Source: Laserfair.com  6^th Feb 2026

On February 6, Shenzhen Han's CNC Technology Co., Ltd. (Stock Code: 03200.HK) was officially listed on the Hong Kong Stock Exchange, with China International Capital Corporation (CICC) as the exclusive sponsor. This listing marks a milestone for this leading enterprise in PCB special equipment, as it officially completes the leap to build an A+H dual capital market layout.

From its listing on the ChiNext Board of the Shenzhen Stock Exchange in February 2022 to its debut on the Hong Kong stock market today, Han's CNC has taken a critical step in its global development and embarked on a brand-new growth journey.

After the market opening of the listing, the company's share price delivered an outstanding performance, surging sharply right at the opening bell. This fully demonstrates the capital market's high recognition of its industry status, development potential and globalization strategy.

Looking back on the listing process, Han's CNC had long laid out its plan for the Hong Kong listing. On April 21, 2025, the company announced its proposal to issue H-shares and list on the Main Board of the Stock Exchange of Hong Kong, to advance its globalization strategy and build an overseas capital platform. On May 30, the company formally submitted its listing application to the Hong Kong Stock Exchange. On December 2, the Hong Kong Stock Exchange published its listing filing documents, with CICC serving as the exclusive sponsor throughout the process to steadily advance all preparatory work for the listing, which finally culminated in the successful listing on February 6, 2026.

According to the prospectus and public listing information, Han's CNC offered 50.4518 million H-shares in this global offering, with the offer price set at HK$95.80 per share. The total raised capital amounted to HK$4.833 billion, with a net amount of HK$4.631 billion after deducting issuance expenses.

The listing has attracted strong interest from numerous well-known institutions, with a high-profile lineup of cornerstone investors including Hongxing International, GIC Private Limited, Schroders, and HHLRA under Hillhouse Capital. The total subscription amount reached US$310 million, which laid a solid foundation for the company's listing and also highlighted institutional confidence in the development prospects of the leading PCB equipment enterprise. The raised capital will be mainly invested in the development of overseas markets, with core initiatives including setting up a new production plant and R&D and operation center in Singapore, while continuously improving its service network in Southeast Asia.

As a leading enterprise in the global PCB special equipment sector, Han's CNC boasts strong strength. It has ranked first in the special equipment list of the China Printed Circuit Association (CPCA) for 16 consecutive years. In 2024, with a 6.5% global market share, it became the largest equipment manufacturer in the industry, capturing a 10.1% market share in the Chinese market. It is also one of the global PCB special equipment enterprises with the most extensive product lines and the most comprehensive process solution layout.

The company’s business covers key processes of all segmented PCB products, including drilling, exposure, forming, and electrical performance testing. It provides a wide range of series and types of process solutions, offering downstream customers all-round and integrated equipment solutions.

With its complete product portfolio and excellent product quality, the company has built a solid customer base and serves many leading PCB manufacturers worldwide.

Global layout has become one of the core highlights of Han's CNC’s Hong Kong IPO, with the explosive growth of its overseas business particularly remarkable. From 2022 to 2024, the company’s overseas sales revenue soared from 36.39 million yuan to 362 million yuan, and its share in total revenue rose sharply from 1.3% to 10.8%. The scale of overseas revenue increased nearly 10-fold in three years.

At present, the company has established a customer service and value-added service center in Thailand, and is simultaneously expanding its sales network in Malaysia and Vietnam. The establishment of the Singapore R&D and Operation Center will further leverage local talents and geographical advantages, accelerate the international certification of strategic products such as new laser processing equipment, and help the company break through the supply system barriers of overseas giants’ substrate manufacturing factories.

In terms of ownership structure, Gao Yunfeng, the company’s controlling shareholder, indirectly holds approximately 84.39% of shares through entities including Han's Laser. The stable ownership structure provides a guarantee for the company’s long-term and steady development.

As a core subsidiary of Han's Laser focusing on PCB special equipment, Han's CNC relies on the synergy advantages of the parent company’s brand, technology and resources to continuously deepen the PCB equipment sector. It also actively develops R&D for PCB equipment related to cutting-edge sectors such as AI servers and intelligent new energy vehicles, which is expected to further open up growth space.

The Hong Kong listing is an important milestone in the development of Han's CNC, and a crucial step in its “A+H” dual capital platform strategy, with strategic significance far beyond financing itself.

In the future, relying on the financing advantages of dual capital markets, Han's CNC will continue to increase R&D investment, improve its global layout, consolidate its leading position in the industry, seize opportunities in the high-end PCB equipment market, promote technological upgrading and high-quality development of the PCB equipment industry, and achieve a new leap in global development.