(Yicai) Aug. 27 -- Shares of Olympic Circuit Technology advanced after the Chinese printed circuit board maker announced it plans to invest CNY2.6 billion (USD363.2 million) to build two new production bases, one at home and one abroad.

Olympic [SHA: 603920] was trading up 1.3 percent at CNY36.78 (USD5.14) as of 2.15 p.m. in Shanghai today, after earlier gaining as much as 5.7 percent.

Olympic will invest CNY1.5 billion to build a new-generation PCB facility in its home city of Heshan, China’s southern Guangdong province, the firm said in a statement yesterday. Construction is expected to begin by December and be completed around the middle of next year.

The plant will have an annual production capacity of 180,000 square meters of chip-embedded PCB products and 480,000 sqm of advanced high-density interconnected PCB products, Olympic noted.

Chip-embedded PCB products can help new energy vehicles optimize their power system and improve their driving range. They can also be applied in high-tech fields, such as data centers, high-power communication equipment, and humanoid robots. Advanced HDI PCB products are key components in new industrial fields, including fifth-generation network, artificial intelligence, autonomous driving, and high-end consumer electronics.

In a separate statement on the same day, Olympic said it also plans to invest CNY1.1 billion to build a production base in the Thai province of Chachoengsao. With an annual production capacity of 1.2 million sqm of PCB products, it is expected to ensure the stability of the overseas supply chain.

The construction of the Thai production base is expected to last 24 months, Olympic noted, adding that after reaching full capacity, the plant will achieve annual sales revenue of CNY719.6 million (USD100.5 million) and annual net profit of CNY79.8 million (USD11.1 million).

Olympic has entered the supply network of several internationally renowned enterprises, including Tesla, Panasonic, Mitsubishi Motors, Bosch, Dyson, Synaptics, Abbott Laboratories, and Insulet, the firm pointed out.

Editor: Futura Costaglione