Company Overview - Honghe Electronic Materials Technology Co., Ltd. specializes in the research, production, and sales of mid-to-high-end electronic-grade fiberglass cloth and yarn, achieving integrated production and operation of electronic yarn and cloth, making it a global leader in this sector [1][2] - The company was established on August 13, 1998, and was listed on the Shanghai Stock Exchange on July 19, 2019, with a registered capital of 879,727,500 RMB [1] Main Business and Products - The company focuses on high-performance fiberglass and composite materials, which are essential raw materials for manufacturing core copper foil substrates in electronic products, widely used in smartphones, tablets, laptops, high-speed servers, communication base stations, automotive electronics, and IC substrates [1][2] - Honghe has successfully developed various high-end ultra-thin fabrics and fibers, breaking international monopolies and reaching internationally leading quality and performance levels [2][3] Financial Data and Indicators - As of March 31, 2025, the company reported total assets of 251,517.57 million RMB, with total liabilities of 103,400.76 million RMB, resulting in total equity of 148,116.81 million RMB [3] - The company’s revenue for the first quarter of 2025 was 24,599.51 million RMB, with a net profit of 3,087.32 million RMB [3] - The gross profit margin for the main business was reported at 28.82% for 2022, with fluctuations in subsequent years [7] Market Position and Clientele - The company has established long-term stable partnerships with major global PCB manufacturers, including Shengyi Technology, Unimicron Technology, Panasonic, and Doosan Electronics, positioning itself within the leading PCB industry chain [2][3] Fundraising and Investment Plans - The company plans to raise up to 994.61 million RMB through a specific issuance of A-shares, with the funds allocated for projects including the construction of high-performance fiberglass yarn production lines and a research center for high-performance special fiberglass [12][16] - The total investment for these projects is estimated at 1,092 million RMB, with the net proceeds from the fundraising expected to cover a significant portion of this amount [16]