Strong Circuit, a mid-to-high-end and customized PCB enterprise, has started its IPO.
On October 17, Qiangda Circuit (301628) disclosed the prospectus, and the Company plans to list on the Shenzhen Stock Exchange's GEM. This time, it plans to issue 18.844 million shares at Rmb28.18/share, raising Rmb600mn to invest in the production of 960,000 square meters of multilayer boards and HDI boards per year at Qiangda Circuit Technology Co., Ltd. in Nantong, and replenish the Company's working capital. The subscription date is October 21.
The prospectus shows that Qiangda Circuit focuses on the research, production and sales of medium and high-end samples and small batches, and is a leading sample enterprise in the PCB industry with the ability to achieve "multivariety, small batches, high quality and fast delivery" flexible manufacturing.
From 2021 to 2023, Qiangda Circuit's revenue was Rmb710mn, Rmb731mn and Rmb713mn respectively, achieving a net profit of Rmb68mn, Rmb91mn and Rmb91mn respectively; in the first half of this year, Qiangda Circuit achieved revenue of Rmb389mn and a net profit of Rmb56mn, achieving steady growth.
As a high-tech enterprise, a member of China Electronic Circuit Association (CPCA), a supervisor of Shenzhen Printed Circuit Association (SPCA), and a national "specialized, refined, innovative and small giant" enterprise, Qiangda Circuit has been rated as one of the top 100 enterprises in the Chinese electronic circuit industry for three consecutive years from 2021 to 2023 by China Electronic Circuit Association. Through continuous R&D investment, Qiangda Circuit has formed a number of proprietary technologies or patented technologies in medium and high-end samples and small batches. As of June 30 this year, the Company and its subsidiaries had a total of 122 authorized patents, including 11 invention patents and 111 utility model patents.
With the completion of the "Nantong Qiangda Circuit Technology Co., Ltd. Yearly Production of 960,000 Square Meters of Multilayer Boards and HDI Boards Project" in this issue, it will apply high multilayer, high-level high-density interconnection boards and other special processing core technologies, and increase its production capacity to expand the Company's overall scale and enhance its market competitiveness.