WUS PCB shareholder to reduce stake; board approves financing

WUS Printed Circuit Kunshan (SZSE:002463) faces a complex financial landscape as a major shareholder, WUS GROUP HOLDINGS CO., LTD., intends to reduce its stake, while the company pursues increased financing for its subsidiaries. WUS GROUP HOLDINGS, which currently holds approximately 11.89% of WUS PCB's shares, plans to reduce its holdings by no more than 12 million shares, representing roughly 0.625% of the total share capital. The reduction, slated to occur between May 26 and August 25, 2025, is driven by WUS GROUP HOLDINGS' own funding needs. Concurrently, the WUS PCB board has approved measures to secure credit lines and provide guarantees for its subsidiaries, including a guarantee for a CNY 700 million debt for its subsidiary WUS International. The company is also guaranteeing a $14 million USD credit line for its Thailand subsidiary. These financial maneuvers aim to support the operational needs and expansion of WUS PCB's various business units but also significantly increase its total guaranteed debt to approximately CNY 1.2 billion. These actions have implications for shareholder value, as dilution could occur. The company has scheduled its 2024 annual general meeting on April 28 to vote on related matters.