According to the Zhitong Finance App, Jingwang Electronics (03228) will raise shares from September 21, 2026 to September 24, 2026. It plans to sell 72.944,300 H shares globally. The Hong Kong public sale accounts for about 10.0%, and the international sale accounts for about 90.0%. The offer price will not exceed HK$69.88 per share offered. For each lot of 100 shares, H shares will begin trading on the Stock Exchange at 9:00 a.m. on September 29, 2026.
According to reports, the company is a world-renowned PCB manufacturer driven by technological innovation and characterized by a comprehensive product layout. The company's PCBs provide connectivity infrastructure for global customers in the fields of automotive electronics, communication and data infrastructure, smart devices, and industrial control. With the company's PCB products and intelligent manufacturing capabilities, the company has become a leader in the global automotive electronics PCB industry and one of the few suppliers of core components of AI computing infrastructure. Relying on leading technical advantages in the field of high-end HDI and HLC PCBs and a long-term oriented high-end production capacity layout, the company can meet the diverse needs of global customers and seize important growth opportunities in the AI era.
Assuming that the sale price was HK$69.88 per share, the net proceeds from the global sale were approximately HK$4.960.6 billion. Among them, about 60% of the net proceeds will be used to expand and upgrade the company's production capacity for high-value-added products to meet AI-driven demand and enhance the company's production capacity. Approximately 15% of the net proceeds will be used to enhance the company's R&D and technical reserves in the field of next-generation electronic information technology. Approximately 15% of the net proceeds will be used to repay part of the company's existing interest-bearing bank loans. Approximately 10% of the net proceeds will be used for working capital and other general corporate purposes, including material procurement, employee compensation, logistics and other daily operating needs to support the continued expansion and globalization of the company's business.
In addition, the company has signed a Cornerstone Investment Agreement with Cornerstone Investors, who have agreed to subscribe for the relevant number of shares to be purchased at a total price of approximately US$310 million. Cornerstone investors include: CPE Redwood Investment Limited, Zhongji Innovation Co., Ltd., Hong Kong Mason Electronics Co., Ltd., Shanghai Cambridge Technology Co., Ltd., Singpoint Asset Management Co., Ltd., E-Fangda Asset Management (Hong Kong) Co., Ltd., Bosch Fund (International) Co., Ltd., Seven Grand Managers, LLC, 3W Fund Management Limited, Tianhong Fund Management Co., Ltd., Ninety One Asia Pte. Limited, JPMorgan Asset Management (Asia Pacific) Limited, Baring Asset Management (Asia) Co., Ltd., and Jiantao Investment Co., Ltd.