A-share subscription | Jia Lichuang (001232.SZ) opens subscription as a leading provider of comprehensive electronic industry infrastructure services in the industry.

On July 24, Jialichuang (001232.SZ) initiated the subscription with an issue price of 84.46 yuan per share, a subscription limit of 13,000 shares, a P/E ratio of 38.19 times, listed on the Shenzhen Stock Exchange, and Guotai Haitong as its sponsor. According to the prospectus, Jialichuang is a leading and industry-changing provider of comprehensive electronic industry infrastructure services, with strong independent research and development capabilities. Through its self-built ordering website and production warehousing base, the company provides integrated services covering EDA/CAM industrial software, printed circuit board manufacturing, electronic component procurement and sales, and electronic assembly. The company's annual delivery orders exceed 20 million. The company has innovatively targeted sample and small batch demands of electronic industry customers, using information technology and digital technology to provide "one-stop, customized, efficient, and high-quality" products and services for the "small batch, diversified, quick delivery" long-tail demands. This effectively solves the common problems of high cost, unstable delivery time, inconsistent quality, and single service in traditional factories when serving long-tail customers. The company's main business includes: (1) Printed circuit board business, to meet customer needs from "prototype to small batch to medium-large batch" PCB manufacturing; (2) Electronic component business, mainly meeting customer sample and small batch electronic component procurement needs through a full category stock model; (3) Electronic assembly business, through efficient organization of engineering management and production processes, the company can quickly respond to PCBA order needs of sample and small batch customers; (4) Other main businesses, including EDA/CAM industrial software, laser steel mesh and other electronic industry support services, as well as 3D printing, CNC manufacturing, FA mechanical parts mall and other mechanical industry services with the "customer source" feature related to the electronic industry chain. The company focuses on serving PCB sample and small batch board manufacturing needs, while also having the production capacity for medium-large batch boards. Through unique business model innovation and continuous improvement of industry chain support, the company can quickly meet customer needs from "prototype to small batch to medium-large batch" PCB manufacturing, providing customers with one-stop professional PCB rapid manufacturing services. The company has successively established five modern digital production bases and two intelligent electronic component warehousing bases covering approximately one million square meters in Zhuhai, Huizhou, Shaoguan in Guangdong Province, Ji'an in Jiangxi, and Huai'an in Jiangsu, achieving vertical integration of business lines and vertical extension of the industry chain. As of the end of 2025, the company had over 9.5 million online self-service ordering website registered users, with over 1.3 million paying users in 2025 and processing over 21 million orders. Customers include numerous well-known enterprises in various fields, as well as over a thousand domestic and foreign universities and research institutes. In terms of performance, the company achieved operating income of approximately 6.726 billion yuan, 7.969 billion yuan, and 10.232 billion yuan in 2023, 2024, and 2025 respectively, with net profits of approximately 734 million yuan, 1.054 billion yuan, and 1.306 billion yuan during the same period.