// Company Overview //
| Stock Name | 宁德时代 |
|---|---|
| Stock Code | 03750 |
| Company Full Name | 宁德时代 |
| Industry | 工業制造 |
| Principal Activities | 公司是一家全球領先的新能源創新科技公司，要從事動力電池、儲能電池的研發、生產、銷售，以推動移動式化石能源替代、固定式化石能源替代，并通過電動化和智能化實現市場應用的集成創新。 |
| Listing Date | 2025-05-20 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | No data |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國福建省寧德市蕉城區漳灣鎮新港路2號 |
| Business Address (Hong Kong) | No data |
| Place of Incorporation | No data |
| Listing Method | No data |
| Listing Board | Main Board |
| Website | https://www.catl.com/ |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | (852)2862 8628 |
| A-Share/US Dual Listing | No data |
// Offering Information //
| Offering Mechanism | 机制B |
|---|---|
| Clawback Tiers | 机制B不设回拨，公开发售占比维持7.5% |
| Prospectus Date | 2025-05-12 |
| Offer Price | HK$ 263.00 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 26,300 |
| Par Value | No data |
| Global Offering Shares | 135,578,600 |
| HK Public Offering Shares | 10,168,400 (7.5%) |
| International Placing Shares | — (0.0%) |
| Offer Ratio | No data |
| Total Shares Post-IPO | No data |
| Total Global Offering Size | HK$ 35,657,171,800 |
| Public Offering Size | HK$ 2,674,289,200 (7.5%) |
| Oversubscription Multiple | 15.2x |
| Valid Applications | 310,827 |
| Accepted Applications | 69,891 |
| Reallocation | No |
| Total Funds Raised | HK$ 2,674,289,200 |
| Greenshoe (Over-allotment Option) | No data |
| Final Public Offering Share | 7.5% |
// Valuation & Financials //
| Market Cap (at Offer Price) | HK$ 0 |
|---|---|
| Pre-IPO Valuation (Last Round) | No data |
| P/E Ratio | 21.42 |
| Profit/Loss Status | No data |
| Period-End Cash Balance | No data |
| Listing Expenses | ~HK$ 325,900,000 |
| Listing Expenses / Funds Raised | No data |
| Total Pre-IPO Investment | No data |
// First Day Performance
| First Day Close | Loading... |
|---|---|
| First Day Open | HK$ 296.0 |
| First Day Change | 16.43% |
| First Day Volume | 27692300.0 |
| First Day Turnover | 8284440000.0 |
// Price Chart //
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// Use of Proceeds
| Use of Proceeds | 1、約90%或27,646.1百萬港元將用于推進匈牙利項目第一期及第二期建設； 2、約10%或3,071.8百萬港元將用于營運資金及其他一般企業用途。 |
|---|
// Underwriting Syndicate //
联席保荐人 (4)
中国国际金融香港证券有限公司
中信建投（国际）融资有限公司
摩根大通证券(远东)有限公司
Merrill Lynch (Asia Pacific) Limited
整体协调人 (9)
中国国际金融香港证券有限公司
中信建投（国际）融资有限公司
J.P. Morgan Securities (Asia Pacific) Limited
Merrill Lynch (Asia Pacific) Limited
高盛（亚洲）有限责任公司
摩根士丹利亚洲有限公司
瑞银证券香港有限公司
法国巴黎证券（亚洲）有限公司
国泰君安证券（香港）有限公司
联席账簿管理人 (9)
中国国际金融香港证券有限公司
中信建投（国际）融资有限公司
J.P. Morgan Securities (Asia Pacific) Limited
Merrill Lynch (Asia Pacific) Limited
高盛（亚洲）有限责任公司
摩根士丹利亚洲有限公司
瑞银证券香港有限公司
法国巴黎证券（亚洲）有限公司
国泰君安证券（香港）有限公司
联席牵头经办人 (9)
中国国际金融香港证券有限公司
中信建投（国际）融资有限公司
J.P. Morgan Securities (Asia Pacific) Limited
Merrill Lynch (Asia Pacific) Limited
高盛（亚洲）有限责任公司
摩根士丹利亚洲有限公司
瑞银证券香港有限公司
法国巴黎证券（亚洲）有限公司
国泰君安证券（香港）有限公司
// Cornerstone Investors //
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | Abstract Enigma Limited | 775,139,900 HKD | — | 2.17% | — | 6 months | 2025-11-20 |
| 2 | CPE Redwood Investment Limited | 620,101,400 HKD | — | 1.74% | — | 6 months | 2025-11-20 |
| 3 | Hillhouse Funds | 1,550,306,100 HKD | — | 4.35% | — | 6 months | 2025-11-20 |
| 4 | Lingotto Innovation Master Fund | 232,544,600 HKD | — | 0.65% | — | 6 months | 2025-11-20 |
| 5 | LMR Multi-Strategy Master Fund Limited | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
| 6 | Mirae投资者 | 465,089,200 HKD | — | 1.30% | — | 6 months | 2025-11-20 |
| 7 | MX Bright Charm (BVI) Limited | 542,595,300 HKD | — | 1.52% | — | 6 months | 2025-11-20 |
| 8 | Oaktree Funds | 581,361,500 HKD | — | 1.63% | — | 6 months | 2025-11-20 |
| 9 | Perseverance Asset Management International (Singapore) Pte. Ltd. | 620,101,400 HKD | — | 1.74% | — | 6 months | 2025-11-20 |
| 10 | Pinpoint Asset Management Limited | 775,139,900 HKD | — | 2.17% | — | 6 months | 2025-11-20 |
| 11 | RBC Global Asset Management (Asia) Limited | 410,832,300 HKD | — | 1.15% | — | 6 months | 2025-11-20 |
| 12 | UBS Asset Management (Singapore) Ltd. | 775,139,900 HKD | — | 2.17% | — | 6 months | 2025-11-20 |
| 13 | WT Asset Management Limited | 775,139,900 HKD | — | 2.17% | — | 6 months | 2025-11-20 |
| 14 | Zenith Hop International Limited | 852,646,000 HKD | — | 2.39% | — | 6 months | 2025-11-20 |
| 15 | 景林资产管理香港有限公司 | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
| 16 | 科威特投资局 | 3,875,778,400 HKD | — | 10.87% | — | 6 months | 2025-11-20 |
| 17 | 洛阳科创集团有限公司 | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
| 18 | 上海高毅及CICC Financial Trading Limited | 930,178,400 HKD | — | 2.61% | — | 6 months | 2025-11-20 |
| 19 | 上海景林及CICC Financial Trading Limited | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
| 20 | 太平洋资产管理有限责任公司 | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
| 21 | 泰康人寿保险有限责任公司 | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
| 22 | 中石化(香港)有限公司 | 3,875,778,400 HKD | — | 10.87% | — | 6 months | 2025-11-20 |
| 23 | 中邮理财有限责任公司 | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
// Directors & Management //
| Chairman | 曾毓群 |
|---|---|
| Company Secretary | 蔣理,簡雪艮 |
No director data available.
// Major Shareholders //
| Major Shareholders & Holdings | 廈門瑞庭投資有限公司(22.66%),黃世霖(10.39%),寧波聯合創新新能源投資管理合伙企業(有限合伙)(6.29%) |
|---|
// Allotment Benchmarks //
Pool A (Small Subscriptions)
| Shares Applied | Applicants | Allottees | Expected Lots |
|---|---|---|---|
| 100 | 105,175 | 105,175 | 0.10 |
| 200 | 33,234 | 33,234 | 0.11 |
| 300 | 18,622 | 18,622 | 0.14 |
| 400 | 13,693 | 13,693 | 0.16 |
| 500 | 15,533 | 15,533 | 0.17 |
| 600 | 5,531 | 5,531 | 0.17 |
| 700 | 4,773 | 4,773 | 0.18 |
| 800 | 4,600 | 4,600 | 0.19 |
| 900 | 2,947 | 2,947 | 0.20 |
| 1,000 | 35,843 | 35,843 | 0.20 |
| 2,000 | 16,383 | 16,383 | 0.30 |
| 3,000 | 7,834 | 7,834 | 0.33 |
| 4,000 | 5,779 | 5,779 | 0.36 |
| 5,000 | 4,620 | 4,620 | 0.38 |
| 6,000 | 2,525 | 2,525 | 0.39 |
| 7,000 | 1,993 | 1,993 | 0.42 |
| 8,000 | 1,901 | 1,901 | 0.44 |
| 9,000 | 1,233 | 1,233 | 0.44 |
| 10,000 | 9,559 | 9,559 | 0.45 |
Pool B (Large Subscriptions)
| Shares Applied | Applicants | Allottees | Expected Lots |
|---|---|---|---|
| 20,000 | 10,463 | 10,463 | 1.02 |
| 30,000 | 2,529 | 2,529 | 1.53 |
| 40,000 | 1,732 | 1,732 | 2.04 |
| 50,000 | 987 | 987 | 2.55 |
| 60,000 | 577 | 577 | 3.06 |
| 70,000 | 411 | 411 | 3.57 |
| 80,000 | 388 | 388 | 4.08 |
| 90,000 | 202 | 202 | 4.59 |
| 100,000 | 1,005 | 1,005 | 5.10 |
| 200,000 | 361 | 361 | 10.20 |
| 300,000 | 126 | 126 | 15.30 |
| 400,000 | 70 | 70 | 20.40 |
| 500,000 | 66 | 66 | 25.50 |
| 600,000 | 20 | 20 | 30.60 |
| 700,000 | 17 | 17 | 35.70 |
| 800,000 | 16 | 16 | 40.80 |
| 900,000 | 7 | 7 | 45.90 |
| 1,000,000 | 33 | 33 | 51.00 |
| 1,500,000 | 7 | 7 | 76.50 |
| 2,000,000 | 3 | 3 | 102.00 |
| 2,500,000 | 4 | 4 | 127.50 |
| 3,000,000 | 1 | 1 | 153.00 |
| 4,000,000 | 3 | 3 | 204.00 |
| 4,421,000 | 21 | 21 | 221.05 |
Allotment Benchmarks
