overall thickness) 0.5mm, 0.8mm, 1.0mm, 1.2mm, 1.5mm, 2.0mm, 3.0mm, 4.0mm, 5.0mm, 6.0mm, 7.0mm, 8.0mm, 10.0mm, 12.0mm PCB size: ≤150mm X 220mm Solder mask: Green, Black, Blue, Yellow, Red etc. Surface finish: Bare copper, HASL, ENIG, Immersion silver, Immersion tin, OSP, Pure gold, ENEPIG etc.. Applications Displayed on the screen is a TP high-frequency PCB with a thickness of 1.5mm, featuring OSP coating. TP high-frequency PCBs are also utilized in applications such as Beidou, missile-borne systems, fuzes, and miniaturized antennas etc.

Introduction Wangling’s TF laminates are a composite of microwave and temperature-resistant polytetrafluoroethylene (PTFE) resin material and ceramics. These laminates are free from fiberglass cloth and the dielectric constant is precisely adjusted by adjusting the ratio between ceramics and PTFE resin. With the application of special production processes, they demonstrate outstanding dielectric performance and offer a high level of reliability. Features TF laminates exhibit a stable and wide range of dielectric constant, which ranges from 3 to 16, with common values including 3.0, 6.0, 9.2, 9.6, 10.2, and 16. TF laminates feature exceptionally low dissipation factor, with loss tangent values of 0.0010 for DK ranging from 3.0 to 9.5 at 10GHz, 0.0012 for DK from 9.6 to 11.0 at 10GHz, and 0.0014 for DK spanning 11.1 to 16.0 at 5GHz. With a long-term working temperature surpassing TP materials, they can operate within a wide range of -80°C to +200°C The laminates come in thickness options ranging from 0.635mm to 2.5mm, catering to various design requirements. They boast resistance to radiation and exhibit low outgassing properties. PCB Capability We provide a comprehensive range of PCB manufacturing capabilities to fulfill your specific requirements. At first, we can accommodate both Single Sided and Double Sided PCBs. Then you have the option to select from different copper weights, such as 1oz (35µm) and 2oz (70µm), to meet your conductivity needs. A diverse selection of dielectric thicknesses are available in our house, ranging from 0.635mm to 2.5mm. Our manufacturing capabilities support PCB sizes up to 240mm X 240mm and various solder mask colours like Green, Black, Blue, Yellow, Red, and more. Additionally, we offer various surface finish options, including Bare copper, HASL, ENIG, Immersion silver, Immersion tin, OSP, Pure gold, and ENEPIG etc. PCB Material: Polyphenylene, ceramic Designation (TF Series) Designation DK DF TF300 3.0±0.06 0.0010 TF440 4.4±0.09 0.0010 TF600 6.0±0.12 0.0010 TF615 6.15±0.12 0.0010 TF920 9.2±0.18 0.0010 TF960 9.6±0.19 0.0012 TF1020 10.2±0.2 0.0012 TF1600 16.0±0.4 0.0014 Layer count: Single Sided, Double Sided PCB Copper weight: 1oz (35µm), 2oz (70µm) Dielectric thickness (Dielectric thickness or overall thickness) 0.635mm, 0.8mm, 1.0mm, 1.2mm, 1.5mm, 2.0mm, 2.5mm PCB size: ≤240mm X 240mm Solder mask: Green, Black, Blue, Yellow, Red etc. Surface finish: Bare copper, HASL, ENIG, Immersion silver, Immersion tin, OSP, Pure gold, ENEPIG etc.. Applications TF high-frequency PCBs are utilized in applications of microwave and millimeter-wave domains, such as millimeter-wave radar sensors, antennas, transceivers, modulators, multiplexers, as well as power supply equipment and automatic control equipment.

Introduction Wangling’s F4BTM series laminates are fiberglass cloth, nano-ceramic fillers, and PTFE resin, followed by strict pressing processes. They are based on the F4BM dielectric layer, with the addition of high dielectric and low loss nano-level ceramics, resulting in higher dielectric constant, improved heat resistance, lower thermal expansion coefficient, higher insulation resistance, and better thermal conductivity, while maintaining low loss characteristics.   F4BTM and F4BTME share the same dielectric layer but use different copper foils: F4BTM is paired with ED copper foil, while F4BTME is paired with reverse-treated (RTF) copper foil, offering excellent PIM performance, more precise line control, and lower conductor loss.   Features F4BTM offers a wide range of features. With a DK range from 2.98 to 3.5, it provides flexibility in design. The addition of ceramics further enhances its performance, making it suitable for demanding applications. This material is available in various thicknesses and sizes, catering to different project requirements while offering cost savings. Its commercialization and suitability for large-scale production make it a highly cost-effective choice. Additionally, F4BTM exhibits radiation-resistant and low out-gassing properties, ensuring its reliability even in challenging environments.   PCB Capability Our PCB manufacturing capabilities cover a wide range of options. We can handle various layer counts, including single-sided, double-sided, multilayer, and hybrid PCBs.   For copper weight, we offer options of 1oz (35µm), and 2oz (70µm), allowing flexibility in conductivity requirements.   When it comes to dielectric thickness (or overall thickness), we provide a comprehensive selection of options ranging from 0.25mm to 12.0mm, catering to different design specifications.   The maximum PCB size we can accommodate is 400mm X 500mm, ensuring sufficient space for your project.   We offer a variety of solder mask colors, including green, black, blue, yellow, red, and more, allowing for customization and visual distinction.   Regarding surface finish, we support several options such as bare copper, HASL, ENIG, immersion silver, immersion tin, OSP, pure gold, ENEPIG, and more, ensuring compatibility with your specific requirements.   PCB Material: PTFE / glass fiber cloth / Nano-ceramic filler Designation (F4BTM ) F4BTM DK (10GHz) DF (10 GHz) F4BTM298 2.98±0.06 0.0018 F4BTM300 3.0±0.06 0.0018 F4BTM320 3.2±0.06 0.0020 F4BTM350 3.5±0.07 0.0025 Layer count: Single Sided, Double Sided PCB, Multilayer PCB, Hybrid PCB Copper weight: 1oz (35µm), 2oz (70µm) Dielectric thickness (or overall thickness) 0.25mm, 0.508mm, 0.762mm, 0.8mm, 1.0mm, 1.016mm, 1.27mm, 1.524mm, 2.0mm, 3.0mm, 4.0mm, 5.0mm, 6.0mm, 8.0mm, 10.0mm, 12.0mm PCB size: ≤400mm X 500mm Solder mask: Green, Black, Blue, Yellow, Red etc. Surface finish: Bare copper, HASL, ENIG, Immersion silver, Immersion tin, OSP, Pure gold, ENEPIG etc..   Applications The screen displays a DK 3.0 F4BTM PCB, constructed on a 1.524mm substrate and featuring HASL surface finishes.   F4BTM PCBs are utilized in various applications, including Antenna, Mobile Internet, Sensor Network, Radar, Millimeter Wave Radar, Aerospace, Satellite Navigation, and Power Amplifier etc.

Brief introduction RO3203 high frequency circuit materials are ceramic-filled laminates reinforced with woven fiberglass. These materials have been specifically engineered to provide exceptional electrical performance and mechanical stability while remaining cost-effective. As an extension of the RO3000 series, RO3203 materials stand out with their enhanced mechanical stability.   With a dielectric constant of 3.02 and a dissipation factor of 0.0016, RO3203 materials enable an extended useful frequency range beyond 40 GHz.   Features RO3203 has a thermal conductivity of 0.48 W/mK, indicating its ability to conduct heat.   The volume resistivity is 107 MΩ.cm and surface resistivity of the material is also 107 MΩ.   RO3203 exhibits a dimensional stability of 0.8 mm/m in the X and Y directions and it has a moisture absorption rate of less than 0.1%, indicating its ability to resist absorbing moisture when exposed to specific conditions.   The material has different coefficients of thermal expansion in three directions. The Z-direction coefficient is 58 ppm/℃, while the X and Y-direction coefficients are both 13 ppm/℃.   RO3203 has a Thermal Decomposition Temperature (Td) of 500℃ and a density of 2.1 gm/cm3 at 23℃.   After soldering, the material exhibits a copper peel strength of 10.2 lbs/in and a flammability rating of V-0 according to the UL 94 standard, while also being compatible with lead-free processes.   Property RO3203 Direction Units Condition Test Method Dielectric Constant,εProcess 3.02±0.04 Z - 10 GHz/23℃ IPC-TM-650 2.5.5.5 Dielectric Constant,εDesign 3.02 Z - 8 GHz - 40 GHz Differential Phase Length Method Dissipation Factor, tan d 0.0016 Z - 10 GHz/23℃ IPC-TM-650 2.5.5.5 Thermal Conductivity 0.48   W/mK Float 100℃ ASTM C518 Volume Resistivity 107   MΩ.cm A ASTM D257 Surface Resistivity 107   MΩ A ASTM D257 Dimensional Stability 0.8 X, Y mm/m COND A IPC-TM-650 2.4.3.9 Moisure Absorption