The Zhitong Finance App learned that on October 20, Dongshan Precision (02384) is now offering shares. The company plans to sell 114 million shares globally, including 11.4 million Hong Kong shares and 103 million shares for international sale. The offering date is from October 20 to October 23. The sale price is HK$93.80, 100 shares per trading unit, and the entry fee is approximately HK$9,380.
As a “seller” of AI computing power, Higashiyama Precision is a manufacturer that mainly focuses on PCBs, precision components, touch panels, liquid crystal display modules, and optical modules. The company's products are widely used in consumer electronics, automobiles, data centers, communication equipment and industrial control equipment. In September 2025, the company expanded its product portfolio to include optical modules by entering the optical module business through the acquisition of Solstice Optoelectronics.
According to Insight Consulting, in terms of revenue in 2025, the company is the third largest PCB supplier in the US$85.2 billion global PCB market; through Solus Optoelectronics, the company ranked 7th in the US$24.5 billion global optical module market, with a market share of 2.9%.
As the construction of AI computing power infrastructure continues to advance, the demand for high-speed data transmission continues to grow, and the demand for high-end PCBs and optical modules for AI servers has also increased. Higashiyama Precision simultaneously lays out electrical transmission and optical transmission links to form a business structure for the collaborative development of PCBs, optical chips, and optical modules. Among them, Solus Optoelectronics has the ability to independently design and manufacture high-speed EML optical chips. The product transmission rate covers 2.5G to 200G, and mainly launches 100G and 200G PAM4 EML chips, providing 10G to 1.6T optical module products, further enhancing the company's competitiveness in the field of high-speed optical interconnection.
In terms of performance, in the first half of 2026, Higashiyama Precision achieved revenue of about 27.798 billion yuan, an increase of 63.9% year on year; profit of about 2.98 billion yuan, an increase of 293.5% year on year. Among them, the optical module business revenue was about 5.351 billion yuan, accounting for about 19.2% of the Group's revenue, and the gross margin reached 39.2%, making it an important business segment driving overall profitability improvement. Over the same period, the company's overall gross margin increased to 19.4% from 13.1% in the same period last year.
The capital raised in this listing is intended to be used to expand production of high-speed EML chips and optical modules, the construction of new high-end PCB facilities, and the upgrading of existing domestic production lines; part of the capital is also intended to be used for potential strategic investments or acquisitions, repayment of existing debts, and supplementary working capital. As demand for AI servers and data centers grows, the company will further unleash the synergy between high-end PCB and optical module businesses, and transform technology and production capacity advantages into a driving force for continuous performance growth.