沃爾核材 09981Prospectus Information

Prospectus Information
返回 Stock Info Prospectus Allotment Results Allotment Profile Expected Lots
IPO Timeline
Broker Deadline
2026-02-10
Morning deadline
HKEX Deadline
2026-02-10
Noon deadline
Broker Results (T-2)
2026-02-11
Some brokers release in afternoon
Grey Market (T-1)
2026-02-12
Afternoon
HKEX Allotment (T-1)
2026-02-12
Evening
Registrar Allotment (T-1)
2026-02-12
Evening
Listing Day (T)
2026-02-13
First day of trading
Cross-Market Price Comparison
Other Listed Market Shenzhen (SZSE) — 沃尔核材
Other Market Stock Code002130
H-Share Offer PriceHK$ 20.09
Other Market PriceLoading...
Reference Exchange RateLoading...
H-Share Offer Price Premium/Discount vs Other MarketLoading...
Company Overview
Stock Name沃爾核材
Stock Code09981
Company Full Name沃爾核材
IndustryIndustrial Goods
Principal Activities我們的主要業務包括：(i)電子通信業務，涉及(a)通信電纜產品（包括高速銅纜、消費及工業綫纜）；及(b)電子材料的開發、製造及銷售；(ii)電力傳輸業務，涉及(a)新能源汽車電力傳輸產品（包括新能源汽車充電類產品及動力電池安全防護產品）；及(b)電纜附件的開發、製造及銷售；及(iii)其他業務，主要包括風力發電業務。
Listing Date2026-02-13
Listing Rules EraNew Rules (after Aug 2025)
Listing Rules ChapterTo be extracted
Weighted Voting Rights (WVR)No
Registered Address (Mainland China)中國 廣東省 深圳市 坪山區 青松路53號
Business Address (Hong Kong)香港 上環 永樂街60–66號 昌泰商業大廈 5樓504室
Place of IncorporationTo be extracted
Listing MethodTo be extracted
Listing BoardMain Board
Websitewww.woer.com
Share Registrar卓佳证券登记有限公司 (Tricor Investor Services Limited)
Registrar Contact(852)2862 8628
A-Share/US Dual ListingYes (A股)
Offering Information
Offering Mechanism Mechanism B
Offer PriceHK$ 20.09 / shares
Offer Price RangeFinal offer price only, no range
Lot Size200 shares
Entry ThresholdHK$ 4,018
Par ValueRMB 1.0 / shares
Offer Period2026-02-05 to 2026-02-10
Global Offering Shares139,988,800 shares
HK Public Offer Shares (Initial)13,999,000 shares (10.0%)
Public Offer Lots (Initial)69,995lots (34,997lots, 34,998lots)
International Placing Shares (Initial)125,989,800 shares (90.0%)
Offer Ratio~10.0%
Total Shares Post-IPO1,399,887,362 shares
Greenshoe (Over-allotment Option)No
Stabilizing Manager (Greenshoe)—
Cornerstone Share0%
Clawback Tiers机制B-无回补
Reallocation OptionNo
Total Global Offering SizeHK$ 2,812,374,992
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 SubscribedShares SubscribedSubscription Amount (HKD)
1 lots 200 HK$ 4,018
2 lots 400 HK$ 8,036
3 lots 600 HK$ 12,054
4 lots 800 HK$ 16,072
5 lots 1,000 HK$ 20,090
6 lots 1,200 HK$ 24,108
7 lots 1,400 HK$ 28,126
8 lots 1,600 HK$ 32,144
9 lots 1,800 HK$ 36,162
10 lots 2,000 HK$ 40,180
15 lots 3,000 HK$ 60,270
20 lots 4,000 HK$ 80,360
25 lots 5,000 HK$ 100,450
30 lots 6,000 HK$ 120,540
35 lots 7,000 HK$ 140,630
40 lots 8,000 HK$ 160,720
45 lots 9,000 HK$ 180,810
50 lots 10,000 HK$ 200,900
100 lots 20,000 HK$ 401,800
150 lots 30,000 HK$ 602,700
200 lots 40,000 HK$ 803,600
250 lots 50,000 HK$ 1,004,500
300 lots 60,000 HK$ 1,205,400
350 lots 70,000 HK$ 1,406,300
400 lots 80,000 HK$ 1,607,200
450 lots 90,000 HK$ 1,808,100
500 lots 100,000 HK$ 2,009,000
1,000 lots 200,000 HK$ 4,018,000
Pool B
Lots SubscribedShares SubscribedSubscription Amount (HKD)
1,500 lots 300,000 HK$ 6,027,000
2,000 lots 400,000 HK$ 8,036,000
2,500 lots 500,000 HK$ 10,045,000
3,000 lots 600,000 HK$ 12,054,000
3,500 lots 700,000 HK$ 14,063,000
4,000 lots 800,000 HK$ 16,072,000
4,500 lots 900,000 HK$ 18,081,000
5,000 lots 1,000,000 HK$ 20,090,000
10,000 lots 2,000,000 HK$ 40,180,000
15,000 lots 3,000,000 HK$ 60,270,000
20,000 lots 4,000,000 HK$ 80,360,000
25,000 lots 5,000,000 HK$ 100,450,000
30,000 lots 6,000,000 HK$ 120,540,000
34,997 lots 6,999,400 HK$ 140,617,946
Valuation & Financials
Market Cap (at Offer Price)HK$ 28,123,737,102
Pre-IPO Valuation (Last Round)To be extracted
P/E Ratio不適用（公司处于亏损状态）
Profit/Loss Status盈利約人民幣920.5百萬元
Period-End Cash Balance人民币951,600,000元
Listing ExpensesTo be extracted
Listing Expenses / Funds Raised~2.8%
Total Pre-IPO InvestmentTo be extracted
First Day Performance
First Day CloseHK$ 20.68
First Day OpenHK$ 20.1
First Day Change2.94%
First Day Volume31940300.0
First Day Turnover676861000.0
Use of Proceeds
Use of Proceeds1、45%或約1,240.8百萬港元將用于實現產品組合多元化及升級產品以擴展業務范圍并增加市場份額及滲透率； 2、27%或約727.4百萬港元將用于拓展全球業務版圖、提升中國及馬來西亞產能，以滿足快速增長的海外市場不斷增加的需求； 3、18%或約492.0百萬港元將用于潛在戰略投資及╱或收購； 4、10%或約273.4百萬港元將用于營運資金及一般企業用途。
Underwriting Syndicate
Joint Sponsors (2)
中信建投（国际）融资有限公司 CE BAU112 招商证券（香港）有限公司 CE AAI650
Sponsor cum Overall Coordinator (2)
中信建投（国际）融资有限公司 CE BAU112 招商证券（香港）有限公司 CE AAI650
Overall Coordinators (2)
中信建投（国际）融资有限公司 CE BAU112 招商证券（香港）有限公司 CE AAI650
Joint Global Coordinators (3)
中信建投（国际）融资有限公司 CE BAU112 招商证券（香港）有限公司 CE AAI650 山证国际证券有限公司 CE BEM330
Joint Bookrunners (6)
中信建投（国际）融资有限公司 CE BAU112 招商证券（香港）有限公司 CE AAI650 山证国际证券有限公司 CE BEM330 星展亚洲融资有限公司 CE AAE430 富途证券国际（香港）有限公司 CE AZT137 老虎证券（香港）环球有限公司 CE BMU940
Joint Lead Managers (6)
中信建投（国际）融资有限公司 CE BAU112 招商证券（香港）有限公司 CE AAI650 山证国际证券有限公司 CE BEM330 星展亚洲融资有限公司 CE AAE430 富途证券国际（香港）有限公司 CE AZT137 老虎证券（香港）环球有限公司 CE BMU940
Capital Market Intermediaries (6)
中信建投（国际）融资有限公司 CE BAU112 招商证券（香港）有限公司 CE AAI650 山证国际证券有限公司 CE BEM330 星展亚洲融资有限公司 CE AAE430 富途证券国际（香港）有限公司 CE AZT137 老虎证券（香港）环球有限公司 CE BMU940
Service Providers
RoleInstitution
Legal Advisor to Company 美迈斯律师事务所
广东信达律师事务所
恒元联合法律事务所
霍金路伟律师行
Legal Advisor to Sponsors/Underwriters 天元律师事务所（有限法律责任合伙）
北京金诚同达（深圳）律师事务所
Auditor and Reporting Accountant 大华马施云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 嘉林资本有限公司 CE BBX925
Receiving Banks 招商永隆银行有限公司
中信银行（国际）有限公司
Cornerstone Investors
#Investor NameInvestment AmountShares Subscribed% of Offer Shares% of Total SharesLock-up PeriodEst. Unlock Date
1 高时发展有限公司 — — — — 6 months 2026-08-13
2 雾凇资本有限公司 — — — — 6 months 2026-08-13
3 华泰资本投资及华泰证券股份有限公司 — — — — 6 months 2026-08-13
4 惠州国合由惠州产业及惠州市惠城区投资管理有限公司 — — — — 6 months 2026-08-13
5 股份有限公司 — — — — 6 months 2026-08-13
Directors & Management
Chairman周和平
Company Secretary邱微女士
執行董事 (5)
#NameEnglish NameType
1 周和平 — 執行董事
2 易华蓉 — 執行董事
3 刘占理 — 執行董事
4 夏春亮 — 執行董事
5 邓艶 — 執行董事
非執行董事 (1)
#NameEnglish NameType
1 李文友 — 非執行董事
獨立非執行董事 (3)
#NameEnglish NameType
1 曾凡跃 — 獨立非執行董事
2 代冰洁 — 獨立非執行董事
3 王栋 — 獨立非執行董事
Major Shareholders
Major Shareholders & Holdings周先生直接持有139,563,801股A股，並通過通怡基金持有50,000,000股A股，合計189,563,801股A股，佔緊隨全球發售完成後已發行股份總數的13.54%（投票權13.64%）。易華蓉女士（周先生配偶）被視為擁有相同權益。邱麗敏女士直接持有8,772,371股A股，並通過多個私募基金持有107,263,456股A股，合計116,035,827股A股，佔緊隨全球發售完成後已發行股份總數的8.29%（投票權8.35%）。
AI AI Analysis
!
The following content is generated by an AI model based on historical IPO data. It does NOT constitute investment advice, solicitation, or recommendation. Past subscription patterns and post-listing performance do not guarantee future results. Data may contain inaccuracies — always verify against official HKEX filings and prospectuses before making any investment decision.

Market Sentiment

The IPO of 沃尔核材 attracted extraordinary retail demand, with an oversubscription ratio of 569.58x, reflecting intense market enthusiasm for this industrial manufacturing stock. Despite the massive oversubscription, the overall hit rate is currently reported as 0%, likely due to data lag or incomplete allocation reporting. The final offer price was HK$20.09, but no price range data is available to assess pricing dynamics. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Tier Analysis

A clear tier inefficiency appears between the last A-tier (甲尾) and first B-tier (乙头). Applicants at 甲尾 (200,000 lots applied) are expected to receive only 0.2362 lots on average, while 乙头 applicants (300,000 lots) see a jump to 0.8053 expected lots, a more than threefold increase for a 50% larger subscription. This makes 甲尾 highly cost-inefficient given similar or higher broker fees per lot—though actual broker fees vary and must be verified. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Demographics

Demographic data for this IPO is currently unavailable or unreported, with holder count and regional breakdowns showing zero values. Typically, Mainland China participation is a key indicator of speculative interest, but no conclusions can be drawn here. The absence of data may be due to reporting delays or data source limitations. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

AI-generated content. For informational purposes only. Not financial advice. Verify against official sources.
Offering Structure
Subscription Tiers
IPO Timeline
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