Chaozhou Three-Circle seeks $1 billion Hong Kong IPO

Chaozhou Three-Circle Group aims to rise up to $1 cardinal successful a Hong Kong listing, according to Reuters, citing 2 unnamed sources acquainted with the matter.

Regulatory clearance from the China Securities Regulatory Commission is inactive pending for the Shenzhen-listed shaper of tiny ceramic components recovered successful smartphones, automobiles, information centers, and telecommunications gear. Once support comes through, the transaction could get underway quickly, with June-end cited arsenic a imaginable earliest timeline, the sources said. China Galaxy International is the sole sponsor of the transaction.

Three-Circle is located successful Chaozhou, Guangdong province. Its ceramic components assistance with vigor regulation, awesome transmission, and electrical storage, and are utilized successful markets similar fiber-optic networks and information centers. In a draught prospectus filed successful December 2025, according to Reuters, the institution cited Frost & Sullivan probe that named Three-Circle a planetary person successful precocious physics ceramic materials and components.

Proceeds from the listing are earmarked for works construction, capableness expansion, and automation enactment astatine overseas sites successful Thailand and Germany, on with backing for R&D activities and wide moving superior needs, the prospectus showed.

Three-Circle's shares connected the Shenzhen speech person risen 87% this year, bringing its marketplace worth to astir $24 billion. In the archetypal quarter, nett net was 790.9 cardinal yuan ($115.8 million), up 48.5% from a twelvemonth earlier, and gross grew 46.3% to 2.68 cardinal yuan. For each of 2025, nett net accrued 19.5% to 2.62 cardinal yuan, portion gross roseate 22.1% to 9.01 cardinal yuan, according to institution filings.

A $1 cardinal listing would adhd to a beardown twelvemonth for Hong Kong's IPO market. In the archetypal 4th of 2026, Hong Kong led the satellite successful IPO proceeds, with HKEX information showing 40 deals that raised a full of HK$110.4 cardinal ($14.1 billion).