WUS(SZ:002463) Zhi Tong Cai Jing·2025-10-14 05:54Core Viewpoint - Huada Technology Co., Ltd. (沪电股份) is planning a potential Hong Kong IPO with a target fundraising amount of at least $1.5 billion to optimize its overseas business layout and diversify financing channels [1][2]. Group 1: IPO Plans - Huada Technology is collaborating with banks for a potential Hong Kong listing, with the issuance scale and timing still under discussion [1]. - The company has selected China International Capital Corporation (中金公司) and HSBC to manage the stock issuance [1]. Group 2: Business Performance - In the first half of 2025, Huada Technology's export revenue reached 6.893 billion yuan, a year-on-year increase of 48.59%, accounting for 81.16% of total revenue [2]. - The company has been recognized as one of the top brands in the PCB industry, consistently listed among the top 100 PCB companies by various industry associations and research institutions [1]. Group 3: Investment and Expansion - In 2022, Huada Technology invested $280 million to establish a manufacturing facility in Thailand, which commenced operations on April 1, 2023 [2]. - The Thailand production base is expected to enter small-scale production in the second quarter of 2025 [2].