IPO Timeline
Broker Deadline
2025-12-23
Morning deadline
HKEX Deadline
2025-12-23
Noon deadline
Broker Results (T-2)
2025-12-24
Some brokers release in afternoon
Grey Market (T-1)
2025-12-29
Afternoon
HKEX Allotment (T-1)
2025-12-29
Evening
Registrar Allotment (T-1)
2025-12-29
Evening
Listing Day (T)
2025-12-30
First day of trading
Company Overview
| Stock Name | 英矽智能 |
|---|---|
| Stock Code | 03696 |
| Company Full Name | 英矽智能 |
| Industry | Robotics |
| Principal Activities | reputable and global AI-driven drug discovery and development company |
| Listing Date | 2025-12-30 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | Principal Place of Business Unit 310, 3/F, Building 8W, Phase 2, in Hong Kong Hong Kong Science Park Pak Shek Kok New Territories, Hong Kong |
| Business Address (Hong Kong) | 香港新界白石角香港科學園第二期8W座3樓310室 |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | insilico.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 | No |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 24.05 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 500 shares |
| Entry Threshold | HK$ 12,025 |
| Par Value | To be extracted |
| Offer Period | 2025-12-18 to 2025-12-23 |
| Global Offering Shares | 94,690,500 shares |
| HK Public Offer Shares (Initial) | 9,469,500 shares (10.0%) |
| Public Offer Lots (Initial) | 18,939lots (9,469lots, 9,470lots) |
| International Placing Shares (Initial) | 85,221,000 shares (90.0%) |
| Offer Ratio | ~16.99% |
| Total Shares Post-IPO | 557,418,500 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | To be extracted |
| Cornerstone Share | 39.3% |
| Clawback Tiers | 机制B-无回补 |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 2,277,306,525 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 500 | HK$ 12,025 |
| 2 lots | 1,000 | HK$ 24,050 |
| 3 lots | 1,500 | HK$ 36,075 |
| 4 lots | 2,000 | HK$ 48,100 |
| 5 lots | 2,500 | HK$ 60,125 |
| 6 lots | 3,000 | HK$ 72,150 |
| 7 lots | 3,500 | HK$ 84,175 |
| 8 lots | 4,000 | HK$ 96,200 |
| 9 lots | 4,500 | HK$ 108,225 |
| 10 lots | 5,000 | HK$ 120,250 |
| 12 lots | 6,000 | HK$ 144,300 |
| 14 lots | 7,000 | HK$ 168,350 |
| 16 lots | 8,000 | HK$ 192,400 |
| 18 lots | 9,000 | HK$ 216,450 |
| 20 lots | 10,000 | HK$ 240,500 |
| 30 lots | 15,000 | HK$ 360,750 |
| 40 lots | 20,000 | HK$ 481,000 |
| 50 lots | 25,000 | HK$ 601,250 |
| 60 lots | 30,000 | HK$ 721,500 |
| 70 lots | 35,000 | HK$ 841,750 |
| 80 lots | 40,000 | HK$ 962,000 |
| 90 lots | 45,000 | HK$ 1,082,250 |
| 100 lots | 50,000 | HK$ 1,202,500 |
| 120 lots | 60,000 | HK$ 1,443,000 |
| 140 lots | 70,000 | HK$ 1,683,500 |
| 160 lots | 80,000 | HK$ 1,924,000 |
| 180 lots | 90,000 | HK$ 2,164,500 |
| 200 lots | 100,000 | HK$ 2,405,000 |
| 400 lots | 200,000 | HK$ 4,810,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 600 lots | 300,000 | HK$ 7,215,000 |
| 800 lots | 400,000 | HK$ 9,620,000 |
| 1,000 lots | 500,000 | HK$ 12,025,000 |
| 1,200 lots | 600,000 | HK$ 14,430,000 |
| 1,400 lots | 700,000 | HK$ 16,835,000 |
| 1,600 lots | 800,000 | HK$ 19,240,000 |
| 1,800 lots | 900,000 | HK$ 21,645,000 |
| 2,000 lots | 1,000,000 | HK$ 24,050,000 |
| 4,000 lots | 2,000,000 | HK$ 48,100,000 |
| 6,000 lots | 3,000,000 | HK$ 72,150,000 |
| 9,469 lots | 4,734,500 | HK$ 113,864,725 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 13,405,914,925 |
|---|---|
| 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 | 虧損人民幣17.1百萬元（2024年） |
| Period-End Cash Balance | 人民币212,000,000元 |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | ~11.0% |
| Total Pre-IPO Investment | To be extracted |
First Day Performance
| First Day Close | HK$ 29.98 |
|---|---|
| First Day Open | HK$ 35.0 |
| First Day Change | 24.66% |
| First Day Volume | 37735300.0 |
| First Day Turnover | 1265820000.0 |
Use of Proceeds
| Use of Proceeds | 1、約972.4百萬港元（約48.0%）用于為公司關鍵臨床階段管線候選藥物的進一步臨床研發提供資金； 2、約303.9百萬港元（約15.0%）用于開發新的生成式AI模型及相關的驗證研究工作； 3、約243.1百萬港元（約12.0%）用于進一步開發及擴展公司的自動化實驗室； 4、約405.2百萬港元（約20.0%）將用于為早期藥物發現及開發的研發提供資金； 5、約101.3百萬港元（約5.0%）將用作營運資金及其他一般公司用途。 |
|---|
Underwriting Syndicate
Joint Sponsors (3)
摩根士丹利亚洲有限公司 CE AAD291
中国国际金融香港证券有限公司 CE AEN894
广发融资（香港）有限公司 CE AOB163
Sponsor cum Overall Coordinator (3)
摩根士丹利亚洲有限公司 CE AAD291
中国国际金融香港证券有限公司 CE AEN894
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
中国国际金融香港证券有限公司 CE AEN894
广发证券（香港）经纪有限公司
法国巴黎证券（亚洲）有限公司 CE AAF669
Joint Global Coordinators (5)
摩根士丹利亚洲有限公司 CE AAD291
中国国际金融香港证券有限公司 CE AEN894
广发证券（香港）经纪有限公司
法国巴黎证券（亚洲）有限公司 CE AAF669
国金证券（香港）有限公司 CE AAI195
Joint Bookrunners (6)
摩根士丹利亚洲有限公司 CE AAD291
中国国际金融香港证券有限公司 CE AEN894
广发证券（香港）经纪有限公司
法国巴黎证券（亚洲）有限公司 CE AAF669
国金证券（香港）有限公司 CE AAI195
中银国际亚洲有限公司 CE AET863
Joint Lead Managers (6)
摩根士丹利亚洲有限公司 CE AAD291
中国国际金融香港证券有限公司 CE AEN894
广发证券（香港）经纪有限公司
法国巴黎证券（亚洲）有限公司 CE AAF669
国金证券（香港）有限公司 CE AAI195
中银国际亚洲有限公司 CE AET863
Capital Market Intermediaries (6)
摩根士丹利亚洲有限公司 CE AAD291
中国国际金融香港证券有限公司 CE AEN894
广发证券（香港）经纪有限公司
法国巴黎证券（亚洲）有限公司 CE AAF669
国金证券（香港）有限公司 CE AAI195
中银国际亚洲有限公司 CE AET863
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
Davis Polk & Wardwell 竞天公诚律师事务所 汇嘉律师事务所（香港） |
| Legal Advisor to Sponsors/Underwriters |
科律香港律师事务所 通商律师事务所 |
| Auditor and Reporting Accountant | 德勤•关黄陈方会计师行 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| Compliance Advisor | 国泰君安融资有限公司 CE AGS488 |
| Receiving Banks | 招商永隆银行有限公司 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | Lilly | 5,000,000 USD | 1,617,500 | 1.71% | 0.29% | 6 months | 2026-06-30 |
| 2 | 腾讯 | 5,000,000 USD | 1,617,500 | 1.71% | 0.29% | 6 months | 2026-06-30 |
| 3 | Oaktree | 15,000,000 USD | 4,853,000 | 5.13% | 0.87% | 6 months | 2026-06-30 |
| 4 | Schroders | 15,000,000 USD | 4,853,000 | 5.13% | 0.87% | 6 months | 2026-06-30 |
| 5 | 淡马锡 | 15,000,000 USD | 4,853,000 | 5.13% | 0.87% | 6 months | 2026-06-30 |
| 6 | 瑞银 | 15,000,000 USD | 4,853,000 | 5.13% | 0.87% | 6 months | 2026-06-30 |
| 7 | 华夏基金 | 5,000,000 USD | 1,617,500 | 1.71% | 0.29% | 6 months | 2026-06-30 |
| 8 | 中国太保 | 5,000,000 USD | 1,617,500 | 1.71% | 0.29% | 6 months | 2026-06-30 |
| 9 | 易方达基金管理 | 4,000,000 USD | 1,294,000 | 1.37% | 0.23% | 6 months | 2026-06-30 |
| 10 | 富国－富国香港 | 2,340,000 USD | 757,000 | 0.80% | 0.14% | 6 months | 2026-06-30 |
| 11 | －富国基金 | 2,660,000 USD | 860,500 | 0.91% | 0.15% | 6 months | 2026-06-30 |
| 12 | 嘉实 | 5,000,000 USD | 1,617,500 | 1.71% | 0.29% | 6 months | 2026-06-30 |
| 13 | 泰康人寿 | 5,000,000 USD | 1,617,500 | 1.71% | 0.29% | 6 months | 2026-06-30 |
| 14 | RTW | 4,000,000 USD | 1,294,000 | 1.37% | 0.23% | 6 months | 2026-06-30 |
| 15 | Exome | 2,000,000 USD | 647,000 | 0.68% | 0.12% | 6 months | 2026-06-30 |
| 16 | Infini | 10,000,000 USD | 3,235,000 | 3.42% | 0.58% | 6 months | 2026-06-30 |
Directors & Management
| Chairman | Mr. Alex Zhavoronkov |
|---|---|
| Company Secretary | 梁君慧 |
執行董事 (2)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | Zhavoronkov） | — | 執行董事 |
| 2 | 任峰 | — | 執行董事 |
非執行董事 (3)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 梁传昕 | — | 非執行董事 |
| 2 | 陈侃 | — | 非執行董事 |
| 3 | 施珑 | — | 非執行董事 |
獨立非執行董事 (3)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | Denitsa Milanova | — | 獨立非執行董事 |
| 2 | 王劲松 | — | 獨立非執行董事 |
| 3 | Roman Kyrychynskyi | — | 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 Share Split and the Global Offering, assuming the Over-allotment Option is not exercised and without taking into account any Shares to be issued unde |
|---|
AI
AI Analysis
Market Sentiment
英矽智能 IPO 获得 1427.37 倍超额认购，显示市场对生物医药板块的强烈追捧。由于高倍超额认购和回拨机制，整体中签率极低，散户参与热情高涨。最终定价 24.05 港元，若处于招股价上限则反映定价进取。 (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
甲尾（200,000 手）预期中签 0.304 手，乙头（300,000 手）预期 0.3301 手，乙头仅比甲尾多约 8.6% 的分配，但投入资金增加 50%，显示甲尾性价比更高。这反映出乙组申购可能不如甲组拥挤，或货源极度集中导致散户分配极低。 (This is AI-generated commentary based on historical data. Broker fee structures vary and actual costs may differ. Not financial advice.)
Demographics
内地投资者占比 63.7%，香港 35.2%，显示内资主导申购，可能与英矽智能的 AI 制药概念吸引有关。男性占比 61.6%，平均年龄 43.1 岁，反映成熟男性参与为主，或与行业认知门槛相关，且广东地区可能集中。 (This is AI-generated commentary based on historical data. Data may contain errors or omissions from source documents — verify against official HKEX filings. Not financial advice.)
Offering Structure
Subscription Tiers
IPO Timeline
