Shares of CCTC (06951) commenced trading on the Hong Kong Stock Exchange today, opening at their initial public offering price. The company had set its final offer price at HK$100.3 per share, issuing approximately 71.36 million shares, with each board lot comprising 100 shares. The net proceeds from the offering are estimated to be around HK$7.046 billion. In early trading, the stock showed no movement from its offer price, holding steady at HK$100.3 with a turnover of HK$458 million.
The company's prospectus details its focus on the electronic ceramics materials and components sector. CCTC has established a business framework encompassing four major product categories: electronic and ceramic materials, electronic components, communication devices, and equipment components. This structure serves core application fields including communications, artificial intelligence and data centers, consumer electronics, automotive electronics, semiconductor manufacturing and packaging, new energy, and smart industrial control, covering everything from foundational materials to key components and high-end devices.
According to data from Frost & Sullivan, CCTC is projected to hold the top global market position by revenue in 2025 for three of its key products: alumina ceramic substrates, ceramic ferrules and sleeves, and solid oxide fuel cell (SOFC) separator plates. The company commands a global market share of approximately 70% for ceramic ferrules and sleeves and around 40% for ceramic packaging substrates.
In the automotive-grade product segment, the company has launched a multi-layer ceramic capacitor (MLCC) series covering specifications from 0201 to 2220, with a capacitance range from 0.1 picofarads to 47 microfarads. These components are increasingly being integrated into core systems of new energy vehicles, including power supply systems, motor drive systems, and infotainment systems. For the AI and data center market, CCTC has also introduced small-size, high-capacitance products such as the 0603-226 and 0805-476, indicating a progressively maturing supply system for this sector.