IPO Timeline
Broker Deadline
2026-03-25
Morning deadline
HKEX Deadline
2026-03-25
Noon deadline
Broker Results (T-2)
2026-03-26
Some brokers release in afternoon
Grey Market (T-1)
2026-03-27
Afternoon
HKEX Allotment (T-1)
2026-03-27
Evening
Registrar Allotment (T-1)
2026-03-27
Evening
Listing Day (T)
2026-03-30
First day of trading
Company Overview
| Stock Name | Extreme Vision |
|---|---|
| Stock Code | 06636 |
| Company Full Name | Extreme Vision |
| Industry | Semiconductors |
| Principal Activities | AI computer vision solution provider in China, delivering end-to-end solution development, deployment and management services to enterprises across diverse industries |
| Listing Date | 2026-03-30 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | Chapter 18C |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | Hong Kong Room 1201 31/F, Tower Two, Times Square Jingkong Building 1 Matheson Street No. 57, Lushan Road Causeway Bay Huangdao District, Qingdao Hong Kong Shandong Province PRC |
| Business Address (Hong Kong) | Room 1201 31/F, Tower Two, Times Square Jingkong Building 1 Matheson Street No. 57, Lushan Road Causeway Bay Huangdao District, Qingdao Hong Kong Shandong Province PRC |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | extremevision.com.cn |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | Innovax Capital Limited Tricor Investor Services Limited |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | 18C特专科技 |
|---|---|
| Offer Price | HK$ 40.00 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 50 shares |
| Entry Threshold | HK$ 2,000 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-03-20 to 2026-03-25 |
| Global Offering Shares | 12,480,000 shares |
| HK Public Offer Shares (Initial) | 624,000 shares (5.0%) |
| Public Offer Lots (Initial) | 12,480lots (6,240lots, 6,240lots) |
| International Placing Shares (Initial) | 11,856,000 shares (95.0%) |
| Offer Ratio | ~11.05% |
| Total Shares Post-IPO | 112,914,783 shares |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 9.5% |
| Clawback Tiers | 回拨B档 |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 499,200,000 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 50 | HK$ 2,000 |
| 2 lots | 100 | HK$ 4,000 |
| 3 lots | 150 | HK$ 6,000 |
| 4 lots | 200 | HK$ 8,000 |
| 5 lots | 250 | HK$ 10,000 |
| 6 lots | 300 | HK$ 12,000 |
| 7 lots | 350 | HK$ 14,000 |
| 8 lots | 400 | HK$ 16,000 |
| 9 lots | 450 | HK$ 18,000 |
| 10 lots | 500 | HK$ 20,000 |
| 12 lots | 600 | HK$ 24,000 |
| 14 lots | 700 | HK$ 28,000 |
| 16 lots | 800 | HK$ 32,000 |
| 18 lots | 900 | HK$ 36,000 |
| 20 lots | 1,000 | HK$ 40,000 |
| 30 lots | 1,500 | HK$ 60,000 |
| 40 lots | 2,000 | HK$ 80,000 |
| 50 lots | 2,500 | HK$ 100,000 |
| 60 lots | 3,000 | HK$ 120,000 |
| 70 lots | 3,500 | HK$ 140,000 |
| 80 lots | 4,000 | HK$ 160,000 |
| 90 lots | 4,500 | HK$ 180,000 |
| 100 lots | 5,000 | HK$ 200,000 |
| 120 lots | 6,000 | HK$ 240,000 |
| 140 lots | 7,000 | HK$ 280,000 |
| 160 lots | 8,000 | HK$ 320,000 |
| 180 lots | 9,000 | HK$ 360,000 |
| 200 lots | 10,000 | HK$ 400,000 |
| 400 lots | 20,000 | HK$ 800,000 |
| 600 lots | 30,000 | HK$ 1,200,000 |
| 800 lots | 40,000 | HK$ 1,600,000 |
| 1,000 lots | 50,000 | HK$ 2,000,000 |
| 1,200 lots | 60,000 | HK$ 2,400,000 |
| 1,400 lots | 70,000 | HK$ 2,800,000 |
| 1,600 lots | 80,000 | HK$ 3,200,000 |
| 1,800 lots | 90,000 | HK$ 3,600,000 |
| 2,000 lots | 100,000 | HK$ 4,000,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 3,000 lots | 150,000 | HK$ 6,000,000 |
| 4,000 lots | 200,000 | HK$ 8,000,000 |
| 5,000 lots | 250,000 | HK$ 10,000,000 |
| 6,240 lots | 312,000 | HK$ 12,480,000 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 4,516,591,320 |
|---|---|
| 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 | Net loss (see financial statements) |
| Period-End Cash Balance | 人民币11,500,000元 |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | ~13.0% |
| Total Pre-IPO Investment | To be extracted |
First Day Performance
| First Day Close | HK$ 100.0 |
|---|---|
| First Day Open | HK$ 59.95 |
| First Day Change | 150.00% |
| First Day Volume | 8025930.0 |
| First Day Turnover | 579463000.0 |
Use of Proceeds
| Use of Proceeds | 1、約60.0%或260.6百萬港元，將用于增強公司的研發能力； 2、約30.0%或130.3百萬港元，將用于提升公司的商業化能力； 3、約43.4百萬港元（不超過10.0%），將用于提供營運資金及一般企業用途。 |
|---|
Underwriting Syndicate
Sole Sponsor (1)
中信证券（香港）有限公司 CE AAK249(sole)
Sponsor cum Overall Coordinator (1)
中信里昂证券有限公司 CE AAB893
Overall Coordinators (1)
中信里昂证券有限公司 CE AAB893
Joint Global Coordinators (1)
中信里昂证券有限公司 CE AAB893
Joint Bookrunners (7)
中信里昂证券有限公司 CE AAB893
招银国际融资有限公司 CE AVM940
农银国际融资有限公司 CE AWL249
国投证券（香港）有限公司 CE ADS612
国信证券（香港）经纪有限公司 CE AUI491
利弗莫尔证券有限公司 CE BJN764
华升证券（国际）有限公司 CE AFS030
Joint Lead Managers (7)
中信里昂证券有限公司 CE AAB893
招银国际融资有限公司 CE AVM940
农银国际证券有限公司 CE ACX411
国投证券（香港）有限公司 CE ADS612
国信证券（香港）经纪有限公司 CE AUI491
利弗莫尔证券有限公司 CE BJN764
华升证券（国际）有限公司 CE AFS030
Capital Market Intermediaries (8)
中信里昂证券有限公司 CE AAB893
招银国际融资有限公司 CE AVM940
农银国际融资有限公司 CE AWL249
农银国际证券有限公司 CE ACX411
国投证券（香港）有限公司 CE ADS612
国信证券（香港）经纪有限公司 CE AUI491
利弗莫尔证券有限公司 CE BJN764
华升证券（国际）有限公司 CE AFS030
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company | 嘉源律师事务所 |
| Legal Advisor to Sponsors/Underwriters | 海问律师事务所 |
| Auditor and Reporting Accountant | 安永会计师事务所 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| Receiving Banks |
中信银行（国际）有限公司 渣打银行（香港）有限公司 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 | 基石投资者（港元）(1) 数目(2) 百分比百分比政金国际 | 45,200,000 HKD | 1,130,000 | 9.06% | 1.00% | 6 months | 2026-09-30 |
| 2 | GKI | 2,000,000 HKD | 50,000 | 0.40% | 0.05% | 6 months | 2026-09-30 |
Directors & Management
| Chairman | Mr. Chan Chan Kit |
|---|---|
| Company Secretary | 徐雷 |
執行董事 (3)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 陈振杰 | — | 執行董事 |
| 2 | 罗韵 | — | 執行董事 |
| 3 | 陈硕 | — | 執行董事 |
獨立非執行董事 (4)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 牛保庄 | — | 獨立非執行董事 |
| 2 | 刘世杰 | — | 獨立非執行董事 |
| 3 | 李昌振 | — | 獨立非執行董事 |
| 4 | 张之杰 | — | 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 Global Offering and no other changes are made to the issued share capital of our Company between the Latest Practicable Date and Listing, the followi |
|---|
AI
AI Analysis
Market Sentiment
Extreme retail enthusiasm drove an oversubscription ratio of 4591.37x, far surpassing typical hot IPO levels. Despite the frenzy, the overall hit rate of 21.33% is relatively high, indicating that many small applicants received allocations, while the final offer price of HK$40.0 suggests stable pricing. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
An unusual inefficiency appears at the tier boundary: the last A-tier expected 0.4485 lots on a 100,000‑lot application, while the first B‑tier expected only 0.4001 lots on a larger 150,000‑lot application. This tiny edge for smaller applicants implies that applying as A‑tail yields better per‑lot allocation than B‑head, potentially making it a more cost‑effective choice after broker fees. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Mainland investors dominated at 71.5% of total holders, reinforcing the stock’s appeal among tech‑savvy cross‑border participants. The applicant pool skewed male (60.5%) with an average age of 41.8, a demographic profile often seen in speculative AI listings. (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
