According to reports, AI computing power "shovel seller" Suzhou Dongshan Precision Manufacturing Co., Ltd. (02384) officially listed on the Hong Kong Stock Exchange today (October 28). With the successful H-share listing, the company will formally establish an "A+H" dual-listing platform, opening up domestic and overseas financing channels and injecting capital momentum into high-end capacity investment and global business expansion.
The company's cornerstone lineup is impressive, with nearly 20 cornerstone investors collectively subscribing to US$680 million, bringing together top international asset managers, first-tier industrial capital, and well-known long-term institutions. These include JPMorgan Asset Management (Asia Pacific), Alibaba Investment, CPE Bodhi, Rui Yuan Fund, Orient Asset Management (Hong Kong) Limited, Jinghe Integrated Hong Kong, and other first-tier industrial capital and renowned long-term institutions. This demonstrates recognition from upstream and downstream players in the industrial chain for the long-term value of its PCB and optical module tracks.
As a globally leading electronic intelligent manufacturing enterprise, Suzhou Dongshan Precision Manufacturing Co., Ltd. primarily focuses on PCB Bancorp, precision components, touch panels and LCD modules, as well as optical modules. Among these, "AI PCB + optical modules" are its two core tracks for accelerated growth. According to data from China Insights Consultancy, based on 2025 revenue, the company is the third-largest PCB supplier in the global PCB market worth US$85.2 billion. Through Source Photonics, the company ranks seventh in the global optical module market worth US$24.5 billion, with a market share of 2.9%.
With the continued rise of its optical module business, Suzhou Dongshan Precision Manufacturing Co., Ltd.'s performance has entered a phase of accelerated release. In the first half of this year, the company achieved operating revenue of RMB 27.798 billion, a year-on-year increase of 63.95%; it achieved net profit attributable to shareholders of the listed company of RMB 2.957 billion, a year-on-year increase of 290.09%. It achieved net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses of RMB 2.48 billion, a year-on-year increase of 277.52%. The continuous introduction of new customers and new products in the optical module business has validated the company's dual-engine structure of "PCB stabilizing the base, optical modules boosting profits."
As one of the few companies in the industry that simultaneously holds two core AI computing power hardware tracks — "PCB" and "optical modules" — Suzhou Dongshan Precision Manufacturing Co., Ltd.'s listing in Hong Kong this time is expected to leverage the Hong Kong capital market to connect global resources, continuously increase high-end capacity and technology iteration, amplify the integrated synergy between PCB and optical modules, and tap into the medium-to-long-term growth potential of the AI computing power track.
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