IPO Timeline
Broker Deadline
2025-09-24
Morning deadline
HKEX Deadline
2025-09-24
Noon deadline
Broker Results (T-2)
2025-09-26
Some brokers release in afternoon
Grey Market (T-1)
2025-09-29
Afternoon
HKEX Allotment (T-1)
2025-09-29
Evening
Registrar Allotment (T-1)
2025-09-29
Evening
Listing Day (T)
2025-09-30
First day of trading
Company Overview
| Stock Name | 西普尼 |
|---|---|
| Stock Code | 02583 |
| Company Full Name | 西普尼 |
| Industry | Semiconductors |
| Principal Activities | designer, manufacturer and brand-owner of gold-case watches and gold-bezel watches in China |
| Listing Date | 2025-09-30 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | Shuibei International Jewellery Centre 2901 No. 99 Beili North Road, Cuijin Community Cuizhu Street, Luohu District Shenzhen, Guangdong Province PRC |
| Business Address (Hong Kong) | 香港 灣仔 皇后大道東248號 大新金融中心 40樓 |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | www.hipine.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 | Mechanism B |
|---|---|
| Offer Price | HK$ 29.60 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 2,960 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2025-09-19 to 2025-09-24 |
| Global Offering Shares | 10,600,000 shares |
| HK Public Offer Shares (Initial) | 1,060,000 shares (10.0%) |
| Public Offer Lots (Initial) | 10,600lots (5,300lots, 5,300lots) |
| International Placing Shares (Initial) | 9,540,000 shares (90.0%) |
| Offer Ratio | ~18.02% |
| Total Shares Post-IPO | 58,825,000 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$ 313,760,000 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 2,960 |
| 2 lots | 200 | HK$ 5,920 |
| 3 lots | 300 | HK$ 8,880 |
| 4 lots | 400 | HK$ 11,840 |
| 5 lots | 500 | HK$ 14,800 |
| 6 lots | 600 | HK$ 17,760 |
| 7 lots | 700 | HK$ 20,720 |
| 8 lots | 800 | HK$ 23,680 |
| 9 lots | 900 | HK$ 26,640 |
| 10 lots | 1,000 | HK$ 29,600 |
| 15 lots | 1,500 | HK$ 44,400 |
| 20 lots | 2,000 | HK$ 59,200 |
| 25 lots | 2,500 | HK$ 74,000 |
| 30 lots | 3,000 | HK$ 88,800 |
| 35 lots | 3,500 | HK$ 103,600 |
| 40 lots | 4,000 | HK$ 118,400 |
| 45 lots | 4,500 | HK$ 133,200 |
| 50 lots | 5,000 | HK$ 148,000 |
| 60 lots | 6,000 | HK$ 177,600 |
| 70 lots | 7,000 | HK$ 207,200 |
| 80 lots | 8,000 | HK$ 236,800 |
| 90 lots | 9,000 | HK$ 266,400 |
| 100 lots | 10,000 | HK$ 296,000 |
| 200 lots | 20,000 | HK$ 592,000 |
| 300 lots | 30,000 | HK$ 888,000 |
| 400 lots | 40,000 | HK$ 1,184,000 |
| 500 lots | 50,000 | HK$ 1,480,000 |
| 600 lots | 60,000 | HK$ 1,776,000 |
| 700 lots | 70,000 | HK$ 2,072,000 |
| 800 lots | 80,000 | HK$ 2,368,000 |
| 900 lots | 90,000 | HK$ 2,664,000 |
| 1,000 lots | 100,000 | HK$ 2,960,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 2,000 lots | 200,000 | HK$ 5,920,000 |
| 3,000 lots | 300,000 | HK$ 8,880,000 |
| 4,000 lots | 400,000 | HK$ 11,840,000 |
| 5,300 lots | 530,000 | HK$ 15,688,000 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 1,741,220,000 |
|---|---|
| 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49.3百萬元 |
| Period-End Cash Balance | To be extracted |
| Listing Expenses | ~HK$ 44,600,000 |
| Listing Expenses / Funds Raised | ~14.87% |
| Total Pre-IPO Investment | To be extracted |
First Day Performance
| First Day Close | HK$ 106.0 |
|---|---|
| First Day Open | HK$ 84.0 |
| First Day Change | 258.11% |
| First Day Volume | 2822800.0 |
| First Day Turnover | 244685000.0 |
Use of Proceeds
| Use of Proceeds | 1、約40.28%，或102.87百萬港元（相當于約人民幣92.77百萬元），將用于進一步提升我們的產能，以鞏固我們在足金貴金屬手表及鑲足金的鑲貴金屬手表市場的地位，并把握智能手表及飾品市場的增長機遇； 2、約17.11%，或43.68百萬港元（相當于約人民幣39.39百萬元），將用于透過于新莆田生產基地建立莆田研發中心加強研發能力以推動業務持續增長； 3、約33.24%，或84.90百萬港元（相當于約人民幣76.56百萬元），將用于擴大及優化我們的銷售網絡、加強我們的品牌建設及提升我們的品牌影響力及知名度； 4、約9.37%或23.93百萬港元（相當于約人民幣21.58百萬元），將用作營運資金或一般企業用途。 |
|---|
Underwriting Syndicate
Sole Sponsor (1)
中国平安资本（香港）有限公司 CE AWB701
Overall Coordinators (1)
平证证券（香港）有限公司 CE BMC491
Joint Bookrunners (6)
平证证券（香港）有限公司 CE BMC491
中航资信环球资产管理有限公司 CE BHF812
盈立证券有限公司 CE BJA907
农银国际证券有限公司 CE ACX411
百惠证券有限公司 CE BPQ161
瑞邦证券有限公司 CE BIJ312
Joint Lead Managers (6)
平证证券（香港）有限公司 CE BMC491
中航资信环球资产管理有限公司 CE BHF812
盈立证券有限公司 CE BJA907
农银国际证券有限公司 CE ACX411
百惠证券有限公司 CE BPQ161
瑞邦证券有限公司 CE BIJ312
Cornerstone Investors
This stock has no cornerstone investors.
Directors & Management
| Chairman | 李永忠 |
|---|---|
| Company Secretary | Mr. Li Yangjin |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | SUBSTANTIAL SHAREHOLDERS So far as our Directors are aware, immediately following the completion of the Global Offering, the following persons will have an interest or a short position in our Shares or underlying Shares which will be required to be disclosed to our Company |
|---|
Offering Structure
Subscription Tiers
IPO Timeline
