CCTG (HKG: 06951) has announced the launch of its global offering for H shares, with the subscription period running from June 30, 2026, to July 6, 2026. The company plans to issue a total of 71.3643 million H shares globally. The Hong Kong public offering will account for 10% of the total, with the international offering making up the remaining 90%. An over-allotment option of up to 15% is also available.

The maximum offer price has been set at HKD 100.30 per share. Each board lot will consist of 100 H shares. Trading of the H shares on the Main Board of The Stock Exchange of Hong Kong is expected to commence at 9:00 a.m. on Thursday, July 9, 2026.

Company Overview and Business Framework

The group has over 55 years of operational history and is deeply focused on the electronic ceramic materials and components sector. It has established a comprehensive business framework comprising four main product categories: electronic and ceramic materials, electronic components, communication devices, and equipment components. This framework serves key application areas including communications, AI and data centers, consumer electronics, automotive electronics, semiconductor manufacturing and packaging, new energy, and smart industrial control, covering everything from foundational materials to critical components and high-end devices.

Cornerstone Investment Agreements

The company has entered into cornerstone investment agreements with a consortium of prominent investors. These cornerstone investors include Temasek, JPMorgan Asset Management (JPMAMAPL), CPE River, Ninety One Asia, Alibaba Investment, Huanghe, Goldman Sachs Asset Management (GSAM), Manulife, Taikang Life Insurance, China Universal Asset Management, Bosera International, ICBC Wealth Management, IvyRock, Greater Bay Area Homeland Investments, Metazone, Verition Fund, GMF, and IRMF.

Subject to certain conditions, these cornerstone investors have agreed to subscribe, or procure their designated entities to subscribe, for approximately US$455 million worth of the offered shares at the offer price. This cornerstone investment will be allocated a total of 35.55 million H shares, based on the maximum offer price of HKD 100.30 per share.

Use of Proceeds

Assuming the maximum offer price and that the over-allotment option is not exercised, the group estimates net proceeds from the global offering to be approximately HKD 7.046 billion after deducting underwriting commissions and estimated expenses.

The company intends to allocate the net proceeds as follows: approximately 41.2% will be invested in new overseas expansion projects and automation to enhance production capacity, improve efficiency, and strengthen supply chain resilience. Around 48.8% will be used for technology iteration and material innovation to solidify its integrated technology barriers, support global business expansion, and advance domestic substitution in critical segments. The remaining 10.0% is earmarked for working capital and other general corporate purposes, including daily operations and general corporate expenditures.

Financial Performance

Since its initial public offering on the ChiNext board of the Shenzhen Stock Exchange in 2014, the group has demonstrated robust revenue growth and high-quality profitability. For the years 2023, 2024, and 2025, the group reported revenues of RMB 5.682 billion, RMB 7.266 billion, and RMB 8.869 billion, respectively. Corresponding gross profits were RMB 2.154 billion, RMB 2.975 billion, and RMB 3.543 billion. Net profits for the same periods were RMB 1.583 billion, RMB 2.190 billion, and RMB 2.617 billion. Net cash generated from operating activities was RMB 1.719 billion, RMB 2.403 billion, and RMB 2.878 billion, respectively, highlighting its long-term sustainable value creation capabilities.