Abstract: Dongshan Precision, a maker of PCBs, precision components and optical transceivers, is seeking an A+H listing. UBS, Haitong, GF, and CITIC are the joint sponsors. While our previous note covers the fundamentals of the company, in this note we look at its business development, 1H26 results and A-H premium moves. We think the deal is worth following as the optical transceiver business acquired in 2025 raised 1H26 gross margin to its highest level since 2023.
SUZHOU DONGSHAN PRECISION MANUFACTURING, FIBOCOM WIRELESS, LENS TECHNOLOGY, DELTON TECHNOLOGY (GUANGZHOU), VICTORY GIANT TECHNOLOGY (HUIZHOU), VGT, SHENZHEN KINWONG ELECTRONIC, KINWONG, ZHONGJI INNOLIGHT, ZJ INNOLIGHT
Research on Hong Kong and A+H equity offerings, from the first filing to the aftermarket. Coverage includes pre-IPO early thoughts on the business and valuation, analysis of the final deal terms and cornerstone investors, and updates as new prospectus versions are filed.
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