On October 24, Chinese PCB manufacturer Dynamic Electronics Co., Ltd. ("Dynamic Electronics," stock code: 603175.SH) successfully debuted on the Shanghai Stock Exchange Main Board.

The company priced its IPO at CNY 17.08 (USD 2.40) per share. Shares opened sharply higher at CNY 70.10 (USD 9.85), up CNY 53.02 (USD 7.45) or 310.42%. As of 11:10 a.m. Beijing time, the stock had risen further to CNY 86.01 (USD 12.08), marking a 403.57% increase and giving the company a market capitalization of approximately CNY 37.59 billion (USD 5.28 billion).

Dynamic Electronics specializes in the research, development, production, and sales of printed circuit boards (PCBs). Its products are widely used in automotive electronics, displays, storage devices, consumer electronics, and communication equipment, covering a full range from double-sided to 26-layer boards, as well as HDI, thick copper, metal-based, and high-frequency high-speed boards.

A company representative said that the A-share listing marks a major milestone in Dynamic Electronics’ development journey. The IPO proceeds will fund projects adding 360,000 square meters of new PCB capacity, strengthening the company’s market competitiveness and meeting the growing demand for high-tech PCBs in sectors such as servers, automotive electronics, and storage devices.

Founded in 2015, Dynamic Electronics is a new production base established in mainland China by Taiwan-based Dynamic Holding. After setting up its first plant in Kunshan, Jiangsu in 2002, Dynamic chose Huangshi, Hubei Province for its second large-scale manufacturing site, attracted by the city’s industrial foundation and strategic location advantages.

“Since establishing operations in Hubei, Dynamic Electronics has entered a golden period of rapid growth,” a company official said. “The Huangshi plant achieved revenue of CNY 3.194 billion (USD 448 million) in 2024, accounting for over 80% of the company’s total revenue. Dynamic now operates three production bases worldwide.”

According to data from the China Printed Circuit Association (CPCA), Dynamic Electronics ranked 23rd among all comprehensive PCB enterprises in China in 2024. Industry research firm NTI reported that the company was one of the world’s top 10 automotive PCB suppliers and among the top five in China in 2023.