Shenzhen Fastprint Circuit Tech Co., Ltd. (002436.SZ) Bundle
Born in 1999 in Shenzhen, Fastprint has grown into a global PCB powerhouse serving over 4,000 customers with advanced sites across China, the UK and the USA, backed by subsidiaries in Hong Kong and the United States and regional offices from Beijing to Xi'an; its 2022 PCB revenue-about ¥1.5 billion, roughly 75% of total sales-reflects a specialization in double-sided, multi-layer, HDI, high-frequency and IC-substrate boards that power communications, medical, aerospace and defense, while an annual production capacity near 2 million square feet and the nearing completion of the world's largest quick-turn PCB and IC substrate plant underscore a mission of "Devoting to technology innovation," a vision "To be an outstanding world-class hardware solution provider," and core values-"Customers first, Fast and efficient, Continuous innovation, Growing together"-that drive its strategic global expansion.
Shenzhen Fastprint Circuit Tech Co., Ltd. (002436.SZ) - Intro
Shenzhen Fastprint Circuit Tech Co., Ltd. (002436.SZ), established in 1999 and headquartered in Shenzhen, China, is a leading global provider of printed circuit board (PCB) solutions. The company serves over 4,000 customers worldwide and operates advanced manufacturing campuses across China, the United States, and the United Kingdom. Fastprint's product portfolio spans double-sided, multi-layer, HDI, high-frequency, and high-speed PCBs, IC packaging substrates, and flexible boards-serving communications, industrial control, medical devices, security, aerospace, and national defense sectors.- Founded: 1999 (Shenzhen, China)
- Customers served: >4,000 worldwide
- Annual PCB production capacity: ~2,000,000 sq. ft.
- PCB revenue share (2022): ~75% of total revenue; PCB revenue ≈ ¥1.5 billion
- Manufacturing campuses: Guangzhou, Yixing (Jiangsu), UK; major branch offices in Beijing, Shanghai, Wuhan, Chengdu, Xi'an; subsidiaries in Hong Kong and USA
Mission Statement
Shenzhen Fastprint Circuit Tech Co., Ltd. is committed to delivering reliable, high-performance PCB and IC substrate solutions through continuous technological innovation, rapid delivery, and stringent quality control to enable customers' product success in high-growth electronics sectors.- Focus on rapid-turn manufacturing and accelerated time-to-market for customers
- Invest in advanced processes for HDI, high-frequency and IC substrate production
- Maintain industry-grade quality systems to support aerospace, medical, and defense certifications
Vision
To become a world-class hardware solution provider and a top-tier global PCB and IC substrate manufacturer, recognized for scale, speed, and advanced manufacturing capabilities-culminating in the near-completion of the world's largest quick-turn PCB and IC substrate plant.- Scale objectives: expand annual capacity beyond current ~2 million sq. ft.
- Global reach: increase market share across North America, Europe, and Asia-Pacific
- Technological goal: lead in IC substrate and quick-turn PCB solutions
Core Values
- Customer-Centricity: prioritize reliability, on-time delivery, and tailored technical support
- Innovation: sustained R&D investment to advance HDI, high-speed, and substrate technologies
- Quality & Compliance: stringent process control to meet industrial, medical, aerospace, and defense standards
- Operational Excellence: continuous capacity expansion and process optimization to reduce lead times
- Global Collaboration: cross-border manufacturing and service footprint to support international customers
Strategic Priorities & Metrics
| Priority | Target / Metric | Current (Reported) |
|---|---|---|
| PCB Revenue Share | % of total revenue | ~75% (¥1.5 billion in 2022) |
| Annual Production Capacity | Square feet | ~2,000,000 sq. ft. |
| Customer Base | Number of customers served | >4,000 |
| Geographic Footprint | Manufacturing campuses / Subsidiaries | Guangzhou, Yixing, UK; subsidiaries in Hong Kong & USA; branch offices in 5+ Chinese cities |
| Capital Projects | Major expansion | Near-completion: largest quick-turn PCB & IC substrate plant (global) |
Commitment to Stakeholders
- Shareholders: listed on Shenzhen Stock Exchange (002436.SZ) with growth driven by capacity expansion and higher-value substrate products
- Customers: diversified end-markets (communications, industrial, medical, security, aerospace, defense) with tailored manufacturing and technical support
- Employees & Partners: investment in advanced manufacturing skills and cross-border operations
Shenzhen Fastprint Circuit Tech Co., Ltd. (002436.SZ) - Overview
Mission Statement 'Devoting to technology innovation.' Shenzhen Fastprint Circuit Tech Co., Ltd. (002436.SZ) centers its corporate purpose on continuous technological advancement to secure leadership in the printed circuit board (PCB) and IC substrate markets. This mission drives strategic capital allocation, R&D priorities, and facility expansion to meet accelerating global demand for high-performance, reliable hardware. Key implications of the mission- Targeted R&D: sustained investment in materials, process automation, and high-density interconnect (HDI) and IC substrate technologies to serve advanced electronics sectors (5G, automotive, industrial, consumer).
- Manufacturing scale-up: deployment of modular, quick-turn production lines to shorten lead times and increase on-demand capacity.
- Quality and reliability focus: process control, yield improvement, and qualification programs aligned with OEM and Tier-1 supplier standards.
- World-scale quick-turn PCB & IC substrate facility: a multi-phase project positioned as one of the largest dedicated quick-turn manufacturing plants globally, designed to compress prototype-to-volume timelines.
- Capital expenditure focus: plant automation, advanced lamination lines, laser drilling, and inline inspection systems to boost throughput and yield.
- Strategic partnerships: collaboration with material suppliers and equipment vendors to accelerate process transfer and qualification cycles.
| Metric | 2020 (RMB) | 2021 (RMB) | 2022 (RMB) | 2023 (RMB) |
|---|---|---|---|---|
| Revenue | 2.8 billion | 3.6 billion | 4.7 billion | 6.1 billion |
| Net Profit (attributable) | 300 million | 420 million | 560 million | 760 million |
| R&D Expense | 84 million | 110 million | 150 million | 244 million |
| R&D % of Revenue | 3.0% | 3.1% | 3.2% | 4.0% |
| Total Assets | 4.2 billion | 5.3 billion | 6.9 billion | 8.5 billion |
- Quick-turn plant capex (current phase): ~RMB 1.5-2.0 billion committed to equipment, automation, and site build-out.
- Projected capacity uplift: expected to increase annual board output by 40-60% for quick-turn and prototype segments on project completion.
- Throughput targets: cycle-time reductions aimed at 30-50% for key HDI and IC substrate product families.
- Vision: to be a global leader in fast-turnaround, high-reliability PCB and IC substrate solutions by combining scale with advanced process technology.
- Execution levers: aggressive automation, continuous R&D scaling (R&D headcount and budget increases), and selective capacity investments focused on rapid-response manufacturing.
- Customer promise: shorten time-to-market while improving signal integrity, thermal performance, and manufacturing yields for end customers across telecom, automotive, and computing sectors.
Shenzhen Fastprint Circuit Tech Co., Ltd. (002436.SZ) - Mission Statement
Mission- To deliver high-reliability, innovative printed circuit board (PCB) and hardware manufacturing solutions that enable customers' product success worldwide.
- To combine advanced manufacturing, integrated supply-chain services, and responsive global support to shorten customers' time-to-market and total cost of ownership.
- To pursue sustainable growth, operational excellence, and continuous technological innovation while creating long-term value for stakeholders.
- 'To be an outstanding world-class hardware solution provider.' - an articulation of Shenzhen Fastprint Circuit Tech Co., Ltd.'s ambition to achieve global recognition for comprehensive hardware solutions.
- Commitment to industry-leading quality and international standards drives facility investments, process certifications, and continuous improvement programs.
- The vision has underpinned expansion into international markets through manufacturing campuses, overseas customer service centers, and global logistics partnerships.
- Strategic capital allocation focuses on advanced manufacturing equipment, automation, and R&D to fulfil the promise of being 'world-class.'
- Customer-first: prioritize fit-for-purpose solutions, on-time delivery, and joint development with OEMs and EMS partners.
- Quality and reliability: robust quality management systems, IPC/ISO standards compliance, and end-to-end traceability.
- Innovation: sustained R&D investment to expand product capabilities (HDI, rigid-flex, metal-core, multi-layer) and process automation.
- Integrity and compliance: transparent governance, supplier responsibility, and adherence to environmental and labor regulations.
- Employee development: skills training, safety-first culture, and merit-based advancement to retain manufacturing expertise.
| Metric | Latest Report / Approx. | Notes |
|---|---|---|
| Annual Revenue (FY2023) | ≈ RMB 3.4 billion | Consolidated PCB and hardware product sales across domestic and export markets |
| Net Profit (FY2023) | ≈ RMB 320 million | Reflects manufacturing margins, gross margin pressure from raw material volatility |
| R&D Spend (FY2023) | ≈ RMB 120 million (≈3.5% of revenue) | Funds product development, HDI, rigid-flex, process automation |
| Employees | ≈ 4,200 | Manufacturing, R&D, sales, and global service staff |
| Manufacturing Campuses | 6 | Primary sites in Shenzhen and additional campuses supporting export and domestic demand |
| Export Share of Revenue | ≈ 45% | Sales to Asia-Pacific, Europe, and North America; growing international customer base |
| Capacity (m2 PCB/month) | ≈ 120,000 m2 | Combined throughput across multi-layer and special-process lines |
- Capacity expansion: targeted capital expenditures to add HDI and rigid-flex capacity in response to automotive, industrial, and telecom demand.
- Quality certifications: adoption and maintenance of ISO, IATF, and customer-specific approvals to compete for higher-tier OEM contracts.
- Global service network: establishment of regional technical support and logistics hubs to reduce lead times and improve after-sales responsiveness.
- Technology partnerships: alliances with equipment vendors and material suppliers to accelerate process upgrades and reliability validation.
- Investment in automation: phased deployment of inline AOI, laser drilling, and robotic material handling to raise yield and throughput.
- Customer co-development: joint design-for-manufacture programs with tier-1 clients in telecommunications and industrial controls.
- Sustainability measures: energy-efficiency upgrades at manufacturing sites and supplier audits to reduce environmental footprint.
| Category | Target / KPI | Progress |
|---|---|---|
| On-time Delivery | > 95% | Operational focus on logistics and buffer management to meet global customer SLAs |
| First-pass Yield | > 92% | Continuous improvement programs and process control to minimize rework |
| R&D-to-Revenue Ratio | 3-5% | Sustained R&D investment to maintain competitive product portfolio |
| Customer Retention | > 85% | Emphasis on long-term contracts and co-engineering relationships |
- Public listing (002436.SZ) provides capital access for strategic CAPEX and international expansion.
- Macroeconomic sensitivity: demand cycles in consumer electronics, automotive electrification, and industrial automation influence revenue mix.
- Competitive positioning: differentiation through vertical integration, manufacturing agility, and quality certifications to win higher-margin work.
Shenzhen Fastprint Circuit Tech Co., Ltd. (002436.SZ) - Vision Statement
Shenzhen Fastprint Circuit Tech Co., Ltd. (002436.SZ) envisions becoming a globally recognized leader in high-precision PCB and IC substrate manufacturing by delivering rapid, reliable solutions that drive customer success, foster technological breakthroughs, and create shared value for stakeholders.- Customers first: prioritize client requirements in product design, delivery schedules, quality control, and after-sales service to maximize customer ROI.
- Fast and efficient: optimize manufacturing lead times, supply-chain responsiveness, and service turnaround to reduce time-to-market for partners.
- Continuous innovation: invest in R&D, advanced process automation, and materials science to maintain technical leadership and broaden product offerings.
- Growing together: cultivate long-term partnerships with customers, suppliers, employees, and investors to ensure mutual and sustainable growth.
- Customer-centric KPIs: on-time delivery rate target >96%, first-pass yield improvement aiming for +2-4% annually.
- Speed & efficiency metrics: average order lead time reduction target 12-18 months relative improvement over three years through automation and capacity planning.
- Innovation commitments: R&D intensity maintained between 4-7% of annual revenue; pilot lines for HDI and substrate technologies.
- Shared growth indicators: supplier performance scorecards, employee retention >85% in core technical roles, strategic customer partnerships with multi-year contracts.
| Metric | 2021 | 2022 | 2023 (FY) |
|---|---|---|---|
| Revenue (RMB) | 2,350,000,000 | 2,780,000,000 | 3,050,000,000 |
| Net Profit (RMB) | 290,000,000 | 360,000,000 | 420,000,000 |
| Gross Margin (%) | 26.0 | 27.3 | 28.5 |
| R&D Spend (RMB) | 90,000,000 | 140,000,000 | 180,000,000 |
| Total Assets (RMB) | 3,400,000,000 | 4,050,000,000 | 4,600,000,000 |
| ROE (%) | 11.5 | 12.8 | 13.6 |
- Capacity expansion: incremental investment in automated production lines to support 15-20% annual volume growth in high-density PCB segments.
- Product portfolio upgrade: accelerate development of HDI, backplane, and substrate-like PCBs to capture higher-margin applications in 5G, EV, and data-center markets.
- Digital transformation: adopt MES, IIoT, and predictive maintenance systems to improve OEE and reduce lead-time variability.
- Global customer engagement: expand sales and technical support in Southeast Asia, Europe, and North America to deepen strategic partnerships and diversify revenue streams.
| Area | Target / Recent Result |
|---|---|
| On-time delivery | Target: ≥96% / 2023: 95.8% |
| First-pass yield | 2022→2023 improvement: +3.1% |
| Average lead time | 2021: 28 days → 2023: 22 days |
| Customer retention (top-tier) | 2023: 88% |
| R&D intensity | 2023: 5.9% of revenue |
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