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PCB Maker Chaoying Electronic Files for Hong Kong IPO
Chaoying Electronic Circuit Co., Ltd. (603175.SH), a manufacturer of high-end printed circuit boards (PCBs) already listed in Shanghai, has formally applied for a listing on the mainboard of the Hong Kong Stock Exchange (HKEX).
The Listing Application
According to a disclosure filed with the HKEX on Sept. 21, the company is pursuing a dual primary listing. The application is being managed by China International Capital Corporation (CICC) and Guolian Securities International, who are acting as joint sponsors for the proposed initial public offering.
A dual listing would grant Chaoying Electronic access to a wider international investor base and an additional platform for capital raising, complementing its existing presence on the Shanghai Stock Exchange.
Market Position in Automotive Electronics
AdThe company's prospectus identifies it as a globally recognized manufacturer of high-end PCBs and one of the leading suppliers for the automotive industry. The filing cites a report from research firm Frost & Sullivan to underscore its market standing.
Key details from the report include:
- In the global market for automotive PCBs, Chaoying Electronic ranked as the eighth-largest supplier by revenue in 2023.
- The company improved its position to become the sixth-largest supplier globally in the first half of 2024.
This growth reflects the increasing demand for sophisticated electronic components in modern vehicles, including systems for advanced driver-assistance (ADAS), infotainment, and electric vehicle powertrains.
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