Suzhou Dongshan Precision Manufacturing Co., Ltd. will launch its public offering from October 20 to October 23, 2026, offering approximately 114 million H-shares globally, with roughly 10% allocated to the Hong Kong public tranche and about 90% to the international placement.
The offer price will not exceed HK$93.80 per share, with each lot consisting of 100 shares. The H-shares are expected to commence trading on the Stock Exchange of Hong Kong at 9:00 a.m. on October 28, 2026.
The company is a manufacturer primarily focused on printed circuit boards (PCBs), precision components, touch panels and liquid crystal display modules (LCMs), as well as optical modules, with business and operational footprints spanning the globe.
Its products are widely used in consumer electronics, automotive, data centers, communications equipment and industrial control equipment, ultimately enabling connectivity among people, devices and infrastructure.
In September 2025, the company entered the optical module business through the acquisition of Source Photonics, thereby expanding its product portfolio to include optical modules.
According to China Insights Consultancy, based on 2025 revenue, the company ranks as the third-largest PCB supplier in the global PCB market valued at US$85.2 billion. Based on Source Photonics' 2025 revenue, the company ranks seventh in the global optical module market valued at US$24.5 billion, with a market share of 2.9%.
The company's PCB, precision component, touch panel and LCM products serve the consumer electronics, automotive and communications terminal markets. Meanwhile, its optical module and AI PCB products targeting the data center terminal market serve as the company's core growth engines, with demand driven by the acceleration of global AI-related infrastructure construction.
For the years 2023, 2024 and 2025, and for the six months ended June 30, 2026, the company's revenue was RMB 33.651 billion, RMB 36.770 billion, RMB 40.125 billion and RMB 27.798 billion, respectively.
For the same periods, the company's profit for the year/period was RMB 1.965 billion, RMB 1.085 billion, RMB 1.393 billion and RMB 2.985 billion, respectively.
The company has entered into cornerstone investment agreements with Aurora SF, Yonglian Investment, JPMorgan Asset Management (Asia Pacific) Limited, Alibaba Investment, CPE Bodhi, LMR, Ruiyuan Fund, Montage HK, Orient Asset Management, Spring River Greater China Fund, Jane Street, Nexchip Hong Kong, Pinpoint, FS.com, Tianhong Fund, Xinhua Asset Management, Ghisallo, Jump Trading, Yicun Capital and Mr. Luo Zhongli. The cornerstone investors have agreed, subject to certain conditions, to subscribe for or procure their designated entities to subscribe for the relevant number of offer shares at the offer price, with the total subscription amount amounting to approximately US$680 million.
Assuming a maximum offer price of HK$93.80 per H-share, the company estimates it will receive net proceeds of approximately HK$10.5169 billion from the global offering.
In line with its strategy, the company intends to apply the net proceeds as follows: approximately 64.5% is expected to be used for constructing new facilities and upgrading the company's existing production facilities and production lines; approximately 20.0% is expected to be used for potential strategic investments or acquisitions to consolidate the company's technological and market leadership in its core businesses; approximately 5.5% is expected to be used for repaying part of its existing debt; and approximately 10.0% is expected to be used as working capital and for general corporate purposes.
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