IPO Timeline
Broker Results (T-2)
2025-05-16
Some brokers release in afternoon
Grey Market (T-1)
2025-05-19
Afternoon
HKEX Allotment (T-1)
2025-05-19
Evening
Registrar Allotment (T-1)
2025-05-19
Evening
Listing Day (T)
2025-05-20
First day of trading
Cross-Market Price Comparison
| Other Listed Market | Shenzhen (SZSE) — 宁德时代 |
|---|---|
| Other Market Stock Code | 300750 |
| H-Share Offer Price | To be extracted |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | 宁德时代 |
|---|---|
| Stock Code | 03750 |
| Company Full Name | 宁德时代 |
| Industry | 工業制造 |
| Principal Activities | 公司是一家全球領先的新能源創新科技公司，要從事動力電池、儲能電池的研發、生產、銷售，以推動移動式化石能源替代、固定式化石能源替代，并通過電動化和智能化實現市場應用的集成創新。 |
| Listing Date | 2025-05-20 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國福建省寧德市蕉城區漳灣鎮新港路2號 |
| Business Address (Hong Kong) | To be extracted |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | https://www.catl.com/ |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | (852)2862 8628 |
| A-Share/US Dual Listing | No data |
Offering Information
| Offering Mechanism | To be extracted |
|---|---|
| Offer Price | HK$ 263.00 / shares |
| Offer Price Range | To be extracted |
| Lot Size | To be extracted |
| Entry Threshold | To be extracted |
| Par Value | To be extracted |
| Offer Period | To be extracted |
| Global Offering Shares | To be extracted |
| HK Public Offer Shares (Initial) | To be extracted |
| Public Offer Lots (Initial) | To be extracted |
| International Placing Shares (Initial) | To be extracted |
| Offer Ratio | To be extracted |
| Total Shares Post-IPO | To be extracted |
| Greenshoe (Over-allotment Option) | To be confirmed |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 57.1% |
| Clawback Tiers | To be extracted |
| Reallocation Option | To be confirmed |
| Total Global Offering Size | HK$ 2,674,289,200 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 26,300 |
| 2 lots | 200 | HK$ 52,600 |
| 3 lots | 300 | HK$ 78,900 |
| 4 lots | 400 | HK$ 105,200 |
| 5 lots | 500 | HK$ 131,500 |
| 6 lots | 600 | HK$ 157,800 |
| 7 lots | 700 | HK$ 184,100 |
| 8 lots | 800 | HK$ 210,400 |
| 9 lots | 900 | HK$ 236,700 |
| 10 lots | 1,000 | HK$ 263,000 |
| 20 lots | 2,000 | HK$ 526,000 |
| 30 lots | 3,000 | HK$ 789,000 |
| 40 lots | 4,000 | HK$ 1,052,000 |
| 50 lots | 5,000 | HK$ 1,315,000 |
| 60 lots | 6,000 | HK$ 1,578,000 |
| 70 lots | 7,000 | HK$ 1,841,000 |
| 80 lots | 8,000 | HK$ 2,104,000 |
| 90 lots | 9,000 | HK$ 2,367,000 |
| 100 lots | 10,000 | HK$ 2,630,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 200 lots | 20,000 | HK$ 5,260,000 |
| 300 lots | 30,000 | HK$ 7,890,000 |
| 400 lots | 40,000 | HK$ 10,520,000 |
| 500 lots | 50,000 | HK$ 13,150,000 |
| 600 lots | 60,000 | HK$ 15,780,000 |
| 700 lots | 70,000 | HK$ 18,410,000 |
| 800 lots | 80,000 | HK$ 21,040,000 |
| 900 lots | 90,000 | HK$ 23,670,000 |
| 1,000 lots | 100,000 | HK$ 26,300,000 |
| 2,000 lots | 200,000 | HK$ 52,600,000 |
| 3,000 lots | 300,000 | HK$ 78,900,000 |
| 4,000 lots | 400,000 | HK$ 105,200,000 |
| 5,000 lots | 500,000 | HK$ 131,500,000 |
| 6,000 lots | 600,000 | HK$ 157,800,000 |
| 7,000 lots | 700,000 | HK$ 184,100,000 |
| 8,000 lots | 800,000 | HK$ 210,400,000 |
| 9,000 lots | 900,000 | HK$ 236,700,000 |
| 10,000 lots | 1,000,000 | HK$ 263,000,000 |
| 15,000 lots | 1,500,000 | HK$ 394,500,000 |
| 20,000 lots | 2,000,000 | HK$ 526,000,000 |
| 25,000 lots | 2,500,000 | HK$ 657,500,000 |
| 30,000 lots | 3,000,000 | HK$ 789,000,000 |
| 40,000 lots | 4,000,000 | HK$ 1,052,000,000 |
| 44,210 lots | 4,421,000 | HK$ 1,162,723,000 |
Valuation & Financials
| Market Cap (at Offer Price) | To be extracted |
|---|---|
| Pre-IPO Valuation (Last Round) | To be extracted |
| P/E Ratio | To be extracted |
| Profit/Loss Status | To be extracted |
| Period-End Cash Balance | To be extracted |
| 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$ 306.2 |
|---|---|
| First Day Open | HK$ 296.0 |
| First Day Change | 16.43% |
| First Day Volume | 27692300.0 |
| First Day Turnover | 8284440000.0 |
Use of Proceeds
| Use of Proceeds | 1、約90%或27,646.1百萬港元將用于推進匈牙利項目第一期及第二期建設； 2、約10%或3,071.8百萬港元將用于營運資金及其他一般企業用途。 |
|---|
Underwriting Syndicate
Joint Sponsors (4)
中国国际金融香港证券有限公司 CE AEN894
中信建投（国际）融资有限公司 CE BAU112
J.P. Morgan Securities (Far East) Limited CE AAB026
Merrill Lynch (Asia Pacific) Limited CE AAC198
Overall Coordinators (9)
中国国际金融香港证券有限公司 CE AEN894
中信建投（国际）融资有限公司 CE BAU112
J.P. Morgan Securities (Asia Pacific) Limited CE AAJ321
Merrill Lynch (Asia Pacific) Limited CE AAC198
高盛（亚洲）有限责任公司 CE ACC536
摩根士丹利亚洲有限公司 CE AAD291
UBS Securities Hong Kong Limited CE BIN466
法国巴黎证券（亚洲）有限公司 CE AAF669
国泰君安证券（香港）有限公司 CE ABY236
Joint Bookrunners (9)
中国国际金融香港证券有限公司 CE AEN894
中信建投（国际）融资有限公司 CE BAU112
J.P. Morgan Securities (Asia Pacific) Limited CE AAJ321
Merrill Lynch (Asia Pacific) Limited CE AAC198
高盛（亚洲）有限责任公司 CE ACC536
摩根士丹利亚洲有限公司 CE AAD291
UBS Securities Hong Kong Limited CE BIN466
法国巴黎证券（亚洲）有限公司 CE AAF669
国泰君安证券（香港）有限公司 CE ABY236
Joint Lead Managers (9)
中国国际金融香港证券有限公司 CE AEN894
中信建投（国际）融资有限公司 CE BAU112
J.P. Morgan Securities (Asia Pacific) Limited CE AAJ321
Merrill Lynch (Asia Pacific) Limited CE AAC198
高盛（亚洲）有限责任公司 CE ACC536
摩根士丹利亚洲有限公司 CE AAD291
UBS Securities Hong Kong Limited CE BIN466
法国巴黎证券（亚洲）有限公司 CE AAF669
国泰君安证券（香港）有限公司 CE ABY236
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | Abstract Enigma Limited | 775,139,900 HKD | — | 2.17% | — | 6 months | 2025-11-20 |
| 2 | CPE Redwood Investment Limited | 620,101,400 HKD | — | 1.74% | — | 6 months | 2025-11-20 |
| 3 | Hillhouse Funds | 1,550,306,100 HKD | — | 4.35% | — | 6 months | 2025-11-20 |
| 4 | Lingotto Innovation Master Fund | 232,544,600 HKD | — | 0.65% | — | 6 months | 2025-11-20 |
| 5 | LMR Multi-Strategy Master Fund Limited | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
| 6 | Mirae投资者 | 465,089,200 HKD | — | 1.30% | — | 6 months | 2025-11-20 |
| 7 | MX Bright Charm (BVI) Limited | 542,595,300 HKD | — | 1.52% | — | 6 months | 2025-11-20 |
| 8 | Oaktree Funds | 581,361,500 HKD | — | 1.63% | — | 6 months | 2025-11-20 |
| 9 | Perseverance Asset Management International (Singapore) Pte. Ltd. | 620,101,400 HKD | — | 1.74% | — | 6 months | 2025-11-20 |
| 10 | Pinpoint Asset Management Limited | 775,139,900 HKD | — | 2.17% | — | 6 months | 2025-11-20 |
| 11 | RBC Global Asset Management (Asia) Limited | 410,832,300 HKD | — | 1.15% | — | 6 months | 2025-11-20 |
| 12 | UBS Asset Management (Singapore) Ltd. | 775,139,900 HKD | — | 2.17% | — | 6 months | 2025-11-20 |
| 13 | WT Asset Management Limited | 775,139,900 HKD | — | 2.17% | — | 6 months | 2025-11-20 |
| 14 | Zenith Hop International Limited | 852,646,000 HKD | — | 2.39% | — | 6 months | 2025-11-20 |
| 15 | 景林资产管理香港有限公司 | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
| 16 | 科威特投资局 | 3,875,778,400 HKD | — | 10.87% | — | 6 months | 2025-11-20 |
| 17 | 洛阳科创集团有限公司 | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
| 18 | 上海高毅及CICC Financial Trading Limited | 930,178,400 HKD | — | 2.61% | — | 6 months | 2025-11-20 |
| 19 | 上海景林及CICC Financial Trading Limited | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
| 20 | 太平洋资产管理有限责任公司 | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
| 21 | 泰康人寿保险有限责任公司 | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
| 22 | 中石化(香港)有限公司 | 3,875,778,400 HKD | — | 10.87% | — | 6 months | 2025-11-20 |
| 23 | 中邮理财有限责任公司 | 387,556,800 HKD | — | 1.09% | — | 6 months | 2025-11-20 |
Directors & Management
| Chairman | 曾毓群 |
|---|---|
| Company Secretary | 蔣理,簡雪艮 |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | 廈門瑞庭投資有限公司(22.66%),黃世霖(10.39%),寧波聯合創新新能源投資管理合伙企業(有限合伙)(6.29%) |
|---|
AI
AI Analysis
Market Sentiment
宁德时代 IPO was oversubscribed by 15.17 times, reflecting solid market interest. With a hit rate of 22.49%, a notable portion of applicants received shares, but the high offer price of HKD 263 per lot likely limited retail enthusiasm compared to some smaller-cap IPOs. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
A clear inefficiency appears at the high tiers: both 甲尾 (10,000 lots) and 乙头 (20,000 lots) resulted in just 1.0 expected lot, meaning applicants tying up enormous capital received the same tiny allocation. Given the similar outcome, the 甲尾 route was marginally less capital-intensive, but the extremely low yield per dollar committed makes either tier unattractive after accounting for funding costs and broker fees. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Demographic data is missing in this dataset—total holders, mainland participation, and HK participation are all null or zero. No conclusions can be drawn about investor origin or concentration, and any such analysis would require verifying official HKEX filings. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Subscription Tiers
IPO Timeline
