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MOKINGRAN JEWELLERY GROUP CO., LTD. /
夢金園黃金珠寶集團股份有限公司
ANNOUNCEMENT OF FINAL OFFER PRICE AND ALLOTMENT RESULTS

Unless otherwise defined herein, capitalised terms used in this announcement shall have the
same meanings as those defined in the prospectus dated November 21, 2024 (the “Prospectus”)
issued by MOKINGRAN JEWELLERY GROUP CO., LTD. (the “Company”).


Warning: In view of high concentration of shareholding in a small number of H
Shareholders, H Shareholders and prospective investors should be aware that the
concentration of H Shareholders may affect the liquidity of the H Shares. Consequently,
H Shareholders and potential investors are advised to exercise caution when dealing in
the H Shares.
SUMMARY

Company Information
Stock Code 2585
Stock Short Name MOKINGRAN
Dealings commencement date November 29, 2024*
* see note at the end of the announcement

Price Information
Final Offer Price HK$12.00
Offer Price Range HK$12.00 - HK$14.40
Offer Price Adjustment exercised N/A

Offer Shares and Share Capital
Number of Offer Shares 43,956,800
Number of Offer Shares in  Hong Kong
Public Offering (after reallocation)
8,791,400
Number of Offer Shares in International
Offering (after reallocation)
35,165,400
Number of issued shares upon Listing  273,023,466

Over-allocation
No. of Offer Shares over-allocated -
Note: There has been no over-allocation of Offer Shares in the Placing. Therefore, the
Over-allotment Option will not be exercised and will lapse upon Listing.


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Proceeds
Gross proceeds (Note) HK$527.48 million
Less: Estimated listing expenses
payable based on Final Offer
Price
HK$(74.99) million
Net Proceeds HK$452.49 million
Note: Gross proceeds refers to the amount to which the issuer is entitled to receive. For
details of the use of proceeds, please refer to the Prospectus dated November 21, 2024.

ALLOTMENT RESULTS DETAILS

HONG KONG PUBLIC OFFERING


No. of valid applications 8,591
No. of successful applications 3,718
Subscription level 20.58 times
No. of Offer Shares initially available under the Hong Kong Public
Offering
4,395,800
No. of Offer Shares reallocated from the International Offering 4,395,600
Final no. of Offer Shares under the Hong Kong Public Offering (after
reallocation)
8,791,400
% of Offer Shares under the Hong Kong Public Offering to the Global
Offering (after reallocation)
20%
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 name or identification
number or www.eipo.com.hk/eIPOAllotment for the full list of allottees.

INTERNATIONAL OFFERING


No. of placees 112
Subscription level 0.98 times
No. of Offer Shares initially available under the International Offering 39,561,000
No. of Offer Shares reallocated to the Hong Kong Public Offering  4,395,600
Final no. of Offer Shares under the International Offer ing (after
reallocation)
35,165,400
% of Offer Shares under the International Offer ing to the Global
Offering (after reallocation)
80%


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The Directors confirm that, to the best of their knowledge, information and belief, save for a
waiver from strict compliance with Rule 10.04 of the Listing Rules and a consent under
paragraph 5(2) of Appendix F1 to the Listing Rules (the “Placing Guidelines”) granted by the
Stock Exchange to permit the Company to allocate certain Offer Shares in the International
Offering to a close associate of an existing shareholder as a Cornerstone Investor, (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, supervisors, chief executive, controlling
shareholders, substantial shareholders, other existing shareholders of the Company 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, supervisors, chi ef executive,  controlling shareholders,  substantial
shareholders, other existing shareholders of the Company or any of its subsidiaries or their
respective close associates.

The placees in the International Offering include the following:

Cornerstone Investors

Investor No. of Offer
Shares
allocated
% of Offer
Shares
% of total
issued H
Shares after
the Global
Offering
% of total
issued share
capital after
the Global
Offering
Existing
shareholders
or their
close
associates
Tianjin
Haitai
Capital
6,473,600 14.73% 9.48% 2.37% Yes Note
Matrix
Capital (on
behalf of
Matrix
Income SP)
3,565,600 8.11% 5.22% 1.31% No
Solid
Elegance
2,392,400 5.44% 3.50% 0.88% No
Bright
Ambition
3,542,600 8.06% 5.19% 1.30% No
Swift Grace 1,505,800 3.43% 2.21% 0.55% No
Total 17,480,000 39.77% 25.61% 6.40%
Note: Tianjin Haitai Capital is the immediate holding company of Tianjin Haikai Xinchuang,
an existing Shareholder of the Company, which holds approximately 4.37% of the equity
interest in the Company as of the Latest Practicable Date and will hold 3.66% shareholding
interest immediately after the Global Offering.


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Allottee with waivers/consents obtained

Investor No. of Offer
Shares
allocated
% of Offer
Shares
% of total
issued H
Shares
after the
Global
Offering
% of total
issued
share
capital
after the
Global
Offering
Relationship
Allottees with waiver from strict compliance with Rule 10.04 of the Listing Rules and
consent under paragraph 5(2) of the Placing Guidelines in relation to subscription for H
Shares by a close associate of the existing shareholder as cornerstone investor Note
Tianjin
Haitai
Capital
6,473,600 14.73% 9.48% 2.37% The immediate
holding company of
Tianjin Haikai
Xinchuang, an
existing Shareholder
of the Company
Note: The Company has applied for, and the Exchange has granted, a waiver from strict
compliance with Rule 10.04 of the Listing Rules and a consent under Paragraph 5(2) of the
Placing Guidelines. Please refer to the “Waivers From Strict Compliance With The Listing
Rules” section in the Prospectus and the section headed “Others/ Additional Information –
Placing to a close associate of the existing shareholder as cornerstone investor with a waiver
from the strict compliance  with Rule 10.04 of the Listing Rules and a prior consent under
paragraph 5(2) of the Placing Guidelines” in this announcement for further details.


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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 total
issued H
Shares after
the Global
Offering
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
Wang
Zhongshan
64,760,000
Domestic Shares
- 23.72% November 28,
2025
Zhang Xiuqin 60,000,000
Domestic Shares
- 21.98% November 28,
2025
Tianjin
Yuanjinmeng
40,000,000
Domestic Shares
- 14.65% November 28,
2025
Jinmeng
Partnership
22,000,000
Domestic Shares
- 8.06% November 28,
2025
Jinyuan
Partnership
9,000,000
Domestic Shares
- 3.30% November 28,
2025
Jinlong
Partnership
9,000,000
Domestic Shares
- 3.30% November 28,
2025
Subtotal 204,760,000  75.00%
The lock-up period shown in the table above is  the requirement under the PRC Company
Law. The lock -up requirement under the PRC Company Law is longer than the lock -up
period required of controlling shareholders under Rule 10.07 of the Listing Rules.


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Pre-IPO Investors

Name Number of shares
held in the
Company subject to
lock-up
undertakings upon
listing
% of total
issued H
Shares after
the Global
Offering
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
Huang Yi / 黃
怡
3,500,000 H Shares 5.13% 1.28% November 28,
2025
Tianjin Haikai
Xinchuang /天
津海開信創產
業發展有限公
司
10,000,000 H Shares 14.65% 3.66% November 28,
2025
Zhang Yizhen /
張義貞
2,300,000 H Shares 3.37% 0.84% November 28,
2025
Zhang Jianjun
/ 張建軍
340,000 H Shares 0.50% 0.12% November 28,
2025
Zhao Duxue  /
趙篤學
4,000,000 H Shares 5.86% 1.47% November 28,
2025
CITIC
Securities
Investment /
中信証券投資
有限公司
4,166,666 H Shares 6.10% 1.53% November 28,
2025
Subtotal 24,306,666 H Shares 35.61% 8.90%
The lock-up period shown in the table above  in respect of the H Shares  is the requirement
under the PRC Company Law.


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Cornerstone Investors

Name Number of shares
held in the Company
subject to lock-up
undertakings upon
listing Note
% of total
issued H
Shares after
the Global
Offering
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
Tianjin Haitai
Capital
6,473,600 H Shares 9.48% 2.37% May 28, 2025
Matrix Capital
(on behalf of
Matrix
Income SP)
3,565,600 H Shares 5.22% 1.31% May 28, 2025
Solid
Elegance
2,392,400 H Shares 3.50% 0.88% May 28, 2025
Bright
Ambition
3,542,600 H Shares 5.19% 1.30% May 28, 2025
Swift Grace 1,505,800 H Shares 2.21% 0.55% May 28, 2025
Subtotal 17,480,000 H Shares 25.61% 6.40% May 28, 2025
The expiry date of the lock -up period shown in the table above is pursuant to the relevant
Cornerstone Investment Agreement.


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PLACEE CONCENTRATION ANALYSIS

Placees
Number of H
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 6,600,000 18.77% 15.01% 6,600,000 2.42%
Top 5 22,574,200 64.19% 51.36% 32,574,200 11.93%
Top 10 31,929,600 90.80% 72.64% 41,929,600 15.36%
Top 25 35,128,800  99.90% 79.92% 45,128,800  16.53%

Note
* Ranking of placees is based on the number of H Shares allotted to the placees.

H SHAREHOLDERS CONCENTRATION ANALYSIS

H
Shareholders*
Number of
H Shares
allotted

Allotment as
% of
International
Offering
Allotment
as % of
total
Offer
Shares
Number of
H Shares
held upon
Listing

% of total issued H Shares
capital upon Listing
Number of Shares held upon
Listing

 Top 1 6,473,600  18.41% 14.73% 16,473,600   24.13%  16,473,600
 Top 5 16,639,200  47.32% 37.85% 34,805,866   50.99%  34,805,866
 Top 10 24,866,200  70.71% 56.57% 48,832,866   71.54% 48,832,866
 Top 25 36,955,000  105.09% # 84.07% 61,261,666   89.74% 61,261,666

Note
* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders
upon Listing.

# More than 100% as some H Shareholders are allotted with H Shares through the Hong Kong
Public Offering.


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SHAREHOLDER CONCENTRATION ANALYSIS

Shareho
lders
Number of H
 Shares allott
ed

Allotment as
% of
International
Offering
Allotment as
% of total
Offer Shares
Number of H
Shares held
upon Listing
Number of Shares held
upon Listing
% of total issued share
capital upon Listing
Top 1 - 0.00% 0.00% - 204,760,000  75.00%
Top 5 13,073,600 37.18% 29.74% 31,240,266  236,000,266  86.44%
Top 10 22,574,200 64.19% 51.36% 46,540,866 251,300,866  92.04%
Top 25 36,802,400  104.66%# 83.72% 61,109,066  265,869,066  97.38%

Note
* Ranking of Shareholders is based on the number of Shares (of all classes) held by the
Shareholder upon Listing.

# More than 100% as some Shareholders are allotted with H Shares through the Hong Kong
Public Offering.


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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, 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
200 2,910 223 out of 2,910 to
receive 200 Shares 7.66%
400 660 101 out of 660 to
receive 200 Shares 7.65%
600 1,134 259 out of 1,134 to
receive 200 Shares 7.61%
800 250 76 out of 250 to receive
200 Shares 7.60%
1,000 471 177 out of 471 to
receive 200 Shares 7.52%
1,200 98 44 out of 98 to receive
200 Shares 7.48%
1,400 123 64 out of 123 to receive
200 Shares 7.43%
1,600 69 41 out of 69 to receive
200 Shares 7.43%
1,800 54 36 out of 54 to receive
200 Shares 7.41%
2,000 449 324 out of 449 to
receive 200 Shares 7.22%
3,000 484
200 Shares plus 39 out
of 484 to receive
additional 200 Shares
7.20%
4,000 221
200 Shares plus 97 out
of 221 to receive
additional 200 Shares
7.19%
5,000 97
200 Shares plus 77 out
of 97 to receive
additional 200 Shares
7.18%
6,000 215
400 Shares plus 32 out
of 215 to receive
additional 200 Shares
7.16%
7,000 97 400 Shares plus 49 out
of 97 to receive 7.16%


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additional 200 Shares
8,000 82
400 Shares plus 71 out
of 82 to receive
additional 200 Shares
7.16%
9,000 28
600 Shares plus 6 out of
28 to receive additional
200 Shares
7.14%
10,000 363
600 Shares plus 205 out
of 363 to receive
additional 200 Shares
7.13%
20,000 249
1,400 Shares plus 29
out of 249 to receive
additional 200 Shares
7.12%
30,000 83
2,000 Shares plus 56
out of 83 to receive
additional 200 Shares
7.12%
40,000 106
2,800 Shares plus 25
out of 106 to receive
additional 200 Shares
7.12%
50,000 54
3,400 Shares plus 42
out of 54 to receive
additional 200 Shares
7.11%
60,000 36
4,200 Shares plus 12
out of 36 to receive
additional 200 Shares
7.11%
70,000 30
4,800 Shares plus 27
out of 30 to receive
additional 200 Shares
7.11%
80,000 21
5,600 Shares plus 9 out
of 21 to receive
additional 200 Shares
7.11%
90,000 7 6,400 Shares 7.11%
100,000 92
7,000 Shares plus 48
out of 92 to receive
additional 200 Shares
7.10%
200,000 25 14,200 Shares 7.10%
300,000 45
21,200 Shares plus 19
out of 45 to receive
additional 200 Shares
7.09%
 8,553
Total number of Pool A
successful applicants:
3,680


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POOL B
400,000 17
61,000 Shares plus 7
out of 17 to receive
additional 200 Shares
15.27%
500,000 6
76,200 Shares plus 5
out of 6 to receive
additional 200 Shares
15.27%
600,000 3 91,600 Shares 15.27%
900,000 1 137,400 Shares 15.27%
1,000,000 5
152,400 Shares plus 3
out of 5 to receive
additional 200 Shares
15.25%
1,250,000 1 190,600 Shares 15.25%
1,500,000 1 228,200 Shares 15.21%
2,000,000 1 304,000 Shares 15.20%
2,197,800 3 333,800 Shares 15.19%
 38
Total number of Pool B
successful applicants:
38


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, the consideration paid by the placees
or the public (as the case may be) directly or indirectly for each Offer Share subscribed for or
purchased by them was the same as the final Offer Price in addition to any brokerage, AFRC
transaction levy, SFC transaction levy and trading fee payable.


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OTHERS / ADDITIONAL INFORMATION
Placing to a close associate of the existing shareholder as cornerstone investor with a
waiver from the strict compliance with Rule 10.04 of the Listing Rules and a prior consent
under paragraph 5(2) of the Placing Guidelines

Our Company has applied to the Stock Exchange, and the Stock Exchange has granted, a
waiver from the strict compliance with Rule 10.04 of the Listing Rules and a consent under
paragraph 5(2) of Appendix FI of the Listing Rules to permit our Company to allow Tianjin
Haitai Capital to participate in the Global Offering as a cornerstone investor  through its
wholly owned subsidiary, HiTai (Hong Kong)Limited. The allocation of Offer Shares to such
close associate of Tianjin Haikai Xinchuang, our existing Shareholder is in compliance with
all the conditions under the waiver/consent granted by the Stock Exchange, including but
not limited to (i) Tianjin Haikai Xinchuang is interested in less than 5% of the voting rights
of the Company  before the Global Offering, and (ii) each of Tianjin Haikai Xinchuang,
Tianjin Haitai Capital and HiTai (Hong Kong) Limited (a wholly owned subsidiary of Tianjin
Haitai Capital) is not  a core connected person (as defined in the Listing Rules) of the
Company or a close associate of a core connected person before the Listing.

For details of the allocations of Offer Shares to a close associate of the existing shareholder
as cornerstone investor, please refer to the section headed “ ALLOTMENT RESULTS
DETAILS – INTERNATIONAL OFFERING – Allottee with waivers/consents obtained” in
this announcement.

Reallocation

As the International Offer Shares have been  undersubscribed and the Hong Kong Offer
Shares have been  oversubscribed, the Sponsor -Overall Coordinator has exerc ised its
discretion to reallocate 4,395,600 Offer Shares from the International Offering to Hong
Kong Public Offering.

The number of Offer Shares initially available under the Hong Kong Public Offering was
4,395,800 H Shares, representing approximately 10% of the total number of Offer Shares
initially available under the Global Offering. As a result of such reallocation, t he final
number of Offer Shares under the Hong Kong Public Offering is adjusted to 8,791,400 H
Shares, representing approximately 20% of Offer Shares initially available under the Global
Offering, compliant with the requirement under chapter 4.14 of the Guide for New Listing
Applicants.


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PUBLIC FLOAT

Immediately after the completion of the Global Offering, 68,263,466 H Shares, representing
approximately 25.00% of the issued share capital of our Company will count towards the public
float, satisfying the minimum percentage prescribed by Rule 8.08 of the Listing Rules.

The Directors confirm that, immediately following completion of the Global Offering: (i) at
least 25% of the total number of issued Shares will be held by the public, in compl iance with
Rule 8.08(1) of the Listing Rules; (ii) the H Shares will be held by at least 300 Shareholders at
the time of Listing, in compliance with Rule 8.08(2) of the Listing Rules; (iii) the three largest
public Shareholders will not hold more than 50% of the Shares held in public hands at the time
of Listing,  in compliance with Rule 8.08(3) of the Listing Rules; (iv) no placee will,
individually, be placed more than 10% of the enlarged issued share capital of the Company
immediately after the Global  Offering; and (v) there will not be any new substantial
Shareholder (as defined in the Listing Rules) of the Company.

COMMENCEMENT OF DEALINGS

H Share certificates will only become valid evidence of title at 8:00 a.m. on Friday, November
29, 2024 (Hong Kong time), provided that the Global Offering has become unconditional and
the right of termination described in the section headed “Underwriting” in the Prospectus has
not been exercised. Investors who trade H Shares prior to the receipt of H Share certificates or
the H 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. in Hong Kong
on Friday, November 29, 2024, it is expected that dealings in the H Shares on the Hong Kong
Stock Exchange will commence at 9:00 a.m. on Friday, November 29, 2024. The H Shares will
be traded in board lots of 200 H Shares each and the stock code of the H Shares will be 2585.

By order of the Board
MOKINGRAN JEWELLERY GROUP
CO., LTD.
夢金園黃金珠寶集團股份有限公司
Wang Zhongshan
Chairman and Executive Director


Hong Kong, November 28, 2024

As at the date of this announcement, the Board of Directors comprises (i) Mr. Wang Zhongshan,
Ms. Zhang Xiuqin, Ms. Jiang Liying and Mr. Wang Zegang as executive Directors; and (ii) Mr.
Wang Gongyong, Mr. Sha Nali, Mr. Huang Fangliang and Mr. Bai Xianyue as independent
non-executive Directors.


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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 does not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of Offer Shares in any jurisdiction in which such offer, solicitation
or sales would be unlawful. 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  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 transferred within the United States,
except in transactions exempt from, or not subject to, the registration requirements of the
U.S. Securities Act. The Company has not intended and does not intend to make any public
offer of securities in the United States.
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.
This announcement is for information purposes only and does not constitute an offer or an
invitation to induce an offer to acquire, purchase or subscribe for any securities of the
Company. This announcement is not a prospectus. Potential investors should read the
Prospectus for detailed information about the Company and the Global Offering desc ribed
below before deciding whether or not to invest in the Offer Shares. Any investment decision
in relation to the Offer Shares should be taken solely in reliance on the information provided
in the Prospectus.
* Potential investors of the Offer Shares s hould note that the S ponsor-Overall Coordinator
(for itself and on behalf of the Hong Kong Underwriters) can, in its sole and absolute
discretion, terminate the Hong Kong Underwriting Agreement with immediate effect upon
the occurrence of any of the events  set out in the section headed “Underwriting –
Underwriting Arrangements  and Expenses  – Hong Kong Public Offering – Hong Kong
Underwriting Agreement - 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
November 29, 2024)
