申万宏源证券(香港)有限公司 CE AAC927交银国际证券有限公司 CE APJ121华泰金融控股(香港)有限公司 CE AOK809
Joint Global Coordinators (3)
申万宏源证券(香港)有限公司 CE AAC927交银国际证券有限公司 CE APJ121华泰金融控股(香港)有限公司 CE AOK809
Joint Bookrunners (10)
申万宏源证券(香港)有限公司 CE AAC927交银国际证券有限公司 CE APJ121华泰金融控股(香港)有限公司 CE AOK809广发证券(香港)经纪有限公司招银国际融资有限公司 CE AVM940农银国际融资有限公司 CE AWL249浙商国际金融控股有限公司 CE BGD825招商证券(香港)有限公司 CE AAI650民银证券有限公司 CE APU820国证国际证券(香港)有限公司 CE AUW685
Joint Lead Managers (13)
申万宏源证券(香港)有限公司 CE AAC927交银国际证券有限公司 CE APJ121华泰金融控股(香港)有限公司 CE AOK809广发证券(香港)经纪有限公司招银国际融资有限公司 CE AVM940农银国际证券有限公司 CE ACX411浙商国际金融控股有限公司 CE BGD825招商证券(香港)有限公司 CE AAI650民银证券有限公司 CE APU820国证国际证券(香港)有限公司 CE AUW685富途证券国际(香港)有限公司 CE AZT137利弗莫尔证券有限公司 CE BJN764老虎证券(香港)环球有限公司 CE BMU940
Capital Market Intermediaries (14)
申万宏源证券(香港)有限公司 CE AAC927交银国际证券有限公司 CE APJ121华泰金融控股(香港)有限公司 CE AOK809广发证券(香港)经纪有限公司招银国际融资有限公司 CE AVM940农银国际融资有限公司 CE AWL249农银国际证券有限公司 CE ACX411浙商国际金融控股有限公司 CE BGD825招商证券(香港)有限公司 CE AAI650民银证券有限公司 CE APU820国证国际证券(香港)有限公司 CE AUW685富途证券国际(香港)有限公司 CE AZT137利弗莫尔证券有限公司 CE BJN764老虎证券(香港)环球有限公司 CE BMU940
Service Providers
Role
Institution
Legal Advisor to Company
嘉源律师事务所
金杜律师事务所
迈普达律师事务所(香港)有限法律责任合伙
蓝钰法律事务所
Legal Advisor to Sponsors/Underwriters
竞天公诚律师事务所有限法律责任合伙
竞天公诚律师事务所
Auditor and Reporting Accountant
安永会计师事务所
Industry Advisor
上海艾瑞市场咨询有限公司
Receiving Banks
中国银行(香港)有限公司
中信银行(国际)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
禾顺有限合伙
175,725,000 HKD
—
40.00%
—
6 months
2025-04-16
Directors & Management
Chairman
許式偉
Company Secretary
張袁昊;梁君慧
No director data available.
Major Shareholders
Major Shareholders & Holdings
Dream Galaxy(16.52%),淘寶中國(16.27%),Magic Logistics(11.44%),MPC II L.P(7.34%),永祿控股(6.74%),啟明基金(6.29%)
AIAI Analysis
!
The following content is generated by an AI model based on historical IPO data. It does NOT constitute investment advice, solicitation, or recommendation. Past subscription patterns and post-listing performance do not guarantee future results. Data may contain inaccuracies — always verify against official HKEX filings and prospectuses before making any investment decision.
Market Sentiment
The oversubscription ratio of 19.87x signals moderate investor enthusiasm rather than extreme hype. An unusually high hit rate of 91.46% indicates that most applicants received allocations, which may reflect a relatively generous allocation policy or subdued institutional demand. The final offer price was set at HK$2.75, but no pricing range is available for comparison. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
The tail of the A-tier (甲尾) expects 1.0 lot for an investment of HK$1,000,000, while the head of the B-tier (乙头) also expects 1.0 lot but requires HK$2,000,000, making the B-tier capital considerably less efficient. This flattening across tiers suggests that the clawback mechanism or allocation algorithm provided no advantage to tier-B applicants, which is atypical and may disadvantage larger applicants. Broker fee structures vary, so the higher capital outlay at tier B could exacerbate net inefficiencies. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Mainland Chinese investors dominate the applicant pool at 70.9%, signaling strong interest from cross-border participants in this Hong Kong IPO. The gender split is skewed male (66.9%) and the average age is 43.0, indicating a mature, likely experienced investor base. No regional concentration data is available, but the high mainland percentage suggests a heavy Guangdong or Greater Bay Area tilt. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Subscription Tiers
IPO Timeline
Disclaimer & Risk Warning
Site Nature: This website (cibo.qizai.ai) is an independent technology product showcase platform established by Panda Securities Limited (CE Number: BNC380). This website itself and all content displayed herein do not constitute and are not involved in any regulated activity or licensed service.
Not Investment Advice: The data on this page is automatically extracted from prospectus PDFs by AI and may contain omissions or errors. All information and data on this page are sourced from prospectuses and related historical documents, are not real-time data, and will not be automatically updated, reflecting historical information at the time of prospectus publication. All content is provided solely for AI tool analysis learning exchange and technical reference purposes, and absolutely does not constitute any investment advice, offer to buy or sell, solicitation, recommendation, or guarantee. The output of this AI analysis tool should not be interpreted as investment opinion.
Decision Responsibility: Users should make investment decisions based on their own independent judgment and consult independent licensed financial advisors when needed. Neither the Company nor this AI analysis tool shall bear any responsibility for any investment decisions made by users based on the information on this page.
Separation from Panda Securities Official Website: The content of this website is strictly distinct from the SFC-regulated licensed services provided by Panda Securities' official website (fafa.hk). No securities trading or account opening or other regulated operations can be conducted through this website.
Panda Securities Limited is a licensed corporation regulated by the Hong Kong SFC (CE Number: BNC380) and a Hong Kong Exchange Participant (Participant ID: 02229). Use of this website constitutes acceptance of this disclaimer.