KINWONG (603228.SH): passes listing hearing on HKEX; the world's largest automotive electronics PCB supplier set for Hong Kong listing

NewTimeSpace News: On 7 September 2026, Shenzhen Kinwong Electronic Co., Ltd. (A-share stock code: 603228) passed the listing hearing of The Stock Exchange of Hong Kong, with CITIC Securities, BofA Securities and Guolian Securities International acting as joint sponsors. The company is a globally recognized printed circuit board (PCB) manufacturer driven by technological innovation and distinguished by comprehensive product coverage, offering PCBs spanning single/double-layer boards, multilayer PCBs (MLPCB), high-density interconnect (HDI) PCBs, flexible printed circuits (FPC) and IC packaging substrates, and providing the interconnection foundation for global customers in automotive electronics, communications and data infrastructure, smart devices and industrial control.

According to CIC, the company was the world's largest automotive electronics PCB supplier by 2025 revenue, with a market share of 10.6%, and ranked eleventh among global PCB suppliers with a market share of 2.5%. Eight of the world's top ten Tier 1 automotive suppliers are the company's customers, and its PCB products are widely deployed in vehicles from the world's top ten automotive groups, with the capability to supply all PCBs required by a single vehicle.

The company has achieved mass production of LiDAR boards, fifth- and sixth-generation millimeter-wave radar boards, high-end HDI boards for ADCU and high-voltage PCBs for 400V/800V electrical platforms, and possesses manufacturing capabilities for seventh-generation millimeter-wave radar boards and HDI PCBs for multi-domain controllers for autonomous driving. In the AI computing infrastructure space, the company has mass-produced high-end PCBs including high-multilayer PCBs with more than 40 layers, 6-order 22-layer HDI PCBs, 14-layer HDI PCBs using the mSAP process and multilayer PTFE FPCs, and possesses manufacturing capabilities for high-multilayer PCBs with more than 70 layers, 9-order 28-layer HDI PCBs, 12-layer any-layer rigid-flex boards and high-speed FPCs, while having commenced customer certification of 11-order HDI PCBs; its 9-order HDI PCBs obtained customer certification in just 90 days.

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