New IPO News | Sanhuan Group, an 'electronic ceramics materials provider,' has launched its initial public offering and plans to list on July 9, with a minimum subscription amount of HK$10,131.16 per lot

Futu News, June 30: $CCTC (06951.HK)$ The company announced that the subscription period will run from June 30 to July 6. It intends to globally offer approximately 71,364,300 shares, with listing expected on July 9.

Company Overview

Sanhuan Group has specialized in electronic ceramics materials and components for over 55 years, maintaining a consistent focus on this domain. The company has built a product portfolio comprising four major categories: electronic and ceramic materials, electronic components, communication devices, and equipment modules. This framework spans core application areas including telecommunications, AI and data centers, consumer electronics, automotive electronics, semiconductor manufacturing and packaging, new energy, and intelligent industrial control, encompassing foundational materials, key components, and high-end devices and modules.

Sanhuan Group’s R&D organization includes an institute and technical teams across business units, covering raw material formulations, forming, and sintering processes. The company holds numerous patents and has participated in the formulation and revision of multiple industry standards. It aims to translate materials and process R&D into scalable, mass-production-ready product platforms. In terms of manufacturing, the company operates multiple domestic production bases and strategic overseas facilities, enabling cross-site capacity allocation, supported by a sales network covering major global markets.

Financial Summary

In 2023, 2024, and 2025, Sanhuan Group reported revenues of RMB 56,815 million, RMB 72,661 million, and RMB 88,685 million, respectively; gross profits of RMB 21,541 million, RMB 29,753 million, and RMB 35,428 million, respectively; and net profits of RMB 15,832 million, RMB 21,902 million, and RMB 26,170 million, respectively.

Source: Prospectus

Use of Proceeds

Regarding the use of proceeds, Sanhuan Group expects net proceeds from the global offering to amount to approximately HK$7.046 billion (assuming the over-allotment option is not exercised and calculated based on the maximum offer price of HK$100.3 per share). According to the prospectus, Sanhuan Group intends to allocate the proceeds from the global offering as follows:

Approximately 41.2% will be invested in new and expanded overseas projects and automation initiatives to enhance production capacity, improve efficiency, and strengthen supply chain resilience; approximately 48.8% will be used for technological upgrades and materials innovation to reinforce its integrated technological moat, support global business expansion, and advance domestic substitution in key areas; and approximately 10% will be allocated to working capital and other general corporate purposes.

Further reading:Sanhuan Group Prospectus

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