高盛(亚洲)有限责任公司 CE ACC536中国国际金融香港证券有限公司 CE AEN894平证证券(香港)有限公司 CE BMC491招银国际融资有限公司 CE AVM940中信建投(国际)融资有限公司 CE BAU112华泰金融控股(香港)有限公司 CE AOK809
Joint Bookrunners (11)
高盛(亚洲)有限责任公司 CE ACC536中国国际金融香港证券有限公司 CE AEN894平证证券(香港)有限公司 CE BMC491招银国际融资有限公司 CE AVM940中信建投(国际)融资有限公司 CE BAU112华泰金融控股(香港)有限公司 CE AOK809中国银河国际证券(香港)有限公司 CE AXM459大华继显(香港)有限公司 CE AAW261GF Securities (Hong Kong) Brokerage Limited CE AOB364建银国际金融有限公司 CE AJO225兴证国际融资有限公司 CE BAK956
Joint Lead Managers (11)
高盛(亚洲)有限责任公司 CE ACC536中国国际金融香港证券有限公司 CE AEN894平证证券(香港)有限公司 CE BMC491招银国际融资有限公司 CE AVM940中信建投(国际)融资有限公司 CE BAU112华泰金融控股(香港)有限公司 CE AOK809中国银河国际证券(香港)有限公司 CE AXM459大华继显(香港)有限公司 CE AAW261GF Securities (Hong Kong) Brokerage Limited CE AOB364建银国际金融有限公司 CE AJO225兴证国际融资有限公司 CE BAK956
Cornerstone Investors
#
Investor Name
Investment Amount
Shares Subscribed
% of Offer Shares
% of Total Shares
Lock-up Period
Est. Unlock Date
1
FCP Domains Co., Ltd.
78,492,000 HKD
—
3.27%
—
6 months
2026-01-04
2
HT Investment Limited
156,984,000 HKD
—
6.54%
—
6 months
2026-01-04
3
NonaVerse (Hong Kong) Limited
78,492,000 HKD
—
3.27%
—
6 months
2026-01-04
4
Torus Fund SP
78,492,000 HKD
—
3.27%
—
6 months
2026-01-04
5
景林资产管理香港有限公司
156,984,000 HKD
—
6.54%
—
6 months
2026-01-04
6
上海景林及华泰资本投资
156,984,000 HKD
—
6.54%
—
6 months
2026-01-04
Directors & Management
Chairman
劉鳴鳴,張清苗,章高路
Company Secretary
梁晨,吳東澄
No director data available.
Major Shareholders
Major Shareholders & Holdings
福建國力民生科技發展有限公司(22%),劉鳴鳴(3.69%)
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 IPO recorded a modest oversubscription of 44.2 times, reflecting subdued market enthusiasm. The overall hit rate of 84.46% is exceptionally high, indicating that most retail applicants received allocations, a pattern typical of less sought-after offerings. The offer price was fixed at HK$60.0 with no evidence of a discount to the indicative range, consistent with stable but unexceptional demand. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
A severe tier inefficiency is evident: 甲尾 applicants committed 70,000 lots but expected just 1 lot, identical to the 乙头 tier at 80,000 lots applied. This flat allocation curve makes the 甲尾 tier exceptionally cost-inefficient, as the far larger capital outlay yields no additional shares. The clawback and reallocation under Mechanism A likely amplified this anomaly by concentrating allocations at smaller tiers. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Demographic data was not disclosed in this filing, with total holders, mainland China participation, and Hong Kong participation all reported as zero. This lack of granularity obscures the investor profile, though the low oversubscription may hint at limited retail interest from mainland China. Without regional or gender metrics, no reliable demographic patterns can be drawn. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Subscription Tiers
IPO Timeline
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