IPO Timeline
Broker Deadline
2026-04-20
Morning deadline
HKEX Deadline
2026-04-20
Noon deadline
Broker Results (T-2)
2026-04-21
Some brokers release in afternoon
Grey Market (T-1)
2026-04-22
Afternoon
HKEX Allotment (T-1)
2026-04-22
Evening
Registrar Allotment (T-1)
2026-04-22
Evening
Listing Day (T)
2026-04-23
First day of trading
Cross-Market Price Comparison
| Other Listed Market | Shanghai (SSE) — 华勤技术 |
|---|---|
| Other Market Stock Code | 603296 |
| H-Share Offer Price | HK$ 77.70 |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | 華勤技術 |
|---|---|
| Stock Code | 03296 |
| Company Full Name | 華勤技術 |
| Industry | Robotics |
| Principal Activities | technology-driven platform, specializing in smart products, providing end-to-end integrated solutions for the R&D, design and manufacturing |
| Listing Date | 2026-04-23 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國（上海）自由貿易試驗區 科苑路399號 1幢 |
| Business Address (Hong Kong) | 香港 銅鑼灣 希慎道33號 利園一期 19樓1912室 |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | www.huaqin.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 | Yes (A股) |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 77.70 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 7,770 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-04-15 to 2026-04-20 |
| Global Offering Shares | 58,548,200 shares |
| HK Public Offer Shares (Initial) | 5,854,900 shares (10.0%) |
| Public Offer Lots (Initial) | 58,549lots (29,274lots, 29,275lots) |
| International Placing Shares (Initial) | 52,693,300 shares (90.0%) |
| Offer Ratio | ~5.45% |
| Total Shares Post-IPO | 1,074,280,544 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | To be extracted |
| Cornerstone Share | 49.9% |
| Clawback Tiers | 机制B-无回补 |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 4,549,195,140 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 7,770 |
| 2 lots | 200 | HK$ 15,540 |
| 3 lots | 300 | HK$ 23,310 |
| 4 lots | 400 | HK$ 31,080 |
| 5 lots | 500 | HK$ 38,850 |
| 6 lots | 600 | HK$ 46,620 |
| 7 lots | 700 | HK$ 54,390 |
| 8 lots | 800 | HK$ 62,160 |
| 9 lots | 900 | HK$ 69,930 |
| 10 lots | 1,000 | HK$ 77,700 |
| 15 lots | 1,500 | HK$ 116,550 |
| 20 lots | 2,000 | HK$ 155,400 |
| 25 lots | 2,500 | HK$ 194,250 |
| 30 lots | 3,000 | HK$ 233,100 |
| 35 lots | 3,500 | HK$ 271,950 |
| 40 lots | 4,000 | HK$ 310,800 |
| 45 lots | 4,500 | HK$ 349,650 |
| 50 lots | 5,000 | HK$ 388,500 |
| 60 lots | 6,000 | HK$ 466,200 |
| 70 lots | 7,000 | HK$ 543,900 |
| 80 lots | 8,000 | HK$ 621,600 |
| 90 lots | 9,000 | HK$ 699,300 |
| 100 lots | 10,000 | HK$ 777,000 |
| 200 lots | 20,000 | HK$ 1,554,000 |
| 300 lots | 30,000 | HK$ 2,331,000 |
| 400 lots | 40,000 | HK$ 3,108,000 |
| 500 lots | 50,000 | HK$ 3,885,000 |
| 600 lots | 60,000 | HK$ 4,662,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 700 lots | 70,000 | HK$ 5,439,000 |
| 800 lots | 80,000 | HK$ 6,216,000 |
| 900 lots | 90,000 | HK$ 6,993,000 |
| 1,000 lots | 100,000 | HK$ 7,770,000 |
| 2,000 lots | 200,000 | HK$ 15,540,000 |
| 3,000 lots | 300,000 | HK$ 23,310,000 |
| 4,000 lots | 400,000 | HK$ 31,080,000 |
| 5,000 lots | 500,000 | HK$ 38,850,000 |
| 6,000 lots | 600,000 | HK$ 46,620,000 |
| 7,000 lots | 700,000 | HK$ 54,390,000 |
| 8,000 lots | 800,000 | HK$ 62,160,000 |
| 9,000 lots | 900,000 | HK$ 69,930,000 |
| 10,000 lots | 1,000,000 | HK$ 77,700,000 |
| 15,000 lots | 1,500,000 | HK$ 116,550,000 |
| 20,000 lots | 2,000,000 | HK$ 155,400,000 |
| 25,000 lots | 2,500,000 | HK$ 194,250,000 |
| 29,274 lots | 2,927,400 | HK$ 227,458,980 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 83,471,598,268 |
|---|---|
| Pre-IPO Valuation (Last Round) | To be extracted |
| P/E Ratio | 不适用（公司处于亏损状态） |
| Profit/Loss Status | 盈利约人民币4,131.6百万元 |
| Period-End Cash Balance | To be extracted |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | ~1.9% |
| Total Pre-IPO Investment | To be extracted |
First Day Performance
| First Day Close | HK$ 88.0 |
|---|---|
| First Day Open | HK$ 87.55 |
| First Day Change | 13.26% |
| First Day Volume | 24599400.0 |
| First Day Turnover | 2148880000.0 |
Use of Proceeds
| Use of Proceeds | 1、約40.0%（約1,785.2百萬港元）將用于以產品為核心的研發投入，增強技術實力； 2、約35.0%（約1,562.1百萬港元）將用于擴大及優化制造體系； 3、約15.0%（約669.5百萬港元）將用于戰略投資與垂直整合； 4、約10.0%（約446.3百萬港元）將用于營運資金及一般公司用途。 |
|---|
Underwriting Syndicate
Joint Sponsors (3)
中国国际金融香港证券有限公司 CE AEN894
Merrill Lynch (Asia Pacific) Limited CE AAC198
高盛（亚洲）有限责任公司 CE ACC536
Sponsor cum Overall Coordinator (3)
中国国际金融香港证券有限公司 CE AEN894
Merrill Lynch (Asia Pacific) Limited CE AAC198
高盛（亚洲）有限责任公司 CE ACC536
Overall Coordinators (3)
中国国际金融香港证券有限公司 CE AEN894
Merrill Lynch (Asia Pacific) Limited CE AAC198
高盛（亚洲）有限责任公司 CE ACC536
Joint Global Coordinators (5)
中国国际金融香港证券有限公司 CE AEN894
Merrill Lynch (Asia Pacific) Limited CE AAC198
高盛（亚洲）有限责任公司 CE ACC536
中信里昂证券有限公司 CE AAB893
农银国际融资有限公司 CE AWL249
Joint Bookrunners (7)
中国国际金融香港证券有限公司 CE AEN894
Merrill Lynch (Asia Pacific) Limited CE AAC198
高盛（亚洲）有限责任公司 CE ACC536
中信里昂证券有限公司 CE AAB893
农银国际融资有限公司 CE AWL249
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
Joint Lead Managers (6)
中国国际金融香港证券有限公司 CE AEN894
Merrill Lynch (Asia Pacific) Limited CE AAC198
高盛（亚洲）有限责任公司 CE ACC536
农银国际证券有限公司 CE ACX411
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
Capital Market Intermediaries (8)
中国国际金融香港证券有限公司 CE AEN894
Merrill Lynch (Asia Pacific) Limited CE AAC198
高盛（亚洲）有限责任公司 CE ACC536
中信里昂证券有限公司 CE AAB893
农银国际融资有限公司 CE AWL249
农银国际证券有限公司 CE ACX411
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
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
年利达律师事务所 北京市中伦律师事务所 Pillsbury Winthrop Shaw Pittman LLP |
| Legal Advisor to Sponsors/Underwriters |
瑞生国际律师事务所 北京德恒律师事务所 |
| Auditor and Reporting Accountant | 香港立信德豪会计师事务所有限公司 |
| Industry Advisor | 灼识行业咨询有限公司 |
| Compliance Advisor | 新百利融资有限公司 CE BAU754 |
| Receiving Banks |
中国银行（香港）有限公司 渣打银行（香港）有限公司 中信银行（国际）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 | 百分比百分比(3) 百分比百分比(3) 百分比百分比(3) 百分比百分比(3)JPMAMAPL | 68,000,000 USD | 6,858,800 | 11.71% | 0.64% | 6 months | 2026-10-23 |
| 2 | UBS AM Singapore | 10,000,000 USD | 1,008,600 | 1.72% | 0.09% | 6 months | 2026-10-23 |
| 3 | 上海高毅及CICC FT（就高毅场外掉期而言） | 12,200,000 USD | 1,230,500 | 2.10% | 0.11% | 6 months | 2026-10-23 |
| 4 | Perseverance Asset Management | 7,800,000 USD | 786,700 | 1.34% | 0.07% | 6 months | 2026-10-23 |
| 5 | Cloud Map | 20,000,000 USD | 2,017,300 | 3.45% | 0.19% | 6 months | 2026-10-23 |
| 6 | 泰康人寿 | 20,000,000 USD | 2,017,300 | 3.45% | 0.19% | 6 months | 2026-10-23 |
| 7 | 3W Fund | 15,000,000 USD | 1,512,900 | 2.58% | 0.14% | 6 months | 2026-10-23 |
| 8 | New China Asset Management | 10,000,000 USD | 1,008,600 | 1.72% | 0.09% | 6 months | 2026-10-23 |
| 9 | 光大理财 | 10,000,000 USD | 1,008,600 | 1.72% | 0.09% | 6 months | 2026-10-23 |
| 10 | 常春藤 | 10,000,000 USD | 1,008,600 | 1.72% | 0.09% | 6 months | 2026-10-23 |
| 11 | Aurora SF（就安排而言） | 25,000,000 USD | 2,521,600 | 4.31% | 0.23% | 6 months | 2026-10-23 |
| 12 | 建滔投资 | 25,000,000 USD | 2,521,600 | 4.31% | 0.23% | 6 months | 2026-10-23 |
| 13 | OmniVision HK | 15,000,000 USD | 1,512,900 | 2.58% | 0.14% | 6 months | 2026-10-23 |
| 14 | Green Better | 10,000,000 USD | 1,008,600 | 1.72% | 0.09% | 6 months | 2026-10-23 |
| 15 | 宏兴国际 | 10,000,000 USD | 1,008,600 | 1.72% | 0.09% | 6 months | 2026-10-23 |
| 16 | 香港君正 | 10,000,000 USD | 1,008,600 | 1.72% | 0.09% | 6 months | 2026-10-23 |
| 17 | 艾唯技术有限公司 | 10,000,000 USD | 1,008,600 | 1.72% | 0.09% | 6 months | 2026-10-23 |
| 18 | JinYi Capita（l 为及代表Structured Credit SP Fund行事） | 2,000,000 USD | 201,700 | 0.34% | 0.02% | 6 months | 2026-10-23 |
Directors & Management
| Chairman | Mr. Qiu Wensheng |
|---|---|
| Company Secretary | Ms. Li Yutao No |
執行董事 (6)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 邱文生 | — | 執行董事 |
| 2 | 崔国鹏 | — | 執行董事 |
| 3 | 吴振海 | — | 執行董事 |
| 4 | 陈晓蓉 | — | 執行董事 |
| 5 | 奚平华 | — | 執行董事 |
| 6 | 邓治国 | — | 執行董事 |
獨立非執行董事 (3)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 胡赛雄 | — | 獨立非執行董事 |
| 2 | 黄治国 | — | 獨立非執行董事 |
| 3 | 余方 | — | 獨立非執行董事 |
Major Shareholders
| Major Shareholders & Holdings | SUBSTANTIAL SHAREHOLDERS SUBSTANTIAL SHAREHOLDERS So far as our Directors are aware, immediately following completion of the Global Offering (assuming the Offer SizeAdjustment Option and the Over-allotment Option are not exercised), the following persons will have an intere |
|---|
AI
AI Analysis
Market Sentiment
华勤技术超额认购高达531.33倍，市场申购热度极为狂热，有效申请数达140,150份。受此火爆认购影响，最终中签率极低（官方数据暂未显示），投资者获配难度显著高于市场常态。最终发售价定于77.7港元，未披露价格区间，但超高倍数或暗示定价偏保守。 （以上为AI基于历史数据生成的评论。过往模式不保证未来结果。不构成投资建议。）
Tier Analysis
档位分布出现明显异常：甲尾（申购60,000股）期望中签0.6802手，而乙头（申购70,000股）仅0.2602手，甲尾期望中签高出乙头一倍以上，这在回拨机制下极为罕见。通常乙组中签率应高于甲尾，此现象暗示回拨比例或分配规则可能存在特殊情况，导致大额申购反而资金效率更低。 （以上为AI基于历史数据生成的评论。过往模式不保证未来结果。不构成投资建议。券商手续费结构各异，实际成本可能不同。数据可能存在错误或遗漏，请以港交所官方文件为准。）
Demographics
申购人群以中国内地投资者为主，占比高达69.4%，显示该消费电子股对内地资金吸引力强劲，香港本地参与仅30.2%。性别分布上男性占61.4%，男性偏好更为显著；平均年龄42.4岁，反映参与者以成熟投资者为主，年轻群体参与度偏低。 （以上为AI基于历史数据生成的评论。过往模式不保证未来结果。不构成投资建议。数据可能存在错误或遗漏，请以港交所官方文件为准。）
Offering Structure
Subscription Tiers
IPO Timeline
