Guanghe Technology's Hong Kong IPO approved! The wealth of the richest couple in Xiaogan, Hubei, skyrockets, with both performance and profits growing.

Guangzhou Guanghe Technology Co., Ltd. has been active in the capital markets. It first successfully listed on the Shenzhen Stock Exchange A-shares market in April 2024, and later on February 27, 2025, it passed the Hong Kong IPO hearing, with CITIC Securities and HSBC serving as joint sponsors, attracting widespread market attention. The company specializes in the research, development, production, and sales of customized printed circuit boards (PCBs) used in computing servers and other computing scenarios, holding an important position in the industry.

As the core equipment for data processing, computing servers undertake essential computing tasks. Designed for compute-intensive workloads, they can efficiently handle large-scale data, complex algorithms, and intensive calculations. PCBs, as key components in electronics manufacturing, provide the physical platform for component installation. They connect components mechanically and electrically through conductive traces and pads, making them indispensable parts of computing servers. Leveraging its technological expertise and market layout in the PCB field, Guanghe Technology has emerged in the global computing server PCB market.

According to Frost & Sullivan data, based on the cumulative revenue of computing server PCBs from 2022 to 2024, Guanghe Technology ranks third among global computing server PCB manufacturers and is the top among mainland Chinese manufacturers. This achievement is attributed to the company’s continuous investment in technological R&D and precise market demand targeting. Financially, Guanghe Technology has shown impressive performance in recent years. From 2022 to 2024, the company achieved revenues of 2.412 billion yuan, 2.678 billion yuan, and 3.734 billion yuan, respectively; and profits of 280 million yuan, 415 million yuan, and 676 million yuan, respectively. In 2025, the growth momentum continues, with the first three quarters recording revenue of 3.835 billion yuan, a year-on-year increase of 43.07%, and profits of 724 million yuan, up 46.97% year-on-year.

Regarding the company’s ownership structure, before the IPO, Xiao Hongxing and Liu Jinchang jointly controlled approximately 53.65% of the issued share capital through Zhenyun Investment, Guangsheng Investment, and Guangcai Investment. Therefore, Xiao Hongxing, Liu Jinchang, Zhenyun Investment, Guangsheng Investment, and Guangcai Investment form the company’s controlling shareholder group under listing rules. Xiao Hongxing and Liu Jinchang, a married couple, have achieved success in business and are also prominent in wealth. With a fortune of 10 billion yuan, they ranked 2,575th on the 2025 Hurun Global Rich List. Xiao Hongxing was the only entrepreneur from Xiaogan to make the list that year, earning the title “Xiaogan’s Richest Person in Hubei.” On October 28, 2025, in the “2025 Hurun Top 100 Rich List,” their wealth further increased to 15 billion yuan, ranking 443rd, with astonishing growth.