不同集团 06090 Prospectus Information

IPO Timeline

Broker Deadline

2025-09-18

Morning deadline

HKEX Deadline

2025-09-18

Noon deadline

Broker Results (T-2)

2025-09-19

Some brokers release in afternoon

Grey Market (T-1)

2025-09-22

Afternoon

HKEX Allotment (T-1)

2025-09-22

Evening

Registrar Allotment (T-1)

2025-09-22

Evening

Listing Day (T)

2025-09-23

First day of trading

Company Overview

Stock Name	不同集团
Stock Code	06090
Company Full Name	不同集团
Industry	New Energy
Principal Activities	China-based company specializing in the design and sale of nursery products
Listing Date	2025-09-23
Listing Rules Era	New Rules (after Aug 2025)
Listing Rules Chapter	To be extracted
Weighted Voting Rights (WVR)	No
Registered Address (Mainland China)	Danba Road Putuo District Shanghai PRC
Business Address (Hong Kong)	40th Floor, Dah Sing Financial Centre No. 248 Queen’s Road East Wanchai Hong Kong
Place of Incorporation	To be extracted
Listing Method	To be extracted
Listing Board	Main Board
Website	butong.com
Share Registrar	卓佳证券登记有限公司 (Tricor Investor Services Limited)
Registrar Contact	Computershare Hong Kong Investor
A-Share/US Dual Listing	No

Offering Information

Offering Mechanism	Mechanism B
Offer Price	HK$ 71.20 / shares
Offer Price Range	Final offer price only, no range
Lot Size	100 shares
Entry Threshold	HK$ 7,120
Par Value	RMB 0.0001 / shares
Offer Period	2025-09-15 to 2025-09-18
Global Offering Shares	10,980,900 shares
HK Public Offer Shares (Initial)	1,098,100 shares (10.0%)
Public Offer Lots (Initial)	10,981lots (5,490lots, 5,491lots)
International Placing Shares (Initial)	9,882,800 shares (90.0%)
Offer Ratio	~12.1%
Total Shares Post-IPO	90,751,378 shares
Greenshoe (Over-allotment Option)	Yes
Stabilizing Manager (Greenshoe)	To be extracted
Cornerstone Share	16.0%
Clawback Tiers	机制B-无回补
Reallocation Option	No
Total Global Offering Size	HK$ 781,840,080

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$ 7,120
2 lots	200	HK$ 14,240
3 lots	300	HK$ 21,360
4 lots	400	HK$ 28,480
5 lots	500	HK$ 35,600
6 lots	600	HK$ 42,720
7 lots	700	HK$ 49,840
8 lots	800	HK$ 56,960
9 lots	900	HK$ 64,080
10 lots	1,000	HK$ 71,200
15 lots	1,500	HK$ 106,800
20 lots	2,000	HK$ 142,400
25 lots	2,500	HK$ 178,000
30 lots	3,000	HK$ 213,600
35 lots	3,500	HK$ 249,200
40 lots	4,000	HK$ 284,800
45 lots	4,500	HK$ 320,400
50 lots	5,000	HK$ 356,000
60 lots	6,000	HK$ 427,200
70 lots	7,000	HK$ 498,400
80 lots	8,000	HK$ 569,600
90 lots	9,000	HK$ 640,800
100 lots	10,000	HK$ 712,000
200 lots	20,000	HK$ 1,424,000
300 lots	30,000	HK$ 2,136,000
400 lots	40,000	HK$ 2,848,000
500 lots	50,000	HK$ 3,560,000
600 lots	60,000	HK$ 4,272,000
700 lots	70,000	HK$ 4,984,000

Pool B

Lots Subscribed	Shares Subscribed	Subscription Amount (HKD)
800 lots	80,000	HK$ 5,696,000
900 lots	90,000	HK$ 6,408,000
1,000 lots	100,000	HK$ 7,120,000
1,500 lots	150,000	HK$ 10,680,000
2,000 lots	200,000	HK$ 14,240,000
2,500 lots	250,000	HK$ 17,800,000
3,000 lots	300,000	HK$ 21,360,000
3,500 lots	350,000	HK$ 24,920,000
4,000 lots	400,000	HK$ 28,480,000
5,000 lots	500,000	HK$ 35,600,000
5,490 lots	549,000	HK$ 39,088,800

Valuation & Financials

Market Cap (at Offer Price)	HK$ 6,461,498,113
Pre-IPO Valuation (Last Round)	To be extracted
P/E Ratio	不適用（公司處於盈利狀態，但未提供市盈率信息）
Profit/Loss Status	Net loss (see financial statements)
Period-End Cash Balance	人民币49,700,000元
Listing Expenses	To be extracted
Listing Expenses / Funds Raised	~9.5%
Total Pre-IPO Investment	To be extracted

First Day Performance

First Day Close	HK$ 3.24
First Day Open	HK$ 3.23
First Day Change	1.89%
First Day Volume	16755000.0
First Day Turnover	54236800.0

Use of Proceeds

Use of Proceeds	1、約25.7%或170.0百萬港元預計將用于提升生產能力； 2、約16.6%或110.0百萬港元預計將用于擴大于北美、歐洲及東南亞等海外市場的影響力； 3、約34.1%或225.5百萬港元將用于品牌活動及銷售網絡的擴大； 4、約13.6%或90.0百萬港元預計將用于研發新品，目標是擴大產品組合的廣度及深度； 5、約10%或66.2百萬港元預計將用作營運資金和一般企業用途。

1、約25.7%或170.0百萬港元預計將用于提升生產能力； 2、約16.6%或110.0百萬港元預計將用于擴大于北美、歐洲及東南亞等海外市場的影響力； 3、約34.1%或225.5百萬港元將用于品牌活動及銷售網絡的擴大； 4、約13.6%或90.0百萬港元預計將用于研發新品，目標是擴大產品組合的廣度及深度； 5、約10%或66.2百萬港元預計將用作營運資金和一般企業用途。

Underwriting Syndicate

Joint Sponsors (2)

中信证券（香港）有限公司 CE AAK249 海通国际资本有限公司 CE ADQ859

Sponsor cum Overall Coordinator (2)

中信里昂证券有限公司 CE AAB893 海通国际证券有限公司 CE AAF806

Overall Coordinators (3)

中信里昂证券有限公司 CE AAB893 海通国际证券有限公司 CE AAF806 富途证券国际（香港）有限公司 CE AZT137

Joint Global Coordinators (3)

中信里昂证券有限公司 CE AAB893 海通国际证券有限公司 CE AAF806 富途证券国际（香港）有限公司 CE AZT137

Joint Bookrunners (7)

中信里昂证券有限公司 CE AAB893 海通国际证券有限公司 CE AAF806 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 华泰金融控股（香港）有限公司 CE AOK809 利弗莫尔证券有限公司 CE BJN764 百惠证券有限公司 CE BPQ161

Joint Lead Managers (7)

Capital Market Intermediaries (7)

Service Providers

Role	Institution
Legal Advisor to Company	科律香港律师事务所通商律师事务所 Harney Westwood & Riegels
Legal Advisor to Sponsors/Underwriters	亚司特律师事务所竞天公诚律师事务所
Auditor and Reporting Accountant	毕马威会计师事务所
Industry Advisor	弗若斯特沙利文（北京）咨询有限公司上海分公司
Compliance Advisor	新百利融资有限公司 CE BAU754
Receiving Banks	中国银行（香港）有限公司交通银行股份有限公司香港分行

Cornerstone Investors

#	Investor Name	Investment Amount	Shares Subscribed	% of Offer Shares	% of Total Shares	Lock-up Period	Est. Unlock Date
1	信庭基金	5,000,000 HKD	585,400	5.33%	0.65%	6 months	2026-03-23
2	上海通怡及华泰资本投资（就通怡场外掉期而言）	5,000,000 HKD	585,400	5.33%	0.65%	6 months	2026-03-23
3	Great Praise	5,000,000 HKD	585,400	5.33%	0.65%	6 months	2026-03-23

Directors & Management

Chairman	Mr. Wang Wei
Company Secretary	Mr. Yan Dong

執行董事 (3)

#	Name	English Name	Type
1	汪蔚	—	執行董事
2	沈凌	—	執行董事
3	颜栋	—	執行董事

獨立非執行董事 (3)

#	Name	English Name	Type
1	严健军	—	獨立非執行董事
2	余振球	—	獨立非執行董事
3	陈颖琪	—	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 the completion of the Global Offering (assuming that the Over-allotment Option is not exercised and without taking into account any Shares which may be allotted and is

AI AI Analysis

Market Sentiment

The IPO for 不同集团 surged to a 3,317.47x oversubscription, signaling fervent retail demand likely fueled by its consumer retail positioning and attractive pricing. The overall hit rate plummeted to just 7.11% (10,981 accepted from 154,400 applicants), underscoring the severe allocation shortage typical of extreme oversubscriptions. With shares reallocated from the international tranche, the offering drew outsized enthusiasm despite the low probability of securing lots. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Tier Analysis

At the A‑tail, the expected allocation per application was only 0.2135 lots, while the B‑head offered a marginally better 0.2402 lots—a difference of just 0.0267 lots despite requiring significantly more capital. This near‑identical allocation between adjacent tiers creates inefficient tier stepping, as the additional burden of a B‑head bid yields almost no real advantage in share acquisition. The close A‑tail (70,000) and B‑head (80,000) application counts reinforce the indiscriminate distribution pattern. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Demographics

Demographic data is absent in the provided records, with mainland and Hong Kong participation rates both reported at 0%. Without details on age, gender, or geographic distribution, no meaningful demographic patterns can be observed for this IPO. The lack of granular breakdown limits insight into the bidding population’s composition. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Offering Structure

Subscription Tiers

IPO Timeline

不同集团 06090Prospectus Information

Market Sentiment

Tier Analysis

Demographics