// Company Overview //
| Stock Name | 香江电器 |
|---|---|
| Stock Code | 02619 |
| Company Full Name | 香江电器 |
| Industry | 家電家用 |
| Principal Activities | 公司是中國的生活家居用品制造商，主要以ODM╱OEM模式營運，并已建立起由全球知名兼歷史悠久的品牌組成的客戶群，例如沃爾瑪、Telebrands、SEB、Sensio、Hamilton Beach及飛利浦等。 |
| Listing Date | 2025-06-25 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | No data |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國廣東省深圳市鹽田區海山街道沙頭角保稅區7棟7樓 |
| Business Address (Hong Kong) | No data |
| Place of Incorporation | No data |
| Listing Method | No data |
| Listing Board | Main Board |
| Website | https://www.xjgroup.com/ |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | (852)2980 1333 |
| A-Share/US Dual Listing | No |
// Offering Information //
| Offering Mechanism | 未知 |
|---|---|
| Clawback Tiers | No data |
| Prospectus Date | 2025-06-17 |
| Offer Price | HK$ 2.86 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 1,000 shares |
| Entry Threshold | HK$ 2,860 |
| Par Value | No data |
| Global Offering Shares | 68,220,000 |
| HK Public Offering Shares | — (0.0%) |
| International Placing Shares | — (0.0%) |
| Offer Ratio | No data |
| Total Shares Post-IPO | No data |
| Total Global Offering Size | HK$ 195,109,200 |
| Public Offering Size | HK$ — (0.0%) |
| Oversubscription Multiple | 852.4x |
| Valid Applications | 48,554 |
| Accepted Applications | 16,585 |
| Reallocation | No |
| Total Funds Raised | HK$ 97,554,600 |
| Greenshoe (Over-allotment Option) | Yes |
// Valuation & Financials //
| Market Cap (at Offer Price) | HK$ 0 |
|---|---|
| Pre-IPO Valuation (Last Round) | No data |
| P/E Ratio | 5.21 |
| Profit/Loss Status | No data |
| Period-End Cash Balance | No data |
| Listing Expenses | ~HK$ 39,540,000 |
| Listing Expenses / Funds Raised | No data |
| Total Pre-IPO Investment | No data |
// First Day Performance
| First Day Close | Loading... |
|---|---|
| First Day Open | HK$ 2.65 |
| First Day Change | -11.89% |
| First Day Volume | 30003000.0 |
| First Day Turnover | 80835800.0 |
// Price Chart //
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// Use of Proceeds
| Use of Proceeds | 1、約41.9%或71.9百萬港元預計將用于設立泰國廠房以增強全球布局； 2、約15.8%或27.2百萬港元預計將用于自動化與數字化升級改造以實現可持續增長； 3、約37.3%或64.1百萬港元預計將用于設立新研發中心； 4、約5.0%或8.6百萬港元預計將用作本集團的一般營運資金。 |
|---|
// Underwriting Syndicate //
独家保荐人 (1)
国金证券（香港）有限公司(sole)
整体协调人 (1)
国金证券（香港）有限公司(sole)
联席全球协调人 (2)
国金证券（香港）有限公司
建银国际金融有限公司
联席账簿管理人 (8)
国金证券（香港）有限公司
建银国际金融有限公司
农银国际融资有限公司
民银证券有限公司
招银国际融资有限公司
First Fidelity Capital (International) Limited
众宸证券有限公司
华盛资本证券有限公司
联席牵头经办人 (8)
国金证券（香港）有限公司
建银国际金融有限公司
农银国际证券有限公司
民银证券有限公司
招银国际融资有限公司
First Fidelity Capital (International) Limited
众宸证券有限公司
华盛资本证券有限公司
资本市场中介人 (1)
农银国际融资有限公司
// Service Providers //
| Role | Institution |
|---|---|
| 本公司法律顾问 |
德恒律师事务所（香港）有限法律责任合伙 中伦律师事务所 Law Offices of Bin Li & Associates SEA Law Firm DTL Law Office |
| 保荐人/包销商法律顾问 |
竞天公诚律师事务所有限法律责任合伙 信达律师事务所 |
| 核数师兼申报会计师 | 德勤•关黄陈方会计师行 |
| 行业顾问 | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| 收款银行 |
星展银行（香港）有限公司 中国工商银行（亚洲）有限公司 |
// Cornerstone Investors //
Allotment Results Announcement
| # | Investor Name | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|
| 1 | 潘允（備註1） | 204,659,509 | 75.00% | — | 2026-06-24 | 2026-06-24 |
| 2 | GuangshePan（備註1） | 204,659,509 | 75.00% | — | 2026-06-24 | 2026-06-24 |
| 3 | 蘄春華鈺科技管理中心 | 204,659,509 | 75.00% | — | 2026-06-24 | 2026-06-24 |
| 4 | 蘄春恒興科技管理中心 | 204,659,509 | 75.00% | — | 2026-06-24 | 2026-06-24 |
| 5 | Hubei Shunjie Investment (Hong Kong) Co., Limited╱ | 15,008,000 | 22.00% | 5.50% | — | — |
| 6 | HubeiShunjieInvestment | 15,008,000 | 22.00% | 5.50% | 2030-06-24 | 2030-06-24 |
| 7 | HongKongXinghuangHoldings | 11,256,000 | 16.50% | 4.12% | 2028-06-24 | 2028-06-24 |
| 8 | Hong Kong Yunxing Technology Trade Management Co., | 3,752,000 | 5.50% | 1.37% | — | — |
| 9 | HongKongYunxingTechnology | 3,752,000 | 5.50% | 1.37% | 2028-06-24 | 2028-06-24 |
// Directors & Management //
| Chairman | 潘允 |
|---|---|
| Company Secretary | 胡彥,吳浚鎧 |
No director data available.
// Major Shareholders //
| Major Shareholders & Holdings | 潘允(40.55%),蘄春華鈺科技管理中心(有限合伙)(19.79%),蘄春恒興科技管理中心(有限合伙)(14.66%) |
|---|
// Allotment Benchmarks //
Pool A (Small Subscriptions)
| Shares Applied | Applicants | Allottees | Expected Lots |
|---|---|---|---|
| 1,000 | 16,805 | 1,681 | 0.10 |
| 2,000 | 6,379 | 957 | 0.15 |
| 3,000 | 1,934 | 349 | 0.18 |
| 4,000 | 757 | 149 | 0.20 |
| 5,000 | 1,365 | 285 | 0.21 |
| 6,000 | 613 | 139 | 0.23 |
| 7,000 | 325 | 79 | 0.24 |
| 8,000 | 383 | 99 | 0.26 |
| 9,000 | 367 | 101 | 0.28 |
| 10,000 | 3,591 | 1,027 | 0.29 |
| 15,000 | 890 | 307 | 0.34 |
| 20,000 | 1,152 | 453 | 0.39 |
| 25,000 | 1,172 | 510 | 0.43 |
| 30,000 | 1,106 | 523 | 0.47 |
| 35,000 | 355 | 180 | 0.51 |
| 40,000 | 482 | 260 | 0.54 |
| 45,000 | 297 | 169 | 0.57 |
| 50,000 | 857 | 511 | 0.59 |
| 60,000 | 600 | 389 | 0.65 |
| 70,000 | 373 | 260 | 0.70 |
| 80,000 | 357 | 264 | 0.74 |
| 90,000 | 335 | 262 | 0.78 |
| 100,000 | 2,354 | 1,926 | 0.82 |
| 200,000 | 1,335 | 1,335 | 1.00 |
| 300,000 | 914 | 350 | 1.38 |
| 400,000 | 333 | 193 | 1.56 |
| 500,000 | 313 | 237 | 1.75 |
| 600,000 | 213 | 182 | 1.86 |
| 700,000 | 120 | 119 | 1.96 |
| 800,000 | 110 | 110 | 2.00 |
| 900,000 | 97 | 19 | 2.16 |
| 1,000,000 | 610 | 213 | 2.30 |
| 1,500,000 | 912 | 507 | 8.55 |
Pool B (Large Subscriptions)
| Shares Applied | Applicants | Allottees | Expected Lots |
|---|---|---|---|
| 2,000,000 | 332 | 332 | 10.00 |
| 2,500,000 | 81 | 81 | 12.00 |
| 3,000,000 | 65 | 65 | 14.10 |
| 3,411,000 | 270 | 270 | 15.01 |
Allotment Benchmarks
