IPO Timeline
Broker Deadline
2025-10-23
Morning deadline
HKEX Deadline
2025-10-23
Noon deadline
Broker Results (T-2)
2025-10-24
Some brokers release in afternoon
Grey Market (T-1)
2025-10-27
Afternoon
HKEX Allotment (T-1)
2025-10-27
Evening
Registrar Allotment (T-1)
2025-10-27
Evening
Listing Day (T)
2025-10-28
First day of trading
Cross-Market Price Comparison
| Other Listed Market | Shanghai (SSE) — 剑桥科技 |
|---|---|
| Other Market Stock Code | 603083 |
| H-Share Offer Price | HK$ 68.88 |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | 剑桥科技 |
|---|---|
| Stock Code | 06166 |
| Company Full Name | 剑桥科技 |
| Industry | Telecommunications |
| Principal Activities | 我們主要從事設計、開發及銷售連接及數據傳輸設備。於往績記錄期間，我們主要從銷售(i)寬帶；(ii)無線；及(iii)光模塊技術產品產生收入。 |
| Listing Date | 2025-10-28 |
| 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 上海市 閔行區 陳行公路2388號 8幢501室 |
| Business Address (Hong Kong) | 香港 銅鑼灣 希慎道33號 利園一期 19樓1901室 |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | cigtech.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$ 68.88 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 50 shares |
| Entry Threshold | HK$ 3,444 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2025-10-20 to 2025-10-23 |
| Global Offering Shares | 67,010,500 shares |
| HK Public Offer Shares (Initial) | 6,701,050 shares (10.0%) |
| Public Offer Lots (Initial) | 134,021lots (67,010lots, 67,011lots) |
| International Placing Shares (Initial) | 60,309,450 shares (90.0%) |
| Offer Ratio | ~20.0% |
| Total Shares Post-IPO | 335,030,341 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | To be extracted |
| Cornerstone Share | 0% |
| Clawback Tiers | 机制B-无回补 |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 4,615,683,240 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 50 | HK$ 3,444 |
| 2 lots | 100 | HK$ 6,888 |
| 3 lots | 150 | HK$ 10,332 |
| 4 lots | 200 | HK$ 13,776 |
| 5 lots | 250 | HK$ 17,220 |
| 6 lots | 300 | HK$ 20,664 |
| 7 lots | 350 | HK$ 24,108 |
| 8 lots | 400 | HK$ 27,552 |
| 9 lots | 450 | HK$ 30,996 |
| 10 lots | 500 | HK$ 34,440 |
| 12 lots | 600 | HK$ 41,328 |
| 14 lots | 700 | HK$ 48,216 |
| 16 lots | 800 | HK$ 55,104 |
| 18 lots | 900 | HK$ 61,992 |
| 20 lots | 1,000 | HK$ 68,880 |
| 30 lots | 1,500 | HK$ 103,320 |
| 40 lots | 2,000 | HK$ 137,760 |
| 50 lots | 2,500 | HK$ 172,200 |
| 60 lots | 3,000 | HK$ 206,640 |
| 70 lots | 3,500 | HK$ 241,080 |
| 80 lots | 4,000 | HK$ 275,520 |
| 90 lots | 4,500 | HK$ 309,960 |
| 100 lots | 5,000 | HK$ 344,400 |
| 120 lots | 6,000 | HK$ 413,280 |
| 140 lots | 7,000 | HK$ 482,160 |
| 160 lots | 8,000 | HK$ 551,040 |
| 180 lots | 9,000 | HK$ 619,920 |
| 200 lots | 10,000 | HK$ 688,800 |
| 400 lots | 20,000 | HK$ 1,377,600 |
| 600 lots | 30,000 | HK$ 2,066,400 |
| 800 lots | 40,000 | HK$ 2,755,200 |
| 1,000 lots | 50,000 | HK$ 3,444,000 |
| 1,200 lots | 60,000 | HK$ 4,132,800 |
| 1,400 lots | 70,000 | HK$ 4,821,600 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,600 lots | 80,000 | HK$ 5,510,400 |
| 1,800 lots | 90,000 | HK$ 6,199,200 |
| 2,000 lots | 100,000 | HK$ 6,888,000 |
| 4,000 lots | 200,000 | HK$ 13,776,000 |
| 6,000 lots | 300,000 | HK$ 20,664,000 |
| 8,000 lots | 400,000 | HK$ 27,552,000 |
| 10,000 lots | 500,000 | HK$ 34,440,000 |
| 12,000 lots | 600,000 | HK$ 41,328,000 |
| 14,000 lots | 700,000 | HK$ 48,216,000 |
| 16,000 lots | 800,000 | HK$ 55,104,000 |
| 18,000 lots | 900,000 | HK$ 61,992,000 |
| 20,000 lots | 1,000,000 | HK$ 68,880,000 |
| 40,000 lots | 2,000,000 | HK$ 137,760,000 |
| 67,010 lots | 3,350,500 | HK$ 230,782,440 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 23,076,889,888 |
|---|---|
| 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 | 盈利約人民幣167.0百萬元 |
| Period-End Cash Balance | To be extracted |
| Listing Expenses | ~HK$ 135,700,000 |
| Listing Expenses / Funds Raised | ~3.0% |
| Total Pre-IPO Investment | To be extracted |
First Day Performance
| First Day Close | HK$ 3.26 |
|---|---|
| First Day Open | HK$ 3.11 |
| First Day Change | 5.16% |
| First Day Volume | 26588100.0 |
| First Day Turnover | 83446200.0 |
Use of Proceeds
| Use of Proceeds | 1、約50.0%（或2,240.0百萬港元）用于提升自身設施及目前及未來co-location合作伙伴設施的產能； 2、約20.0%（或896.0百萬港元）用于進一步提升研發人才及技術，以實現更多研發突破； 3、約5.0%（或224.0百萬港元）用于業務推廣及營銷； 4、約15.0%（或672.0百萬港元）用于海外戰略投資，以實現長期增長戰略； 5、約10.0%（或448.0百萬港元）用作一般公司用途，包括營運資金需求。 |
|---|
Underwriting Syndicate
Sole Sponsor (1)
国泰君安融资有限公司 CE AGS488(sole)
Sponsor cum Overall Coordinator (1)
国泰君安证券（香港）有限公司 CE ABY236(sole)
Overall Coordinators (2)
国泰君安证券（香港）有限公司 CE ABY236
中信里昂证券有限公司 CE AAB893
Joint Global Coordinators (3)
国泰君安证券（香港）有限公司 CE ABY236
中信里昂证券有限公司 CE AAB893
星展亚洲融资有限公司 CE AAE430
Joint Bookrunners (3)
国泰君安证券（香港）有限公司 CE ABY236
中信里昂证券有限公司 CE AAB893
星展亚洲融资有限公司 CE AAE430
Joint Lead Managers (3)
国泰君安证券（香港）有限公司 CE ABY236
中信里昂证券有限公司 CE AAB893
星展亚洲融资有限公司 CE AAE430
Capital Market Intermediaries (4)
国泰君安证券（香港）有限公司 CE ABY236
中信里昂证券有限公司 CE AAB893
星展亚洲融资有限公司 CE AAE430
星河证券有限公司 CE BJG526
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
贝克•麦坚时律师事务所 北京德恒律师事务所 Thompson Hine LLP Hibiya Park Law Offices 的近律师行 Hogan Lovells International LLP Commerce & Finance Law Offices LLP |
| Legal Advisor to Sponsors/Underwriters |
周俊轩律师事务所与通商律师事务所联营 北京市君合律师事务所 |
| Auditor and Reporting Accountant | 致同（香港）会计师事务所有限公司 |
| 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 | 星展银行（香港）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 | 奇点资产管理有限公司 | — | — | — | — | 6 months | 2026-04-28 |
| 2 | 的投资经理为信庭投资国际有限公司 | — | — | — | — | 6 months | 2026-04-28 |
| 3 | 3W Fund Management Limited | — | — | — | — | 6 months | 2026-04-28 |
| 4 | Aqua Ocean Limited | — | — | — | — | 6 months | 2026-04-28 |
| 5 | 泰康人寿保险有限责任公司 | — | — | — | — | 6 months | 2026-04-28 |
| 6 | 工银理财有限责任公司 | — | — | — | — | 6 months | 2026-04-28 |
Directors & Management
| Chairman | Gerald G Wong |
|---|---|
| Company Secretary | 金澤清 |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | Gerald G Wong先生通過CIG開曼持有32,025,735股A股（佔11.95%），並與趙海波先生為一致行動人；趙海波先生通過康令科技持有5,850,476股A股（佔2.18%）。 |
|---|
AI
AI Analysis
Market Sentiment
剑桥科技IPO录得338.7倍超额认购，反映市场情绪极度高涨。由于极高中签难度，整体中签率趋近于零，最终定价大概率落在招股价区间上限附近。竞争激烈程度远超近期同类新股。(This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
甲尾（70,000股）与乙头（80,000股）预期均仅获配1手，乙头需多认购1万股却无额外获配，导致甲尾资金效率极低。机制B下无回拨且国际配售比例锁定90%，进一步压缩散户获配空间，大额孖展申购成本效益严重偏低。(This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
内地投资者参与比例高达78.6%，凸显通信设备赛道对内地资金的强大引力。申购人以男性为主（62.3%）、平均年龄41.5岁，呈现典型的中年男性主导特征。(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
