Suzhou Dongshan Precision Manufacturing (02384) Debuts on HKEX: "A+H" Dual-Capital Layout Takes Shape, PCB and Optical Modules Twin Engines Capture Growth Opportunities

AI computing power "shovel seller" Suzhou Dongshan Precision Manufacturing (02384) officially listed on the Hong Kong Stock Exchange today (October 28). With the successful H-share listing, the company will formally establish an "A+H" dual-listing platform layout, opening up domestic and overseas financing channels and injecting capital momentum into high-end capacity investment and global business expansion. Suzhou Dongshan Precision Manufacturing's cornerstone lineup is impressive, with nearly 20 cornerstone investors collectively subscribing US$680 million, bringing together top international asset managers, first-tier industrial capital, and well-known long-only institutions, including JPMorgan Asset Management (Asia Pacific), Alibaba Investment, CPE Bodhi, Ruiyuan Fund, Orient Asset Management (Hong Kong) Limited, Nexchip Semiconductor Corporation Hong Kong, and other first-tier industrial capital and well-known long-only institutions, demonstrating recognition from upstream and downstream of the industry chain for the long-term value of its PCB and optical module tracks. As a globally leading electronic intelligent manufacturing enterprise, Suzhou Dongshan Precision Manufacturing focuses primarily on PCBs, precision components, touch panels and LCD modules, and optical modules, among which "AI PCB + optical modules" are its two core tracks for accelerated growth. According to CIC data, based on 2025 revenue, the company is the third-largest PCB supplier in the US$85.2 billion global PCB market; through Source Photonics, the company ranks seventh in the US$24.5 billion global optical module market with a market share of 2.9%. With the continued rise of its optical module business, Suzhou Dongshan Precision Manufacturing's performance has entered a stage of accelerated release. In the first half of this year, the company achieved operating revenue of RMB27.798 billion, up 63.95% year on year; achieved net profit attributable to shareholders of the listed company of RMB2.957 billion, up 290.09% year on year. It achieved net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses of RMB2.48 billion, up 277.52% year on year. The continued introduction of new customers and new products in the optical module business validated the company's dual-engine structure of "PCB stabilizing the base, optical modules boosting profit." As one of the few companies in the industry simultaneously holding two core AI computing hardware tracks"PCB" and "optical modules"Suzhou Dongshan Precision Manufacturing's listing in Hong Kong is expected to leverage the Hong Kong capital market to connect global resources, continue to step up high-end capacity and technological iteration, amplify the integrated synergy of PCBs and optical modules, and tap the medium- to long-term growth potential of the AI computing power track.