Big news! With annual Revenue exceeding 40 billion, this LED industry giant is heading to Hong Kong for an IPO / Go public—what’s the deeper significance?

Breaking news! An LED industry giant with annual revenue exceeding 40 billion is set to list on the Hong Kong Stock Exchange!

From the Shenzhen Stock Exchange to the Hong Kong market, why is Dongshan Precision building an “A+H” dual-platform strategy? What industrial signals does this reveal?

On October 20, Suzhou Dongshan Precision Manufacturing Co., Ltd. launched its IPO for H shares, with an official listing on the Main Board of the Hong Kong Stock Exchange expected on October 28. This means that the leading domestic LED company is poised to complete its “A+H” dual-platform structure.

According to the announcement, Dongshan Precision’s global offering will comprise a base issue of 113 million H shares, priced at no more than HK$93.80 per share. The proceeds will primarily fund new production capacity expansion and upgrades to existing facilities, as well as strategic investments and acquisitions, further solidifying the company’s technological and market leadership in its core businesses.

Founded in 1980, Dongshan Precision was listed on the Shenzhen Stock Exchange in 2010. Since its inception, the company has grown through both organic expansion and strategic acquisitions, establishing three major business segments—electronic circuits, optoelectronic displays, and precision manufacturing—whose products serve a wide range of industries, including consumer electronics, new-energy vehicles, and telecommunications equipment.

In terms of performance, as one of China’s leading LED companies, Dongshan Precision has enjoyed rapid growth in recent years. In 2025, the company reported revenue of approximately RMB 40.125 billion; in the first half of this year, revenue reached about RMB 27.7 billion, with net profit around RMB 2.957 billion. Notably, overseas markets have been particularly strong, with export revenue totaling RMB 23.129 billion in the first half—an increase of over 75% year-on-year (YoY).

According to Lao Hong, Dongshan Precision’s decision to list in Hong Kong at this juncture reflects more than just fundraising—it represents a critical step in its global strategy. With the global supply chain undergoing profound reshaping, competition within the LED industry has long since shifted from domestic rivalry to international contest. By adopting an “A+H” dual-platform approach, Dongshan Precision not only broadens its financing channels but also gains direct access to international resources, enhancing its brand visibility and risk resilience in the global marketplace.

Moreover, Lao Hong notes that in recent years, numerous LED and smart‑hardware companies have been actively pursuing listings on the Hong Kong stock exchange. This trend underscores how leading firms, facing intensifying competition in the domestic market, are leveraging internationalization to unlock new growth opportunities abroad. However, it’s important to recognize that listing in Hong Kong merely provides entry; ultimately, success on the global stage hinges on robust technological capabilities and sustained profitability.

As Dongshan Precision moves from the domestic market to the international arena, its journey epitomizes the broader globalization efforts of China’s LED enterprises. Yet, once venturing into international markets, the real challenges are only just beginning.

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About the author, Hong Bing:

Hong Bing currently serves as Editor-in-Chief of China Light Network and Agricultural Lighting Network—the official websites of the China Illuminating Electrical Appliances Association—as well as Executive Dean of Ming Classroom. He also holds the positions of Executive Vice President of the Beijing Illuminating Electrical Appliances Association, Deputy Chairperson of both the Talent Training Committee and the Agricultural Lighting Professional Committee under the China Illuminating Electrical Appliances Association, Executive Deputy Chairperson of the Fudan University Alumni Lighting Alumni Association, and Director of the Eco‑Environment Alumni Association at CEIBS. Graduating from Fudan University’s Department of Light Sources and Lighting Engineering in 1991, he earned an MBA from CEIBS in 2003. Over the years, he has worked in R&D, product planning, and marketing at institutions such as the China Building Materials Academy, Panasonic, GE, and OSRAM. In 2008, he received Siemens’ Global Top Plus Award and Siemens China’s Outstanding Performance Award, and in 2009 founded China Light Network.

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