Company's Business
KCE Electronics Public Company Limited (KCE) was established on Nov. 5, 1982. The Company listed on the Stock Exchange of Thailand in August 1988, and converted its status from a limited company to a limited public company in December 1992. The Company’s core business is the production and distribution of printed circuit boards (PCBs), under the “KCE” trademark. .
Detail of the Products
PCB (Printed Circuit Board)
Printed circuit boards (PCBs) are fundamental components in a wide range of electronic products, serving as the foundation for electronic circuits. All electronic devices used in everyday life include one or more PCBs. These boards contain interconnected copper traces that provide pathways for electrical signals, enabling the mechanical support and interconnection of electronic components.
PCBs are composed of two main parts: the substrate (or base) and the electrical conductors. The substrate is a thin layer of insulating material, typically made of woven fiberglass fully coated with epoxy resin. This substrate material possesses excellent thermal, mechanical, and electrical insulation properties, making it ideal for various electronic applications. The copper conductors are either etched or plated onto the substrate, forming pathways for electrical signals between components.
KCE Electronics Public Company Limited (KCE) specializes in the following PCB products :
- Double-sided plated-through-hole PCBs
- Multilayer PCBs: Available with 4 to 24 layers of copper traces.
- Semi-flex PCBs: These multilayer printed circuit boards feature areas that are thinned by depth routing, allowing them to bend easily for better fit within enclosures.
- HDI (High-Density Interconnect) PCBs: Advanced multilayer boards with higher circuit density, characterized by fine lines and spaces, laser-drilled via holes connecting layers, and buried vias embedded within the board. HDI technology is essential for cutting-edge PCB designs.

PCBs find applications in various industries, including automotive, industrial equipment, telecommunications, consumer electronics, medical devices, mobile phones, and computer equipment.
Given that PCB production requires advanced technology and adherence to industry standards, the Company is committed to continuous improvement in quality control, production technology, and operator skill levels. The Company has expanded its production capacity and appointed sales representatives in various countries to meet the growing global demand for PCBs.

Prepreg & Laminate
Thai Laminate Manufacturer Company Limited (TLM) is a manufacturer of Prepreg and Copper Clad Laminate or Laminate. Both Prepreg and Laminate are the primary materials for manufacturing Printed Circuit Board or PCB. PCB is the main part to be used for manufacturing electronic parts in automotive, telecommunication network, industrial electronics, medical equipment, consumer products and so on.

TLM production consists of 2 parts : Prepreg Process and Lamination Process
- Prepreg Process
Glass fabric is treated with the varnish solution, mainly consisting of epoxy resin. The treated fabric is then heated at 170 to 200 degree Celsius around 1 minute until the solution undergoes polymerization, creating the solid glaze that coats to the fabric. It is produced in a roll form and stored in the cold room at the controlled temperature and humidity. The rolls of Prepreg are ready to be distributed and delivered to clients. A certain portion however, is cut to sheets to be used as a raw material in the manufacture of laminate.
- Lamination Process
Prepreg is cut to the proper sizes and stacked after designed thickness of dielectric. They are loaded to the lay-up machine in the clean room. Copper foil is attached at the top and bottom of the Prepreg sheets and each set is separated by a caul plate. The stack of sheets are pressed in the vacuum hot press at 170 - 200 degrees Celsius in the period around 2.5 to 3 hours for laminate curing. After that it is cut to size and trim before being packed for delivery to customers.


Chemical
Chemtronic Products Co.,Ltd.’s main products are Copper Sulphate and Tin Oxide which use the raw materials from the recycle PCB spent and Scrap. The Copper Sulphateare applied for feed mill, fishery and fertilizer industry with the certificate of FAMI-QS, Department of Livestock Development and Department of Fisheries. For Tin Oxide is applied as raw material for tin related products.
CTC Chemical Co.,Ltd. has PCB etching chemicals manufacturing. The main products are alkaline etching chemical and tin stripper chemical.

Manufacturing Facilities
The Company and its subsidiaries have factories and offices for manufacturing as follows:
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Raw material/Product
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|---|---|
| PCB | KCE Electronics Public Company Limited Located at 72-72/1-3 Lat Krabang Industrial Estate Soi Chalongkrung 31, Kwang Lumplatew, Lat Krabang, Bangkok |
| PCB | KCE Technology Co., Ltd. (subsidiary) Located at 117, 118 Moo 1 Hi-Tech Industrial Estate Asia Road, Banlain, Bang Pa-In, Ayutthaya province |
| Laminate, Prepreg | Thai Laminate Manufacturer Co., Ltd. (subsidiary) Located at 70, 70/1 Lat Krabang Industrial Estate Soi Chalongkrung 31, Kwang Lumplatew, Lat Krabang, Bangkok |
| Chemical Product | Chemtronic Technology (Thailand) Co., Ltd. (subsidiary) Located at 1/28 Moo 5 Tambol Khan Ham Amphur Uthai, Ayutthaya province |
| Chemical Product | Chemtronic Products Co., Ltd. (subsidiary) Located at 1/97 Moo 5 Tambol Khan Ham Amphur Uthai, Ayutthaya province |
Policy and Business Overview
KCE Electronics PCL and its subsidiaries are involved in the manufacturing and distributing of printed circuit boards (PCBs), which are the foundation component for a wide range of electronic devices. Its key customer base includes manufacturers of automotive electronic equipment, telecommunication devices, computer networks, industrial equipment, medical equipment and consumer product. Almost all of the Company's production is for exporting worldwide; Europe, United States of America and Asia.
The Group's operational policy is mainly committed to achieving the excellent in manufacturing capability, by initiating various strategies to obtain a better quality product, at a lower cost. The Company continues to seek opportunity to increase profit, by introducing new technologies in production and fully utilize current assets to its utmost benefits, which will be resulted in reaching the maximum efficiency level. Another important policy is the commitment in keeping a long term relationship with its customers by providing the most valuable service- the reputation of quality product, that gain trust from customers ever since. In addition, the company has a policy that focuses on responsibility towards stakeholders, including society and the environment as a whole.
Regarding the management of operations, the Board is responsible for the determination of strategies and key policies. CEO, who is policy responsible arranged a meeting between CEO and Managements annually, for the purpose of communicating such strategies and setting up the operational objectives (KPI) for the factory as well as for each section of operation. Management of each section then continued to arrange separate meetings to further communicate the strategies and targets down to employee level. During the year, the targets were seriously monitored by comparing actual results with the planned KPI. Managements also regularly reported the operation results to the CEO in the monthly Management meeting. CEO then summarized the operation results for the strategies and reported to the Board in each quarter.
Major changes and developments
| January 2024 | The Company received the Thailand’s Top Corporate Brand Hall of Fame 2023 award in the Electronics category. This award is given to companies with the highest consecutive brand value for 5 years, organized by The Master of Science in Branding and Marketing Program (MBM) of Chulalongkorn Business School (CBS), in collaboration with the Stock Exchange of Thailand and the Manager Media Group. |
| April 2024 | The Shareholders’ Meeting No. 41/2024 approved the following :
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| May 2024 | Payment of a dividend in respect of the Company's operating results for 2023 at Bt0.70 per share For 1,182,088,596 shares totaling Bt827,462,017 |
| July 2024 | Started the first year of the Employee Joint Investment Program "KCE EJIP No.2" for the employees and management executives of KCE Electronics PCL and its subsidiaries. |
| August 2024 | The corporate restructuring by merging the business of K.C.E. International Company Limited (KCEI), a subsidiary in which the Company holds 99.99% of shares, into the Company's business through the Entire Business Transfer method, with effective from August 1, 2024. |
| September 2024 | Payment of an interim dividend in respect of the Company’s operating results for the first half of 2024 at Bt0.60 per share for 1,182,088,596 shares totaling Bt709,253,158 |
| October 2024 |
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| December 2024 |
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| April 2023 | The Shareholders’ Meeting No. 40/2023 approved the following:
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| May 2023 | Payment of a dividend in respect of the Company's operating results for 2021 at Bt0.60 per share For 1,181,780,096 shares totaling Bt709,179,357. |
| September 2023 | Payment of an interim dividend in respect of the Company’s operating results for the first half of 2022 at Bt0.60 per share for 1,181,828,096 shares totaling Bt709,179,357. |
| October 2023 | The Company achieved an "Excellent" corporate governance in the 2023 Annual survey for the ninth consecutive year. |
| December 2023 | The Company submitted the recertification of Thailand’s private sector Collective Action Coalition (CAC) membership on September 27, 2023, which the CAC already approved the extension of the certification on December 30, 2023. |
| April 2022 | The Shareholders’ Meeting No. 39/2022 approved the following:
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| May 2022 | Payment of a dividend in respect of the Company's operating results for 2021 at Bt1.00 per share For 1,181,780,096 shares totaling Bt1,181,780,096. |
| September 2022 | Payment of an interim dividend in respect of the Company’s operating results for the first half of 2022 at Bt1.00 per share for 1,181,828,096 shares totaling Bt1,181,828,096. |
| October 2022 | The Company achieved an "Excellent" corporate governance in the 2022 Annual survey for the eighth consecutive year. The Company is categorized the Top Quartile under the group of companies with the Market Capitalize of greater than Bt10,000 million. |
| October 2022 | SET Awards 2022 organized by the Stock Exchange of Thailand, awarded KCE; the "Best Company Performance Awards", under the group of companies with the Market Capitalization of Bt100,000 million, and awarded KCE's CEO the "Best CEO Awards". |
| October 2022 | The Master of Science in Branding and Marketing Program (MBM) of Chulalongkorn Business School (CBS), the Stock Exchange of Thailand and the Manager Media Group announced that The Company achieved Thailand’s Top Corporate Brands 2022 Awards in electronics industry sector for the fourth consecutive year. |
| November 2022 | The Company entered into an acquisition of assets transaction for an investment of the new factory and machinery for PCB manufacturing project with a capacity of 1 million sq.ft. per month, located at Rojana Industrial Park, Ayutthaya province on the land owned by the Company. The project value is totaling Bt8,060 million. |
| December 2022 | The Company achieved an ASEAN Asset Class Publicly Listed Companies Award in the 2021 ASEAN CG Scorecard which receives support from the ASEAN Capital Markets Forum (ACMF) and Asian Development Bank (ADB) to acknowledge the listed companies in ASEAN with outstanding good corporate governance practices for the second year. |
| April 2021 | The Shareholders’ Meeting No. 38/2021 approved the following:
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| May 2021 | Payment of a dividend in respect of the Company's operating results for 2020 at Bt0.40 per share For 1,172,793,596 shares totaling Bt471,957,838 |
| May 2021 | The Board of the Directors passed a resolution approving the purchase of land located at 1/7 Rojana Industrial Park , Moo 5, Khanham , Uthai , Phra Nakhon Sri Ayutthaya, from Sanyo Semiconductor (Thailand) Co., Ltd. The asset has the total area of 67-2-91 Rai. value of Baht 221 million. The purpose of the investment is to support business expansion, as well as to enhance long-term value for shareholders. |
| September 2021 | Payment of an interim dividend in respect of the Company’s operating results for the first half of 2021 at Bt0.60 per share for 1,181,073,296 shares totaling Bt708,643,978 . |
| November 2021 | The Company achieved an "Excellent" corporate governance in the 2021 Annual survey for the seventh consecutive year. The Company is categorized the Top Quartile under the group of companies with the Market Capitalize of greater than Bt10,000 million. |
| December 2021 | The Master of Science in Branding and Marketing Program (MBM) of Chulalongkorn Business School (CBS), the Stock Exchange of Thailand and the Manager Media Group announced that The Company achieved Thailand’s Top Corporate Brands 2021 Awards in electronics industry sector for the third consecutive year. |
| March 2020 | The Board approved the allocation of warrants to purchase ordinary shares of the Company (ESOP-W6) to directors, managements and employees of the Company and its subsidiaries in the amount of not exceeding 10,000,000 units on March 13, 2020. The qualification and condition of the allocation to each directors, managements and employees detailed in the ESOP-W6 project. |
| April 2020 | Payment of an interim dividend in respect of the Company's operating results for July-December, 2019 at Bt0.40 per share for 1,172,793,596 shares totaling Bt469,117,438. |
| May 2020 | The temporary closure of one of our subsidiary, (KCE International Co., Ltd.), due to the impact of the COVID-19 outbreak on the current market and decline in demand from automotive customers worldwide. The temporary closure will begin on May 7, 2020, and end when the COVID-19 outbreak is under control and the automotive market recovers and returns to normality. |
| July 2020 | The Shareholders’ Meeting No. 37/2020 the agendas are as follow:
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| July 2020 | Started the 5th year of the Employee Joint Investment Program "KCE EJIP No.1" for the employees and management executives of KCE Electronics PCL and its subsidiaries. |
| August 2020 | The Company was categorized under the “Universe” of 2020 ESG100 companies, who have an outstanding sustainability performance regarding the Environment, Social and Governance, in 2020, rated by THAIPAT’s ESG Rating unit, the Foundation for Thailand Rural Reconstruction Movement (TRRM) under the royal patronage of His Majesty the King. |
| September 2020 | Payment of an interim dividend in respect of the Company’s operating results for the first half of 2020 at Bt0.40 per share for 1,172,793,596 shares totaling Bt469,117,438. |
| November 2020 | The Company achieved an "Excellent" corporate governance in the 2020 Annual survey for the sixth consecutive year. The Company is categorized the Top Quartile under the group of companies with the Market Capitalize of greater than Bt10,000 million. |
| November 2020 | The Master of Science in Branding and Marketing Program (MBM) of Chulalongkorn Business School (CBS), the Stock Exchange of Thailand and the Manager Media Group announced that The Company achieved Thailand’s Top Corporate Brands 2020 Awards in electronics industry sector with 25,547 million Baht of brand value for the second consecutive year. |
| December 2020 | The Company achieved an ASEAN Asset Class Publicly Listed Companies Award in the 2019 ASEAN CG Scorecard which receives support from the ASEAN Capital Markets Forum (ACMF) and Asian Development Bank (ADB) to acknowledge the listed companies in ASEAN with outstanding good corporate governance practices. |
| December 2020 | The Company submitted the recertification of Thailand’s private sector Collective Action Coalition (CAC) membership on September 23, 2020, which the CAC already approved the extension of the certification on December 31, 2020. |
| April 2019 | The Shareholders’ Meeting No. 36/2019 approved the following:
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| May 2019 | Payment of a dividend in respect of the Company's operating results for 2018 at Bt0.55 per share for 1,172,793,596 shares totaling Bt645,036,478. |
| July 2019 | Started the 4th year of the Employee Joint Investment Program "KCE EJIP No.1" for the employees and management executives of KCE Electronics PCL and its subsidiaries. |
| August 2019 | The Master of Science in Branding and Marketing Program (MBM) of Chulalongkorn Business School (CBS), the Stock Exchange of Thailand and the Manager Media Group announced that The Company achieved Thailand’s Top Corporate Brands 2019 Awards in electronics industry sector with 34,207 million Baht of brand value. |
| September 2019 | Payment of an interim dividend in respect of the Company’s operating results for the first half of 2019 at Bt0.40 per share for 1,172,793,596 shares totaling Bt 469,117,438. |
| October 2019 | The Company achieved an "Excellent" corporate governance in the 2019 Annual survey for the fifth consecutive year. |
