精锋医疗－Ｂ 02675 Prospectus Information

IPO Timeline

Broker Deadline

2026-01-05

Morning deadline

HKEX Deadline

2026-01-05

Noon deadline

Broker Results (T-2)

2026-01-06

Some brokers release in afternoon

Grey Market (T-1)

2026-01-07

Afternoon

HKEX Allotment (T-1)

2026-01-07

Evening

Registrar Allotment (T-1)

2026-01-07

Evening

Listing Day (T)

2026-01-08

First day of trading

Company Overview

Stock Name	精锋医疗－Ｂ
Stock Code	02675
Company Full Name	精锋医疗－Ｂ
Industry	Robotics
Principal Activities	advanced surgical robot company in the medical device industry, dedicated to designing, developing and manufacturing surgical robots
Listing Date	2026-01-08
Listing Rules Era	New Rules (after Aug 2025)
Listing Rules Chapter	Chapter 18A
Weighted Voting Rights (WVR)	No
Registered Address (Mainland China)	Headquarters and Principal Place of Room 1901, Building 2B Business in the PRC Smart Park Phase II Baolong Street Longgang District Shenzhen, PRC
Business Address (Hong Kong)	香港銅鑼灣希慎道33號利園一期 19樓1918室
Place of Incorporation	To be extracted
Listing Method	To be extracted
Listing Board	Main Board
Website	www.edgemed.cn
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	Large IPO Exempt
Offer Price	HK$ 43.24 / shares
Offer Price Range	Final offer price only, no range
Lot Size	100 shares
Entry Threshold	HK$ 4,324
Par Value	RMB 1.0 / shares
Offer Period	2025-12-30 to 2026-01-05
Global Offering Shares	27,722,200 shares
HK Public Offer Shares (Initial)	2,772,300 shares (10.0%)
Public Offer Lots (Initial)	27,723lots (13,861lots, 13,862lots)
International Placing Shares (Initial)	24,949,900 shares (90.0%)
Offer Ratio	~7.15%
Total Shares Post-IPO	387,722,200 shares
Greenshoe (Over-allotment Option)	Yes
Stabilizing Manager (Greenshoe)	To be extracted
Cornerstone Share	16.2%
Clawback Tiers	机制B-无回补
Reallocation Option	No
Total Global Offering Size	HK$ 1,198,707,928

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$ 4,324
2 lots	200	HK$ 8,648
3 lots	300	HK$ 12,972
4 lots	400	HK$ 17,296
5 lots	500	HK$ 21,620
6 lots	600	HK$ 25,944
7 lots	700	HK$ 30,268
8 lots	800	HK$ 34,592
9 lots	900	HK$ 38,916
10 lots	1,000	HK$ 43,240
15 lots	1,500	HK$ 64,860
20 lots	2,000	HK$ 86,480
25 lots	2,500	HK$ 108,100
30 lots	3,000	HK$ 129,720
35 lots	3,500	HK$ 151,340
40 lots	4,000	HK$ 172,960
45 lots	4,500	HK$ 194,580
50 lots	5,000	HK$ 216,200
60 lots	6,000	HK$ 259,440
70 lots	7,000	HK$ 302,680
80 lots	8,000	HK$ 345,920
90 lots	9,000	HK$ 389,160
100 lots	10,000	HK$ 432,400
200 lots	20,000	HK$ 864,800
300 lots	30,000	HK$ 1,297,200
400 lots	40,000	HK$ 1,729,600
500 lots	50,000	HK$ 2,162,000
600 lots	60,000	HK$ 2,594,400
700 lots	70,000	HK$ 3,026,800
800 lots	80,000	HK$ 3,459,200
900 lots	90,000	HK$ 3,891,600
1,000 lots	100,000	HK$ 4,324,000

Pool B

Lots Subscribed	Shares Subscribed	Subscription Amount (HKD)
2,000 lots	200,000	HK$ 8,648,000
3,000 lots	300,000	HK$ 12,972,000
4,000 lots	400,000	HK$ 17,296,000
5,000 lots	500,000	HK$ 21,620,000
6,000 lots	600,000	HK$ 25,944,000
7,000 lots	700,000	HK$ 30,268,000
8,000 lots	800,000	HK$ 34,592,000
9,000 lots	900,000	HK$ 38,916,000
10,000 lots	1,000,000	HK$ 43,240,000
13,861 lots	1,386,100	HK$ 59,934,964

Valuation & Financials

Market Cap (at Offer Price)	HK$ 16,765,107,928
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	Net loss RMB212.9 million
Period-End Cash Balance	人民币35,500,000元
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$ 56.6
First Day Open	HK$ 59.0
First Day Change	30.90%
First Day Volume	12674000.0
First Day Turnover	709649000.0

Use of Proceeds

Use of Proceeds	1、約23.0%（即256.8百萬港元）為精鋒多孔腔鏡手術機器人進行中和規劃中的研發提供資金； 2、約19.0%（即212.2百萬港元）為精鋒單孔腔鏡手術機器人進行中和規劃中的研發提供資金； 3、約20.0%（即223.3百萬港元）為核心產品的商業化提供資金； 4、約10.0%（即111.7百萬港元）將用于擴大產能； 5、約8.0%（即89.3百萬港元）將分配至其他產品和在研產品； 6、約10.0%（即111.7百萬港元）將用于手術機器人行業及相關領域的潛在策略收購、投資或合作； 7、約10.0%（即111.7百萬港元）將用于營運資金及一般企業用途。

1、約23.0%（即256.8百萬港元）為精鋒多孔腔鏡手術機器人進行中和規劃中的研發提供資金； 2、約19.0%（即212.2百萬港元）為精鋒單孔腔鏡手術機器人進行中和規劃中的研發提供資金； 3、約20.0%（即223.3百萬港元）為核心產品的商業化提供資金； 4、約10.0%（即111.7百萬港元）將用于擴大產能； 5、約8.0%（即89.3百萬港元）將分配至其他產品和在研產品； 6、約10.0%（即111.7百萬港元）將用于手術機器人行業及相關領域的潛在策略收購、投資或合作； 7、約10.0%（即111.7百萬港元）將用于營運資金及一般企業用途。

Underwriting Syndicate

Joint Sponsors (2)

摩根士丹利亚洲有限公司 CE AAD291 广发融资（香港）有限公司 CE AOB163

Sponsor cum Overall Coordinator (2)

摩根士丹利亚洲有限公司 CE AAD291 广发证券（香港）经纪有限公司

Overall Coordinators (4)

摩根士丹利亚洲有限公司 CE AAD291 广发证券（香港）经纪有限公司中国国际金融香港证券有限公司 CE AEN894 中信里昂证券有限公司 CE AAB893

Joint Global Coordinators (5)

摩根士丹利亚洲有限公司 CE AAD291 广发证券（香港）经纪有限公司中国国际金融香港证券有限公司 CE AEN894 中信里昂证券有限公司 CE AAB893 民银证券有限公司 CE APU820

Joint Bookrunners (5)

Joint Lead Managers (5)

Capital Market Intermediaries (5)

Service Providers

Role	Institution
Legal Advisor to Company	佳利（香港）律师事务所竞天公诚律师事务所
Legal Advisor to Sponsors/Underwriters	高伟绅律师事务所北京市通商律师事务所
Auditor and Reporting Accountant	毕马威会计师事务所
Industry Advisor	弗若斯特沙利文（北京）咨询有限公司上海分公司
Compliance Advisor	新百利融资有限公司 CE BAU754
Receiving Banks	招商永隆银行有限公司创兴银行有限公司

Cornerstone Investors

#	Investor Name	Investment Amount	Shares Subscribed	% of Offer Shares	% of Total Shares	Lock-up Period	Est. Unlock Date
1	ADIA	15,000,000 USD	2,699,000	9.70%	0.70%	6 months	2026-07-08
2	UBS AM Singapore	10,000,000 USD	1,799,300	6.50%	0.50%	6 months	2026-07-08

Directors & Management

Chairman	Dr. Wang Jianchen
Company Secretary	Ms. Wu Mengyuan

執行董事 (3)

#	Name	English Name	Type
1	王建辰	—	執行董事
2	高元倩	—	執行董事
3	吴梦媛	—	執行董事

非執行董事 (3)

#	Name	English Name	Type
1	盛利	—	非執行董事
2	陈刚	—	非執行董事
3	邱翔	—	非執行董事

獨立非執行董事 (6)

#	Name	English Name	Type
1	杨帆	—	獨立非執行董事
2	张国光	—	獨立非執行董事
3	刘英杰	—	獨立非執行董事
4	叶国强	—	獨立非執行董事
5	张相平	—	獨立非執行董事
6	林民才	—	獨立非執行董事

Major Shareholders

Major Shareholders & Holdings	CONTROLLING SHAREHOLDERS (d) our Controlling Shareholders will provide all information necessary as required by the independent non-executive Directors for the Annual Review; (e) our Company will disclose decisions (with basis) on matters reviewed by the independent non-exe

AI AI Analysis

Market Sentiment

The IPO drew massive enthusiasm with an oversubscription of 1,091.94 times, signaling extremely strong market appetite. The overall hit rate of only 10.18% underscores fierce competition for allocations, typical for a hot biotech offering under Chapter 18A. The final offer price was set at HKD 43.24, but without the initial price range, pricing dynamics are unclear. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Tier Analysis

Detailed tier subscription data is not available in the source, so specific anomalies like a narrow gap between 甲尾 and 乙头 or unusual winner ratios cannot be assessed. With such a high oversubscription, the distribution of lots is likely concentrated among the largest applications, potentially disadvantaging smaller subscribers. Broker fee efficiency comparisons are not feasible without tier-level allocation information. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Demographics

Mainland Chinese investors comprised 61.9% of the total holders, reflecting strong cross-border interest in Hong Kong-listed biotech firms. The gender split was 59.8% male and 40.2% female, with an average investor age of 44.2 years, indicating a mature demographic. The high mainland participation aligns with the growing appetite for innovative healthcare assets from China-based investors. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Offering Structure

Subscription Tiers

IPO Timeline

精锋医疗－Ｂ 02675Prospectus Information

Market Sentiment

Tier Analysis

Demographics