Dongshan Precision, a Chinese manufacturer of electronic components, has received official filing approval from the China Securities Regulatory Commission (CSRC) to issue overseas-listed shares (H shares) and list them on the Main Board of The Stock Exchange of Hong Kong Limited. The company plans to issue a maximum of 234 million H-shares. This move signifies Dongshan Precision's advancement in its "A+H" dual listing strategy, aiming to be listed on both the A-share market in mainland China and the Hong Kong Stock Exchange.
The company had previously submitted a prospectus to the Hong Kong Stock Exchange in December 2025. Dongshan Precision is a significant player in the electronics manufacturing industry, known for its core businesses in electronic circuit products, precision components, and display modules. According to CIC Consulting, based on 2024 revenue, it was the world's largest PCB supplier for edge AI devices and the second-largest flexible printed circuit (FPC) supplier globally.
Financially, Dongshan Precision reported an "increased revenue but decreased profits" divergence from 2022 to 2024. Revenues grew from RMB 31.58 billion in 2022 to RMB 36.77 billion in 2024, but net profit declined from RMB 2.368 billion to RMB 1.085 billion in the same period, a decrease of 54.18%. The gross margin also dropped from 16.1% to 11.5%. However, performance rebounded in the first three quarters of 2025, with revenue of RMB 27.071 billion (up 2.28% year-on-year) and net profit of RMB 1.223 billion (up 14.61% year-on-year).
The proceeds from the Hong Kong IPO are intended for constructing new production facilities, upgrading existing lines, pursuing strategic investments and acquisitions (including a recent acquisition of GMD Group and ongoing acquisition of Source Photonics), repaying debt, and supplementing working capital. UBS AG Hong Kong Branch, Haitong International Securities Company Limited, GF Securities (Hong Kong) Brokerage Co., Ltd., and CLSA Limited are among the overall coordinators for the listing.
