Chinese electronics manufacturing company Delton Technology (Guangzhou) Inc. is planning to raise capital from international investors by launching an H-shares IPO on the Hong Kong Stock Exchange.
The company is already listed in China on the Shenzhen Stock Exchange, but it is now pursuing a Hong Kong listing to expand its reach to global investors.
This IPO comes at a time when demand for:
- AI servers
- Cloud data centers
- High-performance computing hardware
is increasing rapidly.
All of these sectors require advanced Printed Circuit Boards (PCBs), which is the core business of the company.
Company Introduction
Delton Technology (Guangzhou) Inc. is a Chinese electronics manufacturing company that focuses on the development, production, and sale of Printed Circuit Boards (PCBs).
Basic Information
| Details | Information |
| Founded | 2002 |
| Headquarters | Guangzhou, China |
| Industry | Electronic Components / PCB |
| Employees | Around 3,500 |
| A-Share Stock Code | 001389 |
| Hong Kong Stock Code | 1989 |
The company’s main production bases are located in Dongguan and Huangshi.
What the Company Produces
PCBs are one of the most important components in any electronic device because they connect all electronic parts together.
Main Products
- Single-sided PCB
- Double-sided PCB
- Multilayer PCB
- AI server motherboard PCB
- IoT module boards
- Automotive electronic cooling plates
Where the Products Are Used
The company’s PCB products are used in several industries:
- Artificial Intelligence servers
- Cloud data centers
- 5G communication equipment
- Automotive electronics
- Industrial control systems
- Consumer electronics
Currently, AI data centers and servers are the biggest drivers of demand.
Business Model
The company generates most of its revenue through customized PCB manufacturing.
Revenue Sources
- Server motherboard PCBs
- Industrial electronics circuit boards
- AI computing hardware boards
- Customized electronic circuit solutions
PCBs are considered a core component in the electronics supply chain.
Delton Technology IPO Details
IPO Structure
| Details | Information |
| Exchange | Hong Kong Stock Exchange |
| Stock Code | 1989 |
| Total Shares Offered | 46,000,000 H Shares |
| Hong Kong Public Offer | 4,600,000 Shares |
| International Offer | 41,400,000 Shares |
| Nominal Value | RMB 1.00 per share |
| Maximum Offer Price | HK$71.88 per share |
Additional Fees
Apart from the offer price, investors must also pay:
- Brokerage: 1%
- SFC transaction levy: 0.0027%
- Trading fee: 0.00565%
- AFRC levy: 0.00015%
Previously Listed A-Share IPO
The company had already launched an IPO in China.
| Detail | Information |
| Exchange | Shenzhen Stock Exchange |
| Stock Code | 001389 |
| IPO Price | 17.43 yuan |
After this listing, the wealth of the company’s founder increased significantly.
Financial Details
The company’s financial results show that its business has been expanding rapidly.
Revenue Growth
| Year | Revenue |
| 2023 | RMB 2.68 billion |
| 2024 | RMB 3.73 billion |
| TTM 2025 | RMB 4.89 billion |
- Revenue increased by about 39% in 2024.
- Over the last twelve months, revenue has shown around 43% growth.
This indicates strong demand for the company’s products.
Net Profit Growth
| Year | Net Profit |
| 2023 | RMB 414.69 million |
| 2024 | RMB 676.1 million |
- Net profit increased by approximately 63%.
- Earnings per share rose from 1.09 yuan to 1.66 yuan.
Revenue Segments
| Segment | Revenue Share |
| Server / Computing PCBs | ~70% |
| Consumer Electronics | ~11% |
| Industrial Electronics | ~7% |
The server PCB segment is the company’s largest revenue driver.
Customers
- Total customers: 200+
- Direct customers: 155
- Revenue from top 5 customers: approximately 59%
This indicates that the company serves several large enterprise clients.
Use of IPO Funds
The company plans to use the IPO proceeds for:
- High-performance server PCB manufacturing
- Expansion in AI computing hardware
- Intelligent manufacturing plants
- Production capacity expansion
- Global market expansion
Risk Factors
Investors should also consider certain risks:
- Electronics industry is cyclical
- Semiconductor supply chain risks
- Global technology competition
- Geopolitical tensions
Outcome
Delton Technology (Guangzhou) Inc. is a fast-growing Chinese PCB manufacturing company that supplies hardware for AI servers, cloud computing, and data-center infrastructure.
The company is already listed on the Shenzhen Stock Exchange and is now planning a Hong Kong IPO (Stock Code: 1989) to raise capital from international investors.
With the rapid expansion of AI computing and global data-center infrastructure, the sector shows strong long-term growth potential.
Source: Prospectus
