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1
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “Stock Exchange ”)
and Hong Kong Securities Clearing Company Limited ( “HKSCC ”) take no responsibility for the contents of this
announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability
whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States
(including its territories and possessions, any state of the United States and the District of Columbia). This
announcement does not, and is not intended to, constitute or form a part of any offer or solicitation to purchase or
subscribe for securities in the United States or in any other jurisdiction. The Offer Shares have not been and will not
be registered under the United States Securities Act of 1933, as amended from time to time (the “U.S. Securities
Act”) or securities law of any state or other jurisdiction of the United States and may not be offered, sold, pledged or
otherwise transferred within the United States, except in transactions exempt from, or not subject to, the registration
requirements of the U.S. Securities Act and in compliance with any applicable state securities laws. The Offer Shares
are being offered and sold solely outside the United States in offshore transactions in reliance on Regulation S under
the U.S. Securities Act and applicable laws of each jurisdiction where those offers and sales occur. There will be no
public offer of the Offer Shares in the United States.
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase
or subscribe for securities. This announcement is not a prospectus. Potential investors should read the prospectus dated
December 12, 2025 (the “Prospectus ”) issued by BenQ BM Holding Cayman Corp. (ʮ̡ ) (the
“Company ”) for detailed information about the Global Offering described below before deciding whether or not to
invest in the Offer Shares thereby being offered. The Company has not been and will not be registered under the U.S.
Investment Company Act of 1940, as amended.
Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those
defined in the Prospectus.
Potential investors of the Offer Shares should note that the Joint Sponsors and Overall Coordinators (for themselves
and on behalf of the Hong Kong Underwriters) shall be entitled to terminate their obligations under the Hong Kong
Underwriting Agreement with immediate effect upon the occurrence of any of the events set out in the paragraph
headed “Underwriting – Underwriting Arrangements and Expenses – Hong Kong Public Offering – Grounds for
termination ” in the Prospectus at any time prior to 8:00 a.m. (Hong Kong time) on the Listing Date (which is currently
expected to be on Monday, December 22, 2025).


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2
BenQ BM Holding Cayman Corp.
ʮ̡
(A company incorporated in the Cayman Islands with limited liability)
GLOBAL OFFERING
Number of Offer Shares under the
Global Offering
: 67,000,000 Shares
Number of Hong Kong Offer Shares : 6,700,000 Shares
Number of International Offer Shares : 60,300,000 Shares
Final Offer Price : HK$9.34 per Offer Share plus brokerage
 of 1%, SFC transaction levy of 0.0027%,
 AFRC transaction levy of 0.00015% and
 Stock Exchange trading fee of 0.00565%
Nominal value : US$1.00 per Share
Stock code : 2581
Joint Sponsors, Overall Coordinators, Joint Global Coordinators,
Joint Bookrunners and Joint Lead Managers
Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager
Joint Bookrunners and Joint Lead Managers


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BENQ BM HOLDING CAYMAN CORP.
ʮ̡
ANNOUNCEMENT OF FINAL OFFER PRICE AND ALLOTMENT RESULTS
Unless otherwise defined herein, capitalized terms used in this announcement shall have the same
meanings as those defined in the prospectus dated December 12, 2025 (the “Prospectus ”) issued
by BenQ BM Holding Cayman Corp. (the “Company ”).
Warning: In view of high concentration of shareholding in a small number of Shareholders,
Shareholders and prospective investors should be aware that the price of the Shares could move
substantially even with a small number of Shares traded and should exercise extreme caution when
dealing in the Shares.
SUMMARY
Company information
Stock code 2581
Stock short name BENQ HOLDING
Dealings commencement date December 22, 2025*
* See note at the end of this announcement
Price Information
Offer Price Range HK$9.34 – HK$11.68
Final Offer Price HK$9.34
Offer Shares and Share Capital
Number of Offer Shares 67,000,000
Final Number of Offer Shares in Hong Kong Public Offering 6,700,000
Final Number of Offer Shares in International Offering 60,300,000
Number of issued shares upon Listing 311,945,001
Over-allocation
No. of Offer Shares over-allocated –
Proceeds
Gross proceeds (Note) HK$625.8 million
 Less:  Estimated listing expenses payable based on Final
 Offer Price HK$71.2 million
Net proceeds HK$554.5 million
Note: Gross proceeds refers to the amount to which the Company is entitled to receive. For details of the use of
proceeds, please refer to the section headed “Future Plans and Use of Proceeds ” of the Prospectus.


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ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING
No. of valid applications 9,291
No. of successful applications 5,353
Subscription level 6.28 times
Claw-back triggered N/A
No. of Offer Shares initially available under the Hong Kong
 Public Offering
6,700,000
Final no. of Offer Shares under the Hong Kong Public
 Offering
6,700,000
% of Offer Shares under the Hong Kong Public Offering to
 the Global Offering
10%
Note: For details of the final allocation of shares to the Hong Kong Public Offering, investors can refer to www.eipo.
com.hk/eIPOAllotment to perform a search by identification number or www.eipo.com.hk/eIPOAllotment for
the full list of allottees.
INTERNATIONAL OFFERING
No. of placees 40
Subscription Level 1.28 times
No. of Offer Shares initially available under the
 International Offering
60,300,000
Final no. of Offer Shares under the International Offering 60,300,000
% of Offer Shares under the International Offering to
 the Global Offering
90%
The Directors confirm that, to the best of their knowledge, information and belief, (i) none of the
Offer Shares subscribed by the placees and the public have been financed directly or indirectly
by the Company, any of the Directors, chief executive of the Company, Controlling Shareholders,
substantial Shareholders, existing Shareholders or any of its subsidiaries or their respective close
associates; and (ii) none of the placees and the public who have purchased the Offer Shares are
accustomed to taking instructions from the Company, any of the Directors, chief executive of the
Company, Controlling Shareholders, substantial Shareholders, existing Shareholders or any of its
subsidiaries or their respective close associates in relation to the acquisition, disposal, voting or
other disposition of Shares registered in his/her/its name or otherwise held by him/her/it.


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5
The placees in the International Offering include the following:
Cornerstone Investors
Investor Note 1
No. of Offer
Shares
allocated
% of Offer
Shares
% of total issued
share capital
after the Global
Offering
Existing
shareholders
or their close
associates
Heron Neutron Medical Corp.
 (ʮ̡ )
 ( “Heron Neutron Medical ”) 25,001,500 37.32% 8.01% No
Cowealth Medical China Co., Ltd.
 ( Υబ(ʕ਷)΅
 ʮ̡ ) (“Cowealth (China) ”) 6,600,500 9.85% 2.12% No
Suzhou Zhanxingtou Industrial Fund
 Partnership (Limited Partnership)
 (ږ
 ΥྫΆุ (Υྫ ))
 ( “Suzhou Zhanxingtou ”) 1,650,000 2.46% 0.53% No
Total 33,252,000 49.63% 10.66%
Note:
(1) For further details of the Cornerstone Investors, please refer to the section headed “Cornerstone Investors ” in
the Prospectus.


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LOCK-UP UNDERTAKINGS
Controlling Shareholders
Name
Number
of Shares
held in the
Company
subject to
lock-up
undertakings
upon Listing
% of
shareholding in
the Company
subject to
lock-up
undertakings
upon Listing
Last day
subject to the lock-up
undertakings
Qisda Corporation
 (΅
 ʮ̡ ) (“Qisda
 Corporation ”) Note 1
232,736,837 74.61% June 21, 2026 (First Six-
Month Period) Note 2
December 21, 2026
(Second Six-Month
Period) Note 3
BenQ Corp. (ਿཥஷ
 ʮ̡ )
 ( “BenQ Corp. ”) Note 1
85,023,956 27.26% June 21, 2026 (First Six-
Month Period) Note 2
December 21, 2026
(Second Six-Month
Period)Note 3
Darly2 Venture ,  Inc.
 (΅
 ʮ̡ ) (“Darly2
 Venture ”) Note 1
65,023,956 20.84% June 21, 2026 (First Six-
Month Period) Note 2
December 21, 2026
(Second Six-Month
Period) Note 3
Darly Venture Inc.
 (΅
 ʮ̡ ) (“Darly
 Venture ”) Note 1
25,000,000 8.01% June 21, 2026 (First Six-
Month Period) Note 2
December 21, 2026
(Second Six-Month
Period) Note 3
Darly Venture (L)
 Ltd ( “Darly Venture
 (L)”) Note 1
14,157,800 4.54% June 21, 2026 (First Six-
Month Period) Note 2
December 21, 2026
(Second Six-Month
Period) Note 3
Total 232,736,837 74.61%


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Notes:
(1) Darly2 Venture is wholly owned by BenQ Corp., and each of BenQ Corp., Darly Venture and Darly Venture
(L) is wholly owned by Qisda Corporation. By virtue of the SFO, BenQ Corp. is deemed to be interested in the
Shares held by Darly2 Venture, and Qisda Corporation is deemed to be interested in the Shares held by BenQ
Corp., Darly Venture, Darly Venture (L) and Darly2 Venture.
(2) In accordance with the relevant Listing Rule/guidance materials, the required lock-up for the first six-month
period ends on June 21, 2026. A Controlling Shareholder may dispose of or transfer Shares after the indicated
date provided that such Controlling Shareholder will not cease to be a Controlling Shareholder.
(3) In accordance with the relevant Listing Rule/guidance materials, the required lock-up for the second six-month
period ends on December 21, 2026. A Controlling Shareholder will cease to be prohibited from disposing of or
transferring Shares after the indicated date.
Cornerstone Investors
Name  Note 1
Number of Shares
held in the Company
subject to lock-up
undertakings upon
Listing
% of shareholding
in the Company
subject to lock-up
undertakings upon
Listing
Last day subject
to the lock-up
undertakings  Note 2
Heron Neutron
 Medical 25,001,500 8.01% June 21, 2026
Cowealth (China) 6,600,500 2.12% June 21, 2026
Suzhou Zhanxingtou 1,650,000 0.53% June 21, 2026
Total 33,252,000 10.66%
Notes:
(1) For further details of the Cornerstone Investors, please refer to the section headed “Cornerstone Investors ” in
the Prospectus.
(2) In accordance with the relevant cornerstone investment agreements, the required lock-up ends on June 21,
2026. The Cornerstone Investors will cease to be prohibited from disposing of or transferring Shares after the
indicated date.


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PLACEE CONCENTRATION ANALYSIS
Placees*
Number of
Shares allotted
Allotment as %
of International
Offering
Allotment as %
of total
Offer Shares
Number of
Shares held
upon Listing
% of total
issued share
capital upon
Listing
Top 1 25,001,500 41.46% 37.32% 25,001,500 8.01%
Top 5 40,356,000 66.93% 60.23% 40,356,000 12.94%
Top 10 48,302,000 80.10% 72.09% 48,302,000 15.48%
Top 25 60,125,000 99.71% 89.74% 60,125,000 19.27%
Note:
* Ranking of placees is based on the number of Shares allotted to the placees.
SHAREHOLDER CONCENTRATION ANALYSIS
Shareholders*
Number of
Shares allotted
Allotment as %
of International
Offering
Allotment as %
 of total
Offer Shares
Number of
Shares held
upon Listing
% of total
issued share
capital upon
Listing
Top 1 0 0.00% 0.00% 232,736,837 74.61%
Top 5 35,311,000 58.56% 52.70% 273,305,885 87.61%
Top 10 45,337,000 75.19% 67.67% 283,331,885 90.83%
Top 25 59,096,000 98.00% 88.20% 298,590,885 95.72%
Note:
* Ranking of Shareholders is based on the number of Shares held by the Shareholder upon Listing.


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BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the Prospectus, a total of 9,291 valid
applications made by the public will be conditionally allocated on the basis set out below:
NO. OF
SHARES
APPLIED FOR
NO. OF
VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED
OF THE TOTAL
NO. OF
SHARES
APPLIED FOR
POOL A
500 6,679 3,340 out of 6,679 to receive 500 Shares 50.01%
1,000 792 428 out of 792 to receive 500 Shares 27.02%
1,500 241 138 out of 241 to receive 500 Shares 19.09%
2,000 211 135 out of 211 to receive 500 Shares 16.00%
2,500 146 110 out of 146 to receive 500 Shares 15.07%
3,000 104 87 out of 104 to receive 500 Shares 13.94%
3,500 34 31 out of 34 to receive 500 Shares 13.03%
4,000 122 500 Shares 12.50%
4,500 37 500 Shares plus 3 out of 37 to receive additional 500 Shares 12.01%
5,000 332 500 Shares plus 50 out of 332 to receive additional 500 Shares 11.51%
6,000 40 500 Shares plus 14 out of 40 to receive additional 500 Shares 11.25%
7,000 24 500 Shares plus 13 out of 24 to receive additional 500 Shares 11.01%
8,000 28 500 Shares plus 19 out of 28 to receive additional 500 Shares 10.49%
9,000 48 500 Shares plus 41 out of 48 to receive additional 500 Shares 10.30%
10,000 146 1,000 Shares 10.00%
15,000 54 1,000 Shares plus 18 out of 54 to receive additional 500 Shares 7.78%
20,000 35 1,000 Shares plus 23 out of 35 to receive additional 500 Shares 6.64%
25,000 32 1,500 Shares 6.00%
30,000 28 1,500 Shares plus 10 out of 28 to receive additional 500 Shares 5.60%
35,000 11 1,500 Shares plus 7 out of 11 to receive additional 500 Shares 5.19%
40,000 11 2,000 Shares 5.00%
45,000 9 2,000 Shares plus 3 out of 9 to receive additional 500 Shares 4.81%
50,000 25 2,000 Shares plus 15 out of 25 to receive additional 500 Shares 4.60%
60,000 12 2,500 Shares 4.17%
70,000 7 2,500 Shares plus 4 out of 7 to receive additional 500 Shares 3.98%
80,000 6 3,000 Shares 3.75%
90,000 6 3,000 Shares plus 3 out of 6 to receive additional 500 Shares 3.61%
100,000 39 3,500 Shares 3.50%
200,000 8 6,500 Shares 3.25%
300,000 5 9,500 Shares 3.17%
400,000 3 12,500 Shares 3.13%
9,275 Total number of Pool A successful applicants: 5,337


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NO. OF
SHARES
APPLIED FOR
NO. OF
VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED
OF THE TOTAL
NO. OF
SHARES
APPLIED FOR
POOL B
500,000 9 109,000 Shares 21.80%
700,000 1 152,500 Shares 21.79%
900,000 1 195,500 Shares 21.72%
1,000,000 1 217,000 Shares 21.70%
1,500,000 2 324,500 Shares 21.63%
2,000,000 1 432,000 Shares 21.60%
3,350,000 1 723,000 Shares 21.58%
16 Total number of Pool B successful applicants: 16
As of the date of this announcement, the relevant subscription monies previously deposited in the
designated nominee accounts have been remitted back to the accounts of all HKSCC participants.
Investors should contact their relevant brokers for any inquiries.
COMPLIANCE WITH LISTING RULES AND GUIDANCE
The Directors confirm that, except for the Listing Rules that have been waived and/or in respect of
which consent has been obtained, the Company has complied with the Listing Rules and guidance
materials in relation to the placing, allotment and listing of the Company ’s Shares.
The Directors confirm that, to the best of their knowledge, no rebate has been, directly or
indirectly, provided by the Company, the Controlling Shareholders, Directors or syndicate members
to any placees or the public (as the case may be) and the consideration payable by them for each
Offer Share subscribed for or purchased by them is the same as the final Offer Price determined
by the Company, in addition to any brokerage, AFRC transaction levy, SFC transaction levy and
Stock Exchange trading fee payable.


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DISCLAIMERS
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the
“Stock Exchange ”) and Hong Kong Securities Clearing Company Limited ( “HKSCC ”) take no
responsibility for the contents of this announcement, make no representation as to its accuracy
or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising
from or in reliance upon the whole or any part of the contents of this announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into
the United States (including its territories and possessions, any state of the United States and
the District of Columbia). This announcement does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities in the United States. The securities mentioned
herein have not been, and will not be, registered under the U.S. Securities Act. The Offer Shares
have not been and will not be registered under the U.S. Securities Act or any state securities
laws of the United States and may not be offered or sold within or to the United States, or for
the account or benefit of U.S. persons (as defined in Regulation S) except in transactions exempt
from, or not subject to, the registration requirements of the U.S. Securities Act.
The Offer Shares are being offered and sold outside the United States in offshore transactions
in reliance on Regulation S under the U.S. Securities Act. There will be no public offer of
securities in the United States.
This announcement is for information purposes only and does not constitute an invitation or
offer to acquire, purchase or subscribe for securities. This announcement is not a prospectus.
Potential investors should read the Prospectus dated December 12, 2025 issued by BenQ BM
Holding Cayman Corp. for detailed information about the Global Offering described herein
before deciding whether or not to invest in the Shares being offered.
* Potential investors of the Offer Shares should note that the Overall Coordinators (for
themselves and on behalf of the Hong Kong Underwriters) shall be entitled to terminate their
obligations under the Hong Kong Underwriting Agreement with immediate effect upon the
occurrence of any of the events set out in the paragraph headed “Underwriting – Underwriting
Arrangements and Expenses – Hong Kong Public Offering – Grounds for termination ” in the
Prospectus at any time prior to 8:00 a.m. (Hong Kong time) on the Listing Date (which is
currently expected to be on Monday, December 22, 2025).
PUBLIC FLOAT AND FREE FLOAT
Immediately following the completion of the Global Offering (assuming the options granted under
the Pre-IPO Share Option Plan are not exercised), 78,438,164 Shares, representing approximately
25.14% of the total issued share capital, are counted towards the public float for the purpose
of Rule 8.08(1) of the Listing Rules, which is higher than the prescribed percentage of Shares
required to be held in public hands of 25% under Rule 8.08(1) of the Listing Rules, thereby
satisfying Rule 8.08(1) of the Listing Rules at the time of the Listing.
Each of the Cornerstone Investors has agreed to a lock-up period of six months following the
Listing Date. As such, Shares held by the Cornerstone Investors upon the Listing shall not be
counted towards the free float of the Shares of the Company at the time of Listing. Based on the
final Offer Price of HK$9.34 per Offer Share, the Company satisfies the free float requirement
under Rule 8.08A(1) of the Listing Rules.


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The Directors confirm that, immediately following completion of the Global Offering, (i) no placee
will, individually, be placed more than 10% of the enlarged issued share capital of the Company
immediately after the Global Offering; (ii) there will not be any new substantial Shareholder
immediately after the Global Offering; (iii) the three largest public shareholders of the Company
do not hold more than 50% of the shares in public hands at the time of the Listing in compliance
with Rules 8.08(3) and 8.24 of the Listing Rules; and (iv) there will be at least 300 Shareholders at
the time of the Listing in compliance with Rule 8.08(2) of the Listing Rules.
COMMENCEMENT OF DEALINGS
The Share certificates will only become valid evidence of title at 8:00 a.m. (Hong Kong time) on
Monday, December 22, 2025, provided that the Global Offering has become unconditional and the
right of termination described in the section headed “Underwriting – Underwriting Arrangements
and Expenses – Hong Kong Public Offering – Grounds for termination ” in the Prospectus has not
been exercised. Investors who trade the Shares prior to the receipt of Share certificates or prior to
the Share certificates becoming valid evidence of title do so entirely at their own risk.
Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. (Hong Kong time)
on Monday, December 22, 2025, it is expected that dealings in the Shares on the Stock Exchange
will commence at 9:00 a.m. on Monday, December 22, 2025. The Shares will be traded in board
lots of 500 Shares each. The stock code of the Shares is 2581.
By order of the Board
BenQ BM Holding Cayman Corp.
HSIAO Tze-Jung
Executive Director
Hong Kong, December 19, 2025
As of the date of this announcement, Directors and proposed Directors of the Company comprise:
(i) Mr. HSIAO Tze-Jung as an executive Director; (ii) Mr. CHEN Chi-Hong, Ms. HUNG Chiu-
Chin and Dr. WANG Liming as non-executive Directors; and (iii) Dr. CHOW Hsing-Yi, Mr.
WANG Wen-Tsung and Mr. CHEN Ray-Jade as proposed independent non-executive Directors.
