Avary Holding, PCB supplier to Apple and a subsidiary of Zhen Ding, the global leader in PCB manufacturing, is likely to be listed on the A-share market in mainland China before the Mid-Autumn Festival. As such, it should become the next publicly listed company on the A-share market amongst members of the Pan-Foxconn group, after Foxconn Industrial Internet.    
       Zhen Ding’s value on the local market is conservatively estimated to start at NT$165 billion. Zhen Ding as its parent company would, on one hand, benefit directly from the listing, while Foxconn Technology, its primary stock-holder, would also benefit indirectly. On a whole, the trade is viewed as promising. When the Zhen Ding A-shares are listed, it should create three No. 1’s: firstly, it should have the top market value as the global PCB leader, secondly, it should have the highest ranking capital raising scale, and thirdly, its model of "F +A listing" is recognized as a first in the trade.

       Zhen Ding grasped the top spot in global PCB output value last year, and its objective this year is to remain stable. As for the Japanese NOK Group, ranked No.2, its market value closed at about NT$367.4 billion last Friday. However, NOK’s products not only include FPC but also industrial mechanical seals and chemicals. As estimated by the trade, the market value of NOK's FPC should reach about one-third of the total for the group. After Avary Holding is listed on the A-share market, its market value will surpass the Japanese manufacturer, giving it the number one ranking in the world.

 As indicated by the data of the financial report, Avary Holding Peng’s turnover and profit for the last financial year is four times that of Shennan, while the scale of its revenue is six times that of King Wong Electronics. In addition, Avary Holding’s net profit increased by 73.7% in the first half of the year, and its high-end FPC and SLP are higher both in terms of quantity and quality compared to its opponents. Thus, its prospective market outlook is considered to be more promising by the market.

Zhen Ding is currently listed as F-share in Taiwan. After listing on the A-share market, it is revealed that the "F+A listing model" has officially been recognized by the mainland authority. As observed by the trade, a small number of companies have failed to pass the official review and screening because of the brokerage institute and management issues, which are considered as individual cases. However, the performance of Avary Holding is rather steady, and is deeply rooted in the mainland's local market. In addition, related transactions by major shareholders are only but a few percent, which is why Avary Holding has obtained approval from the mainland official, and is recognized as a first instance in the trade. (Source of information: Economic Daily)