Han's CNC Technology IPO: China's Largest PCB Equipment Maker Goes Public
Shenzhen-based Han's CNC Technology is raising $619 million through a Hong Kong IPO on February 6, offering dual-listing access for the leading PCB manufacturing equipment provider.
Han's CNC Science and Technology Co., Ltd., a major provider of printed circuit board (PCB) manufacturing equipment, is set to list on the Hong Kong Stock Exchange on February 6, 2026. The company is offering approximately 50.45 million H-shares at HKD 95.80 per share, aiming to raise HKD 4.83 billion (approximately $619 million). This represents a dual listing strategy, as the company is already traded on the Shenzhen Stock Exchange under stock code 301200.SZ.
Comprehensive PCB Equipment Portfolio
Established in 2002, Han's CNC is a national high-tech enterprise that provides equipment solutions covering the entire PCB manufacturing process. The company's product line addresses all types of PCB products, including conventional rigid multilayer PCBs, high-density interconnect (HDI) PCBs, substrate-like PCBs (SLPs), IC substrates, and flexible PCBs (FPC). Their equipment covers key manufacturing procedures such as drilling, exposure, routing, electrical performance testing, automatic optical inspection, stiffening, and sorting and packaging.
International Market Expansion
The Hong Kong listing is part of Han's CNC's strategy to enhance its competitiveness in international markets and access global capital. The company has appointed Ernst & Young as its auditor for the offering. With more than 20 years of experience in PCB equipment manufacturing, Han's CNC integrates technology research, product development, production, and sales operations from its Shenzhen headquarters.
PCB Industry Growth Drivers
The PCB equipment market continues to expand as electronics manufacturers pursue higher density interconnects and more sophisticated circuit designs. Demand for HDI PCBs and IC substrates has accelerated with the proliferation of 5G devices, AI computing systems, and electric vehicles. Han's CNC's ability to provide end-to-end manufacturing solutions for these advanced PCB types positions the company to benefit from ongoing technological advancement in the electronics supply chain.
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