Wus Printed Circuit (Kunshan) Co.: Revenue and profit soared on strong AI demand; H-share Hong Kong listing planned

Revenue and net profit surged 56.59% and 47.50% year-over-year, respectively, driven by robust growth in AI, data center, and automotive PCB markets. Capital investment and overseas expansion continued, with risk management focused on supply chain and market volatility.

Original document: Wus Printed Circuit (Kunshan) Co., Ltd. Class A [002463] Interim report — Aug. 22 2025

Wus Printed Circuit (Kunshan) forecasts its attributable profit to rise 45% to 53% to between 1.65 billion yuan and 1.75 billion yuan in the first half from 1.14 billion yuan in the year-ago period, according to a Friday filing with the Shenzhen bourse.

The circuit board manufacturer forecasts earnings per share to increase to between 0.86 yuan and 0.91 yuan from 0.5966 yuan in the year-ago period.

The expected increase is attributable to higher demand for printed circuit boards for high-speed computers and artificial intelligence hardware, the filing said.

China and the U.S. rolling back tariffs should inject positive sentiment into Hong Kong and Chinese equities, Citi Research analysts say. While the reductions will last for 90 days, bilateral discussions will continue, Pierre Lau and others write in a note. Citi flags communications infrastructure, tech hardware, solar equipment, and semiconductors as the sectors that are most sensitive to tariffs. Among the firms with the largest profit mix generated from the U.S. are: Innolight, Eoptolink, TFC Optical, Tongfu, JCET, Jinko and JA Solar. Citi prefer H- to A-shares on a 12-month basis, assuming more rate cuts in the U.S.--benefitting HKD-- than in China. It is overweight on internet, tech and consumer sectors, with top picks including Tencent, Huaneng Power, Trip.com, BYD, AIA, Atour and Anta.(fabiana.negrinochoa@wsj.com)

China and the U.S. rolling back tariffs should inject positive sentiment into Hong Kong and Chinese equities, Citi Research analysts say. While the reductions will last for 90 days, bilateral discussions will continue, Pierre Lau and others write in a note. Citi flags communications infrastructure, tech hardware, solar equipment, and semiconductors as the sectors that are most sensitive to tariffs. Among the firms with the largest profit mix generated from the U.S. are: Innolight, Eoptolink, TFC Optical, Tongfu, JCET, Jinko and JA Solar. Citi prefer H- to A-shares on a 12-month basis, assuming more rate cuts in the U.S.--benefitting HKD-- than in China. It is overweight on internet, tech and consumer sectors, with top picks including Tencent, Huaneng Power, Trip.com, BYD, AIA, Atour and Anta.(fabiana.negrinochoa@wsj.com)

Wus Printed Circuit Kunshan increased the registered capital of its wastewater treatment subsidiary to 22.0 million yuan from 10 million yuan through industrial property contributions.

The move follows the April 11 establishment of Kunshan Qingsong Wastewater Treatment, according to a Tuesday filing with the Shenzhen bourse.

Q1 2025 revenue surged 56% year-over-year to RMB 4.04 billion, with net profit up 48% and strong cash flow growth, driven by robust demand in high-speed computing and AI sectors.

Original document: Wus Printed Circuit (Kunshan) Co., Ltd. Class A [002463] Interim report — Apr. 25 2025