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Suzhou Dongshan Precision Manufacturing raised approximately HK$9.9 billion (about US$1.3 billion) in a Hong Kong share offering, according to Bloomberg. The printed-circuit-board maker priced its H shares at HK$86.80 each—roughly US$11—and Bloomberg said that price was about 35% below the previous Friday’s close of Dongshan’s separately listed Shenzhen shares. Dongshan’s official third-quarter report confirms the final offer price, 113,783,200 H shares listed, and trading beginning on October 28, 2026.
What happened in Dongshan Precision’s Hong Kong IPO?
Suzhou Dongshan Precision Manufacturing Co., Ltd. sold 113,783,200 H shares in Hong Kong at a final offer price of HK$86.80 per share. The company’s H shares trade under stock code 02384. The issuer’s third-quarter report says trading began on October 28, 2026.
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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchBloomberg reported gross proceeds of approximately HK$9.9 billion, equivalent to about US$1.3 billion at the conversion used in its coverage, and described the deal as Hong Kong’s biggest initial public offering in nearly two months. The proceeds figure and the “biggest in nearly two months” comparison are Bloomberg’s market reports, not calculations from the company’s earnings release.
How much was the Dongshan Hong Kong IPO price?
The final price was HK$86.80 per H share. Dongshan’s official report states that the price was determined on October 26, 2026. Its quoted amount excludes the standard Hong Kong transaction charges listed in the filing:
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- 1.0% brokerage commission
- 0.0027% Securities and Futures Commission transaction levy
- 0.00565% Hong Kong Stock Exchange trading fee
- 0.00015% Accounting and Financial Reporting Council transaction levy
Using the approximate conversion cited in coverage, HK$86.80 is about US$11. The exact dollar value will vary with the exchange rate; the contractual IPO price is denominated in Hong Kong dollars.
What does the 35% discount to Shenzhen mean?
Bloomberg said the Hong Kong offer price was approximately 35% below Dongshan’s closing price in Shenzhen on the preceding Friday. This is a comparison between two separately listed share classes and two specific reference points: the new Hong Kong H-share offer price and the prior Friday’s Shenzhen-listed share close.
It is not a comparison with the first-day Hong Kong trading price, and it does not guarantee that the two markets will converge. Differences in investor access, liquidity, settlement, currency, market conditions and share-class demand can all affect pricing. The discount alone therefore does not establish an arbitrage opportunity, explain the issuer’s pricing decision or predict future performance.
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When did Dongshan’s H shares start trading?
The company’s exchange-posted third-quarter report says 113,783,200 H shares were listed and began trading on October 28, 2026. The listing followed the final pricing decision announced in the same report’s timeline. Readers checking a quote should use Hong Kong code 02384 rather than the company’s existing Shenzhen ticker.
Why is Dongshan raising money in Hong Kong?
Dongshan manufactures printed circuit boards and related electronics components. In its third-quarter report, the company described expanded investment in optical-transceiver and artificial-intelligence PCB capacity. It also attributed part of the sharp increase in reported revenue to consolidation of Source Photonics’ optical-transceiver business. Those explanations come from the issuer and should be read as management’s account of the results, not as an independent assessment of demand or profitability.
The Hong Kong listing gives the company an additional public share class and access to Hong Kong’s international capital market. The filing figures do not, by themselves, show how much of the proceeds will be allocated to each project or whether every planned investment will earn its targeted return; those details require the final prospectus and subsequent company disclosures.
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How fast did Dongshan’s business grow before the listing?
Dongshan reported unaudited revenue of RMB45,379,349,598.30 for the nine months ended in 2026, up 67.63% from the comparable period a year earlier. Net profit attributable to shareholders was RMB5,288,744,234.60, an increase of 332.34%, according to the company’s third-quarter report.
Because these are nine-month, unaudited figures, they should not be treated as a full-year result or as a forecast. The reported growth also reflects the company’s stated consolidation of Source Photonics’ optical-transceiver operations, so a simple year-over-year comparison may not represent entirely the same business perimeter.
What should investors verify before interpreting the filing?
- Use the final terms. The official third-quarter report confirms HK$86.80 and the number of H shares. A draft application proof circulated during the process was explicitly incomplete and subject to change; it is not confirmation of final terms.
- Separate share classes. Compare the Hong Kong H share with the Shenzhen-listed share only after checking the relevant ticker, currency and timestamp.
- Check the trading record. The offer price is fixed at HK$86.80, while the market price after October 28 can move independently.
- Read the risk disclosures. PCB and optical-transceiver demand is exposed to technology cycles, customer concentration, capacity spending, export conditions and execution risk. The headline proceeds and discount do not remove those risks.
What the headline figures do—and do not—show
| Item | Reported figure | Source and qualification |
|---|---|---|
| Hong Kong offer price | HK$86.80 per H share | Dongshan official third-quarter report |
| H shares listed | 113,783,200 | Dongshan official third-quarter report |
| Approximate proceeds | HK$9.9 billion / US$1.3 billion | Bloomberg report |
| Comparison with Shenzhen | About 35% below the previous Friday’s close | Bloomberg; not a first-day Hong Kong comparison |
| Hong Kong trading start | October 28, 2026 | Dongshan official third-quarter report |
| Nine-month 2026 revenue | RMB45.379 billion, up 67.63% | Unaudited company report |
| Nine-month 2026 attributable net profit | RMB5.289 billion, up 332.34% | Unaudited company report |
Taken together, the figures describe the size and pricing of a major cross-border listing and a period of rapid reported growth. They do not constitute a valuation opinion or a recommendation to buy or sell either share class.
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Why the Shenzhen discount is easy to misread
A 35% headline discount can look like a simple bargain, but the reference price is the Shenzhen close from the prior Friday, not a simultaneous executable price in Hong Kong. The H shares were newly issued, while the Shenzhen shares were already trading; different investor pools and market hours further complicate a direct comparison.
Investors also need to account for brokerage and statutory charges, currency conversion and the possibility that either market moves between the reference date and a trade. Only a complete analysis of the prospectus, capital structure, exchange rules and live prices can establish whether any price gap is actionable.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Frequently Asked Questions
What is Dongshan Precision’s Hong Kong stock code?
Its Hong Kong H shares trade under code 02384. That code is separate from the company’s Shenzhen-listed share ticker and should be used when looking up the Hong Kong listing.
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How many Dongshan H shares were offered?
The issuer reported that 113,783,200 H shares were listed. They began trading in Hong Kong on October 28, 2026.
Does the 35% figure mean Dongshan H shares were guaranteed to rise?
No. The figure compares the HK$86.80 offer price with the previous Friday’s Shenzhen close, as reported by Bloomberg. It does not predict the Hong Kong opening price or future performance.
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1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitchesWere Dongshan’s 2026 results audited?
The nine-month 2026 revenue and net-profit numbers in the third-quarter report are identified as unaudited. They are interim figures, not audited full-year accounts.
