Key Dates and Timeline
- IPO Launch Date: December 22, 2025, at 9:00 a.m. (Hong Kong time)
- Application Deadline: Electronic applications must be completed by December 29, 2025, at 11:30 a.m.
- Price Determination Date: The Offer Price is expected to be determined on or before December 30, 2025, at 12:00 noon
- Announcement of Final Offer Price: Scheduled for on or before December 31, 2025, at 11:00 p.m.
- Expected Listing Date: Trading of H Shares is expected to commence on January 2, 2026, at 9:00 a.m.
Offering Details
- Total Number of Offer Shares: 247,692,800 H Shares
- Hong Kong Offer Shares: 12,384,800 H Shares
- International Offer Shares: 235,308,000 H Shares
- Maximum Offer Price: HK$19.60 per H Share
- Nominal Value: RMB0.02 per H Share
Regulatory Approvals
The company has received a filing notice from the China Securities Regulatory Commission (CSRC) confirming the completion of the PRC filing procedures relevant to the IPO.
Important Notes for Investors
- The company operates as a Specialist Technology Company, which entails higher investment risks, including share price volatility.
- All Offer Shares have not been registered under the U.S. Securities Act and cannot be offered or sold in the U.S. except under specific exemptions.
Risk Factors
- The company has incurred net losses since its inception and may continue to do so post-IPO.
- Potential risks associated with international trade policies and export controls, especially following the addition of certain entities to the U.S. Entity List.
Additional Information
For further details, the official prospectus can be accessed through the Hong Kong Stock Exchange website.
Explore more exclusive insights at nextfin.ai.
