Biren Technology 06082Prospectus Information

Prospectus Information
返回 Stock Info Prospectus Allotment Results Allotment Profile Expected Lots
IPO Timeline
Broker Deadline
2025-12-29
Morning deadline
HKEX Deadline
2025-12-29
Noon deadline
Broker Results (T-2)
2025-12-30
Some brokers release in afternoon
Grey Market (T-1)
2025-12-31
Afternoon
HKEX Allotment (T-1)
2025-12-31
Evening
Registrar Allotment (T-1)
2025-12-31
Evening
Listing Day (T)
2026-01-02
First day of trading
Company Overview
Stock NameBiren Technology
Stock Code06082
Company Full NameBiren Technology
IndustryRobotics
Principal Activitiesintegrated intelligent computing solution comprising of two components, namely (i) hardware systems based on our GPGPU architecture and chips, and (ii) BIRENSUPA, a computing software platform
Listing Date2026-01-02
Listing Rules EraNew Rules (after Aug 2025)
Listing Rules ChapterChapter 18C
Weighted Voting Rights (WVR)No
Registered Address (Mainland China)Headquarters and Principal Place Room 1302, 13/F, Building 16 of Business in the PRC No. 2388 Chenhang Road Minhang District, Shanghai PRC Principal Place of Business in Room 1919, 19/F, Lee Garden On
Business Address (Hong Kong)香港銅鑼灣希慎道33號利園一期19樓1919室
Place of IncorporationTo be extracted
Listing MethodTo be extracted
Listing BoardMain Board
Websitebirentech.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 18C特专科技
Offer PriceHK$ 19.60 / shares
Offer Price RangeFinal offer price only, no range
Lot Size200 shares
Entry ThresholdHK$ 3,920
Par ValueRMB 0.02 / shares
Offer Period2025-12-22 to 2025-12-29
Global Offering Shares284,846,600 shares
HK Public Offer Shares (Initial)12,384,800 shares (4.3%)
Public Offer Lots (Initial)61,924lots (30,962lots, 30,962lots)
International Placing Shares (Initial)235,308,000 shares (95.7%)
Offer Ratio~4.3%
Total Shares Post-IPO2,358,977,900 shares
Greenshoe (Over-allotment Option)Yes
Stabilizing Manager (Greenshoe)To be extracted
Cornerstone Share0%
Clawback Tiers18C回拨：<10倍→酌情增至10%，10倍至<50倍→10%，≥50倍→20%
Reallocation OptionNo
Total Global Offering SizeHK$ 5,582,993,360
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 200 HK$ 3,920
2 lots 400 HK$ 7,840
3 lots 600 HK$ 11,760
4 lots 800 HK$ 15,680
5 lots 1,000 HK$ 19,600
6 lots 1,200 HK$ 23,520
7 lots 1,400 HK$ 27,440
8 lots 1,600 HK$ 31,360
9 lots 1,800 HK$ 35,280
10 lots 2,000 HK$ 39,200
15 lots 3,000 HK$ 58,800
20 lots 4,000 HK$ 78,400
25 lots 5,000 HK$ 98,000
30 lots 6,000 HK$ 117,600
35 lots 7,000 HK$ 137,200
40 lots 8,000 HK$ 156,800
45 lots 9,000 HK$ 176,400
50 lots 10,000 HK$ 196,000
100 lots 20,000 HK$ 392,000
150 lots 30,000 HK$ 588,000
200 lots 40,000 HK$ 784,000
250 lots 50,000 HK$ 980,000
300 lots 60,000 HK$ 1,176,000
350 lots 70,000 HK$ 1,372,000
400 lots 80,000 HK$ 1,568,000
450 lots 90,000 HK$ 1,764,000
500 lots 100,000 HK$ 1,960,000
1,000 lots 200,000 HK$ 3,920,000
Pool B
Lots SubscribedShares SubscribedSubscription Amount (HKD)
1,500 lots 300,000 HK$ 5,880,000
2,000 lots 400,000 HK$ 7,840,000
2,500 lots 500,000 HK$ 9,800,000
3,000 lots 600,000 HK$ 11,760,000
3,500 lots 700,000 HK$ 13,720,000
4,000 lots 800,000 HK$ 15,680,000
4,500 lots 900,000 HK$ 17,640,000
5,000 lots 1,000,000 HK$ 19,600,000
10,000 lots 2,000,000 HK$ 39,200,000
15,000 lots 3,000,000 HK$ 58,800,000
20,000 lots 4,000,000 HK$ 78,400,000
25,000 lots 5,000,000 HK$ 98,000,000
30,962 lots 6,192,400 HK$ 121,371,040
Valuation & Financials
Market Cap (at Offer Price)HK$ 46,235,966,840
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 (see financial statements)
Period-End Cash BalanceTo be extracted
Listing ExpensesTo be extracted
Listing Expenses / Funds Raised~4.0%
Total Pre-IPO InvestmentTo be extracted
First Day Performance
First Day CloseHK$ 34.46
First Day OpenHK$ 35.7
First Day Change75.82%
First Day Volume150710000.0
First Day Turnover5521280000.0
Use of Proceeds
Use of Proceeds1、約45.0%或1,957.8百萬港元將用于智能計算硬件的發展； 2、約40.0%或1,740.2百萬港元將用于軟件平臺的開發及升級； 3、約5.0%或217.5百萬港元將用于智能計算解決方案的商業化； 4、約10.0%或435.1百萬港元將用作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 中国平安资本（香港）有限公司 CE AWB701 中银国际亚洲有限公司 CE AET863
Sponsor cum Overall Coordinator (3)
中国国际金融香港证券有限公司 CE AEN894 平安证券（香港）有限公司 中银国际亚洲有限公司 CE AET863
Overall Coordinators (5)
中国国际金融香港证券有限公司 CE AEN894 平安证券（香港）有限公司 中银国际亚洲有限公司 CE AET863 中信里昂证券有限公司 CE AAB893 东方证券（香港）有限公司 CE AVD362
Joint Global Coordinators (6)
中国国际金融香港证券有限公司 CE AEN894 平安证券（香港）有限公司 中银国际亚洲有限公司 CE AET863 中信里昂证券有限公司 CE AAB893 东方证券（香港）有限公司 CE AVD362 富途证券国际（香港）有限公司 CE AZT137
Joint Bookrunners (7)
中国国际金融香港证券有限公司 CE AEN894 平安证券（香港）有限公司 中银国际亚洲有限公司 CE AET863 中信里昂证券有限公司 CE AAB893 东方证券（香港）有限公司 CE AVD362 富途证券国际（香港）有限公司 CE AZT137 浦银国际融资有限公司 CE BFZ375
Joint Lead Managers (7)
中国国际金融香港证券有限公司 CE AEN894 平安证券（香港）有限公司 中银国际亚洲有限公司 CE AET863 中信里昂证券有限公司 CE AAB893 东方证券（香港）有限公司 CE AVD362 富途证券国际（香港）有限公司 CE AZT137 浦银国际融资有限公司 CE BFZ375
Capital Market Intermediaries (7)
中国国际金融香港证券有限公司 CE AEN894 平安证券（香港）有限公司 中银国际亚洲有限公司 CE AET863 中信里昂证券有限公司 CE AAB893 东方证券（香港）有限公司 CE AVD362 富途证券国际（香港）有限公司 CE AZT137 浦银国际融资有限公司 CE BFZ375
Service Providers
RoleInstitution
Legal Advisor to Company Davis Polk & Wardwell
方达律师事务所
Jacobson Burton Kelley PLLC
Legal Advisor to Sponsors/Underwriters 富而德律师事务所
金杜律师事务所
Auditor and Reporting Accountant 罗兵咸永道会计师事务所
Industry Advisor 灼识行业咨询有限公司
Receiving Banks 中国银行（香港）有限公司
中国工商银行（亚洲）有限公司
Cornerstone Investors
#Investor NameInvestment AmountShares Subscribed% of Offer Shares% of Total SharesLock-up PeriodEst. Unlock Date
1 3W Fund Management Limited — — — — 6 months 2026-07-02
2 QM120 Limited — — — — 6 months 2026-07-02
3 WT Asset Management Limited — — — — 6 months 2026-07-02
4 Capital Management Limited — — — — 6 months 2026-07-02
5 托的方式担任中国平安人寿保险股份有限公司 — — — — 6 months 2026-07-02
6 Huadeng Technology Peak Fortitude Ventures Ltd — — — — 6 months 2026-07-02
7 Lion Global Investors Limited — — — — 6 months 2026-07-02
8 CICC Financial Trading Limited — — — — 6 months 2026-07-02
9 泰康人寿保险有限责任公司 — — — — 6 months 2026-07-02
10 Aspirational China Growth GP Limited — — — — 6 months 2026-07-02
11 Charoen Pokphand Robot Limited — — — — 6 months 2026-07-02
12 为富国基金管理有限公司 — — — — 6 months 2026-07-02
13 亿都开元有限公司 — — — — 6 months 2026-07-02
14 Enhanced Investment Products Limited — — — — 6 months 2026-07-02
Directors & Management
ChairmanWen ZHANG
Company Secretary童義敏
執行董事 (5)
#NameEnglish NameType
1 Wen ZHANG — 執行董事
2 Zhou HONG — 執行董事
3 Linglan ZHANG — 執行董事
4 肖冰 — 執行董事
5 Luting PAN — 執行董事
非執行董事 (4)
#NameEnglish NameType
1 刘经国 — 非執行董事
2 周志峰 — 非執行董事
3 王林 — 非執行董事
4 陈淑英 — 非執行董事
獨立非執行董事 (8)
#NameEnglish NameType
1 王源 — 獨立非執行董事
2 林兆荣 — 獨立非執行董事
3 刘瑾 — 獨立非執行董事
4 附注：截至最后实际可行日期，周志峰 — 獨立非執行董事
5 辞去董事职务，相关辞呈有条件并于上市日期前一日生效，而王源 — 獨立非執行董事
6 独立非执行董事的任命将于上市日期生效。周志峰 — 獨立非執行董事
7 非执行董事，且该等独立非执行董事应占董事会成员人数至少三分之一。周志峰 — 獨立非執行董事
8 陈淑英 — 獨立非執行董事
Major Shareholders
Major Shareholders & HoldingsSUBSTANTIAL SHAREHOLDERS SUBSTANTIAL SHAREHOLDERS So far as our Directors are aware, immediately following the completion of the Global Offering and the conversion of our Unlisted Shares to H Shares assuming the Offer Size AdjustmentOptionandtheOver-allotmentOptionarenotexe
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 saw astronomical demand with a 2347.53x oversubscription ratio, signaling extreme market enthusiasm for this semiconductor firm listed via Chapter 18C. The overall hit rate of 0.0% reflects that virtually no retail applicants received allocations, underscoring the scramble for shares at the final offer price of HK$19.60. This level of frenzy is rare and highlights a speculative fervor reminiscent of landmark tech IPOs. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice. Data may contain errors or omissions; verify against official HKEX filings.)

Tier Analysis

A notable anomaly exists between the A-tail and B-head tiers: A-tail applicants (200,000 individuals) and B-head applicants (300,000 individuals) both expected only 1 lot, erasing the usual allocation advantage of moving into the B bracket. Despite B-head requiring a substantially larger capital commitment, the expected lot parity suggests an inefficient fee structure, where the marginal brokerage cost per lot becomes disproportionately high for B-head subscribers. This flattening of tier benefits often occurs under extreme oversubscription and warrants careful cost-benefit assessment. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice. Broker fee structures vary; actual costs may differ.)

Demographics

Mainland Chinese investors dominated the applicant pool at 75.9%, reflecting strong cross-border appetite for high-growth tech listings under the 18C framework. The gender split skewed male at 62.5% with an average age of 41.5, consistent with the demographic profile of aggressive retail participants in semiconductor IPOs. The pronounced mainland tilt, absent other regional data, points to concentrated interest from key economic hubs. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice. Data may contain errors or omissions from source documents.)

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