IPO Timeline
Broker Deadline
2025-01-06
Morning deadline
HKEX Deadline
2025-01-06
Noon deadline
Broker Results (T-2)
2025-01-07
Some brokers release in afternoon
Grey Market (T-1)
2025-01-08
Afternoon
HKEX Allotment (T-1)
2025-01-08
Evening
Registrar Allotment (T-1)
2025-01-08
Evening
Listing Day (T)
2025-01-09
First day of trading
Company Overview
| Stock Name | 海螺材料科技 |
|---|---|
| Stock Code | 02560 |
| Company Full Name | 海螺材料科技 |
| Industry | 原材料 |
| Principal Activities | 公司是一家生產及銷售水泥外加劑、混凝土外加劑及其相關上游原材料的精細化工材料供應商。 |
| Listing Date | 2025-01-09 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國安徽省蕪湖市皖江江北新興產業集中區通江大道南側150米江北新區建設指揮部G區1-301號 |
| Business Address (Hong Kong) | To be extracted |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | http://www.conchmst.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 | To be extracted |
|---|---|
| Offer Price | HK$ 3.30 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | To be extracted |
| Entry Threshold | To be extracted |
| Par Value | To be extracted |
| Offer Period | 2024-12-31 to 2025-01-06 |
| 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) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 69.9% |
| Clawback Tiers | To be extracted |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 130,479,000 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 1,000 | HK$ 3,300 |
| 2 lots | 2,000 | HK$ 6,600 |
| 3 lots | 3,000 | HK$ 9,900 |
| 4 lots | 4,000 | HK$ 13,200 |
| 5 lots | 5,000 | HK$ 16,500 |
| 6 lots | 6,000 | HK$ 19,800 |
| 7 lots | 7,000 | HK$ 23,100 |
| 8 lots | 8,000 | HK$ 26,400 |
| 9 lots | 9,000 | HK$ 29,700 |
| 10 lots | 10,000 | HK$ 33,000 |
| 15 lots | 15,000 | HK$ 49,500 |
| 20 lots | 20,000 | HK$ 66,000 |
| 25 lots | 25,000 | HK$ 82,500 |
| 30 lots | 30,000 | HK$ 99,000 |
| 35 lots | 35,000 | HK$ 115,500 |
| 40 lots | 40,000 | HK$ 132,000 |
| 45 lots | 45,000 | HK$ 148,500 |
| 50 lots | 50,000 | HK$ 165,000 |
| 60 lots | 60,000 | HK$ 198,000 |
| 70 lots | 70,000 | HK$ 231,000 |
| 80 lots | 80,000 | HK$ 264,000 |
| 90 lots | 90,000 | HK$ 297,000 |
| 100 lots | 100,000 | HK$ 330,000 |
| 200 lots | 200,000 | HK$ 660,000 |
| 300 lots | 300,000 | HK$ 990,000 |
| 400 lots | 400,000 | HK$ 1,320,000 |
| 500 lots | 500,000 | HK$ 1,650,000 |
| 600 lots | 600,000 | HK$ 1,980,000 |
| 700 lots | 700,000 | HK$ 2,310,000 |
| 800 lots | 800,000 | HK$ 2,640,000 |
| 900 lots | 900,000 | HK$ 2,970,000 |
| 1,000 lots | 1,000,000 | HK$ 3,300,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 2,000 lots | 2,000,000 | HK$ 6,600,000 |
| 3,000 lots | 3,000,000 | HK$ 9,900,000 |
| 7,249 lots | 7,249,000 | HK$ 23,921,700 |
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$ 1.57 |
|---|---|
| First Day Open | HK$ 1.8 |
| First Day Change | -42.00% |
| First Day Volume | 49011000.0 |
| First Day Turnover | 86807300.0 |
Use of Proceeds
| Use of Proceeds | 1、約35.0%或146.2百萬港元將用于優化公司產能，同時有效擴大公司在中國及若干海外國家的地理覆蓋范圍； 2、約10.0%或41.8百萬港元將用于實施營銷計劃； 3、約15.0%或62.6百萬港元將用于投入更多資源到公司的研發計劃中； 4、約15.0%或62.6百萬港元將用于償還部分銀行貸款； 5、約15.0%或62.6百萬港元將用于收購或成立合資公司； 6、約10.0%或41.8百萬港元將用作營運資金和其他一般企業用途。 |
|---|
Underwriting Syndicate
Sole Sponsor (1)
中信建投（国际）融资有限公司 CE BAU112
Overall Coordinators (6)
中信建投（国际）融资有限公司 CE BAU112
中国银河国际证券（香港）有限公司 CE AXM459
中银国际亚洲有限公司 CE AET863
农银国际证券有限公司 CE ACX411
工银国际证券有限公司 CE ARO299
胜利证券有限公司 CE ABN091
Joint Bookrunners (18)
中信建投（国际）融资有限公司 CE BAU112
中国银河国际证券（香港）有限公司 CE AXM459
中银国际亚洲有限公司 CE AET863
农银国际证券有限公司 CE ACX411
工银国际证券有限公司 CE ARO299
胜利证券有限公司 CE ABN091
申万宏源证券（香港）有限公司 CE AAC927
建银国际金融有限公司 CE AJO225
海通国际证券有限公司 CE AAF806
星河证券有限公司 CE BJG526
GUOYUAN SECURITIES BROKERAGE (HONG KONG) LIMITED CE AOA594
东方证券（香港）有限公司 CE AVD362
浦银国际融资有限公司 CE BFZ375
兴证国际融资有限公司 CE BAK956
交银国际证券有限公司 CE APJ121
复星国际证券有限公司 CE AAF432
华升证券（国际）有限公司 CE AFS030
洪泰证券有限公司 CE BJK437
Joint Lead Managers (18)
中信建投（国际）融资有限公司 CE BAU112
中国银河国际证券（香港）有限公司 CE AXM459
中银国际亚洲有限公司 CE AET863
农银国际证券有限公司 CE ACX411
工银国际证券有限公司 CE ARO299
胜利证券有限公司 CE ABN091
申万宏源证券（香港）有限公司 CE AAC927
建银国际金融有限公司 CE AJO225
海通国际证券有限公司 CE AAF806
星河证券有限公司 CE BJG526
GUOYUAN SECURITIES BROKERAGE (HONG KONG) LIMITED CE AOA594
东方证券（香港）有限公司 CE AVD362
浦银国际融资有限公司 CE BFZ375
兴证国际融资有限公司 CE BAK956
交银国际证券有限公司 CE APJ121
复星国际证券有限公司 CE AAF432
华升证券（国际）有限公司 CE AFS030
洪泰证券有限公司 CE BJK437
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | SCGC资本控股有限公司 | 47,109,000 HKD | — | 10.83% | — | 6 months | 2025-07-09 |
| 2 | 安徽盛昌化工有限公司 | 70,026,000 HKD | — | 16.10% | — | 6 months | 2025-07-09 |
| 3 | 广东纵行科技有限公司 | 20,268,000 HKD | — | 4.66% | — | 6 months | 2025-07-09 |
| 4 | 国轩高科股份有限公司 | 52,629,000 HKD | — | 12.10% | — | 6 months | 2025-07-09 |
| 5 | 深圳高灯计算机科技有限公司 | 61,053,000 HKD | — | 14.04% | — | 6 months | 2025-07-09 |
| 6 | 芜湖阿泰克生物科技有限公司 | 53,025,000 HKD | — | 12.19% | — | 6 months | 2025-07-09 |
Directors & Management
| Chairman | 丁鋒 |
|---|---|
| Company Secretary | 孫華東,陳曦 |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | 安徽海螺科創材料有限責任公司(36.47%),湖北鑫統領股權投資有限公司(18.07%),臨沂海宏新型材料科技有限公司(12.65%) |
|---|
AI
AI Analysis
Market Sentiment
The IPO saw a 25.83x oversubscription, indicating steady retail demand. The overall hit rate of 81.66% is quite high, suggesting allocations were relatively accessible. Pricing at HK$3.00 likely attracted broad interest. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
A-tail applicants applying for 1,000,000 shares and B-head applicants applying for 2,000,000 shares both expected only 1 lot each, an extremely inefficient allocation. This near-zero return for larger subscriptions means the marginal cost of scaling up is wasted, creating a severe tier anomaly. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Mainland China participation was dominant at 86.4%, reflecting strong cross-border interest. The investor base is mostly male (58.1%) with an average age of 43.3 years, showing a mature retail demographic. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Subscription Tiers
IPO Timeline
