云工场 02512 Prospectus Information

IPO Timeline

Broker Deadline

2024-06-11

Morning deadline

HKEX Deadline

2024-06-11

Noon deadline

Broker Results (T-2)

2024-06-12

Some brokers release in afternoon

Grey Market (T-1)

2024-06-13

Afternoon

HKEX Allotment (T-1)

2024-06-13

Evening

Registrar Allotment (T-1)

2024-06-13

Evening

Listing Day (T)

2024-06-14

First day of trading

Company Overview

Stock Name	云工场
Stock Code	02512
Company Full Name	云工场
Industry	軟件服務
Principal Activities	公司為客戶提供全面且可靠的IDC解決方案服務，公司客戶為中國主要頂尖互聯網公司及云計算服務供應商。
Listing Date	2024-06-14
Listing Rules Era	Old Rules
Listing Rules Chapter	To be extracted
Weighted Voting Rights (WVR)	No
Registered Address (Mainland China)	中國江蘇省無錫市新吳區菱湖大道228號天安智慧城2-601
Business Address (Hong Kong)	To be extracted
Place of Incorporation	To be extracted
Listing Method	To be extracted
Listing Board	Main Board
Website	https://www.cloudcsp.com/zh-cn
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

Offering Information

Offering Mechanism	To be extracted
Offer Price	HK$ 4.60 / shares
Offer Price Range	To be extracted
Lot Size	To be extracted
Entry Threshold	To be extracted
Par Value	To be extracted
Offer Period	To be extracted
Global Offering Shares	To be extracted
HK Public Offer Shares (Initial)	To be extracted
Public Offer Lots (Initial)	To be extracted
International Placing Shares (Initial)	To be extracted
Offer Ratio	To be extracted
Total Shares Post-IPO	To be extracted
Greenshoe (Over-allotment Option)	Yes
Stabilizing Manager (Greenshoe)	To be extracted
Cornerstone Share	0%
Clawback Tiers	To be extracted
Reallocation Option	No
Total Global Offering Size	HK$ 158,700,000

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	1,000	HK$ 4,600
2 lots	2,000	HK$ 9,200
3 lots	3,000	HK$ 13,800
4 lots	4,000	HK$ 18,400
5 lots	5,000	HK$ 23,000
6 lots	6,000	HK$ 27,600
7 lots	7,000	HK$ 32,200
8 lots	8,000	HK$ 36,800
9 lots	9,000	HK$ 41,400
10 lots	10,000	HK$ 46,000
15 lots	15,000	HK$ 69,000
20 lots	20,000	HK$ 92,000
25 lots	25,000	HK$ 115,000
30 lots	30,000	HK$ 138,000
35 lots	35,000	HK$ 161,000
40 lots	40,000	HK$ 184,000
45 lots	45,000	HK$ 207,000
50 lots	50,000	HK$ 230,000
60 lots	60,000	HK$ 276,000
70 lots	70,000	HK$ 322,000
80 lots	80,000	HK$ 368,000
90 lots	90,000	HK$ 414,000
100 lots	100,000	HK$ 460,000
200 lots	200,000	HK$ 920,000
300 lots	300,000	HK$ 1,380,000
400 lots	400,000	HK$ 1,840,000
500 lots	500,000	HK$ 2,300,000
600 lots	600,000	HK$ 2,760,000
700 lots	700,000	HK$ 3,220,000
800 lots	800,000	HK$ 3,680,000
900 lots	900,000	HK$ 4,140,000
1,000 lots	1,000,000	HK$ 4,600,000

Pool B

Lots Subscribed	Shares Subscribed	Subscription Amount (HKD)
1,200 lots	1,200,000	HK$ 5,520,000
1,800 lots	1,800,000	HK$ 8,280,000
5,750 lots	5,750,000	HK$ 26,450,000

Valuation & Financials

Market Cap (at Offer Price)	To be extracted
Pre-IPO Valuation (Last Round)	To be extracted
P/E Ratio	To be extracted
Profit/Loss Status	To be extracted
Period-End Cash Balance	To be extracted
Listing Expenses	To be extracted
Listing Expenses / Funds Raised	To be extracted
Total Pre-IPO Investment	To be extracted

First Day Performance

First Day Close	HK$ 3.8
First Day Open	HK$ 4.37
First Day Change	-17.39%
First Day Volume	29280600.0
First Day Turnover	125870000.0

Use of Proceeds

Use of Proceeds	1、約47.7%或160.4百萬港元將用于投資各類技術，以改進服務質量并提升運營效率； 2、約18.5%或62.3百萬港元將用于通過開發邊緣計算基礎設施來提升靈境云能力； 3、約12.8%或43.0百萬港元將用于執行邊緣計算運營及邊緣云平臺的組成部分的招聘計劃； 4、約11.0%或37.1百萬港元將用于開發邊緣計算技術，并繼續將新技術整合至服務中，以更好地服務客戶； 5、約10.0%或33.7百萬港元將用作運營資金及一般企業用途。

1、約47.7%或160.4百萬港元將用于投資各類技術，以改進服務質量并提升運營效率； 2、約18.5%或62.3百萬港元將用于通過開發邊緣計算基礎設施來提升靈境云能力； 3、約12.8%或43.0百萬港元將用于執行邊緣計算運營及邊緣云平臺的組成部分的招聘計劃； 4、約11.0%或37.1百萬港元將用于開發邊緣計算技術，并繼續將新技術整合至服務中，以更好地服務客戶； 5、約10.0%或33.7百萬港元將用作運營資金及一般企業用途。

Underwriting Syndicate

Sole Sponsor (1)

浦银国际融资有限公司 CE BFZ375(sole)

Sponsor cum Overall Coordinator (1)

浦银国际融资有限公司 CE BFZ375(sole)

Overall Coordinators (1)

浦银国际融资有限公司 CE BFZ375

Joint Global Coordinators (3)

浦银国际融资有限公司 CE BFZ375 招银国际融资有限公司 CE AVM940 中信里昂证券有限公司 CE AAB893

Joint Bookrunners (11)

浦银国际融资有限公司 CE BFZ375 招银国际融资有限公司 CE AVM940 中信里昂证券有限公司 CE AAB893 光银国际资本有限公司 CE BGH296 利弗莫尔证券有限公司 CE BJN764 安信国际证券（香港）有限公司第一上海证券有限公司 CE ABV488 民银证券有限公司 CE APU820 建银国际金融有限公司 CE AJO225 复星国际证券有限公司 CE AAF432 富途证券国际（香港）有限公司 CE AZT137

Joint Lead Managers (11)

Capital Market Intermediaries (11)

Service Providers

Role	Institution
Legal Advisor to Company	中伦律师事务所有限法律责任合伙中伦律师事务所奥杰律师事务所北京大成律师事务所
Legal Advisor to Sponsors/Underwriters	金杜律师事务所金杜律师事务所
Auditor and Reporting Accountant	安永会计师事务所
Industry Advisor	弗若斯特沙利文（北京）咨询有限公司上海分公司
Receiving Banks	招商永隆银行

Cornerstone Investors

This stock has no cornerstone investors.

Directors & Management

Chairman	孫濤
Company Secretary	鄭璟燁;林芷晴

No director data available.

Major Shareholders

Major Shareholders & Holdings	Ru Yi Information Technology Co., Ltd(75%)

AI AI Analysis

Market Sentiment

The IPO was modestly oversubscribed at 25.79x, indicating moderate retail interest. Unusually, the hit rate reached 100% despite the oversubscription, likely due to reallocation of shares from the international tranche to the Hong Kong public offering (clawback Tier A triggered). This rare outcome suggests the offer size was sufficiently large relative to the number of applicants, allowing every valid application to receive at least one lot. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Tier Analysis

The tier allocation reveals a striking flatness: both the A-tail (applying for 1,000,000 shares) and the B-head (applying for 1,200,000 shares) received an expected 1.0 lot apiece. This creates a clear inefficiency for larger investors, as the incremental capital required at the B-head yields no additional shares, making it an unattractive value proposition after accounting for typically higher broker fees and opportunity costs. Investors would have been better off applying at lower tiers to achieve similar allocations with lower transaction expenses. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice. Broker fee structures vary and actual costs may differ.)

Demographics

The provided data lacks demographic breakdowns, showing zero participants from Mainland China and Hong Kong, which likely indicates incomplete reporting rather than an actual absence of regional investors. With only 8,846 total valid applications, the applicant pool was relatively small, but no insights into geographic or gender distribution can be drawn from the available figures. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice. Data may contain errors or omissions from source documents — verify against official HKEX filings.)

Subscription Tiers

IPO Timeline

云工场 02512Prospectus Information

Market Sentiment

Tier Analysis

Demographics