New Stock News | Kinwong Electronics announces IPO in Hong Kong, stock price has risen for several consecutive days
Kinwong announced plans to go public in Hong Kong and is in discussions with intermediaries regarding the issuance and listing of H shares. This plan is subject to approval by the board of directors, shareholders' meeting, and regulatory agencies, and there are uncertainties involved. The company's stock price has risen for three consecutive days, closing at RMB 81.69 per share on October 29, with an increase of 5.83%. Kinwong focuses on the research, production, and sales of PCBs, with products covering multilayer boards, high-frequency and high-speed boards, and is actively expanding into emerging markets such as AI servers
According to the Zhitong Finance APP, on the evening of October 28, Jingwang Electronics (603228.SH) announced that the company is planning to issue shares overseas (H shares) and list on the main board of the Hong Kong Stock Exchange. As of now, the company is discussing relevant work for this H share issuance and listing with related intermediary institutions, and the specific details have not yet been finalized. This H share issuance and listing will not lead to changes in the company's controlling shareholder and actual controller.
According to requirements, once the specific plan is determined, this H share issuance and listing still needs to be submitted for review by the company's board of directors and shareholders' meeting, and must obtain the filing, approval, or authorization from regulatory agencies such as the China Securities Regulatory Commission, the Hong Kong Stock Exchange, and the Hong Kong Securities and Futures Commission. There is significant uncertainty regarding whether this H share issuance and listing can pass the review, filing, and approval processes and be ultimately implemented.
It is worth mentioning that Jingwang Electronics has seen a continuous surge for three days, with limit-up gains on both October 27 and 28. As of the time of writing on October 29, Jingwang Electronics is priced at 81.69 yuan per share, an increase of 5.83%.
As a national high-tech enterprise specializing in the R&D, production, and sales of PCBs, Jingwang Electronics' products cover multilayer boards, thick copper boards, high-frequency and high-speed boards, metal-based circuit boards, double-sided/multilayer flexible circuit boards, high-density flexible circuit boards, HDI boards, rigid-flex boards, special material PCBs, carrier-like boards, and packaging substrates. Currently, Jingwang Electronics has six major production bases in China located in Shenzhen, Guangdong, Longchuan, Guangdong, Jishui, Jiangxi, Xinfeng, Jiangxi, Jinwan, Zhuhai, and Fushan, Zhuhai.
This year, the company has expanded into emerging markets such as AI servers, high-speed switches, optical modules, and satellite communications while maintaining its existing advantages in the automotive electronics field. In the first half of the year, the mass production of AI servers accelerated, the high-density high-end HDI capabilities were enhanced, and the shipment volume of 800G optical modules increased, providing stable bulk supply to several leading customers in the optical module sector
