Circuit Fabology Files For Hong Kong IPO
Published on March 20, 2026.
Chinese company Circuit Fabology Microelectronics Equipment Co. Ltd. (688630.SH) is seeking to list on the Hong Kong stock market. The maker of high-precision lithography tools for the chip industry, which accounts for a 15% share of the global market for direct-imaging equipment used to make printed circuit boards (PCBs), saw a nearly 48% increase in turnover last year and an 80% surge in net profit. Despite this growth, the company faces cash flow challenges. The company became the world's largest supplier of PCB direct-IMaging equipment in 2024, with a market share of 15%, and its customers include the world’s top 10 PCB manufacturers and about 70% of the 100 leading PCB companies.
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