By Gabby Chen

(JW Insights) Jun 15 -- Chinese listed PCB maker Aohong Electronics (澳弘电子) plans to spend RMB600 million ($83.7 million) building a new plant in Thailand to better serve its overseas clients, reported Yicai Global on June 14.

The project, destined for an industrial park in Prachin Buri Province, will be built in phases and aim for mass production to start in 2026, the company announced on June 13, without disclosing any further details.

The Prachin Buri project will enhance Aohong's core competitiveness by better serving existing and potential key clients and lowering production costs, it added.

Founded in 2005 and listed on the Shanghai Stock Exchange in 2020, Aohong has well-known overseas clients, including LG Electronics, Whirlpool, and General Electric.

Aohong has two production bases in China with a total annual output of four million square meters of PCBs for home appliances, consumer electronics, power sources, network communications, and vehicle electronics. Its head office is in Changzhou, eastern China's Jiangsu Province, according to its website.

Aohong's latest annual earnings report shows that the company achieved a revenue of approximately RMB1.126 billion ($160 million) in 2022, up 5.18% year-on-year, with the Chinese market contributing around 72% of the total revenue, said the Yicai report.

(Li PP)