Core Viewpoint - Guangzhou Guanghe Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, aiming to become a leading manufacturer of key components for computing servers, specifically customized PCBs [2]. Company Overview - Guanghe Technology is recognized as the leading manufacturer of computing server PCBs in mainland China and ranks third globally, holding a market share of 4.9% [2]. - The company also leads in the manufacturing of CPU motherboard PCBs for computing servers in mainland China and ranks third globally, with a market share of 12.4% [2]. Financial Performance - Revenue projections for Guanghe Technology from 2022 to 2024 are as follows: RMB 2.412 billion, RMB 2.678 billion, and RMB 3.734 billion, respectively [3]. - Net profit for the same period is projected to be RMB 280 million, RMB 415 million, and RMB 676 million, respectively [3]. - In Q1 2025, the company reported a revenue of RMB 1.117 billion, representing a year-on-year growth of 42.41%, and a net profit of RMB 240 million, up 65.68% year-on-year [4]. Shareholding Structure - Prior to the IPO, the couple Xiao Hongxing and Liu Jinchang held a combined 53.81% stake in the company [6]. Management Team - Xiao Hongxing, aged 58, has over 30 years of experience in the electronics industry and has been the chairman since March 2013 [8]. - Zeng Hong, also aged 58, has been the general manager since February 2013 and has extensive experience in PCB production and quality management [9].

Group 1 - Company Guanghe Technology (001389) has submitted an application for H-share listing on the Hong Kong Stock Exchange, with a maximum issuance of H-shares not exceeding 20% of the total share capital post-issuance [2] - The funds raised will be used for product research and development, expansion of product applications, capacity expansion, overseas market development, and general corporate purposes [2] - Guanghe Technology is a leading manufacturer of key components for computing servers, focusing on customized PCBs for various applications including computing, industrial, and consumer sectors [2][3] Group 2 - According to Frost & Sullivan, Guanghe Technology ranks first among PCB manufacturers for computing servers in mainland China and third globally, with a market share of 4.9% [3] - The company has shown significant revenue growth, with projected revenues of approximately 24.12 billion yuan, 26.78 billion yuan, and 37.34 billion yuan for 2022, 2023, and 2024 respectively, reflecting year-on-year growth rates of 16.23%, 11.02%, and 39.43% [3] - The net profit attributable to shareholders is expected to reach approximately 2.80 billion yuan, 4.15 billion yuan, and 6.80 billion yuan for the same years, with growth rates of 176.63%, 48.29%, and 63.04% respectively [3]