Shengyi Technology's 2025 Net Profit Surges Over 90%

April 27, 2026

Shengyi Technology (600183) released its 2025 annual report on the evening of April 24. During the reporting period, the company achieved operating revenue of RMB 28.431 billion, a year-on-year increase of 39.45%; net profit attributable to shareholders was RMB 3.334 billion, up 91.75% year-on-year; and ex-nonrecurring net profit was RMB 3.175 billion, up 89.54% year-on-year. At the same time, the company announced a planned investment of RMB 5.2 billion to build a high-performance copper-clad laminate (CCL) project, further reinforcing its core strategic layout in the electronic materials sector.

Shengyi Technology (600183) focuses on the R&D, production, and sales of electronic materials, including copper-clad laminates, bonding sheets, and printed circuit boards (PCBs). The company’s rigid copper-clad laminate sales have ranked second globally for several consecutive years, capturing a global market share of 13.7% in 2024. In 2025, the company produced 15,813,100 square meters of copper-clad laminate, up 10.03% year-on-year; sales volume reached 16,062,800 square meters, up 11.95% year-on-year. For printed circuit boards, production was 172,980 square meters, up 17.55% year-on-year, and sales volume was 171,620 square meters, up 17.80% year-on-year. By product segment, copper-clad laminates and bonding sheets contributed RMB 17.774 billion in revenue, up 20.17% year-on-year; PCBs generated RMB 9.144 billion, up 103.93% year-on-year, becoming the core driver of performance growth.

In terms of R&D, the company invested RMB 1.45 billion in 2025, accounting for 5.10% of operating revenue, with a total of 2,031 R&D personnel. The company has focused its technological efforts on automotive electronics, AI servers, advanced packaging, and other key areas, achieving breakthroughs in several high-end products such as FC-BGA packaging substrates, HDI low-dielectric CCL, and low-carbon CCL, with some products reaching internationally leading performance levels.

Regarding profit distribution, the company plans to distribute RMB 8 (including tax) for every 10 shares. Combined with interim dividends, the total cash dividend ratio for the year reaches 87.43%. Over the past three years, cumulative dividends have exceeded RMB 5.4 billion.

Separately, Shengyi Technology (600183) announced the construction of a high-performance copper-clad laminate project located in Songshan Lake, Dongguan. The total investment is approximately RMB 5.2 billion, including land acquisition costs of about RMB 200 million, production equipment investments of approximately RMB 2.37 billion, plant civil engineering and ancillary facilities of about RMB 1.57 billion, auxiliary equipment and facilities of RMB 660 million, an information management system of about RMB 200 million, and initial working capital of about RMB 200 million. The project will be carried out in two phases. According to industry data, the global AI-related CCL market size is expected to reach USD 2.2 billion in 2025, doubling year-on-year. Meanwhile, segments such as 5G base station construction and new energy vehicles will continue to drive rapid growth in metal-based, halogen-free, and other high-performance CCLs. It is estimated that the market size for base station CCL will exceed RMB 12 billion by 2030, representing a compound annual growth rate of 9.2%.

The company stated that this investment will further improve its high-end material production capacity layout. Aligned with the industry’s high-end and intelligent development trends, the project focuses on high-performance, high-reliability CCL products to meet emerging demands in AI computing, advanced packaging, new energy vehicles, and other fields. Relying on the company’s existing technical expertise and industrial chain advantages, the project will adopt advanced production processes and intelligent equipment to enhance the supply capacity of high-end CCL, optimize product mix, and consolidate Shengyi Technology’s leading position in the global CCL market.