New stock news | Suzhou Dongshan Precision Manufacturing (002384.SZ) once again submitted documents to the Hong Kong Stock Exchange as the world's largest provider of edge AI equipment PCBs.

According to the disclosure by the Hong Kong Stock Exchange on May 19th, Suzhou Dongshan Precision Manufacturing Co., Ltd. (referred to as Suzhou Dongshan Precision Manufacturing (002384.SZ)) submitted documents to the Hong Kong Stock Exchange Main Board. The joint sponsors for this submission are UBS Group, HAITONG INT'L, GF SEC, and CITIC SEC. The company had previously submitted documents to the Hong Kong Stock Exchange on November 18, 2025. Company Overview According to information from Zhushi Consulting, Suzhou Dongshan Precision Manufacturing is the world's largest supplier of edge AI equipment PCB (with a market share of 26.9%), the second-largest soft board supplier (with a market share of 24.5%), and one of the top three PCB suppliers globally (with a market share of 4.2%) based on revenue in 2025. The company's PCBs, optical modules, precision components, touch panels, and LCD display module products are widely used in consumer electronics, automotive, data centers, communication equipment, and industrial control devices. The company actively leverages its research and development, engineering, supply chain, and operational synergies to provide customers with comprehensive solutions and a diverse product portfolio for top global technology companies. Additionally, according to Zhushi Consulting, the company is the only supplier globally with capabilities in PCBs, optical chips, and optical modules, accounting for approximately 9% to 14% of AI server material costs, positioning the company competitively in the high-growth data center terminal market. Financial Information Revenue: The company's revenue for the fiscal years 2023, 2024, and 2025 was approximately RMB 33.651 billion, RMB 36.770 billion, and RMB 40.125 billion, respectively. Profit: The company's annual profits for the fiscal years 2023, 2024, and 2025 were approximately RMB 1.965 billion, RMB 1.085 billion, and RMB 1.393 billion, respectively. Gross Margin: The company's gross margins for the fiscal years 2023, 2024, and 2025 were 13.9%, 11.5%, and 12.4%, respectively. Industry Overview In 2025, the global data center PCB market was $18.1 billion, the communication sector was $10.2 billion, consumer electronics was $38.5 billion, and automotive was $9.7 billion. With the support of AI and industrial intelligence, these four sub-markets are expected to grow to $36.4 billion, $13.6 billion, $48.1 billion, and $13 billion, respectively, by 2030, with compound annual growth rates of 15.0%, 6.0%, 4.5%, and 6.2%. Due to soft consumer and data center demands, macroeconomic headwinds, and conservative cloud investments reducing overall PCB demand, the global PCB market decreased from $81.7 billion in 2022 to $69.5 billion in 2023, exacerbating industry price competition. PCBs can be divided into single-layer and multi-layer PCBs, HDI, soft boards, and package substrate. In terms of sales revenue in 2025, the global single-layer and multi-layer PCB market size was $41.6 billion, HDI was $15.8 billion, soft boards were $12.9 billion, and package substrates were $14.9 billion. By 2030, the global market sizes of single-layer and multi-layer PCBs, HDIPCBs, soft boards, and package substrates are expected to reach $58.3 billion, $24.5 billion, $15.5 billion, and $25 billion, respectively, with compound annual growth rates of 7.0%, 9.2%, 3.8%, and 10.9%. The global soft board market is showing steady growth, reaching $12.9 billion in 2025 and expected to increase to $15.5 billion by 2030, with a compound annual growth rate of 3.8%. From 2026 to 2030, the consumer electronics market will benefit from the growth in shipments of smart devices such as smartphones, AR/VR devices, and wearable devices, driving the growth of the soft board market. On the other hand, automotive electronics is the fastest-growing application area in the global soft board industry. The commercialization of edge AI technology is becoming a core factor driving the upgrade and value restructuring of the edge AI device industry. Edge AI devices mainly include AI-enabled consumer electronics products, industrial equipment, and medical devices. On one hand, in the AI-enabled consumer electronics field, a new round of hardware upgrades and price increases are further driving market growth. On the other hand, in the AI-enabled automotive industry, edge AI is a key technology in intelligent cockpits for ADAS and Human-Vehicle Cooperative Driving, driving the development of cars from transportation vehicles to mobile intelligent spaces. As a core carrier supporting edge node AI computing, the global edge AI equipment PCB industry has seen rapid expansion as the demand for edge computing power increases. The global edge AI device PCB market is part of the entire global PCB market and is equivalent to the market size of PCBs deployed in edge AI devices. It is an important driver of future growth in the global PCB market, with its market share steadily increasing. In 2025, the global edge AI equipment PCB industry exceeded $11.9 billion, with a compound annual growth rate of 64.2% from 2021 to 2025. Looking ahead, benefiting from the penetration of generative AI in edge scenarios and the acceleration of edge AI device deployment, the market will enter a period of high-speed growth, with the global edge AI equipment PCB market expected to reach $30 billion by 2030, with a compound annual growth rate of 20.4% from 2025 to 2030, significantly higher than the overall growth rate of the global PCB industry. Optical modules are key components that break through data transmission bottlenecks. Driven by the surge in demand for high-frequency, low-latency interconnection due to AI deep model training, the global market grew from $112 billion in 2021 to $245 billion in 2025, with a compound annual growth rate of 21.5%. It is expected to reach $108.6 billion by 2030. Technological iterations support industry growth, including EML solutions retaining their target efficiency advantages, silicon photonics gaining traction in high-speed interconnects, and breakthroughs in upstream optical chips solidifying the industry's foundation. In terms of product lines, 800G modules are experiencing explosive growth; 1.6T products have entered mass production and become a core growth driver; 3.2T products are still under development; while the growth of traditional 400G and lower-speed modules has slowed significantly. From 2021 to 2025, as the demand for computing power driven by AI deep model training and continued infrastructure investments by cloud service providers grows exponentially, global data center construction accelerates. The data communication optical module market grew from $5 billion in 2021 to $19.2 billion in 2025, with a compound annual growth rate of 39.9%. Looking ahead, the demand for flexibility in data communication subunits will further increase. With cloud data center investments shifting towards compute power clusters and the super-linear growth of computing power driven by the expansion of AI models, the data communication market is expected to reach $96.2 billion by 2030, with a compound annual growth rate of 38.1% from 2025 to 2030. In data centers, the demand for extreme bandwidth density and energy efficiency has stimulated the development of low-power solutions, including LPO and CPO technologies, while silicon photonics technology is increasingly penetrating high-speed products due to its high integration and cost advantages. Board of Directors Information The board of directors includes eleven directors, including five executive directors, two non-executive directors, and four independent non-executive directors. The directors serve a three-year term and can be re-elected at the end of their term. According to relevant Chinese laws and regulations, independent non-executive directors may serve for a maximum of six years. Equity Structure Mr. Yuan Fugen, Mr. Yuan Yonggang, and Mr. Yuan Yongfeng are the largest shareholder group. As of the latest practicable date, Mr. Yuan Yonggang directly holds 302,781,254 A shares, of which 104,828,000 A shares have been pledged, and Mr. Yuan Yongfeng directly holds 247,526,917 A shares, of which 56,883,800 A shares have been pledged. As of the latest practicable date, the company holds 5,791,000 A shares as treasury shares, which do not carry any shareholder rights, including but not limited to voting rights and dividend rights. Delic technology is indirectly wholly-owned by Super Yi Group. Intermediary Team Joint Sponsors: UBS Securities Hong Kong Limited, HAITONG INT'L Capital Limited, Guangfa Finances (Hong Kong) Limited, CITIC SEC (Hong Kong) Limited Company Legal Advisor: For Hong Kong and U.S. law: Freshfields Bruckhaus Deringer LLP; For Chinese law: Haiwen & Partners Joint Sponsors Legal Advisor: For Hong Kong and U.S. law: Anderson & Sherman Seth Law Firm; For Chinese law: King & Wood Mallesons Law Firm Auditors and Reporting Accountants: PricewaterhouseCoopers Hong Kong Industry Consultants: Zhushi Industry Consulting Co., Ltd.