明略科技－Ｗ 02718Prospectus Information

Prospectus Information
返回 Stock Info Prospectus Allotment Results Allotment Profile Expected Lots
IPO Timeline
Broker Deadline
2025-10-28
Morning deadline
HKEX Deadline
2025-10-28
Noon deadline
Broker Results (T-2)
2025-10-30
Some brokers release in afternoon
Grey Market (T-1)
2025-10-31
Afternoon
HKEX Allotment (T-1)
2025-10-31
Evening
Registrar Allotment (T-1)
2025-10-31
Evening
Listing Day (T)
2025-11-03
First day of trading
Company Overview
Stock Name明略科技－Ｗ
Stock Code02718
Company Full Name明略科技－Ｗ
IndustrySemiconductors
Principal Activities我們是中國領先的數據智能應用軟件公司，提供營銷智能和營運智能產品及解決方案，涵蓋線上及線下場景，利用大模型、行業特定知識及多模態數據轉變企業的營銷及營運戰略設計和決策程序。
Listing Date2025-11-03
Listing Rules EraNew Rules (after Aug 2025)
Listing Rules Chapter8A不同投票权
Weighted Voting Rights (WVR)Yes
Registered Address (Mainland China)中國四川省資陽市雁江區外環路西三段222號1棟8樓807室
Business Address (Hong Kong)香港銅鑼灣希慎道33號利園一期19樓1922室
Place of IncorporationTo be extracted
Listing MethodTo be extracted
Listing BoardMain Board
Websitemininglamp.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 ListingNo
Offering Information
Offering Mechanism Mechanism B
Offer PriceHK$ 141.00 / shares
Offer Price RangeFinal offer price only, no range
Lot Size40 shares
Entry ThresholdHK$ 5,640
Par ValueTo be extracted
Offer Period2025-10-23 to 2025-10-28
Global Offering Shares7,219,000 shares
HK Public Offer Shares (Initial)721,920 shares (10.0%)
Public Offer Lots (Initial)18,048lots (9,024lots, 9,024lots)
International Placing Shares (Initial)6,497,080 shares (90.0%)
Offer Ratio~5.0%
Total Shares Post-IPO144,378,361 shares
Greenshoe (Over-allotment Option)Yes
Stabilizing Manager (Greenshoe)To be extracted
Cornerstone Share44.9%
Clawback Tiers机制B-无回补
Reallocation OptionNo
Total Global Offering SizeHK$ 1,017,879,000
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 SubscribedShares SubscribedSubscription Amount (HKD)
1 lots 40 HK$ 5,640
2 lots 80 HK$ 11,280
3 lots 120 HK$ 16,920
4 lots 160 HK$ 22,560
5 lots 200 HK$ 28,200
6 lots 240 HK$ 33,840
7 lots 280 HK$ 39,480
8 lots 320 HK$ 45,120
9 lots 360 HK$ 50,760
10 lots 400 HK$ 56,400
15 lots 600 HK$ 84,600
20 lots 800 HK$ 112,800
25 lots 1,000 HK$ 141,000
30 lots 1,200 HK$ 169,200
35 lots 1,400 HK$ 197,400
40 lots 1,600 HK$ 225,600
45 lots 1,800 HK$ 253,800
50 lots 2,000 HK$ 282,000
75 lots 3,000 HK$ 423,000
100 lots 4,000 HK$ 564,000
125 lots 5,000 HK$ 705,000
150 lots 6,000 HK$ 846,000
175 lots 7,000 HK$ 987,000
200 lots 8,000 HK$ 1,128,000
225 lots 9,000 HK$ 1,269,000
250 lots 10,000 HK$ 1,410,000
500 lots 20,000 HK$ 2,820,000
750 lots 30,000 HK$ 4,230,000
Pool B
Lots SubscribedShares SubscribedSubscription Amount (HKD)
1,000 lots 40,000 HK$ 5,640,000
1,250 lots 50,000 HK$ 7,050,000
1,500 lots 60,000 HK$ 8,460,000
1,750 lots 70,000 HK$ 9,870,000
2,000 lots 80,000 HK$ 11,280,000
2,250 lots 90,000 HK$ 12,690,000
2,500 lots 100,000 HK$ 14,100,000
3,750 lots 150,000 HK$ 21,150,000
5,000 lots 200,000 HK$ 28,200,000
6,250 lots 250,000 HK$ 35,250,000
7,500 lots 300,000 HK$ 42,300,000
9,024 lots 360,960 HK$ 50,895,360
Valuation & Financials
Market Cap (at Offer Price)HK$ 20,357,348,901
Pre-IPO Valuation (Last Round)To be extracted
P/E Ratio不適用（公司處於虧損狀態）
Profit/Loss StatusNet loss RMB98.7 million
Period-End Cash Balance人民币180,900,000元
Listing Expenses~HK$ 115,800,000
Listing Expenses / Funds Raised~11.38%
Total Pre-IPO InvestmentTo be extracted
First Day Performance
First Day CloseHK$ 2.77
First Day OpenHK$ 2.65
First Day Change-9.48%
First Day Volume120742000.0
First Day Turnover318820000.0
Use of Proceeds
Use of Proceeds1、約35%（約315.8百萬港元）預期將于未來三年用于提升技術研發能力； 2、約40%（約360.9百萬港元）預期將用于產品開發，以豐富產品組合； 3、約15%（約135.3百萬港元）預期將用于營銷、品牌推廣及銷售團隊擴張，旨在進一步擴大客戶群并深化在數據智能行業的立足點； 4、約10%（約90.2百萬港元）預期將用于營運資金及一般企業用途。
Underwriting Syndicate
Sole Sponsor (1)
中国国际金融香港证券有限公司 CE AEN894(sole)
Overall Coordinators (2)
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 (2)
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 Bookrunners (9)
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 华兴证券（香港）有限公司 CE AZX839 富途证券国际（香港）有限公司 CE AZT137 老虎证券（香港）环球有限公司 CE BMU940 富泽证券（国际）有限公司 CE AEU761 利弗莫尔证券有限公司 CE BJN764 木兰投资管理有限公司 CE BTL126 巨诚证券有限公司 CE BPX754
Joint Lead Managers (9)
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 华兴证券（香港）有限公司 CE AZX839 富途证券国际（香港）有限公司 CE AZT137 老虎证券（香港）环球有限公司 CE BMU940 富泽证券（国际）有限公司 CE AEU761 利弗莫尔证券有限公司 CE BJN764 木兰投资管理有限公司 CE BTL126 巨诚证券有限公司 CE BPX754
Capital Market Intermediaries (9)
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 华兴证券（香港）有限公司 CE AZX839 富途证券国际（香港）有限公司 CE AZT137 老虎证券（香港）环球有限公司 CE BMU940 富泽证券（国际）有限公司 CE AEU761 利弗莫尔证券有限公司 CE BJN764 木兰投资管理有限公司 CE BTL126 巨诚证券有限公司 CE BPX754
Service Providers
RoleInstitution
Legal Advisor to Company 世达国际律师事务所
北京市中伦律师事务所
迈普达律师事务所（香港）有限法律责任合伙
Legal Advisor to Sponsors/Underwriters 高伟绅律师行
竞天公诚律师事务所
Auditor and Reporting Accountant 安永会计师事务所
Industry Advisor 弗若斯特沙利文（北京）咨询有限公司上海分公司
Receiving Banks 中信银行（国际）有限公司
Cornerstone Investors
#Investor NameInvestment AmountShares Subscribed% of Offer Shares% of Total SharesLock-up PeriodEst. Unlock Date
1 发售股份股本总额发售股份股本总额百分比百分比百分比百分比Huang River Investment Limited 7,000,000 USD 386,160 5.30% 0.30% 6 months 2026-05-03
2 郭敏芳女士 20,000,000 USD 1,103,320 15.30% 0.80% 6 months 2026-05-03
3 Treasure-stone Investment Group Limited 10,000,000 USD 551,640 7.60% 0.40% 6 months 2026-05-03
4 包莉娜女士 10,000,000 USD 551,640 7.60% 0.40% 6 months 2026-05-03
5 Hundreds Capital 5,000,000 USD 275,800 3.80% 0.20% 6 months 2026-05-03
6 GFH Financial Group B.S.C 5,000,000 USD 275,800 3.80% 0.20% 6 months 2026-05-03
7 QuantumPharm Limited 2,000,000 USD 110,320 1.50% 0.10% 6 months 2026-05-03
Directors & Management
ChairmanMr. Minghui Wu
Company Secretary樊信
No director data available.
Major Shareholders
Major Shareholders & HoldingsSUBSTANTIAL SHAREHOLDERS SUBSTANTIAL SHAREHOLDERS So far as our Directors are aware, immediately following the completion of the Global Offering and subject to theAssumptions, the following shareholders will have interests and/or short positions (as applicable) in the Share
AI AI 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 drew overwhelming enthusiasm, with a record 4452.86x oversubscription ratio signaling exceptional retail demand. The hit rate of just 6.36% reflects intense competition for allocations, and the final offer price of HKD 141 suggests firm pricing at the top of investor appetite. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Tier Analysis

A notable inefficiency appears at the A/B boundary: A-tail applicants expected only 0.1657 lots on average, while B-head subscribers received 0.2001 lots, despite typically lower threshold requirements for A pool. This anomaly implies that applicants at the top of Pool A could have achieved superior allocation by marginally increasing their subscription to reach Pool B, reducing broker fee drag. (This is AI-generated commentary based on historical data. Broker fee structures vary; actual costs may differ. Past patterns do not guarantee future outcomes. Not financial advice.)

Demographics

Mainland Chinese investors dominated the applicant base at 62%, indicating strong cross-border brand appeal or strategic positioning for the enterprise software firm. The gender split leaned male (61.9%) and the average age of 43.5 suggests a mature, tech-savvy investor cohort typical of professional service/software listings. (This analysis is for informational purposes only. Data may contain errors; verify against official HKEX filings. Not financial advice.)

AI-generated content. For informational purposes only. Not financial advice. Verify against official sources.
Offering Structure
Subscription Tiers
IPO Timeline
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