IPO Timeline
Broker Deadline
2026-04-29
Morning deadline
HKEX Deadline
2026-04-29
Noon deadline
Broker Results (T-2)
2026-04-30
Some brokers release in afternoon
Grey Market (T-1)
2026-05-04
Afternoon
HKEX Allotment (T-1)
2026-05-04
Evening
Registrar Allotment (T-1)
2026-05-04
Evening
Listing Day (T)
2026-05-05
First day of trading
Company Overview
| Stock Name | Tianxing Medical |
|---|---|
| Stock Code | 01609 |
| Company Full Name | Tianxing Medical |
| Industry | Biotech & Pharma |
| Principal Activities | China-based medical device company specializing in providing clinical sports medicine |
| Listing Date | 2026-05-05 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | No. 25, Jinghai 2nd Road Beijing Economic and Technological Development Zone Beijing, PRC |
| Business Address (Hong Kong) | 40/F, Dah Sing Financial Centre No. 248 Queen’s Road East Wanchai Hong Kong |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | starsportmed.com |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | Computershare Hong Kong Investor |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 98.50 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 50 shares |
| Entry Threshold | HK$ 4,925 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-04-24 to 2026-04-29 |
| Global Offering Shares | 8,421,850 shares |
| HK Public Offer Shares (Initial) | 842,200 shares (10.0%) |
| Public Offer Lots (Initial) | 16,844lots (8,422lots, 8,422lots) |
| International Placing Shares (Initial) | 7,579,650 shares (90.0%) |
| Offer Ratio | ~15.36% |
| Total Shares Post-IPO | 54,831,344 shares |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 0% |
| Clawback Tiers | 机制B-无回补 |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 829,552,225 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 50 | HK$ 4,925 |
| 2 lots | 100 | HK$ 9,850 |
| 3 lots | 150 | HK$ 14,775 |
| 4 lots | 200 | HK$ 19,700 |
| 5 lots | 250 | HK$ 24,625 |
| 6 lots | 300 | HK$ 29,550 |
| 7 lots | 350 | HK$ 34,475 |
| 8 lots | 400 | HK$ 39,400 |
| 9 lots | 450 | HK$ 44,325 |
| 10 lots | 500 | HK$ 49,250 |
| 12 lots | 600 | HK$ 59,100 |
| 14 lots | 700 | HK$ 68,950 |
| 16 lots | 800 | HK$ 78,800 |
| 18 lots | 900 | HK$ 88,650 |
| 20 lots | 1,000 | HK$ 98,500 |
| 30 lots | 1,500 | HK$ 147,750 |
| 40 lots | 2,000 | HK$ 197,000 |
| 50 lots | 2,500 | HK$ 246,250 |
| 60 lots | 3,000 | HK$ 295,500 |
| 70 lots | 3,500 | HK$ 344,750 |
| 80 lots | 4,000 | HK$ 394,000 |
| 90 lots | 4,500 | HK$ 443,250 |
| 100 lots | 5,000 | HK$ 492,500 |
| 200 lots | 10,000 | HK$ 985,000 |
| 300 lots | 15,000 | HK$ 1,477,500 |
| 400 lots | 20,000 | HK$ 1,970,000 |
| 500 lots | 25,000 | HK$ 2,462,500 |
| 600 lots | 30,000 | HK$ 2,955,000 |
| 700 lots | 35,000 | HK$ 3,447,500 |
| 800 lots | 40,000 | HK$ 3,940,000 |
| 900 lots | 45,000 | HK$ 4,432,500 |
| 1,000 lots | 50,000 | HK$ 4,925,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,200 lots | 60,000 | HK$ 5,910,000 |
| 1,400 lots | 70,000 | HK$ 6,895,000 |
| 1,600 lots | 80,000 | HK$ 7,880,000 |
| 1,800 lots | 90,000 | HK$ 8,865,000 |
| 2,000 lots | 100,000 | HK$ 9,850,000 |
| 3,000 lots | 150,000 | HK$ 14,775,000 |
| 4,000 lots | 200,000 | HK$ 19,700,000 |
| 5,000 lots | 250,000 | HK$ 24,625,000 |
| 6,000 lots | 300,000 | HK$ 29,550,000 |
| 7,000 lots | 350,000 | HK$ 34,475,000 |
| 8,422 lots | 421,100 | HK$ 41,478,350 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 5,400,887,384 |
|---|---|
| Pre-IPO Valuation (Last Round) | To be extracted |
| P/E Ratio | 不適用（公司處於虧損狀態） |
| Profit/Loss Status | 盈利約人民幣137.0百萬元 |
| Period-End Cash Balance | 人民币26,900,000元 |
| Listing Expenses | ~HK$ 2,000,000 |
| Listing Expenses / Funds Raised | ~8.6% |
| Total Pre-IPO Investment | To be extracted |
First Day Performance
| First Day Close | HK$ 0.64 |
|---|---|
| First Day Open | HK$ 0.62 |
| First Day Change | -8.57% |
| First Day Volume | 110035000.0 |
| First Day Turnover | 71691200.0 |
Use of Proceeds
| Use of Proceeds | 1、約30.0%或227.5百萬港元，將用于擴大生產能力并提升生產效率，以便能夠滿足快速增長的市場需求； 2、約35.0%或265.5百萬港元，將用于支持以患者為導向的產品策略的研發工作； 3、約25.0%或189.6百萬港元，將用于商業化、銷售及市場推廣活動，以鞏固在中國的領先地位并建立全球市場存在及品牌形象； 4、約10.0%或75.8百萬港元，將用于營運資金及一般企業用途。 |
|---|
Underwriting Syndicate
Joint Sponsors (2)
中信证券（香港）有限公司 CE AAK249
建银国际金融有限公司 CE AJO225
Sponsor cum Overall Coordinator (1)
中信里昂证券有限公司 CE AAB893
Overall Coordinators (3)
中信里昂证券有限公司 CE AAB893
建银国际金融有限公司 CE AJO225
中国银河国际证券（香港）有限公司 CE AXM459
Joint Global Coordinators (4)
中信里昂证券有限公司 CE AAB893
建银国际金融有限公司 CE AJO225
中国银河国际证券（香港）有限公司 CE AXM459
富途证券国际（香港）有限公司 CE AZT137
Joint Bookrunners (8)
中信里昂证券有限公司 CE AAB893
建银国际金融有限公司 CE AJO225
中国银河国际证券（香港）有限公司 CE AXM459
民银证券有限公司 CE APU820
富途证券国际（香港）有限公司 CE AZT137
开盘证券有限公司 CE ACS694
东方证券（香港）有限公司 CE AVD362
浙商国际金融控股有限公司 CE BGD825
Joint Lead Managers (8)
中信里昂证券有限公司 CE AAB893
建银国际金融有限公司 CE AJO225
中国银河国际证券（香港）有限公司 CE AXM459
民银证券有限公司 CE APU820
富途证券国际（香港）有限公司 CE AZT137
开盘证券有限公司 CE ACS694
东方证券（香港）有限公司 CE AVD362
浙商国际金融控股有限公司 CE BGD825
Capital Market Intermediaries (8)
中信里昂证券有限公司 CE AAB893
建银国际金融有限公司 CE AJO225
中国银河国际证券（香港）有限公司 CE AXM459
民银证券有限公司 CE APU820
富途证券国际（香港）有限公司 CE AZT137
开盘证券有限公司 CE ACS694
东方证券（香港）有限公司 CE AVD362
浙商国际金融控股有限公司 CE BGD825
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
高伟绅律师事务所 北京市中伦律师事务所 北京高沃律师事务所 |
| Legal Advisor to Sponsors/Underwriters |
欧华律师事务所 北京市天元律师事务所 |
| Auditor and Reporting Accountant | 安永会计师事务所 |
| Industry Advisor | 灼识行业咨询有限公司 |
| Receiving Banks | 招商永隆银行有限公司 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | Prime Development Limited | — | — | — | — | 6 months | 2026-11-05 |
| 2 | Enterprises Limited | — | — | — | — | 6 months | 2026-11-05 |
| 3 | 产业投资管理有限公司 | — | — | — | — | 6 months | 2026-11-05 |
| 4 | Mega Prime Development Limited | — | — | — | — | 6 months | 2026-11-05 |
| 5 | Poly Platinum Enterprises Limited | — | — | — | — | 6 months | 2026-11-05 |
Directors & Management
| Chairman | Mr. Dong Wenxing |
|---|---|
| Company Secretary | Ms. Liang Xiaodan |
執行董事 (2)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 董文兴 | — | 執行董事 |
| 2 | 和路 | — | 執行董事 |
非執行董事 (5)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 张迪 | — | 非執行董事 |
| 2 | 常喜 | — | 非執行董事 |
| 3 | 王国玮 | — | 非執行董事 |
| 4 | 易琳 | — | 非執行董事 |
| 5 | 周瑔 | — | 非執行董事 |
獨立非執行董事 (7)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 吕振林 | — | 獨立非執行董事 |
| 2 | 邓宇 | — | 獨立非執行董事 |
| 3 | 刘宝杰 | — | 獨立非執行董事 |
| 4 | 王春飞 | — | 獨立非執行董事 |
| 5 | 许景涛 | — | 獨立非執行董事 |
| 6 | 杨腾飞 | — | 獨立非執行董事 |
| 7 | 王亚丽 | — | 獨立非執行董事 |
Major Shareholders
| Major Shareholders & Holdings | CONTROLLING SHAREHOLDERS As of the Latest Practicable Date, there was no outstanding loan or guarantee provided by our Controlling Shareholders and their respective close associates. Based on the above, our Directors believe that we are capable of carrying on our business i |
|---|
AI
AI Analysis
Market Sentiment
The IPO saw overwhelming demand with an oversubscription ratio of 7,823x, signaling extreme retail enthusiasm. The overall hit rate of just 5.6% underscores the intensity of allocation competition. The fixed offer price of HK$98.5 leaves no pricing range dynamics to assess. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
The A-tail (50,000 lots applied) and B-head (60,000 lots) both received an expected allocation of just 1 lot, rendering the jump to B-tier cost-inefficient due to minimal incremental gain. With such low expected allocations, broker fee and interest costs likely erode any potential return for large applications. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Mainland China investors accounted for 59% of total holders, indicating strong cross-border interest in this medical device stock. Male applicants dominated at 60.4%, while the female share stood at 39.6%. No further regional breakdown is available. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Offering Structure
Subscription Tiers
IPO Timeline
