A-share subscription | Redboard Technology (603459.SH) opens subscription, focusing on the research and development, production, and sales of printed circuit boards.

On March 27, Hongban Technology (603459.SH) began accepting applications for purchase, with an issue price of 17.7 yuan per share and a maximum purchase limit of 21,000 shares. The price-earnings ratio is 25.6 times, and it is listed on the Shanghai Stock Exchange, with Guolian Minsheng Securities as its sponsor. The prospectus shows that Hongban Technology was established in 2005, focusing on the research and development, production, and sales of printed circuit boards. Its products are positioned in the mid-to-high-end application market, with high precision, high density, and high reliability. It is one of the enterprises in the industry with a high proportion of HDI board revenue and the ability to mass produce any interconnect HDI board and IC carrier board. The company has formed a complete product structure, including HDI boards, rigid boards, flexible boards, rigid-flex boards, class carrier boards, IC carrier boards, etc., with comprehensive technical research and development and production capabilities, providing customers with a variety of product choices and one-stop service. The company's products are widely used in consumer electronics, automotive electronics, high-end displays, communication electronics, and other fields, with significant competitive advantages and market positions in consumer electronics and automotive electronics. Having been deeply involved in the HDI board field for twenty years, the company is one of the enterprises in the industry that can produce high-layer arbitrary interconnect HDI boards on a large scale, with a maximum of 26 layers. The company occupies a leading position in the smartphone HDI mainboard field, providing 154 million smartphone HDI mainboards to the world's top ten smartphone brands by 2024, with a market share of 13%. In the smartphone battery board field, the company has become a major battery board supplier for seven of the world's top ten smartphone brands, with a market share of 20% by 2024. At the same time, the company has broken through the technical barriers of IC carrier boards and achieved mass production, becoming one of the enterprises capable of mass producing IC carrier boards. With leading technical strength and reliable product quality, Hongban Technology has established a deep customer base in multiple fields such as consumer electronics, automotive electronics, high-end displays, and communication electronics. In the field of consumer electronics, the company has established long-term stable cooperative relationships with global well-known end brands such as OPPO, vivo, Honor, Transsion, and Motorola, as well as global leading ODM companies such as Huaqin Technology, Wingtech Technology, LONGCHEER, and well-known lithium battery manufacturers such as Dongguan Xinengde, Sunwoda Electronic, and Shenzhen Desay Battery Technology. In the automotive electronics field, the company maintains close cooperation with global well-known EMS companies such as Venture Corporation, global well-known automotive component suppliers such as Kemet, Marelli, and BYD Company Limited, a global well-known new energy vehicle manufacturer. In the field of high-end displays, the company has established stable cooperative relationships with leading LED display companies such as Shenzhen MTC Co.Ltd and Unilumin Group. In the field of communication electronics, the company provides high-quality PCB products for wireless communication module manufacturers such as Quectel Wireless Solutions and Fibocom Wireless Inc. High-quality customer resources have laid a good foundation for the company's further development. In terms of finances, in the fiscal years of 2023, 2024, and 2025, the company achieved operating revenues of approximately 2.34 billion yuan, 2.70 billion yuan, and 3.67 billion yuan respectively. During the same period, net profits were approximately 105 million yuan, 214 million yuan, and 540 million yuan respectively.