TacticScaleWhat Shengyi Technology (生益科技) Does & How It Makes Money (600183.SS)
Updated October 2026 · reflects Shengyi Technology's latest reported financials
Chinese maker of copper clad laminates and circuit board materials. It earns revenue by manufacturing and selling laminates, prepregs, and printed circuit boards to electronics and PCB makers in China and abroad.
How Shengyi Technology makes money
It earns revenue by manufacturing and selling laminates, prepregs, and printed circuit boards to electronics and PCB makers in China and abroad. It also exports to America, Europe, Korea, Japan and Southeast Asia.
What Shengyi Technology does
Shengyi Technology, founded in 1985 and headquartered in Dongguan, designs, produces and sells copper clad laminates, bonding sheets (prepregs) and printed circuit boards. Its range includes flame-retardant epoxy glass fabric laminates, composite epoxy materials, flexible circuit materials, metal-based laminates, resin-coated copper foil and cover films. It also makes specialty grades for high-speed digital, RF, automotive, IC substrate and high-thermal-conductivity uses. These materials are the foundation of circuit boards used in high-computing-power and AI servers, 5G antennas and base stations, aerospace, chip packaging, automotive electronics, industrial control, medical equipment and consumer devices. The company sells in China and exports to America, Europe, Korea, Japan and Southeast Asia. It was formerly known as Guangdong Shengyi Sci. Tech Co., Ltd.
Products & services
- Copper clad laminates
- Prepregs / bonding sheets
- Printed circuit boards
- High-speed digital (HSD) and RF materials
- IC substrate materials
- Flexible circuit materials and cover films
生益科技是做什么的？
生益科技成立于1985年，总部位于广东东莞，主要设计、生产和销售覆铜板、粘结片和印制电路板。产品包括阻燃环氧玻纤布覆铜板、复合环氧材料、挠性电路材料、金属基覆铜板、涂树脂铜箔和覆盖膜，还有面向高速数字、射频、汽车、IC封装基板和高导热等用途的专用材料。 公司产品用于高算力及AI服务器、5G天线和基站、航空航天、芯片封装、汽车电子、工控医疗设备和消费电子等领域。除国内市场外，产品还出口到美洲、欧洲、韩国、日本和东南亚。公司前身为广东生益科技股份有限公司。
What is Shengyi Technology worth?
On an owner-earnings DCF, Shengyi Technology's most-likely value is about ¥20 versus a recent price near ¥120 (492% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥7) with a margin of safety — so the honest verdict here is “Stretched — richly priced.” Fair value earns its keep only at the extremes, not in the wide middle.
Today's $120 is above even the optimistic Bull case ($43) — the market expects faster, longer growth than modeled here. Expensive unless that extra growth actually shows up.
⚠ Capital-intensive — this business reinvests heavily, so free cash flow runs well below its earnings. Fair value here is built on free cash flow, which understates owner earnings for reinvestment-heavy companies — read it as conservative.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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