On 20 March 2026, Delton Technology (01989.HK) was successfully listed on the Main Board of the Hong Kong Stock Exchange, becoming the first PCB manufacturer to achieve an “A-to-H” listing, as well as the first Hong Kong-listed company focused on computing-power PCBs. The company issued 46 million shares in its global offering at a price of HK$71.88 per share, raising gross proceeds of over HK$3.3 billion.

In this transaction, Paul Hastings (Hong Kong) advised the issuer on Hong Kong and US law, AllBright Law Offices acted as PRC counsel to the issuer, and Star Ray advised the issuer on Thai law.

CITIC (Hong Kong) and HSBC (Hong Kong) acted as joint sponsors. Sullivan & Cromwell (Hong Kong) and Jia Yuan Law Offices advised the sponsors and underwriters on Hong Kong and US law, and PRC law, respectively.

Founded in June 2002 and headquartered in Guangzhou, Delton Technology is principally engaged in the research, development, manufacturing and sale of customised printed circuit boards (PCBs) used in computing-power servers and other computing-related applications. The company was previously listed on the Main Board of the Shenzhen Stock Exchange (001389.SZ) in April 2024. It subsequently submitted listing applications to the HKEX in June and December 2025, and passed its listing hearing in February 2026.

The proceeds from the offering will be primarily used for the Phase II construction of its Thailand production base, the upgrade of automated production lines at its Guangzhou base, and the development of advanced technologies.