ECM

Three-Circle (三环集团) A+H Pre-IPO: Early Thoughts

15 Jun 2026 By Ke Yan, CFA
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Abstract: Three-Circle is seeking an A+H listing. China Galaxy International is the sole sponsor. We look at the company's core segments: electronic components, telecom components, and electronic and ceramic materials. We discussed our preliminary thoughts on the company's valuation based on A-H premium.

GUANDDONG FENGHUA ADVANCED TECHNOLOGY (000636 CH) ZHEJIANG SANHUA INTELLIGENT CONTROLS (002050 CH) SHENZHEN SUNLORD ELECTRONICS (002138 CH) HEBEI SINOPACK ELECTRONIC TECHNOLOGY (003031 CH) SamsungElecMech (009150 KS) SANHUA (2050 HK) Yageo (2327 TT) SICC (2631 HK) CHAOZHOU THREE-CIRCLE (300408 CH) LENS TECHNOLOGY (300433 CH) T&S COMMUNICATIONS (300570 CH) YOFC (601869 CH) FUJIAN TORCH ELECTRON TECHNOLOGY (603678 CH) LENS (6613 HK) YANGTZE OPTICAL FIBRE AND-H (6869 HK) SICC (688234 CH) Kyocera (6971 JP) Taiyo Yuden (6976 JP) Murata Manufacturing (6981 JP)

Highlighted Stocks

GUANDDONG FENGHUA ADVANCED TECHNOLOGY, ZHEJIANG SANHUA INTELLIGENT CONTROLS, SHENZHEN SUNLORD ELECTRONICS, HEBEI SINOPACK ELECTRONIC TECHNOLOGY, SamsungElecMech, SANHUA, Yageo, SICC, CHAOZHOU THREE-CIRCLE, LENS TECHNOLOGY, T&S COMMUNICATIONS, YOFC, FUJIAN TORCH ELECTRON TECHNOLOGY, LENS, YANGTZE OPTICAL FIBRE AND-H, SICC, Kyocera, Taiyo Yuden, Murata Manufacturing

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