Magnus

What Magnus does

Guanghe Technology (广合科技, operating under the international brand Magnus) is a high-end printed circuit board (PCB) manufacturer specializing in high-speed, high-frequency, and high-density interconnect (HDI) substrates for AI servers, data centers, 5G communications, and automotive electronics. Founded in 2002 in Guangzhou, the company holds dual listings on the Shenzhen Stock Exchange (001389.SZ, April 2024) and the Hong Kong Stock Exchange (01989.HK, March 2026). According to Frost & Sullivan, the company ranks No. 3 globally and No. 1 in mainland China among computing server PCB manufacturers by 2022–2024 cumulative revenue, with products supplied to 8 of the top-10 global server manufacturers.

The company's core technical capabilities center on 14+ layer multi-layer boards, high aspect ratios (10:1 to 16:1), back-drilling, resin plug via + POFV design, mixed-pressure Ultra Low Loss materials, and LDI exposure with vacuum etching for precise impedance control. Its proprietary platforms include PCIe 5.0 server motherboards for Intel Eagle Stream and AMD Genoa, HDI optical module boards, rigid-flex SSD storage boards, and AI high-speed switching backplanes. The company holds 30+ granted Chinese invention patents and participates in national and IEC standards-setting (IEC/TC91/WG4 and WG10). R&D investment reached RMB 2.8 billion in 2025 (5.1% of revenue), and the company operates a CNAS-accredited testing center (L21463).

Guanghe operates four production bases across Guangzhou (headquarters), Dongguan, Huangshi (Hubei), and Thailand (Prachinburi), with a total of 4,998 employees as of 2025. Revenue is generated through project-based B2B contracts with global server OEMs, EMS providers, and communications equipment manufacturers, with dedicated account management for key strategic customers. Annual revenue reached RMB 54.85 billion in 2024. The company sells exclusively through direct enterprise sales, with international offices in Hong Kong (Guanghe International) and San Jose (Delton Technology Inc). Application segments include data center/cloud computing (primary), 5G communications, automotive electronics, and industrial/terminal applications. Named customers include Inspur, Lenovo, ZTE, Foxconn, Jabil, Compal, HUARONG/USI, Huaqin, Yunjian, xFusion, DENSO WAVE, and NovaStar.

Name

Magnus

Legal name

球友会手机官方网站入口-球友会（中国）

Website

https://0xmagnus.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

Magnus (广合科技) is a high-end PCB manufacturer specializing in high-speed, high-frequency, and HDI substrates for AI servers, data centers, and 5G communications, ranked No. 3 globally among server PCB makers and serving 8 of the top-10 global server manufacturers.

Ownership category

akta.pro rank

Product category

Server PCB Manufacturing

NAICS

Bare Printed Circuit Board Manufacturing (334412), Printed Circuit Assembly (Electronic Assembly) Manufacturing (334418), Computer and Electronic Product Manufacturing (334)

SIC

Printed Circuit Boards (3672), Electronic Components & Accessories (3670)

akta.pro primary industry

PCB Fabrication (Flex & Rigid-Flex PCBs) (HDAHAOAH)

akta.pro secondary industries

PCB Assembly (PCBA/EMS) (HDAHAOAI), Industrial PCB & Substrate Components (Bare PCBs, rigid-flex, ceramic substrates, thick-film) (IMAGAJAM)

Keywords

• High-speed PCB manufacturing
• Server circuit boards
• AI server PCBs
• HDI multilayer boards
• Data center PCB solutions

Headquarters

HQ city

Palo Alto

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Technology or R&D, Infrastructure, Operations, Marketing or Sales, Others

Revenue model

1. 高端PCB产品制造与销售: 广合科技 generates revenue primarily through the manufacture and sale of high-end PCBs. The company focuses on high-speed, high-frequency, and HDI PCBs for data centers, AI servers, 5G communications, automotive electronics, and industrial applications. Revenue is project-based with custom manufacturing for strategic customers, featuring long-term contracts, annual supplier evaluations, and ongoing order flows from established OEM partnerships.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Guanghe Technology (Magnus) is a high-end PCB manufacturer that produces high-speed, high-frequency, and high-density interconnect (HDI) printed circuit boards for data center servers, AI servers, 5G communications, automotive electronics, and industrial applications. The company designs and mass-produces multilayer PCBs (12-14+ layers), high aspect ratio boards, rigid-flex boards, HDI modules, and storage backplanes for global server OEMs and EMS providers. Its operations span four manufacturing bases in Guangzhou, Dongguan, Huangshi (Hubei), and Thailand, with a US sales subsidiary (Delton Technology Inc) and Hong Kong international office.

Product overview

广合科技 (Magnus/Guanghe Technology) is a leading high-end PCB (printed circuit board) manufacturer specializing in high-speed, high-frequency circuit boards for AI servers and data centers. The company offers a comprehensive portfolio organized into four core product categories: (1) Data Center PCB including server boards, switch boards, storage backplanes, optical modules, and SSD storage boards; (2) AI Server PCB designed for artificial intelligence computing applications; (3) Communication PCB including AAU modules and RF transceivers for 5G networks; and (4) Application Terminal PCB covering automotive electronics, 3D printers, and mini LED displays. Founded in 2002, the company went public on Shenzhen Stock Exchange (001389.SZ) in 2024 and Hong Kong Stock Exchange (01989.HK) in 2026, serving global server manufacturers with a workforce of 4,998 employees across facilities in Guangzhou, Dongguan, Huangshi, and Thailand.

Differentiator

Problem solved

Functional benefit

Products and services

• Server PCB Board (服务器PCB板) PCIe 5.0 server motherboard PCBs supporting Intel Eagle Stream and AMD Genoa platforms, featuring 14+ layers, high aspect ratios, minimum 0.2mm apertures, back-drilling D+8mil design, LDI exposure, vacuum etching, and 16GHz insertion loss monitoring for data center applications.
• AI Intelligent Server Motherboard (AI智能服务器主板) High-performance AI server motherboard PCB for artificial intelligence computing applications, featuring advanced processing capabilities and high-speed signal transmission for AI training and inference workloads.
• Switch Board (交换机板) High-layer-count PCB (12+ layers) designed for data center switches, featuring high aspect ratios (9:1+), ultra-low loss materials, back-drilling, resin plugging, and POFV design for high-speed signal transmission in 5G and data center applications.
• High-Speed Server Storage (高速服务器用存储器) High-density storage module PCB with high aspect ratios (10:1 to 16:1), low loss materials, back-drilling, and resin plugging for high-speed signal insertion loss control in big data server applications.
• Hard Disk Storage Backplane (硬盘存储背板) Storage array backplane PCB for data center applications with thick boards, high layer counts, multiple HDD connection ports, high-speed materials, back-drilling with resin plugging, and press-fit hole technology.
• Optical Module Board (光模块板) High-speed optical transmission module PCB with HDI structure, small form factor, using Very Low Loss materials for high-speed signal transmission in AI server applications.
• SSD Storage Board (SSD存储板) High-density SSD product PCB using rigid-flex board design with 3D stacking packaging, 12+ layers, 2-4 flexible board layers, supporting AI and HPC data storage requirements.
• AAU Module Board (AAU模块板) Active Antenna Unit module PCB for 5G base stations featuring highly integrated design, high reliability, high transmission rates, and thermal management. Features 14+ layers, high-speed materials, POFV, back-drilling, and embedded copper blocks.
• RF Transceiver Board (射频收发板) RF transceiver module PCB for 5G communication networks with hydrocarbon or PTFE substrates, 2-8 layers, fine line accuracy requirements, and chemical nickel gold surface treatment.
• Automotive Electronics PCB Board (汽车电子PCB板) PCB for automotive electronic systems including in-vehicle infotainment, body systems, safety, powertrain, and chassis. Features reliable performance with anti-CAF, voltage resistance, thermal resistance, and thermal shock capabilities.
• Mini LED Display PCB Mini LED display technology PCB using 100μm scale LED chips for high pixel density displays, with BT materials for dimensional stability, HDI design, 50μm small pitch, and high reflectivity technology.
• 3D Printer PCB (3D打印机PCB) PCB for 3D printers with high precision, stability, diverse interfaces, efficient heat dissipation, anti-interference, and high protection capabilities. Features up to 10 layers, through-hole design, FR4 materials, and thick gold (4uinch) for laser welding.
• IoT Half-Hole Module Board (物联网半孔模块板) Half-hole PCB used for modular PCB applications including RF, Bluetooth, WiFi, (2G/3G/4G/5G) modules, and positioning modules. Applied in communications, IoT, automotive electronics, industrial control, and military applications with strict requirements for half-hole diameter control and hole ring design.
• Ultra-Large-Size Four-Way Server Motherboard (超大尺寸四路服务器主板) Four-way server motherboard PCB including 4 CPUs, each supporting two rows of 12 memory slots, with at least 2 standard X8 PCIe slots and 6 standard X16 PCIe slots, expandable via high-speed cables for PCIe expansion boards.

Quantifiable outcome

• Annual revenue of RMB 54.85 billion (2024); 11.02% YoY growth in 2023 with 48.29% net profit growth
• +4 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature11 records

Partnerships

Nine partnerships are on record, tiered important, core and minor.

• 东莞职业技术学院importantStrategic or Co-development Partner · 5 July 2026东莞职院与泰国广合共建「东莞职业技术学院-岭南工匠学院泰国实习基地」，为泰国广合输送技能人才，开展订单班培养、实习实践、岗位就业等多元化培养模式。
• 泰国罗勇技术学院importantStrategic or Co-development Partner · 4 July 2026泰国广合受邀参加在泰国罗勇技术学院举行的中泰职业教育交流活动，围绕职业教育合作、订单班建设、人才培养及产教融合展开深入交流。
• 泰国呵勒府/甲民武里职业院校importantStrategic or Co-development Partner · 21 May 2026泰国广合先后与呵勒府、甲民武里两个地区的职业院校达成校企合作并完成签约，聚焦人才培养、实践实训、课程共建、定向输送等核心领域展开深度协作。
• 广东工业大学coreStrategic or Co-development Partner · 29 April 2026广合科技与广东工业大学共建PCB产业融合学院，设立广合科技奖学金（深造奖学金、杰出管理奖、杰出教学奖、实习奖学金、杰出奖学金），开展实习就业、产学研课题合作、导师进校园等深度协作。
• 燃气公司（党建红联共建）minorGTM or Marketing Partner · 1 January 2026广州广合党总支与燃气公司常态化开展党建红联共建活动，打破单位壁垒、整合优势资源，构建资源共享、优势互补的党建新格局。
• 招商银行（党建红联共建）minorGTM or Marketing Partner · 1 January 2026广州广合党总支与招商银行等多家单位开展党建红联共建，打破单位壁垒、整合优势资源，构建资源共享、优势互补、党建互学、业务互助、共同提升的党建新格局。
• 华南理工大学coreStrategic or Co-development Partner · 12 September 2025广合科技与华南理工大学正式达成战略合作，共建「AI高算力印制电路板智能制造联合实验室」，聚焦AI高算力PCB高精度加工及智能检测、环保与可持续发展制造、智能化生产管理等四大核心方向。广合科技核心管理层多毕业于华南理工大学。
• 中兴通讯coreStrategic or Co-development Partner · 20 March 2025广合科技与中兴通讯启动「合兴」联合行动，双方就交付能力提升、技术能力提升、成本降低等制定详细赋能计划及目标，在服务器、5G基站、低空经济等领域展开深度合作。广合科技荣获中兴通讯2025年度最佳综合绩效奖及金牌客户经理奖。
• 电子科技大学coreStrategic or Co-development Partner · 1 January 2023广合科技与电子科技大学开展产学研深度合作，联合研发《AI服务器超高阶高多层复合基板关键技术及产业化》项目，荣获2025年中国电子学会科技进步奖三等奖，已获授权发明专利12件，制定国家/行业标准3项。

Scale indicators13 records

Recent moves10 records

Expansion highlights14 records

Direct peers

• Zhen Ding Technology (臻鼎科技): Zhen Ding (4958.TW) is a Taiwan-based global PCB leader with significant flex and rigid-flex PCB production serving computing, server, and AI customers. Comparable in high-density interconnect and rigid-flex technology stack relevant to Guanghe's SSD storage products.
• Gold Circuit Electronics (金像电子): Gold Circuit Electronics (5469.TW) is a Taiwan-based PCB manufacturer specializing in high-layer-count, high-speed PCBs for servers, networking, and computing. Direct competitor for server OEM qualifications with similar high-density PCB technology stack.
• Tripod Technology (健鼎科技): Tripod Technology (3044.TW) is a Taiwan-based PCB manufacturer with a substantial multi-layer PCB business for computing and server applications. Comparable high-volume, high-layer-count PCB manufacturing for global computing OEMs.
• Victory Giant Technology (胜宏科技): Victory Giant (300476.SZ) is a Chinese PCB maker that has scaled rapidly into high-layer-count server and AI compute PCBs. Directly competes with Guanghe for Chinese hyperscaler and OEM qualifications in HDI and high-speed server boards.
• Unimicron Technology (欣兴电子): Unimicron (3037.TW) is a Taiwan-based leading PCB and IC substrate manufacturer with major server, AI compute, and HDI exposure. Competes with Guanghe for global server OEM qualifications and is one of the largest-scale PCB makers globally.
• Shennan Circuits (深南电路): Shennan Circuits (002916.SZ) is the largest Chinese PCB maker with substantial server/communications PCB business serving similar hyperscaler, telecom OEM, and AI compute customers. Most directly comparable in terms of geography, customer overlap, and product portfolio (multi-layer, HDI, substrate-like PCBs) to Guanghe.
• Compeq Electronics (华通电脑): Compeq (2313.TW) is a Taiwan-based PCB maker with significant server, networking, and computing PCB business. Comparable in multi-layer PCB manufacturing for global computing OEMs and AI server platforms.

Broad incumbents

• Ibiden: Ibiden (4062.T) is a Japan-based global leader in IC substrates and advanced PCBs. Competes for high-end computing and server PCB programs but with stronger substrate adjacency and broader advanced-packaging portfolio.
• TTM Technologies: TTM Technologies (NASDAQ: TTMI) is a major US-headquartered PCB manufacturer with significant data center, networking, and aerospace PCB business. Overlaps with Guanghe in high-end server/networking PCBs but serves primarily North American customers.
• AT&S (Austria Technologie & Systemtechnik): AT&S is an Austrian-headquartered global PCB and IC substrate leader with advanced high-end PCB capabilities for AI servers and data centers. Competes in high-end server PCB but with broader portfolio across substrates, automotive, and industrial.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/0xmagnus
• Facebookfacebook.com/MagnusCollective
• LinkedInlinkedin.com/company/magnus-collective

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Magnus