Shenzhen Kinwong Electronic Co., Ltd. (Ticker: 3228 HK) is a Chinese printed circuit board (PCB) manufacturer serving automotive electronics, telecommunications and data infrastructure, smart devices, industrial control, AI computing and other markets.

Kinwong plans to list its H shares on the Hong Kong Stock Exchange on September 29, 2026, offering approximately 72.94 million primary shares at HKD 69.88 per share and raising approximately HKD 5.1 billion (approximately $650 million). According to CIC data cited in the prospectus, the company was the world’s largest automotive electronics PCB provider by revenue in 2025, with a 10.6% market share, and ranked eleventh among PCB providers globally with a 2.5% share.

Its products include multilayer, HDI, flexible, high-layer-count and other advanced PCBs used in areas including autonomous driving, AI computing infrastructure and next-generation communications. The company served more than 800 customers across 53 countries or regions during the track record period. CLSA, Guolian Securities International Capital and Merrill Lynch Asia Pacific are managers of the offering.