Core Viewpoint - Guangzhou Guanghe Technology Co., Ltd. (Delton Technology) is preparing for an IPO on the Hong Kong Stock Exchange, with a total market capitalization of approximately RMB 51 billion as of February 27, 2026 [2]. Company Overview - Guanghe Technology specializes in the research, production, and sales of customized PCBs for computing servers and other computing scenarios, ranking first among PCB manufacturers for computing servers in mainland China and third globally, with a market share of 4.9% [3][4]. - The company has two production bases located in Guangzhou, Guangdong, and Huangshi, Hubei [4]. Financial Performance - The revenue for Guanghe Technology for the years 2022, 2023, 2024, and the first nine months of 2025 was RMB 2.412 billion, RMB 2.678 billion, RMB 3.734 billion, and RMB 3.835 billion respectively, with corresponding net profits of RMB 279.65 million, RMB 414.69 million, RMB 676.1 million, and RMB 723.82 million [11][12]. Shareholder Structure - Prior to the Hong Kong listing, the major shareholders include Mr. Xiao Hongxing and Ms. Liu Jinchang, who collectively hold 53.65% of the shares, making them the controlling shareholders [7][9]. Management Team - The board of Guanghe Technology consists of 79 members, including three executive directors: Mr. Xiao Hongxing (Chairman), Ms. Zeng Hong (General Manager), and Mr. Peng Jinghui (Director of Research Institute) [10].