New Stock News | Tong Asia Technology submits listing application to the Hong Kong Stock Exchange, the world's third largest and China's largest supplier of ultra-fine wire and cable conductors.

According to the disclosure on June 9th by the Hong Kong Stock Exchange, Guangdong Tongya Technology Co., Ltd. (referred to as Tongya Technology) submitted an application to the main board of the Hong Kong Stock Exchange, with Orient International as its exclusive sponsor. Company Profile Tongya Technology is a high-performance precision metal connector wire supplier, mainly focusing on the research and development, production, and sales of precision cable conductors. According to a Frost & Sullivan report, based on 2025 revenue, the company holds a 15.5% market share in the global ultra-fine cable conductor market, ranking third globally and first in China. During the historical period, the company's products were widely used in various fields including smart terminals, precision medical equipment, low-altitude economy and Siasun Robot & Automation, computing centers, new energy vehicles ("NEVs"), and other equipment. Tongya Technology's products mainly include precision cable conductors and precision metal wire ropes. During the historical period, the majority of its revenue came from the sale of precision cable conductors, which were widely used in various fields such as smart terminals, precision medical equipment, low-altitude economy and Siasun Robot & Automation, computing centers, NEVs, and other equipment. The company started producing precision metal wire ropes in 2023 and is still in the capacity ramp-up and product optimization stage. The product line diameter typically ranges from 0.008mm to 0.5mm, mainly classified into ultra-fine products (0.03mm), fine products (>0.03mm, <0.1mm), and regular products (0.1mm). Financial Information Revenue In the fiscal years 2023, 2024, and 2025, the company achieved revenues of approximately RMB 172 million, RMB 206 million, and RMB 303 million respectively. Gross Profit In the fiscal years 2023, 2024, and 2025, the company's gross profits were approximately RMB 50.66 million, RMB 62.66 million, and RMB 76.20 million respectively. Net Profit In the fiscal years 2023, 2024, and 2025, the company recorded net profits of approximately RMB 31.95 million, RMB 41.94 million, and RMB 47.10 million respectively. Industry Overview The global high-performance precision metal connector wire market is large and structurally complex, driven by diverse applications in various industries. The market size was $52.8 billion in 2025 and is expected to reach $80.5 billion by 2030 and $97.6 billion by 2035, with a compound annual growth rate of 8.8% from 2025 to 2030 and 3.9% from 2030 to 2035. The global market for micro and ultra-fine cable conductors has experienced significant growth in recent years, mainly driven by increasing demand for miniaturization, high transmission efficiency, and enhanced reliability in downstream industries. The market grew from $35.0 billion in 2019 to $48.0 billion in 2025, with a compound annual growth rate of 5.2%. It is expected to reach $67.0 billion by 2030 and $117.0 billion by 2035, with compound annual growth rates of 7.0% from 2025 to 2030 and 11.7% from 2030 to 2035. Specifically, the global market for micro cable conductors grew from $35.0 billion in 2019 to $47.0 billion in 2025, with a compound annual growth rate of 5.1%. It is expected to reach $64.0 billion by 2030 and $94.0 billion by 2035, with compound annual growth rates of 6.1% from 2025 to 2030 and 8.1% from 2030 to 2035. The micro cable conductor market continues to benefit from widespread downstream applications in smart terminals, communication systems, medical equipment, and smart devices. The global market for ultra-fine cable conductors grew from $36.3 million in 2019 to $89.8 million in 2025, with a compound annual growth rate of 16.3%. It is expected to reach $400 million by 2030 and $2.3 billion by 2035, with compound annual growth rates of 36.9% from 2025 to 2030 and 44.9% from 2030 to 2035. Compared to the micro cable conductor market, the ultra-fine cable conductor market has higher technological barriers and performance requirements, mainly used in high-precision and high-density interconnection scenarios, including medical equipment, Siasun Robot & Automation, and low-altitude economy. In addition, conventional cable conductors have traditionally been widely used in traditional power transmission, industrial equipment, and various cable-related applications. In recent years, with the introduction of higher-performance conventional cable conductors driving growth, the revenue scale of the global market has reached billions of dollars. For conventional cable conductors used in high-speed copper cables, the market size increased from RMB 100 million in 2019 to RMB 700 million in 2025, with a compound annual growth rate of 36.0%. It is expected to reach RMB 2.1 billion in 2030 and RMB 4.2 billion in 2035, with compound annual growth rates of 24.7% from 2025 to 2030 and 14.6% from 2030 to 2035. Board of Directors Information The board of directors consists of eight directors, including five executive directors and three independent non-executive directors. Equity Structure As of the last practicable date, Mr. Zhao is a general partner of Shenzhen Yamei. Under the Securities and Futures Ordinance, Mr. Zhao is considered to have an interest in the shares held by Shenzhen Yamei. As of the last practicable date, Tongya Enterprise Management is owned 50.00% by Mr. Zhao and 50.00% by Mr. Deng. Under the Securities and Futures Ordinance, Mr. Zhao and Mr. Deng are considered to have an interest in the shares held by Tongya Enterprise Management. As of the last practicable date, Qingdao Hongping Investment Partnership Enterprise (Limited Partnership) ("Qingdao Hongping") and Qingdao Hongshen Investment Partnership Enterprise (Limited Partnership) ("Qingdao Hongshen") hold 4,439,537 shares and 2,671,756 shares respectively. Qingdao Hongping and Qingdao Hongshen are ultimately controlled by Mr. Wang Hui. Intermediary Team Exclusive Sponsor: Orient Finance (Hong Kong) Limited Company Legal Adviser: Hai Wen Law Firm and Hai Wen Law Firm Limited Liability Partnership Sponsor Legal Adviser: Zhou Junxuan Law Firm and Beijing Tongshang Law Firm, Tongshang Law Firm in Beijing Auditors and Reporting Accountants: Ernst & Young Certified Public Accountants Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Adviser: SOMERLEY CAP Limited Company