Qiangda Circuit (301628.SZ), a PCB company focusing on high-end models and small-batch boards, plans to IPO 18.84 million shares with an issue price of 28.18 yuan/share

According to the Zhitong Finance App, Qiangda Circuit (301628.SZ) issued an initial public offering of shares and a prospectus for listing on GEM. The current public offering of 18.844 million shares accounted for 25% of the company's total share capital after issuance. This offering does not involve the public sale of shares by the company's shareholders. The issue price per share was RMB 28.18. The online subscription date is October 21, 2024, and the payment date is October 23, 2024.

According to reports, the company has been deeply involved in the PCB industry for 20 years. Its main business is PCB R&D, production and sales. It is a PCB enterprise focusing on high-end models and small-batch boards. With quick response, flexible production, fine management, intelligent manufacturing and excellent service levels, the company is committed to meeting the professional needs of customers' electronic products for PCBs in the research, development, testing and small-batch stages. The products are widely used in industrial control, communication equipment, automotive electronics, consumer electronics, healthcare and semiconductor testing.

The company's PCB products are divided into models, small-batch boards and high-batch boards according to the order area, and are classified into single/double panels and multi-layer boards according to the number of product layers. In 2023, the company's models, small-batch boards, and high-volume boards accounted for 48.70%, 34.36%, and 16.94% of PCB product revenue, respectively; single/double panels and multi-layer boards accounted for 18.06% and 81.94% of PCB product revenue, respectively. The company covers many customer fields and a wide range of product applications. In the process of cooperation with customers, the company has formed a large number of high-end PCB process capabilities covering special processes or materials, and has created a rich customized PCB product system. The company's high-end PCB products with special processes or materials mainly include: high multilayer boards, high frequency boards, high speed boards, HDI boards, thick copper plates, rigid-flex boards, semiconductor test boards, millimeter wave radar boards, etc.

The company achieved net profit of 68.691 million yuan, 909.07 million yuan, and 910.641 million yuan in 2021, 2022, and 2023 respectively.

After deducting the issuance fee, the funds raised in this initial public offering will be invested in the following projects according to priority: 1. Nantong Qiangda Circuit Technology Co., Ltd. plans to raise 480 million yuan in capital raising projects with an annual output of 960,000 square meters; 2. To supplement the working capital project, it is planned to invest 120 million yuan in capital raised.