On December 12, Chengdu Hongming Electronics Co., Ltd. (Hongming Electronics) successfully passed the listing review by the Shenzhen Stock Exchange's Growth Enterprise Market (GEM) board. The IPO is sponsored by Shenwan Hongyuan Securities, with plans to raise approximately RMB 1.95 billion.
According to its prospectus, Hongming Electronics specializes in the R&D, production, and sales of new electronic components, primarily resistive-capacitive (RC) components, providing high-performance and high-reliability products. The company also engages in precision component manufacturing, serving consumer electronics (such as tablets and laptops) as well as new energy batteries and automotive electronic structural parts.
With over 60 years of experience in electronic component development, Hongming Electronics has established a comprehensive product portfolio, including multilayer ceramic capacitors (MLCCs), chip ceramic capacitors, organic and mica capacitors, tantalum electrolytic capacitors, thermistors, displacement sensors, and other RC components, along with filters/connectors and microwave devices.
In the defense sector, the company's high-reliability products, such as MLCCs, organic/mica capacitors, displacement sensors, and thermistors, have a strong competitive edge. It has contributed to critical national defense projects in aerospace, military equipment, shipbuilding, and nuclear industries, earning recognition from key project contractors.
In the civilian sector, its components are widely used in consumer electronics and automotive electronics. Hongming Electronics is one of the few domestic manufacturers capable of full-chain production—from high-quality electronic materials (ceramic powders and conductive pastes) to finished components—achieving import substitution in multiple product lines. Notably, it pioneered China's first military-standard production lines for organic film capacitors, space-grade MLCCs, positive/negative temperature coefficient thermistors, and electromagnetic interference filters.
In precision components, the company focuses on product design, precision mold development, and smart manufacturing, continuously innovating high-precision, high-value-added products. It supplies major brands like Apple, Lenovo, and Motorola for consumer electronics and has become a key supplier in Apple’s supply chain.
Recently, Hongming Electronics has expanded into the new energy vehicle sector, developing battery and automotive electronic structural parts. It has secured certifications from leading industry clients and begun small-scale shipments.
Financially, the company reported revenues of approximately RMB 3.15 billion, RMB 2.73 billion, RMB 2.49 billion, and RMB 1.53 billion for 2022, 2023, 2024, and the first half of 2025, respectively. Net profits for the same periods were RMB 690 million, RMB 598 million, RMB 386 million, and RMB 370 million.
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