| Stock Name | 如祺出行 |
|---|---|
| Stock Code | 09680 |
| Company Full Name | 如祺出行 |
| Industry | 軟件服務 |
| Principal Activities | 公司是中國行業領先的出行科技與服務公司，致力于搭建全方位、立體化的出行科技解決方家及服務體系，業務包括:出行服務，主要是網約車及Robotaxi服務；技術服務，主要是AI數據及模型解決方案、高精地圖；生態服務，主要是為司機及運力加盟商提供全套支持。 |
| Listing Date | 2024-07-10 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國廣東省廣州市黃埔區開泰大道30-4號 |
| Business Address (Hong Kong) | To be extracted |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | https://www.ruqimobility.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 Mechanism | To be extracted |
|---|---|
| Offer Price | HK$ 45.40 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | To be extracted |
| Entry Threshold | To be extracted |
| Par Value | To be extracted |
| Offer Period | To be extracted |
| Global Offering Shares | To be extracted |
| HK Public Offer Shares (Initial) | To be extracted |
| Public Offer Lots (Initial) | To be extracted |
| International Placing Shares (Initial) | To be extracted |
| Offer Ratio | To be extracted |
| Total Shares Post-IPO | To be extracted |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 77.1% |
| Clawback Tiers | To be extracted |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 63,150,500 |
| Market Cap (at Offer Price) | To be extracted |
|---|---|
| Pre-IPO Valuation (Last Round) | To be extracted |
| P/E Ratio | To be extracted |
| Profit/Loss Status | To be extracted |
| Period-End Cash Balance | To be extracted |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | To be extracted |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | HK$ 33.9 |
|---|---|
| First Day Open | HK$ 30.0 |
| First Day Change | -3.14% |
| First Day Volume | 2374300.0 |
| First Day Turnover | 80993100.0 |
| Use of Proceeds | 1、約40%或442.6百萬港元（相當于約人民幣403.2百萬元）預期將用于自動駕駛及Robotaxi運營服務研發活動； 2、約20%或221.3百萬港元（相當于約人民幣201.6百萬元）預期將用于出行服務產品升級及運營效率提升； 3、約20%或221.3百萬港元（相當于約人民幣201.6百萬元）預期將用于在實施地域擴張戰略過程中擴大用戶群、提高品牌知名度及提升市場份額； 4、約10%或110.7百萬港元（相當于約人民幣100.8百萬元）預期將用于在出行行業價值鏈中建立戰略合作伙伴關系、投資及收購，以更豐富及更優質的服務產品矩陣優化用戶體驗、改善經營業績、增加市場滲透及鞏固行業領導地位； 5、約10%或110.7百萬港元（相當于約人民幣100.8百萬元）預期將用作營運資金及一般公司用途。 |
|---|
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | Voyager Global Inc. | 231,969,500 HKD | — | 22.09% | — | 6 months | 2025-01-10 |
| 2 | WeRide Inc. | 154,560,000 HKD | — | 14.72% | — | 6 months | 2025-01-10 |
| 3 | 广州汽车工业集团有限公司 | 369,656,000 HKD | — | 35.20% | — | 6 months | 2025-01-10 |
| 4 | 香港小马智行有限公司 | 53,105,500 HKD | — | 5.06% | — | 6 months | 2025-01-10 |
| Chairman | 高銳 |
|---|---|
| Company Secretary | 陳健均,徐飛飛 |
| Major Shareholders & Holdings | 廣州汽車工業集團有限公司(22.68%);Tencent Mobility Limited(15.87%);中隆投資有限公司(12.84%);Jovial Lane Limited(5.79%);香港小馬智行有限公司(5.37%) |
|---|
Market Sentiment
The offer was undersubscribed at 0.6x, indicating weak demand. All 1,467 valid applications were accepted, resulting in a 100% hit rate, meaning every investor received full allocation. This significantly lags typical Hong Kong IPO enthusiasm where double-digit oversubscription is common. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
No tier distribution data is available for this IPO. However, with overall undersubscription, no tier-specific rationing occurred; all applicants, regardless of subscription size, received 100% allocation. This effectively eliminated any tier-based advantages or anomalies typically seen in hot IPOs. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Mainland Chinese investors comprised 77.1% of all applicants, signaling dominant cross-border interest. Male participants accounted for 68.4%, and the average applicant age was 42, reflecting a mature investor base. Hong Kong residents made up just 22.6%, underscoring the mainland-heavy demand profile. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
