On June 26, the global leader in PCB direct imaging equipment, CFMEE (09630.HK), officially listed on the main board of the Hong Kong Stock Exchange, with a strong performance on its first day of trading. As of the time of writing, the company's stock price surged by 74.1%, reaching HKD 440 per share, with a single-day trading volume of HKD 1.865 billion, reflecting significant investor enthusiasm.

The final pricing for this issuance was set at HKD 252.73, with a trading unit of 50 shares. Excluding transaction fees, as of the time of writing, investors have an unrealized profit of HKD 9,363.5 per lot, maximizing the profit effect.

From the IPO situation, in the Hong Kong public offering, CFMEE was oversubscribed by 1,007.22 times, with the final number of shares offered in the public offering being 1.2839 million shares, accounting for about 10% of the total shares offered. A total of 208,000 valid applications were received, with approximately 24,412 applications processed.

In addition, during the international placement phase, CFMEE was oversubscribed by 27.22 times, with the final number of shares offered internationally being 11.2412 million shares, equivalent to 90% of the total shares offered.

Public information shows that CFMEE is the largest supplier of PCB direct imaging equipment in the world, with its core products covering two major categories: PCB direct imaging equipment and semiconductor direct-write lithography equipment. Its downstream is deeply tied to high-growth sectors such as AI servers, automotive electronics, and advanced packaging, making it one of the few domestic equipment manufacturers that master core technologies in micron to nanometer-level micro-nano lithography.

According to data from ZhiShi Consulting, by 2025, the company is expected to top the global PCB direct imaging equipment market with an 18.8% market share, while its overall market share in direct-write lithography is projected to reach 9.4%, ranking fourth globally.

On the financial front, CFMEE has seen significant growth in revenue and profit in recent years. From 2023 to 2025, the company's operating revenue is projected to be RMB 829 million, RMB 954 million, and RMB 1.408 billion, respectively; during the same period, net profits are expected to be RMB 179 million, RMB 161 million, and RMB 290 million.

Entering 2026, CFMEE's growth momentum remains strong. In the first quarter, it achieved revenue of RMB 515 million, a year-on-year increase of 112.48%; net profit reached RMB 108 million, a year-on-year increase of 108.98%.

Regarding the significant increase in performance, CFMEE explained that it is mainly attributed to the simultaneous rise in volume and price of high-end PCB equipment, the ramp-up of advanced packaging equipment, and the release of production capacity, combined with the high prosperity of the AI computing power and advanced packaging industries. Additionally, the company's overseas expansion has accelerated, having established a wholly-owned subsidiary in Thailand, with the proportion of overseas revenue increasing year by year, and the pace of global development continuing to accelerate This time, in its Hong Kong listing, CFMEE plans to use the funds raised for R&D upgrades, capacity expansion, strategic acquisitions in the supply chain, and overseas market expansion. As another semiconductor equipment company implementing the "A+H" layout, the listing on the Hong Kong stock market not only broadens its financing channels but also helps accelerate its globalization efforts, seizing domestic substitution opportunities in the semiconductor and high-end PCB fields, and further consolidating its leading position in the global direct-write lithography track