IPO News | Dahan CNC, 'China's largest manufacturer of PCB specialized production equipment,' has launched its IPO and is scheduled to be listed on February 6, with a minimum subscription amount of HKD 9,676.61

Futu Information reported on January 29 that $HANS CNC (03200.HK)$ Announcement released: The company will offer shares to the public from January 29 to February 3, with a plan to globally distribute approximately 50.4518 million shares, expecting to be listed on February 6.

Company Overview

Shenzhen Dajia CNC Technology Co., Ltd was established in 2002 and listed on the ChiNext Board of the Shenzhen Stock Exchange in 2022, with the stock code $Shenzhen Han’s CNC Technology (301200.SZ)$ . Dajia CNC is a leading provider of specialized production equipment solutions for PCBs in China, mainly engaged in the research, production, and sales of dedicated PCB production equipment.

Dajia CNC is one of the companies with the most extensive process solution coverage in the global field of specialized PCB production equipment; covering all sub-categories of PCB products including standard rigid multi-layer boards, high-density interconnect boards (HDI), substrate-like boards (SLP), integrated circuit substrates (IC Substrate), flexible and rigid-flex boards (FPC & Flex-Rigid) for key processes such as drilling, exposure (inner layer, outer layer, solder mask), shaping, electrical performance testing, reinforcement attachment, and automation. It provides multiple series and types of process solutions including mechanical drilling machines, CO2/UV/ultrafast laser drilling machines, LDI direct laser imaging solutions, mechanical shaping, laser shaping solutions, specialized/general/high-precision testing solutions, steel reinforcement machines, and auxiliary material attachment.

Since 2009, by revenue, the company has ranked first in the CPCA Specialized Equipment and Instruments list for 16 consecutive years. According to data from灼识咨询(ChewShi Consultancy), based on 2024 revenues from specialized PCB production equipment, the company ranks first in the Chinese market with a 10.1% market share in China.

Financial Overview

For the fiscal years 2022, 2023, 2024, and the ten months ended October 31, 2025, the company recorded RMB revenues of 2.786 billion, 1.634 billion, 3.343 billion, and 4.314 billion, respectively. During the same periods, the company’s annual/period profits were RMB 432 million, 136 million, 300 million, and 519 million, respectively.

Cornerstone Investor

The cornerstone investors have agreed to subscribe for, or cause their designated entities to subscribe for, a total of approximately 310 million USD worth of placement shares at the offer price, subject to certain conditions. The cornerstone investors include:

Hongxing International, GIC Private Limited, Schroders, HHLRA, MSIP, Fullgoal, Tibet Yuan Lesheng, and CICC Financial Trading Limited (related to Tibet Yuan Lesheng OTC swaps), ICBC Wealth Management, Wind Sabre, and Owei Hong Kong.

Use of Proceeds

In terms of fundraising purposes, Dajia CNC expects net proceeds from the global offering to amount to approximately HKD 4.631 billion (assuming the over-allotment option is not exercised and based on an offer price of HKD 95.8). According to the prospectus, Dajia CNC intends to use the proceeds from the global offering for the following purposes:

Approximately 50.0% of the net proceeds will be used to enhance R&D and operational capabilities. Approximately 40.0% of the net proceeds will be allocated to increase production capacity for PCB-specialized equipment. Around 10.0% of the net proceeds will be utilized for working capital and general corporate purposes.