New stock news | Xinxing Electronics' subsidiary Suzhou Qunce Technology may go public in Hong Kong.

The board of directors of Xingxing Electronics passed a proposal on Tuesday (October 28) for Suzhou Qunce Technology Company to apply for listing on the main board of the Hong Kong Stock Exchange, and it is expected that the application will be discussed at the shareholders' meeting in 2026. The listing entity is ABF and BT Wafer Plant of Suzhou Group, a subsidiary of Xingxing, holding 86% of the shares. The estimated listing time will be in 2027. It is reported that Suzhou Qunce Technology chose to list on the Hong Kong Stock Exchange in order to enhance global competitiveness, attract and motivate excellent professional talents, and expand business markets in mainland China. After Suzhou Qunce is listed, it can leverage the international funding platform provided by the Hong Kong Stock Exchange to raise funds through diversified financing channels, strengthen the company's financial structure, enhance financial flexibility, accelerate Xingxing's development globally and in mainland China, effectively improve the company's reputation, attract outstanding talents, and increase employee morale. At the same time, in addition to enhancing Suzhou Qunce's independent innovation capabilities and operational competitiveness, it is also conducive to increasing the net profit attributable to the holding parent company, ultimately enhancing overall shareholder equity. According to information, Xingxing Electronics was established in 1990, with its headquarters located in Guishan Industrial Zone, Taoyuan, Taiwan, and is a member of the Unimicron Group. It is a world-class supplier of printed circuit boards (PCBs) and IC carrier industries. The company is currently divided into PCB business unit, wafer business unit, and IC subcontracting pre-burn testing business unit, with ten FABs, four HDI plants, five wafer plants, and one IC pre-burning and testing plant in Taiwan. It has four production bases in mainland China, located in Shenzhen, Kunshan, and Suzhou. Xingxing Electronics is dedicated to the development of new products and technologies, and is a major supplier of advanced mobile phone HDI boards and IC packaging carrier boards. It actively develops flexible boards and flexible-hard combination boards. After merging with Taiwan's Unimicron Precision in 2009, Xingxing Electronics became the world's largest circuit board supplier. Its product line covers high-end printed circuit boards and various IC carrier boards, applied across information, communication, and consumer electronics sectors. Suzhou Qunce Technology is Xingxing Group's production base in Suzhou, mainly producing IC carrier boards of various types such as FCBOC, FCCSP, CSP, BOC, MMC, etc. Its products are widely used in various consumer electronic products in China, Hong Kong, Japan, the United States, Europe, and other parts of the world.