New stock news | Chaozhou Three-Circle (Group) (300408.SZ) has conducted a hearing at the Hong Kong Stock Exchange and has established a portfolio of four major product categories including electronic and ceramic materials, electronic components, etc.

According to the disclosure of the Hong Kong Stock Exchange on June 18th, Chaozhou Three-Circle (Group) Co., Ltd. (referred to as Chaozhou Three-Circle (Group)(300408.SZ)) conducted its listing hearing on the main board of the Hong Kong Stock Exchange, with China Galaxy International as the exclusive sponsor. The prospectus shows that Chaozhou Three-Circle (Group) focuses on the field of electronic ceramic materials and components. The company has built up four categories of products including electronic and ceramic materials, electronic components, communication devices, and equipment components, covering core application areas such as communication, AI and data centers, consumer electronics, automotive electronics, semiconductor manufacturing and packaging, new energy, intelligent industrial control, etc., encompassing the business framework of basic materials, key components, and high-end devices and components. The company focuses on the upstream basic materials of the electronic industry chain, mainly including aluminum oxide ceramic substrates, aluminum nitride ceramic substrates, electronic pastes, and solid oxide fuel cell ("SOFC") membranes. Electronic and ceramic materials, as upstream core materials, are applied in fields such as consumer electronics, automotive electronics, and new energy, collectively supporting the manufacturing of electronic components and the application of new energy fuel cells. For example, aluminum oxide ceramic substrates provide electrical insulation, heat dissipation, and mechanical support for chip resistors in consumer electronics; the electronic paste series includes resistors, masks, conductors, and secondary resin pastes, used in electrode printing for precision electronic components; and SOFC membranes conduct oxygen ions and separate fuel from oxidizers, promoting chemical energy conversion to electrical energy in high-temperature environments, serving as a core component of solid oxide fuel cells. The company's electronic component product matrix includes multilayer ceramic chip capacitors (MLCC), multilayer ceramic chip inductors (MLCI), and fixed resistors. Capacitors, inductors, and resistors are the three major basic passive components widely used in circuits. MLCC has become the main driver for revenue growth in this category. With the technical capabilities accumulated by the company over the years and continuous research and development investment, the company has expanded its product lines and achieved scale supply to meet diversified application scenarios. Meanwhile, the company synergizes the supply of MLCC, MLCI, and resistors to meet customers' one-stop procurement service needs, enhancing the adaptability of multi-category components. The company focuses on the core demand for optoelectronic communication components and semiconductor packaging, forming a diversified product matrix covering optoelectronic communication connections, packaging components, and crystal oscillator packaging. The company's communication device product portfolio includes ceramic inserts and sockets, ceramic packaging bases, mechanical connectors (MT) inserts, short fibers, and optoelectronic ceramic packaging shells. These products correspond to different key links in the communication industry chain, collectively contributing to the company's comprehensive supply capability in the fields of communication, AI and data centers, semiconductor manufacturing, and packaging. The company's equipment component product matrix includes piezoelectric microdispensing systems, wide-band semiconductor ceramic components, compressor terminal blocks, ceramic slicing knives, and SOFC stacks. Based on the accumulation of core technologies in material formulation, material shaping, and other areas, the products provided by the company not only meet the demand for localization and energy transition but also support stable demand in the industrial sector. In terms of finances, the company is expected to achieve revenues of approximately RMB 5.682 billion, RMB 7.266 billion, and RMB 8.869 billion in the years 2023, 2024, and 2025 respectively. During the same period, the annual profits are expected to be approximately RMB 1.583 billion, RMB 2.19 billion, and RMB 2.617 billion.