China's leading PCB photosensitive ink manufacturer JSGX Photosensitive Material Technology Group signed a "Technical Commission Development Contract" with TWGZ New Materials Co., Ltd. in November 2018, entrusting it to develop "UV-type positive type for flexible substrates for printed circuit boards. The "photoresist" technology project entered the field of photoresist.
New UV-curable coatings benefiting from environmental protection policies are expected to become mainstream products in the coatings industry. At present, the company's coatings are mainly used in the field of consumer electronics, and the demetalization of mobile phone casings in the 5G era is also expected to drive JSGX coatings business to usher in new opportunities.
China's leading PCB ink company
JSGX was established in 2006. Its main products are special inks, special coatings and other electronic chemicals. The products are widely used in printed circuit boards, precision processing of electronic products, consumer electronics and other fields. It has independent research and development of high-performance special inks and special coatings. Ability, is a leading manufacturer of special inks and special coatings in China and even the world.
According to the company's 2020 semi-annual report, the two major products, special coatings and special inks, account for about 88.89% of the company's operating income. In 2017, the company entered the coatings field by acquiring 100% equity of Jiangsu Hongtai, and won the trust and recognition of Huawei, OPPO, Lenovo, PetroChina, ALBEA and other well-known companies with its easy-to-clean anti-fingerprint coatings and PVD coatings.
In the field of special inks, JSGX has accumulated a number of stable customers with strong comprehensive strength, such as Eaton Electronics and Bomin Electronics, and maintains a good reputation with its first-tier foundries such as Shenzhen BYD, Jiaxing Wingtech, Hangzhou Gengde, and Dongguan Jinsheng. Long lasting partnership.
In 2019, JSGX ushered in a period of performance explosion, achieving revenue of 809 million yuan, a year-on-year increase of 26.52%.
PCB ink market increment is highly certain
As far as the PCB ink market is concerned, it resonates with the PCB market, and the Chinese PCB market has increased significantly due to the advent of the 5G era. According to data from SZRD Photosensitive Material Technology Group, PCB ink accounts for an average of about 3% of PCB output value. Therefore, the market scale of PCB ink and the market scale of PCB basically maintain resonance.
According to the CPCA data of China Circuit Board Association, each square meter PCB circuit board requires 0.5kg of special ink. In 2016, China's circuit board output reached 267 million square meters. The corresponding demand for special ink was 133,500 tons. The industry market size is about 40-60 100 million yuan, so the PCB ink field where JSGX is located has a bright future.
At present, relying on continuous R&D innovation and high-standard quality management, JSGX has ensured that its products have stable quality and good use effects, and has accumulated a number of stable customers with strong comprehensive strength such as Eaton Electronics, Bomin Electronics, and Kangmei Electronics. , And formed a benign cooperative relationship with mutual cooperation and mutual benefit. So far, it has been assessed as an excellent supplier by many companies.
JSGX said that the high-quality customer base further enhances the company's brand effect, laying a solid foundation for the company's long-term sustainable and stable development.
Seize the opportunity to lay out the photoresist sector
In addition, the company has fully grasped the trend of domestic substitution, relying on the accumulation of technology in the PCB ink field, and has entered the photoresist field. In order to further expand its business scope, JSGX also acquired a 60% stake in Hangsheng Energy in 2018. The company has R&D, production and sales capabilities for new energy battery electrolytes, which is precisely to enter the new energy industry.
As of 2019, JSGX has accumulated 30 authorized invention patents, 78 utility model patents, and 1 design patent. 5 new invention patents and 24 utility model patents were newly authorized in the current period. In the first half of 2020, JSGX and its subsidiaries have newly authorized 3 invention patents. As of the end of the period, they have accumulated 33 authorized invention patents, 78 utility model patents, and 1 design patent.
The photoresist field has high technical barriers because of its special chemical structure, strong confidentiality, low dosage, high purity requirements, complex production processes, demanding quality requirements, large investment in production, testing, and evaluation equipment, and long-term related technologies accumulation. Even today, photoresist specialty chemicals are mainly monopolized by chemical oligopolists such as Japan Synthetic Rubber (JSR), Tokyo Chemical Industry (TOK), Sumitomo Chemical, DuPont, and BASF.
JSGX accurately grasped the industry trends and signed a "Technology Entrusted Development Contract" with TWGZ New Materials Co., Ltd. on November 25, 2018, entrusting it to research and develop "UV-type positive photoresists for flexible substrates of printed circuit boards" Technical project.
The JSGX project can be applied to high-resolution UV-type positive photoresists in the fields of printed circuit board flexible substrates, LCD and LED display panels, semiconductor components, etc. The products can be developed with water-based developer.
At this stage, the first batch of products of JSGX "Photoresist Technology Development Project" has achieved research and development results, and has been successfully tested by customers in Taiwan, China. The performance and quality have greatly met the needs of customers. The second batch of R&D products is in preparation.