2008Hong Kong & South China PCB Market Survey

Hong Kong & South China PCB Market Survey

By Hong Kong Printed Circuit Association Oct 2009

Contents Economic and Business Outlook in South China Worldwide PCB Market Overview PCB Market in HK & South China Acknowledgement 2

1

Past and Present China

Today South China is not only an ideal manufacturing hub which attracts many world's leading electronics manufacturers, but also a gateway to huge potential electronics market in China. South China makes up the biggest share of the total PCB production in the country, followed by other regions in China. 3

Gross Domestic Product and Growth in China Billions RMB

China's GDP and Real Growth

35,000

40.00% China GDP

China Real GDP Growth(% ) 30067

30,000

30.00%

24661.9

25,000

25.00%

21081.7

20,000

18386.8

20.00%

15987.8

15,000

13582.3

15.00%

12033.3

10,000

9921.5 8967.7 8440.2 7897.3 9.3% 7.8% 7.6%

8.4%

10965.5 8.3%

11.1% 9.1%

10.0%

10.1%

11.4%

9.9% 9.0%

5,000

10.00% 5.00%

0

0.00% 1997

4

35.00%

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

Source: National Bureau of Statistics, tdctrade.com, US-China Business Council

2

China’s Trade with the World (US $ Billion) Exports

Imports

Exports YoY %change

Imports YoY % change

1600

45.00% 1435

39.9%

1400

40.00%

36.0% 35.8%

1218

35.4%

1200

1074 28.4% 969

1000 27.8% 22.3% 21.2%

792

660

593

600

561 438

400 266 249 225 8.2% 244 6.8%

17.6%

30.00%

956 27.2%

762

800

200

35.00%

34.6%

20.0%

25.00%

25.7%

20.00%

20.8%

15.00%

413

12.3% 12.1%

10.00%

326295

5.00%

0

0.00% 2000

5

2001

2002

2003

2004

2005

2006

2007

2008

Source: National Bureau of Statistics, tdctrade.com, China’s Customs Statistics

South China – An Economic Powerhouse

South China

6

3


Recent Market Outlook 











8

Forecast for PCB in 2009 has a contraction at 16.4% over 2008. A marginal growth of 4.5% in 2010. The world electronics market experienced a hard time and bottomed in the first or second quarter of 2009. With the worst behind us, everyone look forward to a better second half of 2009 with further recovery in 2010. Lights at the end of the tunnel, market starts to see positive signs in consumer spending, stronger sales rebound in SE Asia. Some electronics sectors are recovering faster than previously expected e.g. notebook, Smartphone. Developing market is one of the key drivers in the electronics market e.g. infrastructure. Utilization starts to increase for some players in Q2 depending on the market segments.

4

Global PCB Production Outlook by region RECENT HISTORY AND OUTLOOK FOR THE GLOBAL PRINTED CIRCUIT INDUSTRY

$Bn $70

Kc10 9.04 4kk-colors

Growth Drivers: Microvia, Flex, Packaging Substrates

$65 $60

Historical Growth Rate From 1995 to 2000 10.7% per year

$55

Average Growth Rate Forecast From 2008 to 2013 3.9% per year

PCB Production in China Still Grows Strongly

Greater than six-year global recovery period

$58.4Bn

39.0% $22.8Bn

$48.2Bn

$50

$40.9Bn

$40.6Bn

$45 $40 $35 $30

31.2% $15.0Bn

China

32.0% $18.7Bn

Asia (ex. Japan and China)

$25 $20 $15

31.7% $15.3Bn

Japan

17.4% $10.2Bn

Europe

21.1% $10.2Bn

$10

$5

9.3% $4.5Bn

$0 1999

9

3.8% $2.2Bn 7.8% $4.5Bn

6.7% $3.2Bn

Americas 2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

Source: Prismark

October 2009

Change of Product Mix CHANGES AND FORECAST OF THE PCB MARKET 2000

2008

2013

Flexible Circuits Flexible Circuits Flexible Circuits Packaging 8.4% Commodity Boards Commodity Boards 15.3% 16.2% Substrates 23.6% 15.5% 8.6% Microvia Boards Packaging Packaging 5.1% Substrates Substrates 14.7% 14.4% Microvia Boards 13.3%

Multilayer Boards 54.3%

Total: $40,920M Value ($M) Commodity Boards Multilayer Boards Microvia Boards Packaging Substrates Flexible Circuits Total

10


N99.044skc-changes pies

Commodity Boards 13.2%


Microvia Boards 13.7%

Total: $48,230M

Total: $58,445M

2000

2008

Change 2000 – 2008

2013F

2008 – 2013 CAAGR

$9,674 $22,217 $2,074 $3,505 $3,450 $40,920

$7,492 $19,994 $6,425 $6,959 $7,359 $48,230

-22.6% -10.0% 209.8% 98.5% 113.3% 17.9%

$7,690 $24,682 $8,033 $8,592 $9,448 $58,445

0.5% 4.3% 4.6% 4.3% 5.1% 3.9%

Source: Prismark

5

Production in Asia Countries

US$M Japan China/HK Taiwan Korea India Vietnam Singapore Malaysia ROW With Japan Asia Americas Europe WW Total

2008

2013

$10,186 $15,037 $6,725 $5,362 $255 $238 $578 $432 $1,725 $40,538 $4,484 $3,208 $48,230

$10,169 $22,820 $7,960 $6,460 $590 $415 $590 $610 $2,050 $51,664 $4,547 $2,234 $58,445

CAAGR 2008-2013 0.0% 8.7% 3.4% 3.8% 18.2% 11.8% 0.4% 7.1% 3.5% 5.0% 0.3% -7.0% 3.9%

Source: Prismark

11

Global PCB Sales Revenue Global PCB Sales Revenue 2008 (by Product Category/ Million USD)

4 layer

6 layer

8-16 layer

18+layer

HDI

IC package

Flex + Rigid Flex

Total

579

3,023

4,756

3,885

2,967

403

4,610

3,796

5,072

30,352

Japan

111

455

307

832

792

1,104

302

1,343

3,088

1,852

10,186

Americas

16

28

570

645

662

1,500

502

205

70

285

4,483

82

166

895

689

407

382

164

267

5

151

3,208

6,922

5,746

5,953

1,371

6,425

6,959

7,360

48,229

EU Europe (Europe / Middle East / Africa) World

1,470

1,228

4,795

% Share

3.05%

2.55%

9.94% 14.35% 11.91% 12.34% 2.84% 13.32% 14.43% 15.26%

Asian Share

12

Rigid Class

Asia (Except Japan) 1,261

Composite

($ M)

Paper

Multilayer

100%

85.78% 47.15% 63.04% 68.71% 67.61% 49.84% 29.39% 71.75% 54.55% 68.91% 62.93%

Source: Prismark Partner LLC, 2009

6

Global PCB Sales Revenue Europe (Europe / Middle East / Africa)

Americas 9%

7%

Japan 21% Asia (Except Japan) 63%

Source: Prismark Partner LLC, 2009

13

Top 20 PCB Makers in the World US$ M 2008 Ranking 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 14

Maker

Nationality Revenue

Ibiden Japan Unimicron Taiwan Nippon Mektron Japan Nanya PCB Taiwan Samsung E-M Korea CMK Japan KB Chemical PCB Group HK-China Tripod Taiwan Multek USA Meiko Japan Compeq Taiwan Shinko Electric IndJapan Meadville Group HK-China LG Micron Korea AT&S Europe Fujikura Japan HannStar Board Taiwan TTM USA Foxconn Taiwan Gold Circuit Taiwan

1,629 1,489 1,233 1,179 1,174 1,076 1,014 933 815 702 697 680 670 646 646 635 633 596 550 545 Source: NTI Information

7

Some PCB Makers in South China AKM(HK) Amphenol (US) E&E – Guangzhou (HK) Meadville(HK) Meiko (JP) Potechnics(HK) Santis (HK) Viasystems (US) 3CEMS (TW) Finenet (HK)

Benlida(CN) E&E-Kaiping (HK) Glory Faith(HK) Onpress (HK) Universal(HK)

CCTC (CN) Shantou Aoshikang(HK) Compeq – Huizhou (TW) Daisho-Microline (HK) Merix – Huizhou,Huiyang (US) Nippon(HK) Techwise (HK) Weiken(HK)

Meadville – (SYE, DMC) (HK) CMK (JP) Cosmotech (KR) Red Board (HK) Uniwell (HK) World Mastery(HK)

Ellington (HK) Hip Wah (HK) Tat Chun (HK) Viasystems (US) Xingda(HK) Kingtech (HK) Mektec (JP) Multek (US) Zhuhai MLB (CN)

Fast print(CN) Jove(CN) Multi (HK) Sanyo Electric (JP) Sumitomo Deuko (JP) Shennan (CN) Team Power(HK) Topsearch (HK) Unimicron – Plato (TW) Unimicron – SZ (TW) E&E (HK) Welfare(HK) Meadville-OPC (HK) Xingda (HK) Universal(HK)

15


8

PCB Market in HK & South China  The following presented data is sourced from 2008 HKPCA PCB Market Survey.  The industrial analysis is done by collecting data from PCB makers. These companies accounting approximately 25% of the total PCB production in China.  31 PCB companies had returned questionnaires and 4 of them had been interviewed.

17

HK & South China PCB Market

Item

Total

Employee No.

88,175

Sales Revenues (USD M)

4,083

 Based on HKPCA survey of 31 PCB manufacturers

18

Source: HKPCA 2008

9

HK & South China PCB Market Distribution of Plants/Employee/Sales Revenues of Respondent Companies in Guangdong Province

Guangzhou Plant No.: 7 Employee No.: 14,353 Sales Revenues (USD): 717M

*Others in Outside of South China (Include Shanghai, Suzhou, Wuxi, Nanjing) Plant No.:7 Employee No.: 4,400 Sales Revenues (USD): 199M

Huizhou Plant No.: 7 Employee No.: 8,269 Sales Revenues (USD): 386M

*Others in South China (Include Qingyuan,Kaiping, Shunde, Heshan, Shaoguan, Meizhou and Jiangmen) Plant No.: 8 Employee No.: 17,920 Sales Revenues (USD): 625M Dongguan Plant No.: 6 Employee No.: 11,000 Sales Revenues (USD): 579M Zhongshan Plant No.: 6 Employee No.: 14,259 Sales Revenues (USD): 597M

19

Zhuhai Plant No.: 6 Employee No.: 10,200 Sales Revenues (USD): 622M

Shenzhen Plant No.: 8 Employee No.: 7,234 Sales Revenues (USD): 308M

Hong Kong Plant No.: 2 Employee No.: 540 Sales Revenues (USD): 51M

Source: HKPCA 2008

PCB Market in HK & South China Sales Revenue of Respondents Year

Single/Doub Multi-layer le-sided

HDI

IC substrate

RigidFlex

Flex

Others

Total

2007

724 (19%)

2,379 (62.3%)

603 (15.8%)

17 (0.4%)

10 (0.3%)

86 (2.2%)

_

2008

732 (18%)

2,550 (62.5%)

613 (15%)

22 (0.5%)

13 (0.3%)

129 (0.6%)

24 (0.6%)

4,083

2009(F)

721 (17.2%)

2,578 (61.3%)

696 (16.6%)

22 (0.5%)

13 (0.3%)

149 (3.5%)

24 (0.6)

4,203

Growth in 2008

1%

7.2%

1.6%

29.2%

25.8%

59.6%

_

6.9%

-1.5%

1.1%

13.7%

0%

0%

15.1%

_

2.9%

Growth in 2009(F)

3,819

 Based on survey of 31 PCB manufacturers, revenue in USD Million  Multi-layer board (MLB) and HDI achieved 77% share  73% of MLB is 4 to 8 layers 20

Source: HKPCA 2008

10

PCB Market in HK & South China 2007-2009 PCB Sales Revenue in South China M USD 4500 4000 3500

Others Rigid-Flex IC substrate Flex HDI Single/Double-sided Multi-layer

3000 2500 2000 1500 1000 500 0 2007

2008

2009(F) Source: HKPCA 2008

21

PCB Market in HK & South China Distribution of Multilayer Products 2008

>18 LAYERS, 8%

10-16 LAYERS, 19%

2007 10-16 LAYERS 25%

4-8 LAYERS, 73%

>18 LAYERS 8%

4-8 LAYERS 67%

22

Source: HKPCA 2008

11

PCB Market in HK & South China

US$ M

Telecommunication*

Data Processing*

Automotive

Consumer Electronics*

Industrial & Medical

Military

Others

Total

PCB Applications of Respondents

2007

1,403 (36.7%)

751 (19.7%)

546 (14.3%)

421 (11%)

309 (8.1%)

12 (0.3%)

378 (9.9%)

3,819 (100%)

2008

1,460 (35.8%)

827 (20.3%)

514 (12.6%)

527 (12.9%)

389 (9.5%)

71 (1.7%)

295 (8.4%)

4,083 (100%)

2009 (Forecast)

1,555 (37%)

712 (16.9%)

486 (11.6%)

704 (16.8%)

391 (9.3%)

73 (1.7%)

281 (6.7%)

4,203 (100%)

Growth Rate in 2008

4.1%

10.2%

-5.8%

25.3%

26%

493.8%

-22%

6.9%

Growth Rate in 2009

6.5%

-13.9%

-5.5%

33.7%

0.5%

2.6%

-4.7%

2.9%

   

Telecommunication include mobile phones, base station and wireless network equipment, etc. Data Processing include desktops, notebooks and computer peripherals, etc. Consumer Electronics include general domestic electronics products, PDAs, etc. Others include Business Retail 、Photonics and other products Source: HKPCA 2008

23

PCB Market in HK & South China 2008 PCB Production by Application Analysis(By Sales Revenue) Military 2%

Others 7% Communications 36%

Industrial&Medical 9%

Automotive 13%

Consumer Electronics 13% Computers 20% 24

Source: HKPCA 2008

12

PCB Market in HK & South China 2007-2009 PCB Application Analysis (By Sales Revenue) M USD 1800

2007

1600

2008

1400

2009

1200 1000 800 600 400 200 0

Source: HKPCA 2008

25

Technology Capabilities Chinese General Level

Chinese Highest Level

H.K. General Level

3/3

2/2

4/4

2/2

3/3

2/2

3/3

2/2

4/4

2/2

3/3

2/2

4

3

4

3

6

3

10

4

8

4

8

4

Aspect ratio Laser drilling (mil) Mechanical drilling (mil)

8:1

18:1

8:1

18:1

8:1

18:1

4

3

4

4

4

4

10

8

8

8

8

8

Aspect ratio

0.8:1

1:1

0.8:1

1:1

0.8:1

1:1

Descriptions

Line width/spacing

Through Vias

Blind Vias

26

Inner layer (mil/mil) Outer layer (mil/mil) Laser drilling (mil) Mechanical drilling (mil)

H.K. USA&Euro Highest USA&Euro. . Highest Level General Level Level

Source: HKPCA 2008

13

Technology Capabilities USA&Euro. H.K. Highest Highest USA&Euro. Level Level General Level

Chinese General Level

Chinese Highest Level

H.K. General Level

Final Board Thickness(Rigid)(mm)

3

7

1.6

7

1.6

8

Final Board Thickness(Flex)(mm)

--

--

0.2

0.5

0.2

0.5

4/0.33

6/0.33

4/0.33

6/0.33

3/0.33

10/0.33

Registration Tolerance (mil)

7

5

5

1.5

3

1.5

Layer count

8

36

12

42

16

42

18*24

23*35

20*24

24*42

18*24

42*24

--

--

1+N+1

4+N+4

1+N+1

4+N+4

Descriptions

Copper thickness(oz)

Panel Size(inch x inch) Build-Up

Source: HKPCA 2008

27

PCB Production Facility Utilization

K Square feet

Manufacturing Capacity

Manufacturing Output

Facility Utilization

2007

395,791

339,220

86%

2008

420,828

369,759

88%

2009

447,336

369,182

82.5%

Growth Rate in 2008

6.3%

9%

6.3%

-0.2%

Growth Rate in 2009

28

Source: HKPCA 2008

14

Favorable Factors in South China

Expanding Local Market

Skillful Labor

Well resourced Infrastructure

Technology continue to improve

Favorable Factors

29

Top 20 PCB Maker in China USD M

30

Ra n kin g Maker C h in e s e Na me Na t io n a lit y 2 0 0 7 2 0 0 8 （ E） KB PCB Group* 建滔化工集団 HK 1 844 944 健鼎科技 TW 2 Ｔｒｉｐｏｄ 600 786 美維科技 HK 3 Ｍｅａｄｖｉｌｌｅ 530 670 超毅科技 US 4 Multek 570 640 欣興電子 TW 5 Unimicron 610 580 名幸電子 JP 6 Meiko 427 560 瀚宇博徳 TW 7 HannStar 455 557 鴻勝科技 TW 8 Foxc on n 550 550 惠亞 US 9 Viasystems 490 490 寶成企業 TW 10 GBM Group 397 410 滬士電子昆山 TW 11 Wus 361 385 華通電脳 TW 12 Compeq 280 330 紫翔電子 JP 13 Mektek 280 310 奥特斯 Au s t r ia 14 AT&S(China) 260 300 依頼電子 HK 15 Ellington 200 295 維訊柔性電路 US 16 MFLEX 282 292 揖斐電電子 JP 17 Ibiden 272 270 南亜電路 TW 18 Nanya 290 265 金像電子 TW 19 Gold Circuits 290 250 3CEMS (Broadtek) 三希科技 TW ３６０２５０ 20 Taiwan = 1 0 make rs 7988 8884 (N.T. Information Ltd, April, 2009) * KB Grou p total $ 1 ,0 1 4 M Taiwan e se make r sh are 4 8 % Source: NTI Information

15

Production Cost – RMB vs USD

Rate (RMB per USD1)

Exchange Rate Fluctuation of RMB vs USD from Jan 05 to Sep 09

Source: http://finance.yahoo.com

31

Production Cost - Oil

32

Source: www.infoMine.com

16

Production Cost - Gold


33

Production Cost - Silver

34


17

Production Cost - Copper


35

Production Cost - Tin

36


18

Production Cost – China Minimum Wage Minimum wage level in enterprises of Guangdong Province

Class

Region

2007

2008-2009

Minimum Monthly Wage Level (RMB)

Minimum Monthly Wage Level (RMB)

% Increase (2007 to 2009

N/A

Shenzhen (Futian, Luohu, Yantian, Nanshan)

850

1000

17.6%

N/A

Shenzhen (Baoan, Longguan)

750

900

20.0%

Guangzhou

780

860

10.3%

690

770

11.6%

600

670

11.7%

500

580

16.0%

450

530

17.8%

1st Class 2nd Class

Foshan, Dongguan, Zhuhai, Zhongshan 3rd Class Shantou, Huizhou, Jiangmen 4th Class

5th Class

Shaoguan, Heyuan, Meizhou, Shanwei, Yangjiang, , Maoming, Zhaoqing, Qingyuan, Chaozhou, Jieyang, Yunfu Different county-level cities

Source: http://big5.southcn.com , http://www.ldht.org

37

Local China Market Demand • • •

Although China also suffers from the economic downturn, the impact is relatively small due to the high potential of internal market. The continuous development in China and government policy support the local market. The Chinese local customers are getting more and more share in the market place

Key domestic customers Handset:

Huawei, ZTE, Ningbo Bird, Konka, UTStarcom, TCL, HaierGroup

Infrastructure:

Huawei, ZTE, Potevio

Computing:

Lenovo, TongFang

Automotive

GreatWall

Display

BOE, SAV

Consumer

Changhong, Haier, Hisense

38

19

Although Challenging, Still Having Opportunities Although business operation situation is getting tougher due to more environmental regulations, tight power supply, labour shortage, and rapidly rising wages, there are still opportunities and advantages in South China:  Flourishing economy in China has made it the biggest PCB production country in terms of sales revenue.  More than 50% of PCB manufacturers are located in South China  South China has mature development, talents, and well-resourced basic infrastructure.  The implementation of 11th 5-year plan, China’s government has put different policies into force to adjust and upgrade the quality of different industries, as well as PCB industry.  Growing demands for the Chinese electronics products encourage the growth of PCB market in China.

39

























Aoshikang Precision Circuit (Hui Zhou) Co., Ltd.

















Jiangmen Benlida Group



























Carven Circuits Limited







Daisho Microline Ltd. Elec & Eltek Company Ltd. Ellington Printed Circuit Board Limited Shenzhen Fast-Print Circuit Technology Co., Ltd.





 









Finenet Electronic Circuit Ltd.







Jiangmen Glory Faith PCB Co., Ltd.







40

















 

 



















Medical



Military



Industrial

Computer



Regid-Flex

Consumer Electronics

Communication

IC-Substrate

Automotive

Guangzhou Amphenol Sincere Flex Circuits Co., Ltd

Office Retail

AKM Industrial Co. (Pan Yu) Ltd.

Flex Board

HDI

10-16Layer

18 layer above

4-8Layer

Single side

PCB Shops

Double Side

Product Mix and Application Market of Respondent Manufacturers

































































Source: HKPCA 2008

20

Meadville Holdings Ltd.









Merix Corperation









Multek Hong Kong Ltd.









Nippon Circuits Ltd.







Onpress Printed Circuits Ltd.







Potechnics Printed Circuits Ltd.







Red Board Ltd.







Santis Substrates Ltd.













Tat Chun Printed Circuit Board Company Limited



























 



































 

Medical



Military



Industrial





Computer



Communication

Regid-Flex

IC-Substrate

Flex Board

HDI

18 layer above

10-16Layer 

Kingtech PCB Ltd.




Automotive



Office Retail

Shenzhen Jove Enterprise Co., Ltd.

4-8Layer

Single side

PCB Shops

Double Side


































































Source: HKPCA 2008

41

Team Power Circuits Board Ltd







Techwise Circuits Company Limited











Topsearch Printed Circuits (HK) Ltd.









Uniwell Electronic Limited











Viasystems Asia Pacific Co., Ltd.





Wei Ken Industries Company





Welfare Printed Circuits Board Co., Ltd.



















World Mastery Technology Ltd. Zhongshan Xingda

42









Medical

Military

Industrial


Computer

Communication 



























































 

Office Retail

IC-Substrate

Automotive

 

 

Regid-Flex

Flex Board

HDI

18 layer above

10-16Layer

4-8Layer

Double Side

PCB Shops

Single side




 



























 

Source: HKPCA 2008

21

Content Economic and Business Outlook in South China Worldwide PCB Market Overview PCB Market in HK & South China Acknowledgement 43

Acknowledgement 31 respondent companies: AKM Industrial Co. (Pan Yu) Ltd. Aoshikang Precision Circuit (Hui Zhou) Co., Ltd. Carven Circuits Limited Daisho Microline Ltd. Elec & Eltek Company Ltd. Ellington Printed Circuit Board Limited Finenet Electronic Circuit Ltd. Guangzhou Amphenol Sincere Flex Circuits Co., Ltd Jiangmen Benlida Group Jiangmen Glory Faith PCB Co., Ltd. Kingtech PCB Ltd. Meadville Holdings Ltd. Merix Corperation Multek Hong Kong Ltd. Nippon Circuits Ltd. Onpress Printed Circuits Ltd.

44

Potechnics Printed Circuits Ltd. Red Board Ltd. Santis Substrates Ltd. Shenzhen Fast-Print Circuit Technology Co., Ltd. Shenzhen Jove Enterprise Co., Ltd. Tat Chun Printed Circuit Board Company Limited Team Power Circuits Board Ltd Techwise Circuits Company Limited Topsearch Printed Circuits (HK) Ltd. Uniwell Electronic Limited Viasystems Asia Pacific Co., Ltd. Wei Ken Industries Company Welfare Printed Circuits Board Co., Ltd. World Mastery Technology Ltd. Zhongshan Xingda

(Company sequence is in alphabetical order)

22

Acknowledgment 4 Interviewed Companies: Elec & Eltek International (Hong Kong) Ltd. 依利安達國際(香港)有限公司 Meadville Holdings Limited 美維控股有限公司 Multek Hong Kong Ltd. 超毅香港有限公司 Techwise Circuits Company Limited 科惠綫路有限公司

45


Acknowledgment HKPCA Market Information Subcommittee： Mr. Thomas Li (Elec & Eltek International (Hong Kong) Ltd.) Mr. Eddie Tang (Elec & Eltek International (Hong Kong) Ltd.) Mr. Andrew Jor (Isola Asia Pacific (Hong Kong) Ltd.) Mr. Angus Lam (Meadville Holdings Ltd.) Ms. Gloria Sin (Meadville Holdings Ltd.) Ms. Ivy Wong (Multek Hong Kong Ltd.) Ms. Angie Chau (Multek Hong Kong Ltd.) Mr. Kenny Chan (Orbotech Pacific Ltd.) Mr. Ronnie Wong (Process Automation International Ltd) Mr. Kelvin Lau (Process Automation International Ltd) Mr. Eric Fung (Tat Chun Printed Circuit Board Company Limited)

HKPCA Market Survey Consultant： Mr. C T Chung (Multek Hong Kong Ltd.) Mr. Eddie Tang (Elec & Eltek International (Hong Kong) Ltd.)

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23

HKPCA Hong Kong Printed Circuit Association Hong Kong Office Room 2107, Corporation Park, 11 On Lai Street, Shatin, N.T. H.K. Tel: (852) 2155 5099 Fax: (852) 2155 9099 Email: [email protected] Website: www.hkpca.org

Shenzhen Representative Office Room A2, 13/F, SZ Development Bank Nanshan Building, No.171 Taoyuan Road, Nanshan District, SZ, China Tel: (86) 755-86240033 Fax: (86) 755-86240022

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