Initial Public Offering, 69.66 yuan/share! Chengdu Hongming Electronics conducts online roadshow for new stock issuance today

On the evening of March 12, Chengdu Hongming Electronics Co., Ltd. (hereinafter referred to as “Hongming Electronics”) released the “Announcement of the Initial Public Offering and Listing on the Growth Enterprise Market,” providing details about the listing. According to the announcement, the offering price is 69.66 yuan per share. The offline and online subscription dates are both March 16, 2026. Additionally, based on the “Online Roadshow Announcement for the Initial Public Offering and Listing on the Growth Enterprise Market” released by the company on the evening of March 11, the online roadshow will be held today (March 13) from 14:00 to 17:00.

Related Announcements

Hongming Electronics stated in the relevant announcement that the application for the company’s initial public offering of A-shares and listing on the Growth Enterprise Market has been approved by the Shenzhen Stock Exchange’s GEM Listing Review Committee and has received registration approval from the China Securities Regulatory Commission. The total number of shares to be issued is 30,387,340, representing 25.00% of the total share capital after issuance. All are new shares issued publicly. The offering price of 69.66 yuan per share corresponds to a diluted forward price-to-earnings ratio of 33.61 times based on the company’s 2024 net profit attributable to shareholders before non-recurring gains and losses.

Founded in 1958, Hongming Electronics is one of the key projects during China’s “First Five-Year Plan,” focusing on the research, production, and sales of new electronic components and precision parts. After more than 60 years of development, it has become one of the few domestic manufacturers capable of full industry chain development from high-quality electronic materials to electronic components, successfully replacing many imported products with domestically produced alternatives.

In the announcement, Hongming Electronics highlighted its quality control advantages. In 1993, it established the country’s first production line for organic film dielectric capacitors meeting military standards; in 1997 and 1998, it successively built production lines for positive and negative temperature coefficient thermistors, becoming the only domestic manufacturer with two military-standard production lines for these products; in 2020, it completed a production line for nonlinear precision potentiometers meeting military standards. Furthermore, Hongming Electronics has introduced advanced quality management methods such as aerospace component process control systems and the GJB5000 military software development maturity model, continuously improving its quality management system. In 2021, the company was awarded the title of “Manufacturing Single Champion” and is one of the three leading enterprises in China for military multilayer ceramic capacitors (MLCC).

By 2025, Hongming Electronics’ performance is expected to significantly rebound, with operating revenue reaching 2.617 billion yuan, a year-on-year increase of 4.93%; net profit attributable to shareholders is projected at 319 million yuan, up 18.82% year-on-year. The company anticipates that in the first quarter of 2026, revenue will reach between 821 million and 845 million yuan, representing a year-on-year growth of 0.22% to 3.15%, maintaining a steady growth trend.

The number of listed companies is an important indicator of regional economic activity. In recent years, Chengdu has established the “Rongyi Shang” system of 1+4+N to provide comprehensive listing services throughout the entire lifecycle of enterprises. Currently, the total number of listed companies in Chengdu, both domestic and overseas, has reached 154, ranking first in the central and western regions.

Red Star News Reporter Wang Junfeng

Editor Li Yuyi