Mainland China’s PCB giant wins Hong Kong approval for planned US$3b listing: sources

Mainland China's PCB manufacturer, Suzhou Dongshan Precision Manufacturing, has secured approval from Hong Kong Exchanges and Clearing (HKEX) for its planned US$3 billion share listing, according to sources. The company, listed on the Shenzhen Stock Exchange, passed its listing hearing and has been granted permission by the China Securities Regulatory Commission to issue up to 234 million shares.

Dongshan Precision specializes in producing PCBs, optical transceivers, precision components, touch panels, and liquid crystal modules for devices such as smartphones, PCs, automotive systems, industrial equipment, and Internet of Things devices. Initially aiming to launch its order books in October, the company's listing is expected to take place this year, though the timetable may be slightly delayed.

Despite a 40% drop from its peak, Dongshan Precision's shares have more than doubled since 2024, reaching a historical high of 208.08 yuan in July, resulting in a market capitalization of approximately 308 billion yuan. The company's revenue for 2025 reached 40.1 billion yuan, up 9% from the previous year, with overseas clients accounting for 81.4% of sales.

Net profit increased by 28% to 1.39 billion yuan. The IPO is expected to rank among Hong Kong's largest in the fourth quarter, with other large listings in 2026 already surpassing last year's total, according to Deloitte.