Thailand's PCB boom has names behind it. This article maps who owns the 39 PCB plants in the MPBxChange register: the company that holds each Thai entity, the group above it, the stock exchange where that group is listed, and the joint ventures. It draws on the parents' own stock exchange filings and the Thai company register. Only companies are named. Every row links to the plant's page, where each fact carries its source. Passages marked Analysis are our own reading.
Key points
- 33 of the 39 plants belong to groups listed on a stock exchange. 6 belong to unlisted or privately held groups.
- Shenzhen Stock Exchange: 13; Taiwan Stock Exchange: 9; Shanghai Stock Exchange: 7; Tokyo Stock Exchange: 3; Hong Kong Stock Exchange: 3; Stock Exchange of Thailand: 1. A group listed in two places is counted under both.
- 17 plants have a holding company in Singapore, Hong Kong or another third location in their ownership chain.
- Three plants have more than one outside shareholder group: Peng Shen Technology, Sundell Technology and Advanced Interconnection Technology.
- The owners have published plans for new capacity from 2026 to 2028, from AI server boards to automotive, communications and flexible boards.
The ownership map
| Plant | Held by | Parent group | Parent listing |
|---|---|---|---|
| AKM Meadville Electronics (Thailand) | AKM Meadville Electronics (Xiamen) Co., Ltd. (安捷利美维电子（厦门）有限责任公司)[1] | AKM Meadville Electronics (Xiamen) Co., Ltd. | unlisted |
| Advanced Interconnection Technology (AITC) · SVI and CCTC | SVI Public Company Limited 75%[2]; China Circuit Technology (Shantou) Corporation (CCTC, 汕头超声印制板公司) 25%[2] | SVI Public Company Limited | unlisted since 22 May 2026 (voluntary delisting from SET) |
| Allfavor Circuit (Thailand) | Jiangsu Allfavor Intelligent Circuits Technology Co., Ltd. (江苏本川智能电路科技股份有限公司) 99%[3]; 本川科技（香港）有限公司 (wholly owned by the parent) 1%[3] | Jiangsu Allfavor Intelligent Circuits Technology Co., Ltd. | SZSE 300964 (ChiNext) |
| Aohong Electronics (Thailand) | ELITE PROSPECT SINGAPORE PTE. LTD. (新加坡昇耀) 99.98%[4]; 昇耀國際貿易有限公司 (ELITE PROSPECT TRADING LIMITED, Hong Kong) 0.02%[4] | Changzhou Aohong Electronics Co., Ltd. | SSE 605058 |
| Apcb Electronics (Thailand) · Victory Giant Technology | Victory Giant Technology (HuiZhou) Co., Ltd. (胜宏科技) 100%[5] | Victory Giant Technology (HuiZhou) Co., Ltd. | SZSE 300476; HKEX 2476 (H shares listed 21 April 2026) |
| Apex Circuit (Thailand) | Apex International Co., Ltd. (泰鼎國際股份有限公司, Cayman Islands) 99.69%[6] | Apex International Co., Ltd. | TWSE 4927 (泰鼎-KY) |
| Autech (Thailand) | not published | not published | not published |
| CMK Corporation (Thailand) | CMK Corporation (日本シイエムケイ株式会社) 100%[7] | CMK Corporation | TSE 6958 |
| Circuit Industries | Thai shareholders (not named; the company describes itself as 100% Thai-owned) 100%[8] | Circuit Industries Co., Ltd. (independent; no parent company identified) | unlisted (private limited company) |
| Compeq (Thailand) | Compeq Manufacturing Co., Ltd. (華通電腦股份有限公司) 100%[9] | Compeq Manufacturing Co., Ltd. | TWSE 2313 |
| Draco PCB (Chin Poon Electronics (Thailand)) | Chin Poon Industrial Co., Ltd. (敬鵬工業股份有限公司) 99.89%[10]; other shareholders 0.11%[10] | Chin Poon Industrial Co., Ltd. | TWSE 2355 (敬鵬) |
| Dynamic Technology Manufacturing (Thailand) · Dynamic Electronics | Dynamic Electronics Co., Ltd. (超颖电子电路股份有限公司) 100%[11] | Dynamic Holding (定穎投控) | TWSE 3715; intermediate parent Dynamic Electronics Co., Ltd. is listed on SSE 603175 |
| Elec & Eltek (Thailand) | Elec & Eltek group (Elec & Eltek International Company Limited group)[12] | Kingboard Holdings Limited | HKEX 0148 |
| First Quality Circuit (Sihui Fuji Electronics) | Sihui Fuji Electronics Technology Co., Ltd. (四会富仕电子科技股份有限公司) 56.73%[13]; ELECBRIGHT SOLUTIONS PTE. LTD (Singapore, wholly owned by the parent) 42.7%[13]; 四会富仕电子（香港）有限公司 (Hong Kong subsidiary of the parent) 0.57%[13] | Sihui Fuji Electronics Technology Co., Ltd. | SZSE 300852 |
| Fujikura Electronics (Thailand) | Fujikura Printed Circuits Ltd. (FPCL) 100%[14]; Fujikura Ltd. 100%[15] | Fujikura Ltd. | TSE Prime 5803 |
| Gold Circuit Electronics (Thailand) | Gold Circuit Electronics Ltd. 59.18%[16]; Goldex Holding Limited (Samoa; wholly owned by Gold Circuit Electronics Ltd.) 40.82%[16] | Gold Circuit Electronics Ltd. | TWSE 2368 |
| Guanghe Technology (Thailand) · Delton | Delton Technology (Guangzhou) Inc. 100%[17] | Delton Technology (Guangzhou) Inc. | SZSE 001389; HKEX 01989 |
| IFOUND PCB (Thailand) | Founder Technology Group Co., Ltd. 100%[18] | Founder Technology Group Co., Ltd. | SSE 600601 |
| KCE Electronics | Listed itself on the Stock Exchange of Thailand (KCE) | KCE Electronics Public Company Limited | SET KCE |
| Kinwong Electronic (Thailand) | Shenzhen Kinwong Electronic Co., Ltd. 100%[19] | Shenzhen Kinwong Electronic Co., Ltd. | SSE 603228 |
| Mektec Manufacturing (Thailand) | MEKTEC CORPORATION (formerly Nippon Mektron, Ltd.), NOK group[20] | NOK CORPORATION | TSE 7240 |
| Multi-Fineline Electronics (Thailand) · MFLEX | Suzhou Dongshan Precision Manufacturing Co., Ltd. (DSBJ)[21] | Suzhou Dongshan Precision Manufacturing Co., Ltd. (DSBJ) | SZSE 002384 |
| Olympic Circuit (Thailand) | OLYMPIC CIRCUIT PTE. LIMITED (Singapore subsidiary of Olympic Circuit Technology Co., Ltd.) 99.95%[22]; 世运线路版有限公司 (Olympic Country Company Limited, Hong Kong subsidiary of Olympic Circuit Technology Co., Ltd.) 0.05%[22] | Olympic Circuit Technology Co., Ltd. | SSE 603920 |
| Peng Shen Technology (Thailand) · Zhen Ding Tech | Avary Holding (Shenzhen) Co., Ltd. 72.25%[23]; AROC (company named in Avary's filing; not a related party of Avary) 17.65%[23]; Saha Group 10%[23] | Zhen Ding Technology Holding Limited | TWSE 4958 |
| QuanTech Circuit (Thailand) | Huizhou Zhongjing Electronics Technology Co., Ltd. (惠州中京电子科技股份有限公司, CEE) 99.5%[24]; Huizhou Zhongjing Electronics Technology Co., Ltd. through wholly owned subsidiaries (惠州中京电子科技有限公司 and 香港中京电子科技有限公司, 0.25% each per the June 2023 filing) 0.5%[24] | Huizhou Zhongjing Electronics Technology Co., Ltd. (CEE) | SZSE 002579 |
| STARTEAM GLOBAL (Prachinburi STARTEAM, PST) | STARTEAM Global Holding Ltd. (group parent company)[25] | STARTEAM Global Holding Ltd. | not published |
| SYKC Circuit (Thailand) | Shanghai YKC Corporation (上海山崎电路板有限公司)[26] | Shanghai YKC Corporation | not published |
| Shengyi Electronics (Thailand) | 生益电子（国际）有限公司 (Shengyi Electronics (International), wholly owned subsidiary of Shengyi Electronics Co., Ltd.) 70%[27]; 生益电子（海外）有限公司 (Shengyi Electronics (Overseas), wholly owned grandchild company of Shengyi Electronics Co., Ltd.) 30%[27] | Shengyi Technology Co., Ltd. | SSE 600183 |
| Shennan Circuits (Thailand) | Shennan Circuits Co., Ltd. 100%[28] | Shennan Circuits Co., Ltd. | SZSE 002916 |
| Shye Feng | Apex International Co., Ltd. 99.99%[6] | Apex International Co., Ltd. | TWSE 4927 |
| Sundell Technology · Aoshikang (ASK PCB) | Aoshikang Technology Co., Ltd. (奥士康科技股份有限公司) 85.1%[29]; 名幸电子香港有限公司 (Hong Kong subsidiary of Meiko Electronics Co., Ltd.) 14.9%[30] | Aoshikang Technology Co., Ltd. | SZSE 002913 |
| Suntak Technology (Thailand) | Suntak Technology Co., Ltd. (崇达技术股份有限公司) 100%[31] | Suntak Technology Co., Ltd. | SZSE 002815 |
| Taihua Electronics Technology · Ellington | Guangdong Ellington Electronics Technology Co., Ltd. (广东依顿电子科技股份有限公司) 100%[32]; 四川九洲投资控股集团有限公司 (controlling shareholder of Ellington) 30%[33] | Guangdong Ellington Electronics Technology Co., Ltd. | SSE 603328 |
| Thai Kun Circuit (ManKun Technology Thailand) | Ji'an Mankun Technology Co., Ltd. (吉安满坤科技股份有限公司) 99.99%[34] | Ji'an Mankun Technology Co., Ltd. | SZSE 301132 |
| Unimicron (Thailand) | Unimicron Technology Corporation (欣興電子股份有限公司) 100%[35] | Unimicron Technology Corporation | TWSE 3037 |
| Unitech PCB (Thailand) | Unitech PCB (燿華電子) 100%[36] | Unitech PCB (燿華電子) | TWSE 2367 |
| WTT Electronics (Zhongfu Circuit · JOVE PCB) | Shenzhen Jove Enterprise Limited (深圳中富电路股份有限公司) 100%[37] | Shenzhen Jove Enterprise Limited | SZSE ChiNext 300814 |
| WUS Printed Circuit (Thailand) | WUS Printed Circuit (Kunshan) Co., Ltd. (沪士电子股份有限公司) 99%[38] | WUS Printed Circuit (Kunshan) Co., Ltd. | SZSE 002463 |
| Well Tek Electronics · Welgao | Jiangxi Welgao Electronics Co., Ltd. (江西威尔高电子股份有限公司) 100%[39] | Jiangxi Welgao Electronics Co., Ltd. | SZSE ChiNext 301251 |
Source: the parents' filings and the Thai company register, as cited in each row; the plant pages list every source. Shares are the direct holding named in the filing; the plant page shows the full chain.
Where the parents are listed
| Exchange | Plants | Plants in the register |
|---|---|---|
| Shenzhen Stock Exchange | 13 | Allfavor Circuit (Thailand), Apcb Electronics (Thailand) · Victory Giant Technology, First Quality Circuit (Sihui Fuji Electronics), Guanghe Technology (Thailand) · Delton, Multi-Fineline Electronics (Thailand) · MFLEX, QuanTech Circuit (Thailand), Shennan Circuits (Thailand), Sundell Technology · Aoshikang (ASK PCB), Suntak Technology (Thailand), Thai Kun Circuit (ManKun Technology Thailand), WTT Electronics (Zhongfu Circuit · JOVE PCB), WUS Printed Circuit (Thailand), Well Tek Electronics · Welgao |
| Taiwan Stock Exchange | 9 | Apex Circuit (Thailand), Compeq (Thailand), Draco PCB (Chin Poon Electronics (Thailand)), Dynamic Technology Manufacturing (Thailand) · Dynamic Electronics, Gold Circuit Electronics (Thailand), Peng Shen Technology (Thailand) · Zhen Ding Tech, Shye Feng, Unimicron (Thailand), Unitech PCB (Thailand) |
| Shanghai Stock Exchange | 7 | Aohong Electronics (Thailand), Dynamic Technology Manufacturing (Thailand) · Dynamic Electronics, IFOUND PCB (Thailand), Kinwong Electronic (Thailand), Olympic Circuit (Thailand), Shengyi Electronics (Thailand), Taihua Electronics Technology · Ellington |
| Tokyo Stock Exchange | 3 | CMK Corporation (Thailand), Fujikura Electronics (Thailand), Mektec Manufacturing (Thailand) |
| Hong Kong Stock Exchange | 3 | Apcb Electronics (Thailand) · Victory Giant Technology, Elec & Eltek (Thailand), Guanghe Technology (Thailand) · Delton |
| Stock Exchange of Thailand | 1 | KCE Electronics |
| Unlisted or private | 6 | AKM Meadville Electronics (Thailand), Advanced Interconnection Technology (AITC) · SVI and CCTC, Autech (Thailand), Circuit Industries, STARTEAM GLOBAL (Prachinburi STARTEAM, PST), SYKC Circuit (Thailand) |
Counted from the parent listing in the table above. A group listed in two places, such as Victory Giant in Shenzhen and Hong Kong, appears under both.
Analysis. Most of the capital behind Thailand's new plants answers to shareholders in Shenzhen, Shanghai and Taipei. For buyers that is useful: a listed parent publishes audited accounts, investment plans and the progress of its Thai project every half year, so a supplier's staying power can be checked from public filings before an order is placed.
How the plants are held
Many listed parents hold their Thai plant through an intermediate company. 17 of the 39 plants have a holding company in Singapore, Hong Kong or another third location in the chain. Some examples from the filings:
- Aohong Electronics (Thailand): ELITE PROSPECT SINGAPORE PTE. LTD. (新加坡昇耀) 99.98% (wholly owned by 常州海弘电子有限公司, itself wholly owned by Changzhou Aohong Electronics)[4]; 昇耀國際貿易有限公司 (ELITE PROSPECT TRADING LIMITED, Hong Kong) 0.02% (wholly owned by Changzhou Aohong Electronics)[4]
- Dynamic Technology Manufacturing (Thailand) · Dynamic Electronics: Dynamic Electronics Co., Ltd. (超颖电子电路股份有限公司) 100% (Dynamic Electronics Overseas Investment Holding Pte. Ltd. (Singapore, wholly owned))[11]; 定穎投資控股股份有限公司 (Dynamic Holding, TWSE 3715) (Dynamic Electronics Holding Pte. Ltd., which directly holds 86.10% of Dynamic Electronics Co., Ltd.)[11]
- First Quality Circuit (Sihui Fuji Electronics): Sihui Fuji Electronics Technology Co., Ltd. (四会富仕电子科技股份有限公司) 56.73%[13]; ELECBRIGHT SOLUTIONS PTE. LTD (Singapore, wholly owned by the parent) 42.7%[13]; 四会富仕电子（香港）有限公司 (Hong Kong subsidiary of the parent) 0.57%[13]
- Sundell Technology · Aoshikang (ASK PCB): Aoshikang Technology Co., Ltd. (奥士康科技股份有限公司) 85.1% (JIARUIAN PTE. LTD. (Singapore), which controls Sundell)[29]; 名幸电子香港有限公司 (Hong Kong subsidiary of Meiko Electronics Co., Ltd.) 14.9% (JIARUIAN PTE. LTD. (Singapore))[30]
Joint ventures
| Plant | Shareholders |
|---|---|
| Peng Shen Technology (Thailand) · Zhen Ding Tech | Avary Holding (Shenzhen) Co., Ltd. 72.25%[23]; AROC (company named in Avary's filing; not a related party of Avary) 17.65%[23]; Saha Group 10%[23] |
| Sundell Technology · Aoshikang (ASK PCB) | Aoshikang Technology Co., Ltd. (奥士康科技股份有限公司) 85.1%[29]; 名幸电子香港有限公司 (Hong Kong subsidiary of Meiko Electronics Co., Ltd.) 14.9%[30] |
| Advanced Interconnection Technology (AITC) · SVI and CCTC | SVI Public Company Limited 75%[2]; China Circuit Technology (Shantou) Corporation (CCTC, 汕头超声印制板公司) 25%[2] |
Peng Shen Technology is Zhen Ding Tech Group's Thai plant, held through Avary Holding, with Saha Group as a Thai partner. Sundell Technology joins Aoshikang and Japan's Meiko Electronics. Advanced Interconnection Technology joins Thailand's SVI with China Circuit Technology of Shantou.
The largest Thai entities
Registered capital is the amount the shareholders have committed to the Thai company, as shown in the company register. It is a floor, not the total spent: several parents fund plants with loans as well.
| Thai company | Registered capital, THB m | Registered |
|---|---|---|
| PENG SHEN TECHNOLOGY (THAILAND) CO., LTD.[40] | 11,330 | 2023-09-15[40] |
| UNIMICRON (THAILAND) CO., LTD.[41] | 10,360 | 2023-03-08[41] |
| DYNAMIC TECHNOLOGY MANUFACTURING (THAILAND) CO., LTD.[42] | 9,100 | 2023-04-25[42] |
| CMK CORPORATION (THAILAND) COMPANY LIMITED[43] | 9,007 | 2006-04-18[43] |
| FUJIKURA ELECTRONICS(THAILAND) COMPANY LIMITED[44] | 8,484 | 2010-04-01[44] |
| WUS PRINTED CIRCUIT (THAILAND) CO., LTD.[45] | 6,490 | 2022-10-04[45] |
| VICTORY GIANT TECHNOLOGY (THAILAND) CO., LTD. (formerly APCB Electronics (Thailand) Co., Ltd.)[46] | 6,372 | 1990-07-25[46] |
| GOLD CIRCUIT ELECTRONICS (THAILAND) CO., LTD.[47] | 5,000 | 2023-04-11[47] |
| MULTI-FINELINE ELECTRONICS (THAILAND) CO., LTD.[48] | 5,000 | 2023-06-30[48] |
| SUNDELL TECHNOLOGY CO., LTD.[49] | 4,700 | 2023-02-14[49] |
Source: the Thai company register (Department of Business Development), as shown by a registry data service on 24 and 25 September 2026.
The groups behind the plants
| Parent group | Listing | Revenue, latest fiscal year |
|---|---|---|
| Aoshikang Technology Co., Ltd. | SZSE 002913 | CNY 5.5 billion (2025)[30] |
| Apex International Co., Ltd. | TWSE 4927 (泰鼎-KY) | TWD 11.6 billion (2025)[6] |
| Changzhou Aohong Electronics Co., Ltd. | SSE 605058 | CNY 1.3 billion (2025)[50] |
| Chin Poon Industrial Co., Ltd. | TWSE 2355 (敬鵬) | TWD 15.8 billion (2025)[51] |
| CMK Corporation | TSE 6958 | JPY 100.2 billion (2026)[52] |
| Compeq Manufacturing Co., Ltd. | TWSE 2313 | TWD 76.0 billion (2025)[9] |
| Delton Technology (Guangzhou) Inc. | SZSE 001389; HKEX 01989 | CNY 5.5 billion (2025)[53] |
| Dynamic Holding (定穎投控) | TWSE 3715; intermediate parent Dynamic Electronics Co., Ltd. is listed on SSE 603175 | TWD 19.5 billion (2025)[54] |
| Founder Technology Group Co., Ltd. | SSE 600601 | CNY 4.9 billion (2025)[55] |
| Fujikura Ltd. | TSE Prime 5803 | JPY 1,182.4 billion (2026)[56] |
| Gold Circuit Electronics Ltd. | TWSE 2368 | TWD 60.0 billion (2025)[16] |
| Guangdong Ellington Electronics Technology Co., Ltd. | SSE 603328 | CNY 4.0 billion (2025)[33] |
| Huizhou Zhongjing Electronics Technology Co., Ltd. (CEE) | SZSE 002579 | CNY 3.1 billion (2025)[57] |
| Ji'an Mankun Technology Co., Ltd. | SZSE 301132 | CNY 1.6 billion (2025)[34] |
| Jiangsu Allfavor Intelligent Circuits Technology Co., Ltd. | SZSE 300964 (ChiNext) | CNY 0.9 billion (2025)[58] |
| Jiangxi Welgao Electronics Co., Ltd. | SZSE ChiNext 301251 | CNY 1.5 billion (2025)[59] |
| KCE Electronics Public Company Limited | SET KCE | THB 13.3 billion (2025)[60] |
| Kingboard Holdings Limited | HKEX 0148 | HKD 45.4 billion (2025)[61] |
| NOK CORPORATION | TSE 7240 | JPY 766.9 billion (2024)[20] |
| Olympic Circuit Technology Co., Ltd. | SSE 603920 | CNY 5.6 billion (2025)[62] |
| Shengyi Technology Co., Ltd. | SSE 600183 | CNY 28.4 billion (2025)[63] |
| Shennan Circuits Co., Ltd. | SZSE 002916 | CNY 23.6 billion (2025)[64] |
| Shenzhen Jove Enterprise Limited | SZSE ChiNext 300814 | CNY 1.9 billion (2025)[65] |
| Shenzhen Kinwong Electronic Co., Ltd. | SSE 603228 | CNY 15.3 billion (2025)[66] |
| Sihui Fuji Electronics Technology Co., Ltd. | SZSE 300852 | CNY 1.9 billion (2025)[67] |
| Suntak Technology Co., Ltd. | SZSE 002815 | CNY 7.5 billion (2025)[68] |
| Suzhou Dongshan Precision Manufacturing Co., Ltd. (DSBJ) | SZSE 002384 | CNY 40.1 billion (2025)[69] |
| SVI Public Company Limited | unlisted since May 2026 (delisted from SET; last trading day 21 May 2026) | THB 18.3 billion (2025)[70] |
| Unimicron Technology Corporation | TWSE 3037 | TWD 131.2 billion (2025)[71] |
| Unitech PCB (燿華電子) | TWSE 2367 | TWD 16.2 billion (2025)[72] |
| Victory Giant Technology (HuiZhou) Co., Ltd. | SZSE 300476; HKEX 2476 (H shares listed 21 April 2026) | CNY 19.3 billion (2025)[73] |
| WUS Printed Circuit (Kunshan) Co., Ltd. | SZSE 002463 | CNY 18.9 billion (2025)[38] |
| Zhen Ding Technology Holding Limited | TWSE 4958 | TWD 182.5 billion (2025)[74] |
Source: each group's annual report or results, as cited. Revenue is the whole group's, in its reporting currency and never converted, and most of it is earned outside Thailand.
Thai-listed companies in the chain
Some of the chain is listed in Bangkok. These companies make boards, assemble them, supply power electronics, partner with a board maker or host the plants on their industrial estates.
| Company | Role in the PCB chain | Revenue 2025, THB m | Market value, THB m |
|---|---|---|---|
| KCE Electronics PCL (KCE) | Bare-board PCB maker | 13,339[75] | 79,791 (2026-09-23)[75] |
| SVI PCL (SVI) | Electronics manufacturing; joint-venture partner in Advanced Interconnection Technology | 18,579[76] | not listed since 22 May 2026 |
| Hana Microelectronics PCL (HANA) | Electronics and board assembly | 21,231[77] | 45,154 (2026-09-23)[77] |
| Team Precision PCL (TEAM) | Board assembly | 2,853[78] | 3,791 (2026-09-23)[78] |
| Cal-Comp Electronics (Thailand) PCL (CCET) | Electronics manufacturing | 139,241[79] | 95,618 (2026-09-23)[79] |
| Delta Electronics (Thailand) PCL (DELTA) | Power electronics and data-centre equipment | 200,819[80] | 3,193,297 (2026-09-23)[80] |
| Stars Microelectronics (Thailand) PCL (SMT) | Electronics assembly | 2,172[81] | 5,324 (2026-09-23)[81] |
| Saha Pathana Inter-Holding PCL (SPI) | Joint-venture partner in Peng Shen Technology | 4,466[82] | 43,753 (2026-09-23)[82] |
| Rojana Industrial Park PCL (ROJNA) | Industrial estate operator | 15,258[83] | 11,618 (2026-09-23)[83] |
| Amata Corporation PCL (AMATA) | Industrial estate operator | 14,524[84] | 38,525 (2026-09-23)[84] |
| WHA Corporation PCL (WHA) | Industrial estate operator | 16,432[85] | 72,044 (2026-09-23)[85] |
Source: company annual reports (Form 56-1 One Report) and the Stock Exchange of Thailand, as cited. SVI left the exchange at its own request on 22 May 2026.
What the owners have announced next
The parents' filings describe the next phase at many plants. A selection, each in the company's own terms:
- Advanced Interconnection Technology (AITC) · SVI and CCTC: Commercial production is expected in the second half of 2026 (Thai year 2569).[2]
- Allfavor Circuit (Thailand): In 2026 the company plans to start construction of the Allfavor Thailand PCB production base project.[58]
- Aohong Electronics (Thailand): In 2026 the company aims to bring the Thailand base into volume production.[50]
- Apcb Electronics (Thailand) · Victory Giant Technology: The Thailand high-multilayer PCB project is scheduled to reach its intended usable state by 31 December 2028.[5]
- Dynamic Technology Manufacturing (Thailand) · Dynamic Electronics: High-end AI products from the Thai plant are to enter volume production progressively from the second half of 2026.[11]
- First Quality Circuit (Sihui Fuji Electronics): In 2026 the parent plans to raise capacity utilisation at the Thai plant and enter supply chains of communications, power-supply and satellite customers.[67]
- Guanghe Technology (Thailand) · Delton: The Thailand plant is fully focused on high-end mainboards for computing servers, and new capacity is expected to be added in Q4 2026.[17]
- Multi-Fineline Electronics (Thailand) · MFLEX: MFLEX Thailand is one of the implementing companies of DSBJ's optical chip and optical module expansion project, raised from USD 1.2 billion to USD 1.7 billion in August 2026.[21]
- Peng Shen Technology (Thailand) · Zhen Ding Tech: The 2026 Thailand park plan funds plant buildings and high-end HDI (including SLP) and HLC capacity, with construction scheduled across 2026.[86]
- Shengyi Electronics (Thailand): Phase one of the Thailand plant (high-end boards for large-scale computing) is in equipment installation and commissioning, with trial production and operation targeted for Q3 2026.[87]
- Shennan Circuits (Thailand): The Thailand plant began line production in the second half of 2025 and was in capacity ramp-up in the first half of 2026.[28]
- Shye Feng: Apex's 2026 business budget sets group monthly capacity at 500,000 to 600,000 square metres.[6]
What this means
Analysis. Three points follow from the ownership map.
- Check the parent, then the plant. Most plants have a listed parent that reports its Thai project in public filings. A buyer can read how far a plant has ramped and how much has been invested before asking for a quote, then confirm the plant's own line and certifications directly.
- Follow the capital spending. The owners' announced plans for 2026 and 2027 are orders waiting to be placed: buildings, equipment, chemicals, laminate, maintenance and skilled staff. Thai suppliers and service firms can target them by name.
- Look for the Thai partners. Saha Group holds a stake in Peng Shen alongside Zhen Ding, and SVI holds the majority of Advanced Interconnection Technology with a Chinese partner. Both show routes for Thai companies into the new cluster, as a partner or as the lead.
How this was researched
Researched on 24 and 25 September 2026. For each plant we read the parent's filings on the Shenzhen, Shanghai, Taiwan, Tokyo, Hong Kong and Thai exchanges, the Thai company register through a registry data service, Board of Investment releases and company announcements. Every value was checked against the text of its source. Values nobody publishes are marked as not published. Individuals are never named: where a shareholder is a person or a family, the filing's percentage is shown without a name. Plants are those in the MPBxChange register of bare-board PCB plants; three Thai-listed assemblers appear in the Bangkok section only.
Sources
- company AKM Meadville Electronics (Xiamen) Co., Ltd. (2026). About AKM Meadville (manufacturing sites). AKM Meadville Electronics (Xiamen) Co., Ltd.. back to text
- press InfoQuest (2025). SVI ร่วมทุนยักษ์ใหญ่จีนผลิตแผงวงจรพิมพ์ HDI PCB ในไทย มูลค่าเกือบ 4 พันลบ.. InfoQuest. back to text
- official 江苏本川智能电路科技股份有限公司 (cninfo) (2025). 本川智能：关于向泰国子公司增资及完成注册资本变更登记的公告 (2025-001). 江苏本川智能电路科技股份有限公司 (cninfo). back to text
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- official 胜宏科技（惠州）股份有限公司 (cninfo / HKEX overseas regulatory announcement) (2026). 胜宏科技（惠州）股份有限公司 2026年半年度报告 (definitions). 胜宏科技（惠州）股份有限公司 (cninfo / HKEX overseas regulatory announcement). back to text
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How to cite: MPBxChange (2026). Who owns Thailand's PCB plants: parents, listings and joint ventures. MPBxChange research. https://www.mpbxchange.com/research/who-owns-thailand-pcb-plants