On October 29 (Beijing time), Chinese PCB tooling and equipment supplier Guangdong Dtech Technology Co., Ltd. (301377.SZ) announced that it plans to issue H-shares and seek a listing on the Main Board of the Hong Kong Stock Exchange (HKEX) as part of its strategy to build a global operating platform and enhance overall competitiveness.

The company stated that the proposed H-share issuance and listing will be conducted in accordance with relevant laws and regulations, subject to approval or filing by the competent government authorities, regulators, and stock exchanges. Upon completion, Dtech will be converted into a joint stock limited company incorporated outside mainland China and become a dual-listed public company on both the Shenzhen Stock Exchange and HKEX.

Earlier, on October 24, the company released its financial results for the third quarter of 2025. For the first nine months of the year, Dtech reported total revenue of RMB 1.457 billion, representing a 29.13% year-on-year increase. Net profit attributable to shareholders reached RMB 282 million, up 63.94% year on year, while core net profit rose 79.94% to RMB 263 million.

Operating cash inflow for the period was RMB 22.01 million, down 89.05% from a year earlier. Earnings per share stood at RMB 0.69, and the weighted average return on equity (ROE) reached 10.75%. The company's asset-liability ratio rose to 34.45%, while its gross margin was 40.62%.

As of October 23, Dtech's stock traded at a price-to-earnings (P/E) ratio of about 114.6 times (TTM), with a price-to-book (P/B) ratio of 14.54 times and a price-to-sales (P/S) ratio of 20.24 times. The company's latest total asset turnover was 0.38 times, and its inventory turnover ratio stood at 1.93 times.

According to public filings, Dtech's core business covers the PCB industry, machine tool equipment, and functional film materials. The company's shareholder base includes approximately 16,200 investors, with the top ten shareholders holding 87.58% of total shares.