PC Partner Group, a prominent Hong Kong electronics manufacturer, has announced plans to relocate its headquarters to Singapore and has applied for a secondary listing on the Singapore Exchange. This strategic move is expected to involve no new shares, as the company aims to bolster its presence in the region while establishing a factory in Indonesia [0f4c224f].
Despite the ambitious expansion plans, PC Partner has faced financial challenges, reporting a 15% decline in revenue to HK$9.2 billion in 2023, alongside a staggering 91% drop in net income, which fell to HK$60.8 million [0f4c224f]. The company's shares recently fell by 0.9% to HK$4.47 on the Hong Kong market, although they have seen a remarkable 42% increase this year, significantly outperforming the Hang Seng Index's 5.5% gain [0f4c224f].
Following the secondary listing, PC Partner intends to convert it to a primary listing, which would necessitate shareholder approval for delisting from Hong Kong [0f4c224f]. Founded in 1997, PC Partner has grown into an international group, and this move to Singapore could mark a new chapter in its development as it seeks to navigate the evolving market landscape [0f4c224f].