What Sunshine Global Circuits does

Sunshine Global Circuits (SGC, legal name Shenzhen Mingyang Circuit Technology Co., Ltd. / 深圳明阳电路科技股份有限公司) is a Chinese printed circuit board manufacturer founded in 2001 and listed on the Shenzhen Stock Exchange ChiNext Board (stock code: 300739) since February 2018. The company designs, develops, and manufactures a comprehensive PCB portfolio spanning HDI boards (up to 7-step / 7+N+7), ultra-high-layer-count boards (up to 70 layers), rigid-flex PCBs, heavy copper boards (up to 30oz), high-frequency boards using Megtron/Rogers/PTFE materials, high aspect ratio drilling (up to 40:1), and specialized products including PCB motor stators, embedded SiC/GaN power modules, and semiconductor test (ATE) probe/load/burn-in boards. The company operates four production bases: Shenzhen (HMLV technology center, 20,000 m²), Jiujiang (130,000 m² volume production, 100,000 m² monthly capacity), Zhuhai (manufacturing), and Remscheid Germany (European local customization), with a 2023-acquired facility in Penang Malaysia and 19.38 acres of additional Malaysian land reserved for expansion.

SGC serves more than 1,000 active customers across EMS (Flex, Jabil, Plexus, GPV, Creation Technologies), industrial technology (Siemens, ABB, Johnson Controls, Lenze), medical devices (Medtronic, Beckman Coulter, Varian, Carestream), telecom (Qualcomm, NEC, Adtran), automotive (Ford, John Deere, Nexteer, HL Mando), and audio/visual (Dolby, Extron, Grass Valley) segments. Over 90% of revenue is exported to international markets in Europe, Americas, and Southeast Asia, with direct sales subsidiaries in Plano, Texas (USA) and Chemnitz/Remscheid (Germany) plus an e-commerce portal (sunshinepcbmall.com) for quick-turn orders. The revenue model is B2B custom contract manufacturing with quote-based pricing per customer specification, supported by a 5-day quick-turn prototype turnaround and 3-week standard mass production lead time.

The company's go-to-market combines enterprise direct sales with technical application engineering, e-commerce order intake, and global exhibitions (CPCA, JPCA, TPCA, Electronica). The company finished 2024 with 2,500+ employees, RMB 3,455.99 million in total assets, and ranks 22nd among domestic PCB companies and 42nd in comprehensive PCB rankings by CPCA in 2024. In 2024-2025, the company established a dedicated AI Business Division targeting AI server and data center infrastructure PCBs, reflecting a strategic pivot toward AI/HPC, semiconductor testing, power electronics, and motor stator substrates as priority growth segments.

Name

Sunshine Global Circuits

Legal name

Shenzhen Mingyang Circuit Technology Co., Ltd. (深圳明阳电路科技股份有限公司)

Website

https://sunshinepcb.com

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Sunshine Global Circuits (SGC) is a Chinese PCB manufacturer serving 1,000+ active customers globally with HDI, multi-layer, rigid-flex, heavy copper, and ATE semiconductor test boards across EMS, industrial, medical, telecom, automotive, and AI data center segments.

Ownership category

akta.pro rank

Product category

Printed Circuit Board (PCB) Manufacturing

NAICS

Bare Printed Circuit Board Manufacturing (334412)

SIC

Printed Circuit Boards (3672)

akta.pro primary industry

PCB Fabrication (Rigid PCBs) (HDAHAOAG)

akta.pro secondary industries

PCB Fabrication (Flex & Rigid-Flex PCBs) (HDAHAOAH), Industrial PCB & Substrate Components (Bare PCBs, rigid-flex, ceramic substrates, thick-film) (IMAGAJAM)

Keywords

• Printed circuit board manufacturing
• HDI PCB fabrication
• Heavy copper PCBs
• Semiconductor test PCBs
• PCB motor stators

Headquarters

HQ city

Shenzhen

HQ country

China

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. PCB Product Sales: Core revenue from design, R&D and manufacturing of PCB products per customer specifications, sold primarily to export markets in Europe, Americas, and Southeast Asia. Revenue generated through direct sales, sales subsidiaries, and partnerships.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Sunshine Global Circuits is a PCB manufacturer that designs, R&Ds, and fabricates custom printed circuit boards to customer specifications. The portfolio covers HDI (7-step, up to 7+N+7 layers), multi-layer (up to 70 layers), rigid-flex, heavy copper (up to 30oz), metal core, high-frequency, flexible boards, and specialized PCB motor stators and semiconductor test (ATE) PCBs. Products are sold primarily to export markets in Europe, Americas, and Southeast Asia through direct enterprise sales, sales subsidiaries, and an e-commerce quoting portal.

Product overview

Sunshine Global Circuits (明阳电路) is a PCB manufacturer offering a comprehensive portfolio of printed circuit board solutions. The product lineup includes AI Data Center PCB for AI computing infrastructure; Data Communication PCB for networking equipment; ATE (Semiconductor Test PCB) for semiconductor manufacturing testing; Robot PCB for industrial automation; Motor PCB Stator as an innovative PCB-based alternative to traditional motor windings; and Thermal Management & High Current PCB for power electronics applications. The company operates three manufacturing bases in Shenzhen, Jiujiang (China), and Germany, plus sales offices in the USA and Malaysia, serving global markets across Europe, Americas, and Southeast Asia.

Differentiator

Problem solved

Functional benefit

Products and services

• AI Data Center PCB High-layer-count, high-density PCB solutions for AI servers and data center infrastructure, including AI acceleration cards (GPU), heterogeneous computing servers, optical modules, and high-power DC planar transformers. Supports 7-step HDI (7+N+7), M7 materials, 112G SerDes, PAM4, PCIe 6.0/7.0 specifications.
• Data Communication PCB PCB solutions for data communication equipment including communication backplanes, high-capacity switches, active antennas, phased array radar boards, communication power modules, and base station cloud servers. Supports up to 70 layers, RF/microwave materials including Megtron, Rogers, PTFE, and hybrid constructions for 112G SerDes applications.
• ATE (Semiconductor Test PCB) Semiconductor testing PCB solutions including probe cards, load boards, and burn-in boards with high layer counts (up to 70 layers), high aspect ratios (up to 40:1), and tight warpage control for semiconductor manufacturing testing applications.
• Robot PCB

Quantifiable outcome

• Quick-turn delivery: 5 working days for prototype PCBs
• +11 more outcomes

Named customers44 records

Segments8 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Two partnerships are on record, tiered core.

• Vision Industries Sdn. Bhd. (acquired and renamed Sunshine PCB Penang)coreStrategic or Co-development Partner · 1 January 2023SGC acquired Malaysian PCB company Vision Industries in 2023, renamed Sunshine PCB (Penang) Sdn Bhd. The facility was upgraded to produce advanced PCBs up to 16 layers, RF microwave, and hybrid constructions. In 2024, the company purchased 19.38 acres of land in Penang Bertam Industrial Park for future capacity expansion, demonstrating significant commitment to Southeast Asian market.
• Rinde PCB factory (Germany)coreStrategic or Co-development Partner · 1 January 2012SGC acquired the German Rinde factory (originally established 1966) in Remscheid, Germany in 2012. The factory provides 'Made in Germany' quality PCB manufacturing for 2-20 layer boards, high-density, and rigid-flex products, serving the European market with local customization capability.

Scale indicators11 records

Recent moves13 records

Expansion highlights6 records

Direct peers

• Shennan Circuits: China-listed PCB manufacturer (002916.SZ) and clear domestic leader in high-layer-count and substrate-like PCBs for AI servers and telecom backbones. SGC competes head-on for advanced HDI and high-layer-count sockets but at a smaller scale and lower CPCA ranking.
• Tripod Technology: Taiwan-listed PCB maker with HDI, multi-layer, and rigid-flex capabilities serving consumer electronics, telecom, and automotive. Comparable on technology tier and customer segments, though primarily Taiwan- and China-based manufacturing.
• Kinwong Electronic: Chinese PCB manufacturer (603228.SH) with broad multi-layer, HDI, rigid-flex, and metal-core product lines serving automotive, consumer, and industrial customers. Similar size tier and product breadth to SGC.
• Suntak Technology: Chinese PCB maker (300476.SZ) with HDI, multi-layer, rigid-flex, and heavy-copper capabilities serving AI/datacom, automotive, and consumer. Closely comparable technology profile and customer base to SGC's Jiujiang mass-production offering.
• WUS Printed Circuit: Shenzhen-based HDI and multi-layer PCB specialist with significant exports to EMS customers in Europe and the US. Directly comparable on product mix (HDI, rigid, rigid-flex) and go-to-market (export-led, EMS-channel).
• Founder PCB: Subsidiary of Founder Technology focusing on multi-layer and HDI PCBs for communications and industrial customers. Competes with SGC in the mid-tier domestic PCB market.

Broad incumbents

• TTM Technologies: US-headquartered PCB manufacturer with global footprint serving aerospace/defense, automotive, computing, and networking. Overlaps with SGC on data-comm and industrial PCB but at much larger scale and broader portfolio.
• Unimicron Technology: Taiwanese PCB and IC substrate leader with HDI, rigid-flex, and advanced substrate capabilities. A much larger incumbent that competes with SGC in advanced multi-layer and HDI sockets, particularly for AI/HPC.
• AT&S: Austrian PCB and IC substrate leader with advanced HDI, substrate-like, and high-frequency capabilities across automotive, industrial, and AI data-center applications. A larger and more diversified incumbent operating in overlapping premium PCB segments.
• Zhen Ding Technology: Taiwanese flex PCB leader and global PCB incumbent with strong rigid-flex and HDI capabilities. Competes with SGC's rigid-flex offering, particularly for smartphone and consumer electronics applications, though at significantly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries5 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 Sunshine Global Circuits