New IPO News | 'PCB Direct Imaging Equipment Supplier' Sino Lithography has launched its IPO subscription, planning to list on June 26, with a board lot subscription amount of HK$12,763.94

Futu News reported on June 17, $CFMEE (09630.HK)$ The company announced that the IPO subscription period will run from June 17 to June 23. It plans to globally offer approximately 12.8387 million shares, with listing expected on June 26.

Company Overview

Sino Lithography is the world’s largest supplier of PCB direct imaging equipment, providing PCB direct imaging and semiconductor maskless lithography equipment in the AI era. Leveraging its mature capabilities in core high-precision micro-nano lithography technology development and applying its proprietary technologies to diverse innovative applications, the company is committed to manufacturing, selling, and servicing direct imaging and maskless lithography equipment for global customers.

The company has established a comprehensive R&D technology framework covering light sources and exposure engines, precision wafer stages, alignment and focus systems, data pathways, and modular system integration design. Focused on delivering innovative, stable, and reliable micro-nano maskless lithography equipment, the company strives to maximize value for its clients. During the historical reporting period, its product portfolio primarily included PCB direct imaging equipment and automated production lines, as well as semiconductor maskless lithography equipment and automated production lines.

Financial Summary

Sino Lithography’s revenue increased from RMB 828.9 million in 2023 to RMB 953.9 million in 2024, and further rose to RMB 1,408.1 million, representing a compound annual growth rate (CAGR) of 30.3% from 2023 to 2025.

The company's gross profit decreased from RMB 338.8 million in 2023 to RMB 338.7 million in 2024, and further increased to RMB 551.0 million, representing a compound annual growth rate (CAGR) of 27.5% from 2023 to 2025. The company recorded net profits of RMB 179.3 million, RMB 160.7 million, and RMB 289.9 million in 2023, 2024, and 2025, respectively.

Source: Prospectus

Use of Proceeds

Regarding the use of proceeds, KingQuik Microfabrication expects the net proceeds from the global offering to amount to approximately HKD 3.073 billion (assuming the over-allotment option is not exercised and calculated based on the mid-point of the offering price range at HKD 246.41 per share). According to the prospectus, KingQuik Microfabrication intends to allocate the proceeds from the global offering for the following purposes:

Approximately 25% will be used to enhance the company's research and development capabilities; approximately 18% will be used to expand the company's overall production capacity; approximately 27% will be allocated for strategic investments and/or acquisitions; approximately 20% will be used to expand the company's international sales business and develop its overseas sales and service network; and approximately 10% will be used for working capital and other general corporate purposes.

Further reading:KingQuik Microfabrication Prospectus

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Editor/Joe

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