Data Snapshot

On September 28, the National Bureau of Statistics released data showing that in the first eight months of 2026, total profits of China's industrial enterprises above designated size reached RMB 5.27 trillion, up 15.7% year-on-year; operating revenue totaled RMB 93.09 trillion, up 6.6% year-on-year, with cumulative profit growth remaining in double digits. Manufacturing profits grew 17.4%, serving as the main driver of industrial profit growth.

Electronics Becomes the Biggest Growth Driver, Profits Double

Among all industrial sectors, electronics stood out: in January–August, profits in computer, communication and other electronic equipment manufacturing surged 1.1-fold year-on-year, contributing as much as 62.0% to the total profit growth of industrial enterprises above designated size. The NBS noted that the rapid expansion of AI-driven new technologies has broadened demand across related sectors—the core reason behind the electronics industry's profit boom.

Breaking it down, emerging scenarios such as new energy vehicles, IoT, and computing centers drove chip demand: profits in optoelectronic device manufacturing and discrete semiconductor device manufacturing grew 72.0% and 51.8%, respectively. In electronic basic materials, profits in electronic specialty materials manufacturing jumped 2.3-fold, while **electronic circuit manufacturing profits rose 49.1%**. High-tech manufacturing as a whole posted 54.7% profit growth, with fiber optic manufacturing and computer host manufacturing seeing profits multiply several times over.

Focus on Electronic Circuit Manufacturing: PCB Industry Sees "Volume–Price Double Rise"

The 49.1% profit growth in electronic circuit manufacturing directly reflects the upcycle in the printed circuit board (PCB) industry. Based on listed-company interim reports and industry research, the PCB sector already showed a "volume–price double rise" trend in H1 2026: net-profit growth at 48 A-share listed PCB companies significantly outpaced revenue growth; JLCPCB posted 35.9% year-on-year growth in PCB business revenue and 52.17% growth in PCBA business revenue; another PCB maker, Yibo Technology, saw H1 net profit rise 15.6-fold and announced plans to invest RMB 800 million to expand mid-to-high-end PCB capacity.

On the pricing side, pushed by rising upstream costs for copper clad laminate (CCL) and electronic cloth, PCB manufacturers with secure material supply have implemented across-the-board price increases of over 20% between June and August, passing costs smoothly downstream. Some board fabs have already returned to double-digit net margins in Q3.

AI Compute Is the Core Growth Engine, High-End Board Demand Booms

The core driver of this PCB upcycle is AI computing infrastructure. AI servers require large volumes of high-layer-count boards and high-frequency/high-speed boards, with PCB value per server several times that of traditional servers. Prismark forecasts the global PCB market will grow 12.5% in 2026 to USD 95.8 billion, with the industry on track to surpass USD 100 billion in 2027—two years earlier than previously expected. Structurally, high-layer-count boards, HDI, and packaging substrates are projected to achieve CAGRs of 8%, 9.2%, and 10.9% respectively during 2025–2030, well above the industry average.

Juehui Weiye's View

As a PCB and PCBA manufacturer with over a decade of experience, we see three takeaways from this cycle:

First, the upcycle is backed by real demand—not a short-term pulse. Demand from AI servers, data centers, new energy vehicles, and IoT is structural and long-cycle. Growth in high-layer-count boards, HDI blind/buried via boards, and high-frequency/high-speed boards will not reverse with short-term price fluctuations. Manufacturers that have invested early in high-end process capability will continue to benefit.

Second, in a price upcycle, delivery certainty matters more than price. With upstream materials rising and capacity tight, customers increasingly prioritize supply-chain stability, on-time delivery, and consistent quality when choosing suppliers. Juehui Weiye helps customers lock in reliable capacity through strict A-grade material selection, rigorous DFM reviews, and end-to-end quality control.

Third, high-end transformation is a must, not an option. As commodity-board competition intensifies, demand and profit margins continue to expand for high-layer-count PCBs, HDI blind/buried via boards, and high-frequency high-speed boards， along with automotive- and medical-grade boards. With over ten years of process investment in these high-end categories and ISO 9001 / ISO 13485 certifications, Juehui Weiye is well positioned to capture this industry upgrade wave.

About Juehui Weiye Circuit

Shenzhen Juehui Weiye Circuit Co., Ltd. specializes in high-precision multilayer PCB fabrication and one-stop PCBA services, serving AI hardware, industrial control, automotive electronics, medical devices, and consumer electronics. We provide DFM design review, impedance control, backdrilling, blind/buried vias and other high-speed process support. Whether you need prototyping for high-speed design validation or stable volume delivery, send us your Gerber files and stackup requirements—our engineering team will ensure every process step is done right.