DYNAMIC ELECTRONICS (603175.SH): files for listing on HKEX: No.1 Auto HDI

NewTimeSpace News: On 21 September 2026, Dynamic Electronics Co., Ltd. (stock code: 603175.SH) submitted an application for listing to The Stock Exchange of Hong Kong Limited, with China International Capital Corporation Hong Kong Securities Limited and Guolian Securities International Capital Market Co., Limited acting as joint sponsors. The Company is a globally recognised high-end printed circuit board (PCB) manufacturer and one of the world's leading automotive PCB suppliers. Established in 2015, with PCB business origins dating back to 1988, it produces double-sided boards, multilayer boards and high-density interconnect (HDI) boards, with principal production bases in Huangshi and Kunshan in the PRC and a strategic overseas manufacturing base in Thailand; its A shares are listed on the Shanghai Stock Exchange.

According to a Frost & Sullivan report, by sales revenue the Company ranked eighth globally in automotive PCB in 2025 and sixth globally in the first half of 2026, and ranked first globally in automotive HDI boards and third globally in both memory module PCB and AI data storage PCB. Its customers include four of the world's top ten automotive Tier-1 suppliers, three of the world's top four DRAM manufacturers and all of the world's top five display panel manufacturers, as well as multiple leading players across the AI ecosystem.

Revenue was RMB 4,752.3 million in 2025, a compound annual growth rate of 14.0% from 2023 to 2025, and RMB 2,912.0 million in the first half of 2026, up 33.3% year on year. In the first half of 2026, automotive electronics, data storage and telecommunication and AI server applications accounted for 51.4%, 15.8% and 10.0% of total revenue respectively, while sales to overseas markets and PRC bonded zones accounted for 71.8% of total revenue. The Company has commercial production capability for six-order HDI, 50-layer asymmetric stackups and up to 12-layer any-layer HDI products.

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