IPO Timeline
Broker Deadline
2026-04-13
Morning deadline
HKEX Deadline
2026-04-13
Noon deadline
Broker Results (T-2)
2026-04-15
Some brokers release in afternoon
Grey Market (T-1)
2026-04-16
Afternoon
HKEX Allotment (T-1)
2026-04-16
Evening
Registrar Allotment (T-1)
2026-04-16
Evening
Listing Day (T)
2026-04-17
First day of trading
Company Overview
| Stock Name | 思格新能 |
|---|---|
| Stock Code | 06656 |
| Company Full Name | 思格新能 |
| Industry | AI & Machine Learning |
| Principal Activities | global leader in distributed energy storage system (DESS) solutions |
| Listing Date | 2026-04-17 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | Headquarters and Principal Place of Building 12-2, 678 Business in the PRC Yunqiao Road Pilot Free Trade Zone Shanghai PRC Principal Place of Business in Room 1922, 19/F Hong Kong Lee Garden One 33 Hy |
| Business Address (Hong Kong) | 香港 銅鑼灣 希慎道33號 利園一期 19樓1922室 |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | sigenergy.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 | No |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 324.20 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 32,420 |
| Par Value | RMB 0.1 / shares |
| Offer Period | 2026-04-08 to 2026-04-13 |
| Global Offering Shares | 13,573,900 shares |
| HK Public Offer Shares (Initial) | 1,357,400 shares (10.0%) |
| Public Offer Lots (Initial) | 13,574lots (6,787lots, 6,787lots) |
| International Placing Shares (Initial) | 12,216,500 shares (90.0%) |
| Offer Ratio | ~5.5% |
| Total Shares Post-IPO | 246,796,930 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | To be extracted |
| Cornerstone Share | 49.8% |
| Clawback Tiers | 机制B-无回补 |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 4,400,658,380 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 32,420 |
| 2 lots | 200 | HK$ 64,840 |
| 3 lots | 300 | HK$ 97,260 |
| 4 lots | 400 | HK$ 129,680 |
| 5 lots | 500 | HK$ 162,100 |
| 6 lots | 600 | HK$ 194,520 |
| 7 lots | 700 | HK$ 226,940 |
| 8 lots | 800 | HK$ 259,360 |
| 9 lots | 900 | HK$ 291,780 |
| 10 lots | 1,000 | HK$ 324,200 |
| 15 lots | 1,500 | HK$ 486,300 |
| 20 lots | 2,000 | HK$ 648,400 |
| 25 lots | 2,500 | HK$ 810,500 |
| 30 lots | 3,000 | HK$ 972,600 |
| 35 lots | 3,500 | HK$ 1,134,700 |
| 40 lots | 4,000 | HK$ 1,296,800 |
| 45 lots | 4,500 | HK$ 1,458,900 |
| 50 lots | 5,000 | HK$ 1,621,000 |
| 60 lots | 6,000 | HK$ 1,945,200 |
| 70 lots | 7,000 | HK$ 2,269,400 |
| 80 lots | 8,000 | HK$ 2,593,600 |
| 90 lots | 9,000 | HK$ 2,917,800 |
| 100 lots | 10,000 | HK$ 3,242,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 200 lots | 20,000 | HK$ 6,484,000 |
| 300 lots | 30,000 | HK$ 9,726,000 |
| 400 lots | 40,000 | HK$ 12,968,000 |
| 500 lots | 50,000 | HK$ 16,210,000 |
| 600 lots | 60,000 | HK$ 19,452,000 |
| 700 lots | 70,000 | HK$ 22,694,000 |
| 800 lots | 80,000 | HK$ 25,936,000 |
| 900 lots | 90,000 | HK$ 29,178,000 |
| 1,000 lots | 100,000 | HK$ 32,420,000 |
| 2,000 lots | 200,000 | HK$ 64,840,000 |
| 3,000 lots | 300,000 | HK$ 97,260,000 |
| 4,000 lots | 400,000 | HK$ 129,680,000 |
| 5,000 lots | 500,000 | HK$ 162,100,000 |
| 6,000 lots | 600,000 | HK$ 194,520,000 |
| 6,787 lots | 678,700 | HK$ 220,034,540 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 80,011,564,706 |
|---|---|
| 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1,213,700,000元 |
| Listing Expenses | ~HK$ 210,800,000 |
| Listing Expenses / Funds Raised | ~4.8% |
| Total Pre-IPO Investment | To be extracted |
First Day Performance
| First Day Close | HK$ 659.5 |
|---|---|
| First Day Open | HK$ 581.0 |
| First Day Change | 103.42% |
| First Day Volume | 7713820.0 |
| First Day Turnover | 4596550000.0 |
Use of Proceeds
| Use of Proceeds | 1、約38.0%（或1,592.2百萬港元）將用于進一步擴大研發團隊及提升研發設備及技術； 2、約32.0%（或1,340.8百萬港元）將用于加強營銷及售后服務，以推動擴大全球客戶群和業務覆蓋范圍； 3、約12.0%（或502.8百萬港元）將用于擴張產能； 4、約9.0%（或377.1百萬港元）將用于多元化產品組合及擴展工商業光儲充解決方案； 5、約9.0%（或377.1百萬港元）將用于營運資金及一般公司用途。 |
|---|
Underwriting Syndicate
Joint Sponsors (2)
中信证券（香港）有限公司 CE AAK249
法国巴黎证券（亚洲）有限公司 CE AAF669
Sponsor cum Overall Coordinator (2)
中信里昂证券有限公司 CE AAB893
法国巴黎证券（亚洲）有限公司 CE AAF669
Overall Coordinators (3)
中信里昂证券有限公司 CE AAB893
法国巴黎证券（亚洲）有限公司 CE AAF669
中国国际金融香港证券有限公司 CE AEN894
Joint Global Coordinators (3)
中信里昂证券有限公司 CE AAB893
法国巴黎证券（亚洲）有限公司 CE AAF669
中国国际金融香港证券有限公司 CE AEN894
Joint Bookrunners (3)
中信里昂证券有限公司 CE AAB893
法国巴黎证券（亚洲）有限公司 CE AAF669
中国国际金融香港证券有限公司 CE AEN894
Joint Lead Managers (3)
中信里昂证券有限公司 CE AAB893
法国巴黎证券（亚洲）有限公司 CE AAF669
中国国际金融香港证券有限公司 CE AEN894
Capital Market Intermediaries (3)
中信里昂证券有限公司 CE AAB893
法国巴黎证券（亚洲）有限公司 CE AAF669
中国国际金融香港证券有限公司 CE AEN894
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
Davis Polk & Wardwell 嘉源律师事务所 |
| Legal Advisor to Sponsors/Underwriters |
年利达律师事务所 竞天公诚律师事务所 |
| 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 |
| Compliance Advisor | 浤博资本有限公司 CE BPB716 |
| Receiving Banks | 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 | 3W Funds | 78,294,300 HKD | — | 1.78% | — | 6 months | 2026-10-17 |
| 2 | Aranda Investments Pte. Ltd. | 258,452,240 HKD | — | 5.87% | — | 6 months | 2026-10-17 |
| 3 | AXA Investment Managers UK Limited | 117,457,660 HKD | — | 2.67% | — | 6 months | 2026-10-17 |
| 4 | Baring Asset Management (Asia) Limited | 78,294,300 HKD | — | 1.78% | — | 6 months | 2026-10-17 |
| 5 | Boyu Capital Opportunities Master Fund | 78,294,300 HKD | — | 1.78% | — | 6 months | 2026-10-17 |
| 6 | CPE Energy Investment Limited | 117,457,660 HKD | — | 2.67% | — | 6 months | 2026-10-17 |
| 7 | HHLR Advisors, Ltd. | 109,644,440 HKD | — | 2.49% | — | 6 months | 2026-10-17 |
| 8 | Hillhouse Investment Management, Ltd. | 54,822,220 HKD | — | 1.25% | — | 6 months | 2026-10-17 |
| 9 | Huadeng Technology Space Ventures Ltd | 78,294,300 HKD | — | 1.78% | — | 6 months | 2026-10-17 |
| 10 | Lazurite Hime L.P. | 117,457,660 HKD | — | 2.67% | — | 6 months | 2026-10-17 |
| 11 | Perseverance Asset Management International (Singapore) Pte. Ltd. | 78,294,300 HKD | — | 1.78% | — | 6 months | 2026-10-17 |
| 12 | Scene Cloud Global Limited | 78,294,300 HKD | — | 1.78% | — | 6 months | 2026-10-17 |
| 13 | UBS Asset Management (Singapore) Ltd. | 164,466,660 HKD | — | 3.74% | — | 6 months | 2026-10-17 |
| 14 | 富国基金管理有限公司 | 54,789,800 HKD | — | 1.25% | — | 6 months | 2026-10-17 |
| 15 | 富国资产管理(香港)有限公司 | 23,504,500 HKD | — | 0.53% | — | 6 months | 2026-10-17 |
| 16 | 高盛资产管理(香港)有限公司 | 164,466,660 HKD | — | 3.74% | — | 6 months | 2026-10-17 |
| 17 | 工银理财有限责任公司 | 78,294,300 HKD | — | 1.78% | — | 6 months | 2026-10-17 |
| 18 | 景林资产管理香港有限公司 | 78,294,300 HKD | — | 1.78% | — | 6 months | 2026-10-17 |
| 19 | 上海陆家嘴(集团)有限公司 | 226,259,180 HKD | — | 5.14% | — | 6 months | 2026-10-17 |
| 20 | 正大机器人有限公司 | 78,294,300 HKD | — | 1.78% | — | 6 months | 2026-10-17 |
| 21 | 中国太保投资管理(香港)有限公司 | 78,294,300 HKD | — | 1.78% | — | 6 months | 2026-10-17 |
Directors & Management
| Chairman | Mr. Liu Qinwei |
|---|---|
| Company Secretary | Mr. Huang Xueqi |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | CONTROLLING SHAREHOLDERS CORPORATE GOVERNANCE OurCompanywillcomplywiththeprovisionsoftheCorporateGovernanceCodeinAppendix C1 to the Listing Rules, which sets out principles of good corporate governance. Our Directors recognize the importance of good corporate governance in |
|---|
AI
AI Analysis
Market Sentiment
The IPO attracted extraordinary retail demand, oversubscribed by 1,102.05 times, reflecting intense enthusiasm for the new energy sector. The reported hit rate of 0.0% is likely erroneous, as total holders number 12,791; actual allocation chances were extremely slim given the demand. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
The expected allotment per applicant is uniformly 1 lot for both 甲尾 (10,000 applicants) and 乙头 (20,000 applicants), disregarding the typical progressive dilution of allocation ratios for larger bids. Such a flat distribution is anomalous and may indicate missing data or a non-standard allocation model. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Mainland Chinese participants dominated with 60.3% of successful applicants, underscoring strong cross-border appetite for Hong Kong new energy IPOs. The applicant profile is 61.2% male and averages 42.9 years old, consistent with a higher-risk investor demographic. (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
