On October 21st, Qiangda Circuit (301628.SZ) started the subscription, with an issue price of 28.18 yuan per share, a subscription limit of 0.0185 million shares, a PE ratio of 24.98 times, listed on the Shenzhen Stock Exchange, with China Merchants Securities as the sponsor and lead underwriter.
According to the Financial News APP, on October 21st, Qiangda Circuit (301628.SZ) started the subscription, with an issue price of 28.18 yuan per share, a subscription limit of 0.0185 million shares, a PE ratio of 24.98 times, listed on the Shenzhen Stock Exchange, with China Merchants Securities as the sponsor and lead underwriter.
The prospectus shows that Qiangda Circuit has been deeply involved in the PCB industry for twenty years, with its main business being the research, production, and sale of PCBs, focusing on middle to high-end samples and small batch PCBs. The company's orders exhibit the demand characteristics of "multiple varieties, small batches, high quality, and rapid delivery." With rapid response, flexible production, fine management, intelligent manufacturing, and excellent service level, the company is dedicated to meeting the professional PCB requirements of customer electronic products in the research, development, testing, and small batch stages, widely used in industrial control, communications equipment, automotive electronics, consumer electronics, medical health, and semiconductor testing applications, among others.
During the reporting period, Qiangda Circuit served nearly 3,000 active customers, mainly categorized into professional electronic product manufacturers, PCB traders, and PCB producers. Among the company's customers, electronic product manufacturers mainly include Suzhou Hyc Technology (688001.SH), Anhui Tatfook Technology (300134.SZ), Scanfil, Phoenix, Yibo Technology (301366.SZ), Shenzhen Inovance Technology (300124.SZ), Suzhou Chunxing Precision Mechanical (002547.SZ), Wuhan Fingu Electronic Technology (002194.SZ), and Global Photonics Microelec (603375.SH), etc.
Currently, over half of the global PCB production capacity is concentrated in mainland China. The PCB industry in China has high marketization, with numerous enterprises, especially fierce competition in the bulk board enterprise market. According to data from the Prospective Industry Research Institute, there are over 2,000 PCB manufacturing enterprises in mainland China, mostly mid-to-low-end batch board production manufacturing enterprises. In the more specialized production areas such as middle to high-end samples and small batch boards, domestic producers, represented by Suzhou Hyc Technology and Qiangda Circuit, mainly dominate the domestic market, allowing for large-scale, customized PCB production.
Having deeply cultivated the PCB industry for twenty years, Qiangda Circuit is a PCB enterprise focusing on middle to high-end samples and small batch boards. In the fiscal years 2021 to 2023, the company has been named one of the top 100 companies in the Chinese electronic circuit industry by the China Electronic Circuit Industry Association for three consecutive years, ranking 84th, 80th, and 82nd among comprehensive PCB enterprises, and 51st, 48th, and 53rd among domestic PCB enterprises.
Financially, in 2021, 2022, 2023, and January to June 2024, Qiangda Circuit achieved operating incomes of approximately RMB 0.71 billion, 0.731 billion, 0.713 billion, and 0.389 billion, with corresponding net profits of approximately 68.0691 million, 90.9007 million, 91.0641 million, and 56.0195 million yuan.