| Stock Name | 讯众通信 |
|---|---|
| Stock Code | 02597 |
| Company Full Name | 讯众通信 |
| Industry | 軟件服務 |
| Principal Activities | 公司定位為智能云通信建設與服務商，致力于為企業和政府提供一體化、多層次的云通信服務，幫助用戶實現其營銷、運營等系統的全面數字化升級。 |
| Listing Date | 2025-07-09 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國北京市朝陽區將臺鄉酒仙橋北路乙10號院2號樓星地中心B座11層1101室 |
| 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.commchina.net/index |
| 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 data |
| Offering Mechanism | To be extracted |
|---|---|
| Offer Price | HK$ 13.55 / 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) | To be confirmed |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 31.4% |
| Clawback Tiers | To be extracted |
| Reallocation Option | To be confirmed |
| Total Global Offering Size | HK$ 41,246,200 |
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 500 | HK$ 6,775 |
| 2 lots | 1,000 | HK$ 13,550 |
| 3 lots | 1,500 | HK$ 20,325 |
| 4 lots | 2,000 | HK$ 27,100 |
| 5 lots | 2,500 | HK$ 33,875 |
| 6 lots | 3,000 | HK$ 40,650 |
| 7 lots | 3,500 | HK$ 47,425 |
| 8 lots | 4,000 | HK$ 54,200 |
| 9 lots | 4,500 | HK$ 60,975 |
| 10 lots | 5,000 | HK$ 67,750 |
| 12 lots | 6,000 | HK$ 81,300 |
| 14 lots | 7,000 | HK$ 94,850 |
| 16 lots | 8,000 | HK$ 108,400 |
| 18 lots | 9,000 | HK$ 121,950 |
| 20 lots | 10,000 | HK$ 135,500 |
| 30 lots | 15,000 | HK$ 203,250 |
| 40 lots | 20,000 | HK$ 271,000 |
| 50 lots | 25,000 | HK$ 338,750 |
| 60 lots | 30,000 | HK$ 406,500 |
| 70 lots | 35,000 | HK$ 474,250 |
| 80 lots | 40,000 | HK$ 542,000 |
| 90 lots | 45,000 | HK$ 609,750 |
| 100 lots | 50,000 | HK$ 677,500 |
| 120 lots | 60,000 | HK$ 813,000 |
| 140 lots | 70,000 | HK$ 948,500 |
| 160 lots | 80,000 | HK$ 1,084,000 |
| 180 lots | 90,000 | HK$ 1,219,500 |
| 200 lots | 100,000 | HK$ 1,355,000 |
| 300 lots | 150,000 | HK$ 2,032,500 |
| 400 lots | 200,000 | HK$ 2,710,000 |
| 500 lots | 250,000 | HK$ 3,387,500 |
| 600 lots | 300,000 | HK$ 4,065,000 |
| 700 lots | 350,000 | HK$ 4,742,500 |
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,000 lots | 500,000 | HK$ 6,775,000 |
| 1,200 lots | 600,000 | HK$ 8,130,000 |
| 1,600 lots | 800,000 | HK$ 10,840,000 |
| 2,400 lots | 1,200,000 | HK$ 16,260,000 |
| 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 Close | HK$ 13.58 |
|---|---|
| First Day Open | HK$ 14.52 |
| First Day Change | 0.22% |
| First Day Volume | 2227000.0 |
| First Day Turnover | 30358000.0 |
| Use of Proceeds | 1、約45.4%（或177.5百萬港元）將用于我們服務及解決方案的持續改進和開發； 2、約15.6%（或61.1百萬港元）的所得款項將用于擴展銷售渠道； 3、約16.2%（或63.3百萬港元）預期將用于在中國的收購活動； 4、約12.8%（或50.0百萬港元）預期將用于償還我們未償還的貸款； 5、約10.0%（或39.1百萬港元）預期將用作營運資金及其他一般企業用途。 |
|---|
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | 通州国际发展有限公司 | 129,490,575 HKD | — | 31.39% | — | 6 months | 2026-01-09 |
| Chairman | 樸圣根 |
|---|---|
| Company Secretary | 區詠詩 |
| Major Shareholders & Holdings | 樸圣根(20.52%),聯創創新(成都)股權投資基金合伙企業(有限合伙)(5.93%) |
|---|
Market Sentiment
The IPO saw a moderate oversubscription ratio of 12.79 times, signaling decent but not frenzied market interest. However, the reported overall hit rate of 0% and zero accepted applications are highly anomalous, likely indicating a full reallocation of shares to the international tranche or potential data discrepancies, leaving public investors with no allocations. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
Both the A-tail application of 300,000 shares and the B-head application of 350,000 shares resulted in identical expected allocations of just 0.5 lots, suggesting minimal incentive to cross into the B tier under these conditions. The 0% hit rate obscures the usual tier efficiency comparison, but the near-equal allocations across tiers with only a 50,000 share gap highlight a highly skewed distribution. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Mainland investors dominated the applicant pool at 73.3%, with males accounting for 69.8% and an average age of 44.1, reflecting the typical retail IPO base in Hong Kong. The high mainland participation, likely concentrated in Guangdong, signals strong cross-border retail interest despite the zero-hit outcome. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
