Business · Companies · 1 hr ago
Dongshan Precision raises HK$9.9 billion in Hong Kong listing
Chinese electronics maker Dongshan Precision raised HK$9.9 billion in Hong Kong through a share sale priced at HK$86.80 each.
The Suzhou-based company is due to begin trading in Hong Kong on Wednesday, after its first-half 2026 profit rose 290% from a year earlier to RMB2.96 billion.
Dongshan has expanded from metal components into circuit boards and optical equipment through acquisitions, including Source Photonics in 2025.
Optical transceivers, which carry data through fibre networks, made up 19.2% of first-half revenue and had a 39.2% gross margin.
The Hong Kong offer was about 35% below its mainland share price on October 23, while financed retail applications were below the number of shares available in the public tranche.
The listing will test demand for AI-linked shares after a sharp market pullback.
The company plans to use the fundraising to expand its capabilities, and investors will be watching how quickly its acquired businesses generate cash.
Dongshan Precision raised about HK$9.9 billion in its Hong Kong listing, equivalent to $1.3 billion.
The Suzhou-based manufacturer priced its shares at HK$86.80 each, about 35% below its October 23 mainland share price after currency conversion.
The company is set to begin trading in Hong Kong on Wednesday, October 28, in a test of appetite for AI-linked listings after a sharp market pullback.
Dongshan reported first-half 2026 net profit attributable to shareholders of RMB2.96 billion, up 290% year on year, and revenue of RMB27.8 billion.
Its AI-related expansion includes optical transceivers, which contributed 19.2% of first-half revenue and had a 39.2% gross margin.
- Who
- Suzhou Dongshan Precision Manufacturing Co., a Chinese manufacturer.
- What
- It raised about HK$9.9 billion in a Hong Kong share listing.
- When
- The listing was reported on October 27, 2026. Trading is set to begin on October 28.
- Where
- Hong Kong.
- Why
- The fundraising will help the company expand its capabilities. The listing will also test investor appetite for AI-linked offerings after a sharp market pullback.
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Dongshan acquired MFLEX, adding flexible printed circuit capabilities.
Dongshan acquired Multek, adding rigid circuit boards and more advanced PCB manufacturing capabilities.
Dongshan acquired control of Source Photonics, entering optical transceivers and adding optical-chip capabilities.
Dongshan reported net profit attributable to shareholders of RMB2.96 billion and revenue of RMB27.8 billion.
Dongshan’s A-shares closed at a price about 35% above the Hong Kong offer price after currency conversion.
Dongshan is set to begin trading in Hong Kong.
- Fundraising
- About HK$9.9 billion, or $1.3 billion
- Offer price
- HK$86.80 per share
- Initial offering
- 113.8 million shares
- First-half 2026 net profit
- RMB2.96 billion, up 290% year on year
- First-half 2026 revenue
- RMB27.8 billion
- Optical transceivers
- 19.2% of first-half revenue; 39.2% gross margin