diff --git a/.codex/skills/archivist/SKILL.md b/.codex/skills/archivist/SKILL.md
index 03c78f9..a6e6006 100644
--- a/.codex/skills/archivist/SKILL.md
+++ b/.codex/skills/archivist/SKILL.md
@@ -151,6 +151,18 @@ The extractor is incremental: unchanged PDFs with matching manifest rows are ski
Do not expect `data/extracted_text/` entries for Yahoo JSON market data or HKEX `.htm`/`.html` notices. Those are already text-like raw evidence files and are tracked under `data/raw/`.
+## T1 Demand Text Backfill
+
+When audit finds T1 rows where an allotment-results source is archived but `ipo_demand` is missing, use the text backfill script:
+
+```bash
+.venv/bin/python scripts/backfill_t1_demand_from_text.py --as-of YYYY-MM-DDTHH:MM:SSZ
+```
+
+The script is incremental. It selects only `T1_allotment` rows that are complete from source evidence but have no `ipo_demand` row. It parses archived PDF extracted text, follows old HKEX HTML allotment-result pages to their linked Summary PDFs, archives those PDFs, extracts their text, writes `ipo_demand`, exports snapshots, and refreshes sync state only when facts or sources changed.
+
+Do not infer missing demand fields. If a Summary PDF gives valid applications and public subscription but omits successful applicants or international subscription level, store the available fields and leave unavailable fields null.
+
## Grey-Market Source Policy
`T2_grey_market` is not an HKEX official disclosure stage. Grey-market trading is broker or third-party OTC activity, so do not bulk archive a grey-market feed unless the source is reproducible and redistribution-safe.
diff --git a/README.md b/README.md
index 8008875..ee6dbea 100644
--- a/README.md
+++ b/README.md
@@ -123,6 +123,16 @@ The archiver maps stock codes to HKEXnews title-search stock IDs, downloads the
HKEX `.htm`/`.html` notices and Yahoo Finance JSON market data stay in `data/raw/`; they are not copied into `data/extracted_text/`.
+## T1 Demand Text Backfill
+
+Use the T1 demand text backfill after HKEX allotment-result sources have been archived and PDF text extraction is available:
+
+```bash
+.venv/bin/python scripts/backfill_t1_demand_from_text.py --as-of 2026-06-15T14:15:00Z
+```
+
+The backfill is incremental. It fills only `T1_allotment` rows that have an archived allotment-results source but no `ipo_demand` row. For old HKEX HTML allotment-result pages, it archives the linked Summary PDF, extracts text, records the new source, and stores only demand fields that are explicitly present.
+
## Price Performance Backfill
Use the price-performance archiver to fill due D1/D5/D20/D60 review checkpoints:
diff --git a/data/extracted_text/00664/allotment_results_2026-03-30_2026033003120.txt b/data/extracted_text/00664/allotment_results_2026-03-30_2026033003120.txt
new file mode 100644
index 0000000..02bb1a4
--- /dev/null
+++ b/data/extracted_text/00664/allotment_results_2026-03-30_2026033003120.txt
@@ -0,0 +1,1025 @@
+--- page 1 ---
+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 or distribution, directly or indirectly, in or into the United States
+or any other jurisdiction where such distribution is prohibited by law, nor is this announcement an offer for sale or
+solicitation to purchase or subscribe for securities in the United States or any other jurisdictions. 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 any applicable securities laws 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 Offer Shares are being offered
+and sold outside the United States in offshore transactions in accordance with 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 offering of the
+Offer Shares in the United States.
+Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those
+defined in the prospectus dated March 23, 2026 (the “Prospectus ”) issued by Hangzhou Tongshifu Cultural and
+Creative (Group) Co., Ltd. (௩˖௴ (ණྠ)ʮ̡ ) (the “Company ”).
+This announcement is for information purposes only and does not constitute an offer or an invitation to induce an offer
+by any person to acquire, purchase or subscribe for any of the securities of the Company. This announcement is not a
+prospectus. Potential investors should read the Prospectus for detailed information about the Global Offering described
+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.
+In connection with the Global Offering, CMB International Capital Limited (or its affiliates or any person acting for
+it), as the stabilizing manager (the “Stabilizing Manager ”), on behalf of the Underwriters, to the extent permitted by
+the applicable laws and regulatory requirements of Hong Kong or elsewhere, may over-allocate or effect transactions
+with a view to stabilizing or supporting the market price of the H Shares at such price, in such amounts and in such
+manners as the Stabilizing Manager, its affiliates or any person acting for it may determine and at a level higher than
+that which might otherwise prevail in the open market for a limited period after the Listing Date. However, there is
+no obligation on the Stabilizing Manager (or its affiliates or any person acting for it) to conduct any such stabilizing
+action. Such stabilizing actions, if taken, (a) will be conducted at the absolute discretion of the Stabilizing Manager
+(or its affiliates or any person acting for it) and in what the Stabilizing Manager (or its affiliates or any person acting
+for it) reasonably regards as the best interest of our Company, (b) may be discontinued at any time, and (c) is required
+to be brought to an end within 30 days of the last day for lodging applications under the Hong Kong Public Offering
+(which is Saturday, April 25, 2026). Such stabilization action, if taken, may be effected in all jurisdictions where it is
+permissible to do so, in each case in compliance with all applicable laws, rules and regulatory requirements, including
+the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong), as amended, made
+under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
+Potential investors should be aware that no stabilizing action can be taken to support the price of the H Shares for
+longer than the stabilization period, which will begin on the Listing Date, and is expected to expire on the 30th day
+after the last day for lodging applications under the Hong Kong Public Offering (which is Saturday, April 25, 2026).
+After this date, when no further stabilizing action may be taken, demand for the H Shares, and therefore the price of
+the H Shares, could fall.
+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 Tuesday, March 31, 2026).
+
+
+--- page 2 ---
+2
+HANGZHOU TONGSHIFU CULTURAL
+AND CREATIVE (GROUP) CO., LTD.
+ʮ̡
+(A joint stock company incorporated in the People ’s Republic of China with limited liability)
+GLOBAL OFFERING
+Number of Offer Shares under
+the Global Offering
+: 7,406,800 H Shares
+Number of Hong Kong Offer Shares : 1,111,000 H Shares (after reallocation)
+Number of International Offer Shares : 6,295,800 H Shares (after reallocation)
+Final Offer Price : HK$60.00 per H Share, plus brokerage of
+ 1.0%, SFC transaction levy of 0.0027%,
+ Stock Exchange trading fee of 0.00565%
+ and the AFRC transaction levy of
+ 0.00015%
+Nominal value : RMB1.00 per H Share
+Stock code : 0664
+Sole Sponsor, Sole Sponsor-Overall Coordinator, Joint Global Coordinator,
+Joint Bookrunner and Joint Lead Manager
+Overall Coordinator, Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager
+Joint Bookrunners and Joint Lead Managers
+
+
+--- page 3 ---
+3
+HANGZHOU TONGSHIFU CULTURAL
+AND CREATIVE (GROUP) CO., LTD.
+ʮ̡
+ANNOUNCEMENT OF FINAL OFFER PRICE
+AND ALLOTMENT RESULTS
+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 H Shares
+could move substantially even with a small number of H Shares traded and should exercise
+extreme caution when dealing in the H Shares.
+SUMMARY
+Company information
+Stock code 0664
+Stock short name TONGSHIFU
+Dealings commencement date March 31, 2026*
+* See note at the end of this announcement
+Price Information
+Final Offer Price HK$60.00
+Offer Price Range HK$60.00 -
+HK$68.00
+Offer Shares and Share Capital*
+Number of Offer Shares 7,406,800
+Final Number of Offer Shares in Hong Kong Public Offering
+ (after reallocation) 1,111,000
+Final Number of Offer Shares in International Offering
+ (after reallocation) 6,295,800
+Number of issued Shares upon Listing 64,406,800
+
+
+--- page 4 ---
+4
+Over-allocation
+No. of Offer Shares over-allocated 0
+Note: There has been no over-allocation of Offer Shares in the International Offering. Therefore, the Over-allotment
+Option will not be exercised.
+Proceeds
+Gross proceeds (Note) HK$444.41 million
+Less: Estimated listing expenses payable based on Offer Price HK$54.25 million
+Net proceeds HK$390.16 million
+Note: Gross proceeds refers to the amount 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.
+ALLOTMENT RESULTS DETAILS
+HONG KONG PUBLIC OFFERING
+No. of valid applications 26,280
+No. of successful applications 3,004
+Subscription level 59.55 times
+No. of Offer Shares initially available under the
+ Hong Kong Public Offering 740,700
+No. of Offer Shares reallocated from the International Offering 370,300
+Final no. of Offer Shares under the Hong Kong Public Offering
+ (after reallocation) 1,111,000
+% of Offer Shares under the Hong Kong Public Offering
+ to the Global Offering 15.00%
+Note: For details of the final allocation of Offer Shares to the Hong Kong Public Offering, investors
+can refer http://www.eipo.com.hk/eIPOAllotment to perform a search by identification number or
+http://www.eipo.com.hk/eIPOAllotment for the full list of allottees.
+
+
+--- page 5 ---
+5
+INTERNATIONAL OFFERING
+No. of placees 43
+Subscription level 1.56 times
+No. of Offer Shares initially available
+ under the International Offering 6,666,100
+No. of Offer Shares reallocated to the Hong Kong Public Offering 370,300
+Final no. of Offer Shares under the International Offering
+ (after reallocation) 6,295,800
+% of Offer Shares under the International Offering
+ to the Global Offering 85.00%
+The Directors confirm that, to the best of their knowledge, information and belief, save for (a) a
+consent under paragraph 1C(1) of Appendix F1 to the Listing Rules (the “Placing Guidelines ”)
+and Chapter 4.15 of the Guide for New Listing Applicants granted by the Stock Exchange to
+permit the Company to allocate certain Offer Shares to a connected client and (b) a consent under
+paragraph 1C(2) of the Placing Guidelines granted by the Stock Exchange to permit the Company
+to allocate certain Offer Shares to a close associate of an existing Shareholder, (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, the substantial shareholders,
+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, chief executive of the Company,
+substantial shareholders, existing shareholders of the Company or any of its subsidiaries or their
+respective close associates in relation to the acquisition, disposal, voting or other disposition of H
+Shares registered in his/her/its name or otherwise held by him/her/it.
+The placees in the International Offering include the following:
+Cornerstone Investor
+Investor
+No. of
+Offer Shares
+allocated
+% of
+Offer Shares
+% of
+total issued
+share capital
+after the
+Global
+Offering
+Existing
+shareholders
+or their close
+associates
+Jiantou International (Hong Kong) Co.,
+Limited ( “Jiantou International ” or the
+“Cornerstone Investor ”)
+500,000 6.75% 0.78% No
+
+
+--- page 6 ---
+6
+Allottees with Waivers/Consents Obtained
+Investor
+No. of Offer
+Shares allocated % of Offer Shares
+% of total issued
+share capital after
+the Global
+Offering Note 3 Relationship
+Allottees with consent under paragraph 1C(2) of the Placing Guidelines in relation to allocations to a close associate of an existing
+Shareholder Note 1
+Wang Wenzhong (׀ )
+“( Mr. Wang ”) Note 2
+1,543,600 20.84% 2.40% A placee and a
+ close associate of
+ an existing
+ Shareholder
+Allottee with consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide for New Listing Applicants
+in relation to allocations to a connected client Note 1
+CITIC Securities
+ International Capital
+ Management Limited
+100,000 1.35% 0.16% A connected
+ client of CLSA
+ Limited
+ ( “CLSA”)
+Notes:
+1. For details of the consent under (i) paragraph 1C(2) of the Placing Guidelines in relation to allocations to a close associate of an existing Shareholder, and (ii)
+paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide for New Listing Applicants in relation to allocations to a connected client, please
+refer to the section headed “Others/Additional Information ” in this announcement.
+2. Mr. Wang is a close associate of Beijing Hezhong Venture Capital Equity Investment Center (Limited Partnership), which is an existing Shareholder.
+LOCK-UP UNDERTAKINGS
+Directors
+Name
+Number of
+Shares held in
+the Company
+subject to lock-up
+undertakings upon
+Listing
+Number of H
+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 Note
+Yu Guang (Έ) 14,971,100 14,971,100 27.06% 26.04% March 30, 2027
+Xiao Feng (ࢤ1,067,715 1,067,715 1.93% 1.86% March 30, 2027
+He Yun ( Оㄴ) 360,713 360,713 0.65% 0.63% March 30, 2027
+Luo Renxiang
+ ( ᖯʠୂ)
+288,571 288,571 0.52% 0.50% March 30, 2027
+Note:
+Pursuant to the applicable PRC law, the lock-up for Directors ends on March 30, 2027, being 12 months from the Listing Date.
+
+
+--- page 7 ---
+7
+Other Existing Shareholders (including the Pre-IPO Investors as defined in the section
+headed “History, Development and Corporate Structure ” of the Prospectus)
+Name
+Number of
+Shares held in
+the Company
+subject to
+lock-up
+undertakings
+upon Listing
+Number of H
+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 Note 2
+Shunwei Ventures III (Hong Kong)
+Limited
+7,631,981 7,631,981 13.80% 13.27% March 30, 2027
+Tianjin Jinmi Investment
+Partnership (Limited Partnership)
+5,451,418 5,451,418 9.85% 9.48% March 30, 2027
+Beijing GX Equity Investment Fund
+Partnership Enterprise (Limited
+Partnership)
+3,453,413 3,453,413 6.24% 6.01% March 30, 2027
+Euro Master Limited 2,678,093 2,678,093 4.84% 4.66% March 30, 2027
+Guozhong Private Equity
+Investment Fund (Xi ’an)
+Partnership (Limited Partnership)
+2,158,766 2,158,766 3.90% 3.75% March 30, 2027
+Beijing Hezhong Venture Capital
+Equity Investment Center
+(Limited Partnership) ( “Beijing
+Hezhong ”
+2,008,599 – 3.63% 3.49% March 30, 2027
+CMG Media Convergence Industry
+Investment Fund (Limited
+Partnership)
+1,781,250 1,781,250 3.22% 3.10% March 30, 2027
+Gongqingcheng Jinda Equity
+Investment Partnership (Limited
+Partnership)
+1,744,459 1,744,459 3.15% 3.03% March 30, 2027
+Luo Wenjuan (ࢇ1,616,002 1,616,002 2.92% 2.81% March 30, 2027
+Changxing Jinyuan Hanfei
+Investment Management Center
+(Limited Partnership)
+1,414,004 1,414,004 2.56% 2.46% March 30, 2027
+Qiu Dekang ( ᅃੰ) 1,154,287 1,154,287 2.09% 2.01% March 30, 2027
+
+
+--- page 8 ---
+8
+Name
+Number of
+Shares held in
+the Company
+subject to
+lock-up
+undertakings
+upon Listing
+Number of H
+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 Note 2
+Qingdao Yunzhi Investment
+Management Partnership (Limited
+Partnership)
+1,096,577 1,096,577 1.98% 1.91% March 30, 2027
+Guangdong Bay Area No. 1 Digital
+Cultural Industry Investment
+Partnership (Limited Partnership)
+712,500 712,500 1.29% 1.24% March 30, 2027
+Shenzhen Guolinfeng Asset
+Management Center (Limited
+Partnership)
+621,875 621,875 1.12% 1.08% March 30, 2027
+Ruan Zhuoer ( Ԥՙဧ) 519,434 519,434 0.94% 0.90% March 30, 2027
+Yang Ke ( เൾ) 490,571 490,571 0.89% 0.85% March 30, 2027
+Zhao Lei ( Ⴛᆾ) 481.817 481.817 0.87% 0.84% March 30, 2027
+Lv Lihan ( ѐͭጫ) 447,285 447,285 0.81% 0.78% March 30, 2027
+Zhang Lei ( ੵᆾ) 431,071 431,071 0.78% 0.75% March 30, 2027
+Ningbo Meishan Bonded Port Area
+Fosun Weiying Equity Investment
+Fund Partnership (Limited
+Partnership)
+298,737 298,737 0.54% 0.52% March 30, 2027
+Li Wanqiang ( ኇຬ੶) 288,571 288,571 0.52% 0.50% March 30, 2027
+Ding Pengfei (࠭288,571 288,571 0.52% 0.50% March 30, 2027
+Changxing Jinyuan Zhecheng
+Investment Management
+Partnership (Limited Partnership)
+240,475 240,475 0.43% 0.42% March 30, 2027
+Chen Jingzhi (ٺ216,431 216,431 0.39% 0.38% March 30, 2027
+Yin Xuelong ( ँᎲ) 202,000 202,000 0.37% 0.35% March 30, 2027
+
+
+--- page 9 ---
+9
+Name
+Number of
+Shares held in
+the Company
+subject to
+lock-up
+undertakings
+upon Listing
+Number of H
+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 Note 2
+Zhang Jianmei (ૠ) 178,914 178,914 0.32% 0.31% March 30, 2027
+Shanghai Ruma Youhua Enterprise
+Management Partnership (Limited
+Partnership)
+171,000 – – 0.30% March 30, 2027
+Jin Zeguang (ዣᄿ) 144,283 144,283 0.26% 0.25% March 30, 2027
+Lv Hangjun (ࠏ144,282 144,282 0.26% 0.25% March 30, 2027
+Shentu Jiahui ( ͡ਜ਼Գ ) 144,282 144,282 0.26% 0.25% March 30, 2027
+Yang Junjie ( เം௫) 144,282 144,282 0.26% 0.25% March 30, 2027
+Jin Lihua (ᘆശ) 144,282 144,282 0.26% 0.25% March 30, 2027
+Zhang Weijiang ( ੵሊϪ) 144,282 144,282 0.26% 0.25% March 30, 2027
+Qian Jiayang (ජ) 125,427 125,427 0.23% 0.22% March 30, 2027
+Yu Hong (҃) 124,089 124,089 0.22% 0.22% March 30, 2027
+Dong Shengfang (ٹ115,429 115,429 0.21% 0.20% March 30, 2027
+Huang Dongsheng (ʺ) 115,427 115,427 0.21% 0.20% March 30, 2027
+Ren Bingzhang () 109,658 109,658 0.20% 0.19% March 30, 2027
+Jin Hongwei (҃ਃ) 106,875 106,875 0.19% 0.19% March 30, 2027
+Zhou Chengfeng (ࠬ࠱95,227 95,227 0.17% 0.17% March 30, 2027
+Shi Ziming ( ̦ɿჼ) 92,342 92,342 0.17% 0.16% March 30, 2027
+An Hui ( τሾ) 92,342 92,342 0.17% 0.16% March 30, 2027
+Ren Liang (ڥ89,457 89,457 0.16% 0.16% March 30, 2027
+Wang Yuezhen (แ) 86,572 86,572 0.16% 0.15% March 30, 2027
+Lu Huahua ( ጅശശ) 86,572 86,572 0.16% 0.15% March 30, 2027
+Ding Yi ( ɕχ) 57,717 57,717 0.10% 0.10% March 30, 2027
+Hu Wenping (˖റ) 57,717 57,717 0.10% 0.10% March 30, 2027
+Zhang Jie ( ੵ௫) 57,717 57,717 0.10% 0.10% March 30, 2027
+Wang Qiuxia (ᒳ) 57,717 57,717 0.10% 0.10% March 30, 2027
+Liang Yu ( ◔) 35,625 35,625 0.06% 0.06% March 30, 2027
+
+
+--- page 10 ---
+10
+Name
+Number of
+Shares held in
+the Company
+subject to
+lock-up
+undertakings
+upon Listing
+Number of H
+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 Note 2
+Chen Lisheng ( ଣʺ) 35,625 35,625 0.06% 0.06% March 30, 2027
+Xu Danni (ʗ) 28,347 28,347 0.05% 0.05% March 30, 2027
+Huang Ningning ( රྐྵྐྵ) 14,431 14,431 0.03% 0.03% March 30, 2027
+Jia Jinfu (బ) 14,431 14,431 0.03% 0.03% March 30, 2027
+Cui Yushu ( ੦͗ബ) 11,546 11,546 0.02% 0.02% March 30, 2027
+Notes:
+1. The lock-up applies to the Shares held immediately prior to the completion of the Global Offering.
+2. Pursuant to the applicable PRC law, the lock-up for existing Shareholders ends on March 30, 2027, being 12
+months from the Listing Date.
+
+
+--- page 11 ---
+11
+Cornerstone Investor
+Name
+Number of
+Shares held in
+the Company
+subject to
+lock-up
+undertakings
+upon Listing
+Number of H
+Shares held in
+the Company
+subject to
+lock-up
+undertakings
+upon Listing
+% of total
+issued
+H Shares
+% of total
+issued Shares
+after the
+Global
+Offering upon
+Listing
+Last day
+subject to
+the lock-up
+undertakings Note
+Jiantou International 500,000 500,000 0.80% 0.78% September 30, 2026
+Note:
+In accordance with the cornerstone investment agreement, the required lock-up ends on September 30, 2026, being
+six months from and including the Listing Date. The Cornerstone Investor will cease to be prohibited from disposing
+of or transferring the H Shares subscribed for pursuant to the cornerstone investment agreement after the indicated
+date.
+
+
+--- page 12 ---
+12
+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 1,543,600 24.52% 20.84% 1,543,600 2.40%
+Top 5 3,486,600 55.38% 47.07% 3,486,600 5.41%
+Top 10 4,637,100 73.65% 62.61% 4,637,100 7.20%
+Top 25 6,042,900 95.98% 81.59% 6,042,900 9.38%
+Note:
+* Ranking of placees is based on the number of Offer Shares allotted to the placees.
+
+
+--- page 13 ---
+13
+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 0 0.00% 0.00% 14,971,100 24.06% 14,971,100
+Top 5 0 0.00% 0.00% 34,186,005 54.94% 34,186,005
+Top 10 1,543,600 24.52% 20.84% 43,030,082 69.15% 43,030,082
+Top 25 3,486,600 55.38% 47.07% 53,410,318 85.83% 53,410,318
+Note:
+* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
+SHAREHOLDER CONCENTRATION ANALYSIS
+Shareholders*
+Number
+of H Shares
+allotted
+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 0.00% 0.00% 14,971,100 14,971,100 23.24%
+Top 5 1,543,600 24.52% 20.84% 33,051,512 35,060,111 54.44%
+Top 10 1,543,600 24.52% 20.84% 43,030,082 45,038,681 69.93%
+Top 25 3,486,600 55.38% 47.07% 53,410,318 55,418,917 86.05%
+Note:
+* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholders upon
+Listing.
+
+
+--- page 14 ---
+14
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the Prospectus, a total of 26,280 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
+100 19,181 533 out of 19,181 to receive 100 Shares 2.78%
+200 1,423 79 out of 1,423 to receive 100 Shares 2.78%
+300 567 47 out of 567 to receive 100 Shares 2.76%
+400 267 29 out of 267 to receive 100 Shares 2.72%
+500 464 62 out of 464 to receive 100 Shares 2.67%
+600 205 32 out of 205 to receive 100 Shares 2.60%
+700 468 85 out of 468 to receive 100 Shares 2.59%
+800 154 31 out of 154 to receive 100 Shares 2.52%
+900 72 16 out of 72 to receive 100 Shares 2.47%
+1,000 1,228 290 out of 1,228 to receive 100 Shares 2.36%
+1,500 320 113 out of 320 to receive 100 Shares 2.35%
+2,000 238 112 out of 238 to receive 100 Shares 2.35%
+2,500 120 70 out of 120 to receive 100 Shares 2.33%
+3,000 160 112 out of 160 to receive 100 Shares 2.33%
+3,500 76 62 out of 76 to receive 100 Shares 2.33%
+4,000 79 73 out of 79 to receive 100 Shares 2.31%
+4,500 62 100 Shares plus 2 out of 62 to receive additional
+100 Shares
+2.29%
+5,000 163 100 Shares plus 23 out of 163 to receive additional
+100 Shares
+2.28%
+6,000 97 100 Shares plus 35 out of 97 to receive additional
+100 Shares
+2.27%
+7,000 76 100 Shares plus 44 out of 76 to receive additional
+100 Shares
+2.26%
+8,000 51 100 Shares plus 39 out of 51 to receive additional
+100 Shares
+2.21%
+9,000 35 100 Shares plus 34 out of 35 to receive additional
+100 Shares
+2.19%
+10,000 301 200 Shares plus 58 out of 301 to receive additional
+100 Shares
+2.19%
+20,000 132 400 Shares plus 51 out of 132 to receive additional
+100 Shares
+2.19%
+
+
+--- page 15 ---
+15
+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
+30,000 79 600 Shares plus 46 out of 79 to receive additional
+100 Shares
+2.19%
+40,000 36 800 Shares plus 28 out of 36 to receive additional
+100 Shares
+2.19%
+50,000 25 1,000 Shares plus 24 out of 25 to receive additional
+100 Shares
+2.19%
+60,000 19 1,300 Shares plus 2 out of 19 to receive additional
+100 Shares
+2.18%
+70,000 36 1,500 Shares plus 10 out of 36 to receive additional
+100 Shares
+2.18%
+26,134 Total number of Pool A successful applicants: 2,858
+POOL B
+80,000 69 2,200 Shares plus 28 out of 69 to receive additional
+100 Shares
+2.80%
+90,000 6 2,500 Shares plus 1 out of 6 to receive additional
+100 Shares
+2.80%
+100,000 18 2,800 Shares 2.80%
+120,000 8 3,300 Shares plus 5 out of 8 to receive additional
+100 Shares
+2.80%
+140,000 5 3,900 Shares plus 1 out of 5 to receive additional
+100 Shares
+2.80%
+160,000 8 4,400 Shares plus 7 out of 8 to receive additional
+100 Shares
+2.80%
+180,000 1 5,000 Shares 2.78%
+200,000 12 5,500 Shares plus 8 out of 12 to receive additional
+100 Shares
+2.78%
+250,000 3 6,900 Shares plus 1 out of 3 to receive additional
+100 Shares
+2.77%
+300,000 2 8,300 Shares 2.77%
+370,300 14 10,200 Shares plus 10 out of 14 to receive
+additional 100 Shares
+2.77%
+146 Total number of Pool B successful applicants: 146
+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.
+
+
+--- page 16 ---
+16
+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 H Shares.
+The Directors confirm that, to the best of their knowledge, no rebate has been, directly or
+indirectly, provided by the Company, its substantial shareholders, directors or syndicate members
+to any placees or the public (as the case may be) and 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 is the same as the Offer Price in addition to any brokerage, AFRC transaction levy, SFC
+transaction levy and Stock Exchange trading fee payable.
+OTHERS/ADDITIONAL INFORMATION
+Placing to a close associate of an existing Shareholder with prior consent under paragraph
+1C(2) of the Placing Guidelines
+Under the International Offering, certain Offer Shares were placed to a close associate of an
+existing Shareholder pursuant to the Placing Guidelines.
+The Company has applied to the Stock Exchange, and the Stock Exchange has granted, a consent
+under paragraph 1C(2) of the Placing Guidelines to permit the Company to allocate such Offer
+Shares in the International Offering to the close associate of the existing Shareholder. The
+allocation of Offer Shares to such close associate of the existing Shareholder is in compliance with
+all the conditions under the consent granted by the Stock Exchange as set out below:
+(a) the Company and the Overall Coordinators have confirmed that no preferential treatment has
+been, nor will be, given to Beijing Hezhong or Mr. Wang by virtue of their relationship with
+the Company in any allocation in the placing tranche of the Global Offering;
+(b) the Sole Sponsor has confirmed that to the best of its knowledge and belief, it has no reason
+to believe that Beijing Hezhong or Mr. Wang received any preferential treatment in any
+allocation in the placing tranche of the Global Offering by virtue of their relationship with
+the Company; and
+(c) the Sole Sponsor has confirmed that (i) Beijing Hezhong (a) has less than 5% voting rights
+in the Company immediately before the Global Offering; (b) is not, and, together with Mr.
+Wang, will not be, a core connected person of the Company or its close associate immediately
+prior to or following the Global Offering; and (c) does not have the power to appoint the
+Company ’s directors or any other special rights; (ii) allocation to Mr. Wang will not affect
+the Company ’s ability to satisfy the public float requirement under Rule 19A.13A(1) of the
+Listing Rules; and (iii) details of the allocation will be disclosed in this announcement.
+For details of the allocations of Offer Shares to the close associate of the existing Shareholder,
+please refer to the section headed “Allotment Results Details – International Offering – Allottees
+with Waivers/Consents Obtained ” in this announcement.
+
+
+--- page 17 ---
+17
+Placing to a connected client with prior consent under paragraph 1C(1) of the Placing
+Guidelines
+Under the International Offering, certain Offer Shares were placed to a connected client of its
+connected distributor pursuant to the Placing Guidelines.
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a
+consent under paragraph 1C(1) of the Placing Guidelines to permit the Company to allocate such
+Offer Shares in the International Offering to the connected client. The allocation of Offer Shares
+to such connected client is in compliance with all the conditions under the consent granted by the
+Stock Exchange as set out below:
+(a) each of the Overall Coordinators confirms that the Offer Shares allocated to CSICM will
+be held on behalf of independent third parties (as defined in Chapter 4.15 of Guide for New
+Listing Applicants);
+(b) details of the investment by CSICM and details of the allocation will be disclosed in this
+announcement;
+(c) each of the Company, CLSA (both as the connected distributor and an Overall Coordinator),
+the Sole Sponsor-Overall Coordinator and CSICM confirms that no preferential treatment has
+been, nor will be, given to CSICM by virtue of their relationship with CLSA in any allocation
+of Offer Shares in the International Offering; and
+(d) the Overall Coordinators provide the identities of ultimate beneficial owners of the securities,
+or where applicable, details of the structured products under which the subscription by
+CSICM was made in their confirmations.
+Details of the placement to the connected client are set out below:
+No.
+Connected
+Distributor
+Connected
+Client Relationship
+Whether the
+connected
+clients
+will hold the
+beneficial
+interests of
+the Offer
+Shares on
+a non –
+discretionary
+basis or
+discretionary
+basis for
+independent
+third parties
+Number of
+Offer
+Shares to
+be allocated
+to the
+Connected
+Client
+Approximate
+percentage
+of total
+number of
+Offer Shares
+under the
+Global
+Offering
+Approximate
+percentage
+of total
+issued share
+capital
+immediately
+following the
+completion
+of the
+Global
+Offering
+1. CLSA
+Limited
+(“CLSA”)
+CITIC Securities
+International
+Capital
+Management
+Limited
+(“CSICM”) Note
+CSICM is a member of the same group of companies as
+CLSA. CSICM is therefore considered as a connected
+client of CLSA pursuant to paragraph 1B(7) of
+Appendix F1 to the Listing Rules.
+Non-
+discretionary
+basis
+100,000 1.35% 0.16%
+
+
+--- page 18 ---
+18
+Notes:
+1. CSICM has subscribed for and will hold the Offer Shares as a placee under the International Offering on behalf
+of its ultimate client (the “CSICM Ultimate Client ”), on a non-discretionary basis, pursuant to which:
+(i) CSICM will act as the single counterparty of a back-to-back total return swap transaction (the “CSICM
+Back-to-back TRS ”) to be entered into by it in connection with a total return swap order (the “CSICM
+Client TRS ”) placed and fully funded by the CSICM Ultimate Client, by which CSICM will pass the full
+economic exposure of the Offer Shares placed to CSICM to the CSICM Ultimate Client.
+(ii) As confirmed by CSICM and CLSA, CSICM will hold the legal title and beneficial interest in the Offer
+Shares, but will contractually agree to pass on the full economic exposure and return of the Offer Shares
+to the CSICM Ultimate Client, on a non-discretionary basis. The CSICM Ultimate Client may exercise
+their early termination rights to terminate the CSICM Client TRS at any time from the trade date of the
+CSICM Client TRS which should be on or after the date on which the Offer Shares are listed on the Stock
+Exchange.
+(iii) Upon the final maturity or termination of the CSICM Client TRS by the CSICM Ultimate Client, CSICM
+will dispose of the Offer Shares on the secondary market and the CSICM Ultimate Client will receive
+a final termination amount of the CSICM Back-to-back TRS which will have taken into account all the
+economic returns or economic loss in relation to the Offer Shares and the fixed amount of transaction
+fees of the CSICM Back-to-back TRS and the CSICM Client TRS. Due to its internal policy, CSICM will
+not exercise the voting right of the Offer Shares during the terms of the CSICM Back-to-back TRS.
+(iv) CSICM is not a collective investment scheme which is not authorized by the SFC, nor is it expected to
+hold the Offer Shares on behalf of such scheme.
+2. To the best of the knowledge of CSICM and after making all reasonable enquiries, each of the shareholders
+or limited partners holding 30% or more interest in the CSICM Ultimate Client and its fund managers is an
+independent third party of the Company, its subsidiaries, its substantial shareholders, CSICM, CLSA and the
+companies which are members of the same group of CLSA.
+DISCLAIMERS
+Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and
+Hong Kong Securities Clearing Company Limited 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 United States Securities Act of 1933,
+as amended (the “U.S. Securities Act ”). The securities may not be offered or sold in the United
+States except pursuant to an exemption from the registration requirements of the U.S. Securities
+Act and in compliance with any applicable state securities laws, or outside the United States unless
+in compliance with Regulation S under the U.S. Securities Act. There will be no 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 and applicable laws of each jurisdiction
+where those offers and sales occur.
+
+
+--- page 19 ---
+19
+This announcement is for information purposes only and does not constitute an offer or an
+invitation to induce an offer by any person to acquire, purchase or subscribe for any of the
+securities of the Company. This announcement is not a prospectus. Potential investors should read
+the Prospectus for detailed information about the Global Offering described above before deciding
+whether or not to invest in the Offer Shares.
+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 for detailed information about the Global Offering described
+below before deciding whether or not to invest in the Offer Shares thereby 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
+Tuesday, March 31, 2026).
+PUBLIC FLOAT AND FREE FLOAT
+Immediately following the completion of the Global Offering (before any exercise of the Over-
+allotment Option), 37,546,402 H Shares, representing approximately 58.30% of the issued share
+capital of our Company will count towards the public float for the purpose of Rule 19A.13A(1)
+of the Listing Rules, which is higher than 25%, the minimum prescribed percentage of H Shares
+required to be held in public hands under Rule 19A.13A(1) of the Listing Rules applicable to the
+Company calculated based on the final Offer Price of HK$60.00 per Offer Share, thereby satisfying
+the public float requirement under Rule 19A.13A(1) of the Listing Rules.
+All existing shareholders of the Company are subject to a lock-up period of 12 months following
+the Listing Date pursuant to the applicable PRC law. The Cornerstone Investor has agreed
+to a lock-up period of six months following the Listing Date. As such, H Shares held by the
+Cornerstone Investor upon the Listing shall not be counted towards the free float of the H Shares
+of the Company at the time of Listing. Based on the final Offer Price of HK$60.00 per Offer
+Share, the Company satisfies the free float requirement under Rule 19A.13C(1)(a) of the Listing
+Rules.
+The Directors confirm that, immediately following the completion of the Global Offering (before
+any exercise of the Over-allotment Option), (i) no placee will, individually, be placed more than
+10% of the enlarged total 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 H 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.
+
+
+--- page 20 ---
+20
+COMMENCEMENT OF DEALINGS
+The H Share certificates will only become valid evidence of title at 8:00 a.m. (Hong Kong time)
+on Tuesday, March 31, 2026, 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 H Shares on the basis of publicly available allocation details
+prior to the receipt of H Share certificates or prior to 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. (Hong Kong time)
+on Tuesday, March 31, 2026, it is expected that dealings in the H Shares on the Stock Exchange
+will commence at 9:00 a.m. (Hong Kong time) on Tuesday, March 31, 2026. The H Shares will be
+traded in board lots of 100 H Shares each, and the stock code of the H Shares will be 0664.
+By order of the Board
+Hangzhou Tongshifu Cultural and Creative (Group) Co., Ltd.
+Yu Guang
+Chairman of the Board and Executive Director
+Hong Kong, March 30, 2026
+As of the date of this announcement, the Board comprises: (i) Mr. Yu Guang, Mr. Luo Renxiang,
+Mr. He Yun, Ms. Wang Xiaoxia and Mr. Chen Ruiguang as executive Directors; (ii) Mr. Xiao Feng
+as a non-executive Director; and (iii) Mr. Tu Bisheng, Dr. Huang Wenli and Mr. Fong Chun Fai as
+independent non-executive Directors.
diff --git a/data/extracted_text/01111/allotment_results_summary_2023-11-09_2023110900028.txt b/data/extracted_text/01111/allotment_results_summary_2023-11-09_2023110900028.txt
new file mode 100644
index 0000000..7c75c29
--- /dev/null
+++ b/data/extracted_text/01111/allotment_results_summary_2023-11-09_2023110900028.txt
@@ -0,0 +1,654 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND
+ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+• The final Offer Price has been determined at HK$1.04 per Offer Share (exclusive of
+brokerage of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of
+0.00565% and AFRC transaction levy of 0.00015%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$1.04 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and other estimated expenses paid and payable by the Company in relation
+to the Global Offering, are estimated to be approximately HK$72.1 million. The Company
+intends to use the net proceeds from the Global Offering in the manner as set out in the
+section headed “Net Proceeds from the Global Offering ” in this announcement.
+Applications and Indications of Interest Received in the Public Offer
+• The Public Offer Shares initially offered under the Public Offer have been significantly
+over-subscribed. A total of 5,017 valid applications have been received pursuant to
+the Public Offer through the HK eIPO White Form service and through the CCASS
+EIPO service for a total of 157,756,000 Public Offer Shares, representing approximately
+12.62 times of the total number of 12,500,000 Public Offer Shares initially available for
+subscription under the Public Offer.
+• As the over-subscription in the Public Offer represents less than 15 times the number of
+the Offer Shares initially available for subscription under the Public Offer, no reallocation
+procedure as disclosed in the section headed “Structure and Conditions of the Global
+Offering – The Public Offer – Reallocation ” in the Prospectus has been applied and no
+Offer Shares have been reallocated from the Placing to the Public Offer. The final number
+of Offer Shares under the Public Offer is 12,500,000 Shares, representing approximately
+10% of the total number of Offer Shares initially available under the Global Offering,
+and being allocated to 1,331 successful applicants under the Public Offer, 315 of which
+have been allocated one board lot of Shares totaling 1,260,000 Shares, representing
+approximately 10.08% of the total Offer Shares under the Public Offer.
+Placing
+• The Offer Shares initially offered under the Placing have been slightly over-subscribed,
+representing approximately 1.09 times of the total number of Offer Shares initially
+available under the Placing. The final number of Offer Shares under the Placing is
+112,500,000 Shares, representing approximately 90% of the total number of Offer Shares
+initially available under the Global Offering.
+• There are a total of 155 placees under the Placing, among which 83 placees, representing
+approximately 53.55% of the total number of placees under the Placing, have been
+allotted five or fewer board lots of Offer Shares, totalling 340,000 Shares, representing
+approximately 0.30% of the total number of the Offer Shares available under the Placing.
+A total of 81 placees have been allotted one board lot of Offer Shares, totaling 324,000
+Shares, representing approximately 0.29% of the total number of the Offer Shares available
+under the Placing.
+
+
+--- page 2 ---
+4
+Confirmations Regarding Public Shareholders in the Public Offer and Placees in the
+Placing
+• To the best knowledge, information and belief of the Directors, no Offer Shares placed
+by or through the Sole Overall Coordinator, the Joint Global Coordinators, the Joint
+Bookrunners, the Joint Lead Managers, or the Underwriters under the Global Offering
+have been placed with applicants or their respective ultimate beneficial owners who are
+core connected persons (as defined in the Listing Rules) of the Company or Directors
+of the Company, or to any connected clients (as set out in paragraph 5(1) of the Placing
+Guidelines), or persons set out in paragraph 5(2) of the Placing Guidelines, whether in their
+own names or through nominees. The Placing is in compliance with the Placing Guidelines.
+• The Directors confirm that, to the best of their knowledge, information and belief, (i) none
+of the Offer Shares subscribed by public Shareholders in the Public Offer and placees in
+the Placing has been financed directly or indirectly by the Company, any of the Directors,
+chief executive of the Company, the Controlling Shareholders, the substantial Shareholders,
+the existing Shareholders or any of their subsidiaries or their respective close associates;
+(ii) none of the public Shareholders in the Public Offer and placees in the Placing who has
+subscribed for the Offer Shares is accustomed to taking instructions from the Company,
+any of the Directors, chief executive of the Company, the Controlling Shareholders,
+the substantial Shareholders, the existing Shareholders or any of their subsidiaries or
+their respective close associates in relation to the acquisition, disposal, voting or other
+disposition of the Shares registered in their name or otherwise held by them; (iii) no rebate
+or other benefits has been or will be, directly or indirectly, provided by the Company, the
+Directors, chief executive of the Company, the Controlling Shareholders, the substantial
+Shareholders, the existing Shareholders or any of their subsidiaries, or their respective close
+associates, or syndicate members or any brokers or underwriters to any public Shareholders
+in the Public Offer or placees and their associates in the Placing; (iv) the consideration
+payable by the public Shareholders in the Public Offer and placees in the Placing for
+each Offer Share subscribed for or purchased by them is the same as the final Offer Price
+as determined by the Company, in addition to brokerage of 1.0%, SFC transaction levy
+of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
+0.00565%; and (v) there is no side agreement or arrangement between the Company, any of
+the Directors, chief executive of the Company, the Controlling Shareholders, the substantial
+Shareholders, the existing Shareholders or any of their subsidiaries or their respective close
+associates or syndicate members or any other brokers or underwriters, on one hand, and the
+public subscribers or the placee who has subscribed for the Offer Shares, on the other hand.
+
+
+--- page 3 ---
+5
+• None of the Sole Sponsor, the Sole Overall Coordinator, the Joint Global Coordinators,
+the Joint Bookrunners, the Joint Lead Managers, the Underwriters, and their respective
+affiliated companies and connected clients of the lead broker or of any distributors (as
+defined in the Placing Guidelines) has taken up any Offer Shares for its own benefit under
+the Global Offering.
+Lock-up Undertakings
+• Each of the Company and the Controlling Shareholders is subject to certain lock-
+up undertakings as set out in the section headed “Lock-up Undertakings ” in this
+announcement.
+Results of Allocations
+• The final Offer Price, the level of indications of interest in the Placing, the level
+of applications in the Public Offer and the basis of allocation of the Public Offer
+Shares will be published on Thursday, 9 November 2023 on the Company ’s
+website at www.youmeimu.com and the website of the Stock Exchange at
+www.hkexnews.hk .
+• The results of allocations of the Public Offer Shares and the Hong Kong identity card
+numbers, passport numbers, Hong Kong business registration numbers or certificate of
+incorporation numbers of successful applicants (under the Public Offer where applicable)
+will be available at the times and dates and in the manner set out below:
+(i) in the announcement to be posted on our Company ’s website and the website of the
+Stock Exchange at www.youmeimu.com and www.hkexnews.hk , respectively on
+Thursday, 9 November 2023;
+(ii) from the “IPO Results ” function in the IPO App and the designated results of
+allocations website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult
+with a “search by ID ” function on a 24-hour basis from 8:00 a.m. on Thursday, 9
+November 2023 to 12:00 midnight on Wednesday, 15 November 2023; and
+(iii) from the allocation results telephone enquiry line by calling +852 3691 8488 between
+9:00 a.m. and 6:00 p.m. from Thursday, 9 November 2023 to Tuesday, 14 November
+2023 (excluding Saturday, Sunday and public holiday in Hong Kong).
+
+
+--- page 4 ---
+6
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by HK
+eIPO White Form ” in this announcement refer to Hong Kong identity card numbers,
+passport numbers, Hong Kong business registration numbers, certificate of incorporation
+numbers, beneficial owner identification codes (if such applications are made by nominees
+as agent for the benefit of another person) whereas those displayed in the section headed
+“Results of Applications Made by Giving Electronic Application Instructions to HKSCC
+via CCASS ” in this announcement are provided by CCASS Participants via CCASS.
+Therefore, the identification document numbers shown in the two sections are different
+in nature. Please note that the list of identification document numbers set out in this
+announcement may not be a complete list of successful applicants since only successful
+applicants whose identification document numbers are provided to HKSCC by CCASS
+Participants or via the HK eIPO White Form service are disclosed. Applicants with
+beneficial names only but not identification document numbers are not disclosed due to
+personal privacy issue as elaborated below. Applicants who applied for the Public Offer
+Shares through their brokers or nominees can consult their brokers or nominees to enquire
+about their application results;
+• Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications Made
+by HK eIPO White Form ” and “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” are redacted and not all details of
+applications are disclosed in this announcement.
+Dispatch/Collection of Share Certificates/e-Auto Refund Payment Instructions/Refund
+Checks
+• Applicants who have applied for 1,000,000 Public Offer Shares or more through the HK
+eIPO White Form service and who have been wholly or partially successfully allocated
+Public Offer Shares, may collect Share certificate(s) (where applicable) in person from the
+Hong Kong Branch Share Registrar, Tricor Investor Services Limited, at 17/F, Far East
+Finance Centre, 16 Harcourt Road, Hong Kong, from 9:00 a.m. to 1:00 p.m. on Thursday, 9
+November 2023, or any other place or date notified by the Company as the date of dispatch
+or collection of Share certificates.
+• Applicants being individuals who are eligible for personal collection must not authorise any
+other person to collect on their behalf. Corporate applicants which are eligible for personal
+collection must attend by their authorised representative bearing letters of authorization
+from their corporations stamped with the corporations ’ chops. Both individuals and
+authorised representatives must produce, at the time of collection, evidence of identity
+acceptable to Tricor Investor Services Limited.
+• Share certificates for Public Offer Shares allotted to applicants who applied for less than
+1,000,000 Public Offer Shares through the HK eIPO White Form service are expected
+to be dispatched to those entitled to the addresses specified in the relevant application
+instructions by ordinary post at their own risk on or before Thursday, 9 November 2023.
+• Share certificates for Public Offer Shares allotted to applicants who applied through the
+HK eIPO White Form service which are either not available for personal collection or
+which are available but are not collected in person by 1:00 p.m. on Thursday, 9 November
+2023 are expected to be despatched by ordinary post to those entitled to the address
+specified in the relevant application at their own risk on or before Thursday, 9 November
+2023.
+
+
+--- page 5 ---
+7
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their Share certificates issued in the name of
+HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS Investor
+Participant stock accounts or the stock accounts of their designated CCASS Participants
+who gave electronic application instructions on their behalf on Thursday, 9 November
+2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Public Offer Shares allocated to them
+with that CCASS Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
+before 5:00 p.m. on Thursday, 9 November 2023, or such other date as shall be determined
+by HKSCC or HKSCC Nominees. Applicants who applied as a CCASS Investor Participant
+by giving electronic application instructions to HKSCC via CCASS may also check
+the results of their applications and the amount of refund monies payable to them via the
+CCASS Phone System and the CCASS Internet System (under the procedures contained
+in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time to
+time). Immediately after the crediting of the Public Offer Shares to the CCASS Investor
+Participants stock accounts and the credit of refund monies to the CCASS Investor
+Participants bank accounts, HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the number of Public Offer Shares credited to
+their stock accounts and the refund amount credited to their respective designated bank
+accounts (if any).
+• Applicants who applied through the HK eIPO White Form service and paid the
+application monies from a single bank account will have refund monies (if any) despatched
+to their application payment accounts in the form of e-Auto Refund payment instructions on
+Thursday, 9 November 2023. Applicants who applied through the HK eIPO White Form
+service and paid the application monies from multiple bank accounts will have refund
+monies (if any) despatched to the addresses specified in their application instructions in
+the form of refund check(s) in favour of the applicant (or, in the case of joint applications,
+the first-named applicant) by ordinary post at their own risk on or before Thursday, 9
+November 2023. No interest will be paid thereon.
+• Refund monies (if any) for applicants who have applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their brokers or custodians on
+Thursday, 9 November 2023.
+• Share certificates will only become valid at 8:00 a.m. on Friday, 10 November 2023
+(Hong Kong time), provided that the Global Offering has become unconditional in all
+respects at or before that time and the right of termination described in the section headed
+“Underwriting – Underwriting Arrangements and Expenses – Public Offer – Grounds for
+Termination ” in the Prospectus has not been exercised. Investors who trade Shares on
+the basis of publicly available allocation details before the receipt of share certificates or
+before the share certificates becoming evidence do so entirely at their own risk.
+
+
+--- page 6 ---
+8
+• The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+Public Float
+• Immediately following the completion of the Global Offering, approximately 25% of
+the total issued Shares will be held by the public, including Mr. Shen and Mr. Nie, in
+compliance with the requirements under Rule 8.08 of the Listing Rules.
+• The Directors confirm that immediately after the Global Offering, (i) at least 25% of the
+Company ’s enlarged issued share capital will be held by the public hands, including Mr.
+Shen and Mr. Nie, in compliance with Rule 8.08(1) of the Listing Rules; (ii) no placee will,
+individually, be placed more than 10% of the enlarged issued share capital of the Company;
+(iii) there will not be any new substantial shareholder (as defined in the Listing Rules) of
+the Company; (iv) the three largest public Shareholders will not hold more than 50% of the
+shares held in public hands at the time of the Listing in compliance with Rules 8.08(3) and
+8.24 of the Listing Rules; and (v) 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
+• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
+a.m. on Friday, 10 November 2023 (Hong Kong time), dealings in the Shares on the Stock
+Exchange will commence at 9:00 a.m. on Friday, 10 November 2023 (Hong Kong time).
+The Shares will be traded in board lots of 4,000 Shares each. The stock code of the Shares
+is 1111.
+In view of the 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 Shares.
+OFFER PRICE
+The Offer Price is HK$1.04 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction levy
+of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$1.04 per Offer Share, the net proceeds from the Global Offering
+to be received by the Company, after deduction of the underwriting fees and commissions and
+the other estimated expenses payable by the Company in connection with the Global Offering,
+are estimated to be approximately HK$72.1 million. The estimated total Listing expenses are
+approximately HK$57.9 million, or 44.5% of the gross proceeds of the Global Offering, comprising
+underwriting-related expenses of approximately HK$7.8 million, expenses of legal advisors and
+the Reporting Accountant of approximately HK$27.5 million, and other fees and expenses of
+approximately HK$22.6 million.
+
+
+--- page 7 ---
+9
+The Company intends to apply the net proceeds as follows:
+• approximately 30.7%, or HK$22.1 million, is expected to be used to strengthen our data
+analytical capabilities and further enhance our branding services, consisting of:
+(i) approximately 20.1%, or HK$14.5 million is expected to be used to establish our
+branding data platform and R&D database;
+(ii) approximately 9.7%, or HK$7.0 million, is expected to be used to acquire more
+comprehensive market and industry data; and
+(iii) approximately 0.9%, or HK$0.6 million, is expected to be used for recruitment of
+additional staff for our R&D department;
+• approximately 20.7%, or HK$14.9 million, is expected to be used to expand our online media
+advertising services, consisting of:
+(i) approximately 6.5%, or HK$4.7 million is expected to be used to enhance our online
+advertising platform; and
+(ii) approximately 14.2%, or HK$10.2 million, is expected to be used to develop our in-
+house content production capabilities;
+• approximately 26.6%, or HK$19.2 million, is expected to be used to expand the geographical
+reach of our services, consisting of:
+(i) approximately 13.3%, or HK$9.6 million is expected to be used to set up our Beijing
+office; and
+(ii) approximately 13.3%, or HK$9.6 million, is expected to be used to set up our Shanghai
+office;
+• approximately 13.5%, or HK$9.7 million, is expected to be used to improve our brand
+recognition and increase our marketing efforts; and
+• approximately 8.5%, or HK$6.2 million, is expected to be used for our working capital and
+general corporate purposes.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
+the Prospectus.
+
+
+--- page 8 ---
+10
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE PUBLIC
+OFFER
+The Public Offer Shares initially available under the Public Offer have been significantly over-
+subscribed. At the close of the application lists at 12:00 noon on Friday, 3 November 2023, a total
+of 5,017 valid applications have been received pursuant to the Public Offer through the HK eIPO
+White Form service and through the CCASS EIPO service for a total of 157,756,000 Public
+Offer Shares, representing approximately 12.62 times of the total number of 12,500,000 Public
+Offer Shares initially available for subscription under the Public Offer. Among the 5,017 valid
+applications received:
+• 5,010 valid applications in respect of a total of 121,756,000 Public Offer Shares were for the
+Public Offer with an aggregate subscription amount based on the maximum Offer Price of
+HK$1.04 per Offer Share (excluding brokerage of 1.0%, SFC transaction levy of 0.0027%,
+Stock Exchange trading fee of 0.00565% and AFRC transaction levy of 0.00015%) of HK$5
+million or less, representing approximately 19.47 times of the 6,252,000 Public Offer Shares
+initially comprised in Pool A; and
+• 7 valid applications in respect of a total of 36,000,000 Public Offer Shares were for the
+Public Offer with an aggregate subscription amount based on the maximum Offer Price of
+HK$1.04 per Offer Share (excluding brokerage of 1.0%, SFC transaction levy of 0.0027%,
+Stock Exchange trading fee of 0.00565% and AFRC transaction levy of 0.00015%) of more
+than HK$5 million, representing approximately 5.76 times of the 6,248,000 Public Offer
+Shares initially comprised in Pool B.
+No application has been rejected due to invalid application for the Public Offer. No multiple or
+suspected multiple applications have been identified and rejected. No application has been rejected
+due to dishonored payment. No single application for more than 6,248,000 Public Offer Shares
+(being approximately 50% of the Public Offer Shares initially available under the Public Offer) has
+been identified.
+As the over-subscription in the Public Offer represents less than 15 times the number of the Offer
+Shares initially available for subscription under the Public Offer, no reallocation procedure as
+disclosed in the section headed “Structure and Conditions of the Global Offering – The Public
+Offer – Reallocation ” in the Prospectus has been applied and no Offer Shares have been reallocated
+from the Placing to the Public Offer. The final number of Offer Shares under the Public Offer is
+12,500,000 Shares, representing approximately 10% of the total number of Offer Shares initially
+available under the Global Offering, and being allocated to 1,331 successful applicants under the
+Public Offer, 315 of which have been allocated one board lot of Shares totaling 1,260,000 Shares,
+representing approximately 10.08% of total Offer Shares under the Public Offer.
+The Offer Shares offered in the Public Offer were conditionally allocated on the basis set out in
+the section headed “Basis of Allocation under the Public Offer ” below.
+
+
+--- page 9 ---
+11
+PLACING
+The Offer Shares initially offered under the Placing have been slightly over-subscribed,
+representing approximately 1.09 times of the total number of Offer Shares initially available
+under the Placing. The final number of Offer Shares under the Placing is 112,500,000 Shares,
+representing approximately 90% of the total number of Offer Shares initially available under the
+Global Offering.
+There are a total of 155 placees under the Placing, among which 83 placees, representing
+approximately 53.55% of the total number of placees under the Placing, have been allotted five or
+fewer board lots of Offer Shares, totalling 340,000 Shares, representing approximately 0.30% of
+the total number of the Offer Shares available under the Placing. A total of 81 placees have been
+allotted one board lot of Offer Shares, totaling 324,000 Shares, representing approximately 0.29%
+of the total number of the Offer Shares available under the Placing.
+
+
+--- page 10 ---
+12
+Confirmations Regarding Public Shareholders in the Public Offer and Placees in the Placing
+To the best knowledge, information and belief of the Directors, no Offer Shares placed by or
+through the Sole Overall Coordinator, the Joint Global Coordinators, the Joint Bookrunners,
+the Joint Lead Managers, or the Underwriters under the Global Offering have been placed with
+applicants or their respective ultimate beneficial owners who are core connected persons (as
+defined in the Listing Rules) of the Company or Directors of the Company, or to any connected
+clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons set out in paragraph
+5(2) of the Placing Guidelines, whether in their own names or through nominees. The Placing is in
+compliance with the Placing Guidelines.
+The Directors confirm that, to the best of their knowledge, information and belief, (i) none of the
+Offer Shares subscribed by public Shareholders in the Public Offer and placees in the Placing has
+been financed directly or indirectly by the Company, any of the Directors, chief executive of the
+Company, the Controlling Shareholders, the substantial Shareholders, the existing Shareholders or
+any of their subsidiaries or their respective close associates; (ii) none of the public Shareholders in
+the Public Offer and placees in the Placing who has subscribed for the Offer Shares is accustomed
+to taking instructions from the Company, any of the Directors, chief executive of the Company, the
+Controlling Shareholders, the substantial Shareholders, the existing Shareholders or any of their
+subsidiaries or their respective close associates in relation to the acquisition, disposal, voting or
+other disposition of the Shares registered in their name or otherwise held by them; (iii) no rebate or
+other benefits has been or will be, directly or indirectly, provided by the Company, the Directors,
+chief executive of the Company, the Controlling Shareholders, the substantial Shareholders, the
+existing Shareholders or any of their subsidiaries, or their respective close associates, or syndicate
+members or any brokers or underwriters to any public Shareholders in the Public Offer or placees
+or their associates in the Placing; (iv) the consideration payable by the public Shareholders in the
+Public Offer and placees in the Placing for each Offer Share subscribed for or purchased by them
+is the same as the final Offer Price as determined by the Company, in additional to brokerage of
+1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%; and (v) there is no side agreement or arrangement between the Company,
+any of the Directors, chief executive of the Company, the Controlling Shareholders, the substantial
+Shareholders, the existing Shareholders or any of their subsidiaries or their respective close
+associates or syndicate members or any other brokers or underwriters, on one hand, and the public
+subscribers or the placee who has subscribed for the Offer Shares, on the other hand.
+None of the Sole Sponsor, the Sole Overall Coordinator, the Joint Global Coordinators, the
+Joint Bookrunners, the Joint Lead Managers, the Underwriters, and their respective affiliated
+companies and connected clients of the lead broker or of any distributors (as defined in the Placing
+Guidelines) has taken up any Offer Shares for its own benefit under the Global Offering.
+
+
+--- page 11 ---
+13
+LOCK-UP UNDERTAKINGS
+Each of the Company and the Controlling Shareholders has given certain undertakings in relation
+to the issue or disposal of Shares (the “Lock-up Undertakings ”). The major terms of the Lock-Up
+Undertakings are set out as follows:
+Name
+Number of
+Lock-up
+Shares held in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing
+Approximate
+percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing
+Last day subject to the
+Lock-up Undertakings
+The Company
+ (subject to lock-up obligations
+ pursuant to the Listing Rules
+ and the Underwriting Agreements)
+N/A N/A 10 May 2024 (1)
+(First Six-Month Period)
+Controlling Shareholders
+ (subject to lock-up obligations
+ pursuant to the Listing Rules
+ and the Underwriting Agreements)
+Mr. Chen and JaiYi Culture 496,334,398 64.40% 10 May 2024 (2)
+(First Six-Month Period)
+10 November 2024 (2)
+(Second Six-Month Period)
+Notes:
+(1) The Company may not, among others, issue or agree to issue or publicly announce its intention to issue Shares
+or securities of the Company during the period of six months from and inclusive of the Listing Date (the “First
+Six-Month Period ”) except for the issue of the Shares pursuant to the Capitalisation Issue, the Global Offering,
+the issue of any Shares pursuant to the Share Option Scheme or as otherwise with the prior written consent
+of the Joint Global Coordinators (for itself and on behalf of the Public Offer Underwriters), and unless in
+compliance with the Listing Rules. For details of the lock-up arrangements of the Company, please refer to the
+paragraphs headed “Underwriting – Undertakings Given to the Stock Exchange Pursuant to the Listing Rules –
+Undertakings by our Company ” and “Underwriting – Undertakings Pursuant to the Public Offer Underwriting
+Agreement – Undertakings by our Company ” in the Prospectus.
+(2) The Controlling Shareholders shall not (a) dispose of any of the relevant securities of the Company in the First
+Six-Month Period; or (b) dispose of any of the relevant securities of the Company in the period of six months
+commencing from the date on which the First Six-Month Period expires (the “Second Six-Month Period ”) if
+immediately following such disposal he/it would cease to be a controlling shareholder (as defined in the Listing
+Rules) of the Company. For further details, please refer to the paragraphs headed “Underwriting – Undertakings
+Given to the Stock Exchange Pursuant to the Listing Rules – Undertakings by our Controlling Shareholders ”
+and “Underwriting – Undertakings Pursuant to the Public Offer Underwriting Agreement – Undertakings by our
+Controlling Shareholders ” in the Prospectus.
+
+
+--- page 12 ---
+14
+BASIS OF ALLOCATION UNDER THE PUBLIC OFFER
+Subject to the satisfaction of the conditions set out in the section headed “Structure and Conditions
+of the Global Offering – Conditions of the Global Offering ” in the Prospectus, 5,017 valid
+applications made by the public through the HK eIPO White Form service and the CCASS EIPO
+service will be conditionally allocated on the basis set out below:
+Pool A
+Number
+of Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of Shares
+applied for
+4,000 2,984 315 out of 2,984 applicants to receive 4,000 shares 10.56%
+8,000 740 147 out of 740 applicants to receive 4,000 shares 9.93%
+12,000 130 38 out of 130 applicants to receive 4,000 shares 9.74%
+16,000 37 14 out of 37 applicants to receive 4,000 shares 9.46%
+20,000 62 29 out of 62 applicants to receive 4,000 shares 9.35%
+24,000 22 11 out of 22 applicants to receive 4,000 shares 8.33%
+28,000 30 17 out of 30 applicants to receive 4,000 shares 8.10%
+32,000 15 9 out of 15 applicants to receive 4,000 shares 7.50%
+36,000 10 6 out of 10 applicants to receive 4,000 shares 6.67%
+40,000 689 448 out of 689 applicants to receive 4,000 shares 6.50%
+60,000 28 27 out of 28 applicants to receive 4,000 shares 6.43%
+80,000 74 4,000 shares plus 19 out of 74 applicants to
+ receive an additional 4,000 shares
+6.28%
+100,000 23 4,000 shares plus 13 out of 23 applicants to
+ receive an additional 4,000 shares
+6.26%
+120,000 6 4,000 shares plus 5 out of 6 applicants to
+ receive an additional 4,000 shares
+6.11%
+140,000 1 8,000 shares 5.71%
+160,000 7 8,000 shares 5.00%
+180,000 97 8,000 shares 4.44%
+200,000 14 8,000 shares 4.00%
+300,000 8 8,000 shares 2.67%
+400,000 8 8,000 shares plus 2 out of 8 applicants to
+ receive an additional 4,000 shares
+2.25%
+500,000 5 8,000 shares plus 4 out of 5 applicants to
+ receive an additional 4,000 shares
+2.24%
+600,000 4 12,000 shares plus 1 out of 4 applicants to
+ receive an additional 4,000 shares
+2.17%
+700,000 3 12,000 shares plus 2 out of 3 applicants to
+ receive an additional 4,000 shares
+2.10%
+
+
+--- page 13 ---
+15
+Pool A
+Number
+of Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of Shares
+applied for
+800,000 2 16,000 shares 2.00%
+900,000 1 16,000 shares 1.78%
+1,000,000 1 16,000 shares 1.60%
+1,500,000 2 16,000 shares 1.07%
+2,000,000 4 16,000 shares 0.80%
+2,500,000 1 16,000 shares 0.64%
+4,500,000 2 16,000 shares 0.36%
+Total 5,010 Total number of Pool A successful applicants: 1,324
+Pool B
+Number
+of Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of Shares
+applied for
+5,000,000 6 892,000 shares 17.84%
+6,000,000 1 896,000 shares 14.93%
+Total 7 Total number of Pool B successful applicants: 7
+The final number of Offer Shares under the Public Offer is 12,500,000 Offer Shares, representing
+approximately 10% of the total number of Offer Shares initially available under the Global
+Offering.
+RESULTS OF ALLOCATIONS
+The final Offer Price, the level of indications of interest in the Placing, the level of applications
+in the Public Offer and the basis of allocation of the Public Offer Shares will be published on
+Thursday, 9 November 2023 on the Company ’s website at www.youmeimu.com and the website
+of the Stock Exchange at www.hkexnews.hk .
+
+
+--- page 14 ---
+16
+The results of allocations of the Public Offer Shares and the Hong Kong identity card numbers,
+passport numbers, Hong Kong business registration numbers or certificate of incorporation
+numbers of successful applicants (under the Public Offer where applicable) will be available at the
+times and dates and in the manner set out below:
+• in the announcement to be posted on our Company ’s website and the website of the Stock
+Exchange at www.youmeimu.com and www.hkexnews.hk , respectively on Thursday, 9
+November 2023;
+• from the “IPO Results ” function in the IPO App and the designated results of allocations
+website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search by
+ID” function on a 24-hour basis from 8:00 a.m. on Thursday, 9 November 2023 to 12:00
+midnight on Wednesday, 15 November 2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between
+9:00 a.m. and 6:00 p.m. from Thursday, 9 November 2023 to Tuesday, 14 November 2023
+(excluding Saturday, Sunday and public holidays in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White Form ”
+in this announcement refer to Hong Kong identity card numbers, passport numbers, Hong Kong
+business registration numbers, certificate of incorporation numbers, beneficial owner identification
+codes (if such applications are made by nominees as agent for the benefit of another person)
+whereas those displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS
+Participants via CCASS. Therefore, the identification document numbers shown in the two sections
+are different in nature. Please note that the list of identification document numbers set out in this
+announcement may not be a complete list of successful applicants since only successful applicants
+whose identification document numbers are provided to HKSCC by CCASS Participants or via
+the HK eIPO White Form service are disclosed. Applicants with beneficial names only but not
+identification document numbers are not disclosed due to personal privacy issue as elaborated
+below. Applicants who applied for the Public Offer Shares through their brokers or nominees can
+consult their brokers or nominees to enquire about their application results;
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK eIPO
+White Form ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 15 ---
+17
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the Placing is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the Placing:
+Placee(s) Subscription
+Shares held
+following the
+Global
+Offering
+Subscription
+as % of
+Placing
+Subscription
+as % of total
+Offer Shares
+% of the
+total issued
+share capital
+upon Listing
+Top 1 6,012,000 6,012,000 5.34% 4.81% 0.78%
+Top 5 24,188,000 24,188,000 21.50% 19.35% 3.14%
+Top 10 39,200,000 39,200,000 34.84% 31.36% 5.09%
+Top 20 63,256,000 63,256,000 56.23% 50.60% 8.21%
+Top 25 72,704,000 72,704,000 64.63% 58.16% 9.43%
+• Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Shareholder(s)
+Subscription of
+Public Offer
+Shares
+Subscription of
+Placing
+Shares
+Subscription of
+total Offer
+Shares
+Shares held
+following the
+Global
+Offering
+Subscription
+as % of
+Public Offer
+Subscription
+as % of
+Placing
+Subscription
+as % of total
+Offer Shares
+% of the
+total issued
+share capital
+upon Listing
+Top 1 – – – 496,334,398 – – – 64.40%
+Top 5 – – – 639,119,320 – – – 82.93%
+Top 10 – 20,212,000 20,212,000 665,862,000 – 17.97% 16.17% 86.40%
+Top 20 – 49,648,000 49,648,000 695,298,000 – 44.13% 39.72% 90.22%
+Top 25 – 61,224,000 61,224,000 706,874,000 – 54.42% 48.98% 91.72%
+In view of the 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 Shares.
diff --git a/data/extracted_text/01284/allotment_results_summary_2023-07-14_2023071400018.txt b/data/extracted_text/01284/allotment_results_summary_2023-07-14_2023071400018.txt
new file mode 100644
index 0000000..70e4703
--- /dev/null
+++ b/data/extracted_text/01284/allotment_results_summary_2023-07-14_2023071400018.txt
@@ -0,0 +1,657 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+The final Offer Price has been determined at HK$0.92 per Offer Share (exclusive of brokerage of 1%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
+fee of 0.00565%).
+Net Proceeds from the Share Offer
+• Based on the final Offer Price of HK$0.92 per Offer Share and 150,000,000 Offer Shares offered
+by the Company for subscription, the net proceeds from the Share Offer to be received by
+the Company, after deducting the underwriting fees and commissions and estimated expenses
+payable by the Company in connection with the Share Offer, is estimated to be approximately
+HK$101.0 million. The Company intends to apply such net proceeds in the manner as set out in
+the paragraph headed “Net proceeds from the Share Offer” in this announcement.
+Level of Applications in the Public Offer and the Employee Preferential Offering
+• The Public Offer Shares have been very significantly over-subscribed. A total of 11,655 valid
+applications have been received pursuant to the Public Offer (being applications made through
+the HK eIPO White Form service or the CCASS EIPO service or on PINK Application
+Forms) for a total of 662,715,000 Public Offer Shares, representing approximately 44.2 times
+of the number of 15,000,000 Public Offer Shares initially available for subscription under the
+Public Offer (including 1,500,000 Employee Reserved Shares under the Employee Preferential
+Offering).
+• A total of 7 valid applications have been received pursuant to the Employee Preferential Offering
+on PINK Application Forms for a total of 2,185,000 Employee Reserved Shares, equivalent
+to approximately 1.5 times of the total number of Employee Reserved Shares available for
+subscription under the Employee Preferential Offering. As the Employee Preferential Offering
+has been fully subscribed for, none of the Employee Reserved Shares have been made available
+for subscription by the public under the Public Offer. The final number of Employee Reserved
+Shares allocated to the relevant Eligible Employees under the Employee Preferential Offering
+is 1,500,000 Offer Shares, representing 1.0% of the total number of the Offer Shares available
+under the Share Offer.
+
+
+--- page 2 ---
+4
+• As the over-subscription in the Public Offer is more than 15 times but less than 50 times of
+the total number of the Offer Shares initially available for subscription under the Public Offer,
+the reallocation procedure as disclosed in the section headed “Structure and conditions of the
+Share Offer – The Public Offer – Reallocation” in the Prospectus has been applied. The final
+number of Offer Shares under the Public Offer is 45,000,000 Offer Shares (including 1,500,000
+Employee Reserved Shares under the Employee Preferential Offering), representing 30.0% of
+the total number of Offer Shares available under the Share Offer, which have been allocated
+to 4,315 successful applicants under the Public Offer (including 7 successful applicants
+under the Employee Preferential Offering). A total number of 4,212 applicants, representing
+approximately 97.6% of the total number of 4,315 successful applicants under the Public Offer
+(including 7 successful applicants under the Employee Preferential Offering), have been allotted
+with one board lot of the Public Offer Shares. These applicants have been allotted 21,060,000
+Offer Shares, representing approximately 1.4 times of 15,000,000 Public Offer Shares initially
+available under the Public Offer.
+Placing
+• The Placing Shares initially offered under the Placing have been slightly oversubscribed,
+representing approximately 1.5 times of the total number of 135,000,000 Placing Shares initially
+available for subscription under the Placing. The final number of Offer Shares under the Placing
+is 105,000,000 Offer Shares, representing 70.0% of the total number of Offer Shares available
+under the Share Offer.
+• There are a total of 177 placees under the Placing. No over-allocation of Placing Shares has
+been made. A total of 65 placees, representing approximately 36.7% of the total number of
+placees under the Placing, have been allotted five board lots of the Placing Shares or less. These
+placees have been allotted approximately 0.6% of the Offer Shares initially available under the
+Placing and approximately 0.5% of the total number of the Offer Shares under the Share Offer.
+A total of 18 placees, representing approximately 10.2% of the total number of placees under the
+Placing, have been allotted one board lot of the Placing Shares. These placees have been allotted
+approximately 0.1% of the Offer Shares initially available under the Placing and approximately
+0.1% of the total number of the Offer Shares under the Share Offer.
+• The Placing has been conducted in compliance with the Placing Guidelines for Equity Securities
+as set out in Appendix 6 to the Listing Rules (the “Placing Guidelines”). To the best knowledge,
+information and belief of the Directors and having made all reasonable enquiries, none of the
+Offer Shares were allocated to any core connected person, Directors or existing Shareholders of
+the Company, or their respective close associates, or persons set out in paragraphs 5(1) and 5(2)
+of the Placing Guidelines, whether in their own names or through nominees. None of the Joint
+Sponsors, the Overall Coordinators, the Joint Coordinators, the Joint Bookrunners, the Joint Lead
+Managers, the Underwriters, the Capital Market Intermediaries and their respective affiliated
+companies and connected clients (as set out in Appendix 6 to the Listing Rules) has taken up any
+Offer Shares for its own benefit under the Share Offer.
+
+
+--- page 3 ---
+5
+• The Directors further confirm that, to the best of their knowledge, information and belief and
+having made all reasonable enquiries, all placees under the Placing and their ultimate beneficial
+owners are independent of and are not (a) core connected persons of the Company, (b) Directors
+or existing Shareholders or any of the Company’s subsidiaries, or (c) close associates of (a) and/
+or (b) above whether in their own names or through nominees.
+• The Directors confirm that, to the best of their knowledge, information and belief and
+having made all reasonable enquiries, no placee will, individually, hold more than 10% of
+the enlarged issued share capital of the Company immediately after completion of the Share
+Offer. Accordingly, the Directors confirm that none of the placees will become a substantial
+shareholder of the Company immediately following completion of the Placing, and there will not
+be any new substantial shareholder of the Company immediately following completion of the
+Share Offer.
+• The Directors confirm that, to the best of their knowledge, information and belief and having
+made all reasonable enquiries, (i) none of the Offer Shares subscribed by public Shareholders
+in the Public Offer and placees in the Placing has been financed directly or indirectly by the
+Company, the Directors, the chief executive of the Company, the Controlling Shareholders,
+substantial Shareholders of the Company, existing Shareholders of the Company or any of
+their subsidiaries or their respective close associates; (ii) no rebate has been, directly or
+indirectly, provided by the Company, the Directors, the chief executive of the Company, the
+Controlling Shareholders, substantial Shareholders of the Company, existing Shareholders of the
+Company, or syndicate members or any other brokers involved in the Share Offer, to any public
+Shareholders in the Public Offer or placees in the Placing; (iii) none of the public Shareholders
+in the Public Offer and placees in the Placing who has subscribed for Offer Shares is accustomed
+to taking instructions from the Company, the Directors, the chief executive of the Company,
+the Controlling Shareholders, substantial Shareholders of the Company, existing Shareholders
+of the Company or any of their subsidiaries or their respective close associates in relation to
+the acquisition, disposal, voting or other disposition of the Shares registered in his/her/its name
+or otherwise held by him/her/it; (iv) the consideration payable by the public Shareholders in
+the Public Offer and placees in the Placing for each Share subscribed for or purchased by them
+is the same as the final Offer Price as determined by the Company, in addition to brokerage
+of 1%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock
+Exchange trading fee of 0.00565%; and (v) there is no side agreement or arrangement between
+the Company, any of the Directors, the chief executive of the Company, the Controlling
+Shareholders, substantial Shareholders of the Company, existing Shareholders of the Company
+or any of their subsidiaries or their respective close associates, on one hand, and the public
+subscribers or the placees who have subscribed for Offer Shares, on the other hand.
+Lock-up Undertakings
+The Company and the Controlling Shareholders are subject to certain lock-up undertakings as set out
+in paragraph headed “Lock-up undertakings” in this announcement.
+
+
+--- page 4 ---
+6
+Results of Allocations
+The final Offer Price, the results of allocations and the Hong Kong identity card/passport/Hong Kong
+business registration/certificate of incorporation numbers of successful applicants under the Public
+Offer will be available at the times and date and in the manner specified below:
+• in this announcement to be posted on the Stock Exchange’s website at www.hkexnews.hk
+and on the Company’s website at www.newmedialab.com.hk by no later than 9:00 a.m. on
+Friday, 14 July 2023. Please note that the list of identification document numbers set out in
+this announcement may not be a complete list of successful applicants, since only successful
+applicants whose identification document numbers are provided to HKSCC by CCASS
+Participants are disclosed. Applicants with beneficial names only but not identification document
+numbers are not disclosed due to personal privacy issue as elaborated below. Applicants who
+applied for Public Offer Shares through their brokers can consult their brokers to enquire about
+their application results;
+• from “IPO Results” function in the IPO App or the designated results of allocations website at
+www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search by ID” function on
+a 24 hour basis from 8:00 a.m. on Friday, 14 July 2023 to 12:00 midnight on Thursday, 20 July
+2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between 9:00 a.m.
+and 6:00 p.m. from Friday, 14 July 2023 to Wednesday, 19 July 2023 (excluding Saturday,
+Sunday and public holiday in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of applications made by HK eIPO White Form” in
+this announcement refer to the Hong Kong identity card numbers, passport numbers, Hong Kong
+business registration numbers, certificate of incorporation numbers or beneficial owner identification
+codes (if such applications are made by nominees as agent for the benefit of another person) whereas
+those displayed in the section headed “Results of applications made by giving Electronic Application
+Instructions to HKSCC via CCASS” in this announcement are provided by CCASS Participants via
+CCASS. Therefore, the identification document numbers shown in the two sections are different in
+nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of applications made by HK eIPO
+White Form ” and “Results of applications made by giving Electronic Application Instructions
+to HKSCC via CCASS” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 5 ---
+7
+Despatch/Collection of Share Certificates/e-Auto Refund Payment Instructions/Refund Cheques
+For each applicant applying for Public Offer Shares through the HK eIPO White Form service:
+• Where an application has been made for 1,000,000 Public Offer Shares or more through
+HK eIPO White Form service and the application is wholly or partially successful, Share
+Certificates may be collected in person from the Hong Kong Share Registrar, Tricor Secretaries
+Limited, at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong, from 9:00 a.m. to 1:00
+p.m. on Friday, 14 July 2023, or any other place or date notified by the Company.
+An individual who is eligible for personal collection must not authorise any other person(s)
+to make collection on his behalf. A corporate applicant which is eligible for personal
+collection must attend by its authorised representative(s) bearing a letter of authorisation from
+such corporation stamped with the corporation’s chop. Both an individual and authorised
+representative(s) (if applicable) must produce, at the time of collection, evidence of identity
+acceptable to the Hong Kong Share Registrar.
+If Share certificate(s) and/or refund cheque(s) are not collected personally within the time
+specified for collection, they will be sent to the address specified in the application instructions
+by ordinary post at the applicant’s own risk.
+• Where an application has been made for less than 1,000,000 Public Offer Shares through the HK
+eIPO White Form service, the Share certificate(s) (where applicable) will be sent to the address
+specified in the application instructions on or before Friday, 14 July 2023 by ordinary post at the
+applicant’s own risk.
+• Where the application monies have been paid from a single bank account, any refund monies
+will be despatched to that bank account in the form of e-Auto Refund payment instructions.
+• Where the application monies have been paid from multiple bank accounts, any refund monies
+will be despatched to the address as specified in the application instructions in the form of
+refund cheque(s) in favour of the applicant (or, in the case of joint applications, the first-named
+applicant) by ordinary post at the own risk of the applicant(s).
+For each applicant applying for Public Offer Shares through the CCASS EIPO service:
+• For the purposes of allocating Public Offer Shares, HKSCC Nominees will not be treated as an
+applicant. Instead, each CCASS Participant who gives electronic application instructions or
+each person for whose benefit instructions are given will be treated as an applicant.
+• Where the application is wholly or partially successful, the Share certificate(s) will be issued
+in the name of HKSCC Nominees and deposited into CCASS for the credit of the designated
+CCASS Participant’s stock account or the applicant’s CCASS Investor Participant stock account
+on Friday, 14 July 2023 or on any other date determined by HKSCC or HKSCC Nominees.
+
+
+--- page 6 ---
+8
+• The applicant should check the application results of CCASS Participants (and where the
+CCASS Participant is a broker or custodian, information relating to the relevant beneficial owner
+is included) and the successful applicants’ Hong Kong identity card number/passport number or
+other identification code (Hong Kong business registration number for corporations) published
+by the Company on Friday, 14 July 2023 in the manners specified in the section headed “Results
+of allocations” in this announcement, and report any discrepancies to HKSCC before 5:00 p.m.
+on Friday, 14 July 2023 or such other date as determined by HKSCC or HKSCC Nominees.
+• Where the applicant has instructed a broker or custodian to give electronic application
+instructions on his/her/its behalf, the applicant can also check the number of Public Offer
+Shares allotted to him/her/it and the amount of refund monies (if any) payable to him/her/it with
+that broker or custodian.
+• Where the applicant has applied as a CCASS Investor Participant, he/she/it can also check the
+number of Public Offer Shares allotted to him/her/it and the amount of refund monies (if any)
+payable to him/her/it via the CCASS Phone System and the CCASS Internet System (under the
+procedures contained in HKSCC’s “An Operating Guide for Investor Participants” in effect
+from time to time) on Friday, 14 July 2023. Immediately following the credit of the Public
+Offer Shares to the applicant’s stock account and the credit of refund monies to his/her/its bank
+account, HKSCC will also make available to him/her/it an activity statement showing the number
+of Public Offer Shares credited to his/her/its CCASS Investor Participant stock account and the
+amount of refund monies (if any) credited to his/her/its designated bank account.
+• Refund of the application monies (if any) in respect of wholly and partially unsuccessful
+applications and/or difference between the final Offer Price and the maximum Offer Price per
+Offer Share initially paid on application (including brokerage, SFC transaction levy, AFRC
+transaction levy and Stock Exchange trading fee but without interest) will be credited to the
+applicant’s designated bank account or the designated bank account of the applicant’s broker or
+custodian on Friday, 14 July 2023.
+For each applicant applying for Employee Reserved Shares using the PINK Application Form:
+• Share certificate(s) and/or refund cheque(s) (if any) for Public Offer Shares allotted to applicants
+using PINK Application Forms are expected to be sent to the address on the PINK Application
+Form on or before Friday, 14 July 2023.
+• Where an application has been made for 1,000,000 Employee Reserved Shares or more using
+the PINK Application Form, and the application is wholly or partially successful, Share
+certificate(s) may be collected in person from the Hong Kong Share Registrar, Tricor Secretaries
+Limited, at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong, from 9:00 a.m. to 1:00
+p.m. on Friday, 14 July 2023, or any other place or date notified by the Company. If the Eligible
+Employee is an individual who is eligible for personal collection, he/she must not authorise any
+other person to collect for him/her.
+
+
+--- page 7 ---
+9
+Share certificates will only become valid at 8:00 a.m. on Monday, 17 July 2023 provided that the
+Share Offer has become unconditional in all respects and the right of termination as described in
+the section headed “Underwriting – Underwriting arrangements and expenses – 1. Underwriting
+Agreement – Grounds for termination” in the Prospectus has not been exercised.
+No temporary document of title will be issued in respect of the Offer Shares. No receipt will be issued
+for sums paid on application.
+Public Float
+The Directors confirm that:
+(i) immediately following completion of the Share Offer and the Capitalisation Issue, at least 25%
+of the total number of issued Shares will be held by the public, in compliance with Rule 8.08(1)
+of the Listing Rules;
+(ii) the 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) and Rule 8.24 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 completion of the Share Offer; and
+(v) there will not be any new substantial Shareholder (as defined in the Listing Rules) of the
+Company immediately after completion of the Share Offer.
+Commencement of Dealings
+Assuming that the Share Offer becomes unconditional in all respects at or before 8:00 a.m. on
+Monday, 17 July 2023 (Hong Kong time), dealings in the Shares on the Stock Exchange will
+commence at 9:00 a.m. on Monday, 17 July 2023 (Hong Kong time). The Shares will be traded in
+board lots of 5,000 Shares. The stock code of the Shares is 1284.
+In view of the high concentration of shareholding in a small number of Shareholders,
+Shareholders and respective 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.
+
+
+--- page 8 ---
+10
+FINAL OFFER PRICE
+The final Offer Price has been determined at HK$0.92 per Offer Share (exclusive of brokerage of 1%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee
+of 0.00565%).
+NET PROCEEDS FROM THE SHARE OFFER
+Based on the final Offer Price of HK$0.92 per Offer Share and 150,000,000 Offer Shares offered by
+the Company for subscription, the net proceeds from the Share Offer to be received by the Company,
+after deducting the underwriting fees and commissions and estimated expenses payable by the Company
+in connection with the Share Offer, is estimated to be approximately HK$101.0 million (the “ Net
+Proceeds”).
+The Company intends to apply the Net Proceeds for the following purposes:
+• approximately HK$26.6 million, representing approximately 26.3%, of the Net Proceeds is expected
+to be applied for future mergers and acquisitions and/or strategic alliances with other media or
+e-commerce market players to accelerate the Group’s growth beyond organic;
+• as to approximately HK$44.8 million, representing approximately 44.4%, of the Net Proceeds is
+expected to be used for expanding and enhancing the Group’s product lines and data collection and
+analytical capabilities, which the Company believes will enable the Group to deepen its penetration
+into its existing clientele and expanding its clientele, through launching of the APS Platform, PSS
+Platform and E-Commerce Solution Platform;
+• approximately HK$12.6 million, representing approximately 12.5%, of the Net Proceeds is expected
+to be used for constructing an in-house media content management platform to enhance the Group’s
+research capabilities and help monitoring the performances of the Group’s contents qualitatively
+and quantitatively and enabling the Group to be prepared for handling the increasing volume of data
+along with the anticipated expansion of its business;
+• approximately HK$7.0 million, representing 6.9%, of the Net Proceeds is expected to be used for
+repayment of bank borrowings; and
+• approximately HK$10.0 million, representing approximately 9.9%, of the Net Proceeds is expected
+to be used to fund the Group’s working capital and for general corporate purposes.
+Please refer to the section headed “Future plans and use of proceeds” in the Prospectus for further
+details in respect to the Company’s use of proceeds from the Share Offer.
+
+
+--- page 9 ---
+11
+LEVEL OF APPLICATIONS IN THE PUBLIC OFFER AND EMPLOYEE PREFERENTIAL
+OFFERING
+The Company announces that the Public Offer Shares initially offered under the Public Offer have been
+very significantly over-subscribed. At the close of the application lists at 12:00 noon on Wednesday,
+5 July 2023, a total of 11,655 valid applications (including 7 valid applications under the Employee
+Preferential Offering) have been received pursuant to the Public Offer (being applications made through
+the HK eIPO White Form service or the CCASS EIPO service or on the PINK Application Forms) for
+a total of 662,715,000 Public Offer Shares, representing approximately 44.2 times of the total number
+of 15,000,000 Public Offer Shares initially available under the Public Offer, among which and with
+reference to paragraph 3.1 of the Practice Note 18 of the Listing Rules (“Paragraph 3.1 of PN18”):
+• 11,618 valid applications were made in respect of a total of 469,280,000 Public Offer Shares
+under the Public Offer (excluding the applications under the Employee Preferential Offering), each
+with an aggregate subscription amount based on the maximum Offer Price of HK$0.92 per Offer
+Share (exclusive of brokerage of 1%, SFC transaction levy of 0.0027%, AFRC transaction levy
+of 0.00015% and Stock Exchange trading fee of 0.00565%) of HK$5 million or less, representing
+approximately 69.5 times of the number of 6,750,000 Public Offer Shares initially available in Pool
+A of the Public Offer;
+• 30 valid applications were made in respect of a total of 191,250,000 Public Offer Shares under
+the Public Offer (excluding the applications under the Employee Preferential Offering), each with
+an aggregate subscription amount based on the maximum Offer Price of HK$0.92 per Offer Share
+(exclusive of brokerage of 1.00%, Stock Exchange trading fee of 0.00565%, SFC transaction levy
+of 0.0027% and AFRC transaction levy of 0.00015%) of more than HK$5 million, representing
+approximately 28.3 times of the number of 6,750,000 Public Offer Shares initially available in Pool
+B of the Public Offer; and
+• 7 valid applications have been received pursuant to the Employee Preferential Offering on PINK
+Application Forms for a total of 2,185,000 Employee Reserved Shares, equivalent to approximately
+1.5 times of the total number of Employee Reserved Shares available for subscription under the
+Employee Preferential Offering. As the Employee Preferential Offering has been fully subscribed
+for, none of the Employee Reserved Shares have been made available for subscription by the
+public under the Public Offer. The final number of Employee Reserved Shares allocated to the
+relevant Eligible Employees under the Employee Preferential Offering is 1,500,000 Offer Shares,
+representing 1.0% of the total number of the Offer Shares available under the Share Offer.
+
+
+--- page 10 ---
+12
+As the over-subscription in the Public Offer is more than 15 times but less than 50 times of the total
+number of the Offer Shares initially available for subscription under the Public Offer, the reallocation
+procedure as disclosed in the section headed “Structure and conditions of the Share Offer – The Public
+Offer – Reallocation” in the Prospectus has been applied. The final number of Offer Shares under
+the Public Offer is 45,000,000 Offer Shares, representing 30.0% of the total number of Offer Shares
+available under the Share Offer, which have been allocated to 4,315 successful applicants under the
+Public Offer (including 7 successful applicants under the Employee Preferential Offering). A total
+number of 4,212 applicants, representing approximately 97.6% of the total number of 4,315 successful
+applicants under the Public Offer (including 7 successful applicants under the Employee Preferential
+Offering), have been allotted with one board lot of the Public Offer Shares. These applicants have been
+allotted 21,060,000 Offer Shares, representing approximately 1.4 times of 15,000,000 Public Offer
+Shares initially available under the Public Offer.
+10 multiple applications or suspected multiple applications have been identified and rejected. No
+applications have been rejected due to bounced cheques. No application has been rejected due to invalid
+application which is not completed in accordance with the instructions set out in the Application Forms.
+No application for more than 6,750,000 Public Offer Shares has been identified. The Public Offer Shares
+have been conditionally allocated on the basis set out in the paragraph headed “Basis of allocation under
+the Public Offer” in this announcement.
+PLACING
+The Placing Shares initially offered under the Placing have been slightly oversubscribed, representing
+approximately 1.5 times of the total number of 135,000,000 Placing Shares initially available for
+subscription under the Placing. The final number of Offer Shares under the Placing is 105,000,000 Offer
+Shares, representing 70.0% of the total number of Offer Shares available under the Share Offer.
+There are a total of 177 placees under the Placing. No over-allocation of Placing Shares has been
+made. A total of 65 placees, representing approximately 36.7% of the total number of placees under
+the Placing, have been allotted five board lots of the Placing Shares or less. These placees have been
+allotted approximately 0.6% of the Offer Shares initially available under the Placing and approximately
+0.5% of the total number of the Offer Shares under the Share Offer. A total of 18 placees, representing
+approximately 10.2% of the total number of placees under the Placing, have been allotted one board lot
+of the Placing Shares. These placees have been allotted approximately 0.1% of the Offer Shares initially
+available under the Placing and approximately 0.1% of the total number of the Offer Shares under the
+Share Offer.
+The Placing has been conducted in compliance with the Placing Guidelines. To the best knowledge,
+information and belief of the Directors and having made all reasonable enquiries, none of the Offer
+Shares were allocated to any core connected person, Directors or existing Shareholders of the Company,
+or their respective close associates or persons set out in paragraphs 5(1) and 5(2) of the Placing
+Guidelines, whether in their own names or through nominees. None of the Joint Sponsors, the Overall
+Coordinators, the Joint Coordinators, the Joint Bookrunners, the Joint Lead Managers, the Underwriters,
+the Capital Market Intermediaries and their respective affiliated companies and connected clients (as
+
+
+--- page 11 ---
+13
+set out in Appendix 6 to the Listing Rules) has taken up any Offer Shares for its own benefit under the
+Share Offer. The Directors further confirm that, to the best of their knowledge, information and belief
+and having made all reasonable enquiries, all placees under the Placing and their ultimate beneficial
+owners are independent of and are not (a) core connected persons of the Company, (b) Directors or
+existing Shareholders or any of the Company’s subsidiaries, or (c) close associates of (a) and/or (b)
+above whether in their own names or through nominees.
+The Directors confirm that, to the best of their knowledge, information and belief and having made
+all reasonable enquiries, no placee will, individually, hold more than 10% of the enlarged issued share
+capital of the Company immediately after completion of the Share Offer. Accordingly, the Directors
+confirm that none of the placees will become a substantial shareholder of the Company immediately
+following completion of the Placing, and there will not be any new substantial shareholder of the
+Company immediately following completion of the Share Offer.
+The Directors confirm that, to the best of their knowledge, information and belief and having made
+all reasonable enquiries, (i) none of the Offer Shares subscribed by public Shareholders in the Public
+Offer and placees in the Placing has been financed directly or indirectly by the Company, the Directors,
+the chief executive of the Company, the Controlling Shareholders, substantial Shareholders of the
+Company, existing Shareholders of the Company or any of their subsidiaries or their respective close
+associates; (ii) no rebate has been, directly or indirectly, provided by the Company, the Directors, the
+chief executive of the Company, the Controlling Shareholders, substantial Shareholders of the Company,
+existing Shareholders of the Company, or syndicate members or any other brokers involved in the Share
+Offer, to any public Shareholders in the Public Offer or placees in the Placing; (iii) none of the public
+Shareholders in the Public Offer and placees in the Placing who has subscribed for the Offer Shares is
+accustomed to taking instructions from the Company, the Directors, the chief executive of the Company,
+the Controlling Shareholders, substantial Shareholders of the Company, existing Shareholders of the
+Company or any of their subsidiaries or their respective close associates in relation to the acquisition,
+disposal, voting or other disposition of the Shares registered in his/her/its name or otherwise held by
+him/her/it; (iv) the consideration payable by the public Shareholders in the Public Offer and placees
+in the Placing for each Share subscribed for or purchased by them is the same as the final Offer Price
+as determined by the Company, in addition to brokerage of 1%, SFC transaction levy of 0.0027%,
+AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%; and (v) there is no
+side agreement or arrangement between the Company, any of the Directors, the chief executive of the
+Company, the Controlling Shareholders, substantial Shareholders of the Company, existing Shareholders
+of the Company or any of their subsidiaries or their respective close associates, on one hand, and the
+public subscribers or the placees who have subscribed for Offer Shares, on the other hand.
+
+
+--- page 12 ---
+14
+LOCK-UP UNDERTAKINGS
+The Company, the Controlling Shareholders, Mr. Royce Lee, Double Blossoms, Ms. Venus Lee and
+Double Fantastic have provided certain lock-up undertakings (the “Lock-up Undertakings”) in respect
+of the Shares. The Lock-up Undertakings, except that required by the Listing Rules, have been provided
+on a voluntary basis pursuant to commercial negotiations. The major terms of the Lock-up Undertakings
+are set out below.
+Party
+Number of Shares
+directly held immediately
+following completion of
+the Capitalisation Issue
+and the Share Offer which
+are subject to Lock-up
+Undertaking upon Listing
+Approximate percentage
+of total number of issued
+Shares immediately
+following completion of the
+Capitalisation Issue and
+the Share Offer
+Last day of the
+lock-up period
+The Company
+(subject to lock-up obligations
+pursuant to the Listing Rules and
+the Underwriting Agreement)
+N/A N/A 17 January 2024
+The Controlling Shareholders
+(subject to lock-up obligations
+pursuant to the Listing Rules and
+the Underwriting Agreement)
+315,000,000 52.5% 17 January 2024,
+(First Six-Month
+Period) 17 July,
+2024 (Second Six-
+Month Period)
+Mr. Royce Lee and Double Blossoms 90,000,000 15.0% 17 January 2024
+(First Six-Month
+Period)
+Ms. Venus Lee and Double Fantastic 45,000,000 7.5% 17 January 2024
+(First Six-Month
+Period)
+Notes:
+1. The Company may not issue Shares prior to the indicated date except otherwise permitted by the Listing Rules.
+2. Percentage figures in the table above are subject to rounding adjustments.
+
+
+--- page 13 ---
+15
+BASIS OF ALLOCATION UNDER THE PUBLIC OFFER
+Subject to satisfaction of the conditions set out in the section headed “Structure and conditions of
+the Share Offer” in the Prospectus and in accordance with Paragraph 3.1 of PN18 Note , 11,655 valid
+applications made by the public through the HK eIPO White Form service or the CCASS EIPO
+service (including 7 valid applications under the Employee Preferential Offering using the PINK
+Application Form) will be conditionally allocated on the basis set out below:
+Number of
+Shares
+applied for
+No. of valid
+applications Basis of allotment/ballot
+Approximate
+percentage allotted
+of the total number
+of Shares applied for
+Pool A
+5,000 6,911 2,074 out of 6,911 applicants to receive 5,000 shares 30.01%
+10,000 1,262 406 out of 1,262 applicants to receive 5,000 shares 16.09%
+15,000 357 120 out of 357 applicants to receive 5,000 shares 11.20%
+20,000 287 99 out of 287 applicants to receive 5,000 shares 8.62%
+25,000 192 68 out of 192 applicants to receive 5,000 shares 7.08%
+30,000 120 44 out of 120 applicants to receive 5,000 shares 6.11%
+35,000 52 21 out of 52 applicants to receive 5,000 shares 5.77%
+40,000 58 24 out of 58 applicants to receive 5,000 shares 5.17%
+45,000 46 20 out of 46 applicants to receive 5,000 shares 4.83%
+50,000 971 431 out of 971 applicants to receive 5,000 shares 4.44%
+60,000 75 36 out of 75 applicants to receive 5,000 shares 4.00%
+70,000 53 27 out of 53 applicants to receive 5,000 shares 3.64%
+80,000 57 31 out of 57 applicants to receive 5,000 shares 3.40%
+90,000 52 30 out of 52 applicants to receive 5,000 shares 3.21%
+100,000 388 227 out of 388 applicants to receive 5,000 shares 2.93%
+200,000 487 376 out of 487 applicants to receive 5,000 shares 1.93%
+300,000 67 61 out of 67 applicants to receive 5,000 shares 1.52%
+400,000 35 5,000 shares plus 1 out of 35 applicants to receive an additional 5,000 shares 1.29%
+500,000 42 5,000 shares plus 5 out of 42 applicants to receive an additional 5,000 shares 1.12%
+600,000 16 5,000 shares plus 4 out of 16 applicants to receive an additional 5,000 shares 1.04%
+700,000 13 5,000 shares plus 4 out of 13 applicants to receive an additional 5,000 shares 0.93%
+800,000 11 5,000 shares plus 4 out of 11 applicants to receive an additional 5,000 shares 0.85%
+900,000 4 5,000 shares plus 2 out of 4 applicants to receive an additional 5,000 shares 0.83%
+1,000,000 33 5,000 shares plus 17 out of 33 applicants to receive an additional 5,000 shares 0.76%
+2,000,000 17 10,000 shares 0.50%
+3,000,000 8 10,000 shares plus 3 out of 8 applicants to receive an additional 5,000 shares 0.40%
+4,000,000 3 10,000 shares plus 2 out of 3 applicants to receive an additional 5,000 shares 0.33%
+5,000,000 1 15,000 shares 0.30%
+Total: 11,618
+
+
+--- page 14 ---
+16
+Number of
+Shares
+applied for
+No. of valid
+applications Basis of allotment
+Approximate
+percentage allotted of
+the total number of
+Shares applied for
+Pool B
+6,000,000 15 720,000 shares 12.00%
+6,750,000 15 730,000 shares 10.81%
+Total: 30
+Note: For allocation purposes only and based on the 43,500,000 Offer Shares available under the Public Offer (as adjusted
+after reallocation and excluding the 1,500,000 Employee Reserved Shares under the Employee Preferential Offering),
+the Public Offer Shares were divided equally into two pools: Pool A and Pool B. The Public Offer Shares in Pool A
+consisted of 21,750,000 Shares and were allocated on an equitable basis to applicants who have applied for Public
+Offer Shares in the value of HK$5 million or less (excluding brokerage, Stock Exchange trading fee, SFC transaction
+levy and AFRC transaction levy thereon). The Public Offer Shares available in Pool B consisted of 21,750,000 Shares
+and were allocated on an equitable basis to applicants who have applied for Public Offer Shares in the value of more
+than HK$5 million (excluding brokerage, Stock Exchange trading fee, SFC transaction levy and AFRC transaction
+levy) and up to the value of Pool B.
+Number of
+Shares
+applied for
+No. of valid
+applications Basis of allotment
+Approximate
+percentage allotted of
+the total number of
+Shares applied for
+Employee Preferential Offering
+10,000 2 10,000 Shares 100.00%
+15,000 1 15,000 Shares 100.00%
+50,000 1 35,000 Shares 70.00%
+500,000 1 345,000 Shares 69.00%
+600,000 1 410,000 Shares 68.33%
+1,000,000 1 675,000 Shares 67.50%
+Total: 7
+The final number of the Offer Shares available under the Public Offer is 45,000,000 Offer Shares,
+representing 30.0% of the total number of the Offer Shares available under the Share Offer.
+
+
+--- page 15 ---
+17
+RESULTS OF ALLOCATIONS
+The final Offer Price, the results of allocations and the Hong Kong identity card/passport/Hong Kong
+business registration/certificate of incorporation numbers of successful applicants under the Public Offer
+will be available at the times and date and in the manner specified below:
+• in this announcement to be posted on the Stock Exchange’s website at www.hkexnews.hk and on
+the Company’s website at www.newmedialab.com.hk by no later than 9:00 a.m. on Friday, 14 July
+2023. Please note that the list of identification document numbers set out in this announcement may
+not be a complete list of successful applicants, since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants are disclosed. Applicants with
+beneficial names only but not identification document numbers are not disclosed due to personal
+privacy issue as elaborated below. Applicants who applied for Public Offer Shares through their
+brokers can consult their brokers to enquire about their application results;
+• from the “IPO Results” function in the IPO App or the designated results of allocations website at
+www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search by ID” function on a 24
+hour basis from 8:00 a.m. on Friday, 14 July 2023, to 12:00 midnight on Thursday, 20 July 2023;
+and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between 9:00 a.m. and
+6:00 p.m. from Friday, 14 July 2023 to Wednesday, 19 July 2023 (excluding Saturday, Sunday and
+public holiday in Hong Kong).
+
+
+--- page 16 ---
+18
+SHAREHOLDER CONCENTRATION ANALYSIS
+Set out below is a summary of the allotments results under the Share Offer:
+• the number of Offer Shares subscribed for by the top 1, 5, 10, 20 and 25 placees under the Placing,
+their subscription percentages in the Placing, and their shareholding percentages upon Listing are as
+follows:
+Placee
+Aggregate number
+of Placing Shares
+allocated under
+the Placing
+Approximate
+aggregate% of the
+total number of
+Placing Shares
+Approximate
+aggregate% of the
+total number
+of Offer
+Shares under
+the Share Offer
+% of total issued
+Shares held
+upon Listing
+Top 1 (Note) 9,340,000 8.9% 6.2% 1.6%
+Top 5 40,165,000 38.3% 26.8% 6.7%
+Top 10 62,905,000 59.9% 41.9% 10.5%
+Top 20 83,895,000 79.9% 55.9% 14.0%
+Top 25 89,340,000 85.1% 59.6% 14.9%
+Note: There are 3 placees who have subscribed for, and are hence allocated with, the same number of Offer Shares. Each of
+them is considered a top 1 placee.
+• the number of Shares held by the top 1, 5, 10, 20 and 25 of all Shareholders upon Listing, (where
+applicable) their subscription percentages in the Public Offer, the Placing and the Share Offer, and
+their shareholding percentages upon Listing are as follows:
+Shareholder
+Number
+of Shares
+subscribed
+for in the
+Placing
+Number
+of Shares
+subscribed
+for in the
+Share Offer
+Number
+of Shares
+held upon
+Listing
+Subscription
+as% of the
+Placing
+Shares
+Subscription
+as% for the
+total Offer
+Shares
+% of total
+issued Shares
+held upon
+Listing
+Top 1 – – 315,000,000 0.0% 0.0% 52.5%
+Top 5 18,680,000 18,680,000 468,680,000 17.8% 12.5% 78.1%
+Top 10 49,505,000 49,505,000 499,505,000 47.1% 33.0% 83.3%
+Top 20 78,735,000 78,735,000 528,735,000 75.0% 52.5% 88.1%
+Top 25 86,230,000 86,230,000 536,230,000 82.1% 57.5% 89.4%
+In view of the high concentration of shareholding in a small number of Shareholders, Shareholders
+and respective 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.
diff --git a/data/extracted_text/01519/allotment_results_summary_2023-10-26_2023102600030.txt b/data/extracted_text/01519/allotment_results_summary_2023-10-26_2023102600030.txt
new file mode 100644
index 0000000..8cc2962
--- /dev/null
+++ b/data/extracted_text/01519/allotment_results_summary_2023-10-26_2023102600030.txt
@@ -0,0 +1,1376 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF ALLOTMENT RESULTS
+SUMMARY
+NET PROCEEDS FROM THE GLOBAL OFFERING
+• Based on the Offer Price of HK$12.0 per Offer Share (exclusive of brokerage of 1%,
+AFRC transaction levy of 0.00015%, SFC transaction levy of 0.0027% and Stock Exchange
+trading fee of 0.00565%), the net proceeds from the Global Offering to be received by the
+Company, after deduction of the underwriting commissions, fees and estimated expenses
+payable by the Company in connection with the Global Offering, are estimated to be
+approximately HK$3,527.9 million (assuming the Over-allotment Option is not exercised).
+The Company intends to apply such net proceeds in accordance with the purposes as set
+out in the section headed “Net Proceeds from the Global Offering ” in this announcement.
+• If the Over-allotment Option is exercised in full, the Company will receive additional net
+proceeds of approximately HK$567.2 million for 48,982,400 additional Class B Shares to
+be issued and allotted upon the exercise of the Over-allotment Option after deduction of
+the underwriting fees and commissions and estimated expenses payable by the Company
+in connection with the Global Offering. The allocation of the additional net proceeds will
+be adjusted on a pro rata basis according to the use of proceeds as set out in the section
+headed “Net Proceeds from the Global Offering ” in this announcement in the event that the
+Over-allotment Option is exercised.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering
+have been slightly over-subscribed. At the close of the application lists at 12:00 noon
+on Thursday, October 19, 2023, a total of 10,887 valid applications have been received
+pursuant to the Hong Kong Public Offering through the HK eIPO White Form service
+and through the CCASS EIPO service for a total of 44,357,200 Hong Kong Offer Shares,
+representing approximately 1.36 times of the total number of 32,655,200 Hong Kong Offer
+Shares initially available for subscription under the Hong Kong Public Offering.
+• As the over-subscription in the Hong Kong Public Offering represents 15 times or less of
+the total number of Offer Shares initially available under the Hong Kong Public Offering,
+the reallocation procedures as described in the section headed “Structure of the Global
+Offering – The Hong Kong Public Offering – Reallocation ” in the Prospectus have not
+been applied and no International Offer Shares have been reallocated from the International
+Offering to the Hong Kong Public Offering. The final number of Offer Shares allocated to
+the Hong Kong Public Offering is 32,655,200 Class B Shares, representing approximately
+10% of the total number of Offer Shares initially available under the Global Offering
+(before any exercise of the Over-allotment Option), which have been allocated to 10,887
+successful applicants under the Hong Kong Public Offering, among which 4,787 applicants
+have been allotted with one board lot of Offer Shares.
+
+
+--- page 2 ---
+4
+INTERNATIONAL OFFERING
+• The Offer Shares initially offered under the International Offering have been moderately
+over-subscribed. A total of 560,639,540 Offer Shares under the International Offering
+(including the subscription by the Cornerstone investors) have been subscribed,
+representing approximately 1.91 times of the total number of Offer Shares initially
+available under the International Offering. The final number of Offer Shares under the
+International Offering is 293,895,200 Class B Shares, representing approximately 90% of
+the total number of Offer Shares initially available under the Global Offering (before any
+exercise of the Over-allotment Option). There has been an over-allocation of 48,982,400
+Offer Shares in the International Offering.
+• There are a total of 114 placees under the International Offering, among which 51 placees,
+representing approximately 44.74% of the total number of placees under the International
+Offering, have been allotted five or fewer board lots of Offer Shares, totaling 10,200 Class
+B Shares, representing approximately 0.003% of the total number of Offer Shares available
+under the International Offering (before any exercise of the Over-allotment Option).
+Cornerstone Investors
+• Based on the Offer Price of HK$12.0 per Offer Share (exclusive of brokerage of 1%,
+AFRC transaction levy of 0.00015%, SFC transaction levy of 0.0027% and Stock
+Exchange trading fee of 0.00565%), and pursuant to the relevant cornerstone investment
+agreements as disclosed in the section headed “Cornerstone Investors ” in the Prospectus
+(the “Cornerstone Investment Agreements ”), the Cornerstone Investors have subscribed
+for a total of 130,231,000 Offer Shares, representing (i) approximately 39.88% of the Offer
+Shares under the Global Offering; and (ii) approximately 1.48% of the total issued share
+capital of the Company upon Listing (before any exercise of the Over-allotment Option).
+Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further
+details of the Cornerstone Investors.
+• All the Cornerstone Investors are existing Shareholders of the Company or their close
+associates. See the section headed “International Offering – Placing of Offer Shares to
+the Existing Shareholders and their Close Associates ” below for the waivers and consents
+granted to permit the allocation of Class B Shares to the Cornerstone Investors under
+paragraph 5(2) of Appendix 6 to the Listing Rules (the “Placing Guidelines ”).
+• In addition, Dahlia Investments Pte. Ltd. ( “Dahlia ”) is an indirect wholly-owned subsidiary
+of Temasek Holdings (Private) Limited ( “Temasek Holdings ”). Temasek Holdings holds
+approximately 29% equity interest in DBS Group Holdings Limited which indirectly
+wholly owns DBS Asia Capital Limited ( “DBS Asia ”). Accordingly, Dahlia is a connected
+client of DBS Asia (one of the Joint Bookrunners and the Joint Lead Managers) within the
+meaning of the Placing Guidelines. Accordingly, the Company has applied to the Stock
+Exchange for, and the Stock Exchange has granted, its consent under paragraph 5(1) of the
+Placing Guideline to allow the Offer shares to be allocated to Dahlia (or a wholly-owned
+subsidiary of Temasek Holdings) as a connected client of DBS Asia. Please refer to the
+section headed “International Offering – Placing of Offer Shares to Connected Clients ” in
+this announcement for further details.
+
+
+--- page 3 ---
+5
+Placing of Offer Shares to the Existing Shareholders and their Close Associates
+• Each of the Cornerstone Investors is an existing Shareholder or its close associate. In
+addition to the subscription by the Cornerstone Investors, under the International Offering,
+a total of 25,790,600 Offer Shares, representing approximately 7.90% of the total number
+of Offer Shares initially available under the Global Offering and approximately 0.29%
+of the total issued share capital of the Company upon Listing (before any exercise of the
+Over-allotment Option), were placed to our other existing Shareholders or their close
+associates as placees. Please refer to the section headed “International Offering – Placing of
+Offer Shares to the Existing Shareholders and their Close Associates ” in this announcement
+for further details.
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted
+the Company, a waiver from strict compliance with the requirements under Rule 10.04 of
+the Listing Rules, and its consent under paragraph 5(2) of the Placing Guidelines to permit
+allocation of Class B Shares to (i) certain pre-IPO Investors pursuant to the exercise of
+Anti-Dilution Rights as cornerstone investors or placees; and (ii) certain pre-IPO Investors
+and/or their close associates who currently hold less than 5% of the Company ’s voting
+rights and will subscribe Class B Shares in addition to their Anti-Dilution Rights as
+cornerstone investors or placees in the Global Offering. The Offer Shares allocated to the
+Pre-IPO Investors are in compliance with all the conditions under the consent granted by
+the Stock Exchange. Please refer to the section headed “Waivers ” in the Prospectus for
+further details of the waiver application.
+Placing of Offer Shares to Connected Clients
+• Under the International Offering, (i) 6,527,000 Offer Shares, representing approximately
+2.00% of the total number of Offer Shares initially available under the Global Offering and
+approximately 0.07% of the total issued share capital of the Company upon Listing (before
+any exercise of the Over-allotment Option), were allocated to Dahlia (or a wholly-owned
+subsidiary of Temasek Holdings) as a cornerstone investor who is a connected client of
+DBS Asia within the meaning of the Placing Guidelines; and (ii) 6,527,000 Offer Shares,
+representing approximately 2.00% of the total number of Offer Shares initially available
+under the Global Offering and approximately 0.07% of the total issued share capital of the
+Company upon Listing (before any exercise of the Over-allotment Option), were placed to
+Galaxy Jinhui Securities Asset Management Co., Ltd. ( “Galaxy Jinhui ”) as placees who
+is a connected client of China Galaxy International Securities (Hong Kong) Co., Limited
+(“CGIS”) within the meaning of the Placing Guidelines. The Shares to be placed to Galaxy
+Jinhui will be held by it on discretionary basis, and on behalf of an independent third party
+who is not connected to the Company for the purpose of the Listing Rules.
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted
+to the Company, its consent under paragraph 5(1) of the Placing Guidelines to permit the
+Company to allocate Offer Shares in the International Offering to Galaxy Jinhui and Dahlia
+(or a wholly-owned subsidiary of Temasek Holdings). The Offer Shares allocated to Galaxy
+Jinhui and Dahlia (or a wholly-owned subsidiary of Temasek Holdings) are in compliance
+with all the conditions under the consent granted by the Stock Exchange. Please refer to the
+section headed “International Offering – Placing of Offer Shares to Connected Clients ” in
+this announcement for further details.
+
+
+--- page 4 ---
+6
+Confirmations Regarding Public Shareholders in the Hong Kong Public Offering and
+Placees in the International Offering
+• Save as disclosed the sections headed “International Offering – Cornerstone Investors ”,
+“International Offering – Placing of Offer Shares to the Existing Shareholders and their
+Close Associates ” and “International Offering – Placing of Offer Shares to Connected
+Clients ”, the Directors confirmed that, to their best knowledge, information and belief, no
+Offer Shares placed by or through the Overall Coordinators, Joint Global Coordinators,
+the Joint Bookrunners or the Underwriters under the Global Offering have been placed to
+applicants who are core connected persons (as defined in the Listing Rules) or Directors
+of the Company, or to any connected clients (as set out in paragraph 5(1) of the Placing
+Guidelines), or persons set out in paragraph 5(2) of the Placing Guidelines, whether in
+their own names or through nominees. The International Offering is in compliance with the
+Placing Guidelines.
+• Save as disclosed the sections headed “International Offering – Cornerstone Investors ”,
+“International Offering – Placing of Offer Shares to the Existing Shareholders and their
+Close Associates ” and “International Offering – Placing of Offer Shares to Connected
+Clients ”, the Directors further confirm that, to their best knowledge, information and
+belief, all placees under the International Offering and their ultimate beneficial owners are
+independent of and are not (a) the core connected persons (as defined in the Listing Rules)
+of the Company, (b) the directors or existing shareholders of the Company or any of the
+Company ’s subsidiaries, or (c) the close associates (as defined in the Listing Rules) of (a)
+and/or (b) above whether in their own names or through nominees.
+• Save as disclosed the sections headed “International Offering – Cornerstone Investors ”,
+“International Offering – Placing of Offer Shares to the Existing Shareholders and their
+Close Associates ” and “International Offering – Placing of Offer Shares to Connected
+Clients ”, the Directors confirm that, to their best knowledge, information and belief, (i)
+none of the Offer Shares subscribed by public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering has been financed directly or indirectly
+by the Company, any of the Directors, chief executive, the Controlling Shareholders,
+substantial Shareholders or existing Shareholders of the Company or any of its subsidiaries
+or their respective close associates; (ii) none of the public Shareholders in the Hong Kong
+Public Offering and placees in the International Offering who has subscribed for the Offer
+Shares is accustomed to taking instructions from the Company, any of the Directors, chief
+executive, the Controlling Shareholders, substantial Shareholders or existing Shareholders
+of the Company or any of its subsidiaries or their respective close associates in relation to
+the acquisition, disposal, voting or other disposition of the Offer Shares registered in his/
+her/its name or otherwise held by him/her/it; (iii) there is no side agreement or arrangement
+between the Company, any of the Directors, chief executive, the Controlling Shareholders,
+substantial shareholders, existing Shareholders of the Company or any of its subsidiaries or
+their respective close associates, on one hand, and the public subscribers or the placees who
+have subscribed for the Offer Shares, on the other hand; (iv) no rebate has been, directly or
+indirectly, provided by the Company, any of the Directors, chief executive of the Company,
+the Controlling Shareholders, substantial Shareholders or existing Shareholders, or any of
+their subsidiaries or their respective close associates, or syndicate members, or any other
+brokers involved in the Global Offering, to any public investors in the Hong Kong Public
+Offering or placees in the International Offering; and (v) the consideration payable by the
+public investors in the Hong Kong Public Offering and placees in the International Offering
+for each Offer Share subscribed for, or purchased by them, is the same as the Offer Price,
+as determined by the Company, plus brokerage of 1%, AFRC transaction levy of 0.00015%,
+SFC transaction levy of 0.0027% and Hong Kong Stock Exchange trading fee of 0.00565%.
+
+
+--- page 5 ---
+7
+Over-allotment Option
+• In connection with the Global Offering, the Company has granted to the International
+Underwriters the Over-allotment Option, exercisable by the Overall Coordinators on behalf
+of the International Underwriters at any time from the Listing Date to the 30th day after
+the last day for lodging applications under the Hong Kong Public Offering (the last day
+for exercise of the Over-allotment Option being Saturday, November 18, 2023) to require
+the Company to allot and issue up to 48,982,400 additional Class B Shares, representing
+approximately 15% of the Offer Shares initially available under the Global Offering, at the
+Offer Price, to cover over-allocations in the International Offering, if any.
+• There has been an over-allocation of 48,982,400 Offer Shares in the International Offering
+and such over-allocation will be settled by Class B Shares to be borrowed under the Stock
+Borrowing Agreement. Such borrowed Class B Shares will be covered by exercising the
+Over-allotment Option or by using Class B Shares purchased by the Stabilization Manager
+(or through its affiliates or any person acting for it) in the secondary market at prices that
+do not exceed the Offer Price or a combination of these means. In the event the Over-
+allotment Option is exercised, an announcement will be made on the Stock Exchange ’s
+website at www.hkexnews.hk and the Company ’s website at www.jtexpress.com. As of
+the date of this announcement, the Over-allotment Option has not been exercised.
+LOCK -UP UNDERTAKINGS
+• The Company, the Controlling Shareholders, the Cornerstone Investors, all other existing
+Shareholders and certain placees of the International Offering are subject to certain
+lock-up undertakings as set out in the section headed “Lock-up Undertakings ” in this
+announcement.
+RESULTS OF ALLOCATIONS
+• The level of indications of interests in the International Offering, the level of applications
+in the Hong Kong Public Offering and the basis of allocation of the Hong Kong Offer
+Shares are also made available on the Company ’s website at www.jtexpress.com and the
+website of the Stock Exchange at www.hkexnews.hk.
+• The results of allocations and the Hong Kong identity card/passport/Hong Kong business
+registration/certificate of incorporation numbers of successful applicants under the Hong
+Kong Public Offering will be available at the times and date and in the manner specified
+below:
+• in the announcement to be posted on the Company ’s website at www.jtexpress.com
+and the Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on
+Thursday, October 26, 2023;
+• from the “IPO Results ” function in the IPO App and the designated results of
+allocations website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult
+with a “search by ID ” function on a 24-hour basis from 8:00 a.m. on Thursday,
+October 26, 2023 to 12:00 midnight on Wednesday, November 1, 2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between
+9:00 a.m. and 6:00 p.m. from Thursday, October 26, 2023 to Tuesday, October 31,
+2023 (excluding Saturday, Sunday and Hong Kong public holiday).
+
+
+--- page 6 ---
+8
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by HK
+eIPO White Form ” in this announcement refer to Hong Kong identity card numbers/
+passport numbers/Hong Kong business registration numbers/certificate of incorporation
+numbers/beneficial owner identification codes (if such applications are made by nominees
+as agent for the benefit of another person) whereas those displayed in the section headed
+“Results of Applications Made by Giving Electronic Application Instructions to HKSCC
+via CCASS ” in this announcement are provided by CCASS Participants via CCASS.
+Therefore, the identification document numbers shown in the two sections are different in
+nature.
+• Please note that the list of identification document numbers set out in this announcement
+may not be a complete list of successful applicants since only successful applicants whose
+identification document numbers are provided to HKSCC by CCASS Participants or via
+the HK eIPO White From service are disclosed. Applicants with beneficial names only
+but not identification document numbers are not disclosed due to personal privacy issue
+as elaborated below. Applicants who applied for the Hong Kong Offer Shares through
+their brokers or nominees can consult their brokers or nominees to enquire about their
+application results.
+• Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications Made
+by HK eIPO White Form ” and “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” are redacted and not all details of
+applications are disclosed in this announcement.
+DESPATCH/COLLECTION OF SHARE CERTIFICATES/e-AUTO REFUND PAYMENT
+INSTRUCTIONS/REFUND CHECKS
+• Applicants who have applied for 1,000,000 Hong Kong Offer Shares or more through the
+HK eIPO White Form service and whose application is wholly or partially successful may
+collect Share certificate(s) and/or refund check(s) (where applicable) in person from the
+Hong Kong Share Registrar, Tricor Investor Services Limited, at 17/F, Far East Finance
+Centre, 16 Harcourt Road, Hong Kong, from 9:00 a.m. to 1:00 p.m. on Thursday, October
+26, 2023, or any other place or date notified by the Company.
+Applicants being individuals who are eligible for personal collection cannot authorize any
+other person to make collection on their behalf. Corporate applicants which are eligible
+for personal collection must attend by their authorised representatives bearing letters
+of authorisation from their corporations stamped with the corporations ’ chops. Both
+individuals and authorised representatives (if applicable) must produce, at the time of
+collection, evidence of identity acceptable to the Hong Kong Share Registrar.
+If Share certificate(s) and/or refund check(s) (where applicable) are not collected personally
+within the time specified for collection, they will be sent to the address specified in the
+application instructions by ordinary post and at the applicant ’s own risk.
+• For applicants who have applied for less than 1,000,000 Hong Kong Offer Shares through
+the HK eIPO White Form service, the Share certificate(s) and/or refund check(s) (where
+applicable) will be sent to the address specified in the application instructions on or before
+Thursday, October 26, 2023 by ordinary post and at the applicant ’s own risk.
+
+
+--- page 7 ---
+9
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC will have their Share certificate(s) issued in the name of HKSCC
+Nominees Limited and deposited directly into CCASS to be credited to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participant who gave electronic application instructions on their behalf on Thursday,
+October 26, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them with that CCASS Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS may also check the number of Hong Kong Offer
+Shares allocated to them and the amount of refund monies (if any) payable to them
+via the CCASS Phone System and the CCASS Internet System (under the procedures
+contained in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time
+to time). Immediately after the crediting of the Hong Kong Offer Shares to the CCASS
+Investor Participant stock accounts and the credit of refund monies to the CCASS Investor
+Participants ’ bank accounts, HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the amount of Hong Kong Offer Shares credited
+to their CCASS Investor Participant stock accounts and the refund amount credited to their
+respective designated bank accounts (if any).
+• For applicants who have applied for the Hong Kong Offer Shares through the HK eIPO
+White Form service and paid the application monies through a single bank account,
+refund monies (if any) will be despatched to that bank account in the form of e-Auto
+Refund payment instructions. For applicants who have applied for the Hong Kong Offer
+Shares through the HK eIPO White Form service and paid the application monies
+through multiple bank accounts, refund monies (if any) will be despatched to the addresses
+specified in your application instructions in the form of refund check(s) in favour of the
+applicant (or, in the case of joint applications, the first-named applicant) by ordinary post
+and at their own risk on or before Thursday, October 26, 2023.
+• Refund monies (if any) for applicants who applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their broker or custodian on
+Thursday, October 26, 2023.
+• Share certificates will only become valid at 8:00 a.m. on Friday, October 27, 2023,
+provided that the Global Offering has become unconditional in all respects and neither the
+Hong Kong Underwriting Agreement nor the International Underwriting Agreements have
+been terminated in accordance with their respective terms at or before that time. Investors
+who trade Shares on the basis of publicly available allocation details or prior to the receipt
+of the Share certificates or prior to the Share certificates becoming valid do so entirely at
+their own risk.
+• No temporary document of title will be issued in respect of the Hong Kong Offer Shares.
+No receipt will be issued for sums paid on application.
+
+
+--- page 8 ---
+10
+PUBLIC FLOAT
+• Upon Listing, approximately 83.54% of the total issued share capital of the Company
+(before any exercise of the Over-allotment Option) will be counted towards the public
+float, satisfying the minimum percentage prescribed under by 8.08 of the Listing Rules.
+The free float of the Company upon listing is approximately 1.77% of the total issued share
+capital of the Company (before any exercise of the Over-allotment Option).
+• The Directors also confirm that (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 of the Company upon Listing (before
+any exercise of the Over-allotment Option); (iii) the three largest public Shareholders do
+not hold more than 50% of the Shares held 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
+• Assuming that the Global Offering becomes unconditional in all aspects at or before 8:00
+a.m. on Friday, October 27, 2023 (Hong Kong time), dealings in the Class B Shares on
+the Main Board of the Stock Exchange are expected to commence at 9:00 a.m. on Friday,
+October 27, 2023 (Hong Kong time). The Class B Shares will be traded in board lots of
+200 Class B Shares each. The stock code of the Class B Shares is 1519.
+
+
+--- page 9 ---
+11
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$12.0 per Offer Share, the net proceeds from the Global Offering to
+be received by the Company, after deduction of the underwriting commissions, fees and estimated
+expenses payable by the Company in connection with the Global Offering, are estimated to be
+approximately HK$3,527.9 million (assuming the Over-allotment Option is not exercised).
+The Company intends to apply such net proceeds for the following purposes:
+• approximately 30%, or HK$1,058.4 million, will be used to expand our logistics networks,
+improve our infrastructure, and strengthen our sorting and warehouse capacity and
+capabilities in Southeast Asia and other existing markets;
+• approximately 30%, or HK$1,058.4 million, will be used to expand in new markets and
+diverse our service offering;
+• approximately 30%, or HK$1,058.4 million, will be used for research and development and
+technology innovations; and
+• approximately 10%, or HK$352.8 million, will be used for general corporate purposes and
+working capital needs.
+If the Over-allotment Option is exercised in full, the Company will receive additional net proceeds
+of approximately HK$567.2 million for 48,982,400 additional Class B Shares to be issued and
+allotted upon the exercise of the Over-allotment Option after deduction of the underwriting fees
+and commissions and estimated expenses payable by the Company in connection with the Global
+Offering. In the event that the Over-allotment Option is exercised in full, the Company intends to
+adjust its allocation of the net proceeds for the above purposes on a pro rata basis.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
+the Prospectus.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+Hong Kong Public Offering
+The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
+slightly over-subscribed. At the close of the application lists at 12:00 noon on Thursday, October
+19, 2023, a total of 10,887 valid applications have been received pursuant to the Hong Kong Public
+Offering through the HK eIPO White Form service and through the CCASS EIPO service for a
+total of 44,357,200 Hong Kong Offer Shares, representing approximately 1.36 times of the total
+number of 32,655,200 Hong Kong Offer Shares initially available for subscription under the Hong
+Kong Public Offering, among which:
+• 10,873 valid applications in respect of a total of 22,957,200 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount based on the Offer
+Price of HK$12.0 per Offer Share (excluding brokerage of 1%, AFRC transaction levy of
+0.00015%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.00565%)
+of HK$5 million or less, representing approximately 1.41 times of the 16,327,600 Hong Kong
+Offer Shares initially comprised in Pool A of the Hong Kong Public Offering; and
+
+
+--- page 10 ---
+12
+• 14 valid applications in respect of a total of 21,400,000 Hong Kong Offer Shares were for
+the Hong Kong Public Offering with an aggregate subscription amount based on the Offer
+Price of HK$12.0 per Offer Share (excluding brokerage of 1%, AFRC transaction levy of
+0.00015%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.00565%)
+of more than HK$5 million, representing approximately 1.31 times of the 16,327,600 Hong
+Kong Offer Shares initially comprised in Pool B of the Hong Kong Public Offering.
+No multiple or suspected multiple applications have been identified and rejected. No applications
+have been rejected due to dishonored payments. No application has been rejected due to invalid
+application. No applications for more than 50% of the Hong Kong Offer Shares initially available
+under the Hong Kong Public Offering (that is, more than 16,327,600 Hong Kong Offer Shares)
+have been identified.
+As the number of Offer Shares validly applied for under the Hong Kong Public Offering represents
+15 times or less of the number of Offer Shares initially available for subscription under the Hong
+Kong Public Offering, the reallocation procedure as described in the section headed “Structure
+of the Global Offering – The Hong Kong Public Offering – Reallocation ” in the Prospectus has
+not been have not been applied and no International Offer Shares have been reallocated from the
+International Offering to the Hong Kong Public Offering.
+The final number of Offer Shares under the Hong Kong Public Offering is 32,655,200 Class B
+Shares, representing approximately 10% of the total number of Offer Shares initially available
+under the Global Offering (before any exercise of the Over-allotment Option), and being allocated
+to 10,887 successful applicants under the Hong Kong Public Offering. A total number of 4,787
+applicants have been allotted with one board lot of Offer Shares, representing approximately
+43.97% of the Shareholders who were allocated the Offer Shares under the Hong Kong Public
+Offering, totaling 957,400 Class B Shares, representing approximately 2.93% of total Offer Shares
+under the Hong Kong Public Offering.
+The Hong Kong Offer Shares offered in the Hong Kong Public Offering were conditionally
+allocated on the basis set out in the section headed “Basis of Allocation under the Hong Kong
+Public Offering ” below.
+INTERNATIONAL OFFERING
+The Offer Shares initially offered under the International Offering have been moderately over-
+subscribed. A total of 560,639,540 Offer Shares under the International Offering (including the
+subscription by the Cornerstone investors) have been subscribed, representing approximately 1.91
+times of the total number of Offer Shares initially available under the International Offering. The
+final number of Offer Shares under the International Offering is 293,895,200 Class B Shares,
+representing approximately 90% of the total number of Offer Shares initially available under the
+Global Offering (before any exercise of the Over-allotment Option). There has been an over-
+allocation of 48,982,400 Offer Shares in the International Offering.
+There are a total of 114 placees under the International Offering, among which 51 placees,
+representing approximately 44.74% of the total number of placees under the International Offering,
+have been allotted five or fewer board lots of Offer Shares, totaling 10,200 Class B Shares,
+representing approximately 0.003% of the total number of Offer Shares available under the
+International Offering.
+
+
+--- page 11 ---
+13
+Cornerstone Investors
+Based on the Offer Price of HK$12.0 per Offer Share (exclusive of brokerage of 1%, AFRC
+transaction levy of 0.00015%, SFC transaction levy of 0.0027% and Stock Exchange trading fee
+of 0.00565%), and pursuant to the relevant Cornerstone Investment Agreements as disclosed in
+the section headed “Cornerstone Investors ” in the Prospectus, the Cornerstone Investors have
+subscribed for a total of 130,231,000 Offer Shares, representing (i) approximately 39.88% of the
+Offer Shares under the Global Offering; and (ii) approximately 1.48% of the total issued share
+capital of the Company upon Listing (before any exercise of the Over-allotment Option).
+The number of Offer Shares subscribed for by the Cornerstone Investors is set out below:
+Assuming Over-allotment
+Option is not exercised
+Assuming Over-allotment
+Option is exercised
+Cornerstone Investor
+Investment
+amount
+(US$)
+Number of
+Offer Shares
+subscribed
+(rounded down
+to the nearest
+whole board
+lot of 200
+Offer Shares)
+Approximate
+percentage
+of the
+Offer Shares
+initially
+available
+under the
+Global
+Offering
+Approximate
+percentage
+of the total
+issued share
+capital of the
+Company
+immediately
+following the
+completion
+of the Global
+Offering (1)
+Approximate
+percentage
+of the
+Offer Shares
+initially
+available
+under the
+Global
+Offering
+Approximate
+percentage
+of the total
+issued share
+capital of the
+Company
+immediately
+following the
+completion
+of the Global
+Offering (1)
+Aspex Master Fund 10,000,000 6,527,000 2.00% 0.07% 1.74% 0.07%
+Boyu
+Jallion Global Limited 11,000,000 7,179,800 2.20% 0.08% 1.91% 0.08%
+Joyous Tempinis Limited 16,261,530 10,614,000 3.25% 0.12% 2.83% 0.12%
+ Sub-total 27,261,530 17,793,800 5.45% 0.20% 4.74% 0.20%
+D1
+D1 SPV Jupiter (Hong Kong)
+Limited 10,766,491.65 7,027,400 2.15% 0.08% 1.87% 0.08%
+D1 SPV Master Holdco I
+(Hong Kong) Limited 29,496,008.35 19,252,400 5.90% 0.22% 5.13% 0.22%
+ Sub-total 40,262,500 26,279,800 8.05% 0.30% 7.00% 0.30%
+Hidden Hill SPV VIII 5,000,000 3,263,400 1.00% 0.04% 0.87% 0.04%
+SC GGF III Holdco, Ltd. 5,000,000 3,263,400 1.00% 0.04% 0.87% 0.04%
+CELESTIAL OCEAN
+INVESTMENTS LIMITED 30,000,000 19,581,400 6.00% 0.22% 5.21% 0.22%
+Dahlia 10,000,000 6,527,000 2.00% 0.07% 1.74% 0.07%
+
+
+--- page 12 ---
+14
+Assuming Over-allotment
+Option is not exercised
+Assuming Over-allotment
+Option is exercised
+Cornerstone Investor
+Investment
+amount
+(US$)
+Number of
+Offer Shares
+subscribed
+(rounded down
+to the nearest
+whole board
+lot of 200
+Offer Shares)
+Approximate
+percentage
+of the
+Offer Shares
+initially
+available
+under the
+Global
+Offering
+Approximate
+percentage
+of the total
+issued share
+capital of the
+Company
+immediately
+following the
+completion
+of the Global
+Offering (1)
+Approximate
+percentage
+of the
+Offer Shares
+initially
+available
+under the
+Global
+Offering
+Approximate
+percentage
+of the total
+issued share
+capital of the
+Company
+immediately
+following the
+completion
+of the Global
+Offering (1)
+Tencent
+Parallel Cluster Investment
+Limited 12,000,000 7,832,600 2.40% 0.09% 2.09% 0.09%
+Eternal Earn Holding Limited 15,000,000 9,790,600 3.00% 0.11% 2.61% 0.11%
+Huang River Investment
+Limited 35,000,000 22,845,000 7.00% 0.26% 6.08% 0.26%
+ Sub-total 62,000,000 40,468,200 12.39% 0.46% 10.78% 0.46%
+JNRY III HOLDINGS
+LIMITED 10,000,000 6,527,000 2.00% 0.07% 1.74% 0.07%
+Total 199,524,030 130,231,000 39.88% 1.48% 34.68% 1.47%
+Note:
+(1) Assuming the Reclassification, Redesignation and Share Subdivision are completed.
+All the Cornerstone Investors are existing Shareholders of the Company or their close associates.
+See the sections headed “International Offering – Placing of Offer Shares to the Existing
+Shareholders and their Close Associates ” below for the waivers and consents granted to permit the
+allocation of Class B Shares to the Cornerstone Investors.
+
+
+--- page 13 ---
+15
+In addition, Dahlia is an indirect wholly-owned subsidiary of Temasek Holdings. Temasek
+Holdings holds approximately 29% equity interest in DBS Group Holdings Limited which
+indirectly wholly owns DBS Asia. Accordingly, Dahlia is a connected client of DBS Asia (one of
+the Joint Bookrunners and the Joint Lead Managers) within the meaning of the Placing Guidelines.
+Please refer to the section headed “International Offering – Placing of Offer Shares to Connected
+Clients ” in this announcement for further details.
+To the best knowledge of the Company, each of the Cornerstone Investors is (i) not accustomed
+to take instructions from our Company, our Directors, chief executive of our Company, our
+Controlling Shareholders, substantial Shareholders of our Company or other existing Shareholders
+of our Company or any of its subsidiaries or their respective close associates in relation to the
+acquisition, disposal, voting or other disposition of the Shares registered in their name or otherwise
+held by them; (ii) not financed by us, our Directors, chief executive, our Controlling Shareholders,
+substantial Shareholders or other existing Shareholders of our Company or any of its subsidiaries
+or their respective close associates; (iii) independent of the other Cornerstone Investors, our
+Group, our connected persons and their respective associates, and is not a close associate of our
+Group. Further, immediately after the completion of the Global Offering, none of the Cornerstone
+Investors will have any Board representation in our Company, and none of the Cornerstone
+Investors will become a substantial shareholder of our Company. As confirmed by each of the
+Cornerstone Investors, its subscription under the Cornerstone Placing would be financed by its own
+internal financial resources or financial resources of its controlling shareholders.
+There will be no delayed delivery or all Cornerstone Investors do not have deferred settlement of
+Offer Shares to be subscribed by the Cornerstone Investors and the consideration will be settled by
+the Cornerstone Investors before the Listing Date.
+The subscriptions by the Cornerstone Investors form part of the International Offering, and the
+Cornerstone Investors will not subscribe for any Offer Shares under the Global Offering other
+than pursuant to the Cornerstone Investment Agreements. Immediately following the completion
+of the Global Offering, none of the Cornerstone Investors will become a substantial shareholder
+(as defined in the Listing Rules) of our Company and will not have any Board representation in
+our Company. The Offer Shares to be subscribed by the Cornerstone Investors will rank pari passu
+in all respect with the fully paid Class B Shares in issue and will be counted towards the public
+float of the Company under Rule 8.08 of the Listing Rules. The Cornerstone Investors do not have
+any preferential rights under the Cornerstone Investment Agreements compared with other public
+Shareholders, other than a guaranteed allocation of the Offer Shares at the Offer Price.
+Each Cornerstone Investor has agreed that without the prior written consent of the Company, the
+Joint Sponsors and the Overall Coordinators, it will not, whether directly or indirectly, at any
+time during the period of six months following the Listing Date (the “Lock-up Period ”), directly
+or indirectly dispose of, in any way, any of the Offer Shares it has purchased, pursuant to the
+respective Cornerstone Investment Agreement and/or the deed of lock-up undertaking, save for
+certain limited circumstances, such as transfers to any of its wholly-owned subsidiaries who will
+be bound by the same obligations of such Cornerstone Investor, including the Lock-up Period
+restriction.
+Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further details
+relating to the Cornerstone Investors.
+
+
+--- page 14 ---
+16
+Placing of Offer Shares to the Existing Shareholders and their Close Associates
+Each of the Cornerstone Investors is an existing Shareholder or its close associate. In addition
+to the subscription by the Cornerstone Investors, under the International Offering, a total of
+25,790,600 Offer Shares, representing approximately 7.90% of the total number of Offer and
+approximately 0.29% of the total issued share capital of the Company upon Listing (before any
+exercise of the Over-allotment Option), Shares initially available under the Global Offering, were
+placed to our other existing Shareholders or their close associates as placees, details of which are
+set out below:
+Assuming Over-allotment
+Option is not exercised
+Assuming Over-allotment
+Option is exercised
+Placees
+Relationship
+with Existing
+Shareholder(s)
+Number
+of Offer
+Shares
+Placed
+Approximate
+percentage
+of the
+Offer Shares
+initially
+available
+under the
+Global
+Offering
+Approximate
+percentage
+of the total
+issued share
+capital of the
+Company
+immediately
+following the
+completion
+of the Global
+Offering (1)
+Approximate
+percentage
+of the Offer
+Shares
+initially
+available
+under the
+Global
+Offering
+Approximate
+percentage
+of the total
+issued share
+capital of the
+Company
+immediately
+following the
+completion
+of the Global
+Offering (1)
+Focustar Capital Investment
+ Fund L.P Existing shareholder 6,439,400 1.97% 0.07% 1.71% 0.07%
+Hidden Hill Investment 123 Existing shareholder 2,284,400 0.70% 0.03% 0.61% 0.03%
+Sai Growth Fund I, LLLP Existing shareholder 4,569,000 1.40% 0.05% 1.22% 0.05%
+Ultra Height Fund L.P. Existing shareholder 1,728,000 0.53% 0.02% 0.46% 0.02%
+GCM Grosvenor JT SPV, LLC Existing shareholder 10,769,800 3.30% 0.12% 2.87% 0.12%
+Total 25,790,600 7.90% 0.29% 6.87% 0.29%
+Note:
+(1) Assuming the Reclassification, Redesignation and Share Subdivision are completed.
+A total number of 160,887,200 Class B Shares were allocated to Subscription Pre-IPO Shareholders
+and/or their designated entities, representing approximately 49.27% of total Offer Shares initially
+available under the Global Offering and approximately 1.83% of the total issued share capital of
+the Company upon Listing (before any exercise of the Over-allotment Option).
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, to the
+Company, a waiver from strict compliance with the requirements under Rule 10.04 of the Listing
+Rules, and its consent under Paragraph 5(2) of the Placing Guidelines to permit allocation of
+Class B Shares to (i) certain pre-IPO investors pursuant to the exercise of Anti-Dilution Rights as
+cornerstone investors or placees; and (ii) certain pre-IPO investors and/or their close associates
+who currently hold less than 5% of the Company ’s voting rights and will subscribe Class B Shares
+in addition to their Anti-Dilution Rights as cornerstone investors or placees in the Global Offering.
+The Offer Shares allocated to the Pre-IPO Investors are in compliance with all the conditions under
+the consent granted by the Stock Exchange. Please refer to the section headed “Waivers ” in the
+Prospectus for further details of the waiver application.
+
+
+--- page 15 ---
+17
+Placing of Offer Shares to Connected Clients
+Under the International Offering, (i) 6,527,000 Offer Shares, representing approximately 2.00% of
+the total number of Offer Shares initially available under the Global Offering and approximately
+0.07% of the total issued share capital of the Company upon Listing (before any exercise of the
+Over-allotment Option), were allocated to Dahlia (or a wholly-owned subsidiary of Temasek
+Holdings) as a cornerstone investor who is a connected client of DBS Asia within the meaning
+of the Placing Guidelines; and (ii) 6,527,000 Offer Shares, representing approximately 2.00% of
+the total number of Offer Shares initially available under the Global Offering and approximately
+0.07% of the total issued share capital of the Company upon Listing (before any exercise of the
+Over-allotment Option), were placed to Galaxy Jinhui as a placee who is a connected client of
+a CGIS within the meaning of the Placing Guidelines. The Shares to be placed to Galaxy Jinhui
+will be held by it on discretionary basis, and on behalf of an independent third party who are not
+connected to the Company for the purpose of the Listing Rules. Set out below the details of the
+Offer Shares placed to connected clients:
+Investor
+Connected
+syndicate
+member or
+distributor
+Relationship
+with the
+connected
+syndicate
+member or
+distributor
+Number of
+Offer Shares
+placed
+Approximate %
+of the
+Offer Shares
+initially
+available
+under the
+Global
+Offering (1)
+Approximate %
+of the
+total issued
+share capital
+immediately
+following the
+completion
+of Global
+Offering (2)
+Galaxy Jinhui (3) CGIS Each of Galaxy Jinhui and
+CGIS is a wholly-owned
+subsidiary of China Galaxy
+Securities Co., Ltd.
+6,527,000 2.00% 0.07%
+Dahlia (or a wholly-owned
+subsidiary of Temasek
+Holdings)
+DBS Asia Dahlia is an indirect wholly-
+owned subsidiary of
+Temasek Holdings.
+Temasek Holdings holds
+approximately 29% equity
+interest in DBS Group
+Holdings Limited which
+indirectly wholly owns
+DBS Asia.
+6,527,000 2.00% 0.07%
+Notes:
+(1) Assuming that the Over-allotment Option is not exercised.
+(2) Assuming the Over-allotment Option is not exercised, and the Reclassification, Redesignation and Share
+Subdivision are completed.
+(3) Galaxy Jinhui was engaged by Huitongda Network Co., Ltd. (stock code: 9878) as an asset manager that is a
+qualified domestic institutional investor (QDII) as approved by the relevant PRC authority, to subscribe for and
+hold such number of Offer Shares as set out herein on a discretionary basis on behalf of Huitongda Network
+Co., Ltd..
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to the
+Company, its consent under paragraph 5(1) of the Placing Guidelines to permit the Company to
+allocate Offer Shares in the International Offering to Galaxy Jinhui and Dahlia (or a wholly-owned
+subsidiary of Temasek Holdings). The Offer Shares allocated to Galaxy Jinhui and Dahlia (or a
+wholly-owned subsidiary of Temasek Holdings) are in compliance with all the conditions under the
+consent granted by the Stock Exchange.
+
+
+--- page 16 ---
+18
+Confirmations regarding Public Shareholders in the Hong Kong Public Offering and Placees
+in the International Offering
+Save as disclosed the sections headed “International Offering – Cornerstone Investors ”,
+“International Offering – Placing of Offer Shares to the Existing Shareholders and their Close
+Associates ” and “International Offering – Placing of Offer Shares to Connected Clients ”, the
+Directors confirmed that, to the best knowledge, information and belief, no Offer Shares placed
+by or through the Overall Coordinators, Joint Global Coordinators, the Joint Bookrunners or he
+Underwriters under the Global Offering have been placed to applicants who are core connected
+persons (as defined in the Listing Rules) or Directors of the Company, or to any connected clients
+(as set out in paragraph 5(1) of the Placing Guidelines), or persons set out in paragraph 5(2) of the
+Placing Guidelines, whether in their own names or through nominees. The International Offering is
+in compliance with the Placing Guidelines.
+Save as disclosed the sections headed “International Offering – Cornerstone Investors ”,
+“International Offering – Placing of Offer Shares to the Existing Shareholders and their Close
+Associates ” and “International Offering – Placing of Offer Shares to Connected Clients ”, the
+Directors further confirm that, to their best knowledge, information and belief, all placees under
+the International Offering and their ultimate beneficial owners are independent of and are not (a)
+the core connected persons (as defined in the Listing Rules) of the Company, (b) the directors
+or existing shareholders of the Company or any of the Company ’s subsidiaries, or (c) the close
+associates (as defined in the Listing Rules) of (a) and/or (b) above whether in their own names or
+through nominees.
+Save as disclosed the sections headed “International Offering – Cornerstone Investors ”,
+“International Offering – Placing of Offer Shares to the Existing Shareholders and their Close
+Associates ” and “International Offering – Placing of Offer Shares to Connected Clients ”, the
+Directors confirm that, to the best knowledge, information and belief, (i) none of the Offer
+Shares subscribed by public Shareholders in the Hong Kong Public Offering and placees in
+the International Offering has been financed directly or indirectly by the Company, any of the
+Directors, chief executive, the Controlling Shareholders, substantial Shareholders or existing
+Shareholders of the Company or any of its subsidiaries or their respective close associates; (ii)
+none of the public Shareholders in the Hong Kong Public Offering and placees in the International
+Offering who has subscribed for the Offer Shares is accustomed to taking instructions from
+the Company, any of the Directors, chief executive, the Controlling Shareholders, substantial
+Shareholders or existing Shareholders of the Company or any of its subsidiaries or their
+respective close associates in relation to the acquisition, disposal, voting or other disposition of
+the Offer Shares registered in his/her/its name or otherwise held by him/her/it; (iii) there is no
+side agreement or arrangement between the Company, any of the Directors, chief executive, the
+Controlling Shareholders, substantial shareholders, existing Shareholders of the Company or any
+of its subsidiaries or their respective close associates, on one hand, and the public subscribers
+or the placees who have subscribed for the Offer Shares, on the other hand; (iv) no rebate has
+been, directly or indirectly, provided by the Company, any of the Directors, chief executive of
+the Company, the Controlling Shareholders, substantial Shareholders or existing Shareholders,
+or any of their subsidiaries or their respective close associates, or syndicate members, or any
+other brokers involved in the Global Offering, to any public investors in the Hong Kong Public
+Offering or placees in the International Offering; and (v) the consideration payable by the public
+investors in the Hong Kong Public Offering and placees in the International Offering for each
+Offer Share subscribed for, or purchased by them, is the same as the Offer Price as determined by
+the Company, plus brokerage of 1%, AFRC transaction levy of 0.00015%, SFC transaction levy of
+0.0027% and Hong Kong Stock Exchange trading fee of 0.00565%.
+
+
+--- page 17 ---
+19
+Over-allotment Option
+In connection with the Global Offering, the Company has granted to the International Underwriters
+the Over-allotment Option, exercisable by the Overall Coordinators on behalf of the International
+Underwriters at any time from the Listing Date to the 30th day after the last day for lodging
+applications under the Hong Kong Public Offering (the last day for exercise of the Over-allotment
+Option being Saturday, November 18, 2023) to require the Company to allot and issue up to
+48,982,400 additional Class B Shares, representing approximately 15% of the Offer Shares
+initially available under the Global Offering, at the Offer Price, to cover over-allocations in the
+International Offering, if any.
+There has been an over-allocation of 48,982,400 Offer Shares in the International Offering
+and such over-allocation will be settled by Shares to be borrowed under the Stock Borrowing
+Agreement. Such borrowed Shares will be covered by exercising the Over-allotment Option or
+by using Class B Shares purchased by the Stabilization Manager (or through its affiliates or any
+person acting for it) in the secondary market at prices that do not exceed the Offer Price or a
+combination of these means. In the event the Over-allotment Option is exercised, an announcement
+will be made on the Stock Exchange ’s website at www.hkexnews.hk and the Company ’s website
+at www.jtexpress.com. As of the date of this announcement, the Over-allotment Option has not
+been exercised.
+LOCK-UP UNDERTAKINGS
+The Company, the Controlling Shareholders, the Cornerstone Investors, all existing Shareholders
+and certain placees of the International Offering have provided certain lock-up undertakings (the
+“Lock-up Undertakings ”) in respect of the Shares. The major terms of the Lock-up Undertakings
+are set out as follows.
+Name
+Number of Shares
+subject to the
+Lock-up
+Undertakings
+upon Listing (1)
+Approximate
+percentage of the
+total issued share
+capital of the
+Company following
+the completion of
+the Global Offering
+which are subject
+to the Lock-up
+Undertakings upon
+Listing (1)
+Last day of the
+lock-up period
+The Company
+ (subject to lock-up obligations
+ pursuant to the Listing
+ Rules and the Hong Kong
+ Underwriting Agreement)
+N/A N/A April 26, 2024 (2)
+Controlling Shareholders
+ (subject to lock-up obligations
+ pursuant to the Listing
+ Rules and the lock-up
+ undertakings in favour of the
+ Company, the Joint Sponsors and
+ the Overall Coordinators)
+979,333,410
+ Class A Shares
+11.11% April 26, 2024
+ (First Six-Month
+ Period)
+October 26, 2024
+ (Second Six-Month
+ Period) (3)
+
+
+--- page 18 ---
+20
+Name
+Number of Shares
+subject to the
+Lock-up
+Undertakings
+upon Listing (1)
+Approximate
+percentage of the
+total issued share
+capital of the
+Company following
+the completion of
+the Global Offering
+which are subject
+to the Lock-up
+Undertakings upon
+Listing (1)
+Last day of the
+lock-up period
+All existing Shareholders
+ (except Controlling
+ Shareholders and Offer
+ Shares allocated to existing
+ Shareholders as Cornerstone
+ Investors) (subject to lock-up
+ obligations pursuant to their
+ respective lock-up undertakings
+ in favour of the Company, the
+ Joint Sponsors and the Overall
+ Coordinators)
+7,532,073,025
+ Class B
+ Shares (9)
+85.47% April 26, 2024 (4)
+The Cornerstone Investors (5)
+ (subject to lock-up obligations
+ pursuant to their respective
+ Cornerstone Investment
+ Agreement and/or lock-up
+ undertakings in favour of the
+ Company, the Joint Sponsors
+ and the Overall Coordinators)
+130,231,000
+ Class B
+ Shares
+1.48% April 26, 2024 (6)
+Certain placees of
+ International Offering
+– Entities designated by
+Ultra Height Fund L.P. to
+subscribe for Offer Shares
+(i.e. Kings Court Capital
+Pte. Ltd., Welight Assets
+Limited, Hongshan Limited,
+WT Asset Management
+Limited) (collectively, the
+“ATM Designated Entities ”)
+(subject to lock-up obligations
+pursuant to its lock-up
+undertaking in favour of the
+Company, the Joint Sponsors
+and the Overall Coordinators)
+4,865,600
+ Class B
+ Shares
+0.06% April 26, 2024 (7)
+
+
+--- page 19 ---
+21
+Name
+Number of Shares
+subject to the
+Lock-up
+Undertakings
+upon Listing (1)
+Approximate
+percentage of the
+total issued share
+capital of the
+Company following
+the completion of
+the Global Offering
+which are subject
+to the Lock-up
+Undertakings upon
+Listing (1)
+Last day of the
+lock-up period
+– Inceptio Group Limited
+(“Inceptio Technology ”)
+(subject to lock-up obligations
+pursuant to its lock-up
+undertaking in favour of the
+Company, the Joint Sponsors and
+the Overall Coordinators)
+9,564,200
+ Class B
+ Shares
+0.11% April 26, 2024 (8)
+Total 979,333,410
+ Class A
+ Shares and
+ 7,676,733,825
+ Class B shares
+98.23%
+Notes:
+1. Assuming the Over-allotment Option is not exercised, and the Reclassification, Redesignation and Share
+Subdivision are completed.
+2. The Company may not issue Shares on or before the indicated date except otherwise permitted by the Listing
+Rules.
+3. The Controlling Shareholders stated herein shall not (a) dispose of any of the relevant securities of the Company
+in the First Six-Month Period; (b) dispose of any of the relevant securities of the Company in the Second Six-
+Month Period if immediately following such disposal the Controlling Shareholders would cease to be a group of
+controlling shareholders (as defined in the Listing Rules) of the Company.
+4. All the Company ’s existing Shareholders have entered into deeds of lock-up undertakings in favor of the
+Company, the Joint Sponsors and the Overall Coordinators pursuant to which they shall not dispose of its
+locked-up Shares on or before the indicated date.
+5. Calculated based on the number of Offer Shares subscribed pursuant to the relevant Cornerstone Investment
+Agreements only and without taking into account the existing Class B Shares held by the Cornerstone Investors.
+6. The Cornerstone Investors shall not dispose of any of the Offer Shares subscribed pursuant to the Cornerstone
+Investment Agreements and/or the lock-up undertakings on or before the indicated date.
+7. The ATM Designated Entities are entities designated by Ultra Height Fund L.P., a Subscription Commitment
+Shareholder, to subscribe for the Offer Shares. Each of the ATM Designated Entities are limited partners of
+Ultra Height Fund L.P. holding less than 30% limited partnership interest, and is not a close associate of Ultra
+Height Fund L.P.. To the best knowledge of the Company, the ultimate beneficial owner(s) of each of the ATM
+Designated Entities are independent of the Company, the Controlling Shareholders and the Directors. The ATM
+Designated Entities have entered into deeds of lock-up undertakings in favor of the Company, the Joint Sponsors
+and the Overall Coordinators pursuant to which they shall not dispose of its locked-up Shares on or before the
+indicated date. The number of Offer Shares allocated to the ATM Designated Entities represents approximately
+1.49% of the total number of Offer Shares initially available under the Global Offering and approximately
+0.06% of the total issued share capital of the Company upon Listing (before any exercise of the Over-allotment
+Option).
+
+
+--- page 20 ---
+22
+8. See “Further details in respect of placing of Offer Shares to Inceptio Technology and the lock up arrangement ”
+below.
+9. Calculated based on (i) 7,506,282,425 existing Class B Shares held by the existing Shareholders (except the
+Controlling Shareholders) prior to the Global Offering (assuming the Reclassification, Redesignation and Share
+Subdivision are completed), and (ii) 25,790,600 Class B Shares placed to the existing Shareholders (except
+Controlling Shareholders and Offer Shares allocated to existing Shareholders as cornerstone investors) as
+placees pursuant to the Global Offering.
+Further details in respect of placing of Offer Shares to Inceptio Technology and the lock up
+arrangement
+The Company has placed 9,564,200 Offer Shares to Inceptio Technology, representing
+approximately 2.93% of the Offer Shares initially available under the Global Offering and 0.11%
+of the total issued share capital of the Company immediately following the completion of the
+Global Offering.
+Inceptio Technology is China ’s leading developer of autonomous driving technologies for heavy-
+duty trucks. Its flagship technology is the Inceptio Autonomous Driving System, a proprietary
+L3 and L4 full-stack solution. Inceptio partners with leading OEMs to roll out mass-produced L3
+autonomous truck. These trucks have been operated nationwide for line-haul logistics in China.
+Inceptio Technology has undertaken that, without the prior written consent of the Company,
+it will not, at any time during the period of six months following the Listing Date, directly or
+indirectly dispose of, in any way, any of the Offer Shares it has purchased, save for certain limited
+circumstances, such as transfer to any of its wholly-owned subsidiaries who will be bound by the
+same obligations of Inceptio Technology.
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the section headed “Structure of the Global
+Offering – Conditions of the Global Offering ” in the Prospectus, 10,887 valid applications made
+by the public through the HK eIPO White Form service and the CCASS EIPO service will be
+conditionally allocated on the basis set out below:
+Number of
+Hong Kong Offer
+Shares applied for
+No. of valid
+ applications
+Basis of
+allotment/ballot
+Approximate
+percentage allotted
+of the total number
+ of Hong Kong Offer
+ Shares applied for
+POOL A
+200 4,787 200 Shares 100.00%
+400 1,752 400 Shares 100.00%
+600 1,093 600 Shares 100.00%
+800 424 800 Shares 100.00%
+1,000 622 1,000 Shares 100.00%
+1,200 161 1,200 Shares 100.00%
+1,400 116 1,400 Shares 100.00%
+1,600 168 1,600 Shares 100.00%
+1,800 82 1,800 Shares 100.00%
+2,000 552 2,000 Shares 100.00%
+
+
+--- page 21 ---
+23
+Number of
+Hong Kong Offer
+Shares applied for
+No. of valid
+ applications
+Basis of
+allotment/ballot
+Approximate
+percentage allotted
+of the total number
+ of Hong Kong Offer
+ Shares applied for
+3,000 178 3,000 Shares 100.00%
+4,000 184 4,000 Shares 100.00%
+5,000 133 5,000 Shares 100.00%
+6,000 77 6,000 Shares 100.00%
+7,000 34 7,000 Shares 100.00%
+8,000 64 8,000 Shares 100.00%
+9,000 31 9,000 Shares 100.00%
+10,000 191 10,000 Shares 100.00%
+20,000 87 13,400 Shares 67.00%
+30,000 26 16,800 Shares 56.00%
+40,000 27 20,200 Shares 50.50%
+50,000 19 23,600 Shares 47.20%
+60,000 11 27,000 Shares 45.00%
+70,000 5 30,400 Shares 43.43%
+80,000 12 33,800 Shares 42.25%
+90,000 5 37,200 Shares 41.33%
+100,000 19 40,600 Shares 40.60%
+200,000 5 80,000 Shares 40.00%
+300,000 6 119,200 Shares 39.73%
+400,000 2 158,400 Shares 39.60%
+TOTAL: 10,873
+Total number of
+Pool A successful
+applicants: 10,873
+POOL B
+500,000 7 382,000 Shares 76.40%
+600,000 1 458,200 Shares 76.37%
+700,000 1 534,400 Shares 76.34%
+800,000 2 610,600 Shares 76.33%
+1,000,000 1 763,200 Shares 76.32%
+2,000,000 1 1,525,400 Shares 76.27%
+12,000,000 1 9,151,200 Shares 76.26%
+TOTAL: 14
+Total number of
+Pool B successful
+applicants: 14
+The final number of Offer Shares comprising the Hong Kong Public Offering is 32,655,200
+Class B Shares, representing approximately 10% of the total number of the Offer Shares initially
+available under the Global Offering (before any exercise of the Over-allotment Option).
+
+
+--- page 22 ---
+24
+RESULTS OF ALLOCATIONS
+The level of indications of interests in the International Offering, the level of applications in the
+Hong Kong Public Offering and the basis of allocation of the Hong Kong Offer Shares are also
+made available on the Company ’s website at www.jtexpress.com and the website of the Stock
+Exchange at www.hkexnews.hk.
+The results of allocations and the Hong Kong identity card/passport/Hong Kong business
+registration/certificate of incorporation numbers of successful applicants under the Hong Kong
+Public Offering will be available at the times and date and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.jtexpress.com and the
+Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on Thursday,
+October 26, 2023;
+• from the “IPO Results ” function in the IPO App and the designated results of allocations
+website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search
+by ID ” function on a 24-hour basis from 8:00 a.m. on Thursday, October 26, 2023 to 12:00
+midnight on Wednesday, November 1, 2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between 9:00
+a.m. and 6:00 p.m. from Thursday, October 26, 2023 to Tuesday, October 31, 2023 (excluding
+Saturday, Sunday and Hong Kong public holiday).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White Form ”
+in this announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner identification
+codes (if such applications are made by nominees as agent for the benefit of another person)
+whereas those displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS
+Participants via CCASS. Therefore, the identification document numbers shown in the two sections
+are different in nature.
+Please note that the list of identification document numbers set out in this announcement may not
+be a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants or via the HK eIPO White
+Form service are disclosed. Applicants with beneficial names only but not identification document
+numbers are not disclosed due to personal privacy issue as elaborated below. Applicants who
+applied for the Hong Kong Offer Shares through their brokers or nominees can consult their
+brokers or nominees to enquire about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK eIPO
+White Form ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 23 ---
+25
+SHAREHOLDING CONCENTRATION ANALYSIS
+The tables below set out the analysis of shareholding concentration in the International Offering:
+• subscription of Class B Shares held by the top 1, 5, 10, 20 and 25 of the placees out of the
+International Offer Shares, total Offer Shares and total issued share capital of the Company
+upon Listing:
+Assuming the Over-Allotment Option
+is not exercised
+Assuming the Over-Allotment Option
+is fully exercised
+Placee
+Number of
+Class B Shares
+subscribed for
+Total
+number of
+Shares held
+upon
+Listing (1)
+Number of
+Class B Shares
+subscribed for
+as % of the
+total number
+of the
+International
+Offer Shares
+Number of
+Class B Shares
+subscribed for
+as % of the
+Offer Shares
+Under the
+Global
+Offering
+Number of
+Shares held
+upon Listing
+as % of the
+total issued
+share capital of
+the Company
+upon Listing
+Number of
+Class B Shares
+subscribed for
+as % of the
+total number
+of the
+International
+Offer Shares
+Number of
+Class B Shares
+subscribed for
+as % of the
+Offer Shares
+Under the
+Global
+Offering
+Number of
+Shares held
+upon Listing
+as % of the
+total issued
+share capital
+of the
+Company
+upon Listing
+Top 1 58,744,400 58,744,400 19.99% 17.99% 0.67% 17.13% 15.64% 0.66%
+Top 5 179,681,800 1,109,496,375 61.14% 55.02% 12.59% 52.40% 47.85% 12.52%
+Top 10 254,044,200 1,809,570,855 86.44% 77.80% 20.53% 74.09% 67.65% 20.42%
+Top 20 319,573,000 2,390,734,600 108.74% 97.86% 27.13% 93.20% 85.10% 26.98%
+Top 25 330,994,800 2,562,282,565 112.62% 101.36% 29.08% 96.53% 88.14% 28.92%
+Note:
+(1) The total number of Shares held upon Listing by the top 25 placees is grouped based on their ultimate beneficial
+owner.
+• For the total number of Shares held by the top 1, 5, 10, 20 and 25 of the Shareholders upon
+Listing:
+Assuming the Over-Allotment Option
+is not exercised
+Assuming the Over-Allotment Option
+is fully exercised
+Shareholders
+Number of
+Class B Shares
+subscribed for
+Total number
+of Shares
+held upon
+Listing (1)
+Number of
+Class B Shares
+subscribed for
+as % of the
+total number
+of the
+International
+Offer Shares
+Number of
+Class B Shares
+subscribed for
+as % of the
+Offer Shares
+Under the
+Global
+Offering
+Number of
+Shares held
+upon Listing
+as% of the
+total issued
+share capital
+of the
+Company
+upon Listing
+Number of
+Class B Shares
+subscribed for
+as % of the
+total number
+of the
+International
+Offer Shares
+Number of
+Class B Shares
+subscribed for
+as % of the
+Offer Shares
+Under the
+Global
+Offering
+Number of
+Shares held
+upon Listing
+as % of the
+ total issued
+share capital
+of the
+Company
+upon Listing
+Top 1 – 979,333,410 – – 11.11% – – 11.05%
+Top 5 59,990,000 2,939,184,925 20.41% 18.37% 33.35% 17.50% 15.97% 33.17%
+Top 10 59,990,000 4,637,501,730 20.41% 18.37% 52.63% 17.50% 15.97% 52.34%
+Top 20 115,641,600 6,810,018,470 39.35% 35.41% 77.28% 33.73% 30.79% 76.85%
+Top 25 129,674,800 7,431,673,440 44.12% 39.71% 84.33% 37.82% 34.53% 83.87%
+Note:
+(1) The total number of Shares held upon Listing by the top 25 shareholders is grouped based on their ultimate
+beneficial owner.
diff --git a/data/extracted_text/01541/allotment_results_summary_2023-09-04_2023090400008.txt b/data/extracted_text/01541/allotment_results_summary_2023-09-04_2023090400008.txt
new file mode 100644
index 0000000..cbaf65a
--- /dev/null
+++ b/data/extracted_text/01541/allotment_results_summary_2023-09-04_2023090400008.txt
@@ -0,0 +1,1085 @@
+--- page 1 ---
+– 3 –
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+The Offer Price is HK$18.60 per H Share (exclusive of brokerage of 1%, SFC transaction
+levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy of
+0.00015%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$18.60 per H Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees
+and commissions and estimated expenses payable by the Company in connection
+with the Global Offering, are estimated to be approximately HK$234.5 million
+(assuming the Over-allotment Option is not exercised). Listing expenses to be borne
+by the Company are estimated to be approximately HK$84.4 million (including
+underwriting commission, at the Offer Price of HK$18.60 per H Share), which
+represent 26.5% of the gross proceeds from the Global Offering, comprising
+underwriting-related fees of RMB11.7 million, and non-underwriting-related
+expenses of RMB66.0 million. The Company intends to use the net proceeds from
+the Global Offering in the manner as set out in the paragraph headed “Net Proceeds
+from the Global Offering” in this announcement.
+• If the Over-allotment Option is partially exercised, the net proceeds of the Global
+Offering would increase to approximately HK$251.3 million for 917,800 additional
+Offer Shares to be issued and alloted upon the exercise of the Over-allotment Option,
+after deduction of the underwriting fees and commissions and estimated expenses
+payable by the Company in connection with the Global Offering (based on the
+Offer Price of HK$18.60 per H Share), which will be allocated on a pro rata basis
+according to the use of proceeds as set out in the paragraph headed “Net Proceeds
+from the Global Offering” in this announcement.
+Applications and Indications of Interest Received in the Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering
+have been moderately over-subscribed. A total of 4,870 valid applications have
+been received pursuant to the Hong Kong Public Offering through the White Form
+eIPO service and giving electronic application instructions to HKSCC for a total of
+17,115,000 Hong Kong Offer Shares, representing approximately 9.98 times of the
+total number of 1,714,800 H Shares initially available for subscription under the
+Hong Kong Public Offering.
+
+
+--- page 2 ---
+– 4 –
+• As the over-subscription in the Hong Kong Public Offering is less than 15 times, no
+reallocation of Offer Shares has been effected from the International Offering to the
+Hong Kong Public Offering.
+• The final number of Offer Shares under the Hong Kong Public Offering is
+1,714,800 H Shares, representing approximately 10% of the total number of Offer
+Shares initially available under the Global Offering (before any exercise of the
+Over-allotment Option), and being allocated to 1,655 successful applicants under the
+Hong Kong Public Offering, among which 1,346 applicants have been allotted one
+board lot of Offer Shares totalling 269,200 H Shares.
+International Offering
+• The Offer Shares initially offered under the International Offering have been slightly
+over-subscribed, representing approximately 1.06 times of the total number of Offer
+Shares initially available under the International Offering. The final number of Offer
+Shares allocated to the placees under the International Offering is 15,432,400 H
+Shares, representing approximately 90% of the total number of Offer Shares initially
+available under the Global Offering (before any exercise of the Over-allotment
+Option). There has been an over-allocation of 917,800 Offer Shares and there are a
+total of 161 placees under the International Offering, among which 149 placees have
+been allotted five or fewer board lots of Offer Shares totalling 29,800 H Shares,
+representing approximately 92.5% of the total number of placees and approximately
+0.19% of the total number of Offer Shares initially available under the International
+Offering. The Directors confirm that no placee will, individually, be placed more
+than 10% of the enlarged issued share capital of the Company immediately after
+completion of the Global Offering.
+
+
+--- page 3 ---
+– 5 –
+Cornerstone Investors
+• To the best knowledge of the Company and save for the fact that one Cornerstone
+Investor, namely RemeGen HK is a close associates of an existing Shareholders
+of the Company, Rongchang Chuangtou, (i) none of the Offer Shares subscribed
+for by public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering has been financed directly or indirectly by the Company,
+the Directors, Supervisors, chief executive, substantial Shareholders, existing
+Shareholders or any of their subsidiaries or their respective close associates, and (ii)
+none of the public Shareholders in the Hong Kong Public Offering and placees in
+the International Offering who has subscribed for the Offer Shares is accustomed to
+taking instructions from the Company, the Directors, Supervisors, chief executive,
+substantial Shareholders, existing Shareholders or any of their subsidiaries or their
+respective close associates in relation to the acquisition, disposal, voting or other
+disposition of the H Shares registered in their name or otherwise held by them.
+• Based on the Offer Price of HK$18.60 per H Share (exclusive of brokerage of
+1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565%
+and AFRC transaction levy of 0.00015%), pursuant to the relevant Cornerstone
+Investment Agreements, the Company’s Cornerstone Investors have subscribed for
+a total of 12,485,200 H Shares, (i) representing approximately 72.81% of the Offer
+Shares pursuant to the Global Offering and approximately 3.35% of the total issued
+share capital of the Company immediately upon completion of the Global Offering
+(assuming the Over-allotment Option is not exercised); and (ii) approximately
+69.11% of the Offer Shares pursuant to the Global Offering and approximately
+3.34% of the total issued share capital of the Company immediately upon completion
+of the Global Offering (assuming the Over-allotment Option is partially exercised up
+to 917,800 Offer Shares). Please refer to the section headed “Cornerstone Investors”
+in the Prospectus for further details of the Cornerstone Investors.
+• Under the International Offering, a total of 1,129,000 Offer Shares were allocated to
+RemeGen HK, a close associate of an existing Shareholder, Rongchang Chuangtou,
+(i) representing approximately 6.58% of the Offer Shares pursuant to the Global
+Offering and approximately 0.30% of the total issued share capital of the Company
+immediately upon completion of the Global Offering (assuming the Over-allotment
+Option is not exercised); and (ii) approximately 6.25% of the Offer Shares pursuant
+to the Global Offering and approximately 0.30% of the total issued share capital of
+the Company immediately upon completion of the Global Offering (assuming the
+Over-allotment Option is partially exercised up to 917,800 Offer Shares).
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has
+granted, a waiver and consent under Rules 10.04, and a consent under Paragraph 5(2)
+of Appendix 6 to, the Listing Rules (the “Placing Guidelines”) to allow RemeGen
+HK, a close associate of an existing shareholder of the Company, to participate as a
+cornerstone investor in the Global Offering.
+
+
+--- page 4 ---
+– 6 –
+Over-allotment Option
+• In connection with the Global Offering, the Company has granted the Over-allotment
+Option to the International Underwriters, exercisable by the Overall Coordinators
+on behalf of the International Underwriters at any time from the Listing Date until
+30 days after the last day for lodging applications under the Hong Kong Public
+Offering. Pursuant to the Over-allotment Option, the Overall Coordinators have
+the right to require the Company to issue and allot up to an aggregate of 2,572,000
+additional Offer Shares, representing approximately 15% of the initial number of
+Offer Shares to be offered in the Global Offering, at Offer Price to, among other
+things, cover over-allocation in the International Offering.
+• There has been an over-allocation of 917,800 Offer Shares in the International
+Offering. Such over-allocation may be covered by exercising the Over-allotment
+Option in part or by making purchases in the secondary market or a combination of
+these means. In the event the Over-allotment Option is exercised, an announcement
+will be made on the Stock Exchange’s website at www.hkexnews.hk and the
+Company’s website at www.immuneonco.com. As of the date of this announcement,
+the Over-allotment Option has not been exercised.
+Lock-up Obligations
+• The Company, the Controlling Shareholders, the existing Shareholders and the
+Cornerstone Investors of the Company are subject to certain lock-up obligations as
+set out in the paragraph headed “Lock-up Obligations” in this announcement.
+Results of Allocations
+The Offer Price, the level of indications of interest in the International Offering, the results
+of allocations and the Hong Kong identity card/passport/Hong Kong business registration
+numbers of successful applicants under the Hong Kong Public Offering will be available
+at the times and date and in the manner specified below:
+• in the announcement to be posted on the Company’s website at www.immuneonco.com
+and the Stock Exchange’s website at www.hkexnews.hk by no later than 9:00
+a.m. on Monday, September 4, 2023. Please note that the list of identification
+document numbers in this announcement may not be a complete list of successful
+applicants since only successful applicants whose identification document numbers
+are provided to HKSCC by CCASS Participants are disclosed. Applicants with
+beneficial names only but not identification document numbers are not disclosed
+due to personal privacy issue as elaborated below. Applicants who applied for the
+Offer Shares through their brokers can consult their brokers to enquire about their
+application result;
+
+
+--- page 5 ---
+– 7 –
+• from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID” function on a
+24-hour basis from 8:00 a.m. on Monday, September 4, 2023 to 12:00 midnight on
+Sunday, September 10, 2023; and
+• from the allocation results telephone enquiry line by calling +852 2862 8555
+between 9:00 a.m. and 6:00 p.m. on Monday, September 4, 2023, Tuesday,
+September 5, 2023, Wednesday, September 6, 2023, and Thursday, September 7,
+2023.
+This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by White
+Form eIPO” refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner
+identification codes (if such applications are made by nominees as agent for the benefit of
+another person) whereas those displayed in the section headed “Results of Applications
+Made by Giving Electronic Application Instructions to HKSCC via CCASS” are provided
+by CCASS Participants via CCASS. Therefore, the identification document numbers
+shown in the two sections are different in nature.
+Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications
+Made by White Form eIPO” and “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS” are redacted and not all details of
+applications are disclosed in this announcement.
+Despatch/Collection of H Share Certificates/e-Refund Payment Instructions/Refund
+Checks
+Applicants who applied for 500,000 or more Hong Kong Offer Shares through the White
+Form eIPO service and who have been wholly successfully or partially successfully
+allocated Hong Kong Offer Shares and are eligible to collect H Share certificates in
+person may collect H Share certificates from the H Share Registrar, Computershare Hong
+Kong Investor Services Limited, at Shops 1712–1716, 17th Floor, Hopewell Centre,
+183 Queen’s Road East, Wanchai, Hong Kong from 9:00 a.m. to 1:00 p.m. on Monday,
+September 4, 2023, or such other date or place as notified by the Company in the
+newspapers as the date of despatch/collection of H Share certificates/e-Refund payment
+instructions/refund cheques.
+H Share certificates for the Hong Kong Offer Shares allotted to applicants who applied
+for less than 500,000 Hong Kong Offer Shares through the White Form eIPO service
+are expected to be despatched to those entitled to the address specified in the relevant
+application instructions through the White Form eIPO service by ordinary post at their
+own risk on or before Monday, September 4, 2023.
+
+
+--- page 6 ---
+– 8 –
+H Share certificates for the Hong Kong Offer Shares allocated to applicants who applied
+through the White Form eIPO service which are either not eligible for personal collection
+or which are eligible but are not collected in person by 1:00 p.m. on Monday, September
+4, 2023, are expected to be despatched by ordinary post to those entitled to them at their
+own risk on or before Monday, September 4, 2023.
+Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their H Share certificates issued in the name
+of HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participants who gave electronic application instructions on their behalf on Monday,
+September 4, 2023.
+Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them with that CCASS Participant.
+Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
+before 5:00 p.m. on Monday, September 4, 2023 or such other date as shall be determined
+by HKSCC or HKSCC Nominees. Applicants who applied as a CCASS Investor
+Participant by giving electronic application instructions to HKSCC via CCASS may also
+check the results of their applications and the amount of refund monies payable to them
+via the CCASS Phone System and the CCASS Internet System (under the procedures
+contained in HKSCC’s “An Operating Guide for Investor Participants” in effect from time
+to time) immediately after the crediting of the Hong Kong Offer Shares to the CCASS
+Investor Participants stock accounts and the crediting of the refund monies to the CCASS
+Investor Participants bank accounts. HKSCC will also make available to the CCASS
+Investor Participants an activity statement showing the number of Hong Kong Offer
+Shares credited to their stock accounts and the refund amount credited to their respective
+designated bank accounts (if any).
+Applicants who applied through the White Form eIPO service and paid the application
+monies from a single bank account will have refund monies (if any) despatched to their
+application payment accounts in the form of e-Refund payment instructions on Monday,
+September 4, 2023. Applicants who applied through the White Form eIPO service and
+paid the application monies from multiple bank accounts will have refund monies (if
+any) despatched to the addresses specified on their White Form eIPO applications in the
+form of refund check(s) in favour of the applicant (or, in the case of joint applications, the
+firstnamed applicant) by ordinary post at their own risk on or before Monday, September
+4, 2023.
+
+
+--- page 7 ---
+– 9 –
+Refund monies for applicants who have applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants’
+designated bank accounts or the designated bank accounts of their brokers or custodians
+on Monday, September 4, 2023.
+H Share certificates will only become valid certificates of title at 8:00 a.m. on the Listing
+Date which is expected to be Tuesday, September 5, 2023, provided that the Global
+Offering has become unconditional in all respects at or before that time and the right of
+termination described in the section headed “Underwriting — Underwriting Arrangements
+and Expenses — Hong Kong Public Offering — Hong Kong Underwriting Agreement —
+Grounds for Termination” in the Prospectus has not been exercised.
+The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+Public Float
+• The Directors of the Company confirm that there will not be any new substantial
+Shareholder immediately after the Global Offering within the meaning of the Listing
+Rules and the number of shares to be held by the public will satisfy the minimum
+percentage prescribed under Rule 8.08 of the Listing Rules.
+• Immediately following completion of the Global Offering and before the exercise
+of the Over-allotment Option, the number of H Shares in public hands will be
+153,807,961 H Shares, representing approximately 41.21% of the total issued share
+capital of the Company which satisfies Rule 8.08(1) of the Listing Rules, and the
+three largest public shareholders of the Company do not hold more than 50% of
+the shares held in public hands at the time of the Listing in compliance with Rules
+8.08(3) and 8.24 of the Listing Rules. The Directors confirm that there will be at
+least 300 Shareholders at the time of the Listing in compliance with Rule 8.08 (2) of
+the Listing Rules. The Company will comply with Rule 18A.07 of the Listing Rules
+that a portion of the total number of the Company’s issued shares with a market
+capitalization of at least HK$375 million will be held by the public at the time of
+Listing.
+Commencement of Dealings in the H Shares
+• Assuming that the Global Offering becomes unconditional in all respects at or before
+8:00 a.m. on Tuesday, September 5, 2023 (Hong Kong time), dealings in the H
+Shares on the Main Board of the Stock Exchange are expected to commence at 9:00
+a.m. on Tuesday, September 5, 2023 (Hong Kong time). H Shares will be traded in
+board lots of 200 H Shares each. The stock code of the H Shares is 1541.
+In view of the high concentration of shareholding in a small number of H
+Shareholders, Shareholders and prospective investors should be aware that the price
+of the H Shares could move substantially even with a small number of Shares traded,
+and should exercise extreme caution when dealing in H Shares.
+
+
+--- page 8 ---
+– 10 –
+OFFER PRICE
+The Offer Price is HK$18.60 per H Share (exclusive of brokerage of 1%, SFC transaction
+levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy of
+0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$18.60 per H Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and estimated expenses payable by the Company in connection with the
+Global Offering, are estimated to be approximately HK$234.5 million (assuming the
+Over-allotment Option is not exercised). Listing expenses to be borne by the Company are
+estimated to be approximately HK$84.4 million (including underwriting commission, at the
+Offer Price of HK$18.60 per H Share), which represent 26.5% of the gross proceeds from
+the Global Offering, comprising (i) underwriting-related fees of RMB11.7 million, and (ii)
+non-underwriting-related expenses of RMB66.0 million, including (a) the legal advisors and
+the reporting accountants expenses of RMB35.6 million, and (b) other fees and expenses,
+including sponsors fee, of RMB30.4 million.
+The Company intends to apply such net proceeds for the following purposes:
+• approximately 40.0%, or HK$93.8 million, will be used for ongoing and planned
+clinical trials, preparation for registration filings, and planned commercial launch of
+the Core Product, IMM01 (SIRPα-Fc fusion protein);
+• approximately 28.0%, or HK$65.7 million, will be used for ongoing and planned
+clinical trials, preparation for registration filings, and planned commercial launch of
+the Key Products, IMM0306 (CD47×CD20), IMM2902 (CD47×HER2) and IMM2520
+(CD47×PD-L1);
+• approximately 10.0%, or HK$23.5 million, will be used for the planned clinical trial of
+IMM47 (CD24 mAb);
+• approximately 5.0%, or HK$11.7 million, will be used for the ongoing clinical trials of
+IMM2510 (VEGF×PD-L1) and IMM27M (CTLA4 ADCC-enhanced mAb);
+• approximately 7.0%, or HK$16.4 million, will be used for construction of the new
+manufacturing facility in Zhangjiang Science City, Shanghai;
+
+
+--- page 9 ---
+– 11 –
+• approximately 5.0%, or HK$11.7 million, will be used for the continuous preclinical
+research and development of multiple preclinical-and discovery-stage assets, including
+without limitation IMM4701, IMM51, IMM38, IMM2547, IMM50 and IMM62, as
+well as CMC to support the clinical trials including pivotal trials for various assets; and
+• approximately 5.0%, or HK$11.7 million, will be used for working capital and general
+corporate purposes.
+If the Over-allotment Option is partially exercised, the net proceeds of the Global Offering
+would increase to approximately HK$251.3 million for 917,800 additional Offer Shares to
+be issued and allotted upon the exercise of the Over-allotment Option (based on the Offer
+Price of HK$18.60 per H Share), which will be allocated on a pro rata basis according to the
+use of proceeds as set out in the paragraph headed “Net Proceeds from the Global Offering”
+in this announcement. For further information, please refer to the section headed “Future
+Plans and Use of Proceeds” in the Prospectus.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE
+HONG KONG PUBLIC OFFERING
+The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been moderately over-subscribed. A total of 4,870 valid applications have been received
+pursuant to the Hong Kong Public Offering through the White Form eIPO service and giving
+electronic application instructions to HKSCC for a total of 17,115,000 Hong Kong Offer
+Shares, representing approximately 9.98 times of the total number of 1,714,800 H Shares
+initially available for subscription under the Hong Kong Public Offering, among which:
+• 4,855 valid applications in respect of a total of 9,220,600 Hong Kong Offer Shares
+were for the Hong Kong Public Offering with an aggregate subscription amount
+based on the Offer Price of HK$18.60 per Hong Kong Offer Share of HK$5 million
+(excluding brokerage of 1.0%, SFC transaction levy of 0.0027%, Hong Kong Stock
+Exchange trading fee of 0.00565% and AFRC transaction levy of 0.00015%) or less,
+representing approximately 10.75 times of the 857,400 Hong Kong Offer Shares
+initially comprised in Pool A; and
+• 15 valid applications in respect of a total of 7,894,400 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount based
+on the Offer Price of HK$18.60 per Hong Kong Offer Share of more than HK$5
+million (excluding brokerage of 1.0%, SFC transaction levy of 0.0027%, Hong Kong
+Stock Exchange trading fee of 0.00565% and AFRC transaction levy of 0.00015%),
+representing approximately 9.21 times of the 857,400 Hong Kong Offer Shares
+initially comprised in Pool B.
+
+
+--- page 10 ---
+– 12 –
+No application has been rejected due to dishonored payments. No application has been
+rejected due to invalid application. Four multiple or suspected multiple applications have
+been identified and rejected. No application for more than 857,400 Hong Kong Offer Shares
+(being 50% of the Hong Kong Offer Shares initially available under the Hong Kong Public
+Offering) has been identified.
+As the over-subscription in the Hong Kong Public Offering is less than 15 times, no
+reallocation of Offer Shares has been effected from the International Offering to the Hong
+Kong Public Offering. The final number of Offer Shares under the Hong Kong Public
+Offering is 1,714,800 Offer Shares, representing approximately 10% of the total number
+of Offer Shares initially available under the Global Offering (before any exercise of the
+Over-allotment Option), and being allocated to 1,655 successful applicants under the Hong
+Kong Public Offering, among which 1,346 applicants have been allotted one board lot of
+Offer Shares totalling 269,200 H Shares. The Offer Shares offered in the Hong Kong Public
+Offering were conditionally allocated on the basis set out in the paragraph headed “Basis of
+Allocation under the Hong Kong Public Offering” below.
+INTERNATIONAL OFFERING
+The Offer Shares initially offered under the International Offering have been slightly
+over-subscribed, representing approximately 1.06 times of the total number of Offer
+Shares initially available under the International Offering. The final number of Offer
+Shares allocated to the placees under the International Offering is 15,432,400 H Shares,
+representing approximately 90% of the total number of Offer Shares initially available under
+the Global Offering (before any exercise of the Over-allotment Option). There has been an
+over-allocation of 917,800 Offer Shares and there are a total number of 161 placees under
+the International Offering, among which 149 placees have been allotted five or fewer board
+lots of the Offer Shares totalling 29,800 H Shares, representing approximately 92.5% of
+the total number of placees and approximately 0.19% of the total number of Offer Shares
+initially available under the International Offering. The Directors confirm that no placee
+will, individually, be placed more than 10% of the enlarged issued share capital of the
+Company immediately after completion of the Global Offering.
+
+
+--- page 11 ---
+– 13 –
+Cornerstone Investors
+Based on the Offer Price of HK$18.60 per Offer Share (exclusive of brokerage of 1%,
+SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%) and pursuant to the Cornerstone Investment Agreements as
+disclosed in the section headed “Cornerstone Investors” in the Prospectus, the number of
+Offer Shares subscribed for by the Cornerstone Investors is determined as set out below:
+Cornerstone Investor
+Total
+investment
+Amount(1)
+Number
+of Offer
+Shares to be
+acquired(4)
+Assuming the Over-allotment Option
+is not exercised
+Assuming the Over-allotment Option
+is partially exercised up to
+917,800 Offer Shares
+Approximate
+% of the
+Offer Shares
+% of the
+H Shares
+in issue
+Approximate
+% of
+ownership
+Approximate
+% of the
+Offer Shares
+% of the
+H Shares
+in issue
+Approximate
+% of
+ownership
+(US$ in
+million)
+Harvest 20.0 8,420,800 49.11 3.70 2.26 46.61 3.68 2.25
+Wuxi Venture 5.0(2) 2,101,800 12.26 0.92 0.56 11.63 0.92 0.56
+RemeGen HK 2.7(3) 1,129,000 6.58 0.50 0.30 6.25 0.49 0.30
+ClinChoice 2.0(4) 833,600 4.86 0.37 0.22 4.61 0.36 0.22
+Total 29.7 12,485,200 72.81 5.48 3.35 69.11 5.46 3.34
+Notes:
+(1) Exclusive of brokerage fee of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of
+0.00565% and AFRC transaction levy of 0.00015%, and to be converted to Hong Kong dollars (where
+applicable) based on the exchange rate as disclosed in “Information about this Prospectus and the
+Global Offering — Currency Translation” in the Prospectus.
+(2) The original investment amount under the relevant Cornerstone Investor Agreement is HK$39,093,480,
+the relevant USD equivalent is calculated using the exchange rate as disclosed in “Information about
+this Prospectus and the Global Offering Currency Translation” in the Prospectus.
+(3) The original investment amount under the relevant Cornerstone Investor Agreement is HK$21,000,000,
+the relevant USD equivalent is calculated using the exchange rate as disclosed in “Information about
+this Prospectus and the Global Offering Currency Translation” in the Prospectus.
+(4) The original investment amount under the relevant Cornerstone Investor Agreement is US$2,000,000
+inclusive of brokerage, the SFC transaction levy, the Stock Exchange trading fee and the AFRC
+transaction levy.
+(5) Subject to rounding down to the nearest whole board lot of 200 H Shares.
+
+
+--- page 12 ---
+– 14 –
+The Cornerstone Investors will acquire the Offer Shares pursuant to, and as part of, the
+International Offering. The Cornerstone Investors have agreed to pay for the relevant Offer
+Shares that they have subscribed before dealings in the H Shares commence on the Stock
+Exchange. The Offer Shares to be subscribed by the Cornerstone Investors will rank pari
+passu in all respects with the other fully paid H Shares in issue and will be counted towards
+the public float of our Company under Rule 8.08 of the Listing Rules. The Offer Shares to
+be subscribed by the Cornerstone Investors will not be counted towards the public float of
+our Company for the purpose of Rule 18A.07 of the Listing Rules. Immediately following
+the completion of the Global Offering, none of the Cornerstone Investors will become a
+substantial shareholder of our Company or have any Board representation in our Company.
+Other than a guaranteed allocation of the relevant Offer Shares at the Offer Price, the
+Cornerstone Investors do not have any preferential rights in their respective Cornerstone
+Investment Agreement compared with other public Shareholders.
+RemeGen HK is a close associate of an existing Shareholder of the Company, Rongchang
+Chuangtou, holding less than 10% of shares in the Company, has been permitted to
+participate in the Cornerstone Investment pursuant to paragraph 5.2 of the Guidance
+Letter HKEX-GL92–18 and has been granted a waiver from strict compliance with the
+requirements under Rule 10.04 of, and a consent under paragraph 5(2) of Appendix 6 to, the
+Listing Rules by the Stock Exchange. Both the Directors and the Joint Sponsors confirm that
+no preference was given to RemeGen HK other than the preferential treatment of assured
+entitlement at the Offer Price and the terms are substantially the same as other Cornerstone
+Investors.
+To the best knowledge of the Company and save for the fact that one Cornerstone
+Investor, namely RemeGen HK is a close associate of an existing Shareholders of the
+Company, (i) each of the Cornerstone Investors is an independent third party and is not
+the Company’s connected person (as defined in the Listing Rules); (ii) none of the Offer
+Shares subscribed for by public Shareholders in the Hong Kong Public Offering and placees
+in the International Offering has been financed directly or indirectly by the Company, the
+Directors, Supervisors, chief executive, substantial Shareholders, existing Shareholders
+or any of their subsidiaries or their respective close associates, and (iii) none of the public
+Shareholders in the Hong Kong Public Offering and placees in the International Offering
+who has subscribed for the Offer Shares is accustomed to taking instructions from the
+Company, the Directors, Supervisors, chief executive, substantial Shareholders, existing
+Shareholders or any of their subsidiaries or their respective close associates in relation to the
+acquisition, disposal, voting or other disposition of the H Shares registered in their name or
+otherwise held by them.
+
+
+--- page 13 ---
+– 15 –
+As confirmed by each Cornerstone Investor, its subscription under the relevant Cornerstone
+Investment Agreement would be financed by its own internal financial resources. Each of
+the Cornerstone Investors has confirmed that all necessary approvals have been obtained
+with respect to the Cornerstone Investment and that no specific approval from any
+stock exchange (if relevant) or its shareholders is required for the relevant Cornerstone
+Investment as each of them has general authority to invest. There are no side arrangements
+or agreements between the Company and the Cornerstone Investors or any benefit, direct or
+indirect, conferred on the Cornerstone Investors by virtue of or in relation to the Cornerstone
+Investment, other than a guaranteed allocation of the relevant Offer Shares at the Offer
+Price.
+Except for ClinChoice, all other Cornerstone Investors have agreed that the Overall
+Coordinators may defer the delivery of all or any part of the Offer Shares they have
+subscribed for to a date later than the Listing Date. Such delayed delivery arrangement is in
+place to facilitate the over-allocation in the International Offering. There will be no delayed
+delivery if there is no over-allocation in the International Offering.
+There will not be any deferred settlement in payment by any of the Cornerstone Investors.
+All of the Cornerstone Investors have agreed that they shall pay for the relevant Offer Shares
+no later than 8:00 a.m. (Hong Kong time) on the Listing Date.
+Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly,
+at any time during the period of six months from the Listing Date (the “Lock-up Period”),
+dispose of any of the Offer Shares they have purchased pursuant to the relevant Cornerstone
+Investment Agreements, save for certain limited circumstances, such as transfers to any of
+its wholly-owned subsidiaries, or any affiliated fund under common management or control
+with the relevant Cornerstone Investor, who will be bound by the same obligations of such
+Cornerstone Investor, including the Lock-up Period restriction.
+Placing of Offer Shares to a Close Associates of an Existing Shareholder under
+Paragraph 5(2) of the Placing Guidelines
+Save as disclosed in the above sections headed “International Offering — Cornerstone
+Investors” in this announcement, to the best knowledge, information and belief of the
+Directors, no Offer Shares placed by or through the Overall Coordinators, the Joint Global
+Coordinators, the Joint Bookrunners or the Underwriters under the Global Offering have
+been placed with applicants who are core connected persons (as defined in the Listing
+Rules) or directors of the Company, or to any connected clients (as set out in paragraph 5(1)
+of the Placing Guidelines), or persons set out in paragraph 5(2) of the Placing Guidelines,
+whether in their own names or through nominees.
+
+
+--- page 14 ---
+– 16 –
+To the best knowledge of the Company and save for the fact that RemeGen HK is a close
+associate of an existing Shareholders of the Company, Rongchang Chuangtou, (i) none
+of the Offer Shares subscribed by public shareholders in the Hong Kong Public Offering
+and placees in the International Offering has been financed directly or indirectly by the
+Company, the Directors, Supervisors, chief executive, substantial Shareholders, existing
+Shareholders or any of their subsidiaries or their respective close associates, and (ii) none of
+the public shareholders in the Hong Kong Public Offering and placees in the International
+Offering who has subscribed for the Offer Shares is accustomed to taking instructions from
+the Company, the Directors, Supervisors, chief executive, substantial Shareholders, existing
+Shareholders or any of their subsidiaries or their respective close associates in relation to the
+acquisition, disposal, voting or other disposition of the Shares registered in their name or
+otherwise held by them.
+Over-allotment Option
+In connection with the Global Offering, the Company has granted the Over-allotment
+Option to the International Underwriters, exercisable by the Overall Coordinators on behalf
+of the International Underwriters at any time from the Listing Date until 30 days after the
+last day for lodging applications under the Hong Kong Public Offering. Pursuant to the
+Over-allotment Option, the Overall Coordinators have the right to require the Company
+to issue and allot up to an aggregate of 2,572,000 additional Offer Shares, representing
+approximately 15% of the initial number of Offer Shares to be offered in the Global
+Offering, at Offer Price to, among other things, cover over-allocation in the International
+Offering.
+There has been an over-allocation of 917,800 Offer Shares in the International Offering.
+Such over-allocation may be covered by exercising the Over-allotment Option in part or by
+making purchases in the secondary market or a combination of these means. In the event the
+Over-allotment Option is exercised, an announcement will be made on the Stock Exchange’s
+website at www.hkexnews.hk and the Company’s website at www.immuneonco.com . As
+of the date of this announcement, the Over-allotment Option has not been exercised.
+
+
+--- page 15 ---
+– 17 –
+LOCK-UP OBLIGATIONS
+The Company, the Controlling Shareholders (including Dr. Tian, together with Jiaxing
+Changxian, Jiaxing Changyu and Halo Investment II), the existing Shareholders and the
+Cornerstone Investors have provided and/or are subject to certain obligations in relation to
+the Shares (the “Lock-up Obligations”). The major terms of the Lock-up Obligations are as
+follows:
+Name
+Number of
+Shares held in
+the Company
+subject to
+the Lock-up
+Obligations
+upon the
+Listing
+Percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Obligations
+after Listing(3)
+Last day subject to the
+Lock-up Obligations
+The Company (subject to lock-up
+obligations pursuant to the
+Listing Rules and the Hong Kong
+Underwriting Agreement)
+N/A N/A March 4, 2024(1)
+Controlling Shareholders and the existing Shareholders (subject to Lock-up Obligations pursuant
+to the Listing Rules, the Hong Kong Underwriting Agreement and applicable PRC laws and
+regulations)
+Dr. Tian 70,182,990 18.80% September 4, 2024(2)
+Jiaxing Changxian 15,517,260 4.16% September 4, 2024(2)
+Jiaxing Changyu 14,839,695 3.98% September 4, 2024(2)
+Halo Investment II 18,000,000 4.82% September 4, 2024(2)
+Other existing Shareholders (subject to Lock-up Obligations pursuant to applicable PRC laws and
+regulations)
+LAV
+— LAV ImmuneOnco 15,178,770 4.07% September 4, 2024(2)
+— Suzhou Likang 14,428,170 3.87% September 4, 2024(2)
+— LAV ImmOn 12,542,805 3.36% September 4, 2024(2)
+— Suzhou Lirun 1,507,680 0.40% September 4, 2024(2)
+ZJ Leading VC
+— ZJ Leading Initiating VC 36,780,390 9.85% September 4, 2024(2)
+— ZJ Leading SiQi VC 5,554,305 1.49% September 4, 2024(2)
+Lapam Capital 19,263,240 5.16% September 4, 2024(2)
+Milestone Entities
+— Licheng Investment 9,631,620 2.58% September 4, 2024(2)
+— Jiaxing Liyou 4,743,630 1.27% September 4, 2024(2)
+— Milestone Asset 2,185,020 0.59% September 4, 2024(2)
+
+
+--- page 16 ---
+– 18 –
+Name
+Number of
+Shares held in
+the Company
+subject to
+the Lock-up
+Obligations
+upon the
+Listing
+Percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Obligations
+after Listing(3)
+Last day subject to the
+Lock-up Obligations
+LYFE Capital
+— Granite Peak 9,084,330 2.43% September 4, 2024(2)
+— Borah Peak 6,927,345 1.86% September 4, 2024(2)
+GBA Investment 13,854,690 3.71% September 4, 2024(2)
+Zhangjiang Sci & Tech. 10,862,055 2.91% September 4, 2024(2)
+Langsheng Investment 9,631,620 2.58% September 4, 2024(2)
+Yaluo Investment 7,823,835 2.10% September 4, 2024(2)
+Ruiji III 6,927,345 1.86% September 4, 2024(2)
+Sunshine Life 6,701,310 1.80% September 4, 2024(2)
+Minglang Capital 5,266,665 1.41% September 4, 2024(2)
+Jiaxing Qiyue 5,195,520 1.39% September 4, 2024(2)
+Sci-Tech Fund I 4,267,260 1.14% September 4, 2024(2)
+Nanjing Xingjian Ruiying 3,394,890 0.91% September 4, 2024(2)
+Cash Capital 3,394,890 0.91% September 4, 2024(2)
+Jiaxing Chenyue 3,350,655 0.90% September 4, 2024(2)
+Puen Guoxin 2,474,055 0.66% September 4, 2024(2)
+Chongde VC 2,407,905 0.65% September 4, 2024(2)
+Yuanchuangke Investment 2,407,905 0.65% September 4, 2024(2)
+Beijing Yuanpei 2,185,020 0.59% September 4, 2024(2)
+Wuming Investment 2,092,455 0.56% September 4, 2024(2)
+Rongchang Chuangtou 2,046,240 0.55% September 4, 2024(2)
+Chuangdongfang Investment 2,046,195 0.55% September 4, 2024(2)
+Kuanyu Capital 2,046,195 0.55% September 4, 2024(2)
+Bloomage Langya 1,348,740 0.36% September 4, 2024(2)
+Cornerstone Investors (subject to Lock-up Obligations pursuant to the Cornerstone Investment
+Agreements)
+Harvest 8,420,800 2.26% March 4, 2024(2)
+Wuxi Venture 2,101,800 0.56% March 4, 2024(2)
+RemeGen HK 1,129,000 0.30% March 4, 2024(2)
+ClinChoice 833,600 0.22% March 4, 2024(2)
+
+
+--- page 17 ---
+– 19 –
+Notes:
+(1) The Company may not issue Shares prior to the indicated date except otherwise permitted by the
+Listing Rules.
+(2) The Shareholder(s) and Cornerstone Investor(s) may dispose of or transfer Shares without any lock-up
+obligation after the indicated date.
+(3) Assuming the Over-allotment Option is not exercised.
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure and
+Conditions of the Global Offering — Conditions of the Global Offering” in the Prospectus,
+4,870 valid applications made by the public through giving electronic applications
+instructions to HKSCC via CCASS and through the White Form eIPO service 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 2,500 289 out of 2,500 to receive 200
+Shares
+11.56%
+400 927 214 out of 927 to receive 200 Shares 11.54%
+600 204 70 out of 204 to receive 200 Shares 11.44%
+800 99 45 out of 99 to receive 200 Shares 11.36%
+1,000 181 101 out of 181 to receive 200 Shares 11.16%
+1,200 36 24 out of 36 to receive 200 Shares 11.11%
+1,400 29 22 out of 29 to receive 200 Shares 10.84%
+1,600 22 19 out of 22 to receive 200 Shares 10.80%
+1,800 14 13 out of 14 to receive 200 Shares 10.32%
+2,000 530 200 Shares plus 4 out of 530 to
+receive additional 200 Shares
+10.08%
+3,000 47 200 Shares plus 24 out of 47 to
+receive additional 200 Shares
+10.07%
+4,000 33 400 Shares 10.00%
+5,000 70 400 Shares plus 35 out of 70 to
+receive additional 200 Shares
+10.00%
+6,000 27 600 Shares 10.00%
+
+
+--- page 18 ---
+– 20 –
+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
+7,000 6 600 Shares plus 3 out of 6 to receive
+additional 200 Shares
+10.00%
+8,000 6 800 Shares 10.00%
+9,000 2 800 Shares plus 1 out of 2 to receive
+additional 200 Shares
+10.00%
+10,000 56 1,000 Shares 10.00%
+15,000 7 1,400 Shares plus 3 out of 7 to
+receive additional 200 Shares
+9.90%
+20,000 9 1,800 Shares plus 8 out of 9 to
+receive additional 200 Shares
+9.89%
+25,000 1 2,400 Shares 9.60%
+30,000 11 2,800 Shares plus 4 out of 11 to
+receive additional 200 Shares
+9.58%
+35,000 1 3,200 Shares 9.14%
+40,000 6 3,600 Shares plus 1 out of 6 to
+receive additional 200 Shares
+9.08%
+45,000 1 4,000 Shares 8.89%
+50,000 6 4,400 Shares plus 1 out of 6 to
+receive additional 200 Shares
+8.87%
+60,000 7 5,200 Shares plus 3 out of 7 to
+receive additional 200 Shares
+8.81%
+80,000 1 7,000 Shares 8.75%
+100,000 2 8,000 Shares 8.00%
+150,000 1 12,000 Shares 8.00%
+200,000 1 16,000 Shares 8.00%
+250,000 12 20,000 Shares 8.00%
+4,855 Total number of Pool A successful
+applicants: 1,640
+POOL B
+300,000 8 32,800 Shares 10.93%
+350,000 1 38,200 Shares 10.91%
+857,400 6 92,800 Shares 10.82%
+15 Total number of Pool B successful
+applicants: 15
+
+
+--- page 19 ---
+– 21 –
+The final number of Offer Shares comprising the Hong Kong Public Offering is 1,714,800
+Offer Shares, representing 10% of the total number of Offer Shares initially available under
+the Global Offering (assuming that the Over-allotment Option is not exercised).
+RESULTS OF ALLOCATIONS
+The Offer Price, the level of indications of interest in the International Offering, the results
+of allocations and the Hong Kong identity card/passport/Hong Kong business registration
+numbers of successful applicants under the Hong Kong Public Offering will be available at
+the times and date and in the manner specified below:
+• in the announcement to be posted on the Company’s website at www.immuneonco.com
+and the Stock Exchange’s website at www.hkexnews.hk by no later than 9:00 a.m. on
+Monday, September 4, 2023. Please note that the list of identification document numbers
+in this announcement may not be a complete list of successful applicants since only
+successful applicants whose identification document numbers are provided to HKSCC
+by CCASS Participants are disclosed. Applicants with beneficial names only but not
+identification document numbers are not disclosed due to personal privacy issue as
+elaborated below. Applicants who applied for the Offer Shares through their brokers can
+consult their brokers to enquire about their application result;
+• from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID” function on a
+24 hour basis from 8:00 a.m. on Monday, September 4, 2023 to 12:00 midnight on
+Sunday, September 10, 2023; and
+• from the allocation results telephone enquiry line by calling +852 2862 8555 between
+9:00 a.m. and 6:00 p.m. on Monday, September 4, 2023, Tuesday, September 5, 2023,
+Wednesday, September 6, 2023, and Thursday, September 7, 2023.
+This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by White
+Form eIPO” refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner
+identification codes (if such applications are made by nominees as agent for the benefit of
+another person) whereas those displayed in the section headed “Results of Applications
+Made by Giving Electronic Application Instructions to HKSCC via CCASS” are provided
+by CCASS Participants via CCASS. Therefore, the identification document numbers shown
+in the two sections are different in nature.
+
+
+--- page 20 ---
+– 22 –
+Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications Made
+by White Form eIPO” and “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS” are redacted and not all details of applications are
+disclosed in this announcement.
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the Global Offering is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placees Subscription
+Number of H
+Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offering
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming
+the Over-
+allotment
+Option is
+exercised (1))
+Subscription
+as % of total
+Offer Shares
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+Subscription
+as % of
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised (1))
+% of total H
+share capital
+upon Listing
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+% of total H
+share capital
+upon Listing
+(assuming
+the Over-
+allotment
+Option is
+exercised (1))
+% of total
+issued share
+capital upon
+Listing
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming
+the Over-
+allotment
+Option is
+exercised (1))
+Top 1 8,420,800 8,420,800 8,420,800 54.57% 51.50% 49.11% 46.61% 3.70% 3.68% 2.26% 2.25%
+Top 5 14,593,600 14,593,600 14,593,600 94.56% 89.26% 85.11% 80.78% 6.41% 6.39% 3.91% 3.90%
+Top 10 16,316,000 16,316,000 16,316,000 105.73% 99.79% 95.15% 90.32% 7.17% 7.14% 4.37% 4.36%
+Top 20 16,322,000 16,322,000 16,322,000 105.76% 99.83% 95.19% 90.35% 7.17% 7.14% 4.37% 4.36%
+Top 25 16,323,000 16,323,000 16,323,000 105.77% 99.83% 95.19% 90.36% 7.17% 7.14% 4.37% 4.36%
+Note:
+(1) Assuming the Over-allotment Option is partially exercised up to 917,800 Offer Shares.
+
+
+--- page 21 ---
+– 23 –
+• Top 1, 5, 10, 20 and 25 Shareholders of the Company upon Listing:
+Shareholders Subscription
+Number of H
+Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offering
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming
+the Over-
+allotment
+Option is
+exercised (1))
+Subscription
+as % of total
+Offer Shares
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+Subscription
+as % of
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised (1))
+% of total H
+share capital
+upon Listing
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+% of total H
+share capital
+upon Listing
+(assuming
+the Over-
+allotment
+Option is
+exercised (1))
+% of total
+issued share
+capital upon
+Listing
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming
+the Over-
+allotment
+Option is
+exercised (1))
+Top 1 — 68,269,973 118,539,945 — — — — 29.99% 29.87% 31.76% 31.68%
+Top 5 — 118,106,123 224,419,725 — — — — 51.88% 51.68% 60.13% 59.98%
+Top 10 — 161,569,115 290,715,615 — — — — 70.98% 70.69% 77.89% 77.70%
+Top 20 8,420,800 203,218,371 346,923,940 54.57% 51.50% 49.11% 46.61% 89.27% 88.92% 92.95% 92.72%
+Top 25 11,651,600 216,505,141 360,210,710 75.50% 71.26% 67.95% 64.50% 95.11% 94.73% 96.51% 96.27%
+Note:
+(1) Assuming the Over-allotment Option is partially exercised up to 917,800 Offer Shares.
+• Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company (the “ H
+Shareholders”) upon Listing:
+H Shareholders Subscription
+Number of H
+Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offering
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming
+the Over-
+allotment
+Option is
+exercised (1))
+Subscription
+as % of total
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Subscription
+as % of
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised (1))
+% of total H
+share capital
+upon Listing
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+% of total H
+share capital
+upon Listing
+(assuming
+the Over-
+allotment
+Option is
+exercised (1))
+% of total
+issued share
+capital upon
+Listing
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+% of total
+issued share
+capital upon
+Listing
+(assuming
+the Over-
+allotment
+Option is
+exercised (1))
+Top 1 — 68,269,973 118,539,945 — — — — 29.99% 29.87% 31.76% 31.68%
+Top 5 — 138,415,265 192,688,155 — — — — 60.81% 60.56% 51.63% 51.50%
+Top 10 8,420,800 175,466,600 276,834,955 54.57% 51.50% 49.11% 46.61% 77.08% 76.77% 74.17% 73.99%
+Top 20 9,549,800 210,520,876 322,403,705 61.88% 58.41% 55.69% 52.86% 92.48% 92.11% 86.38% 86.17%
+Top 25 13,751,600 221,046,346 332,929,175 89.11% 84.11% 80.20% 76.12% 97.11% 96.72% 89.20% 88.98%
+Note:
+(1) Assuming the Over-allotment Option is partially exercised up to 917,800 Offer Shares.
+In view of the high concentration of shareholding in a small number of H Shareholders,
+Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of Shares traded, and should
+exercise extreme caution when dealing in H Shares.
diff --git a/data/extracted_text/01973/allotment_results_summary_2023-10-05_2023100500008.txt b/data/extracted_text/01973/allotment_results_summary_2023-10-05_2023100500008.txt
new file mode 100644
index 0000000..b0c5874
--- /dev/null
+++ b/data/extracted_text/01973/allotment_results_summary_2023-10-05_2023100500008.txt
@@ -0,0 +1,936 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+• The Offer Price has been determined at HK$6.50 per Offer Share (excluding brokerage
+of 1.0%, SFC transaction levy of 0.0027%, Hong Kong Stock Exchange trading fee of
+0.00565% and AFRC transaction levy of 0.00015%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$6.50 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and estimated expenses payable by the Company in connection with the
+Global Offering, are estimated to be approximately HK$1,008.5 million. The Company
+intends to apply the net proceeds from the Global Offering in the manner as set out in the
+paragraph headed “Net Proceeds from the Global Offering ” in this announcement.
+• As no over-allocation of International Offer Shares has been made, the Over-allotment
+Option has not been and will not be exercised, and no additional proceeds are expected to
+be received by the Company in this connection.
+Applications and Indications of Interest Received
+Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been under-subscribed. A total of 1,469 valid applications have been received pursuant to
+the Hong Kong Public Offering through the HK eIPO White Form service and through
+the CCASS EIPO service for a total of 4,549,600 Hong Kong Offer Shares, representing
+approximately 0.26 times of the total number of 17,326,000 Hong Kong Offer Shares
+initially available for subscription under the Hong Kong Public Offering.
+
+
+--- page 2 ---
+4
+• As the Hong Kong Offer Shares initially offered under the Hong Kong Public Offering
+have been under-subscribed, the reallocation procedures as described in the section headed
+“Structure of the Global Offering – The Hong Kong Public Offering – Reallocation
+and Clawback ” in the Prospectus have been applied, and a total number of 12,776,400
+unsubscribed Hong Kong Offer Shares have been reallocated to the International Offering.
+• As a result of such reallocation, the final number of Offer Shares under the Hong Kong
+Public Offering is 4,549,600 Offer Shares, representing approximately 2.63% of the total
+number of Offer Shares initially available under the Global Offering, and being allocated
+to 1,469 successful applicants under the Hong Kong Public Offering, among which 949
+applicants (representing approximately 64.60% of the 1,469 Shareholders who were
+allocated the Offer Shares under the Hong Kong Public Offering) have been allotted one
+board lot of Offer Shares totalling 379,600 H Shares (representing approximately 8.34% of
+the total Offer Shares under the Hong Kong Public Offering after reallocation).
+International Offering
+• The Offer Shares initially offered under the International Offering have been slightly
+over-subscribed, representing approximately 1.28 times of the total number of International
+Offer Shares initially available under the International Offering. The Overall Coordinators
+have exercised their discretion to reallocate the unsubscribed Offer Shares under the Hong
+Kong Public Offering to the International Offering as described in the section headed
+“Structure of the Global Offering – The Hong Kong Public Offering – Reallocation and
+Clawback ” in the Prospectus. A total number of 12,776,400 Offer Shares initially available
+for subscription under the Hong Kong Public Offering have been reallocated to the
+International Offering. As a result of such reallocation, the final number of Offer Shares
+under the International Offering is 168,708,400 Offer Shares, representing approximately
+97.37% of the total number of Offer Shares initially available under the Global Offering
+(given that the Over-allotment Option has not been and will not be exercised). There has
+not been an over-allocation of Offer Shares under the International Offering and there
+are a total of 180 placees under the International Offering, among which 85 placees
+have been allotted one board lot of Offer Shares, totalling 34,000 H Shares, representing
+approximately 0.02% of the Offer Shares initially available under the International
+Offering.
+Cornerstone Investors
+• Based on the final Offer Price of HK$6.50 per Offer Share (exclusive of brokerage of 1%,
+SFC transaction levy of 0.0027%, Hong Kong Stock Exchange trading fee of 0.00565%
+and AFRC transaction levy of 0.00015%), pursuant to the relevant Cornerstone Investment
+Agreements, the Cornerstone Investors have subscribed for a total of 74,560,000 H
+Shares, representing in aggregate (a) approximately 10.76% of the issued share capital of
+the Company immediately upon completion of the Global Offering (given that the Over-
+allotment Option has not been and will not be exercised); and (b) approximately 43.03%
+of the H Shares in issue immediately following the completion of the Global Offering
+(given that the Over-allotment Option has not been and will not be exercised). Please refer
+to the section headed “Cornerstone Investment ” in the Prospectus for further details of the
+Cornerstone Investors.
+
+
+--- page 3 ---
+5
+• Qingdao Hainuo, an Independent Third Party and one of the Cornerstone Investors in
+the Global Offering, has agreed to subscribe for 11,300,000 Offer Shares (the “Qingdao
+Hainuo Cornerstone Investment ”). For the purpose of the Qingdao Hainuo Cornerstone
+Investment, Qingdao Hainuo has engaged Galaxy Jinhui Security Asset Management
+Corporation Limited (ʮ̡ )(“Galaxy Jinhui ”), an asset
+manager that is a qualified domestic institutional investor ( “QDII”) as approved by the
+relevant PRC authority, to subscribe for the H Shares under the cornerstone investment
+in the name of its financial product, Galaxy Dehui No. 37 Single Asset Management
+Plan (ᅃි 37ྌ )( “Galaxy Asset Management Plan ”) on a
+non-discretionary basis on behalf of Qingdao Hainuo under the International Offering. As
+Galaxy Jinhui and China Galaxy International Securities (Hong Kong) Co., Limited ( ʕ
+ყᗇՎ (ಥ)ʮ̡ )(“Galaxy Securities ”) (as one of the capital market
+intermediaries, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers in
+the Global Offering) are members of a group of companies controlled by China Galaxy
+Securities Co., Ltd. (ʮ̡ ), Galaxy Jinhui is a “connected client ”
+of Galaxy Securities for the purpose of paragraph 13(7) of Appendix 6 to the Listing Rules
+(the “Placing Guidelines ”). The Company has applied to the Stock Exchange for, and the
+Stock Exchange has granted, its consent under paragraph 5(1) of the Placing Guidelines to
+permit Qingdao Hainuo to participate in the Global Offering through Galaxy Jinhui as the
+asset manager in the name of Galaxy Asset Management Plan.
+Placees with the Consent under Paragraph 5(1) of Placing Guidelines, Paragraph 5(2) of
+the Placing Guidelines and Rule 10.04 of the Listing Rules
+• Apart from the Qingdao Hainuo Cornerstone Investment, the Company has applied to the
+Stock Exchange for, and the Stock Exchange has granted to the Company, its consent under
+paragraph 5(1) of the Placing Guidelines to permit the Company to allocate Offer Shares
+in the International Offering to the placees set out in the section headed “International
+Offering { Placees with the Consent under Paragraph 5(1) of Placing Guidelines ” in this
+announcement.
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted,
+a waiver from strict compliance with Rule 10.04 of the Listing Rules and its consent under
+paragraph 5(2) of the Placing Guidelines to permit the Company to allocate H Shares
+under the International Offering to the existing holders of the Company ’s Shares quoted
+on the NEEQ and their close associates, including the placees set out in the section headed
+“International Offering { Placees with the Consent under Paragraph 5(2) of Placing
+Guidelines and Rule 10.04 of the Listing Rules ” in this announcement.
+• To the best knowledge of the Company, save for Marvel Horizon Limited, a close associate
+of an existing holder of the Company ’s Shares quoted on the NEEQ, (i) none of the Offer
+Shares subscribed by public Shareholders in the Hong Kong Public Offering and placees
+in the International Offering has been directly or indirectly financed by the Company, any
+of the Directors, the Supervisors, chief executive, the Controlling Shareholders, substantial
+Shareholders, existing Shareholders or any of their subsidiaries or their respective close
+associates; and (ii) none of the public Shareholders in the Hong Kong Public Offering and
+placees in the International Offering who has subscribed for the Offer Shares is accustomed
+to taking instructions from the Company, any of the Directors, the Supervisors, chief
+executive, the Controlling Shareholders, substantial Shareholders, existing Shareholders or
+any of their subsidiaries or their respective close associates in relation to the acquisition,
+disposal, voting or other disposition of the H Shares registered in their name or otherwise
+held by them.
+
+
+--- page 4 ---
+6
+• Save as disclosed in the sections headed “International Offering { Cornerstone Investors ”,
+“International Offering { Placees with the Consent under Paragraph 5(1) of Placing
+Guidelines ” and “International Offering { Placees with the Consent under Paragraph
+5(2) of Placing Guidelines and Rule 10.04 of the Listing Rules ” of this announcement, to
+the best knowledge, information and belief of the Directors, no Offer Shares placed by or
+through the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners,
+the Joint Lead Managers or the Underwriters under the Global Offering have been placed
+with applicants who are core connected persons (as defined in the Listing Rules), or to any
+connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons set
+out in paragraph 5(2) of the Placing Guidelines, whether in their own names or through
+nominees. The International Offering is in compliance with the Placing Guidelines.
+Over-allotment Option
+There has been no over-allocation of International Offer Shares. Accordingly, the Over-allotment
+Option has not been and will not be exercised. In view of the fact that there has been no over-
+allocation in the International Offering, there has been no delayed delivery arrangement with
+any investor under the International Offering, and no stabilization activities as described in the
+Prospectus are expected to take place during the stabilizing period (which will begin on the
+Listing Date and end on the 30th day after the last day for the lodging of applications under the
+Hong Kong Public Offering, i.e. Saturday, October 28, 2023).
+Lock-up Obligations
+The Company, the Controlling Shareholders and the Cornerstone Investors of the Company are
+subject to certain lock-up obligations in respect of the Shares as set out in the paragraph headed
+“Lock-up Obligations ” in this announcement.
+Public Float
+The Directors confirm that immediately following the completion of the Global Offering, (a)
+no placee will, individually, be placed more than 10% of the enlarged issued share capital of
+the Company immediately after the Global Offering; (b) there will not be any new substantial
+shareholder (as defined in the Listing Rules) of the Company immediately after the Global
+Offering; (c) the total number of H Shares of the Company held by the public represents at least
+25% of the Company ’s total number of issued Shares; (d) the three largest public Shareholders of
+the Company do not hold more than 50% of the H Shares in public hands at the time of Listing
+in compliance with Rules 8.08(3) and 8.24 of the Listing Rules; and (e) there will be at least 300
+Shareholders at the time of Listing in compliance with Rule 8.08(2) of the Listing Rules.
+
+
+--- page 5 ---
+7
+Results of Allocations
+The results of allocations and the Hong Kong identity card/passport/Hong Kong business
+registration/certificate of incorporation numbers of successful applicants under the Hong Kong
+Public Offering will be available at the times and date and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.tiantucapital.com
+and the Stock Exchange ’s website at www.hkexnews.hk by no later than 8:00 a.m. on
+Thursday, October 5, 2023. Please note that the list of identification document numbers
+set out in this announcement may not be a complete list of successful applicants since
+only successful applicants whose identification document numbers are provided to
+HKSCC by CCASS Participants are disclosed. Applicants with beneficial names only but
+not identification document numbers are not disclosed due to personal privacy issue as
+elaborated below. Applicants who applied for the Hong Kong Offer Shares through their
+brokers can consult their brokers to enquire about their application results;
+• from the “IPO Results ” function in the IPO App or the designated results of allocations
+website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search
+by ID ” function on a 24 hour basis from 8:00 a.m. on Thursday, October 5, 2023 to 12:00
+midnight on Wednesday, October 11, 2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between
+9:00 a.m. and 6:00 p.m. from Thursday, October 5, 2023 to Wednesday, October 11, 2023
+(exclude Saturday, Sunday and public holiday in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White
+Form ” in this announcement refer to Hong Kong identity card numbers/passport numbers/
+Hong Kong business registration numbers/certificate of incorporation numbers/beneficial owner
+identification codes (if such applications are made by nominees as agent for the benefit of
+another person) whereas those displayed in the section headed “Results of Applications Made by
+Giving Electronic Application Instructions to HKSCC via CCASS ” in this announcement are
+provided by CCASS Participants via CCASS. Therefore, the identification document numbers
+shown in the two sections are different in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK
+eIPO White Form ” and “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS ” are redacted and not all details of applications are
+disclosed in this announcement.
+
+
+--- page 6 ---
+8
+Despatch/Collection of H Share Certificates/e-Auto Refund Payment Instructions/Refund
+Cheques
+• Applicants who applied for 1,000,000 Hong Kong Offer Shares or more through the HK
+eIPO White Form service and who have been wholly successfully or partially successfully
+allocated Hong Kong Offer Shares and are eligible to collect H Share certificates in person
+may collect H Share certificates from the H Share Registrar, Tricor Investor Services
+Limited, at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong from 9:00 a.m.
+to 1:00 p.m. on Thursday, October 5, 2023, or such other place or date as notified by the
+Company as the place or date of despatch/collection of H Share certificates/e-Auto Refund
+payment instructions/refund cheques.
+• Applicants being individuals who are eligible for personal collection cannot authorize any
+other person to make collection on their behalf. Corporate applicants which are eligible
+for personal collection must attend by their authorised representatives bearing letters
+of authorisation from their corporations stamped with the corporations ’ chops. Both
+individuals and authorised representatives (if applicable) must produce, at the time of
+collection, evidence of identity acceptable to Tricor Investor Services Limited.
+• H Share certificates for the Hong Kong Offer Shares allocated to applicants who applied
+for less than 1,000,000 Hong Kong Offer Shares through the HK eIPO White Form
+service are expected to be despatched to those entitled to the address specified in the
+relevant application instructions through the HK eIPO White Form service by ordinary
+post at their own risk on or before Thursday, October 5, 2023.
+• H Share certificates for the Hong Kong Offer Shares allocated to applicants who applied
+through the HK eIPO White Form service which are either not eligible for personal
+collection or which are eligible but are not collected in person by 1:00 p.m. on Thursday,
+October 5, 2023, are expected to be despatched by ordinary post to those entitled to them
+at their own risk on or before Thursday, October 5, 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their H Share certificates issued in the
+name of HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participants who gave electronic application instructions on their behalf on Thursday,
+October 5, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them with that CCASS Participant.
+
+
+--- page 7 ---
+9
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
+before 5:00 p.m. on Thursday, October 5, 2023 or such other date as shall be determined
+by HKSCC or HKSCC Nominees. Applicants who applied as a CCASS Investor Participant
+by giving electronic application instructions to HKSCC via CCASS may also check
+the results of their applications and the amount of refund monies payable to them via the
+CCASS Phone System and the CCASS Internet System (under the procedures contained
+in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time to time)
+immediately after the crediting of the Hong Kong Offer Shares to the CCASS Investor
+Participants stock accounts and the crediting of the refund monies to the CCASS Investor
+Participants bank accounts. HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the number of Hong Kong Offer Shares credited
+to their stock accounts and the refund amount credited to their respective designated bank
+accounts (if any).
+• Applicants who applied through the HK eIPO White Form service and paid the
+application monies from a single bank account will have refund monies (if any) despatched
+to their application payment accounts in the form of e-Auto Refund payment instructions
+on Thursday, October 5, 2023. Applicants who applied through the HK eIPO White Form
+service and paid the application monies from multiple bank accounts will have refund
+monies (if any) despatched to the addresses specified on their HK eIPO White Form
+applications in the form of refund check(s) in favour of the applicant (or, in the case of
+joint applications, the first-named applicant) by ordinary post at their own risk on or before
+Thursday, October 5, 2023.
+• Refund monies for applicants who have applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their brokers or custodians on
+Thursday, October 5, 2023.
+• H Share certificates will only become valid certificates of title at 8:00 a.m. on the Listing
+Date which is expected to be Friday, October 6, 2023, provided that the Global Offering
+has become unconditional in all respects at or before that time and the right of termination
+described in the section headed “Underwriting – Hong Kong Underwriting Arrangements
+{ Hong Kong Public Offering { Grounds for Termination ” in the Prospectus has not been
+exercised.
+• The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+Commencement of Dealings
+H Share certificates for the Hong Kong Offer Shares will only become valid evidence of title
+provided that (i) the Global Offering has become unconditional in all respects; and (ii) neither
+of the Underwriting Agreements has been terminated in accordance with their terms prior to
+8:00 a.m. on the Listing Date. Investors who trade H Shares on the basis of publicly available
+allocation details prior to the receipt of H Share certificates or prior to the H Share certificates
+becoming valid do so at their own risk.
+
+
+--- page 8 ---
+10
+Assuming that the Global Offering becomes unconditional in all respects at or before 8:00 a.m.
+on Friday, October 6, 2023 (Hong Kong time), dealings in the H Shares on the Main Board of
+the Stock Exchange are expected to commence at 9:00 a.m. on Friday, October 6, 2023 (Hong
+Kong time). The H Shares will be traded in board lots of 400 H Shares each. The stock code of
+the H Shares is 1973.
+In view of the high concentration of shareholding in a small number of H Shareholders,
+H Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of H Shares traded, and should exercise
+extreme caution when dealing in H Shares.
+OFFER PRICE
+The Offer Price has been determined at HK$6.50 per Offer Share (excluding brokerage of 1.0%,
+SFC transaction levy of 0.0027%, Hong Kong Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$6.50 per Offer Share, the net proceeds from the Global Offering to
+be received by the Company, after deduction of underwriting fees and commissions and estimated
+expenses payable by the Company in connection with the Global Offering, are estimated to be
+approximately HK$1,008.5 million.
+The Company intends to apply the net proceeds as follows:
+• 65.0%, or approximately HK$655.5 million, will be allocated to further expand the
+Company ’s private equity fund management business;
+• 25.0%, or approximately HK$252.1 million, will be allocated to further develop and
+strengthen the Company ’s direct investment business; and
+• 10.0%, or approximately HK$100.9 million, will be allocated to the Company ’s general
+corporate purposes.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
+the Prospectus.
+As no over-allocation of International Offer Shares has been made, the Over-allotment Option has
+not been and will not be exercised, and no additional proceeds are expected to be received by the
+Company in this connection.
+
+
+--- page 9 ---
+11
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have been
+under-subscribed. At the close of the application lists at 12:00 noon on Thursday, September
+28, 2023, a total of 1,469 valid applications have been received pursuant to the Hong Kong
+Public Offering through the HK eIPO White Form service and giving electronic application
+instructions to HKSCC for a total of 4,549,600 Hong Kong Offer Shares, representing
+approximately 0.26 times of the total number of 17,326,000 Hong Kong Offer Shares initially
+available for subscription under the Hong Kong Public Offering, among which:
+• 1,468 valid applications in respect of a total of 2,549,600 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount based on the
+maximum Offer Price of HK$11.40 per Offer Share (excluding brokerage of 1%, SFC
+transaction levy of 0.0027%, Hong Kong Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%) of HK$5 million or less, representing approximately 0.29
+times of the 8,663,200 Hong Kong Offer Shares initially comprised in Pool A; and
+• 1 valid application in respect of a total of 2,000,000 Hong Kong Offer Shares was for the
+Hong Kong Public Offering with an aggregate subscription amount based on the maximum
+Offer Price of HK$11.40 per Offer Share (excluding brokerage of 1%, SFC transaction levy
+of 0.0027%, Hong Kong Stock Exchange trading fee of 0.00565% and AFRC transaction
+levy of 0.00015%) of more than HK$5 million, representing approximately 0.23 times of the
+8,662,800 Hong Kong Offer Shares initially comprised in Pool B.
+No application was rejected due to invalid application. Two multiple or suspected multiple
+applications were identified and rejected. No application was rejected due to dishonored payments.
+No application for more than 8,662,800 Hong Kong Offer Shares (being approximately 50% of the
+Hong Kong Offer Shares initially available under the Hong Kong Public Offering) was identified.
+As the Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
+under-subscribed, the reallocation procedures as described in the section headed “Structure of the
+Global Offering – The Hong Kong Public Offering – Reallocation and Clawback ” in the Prospectus
+have been applied, and a total number of 12,776,400 unsubscribed Hong Kong Offer Shares have
+been reallocated to the International Offering.
+
+
+--- page 10 ---
+12
+As a result of such reallocation, the final number of Offer Shares under the Hong Kong Public
+Offering is 4,549,600 Offer Shares, representing approximately 2.63% of the total number of
+Offer Shares initially available under the Global Offering, and being allocated to 1,469 successful
+applicants under the Hong Kong Public Offering, among which 949 applicants (representing
+approximately 64.60% of the 1,469 Shareholders who were allocated the Offer Shares under the
+Hong Kong Public Offering) have been allotted one board lot of Offer Shares totalling 379,600 H
+Shares (representing approximately 8.34% of the total Offer Shares under the Hong Kong Public
+Offering after reallocation).
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the paragraph headed “Basis of Allocation under the Hong Kong Public Offering ”
+below.
+INTERNATIONAL OFFERING
+The Offer Shares initially offered under the International Offering have been slightly
+over-subscribed, representing approximately 1.28 times of the total number of Offer Shares
+initially available under the International Offering. The Overall Coordinators have exercised their
+discretion to reallocate the unsubscribed Offer Shares under the Hong Kong Public Offering to the
+International Offering as described in the section headed “Structure of the Global Offering – The
+Hong Kong Public Offering – Reallocation and Clawback ” in the Prospectus. A total number of
+12,776,400 Offer Shares initially available for subscription under the Hong Kong Public Offering
+have been reallocated to the International Offering. As a result of such reallocation, the final
+number of Offer Shares under the International Offering is 168,708,400 Offer Shares, representing
+approximately 97.37% of the total number of Offer Shares initially available under the Global
+Offering (given that the Over-allotment Option has not been and will not be exercised). There has
+not been an over-allocation of Offer Shares under the International Offering and there are a total of
+180 placees under the International Offering, among which 85 placees have been allotted one board
+lot of Offer Shares, totalling 34,000 H Shares, representing approximately 0.02% of the Offer
+Shares initially available under the International Offering (after reallocation).
+
+
+--- page 11 ---
+13
+Cornerstone Investors
+Based on the final Offer Price of HK$6.50 per Offer Share (exclusive of brokerage of 1%, SFC
+transaction levy of 0.0027%, Hong Kong Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%) and pursuant to the relevant Cornerstone Investment Agreements as
+disclosed in the section headed “Cornerstone Investment ” in the Prospectus, the number of Offer
+Shares subscribed for by the Cornerstone Investors is determined as set out below:
+Cornerstone Investors
+Total
+Investment
+Amount
+Number of
+H Shares
+subscribed
+(rounded down
+to nearest
+whole board
+lot of 400
+H Shares) (1)
+Approximate
+% of
+H Shares
+in issue
+immediately
+following
+the completion
+of Global
+Offering (2)
+Approximate
+% of
+total issued
+share capital
+immediately
+following
+the completion
+of Global
+Offering (2)
+(US$ in million)
+Futian Guiding Fund 30.9 37,260,000 21.51% 5.38%
+Qingdao Haiming (3) 9.1 11,000,000 6.35% 1.59%
+Qingdao Hainuo (3) 9.4 11,300,000 6.52% 1.63%
+Qingdao Financial (3) 12.5 15,000,000 8.66% 2.16%
+Total(4) 61.9 74,560,000 43.03% 10.76%
+Notes:
+(1) The final number of the Offer Shares allotted to each of the Cornerstone Investors was calculated with reference
+to the actual Hong Kong dollar amount of their respective investment remitted and the exchange rate at the
+actual date of their payment/remittance, if applicable. Due to the currency exchange difference, the final number
+of Offer Shares allotted may be different from the illustrative number of Offer Shares to be subscribed by
+certain Cornerstone Investors as disclosed in the Prospectus.
+(2) The Overall Coordinators and the Joint Global Coordinators confirm that no over-allocation of International
+Offer Shares has been made and the Over-allotment Option has not been and will not be exercised.
+(3) Each of Qingdao Haiming, Qingdao Hainuo and Qingdao Financial is ultimately controlled by Qingdao
+Municipal People ’s Government (ִ݁As the Offer Price is finally determined to be HK$6.50, the
+LR8.08(3) Adjustment set out on page 371 of the Prospectus under the section headed “Cornerstone Investment ”
+has been triggered. The total investment amounts of the Cornerstone Investors have been reduced to US$61.9
+million, while the aggregate investment amounts of the three largest public Shareholders (including the
+Cornerstone Investors) have been reduced by US$71.9 million, in which case the total Offer Shares allocated to
+the three largest public Shareholders would represent approximately 49.99% of the Shares in public hands.
+(4) Any discrepancies in the tables above between the amounts identified as total amounts and the sum of the
+amounts listed therein are due to rounding.
+
+
+--- page 12 ---
+14
+11,300,000 Offer Shares, representing approximately 1.63% of the Shares in issue immediately
+upon the completion of the Global Offering (given that the Over-allotment Option has not been
+and will not be exercised), were placed to Qingdao Hainuo as a Cornerstone Investor. For the
+purpose of the Qingdao Hainuo Cornerstone Investment, Qingdao Hainuo has engaged Galaxy
+Jinhui, an asset manager that is a QDII as approved by the relevant PRC authority, to subscribe
+for the H Shares under the cornerstone investment in the name of its financial product, Galaxy
+Asset Management Plan, on a non-discretionary basis on behalf of Qingdao Hainuo under the
+International Offering. As Galaxy Jinhui and Galaxy Securities (as one of the capital market
+intermediaries, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers in the
+Global Offering) are members of a group of companies controlled by China Galaxy Securities Co.,
+Ltd. (ʮ̡ ), Galaxy Jinhui is a “connected client ” of Galaxy Securities
+for the purpose of paragraph 13(7) of Appendix 6 to the Listing Rules. The Company has applied
+to the Stock Exchange for, and the Stock Exchange has granted, its consent under paragraph 5(1)
+of the Placing Guidelines to permit Qingdao Hainuo to participate in the Global Offering through
+Galaxy Jinhui as the asset manager in the name of Galaxy Asset Management Plan. Please refer to
+the section headed “Waivers from Strict Compliance with the Listing Rules ” in the Prospectus.
+To the best knowledge of the Directors, (i) each of the Cornerstone Investors is an Independent
+Third Party and is not our connected person (as defined in the Listing Rule); (ii) the Cornerstone
+Investors are not accustomed to take instructions from our Company, the Directors, the
+Supervisors, chief executive, the Controlling Shareholders, the substantial Shareholders, other
+existing Shareholders or any of its subsidiaries or their respective close associates in relation to the
+acquisition, disposal, voting, or other disposition of H Shares registered in their name or otherwise
+held by them; and (iii) none of the subscription of the relevant Offer Shares by the Cornerstone
+Investors is financed by the Company, the Directors, the Supervisors, chief executive, substantial
+Shareholders, other existing Shareholders or any of its subsidiaries or their respective close
+associates.
+The Cornerstone Placing will form part of the International Offering and the Cornerstone Investors
+will not subscribe for any Offer Shares under the Global Offering (other than pursuant to the
+Cornerstone Investment Agreements). The Offer Shares to be subscribed by the Cornerstone
+Investors will rank pari passu in all respect with the fully paid Shares in issue and will be counted
+towards the public float of our Company under Rule 8.08 of the Listing Rules. Immediately
+following the completion of the Global Offering, none of the Cornerstone Investors will become
+a substantial Shareholder of our Company. The Cornerstone Investors or their close associates
+will not, by virtue of their cornerstone investments, have any Board representation in our
+Company. Other than a guaranteed allocation of the relevant Offer Shares at the final Offer Price,
+the Cornerstone Investors do not have any preferential rights in the Cornerstone Investment
+Agreements compared with other public Shareholders. As confirmed by the Cornerstone Investors,
+(i) their subscription under the Cornerstone Placing would be financed by their internal resources
+and/or the financial resources of their shareholders; and (ii) there are no side arrangements or
+agreements between the Company and the Cornerstone Investors for the purpose of the Cornerstone
+Investments.
+Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at
+any time during the period of six (6) months following the Listing Date (the “Lock-up Period ”),
+dispose of any of the Offer Shares it has purchased pursuant to the relevant Cornerstone Investment
+Agreement, save for certain limited circumstances, such as transfers to any of its wholly-owned
+subsidiaries which will be bound by the same obligations of such Cornerstone Investor, including
+the Lock-up Period restriction.
+
+
+--- page 13 ---
+15
+Please refer to the section headed “Cornerstone Investment ” in the Prospectus for further details
+relating to the Cornerstone Investors.
+Placees with the Consent under Paragraph 5(1) of Placing Guidelines
+Certain Offer Shares were placed to the following placees who are connected clients of certain lead
+brokers or distributor within the meaning of the Placing Guidelines. The Company has applied to
+the Stock Exchange for, and the Stock Exchange has granted, its consent under paragraph 5(1) of
+the Placing Guidelines to permit the Company to allocate such Offer Shares as set out below.
+Placee
+Connected
+Underwriters or
+Distributor
+Relationship with
+the Connected Underwriters
+or Distributor
+Number of
+Offer Shares
+placed
+Approximate %
+of the Offer
+Shares initially
+available under
+the Global
+Offering (1)
+Approximate %
+of the total issued
+share capital
+immediately
+following the
+completion of the
+Global Offering (1)
+Connected Clients holding H Shares on a non-discretionary basis
+Galaxy Asset Management Plan
+(subscribing for and holding the
+Offer Shares on behalf of Qingdao
+Hainuo, a Cornerstone Investor)
+Galaxy Securities Both Galaxy Jinhui, the asset
+manager of Galaxy Asset
+Management Plan, and Galaxy
+Securities are members of a group
+of companies controlled by China
+Galaxy Securities Co., Ltd. ( ʕ
+ʮ̡ )
+11,300,000 6.52% 1.63%
+Note:
+(1) The Overall Coordinators and the Joint Global Coordinators confirm that no over-allocation of International
+Offer Shares has been made and the Over-allotment Option has not been and will not be exercised.
+
+
+--- page 14 ---
+16
+Placees with the Consent under Paragraph 5(2) of Placing Guidelines and Rule 10.04 of the
+Listing Rules
+Certain Offer Shares were placed to Marvel Horizon Limited, a close associate of an existing
+holder of the Company ’s Shares quoted on the NEEQ. The Company has applied to the Stock
+Exchange for, and the Stock Exchange has granted, a waiver from strict compliance with Rule
+10.04 of the Listing Rules and its consent under paragraph 5(2) of the Placing Guidelines to permit
+the Company to allocate such H Shares to Marvel Horizon Limited as set out below.
+Placee
+Relationship with
+the Company
+Number of
+Offer Shares
+placed
+Approximate %
+of the total Offer
+Shares initially
+available under
+the Global
+Offering (1)
+Approximate %
+of the Company ’s
+issued share
+capital
+immediately
+following the
+completion of the
+Global Offering (1)
+Marvel Horizon Limited A close associate of Mr. Cao
+Minghui, an existing holder
+of the Company ’s Shares
+quoted on the NEEQ
+10,710,000 6.18% 1.55%
+Note:
+(1) The Overall Coordinators and the Joint Global Coordinators confirm that no over-allocation of International
+Offer Shares has been made and the Over-allotment Option has not been and will not be exercised.
+To the best knowledge of the Company, save for Marvel Horizon Limited, a close associate
+of an existing holder of the Company ’s Shares quoted on the NEEQ, (i) none of the Offer
+Shares subscribed by public shareholders in the Hong Kong Public Offering and placees in the
+International Offering has been directly or indirectly financed by the Company, the Directors,
+the Supervisors, chief executive, the Controlling Shareholders, substantial Shareholders, existing
+Shareholders or any of its subsidiaries or their respective close associates; and (ii) none of the
+public shareholders in the Hong Kong Public Offering and placees in the International Offering
+who has subscribed for the Offer Shares is accustomed to taking instructions from the Company,
+the Directors, the Supervisors, chief executive, the 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 the Shares registered in their
+name or otherwise held by them. The International Offering is in compliance with the Placing
+Guidelines.
+Save as disclosed in the above sections headed “International Offering { Cornerstone Investors ”,
+“International Offering { Placees with the Consent under Paragraph 5(1) of Placing Guidelines ”
+and “International Offering { Placees with the Consent under Paragraph 5(2) of Placing
+Guidelines and Rule 10.04 of the Listing Rules ” of this announcement, to the best knowledge,
+information and belief of the Directors, no Offer Shares placed by or through the Overall
+Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers or the
+Underwriters under the Global Offering have been placed with applicants who are core connected
+persons (as defined in the Listing Rules) or directors of the Company, or to any connected clients
+(as set out in paragraph 5(1) of the Placing Guidelines), or persons set out in paragraph 5(2) of the
+Placing Guidelines, whether in their own names or through nominees.
+
+
+--- page 15 ---
+17
+Over-allotment Option
+In connection with the Global Offering, the Company has granted the Over-allotment Option to the
+International Underwriters, exercisable by the Overall Coordinators (for themselves and on behalf
+of the International Underwriters), at any time from the Listing Date to Saturday, October 28,
+2023, being the 30th day after the last day for lodging applications under the Hong Kong Public
+Offering, to require the Company to allot and issue up to an aggregate of 25,988,000 additional H
+Shares, representing approximately 15.0% of the total number of Offer Shares initially available
+under the Global Offering, at the Offer Price to cover the over-allocations in the International
+Offering. There has been no over-allocation of International Offer Shares. Accordingly, the Over-
+allotment Option has not been and will not be exercised. In view of the fact that there has been no
+over-allocation in the International Offering, there has been no delayed delivery arrangement with
+any investor under the International Offering, and no stabilization activities as described in the
+Prospectus are expected to take place during the stabilizing period (which will begin on the Listing
+Date and end on the 30th day after the last day for the lodging of applications under the Hong
+Kong Public Offering, i.e. Saturday, October 28, 2023). The Company will ensure or procure that
+a public announcement in compliance with the Securities and Futures (Price Stabilizing) Rules will
+be issued within seven days after the end of the stabilizing period.
+LOCK-UP OBLIGATIONS
+The Company, the Controlling Shareholders, the other existing Shareholders and the Cornerstone
+Investors are subject to lock-up obligations (the “Lock-up Obligations ”) in respect of the Shares.
+The major terms of the Lock-up Obligations are as follows:
+Name Type of Shares
+Number of
+Shares held in
+the Company
+subject to the
+Lock-up
+Obligations
+upon the
+Listing
+Percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Obligations
+after Listing (1)
+Last day
+subject to the
+Lock-up
+Obligations
+The Company (subject to lock-
+up obligations pursuant to the
+Listing Rules and the Hong Kong
+Underwriting Agreement) N/A N/A N/A April 6, 2024 (2)
+The Controlling Shareholders (subject
+to lock-up obligations pursuant to the
+Listing Rules and the Underwriting
+Agreements)
+Mr. Wang Unlisted Shares 209,748,220 30.27% April 6, 2024 (3)
+October 6, 2024 (3)
+Tiantu Xinghe Unlisted Shares 8,750,000 1.26% April 6, 2024 (3)
+October 6, 2024 (3)
+Tiantu Xingzhi Unlisted Shares 8,750,000 1.26% April 6, 2024 (3)
+October 6, 2024 (3)
+
+
+--- page 16 ---
+18
+Name Type of Shares
+Number of
+Shares held in
+the Company
+subject to the
+Lock-up
+Obligations
+upon the
+Listing
+Percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Obligations
+after Listing (1)
+Last day
+subject to the
+Lock-up
+Obligations
+Cornerstone Investors (subject to lock-up
+obligations pursuant to their respective
+Cornerstone Investment Agreements)
+Futian Guiding Fund H Shares 37,260,000 5.38% April 6, 2024 (4)
+Qingdao Haiming H Shares 11,000,000 1.59% April 6, 2024 (4)
+Qingdao Hainuo H Shares 11,300,000 1.63% April 6, 2024 (4)
+Qingdao Financial H Shares 15,000,000 2.16% April 6, 2024 (4)
+Notes:
+(1) The Overall Coordinators and the Joint Global Coordinators confirm that no over-allocation of International
+Offer Shares has been made and the Over-allotment Option has not been and will not be exercised.
+(2) The Company may not issue Shares prior to the indicated date in accordance with Rule 10.08 of the Listing
+Rules.
+(3) The Controlling Shareholders shall not (a) dispose of any of the relevant securities of the Company in the First
+Six-Month Period; and (b) dispose of any of the relevant securities of the Company in the Second Six-Month
+Period, respectively, if immediately following such disposal the Controlling Shareholder would cease to be a
+controlling shareholder (as defined in the Listing Rules) of the Company. For further details, please refer to
+the paragraphs headed “Underwriting { Undertakings to the Stock Exchange pursuant to the Listing Rules {
+Undertakings by our Controlling Shareholders ” in the Prospectus.
+(4) Save for certain limited circumstances (such as transfer to its wholly-owned subsidiaries) as set out in the
+Cornerstone Investment Agreements, each of the Cornerstone Investors shall not dispose of any of the Offer
+Shares acquired in the Global Offering pursuant to the relevant Cornerstone Investment Agreement on or before
+the indicated date.
+PUBLIC FLOAT
+The Directors confirm that immediately following the completion of the Global Offering, (a)
+no placee will, individually, be placed more than 10% of the enlarged issued share capital of
+the Company immediately after the Global Offering; (b) there will not be any new substantial
+shareholder (as defined in the Listing Rules) of the Company immediately after the Global
+Offering; (c) the total number of H Shares of the Company held by the public represents at least
+25% of the Company ’s total number of issued Shares; (d) the three largest public Shareholders of
+the Company do not hold more than 50% of the H Shares in public hands at the time of Listing
+in compliance with Rules 8.08(3) and 8.24 of the Listing Rules; and (e) there will be at least 300
+Shareholders at the time of Listing in compliance with Rule 8.08(2) of the Listing Rules.
+
+
+--- page 17 ---
+19
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure of the
+Global Offering { Conditions of the Global Offering ” in the Prospectus, valid applications made
+by the public through giving electronic applications instructions to HKSCC via CCASS and
+through the HK eIPO White Form service will be conditionally allocated on the basis set out
+below:
+NO. OF
+H SHARES
+APPLIED
+FOR
+NO. OF VALID
+APPLICATIONS BASIS OF ALLOTMENT/BALLOT
+PERCENTAGE
+ALLOTTED OF
+THE TOTAL NO.
+OF H SHARES
+APPLIED FOR
+POOL A
+400 949 400 shares 100.00%
+800 167 800 shares 100.00%
+1,200 67 1,200 shares 100.00%
+1,600 46 1,600 shares 100.00%
+2,000 75 2,000 shares 100.00%
+2,400 14 2,400 shares 100.00%
+2,800 18 2,800 shares 100.00%
+3,200 13 3,200 shares 100.00%
+3,600 3 3,600 shares 100.00%
+4,000 36 4,000 shares 100.00%
+6,000 19 6,000 shares 100.00%
+8,000 16 8,000 shares 100.00%
+10,000 23 10,000 shares 100.00%
+20,000 10 20,000 shares 100.00%
+30,000 5 30,000 shares 100.00%
+40,000 2 40,000 shares 100.00%
+50,000 1 50,000 shares 100.00%
+100,000 3 100,000 shares 100.00%
+200,000 1 200,000 shares 100.00%
+Total: 1,468 Total number of Pool A successful applicants: 1,468
+NO. OF
+H SHARES
+APPLIED
+FOR
+NO. OF VALID
+APPLICATIONS BASIS OF ALLOTMENT/BALLOT
+PERCENTAGE
+ALLOTTED OF
+THE TOTAL NO.
+OF H SHARES
+APPLIED FOR
+POOL B
+2,000,000 1 2,000,000 shares 100.00%
+Total: 1 Total number of Pool B successful applicants: 1
+The final number of Offer Shares under the Hong Kong Public Offering is 4,549,600 Offer Shares,
+representing approximately 2.63% of the total number of Offer Shares initially available under the
+Global Offering.
+
+
+--- page 18 ---
+20
+RESULTS OF ALLOCATIONS
+The results of allocations and the Hong Kong identity card/passport/Hong Kong business
+registration/certificate of incorporation numbers of successful applicants under the Hong Kong
+Public Offering will be available at the times and date and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.tiantucapital.com and
+the Stock Exchange ’s website at www.hkexnews.hk by no later than 8:00 a.m. on Thursday,
+October 5, 2023. Please note that the list of identification document numbers set out in this
+announcement may not be a complete list of successful applicants since only successful
+applicants whose identification document numbers are provided to HKSCC by CCASS
+Participants are disclosed. Applicants with beneficial names only but not identification
+document numbers are not disclosed due to personal privacy issue as elaborated below.
+Applicants who applied for the Hong Kong Offer Shares through their brokers can consult
+their brokers to enquire about their application results;
+• from the “IPO Results ” function in the IPO App or the designated results of allocations
+website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search
+by ID ” function on a 24 hour basis from 8:00 a.m. on Thursday, October 5, 2023 to 12:00
+midnight on Wednesday, October 11, 2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between 9:00
+a.m. and 6:00 p.m. from Thursday, October 5, 2023 to Wednesday, October 11, 2023 (exclude
+Saturday, Sunday and public holiday in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White Form ”
+in this announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner identification
+codes (if such applications are made by nominees as agent for the benefit of another person)
+whereas those displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS
+Participants via CCASS. Therefore, the identification document numbers shown in the two sections
+are different in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK eIPO
+White Form ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+The final Offer Price, the level of indication of interest in the International Offering, the level
+of applications in the Hong Kong Public Offering and the basis of allocation of the Hong Kong
+Offer Shares will be announced on Thursday, October 5, 2023 on the Company ’s website at
+www.tiantucapital.com and the Stock Exchange ’s website at www.hkexnews.hk .
+
+
+--- page 19 ---
+21
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee Subscription
+Number of
+H Shares
+held upon
+Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares
+Subscription
+as % of total
+Offer Shares
+Number of
+H Shares as
+% of total
+H Shares
+Number of
+Shares as
+% of total
+Shares
+upon Listing
+Top 1 37,300,000 37,300,000 37,300,000 22.11% 21.53% 21.53% 5.38%
+Top 5 110,158,800 110,158,800 110,158,800 65.30% 63.58% 63.58% 15.90%
+Top 10 147,296,800 147,296,800 148,005,600 87.31% 85.02% 85.02% 21.36%
+Top 20 168,421,200 168,421,200 169,130,000 99.83% 97.21% 97.21% 24.40%
+Top 25 168,606,400 168,606,400 169,315,200 99.94% 97.32% 97.32% 24.43%
+• Top 1, 5, 10, 20 and 25 of the Shareholders upon Listing:
+Shareholder Subscription
+Number of
+H Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares
+Subscription
+as % of total
+Offer Shares
+Number of
+H Shares as
+% of total
+H Shares
+Number of
+Shares as
+% of total
+ Shares
+upon Listing
+Top 1 – – 209,748,220 – – – 30.27%
+Top 5 74,560,000 74,560,000 389,453,857 44.19% 43.03% 43.03% 56.20%
+Top 10 110,158,800 110,158,800 453,993,251 65.30% 63.58% 63.58% 65.51%
+Top 20 153,266,800 153,266,800 530,317,086 90.85% 88.46% 88.46% 76.52%
+Top 25 153,266,800 153,266,800 554,362,108 90.85% 88.46% 88.46% 79.99%
+• Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company upon Listing:
+H Shareholder Subscription
+Number of
+H Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares (3)
+Subscription
+as % of total
+Offer Shares
+Number of
+H Shares as
+% of total
+H Shares
+Number of
+Shares as
+% of total
+Shares
+upon Listing
+Top 1 37,300,000 37,300,000 37,300,000 22.11% 21.53% 21.53% 5.38%
+Top 5 110,158,800 110,158,800 110,158,800 65.30% 63.58% 63.58% 15.90%
+Top 10 147,296,800 147,296,800 148,005,600 87.31% 85.02% 85.02% 21.36%
+Top 20 169,521,200 169,521,200 170,230,000 100.48% (4) 97.84% 97.84% 24.56%
+Top 25 170,921,200 170,921,200 171,630,000 101.31% (4) 98.65% 98.65% 24.77%
+Notes:
+(1) Top Shareholders are determined by reference to the aggregate of the Unlisted Shares held by registered
+Shareholders upon Listing and the H Shares subscribed in the Global Offering.
+(2) The number of Shares is determined by reference to the aggregate of the Unlisted Shares held by the relevant
+Shareholders upon Listing and the H Shares subscribed in the Global Offering.
+(3) Represents the subscription level as a percentage of the total number of Shares under the International Offering
+after reallocation.
+(4) Includes the H Shares subscribed under the Hong Kong Public Offering.
+
+
+--- page 20 ---
+22
+In view of the high concentration of shareholding in a small number of H Shareholders,
+H Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of H Shares traded, and should exercise
+extreme caution when dealing in H Shares.
diff --git a/data/extracted_text/02105/allotment_results_summary_2023-06-28_2023062800054.txt b/data/extracted_text/02105/allotment_results_summary_2023-06-28_2023062800054.txt
new file mode 100644
index 0000000..08f69ec
--- /dev/null
+++ b/data/extracted_text/02105/allotment_results_summary_2023-06-28_2023062800054.txt
@@ -0,0 +1,845 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+OFFER PRICE
+• The Offer Price is HK$12.41 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+• At the Offer Price of HK$12.41 per Offer Share, the net proceeds from the Global Offering
+to be received by the Company, after deduction of the underwriting fees and commissions
+and other estimated expenses payable by the Company in connection with the Global
+Offering, are estimated to be approximately HK$708.2 million. The Company intends
+to apply such net proceeds from the Global Offering in the manner set out in the section
+headed “Net Proceeds from the Global Offering ” in this announcement.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been slightly over-subscribed. A total of 2,570 valid applications have been received
+pursuant to the Hong Kong Public Offering through the White Form eIPO service and
+through the CCASS EIPO service for a total of 37,009,000 Hong Kong Offer Shares,
+representing approximately 5.81 times of the total number of 6,373,000 Hong Kong Offer
+Shares initially available for subscription under the Hong Kong Public Offering.
+• As the over-subscription in the Hong Kong Public Offering is less than 15 times, the reallocation
+procedures as described in the section headed “Structure of the Global Offering – The Hong
+Kong Public Offering – Reallocation and Clawback ” in the Prospectus have not been
+applied and no International Offer Shares have been reallocated from the International
+Offering to the Hong Kong Public Offering. The final number of Hong Kong Offer
+Shares under the Hong Kong Public Offering is 6,373,000 Offer Shares, representing
+approximately 10% of the total number of Offer Shares initially available under the Global
+Offering. There are a total number of 1,150 Shareholders who were allocated Offer Shares
+under the Hong Kong Public Offering, among which, 724 Shareholders, representing
+approximately 62.96% of the Shareholders who were allocated Offer Shares under the
+Hong Kong Public Offering, were allocated with one board lot of the Offer Shares, totaling
+362,000 Offer Shares, representing approximately 5.68% of the total Offer Shares under
+the Hong Kong Public Offering.
+
+
+--- page 2 ---
+4
+INTERNATIONAL OFFERING
+• The International Offer Shares initially offered under the International Offering have
+been slightly over-subscribed, representing approximately 1.09 times of the total number
+of Offer Shares initially available under the International Offering. The final number of
+International Offer Shares under the International Offering is 57,355,000 Offer Shares,
+representing approximately 90% of the total number of Offer Shares initially available
+under the Global Offering.
+• There are a total of 117 placees under the International Offering, among which 104 placees,
+representing approximately 88.89% of the total number of placees under the International
+Offering, have been allotted one board lot of Offer Shares, totaling 52,000 Offer Shares,
+representing approximately 0.09% of the total number of Offer Shares available under the
+International Offering.
+Cornerstone Investors
+• At the Offer Price of HK$12.41 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%) and pursuant to the Cornerstone Investment Agreements entered
+into with the Cornerstone Investors as disclosed in the section headed “Cornerstone
+Investors ” in the Prospectus, the Cornerstone Investors have subscribed for a total of
+54,806,500 Offer Shares, representing approximately 14.05% of the total issued share
+capital of the Company immediately upon the completion of the Global Offering and
+approximately 86.00% of the number of Offer Shares under the Global Offering.
+• The Company has applied to the Stock Exchange for a waiver from strict compliance with
+the requirements under Rule 10.04 of, and a consent under paragraph 5(2) of Appendix
+6 (the “Placing Guidelines ”) to, the Listing Rules to allow Future Industry Investment
+Fund II (an existing Shareholder) ( “FIIF”), OrbiMed Asia Partners III, L.P. (an existing
+Shareholder) ( “OrbiMed ”) and Ningbo Yaoshang Yanchuang Chenkai Venture Capital
+Partnership (Limited Partnership) (a close associate of Jiangsu Yanyuan Oriental Venture
+Capital Investment Partnership (LP), Ningbo Yanyuan Innovation Venture Capital
+Investment Partnership (LP), Ningbo Yanchuang Yaoshang Yangming Venture Capital
+Investment Partnership (LP), Ningbo Rongshun Yanyuan Venture Capital Investment
+Partnership (LP), Ningbo Yanchuang Xiangshang Venture Capital Partnership (Limited
+Partnership), Ningbo Yanchuang Borong Venture Capital Partnership (Limited Partnership)
+and Yanchuang Biotech Investment L.P., all are existing Shareholders) ( “Yanchuang
+Chenkai ”) to participate as cornerstone investors in the Global Offering. In the case
+of subscription by OrbiMed, the Company has also applied for a waiver from strict
+compliance with the requirement under Rule 9.09(b) of the Listing Rules. The Stock
+Exchange has granted the Company the requested waiver and consent. Please refer to the
+section headed “Waivers and Exemptions ” in the Prospectus.
+• Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further
+details of the Cornerstone Investors.
+
+
+--- page 3 ---
+5
+Placing of Offer Shares to an existing Shareholder
+• In addition to the placing of Offer Shares in the International Offering to existing
+Shareholders and their close associate under the Cornerstone Investment Agreements as
+disclosed above, a total of 2,298,500 Offer Shares, representing approximately 3.61% of
+the total number of Offer Shares initially available under the Global Offering, were placed
+to Mr. Lin Dianhai ( “Mr. Lin ”), an existing Shareholder of the Company. The Company
+has applied to the Stock Exchange for a waiver from strict compliance with Rule 10.04 of
+the Listing Rules and a consent under paragraph 5(2) of the Placing Guidelines to permit
+the Company to allocate Offer Shares in the International Offering to Mr. Lin. The Stock
+Exchange has granted the Company the requested waiver and consent.
+CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
+OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
+• To the best knowledge, information and belief of the Directors, save as otherwise disclosed
+in this announcement, no Offer Shares placed by or through the Overall Coordinator,
+the Sole Global Coordinator, the Joint Bookrunners, the Joint Lead Managers or the
+Underwriters under the Global Offering have been placed to applicants who are core
+connected persons of the Company, or connected clients (as set out in paragraph 5(1) of the
+Placing Guidelines), or persons set out in paragraph 5(2) of the Placing Guidelines, whether
+in their own names or through nominees. The International Offering is in compliance with
+the Placing Guidelines.
+• The Directors confirm that, to the best of their knowledge, information and belief, save
+as otherwise disclosed in this announcement, (i) none of the Offer Shares subscribed by
+public Shareholders in the Hong Kong Public Offering and placees in the International
+Offering has been financed directly or indirectly by the Company, its Directors, chief
+executive, substantial Shareholders, existing Shareholders or any of their subsidiaries or
+their respective close associates; (ii) no rebate has been, directly or indirectly, provided by
+the Company, its Directors, chief executive, substantial Shareholders, existing Shareholders
+or any of their subsidiaries or their respective close associates or syndicate members
+or any other brokers to any public Shareholders in the Hong Kong Public Offering or
+placees in the International Offering; (iii) none of the public Shareholders in the Hong
+Kong Public Offering and placees in the International Offering who has subscribed for the
+Offer Shares is accustomed to taking instructions from the Company, its Directors, chief
+executive, substantial Shareholders, existing Shareholders or any of their subsidiaries or
+their respective close associates in relation to the acquisition, disposal, voting or other
+disposition of the Shares registered in his/her/its name or otherwise held by him/her/it; (iv)
+the consideration payable by the public Shareholders in the Hong Kong Public Offering
+and placees in the International Offering for each Offer Share subscribed for or purchased
+by them is the same as the Offer Price, in addition to brokerage of 1.0%, SFC transaction
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
+0.00565%; and (v) there is no side agreement or arrangement between the Company, its
+Directors, chief executive, substantial Shareholders, existing Shareholders or any of their
+subsidiaries or their respective close associates or syndicate members or any other brokers,
+on one hand, and the public Shareholders or the placees who have subscribed for the Offer
+Shares, on the other hand.
+• The Directors confirm that, to the best of their knowledge, information and belief, none
+of the placees under the International Offering will be placed more than 10% of the
+enlarged issued share capital of the Company immediately following the completion of
+the Global Offering. Accordingly, the Directors confirm that none of the placees will
+become a substantial Shareholder of the Company immediately following the completion
+of the International Offering, and there will not be any new substantial Shareholder of the
+Company immediately following the completion of the Global Offering.
+
+
+--- page 4 ---
+6
+LOCK-UP UNDERTAKINGS
+• Each of the Company, the Cornerstone Investors and all existing Shareholders is subject to
+certain lock-up undertakings set out in the section headed “Lock-up Undertakings ” in this
+announcement.
+RESULTS OF ALLOCATIONS
+• Results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
+Offering, including the Offer Price, the level of indications of interest in the International
+Offering, the level of applications in the Hong Kong Public Offering and the basis of
+allocation of the Hong Kong Offer Shares will be published on Wednesday, June 28,
+2023 on the websites of the Stock Exchange at www.hkexnews.hk and the Company at
+www.laekna.com .
+• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
+Offering successfully applied for through the White Form eIPO service or through the
+CCASS EIPO service, including the Hong Kong identity card numbers, passport numbers,
+Hong Kong business registration numbers or certificate of incorporation numbers of
+successful applicants (where applicable) and the number of Hong Kong Offer Shares
+successfully applied for, will be made available at the times and dates and in the manner
+specified below:
+• in the announcement to be posted on the Company ’s website at www.laekna.com
+and the Stock Exchange ’s website at www.hkexnews.hk by no later than 8:00 a.m.
+on Wednesday, June 28, 2023. Please note that the list of identification document
+numbers set out in this announcement may not be a complete list of successful
+applicants since only successful applicants whose identification document numbers
+are provided to HKSCC by CCASS Participants or via the White Form eIPO
+service are disclosed. Applicants with beneficial names only but not identification
+document numbers are not disclosed due to personal privacy issue as elaborated
+below. Applicants who applied for the Hong Kong Offer Shares through their brokers
+or nominees can consult their brokers or nominees to enquire about their application
+results;
+• from the designated results of allocations website at www.iporesults.com.hk (alternatively:
+English https://www.eipo.com.hk/en/Allotment; Chinese https://www.eipo.com.hk/zh-hk/Allotment)
+with a “search by ID” function on a 24-hour basis from 8:00 a.m. on Wednesday, June 28,
+2023 to 12:00 midnight on Tuesday, July 4, 2023; and
+• from the allocation results telephone enquiry by calling +852 2862 8555 between
+9:00 a.m. and 6:00 p.m. from Wednesday, June 28, 2023 to Monday, July 3, 2023
+(excluding Saturday, Sunday and public holiday in Hong Kong).
+
+
+--- page 5 ---
+7
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by White
+Form eIPO ” in this announcement refer to Hong Kong identity card numbers/passport
+numbers/Hong Kong business registration numbers/certificate of incorporation numbers/
+beneficial owner identification codes (if such applications are made by nominees as agent
+for the benefit of another person), whereas those displayed in the section headed “Results
+of Applications Made by Giving Electronic Application Instructions to HKSCC via
+CCASS” in this announcement are provided by CCASS Participants via CCASS. Therefore,
+the identification document numbers shown in the two sections are different in nature.
+• Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications
+Made by White Form eIPO ” and “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” are redacted and not all details of
+applications are disclosed in this announcement.
+DESPATCH/COLLECTION OF SHARE CERTIFICATES AND REFUND MONIES
+• Applicants who applied for 1,000,000 Hong Kong Offer Shares or more through the White
+Form eIPO service and who have been wholly or partially successfully allocated Hong
+Kong Offer Shares may collect Share certificates and/or refund cheques (where applicable)
+in person from the Hong Kong Share Registrar, Computershare Hong Kong Investor
+Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen ’s Road
+East, Wan Chai, Hong Kong from 9:00 a.m. to 1:00 p.m. on Wednesday, June 28, 2023 or
+any other place or date as notified by the Company.
+• Applicants being individuals who are eligible for personal collection must not authorize
+any other person to make collection on their behalf. Corporate applicants which are
+eligible for personal collection must attend by their authorized representatives bearing
+letters of authorization from their corporations stamped with the corporations ’ chops. Both
+individuals and authorized representatives (if applicable) must produce, at the time of
+collection, evidence of identity acceptable to Computershare Hong Kong Investor Services
+Limited.
+• Share certificates for Hong Kong Offer Shares allotted to applicants who applied through
+the White Form eIPO service which are either not available for personal collection
+(including applicants who applied for less than 1,000,000 Hong Kong Offer Shares through
+the White Form eIPO service) or which are available but are not collected in person
+by 1:00 p.m. on Wednesday, June 28, 2023 are expected to be despatched by ordinary
+post to the addresses specified in the relevant applications at their own risk on or before
+Wednesday, June 28, 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their Share certificates issued in the name of
+HKSCC Nominees Limited and deposited directly into CCASS for credit to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participant who gave electronic application instructions on their behalf on Wednesday,
+June 28, 2023.
+
+
+--- page 6 ---
+8
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them and the amount of refund monies payable to them with that CCASS Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
+before 5:00 p.m. on Wednesday, June 28, 2023 or such other date as shall be determined
+by HKSCC or HKSCC Nominees. Applicants who applied as a CCASS Investor Participant
+by giving electronic application instructions to HKSCC via CCASS may also check
+the results of their applications and the amount of refund monies payable to them via the
+CCASS Phone System and the CCASS Internet System (under the procedures contained
+in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time to time).
+Immediately after the crediting of the Hong Kong Offer Shares to the CCASS Investor
+Participants stock accounts and the crediting of the refund monies to their respective
+designated bank account, HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the number of Hong Kong Offer Shares credited
+to their stock accounts and the amount of refund monies (if any) credited to their respective
+designated bank accounts.
+• Applicants who applied through the White Form eIPO service and paid the application
+monies through a single bank account will have refund monies (if any) despatched to
+their application payment bank account in the form of e-Refund payment instructions on
+or before Wednesday, June 28, 2023. Applicants who applied through the White Form
+eIPO service and paid the application monies through multiple bank accounts will have
+refund monies (if any) despatched to the addresses specified on their White Form eIPO
+applications in the form of refund cheque(s) by ordinary post at their own risk on or before
+Wednesday, June 28, 2023.
+• Refund monies (if any) for applicants who applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to their designated bank
+accounts or the designated bank accounts of their brokers or custodians on Wednesday,
+June 28, 2023.
+• Share certificates will only become valid evidence of title at 8:00 a.m. (Hong Kong time)
+on Thursday, June 29, 2023 provided that the Global Offering has become unconditional
+in all respects at or before that time and the right of termination described in the section
+headed “Underwriting – Underwriting Arrangements – Hong Kong Public Offering – Hong
+Kong Underwriting Agreement – Grounds for Termination ” in the Prospectus has not been
+exercised.
+• The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+
+
+--- page 7 ---
+9
+PUBLIC FLOAT
+• Immediately following the completion of the Global Offering, 198,193,680 Shares,
+representing approximately 50.81% of the total issued share capital of the Company will be
+held by the public. Accordingly, the number of Shares in public hands represents no less
+than 25% of the total issued share capital of the Company as required under Rule 8.08(1)
+(a) of the Listing Rules. The Directors confirm that (i) the three largest public Shareholders
+do not hold more than 50% of the Shares held in public hands at the time of the Listing
+in compliance with Rule 8.08(3) of the Listing Rules and (ii) there will be at least 300
+Shareholders at the time of the Listing in compliance with Rule 8.08(2) of the Listing
+Rules. In addition, the portion of Shares in public hands (excluding the Offer Shares to
+be allocated to the Cornerstone Investors and the Offer Shares to be subscribed by Mr.
+Lin) will have a market capitalization of at least HK$375 million at the time of Listing as
+required under Rule 18A.07 of the Listing Rules.
+COMMENCEMENT OF DEALINGS
+• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
+a.m. on Thursday, June 29, 2023 (Hong Kong time), dealings in the Shares on the Main
+Board of the Stock Exchange are expected to commence at 9:00 a.m. on Thursday, June 29,
+2023 (Hong Kong time). The Shares will be traded in board lots of 500 Shares each. The
+stock code of the Shares is 2105.
+• In view of the 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.
+OFFER PRICE
+The Offer Price is HK$12.41 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
+0.00565%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+At the Offer Price of HK$12.41 per Offer Share, the net proceeds from the Global Offering to be
+received by the Company, after deduction of the underwriting fees and commissions and other
+estimated expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$708.2 million.
+
+
+--- page 8 ---
+10
+The Company intends to apply such net proceeds as follows:
+(i) approximately 33.0% of the net proceeds, or approximately HK$233.7 million, is expected to
+be used for rapidly advancing the clinical development and approval of one of the Company ’s
+Core Products, LAE001;
+(ii) approximately 23.3% of the net proceeds, or approximately HK$165.0 million, is expected to
+be used for advancing the clinical development and approval of the other Core Product of the
+Company, LAE002;
+(iii) approximately 20.8%, or HK$147.4 million, is expected to be used for accelerating the
+research and development of other existing pipeline products and continuously advancing and
+improving the Company ’s pipeline products;
+(iv) approximately 9.9%, or HK$70.1 million, is expected to be used for improving the
+Company ’s production capabilities and developing the Company ’s manufacturing capacities;
+(v) approximately 7.6%, or HK$53.8 million, is expected to be used for business development
+activities and enhancing the Company ’s global reach; and
+(vi) approximately 5.4%, or HK$38.2 million, is expected to be used for the Company ’s working
+capital and other general corporate purposes.
+To the extent that the net proceeds from the Global Offering are not immediately used for the
+purposes described above and to the extent permitted by the relevant laws and regulations,
+they will be placed in short-term demand deposits with licensed banks or authorized financial
+institutions (as defined under the SFO for Hong Kong based deposits or the applicable laws in the
+relevant jurisdiction for non-Hong Kong based deposits) so long as it is deemed to be in the best
+interests of the Company. The Company will issue an appropriate announcement if there is any
+material change to the above proposed use of proceeds.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
+the Prospectus.
+
+
+--- page 9 ---
+11
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
+slightly over-subscribed. A total of 2,570 valid applications have been received pursuant to the
+Hong Kong Public Offering through the White Form eIPO service and through the CCASS EIPO
+service for a total of 37,009,000 Hong Kong Offer Shares, representing approximately 5.81 times
+of the total number of 6,373,000 Hong Kong Offer Shares initially available for subscription under
+the Hong Kong Public Offering, among which:
+• 2,556 valid applications in respect of a total of 18,449,500 Hong Kong Offer Shares were for
+the Hong Kong Public Offering with a total subscription price of HK$5 million or less at the
+Offer Price of HK$12.41 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
+0.00565%), representing approximately 5.79 times of the 3,186,500 Hong Kong Offer Shares
+initially comprised in Pool A of the Hong Kong Public Offering; and
+• 14 valid applications in respect of a total of 18,559,500 Hong Kong Offer Shares were for the
+Hong Kong Public Offering with a total subscription price of more than HK$5 million at the
+Offer Price of HK$12.41 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
+0.00565%), representing 5.82 times of the 3,186,500 Hong Kong Offer Shares initially
+comprised in Pool B of the Hong Kong Public Offering.
+No application has been rejected due to invalid application. Two multiple or suspected multiple
+applications have been identified and rejected. One application has been rejected due to dishonored
+payment. No application for more than 3,186,500 Hong Kong Offer Shares (being 50% of the Hong
+Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
+As the over-subscription in the Hong Kong Public Offering is less than 15 times, the reallocation
+procedures as described in the section headed “Structure of the Global Offering – The Hong
+Kong Public Offering – Reallocation and Clawback ” in the Prospectus have not been applied
+and no International Offer Shares have been reallocated from the International Offering to the
+Hong Kong Public Offering. The final number of Hong Kong Offer Shares under the Hong Kong
+Public Offering is 6,373,000 Offer Shares, representing approximately 10% of the total number
+of Offer Shares initially available under the Global Offering. There are a total number of 1,150
+Shareholders who were allocated Offer Shares under the Hong Kong Public Offering, among
+which, 724 Shareholders, representing approximately 62.96% of the Shareholders who were
+allocated Offer Shares under the Hong Kong Public Offering, were allocated with one board lot
+of the Offer Shares, totaling 362,000 Offer Shares, representing approximately 5.68% of the total
+Offer Shares under the Hong Kong Public Offering.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offering ”
+below.
+
+
+--- page 10 ---
+12
+INTERNATIONAL OFFERING
+The International Offer Shares initially offered under the International Offering have been slightly
+over-subscribed, representing approximately 1.09 times of the total number of Offer Shares
+initially available under the International Offering. The final number of International Offer Shares
+under the International Offering is 57,355,000 Offer Shares, representing approximately 90% of
+the total number of Offer Shares initially available under the Global Offering.
+There are a total of 117 placees under the International Offering, among which 104 placees,
+representing approximately 88.89% of the total number of placees under the International Offering,
+have been allotted one board lot of Offer Shares, totaling 52,000 Offer Shares, representing
+approximately 0.09% of the total number of Offer Shares available under the International
+Offering.
+Cornerstone Investors
+At the Offer Price of HK$12.41 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
+fee of 0.00565%) and pursuant to the Cornerstone Investment Agreements entered into with the
+Cornerstone Investors as disclosed in the section headed “Cornerstone Investors ” in the Prospectus,
+the number of Offer Shares subscribed for by the Cornerstone Investors is set out below:
+Cornerstone Investor
+Investment
+amount
+Number
+of Offer
+Shares
+Subscribed
+(rounded
+down to the
+nearest whole
+board lot of
+500 Offer
+Shares)
+Approximate
+percentage of
+total number
+of Offer
+Shares
+Approximate
+percentage of
+total Shares
+in issue
+immediately
+following the
+completion
+of the Global
+Offering (3)
+Yuyao Yangming Equity Investment
+ Fund Co., Ltd. ( “Yuyao ”) HK$471,840,610 38,021,000 59.66% 9.75%
+FIIF HK$117,957,050 9,505,000 14.91% 2.44%
+Yanchuang Chenkai HK$66,840,260 5,386,000 8.45% 1.38%
+OrbiMed US$3,000,000 (1) 1,894,500 2.98% 0.48%
+Total HK$680,121,620 (2) 54,806,500 86.00% 14.05%
+Notes:
+(1) To be converted to Hong Kong dollars based on the exchange rate under the Cornerstone Investment Agreement.
+(2) Calculated assuming the investment amount made by OrbiMed has been converted to Hong Kong dollars based
+on the exchange rate under the Cornerstone Investment Agreement.
+(3) Calculated based on the number of Shares under the Cornerstone Placing only and without taking into account
+the existing Shares held by the Cornerstone Investors (if applicable).
+
+
+--- page 11 ---
+13
+The Company has applied to the Stock Exchange for a waiver from strict compliance with the
+requirements under Rule 10.04 of the Listing Rules, and a consent under paragraph 5(2) of the
+Placing Guidelines, to allow FIIF, OrbiMed and Yanchuang Chenkai to participate as cornerstone
+investors in the Global Offering. In the case of subscription by OrbiMed, the Company has also
+applied for a waiver from strict compliance with the requirement under Rule 9.09(b) of the Listing
+Rules. The Stock Exchange has granted the Company the requested waiver and consent. Please
+refer to the section headed “Waivers and Exemptions ” in the Prospectus.
+To the best knowledge of the Company, none of the Cornerstone Investors or their respective
+controlling entity is listed on any stock exchange. Each of the Cornerstone Investors has confirmed
+that all necessary approvals have been obtained with respect to the Cornerstone Placing and that
+no specific approval from any stock exchange (if relevant) or its shareholders is required for the
+relevant cornerstone investment as each of them has general authority to invest.
+To the best knowledge of the Company, each of the Cornerstone Investors (i) (except for OrbiMed
+(an existing substantial Shareholder)) is an Independent Third Party and is not a connected
+person of the Company; (ii) (except for OrbiMed, FIIF and Yanchuang Chenkai (each an existing
+Shareholder or their close associate)) is not accustomed to taking instructions from the Company,
+its subsidiaries, the Directors, chief executive, substantial Shareholders, existing Shareholders
+or any of their respective close associates in relation to the acquisition, disposal, voting or other
+disposition of the Offer Shares; and (iii) (except for OrbiMed, FIIF and Yanchuang Chenkai
+(each an existing Shareholder or their close associate)) is not directly or indirectly financed by
+the Company, its subsidiaries, the Directors, chief executive, substantial Shareholders, existing
+Shareholders or any of their respective subsidiaries or close associates. To the best knowledge of
+the Company, each of the Cornerstone Investors is independent of the other Cornerstone Investors.
+The Cornerstone Placing will form part of the International Offering and the Cornerstone Investors
+will not subscribe for any Offer Shares under the Global Offering (other than pursuant to the
+Cornerstone Investment Agreements). The Offer Shares to be subscribed by the Cornerstone
+Investors will rank pari passu in all respect with the fully paid Shares in issue. Other than the Offer
+Shares to be subscribed by OrbiMed, the Offer Shares to be subscribed by the other Cornerstone
+Investors will be counted towards the public float of the Company under Rule 8.08 of the Listing
+Rules. The Offer Shares to be subscribed by the Cornerstone Investors will not be counted towards
+the public float of the Company for the purpose of Rule 18A.07 of the Listing Rules. Immediately
+following the completion of the Global Offering, except OrbiMed, none of the Cornerstone
+Investors will become a substantial Shareholder, and except OrbiMed and FIIF, none of the
+Cornerstone Investors will have any Board representation in the Company. Other than a guaranteed
+allocation of the relevant Offer Shares at the Offer Price, the Cornerstone Investors do not have
+any preferential rights in the Cornerstone Investment Agreements compared with other public
+Shareholders.
+As confirmed by each of the Cornerstone Investors, their subscription under the Cornerstone
+Placing would be financed by their own internal resources. There are no side agreements or
+arrangements between the Company and the Cornerstone Investors or any benefit, direct or
+indirect, conferred on the Cornerstone Investors by virtue of or in relation to the Cornerstone
+Placing, other than a guaranteed allocation of the relevant Offer Shares at the Offer Price.
+
+
+--- page 12 ---
+14
+All of the Cornerstone Investors will pay and settle in full for the relevant Offer Shares that they
+have subscribed before dealings in the Offer Shares commence on the Stock Exchange. As such,
+there will be no deferred settlement of payment of the investment amounts. Since there is no
+over-allotment option in the International Offering, there will be no delayed delivery or deferred
+settlement of Offer Shares to be subscribed by the Cornerstone Investors.
+Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at any
+time during the period of six months from and including the Listing Date (the “Lock-up Period ”),
+dispose of any of the Offer Shares they have purchased pursuant to the relevant Cornerstone
+Investment Agreements, save for certain limited circumstances, such as transfers to any of its
+wholly-owned subsidiaries, or any affiliated fund under common management or control with the
+relevant Cornerstone Investor, who will be bound by the same obligations of such Cornerstone
+Investor, including the Lock-up Period restriction.
+Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further details of
+the Cornerstone Investor.
+Placing of Offer Shares to an existing Shareholder
+In addition to the placing of Offer Shares in the International Offering to existing Shareholders
+and their close associate under the Cornerstone Investment Agreements as disclosed above, a total
+of 2,298,500 Offer Shares, representing approximately 3.61% of the total number of Offer Shares
+initially available under the Global Offering, were placed to an existing Shareholder, details of
+which are set out below:
+Placee
+Relationship
+with the Company
+Number of
+Offer Shares
+placed
+Approximate
+percentage of
+total number of
+Offer Shares
+Approximate
+percentage of
+total Shares
+in issue
+immediately
+following the
+completion
+of the Global
+Offering
+Mr. Lin Existing Shareholder 2,298,500 3.61% 0.59%
+The Company has applied to the Stock Exchange for a waiver from strict compliance with Rule
+10.04 of the Listing Rules and a consent under paragraph 5(2) of the Placing Guidelines to permit
+the Company to allocate Offer Shares in the International Offering to the existing Shareholder as
+set out above. The Stock Exchange has granted the Company the requested waiver and consent.
+
+
+--- page 13 ---
+15
+CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
+OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
+To the best knowledge, information and belief of the Directors, save as otherwise disclosed in this
+announcement, no Offer Shares placed by or through the Overall Coordinator, the Sole Global
+Coordinator, the Joint Bookrunners, the Joint Lead Managers or the Underwriters under the Global
+Offering have been placed to applicants who are core connected persons of the Company, or
+connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons set out in
+paragraph 5(2) of the Placing Guidelines, whether in their own names or through nominees. The
+International Offering is in compliance with the Placing Guidelines.
+The Directors confirm that, to the best of their knowledge, information and belief, save as
+otherwise disclosed in this announcement, (i) none of the Offer Shares subscribed by public
+Shareholders in the Hong Kong Public Offering and placees in the International Offering has
+been financed directly or indirectly by the Company, its Directors, chief executive, substantial
+Shareholders, existing Shareholders or any of their subsidiaries or their respective close associates;
+(ii) no rebate has been, directly or indirectly, provided by the Company, its Directors, chief
+executive, substantial Shareholders, existing Shareholders or any of their subsidiaries or their
+respective close associates or syndicate members or any other brokers to any public Shareholders
+in the Hong Kong Public Offering or placees in the International Offering; (iii) none of the
+public Shareholders in the Hong Kong Public Offering and placees in the International Offering
+who has subscribed for the Offer Shares is accustomed to taking instructions from the Company,
+its Directors, chief executive, substantial Shareholders, existing Shareholders or any of their
+subsidiaries or their respective close associates in relation to the acquisition, disposal, voting
+or other disposition of the Shares registered in his/her/its name or otherwise held by him/her/it;
+(iv) the consideration payable by the public Shareholders in the Hong Kong Public Offering and
+placees in the International Offering for each Offer Share subscribed for or purchased by them is
+the same as the Offer Price, in addition to brokerage of 1.0%, SFC transaction levy of 0.0027%,
+AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%; and (v) there is
+no side agreement or arrangement between the Company, its Directors, chief executive, substantial
+Shareholders, existing Shareholders or any of their subsidiaries or their respective close associates
+or syndicate members or any other brokers, on one hand, and the public Shareholders or the
+placees who have subscribed for the Offer Shares, on the other hand.
+
+
+--- page 14 ---
+16
+The Directors confirm that, to the best of their knowledge, information and belief, none of the
+placees under the International Offering will be placed more than 10% of the enlarged issued
+share capital of the Company immediately following the completion of the Global Offering.
+Accordingly, the Directors confirm that none of the placees will become a substantial Shareholder
+of the Company immediately following the completion of the International Offering, and there will
+not be any new substantial Shareholder of the Company immediately following the completion of
+the Global Offering.
+LOCK-UP UNDERTAKINGS
+Each of the Company, the Cornerstone Investors and all existing Shareholders has given certain
+lock-up undertakings in relation to the issue and disposal of Shares (the “Lock-up Undertakings ”).
+The major terms of the Lock-up Undertakings are set out as follows:
+Name
+Number
+of Shares
+subject to
+the Lock-up
+Undertakings
+upon Listing
+Approximate
+percentage of
+shareholding in
+the Company
+subject to the
+Lock-up
+Undertakings
+upon Listing
+Last day
+subject to
+the Lock-up
+Undertakings
+The Company
+(subject to lock-up obligations pursuant to the Listing Rules and the Hong Kong Underwriting Agreement)
+N/A N/A December 29, 2023 (1)
+Cornerstone Investors
+(subject to lock-up obligations pursuant to the Cornerstone Investment Agreements)
+Yuyao 38,021,000 9.75% December 29, 2023 (3)
+FIIF 9,505,000 (2) 2.44%(2) December 29, 2023 (3)
+Yanchuang Chenkai 5,386,000 (2) 1.38%(2) December 29, 2023 (3)
+OrbiMed 1,894,500 (2) 0.48%(2) December 29, 2023 (3)
+All existing Shareholders (4)
+(subject to lock-up obligations pursuant to separate lock-up undertakings)
+326,372,350 83.66% December 29, 2023 (5)
+Notes:
+(1) The Company may not allot or issue Shares prior to the indicated date except otherwise permitted by the Listing
+Rules and the Stock Exchange.
+
+
+--- page 15 ---
+17
+(2) Calculated based on the number of Offer Shares subscribed under the Cornerstone Placing only and without
+taking into account the existing Shares held by the Cornerstone Investors.
+(3) The Cornerstone Investors may dispose of any of the Offer Shares subscribed pursuant to the Cornerstone
+Investment Agreements after the indicated date.
+(4) For identities and details of the existing Shareholders, see the section headed “History, Development and
+Corporate Structure ” in the Prospectus.
+(5) Pursuant to separate lock-up undertakings, all existing Shareholders may dispose of Shares without any lock-up
+obligation after the indicated date.
+(6) Percentage figures in the table above are subject to rounding adjustments.
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the section headed “Structure of the Global
+Offering – Conditions of the Global Offering ” in the Prospectus, 2,570 valid applications made
+by the public through the White Form eIPO service and the CCASS EIPO service will be
+conditionally allocated on the basis set out below:
+Pool A
+Number of
+Offer Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of
+the total
+number of
+Offer Shares
+applied for
+500 1,636 365 out of 1,636 to receive 500 Shares 22.31%
+1,000 199 88 out of 199 to receive 500 Shares 22.11%
+1,500 84 55 out of 84 to receive 500 Shares 21.83%
+2,000 67 58 out of 67 to receive 500 Shares 21.64%
+2,500 48 500 Shares plus 3 out of 48 to receive additional 500 Shares 21.25%
+3,000 32 500 Shares plus 8 out of 32 to receive additional 500 Shares 20.83%
+3,500 149 500 Shares plus 68 out of 149 to receive additional 500 Shares 20.81%
+4,000 20 500 Shares plus 13 out of 20 to receive additional 500 Shares 20.63%
+4,500 6 500 Shares plus 5 out of 6 to receive additional 500 Shares 20.37%
+5,000 47 1,000 Shares plus 1 out of 47 to receive additional 500 Shares 20.21%
+6,000 8 1,000 Shares plus 3 out of 8 to receive additional 500 Shares 19.79%
+7,000 43 1,000 Shares plus 33 out of 43 to receive additional 500 Shares 19.77%
+8,000 18 1,500 Shares plus 2 out of 18 to receive additional 500 Shares 19.44%
+9,000 5 1,500 Shares plus 2 out of 5 to receive additional 500 Shares 18.89%
+10,000 35 1,500 Shares plus 21 out of 35 to receive additional 500 Shares 18.00%
+15,000 52 2,500 Shares plus 16 out of 52 to receive additional 500 Shares 17.69%
+20,000 22 3,500 Shares plus 1 out of 22 to receive additional 500 Shares 17.61%
+25,000 6 4,000 Shares plus 4 out of 6 to receive additional 500 Shares 17.33%
+30,000 6 5,000 Shares plus 2 out of 6 to receive additional 500 Shares 17.22%
+35,000 2 6,000 Shares 17.14%
+40,000 3 6,500 Shares plus 2 out of 3 to receive additional 500 Shares 17.08%
+45,000 3 7,500 Shares plus 1 out of 3 to receive additional 500 Shares 17.04%
+
+
+--- page 16 ---
+18
+Number of
+Offer Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of
+the total
+number of
+Offer Shares
+applied for
+50,000 6 8,500 Shares 17.00%
+60,000 4 10,000 Shares plus 1 out of 4 to receive additional 500 Shares 16.88%
+70,000 1 11,500 Shares 16.43%
+80,000 9 13,000 Shares plus 2 out of 9 to receive additional 500 Shares 16.39%
+100,000 14 16,000 Shares plus 11 out of 14 to receive additional 500 Shares 16.39%
+200,000 5 32,500 Shares plus 2 out of 5 to receive additional 500 Shares 16.35%
+300,000 8 49,000 Shares plus 1 out of 8 to receive additional 500 Shares 16.35%
+400,000 18 65,000 Shares plus 14 out of 18 to receive additional 500 Shares 16.35%
+Total 2,556 Total number of Pool A successful applicants: 1,136
+Pool B
+Number of
+Offer Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of
+the total
+number of
+Offer Shares
+applied for
+500,000 5 86,500 Shares 17.30%
+700,000 2 120,500 Shares 17.21%
+800,000 2 137,500 Shares 17.19%
+1,000,000 1 171,500 Shares 17.15%
+2,500,000 1 428,500 Shares 17.14%
+3,186,500 3 546,000 Shares 17.13%
+Total 14 Total number of Pool B successful applicants: 14
+The final number of Offer Shares under the Hong Kong Public Offering is 6,373,000 Offer Shares,
+representing approximately 10% of the total number of Offer Shares initially available under the
+Global Offering.
+RESULTS OF ALLOCATIONS
+Results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering,
+including the Offer Price, the level of indications of interest in the International Offering, the
+level of applications in the Hong Kong Public Offering and the basis of allocation of the Hong
+Kong Offer Shares will be published on Wednesday, June 28, 2023 on the websites of the Stock
+Exchange at www.hkexnews.hk and the Company at www.laekna.com .
+
+
+--- page 17 ---
+19
+The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the White Form eIPO service or through the CCASS EIPO
+service, including the Hong Kong identity card numbers, passport numbers, Hong Kong business
+registration numbers or certificate of incorporation numbers of successful applicants (where
+applicable) and the number of Hong Kong Offer Shares successfully applied for, will be made
+available at the times and dates and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.laekna.com and the
+Stock Exchange ’s website at www.hkexnews.hk by no later than 8:00 a.m. on Wednesday,
+June 28, 2023. Please note that the list of identification document numbers set out in this
+announcement may not be a complete list of successful applicants since only successful
+applicants whose identification document numbers are provided to HKSCC by CCASS
+Participants or via the White Form eIPO service are disclosed. Applicants with beneficial
+names only but not identification document numbers are not disclosed due to personal
+privacy issue as elaborated below. Applicants who applied for the Hong Kong Offer Shares
+through their brokers or nominees can consult their brokers or nominees to enquire about
+their application results;
+• from the designated results of allocations website at www.iporesults.com.hk (alternatively: English
+https://www.eipo.com.hk/en/Allotment ; Chinese https://www.eipo.com.hk/zh-hk/Allotment )
+with a “search by ID” function on a 24-hour basis from 8:00 a.m. on Wednesday, June 28, 2023 to
+12:00 midnight on Tuesday, July 4, 2023; and
+• from the allocation results telephone enquiry by calling +852 2862 8555 between 9:00 a.m.
+and 6:00 p.m. from Wednesday, June 28, 2023 to Monday, July 3, 2023 (excluding Saturday,
+Sunday and public holiday in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ” in this
+announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong business
+registration numbers/certificate of incorporation numbers/beneficial owner identification codes (if
+such applications are made by nominees as agent for the benefit of another person), whereas those
+displayed in the section headed “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS Participants
+via CCASS. Therefore, the identification document numbers shown in the two sections are
+different in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by White
+Form eIPO ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 18 ---
+20
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the Global Offering is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee
+Number
+of Offer
+Shares
+subscribed
+for
+Number of
+Shares held
+upon Listing
+Subscription
+as approximate
+ percentage
+of the
+International
+Offering
+Subscription
+as approximate
+percentage
+of total
+Offer Shares
+Number of
+Shares held
+upon Listing as
+approximate
+percentage of
+the total issued
+share capital
+Top 1 38,021,000 38,021,000 66.29% 59.66% 9.75%
+Top 5 57,105,000 152,213,310 99.56% 89.61% 39.02%
+Top 10 57,265,000 152,373,310 99.84% 89.86% 39.06%
+Top 20 57,306,500 152,414,810 99.92% 89.92% 39.07%
+Top 25 57,309,000 152,417,310 99.92% 89.93% 39.07%
+• Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Shareholder
+Number of
+Hong Kong
+Offer Shares
+subscribed for
+Number of
+International
+Offer Shares
+subscribed for
+Number of
+Offer Shares
+subscribed for
+Number of
+Shares held
+upon Listing
+Subscription
+as approximate
+percentage of
+Hong Kong
+Public Offering
+Subscription as
+approximate
+percentage of
+International
+Offering
+Subscription
+as approximate
+percentage
+of total
+Offer Shares
+Number of
+Shares held
+upon Listing as
+approximate
+percentage of
+the total issued
+share capital
+Top 1 – 1,894,500 1,894,500 59,774,230 – 3.30% 2.97% 15.32%
+Top 5 – 39,915,500 39,915,500 222,427,670 – 69.59% 62.63% 57.02%
+Top 10 – 54,806,500 54,806,500 332,077,670 – 95.56% 86.00% 85.13%
+Top 20 1,092,000 57,105,000 58,197,000 384,173,220 17.13% 99.56% 91.32% 98.48%
+Top 25 2,375,500 57,105,000 59,480,500 385,852,850 37.27% 99.56% 93.33% 98.91%
+In view of the 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.
diff --git a/data/extracted_text/02228/allotment_results_2024-06-12_2024061201745.txt b/data/extracted_text/02228/allotment_results_2024-06-12_2024061201745.txt
new file mode 100644
index 0000000..d7caa63
--- /dev/null
+++ b/data/extracted_text/02228/allotment_results_2024-06-12_2024061201745.txt
@@ -0,0 +1,1172 @@
+--- page 1 ---
+1
+Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “Hong Kong 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.
+Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as
+those defined in the prospectus dated Tuesday, June 4, 2024 (the “Prospectus ”) issued by QuantumPharm Inc. (the
+“Company ”).
+This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase
+or subscribe for any securities. This announcement is not a prospectus. Potential investors should read the Prospectus
+for detailed information about the Global Offering described below before deciding whether or not to invest in the
+Shares thereby being offered. Any investment decision in relation to the Offer Shares should be taken solely in reliance
+on the information in the Prospectus.
+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 jurisdictions. The securities mentioned herein 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. The securities may not be offered, sold, pledged
+or otherwise transferred within the United States except pursuant to an exemption from the registration requirements
+of the U.S. Securities Act and in compliance with any applicable state securities laws. There will be no public offer
+of securities in the United States. The securities are sold solely (1) to qualified institutional buyers as defined in Rule
+144A under the U.S. Securities Act pursuant to an exemption from registration under the U.S. Securities Act and (2)
+outside the United States in compliance with Regulation S under the U.S. Securities Act.
+In connection with the Global Offering, CLSA Limited, as stabilizing manager (the “Stabilizing Manager ”) (or its
+affiliates or any person acting for it), on behalf of the Underwriters, may over-allocate or effect transactions with
+a view to stabilizing or supporting the market price of the Shares at a level higher than that which might otherwise
+prevail in an open market for a limited period after the Listing Date. However, there is no obligation on the Stabilizing
+Manager, its affiliates or any person acting for it, to conduct any such stabilizing action, which, if commenced, will be
+conducted at the sole and absolute discretion of the Stabilizing Manager, its affiliates or any person acting for it, and
+may be discontinued at any time. Any such stabilizing activity is required to be brought to an end on the 30th day after
+the last date for lodging applications under the Hong Kong Public Offering. Such stabilization action, if commenced,
+may be effected in all jurisdictions where it is permissible to do so, in each case in compliance with all applicable
+laws, rules and regulatory requirements, including the Securities and Futures (Price Stabilizing) Rules (Chapter 571W
+of the Laws of Hong Kong), as amended, made under the Securities and Futures Ordinance (Chapter. 571 of the Laws
+of Hong Kong).
+Potential investors should be aware that stabilizing actions cannot be taken to support the price of the Shares for
+longer than the stabilization period which will begin on the Listing Date and is expected to expire on the 30th day after
+the last day for lodging applications under the Hong Kong Public Offering (which is Sunday, July 7, 2024). After this
+date, no further stabilizing action may be taken, and demand for the Shares and therefore the price of the Shares could
+fall.
+Potential investors of the Offer Shares should note that the Sole Sponsor and Overall Coordinators (for themselves and
+on behalf of the Hong Kong Underwriters) shall be entitled to terminate the Hong Kong Underwriting Agreement with
+immediate effect upon the occurrence of any of the events set out in the section headed “Underwriting { Hong Kong
+Underwriting Arrangements { 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 Thursday, June 13,
+2024).
+In connection with the Global Offering, we expect to grant the Over-allotment Option to the International Underwriters,
+exercisable by the Overall Coordinators at their sole and absolute discretion on behalf of the International Underwriters
+at any time from the Listing Date until Sunday, July 7, 2024, being the 30th day after the last day for lodging
+applications under the Hong Kong Public Offering. Pursuant to the Over-allotment Option, the Overall Coordinators
+will have the right to require our Company to allot and issue, at the Offer Price, up to an aggregate of additional
+28,105,000 Shares, representing in aggregate approximately 15% of the number of the Offer Shares initially available
+under the Global Offering to cover over-allocations in the International Offering, if any.
+
+
+--- page 2 ---
+2
+QuantumPharm Inc.
+(Incorporated in the Cayman Islands with limited liability)
+GLOBAL OFFERING
+Number of Offer Shares under
+the Global Offering
+: 187,373,000 Shares (subject to the Over-
+allotment Option)
+Number of Hong Kong Offer Shares : 37,475,000 Shares (as adjusted after
+reallocation)
+Number of International Offer Shares : 149,898,000 Shares (as adjusted after
+reallocation and subject to the Over-
+Allotment Option)
+Final Offer Price : HK$5.28 per Offer Share, plus brokerage
+of 1.0%, SFC transaction levy of
+0.0027%, Hong Kong Stock Exchange
+trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%
+Nominal value : US$0.00001 per Share
+Stock code : 2228
+Sole Sponsor, Overall Coordinator, Joint Global Coordinator
+Joint Bookrunner and Joint Lead Manager
+Overall Coordinators, Joint Global Coordinators, Joint Bookrunners
+and Joint Lead Managers
+Sole Financial Advisor
+Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers
+Joint Bookrunners and Joint Lead Managers
+Joint Lead Managers
+
+
+--- page 3 ---
+QUANTUMPHARM INC.
+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 June 4, 2024 (the “Prospectus”) issued by QuantumPharm Inc. (the
+“Company”).
+
+
+
+SUMMARY
+Company information
+Stock code 2228
+Stock short name QUANTUMPH-P
+Dealings commencement date June 13, 2024*
+*see note at the end of the announcement
+
+Price Information
+Final Offer Price HK$5.28
+Offer Price Range HK$5.03 - HK$6.03
+Offer Price Adjustment exercised No
+
+Offer Shares and Share Capital
+Number of Offer Shares 187,373,000
+Number of Offer Shares in Hong Kong Public Offering (after
+reallocation and assuming the Over-allotment Option is not
+exercised)
+37,475,000
+Number of offer shares in International Offer (after
+reallocation and assuming the Over-allotment Option is not
+exercised)
+149,898,000
+Number of issued shares upon Listing (Assuming the Over-
+allotment Option is not exercised)
+3,406,772,761
+
+The number of offer shares above is determined after taking into account the additional shares issued under
+the following Offer Size Adjustment Option
+
+Over-allocation
+No. of Offer Shares over-allocated 28,105,000
+Such over-allocation will be settled by using Shares to be borrowed under the Stock Borrowing Agreement
+between the Stabilizing Manager and QuantumPharm Holdings. Such borrowed Shares may be covered
+by exercising the Over-allotment Option in full or in part or by making purchases in the secondary
+market at prices that do not exceed the Offer Price or a combination of these means. In the event the
+Over-allotment Option is exercised, an announcement will be made on the Stock Exchange’s website.
+
+Proceeds
+Gross proceeds (Note) HK$ 989.33 million
+Offer Size Adjustment Option (Upsize option)
+Number of additional shares issued under the option -
+- Public Offer -
+- International Offer -
+
+
+--- page 4 ---
+Less: Estimated listing expenses payable based on Final Offer
+Price
+HK$ (93.2) million
+Net proceeds HK$ 896.13 million
+
+
+
+
+
+ALLOTMENT RESULTS DETAILS
+HONG KONG PUBLIC OFFERING
+
+
+No. of valid applications 19,602
+No. of successful applications 10,448
+Subscription level 103.35 times
+Claw-back triggered Yes
+No. of Offer Shares initially available under the Hong Kong Public
+Offering
+9,369,000
+No. of Offer Shares reallocated from the International Offering
+(claw- back)
+28,106,000
+Final no. of Offer Shares under the Hong Kong Public Offering
+(after reallocation)
+37,475,000
+% 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.hkeipo.hk/IPOResult to perform a search by name or identification number or www.hkeipo.hk/IPOResult
+for the full list of allottees.
+INTERNATIONAL OFFERING
+
+
+No. of placees 154
+Subscription Level 2.13 times
+No. of Offer Shares initially available under the International
+Offering
+178,004,000
+No. of Offer Shares reallocated to the Hong Kong Public Offering
+(claw-back)
+28,106,000
+Final no. of Offer Shares under the International Offering (after
+reallocation)
+149,898,000
+% of Offer Shares under the International Offering to the Global
+Offering (after reallocation)
+80%
+
+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 close associates of certain existing shareholders, (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, substantial shareholders, existing
+shareholders of the Company or any of its subsidiaries or their respective cl ose 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, substantial shareholders, existing
+Note: Gross proceeds refers to the amount to which the issuer is entitled to receive, assuming the Over-
+allotment Option is not exercised. For details of the use of proceeds, please refer to the Prospectus dated
+June 4, 2024.
+
+
+--- page 5 ---
+shareholders of the Company 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.
+
+The placees in the International Offering include the following:
+Cornerstone Investors
+
+
+
+
+
+
+
+Investor
+
+
+
+
+No. of Offer
+Shares
+allocated
+
+
+
+% of
+Offer
+Shares
+(assuming
+the Over-
+allotment
+Option is
+not
+exercised)
+% of total
+issued
+share
+capital
+after the
+Global
+Offering
+(assuming
+the Over-
+allotment
+Option is
+not
+exercised)
+
+
+Existing
+shareholders or
+their
+close
+associates
+Successful Lotus Limited 7,575,000 4.04% 0.22% No
+IntelliMed One Investment Limited
+Note 1
+5,163,000 2.76% 0.15% No
+Mammoth Medical Solutions 11,700,000 6.24% 0.34% No
+Begonia No. 1 LPF
+(海棠壹號有限合夥基金)
+17,573,000 9.38% 0.52% No
+Prof. Bradley Lether Pentelute 1,464,000 0.78% 0.04% No
+Ginkgo Capital Global Fund SPC—
+Ginkgo Capital Global Fund I SP
+Note 2
+14,644,000 7.82% 0.43% No
+Biocytogen Pharmaceuticals
+(Beijing) Co., Ltd.
+(百奧賽圖(北京)醫藥科技股份有
+限公司)
+2,017,000 1.08% 0.06% No
+FaaS Capital Longevity Limited 3,787,000 2.02% 0.11% No
+Total 63,923,000 34.12% 1.88%
+Notes:
+
+(1) In addition to the Offer Shares subscribed for as a cornerstone investor of the Company, IntelliMed One Investment
+Limited (“IntelliMed”), together with its close associate, TruMed Healthcare Master Fund (“TruMed”) were
+allocated further Offer Shares as pl acees. Under the International Offering, IntelliMed and TruMed were allocated
+20,413,000 Offer Shares in aggregate. Please refer to the section headed “International Offering - Allotees with
+waivers/consents obtained” for further details. Only the Offer Shares it subscribed for as a cornerstone investor are
+
+
+--- page 6 ---
+subject to lock -up as indicated below. For details, please refer to the section headed “Lock -up Undertakings –
+Cornerstone Investors” below.
+(2) A close associate of Ginkgo Capital Global Fund SPC—Ginkgo Capital Global Fund I SP (“Ginkgo Fund I”), Ginkgo
+Capital Global Fund SPC—Ginkgo Capital Global Fund II SP (“Ginkgo Fund II”), was allocated Offer Shares as a
+placee. Under the International Offering, Ginkgo Fund I and Ginkgo Fund II were allocated 23,244,000 Offer Shares
+in aggregate. Please refer to the section headed “International Offering - Allotees with waivers/consents obtained”
+for further details.
+
+
+Allotees with waivers/consents obtained
+
+
+
+
+
+
+
+
+Investor
+
+
+
+
+No. of
+Offer
+Shares
+allocated
+% of Offer
+Shares
+(assuming the
+Over-
+allotment
+Option is not
+exercised)
+% of total
+issued share
+capital after the
+Global Offering
+(assuming the
+Over-allotment
+Option is not
+exercised)
+
+
+
+
+Relationship
+Liu Chong / 劉翀 1,800,000 0.96% 0.05% Liu Chong is a close
+associate of an existing
+shareholder of the
+Company. Note 1
+
+Hermitage Global
+Limited
+1,500,000 0.80% 0.04% Hermitage Global
+Limited is a close
+associate of an existing
+shareholder of the
+Company. Note 2
+
+Mirae Asset
+Securities (HK)
+Limited (and its close
+associate)
+1,680,000 0.90% 0.05% Mirae Asset Securities
+(HK) Limited is a close
+associate of an existing
+shareholder of the
+Company. Note 3
+
+IntelliMed One
+Investment Limited
+13,800,000 7.36% 0.41% IntelliMed is a
+cornerstone investor of
+the Company. Note 4
+TruMed Healthcare
+Master Fund
+1,450,000 0.77% 0.04% TruMed Healthcare
+Master Fund is a close
+associate of IntelliMed,
+a cornerstone investor
+of the Company. Note 4
+Ginkgo Capital
+Global Fund SPC—
+Ginkgo Capital
+Global Fund II SP
+8,600,000 4.59% 0.25% Ginkgo Capital Global
+Fund SPC—Ginkgo
+Capital Global Fund II
+SP is a close associate
+of Ginkgo Capital
+Global Fund SPC—
+Ginkgo Capital Global
+Fund I SP, a
+cornerstone investor of
+
+
+--- page 7 ---
+the Company. Note 5
+Total 28,830,000 15.39% 0.85%
+Notes:
+
+(1) Liu Chong is a close associate of Yael Capital Partners I L.P., an existing shareholder of the Company which
+will hold approximately 3.44% of the total issued Shares of the Company immediately following the Global
+Offering (assuming the Over-allotment Option is not exercised). The Company has applied to the Stock Exchange
+for, and the Stock Exchange has granted, a waiver from strict compliance with Rule 10.04 of the Listing Rules
+and its consent under paragraph 5(2) of the Placing Guideli nes to permit the Company to allocate such Offer
+Shares in the International Offering to Liu Chong. The allocation of Offer Shares to Liu Chong is in compliance
+with all the conditions under the waiver and consent granted by the Stock Exchange. For details , please refer to
+the section headed “Others / Additional Information” below.
+(2) Hermitage Global Limited is a close associate of Hermitage Galaxy Fund SPC for and on behalf of Hermitage
+Fund Two SP, an existing Shareholder of the Company which will hold appr oximately 1.30% of the total issued
+Shares of the Company immediately following the Global Offering (assuming the Over -allotment Option is not
+exercised). The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a waiver
+from strict compliance with Rule 10.04 of the Listing Rules and its consent under paragraph 5(2) of the Placing
+Guidelines to permit the Company to allocate such Offer Shares in the International Offering to Hermitage Global
+Limited. The allocation of Offer Sha res to Hermitage Global Limited is in compliance with all the conditions
+under the waiver and consent granted by the Stock Exchange. For details, please refer to the section headed
+“Others / Additional Information” below.
+(3) Mirae Asset Securities (HK) Limited (and its close associate) are close associates of Mirae Asset New Economy
+Fund L.P., an existing shareholder of the Company which will hold approximately 0.78% of the total issued
+Shares of the Company immediately following the Global Offering (assuming the Over-allotment Option is not
+exercised). Each of Mirae Asset Securities (HK) Limited and its close associate have been allocated 1,400,000
+and 280,000 Offer Shares as a placee, respectively. The Company has applied to the Stock Exchange for, and the
+Stock Exchange has granted, a waiver from strict compliance with Rule 10.04 of the Listing Rules and its consent
+under paragraph 5(2) of the Placing Guidelines to permit the Company to allocate such Offer Shares in the
+International Offering to Mirae Asset Securities (HK) Limited and its close associate. The allocation of Offer
+Shares to Mirae Asset Securities (HK) Limited (and its close associate) is in compliance with all the conditions
+under the waiver and consent granted by the Stock Exchange. For detai ls, please refer to the section headed
+“Others / Additional Information” below.
+(4) IntelliMed is a cornerstone investor of the Company which will hold approximately 0.15% of the total issued
+Shares of the Company immediately following the Global Offering (assuming the Over -allotment Option is not
+exercised). IntelliMed, together with TruMed, which is a close associate of IntelliMed , were allocated further
+Offer Shares as placees . The Company has applied to the Stock Exchange for, and the Stock Exchange has
+granted, a consent under Chapter 4.15 of the HKEX Guide to permit the Company to allocate such Offer Shares
+in the International Offering to IntelliMed and TruMed. The allocation of Offer Shares to IntelliMed and TruMed
+is in compliance with all the conditions under the consent granted by the Stock Exchange. For details, please
+refer to the section headed “Others / Additional Information” below.
+(5) Ginkgo Capital Global Fund SPC—Ginkgo Capital Global Fund II SP (“Ginkgo Fund II”) is a close associate
+of Ginkgo Capital Global Fund SPC—Ginkgo Capital Global Fund I SP, a cornerstone investor of the Company
+which will hold approximately 0.43% of the total issued Shares of the Company immediately following the Global
+Offering (assuming the Over-allotment Option is not exercised). Ginkgo Fund II was allocated Offer Shares as a
+placee. The Company has applied to the Stock Exchange for, and the S tock Exchange has granted, a consent
+under Chapter 4.15 of the HKEX Guide to permit the Company to allocate such Offer Shares in the International
+Offering to Ginkgo Fund II . The allocation of Offer Shares to Ginkgo Fund II is in complian ce with all the
+conditions under the consent granted by the Stock Exchange. For details, please refer to the section headed
+“Others / Additional Information” below.
+
+
+LOCK-UP UNDERTAKINGS
+Key Persons (as defined under Rule 18C.14 of the Listing Rules)
+
+
+--- page 8 ---
+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 (assuming
+the Over-allotment
+Option is not exercised)
+
+
+
+
+Last day subject to the
+lock-up undertakings
+Wen Shuhao / 溫書豪 Note
+1
+
+222,126,400 Note 2 6.52% June 12, 2026 Note 10
+81,093,362 Note 3 2.38% June 12, 2026 Note 10
+22,000,000 Note 4 0.65% June 12, 2026 Note 10
+Ma Jian / 馬健 Note 1
+
+122,908,500 Note 5 3.61% June 12, 2026 Note 10
+45,230,342 Note 6 1.33% June 12, 2026 Note 10
+59,103,125 Note 7 1.73% June 12, 2026 Note 10
+Lai Lipeng / 賴力鵬 Note 1 87,814,140 Note 8 2.58% June 12, 2026 Note 10
+32,315,661 Note 9 0.95% June 12, 2026 Note 10
+Subtotal 672,591,530 19.74%
+Notes:
+
+1. Each of Dr. Wen Shuhao (“Dr. Wen”), Dr. Ma Jian (“Dr. Ma”) and Dr. Lai Lipeng (“Dr. Lai”) is a Co-
+founder and an executive Director of the Company.
+2. Representing the Shares held by QuantumPharm Holdings Limited. QuantumPharm Holdings Limited is
+held as to 99% by WSH Family Holdings Limited, which is the holding vehicle of TMF (Cayman) Ltd. TMF
+(Cayman) Ltd. is the trustee of the WSH Family Trust, a discretionary trust established by Dr. Wen as
+settlor.
+3. Representing the Shares held by QuantumPharm Roc Holdings Limited (“ QuantumPharm Roc ”)
+underlying outstanding options held by Dr. Wen. Such Shares will be transferred by QuantumPharm Roc
+to Dr. Wen upon the exercise of the options and continue to be subject to the disposal restr ictions. For
+further details, please refer to the sections headed “History, Development and Corporate Structure” and
+“Underwriting” in the Prospectus.
+4. Representing the Shares held by QuantumPharm Roc underlying outstanding options held by Dr. Jiang
+Yide A lan (and his close associates) and Mr. Tam Man Hong. Such Shares will be transferred by
+QuantumPharm Roc to them upon the exercise of the options and continue to be subject to the disposal
+restrictions. Pursuant to the powers of attorney granted by Mr. Tam Man Hong and Dr. Jiang Yide Alan
+in favor of Dr. Wen on May 28, 2024, respectively, Dr. Wen is unconditionally, indefinitely and irrevocably
+authorized and appointed to exercise all the voting rights attached to: (i) the Shares underlying the vested
+outstanding options owned by them; and (ii) the Shares transferred or issued to them upon the exercise of
+the vested outstanding options, except for any matter the outcome of the vote on which will
+disproportionately, materially and adversely affect the grantor s, as compared to Dr. Wen or any other
+Shareholder. The powers of attorney shall be valid from the Listing Date for an indefinite term. Each of
+Mr. Tam Man Hong and Dr. Jiang Yide Alan, being the key persons of the Company, have provided
+undertakings to each of the Stock Exchange and the Company regarding the disposal of securities pursuant
+to Rule 18C.14(1) of the Listing Rules. For further details, please refer to the sections headed “History,
+Development and Corporate Structure” and “Underwriting” in the Prospectus.
+5. Representing the Shares held by Crete Helix Ltd.. Crete Helix Ltd. is held as to 99% by MH International
+Holdings Limited, which is the holding vehicle of TMF (Cayman) Ltd. TMF (Cayman) Ltd. is the trustee
+of the MH Fund Trust, a discretionary trust established by Dr. Ma as settlor.
+6. Representing the Shares held by QuantumPharm Roc underlying outstanding options held by Dr. Ma. Such
+
+
+--- page 9 ---
+Shares will be transferred by QuantumPharm Roc to Dr. Ma upon the exercise of the options and continue
+to be subject to the disposal restrictions. For further details, please refer to the sections headed “History,
+Development and Corporate Structure” and “Underwriting” in the Prospectus.
+7. Representing the Sha res held by QuantumPharm Roc underlying options held by QuantumPharm
+Employee Holdings, a holding vehicle wholly owned by TMF Trust (HK) Limited as trustee of the
+QuantumPharm Employee Benefit Trust, a discretionary trust established for the purposes of ma naging
+and administering the outstanding options granted to Dr. Zhang Peiyu, a member of our senior
+management, and 12 other employees of our Group. Such options have been irrevocably settled into the
+QuantumPharm Employee Benefit Trust under the terms of its trust deed dated June 28, 2021. Under the
+terms of the trust deed, Dr. Ma, being the sole member of the advisory committee established by our
+Company, has the sole power to make all decisions relating to the exercise of any voting and other rights
+of the properties (including the exercise of the options) held under the trust and to give instructions and
+directions to the trustee for the execution of such decisions without the need to seek for consent from the
+beneficiaries, and the beneficiaries have no right to sell, bequeath or transfer any trust property. Dr. Zhang
+Peiyu, being a key person of the Company, has provided an undertaking to the Stock Exchange and the
+Company regarding the disposal of securities pursuant to Rule 18C.14(1) of the Listing Rules. For further
+details, please refer to the sections headed “History, Development and Corporate Structure” and
+“Underwriting” in the Prospectus.
+8. Representing the Shares held by SeveningBAlpha Limited. SeveningBAlpha is held as to 99% by LPHappy
+Holding Limited, which is the holding vehicle of TMF (Cayman) Ltd. TMF (Cayman) Ltd. is the trustee of
+the LPHappy Family Trust, a discretionary trust established by Dr. Lai as settlor.
+9. Representing the Shares held by QuantumPharm Roc underlying outstanding options held by Dr. Lai. Such
+Shares will be transferred by QuantumPharm Roc to Dr. Lai upon the exercise of the options and continue
+to be subject to the disposal restrictions. For further details, please refer to the sections headed “History,
+Development and Corporate Structure” and “Underwriting” in the Prospectus.
+10. The expiry date of the lock-up period shown is pursuant to Rule 18C.14(1) of the Listing Rules. In the event
+that upon the notification by the Stock Exchange that our Company will no longer be regarded as a Pre -
+Commercial Company after the Listing, the lock-up period will expire on the later of: (i) the date which is
+12 months from the Listing Date; and (2) the date falling on the 30th day after the announcement on the
+removal of designation as a Pre-Commercial Company as required under Rule 18C.24 of the Listing Rules.
+
+Undertaking Providers
+
+
+
+
+
+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 (assuming
+the Over-allotment
+Option is not exercised)
+
+
+
+Last day subject to the
+lock-up undertakings
+Image Frame Investment
+(HK) Limited / 意像架構
+投資(香港)有限公司
+439,866,580 12.91% June 12, 2025 Note 2
+HSG Venture VI
+Holdco, Ltd.
+203,444,338 5.97% June 12, 2025 Note 2
+HSG Growth VI
+Holdco E, Ltd.
+49,076,214 1.44% June 12, 2025 Note 2
+HCHP Holdco, Ltd. Note 1 16,358,738 0.48% June 12, 2025 Note 2
+HSG Venture VIII
+Holdco, Ltd.
+13,303,439 0.39% June 12, 2025 Note 2
+Evolution Fund I, L.P. 137,008,547 4.02% June 12, 2025 Note 2
+Evolution Special 85,349,937 2.51% June 12, 2025 Note 2
+
+
+--- page 10 ---
+Opportunity Fund I, L.P.
+Evolution Fund I Co-
+investment, L.P.
+33,353,771 0.98% June 12, 2025 Note 2
+China Life Chengda
+(Shanghai) Healthcare
+Equity Investment
+Center (Limited
+Partnership) / 國壽成達(
+上海)健康產業股權投資
+中心(有限合夥)
+235,552,877 6.91% June 12, 2025 Note 2
+Beijing PICC Health and
+Pension Industry
+Investment Fund (Limited
+Partnership) / 北京人保
+健康養老產業投資基金
+(有限合夥)
+119,730,945 3.51% June 12, 2025 Note 2
+Subtotal 1,333,045,386 39.13%
+Notes:
+
+1. Save for HCHP Holdco, Ltd., which is a close associate of a pathfinder SII, the other Undertaking Providers
+are pathfinder SIIs of the Company as defined under Chapter 2.5 of the HKEX Guide.
+2. The expiry date of the lock-up period shown is pursuant to Rule 18C.14(2) of the Listing Rules. In the event that
+upon the notification by the Stock Exchange that our Company will no longer be regarded as a Pre-Commercial
+Company after the Listing, the lock -up period will expire on the later of: (i) the date which is six months from
+the Listing Date; and (2) the date falling on the 30th day after the announcement on the removal of designation
+as a Pre-Commercial Company as required under Rule 18C.24 of the Listing Rules.
+
+
+Cornerstone Investors
+
+
+
+
+
+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 (assuming
+the Over-allotment
+Option is not exercised)
+
+
+
+Last day subject to the
+lock-up undertakings
+Successful Lotus Limited 7,575,000 0.22% December 12, 2024 Note 2
+IntelliMed One Investment
+Limited Note 1
+5,163,000 0.15% December 12, 2024 Note 2
+Mammoth Medical
+Solutions
+11,700,000 0.34% December 12, 2024 Note 2
+Begonia No. 1 LPF / 海棠
+壹號有限合夥基金
+17,573,000 0.52% December 12, 2024 Note 2
+Prof. Bradley Lether
+Pentelute
+1,464,000 0.04% December 12, 2024 Note 2
+
+
+--- page 11 ---
+Ginkgo Capital Global
+Fund SPC—Ginkgo
+Capital Global Fund I SP
+Note 1
+14,644,000 0.43% December 12, 2024 Note 2
+Biocytogen
+Pharmaceuticals (Beijing)
+Co., Ltd. / 百奧賽圖(北
+京)醫藥科技股份有限公
+司
+2,017,000 0.06% December 12, 2024 Note 2
+FaaS Capital Longevity
+Limited
+3,787,000 0.11% December 12, 2024 Note 2
+Subtotal 63,923,000 1.88%
+ Notes:
+
+1. (i) IntelliMed and its close associate and (ii) a close associate of Ginkgo Capital Global Fund SPC —Ginkgo
+Capital Global Fund I SP were allocated Offer Shares pursuant to Chapter 2.5 of the HKEX Guide . For details,
+please refer to the section s headed “ International Offering – Cornerstone Investors ” above and “Others /
+Additional Information” below. Only the Shares subscribed by IntelliMed and Ginkgo Capital Global Fund SPC—
+Ginkgo Capital Global Fund I SP as cornerstone investors are subject to lock-up undertakings as indicated above.
+2. The Cornerstone Investor s shall not dispose of any of the Offer Shares subscribed pursuant to the Cornerstone
+Investment Agreements on or before the indicated date.
+
+Pre-IPO Investors
+
+
+
+
+
+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 (assuming
+the Over-allotment
+Option is not exercised)
+
+
+
+Last day subject to the
+lock-up undertakings
+All Pre-IPO Investors
+(except for Pathfinder SIIs
+and HCHP Holdco, Ltd.) /
+所有首次公開發售前投
+資者(領航資深獨立投資
+者及HCHP Holdco, Ltd.
+除外) Note 1
+1,155,464,192 33.92% December 12, 2024 Note 2
+Notes:
+
+1. Please refer to the section headed “History, Development and Corporate Structure—Pre-IPO Investments” in the
+Prospectus for the identities of the Pre-IPO Investors other than the Pathfinder SIIs and HCHP Holdco, Ltd..
+2. The expiry date of the lock -up period shown is pursuant to the disclosure in the Prospectus . Please refer to the
+section headed “ Underwriting – Undertakings by the Other Pre -IPO Investors” in the Prospectus for further
+details.
+
+
+--- page 12 ---
+PLACEE CONCENTRATION ANALYSIS
+
+Placees
+Number of
+Shares allotted
+Allotment as % of
+International
+Offering
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Allotment as % of
+International
+Offering (assuming
+the Over-allotment
+Option is exercised
+and new Shares are
+issued)
+Allotment as %
+of total Offer
+Shares (assuming
+no exercise of the
+Over-allotment
+Option)
+Allotment as % of
+total Offer Shares
+(assuming the Over-
+allotment Option is
+exercised and new
+Shares are issued)
+Number of
+Shares held
+upon Listing
+% of total issued
+share capital upon
+Listing (assuming
+no exercise of the
+Over-allotment
+Option)
+% of total issued
+share capital upon
+Listing (assuming
+the Overallotment
+Option is exercised
+and new Shares are
+issued)
+Top 1 54,284,000 36.21% 30.50% 28.97% 25.19% 54,284,000 1.59% 1.58%
+Top 5 127,214,000 84.87% 71.47% 67.89% 59.04% 127,214,000 3.73% 3.70%
+Top 10 154,696,000 103.20% 86.91% 82.56% 71.79% 154,696,000 4.54% 4.50%
+Top 25 174,494,000 116.41% 98.03% 93.13% 80.98% 364,953,944 10.71% 10.62%
+
+Note
+* Ranking of placees is based on the number of Shares allotted to the placees.
+
+
+--- page 13 ---
+SHAREHOLDER CONCENTRATION ANALYSIS
+
+Sharehold
+ers
+Number
+of Shares
+allotted
+Allotment as
+% of
+International
+Offering
+(assuming no
+exercise of
+the Over-
+allotment
+Option)
+Allotment as
+% of
+International
+Offering
+(assuming the
+Over-
+allotment
+Option is
+exercised and
+new Shares
+are issued)
+Allotment
+as % of
+total Offer
+Shares
+(assuming
+no
+exercise of
+the Over-
+allotment
+Option)
+Allotment
+as % of
+total Offer
+Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised
+and new
+Shares are
+issued)
+Number
+of Shares
+held upon
+Listing
+% of total
+issued share
+capital upon
+Listing
+(assuming no
+exercise of
+the Over-
+allotment
+Option)
+% of total
+issued
+share
+capital
+upon
+Listing
+(assuming
+the Over-
+allotment
+Option is
+exercised
+and new
+Shares are
+issued)
+Top 1 0 0.00% 0.00% 0.00% 0.00% 587,668,1
+43
+17.25% 17.11%
+Top 5 0 0.00% 0.00% 0.00% 0.00% 1,784,623
+,846
+52.38% 51.96%
+Top 10 1,800,000 1.20% 1.01% 0.96% 0.84% 2,359,827
+,481
+69.27% 68.70%
+Top 25 59,264,00
+0
+39.54% 33.29% 31.63% 27.50% 3,075,287
+,240
+90.27% 89.53%
+Note
+* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.
+
+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:
+
+BASIS OF ALLOTMENT FOR PRESS ANNOUNCEMENT
+NO. OF
+SHARES
+APPLIED
+FOR
+NO. OF
+V ALID
+APPLIC
+ATIONS BASIS OF ALLOTMENT / BALLOT
+APPROXIMATE
+PERCENTAGE
+ALLOTTED OF
+THE TOTAL NO.
+OF SHARES
+APPLIED FOR
+ POOL A
+1,000 8,285 1,657 out of 8,285 applicants to receive 1,000 shares 20.00%
+2,000 1,434 502 out of 1,434 applicants to receive 1,000 shares 17.50%
+3,000 734 331 out of 734 applicants to receive 1,000 shares 15.03%
+4,000 374 195 out of 374 applicants to receive 1,000 shares 13.03%
+5,000 591 326 out of 591 applicants to receive 1,000 shares 11.03%
+6,000 186 112 out of 186 applicants to receive 1,000 shares 10.04%
+
+
+--- page 14 ---
+7,000 130 87 out of 130 applicants to receive 1,000 shares 9.56%
+8,000 1,631 1,149 out of 1,631 applicants to receive 1,000 shares 8.81%
+9,000 80 62 out of 80 applicants to receive 1,000 shares 8.61%
+10,000 765 635 out of 765 applicants to receive 1,000 shares 8.30%
+15,000 964 1,000 shares 6.67%
+20,000 486 1,000 shares plus 109 out of 486 applicants to receive
+an additional 1,000 shares 6.12%
+25,000 209 1,000 shares plus 84 out of 209 applicants to receive an
+additional 1,000 shares 5.61%
+30,000 387 1,000 shares plus 219 out of 387 applicants to receive
+an additional 1,000 shares 5.22%
+35,000 135 1,000 shares plus 97 out of 135 applicants to receive an
+additional 1,000 shares 4.91%
+40,000 233 1,000 shares plus 201 out of 233 applicants to receive
+an additional 1,000 shares 4.66%
+45,000 104 2,000 shares 4.44%
+50,000 529 2,000 shares plus 69 out of 529 applicants to receive an
+additional 1,000 shares 4.26%
+60,000 188 2,000 shares plus 72 out of 188 applicants to receive an
+additional 1,000 shares 3.97%
+70,000 111 2,000 shares plus 68 out of 111 applicants to receive an
+additional 1,000 shares 3.73%
+80,000 160 2,000 shares plus 133 out of 160 applicants to receive
+an additional 1,000 shares 3.54%
+90,000 70 3,000 shares 3.33%
+100,000 648 3,000 shares plus 195 out of 648 applicants to receive
+an additional 1,000 shares 3.30%
+200,000 391 5,000 shares 2.50%
+300,000 147 6,000 shares 2.00%
+400,000 115 7,000 shares 1.75%
+500,000 82 8,000 shares 1.60%
+600,000 34 9,000 shares 1.50%
+700,000 21 10,000 shares 1.43%
+800,000 79 11,000 shares 1.38%
+
+ 19,303 Total number of Pool A successful applicants:
+10,149
+
+ POOL B
+
+900,000
+
+187
+39,000 shares plus 122 out of 187 applicants to receive
+an additional 1,000 shares 4.41%
+
+
+--- page 15 ---
+1,000,000
+
+46
+43,000 shares plus 37 out of 46 applicants to receive an
+additional 1,000 shares 4.38%
+
+1,500,000
+
+16
+65,000 shares plus 8 out of 16 applicants to receive an
+additional 1,000 shares 4.37%
+
+2,000,000
+
+9 87,000 shares 4.35%
+
+2,500,000
+
+4
+108,000 shares plus 2 out of 4 applicants to receive an
+additional 1,000 shares 4.34%
+
+3,000,000
+
+2 130,000 shares 4.33%
+
+3,500,000
+
+1 151,000 shares 4.31%
+
+4,000,000
+
+7 172,000 shares 4.30%
+
+4,684,000
+
+27 201,000 shares 4.29%
+
+299
+Total number of Pool B successful applicants:
+299
+
+
+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.
+The Directors and the Overall Coordinators confirm that at least 50% of the total number of the Offer
+Shares (excluding any shares to be issued pursuant to the exercise of any over-allotment option) have
+been allocated to and taken up by independent price setting investors (whether as Cornerstone
+Investors or placees) in compliance with Rule 18C.08 of the Listing Rules.
+The Directors further confirm that at least 20% of the issued share capital of the Company (before
+exercise of any over-allotment option) will be held by sophisticated independent investors at the time
+of Listing in compliance with Chapter 2.5 of the HKEX Guide.
+OTHERS / ADDITIONAL INFORMATION
+Reallocation
+As the Hong Kong Public Offering has been over-subscribed by more than 50 times of the total number
+of Offer Shares initially available under the Hong Kong Public Offering, the reallocation procedure as
+
+
+--- page 16 ---
+disclosed in the section headed “Structure of the Global Offering – The Hong Kong Public Offering –
+Reallocation and Clawback” in the Prospectus has been applied.
+The number of Offer Shares initially available under the Hong Kong Public Offering is 9,369,000
+Shares, representing approximately 5% of the total number of Offer Shares initially available under
+the Global Offering (ass uming the Over -allotment Option is not exercised). As a result of such
+reallocation, the final number of Offer Shares under the Hong Kong Public Offering is adjusted to
+37,475,000 Shares, representing 20% of the total number of Offer Shares available under the Global
+Offering (assuming the Over-allotment Option is not exercised).
+Close Associates of Existing Shareholders as Placees (with a Waiver from Strict Compliance with
+Rule 10.04 of the Listing Rules and a Prior Written Consent under Paragraph 5(2) of the Placing
+Guidelines)
+ Yael Capital Partners I L.P. is an existing shareholder of the Company. The general partner of Yael
+Capital Partners I L.P. is Yael Capital Management Limited, which is ultimately controlled by Liu
+Chong. Therefore, Liu Chong is a close associate of Yael Capital Partners I L.P.. As of the date of the
+Prospectus, Yael Capital Partners I L.P. held 117,023,787 Shares, representing approximately 3.64%
+of the total issued Shares. Under the International Offering, Liu Chong has been placed with 1,800,000
+Offer Shares at the Offer Price, representing approximately 0.96% of the total number of Offer Shares
+initially available under the Global Offering (a ssuming the Over-Allotment Option is not exercised)
+and approximately 0.05% of the total issued Shares of the Company upon completion of the Global
+Offering (assuming the Over-allotment Option is not exercised).
+Hermitage Galaxy Fund SPC for and on behalf of Hermitage Fund Two SP is an existing shareholder
+of the Company. It is ultimately controlled by Mr. Yuqiu Xiang, who also ultimately controls
+Hermitage Global Limited. Therefore, Hermitage Global Limited is a close associate of Hermitage
+Galaxy Fund SPC for and on behalf of Hermitage Fund Two SP. As of the date of the Prospectus,
+Hermitage Galaxy Fund SPC for and on behalf of Hermitage Fund Two SP held 44,168,592 Shares,
+representing approximately 1.37% of the total issued Shares. Under the International Offering,
+Hermitage Global Limited has been placed with 1,500,000 Offer Shares at the Offer Price, representing
+approximately 0.80% of the total number of Offer Shares initially available under the Global Offering
+(assuming the Over-Allotment Option is no t exercised) and approximately 0.04% of the total issued
+Shares of the Company upon completion of the Global Offering (assuming the Over-allotment Option
+is not exercised).
+Mirae Asset New Economy Fund L.P. is an existing shareholder of the Company. Mirae Asset
+Securities (HK) Limited holds 30% or more limited partnership interests in Mirae Asset New Economy
+Fund L.P.. Therefore, Mirae Asset Securities (HK) Limited is a close associate of Mirae Asset New
+Economy Fund L.P.. As of the date of the Prospectus, Mirae Asset New Economy Fund L.P. held
+26,606,877 Shares, representing approximately 0.83% of the total issued Shares. Under the
+International Offering, Mirae Asset Securities (HK) Limited and their close associate have been placed
+with 1,680,000 Offer Shares in aggregate at the Offer Price, representing approximately 0.90% of the
+total number of Offer Shares initially available under the Global Offering (assuming the Over -
+Allotment Option is not exercised) and approximately 0.05% of the total issued Shares of the Company
+upon completion of the Global Offering (assuming the Over-allotment Option is not exercised).
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a waiver
+from strict compliance with Rule 10.04 o f the Listing Rules and its consent under paragraph 5(2) of
+the Placing Guidelines to permit the Company to allocate such Offer Shares in the International
+
+
+--- page 17 ---
+Offering to each of Liu Chong, Hermitage Global Limited and Mirae Asset Securities (HK) Limited
+(and their close associate). The allocation of Offer Shares to each of Liu Chong, Hermitage Global
+Limited and Mirae Asset Securities (HK) Limited (and its close associate) is in compliance with all
+the conditions under the waiver and consent granted by the Stock Exchange.
+Allocation of Offer Shares to Cornerstone Investor and/or its close associates (with a Prior
+Written Consent under Chapter 4.15 of the HKEX Guide)
+IntelliMed is a cornerstone investor of the Company which will hold approximately 0.15% of the total
+issued Shares of the Company immediately following the Global Offering (assuming the Over -
+allotment Option is not exercised). Under the International Offering, IntelliMed, together with
+TruMed, which is a close associate of IntelliMed sharing the same investment manager, were allocated
+further Offer Shares as placees. IntelliMed and TruMed have been placed with 13,800,000 and
+1,450,000 Offer Shares at the Offer Price, representing approximately 7.36% and 0.77% of the total
+number of Offer Shares initially available under the Global Offering (assuming the Over -Allotment
+Option is not exercised) and approximately 0.41% and 0.04% of the total issued Shares of the Company
+upon completion of the Global Offering (assuming the Over-allotment Option is not exercised).
+Ginkgo Capital Global Fund SPC —Ginkgo Capital Global Fund I SP (“Ginkgo Fund I ”) is a
+cornerstone investor of the Company. Ginkgo Fund II , which has the same investment manager as
+Ginkgo Fund I, is a close associate of Ginkgo Fund I. Under the International Offering, Ginkgo Fund
+II was allocated Offer Shares as a placee. It has been placed with 8,600,000 Offer Shares at the Offer
+Price, representing approximately 4.59% of the total number of Offer Shares initially available under
+the Global Offering (assuming the Over-Allotment Option is not exercised) and approximately 0.25%
+of the total issued Shares of the Company upon completion of the Global Offering (assuming the Over-
+allotment Option is not exercised).
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a consent
+under Chapter 4.15 of the HKEX Guide to permit the Company to allocate such Offer Shares in the
+International Offering to each of IntelliMed (as a placee), TruMed and Ginkgo Fund II. The allocation
+of Offer Shares to IntelliMed (as a placee), TruMed and Ginkgo Fund II is in compliance with all the
+conditions under the consent granted by the Stock Exchange.
+
+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 United States Securities Act of 1933,
+as amended (the “U.S. Securities Act”). The securities may not be offered or sold in the United
+States except pursuant to an exemption from the registration requirements of the U.S. Securities
+Act and in compliance with any applicable state securities laws, or outside the United States
+
+
+--- page 18 ---
+unless in compliance with Regulation S under the U.S. Securities Act. There will be no public
+offer of securities in the United States.
+The Offer Shares are being offered and sold (1) solely to qualified institutional buyers as defined
+in Rule 144A under the U.S. Securities Act pursuant to an exemption from registration under the
+U.S. Securities Act and (2) outside the United States in off shore transactions in reliance on
+Regulation S under the U.S. Securities Act.
+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 June 4, 2024 issued by QuantumPharm Inc. for detailed
+information about the Global Offering described below before deciding whether or not to invest
+in the Shares thereby being offered.
+*Potential investors of the Offer Shares should note that the Sole Sponsor and Overall
+Coordinators (for themselves and on behalf of the Hong Kong Underwriters) shall be entitled to
+terminate the Hong Kong Underwriting Agreement with immediate effect upon the occurrence
+of any of the events set out in the section headed “Underwriting – Hong Kong Underwriting
+Arrangements – 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 Thursday, June 13, 2024).
+
+
+--- page 19 ---
+3
+PUBLIC FLOAT AND FREE FLOAT
+Immediately following the completion of the Global Offering, (i) approximately 65.63% of the
+total issued share capital of the Company (assuming the Over-Allotment Option is not exercised)
+will be held by the public and will satisfy the minimum percentage as prescribed under Rule
+8.08(1)(a) of the Listing Rules; (ii) the three largest public Shareholders do not hold more than
+50% of the Shares in public hands at the time of Listing in compliance with Rules 8.08(3) and
+8.24 of the Listing Rules; (iii) there will not be any new substantial Shareholder (as defined in
+the Listing Rules) of the Company; and (iv) there will be at least 300 Shareholders at the time of
+Listing in compliance with Rule 8.08(2) of the Listing Rules.
+The Directors confirm that Shares with a market capitalization of approximately HK$651,816,000
+will not be subject to any disposal restrictions (whether under contract, the Listing Rules,
+applicable laws or otherwise) at the time of Listing and will satisfy the minimum requirement as
+prescribed under Rule 18C.10 of the Listing Rules.
+COMMENCEMENT OF DEALINGS
+Share certificates will only become valid at 8:00 a.m. on Thursday, June 13, 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 Shares prior to the receipt of Share certificates or the Share certificates becoming valid
+do so entirely at their own risk.
+Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. on Thursday, June
+13, 2024 (Hong Kong time), it is expected that dealings in our Shares on the Stock Exchange will
+commence at 9:00 a.m. on Thursday, June 13, 2024 (Hong Kong time). The Shares will be traded
+in board lots of 1,000 Shares each. The stock code of the Shares will be 2228.
+By order of the Board
+QuantumPharm Inc.
+Dr. Wen Shuhao
+Chairman of the Board and Executive Director
+Hong Kong, June 12, 2024
+As at the date of this announcement, the board of directors of the Company comprises Dr. Wen
+Shuhao, Dr. Ma Jian, Dr. Lai Lipeng and Dr. Jiang Yide Alan as executive Directors, Dr. Gu
+Cuiping as a non-executive Director, and Mr. Law Cheuk Kin Stephen, Ms. Chan Wing Ki and
+Mr. Chow Ming Sang as independent non-executive Directors.
diff --git a/data/extracted_text/02268/allotment_results_summary_2023-11-16_2023111600010.txt b/data/extracted_text/02268/allotment_results_summary_2023-11-16_2023111600010.txt
new file mode 100644
index 0000000..b5520af
--- /dev/null
+++ b/data/extracted_text/02268/allotment_results_summary_2023-11-16_2023111600010.txt
@@ -0,0 +1,1247 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+OFFER PRICE
+• The final Offer Price has been determined at HK$20.60 per Offer Share (exclusive of
+brokerage of 1%, SFC transaction levy of 0.0027%, the Stock Exchange trading fee of
+0.00565% and AFRC transaction levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+• Based on the Offer Price of HK$20.60 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deducting the estimated underwriting
+commissions and other fees and expenses payable by the Company in connection with the
+Global Offering, are estimated to be approximately HK$3,483.3 million. The Company
+intends to apply such net proceeds from the Global Offering for the purposes and in the
+amounts as set out in the section headed “Net Proceeds from the Global Offering ” in this
+announcement.
+• If the Over-allotment Option is exercised in full, the Company will receive additional
+net proceeds of approximately HK$380.8 million for 19,158,500 additional Shares to be
+issued and allotted upon the exercise of the Over-allotment Option after deducting the
+estimated underwriting commissions and other fees and expenses payable by the Company
+in connection with the Global Offering. The allocation of the additional net proceeds will
+be adjusted on a pro rata basis according to the use of proceeds as set out in the section
+headed “Net Proceeds from the Global Offering ” in this announcement in the event that the
+Over-allotment Option is exercised.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been very significantly over-subscribed. At the close of the application lists at 12:00 noon
+on Friday, November 10, 2023, a total of 30,726 valid applications have been received
+under the Hong Kong Public Offering through the White Form eIPO service and the
+CCASS EIPO service for a total of 891,591,500 Hong Kong Offer Shares, representing
+approximately 49.96 times of the total number of 17,845,000 Offer Shares initially
+available for subscription under the Hong Kong Public Offering.
+• As the over-subscription in the Hong Kong Public Offering represents 15 times or more
+but less than 50 times of the number of Hong Kong Offer Shares initially available under
+the Hong Kong Public Offering, the reallocation procedure as described in the section
+headed “Structure of the Global Offering – The Hong Kong Public Offering – Reallocation
+and Clawback ” in the Prospectus has been applied and 35,689,000 Offer Shares have been
+reallocated from the International Offering to the Hong Kong Public Offering. The final
+number of Offer Shares under the Hong Kong Public Offering is 53,534,000 Offer Shares,
+representing approximately 30% of the total number of Offer Shares initially available
+under the Global Offering (before any exercise of the Over-allotment Option). The total
+number of successful applicants under the Hong Kong Public Offering is 14,832, among
+which 8,362 applicants were allocated with one board lot of the Offer Shares.
+
+
+--- page 2 ---
+4
+Preferential Offering
+• A total of four valid applications for Assured Entitlement and 15 valid applications for the excess
+Reserved Shares (including 4 Qualifying WXB Shareholders who applied for excess Reserved
+Shares in addition to their respective Assured Entitlement) pursuant to the Preferential Offering
+from Qualifying WXB Shareholders on BLUE Application Forms for a total of 95,640,715
+Reserved Shares have been received, representing approximately 10.72 times the total number of
+8,922,000 Reserved Shares initially available under the Preferential Offering. 8,922,000 Reserved
+Shares were allocated to a total of 15 Qualifying WXB Shareholders, representing 5% of the total
+number of Offer Shares initially available under the Global Offering (before any exercise of the
+Over-allotment Option).
+Allocation of Reserved Shares to Certain Directors and/or their Close Associates
+• To the best knowledge of the Company and after all reasonable enquiries, among the
+Reserved Shares allocated to the Qualifying WXB Shareholders, approximately 78,815
+and 6 Reserved Shares, representing approximately 0.0067% and 0.0000% of the total
+issued share capital of the Company immediately upon completion of the Global Offering
+(assuming the Over-allotment Option is not exercised and without taking into account
+any exercise of the share options granted under the Pre-IPO Share Option Schemes),
+are expected to be allocated to our Directors Dr. Zhisheng Chen and Ms. Ming Shi (the
+“Relevant Directors ”) and/or their close associates based on their respective applications
+made by BLUE Application Forms, respectively, each of whom is a core connected person
+of the Company.
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted,
+a waiver from strict compliance with Rule 10.03 and Rule 9.09(b) of the Listing Rules
+and a consent under Paragraph 5(2) of Appendix 6 to the Listing Rules (the “Placing
+Guidelines ”) to permit the Company to allocate the Reserved Shares to the Relevant
+Directors and/or their close associates in the Preferential Offering. Please refer to the
+section headed “Waivers and Exemption from Strict Compliance with the Listing Rules and
+the Companies (Winding Up and Miscellaneous Provisions) Ordinance ” in the Prospectus
+and the section headed “Basis of Allocation under the Preferential Offering – Allocation of
+Reserved Shares to Certain Directors and/or their Close Associates ” in this announcement.
+International Offering
+• The Offer Shares initially offered under the International Offering have been significantly
+over-subscribed. A total of 3,147,738,952 International Offer Shares have been subscribed
+(including the subscription by the Cornerstone Investors), representing approximately 19.60
+times of the total number of 160,601,000 International Offer Shares initially available for
+subscription under the International Offering (including 8,922,000 Reserved Shares under the
+Preferential Offering). After reallocation of the Offer Shares to the Hong Kong Public Offering
+from the International Offering, the final number of Offer Shares under the International
+Offering is 124,912,000 Shares (including 8,922,000 Reserved Shares under the Preferential
+Offering), representing approximately 70% of the total number of Offer Shares initially
+available under the Global Offering (before any exercise of the Over-allotment Option).
+• There has been an over-allocation of 19,158,500 Offer Shares in the International Offering
+and there is a total of 170 placees under the International Offering. 67 placees have been
+allotted five or fewer board lots of Offer Shares, representing approximately 39.4% of
+the total number of placees under the International Offering. These placees have been
+allotted 68,500 Offer Shares in total, representing approximately 0.043% of the Offer
+Shares initially available under the International Offering and 0.038% of the Offer Shares
+available under the Global Offering (both assuming the Over-allotment Option is not
+exercised), respectively.
+
+
+--- page 3 ---
+5
+Cornerstone Investors
+• Based on the Offer Price of HK$20.60 per Offer Share (exclusive of brokerage of 1%,
+SFC transaction levy of 0.0027%, the Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%) and pursuant to the Cornerstone Investment Agreements as
+disclosed in the section headed “Cornerstone Investors ” in the Prospectus, the Cornerstone
+Investors will be allocated to a total of 113,910,000 Offer Shares, representing in aggregate
+approximately (i) 63.83% of the Shares offered pursuant to the Global Offering and (ii)
+9.67% of the total issued share capital of the Company immediately upon completion of
+the Global Offering (without taking into account any Shares which may be issued upon
+exercise of the share options granted under the Pre-IPO Share Option Schemes) (both
+assuming the Over-allotment Option is not exercised), respectively. Please refer to the
+section headed “International Offering – Cornerstone Investors ” in this announcement and
+the section headed “Cornerstone Investors – The Cornerstone Investors ” in the Prospectus
+for further details of the Cornerstone Investors.
+Placing of Offer Shares to Connected Clients with Consent under the Placing Guidelines
+• Under the International Offering, (i) 25,000 Offer Shares, representing approximately
+0.0140% of the total number of Offer Shares initially available under the Global Offering
+and 0.0021% of the total issued share capital of the Company immediately upon completion
+of the Global Offering (without taking into account any Shares which may be issued upon
+exercise of the share options granted under the Pre-IPO Share Option Schemes) (both
+assuming the Over-allotment Option is not exercised), were placed to Goldman Sachs Asset
+Management (Singapore) Pte. Ltd. ( “GSAMS”) as a placee who is a connected client of
+Goldman Sachs (Asia) L.L.C. ( “GS”), one of the Overall Coordinators, within the meaning
+of the Placing Guidelines; (ii) 760,000 Offer Shares, representing approximately 0.4259%
+of the total number of Offer Shares initially available under the Global Offering and
+0.0645% of the total issued share capital of the Company immediately upon completion
+of the Global Offering (without taking into account any Shares which may be issued upon
+exercise of the share options granted under the Pre-IPO Share Option Schemes) (both
+assuming the Over-allotment Option is not exercised), were placed to China Southern Asset
+Management Co., Ltd. (ʮ̡ ) ( “China Southern ”) as a placee who is a
+connected client of Huatai Financial Holdings (Hong Kong) Limited ( “HTFH”), one of the
+Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers, within the meaning
+of the Placing Guidelines; and (iii) 40,000 Offer Shares, representing approximately
+0.0224% of the total number of Offer Shares initially available under the Global Offering
+and 0.0034% of the total issued share capital of the Company immediately upon completion
+of the Global Offering (without taking into account any Shares which may be issued upon
+exercise of the share options granted under the Pre-IPO Share Option Schemes) (both
+assuming the Over-allotment Option is not exercised), were placed to Huatai Capital
+Investment Limited ( “HTCI”) as a placee who is a connected client of HTFH within the
+meaning of the Placing Guidelines. Other than HTCI, which holds the Offer Shares on a
+non-discretionary basis on behalf of independent third parties for the purpose of hedging
+the over-the-counter swaps transactions, GSAMS and China Southern hold the Offer Shares
+on a discretionary basis on behalf of independent third parties.
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted
+to the Company, its consent under paragraph 5(1) of the Placing Guidelines to permit the
+Company to allocate Shares in the International Offering to GSAMS, China Southern and
+HTCI. Offer Shares placed to the above connected clients are held by the connected clients
+on behalf of independent third parties and are in compliance with all the conditions under
+the consent granted by the Stock Exchange. Please refer to the section headed “International
+Offering – Placing of Offer Shares to Connected Clients with Consent under the Placing
+Guidelines ” in this announcement for further details.
+
+
+--- page 4 ---
+6
+• Save as disclosed above, to the best knowledge, information and belief of the Directors,
+(i) no Offer Shares placed by or through the Overall Coordinators, the Joint Global
+Coordinators, the Joint Bookrunners, the Joint Lead Managers or the Underwriters under
+the Global Offering have been placed with applicants and their respective ultimate
+beneficial owners who are core connected persons (as defined in the Listing Rules) of
+the Company, the Directors, or to any connected clients (as set out in paragraph 5(1) of
+the Placing Guidelines) or persons set out in paragraph 5(2) of the Placing Guidelines,
+whether in their own names or through nominees; (ii) none of the Joint Sponsors, the
+Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead
+Managers, the Underwriters and their respective affiliate companies, and the connected
+clients of the lead broker or of any distributors (as defined in the Placing Guidelines)
+has taken up any Offer Share for its own benefits under the Global Offering; and (iii) all
+placees under the International Offering and their ultimate beneficial owners are not and
+are independent of any of the (a) the core connected person (as defined in the Listing
+Rules) of the Company, (b) the Directors or existing Shareholders of the Company or any
+of the Company ’s subsidiaries, or (c) the close associates (as defined in the Listing Rules)
+of (a) and/or (b) above, whether in their own names or through nominees. The International
+Offering is in compliance with the Placing Guidelines.
+• Save as disclosed in the sections headed “Basis of Allocation under the Preferential
+Offering – Allocation of Reserved Shares to Certain Directors and/or their Close
+Associates ” and “International Offering – Placing of Offer Shares to Connected Clients
+with Consent under the Placing Guidelines ” of this announcement, the Directors, to the
+best of their knowledge, information and belief, confirm that, (i) none of the Offer Shares
+subscribed by public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering (including the Preferential Offering) has been financed directly
+or indirectly by the Company, any of the Directors, chief executive, senior management,
+the Controlling Shareholders, substantial Shareholders or existing Shareholders of the
+Company or any of its subsidiaries or their respective close associates; (ii) no rebate has
+been, directly or indirectly, provided by the Company, the Directors, chief executive, senior
+management, the Controlling Shareholders, substantial Shareholders, existing Shareholders,
+or any of their subsidiaries or their respective close associates, or syndicate members,
+or any other brokers involved in the Global Offering, to any public Shareholders in the
+Hong Kong Public Offering, Qualifying WXB Shareholders in the Preferential Offering
+or placees in the International Offering; (iii) none of the public Shareholders in the Hong
+Kong Public Offering and placees in the International Offering (including the Preferential
+Offering) who has subscribed for the Offer Shares is accustomed to taking instructions from
+the Company, any of the Directors, chief executive, senior management, the Controlling
+Shareholders, substantial Shareholders or existing Shareholders of the Company or any of
+its subsidiaries or their respective close associates in relation to the acquisition, disposal,
+voting or other disposition of the Offer Shares registered in his/her/its name or otherwise
+held by him/her/it; (iv) there is no side agreement or arrangement between the Company,
+any of the Directors, chief executive, senior management, the Controlling Shareholders,
+substantial Shareholders, existing Shareholders of the Company or any of its subsidiaries or
+their respective close associates, on one hand, and the public subscribers or the placee who
+has subscribed for the Offer Shares, on the other hand; and (v) the consideration payable
+by the public investors in the Hong Kong Public Offering, Qualifying WXB Shareholders
+in the Preferential Offering and placees in the International Offering for each Offer Share
+subscribed for, or purchased by them, is the same as the Final Offer Price as determined by
+the Company, plus brokerage of 1%, SFC transaction levy of 0.0027%, the Stock Exchange
+trading fee of 0.00565% and AFRC transaction levy of 0.00015%.
+
+
+--- page 5 ---
+7
+Over-allotment Option
+• In connection with the Global Offering, the Company has granted the Over-allotment
+Option to the International Underwriters exercisable by the Overall Coordinators (for
+themselves and on behalf of the International Underwriters). Pursuant to the Over-allotment
+Option, the International Underwriters have the right, exercisable by the Overall
+Coordinators (for themselves and on behalf of the International Underwriters) at any time
+from the Listing Date until Sunday December 10, 2023, being the 30th day after the last
+day for lodging applications under the Hong Kong Public Offering, to require the Company
+to issue and allot up to an aggregate of 19,158,500 additional Offer Shares, representing
+approximately 10.74% of the number of Offer Shares initially available under the Global
+Offering, at the Offer Price, to cover the over-allocations in the International Offering.
+• There has been an over-allocation of 19,158,500 Offer Shares in the International
+Offering and such over-allocation will be settled using Shares to be borrowed under the
+Stock Borrowing Agreement entered into between WuXi Biologics and the Stabilizing
+Manager. Such borrowed Shares will be covered by exercising the Over-allotment Option
+in full or in part, or by making purchases in the secondary market by the Stabilization
+Manager (or through its affiliates or any person acting for it) at prices that do not exceed
+the Offer Price or by a combination of these means. In the event the Over-allotment
+Option is exercised, an announcement will be made on the Stock Exchange ’s website at
+www.hkexnews.hk and the Company ’s website at www.wuxixdc.com . As at the date of
+this announcement, the Over-allotment Option has not been exercised.
+LOCK-UP OBLIGATIONS
+• The Company, the Controlling Shareholders and the Cornerstone Investors are subject to
+certain lock-up obligations as set out in the section headed “Lock-up Obligations ” in this
+announcement.
+RESULTS OF ALLOCATIONS
+• The final offer price, the level of applications in the Hong Kong Public Offering, the level
+of indication of interest in the International Offering and the Preferential Offering and
+the basis of allocation of the Hong Kong Offer Shares and Reserved Shares are published
+on the Stock Exchange ’s website at www.hkexnews.hk and the Company ’s website at
+www.wuxixdc.com on Thursday, November 16, 2023.
+• The results of allocations and the Hong Kong identity card/passport/Hong Kong business
+registration/certificate of incorporation numbers of successful applicants under the Hong
+Kong Public Offering and the Preferential Offering will be available at the times and dates
+and in the manner specified below:
+(i) in the announcement to be posted on the Stock Exchange ’s website at
+www.hkexnews.hk and the Company ’s website at www.wuxixdc.com by no later
+than 9:00 a.m. on Thursday, November 16, 2023;
+
+
+--- page 6 ---
+8
+(ii) from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID ” function from
+8:00 a.m. on Thursday, November 16, 2023 to 12:00 midnight on Wednesday,
+November 22, 2023; and
+(iii) from the allocation results telephone enquiry line by calling +852 2862 8555 between
+9:00 a.m. and 6:00 p.m. on Thursday, November 16, 2023, Friday, November 17,
+2023, Monday, November 20, 2023, and Tuesday, November 21, 2023.
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by White
+Form eIPO ” in this announcement refer to Hong Kong identity card numbers/passport
+numbers/Hong Kong business registration numbers/certificate of incorporation numbers/
+beneficial owner identification codes (if such applications are made by nominees as agent
+for the benefit of another person) whereas those displayed in the section headed “Results
+of Applications Made by Giving Electronic Application Instructions to HKSCC via
+CCASS” in this announcement are provided by CCASS Participants via CCASS. Therefore,
+the identification document numbers shown in the two sections are different in nature.
+• Please note that the list of identification document numbers set out in this announcement
+may not be a complete list of successful applicants since only successful applicants whose
+identification document numbers are provided to HKSCC by CCASS Participants are
+disclosed. Applicants with beneficial names only but not identification document numbers
+are not disclosed due to personal privacy issue as elaborated below. Applicants who applied
+for the Hong Kong Offer Shares through their brokers can consult their brokers to enquire
+about their application results.
+• Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications Made
+by White Form eIPO ”, “Results of Applications Made by BLUE Application Form ”
+and “Results of Applications Made by Giving Electronic Application Instructions to
+HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+DISPATCH/COLLECTION OF SHARE CERTIFICATES/e -REFUND PAYMENT
+INSTRUCTIONS/REFUND CHEQUES
+• Applicants who have applied for (i) 1,000,000 or more Hong Kong Offer Shares through
+the White Form eIPO service or (ii) 1,000,000 or more Reserved Shares on a BLUE
+Application Form and whose application is wholly or partially successful may collect Share
+certificate(s) or refund cheque(s) (where applicable) in person from the Hong Kong Share
+Registrar, Computershare Hong Kong Investor Services Limited at Shops 1712-1716, 17/F
+Hopewell Centre, 183 Queen ’s Road East, Wan Chai, Hong Kong, from 9:00 a.m. to 1:00
+p.m. on Thursday, November 16, 2023, or any other place or date notified by the Company.
+
+
+--- page 7 ---
+9
+• Applicants being an individual who is eligible for personal collection must not authorize
+any other person to collect on their behalf. If you are a corporate applicant which is eligible
+for personal collection, your authorized representative must bear a letter of authorization
+from your corporation stamped with your corporation ’s chop. Both individuals and
+authorized representatives must produce evidence of identity acceptable to the Hong Kong
+Share Registrar of the Company at the time of collection.
+• Applicants who apply for less than 1,000,000 Hong Kong Offer Shares through the
+White Form eIPO service, will have their Share certificate(s) or refund cheque(s) (where
+applicable) sent to the address specified in their application instructions on or before
+Thursday, November 16, 2023 by ordinary post and at their own risk.
+• Share certificates or refund cheques for Hong Kong Offer Shares allotted to applicants
+who applied through the White Form eIPO service, or Reserved Shares who applied on
+BLUE Application Forms, which are either not available for personal collection, or which
+are available but are not collected in person within the time specified for collection, are
+expected to be dispatched by ordinary post to those entitled to the addresses specified in
+the relevant applications at their own risk on or before Thursday, November 16, 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC will have their Share certificate(s) issued in the name of HKSCC
+Nominees Limited and deposited directly into CCASS to be credited to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participant who gave electronic application instructions on their behalf on Thursday,
+November 16, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them with that CCASS Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS may also check the number of Hong Kong Offer
+Shares allocated to them and the amount of refund monies (if any) payable to them
+via the CCASS Phone System and the CCASS Internet System (under the procedures
+contained in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time
+to time). Immediately after the crediting of the Hong Kong Offer Shares to the CCASS
+Investor Participant stock accounts and the credit of refund monies to the CCASS Investor
+Participants bank accounts, HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the amount of Hong Kong Offer Shares credited
+to their CCASS Investor Participant stock accounts and the refund amount credited to their
+respective designated bank accounts (if any).
+• For applicants who have applied for the Hong Kong Offer Shares through the White
+Form eIPO service and paid the application monies through a single bank account, refund
+monies (if any) will be dispatched to that bank account in the form of e-Refund payment
+instructions. For applicants who have applied for the Hong Kong Offer Shares through
+the White Form eIPO service and paid the application monies through multiple bank
+accounts, refund monies (if any) will be dispatched to the addresses specified in your
+application instructions in the form of refund cheque(s) in favor of the applicant (or, in the
+case of joint applications, the first-named applicant) by ordinary post and at their own risk
+on or before Thursday, November 16, 2023.
+
+
+--- page 8 ---
+10
+• Refund monies (if any) for applicants who applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their broker or custodian on
+Thursday, November 16, 2023.
+• Share certificates will only become valid at 8:00 a.m. on Friday, November 17, 2023,
+provided that the Global Offering has become unconditional in all respects and neither the
+Hong Kong Underwriting Agreement nor the International Underwriting Agreement has
+been terminated in accordance with their respective terms at or before that time. Investors
+who trade Shares on the basis of publicly available allocation details or prior to the receipt
+of the Share certificates or prior to the Share certificates becoming valid do so entirely at
+their own risk.
+• No temporary document of title will be issued in respect of the Shares. No receipt will be
+issued for sums paid on application.
+PUBLIC FLOAT
+• Immediately following completion of the Global Offering, assuming the Over-allotment
+Option is not exercised, the number of Shares in public hands will represent approximately
+15.14% of the total issued share capital of the Company (assuming the Over-allotment
+Option is not exercised and without taking into account any exercise of the share options
+granted under the Pre-IPO Share Option Schemes). The Company has applied to the Stock
+Exchange for, and the Stock Exchange has granted to the Company, a waiver from strict
+compliance with the requirements of Rule 8.08(1)(a) of the Listing Rules to exercise its
+discretion subject to certain conditions under Rule 8.08(1)(d) of the Listing Rules.
+• The Directors confirm that (a) no placee will, individually, be placed more than 10% of
+the enlarged issued share capital of the Company immediately after the Global Offering;
+(b) there will not be any new substantial Shareholder (as defined in the Listing Rules) of
+the Company immediately after the Global Offering (assuming the Over-allotment Option
+is not exercised and without taking into account any exercise of the share options granted
+under the Pre-IPO Share Option Schemes); (c) the number of Offer Shares in public hands
+will satisfy the minimum percentage as prescribed under the waiver granted by the Stock
+Exchange from strict compliance with Rule 8.08(1)(a) of the Listing Rules; (d) the three
+largest public Shareholders of the Company do not hold more than 50% of the Shares in
+public hands at the time of Listing in compliance with Rules 8.08(3) and 8.24 of the Listing
+Rules; and (e) there will be at least 300 Shareholders at the time of Listing in compliance
+with Rule 8.08(2) of the Listing Rules.
+COMMENCEMENT OF DEALINGS
+• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
+a.m. on Friday, November 17, 2023 (Hong Kong time), dealings in the Shares on the Main
+Board of the Stock Exchange are expected to commence at 9:00 a.m. on Friday, November
+17, 2023 (Hong Kong time). The Shares will be traded in board lots of 500 Shares each.
+The stock code of the Shares is 2268.
+In view of the 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.
+
+
+--- page 9 ---
+11
+OFFER PRICE
+The final Offer Price has been determined at HK$20.60 per Offer Share (exclusive of brokerage
+of 1%, SFC transaction levy of 0.0027%, the Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$20.60 per Offer Share, the net proceeds from the Global Offering
+to be received by the Company, after deducting the estimated underwriting commissions and other
+fees and expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$3,483.3 million.
+The Company intends to apply the net proceeds from the Global Offering as follows:
+• approximately 67.0% of the net proceeds, or HK$2,333.8 million, will be used to further
+expand our manufacturing capacity by (i) constructing our manufacturing facilities in
+Singapore and (ii) expanding our production capacity in China with respect to antibody
+intermediates;
+• approximately 23.0% of the net proceeds, or HK$801.2 million, will be used to selectively
+pursue strategic alliances, investment and acquisition opportunities primarily to enrich our
+technology platform and service offerings and capabilities; and
+• approximately 10.0% of the net proceeds, or HK$348.3 million, for working capital and other
+general corporate purposes.
+If the Over-allotment Option is exercised in full, the Company will receive additional net proceeds
+of approximately HK$380.8 million for 19,158,500 additional Shares to be issued and allotted upon
+the exercise of the Over-allotment Option after deducting the estimated underwriting commissions
+and other fees and expenses payable by the Company in connection with the Global Offering. Any
+additional proceeds received from the exercise of the Over-allotment Option will also be allocated
+to the above purposes on a pro rata basis.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
+the Prospectus.
+
+
+--- page 10 ---
+12
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+Hong Kong Public Offering
+The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
+very significantly over-subscribed. At the close of the application lists at 12:00 noon on Friday,
+November 10, 2023, a total of 30,726 valid applications have been received under the Hong Kong
+Public Offering through the White Form eIPO service and the CCASS EIPO service for a total
+of 891,591,500 Hong Kong Offer Shares, representing approximately 49.96 times of the total
+number of 17,845,000 Offer Shares initially available for subscription under the Hong Kong Public
+Offering, among which:
+• 29,771 valid applications in respect of a total of 210,279,000 Hong Kong Offer Shares
+were for the Hong Kong Public Offering with an aggregate subscription amount, based
+on the maximum Offer Price of HK$20.60 per Offer Share (excluding brokerage of 1%,
+SFC transaction levy of 0.0027%, the Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%), of HK$5.0 million or less, representing approximately 23.57
+times of the 8,922,500 Shares initially available for allocation in Pool A of the Hong Kong
+Public Offering; and
+• 955 valid applications in respect of a total of 681,312,500 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount, based on the
+maximum Offer Price of HK$20.60 per Offer Share (excluding brokerage of 1%, SFC
+transaction levy of 0.0027%, the Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%), of more than HK$5.0 million, representing approximately
+76.36 times of the 8,922,500 Shares initially available for allocation in Pool B of the Hong
+Kong Public Offering.
+No application has been rejected due to dishonored payments. No application has been rejected
+due to invalid application. 22 multiple or suspected multiple applications have been identified
+and rejected. No application for more than 8,922,500 Hong Kong Offer Shares (being 50% of the
+17,845,000 Hong Kong Offer Shares initially available under the Hong Kong Public Offering) has
+been identified.
+As the over-subscription in the Hong Kong Public Offering represents 15 times or more but less
+than 50 times of the number of Hong Kong Offer Shares initially available under the Hong Kong
+Public Offering, the reallocation procedure as described in the section headed “Structure of the
+Global Offering – The Hong Kong Public Offering – Reallocation and Clawback ” in the Prospectus
+has been applied and 35,689,000 Offer Shares have been reallocated from the International
+Offering to the Hong Kong Public Offering.
+As a result of such reallocation, the final number of Offer Shares under the Hong Kong Public
+Offering is 53,534,000 Offer Shares, representing approximately 30% of the total number of Offer
+Shares initially available under the Global Offering (before any exercise of the Over-allotment
+Option). The total number of successful applicants under the Hong Kong Public Offering is 14,832,
+among which 8,362 applicants were allocated with one board lot of the Offer Shares, representing
+approximately 56.38% of the Shareholders who were allocated the Offer Shares under the Hong
+Kong Public Offering, totaling 4,181,000 Shares (representing approximately 7.81% of the total
+Offer Shares under the Hong Kong Public Offering).
+
+
+--- page 11 ---
+13
+The Hong Kong Offer Shares offered in the Hong Kong Public Offering were conditionally
+allocated on the basis set out in the section headed “Basis of Allocation under the Hong Kong
+Public Offering ” below.
+Preferential Offering
+At the close of the application lists at 12:00 noon on Friday, November 10, 2023, a total of four
+valid applications for Assured Entitlement and 15 valid applications for the excess Reserved Shares
+(including 4 Qualifying WXB Shareholders who applied for excess Reserved Shares in addition to
+their respective Assured Entitlement) pursuant to the Preferential Offering from Qualifying WXB
+Shareholders on BLUE Application Forms for a total of 95,640,715 Reserved Shares have been
+received, representing approximately 10.72 times the total number of 8,922,000 Reserved Shares
+initially available under the Preferential Offering. 8,922,000 Reserved Shares were allocated to a
+total of 15 Qualifying WXB Shareholders, representing 5% of the total number of Offer Shares
+initially available under the Global Offering (before any exercise of the Over-allotment Option).
+No application has been rejected due to bounced cheque or dishonored payments. No application
+has been rejected due to invalid application. No multiple or suspected multiple application has
+been identified and rejected.
+The Reserved Shares offered in the Preferential Offering were conditionally allocated on the basis
+set out in the section headed “Basis of Allocation under the Preferential Offering ” below.
+International Offering
+The Offer Shares initially offered under the International Offering have been significantly
+over-subscribed. A total number of 3,147,738,952 International Offer Shares have been subscribed
+(including the subscription by the Cornerstone Investors), representing approximately 19.60
+times of the total number of 160,601,000 International Offer Shares initially available for
+subscription under the International Offering (including 8,922,000 Reserved Shares under the
+Preferential Offering). After reallocation of the Offer Shares to the Hong Kong Public Offering
+from the International Offering, the final number of Offer Shares under the International Offering
+is 124,912,000 Shares (including 8,922,000 Reserved Shares under the Preferential Offering),
+representing approximately 70% of the total number of Offer Shares initially available under the
+Global Offering (before any exercise of the Over-allotment Option).
+There has been an over-allocation of 19,158,500 Offer Shares in the International Offering and
+there are a total of 170 placees under the International Offering, among which:
+(1) a total of 28 placees have been allotted one board lot of Offer Shares or less, representing
+approximately 16.5% of 170 placees under the International Offering. These placees have
+been allotted 14,000 Offer Shares in aggregate, representing approximately 0.009% and
+0.011% of the Offer Shares initially available under the International Offering and available
+under the final International Offer Shares (both assuming the Over-allotment Option is not
+exercised), respectively;
+
+
+--- page 12 ---
+14
+(2) a total of 51 placees have been allotted two board lots of Offer Shares or less, representing
+approximately 30.0% of 170 placees under the International Offering. These placees have
+been allotted 37,000 Offer Shares in aggregate, representing approximately 0.023% and
+0.030% of the Offer Shares initially available under the International Offering and available
+under the final International Offer Shares (both assuming the Over-allotment Option is not
+exercised), respectively;
+(3) a total of 52 placees have been allotted three board lots of Offer Shares or less, representing
+approximately 30.6% of 170 placees under the International Offering. These placees have
+been allotted 38,500 Offer Shares in aggregate, representing approximately 0.024% and
+0.031% of the Offer Shares initially available under the International Offering and available
+under the final International Offer Shares (both assuming the Over-allotment Option is not
+exercised), respectively;
+(4) a total of 67 placees have been allotted four board lots of Offer Shares or less, representing
+approximately 39.4% of 170 placees under the International Offering. These placees have
+been allotted 68,500 Offer Shares in aggregate, representing approximately 0.043% and
+0.055% of the Offer Shares initially available under the International Offering and available
+under the final International Offer Shares (both assuming the Over-allotment Option is not
+exercised), respectively; and
+(5) a total of 67 placees have been allotted five board lots of the Offer Shares or less,
+representing approximately 39.4% of 170 placees under the International Offering. These
+placees have been allotted 68,500 Offer Shares in aggregate, representing approximately
+0.043% and 0.055% of the Offer Shares initially available under the International Offering
+and available under the final International Offer Shares (both assuming the Over-allotment
+Option is not exercised), respectively.
+Cornerstone Investors
+Based on the Offer Price of HK$20.60 per Offer Share (exclusive of brokerage of 1%, SFC
+transaction levy of 0.0027%, the Stock Exchange trading fee of 0.00565% and AFRC transaction
+levy of 0.00015%) and pursuant to the Cornerstone Investment Agreements as disclosed in the
+section headed “Cornerstone Investors ” in the Prospectus, the Cornerstone Investors will be
+allocated to a total of 113,910,000 Offer Shares, representing in aggregate approximately (i)
+63.83% of the Shares offered pursuant to the Global Offering and (ii) 9.67% of the total issued
+share capital of the Company immediately upon completion of the Global Offering (without taking
+into account any Shares which may be issued upon exercise of the share options granted under
+the Pre-IPO Share Option Schemes) (both assuming the Over-allotment Option is not exercised),
+respectively.
+
+
+--- page 13 ---
+15
+The number of Offer Shares subscribed for by the Cornerstone Investors is determined as set out
+below:
+Approximate % of total
+number of Offer Shares
+Approximate % of total
+Shares in issue immediately
+following the completion of
+the Global Offering
+Cornerstone Investor
+Investment
+Amount (1)
+Number of
+Offer Shares (2)
+Assuming
+the Over-
+allotment
+Option is not
+exercised
+Assuming
+the Over-
+allotment
+Option is fully
+exercised
+Assuming
+the Over-
+allotment
+Option is not
+exercised
+Assuming
+the Over-
+allotment
+Option is fully
+exercised
+(in million) (approximate) (approximate) (approximate) (approximate)
+Invesco Advisers, Inc. HK$782.2 37,970,000 21.28% 19.22% 3.22% 3.17%
+General Atlantic
+ Singapore SPV 64 Pte.
+ Ltd. HK$391.1 18,985,000 10.64% 9.61% 1.61% 1.59%
+Al-Rayyan Holding LLC HK$352.0 17,086,500 9.58% 8.65% 1.45% 1.43%
+UBS Asset Management
+ (Singapore) Ltd. HK$312.9 15,188,000 8.51% 7.69% 1.29% 1.27%
+HongShan Funds HK$234.7 11,391,000 6.38% 5.76% 0.97% 0.95%
+Novo Holdings A/S HK$195.5 9,492,500 5.32% 4.80% 0.81% 0.79%
+Lake Bleu Funds HK$78.2 3,797,000 2.13% 1.92% 0.32% 0.32%
+Total HK$2,346.6 113,910,000 63.83% 57.65% 9.67% 9.51%
+Notes:
+(1) Calculated based on the exchange rate set out in the section headed “Information about this Prospectus and the
+Global Offering – Exchange Rate Conversion ” in the Prospectus.
+(2) Rounded down to nearest whole board lot of 500 Shares. Calculated based on the final Offer Price of HK$20.60
+per Offer Share, being the high-end of the indicative Offer Price range set out in the Prospectus.
+(3) Any discrepancies in the tables above between the amounts identified as total amounts and the sum of the
+amounts listed therein are due to rounding.
+The Cornerstone Placing forms part of the International Offering, and the Cornerstone Investors
+will not acquire any Offer Shares under the Global Offering other than pursuant to the Cornerstone
+Investment Agreements. The Offer Shares subscribed by the Cornerstone Investors will rank pari
+passu in all respects with the fully paid Shares in issue following the completion of the Global
+Offering and will be listed on the Stock Exchange, and will be counted towards the public float of
+the Company under Rule 8.08 of the Listing Rules.
+
+
+--- page 14 ---
+16
+To our Company ’s best knowledge, other than (i) UBS Asset Management (Singapore) Ltd. (whose
+ultimate holding company UBS Group AG is listed on the SIX Swiss Exchange (Ticker Symbol:
+UBSG) and on the New York Stock Exchange (Ticker Symbol: UBS)) and (ii) Invesco Advisers,
+Inc. (whose ultimate holding company Invesco Ltd. is listed on the New York Stock Exchange
+(Ticker Symbol: IVZ)), none of the Cornerstone Investors or their respective controlling entity is
+listed on any stock exchange. Each of the Cornerstone Investors has confirmed that all necessary
+approvals have been obtained with respect to the Cornerstone Placing and that no specific approval
+from any stock exchange (if relevant) or its shareholders is required for the relevant cornerstone
+investment as each of them has general authority to invest.
+To our Company ’s best knowledge, each of the Cornerstone Investors is (i) not accustomed
+to taking instructions from our Company, our Directors, chief executive of our Company, our
+Controlling Shareholders, substantial shareholders of our Company or existing Shareholders or any
+of its subsidiaries or their respective close associates in relation to the acquisition, disposal, voting
+or other disposition of the Shares registered in their name or otherwise held by them; (ii) not
+financed directly or indirectly by us, our Directors, chief executive, our Controlling Shareholders,
+substantial shareholders, existing Shareholders or any of its subsidiaries or their respective close
+associates; and (iii) an independent third party of our Group, our connected persons and their
+respective associates, and is not a connected person (as defined in the Listing Rules) of our Group
+and an existing shareholder or a close associate of our Group.
+Other than (a) Lake Bleu Innovation Healthcare Master Fund Limited and Lake Bleu Prime
+Healthcare Master Fund Limited; and (b) HSG Growth VII Holdco, Ltd and HCHP Master Fund,
+each of the Cornerstone Investors is an independent third party of the other Cornerstone Investors.
+Further, immediately following the completion of the Global Offering, none of the Cornerstone
+Investors will have any Board representation in the Company, nor will any of the Cornerstone
+Investors become a substantial Shareholder (as defined in the Listing Rules) of the Company.
+There will be no delayed delivery or deferred settlement of Offer Shares subscribed by the
+Cornerstone Investors and the consideration will be settled by the Cornerstone Investors before the
+Listing Date.
+Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at
+any time during the period of six months from the Listing Date (the “Lock-up Period ”), dispose
+of any of the Offer Shares they have purchased pursuant to the relevant Cornerstone Investment
+Agreements, save for certain limited circumstances, such as transfers to any of its wholly-owned
+subsidiaries, who will be bound by the same obligations of such Cornerstone Investor, including
+the Lock-up Period restriction.
+Placing of Offer Shares to Connected Clients with Consent under the Placing Guidelines
+Certain Offer Shares were placed to connected clients of the Joint Bookrunners and the
+Underwriters (each a “Connected Underwriter ”) within the meaning of the Placing Guidelines.
+Other than HTCI, which holds the Offer Shares on a non-discretionary basis on behalf of
+independent third parties for the purpose of hedging the over-the-counter swaps transactions,
+GSAMS and China Southern hold the Offer Shares on a discretionary basis on behalf of
+independent third parties. Details of which are set out below:
+
+
+--- page 15 ---
+17
+Connected Underwriter(s) Placee
+Number of
+Offer Shares
+placed
+Approximate
+% of the Offer
+Shares initially
+available
+under the
+Global
+Offering (1)
+Approximate
+% of total
+Shares in issue
+immediately
+following the
+completion of
+the Global
+Offering (2)
+Relationship with
+the Connected
+Underwriter(s)
+Goldman Sachs (Asia) L.L.C. Goldman Sachs Asset
+Management (Singapore)
+Pte. Ltd. (3)
+25,000 0.0140% 0.0021% GSAMS is a member
+of the same group of
+companies as GS.
+Huatai Financial Holdings
+(Hong Kong) Limited
+China Southern Asset
+Management Co., Ltd.
+(ʮ
+̡)(4)
+760,000 0.4259% 0.0645% Each of China Southern
+and HTFH is a member
+of the same group of
+companies.
+Huatai Financial Holdings
+(Hong Kong) Limited
+Huatai Capital Investment
+Limited (5)
+40,000 0.0224% 0.0034% HTCI is a member of
+the same group of
+companies as HTFH.
+Notes:
+(1) Assuming the Over-allotment Option is not exercised.
+(2) Assuming the Over-allotment Option is not exercised and without taking into account any exercise of the share
+options granted under the Pre-IPO Share Option Schemes.
+(3) GSAMS will manage the Shares as the discretionary manager for and on behalf of independent third parties and
+the Shares are held with the respective client ’s custodian.
+(4) China Southern, a qualified domestic institutional investor as approved by the relevant PRC authority to conduct
+asset management business, will hold the Shares as the independent agent and discretionary manager of certain
+QDII funds.
+(5) HTFH is a Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager in connection with the Global
+Offering. Pursuant to an ISDA Agreement (the “ISDA Agreement ”) entered into between, HTCI and the
+investors (the “Huatai Clients ”), HTCI, which intends to participate in the Global Offering as a placee, will
+hold the beneficial interest of the Offer Shares on a non-discretionary basis as the single underlying holder
+under Client TRS (as defined below) placed by and fully funded (i.e. with no financing provided by HTCI)
+by the Huatai Clients, by which, HTCI will pass the full economic exposure of the Offer Shares to the Huatai
+Clients, which in effect, HTCI will hold the beneficial interest of the Offer Shares on behalf of the Huatai
+Clients. HTFH, a Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager of the Global Offering,
+and HTCI are affiliated companies. Accordingly, HTCI is considered as a “connected client ” of HTFH pursuant
+to paragraph 13(7) of the Placing Guidelines.
+Instead of directly subscribing for the Offer Shares, the Huatai Clients will place a total return swap order (the
+“Client TRS ”) with HTCI in connection with the Company ’s Global Offering. In order to hedge its exposure
+under the Client TRS, HTCI participates in the Company ’s Global Offering and subscribes the Offer Shares
+through placing order with HTFH during the International Offering.
+
+
+--- page 16 ---
+18
+To the best of the knowledge and after making all reasonable enquiries, each of the Huatai Clients is an
+independent third party of the Company and their respective associates.
+The purpose of HTCI to subscribe for the Offer Shares is for hedging the Client TRS order placed by the Huatai
+Clients. Pursuant to the terms of the contract of the Client TRS, during the tenor of the Client TRS, all economic
+returns of the Offer Shares will be passed to the Huatai Clients through the Client TRS and all economic loss
+shall be borne by the Huatai Clients. HTCI will not take any economic return or bear any economic loss in
+relation to the Offer Shares.
+The Huatai Clients may exercise an early termination right to terminate the Client TRS at any time from the
+issue date of the Client TRS which should be on or after the date on which the Offer Shares are listed on the
+Stock Exchange. Upon the termination upon maturity or early termination of the Client TRS by the Huatai
+Clients, HTCI will dispose the Offer Shares on the secondary market and the Huatai Clients will receive a
+final termination amount of the Client TRS which should have taken into account all the economic returns or
+economic loss in relation to the Offer Shares. If upon the maturity of the Client TRS, the Huatai Clients intend
+to extend the investment period, subject to further agreement between HTCI and the relevant Huatai Clients, the
+term of the Client TRS could be extended by way of a new issuance or a tenor extension.
+It is proposed that HTCI will hold the legal title and the voting right of the Offer Shares by itself, and pass
+through the economic exposure to the Huatai Clients, each being a client who places a Client TRS order with
+HTCI in connection with the Global Offering of the Company. Due to its internal policy, HTCI will not exercise
+the voting right of the Offer Shares during the tenor of the Client TRS.
+During the life of the Client TRS, HTCI may continue to hold the beneficial interest of the Offer Shares in its
+custodian account, or to hold some or all of the Offer Shares in a prime brokerage account for stock borrowing
+purposes (as further described in the paragraph below).
+As permitted under the contractual arrangement with the Huatai Clients, HTCI will lend out its holding of
+underlying Offer Shares in the form of stock borrowing loans consistent with market practice to lower its
+finance costs, provided that HTCI has the ability to call back the Offer Shares on loan at any time in order to
+satisfy its obligations under the Client TRS to ensure the economic interests to be passed to the Huatai Clients
+will remain unchanged.
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to the
+Company, its consent under paragraph 5(1) of the Placing Guidelines to permit the Company to allocate
+Shares in the International Offering to GSAMS, China Southern and HTCI. Offer Shares placed to the
+above connected clients are held by the connected clients on behalf of independent third parties and are
+in compliance with all the conditions under the consent granted by the Stock Exchange.
+Save as disclosed above, to the best knowledge, information and belief of the Directors, (i) no
+Offer Shares placed by or through the Overall Coordinators, the Joint Global Coordinators, the
+Joint Bookrunners, the Joint Lead Managers or the Underwriters under the Global Offering have
+been placed with applicants and their respective ultimate beneficial owners who are core connected
+persons (as defined in the Listing Rules) of the Company, the Directors, or to any connected clients
+(as set out in paragraph 5(1) of the Placing Guidelines) or persons set out in paragraph 5(2) of the
+Placing Guidelines, whether in their own names or through nominees; (ii) none of the Joint Sponsors,
+the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead
+Managers, the Underwriters and their respective affiliate companies, and the connected clients of the
+lead broker or of any distributors (as defined in the Placing Guidelines) has taken up any Offer Share
+for its own benefits under the Global Offering; and (iii) all placees under the International Offering
+and their ultimate beneficial owners are not and are independent of any of the (a) the core connected
+person (as defined in the Listing Rules) of the Company, (b) the Directors or existing Shareholders
+of the Company or any of the Company ’s subsidiaries, or (c) the close associates (as defined in
+the Listing Rules) of (a) and/or (b) above, whether in their own names or through nominees. The
+International Offering is in compliance with the Placing Guidelines.
+
+
+--- page 17 ---
+19
+Save as disclosed above, the Directors, to the best of their knowledge, information and belief,
+confirm that, (i) none of the Offer Shares subscribed by public Shareholders in the Hong Kong
+Public Offering and placees in the International Offering (including the Preferential Offering) has
+been financed directly or indirectly by the Company, any of the Directors, chief executive, senior
+management, the Controlling Shareholders, substantial Shareholders or existing Shareholders
+of the Company or any of its subsidiaries or their respective close associates; (ii) no rebate has
+been, directly or indirectly, provided by the Company, the Directors, chief executive, senior
+management, the Controlling Shareholders, substantial Shareholders, existing Shareholders, or
+any of their subsidiaries or their respective close associates, or syndicate members, or any other
+brokers involved in the Global Offering, to any public Shareholders in the Hong Kong Public
+Offering, Qualifying WXB Shareholders in the Preferential Offering or placees in the International
+Offering; (iii) none of the public Shareholders in the Hong Kong Public Offering and placees
+in the International Offering (including the Preferential Offering) who has subscribed for the
+Offer Shares is accustomed to taking instructions from the Company, any of the Directors, chief
+executive, senior management, the Controlling Shareholders, substantial Shareholders or existing
+Shareholders of the Company or any of its subsidiaries or their respective close associates in
+relation to the acquisition, disposal, voting or other disposition of the Offer Shares registered in
+his/her/its name or otherwise held by him/her/it; (iv) there is no side agreement or arrangement
+between the Company, any of the Directors, chief executive, senior management, the Controlling
+Shareholders, substantial Shareholders, existing Shareholders of the Company or any of its
+subsidiaries or their respective close associates, on one hand, and the public subscribers or the
+placee who has subscribed for the Offer Shares, on the other hand; and (v) the consideration
+payable by the public investors in the Hong Kong Public Offering, Qualifying WXB Shareholders
+in the Preferential Offering and placees in the International Offering for each Offer Share
+subscribed for, or purchased by them, is the same as the Final Offer Price as determined by the
+Company, plus brokerage of 1%, SFC transaction levy of 0.0027%, the Stock Exchange trading fee
+of 0.00565% and AFRC transaction levy of 0.00015%.
+Over-allotment Option
+In connection with the Global Offering, the Company has granted the Over-allotment Option to
+the International Underwriters exercisable by the Overall Coordinators (for themselves and on
+behalf of the International Underwriters). Pursuant to the Over-allotment Option, the International
+Underwriters have the right, exercisable by the Overall Coordinators (for themselves and on behalf
+of the International Underwriters) at any time from the Listing Date until Sunday December 10,
+2023, being the 30th day after the last day for lodging applications under the Hong Kong Public
+Offering, to require the Company to issue and allot up to an aggregate of 19,158,500 additional
+Offer Shares, representing approximately 10.74% of the number of Offer Shares initially available
+under the Global Offering, at the Offer Price, to cover the over-allocations in the International
+Offering.
+There has been an over-allocation of 19,158,500 Offer Shares in the International Offering and such
+over-allocation will be settled using Shares to be borrowed under the Stock Borrowing Agreement
+entered into between WuXi Biologics and the Stabilizing Manager. Such borrowed Shares will
+be covered by exercising the Over-allotment Option in full or in part, or by making purchases
+in the secondary market by the Stabilization Manager (or through its affiliates or any person
+acting for it) at prices that do not exceed the Offer Price or by a combination of these means. In
+the event the Over-allotment Option is exercised, an announcement will be made on the Stock
+Exchange ’s website at www.hkexnews.hk and the Company ’s website at www.wuxixdc.com .
+As at the date of this announcement, the Over-allotment Option has not been exercised.
+
+
+--- page 18 ---
+20
+LOCK-UP OBLIGATIONS
+The Company, the Controlling Shareholders and the Cornerstone Investors are subject to certain
+lock-up obligations (the “Lock-up Obligations ”) in respect of the Shares. The major terms of the
+Lock-up Obligations are set out as follows:
+Name
+Number of Shares
+subject to the
+Lock-up
+Obligations
+Approximate %
+of the total issued
+share capital of the
+Company following
+the completion of the
+Global Offering which
+are subject to the
+Lock-up Obligations
+upon Listing (1)
+Last day of the
+Lock-up Period
+The Company (2) (subject to lock-up obligations
+pursuant to the Listing Rules and the Hong Kong
+Underwriting Agreement)
+N/A N/A May 16, 2024 (2)
+Controlling Shareholders (3)
+ WuXi AppTec (3) (subject to lock-up obligations
+ pursuant to the Listing Rules)
+400,000,000 33.94% May 16, 2024
+(First Six-Month Period),
+November 16, 2024
+(Second Six-Month Period) (3)
+ WuXi Biologics (4) (subject to lock-up
+ obligations pursuant to the Listing Rules
+ and obligations in favor of the Company
+ pursuant to the Hong Kong Underwriting
+ Agreement)
+600,000,000 50.91% November 16,
+2025 (Twenty Four-
+Month Period) (4)
+Cornerstone Investors (5) (subject to lock-up
+obligations in favor of the Company pursuant to the
+Cornerstone Investment Agreements)
+113,910,000 9.67% May 16, 2024 (5)
+Notes:
+(1) Assuming the Over-allotment Option is not exercised and without taking into account any exercise of the share
+options granted under the Pre-IPO Share Option Schemes.
+(2) The Company may not issue or agree to issue or announce its intention to issue Shares or securities of the
+Company on or before the indicated date unless in compliance with the requirements of the Listing Rules.
+(3) For details of the lock-up obligations of the Controlling Shareholders, please refer to the sections headed
+“Underwriting – Underwriting Arrangements and Expenses – Undertakings to the Stock Exchange pursuant to
+the Listing Rules – Undertakings by our Controlling Shareholders ” in the Prospectus.
+(4) For details of the lock-up obligations of WuXi Biologics, please refer to the sections headed “Underwriting –
+Underwriting Arrangements and Expenses – Undertakings Pursuant to the Hong Kong Underwriting Agreement
+– Undertakings by WuXi Biologics ” in the Prospectus.
+(5) The Cornerstone Investors may not dispose of any of the Offer Shares subscribed pursuant to the relevant
+Cornerstone Investment Agreements in the Global Offering prior to the indicated date, save for certain limited
+circumstances, such as transfers to any of its wholly-owned subsidiaries, who will be bound by the same
+obligations of such Cornerstone Investor, including the lock-up obligations.
+
+
+--- page 19 ---
+21
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the section headed “Structure of the Global
+Offering – Conditions of the Global Offering ” in the Prospectus, 30,726 valid applications made
+by the public through the White Form eIPO service and the CCASS EIPO service 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 12,488 1,623 out of 12,488 to receive 500 Shares 13.00%
+1,000 1,887 490 out of 1,887 to receive 500 Shares 12.98%
+1,500 896 349 out of 896 to receive 500 Shares 12.98%
+2,000 5,476 2,843 out of 5,476 to receive 500 Shares 12.98%
+2,500 996 646 out of 996 to receive 500 Shares 12.97%
+3,000 357 277 out of 357 to receive 500 Shares 12.93%
+3,500 226 204 out of 226 to receive 500 Shares 12.90%
+4,000 514 500 Shares plus 16 out of 514 to receive additional 500 Shares 12.89%
+4,500 436 500 Shares plus 69 out of 436 to receive additional 500 Shares 12.87%
+5,000 1,277 500 Shares plus 366 out of 1,277 to receive additional 500 Shares 12.87%
+6,000 259 500 Shares plus 141 out of 259 to receive additional 500 Shares 12.87%
+7,000 180 500 Shares plus 144 out of 180 to receive additional 500 Shares 12.86%
+8,000 178 1,000 Shares plus 10 out of 178 to receive additional 500 Shares 12.85%
+9,000 1,181 1,000 Shares plus 370 out of 1,181 to receive additional 500 Shares 12.85%
+10,000 805 1,000 Shares plus 459 out of 805 to receive additional 500 Shares 12.85%
+15,000 417 1,500 Shares plus 357 out of 417 to receive additional 500 Shares 12.85%
+20,000 339 2,500 Shares plus 47 out of 339 to receive additional 500 Shares 12.85%
+25,000 235 3,000 Shares plus 100 out of 235 to receive additional 500 Shares 12.85%
+30,000 183 3,500 Shares plus 130 out of 183 to receive additional 500 Shares 12.85%
+35,000 116 4,000 Shares plus 115 out of 116 to receive additional 500 Shares 12.84%
+40,000 113 5,000 Shares plus 31 out of 113 to receive additional 500 Shares 12.84%
+45,000 102 5,500 Shares plus 57 out of 102 to receive additional 500 Shares 12.84%
+50,000 285 6,000 Shares plus 237 out of 285 to receive additional 500 Shares 12.83%
+60,000 107 7,500 Shares plus 27 out of 107 to receive additional 500 Shares 12.71%
+70,000 73 8,500 Shares plus 55 out of 73 to receive additional 500 Shares 12.68%
+80,000 75 10,000 Shares plus 22 out of 75 to receive additional 500 Shares 12.68%
+90,000 37 11,000 Shares plus 30 out of 37 to receive additional 500 Shares 12.67%
+100,000 188 12,500 Shares plus 64 out of 188 to receive additional 500 Shares 12.67%
+125,000 83 15,500 Shares plus 56 out of 83 to receive additional 500 Shares 12.67%
+150,000 77 19,000 Shares plus 1 out of 77 to receive additional 500 Shares 12.67%
+175,000 34 22,000 Shares plus 12 out of 34 to receive additional 500 Shares 12.67%
+200,000 46 25,000 Shares plus 31 out of 46 to receive additional 500 Shares 12.67%
+225,000 105 27,000 Shares plus 99 out of 105 to receive additional 500 Shares 12.21%
+29,771 Total number of Pool A successful applicants: 13,877
+
+
+--- page 20 ---
+22
+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
+250,000 669 27,500 Shares plus 138 out of 669 to receive additional 500 Shares 11.04%
+500,000 104 28,000 Shares 5.60%
+750,000 48 28,500 Shares 3.80%
+1,000,000 61 29,000 Shares 2.90%
+2,000,000 28 29,500 Shares 1.48%
+3,000,000 8 30,000 Shares 1.00%
+4,000,000 3 30,500 Shares 0.76%
+5,000,000 5 31,000 Shares 0.62%
+6,000,000 3 31,500 Shares 0.53%
+7,000,000 1 32,000 Shares 0.46%
+8,922,500 25 32,500 Shares 0.36%
+955 Total number of Pool B successful applicants: 955
+The final number of Offer Shares under the Hong Kong Public Offering is 53,534,000 Offer
+Shares, representing approximately 30% of the total number of Offer Shares initially available
+under the Global Offering (before any exercise of the Over-allotment Option).
+BASIS OF ALLOCATION UNDER THE PREFERENTIAL OFFERING
+The final number of Reserved Shares allocated to Qualifying WXB Shareholders in the Preferential
+Offering is 8,922,000 Reserved Shares, representing approximately 5% of the Offer Shares initially
+available under the Global Offering (before any exercise of the Over-allotment Option). Such
+8,922,000 Reserved Shares have been allocated to a total of 15 Qualifying WXB Shareholders.
+Among the Reserved Shares allocated, four valid applications in respect of a total of 1,598,043
+Reserved Shares will be allocated to Qualifying WXB Shareholders as their Assured Entitlement
+and 15 valid applications in respect of a total of 7,323,957 Reserved Shares will be allocated to
+Qualifying WXB Shareholders under their valid applications for excess Reserved Shares.
+No preferential treatment was given to any of the Qualifying WXB Shareholders in the allocation
+of the Reserved Shares applied for by them under the Preferential Offering and such allocation of
+Reserved Shares under the Preferential Offering was made in accordance with the allocation basis
+disclosed in the section headed “Structure of the Global Offering – The Preferential Offering –
+Basis of Allocation for Applications for the Reserved Shares ” in the Prospectus. Valid applications
+made by Qualifying WXB Shareholders for excess Reserved Shares on BLUE Application Forms
+will be conditionally allotted on the basis set out below:
+
+
+--- page 21 ---
+23
+Preferential Offering
+NO. OF
+SHARES
+APPLIED FOR
+NO. OF
+APPLICATIONS
+TOTAL NO.
+OF EXCESS
+RESERVED
+SHARES
+APPLIED FOR
+BASIS OF
+ALLOTMENT/BALLOT
+TOTAL NO.
+OF RESERVED
+SHARES
+ALLOTED
+APPROXIMATE
+PERCENTAGE
+OF ALLOCATION
+BASED ON THE
+THE TOTAL
+NO. OF EXCESS
+RESERVED
+SHARES APPLIED
+FOR IN THIS
+CATEGORY
+5 to 80,000 14 203,015 Allot Excess Reserved Shares applied for in
+full
+203,015 100.00%
+93,839,657 1 93,839,657 Approximately 7.59% of the Excess
+Reserved Shares applied for (HKSCC
+Nominees Limited apply on behalf of the
+applicants who apply in CCASS indirectly
+through a broker/custodian)
+7,120,942 7.59%
+Total 15 94,042,672 7,323,957
+Allocation of Reserved Shares to Certain Directors and/or their Close Associates
+To the best knowledge of the Company and after all reasonable enquiries, among the Reserved
+Shares allocated to the Qualifying WXB Shareholders, approximately 78,815 and 6 Reserved
+Shares, representing approximately 0.0067% and 0.0000% of the total issued share capital of the
+Company immediately upon completion of the Global Offering (assuming the Over-allotment
+Option is not exercised and without taking into account any exercise of the share options
+granted under the Pre-IPO Share Option Schemes), are expected to be allocated to our Directors
+Dr. Zhisheng Chen and Ms. Ming Shi and/or their close associates based on their respective
+applications made by BLUE Application Forms, respectively, each of whom is a core connected
+person of the Company.
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a
+waiver from strict compliance with Rule 10.03 and Rule 9.09(b) of the Listing Rules and a consent
+under Paragraph 5(2) of the Placing Guidelines to permit the Company to allocate the Reserved
+Shares to the Relevant Directors and/or their close associates in the Preferential Offering, subject
+to the conditions disclosed in the section headed “Waivers and Exemption from Strict Compliance
+with the Listing Rules and the Companies (Winding Up and Miscellaneous Provisions) Ordinance
+– Waiver and Consent in respect to Allocation of Shares to Directors and their Close Associates in
+Preferential Offering ” in the Prospectus. Such conditions have been satisfied.
+
+
+--- page 22 ---
+24
+RESULTS OF ALLOCATIONS
+The final offer price, the level of applications in the Hong Kong Public Offering, the level of
+indication of interest in the International Offering and the Preferential Offering and the basis
+of allocation of the Hong Kong Offer Shares and Reserved Shares are published on the Stock
+Exchange ’s website at www.hkexnews.hk and the Company ’s website at www.wuxixdc.com on
+Thursday, November 16, 2023.
+The results of allocations and the Hong Kong identity card/passport/Hong Kong business
+registration/certificate of incorporation numbers of successful applicants under the Hong Kong
+Public Offering and the Preferential Offering will be available at the times and dates and in the
+manner specified below:
+(i) in the announcement to be posted on the Stock Exchange ’s website at www.hkexnews.hk
+and the Company ’s website at www.wuxixdc.com by no later than 9:00 a.m. on Thursday,
+November 16, 2023;
+(ii) from the designated results of allocations website at www.iporesults.com.hk (alternatively: English
+https://www.eipo.com.hk/en/Allotment ; Chinese https://www.eipo.com.hk/zh-hk/Allotment)
+with a “search by ID” function from 8:00 a.m. on Thursday, November 16, 2023 to 12:00 midnight
+on Wednesday, November 22, 2023; and
+(iii) from the allocation results telephone enquiry line by calling +852 2862 8555 between 9:00
+a.m. and 6:00 p.m. on Thursday, November 16, 2023, Friday, November 17, 2023, Monday,
+November 20, 2023, and Tuesday, November 21, 2023.
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ” in this
+announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong business
+registration numbers/certificate of incorporation numbers/beneficial owner identification codes (if
+such applications are made by nominees as agent for the benefit of another person) whereas those
+displayed in the section headed “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS Participants
+via CCASS. Therefore, the identification document numbers shown in the two sections are
+different in nature.
+Please note that the list of identification document numbers set out in this announcement may not
+be a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants are disclosed. Applicants with
+beneficial names only but not identification document numbers are not disclosed due to personal
+privacy issue as elaborated below. Applicants who applied for the Hong Kong Offer Shares
+through their brokers can consult their brokers to enquire about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by White
+Form eIPO ”, “Results of Applications Made by BLUE Application Form ” and “Results of
+Applications Made by Giving Electronic Application Instructions to HKSCC via CCASS ” are
+redacted and not all details of applications are disclosed in this announcement.
+
+
+--- page 23 ---
+25
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+• Top 1, 5, 10, 20 and 25 placees under the International Offering (based on final number of
+Offer Shares allocated to the placees under the International Offering after reallocation):
+Assuming the Over-Allotment
+Option is not exercised
+Assuming the Over-Allotment
+Option is fully exercised
+Placee
+Number of
+International
+Offer Shares
+subscribed for
+Total
+Number of
+Shares held
+upon Listing
+Subscription
+as
+approximate
+% of the
+International
+Offering
+Subscription
+as
+approximate
+% of the
+total Offer
+Shares
+Subscription
+as
+approximate
+% of the
+total issued
+Shares upon
+Listing
+Subscription
+as
+approximate
+% of the
+International
+Offering
+Subscription
+as
+approximate
+% of the
+total Offer
+Shares
+Subscription
+as
+approximate
+% of the
+ total issued
+Shares upon
+Listing
+Top 1 37,970,000 37,970,000 30.40% 21.28% 3.22% 26.36% 19.22% 3.17%
+Top 5 100,620,500 100,620,500 80.55% 56.39% 8.54% 69.84% 50.92% 8.40%
+Top 10 123,310,000 123,310,000 98.72% 69.10% 10.46% 85.59% 62.40% 10.30%
+Top 20 130,524,000 130,524,000 104.49% 73.14% 11.08% 90.60% 66.05% 10.90%
+Top 25 131,702,000 131,702,000 105.44% 73.80% 11.18% 91.41% 66.65% 11.00%
+• Top 1, 5, 10, 20 and 25 Shareholders of all the Shareholders upon Listing (based on final
+number of Offer Shares allocated to the placees under the International Offering after
+reallocation):
+Assuming the Over-Allotment
+Option is not exercised
+Assuming the Over-Allotment
+Option is fully exercised
+Shareholder
+Number of
+Hong Kong
+Offer Shares
+subscribed
+for
+Number of
+International
+Offer Shares
+subscribed
+for
+Number of
+Offer Shares
+subscribed for
+Total
+Number of
+Shares held
+upon Listing
+Number of
+Shares
+subscribed
+for as
+approximate
+% of the
+International
+Offering
+Number of
+Shares
+subscribed
+for as
+approximate
+% of the
+total Offer
+Shares
+Number of
+Shares
+held as
+% of
+total
+issued
+Shares
+upon
+Listing (1)
+Number of
+Shares
+subscribed
+for as
+approximate
+% of the
+International
+Offering
+Number of
+Shares
+subscribed
+for as
+approximate
+% of the
+total Offer
+Shares
+Number of
+Shares
+held as
+% of
+total
+issued
+Shares
+upon
+Listing (1)
+Top 1 – – – 600,000,000 – – 50.91% – – 50.10%
+Top 5 – 74,041,500 74,041,500 1,074,041,500 59.27% 41.49% 91.14% 51.39% 37.47% 89.68%
+Top 10 – 119,110,000 119,110,000 1,119,110,000 95.36% 66.75% 94.96% 82.67% 60.28% 93.45%
+Top 20 – 129,992,000 129,992,000 1,129,992,000 104.07% 72.85% 95.89% 90.23% 65.78% 94.35%
+Top 25 – 131,322,000 131,322,000 1,131,322,000 105.13% 73.59% 96.00% 91.15% 66.46% 94.47%
+Note:
+(1) Without taking into account any Shares which may be issued upon exercise of the share options granted under
+the Pre-IPO Share Option Schemes.
+
+
+--- page 24 ---
+26
+In view of the 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.
diff --git a/data/extracted_text/02271/allotment_results_summary_2023-07-17_2023071700008.txt b/data/extracted_text/02271/allotment_results_summary_2023-07-17_2023071700008.txt
new file mode 100644
index 0000000..3af5705
--- /dev/null
+++ b/data/extracted_text/02271/allotment_results_summary_2023-07-17_2023071700008.txt
@@ -0,0 +1,1239 @@
+--- page 1 ---
+– 3 –
+ANNOUNCEMENT OF OFFER PRICE
+AND ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+• The Offer Price has been determined at HK$1.18 per Offer Share (excluding
+brokerage of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading
+fee of 0.00565% and Accounting and Financial Reporting Council transaction
+levy of 0.00015%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$1.18 per Offer Share, the net proceeds from
+the Global Offering to be received by the Company, after deducting the
+underwriting commissions, fees and other estimated expenses paid and payable
+by the Company in connection with the Global Offering and assuming that the
+Over-allotment Option is not exercised at all, is estimated to be approximately
+HK$91.7 million. The Company intends to apply such net proceeds in
+accordance with the purposes as set out in the section headed “Net Proceeds
+from the Global Offering” in this announcement.
+• If the Over-allotment Option is exercised in full, the Company will receive
+additional net proceeds of approximately HK$21.7 million for the issue of
+19,000,000 additional Offer Shares. In such event, the Company will increase
+the intended use of net proceeds on a pro rata basis according to the use
+of proceeds as set out in “Net Proceeds from the Global Offering” in this
+announcement.
+Applications and Indications of Interest Received in the Hong Kong Public
+Offering and the Preferential Offering
+• The Hong Kong Offer Shares initially available under the Hong Kong Public
+Offering have been moderately over-subscribed. A total of 1,690 valid
+applications have been received pursuant to the Hong Kong Public Offering
+through giving electronic application instructions to HKSCC via CCASS
+and through the HK eIPO White Form service for a total of 23,328,000 Offer
+Shares, representing approximately 1.84 times the total number of 12,668,000
+Hong Kong Offer Shares initially available for subscription under the Hong
+Kong Public Offering.
+
+
+--- page 2 ---
+– 4 –
+• The reallocation procedure as described in the section headed “Structure of
+the Global Offering – Hong Kong Public Offering – Reallocation” in the
+Prospectus has not been applied. The final number of Offer Shares allocated
+to the Hong Kong Public Offering is 12,668,000 Offer Shares, representing
+approximately 10.0% of the total number of Offer Shares initially available
+under the Global Offering.
+• A total of 19 valid applications for Reserved Shares pursuant to the
+Preferential Offering from Qualifying Zhong An Shareholders under the
+HK eIPO Blue Form service and on BLUE Application Forms for a total
+of 659,764 Reserved Shares have been received, representing approximately
+0.05 times the total number of 12,668,000 Reserved Shares initially available
+under the Preferential Offering. 659,764 Reserved Shares were allocated to
+Qualifying Zhong An Shareholders. All of the unsold Reserved Shares were
+made available for subscription under the International Offering.
+International Offering
+• The Offer Shares initially offered under the International Offering have been
+slightly over-subscribed, representing approximately 1.63 times the total
+number of 114,000,000 Offer Shares initially available under the International
+Offering (including 659,764 Reserved Shares under the Preferential Offering)
+(before any exercise of the Over-allotment Option). As the number of Hong
+Kong Public Offer Shares validly subscribed for in the Hong Kong Public
+Offering represents less than 15 times the number of Hong Kong Public
+Offer Shares initially available for subscription under the Hong Kong Public
+Offering, the Overall Coordinators and the Joint Representatives have
+decided not to exercise their authority to reallocate Offer Shares to the Hong
+Kong Public Offering from the International Offering and make available
+such reallocated Offer Shares as additional Hong Kong Public Offer Shares
+in accordance with guidance letter HKEX-GL91–18 issued by the Stock
+Exchange, and no reallocation procedure as described in “Structure of the
+Global Offering – The Hong Kong Public Offering – Reallocation” in the
+Prospectus has taken place. The final number of International Offer Shares
+available under the International Offering is 113,340,236 Offer Shares,
+representing 89.5% of the total number of Offer Shares initially available
+under the Global Offering (before any exercise of the Over-allotment Option).
+
+
+--- page 3 ---
+– 5 –
+• There has been an over-allocation of 19,000,000 Offer Shares and there are
+a total of 130 placees under the International Offering. Among 130 placees
+under the International Offering:
+1) a total of 20 placees have been allocated one board lot of Offer Shares
+or less, representing approximately 15.38% of 130 placees under the
+International Offering. These placees have been allotted 40,000 Offer
+Shares, representing approximately 0.0351% of the 114,000,000 Offer
+Shares initially available under the International Offering (before any
+exercise of the Over-allotment Option);
+2) a total of 27 placees have been allocated two board lot of Offer Shares
+or less, representing approximately 20.77% of 130 placees under the
+International Offering. These placees have been allotted 68,000 Offer
+Shares, representing approximately 0.0596% of the 114,000,000 Offer
+Shares initially available under the International Offering (before any
+exercise of the Over-allotment Option);
+3) a total of 38 placees have been allocated three board lot of Offer Shares
+or less, representing approximately 29.23% of 130 placees under the
+International Offering. These placees have been allotted 134,000 Offer
+Shares, representing approximately 0.1175% of the 114,000,000 Offer
+Shares initially available under the International Offering (before any
+exercise of the Over-allotment Option);
+4) a total of 43 placees have been allocated four board lot of Offer Shares
+or less, representing approximately 33.08% of 130 placees under the
+International Offering. These placees have been allotted 174,000 Offer
+Shares, representing approximately 0.1526% of the 114,000,000 Offer
+Shares initially available under the International Offering (before any
+exercise of the Over-allotment Option); and
+5) a total of 75 placees have been allocated five board lot of Offer Shares
+or less, representing approximately 57.69% of 130 placees under the
+International Offering. These placees have been allotted 494,000 Offer
+Shares, representing approximately 0.4333% of the 114,000,000 Offer
+Shares initially available under the International Offering (before any
+exercise of the Over-allotment Option).
+
+
+--- page 4 ---
+– 6 –
+Placees with the Consent under Paragraph 5(1) of the Placing Guidelines and
+paragraph 4.20 of the Stock Exchange Guidance Letter GL85-16
+• Under the International Offering, 17,100,000 Offer Shares (the “ Relevant
+Offer Shares ”), representing approximately 13.50% of the total number
+of Offer Shares initially available under the Global Offering (assuming the
+Over-allotment Option is not exercised) and approximately 3.37% of the
+total number of issued Shares immediately following the completion of the
+Capitalization Issue and the Global Offering (assuming the Over-allotment
+Option is not exercised), were placed to Guotai Junan Financial Products
+Limited (“ GTJA Financial Products ”), which is a connected client of
+Guotai Junan Securities (Hong Kong) Limited (“ GTJAS ”), one of the Joint
+Bookrunners and Joint Lead Managers, pursuant to paragraph 13(7) of the
+Placing Guidelines for Equity Securities set out in Appendix 6 to the Listing
+Rules (the “Placing Guidelines”). An application has been made to the Stock
+Exchange for, and the Stock Exchange has granted a consent under paragraph
+5(1) of the Placing Guidelines to permit the Company to allocate Shares in the
+International Offering to the above connected client. The Shares to be placed
+to GTJA Financial Products is to establish hedge positions of the Relevant
+Offer Shares for the structured notes linked to the Relevant Offer Shares (the
+“Note”) to be issued by GTJA Holdings Guotai Junan International Holdings
+Limited (“GTJA Holdings”) to one investor (the “Noteholder”).
+Acquisition by GTJA Financial Products of the Relevant Offer Shares will be
+fully funded by the Noteholder. GTJA Financial Products will hold the title
+and the voting right of the Relevant Offer Shares but it will not exercise the
+voting right of the Relevant Offer Shares during the tenor of the Note as per
+its internal policy. GTJA Financial Products (via GTJA Holdings) will pass
+through the economic exposure of the Relevant Offer Shares to the Noteholder
+under the Note. The Note is linked to the Relevant Offer Shares and will
+be settled in cash upon request for redemption from the Noteholder. GTJA
+Financial Products shall redeem the Note (in whole but not in part) upon
+receipt from the Noteholder, a notice to early redeem the Note in accordance
+with the terms and conditions as set out in the Note document.
+To the best knowledge of the Company, the Joint Sponsors, the Overall
+Coordinators and the Joint Representatives, after making all reasonable
+inquiries, the Noteholder and the ultimate beneficial holder of the Note is
+an Independent Third Party, and is not a connected person (as defined in the
+Listing Rules) of the Company or their respective associates (as defined in the
+Listing Rules) and are in compliance with all the conditions under the consent
+granted by the Stock Exchange.
+
+
+--- page 5 ---
+– 7 –
+• GTJA Financial Products has been permitted to participate in the International
+Offering pursuant to paragraph 4.20 of the Stock Exchange Guidance Letter
+GL85-16 under a written consent under paragraph 5(1) of Appendix 6 to
+the Listing Rules granted by the Stock Exchange to permit the Company to
+allocate Shares in the International Offering to the above connected client.
+Other than the aforementioned, the Directors, to the best of its knowledge
+and information, confirm that, (i) none of the Offer Shares subscribed by
+public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering (including the Preferential Offering) has been financed
+directly or indirectly by the Company, any of the Directors, chief executive,
+senior management, the Controlling Shareholders, substantial Shareholders
+or existing Shareholders of the Company or any of its subsidiaries or their
+respective close associates; (ii) no rebate has been, directly or indirectly,
+provided by the Company, the Directors, chief executive, senior management,
+the Controlling Shareholders, substantial Shareholders, existing Shareholders
+or syndicate members, or any other brokers involved in the Global Offering,
+to any public Shareholders in the Hong Kong Public Offering or placees in
+the International Offering; (iii) none of the public Shareholders in the Hong
+Kong Public Offering and placees in the International Offering (including the
+Preferential Offering) who has subscribed for the Offer Shares is accustomed
+to taking instructions from the Company, any of the Directors, chief executive,
+senior management, the Controlling Shareholders, substantial Shareholders
+or existing Shareholders of the Company or any of its subsidiaries or their
+respective close associates in relation to the acquisition, disposal, voting or
+other disposition of the Offer Shares registered in his/her/its name or otherwise
+held by him/her/it; (iv) there is no side agreement or arrangement between
+the Company, any of the Directors, chief executive, senior management, the
+Controlling Shareholders, substantial Shareholders, existing Shareholders of
+the Company or any of its subsidiaries or their respective close associates,
+on one hand, and the public subscribers or the placee who has subscribed for
+the Offer Shares, on the other hand; and (v) the consideration payable by the
+public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering (including the Preferential Offering) for each Offer
+Share subscribed for or purchased by them is the same as the final Offer Price as
+determined by the Company, in addition to brokerage of 1.0%, SFC transaction
+levy of 0.0027%, Accounting and Financial Reporting Council transaction levy
+of 0.00015% and Stock Exchange trading fee of 0.00565%. The International
+Offering is in compliance with the Placing Guidelines.
+
+
+--- page 6 ---
+– 8 –
+Save as disclosed above, to the best knowledge, information and belief
+of the Directors, (i) no Offer Shares placed by or through the Overall
+Coordinators, the Joint Representatives, the Joint Global Coordinators, the
+Joint Bookrunners, the Joint Lead Managers or the Underwriters under the
+Global Offering have been placed with applicants and their respective ultimate
+beneficial owners who are core connected persons (as defined in the Listing
+Rules) of the Company, the Directors, or to any connected clients (as set out
+in paragraph 5(1) of the Placing Guidelines) or persons set out in paragraph
+5(2) of the Placing Guidelines, whether in their own names or through
+nominees; (ii) none of the Joint Sponsors, the Overall Coordinators, the
+Joint Representatives, the Joint Global Coordinators, the Joint Bookrunners,
+the Joint Lead Managers, the Underwriters and their respective affiliate
+companies, and the connected clients of the lead broker or of any distributors
+(as defined in the Placing Guidelines) has taken up any Offer Share for its own
+benefits under the Global Offering; and (iii) all placees under the International
+Offering and their ultimate beneficial owners are not and are independent of
+any of the (a) the core connected person (as defined in the Listing Rules) of the
+Company, (b) the Directors or existing Shareholders of the Company or any
+of the Company’s subsidiaries, or (c) the close associates (as defined in the
+Listing Rules) of (a) and/or (b) above, whether in their own names or through
+nominees. The International Offering is in compliance with the Placing
+Guidelines.
+Over-allotment Option
+• In connection with the Global Offering, the Company has granted to the
+International Underwriters the Over-allotment Option, exercisable in whole
+or in part by the Overall Coordinators and the Joint Representatives (for
+themselves and on behalf of the other International Underwriters), at any time
+within 30 days after the last day for lodging of applications under the Hong
+Kong Public Offering (the last day for exercise of the Over-allotment Option
+being Thursday, August 10, 2023) to require the Company to issue and allot up
+to 19,000,000 additional Shares, representing approximately 15.0% of the total
+number of Offer Shares initially available under the Global Offering, at the
+Offer Price to cover over-allocations in the International Offering.
+• There has been an over-allocation of 19,000,000 Offer Shares in the
+International Offering. Such over-allocation may be covered by exercising
+the Over-allotment Option in full or in part or by making purchases in
+the secondary market or a combination of these means. In the event the
+Over-allotment Option is exercised, an announcement will be made on the
+website of the Company at www.zazhsh.com and the website of the Stock
+Exchange at www.hkexnews.hk . As of the date of this announcement, the
+Over-allotment Option has not been exercised.
+
+
+--- page 7 ---
+– 9 –
+Cornerstone Investors
+• Based on the Offer Price of HK$1.18 per Offer Shares (exclusive of brokerage
+of brokerage of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange
+trading fee of 0.00565% and Accounting and Financial Reporting Council
+transaction levy of 0.00015%) and pursuant to the Cornerstone Investment
+Agreements, the Cornerstone Investors will be allocated to a total of
+17,532,000 Offer Shares, representing approximately 13.8% of the Offer
+Shares pursuant to the Global Offering and approximately 3.5% of the Shares
+in issue and the total issued Share capital immediately upon completion of the
+the Capitalization Issue and Global Offering (assuming the Over-allotment
+Option is not exercised). Please refer to the section headed “Cornerstone
+Investors” in the Prospectus for further details of the Cornerstone Investors.
+Lock-up Period Restrictions
+• The Company, the Controlling Shareholders and the Cornerstone Investors are
+subject to certain lock-up period restrictions which are described in the section
+headed “Lock-up Period Restrictions” in this announcement.
+Results of Allocations
+• The final Offer Price, the level of applications in the Hong Kong Public
+Offering and Preferential Offering, the level of indication of interest in the
+International Offering and the basis of allocation of the Hong Kong Offer
+Shares and Reserved Shares, will be available on Monday, July 17, 2023 on
+the website of the Company at www.zazhsh.com and the website of the Stock
+Exchange at www.hkexnews.hk .
+• The results of allocations in the Hong Kong Public Offering and Preferential
+Offering (with successful applicants’ Hong Kong identity card/passport/Hong
+Kong business registration numbers/certificate of incorporation numbers,
+where appropriate) and the number of Hong Kong Offer Shares, successfully
+applied for, will be made available at the times and dates and in the manner set
+out below:
+(i) in the announcement to be posted on the website of the Company at
+www.zazhsh.com and the website of the Stock Exchange at
+www.hkexnews.hk by no later than 9:00 a.m. on Monday, July 17, 2023;
+(ii) from “IPO Results” function in the IPO App or the designated
+results of allocations website at www.tricor.com.hk/ipo/result or
+www.hkeipo.hk/IPOResult with a “search by ID” function on a 24-hour
+basis from 8:00 a.m. on Monday, July 17, 2023 to 12:00 midnight on
+Monday, July 24, 2023; and
+(iii) by telephone enquiry line by calling +852 3691 8488 between 9:00 a.m.
+and 6:00 p.m. from Monday, July 17, 2023 to Friday, July 21, 2023
+(excluding Saturday or public holiday in Hong Kong);
+
+
+--- page 8 ---
+– 10 –
+• This announcement contains a list of identification document numbers.
+Identification document numbers shown in the section headed “Results of
+Applications Made by HK eIPO White Form ” in this announcement refer
+to Hong Kong identity card numbers/passport numbers/Hong Kong business
+registration numbers/certificate of incorporation numbers/beneficial owner
+identification codes (if such applications are made by nominees as agent
+for the benefit of another person) whereas those displayed in the section
+headed “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS” in this announcement are provided
+by CCASS Participants via CCASS. Therefore, the identification document
+numbers shown in the two sections are different in nature. Please note that the
+list of identification document numbers set out in this announcement may not
+be a complete list of successful applicants since only successful applicants
+whose identification document numbers are provided to HKSCC by CCASS
+Participants are disclosed. Applicants with beneficial names only but not
+identification document numbers are not disclosed due to personal privacy
+issue as elaborated below. Applicants who applied for the Hong Kong Offer
+Shares through their brokers can consult their brokers to enquire about their
+application results.
+• Since applications are subject to Personal Information Collection Statements,
+beneficial owner identification codes displayed in the sections headed
+“Results of Applications Made by HK eIPO White Form ” and “Results of
+Applications Made by Giving Electronic Application Instructions to HKSCC
+via CCASS” are redacted and not all details of applications are disclosed in
+this announcement.
+Despatch/Collection of Share Certificates/e-Auto Refund Payment Instructions/
+Refund Cheque(s)
+• Applicants who applied for (i) 1,000,000 or more Hong Kong Offer Shares
+through HK eIPO White Form service; or (ii) HK eIPO Blue Form service;
+or (iii) BLUE Application Form for 1,000,000 or more Reserved Shares
+under Preferential Offering and have provided all information required by the
+Application Form may collect any refund cheque(s) (where applicable) and/
+or share certificate(s) from our Hong Kong Branch Share Registrar, Tricor
+Investor Services Limited, at 17/F, Far East Finance Centre, 16 Harcourt
+Road, Hong Kong, from 9:00 a.m. to 1:00 p.m. on Monday, July 17, 2023,
+or such other date as notified by us as the date of dispatch/collection of share
+certificates/e-Auto Refund payment instructions/refund cheques.
+• Applicants being individuals who are eligible for personal collection cannot
+authorize any other person to make collection on their behalf. Corporate
+applicants which are eligible for personal collection must attend by their
+authorized representatives bearing letters of authorization from their
+corporations stamped with the corporations’ chops. Both individuals and
+authorized representatives (if applicable) must produce, at the time of
+collection, evidence of identity acceptable to Tricor Investor Services Limited.
+
+
+--- page 9 ---
+– 11 –
+• Share certificates for Hong Kong Offer Shares allotted to applicants who
+applied for less than 1,000,000 Hong Kong Offer Shares through the HK
+eIPO White Form service, or for Reserved Shares who applied through the
+HK eIPO Blue Form service or on BLUE Application Forms are expected
+to be despatched to those entitled to the addresses specified in the relevant
+application instructions by ordinary post at their own risk on or before
+Monday, July 17, 2023.
+• Share certificates and/or refund cheque(s) for Hong Kong Offer Shares
+allocated to applicants who applied through the HK eIPO White Form
+service, or for Reserved Shares who applied through the HK eIPO Blue Form
+service or on BLUE Application Forms, which are either not available for
+personal collection or which are available but are not collected in person by
+1:00 p.m. on Monday, July 17, 2023 are expected to be despatched by ordinary
+post to those entitled to the addresses specified in the relevant applications at
+their own risk on or before Monday, July 17, 2023.
+• Wholly or partially successful applicants who applied by giving electronic
+application instructions to HKSCC via CCASS will have their share
+certificates issued in the name of HKSCC Nominees Limited and deposited
+into CCASS for credit to their CCASS Investor Participant stock accounts
+or the stock accounts of their designated CCASS Participants who gave
+electronic application instructions on their behalf on Monday, July 17, 2023
+or, on any other date determined by HKSCC or HKSCC Nominees.
+• Applicants who applied through a designated CCASS Participant (other than
+a CCASS Investor Participant) should check the number of Hong Kong Offer
+Shares allocated to them and the amount of refund monies payable to them
+with that CCASS Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic
+application instructions to HKSCC via CCASS should check and report any
+discrepancies to HKSCC before 5:00 p.m. on Monday, July 17, 2023 or such
+other date as shall be determined by HKSCC or HKSCC Nominees. Applicants
+who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS may also check the results of their
+applications and the amount of refund monies (if any) payable to them via the
+CCASS Phone System and the CCASS Internet System (under the procedures
+contained in HKSCC’s “An Operating Guide for Investor Participants” in
+effect from time to time). Immediately following the credit of the Hong Kong
+Offer Shares to the CCASS Investor Participants stock accounts and the
+credit of the refund monies to their respective designated bank account (if
+any), HKSCC will also make available to the CCASS Investor Participants an
+activity statement showing the number of the Hong Kong Offer Shares credited
+to their stock accounts and the amount of refund monies (if any) credited to
+their respective designated bank accounts.
+
+
+--- page 10 ---
+– 12 –
+• Applicants who applied for the Hong Kong Offer Shares through the HK
+eIPO White Form service, or for Reserved Shares who applied through the
+HK eIPO Blue Form service and paid the application monies from a single
+bank account may have refund monies (if any) despatched to their application
+payment account in the form of e-Auto Refund payment instructions on
+Monday, July 17, 2023. Applicants who applied for the Hong Kong Offer
+Shares through the HK eIPO White Form service, or for Reserved Shares
+who applied through the HK eIPO Blue Form service and paid the application
+monies from multiple bank accounts will have refund monies (if any)
+despatched to the addresses specified on their HK eIPO White Form or HK
+eIPO Blue Form applications in the form of refund cheque(s) in favour of
+the applicant (or, in case of joint applications, the first-named applicant), by
+ordinary post at their own risk on or before Monday, July 17, 2023.
+• Refund monies for applicants who have applied by giving electronic
+application instructions to HKSCC via CCASS are expected to be credited
+to their designated bank accounts or the designated bank accounts of their
+brokers or custodians on Monday, July 17, 2023.
+• Share certificates will only become valid at 8:00 a.m. (Hong Kong time)
+on Tuesday, July 18, 2023 provided that the Global Offering has become
+unconditional in all respects at or before that time and neither of the Hong
+Kong Underwriting Agreement nor the International Underwriting Agreement
+is terminated in accordance with its respective terms prior to 8:00 a.m. on
+Tuesday, July 18, 2023.
+• The Company will not issue any temporary documents of title in respect of the
+Offer Shares and will not issue any receipt for application monies received.
+Capitalization Issue
+• As disclosed in the Prospectus, conditional on the share premium account of
+our Company being credited as a result of the Global Offering, our Directors
+are authorized to capitalize HK$3,799,999.99 standing to the credit of the
+share premium account of our Company by applying such sum in paying
+up in full at par 379,999,999 Shares for issue and allotment to holders of
+Shares whose names appear on the register of members of our Company
+(“Capitalization Issue ”) on the date of passing such resolution in proportion
+(as near as possible without involving fractions so that no fraction of a share
+shall be issued and allotted) to their then existing respective shareholdings in
+our Company. Please refer to the section headed “Appendix IV – Statutory and
+general information – A. Further information about our Company – 4. Written
+Resolutions of our sole Shareholder” for further details.
+
+
+--- page 11 ---
+– 13 –
+Public Float
+• The Company confirms that immediately after the completion of the
+Capitalization Issue and the Global Offering (as increased by the Shares to
+be issued immediately after the completion of the Over-allotment Option),
+126,668,000 Shares, representing approximately 25% of the total issued Shares
+upon completion of the Capitalization Issue and the Global Offering will count
+towards the public float for the purpose of Rule 8.08 of the Listing Rules.
+• The Directors confirm that (i) no placee will, individually, be placed more
+than 10% of the enlarged issued Share capital of the Company immediately
+after the Capitalization Issue and the Global Offering; (ii) there will not be any
+new substantial Shareholder (as defined in the Listing Rules) of the Company
+immediately after the Capitalization Issue and 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 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 Listing in compliance with Rule 8.08(2) of the
+Listing Rules.
+Commencement of Dealings in the Shares
+• Assuming that the Global Offering becomes unconditional in all respects at or
+before 8:00 a.m. (Hong Kong time) on Tuesday, July 18, 2023, dealings in the
+Shares on the Main Board of the Stock Exchange are expected to commence at
+9:00 a.m. (Hong Kong time) on Tuesday, July 18, 2023. Shares will be traded
+in board lots of 2,000 Shares each. The stock code of the Shares is 2271.
+In view of the 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 Shares.
+
+
+--- page 12 ---
+– 14 –
+OFFER PRICE
+The Offer Price has been determined at HK$1.18 per Offer Share (excluding brokerage
+of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565%
+and Accounting and Financial Reporting Council transaction levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+The net proceeds from the Global Offering to be received by the Company, after
+deducting the underwriting commissions and other estimated expenses paid and
+payable by the Company in connection with the Global Offering and assuming that
+the Over-allotment Option is not exercised at all, are estimated to be approximately
+HK$91.7 million.
+The Company intends to apply such net proceeds in the following manner:
+(1) approximately 55.0%, or HK$50.4 million, will be used for the strategic
+acquisitions of and investments in property management companies;
+(2) approximately 30.0%, or HK$27.5 million, will be used for investment and
+upgrade in hardware and software for the development of communities across the
+projects we manage; and
+(3) approximately 15.0%, or HK$13.8 million, will be used for enriching the service
+offerings, scale and efficiency of our community value-added services.
+If the Over-allotment Option is exercised in full, the Company will receive additional
+net proceeds of approximately HK$21.7 million for the issue of 19,000,000 additional
+Offer Shares. In such event, the Company will increase the intended use of net
+proceeds on a pro rata basis.
+For further information, please refer to the section headed “Future Plans and Use of
+Proceeds” in the Prospectus.
+
+
+--- page 13 ---
+– 15 –
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE
+HONG KONG PUBLIC OFFERING AND THE PREFERENTIAL OFFERING
+Hong Kong Public Offering
+The Hong Kong Offer Shares initially available under the Hong Kong Public Offering
+have been moderately over-subscribed. At the close of the application lists at 12:00
+noon on Tuesday, July 11, 2023, a total of 1,690 valid applications have been received
+pursuant to the Hong Kong Public Offering through the HK eIPO White Form service
+and through giving electronic application instructions via CCASS for a total of
+23,328,000 Offer Shares, representing approximately 1.84 times the total number of
+12,668,000 Hong Kong Offer Shares initially available for subscription under the Hong
+Kong Public Offering, among which:
+• 1,688 valid applications in respect of a total of 14,328,000 Hong Kong Offer
+Shares were for the Hong Kong Public Offering with an aggregate subscription
+amount based on the Offer Price of HK$1.18 per Hong Kong Offer Share
+(excluding brokerage of 1%, SFC transaction levy of 0.0027%, Accounting and
+Financial Reporting Council transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%) of HK$5 million or less, representing approximately 2.26
+times the 6,334,000 Hong Kong Offer Shares initially comprised in pool A; and
+• 2 valid applications in respect of a total of 9,000,000 Hong Kong Offer Shares
+was for the Hong Kong Public Offering with an aggregate subscription amount
+based on the Offer Price of HK$1.18 per Hong Kong Offer Share (excluding
+brokerage of 1%, SFC transaction levy of 0.0027%, Accounting and Financial
+Reporting Council transaction levy of 0.00015% and the Stock Exchange trading
+fee of 0.00565%) of more than HK$5 million, representing approximately 1.42
+times the 6,334,000 Hong Kong Offer Shares initially comprised in pool B.
+No application has been rejected due to invalid application. No multiple or suspected
+multiple application was identified and rejected. No dishonored payment has been
+identified and rejected. No application for more than 6,334,000 Hong Kong Offer
+Shares (being 50% of the 12,668,000 Hong Kong Offer Shares initially available under
+the Hong Kong Public Offering) has been identified.
+The reallocation procedures as described in the section headed “Structure of the Global
+Offering – Hong Kong Public Offering – Reallocation” in the Prospectus has not been
+applied. The final number of Offer Shares allocated to the Hong Kong Public Offering
+is 12,668,000 Offer Shares, representing 10.0% of the total number of Offer Shares
+initially available under the Global Offering.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally
+allocated on the basis set out in the section headed “Basis of allocation under the Hong
+Kong Public Offering” below.
+
+
+--- page 14 ---
+– 16 –
+Preferential Offering
+At the close of the application lists at 12:00 noon on Tuesday, July 11, 2023, a total of
+19 valid applications for the Reserved Shares pursuant to the Preferential Offering from
+Qualifying Zhong An Shareholders under the HK eIPO Blue Form service and on
+BLUE Application Forms for a total of 659,764 Reserved Shares have been received,
+representing approximately 0.05 times the total number of 12,668,000 Reserved Shares
+initially available under the Preferential Offering. No application has been rejected due
+to invalid applications. 6 multiple applications or suspected multiple applications have
+been identified and rejected. No application has been rejected due to bounced cheque.
+The final number of Reserved Shares allocated to the Preferential Offering is 659,764
+Reserved Shares, representing approximately 0.52% of the Offer Shares initially
+available under the Global Offering. All of the unsold Reserved Shares were made
+available for subscription under the International Offering.
+The Reserved Shares offered in the Preferential Offering were conditionally allocated
+on the basis set out in the section headed “Basis of allocation under the Preferential
+Offering” below.
+INTERNATIONAL OFFERING
+The Offer Shares initially offered under the International Offering have been
+slightly over- subscribed, representing approximately 1.63 times the total number
+of 114,000,000 Offer Shares initially available under the International Offering
+(including 659,764 Reserved Shares under the Preferential Offering) (before any
+exercise of the Over-allotment Option). As the number of Hong Kong Public Offer
+Shares validly subscribed for in the Hong Kong Public Offering represents less
+than 15 times the number of Hong Kong Public Offer Shares initially available for
+subscription under the Hong Kong Public Offering, the Overall Coordinators and the
+Joint Representatives have decided not to exercise their authority to reallocate Offer
+Shares to the Hong Kong Public Offering from the International Offering and make
+available such reallocated Offer Shares as additional Hong Kong Public Offer Shares
+in accordance with guidance letter HKEX-GL91–18 issued by the Stock Exchange,
+and no reallocation procedure as described in “Structure of the Global Offering – The
+Hong Kong Public Offering – Reallocation” in the Prospectus has taken place. The
+final number of International Offer Shares available under the International Offering
+is 113,340,236 Offer Shares, representing 89.5% of the total number of Offer Shares
+initially available under the Global Offering (before any exercise of the Over-allotment
+Option).
+
+
+--- page 15 ---
+– 17 –
+There has been an over-allocation of 19,000,000 Offer Shares in the International
+Offering and there are a total of 130 placees under the International Offering. Among
+130 placees under the International Offering:
+1) a total of 20 placees have been allocated one board lot of Offer Shares or less,
+representing approximately 15.38% of 130 placees under the International
+Offering. These placees have been allotted 40,000 Offer Shares, representing
+approximately 0.0351% of the 114,000,000 Offer Shares initially available under
+the International Offering (before any exercise of the Over-allotment Option);
+2) a total of 27 placees have been allocated two board lot of Offer Shares or less,
+representing approximately 20.77% of 130 placees under the International
+Offering. These placees have been allotted 68,000 Offer Shares, representing
+approximately 0.0596% of the 114,000,000 Offer Shares initially available under
+the International Offering (before any exercise of the Over-allotment Option);
+3) a total of 38 placees have been allocated three board lot of Offer Shares or
+less, representing approximately 29.23% of 130 placees under the International
+Offering. These placees have been allotted 134,000 Offer Shares, representing
+approximately 0.1175% of the 114,000,000 Offer Shares initially available under
+the International Offering (before any exercise of the Over-allotment Option);
+4) a total of 43 placees have been allocated four board lot of Offer Shares or less,
+representing approximately 33.08% of 130 placees under the International
+Offering. These placees have been allotted 174,000 Offer Shares, representing
+approximately 0.1526% of the 114,000,000 Offer Shares initially available under
+the International Offering (before any exercise of the Over-allotment Option); and
+5) a total of 75 placees have been allocated five board lot of Offer Shares or less,
+representing approximately 57.69% of 130 placees under the International
+Offering. These placees have been allotted 494,000 Offer Shares, representing
+approximately 0.4333% of the 114,000,000 Offer Shares initially available under
+the International Offering (before any exercise of the Over-allotment Option).
+
+
+--- page 16 ---
+– 18 –
+PLACEES WITH THE CONSENT UNDER PARAGRAPH 5(1) OF THE
+PLACING GUIDELINES AND PARAGRAPH 4.20 OF THE STOCK
+EXCHANGE GUIDANCE LETTER GL85-16
+Under the International Offering, 17,100,000 Offer Shares, representing approximately
+13.50% of the total number of Offer Shares initially available under the Global
+Offering (assuming the Over-allotment Option is not exercised) and approximately
+3.37% of the total number of issued Shares immediately following the completion of
+the Capitalization Issue and the Global Offering (assuming the Over-allotment Option is
+not exercised), were placed to GTJA Financial Products, which is a connected client of
+GTJAS, one of the Joint Bookrunners and Joint Lead Managers, pursuant to paragraph
+13(7) of the Placing Guidelines. An application has been made to the Stock Exchange
+for, and the Stock Exchange has granted a consent under paragraph 5(1) of the Placing
+Guidelines to permit the Company to allocate Shares in the International Offering to
+the above connected client. The Shares to be placed to GTJA Financial Products is to
+establish hedge positions of the Relevant Offer Shares for the structured notes linked
+to the Relevant Offer Shares to be issued by GTJA Holdings to the Noteholder.
+Acquisition by GTJA Financial Products of the Relevant Offer Shares will be fully
+funded by the Noteholder. GTJA Financial Products will hold the title and the voting
+right of the Relevant Offer Shares but it will not exercise the voting right of the
+Relevant Offer Shares during the tenor of the Note as per its internal policy. GTJA
+Financial Products (via GTJA Holdings) will pass through the economic exposure of
+the Relevant Offer Shares to the Noteholder under the Note. The Note is linked to the
+Relevant Offer Shares and will be settled in cash upon request for redemption from the
+Noteholder. GTJA Financial Products shall redeem the Note (in whole but not in part)
+upon receipt from the Noteholder, a notice to early redeem the Note in accordance with
+the terms and conditions as set out in the Note document.
+
+
+--- page 17 ---
+– 19 –
+To the best knowledge of the Company, the Joint Sponsors, the Overall Coordinators
+and the Joint Representatives, after making all reasonable inquiries, the Noteholder
+and the ultimate beneficial holder of the Note is an Independent Third Party, and
+is not a connected person (as defined in the Listing Rules) of the Company or their
+respective associates (as defined in the Listing Rules) and are in compliance with all
+the conditions under the consent granted by the Stock Exchange.
+GTJA Financial Products has been permitted to participate in the International Offering
+pursuant to paragraph 4.20 of the Stock Exchange Guidance Letter GL85-16 under
+a written consent under paragraph 5(1) of Appendix 6 to the Listing Rules granted
+by the Stock Exchange to permit the Company to allocate Shares in the International
+Offering to the above connected client. Other than the aforementioned, the Directors,
+to the best of its knowledge and information, confirm that, (i) none of the Offer Shares
+subscribed by public Shareholders in the Hong Kong Public Offering and placees
+in the International Offering (including the Preferential Offering) has been financed
+directly or indirectly by the Company, any of the Directors, chief executive, senior
+management, the Controlling Shareholders, substantial Shareholders or existing
+Shareholders of the Company or any of its subsidiaries or their respective close
+associates; (ii) no rebate has been, directly or indirectly, provided by the Company,
+the Directors, chief executive, senior management, the Controlling Shareholders,
+substantial Shareholders, existing Shareholders or syndicate members, or any other
+brokers involved in the Global Offering, to any public Shareholders in the Hong
+Kong Public Offering or placees in the International Offering; (iii) none of the public
+Shareholders in the Hong Kong Public Offering and placees in the International
+Offering (including the Preferential Offering) who has subscribed for the Offer Shares
+is accustomed to taking instructions from the Company, any of the Directors, chief
+executive, senior management, the Controlling Shareholders, substantial Shareholders
+or existing Shareholders of the Company or any of its subsidiaries or their respective
+close associates in relation to the acquisition, disposal, voting or other disposition of
+the Offer Shares registered in his/her/its name or otherwise held by him/her/it; (iv)
+there is no side agreement or arrangement between the Company, any of the Directors,
+chief executive, senior management, the Controlling Shareholders, substantial
+Shareholders, existing Shareholders of the Company or any of its subsidiaries or their
+respective close associates, on one hand, and the public subscribers or the placee
+who has subscribed for the Offer Shares, on the other hand; and (v) the consideration
+payable by the public Shareholders in the Hong Kong Public Offering and placees in
+the International Offering (including the Preferential Offering) for each Offer Share
+subscribed for or purchased by them is the same as the final Offer Price as determined
+by the Company, in addition to brokerage of 1.0%, SFC transaction levy of 0.0027%,
+Accounting and Financial Reporting Council transaction levy of 0.00015% and Stock
+Exchange trading fee of 0.00565%. The International Offering is in compliance with
+the Placing Guidelines.
+
+
+--- page 18 ---
+– 20 –
+Save as disclosed above, to the best knowledge, information and belief of the
+Directors, (i) no Offer Shares placed by or through the Overall Coordinators, the
+Joint Representatives, the Joint Global Coordinators, the Joint Bookrunners, the Joint
+Lead Managers or the Underwriters under the Global Offering have been placed with
+applicants and their respective ultimate beneficial owners who are core connected
+persons (as defined in the Listing Rules) of the Company, the Directors, or to any
+connected clients (as set out in paragraph 5(1) of the Placing Guidelines) or persons
+set out in paragraph 5(2) of the Placing Guidelines, whether in their own names or
+through nominees; (ii) none of the Joint Sponsors, the Overall Coordinators, the Joint
+Representatives, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead
+Managers, the Underwriters and their respective affiliate companies, and the connected
+clients of the lead broker or of any distributors (as defined in the Placing Guidelines)
+has taken up any Offer Share for its own benefits under the Global Offering; and (iii)
+all placees under the International Offering and their ultimate beneficial owners are
+not and are independent of any of the (a) the core connected person (as defined in
+the Listing Rules) of the Company, (b) the Directors or existing Shareholders of the
+Company or any of the Company’s subsidiaries, or (c) the close associates (as defined
+in the Listing Rules) of (a) and/or (b) above, whether in their own names or through
+nominees. The International Offering is in compliance with the Placing Guidelines.
+CORNERSTONE INVESTORS
+Cornerstone Investor
+Investment
+Amount (1)
+Number of
+Offer Shares
+subscribed for (2)
+Approximate %
+of the Offer
+Shares initially
+available under
+the Global
+Offering
+(assuming the
+Over-allotment
+Option is not
+exercised)
+Approximate %
+of the Offer
+Shares initially
+available under
+the Global
+Offering
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+Approximate %
+of the total issued
+Share capital
+of the Company
+immediately
+following the
+completion of the
+Capitalization
+Issue and the
+Global Offering
+(assuming the
+Over-allotment
+Option is not
+exercised)
+Approximate %
+of the total issued
+Share capital
+of the Company
+immediately
+following the
+completion of the
+Capitalization
+Issue and the
+Global Offering
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+Heyuan Trading (Hong Kong)
+Limited (ͫʩਠ൱(ಥ)
+ʮ̡)
+RMB10,000,000
+(equivalent to
+HK$10,989,000) 9,144,000 7.2 6.3 1.8 1.7
+Wu Mingwu (؛HK$10,000,000 8,388,000 6.6 5.8 1.7 1.6
+Total 17,532,000 13.8 12.1 3.5 3.3
+
+
+--- page 19 ---
+– 21 –
+Notes:
+(1) The investment amount is inclusive of brokerage, SFC transaction levy, Stock Exchange trading
+fee and Accounting and Financial Reporting Council transaction levy. For illustrative purpose,
+the investment amount exclusive of the aforementioned fees and transaction levy of Heyuan
+Trading (Hong Kong) Limited and Wu Mingwu is RMB9,899,150 (equivalent to approximately
+HK$10,878,000.) and HK$9,899,150, respectively.
+(2) Subject to rounding down to the nearest whole board lot of 2,000 Shares and calculated based on
+the exchange rate of HK$1.00: RMB0.91 as set out in the section headed “Cornerstone Investor”
+section in the Prospectus.
+Based on the Offer Price of HK$1.18 per Offer Shares (exclusive of brokerage of
+1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565%
+and Accounting and Financial Reporting Council transaction levy of 0.00015%) and
+pursuant to the Cornerstone Investment Agreements, the Cornerstone Investors will be
+allocated with a total of 17,532,000 Offer Shares, representing approximately 13.8%
+of the Offer Shares pursuant to the Global Offering and approximately 3.5% of the
+Shares in issue and the total issued Share capital immediately upon completion of the
+Capitalization Issue and the Global Offering (assuming the Over-allotment Option
+is not exercised). Please refer to the section headed “Cornerstone Investors” in the
+Prospectus for further details of the Cornerstone Investors.
+To the best knowledge of the Directors after making reasonable inquiries, (i) each of
+the Cornerstone Investors is an Independent Third Party; (ii) none of the Cornerstone
+Investors is accustomed to taking instructions from the Company, the Directors, chief
+executive of the Company, Controlling Shareholders, substantial Shareholders, the
+existing Shareholders or any of their subsidiaries or their respective close associates
+in relation to the acquisition, disposal, voting, or other disposition of the Offer Shares;
+and (iii) none of the subscription of the relevant Offer Shares by any of the Cornerstone
+Investors is, financed by the Company, the Directors, chief executive of the Company,
+Controlling Shareholders, substantial Shareholders, the existing Shareholders or any of
+their subsidiaries or their respective close associates. There are no side arrangements
+or agreements between the Company and the Cornerstone Investors by virtue of or in
+relation to the Cornerstone Placing.
+As confirmed by each of the Cornerstone Investors, their subscription under the
+Cornerstone Placing would be financed by their own financial resources and/or
+financial resources of their ultimate beneficial owners. Each of the Cornerstone
+Investors has confirmed that all necessary approvals have been obtained with respect
+to the Cornerstone Placing and that no specific approval from any stock exchange
+(if relevant) or its Shareholders (if relevant) is required for the relevant cornerstone
+investment as each of them has general authority to invest. There will be no delayed
+delivery or deferred settlement of Offer Shares to be subscribed by the Cornerstone
+Investors pursuant to the Cornerstone Investment Agreements and payment for the
+Offer Shares to be subscribed by the Cornerstone Investors will be settled before the
+Listing.
+
+
+--- page 20 ---
+– 22 –
+Each of the Cornerstone Investors has, agreed and undertaken that without the prior
+written consent of the Company, the Joint Sponsors, the Overall Coordinators and the
+Joint Representatives, he/it will not, whether directly or indirectly, at any time during
+the period of six months from the Listing Date (the “ Lock-up Period Restriction ”),
+among other things, dispose of (as defined in the respective Cornerstone Investment
+Agreements) any of the Offer Shares subscribed for by it pursuant to the respective
+Cornerstone Investment Agreements, save for transfers to any of its wholly-owned
+subsidiaries which will be bound by the same obligations of the Cornerstone Investors,
+including the Lock-Up Period Restriction.
+Please refer to the section headed “Cornerstone Investors” in the Prospectus for further
+details relating to the Cornerstone Investors.
+OVER-ALLOTMENT OPTION
+In connection with the Global Offering, the Company has granted to the International
+Underwriters the Over-allotment Option, exercisable in whole or in part by the Overall
+Coordinators and the Joint Representatives (for themselves and on behalf of the other
+International Underwriters), at any time within 30 days after the last day for lodging
+of applications under the Hong Kong Public Offering (the last day for exercise of the
+Over-allotment Option being Thursday, August 10, 2023) to require the Company to
+issue and allot up to 19,000,000 additional Shares, representing approximately 15.0%
+of the total number of Offer Shares initially available under the Global Offering, at the
+Offer Price to cover over-allocations in the International Offering.
+There has been an over-allocation of 19,000,000 Offer Shares in the International
+Offering. Such over-allocation may be covered by exercising the Over-allotment
+Option in full or in part or by making purchases in the secondary market or a
+combination of these means. As of the date of this announcement, the Over-allotment
+Option has not been exercised. In the event the Over-allotment Option is exercised,
+an announcement will be made on the website of the Company at www.zazhsh.com
+and the website of the Stock Exchange at www.hkexnews.hk . As of the date of this
+announcement, the Over-allotment Option has not been exercised.
+
+
+--- page 21 ---
+– 23 –
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure
+of the Global Offering – Conditions of the Global Offering” in the Prospectus,
+1,690 valid applications made by the public through giving electronic application
+instructions to HKSCC via CCASS and through the HK eIPO White Form service
+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
+2,000 1,082 541 out of 1,082 applicants to receive 2,000 Shares 50.00%
+4,000 155 147 out of 155 applicants to receive 2,000 Shares 47.42%
+6,000 156 2,000 Shares plus 65 out of 156 applicants to receive an
+additional 2,000 Shares
+47.22%
+8,000 44 2,000 Shares plus 39 out of 44 applicants to receive an
+additional 2,000 Shares
+47.16%
+10,000 66 4,000 Shares plus 22 out of 66 applicants to receive an
+additional 2,000 Shares
+46.67%
+12,000 14 4,000 Shares plus 11 out of 14 applicants to receive an
+additional 2,000 Shares
+46.43%
+14,000 11 6,000 Shares plus 2 out of 11 applicants to receive an
+additional 2,000 Shares
+45.45%
+16,000 5 6,000 Shares plus 3 out of 5 applicants to receive an
+additional 2,000 Shares
+45.00%
+18,000 8 8,000 Shares 44.44%
+20,000 42 8,000 Shares plus 17 out of 42 applicants to receive an
+additional 2,000 Shares
+44.05%
+30,000 47 12,000 Shares plus 26 out of 47 applicants to receive an
+additional 2,000 Shares
+43.69%
+40,000 7 16,000 Shares plus 5 out of 7 applicants to receive an
+additional 2,000 Shares
+43.57%
+50,000 8 20,000 Shares plus 7 out of 8 applicants to receive an
+additional 2,000 Shares
+43.50%
+60,000 10 24,000 Shares plus 9 out of 10 applicants to receive an
+additional 2,000 Shares
+43.00%
+70,000 7 30,000 Shares 42.86%
+80,000 3 34,000 Shares 42.50%
+90,000 1 38,000 Shares 42.22%
+100,000 14 40,000 Shares plus 7 out of 14 applicants to receive an
+additional 2,000 Shares
+41.00%
+
+
+--- page 22 ---
+– 24 –
+No. of
+Shares
+applied for
+No. of
+valid
+applications Basis of allotment/ballot
+Approximate
+percentage
+allotted of the
+total no. of
+Shares Applied
+for
+200,000 5 80,000 Shares plus 4 out of 5 applicants to receive an
+additional 2,000 Shares
+40.80%
+300,000 1 122,000 Shares 40.67%
+1,000,000 2 400,000 Shares 40.00%
+1,688 Total number of Pool A successful applicants: 1,139
+POOL B
+4,000,000 1 2,816,000 Shares 70.40%
+5,000,000 1 3,518,000 Shares 70.36%
+2 Total number of Pool B successful applicants: 2
+The final number of Offer Shares comprising the Hong Kong Public Offering is
+12,668,000 Offer Shares, representing approximately 10.0% of the total number of
+Offer Shares initially available under the Global Offering (assuming the Over-allotment
+Option is not exercised).
+BASIS OF ALLOCATION UNDER THE PREFERENTIAL OFFERING
+The final number of Reserved Shares allocated to Qualifying Zhong An Shareholders
+in the Preferential Offering is 659,764 Reserved Shares, representing approximately
+0.52% of the Offer Shares initially available under the Global Offering (assuming
+Overall-allotment Option is not exercised). Such 659,764 Reserved Shares have been
+allocated to a total of 19 Qualifying Zhong An Shareholders. Among the Reserved
+Shares allocated, a total of 318,628 Reserved Shares will be allocated to Qualifying
+Zhong An Shareholders as their Assured Entitlement and a total of 341,136 Reserved
+Shares will be allocated to Qualifying Zhong An Shareholders under their valid
+applications for excess Reserved Shares.
+
+
+--- page 23 ---
+– 25 –
+No preferential treatment was given to any of the Qualifying Zhong An Shareholders in
+the allocation of the Reserved Shares applied for by them under the Preferential Offering
+and such allocation of Reserved Shares under the Preferential Offering was made in
+accordance with the allocation basis disclosed in the section headed “Structure of the
+Global Offering – The Preferential Offering – Basis of allocation for applications for
+Reserved Shares” in the Prospectus. Valid applications made by Qualifying Zhong An
+Shareholders for excess Reserved Shares under the HK eIPO Blue Form service and
+on BLUE Application Forms will be conditionally allotted on the basis set out below:
+Preferential Offering
+Number
+of Excess
+Reserved
+Shares
+applied for
+Number of
+Valid Excess
+Applications
+Total number
+of Excess
+Reserved
+Shares
+applied for Basis of allotment
+Total number
+of Reserved
+Shares
+allotted
+Approximate
+percentage
+of allocation
+based on the
+total number
+of Excess
+Reserved
+Shares
+applied for in
+this category
+18 to 247,129 13 341,136 In full 341,136 100.00%
+Total 13 341,136 341,136
+Out of the 19 valid applications for Reserved Shares received pursuant to the
+Preferential Offering as at 12:00 noon on Tuesday, July 11, 2023, all such valid
+applications for a total of 659,764 Reserved Shares have been validly confirmed by
+the Qualifying Zhong An Shareholders, representing (i) approximately 5.21% of the
+total number of 12,668,000 Reserved Shares initially available under the Preferential
+Offering; and (ii) representing approximately 0.52% of the Offer Shares initially
+available under the Global Offering (assuming Over-allotment Option is not exercised).
+12,008,236 un-subscribed Reserved Shares have been reallocated to the International
+Offering.
+
+
+--- page 24 ---
+– 26 –
+LOCK-UP PERIOD RESTRICTIONS
+The Company, the Controlling Shareholders, all the other existing Shareholders and
+the Cornerstone Investors have provided lock-up undertakings and/or are subject to
+Lock-up Period restrictions (the “ Lock-up Period Restrictions ”) in respect of our
+Shares. The major terms of the Lock-up Period Restrictions are set out as follows:
+Name
+Number of Shares
+subject to the
+Lock-up Period
+Restrictions after
+Listing
+Percentage of
+shareholding in the
+Company subject to
+the Lock-up Period
+Restrictions after
+Listing (assuming
+the Over-allotment
+Option is not
+exercised) (1)
+Last day of the
+Lock-up Period
+The Company (subject to lock-up
+obligations pursuant to the Listing
+Rules and the Hong Kong Underwriting
+Agreement)
+N/A N/A January 17, 2024 (1)
+Controlling Shareholders (subject
+to lock-up obligations pursuant to
+the Listing Rules, the Hong Kong
+Underwriting Agreement and lock-up
+undertakings)
+Zhong An BVI (3) 380,000,000 75.0% January 17, 2024
+(First Six-Month
+Period) and July
+17, 2024 (Second
+Six-Month Period) (2)
+Zhong An (3) 380,000,000 75.0% January 17, 2024
+(First Six-Month
+Period) and July
+17, 2024 (Second
+Six-Month Period) (2)
+Whole Good (3) 380,000,000 75.0% January 17, 2024
+(First Six-Month
+Period) and July
+17, 2024 (Second
+Six-Month Period) (2)
+
+
+--- page 25 ---
+– 27 –
+Name
+Number of Shares
+subject to the
+Lock-up Period
+Restrictions after
+Listing
+Percentage of
+shareholding in the
+Company subject to
+the Lock-up Period
+Restrictions after
+Listing (assuming
+the Over-allotment
+Option is not
+exercised) (1)
+Last day of the
+Lock-up Period
+Mr. Shi (3) 380,000,000 75.0% January 17, 2024
+(First Six-Month
+Period) and July
+17, 2024 (Second
+Six-Month Period) (2)
+Cornerstone Investors (subject to lock-up
+obligations pursuant to the Cornerstone
+Investment Agreements)
+Heyuan Trading (Hong Kong) Limited
+(ͫʩਠ൱(ಥ)ʮ̡)
+9,144,000 1.8% January 17, 2024 (4)
+Wu Mingwu (؛8,388,000 1.7% January 17, 2024 (4)
+Notes :
+(1) The Company may not issue Shares prior to the indicated date except otherwise permitted by the
+Listing Rules.
+(2) Pursuant to the Listing Rules and the Hong Kong Underwriting Agreement, the Controlling
+Shareholders stated herein shall not (a) dispose of any of the relevant securities of the Company
+in the First Six-Month Period; (b) dispose of any of the relevant securities of the Company in the
+Second Six-Month Period if immediately following such disposal the Controlling Shareholders
+would cease to be a group of controlling shareholder (as defined in the Listing Rules) of the
+Company. Please refer to section headed “Underwriting – Underwriting Arrangements and
+Expenses” in the Prospectus for further details.
+(3) Zhong An BVI is directly wholly-owned by Zhong An. Zhong An is owned as to approximately
+57.89% by Whole Good, which is directly wholly-owned by Mr. Shi.
+(4) Each of the Cornerstone Investors may dispose of any of the Offer Shares subscribed in the
+Global Offering after the indicated date.
+
+
+--- page 26 ---
+– 28 –
+RESULTS OF ALLOCATIONS
+The final Offer Price, the level of applications in the Hong Kong Public Offering
+and Preferential Offering, the level of indication of interest in the International
+Offering and the basis of allocation of the Hong Kong Offer Shares and Reserved
+Shares, will be available on Monday, July 17, 2023 on the website of the Company at
+www.zazhsh.com and the website of the Stock Exchange at www.hkexnews.hk .
+The results of allocations in the Hong Kong Public Offering and Preferential Offering
+(with successful applicants’ Hong Kong identity card/passport/Hong Kong business
+registration numbers/certificate of incorporation numbers, where appropriate) and the
+number of Hong Kong Offer Shares, successfully applied for, will be made available at
+the times and dates and in the manner set out below:
+(i) in the announcement to be posted on the website of the Company at
+www.zazhsh.com and the website of the Stock Exchange at www.hkexnews .hk
+by no later than 9:00 a.m. on Monday, July 17, 2023;
+(ii) from “IPO Results” function in the IPO App or the designated
+results of allocations website at www.tricor.com.hk/ipo/result or
+www.hkeipo.hk/IPOResult with a “search by ID” function on a 24-hour basis
+from 8:00 a.m. on Monday, July 17, 2023 to 12:00 midnight on Monday, July 24,
+2023; and
+(iii) by telephone enquiry line by calling +852 3691 8488 between 9:00 a.m. and 6:00
+p.m. from Monday, July 17, 2023 to Friday, July 21, 2023 (excluding Saturday or
+public holiday in Hong Kong);
+This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by HK
+eIPO White Form” in this announcement refer to Hong Kong identity card numbers/
+passport numbers/Hong Kong business registration numbers/certificate of incorporation
+numbers/beneficial owner identification codes (if such applications are made by
+nominees as agent for the benefit of another person) whereas those displayed in the
+section headed “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS” in this announcement are provided by CCASS
+Participants via CCASS. Therefore, the identification document numbers shown in the
+two sections are different in nature. Please note that the list of identification document
+numbers set out in this announcement may not be a complete list of successful
+applicants since only successful applicants whose identification document numbers are
+provided to HKSCC by CCASS Participants are disclosed. Applicants with beneficial
+names only but not identification document numbers are not disclosed due to personal
+privacy issue as elaborated below. Applicants who applied for the Hong Kong Offer
+Shares through their brokers can consult their brokers to enquire about their application
+results.
+
+
+--- page 27 ---
+– 29 –
+Since applications are subject to Personal Information Collection Statements,
+beneficial owner identification codes displayed in the sections headed “Results of
+Applications Made by HK eIPO White Form” and “Results of Applications Made by
+Giving Electronic Application Instructions to HKSCC via CCASS” are redacted and
+not all details of applications are disclosed in this announcement.
+SHAREHOLDING CONCENTRATION ANALYSIS
+Set out below is an analysis of Shareholding concentration in the Global Offering.
+• subscription and number of Shares held by the top 1, 5, 10 and 25 of the placees
+out of the International Offer Shares, total Offer Shares and the total issued Share
+capital of the Company upon Listing:
+Placees Subscription
+Shares
+held
+following
+the Global
+Offering
+Subscription
+ as % of
+International
+Offering
+(excluding
+Preferential
+ Offering) (1)
+Subscription
+as % of
+International
+Offering
+(excluding
+Preferential
+Offering) (2)
+Subscription
+as % of total
+Offer Shares (1)
+Subscription
+as % of total
+Offer Shares (2)
+% of total
+issued share
+capital upon
+Listing (1)
+% of total
+issued share
+capital upon
+Listing (2)
+Top 1 32,700,000 32,700,000 28.85% 24.71% 25.82% 22.45% 6.45% 6.22%
+Top 5 86,244,236 86,244,236 76.09% 65.17% 68.09% 59.21% 17.02% 16.41%
+Top 10 114,388,236 114,388,236 100.92% 86.43% 90.31% 78.53% 22.58% 21.76%
+Top 20 123,498,236 123,498,236 108.96% 93.32% 97.50% 84.78% 24.37% 23.49%
+Top 25 125,988,236 125,988,236 111.16% 95.20% 99.46% 86.49% 24.87% 23.97%
+Notes:
+(1) Assuming no exercise of Over-allotment Option.
+(2) Assuming full exercise of Over-allotment Option.
+(3) Total Offer Shares include International Offer Shares and Hong Kong Offer Shares.
+
+
+--- page 28 ---
+– 30 –
+• subscription and number of Shares held by the top 1, 5, 10 and 25 of the
+Shareholders out of the International Offer Shares, total Offer Shares and the total
+issued Share capital of the Company upon Listing:
+Placees Subscription
+Shares held
+following the
+Global
+Offering
+Subscription
+as % of
+International
+Offering
+(excluding
+Preferential
+Offering) (1)
+Subscription
+as % of
+International
+Offering
+(excluding
+Preferential
+Offering) (2)
+Subscription
+as % of total
+Offer Shares (1)
+Subscription
+as % of total
+Offer Shares (2)
+% of total
+issued share
+capital upon
+Listing (1)
+% of total
+issued share
+capital upon
+Listing (2)
+Top 1 – 380,000,000 0.00% 0.00% 0.00% 0.00% 75.00% 72.29%
+Top 5 77,100,236 457,100,236 68.03% 58.26% 60.87% 52.93% 90.22% 86.96%
+Top 10 110,152,236 490,152,236 97.19% 83.23% 86.96% 75.62% 96.74% 93.24%
+Top 20 128,012,236 508,012,236 112.95% 96.73% 101.06% 87.88% 100.27% 96.64%
+Top 25 130,862,236 510,862,236 115.46% 98.88% 103.31% 89.84% 100.83% 97.18%
+Notes:
+(1) Assuming no exercise of Over-allotment Option.
+(2) Assuming full exercise of Over-allotment Option.
+(3) Total Offer Shares include International Offer Shares and Hong Kong Offer Shares.
+In view of the 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 Shares.
diff --git a/data/extracted_text/02429/allotment_results_summary_2023-11-02_2023110200034.txt b/data/extracted_text/02429/allotment_results_summary_2023-11-02_2023110200034.txt
new file mode 100644
index 0000000..24cf842
--- /dev/null
+++ b/data/extracted_text/02429/allotment_results_summary_2023-11-02_2023110200034.txt
@@ -0,0 +1,806 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Final Offer Price
+• The Offer Price has been determined at HK$10.35 per H Share (exclusive of brokerage of
+1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock
+Exchange trading fee of 0.00565%).
+Net Proceeds from the Global Offering
+• At the Offer Price of HK$10.35 per H Share, the net proceeds from the Global Offering to
+be received by the Company, after deduction of the underwriting fees and commissions and
+other estimated expenses payable by the Company in connection with the Global Offering,
+are estimated to be approximately HK$154.9 million. The Company intends to apply such
+net proceeds from the Global Offering in the manner set out in the section headed “Net
+Proceeds from the Global Offering ” in this announcement.
+Applications and Indications of Interest Received in the Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been significantly over-subscribed. A total of 5,308 valid applications have been received
+pursuant to the Hong Kong Public Offering through the HK eIPO White Form service
+and through the CCASS EIPO service for a total of 25,488,500 Hong Kong Offer Shares,
+representing approximately 11.29 times of the total number of 2,258,000 Hong Kong Offer
+Shares initially available for subscription under the Hong Kong Public Offering.
+• As the over-subscription in the Hong Kong Public Offering is less than 15 times, the
+reallocation procedures as described in the section headed “Structure of the Global Offering
+– The Hong Kong Public Offering – Reallocation and Clawback ” in the Prospectus have not
+been applied and no International Offer Shares have been reallocated from the International
+Offering to the Hong Kong Public Offering. The final number of Hong Kong Offer Shares
+under the Hong Kong Public Offering is 2,258,000 H Shares, representing approximately
+10% of the total number of Offer Shares initially available under the Global Offering.
+There are a total number of 1,778 Shareholders who were allocated Offer Shares under the
+Hong Kong Public Offering, among which, 1,547 Shareholders, representing approximately
+87.01% of the Shareholders who were allocated Offer Shares under the Hong Kong Public
+Offering, were allocated with one board lot of the Offer Shares, totaling 773,500 H Shares,
+representing approximately 34.26% of the total Offer Shares under the Hong Kong Public
+Offering.
+
+
+--- page 2 ---
+4
+International Offering
+• The International Offer Shares initially offered under the International Offering have
+been slightly over-subscribed, representing approximately 1.41 times of the total number
+of Offer Shares initially available under the International Offering. The final number
+of International Offer Shares under the International Offering is 20,318,500 H Shares,
+representing approximately 90% of the total number of Offer Shares initially available
+under the Global Offering.
+• There are a total of 143 placees under the International Offering, among which 95 placees,
+representing approximately 66.43% of the total number of placees under the International
+Offering, have been allotted one board lot of Offer Shares, totaling 47,500 H Shares,
+representing approximately 0.23% of the total number of Offer Shares available under the
+International Offering; and 98 placees, representing approximately 68.53% of the total
+number of placees under the International Offering, have been allotted five board lots or
+less of the Offer Shares, totaling 52,000 H Shares, representing approximately 0.26% of the
+total number of Offer Shares available under the International Offering.
+Cornerstone Investors
+• Based on the Offer Price of HK$10.35 per H Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%) and pursuant to the Cornerstone Investment Agreements entered
+into with the Cornerstone Investors as disclosed in the section headed “Cornerstone
+Investors ” in the Prospectus, the Cornerstone Investors have subscribed for a total of
+11,165,500 Offer Shares, representing (i) approximately 1.43% of the total issued share
+capital of the Company immediately upon the completion of the Global Offering; and (ii)
+approximately 49.46% of the number of Offer Shares under the Global Offering.
+• Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further
+details of the Cornerstone Investors.
+
+
+--- page 3 ---
+5
+Confirmations of Public Shareholders in the Hong Kong Public Offering and Placees in the
+International Offering
+• To the best knowledge, information and belief of the Directors, no Offer Shares placed by
+or through the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners,
+the Joint Lead Managers or the Underwriters under the Global Offering have been placed
+to applicants who are core connected persons of the Company, or connected clients (as set
+out in paragraph 5(1) of Appendix 6 to the Listing Rules (the “Placing Guidelines ”), or
+persons set out in paragraph 5(2) of the Placing Guidelines, whether in their own names or
+through nominees. The International Offering is in compliance with the Placing Guidelines.
+• The Directors confirm that, to the best of their knowledge, information and belief, (i)
+none of the Offer Shares subscribed by public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering has been financed directly or indirectly
+by the Company, its Directors, chief executive, the Single Largest Group of Shareholders,
+substantial Shareholders, other existing Shareholders or any of their subsidiaries or their
+respective close associates; (ii) no rebate has been, directly or indirectly, provided by
+the Company, its Directors, chief executive, the Single Largest Group of Shareholders,
+substantial Shareholders, other existing Shareholders or any of their subsidiaries or their
+respective close associates or syndicate members or any other brokers to any public
+Shareholders in the Hong Kong Public Offering or placees in the International Offering;
+(iii) none of the public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering who has subscribed for the Offer Shares is accustomed to taking
+instructions from the Company, its Directors, chief executive, the Single Largest Group
+of Shareholders, substantial Shareholders, other existing Shareholders or any of their
+subsidiaries or their respective close associates in relation to the acquisition, disposal,
+voting or other disposition of the Shares registered in his/her/its name or otherwise held
+by him/her/it; (iv) the consideration payable by the public Shareholders in the Hong Kong
+Public Offering and placees in the International Offering for each Offer Share subscribed
+for or purchased by them is the same as the Offer Price, in addition to brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%; and (v) there is no side agreement or arrangement between
+the Company, its Directors, chief executive, the Single Largest Group of Shareholders,
+substantial Shareholders, other existing Shareholders or any of their subsidiaries or their
+respective close associates or syndicate members or any other brokers, on one hand, and
+the public Shareholders or the placees who have subscribed for the Offer Shares, on the
+other hand.
+• The Directors confirm that, to the best of their knowledge, information and belief, none
+of the placees under the International Offering will be placed more than 10% of the
+enlarged issued share capital of the Company immediately following the completion of
+the Global Offering. Accordingly, the Directors confirm that none of the placees will
+become a substantial Shareholder of the Company immediately following the completion
+of the International Offering, and there will not be any new substantial Shareholder of the
+Company immediately following the completion of the Global Offering.
+Lock-Up Undertakings
+• Each of the Company, the Cornerstone Investors and all existing Shareholders is subject to
+certain lock-up undertakings set out in the section headed “Lock-up Undertakings ” in this
+announcement.
+
+
+--- page 4 ---
+6
+Results of Allocations
+• Results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
+Offering, including the final Offer Price, the level of indications of interest in the
+International Offering, the level of applications in the Hong Kong Public Offering and
+the basis of allocation of the Hong Kong Offer Shares will be published on Thursday,
+November 2, 2023 on the websites of the Stock Exchange at www.hkexnews.hk and the
+Company at www.uboxol.com .
+• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
+Offering successfully applied for through the HK eIPO White Form service or through
+the CCASS EIPO service, including the Hong Kong identity card numbers, passport
+numbers, Hong Kong business registration numbers or certificate of incorporation numbers
+of successful applicants (where applicable) and the number of Hong Kong Offer Shares
+successfully applied for, will be made available at the times and dates and in the manner
+specified below:
+• in the announcement to be posted on the Company ’s website at www.uboxol.com
+and the Stock Exchange ’s website at www.hkexnews.hk on Thursday, November
+2, 2023. Please note that the list of identification document numbers set out in
+this announcement may not be a complete list of successful applicants since only
+successful applicants whose identification document numbers are provided to HKSCC
+by CCASS Participants or via the HK eIPO White Form service are disclosed.
+Applicants with beneficial names only but not identification document numbers are
+not disclosed due to personal privacy issue as elaborated below. Applicants who
+applied for the Hong Kong Offer Shares through their brokers or nominees can
+consult their brokers or nominees to enquire about their application results;
+• from the “IPO Results ” function in the IPO App or the designated results of
+allocations website at www.hkeipo.hk/IPOResult (or www.tricor.com.hk/ipo/result )
+with a “search by ID ” function on a 24-hour basis from 8:00 a.m. on Thursday,
+November 2, 2023 to 12:00 midnight on Wednesday, November 8, 2023; and
+• from the allocation results telephone enquiry by calling +852 3691 8488 between 9:00
+a.m. and 6:00 p.m. from Thursday, November 2, 2023 to Tuesday, November 7, 2023
+(excluding Saturday, Sunday and public holiday in Hong Kong).
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by HK
+eIPO White Form ” in this announcement refer to Hong Kong identity card numbers/
+passport numbers/Hong Kong business registration numbers/certificate of incorporation
+numbers/beneficial owner identification codes (if such applications are made by nominees
+as agent for the benefit of another person), whereas those displayed in the section headed
+“Results of Applications Made by Giving Electronic Application Instructions to HKSCC
+via CCASS ” in this announcement are provided by CCASS Participants via CCASS.
+Therefore, the identification document numbers shown in the two sections are different in
+nature.
+
+
+--- page 5 ---
+7
+• Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications Made
+by HK eIPO White Form ” and “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” are redacted and not all details of
+applications are disclosed in this announcement.
+Despatch/Collection of H Share Certificates and Refund Monies
+• Applicants who applied for 1,000,000 or more Hong Kong Offer Shares through the HK
+eIPO White Form service and who have been wholly or partially successfully allocated
+Hong Kong Offer Shares may collect H Share certificates and/or refund cheques (where
+applicable) in person from the H Share Registrar, Tricor Investor Services Limited, at 17/F,
+Far East Finance Centre, 16 Harcourt Road, Hong Kong from 9:00 a.m. to 1:00 p.m. on
+Thursday, November 2, 2023 or any other place or date as notified by the Company.
+• Applicants being individuals who are eligible for personal collection must not authorize
+any other person to make collection on their behalf. Corporate applicants which are
+eligible for personal collection must attend by their authorized representatives bearing
+letters of authorization from their corporations stamped with the corporations ’ chops. Both
+individuals and authorized representatives (if applicable) must produce, at the time of
+collection, evidence of identity acceptable to Tricor Investor Services Limited.
+• H Share certificates for Hong Kong Offer Shares allotted to applicants who applied through
+the HK eIPO White Form service which are either not available for personal collection
+(including applicants who applied for less than 1,000,000 Hong Kong Offer Shares through
+the HK eIPO White Form service) or which are available but are not collected in person
+by 1:00 p.m. on Thursday, November 2, 2023 are expected to be despatched by ordinary
+post to the addresses specified in the relevant applications at their own risk on or before
+Thursday, November 2, 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their H Share certificates issued in the name
+of HKSCC Nominees Limited and deposited directly into CCASS for credit to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participant who gave electronic application instructions on their behalf on Thursday,
+November 2, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them and the amount of refund monies payable to them with that CCASS Participant.
+
+
+--- page 6 ---
+8
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
+before 5:00 p.m. on Thursday, November 2, 2023 or such other date as shall be determined
+by HKSCC or HKSCC Nominees. Applicants who applied as a CCASS Investor Participant
+by giving electronic application instructions to HKSCC via CCASS may also check
+the results of their applications and the amount of refund monies payable to them via the
+CCASS Phone System and the CCASS Internet System (under the procedures contained
+in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time to time).
+Immediately after the crediting of the Hong Kong Offer Shares to the CCASS Investor
+Participants stock accounts and the crediting of the refund monies to their respective
+designated bank account, HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the number of Hong Kong Offer Shares credited
+to their stock accounts and the amount of refund monies (if any) credited to their respective
+designated bank accounts.
+• Applicants who applied through the HK eIPO White Form service and paid the application
+monies through a single bank account will have refund monies (if any) despatched to their
+application payment bank account in the form of e-Auto Refund payment instructions on
+or before Thursday, November 2, 2023. Applicants who applied through the HK eIPO
+White Form service and paid the application monies through multiple bank accounts will
+have refund monies (if any) despatched to the addresses specified in their application
+instructions to HK eIPO White Form Service Provider, in the form of refund cheque(s) in
+favour of the applicant (or, in the case of joint applications, the first-named applicant), by
+ordinary post at their own risk on or before Thursday, November 2, 2023.
+• Refund monies (if any) for applicants who applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to their designated bank
+accounts or the designated bank accounts of their brokers or custodians on Thursday,
+November 2, 2023.
+• H Share certificates will only become valid evidence of title at 8:00 a.m. (Hong Kong time)
+on Friday, November 3, 2023 provided that the Global Offering has become unconditional
+in all respects at or before that time and the right of termination described in the section
+headed “Underwriting – Underwriting Arrangements and Expenses – Hong Kong Public
+Offering – Hong Kong Underwriting Agreement – Grounds for Termination ” in the
+Prospectus has not been exercised.
+• The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+Public Float
+• Immediately following the completion of the Global Offering, 378,066,667 H Shares,
+representing approximately 48.5% of the Company ’s issued Shares, will be held by the
+public. Accordingly, the number of Shares in public hands represents no less than 25% of
+the total issued Shares of the Company as required under Rule 8.08(1)(a) of the Listing
+Rules. The Directors confirm that (i) the three largest public Shareholders do not hold more
+than 50% of the Shares held in public hands at the time of the Listing in compliance with
+Rule 8.08(3) of the Listing Rules and (ii) there will be at least 300 Shareholders at the time
+of the Listing in compliance with Rule 8.08(2) of the Listing Rules.
+
+
+--- page 7 ---
+9
+Commencement of Dealings
+• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
+a.m. on Friday, November 3, 2023 (Hong Kong time), dealings in the H Shares on the Main
+Board of the Stock Exchange are expected to commence at 9:00 a.m. on Friday, November
+3, 2023 (Hong Kong time). The H Shares will be traded in board lots of 500 H Shares each.
+The stock code of the Shares is 2429.
+• In view of the high concentration of shareholding in a small number of Shareholders,
+Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of H Shares traded, and should
+exercise extreme caution when dealing in the H Shares.
+OFFER PRICE
+The Offer Price has been determined at HK$10.35 per H Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
+fee of 0.00565%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+At the Offer Price of HK$10.35 per H Share, the net proceeds from the Global Offering to be
+received by the Company, after deduction of the underwriting fees and commissions and other
+estimated expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$154.9 million.
+The Company intends to apply such net proceeds as follows:
+(a) approximately 80% of the net proceeds, or approximately HK$124.0 million, will be used
+for expanding the coverage and penetration of our POS network in tier one, new tier one, tier
+two and tier three cities in mainland China;
+(b) approximately 5.0% of the net proceeds, or approximately HK$7.7 million, will be used
+for further developing our operation capabilities and enhancing our warehouse inventory
+management capabilities by building or upgrading our warehouses and/or logistics systems
+across mainland China;
+(c) approximately 7.0%, or HK$10.8 million, will be used for enhancing our technologies in our
+operation systems and vending machines through hardware upgrade, software enhancement
+and recruitment of talents; and
+(d) approximately 8.0%, or HK$12.4 million, for working capital and other general corporate
+purposes.
+To the extent that the net proceeds from the Global Offering are not immediately used for the
+purposes described above and to the extent permitted by the relevant laws and regulations, they
+will be placed in short-term interest-bearing accounts at licensed banks and/or authorized financial
+institutions in Hong Kong and mainland China (as defined under the SFO, the Law of the People ’s
+Republic of China on Commercial Banks (جand other relevant PRC
+Law) so long as it is deemed to be in the best interests of the Company. The Company will issue an
+appropriate announcement if there is any material change to the above proposed use of proceeds.
+
+
+--- page 8 ---
+10
+For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
+the Prospectus.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
+significantly over-subscribed. A total of 5,308 valid applications have been received pursuant to the
+Hong Kong Public Offering through the HK eIPO White Form service and through the CCASS
+EIPO service for a total of 25,488,500 Hong Kong Offer Shares, representing approximately 11.29
+times of the total number of 2,258,000 Hong Kong Offer Shares initially available for subscription
+under the Hong Kong Public Offering, among which:
+• 5,292 valid applications in respect of a total of 15,759,500 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with a total subscription price of HK$5 million or less at
+the Offer Price of HK$11.40 per H Share (exclusive of brokerage of 1.0%, SFC transaction
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
+0.00565%), representing approximately 13.96 times of the 1,129,000 Hong Kong Offer
+Shares initially comprised in Pool A of the Hong Kong Public Offering; and
+• 16 valid applications in respect of a total of 9,729,000 Hong Kong Offer Shares were for
+the Hong Kong Public Offering with a total subscription price of more than HK$5 million at
+the Offer Price of HK$11.40 per H Share (exclusive of brokerage of 1.0%, SFC transaction
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
+0.00565%), representing approximately 8.62 times of the 1,129,000 Hong Kong Offer Shares
+initially comprised in Pool B of the Hong Kong Public Offering.
+No application has been rejected due to invalid application. Two multiple or suspected multiple
+applications have been identified and rejected. No application has been rejected due to dishonored
+payment. No application for more than 1,129,000 Hong Kong Offer Shares (being 50% of the Hong
+Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
+As the over-subscription in the Hong Kong Public Offering is less than 15 times, the reallocation
+procedures as described in the section headed “Structure of the Global Offering – The Hong
+Kong Public Offering – Reallocation and clawback ” in the Prospectus have not been applied
+and no International Offer Shares have been reallocated from the International Offering to the
+Hong Kong Public Offering. The final number of Hong Kong Offer Shares under the Hong Kong
+Public Offering is 2,258,000 H Shares, representing approximately 10% of the total number of
+Offer Shares initially available under the Global Offering. There are a total number of 1,778
+Shareholders who were allocated Offer Shares under the Hong Kong Public Offering, among
+which, 1,547 Shareholders, representing approximately 87.01% of the Shareholders who were
+allocated Offer Shares under the Hong Kong Public Offering, were allocated with one board lot of
+the Offer Shares, totaling 773,500 H Shares, representing approximately 34.26% of the total Offer
+Shares under the Hong Kong Public Offering.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offering ”
+below.
+
+
+--- page 9 ---
+11
+INTERNATIONAL OFFERING
+The International Offer Shares initially offered under the International Offering have been slightly
+over-subscribed, representing approximately 1.41 times of the total number of Offer Shares
+initially available under the International Offering. The final number of International Offer Shares
+under the International Offering is 20,318,500 H Shares, representing approximately 90% of the
+total number of Offer Shares initially available under the Global Offering.
+There are a total of 143 placees under the International Offering, among which 95 placees,
+representing approximately 66.43% of the total number of placees under the International
+Offering, have been allotted one board lot of Offer Shares, totaling 47,500 H Shares, representing
+approximately 0.23% of the total number of Offer Shares available under the International
+Offering; and 98 placees, representing approximately 68.53% of the total number of placees under
+the International Offering, have been allotted five board lots or less of the Offer Shares, totaling
+52,000 H Shares, representing approximately 0.26% of the total number of Offer Shares available
+under the International Offering.
+Cornerstone Investors
+At the Offer Price of HK$10.35 per H Share (exclusive of brokerage of 1.0%, SFC transaction levy
+of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%)
+and pursuant to the Cornerstone Investment Agreements entered into with the Cornerstone
+Investors as disclosed in the section headed “Cornerstone Investors ” in the Prospectus, the number
+of Offer Shares subscribed for by the Cornerstone Investors is set out below:
+Cornerstone Investor Investment amount (1)
+Number of
+Offer Shares
+Subscribed (2)
+Approximate
+% of the
+International
+Offer Shares
+Approximate
+% of total
+number of
+Offer Shares
+Approximate
+% of
+H Shares
+in issue
+Approximate
+% of issued
+share capital
+Nayuki Holdings Limited
+ ( “Nayuki ”) HK$61.90 million 5,981,000 29.44% 26.49% 0.94% 0.77%
+SensePower Management
+ Limited ( “SensePower ”) HK$27.24 million 2,631,500 12.95% 11.66% 0.41% 0.34%
+Mr. Wei Jinbin (ж)
+ ( “Mr. Wei ”) HK$15.64 million 1,511,000 7.44% 6.69% 0.24% 0.19%
+Shenzhen Maliujia Network
+ Technology Co., Ltd.
+ (Ҧ
+ ʮ̡ ) (“MLJ”) HK$10.78 million 1,042,000 5.13% 4.62% 0.16% 0.13%
+Total HK$115.56 million 11,165,500 54.96% 49.46% 1.75% 1.43%
+Notes:
+(1) The investment amount is exclusive of brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction
+levy of 0.00015% and Stock Exchange trading fee of 0.00565% to be paid by the Cornerstone Investors in
+respect of such H Shares.
+(2) The actual number of Offer Shares varied from the disclosure in the Prospectus due to the actual exchange rate
+used for subscription according to the relevant Cornerstone Investment Agreements. The number of Offer Shares
+subscribed is rounded down to the nearest whole board lot of 500 H Shares.
+
+
+--- page 10 ---
+12
+To the best knowledge of the Company, save for Nayuki (a company whose shares are listed on
+the Stock Exchange (stock code: 2150)) and SensePower (an indirect wholly-owned subsidiary of
+SenseTime Group Inc., a company whose Class B shares are listed on the Stock Exchange (stock
+code: 0020)), none of the Cornerstone Investors or their respective controlling entity is listed on
+any stock exchange. Each of the Cornerstone Investors has confirmed that all necessary approvals
+have been obtained with respect to the Cornerstone Placing and that no specific approval from any
+stock exchange (if relevant) or its shareholders is required for the relevant cornerstone investment
+as each of them has general authority to invest.
+Save as disclosed above, to the best knowledge of the Company, (i) each of the Cornerstone
+Investors (and, for Cornerstone Investor(s) who will subscribe for the Offer Shares through
+QDIIs, such QDIIs) is an independent third party; (ii) none of the Cornerstone Investors (and, for
+Cornerstone Investor(s) who will subscribe for the Offer Shares through QDIIs, such QDIIs) is
+accustomed to take instructions from the Company, the Directors, chief executive of the Company,
+the Single Largest Group of Shareholders, substantial Shareholders or other existing Shareholders
+or any of its subsidiaries or their respective close associates in relation to the acquisition, disposal,
+voting, or other disposition of H Shares registered in its name or otherwise held by it; and (iii)
+none of the subscription for the relevant Offer Shares by the Cornerstone Investors (and, for
+Cornerstone Investor(s) who will subscribe for the Offer Shares through QDIIs, such QDIIs) is
+financed by the Company, the Directors, chief executive of the Company, the Single Largest Group
+of Shareholders, substantial Shareholders or other existing Shareholders or any of its subsidiaries
+or their respective close associates for the purpose of subscription of the Offer Shares.
+As confirmed by each of the Cornerstone Investors, their subscription under the Cornerstone
+Placing would be financed by their own internal resources. There are no side agreements or
+arrangements between the Company and the Cornerstone Investors or any benefit, direct or
+indirect, conferred on the Cornerstone Investors by virtue of or in relation to the Cornerstone
+Placing, other than a guaranteed allocation of the relevant Offer Shares at the Offer Price.
+All of the Cornerstone Investors will pay and settle in full for the relevant Offer Shares that they
+have subscribed before dealings in the Offer Shares commence on the Stock Exchange. As such,
+there will be no deferred settlement of payment of the investment amounts. Since there is no
+over-allotment option in the International Offering, there will be no delayed delivery or delayed
+settlement of the Offer Shares to be subscribed by the Cornerstone Investors.
+Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at
+any time during the period of twelve months from and including the Listing Date (the “Lock-up
+Period ”), dispose of any of the Offer Shares they have purchased pursuant to the relevant
+Cornerstone Investment Agreements, save for certain limited circumstances, such as transfers
+to any of its wholly-owned subsidiaries who will be bound by the same obligations of such
+Cornerstone Investor, including the Lock-up Period restriction.
+Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further details of
+the Cornerstone Investors.
+
+
+--- page 11 ---
+13
+CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
+OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
+To the best knowledge, information and belief of the Directors, no Offer Shares placed by or
+through the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint
+Lead Managers or the Underwriters under the Global Offering have been placed to applicants who
+are core connected persons of the Company, or connected clients (as set out in paragraph 5(1) of
+the Placing Guidelines), or persons set out in paragraph 5(2) of the Placing Guidelines, whether in
+their own names or through nominees. The International Offering is in compliance with the Placing
+Guidelines.
+The Directors confirm that, to the best of their knowledge, information and belief, (i) none of the
+Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering and placees in
+the International Offering has been financed directly or indirectly by the Company, its Directors,
+chief executive, substantial Shareholders, existing Shareholders or any of their subsidiaries or
+their respective close associates; (ii) no rebate has been, directly or indirectly, provided by the
+Company, its Directors, chief executive, substantial Shareholders, existing Shareholders or any of
+their subsidiaries or their respective close associates or syndicate members or any other brokers
+to any public Shareholders in the Hong Kong Public Offering or placees in the International
+Offering; (iii) none of the public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering who has subscribed for the Offer Shares is accustomed to taking instructions
+from the Company, its Directors, chief executive, substantial Shareholders, existing Shareholders
+or any of their subsidiaries or their respective close associates in relation to the acquisition,
+disposal, voting or other disposition of the Shares registered in his/her/its name or otherwise held
+by him/her/it; (iv) the consideration payable by the public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering for each Offer Share subscribed for or purchased
+by them is the same as the Offer Price, in addition to brokerage of 1.0%, SFC transaction levy of
+0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%; and
+(v) there is no side agreement or arrangement between the Company, its Directors, chief executive,
+substantial Shareholders, existing Shareholders or any of their subsidiaries or their respective close
+associates or syndicate members or any other brokers, on one hand, and the public Shareholders or
+the placees who have subscribed for the Offer Shares, on the other hand.
+The Directors confirm that, to the best of their knowledge, information and belief, none of the
+placees under the International Offering will be placed more than 10% of the enlarged issued
+share capital of the Company immediately following the completion of the Global Offering.
+Accordingly, the Directors confirm that none of the placees will become a substantial Shareholder
+of the Company immediately following the completion of the International Offering, and there will
+not be any new substantial Shareholder of the Company immediately following the completion of
+the Global Offering.
+
+
+--- page 12 ---
+14
+LOCK-UP UNDERTAKINGS
+Each of the Company, the Single Largest Group of Shareholders, the Cornerstone Investors and
+other existing Shareholders has given certain lock-up undertakings in relation to the issue and
+disposal of Shares (the “Lock-up Undertakings ”). The major terms of the Lock-up Undertakings
+are set out as follows:
+Name
+Number of
+Shares subject
+to the Lock-up
+Undertakings
+upon Listing
+Approximate
+percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing
+Last day subject to the
+Lock-up Undertakings
+The Company
+(subject to lock-up obligations pursuant to the Listing Rules and the Hong Kong Underwriting Agreement)
+N/A N/A May 2, 2024 (1)
+(First Six-Month Period)
+November 2, 2024 (1)
+(Second Six-Month Period)
+The Single Largest Group of Shareholders and the existing Shareholders
+(subject to lock-up obligations pursuant to the Listing Rules, the Hong Kong Underwriting Agreement and applicable PRC
+laws and regulations)
+Mr. Wang Bin 94,901,170 12.17% November 2, 2024 (2)
+Mr. Chen Kunrong 30,949,306 3.97% November 2, 2024 (2)
+Other existing Shareholders (3)
+(subject to lock-up obligations pursuant to applicable PRC laws and regulations)
+631,408,457 80.97% November 2, 2024 (2)
+Cornerstone Investors
+(subject to lock-up obligations pursuant to the Cornerstone Investment Agreements)
+Nayuki 5,981,000 0.77% November 2, 2024 (2)
+SensePower 2,631,500 0.34% November 2, 2024 (2)
+Mr. Wei 1,511,000 0.19% November 2, 2024 (2)
+MLJ 1,042,000 0.13% November 2, 2024 (2)
+Notes:
+(1) The Company may not, among others, issue or agree to issue or publicly announce its intention to issue Shares
+or securities of the Company during the First Six-Month Period except for the issue of the Shares pursuant to
+the Global Offering, the Conversion of Unlisted Shares into H Shares upon completion of the Global Offering
+and the issue of any Shares pursuant to the Pre-IPO Incentive Scheme or as otherwise with the prior written
+consent of the Joint Sponsors and Overall Coordinators (for themselves and on behalf of the Hong Kong
+Underwriters) and unless in compliance with the Listing Rules. In the event the Company does so during the
+Second Six-Month Period, the Company will take all reasonable steps to ensure that such action will not create
+a disorderly or false market in any of the securities of the Company. For details of the lock-up arrangements of
+the Company, please refer to the paragraphs headed “Underwriting { Undertakings Pursuant to the Hong Kong
+Underwriting Agreement { Undertakings by our Company ” in the Prospectus.
+(2) The Shareholder(s) and Cornerstone Investor(s) may dispose of or transfer Shares without any lock-up
+obligation after the indicated date.
+(3) For identities and details of other existing Shareholders, see the section headed “History and Development ” in
+the Prospectus.
+
+
+--- page 13 ---
+15
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the section headed “Structure of the Global
+Offering – Conditions of the Global Offering ” in the Prospectus, 5,308 valid applications made
+by the public through the HK eIPO White Form service and the CCASS EIPO service will be
+conditionally allocated on the basis set out below:
+BASIS OF ALLOTMENT UNDER THE HONG KONG PUBLIC OFFERING
+Pool A
+Number of
+H Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of
+the total
+ number of
+H Shares
+applied for
+500 3,603 541 out of 3,603 applicants to receive 500 H Shares 15.02%
+1,000 224 66 out of 224 applicants to receive 500 H Shares 14.73%
+1,500 66 29 out of 66 applicants to receive 500 H Shares 14.65%
+2,000 64 35 out of 64 applicants to receive 500 H Shares 13.67%
+2,500 88 55 out of 88 applicants to receive 500 H Shares 12.50%
+3,000 40 27 out of 40 applicants to receive 500 H Shares 11.25%
+3,500 16 11 out of 16 applicants to receive 500 H Shares 9.82%
+4,000 736 566 out of 736 applicants to receive 500 H Shares 9.61%
+4,500 16 13 out of 16 applicants to receive 500 H Shares 9.03%
+5,000 121 101 out of 121 applicants to receive 500 H Shares 8.35%
+6,000 25 500 H Shares 8.33%
+7,000 8 500 H Shares plus 1 out of 8 applicants to
+ receive an additional 500 H Shares
+8.04%
+8,000 32 500 H Shares plus 7 out of 32 applicants to
+ receive an additional 500 H Shares
+7.62%
+9,000 7 500 H Shares plus 2 out of 7 applicants to
+ receive an additional 500 H Shares
+7.14%
+10,000 45 500 H Shares plus 18 out of 45 applicants to
+ receive an additional 500 H Shares
+7.00%
+15,000 100 500 H Shares plus 86 out of 100 applicants to
+ receive an additional 500 H Shares
+6.20%
+20,000 12 1,000 H Shares 5.00%
+25,000 16 1,000 H Shares plus 5 out of 16 applicants to
+ receive an additional 500 H Shares
+4.63%
+30,000 7 1,000 H Shares plus 5 out of 7 applicants to
+ receive an additional 500 H Shares
+4.52%
+35,000 6 1,500 H Shares 4.29%
+40,000 6 1,500 H Shares plus 2 out of 6 applicants to
+ receive an additional 500 H Shares
+4.17%
+45,000 3 1,500 H Shares plus 2 out of 3 applicants to
+ receive an additional 500 H Shares
+4.07%
+50,000 8 2,000 H Shares 4.00%
+
+
+--- page 14 ---
+16
+Pool A
+Number of
+H Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of
+the total
+ number of
+H Shares
+applied for
+60,000 4 2,000 H Shares plus 3 out of 4 applicants to
+ receive an additional 500 H Shares
+3.96%
+70,000 3 2,500 H Shares 3.57%
+80,000 6 2,500 H Shares plus 3 out of 6 applicants to
+ receive an additional 500 H Shares
+3.44%
+90,000 5 3,000 H Shares 3.33%
+100,000 16 3,000 H Shares plus 10 out of 16 applicants to
+ receive an additional 500 H Shares
+3.31%
+200,000 6 5,500 H Shares 2.75%
+300,000 2 8,000 H Shares 2.67%
+400,000 1 10,500 H Shares 2.63%
+Total 5,292 Total number of Pool A successful applicants:
+ 1,762
+Pool B
+Number of
+H Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of
+the total
+number of
+H Shares
+applied for
+500,000 11 59,000 H Shares 11.80%
+600,000 1 69,000 H Shares 11.50%
+700,000 1 80,000 H Shares 11.43%
+800,000 1 90,500 H Shares 11.31%
+1,000,000 1 113,000 H Shares 11.30%
+1,129,000 1 127,500 H Shares 11.29%
+Total 16 Total number of Pool B successful applicants: 16
+
+
+--- page 15 ---
+17
+RESULTS OF ALLOCATIONS
+Results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering,
+including the final Offer Price, the level of indications of interest in the International Offering,
+the level of applications in the Hong Kong Public Offering and the basis of allocation of the Hong
+Kong Offer Shares will be published on Thursday, November 2, 2023 on the websites of the Stock
+Exchange at www.hkexnews.hk and the Company at www.uboxol.com .
+The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the HK eIPO White Form service or through the CCASS EIPO
+service, including the Hong Kong identity card numbers, passport numbers, Hong Kong business
+registration numbers or certificate of incorporation numbers of successful applicants (where
+applicable) and the number of Hong Kong Offer Shares successfully applied for, will be made
+available at the times and dates and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.uboxol.com and the
+Stock Exchange ’s website at www.hkexnews.hk on Thursday, November 2, 2023. Please
+note that the list of identification document numbers set out in this announcement may
+not be a complete list of successful applicants since only successful applicants whose
+identification document numbers are provided to HKSCC by CCASS Participants or via the
+HK eIPO White Form service are disclosed. Applicants with beneficial names only but not
+identification document numbers are not disclosed due to personal privacy issue as elaborated
+below. Applicants who applied for the Hong Kong Offer Shares through their brokers or
+nominees can consult their brokers or nominees to enquire about their application results;
+• from the “IPO Results ” function in the IPO App or the designated results of allocations
+website at www.hkeipo.hk/IPOResult (or www.tricor.com.hk/ipo/result ) with a “search
+by ID ” function on a 24-hour basis from 8:00 a.m. on Thursday, November 2, 2023 to 12:00
+midnight on Wednesday, November 8, 2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between 9:00
+a.m. and 6:00 p.m. from Thursday, November 2, 2023, to Tuesday, November 7, 2023
+(excluding Saturday, Sunday and public holiday in Hong Kong).
+
+
+--- page 16 ---
+18
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White Form ”
+in this announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner identification
+codes (if such applications are made by nominees as agent for the benefit of another person),
+whereas those displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS
+Participants via CCASS. Therefore, the identification document numbers shown in the two sections
+are different in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK eIPO
+White Form ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the Global Offering is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee Subscription
+Number of
+H Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares
+Subscription
+as % of total
+Offer Shares
+Number of
+H Shares
+as % of total
+H Shares
+Number of
+Shares as %
+of total Shares
+upon Listing
+Top 1 5,981,000 5,981,000 5,981,000 29.44% 26.49% 0.94% 0.77%
+Top 5 11,976,500 11,976,500 11,976,500 58.94% 53.05% 1.88% 1.54%
+Top 10 14,331,000 14,331,000 14,331,000 70.53% 63.48% 2.25% 1.84%
+Top 20 17,811,000 17,811,000 17,811,000 87.65% 78.89% 2.80% 2.28%
+Top 25 19,126,000 19,126,000 19,126,000 94.13% 84.71% 3.00% 2.45%
+• Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Shareholder Subscription
+Number of
+H Shares held
+upon Listing (1)
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares
+Subscription
+as % of total
+Offer Shares
+Number of
+H Shares
+as % of total
+H Shares (1)
+Number of
+Shares as %
+of total Shares
+upon Listing (1)
+Top 1 – 125,850,476 166,522,406 – – 19.77% 21.35%
+Top 5 – 294,271,149 419,947,723 – – 46.22% 53.85%
+Top 10 – 392,560,404 524,486,978 – – 61.66% 67.26%
+Top 20 5,981,000 476,049,377 607,975,951 29.44% 26.49% 74.78% 77.96%
+Top 25 5,981,000 500,478,977 632,405,551 29.44% 26.49% 78.62% 81.09%
+Note:
+1. Save as the 5,981,000 H Shares subscribed by a cornerstone investor, the other H Shares as shown in this
+table represents the H Shares to be converted from domestic Shares upon Listing.
+
+
+--- page 17 ---
+19
+• Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company upon Listing:
+H Shareholder Subscription
+Number of
+H Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares
+Subscription
+as % of total
+Offer Shares
+Number of
+H Shares
+as % of total
+H Shares
+Number of
+Shares as %
+of total Shares
+upon Listing
+Top 1 – 126,315,789 126,315,789 – – 19.84% 16.20%
+Top 5 – 346,493,372 387,165,302 – – 54.43% 49.65%
+Top 10 – 416,448,204 463,370,134 – – 65.42% 59.42%
+Top 20 5,981,000 486,299,377 533,221,307 29.44% 26.49% 76.39% 68.38%
+Top 25 5,981,000 507,848,840 554,770,770 29.44% 26.49% 79.77% 71.14%
+In view of the high concentration of shareholding in a small number of Shareholders,
+Shareholders and prospective investors should be aware that the price of the H Shares could
+move substantially even with a small number of H Shares traded, and should exercise extreme
+caution when dealing in the H Shares.
diff --git a/data/extracted_text/02451/allotment_results_summary_2023-10-11_2023101100036.txt b/data/extracted_text/02451/allotment_results_summary_2023-10-11_2023101100036.txt
new file mode 100644
index 0000000..9143407
--- /dev/null
+++ b/data/extracted_text/02451/allotment_results_summary_2023-10-11_2023101100036.txt
@@ -0,0 +1,948 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND
+ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+• The final Offer Price has been determined at HK$7.37 per Offer Share (exclusive of
+brokerage of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of
+0.00565% and AFRC transaction levy of 0.00015%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$7.37 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and other estimated expenses paid and payable by the Company in relation to
+the Global Offering, are estimated to be approximately HK$706.4 million. The Company
+intends to use the net proceeds from the Global Offering in the manner as set out in the
+section headed “Net Proceeds from the Global Offering ” in this announcement.
+Applications and Indications of Interest Received in the Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been slightly over-subscribed. A total of 5,104 valid applications have been received
+pursuant to the Hong Kong Public Offering through the HK eIPO White Form service
+and through the CCASS EIPO service for a total of 81,761,000 Hong Kong Offer Shares,
+representing approximately 7.66 times of the total number of 10,667,000 Hong Kong Offer
+Shares initially available for subscription under the Hong Kong Public Offering.
+• As the over-subscription in the Hong Kong Public Offering represents less than 15 times
+the number of the Offer Shares initially available for subscription under the Hong Kong
+Public Offering, no reallocation procedure as disclosed in the section headed “Structure of
+the Global Offering { The Hong Kong Public Offering { Reallocation ” in the Prospectus
+has been applied and no Offer Shares have been reallocated from the International Offering
+to the Hong Kong Public Offering. The final number of Offer Shares under the Hong Kong
+Public Offering is 10,667,000 Shares, representing approximately 10% of the total number
+of Offer Shares initially available under the Global Offering, and being allocated to 4,483
+successful applicants under the Hong Kong Public Offering, 3,125 of which have been
+allocated one board lot of Shares totaling 1,562,500 Shares, representing approximately
+14.65% of total Offer Shares under the Hong Kong Public Offering.
+
+
+--- page 2 ---
+4
+International Offering
+• The Offer Shares initially offered under the International Offering have been slightly over-
+subscribed, representing approximately 1.13 times of the total number of Offer Shares
+initially available under the International Offering. The final number of Offer Shares under
+the International Offering is 96,000,000 Shares, representing approximately 90% of the
+total number of Offer Shares initially available under the Global Offering.
+• There are a total of 134 placees under the International Offering, among which 118 placees,
+representing approximately 88.06% of the total number of placees under the International
+Offering, have been allotted five or fewer board lots of Offer Shares, totalling 59,000
+Shares, representing approximately 0.06% of the total number of the Offer Shares available
+under the International Offering. A total of 118 placees have been allotted one board lot of
+Offer Shares, totaling 59,000 Shares, representing approximately 0.06% of the total number
+of the Offer Shares available under the International Offering.
+Cornerstone Investors
+• Based on the Offer Price of HK$7.37 per Offer Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%) and pursuant to the Cornerstone Investment Agreements, the
+Cornerstone Investors have subscribed for a total of 60,196,500 Offer Shares, representing
+(a) approximately 56.43% of the number of Offer Shares pursuant to the Global Offering
+and (b) approximately 14.11% of the Shares in issue immediately following completion of
+the Global Offering (without taking into account any Shares which may be issued under the
+Post-IPO Share Scheme). Please refer to the section headed “Cornerstone Investors ” in the
+Prospectus for further details of the Cornerstone Investors.
+Connected Client Placee with Consent under the Placing Guidelines
+• We have applied to the Stock Exchange for, and the Stock Exchange has granted
+us, a consent under paragraph 5(1) of Appendix 6 to the Listing Rules (the “Placing
+Guidelines ”) to permit the Company to allocate Offer Shares in the Global Offering to the
+placee set out in the section headed “International Offering { Connected Client Placee
+with Consent under the Placing Guidelines ” in this announcement.
+
+
+--- page 3 ---
+5
+Confirmations Regarding Public Shareholders in the Hong Kong Public Offering and
+Placees in the International Offering
+• Save as disclosed in the section headed “International Offering { Connected Client Placee
+with Consent under the Placing Guidelines ” in this announcement, to the best knowledge,
+information and belief of the Directors, no Offer Shares placed by or through the Sole
+Overall Coordinator, the Sole Global Coordinator, the Joint Bookrunners, the Joint Lead
+Managers, or the Underwriters under the Global Offering have been placed with applicants
+or their respective ultimate beneficial owners who are core connected persons (as defined
+in the Listing Rules) of the Company or Directors of the Company, or to any connected
+clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons set out in
+paragraph 5(2) of the Placing Guidelines, whether in their own names or through nominees.
+The International Offering is in compliance with the Placing Guidelines.
+• The Directors confirm that, to the best of their knowledge, information and belief, (i)
+none of the Offer Shares subscribed by public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering has been financed directly or indirectly
+by the Company, any of the Directors, chief executive of the Company, the Controlling
+Shareholders, the substantial Shareholders, the existing Shareholders or any of their
+subsidiaries or their respective close associates; (ii) none of the public Shareholders in the
+Hong Kong Public Offering and placees in the International Offering who has subscribed
+for the Offer Shares is accustomed to taking instructions from the Company, any of the
+Directors, chief executive of the Company, the Controlling Shareholders, the substantial
+Shareholders, the existing Shareholders or any of their subsidiaries or their respective close
+associates in relation to the acquisition, disposal, voting or other disposition of the Shares
+registered in their name or otherwise held by them; (iii) no rebate has been, directly or
+indirectly, provided by the Company, the Directors, chief executive of the Company, the
+Controlling Shareholders, the substantial Shareholders, the existing Shareholders or any of
+their subsidiaries, or their respective close associates, or syndicate members or any brokers
+or underwriters to any public Shareholders in the Hong Kong Public Offering or placees in
+the International Offering; (iv) the consideration payable by the public Shareholders in the
+Hong Kong Public Offering and placees in the International Offering for each Offer Share
+subscribed for or purchased by them is the same as the final Offer Price as determined by
+the Company, in additional to brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC
+transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%; and (v) there
+is no side agreement or arrangement between the Company, any of the Directors, chief
+executive of the Company, the Controlling Shareholders, the substantial Shareholders of
+the Company, the existing Shareholders or any of their subsidiaries or their respective close
+associates or syndicate members or any other brokers or underwriters, on one hand, and the
+public subscribers or the placee who has subscribed for the Offer Shares, on the other hand.
+
+
+--- page 4 ---
+6
+• None of the Sole Sponsor, the Sole Overall Coordinator, the Sole Global Coordinator,
+the Joint Bookrunners, the Joint Lead Managers, the Underwriters, and their respective
+affiliated companies and connected clients of the lead broker or of any distributors (as
+defined in the Placing Guidelines) has taken up any Offer Shares for its own benefit under
+the Global Offering.
+Lock-up Undertakings
+• Each of the Company, the Controlling Shareholders, Shipston (the “Pre-IPO Investor ”)
+and the Cornerstone Investors is subject to certain lock-up undertakings as set out in the
+section headed “Lock-up Undertakings ” in this announcement.
+Results of Allocations
+• The final Offer Price, the level of indications of interest in the International Offering,
+the level of applications in the Hong Kong Public Offering and the basis of allocation
+of the Hong Kong Offer Shares will be published on Wednesday, October 11, 2023 on
+the Company ’s website at www.luyuan.cn and the website of the Stock Exchange at
+www.hkexnews.hk .
+• The results of allocations of the Hong Kong Offer Shares and the Hong Kong identity
+card numbers, passport numbers, Hong Kong business registration numbers or certificate
+of incorporation numbers of successful applicants (under the Hong Kong Public Offering
+where applicable) will be available at the times and dates and in the manner set out below:
+(i) in the announcement to be posted on our Company ’s website and the website of
+the Stock Exchange at www.luyuan.cn and www.hkexnews.hk , respectively on
+Wednesday, October 11, 2023;
+(ii) from the “IPO Results ” function in the IPO App and the designated results of
+allocations website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult
+with a “search by ID ” function on a 24-hour basis from 8:00 a.m. on Wednesday,
+October 11, 2023 to 12:00 midnight on Tuesday, October 17, 2023; and
+(iii) from the allocation results telephone enquiry line by calling +852 3691 8488 between
+9:00 a.m. and 6:00 p.m. from Wednesday, October 11, 2023 to Monday, October 16,
+2023 (excluding Saturday, Sunday and public holiday in Hong Kong).
+
+
+--- page 5 ---
+7
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by HK
+eIPO White Form ” in this announcement refer to Hong Kong identity card numbers,
+passport numbers, Hong Kong business registration numbers, certificate of incorporation
+numbers, beneficial owner identification codes (if such applications are made by nominees
+as agent for the benefit of another person) whereas those displayed in the section headed
+“Results of Applications Made by Giving Electronic Application Instructions to HKSCC
+via CCASS ” in this announcement are provided by CCASS Participants via CCASS.
+Therefore, the identification document numbers shown in the two sections are different
+in nature. Please note that the list of identification document numbers set out in this
+announcement may not be a complete list of successful applicants since only successful
+applicants whose identification document numbers are provided to HKSCC by CCASS
+Participants or via the HK eIPO White Form service are disclosed. Applicants with
+beneficial names only but not identification document numbers are not disclosed due to
+personal privacy issue as elaborated below. Applicants who applied for the Hong Kong
+Offer Shares through their brokers or nominees can consult their brokers or nominees to
+enquire about their application results;
+• Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications Made
+by HK eIPO White Form ” and “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” are redacted and not all details of
+applications are disclosed in this announcement.
+Dispatch/Collection of Share Certificates/e-Auto Refund Payment Instructions/Refund
+Checks
+• Applicants who have applied for 1,000,000 Hong Kong Offer Shares or more through
+the HK eIPO White Form service and who have been wholly or partially successfully
+allocated Hong Kong Offer Shares, may collect Share certificate(s) (where applicable) in
+person from the Hong Kong Share Registrar, Tricor Investor Services Limited, at 17/F,
+Far East Finance Centre, 16 Harcourt Road, Hong Kong, from 9:00 a.m. to 1:00 p.m. on
+Wednesday, October 11, 2023, or any other place or date notified by the Company as the
+date of dispatch or collection of Share certificates.
+• Applicants being individuals who are eligible for personal collection must not authorize any
+other person to collect on their behalf. Corporate applicants which are eligible for personal
+collection must attend by their authorized representative bearing letters of authorization
+from their corporations stamped with the corporations ’ chops. Both individuals and
+authorized representatives must produce, at the time of collection, evidence of identity
+acceptable to Tricor Investor Services Limited.
+• Share certificates for Hong Kong Offer Shares allotted to applicants who applied for
+less than 1,000,000 Hong Kong Offer Shares through the HK eIPO White Form service
+are expected to be dispatched to those entitled to the addresses specified in the relevant
+application instructions by ordinary post at their own risk on or before Wednesday, October
+11, 2023.
+• Share certificates for Hong Kong Offer Shares allotted to applicants who applied through
+the HK eIPO White Form service which are either not available for personal collection
+or which are available but are not collected in person by 1:00 p.m. on Wednesday, October
+11, 2023 are expected to be despatched by ordinary post to those entitled to the address
+specified in the relevant application at their own risk on or before Wednesday, October 11,
+2023.
+
+
+--- page 6 ---
+8
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their Share certificates issued in the name of
+HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS Investor
+Participant stock accounts or the stock accounts of their designated CCASS Participants
+who gave electronic application instructions on their behalf on Wednesday, October 11,
+2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them with that CCASS Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to
+HKSCC before 5:00 p.m. on Wednesday, October 11, 2023, or such other date as shall
+be determined by HKSCC or HKSCC Nominees. Applicants who applied as a CCASS
+Investor Participant by giving electronic application instructions to HKSCC via CCASS
+may also check the results of their applications and the amount of refund monies payable to
+them via the CCASS Phone System and the CCASS Internet System (under the procedures
+contained in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time
+to time). Immediately after the crediting of the Hong Kong Offer Shares to the CCASS
+Investor Participants stock accounts and the credit of refund monies to the CCASS Investor
+Participants bank accounts, HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the number of Hong Kong Offer Shares credited
+to their stock accounts and the refund amount credited to their respective designated bank
+accounts (if any).
+• Applicants who applied through the HK eIPO White Form service and paid the
+application monies from a single bank account will have refund monies (if any) despatched
+to their application payment accounts in the form of e-Auto Refund payment instructions on
+Wednesday, October 11, 2023. Applicants who applied through the HK eIPO White Form
+service and paid the application monies from multiple bank accounts will have refund
+monies (if any) despatched to the addresses specified in their application instructions in the
+form of refund check(s) in favour of the applicant (or, in the case of joint applications, the
+first-named applicant) by ordinary post at their own risk on or before Wednesday, October
+11, 2023. No interest will be paid thereon.
+• Refund monies (if any) for applicants who have applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their brokers or custodians on
+Wednesday, October 11, 2023.
+• Share certificates will only become valid at 8:00 a.m. on Thursday, October 12, 2023,
+provided that the Global Offering has become unconditional in all respects at or before
+that time 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.
+
+
+--- page 7 ---
+9
+• The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+Public Float
+• Immediately following the completion of the Global Offering, approximately 25% of the
+total issued Shares will be held by the public in compliance with the requirements under
+Rule 8.08 of the Listing Rules.
+• The Directors confirm that immediately after the Global Offering, (i) at least 25% of the
+Company ’s enlarged issued share capital will be held by the public hands in compliance
+with Rule 8.08(1) of the Listing Rules, (ii) no placee will, individually, be placed more
+than 10% of the enlarged issued share capital of the Company, (iii) there will not be any
+new substantial shareholder (as defined in the Listing Rules) of the Company, (iv) the three
+largest public Shareholders will not hold more than 50% of the shares held in public hands
+at the time of the Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules,
+and (v) 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
+• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
+a.m. on Thursday, October 12, 2023 (Hong Kong time), dealings in the Shares on the Stock
+Exchange will commence at 9:00 a.m. on Thursday, October 12, 2023 (Hong Kong time).
+The Shares will be traded in board lots of 500 Shares each. The stock code of the Shares is
+2451.
+In view of the 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 Shares.
+OFFER PRICE
+The Offer Price is HK$7.37 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction levy
+of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$7.37 per Offer Share, the net proceeds from the Global Offering
+to be received by the Company, after deduction of the underwriting fees and commissions and
+the other estimated expenses payable by the Company in connection with the Global Offering,
+are estimated to be approximately HK$706.4 million. The estimated total listing expenses are
+approximately HK$79.7 million, or 10.1% of the gross proceeds of the Global Offering, comprising
+HK$31.5 million underwriting-related expenses, HK$30.2 million fees and expenses of legal
+advisors and the Reporting Accountant, and HK$18.0 million other fees and expenses.
+
+
+--- page 8 ---
+10
+The Company intends to apply the net proceeds as follows:
+• approximately 30.0%, or HK$211.9 million, is expected to be used for the Group ’s research
+and development efforts to maintain the Group ’s technical edge. In particular:
+(i) approximately 24.0%, or HK$169.5 million, will be used for the research and
+development of new and upgraded products as well as technologies;
+(ii) approximately 3.0%, or HK$21.2 million, will be used to recruit additional research and
+development personnel, including high caliber talents specializing in areas including
+battery swapping, IoT technologies, software programing, circuit design and structural
+simulation; and
+(iii) approximately 3.0%, or HK$21.2 million, will be used for other research and
+development costs, such as purchasing and upgrading research and development
+equipment to enhance the Group ’s research and development infrastructure and support
+the Group ’s research and development personnel.
+• approximately 30.0%, or HK$211.9 million, is expected to be used to strengthen the Group ’s
+sales and distribution channels and for branding and marketing activities to raise the Group ’s
+brand awareness. In particular:
+(i) approximately 18.0%, or HK$127.2 million, will be used for the expansion of the
+Group’s distributor retail outlets across China;
+(ii) approximately 9.0%, or HK$63.6 million, will be used for branding and marketing
+activities;
+(iii) approximately 1.5%, or HK$10.6 million, will be used to enhance the Group ’s online
+channels and bring online traffic to the Group ’s physical retail outlets; and
+(iv) approximately 1.5%, or HK$10.6 million, will be used to expand the Group ’s sales in
+international markets, with a focus on the markets in Europe, the U.S. and Southeast
+Asia, and take advantage of favorable policies globally, including carbon neutral
+strategies and green mobility policies.
+• approximately 30.0%, or HK$211.9 million, is expected to be used to strengthen the Group ’s
+production capabilities, mainly involving the construction of new production facilities and
+upgrading of production equipment and machinery. In particular:
+(i) approximately 12.0%, or HK$84.8 million, will be used for acquisition of land use
+rights and production infrastructure construction in relation to the construction of a
+new production facility in a Southwestern China city with mature supply chains and
+supporting resources;
+(ii) approximately 9.0%, or HK$63.6 million, will be used for the capacity expansion plan
+of the Group ’s Shandong Plant; and
+(iii) approximately 9.0%, or HK$63.6 million, will be used for the capacity expansion plan
+of the Group ’s Guangxi Plant.
+
+
+--- page 9 ---
+11
+• approximately 10.0%, or HK$70.6 million, is expected to be used for working capital and
+other general corporate purposes.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
+the Prospectus.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have been
+slightly over-subscribed. At the close of the application lists at 12:00 noon on Wednesday, October
+4, 2023, a total of 5,104 valid applications have been received pursuant to the Hong Kong Public
+Offering through the HK eIPO White Form service and through the CCASS EIPO service for
+a total of 81,761,000 Hong Kong Offer Shares, representing approximately 7.66 times of the
+total number of 10,667,000 Hong Kong Offer Shares initially available for subscription under the
+Hong Kong Public Offering, 3,125 of which have been allocated one board lot of Shares totaling
+1,562,500 Shares, among which:
+• 5,053 valid applications in respect of a total of 32,627,500 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount based on the
+maximum Offer Price of HK$8.00 per Offer Share (excluding brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction
+levy of 0.00015%) of HK$5 million or less, representing approximately 6.12 times of the
+5,333,500 Hong Kong Offer Shares initially comprised in Pool A; and
+• 51 valid applications in respect of a total of 49,133,500 Hong Kong Offer Shares were for the
+Hong Kong Public Offering with an aggregate subscription amount based on the maximum
+Offer Price of HK$8.00 per Offer Share (excluding brokerage of 1.0%, SFC transaction
+levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy
+of 0.00015%) of more than HK$5 million, representing approximately 9.21 times of the
+5,333,500 Hong Kong Offer Shares initially comprised in Pool B.
+No application has been rejected due to invalid application. Two multiple or suspected multiple
+applications have been identified and rejected. No application has been rejected due to dishonored
+payment. No application for more than 5,333,500 Hong Kong Offer Shares (being 50% of the Hong
+Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
+As the over-subscription in the Hong Kong Public Offering represents less than 15 times the
+number of the Offer Shares initially available for subscription under the Hong Kong Public
+Offering, no reallocation procedure as disclosed in the section headed “Structure of the Global
+Offering { The Hong Kong Public Offering { Reallocation ” in the Prospectus has been applied
+and no Offer Shares have been reallocated from the International Offering to the Hong Kong
+Public Offering. The final number of Offer Shares under the Hong Kong Public Offering is
+10,667,000 Shares, representing approximately 10% of the total number of Offer Shares initially
+available under the Global Offering, and being allocated to 4,483 successful applicants under the
+Hong Kong Public Offering, 3,125 of which have been allocated one board lot of Shares totaling
+1,562,500 Shares, representing approximately 14.65% of total Offer Shares under the Hong Kong
+Public Offering.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offering ”
+below.
+
+
+--- page 10 ---
+12
+INTERNATIONAL OFFERING
+The Offer Shares initially offered under the International Offering have been slightly over-
+subscribed, representing approximately 1.13 times of the total number of Offer Shares initially
+available under the International Offering. The final number of Offer Shares under the International
+Offering is 96,000,000 Shares, representing approximately 90% of the total number of Offer Shares
+initially available under the Global Offering.
+There are a total of 134 placees under the International Offering, among which 118 placees,
+representing approximately 88.06% of the total number of placees under the International Offering,
+have been allotted five or fewer board lots of Offer Shares, totalling 59,000 Shares, representing
+approximately 0.06% of the total number of the Offer Shares available under the International
+Offering. A total of 118 placees have been allotted one board lot of Offer Shares, totaling 59,000
+Shares, representing approximately 0.06% of the total number of the Offer Shares available under
+the International Offering.
+Cornerstone Investors
+Based on the Offer Price of HK$7.37 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy
+of 0.00015%), and pursuant to the Cornerstone Investment Agreements as disclosed in the section
+headed “Cornerstone Investors ” in the Prospectus, the number of Offer Shares subscribed for by
+the cornerstone investors has now been determined and is set out below:
+Cornerstone Investor
+Investment
+Amount (1)
+Number of
+Offer Shares (2)
+Approximate %
+of total number
+of Offer Shares
+Approximate %
+of total Shares in
+issue immediately
+following the
+completion of
+Global Offering
+(HK$ in million)
+Jinhua Jinkai State Owned Capital
+ Investments Co., Ltd.
+ (ʮ̡ )
+ ( “Jinhua Jinkai ”)(3) 135.36 18,367,000 17.22% 4.30%
+Chongqing Dazuhuaiyuan Construction
+ Investment Co., Ltd
+ (ʮ̡ )
+ ( “Chongqing Dazuhuaiyuan ”)(3) 85.24 11,565,500 10.84% 2.71%
+Hainan Dongfang Runze Private Equity
+ Fund Management Co., Ltd.
+ (ʮ̡ )
+ ( “Hainan Dongfang ”) 85.00 11,533,000 10.81% 2.70%
+
+
+--- page 11 ---
+13
+Cornerstone Investor
+Investment
+Amount (1)
+Number of
+Offer Shares (2)
+Approximate %
+of total number
+of Offer Shares
+Approximate %
+of total Shares in
+issue immediately
+following the
+completion of
+Global Offering
+(HK$ in million)
+Jinhua Industrial Fund Co., Ltd.
+ (ʮ̡ )
+ ( “Jinhua Industrial ”)(3) 84.38 11,448,500 10.73% 2.68%
+Phylion Battery Co., Ltd.
+ (ʮ̡ )
+ ( “Phylion Battery ”) 53.67 7,282,500 6.83% 1.71%
+443.65 60,196,500 56.43% 14.11%
+Notes:
+1. For illustrative purposes only, all investment amounts are exclusive of brokerage, the SFC transaction levy, the
+Stock Exchange trading fee and AFRC transaction levy.
+2. Rounded down to the nearest whole board lot of 500 Offer Shares. The final number of Offer Shares allotted
+to the relevant Cornerstone Investors was calculated with reference to the actual exchange rate to be used
+as prescribed in the relevant Cornerstone Investment Agreements. Due to the currency exchange difference,
+the final number of Offer Shares allotted may be different from the illustrative number of Offer Shares to be
+subscribed by certain Cornerstone Investors as disclosed in the Prospectus.
+3. As disclosed in the section headed “Cornerstone Investors ” in the Prospectus, the Offer Shares to be subscribed
+by Jinhua Jinkai and Jinhua Industrial will be aggregated when counting towards the public float of the
+Company. As the Offer Price is finally determined to be HK$7.37 and the total Offer Shares allocated to
+the three largest public Shareholders (comprising (i) Jinhua Jiinkai and Jinhua Industrial, (ii) Chongqing
+Dazuhuaiyuan and (iii) a public investor who is not a Cornerstone Investor) would not exceed 50% of the
+Shares in public hands, the LR8.08(3) Adjustment as set out in the section headed “Cornerstone Investors ” in
+the Prospectus has not been triggered.
+
+
+--- page 12 ---
+14
+The Cornerstone Investors have agreed to pay for the relevant Offer Shares that they have
+subscribed before dealings in the Shares commence on the Stock Exchange. There will be no
+delayed delivery or delayed settlement of the Offer Shares to be subscribed by the Cornerstone
+Investors. The Company has confirmed that (i) each Cornerstone Investor (and, for the Cornerstone
+Investor who will subscribe for our Offer Shares through a qualified domestic institutional investor
+(“QDII”), such QDII and the Cornerstone Investor) is an independent third party and is not the
+Company ’s connected person (as defined in the Listing Rules), their respective associates nor an
+existing Shareholder; (ii) the Cornerstone Investors are independent from each other; (iii) none of
+the Cornerstone Investors is accustomed to taking instructions from the Company, the Directors,
+chief executive of the Company, the Controlling Shareholders, the substantial Shareholders, the
+existing Shareholders or any of their respective close associates in relation to the acquisition,
+disposal, voting or other disposition of the Offer Shares registered in its name or otherwise held
+by it; and (iv) none of the subscriptions made by the Cornerstone Investors has been financed
+by the Company, the Directors, chief executive of the Company, the Controlling Shareholders,
+the substantial Shareholders, other existing Shareholders or their respective close associates. As
+confirmed by each Cornerstone Investor, its subscription under the Cornerstone Placing would
+be directly or indirectly financed by its own internal financial resources, and each of them has
+sufficient funds to settle its respective investments under the Cornerstone Placing. There are
+no side agreements/arrangements between the Company and the Cornerstone Investors or any
+benefit, direct or indirect, conferred on the Cornerstone Investors by virtue of or in relation to the
+Cornerstone Placing, other than a guaranteed allocation of the relevant Offer Shares at the Offer
+Price. Each of the Cornerstone Investors has confirmed that all necessary approvals have been
+obtained with respect to the Cornerstone Placing and that no specific approval from any stock
+exchange or its shareholders is required for the relevant cornerstone investment.
+The Cornerstone Placing forms part of the International Offering, and the Cornerstone Investors
+will not subscribe for any Offer Shares under the Global Offering other than pursuant to the
+Cornerstone Investment Agreements. The Offer Shares to be subscribed by the Cornerstone
+Investors will rank pari passu in all respects with the fully paid Shares in issue and will be counted
+towards the public float for the purpose of Rule 8.08 of the Listing Rules. Immediately following
+the completion of the Global Offering, the Cornerstone Investors will not have any Board
+representation in the Company; and none of the Cornerstone Investors will become a substantial
+Shareholder. Other than a guaranteed allocation of the relevant Offer Shares at the Offer Price,
+the Cornerstone Investor does not have any preferential rights in the Cornerstone Investment
+Agreement compared with other public Shareholders.
+Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at
+any time during the period of six months from and inclusive of the Listing Date (the “Lock–
+up Period ”), dispose of any of the Offer Shares it has subscribed pursuant to the Cornerstone
+Investment Agreements, save for certain limited circumstances set out in Cornerstone Investment
+Agreements, such as transfers to any of its wholly-owned subsidiaries who will be bound by the
+same obligations of such Cornerstone Investor, including the Lock-up Period restrictions.
+Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further details
+relating to the Cornerstone Investors.
+
+
+--- page 13 ---
+15
+Connected Client Placee with Consent under the Placing Guidelines
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a
+consent under paragraph 5(1) of the Placing Guidelines to permit the Company to allocate Offer
+Shares in the International Offering to the following placee:
+Placee
+Connected
+Distributor
+Relationship with
+the Connected
+Distributor
+Number of
+Offer Shares
+Placed
+Approximate
+% of total
+number of
+Offer Shares
+Approximate
+% of total
+Shares in issue
+immediately
+following the
+completion
+of Global
+Offering
+Connected client holding Offer Shares on a discretionary basis:
+Galaxy Jinhui
+ Securities Asset
+ Management
+ Co., Ltd.
+ ( “Galaxy Jinhui ”)(1)
+China Galaxy
+ International
+ Securities
+ (Hong Kong)
+ Co., Limited
+ ( “CGIS”)
+Each of Galaxy
+ Jinhui and CGIS
+ is a wholly-owned
+ subsidiary of China
+ Galaxy Securities
+ Co., Ltd.
+11,533,000 10.81% 2.70%
+Note:
+1. Galaxy Jinhui was engaged by Hainan Dongfang as an asset manager that is a qualified domestic institutional
+investor (QDII) as approved by the relevant PRC authority, to subscribe for and hold such number of Offer
+Shares as set out herein on a discretionary basis on behalf of Hainan Dongfang.
+The Offer Shares placed to the above placee are in compliance with all the conditions under the
+consent granted by the Stock Exchange.
+Confirmations Regarding Public Shareholders in the Hong Kong Public Offering and Placees
+in the International Offering
+Save as disclosed in the section headed “International Offering { Connected Client Placee with
+Consent under the Placing Guidelines ” in this announcement, to the best knowledge, information
+and belief of the Directors, no Offer Shares placed by or through the Sole Overall Coordinator,
+the Sole Global Coordinator, the Joint Bookrunners, the Joint Lead Managers, or the Underwriters
+under the Global Offering have been placed with applicants or their respective ultimate beneficial
+owners who are core connected persons (as defined in the Listing Rules) of the Company or
+Directors of the Company, or to any connected clients (as set out in paragraph 5(1) of the Placing
+Guidelines), or persons set out in paragraph 5(2) of the Placing Guidelines, whether in their
+own names or through nominees. The International Offering is in compliance with the Placing
+Guidelines.
+
+
+--- page 14 ---
+16
+The Directors confirm that, to the best of their knowledge, information and belief, (i) none of the
+Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering and placees
+in the International Offering has been financed directly or indirectly by the Company, any of
+the Directors, chief executive of the Company, the Controlling Shareholders, the substantial
+Shareholders, the existing Shareholders or any of their subsidiaries or their respective close
+associates; (ii) none of the public Shareholders in the Hong Kong Public Offering and placees
+in the International Offering who has subscribed for the Offer Shares is accustomed to taking
+instructions from the Company, any of the Directors, chief executive of the Company, the
+Controlling Shareholders, the substantial Shareholders, the existing Shareholders or any of their
+subsidiaries or their respective close associates in relation to the acquisition, disposal, voting or
+other disposition of the Shares registered in their name or otherwise held by them; (iii) no rebate
+has been, directly or indirectly, provided by the Company, the Directors, chief executive of the
+Company, the Controlling Shareholders, the substantial Shareholders, the existing Shareholders
+or any of their subsidiaries, or their respective close associates, or syndicate members or any
+brokers or underwriters to any public Shareholders in the Hong Kong Public Offering or placees in
+the International Offering; (iv) the consideration payable by the public Shareholders in the Hong
+Kong Public Offering and placees in the International Offering for each Offer Share subscribed
+for or purchased by them is the same as the final Offer Price as determined by the Company, in
+additional to brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of
+0.00015% and Stock Exchange trading fee of 0.00565%; and (v) there is no side agreement or
+arrangement between the Company, any of the Directors, chief executive of the Company, the
+Controlling Shareholders, the substantial Shareholders of the Company, the existing Shareholders
+or any of their subsidiaries or their respective close associates or syndicate members or any other
+brokers or underwriters, on one hand, and the public subscribers or the placee who has subscribed
+for the Offer Shares, on the other hand.
+None of the Sole Sponsor, the Sole Overall Coordinator, the Sole Global Coordinator, the
+Joint Bookrunners, the Joint Lead Managers, the Underwriters, and their respective affiliated
+companies and connected clients of the lead broker or of any distributors (as defined in the Placing
+Guidelines) has taken up any Offer Shares for its own benefit under the Global Offering.
+
+
+--- page 15 ---
+17
+LOCK-UP UNDERTAKINGS
+Each of the Company, the Controlling Shareholders, the Pre-IPO Investor and the Cornerstone
+Investors has given certain undertakings in relation to the issue or disposal of Shares (the “Lock-up
+Undertakings ”). The major terms of the Lock-Up Undertakings are set out as follows:
+Name
+Number of
+Lock-up
+Shares held in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing
+Approximate
+percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing
+Last day subject to the
+Lock-up Undertakings
+The Company
+ (subject to lock-up obligations
+ pursuant to the Listing Rules
+ and the Hong Kong Underwriting
+ Agreement)
+N/A N/A April 11, 2024 (1)
+(First Six-Month Period)
+October 11, 2024 (1)
+(Second Six-Month Period)
+Cornerstone Investors
+ (subject to lock-up obligations
+ pursuant to the relevant
+ Cornerstone Investment
+ Agreements)
+Jinhua Jinkai 18,367,000 4.30% April 11, 2024 (2)
+Chongqing Dazuhuaiyuan 11,565,500 2.71% April 11, 2024 (2)
+Hainan Dongfang 11,533,000 2.70% April 11, 2024 (2)
+Jinhua Industrial 11,448,500 2.68% April 11, 2024 (2)
+Phylion Battery 7,282,500 1.71% April 11, 2024 (2)
+Controlling Shareholders
+ (subject to lock-up obligations
+ pursuant to the Listing Rules
+ and the Hong Kong Underwriting
+ Agreement)
+Mr. Ni, Ms. Hu, Drago Investments,
+ Apex Marine and Best Expand
+277,664,000 65.08% April 11, 2024 (3)
+(First Six-Month Period)
+October 11, 2024 (3)
+(Second Six-Month Period)
+
+
+--- page 16 ---
+18
+Name
+Number of
+Lock-up
+Shares held in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing
+Approximate
+percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing
+Last day subject to the
+Lock-up Undertakings
+Pre-IPO Investor
+ (subject to lock-up obligations
+ pursuant to its separate lock-up
+ undertaking)
+Shipston 25,600,000 6.00% April 11, 2024
+Notes:
+(1) The Company may not, among others, issue or agree to issue or publicly announce its intention to issue Shares
+or securities of the Company during the First Six-Month Period except for the issue of the Shares pursuant to
+the Capitalization Issue, the Global Offering, the issue of any Shares pursuant to the Post-IPO Share Scheme
+or as otherwise with the prior written consent of the Sole Global Coordinator (for itself and on behalf of the
+Hong Kong Underwriters), and unless in compliance with the Listing Rules. In the event the Company does
+so by virtue of the aforesaid exceptions or during the Second Six-Month Period, the Company will take all
+reasonable steps to ensure that such action will not create a disorderly or false market in any of the securities
+of the Company. For details of the lock-up arrangements of the Company, please refer to the paragraphs headed
+“Underwriting { Undertakings Pursuant to the Hong Kong Underwriting Agreement { Undertakings by our
+Company ” in the Prospectus.
+(2) Each of the Cornerstone Investors may dispose of any of the Offer Shares subscribed in the Global Offering
+after the indicated date.
+(3) The Controlling Shareholders shall not (a) dispose of any of the relevant securities of the Company in the First
+Six–Month Period; or (b) dispose of any of the relevant securities of the Company in the Second Six-Month
+Period if immediately following such disposal the Controlling Shareholder would cease to be a controlling
+shareholder (as defined in the Listing Rules) of the Company, or dispose of any of the relevant securities of the
+Company in the Second Lock-up Period if immediately following such disposal the Controlling Shareholders
+as a group would cease to be a controlling shareholder (as defined in the Listing Rules) of the Company. As set
+out in “Underwriting { Undertakings pursuant to the Hong Kong Underwriting Agreement { Undertakings by
+our Controlling Shareholders ” in the Prospectus, for the avoidance of doubt, our Controlling Shareholders as a
+controlling group would cease to be a controlling shareholder of our Company if (a) there is any change in the
+shareholders constituting our Controlling Shareholders as a controlling group due to any addition or departure
+of shareholder(s); (b) there is any material change in the voting interests directly or indirectly held by each
+Controlling Shareholder in our Company; and/or (c) our Controlling Shareholders as a group fail to maintain an
+aggregate voting interests of at least 30% in our Company.
+For further details, please refer to the sections headed “Underwriting { Undertakings to the Stock Exchange
+pursuant to the Listing Rules { Undertakings by our group of Controlling Shareholders ” and “Underwriting
+{ Undertakings pursuant to the Hong Kong Underwriting Agreement { Undertakings by our Controlling
+Shareholders ” in the Prospectus.
+
+
+--- page 17 ---
+19
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the section headed “Structure of the Global
+Offering { Conditions of the Global Offering ” in the Prospectus, 5,104 valid applications made
+by the public through the HK eIPO White Form service and the CCASS EIPO service will be
+conditionally allocated on the basis set out below:
+Pool A
+Number
+of Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of Shares
+applied for
+500 2,464 1,972 out of 2,464 applicants to receive
+ 500 Shares
+80.03%
+1,000 1,004 886 out of 1,004 applicants to receive
+ 500 Shares
+44.12%
+1,500 110 99 out of 110 applicants to receive 500 Shares 30.00%
+2,000 67 500 Shares 25.00%
+2,500 78 500 Shares plus 16 out of 78 applicants to
+ receive an additional 500 Shares
+24.10%
+3,000 43 500 Shares plus 18 out of 43 applicants to
+ receive an additional 500 Shares
+23.64%
+3,500 21 500 Shares plus 13 out of 21 applicants to
+ receive an additional 500 Shares
+23.13%
+4,000 30 500 Shares plus 24 out of 30 applicants to
+ receive an additional 500 Shares
+22.50%
+4,500 20 1,000 Shares 22.22%
+5,000 71 1,000 Shares plus 11 out of 71 applicants to
+ receive an additional 500 Shares
+21.55%
+6,000 576 1,000 Shares plus 261 out of 576 applicants to
+ receive an additional 500 Shares
+20.44%
+7,000 25 1,000 Shares plus 17 out of 25 applicants to
+ receive an additional 500 Shares
+19.14%
+8,000 10 1,500 Shares 18.75%
+9,000 11 1,500 Shares plus 4 out of 11 applicants to
+ receive an additional 500 Shares
+18.69%
+10,000 146 1,500 Shares plus 73 out of 146 applicants to
+ receive an additional 500 Shares
+17.50%
+15,000 31 2,000 Shares 13.33%
+20,000 194 2,500 Shares 12.50%
+25,000 17 3,000 Shares 12.00%
+
+
+--- page 18 ---
+20
+Pool A
+Number
+of Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of Shares
+applied for
+30,000 13 3,500 Shares 11.67%
+35,000 9 4,000 Shares 11.43%
+40,000 10 4,500 Shares 11.25%
+45,000 1 5,000 Shares 11.11%
+50,000 13 5,500 Shares 11.00%
+60,000 10 6,500 Shares 10.83%
+70,000 8 7,500 Shares 10.71%
+80,000 2 8,500 Shares 10.63%
+90,000 3 9,500 Shares 10.56%
+100,000 28 10,500 Shares 10.50%
+200,000 16 20,500 Shares 10.25%
+300,000 4 30,500 Shares 10.17%
+400,000 8 40,500 Shares 10.13%
+500,000 7 50,500 Shares 10.10%
+600,000 3 60,500 Shares 10.08%
+Total 5,053 Total number of Pool A successful applicants: 4,432
+Pool B
+Number
+of Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of Shares
+applied for
+700,000 36 76,500 Shares 10.93%
+800,000 7 86,500 Shares 10.81%
+1,000,000 4 108,000 Shares 10.80%
+2,000,000 1 215,500 Shares 10.78%
+3,000,000 1 323,000 Shares 10.77%
+4,000,000 1 430,500 Shares 10.76%
+5,333,500 1 573,000 Shares 10.74%
+Total 51 Total number of Pool B successful applicants: 51
+The final number of Offer Shares under the Hong Kong Public Offering is 10,667,000 Offer
+Shares, representing approximately 10% of the total number of Offer Shares initially available
+under the Global Offering.
+
+
+--- page 19 ---
+21
+RESULTS OF ALLOCATIONS
+The final Offer Price, the level of indications of interest in the International Offering, the level of
+applications in the Hong Kong Public Offering and the basis of allocation of the Hong Kong Offer
+Shares will be published on Wednesday, October 11, 2023 on the Company ’s website at www.
+luyuan.cn and the website of the Stock Exchange at www.hkexnews.hk .
+The results of allocations of the Hong Kong Offer Shares and the Hong Kong identity card
+numbers, passport numbers, Hong Kong business registration numbers or certificate of
+incorporation numbers of successful applicants (under the Hong Kong Public Offering where
+applicable) will be available at the times and dates and in the manner set out below:
+• in the announcement to be posted on our Company ’s website and the website of the Stock
+Exchange at www.luyuan.cn and www.hkexnews.hk , respectively on Wednesday, October
+11, 2023;
+• from the “IPO Results ” function in the IPO App and the designated results of allocations
+website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search by
+ID” function on a 24-hour basis from 8:00 a.m. on Wednesday, October 11, 2023 to 12:00
+midnight on Tuesday, October 17, 2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between
+9:00 a.m. and 6:00 p.m. from Wednesday, October 11, 2023 to Monday, October 16, 2023
+(excluding Saturday, Sunday and public holidays in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White Form ”
+in this announcement refer to Hong Kong identity card numbers, passport numbers, Hong Kong
+business registration numbers, certificate of incorporation numbers, beneficial owner identification
+codes (if such applications are made by nominees as agent for the benefit of another person)
+whereas those displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS
+Participants via CCASS. Therefore, the identification document numbers shown in the two sections
+are different in nature. Please note that the list of identification document numbers set out in this
+announcement may not be a complete list of successful applicants since only successful applicants
+whose identification document numbers are provided to HKSCC by CCASS Participants or via
+the HK eIPO White Form service are disclosed. Applicants with beneficial names only but not
+identification document numbers are not disclosed due to personal privacy issue as elaborated
+below. Applicants who applied for the Hong Kong Offer Shares through their brokers or nominees
+can consult their brokers or nominees to enquire about their application results;
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK eIPO
+White Form ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 20 ---
+22
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee(s) Subscription
+Shares held
+following the
+Global
+Offering
+Subscription
+as % of
+International
+Offering
+Subscription
+as % of total
+Offer Shares
+% of the
+total issued
+share capital
+upon Listing
+Top 1 29,815,500 29,815,500 31.06% 27.95% 6.99%
+Top 5 71,767,000 71,767,000 74.76% 67.28% 16.82%
+Top 10 90,529,000 90,529,000 94.30% 84.87% 21.22%
+Top 20 95,943,000 95,943,000 99.94% 89.95% 22.49%
+Top 25 95,945,500 95,945,500 99.94% 89.95% 22.49%
+• Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Shareholder(s)
+Subscription of
+Hong Kong
+Offer Shares
+Subscription of
+International
+Offer Shares
+Subscription of
+total Offer
+Shares
+Shares held
+following the
+Global
+Offering
+Subscription
+as % of
+Hong Kong
+Public Offering
+Subscription
+as % of
+International
+Offering
+Subscription
+as % of total
+Offer Shares
+% of the
+total issued
+share capital
+upon Listing
+Top 1 – – Ñ 277,664,000 – 0.00% 0.00% 65.08%
+Top 5 – 41,386,000 41,386,000 361,386,000 – 43.11% 38.80% 84.70%
+Top 10 – 81,314,000 81,314,000 401,314,000 – 84.70% 76.23% 94.06%
+Top 20 1,003,500 95,783,000 96,786,500 416,786,500 9.41% 99.77% 90.74% 97.68%
+Top 25 1,758,000 95,941,000 97,699,000 417,699,000 16.48% 99.94% 91.59% 97.90%
+In view of the 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 Shares.
diff --git a/data/extracted_text/02473/allotment_results_summary_2023-11-08_2023110800018.txt b/data/extracted_text/02473/allotment_results_summary_2023-11-08_2023110800018.txt
new file mode 100644
index 0000000..5a35ca0
--- /dev/null
+++ b/data/extracted_text/02473/allotment_results_summary_2023-11-08_2023110800018.txt
@@ -0,0 +1,735 @@
+--- page 1 ---
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+. The final Offer Price has been determine d at HK$1.10 per Offer Share (excluding
+brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of
+0.00565% and AFRC transact ion levy of 0.00015%).
+Net Proceeds From The Global Offering
+. Based on the final Offer Price of HK$1.10 per Offer Share, the net proceeds from
+the Global Offering to be received b y the Company, after deduction of the
+underwriting commissions and other esti mated expenses payable by the Company
+in connection with the Global Offering, a nd given that the Over-allotment Option
+is not exercised, are estimated to be approximately HK$28.8 million. The
+Company intends to use such net proceeds in accordance with the purposes as
+set out in the section headed ‘‘Net procee ds from the Global Offering’’ in this
+announcement.
+Applications and Indicati ons of Interest Received
+Hong Kong Public Offering
+. The Hong Kong Offer Shares initially offered under the Hong Kong Public
+Offering have been significantly over-subscribed. A total of 6,337 valid
+applications have been received pursuant to the Hong Kong Public Offering
+(being applications made through the White Form eIPO service and the CCASS
+EIPO service) for a total of 151,735,000 Hong Kong Offer Shares, representing
+approximately 14.71 times of the total number of 10,312,500 Hong Kong Offer
+Shares initially available for subscripti on under the Hong Kong Public Offering.
+. As the over-subscription in the Hong Kong Public Offering is less than 15 times,
+the reallocation procedures as describe di nt h es e c t i o nh e a d e d‘ ‘ S t r u c t u r ea n d
+Conditions of the Global Offering — The Hong Kong Public Offering —
+Reallocation’’ in the Prospectus have not been applied. The final number of Offer
+Shares under the Hong Kong Public Offering remains to be 10,312,500 Offer
+Shares, representing 10% of the total num ber of Offer Shares initially available
+under the Global Offering, which have been allocated to 1,316 successful
+applicants under the Hong Kong P ublic Offering, among which, 1,089
+Shareholders, representi ng approximately 82.8% of the Shareholders who were
+allocated Offer Shares under the Hong K ong Public Offering, were allocated with
+one board lot of the Offer Shares, totaling 2,722,500 Shares, representing
+approximately 26.4% of the total Offer Shares under the Hong Kong Public
+Offering.
+–3–
+
+
+--- page 2 ---
+International Placing
+. The International Placing Shares initially offered under the International Placing
+have been just sufficiently subscribed, r epresenting approximately 1.007 times the
+number of International Placing Shares ini tially available under the International
+Placing. The reallocation procedures as de scribed in the section headed ‘‘Structure
+and Conditions of the Global Offerin g — The Hong Kong Public Offering —
+Reallocation’’ in the Prospectus have not been applied. The final number of
+International Placing Shares under the International Placing remains to be
+92,812,500 Offer Shares, representing 90% of the total number of Offer Shares
+initially available under the Global Offering.
+. No over-allocation of Offer Shares has been made and there are a total of 110
+placees under the International Pla cing, among which 64 placees have been
+allotted five or fewer board lots of Offe r Shares, representing approximately
+58.2% of the 110 placees under the Internat ional Placing and 64 placees have been
+allotted one board lot of Offer Shares, re presenting approximately 58.2% of the
+110 placees under the International Placing.
+. The International Placing has been co nducted in compliance with the Placing
+Guidelines for Equity Securities in A ppendix 6 to the Listing Rules (the ‘‘ Placing
+Guidelines ’’). None of the Sole Sponsor, the Sole Overall Coordinator, the Sole
+Global Coordinator, the Joint Bookrunners, the Joint Lead Managers, the
+Underwriters and their respective affili ated companies and connected clients of the
+lead broker or of any distributors (as defi ned in the Placing Guidelines) has taken
+up any Offer Shares for its own benefit under the Global Offering.
+–4–
+
+
+--- page 3 ---
+Confirmations of Public Shareholders in th e Hong Kong Public Offering and Placees in
+the International Placing
+. To the best knowledge of the Company, ( i) none of the Offer Shares subscribed for
+by public Shareholders in the Hong Kong Public Offering and placees in the
+International Placing has been finance d directly, or indirectly by the Company,
+the Directors, the chief executive of the Company, the single largest Shareholder,
+the substantial share holders (as defined in the Listing Rules) of the Company,
+existing Shareholders, or any of their s ubsidiaries or their respective close
+associates; (ii) none of the public Share holders in the Hong Kong Public Offering
+and placees in the International Placing who has subscribed for the Offer Shares is
+accustomed to taking instructions from the Company, the Directors, the chief
+executive of the Company, the single la rgest Shareholder, the substantial
+shareholders (as defined in the Listi ng Rules) of the Company, existing
+Shareholders, or any of their subsidiaries or their respective close associates in
+relation to the acquisition, disposal, v oting or other disposition of the Shares
+registered in their name or otherwise held by them; (iii) no rebate has been,
+directly or indirectly, provided by the Co mpany, the Directors, the chief executive
+of the Company, the single largest Sharehol der, the substantial shareholders (as
+defined in the Listing Rules) of the Compa ny, the existing Shareholders, or any of
+their subsidiaries or their respective close associates, or syndicate members or any
+brokers or underwriters to any public Shareholders in the Hong Kong Public
+Offering or placees in the International P lacing; (iv) the consideration payable by
+the public Shareholders in the Hong Kong Public Offering and placees in the
+International Placing for each Offer Share subscribed for or purchased by them is
+the same as the final Offer Price as determined by the Company, in additional to
+brokerage of 1.0%, SFC transaction levy o f 0.0027%, Stock Exchange trading fee
+of 0.00565% and AFRC transaction levy of 0.00015%; and (v) there is no side
+agreement or arrangement between the Com pany, any of the Directors, the chief
+executive of the Company, the single la rgest Shareholder, the substantial
+shareholders (as defined in the Listi ng Rules) of the Company, the existing
+Shareholders, or any of their subsidiaries or their respective close associates or
+syndicate members or any other brokers or underwriters, on one hand, and the
+public Shareholder or the placee who has s ubscribed for the Offer Shares, on the
+other hand.
+. The Directors confirm that, to the best o f their knowledge, information and belief,
+no Offer Shares under the International Placing placed by or through the Sole
+Overall Coordinator, the Sole Global Coor dinator, the Joint Bookrunners, the
+Joint Lead Managers or the Underwrite rs under the Global Offering have been
+placed with any core connected persons (a s defined in the Listing Rules) of the
+Company, or to any connected clients (as se t out in paragraph 5(1) of the Placing
+Guidelines), or persons set out in par agraph 5(2) of the Placing Guidelines,
+whether in their own names or through nominees.
+–5–
+
+
+--- page 4 ---
+Over-allotment Option
+. The Sole Overall Coordinator confirme dt h a tn oo v e r - a l l o c a t i o no ft h eO f f e r
+Shares under the International Placing has been made. Accordingly, the Stock
+Borrowing Agreement has not been and will not be entered into, and the
+Over-allotment Option has not been and will not be exercised. In view of the fact
+that there has been no over-allocation of t he Offer Shares under the International
+Placing, no stabilising actions as describe d in the Prospectus will take place during
+the stabilising period.
+Lock-up Undertakings
+. The Company and the single largest Shareholder are subject to certain lock-up
+undertakings as set out in the section headed ‘‘Lock-up Undertakings’’ in this
+announcement.
+Results of Allocations
+. The final Offer Price, the level of indic ations of interest in the International
+Placing, the level of applications in th e Hong Kong Public Offering and the basis
+of allocation of the Hong Kong Offer Sha res are also published on the Company’s
+website at
+www.xxfqc.com and the Stock Exchange’s website at www.hkexnews.hk
+on Wednesday, 8 November 2023.
+. The results of allocations in the Hong Kong Public Offering (with successful
+applicants’ identification document num bers, where appropriate) will be available
+at the times and dates and in the manner set out below:
+(i) in the announcement to be poste d on the Company’s website at
+www.xxfqc.com and the Stock Exchange’s website at www.hkexnews.hk by
+no later than 9 : 00 a.m. on W ednesday, 8 November 2023;
+(ii) from the designated results of allocations websites at
+www.iporesults.com.hk (alternatively: English https://www.eipo.com.hk/en/Allotment;
+Chinese https://www.eipo.com.hk/zh-hk/Allotment) with a ‘‘search by ID’’ function
+from 8 : 00 a.m. on Wednesday, 8 November 2023 to 12 : 00 midnight on
+Tuesday, 14 November 2023; and
+(iii) by telephone enquiry line by calling +852 2862 8555 between 9 : 00 a.m. and
+6 : 00 p.m. from Wednesday, 8 November 2023 to Monday, 13 November 2023
+(excluding Saturday, Sunday and public holiday in Hong Kong).
+–6–
+
+
+--- page 5 ---
+. This announcement contains a list of i dentification document numbers.
+Identification document numbers shown in the section headed ‘‘Results of
+Applications Made by White Form eIPO service’’ in this announcement refer to
+Hong Kong identity card numbers/passport numbers/Hong Kong business
+registration numbers/certificate of in corporation numbers/beneficial owner
+identification codes (if such applicat ions are made by nominees as agent for the
+benefit of another person) whereas those d isplayed in the section headed ‘‘Results
+of Applications Made by Giving Electronic Application Instructions to HKSCC via
+CCASS’’ in this announcement are provided by CCASS Participants via CCASS.
+Therefore, the identification documen t numbers shown in the two sections are
+different in nature. Please note that the li st of identification document numbers set
+out in this announcement may not be a complet e list of successful applicants since
+only successful applicants whose identific ation document numbers are provided to
+HKSCC by CCASS Participants are disclos ed. Applicants with beneficial names
+only but not identificatio n document numbers are not disclosed due to personal
+privacy issue as elaborated below. Ap plicants who applied for the Hong Kong
+Offer Shares through their brokers can c onsult their brokers to enquire about their
+application results.
+. Since applications are subject to persona l information collection statements,
+beneficial owner identification codes displ ayed in the sections headed ‘‘Results of
+Applications Made by White Form eIPO service’’ and ‘‘Results of Applications
+Made by Giving Electronic Application Instructions to HKSCC via CCASS’’ are
+redacted and not all details of applicat ions are disclosed in this announcement.
+Despatch/Collection of Share Certificat es/e-Refund Payment In structions/Refund
+Cheques
+. Applicants who have applied 1,000,000 Hong Kong Offer Shares or more through
+the White Form eIPO service and who have been successfully or partially
+successfully allocated Hong Kong Offer Sha res may collect Share certificate(s)
+and/or refund cheque(s) (where applicab le) personally from the Hong Kong Share
+Registrar, Computershare Hong Kong In vestor Services Limited at Shops
+1712–1716, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Wan Chai,
+Hong Kong, from 9 : 00 a.m. to 1 : 00 p.m. on Wednesday, 8 November 2023, or
+such other date as notified by the Company in the newspapers as the date of
+despatch/collection of Sha re certificates/e-Refund p ayment instructions/refund
+cheques.
+–7–
+
+
+--- page 6 ---
+. Applicants being individuals who are eli gible for personal collection may not
+authorise any other person to collect on their behalf. Applicants being
+corporations who are eligible for person al collection must attend through their
+authorised representatives bearing letter s of authorisation from their corporation
+stamped with the corporation’s c hop. Both individuals and authorised
+representatives must produce evidence o f identity acceptable to the Hong Kong
+Share Registrar at the time of collection.
+. If an applicant who does not collect his/her /its Share certificate(s) and/or refund
+cheque(s) (where applicable) personally w ithin the time specified for collection,
+they will be sent to the address specified i n his/her/its application instructions on
+or before Wednesday, 8 November 2023 by ordinary post at his/her/its own risk.
+. Share certificate(s) for applicants who have applied less than 1,000,000 Hong
+Kong Offer Shares through the White Form eIPO service will be sent to the
+address specified in his/her/its applica tion instructions on or before Wednesday, 8
+November 2023 by ordinary post at his/her/its own risk.
+. If an applicant has applied for the Hong Kong Offer Shares through the White
+Form eIPO service and paid the application monies from a single bank account,
+any refund monies will be despatched to that bank account in the form of
+e-Refund payment instruc tions. If an applicant has applied for and paid the
+application monies from multiple b ank accounts, any refund monies will be
+despatched to the address as specified in hi s/her/its applicatio n instructions in the
+form of refund cheque(s) in his/her/its name (or, in case of joint applicants, the
+first-named applicant) by ordinary post at his/her/its own risk. No interest will be
+paid thereon.
+. Wholly or partially successful applicants who have applied by giving electronic
+application instructions to HKSCC via CCASS will have their Share certificate(s)
+issued in the name of HKSCC Nominees and deposited into CCASS for the credit
+of the applicant’s designated CCASS Partic ipant’s stock account or the applicant’s
+CCASS Investor Participant stock ac count on Wednesday, 8 November 2023, or,
+on any other date determined by HKSCC or HKSCC Nominees.
+. Applicants who have applied through a desi gnated CCASS Participant (other than
+a CCASS Investor Participant) shou ld check the number of Hong Kong Offer
+Shares allotted to them and the amount of refund monies (if any) payable to them
+with that CCASS Participant.
+–8–
+
+
+--- page 7 ---
+. Applicants who have applied as a CCASS Investor Participant by giving electronic
+application instructions to HKSCC via CCASS should check and report any
+discrepancies to HKSCC before 5 : 00 p.m. on Wednesday, 8 November 2023 or
+such other date as determined by HKS CC or HKSCC Nominees. Applicants who
+have applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS can also check the number of Hong Kong
+Offer Shares allocated to them and the amount of refund monies (if any) payable
+to them via the CCASS Phone System and the CCASS Internet System (under the
+procedures contained in HKSCC’s ‘ ‘An Operating Guide for Investor
+Participants’’ in effect from time to time) on Wednesday, 8 November 2023.
+Immediately following the credit of the Hong Kong Offer Shares to the CCASS
+Investor Participants stock accounts a nd the credit of refund monies to the
+CCASS Investor Participants bank acco unts, HKSCC will also make available to
+the CCASS Investor Participant an act ivity statement showing the number of
+Hong Kong Offer Shares credited to the ir CCASS Investor Participant stock
+accounts and the amount of refund monies (if any) credited to their respective
+designated bank accounts.
+. Refund monies (if any) for applic ants who have applied by giving electronic
+application instructions to HKSCC via CCASS will be credited to their respective
+designated bank accounts or the design ated bank accounts of their respective
+brokers or custodians on Wednesday, 8 November 2023.
+. Share certificates will only become val id at 8 : 00 a.m. on Thursday, 9 November
+2023, provided that (i) the Global Off ering has become unconditional in all
+respects; and (ii) the right of termination as described in the section headed
+‘‘Underwriting — Underwriting Arr angements and Expenses — Hong Kong
+Public Offering — Grounds for termina tion’’ of the Prospectus has not been
+exercised. Investors who trade Shares pri or to the receipt of Share certificates or
+prior to the Share certificates being valid evidence of title do so entirely at their
+own risk.
+. No temporary evidence of title will be is sued in respect of the Shares. No receipt
+will be issued for sums paid on application.
+Public Float
+. Immediately after completion of the Global Offering and the Capitalisation Issue,
+(i) 331,970,140 Shares, representing appr oximately 64.38% of the issued Shares
+will be held in the public hands, satisfyi ng the minimum percentage requirement
+under Rule 8.08(1) of the Listing Rules; (i i) the three largest public Shareholders
+will not hold more than 50% of the Shares held in the public hands at the time of
+Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules; and (iii)
+there will be at least 300 Shareholders at the time of Listing in compliance with
+Rule 8.08(2) of the Listing Rules.
+–9–
+
+
+--- page 8 ---
+. The Directors confirm that immediately after the completion of the Global
+Offering, (i) no placee will, individually, be placed more than 10% of the enlarged
+issued share capital of the Company; and (ii) there will not be any new substantial
+shareholder (as defined in the Listing Rules) of the Company.
+C o m m e n c e m e n to fD e a l i n g s
+. Assuming that the Global Offering become s unconditional in all respects at or
+before 8 : 00 a.m. on Thursday, 9 November 2023, it is expected that dealings in the
+Shares on the Stock Exchange will c ommence at 9 : 00 a.m. on Thursday, 9
+November 2023. The Shares will be traded in board lots of 2,500 Shares each. The
+stock code of the Shares is 2473.
+In view of the high concentration of shareholding in a small number of Shareholders,
+Shareholders and prospective investors sh ould be aware that the price of the Shares could
+move substantially even with a small num ber of Shares traded, and should exercise
+extreme caution when dealing in the Shares.
+OFFER PRICE
+The final Offer Price has been determined at HK$1.10 per Offer Share (exclusive of
+brokerage of 1%, SFC transa ction levy of 0.0027%, Stock Exchange trading fee of
+0.00565% and AFRC transact ion levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the final Offer Price of HK$1.10 pe r Offer Share, the net proceeds from the
+Global Offering to be received by the Compa ny, after deduction of the underwriting
+commissions and other estima ted expenses payable by the Company in connection with
+the Global Offering, and given that the Ove r-allotment Option i s not exercised, are
+estimated to be approximately HK$28.8 mil lion. The Company intends to use such net
+proceeds as follows:
+. HK$17.5 million (equivalent to RMB16.5 mil lion or approximately 60.8% of the
+estimated net proceeds) for purchasing automobiles, so as to increase the Group’s
+revenue; and
+. HK$11.3 million (equivalent to RMB10.7 m illion or approximately 39.2% of our
+estimated net proceeds) for expanding the G roup’s sales network to increase market
+penetration.
+Please refer to the section headed ‘‘Future P lans and Use of Proceeds’’ in the Prospectus
+for further information.
+–1 0–
+
+
+--- page 9 ---
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+The Hong Kong Offer Shares initially offere d under the Hong Kong Public Offering have
+been significantly over-subscribed. A total o f 6,337 valid applications have been received
+pursuant to the Hong Kong Public Offering (being applications made through the White
+Form eIPO service and the CCASS EIPO service) for a total of 151,735,000 Hong Kong
+Offer Shares, representing approximately 14.71 times of the total number of 10,312,500
+Hong Kong Offer Shares initially available for subscription under the Hong Kong Public
+Offering, among which:
+. 6,326 valid applications in respect of a tota l of 107,235,000 Hong Kong Offer Shares
+were for the Hong Kong Public Offering with an aggregate subscription amount
+based on the maximum Offer Price of HK$1. 36 per Offer Share (excluding brokerage
+of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565%
+and AFRC transaction levy of 0.00015%) of HK$5 million or below, representing
+approximately 20.79 times of the 5,157 ,500 Hong Kong Offer Shares initially
+comprised in pool A; and
+. 11 valid applications in respect of a to tal of 44,500,000 Hong Kong Offer Shares
+were for the Hong Kong Public Offering with an aggregate subscription amount
+based on the maximum Offer Price of HK$1. 36 per Offer Share (excluding brokerage
+of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565%
+and AFRC transaction levy of 0.00015%) of over HK$5 million, representing
+approximately 8.63 times of the 5,155, 000 Hong Kong Offer Shares initially
+comprised in pool B.
+No application has been rejected due to inval id application. 6 multiple or suspected
+multiple applications were identified an d rejected. No dishonoured payment has been
+identified and rejected. No application fo r more than 5,155,000 Hong Kong Offer Shares
+(being the maximum number of Hong Kong Offe r Shares an applicant may apply for) has
+been identified.
+As the over-subscription in the Hong Kong P ublic Offering is less than 15 times, the
+reallocation procedures as described in the se ction headed ‘‘Structure and Conditions of
+the Global Offering — Hong Kong Public Offe ring — Reallocation’’ in the Prospectus
+have not been applied. The final number of Offer Shares under the Hong Kong Public
+Offering remains to be 10,312,500 Offer Share s, representing 10% of the total number of
+Offer Shares initially available under the Gl obal Offering, which have been allocated to
+1,316 successful applicants under the Hong Kong Public Offering, among which, 1,089
+Shareholders, representing a pproximately 82.8% of the Shareholders who were allocated
+Offer Shares under the Hong Kong Public Offering, were allocated with one board lot of
+the Offer Shares, totaling 2,722,500 Shares, r epresenting approximately 26.4% of the
+total Offer Shares under the Hong Kong Public Offering.
+–1 1–
+
+
+--- page 10 ---
+The Offer Shares offered in the Hong Kong Publ ic Offering were conditionally allocated
+on the basis set out in the section headed ‘ ‘Basis of Allocation under the Hong Kong
+Public Offering’’ below.
+THE INTERNATIONAL PLACING
+The International Placing Shares initially o ffered under the International Placing have
+been just sufficiently subscribed, represent ing approximately 1.007 times the number of
+International Placing Shares initially avai lable under the International Placing. The
+reallocation procedures as described in the se ction headed ‘‘Structure and Conditions of
+the Global Offering — The Hong Kong Public Offering — Reallocation’’ in the
+Prospectus have not been applied. The final number of International Placing Shares
+under the International Placing remains to b e 92,812,500 Offer Shares, representing 90%
+of the total number of Offer Shares initial ly available under the Global Offering.
+No over-allocation of Offer Shares has be en made and there are a total of 110 placees
+under the International Placing, among which 64 placees have been allotted five or fewer
+board lots of Offer Shares, representing ap proximately 58.2% of the 110 placees under
+the International Placing and 64 placees ha ve been allotted one board lot of Offer Shares,
+representing approximately 58.2% of the 110 placees under t he International Placing.
+CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
+OFFERING AND PLACEES IN THE INTERNATIONAL PLACING
+The International Placing has been conducted i n compliance with the Placing Guidelines
+for Equity Securities in Appendix 6 to the Li sting Rules. None of the Sole Sponsor, the
+Sole Overall Coordinator, the Sole Global Coor dinator, the Joint Bookrunners, the Joint
+Lead Managers, the Underwriters and the ir respective affiliated companies and
+connected clients of the lead broker or of any distributors (as defined in the Placing
+Guidelines) has taken up any Offer Shares f or its own benefit under the Global Offering.
+To the best knowledge of the Company, (i) none of the Offer Shares subscribed for by
+public Shareholders in the Hong Kong Public Offering and placees in the International
+Placing has been financed directly, or indire ctly by the Company, the Directors, the chief
+executive of the Company, the single largest Sha reholder, the substanti al shareholders (as
+defined in the Listing Rules) of the Compan y, existing Shareholders, or any of their
+subsidiaries or their respective close associ ates; (ii) none of the public Shareholders in the
+Hong Kong Public Offering and placees in the International Placing who has subscribed
+f o rt h eO f f e rS h a r e si sa c c u s t o m e dt ot a king instructions from the Company, the
+Directors, the chief executive of the Compa ny, the single largest Shareholder, the
+substantial shareholders (as defined in t he Listing Rules) of the Company, existing
+Shareholders, or any of their subsidiaries or th eir respective close associates in relation to
+the acquisition, disposal, voting or other di sposition of the Share sr e g i s t e r e di nt h e i r
+name or otherwise held by them; (iii) no rebate has been, directly or indirectly, provided
+by the Company, the Directors, the chief ex ecutive of the Company, the single largest
+Shareholder, the substantial shareholders (as defined in the Listing Rules) of the
+–1 2–
+
+
+--- page 11 ---
+Company, the existing Sharehold ers, or any of their subsidiaries or their respective close
+associates, or syndicate members or any brokers or underwriters to any public
+Shareholders in the Hong Kong Public O ffering or placees in the International
+Placing; (iv) the consideration payable by the public Shareholders in the Hong Kong
+Public Offering and placees in the Internati onal Placing for each Offer Share subscribed
+for or purchased by them is the same as the final Offer Price as determined by the
+Company, in additional to brokerage of 1.0% , SFC transaction levy of 0.0027%, Stock
+Exchange trading fee of 0.00565% and AFRC transaction levy of 0.00015%; and (v)
+there is no side agreement or arrangement be tween the Company, any of the Directors,
+the chief executive of the Company, the sing le largest Shareholder, the substantial
+shareholders (as defined in the Listing Rule s) of the Company, the existing Shareholders,
+or any of their subsidiaries or their respect ive close associates or syndicate members or
+any other brokers or underwriters, on one h and, and the public Shar eholder or the placee
+who has subscribed for the Offer Shares, on the other hand.
+The Directors confirm that, to the best of t heir knowledge, information and belief, no
+Offer Shares under the International Placi ng placed by or through the Sole Overall
+Coordinator, the Sole Global Coordinator , the Joint Bookrunners, the Joint Lead
+Managers or the Underwriters under the Glob al Offering have been placed with any core
+connected persons (as defined in the Listing Rules) of the Company, or to any connected
+clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons set out in
+paragraph 5(2) of the Placing Guideline s, whether in their own names or through
+nominees.
+OVER-ALLOTMENT OPTION
+In connection with the Global Offering, the Company has granted the Over-allotment
+Option to the International Underwriters, e xercisable by the Sole Overall Coordinator
+(for itself and on behalf of the Internationa l Underwriters), at any time from the Listing
+Date until Saturday, 2 December 2023, bein g the 30th day after the last day for lodging
+applications under the Hong Kong Public Offe ring, pursuant to which the Company may
+b er e q u i r e dt oa l l o ta n di s s u eu pt oa na g g regate of 15,468,750 additional new Shares,
+representing 15% of the initial number o f Offer Shares offered under the Global
+Offering, at the Offer Price to cover the over -allocation in the International Placing.
+The Sole Overall Coordinator confirmed tha t no over-allocation of the Offer Shares
+under the International Placing has been made. Accordingly, the Stock Borrowing
+Agreement has not been and will not be entere d into, and the Over-allotment Option has
+not been and will not be exercised. In view of the fact that there has been no
+over-allocation of the Offer Shares under the In ternational Placing, no stabilising actions
+as described in the Prospectus will take place during the stabilising period.
+–1 3–
+
+
+--- page 12 ---
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions s et out in the paragraph headed ‘‘Structure
+and Conditions of the Global Offering — Condi tions of the Global Offering’’ in the
+Prospectus, 6,337 valid applicat ions made by the public through the White Form eIPO
+service and the CCASS EIPO service will be conditionally allocated on the basis set out
+below:
+NO. OF SHARES
+APPLIED FOR
+NO. OF VALID
+APPLICATIONS BASIS O F ALLOTMENT/BALLOT
+APPROXIMATE
+PERCENTAGE
+ALLOTTED OF
+THE TOTAL NO.
+OF SHARES
+APPLIED FOR
+POOL A
+2,500 3,788 256 out of 3,788 to receive 2,500 Shares 6.76%
+5,000 1,205 163 out of 1,205 to receive 2,500 Shares 6.76%
+7,500 138 28 out of 138 to receive 2,500 Shares 6.76%
+10,000 105 28 out of 105 to receive 2,500 Shares 6.67%
+12,500 68 22 out of 68 to receive 2,500 Shares 6.47%
+15,000 50 19 out of 50 to receive 2,500 Shares 6.33%
+17,500 21 9 out of 21 to receive 2,500 Shares 6.12%
+20,000 41 20 out of 41 to receive 2,500 Shares 6.10%
+22,500 11 6 out of 11 to receive 2,500 Shares 6.06%
+25,000 43 26 out of 43 to receive 2,500 Shares 6.05%
+30,000 29 20 out of 29 to receive 2,500 Shares 5.75%
+35,000 557 439 out of 557 to receive 2,500 Shares 5.63%
+40,000 10 9 out of 10 to receive 2,500 Shares 5.63%
+45,000 8 2,500 Shares 5.56%
+50,000 11 2,500 Shares plus 1 out of 11 to receive
+additional 2,500 Shares
+5.45%
+60,000 7 2,500 Shares plus 2 out of 7 to receive
+additional 2,500 Shares
+5.36%
+70,000 28 2,500 Shares plus 14 out of 28 to receive
+additional 2,500 Shares
+5.36%
+80,000 15 2,500 Shares plus 10 out of 15 to receive
+additional 2,500 Shares
+5.21%
+90,000 11 2,500 Shares plus 9 out of 11 to receive
+additional 2,500 Shares
+5.05%
+100,000 83 5,000 Shares 5.00%
+150,000 22 7,500 Shares 5.00%
+200,000 9 7,500 Shares plus 7 out of 9 to receive
+additional 2,500 Shares
+4.72%
+250,000 20 10,000 Shares plus 13 out of 20 to receive
+additional 2,500 Shares
+4.65%
+300,000 9 12,500 Shares plus 5 out of 9 to receive
+additional 2,500 Shares
+4.63%
+–1 4–
+
+
+--- page 13 ---
+NO. OF SHARES
+APPLIED FOR
+NO. OF VALID
+APPLICATIONS BASIS O F ALLOTMENT/BALLOT
+APPROXIMATE
+PERCENTAGE
+ALLOTTED OF
+THE TOTAL NO.
+OF SHARES
+APPLIED FOR
+350,000 7 15,000 Shares plus 3 out of 7 to receive
+additional 2,500 Shares
+4.59%
+400,000 4 17,500 Shares plus 1 out of 4 to receive
+additional 2,500 Shares
+4.53%
+450,000 1 20,000 Shares 4.44%
+500,000 3 20,000 Shares plus 1 out of 3 to receive
+additional 2,500 Shares
+4.17%
+600,000 3 22,500 Shares plus 1 out of 3 to receive
+additional 2,500 Shares
+3.89%
+700,000 3 25,000 Shares plus 2 out of 3 to receive
+additional 2,500 Shares
+3.81%
+800,000 1 27,500 Shares 3.44%
+1,000,000 8 32,500 Shares 3.25%
+1,500,000 1 47,500 Shares 3.17%
+2,000,000 1 62,500 Shares 3.13%
+2,500,000 1 70,000 Shares 2.80%
+3,000,000 1 77,500 Shares 2.58%
+3,500,000 3 90,000 Shares 2.57%
+6,326 Total number of Pool A successful
+applicants: 1,305
+POOL B
+4,000,000 10 465,000 Shares 11.63%
+4,500,000 1 505,000 Shares 11.22%
+11 Total number of Pool B successful
+applicants: 11
+The final number of Offer Shares compris ing the Hong Kong Public Offering is
+10,312,500 Offer Shares, representing 10% o f the total number of the Offer Shares
+initially available under the Global Offering.
+–1 5–
+
+
+--- page 14 ---
+LOCK-UP UNDERTAKINGS
+The Company and the single largest Shareholder are subject to certain lock-up
+undertakings (the ‘‘ Lock-up Undertakings ’’) in respect of the Shares. The major terms
+of the Lock-up Undertakings are set out as follows:
+Name
+Number of Shares
+subject to the
+Lock-up
+Undertakings
+after Listing
+Approximate
+percentage of the total
+issued share capital of
+the Company
+following the
+completion of the
+Global Offering which
+are subject to the
+Lock-up Undertakings
+upon Listings
+Last day of the
+lock-up period
+The Company (1)
+(subject to lock-up
+obligations
+pursuant to the
+Listing Rules and
+the Underwriting
+Agreements)
+N/A N/A 8 May 2024
+(First Six-Month
+Period);
+8N o v e m b e r2 0 2 4
+(Second Six-Month
+Period)
+Mr. Huang
+(2)
+(subject to lock-up
+obligations
+pursuant to the
+Underwriting
+Agreements)
+128,610,355 24.94% 8 May 2024
+(First Six-Month
+Period);
+8N o v e m b e r2 0 2 4
+(Second Six-Month
+Period)
+Total 128,610,355 24.94%
+Notes:
+1. The Company may not, among others, issue or agr ee to issue or publicly announce its intention to
+issue Shares or securities of the Company during th e First Six-Month Period except for the issue of
+the Shares pursuant to the Global Offering, th e Capitalisation Issue, the exercise of the
+Over-allotment Option, the grant of options under the Share Option Scheme and the allotment and
+issue of Shares on the exercise thereof or the exercise of any option granted under the Pre-IPO Share
+Option Scheme or as otherwise with the prior written consent of the Sole Sponsor and the Sole
+Overall Coordinator, and unless in compliance wit h the Listing Rules. In the event the Company does
+so by virtue of the aforesaid exceptions or during the Second Six-Month Period, the Company will
+take all reasonable steps to ensure that such action will not create a disorderly or false market in any
+of the Shares or other securities of the Company. For details of the lock-up arrangements of the
+–1 6–
+
+
+--- page 15 ---
+Company, please refer to the paragraphs head ed ‘‘Underwriting — Hong Kong Underwriting
+Agreement — Undertakings given to the Hong Kong Underwriters — Undertakings by our
+Company’’ in the Prospectus.
+2. Mr. Huang, the single largest Shareholder, may not, among others, transfer or dispose of or agree to
+transfer or dispose of or publicly announce any intention to transfer or dispose of any Shares or
+securities of the Company during the First Six-Month Period. Mr. Huang may not, among others,
+enter into or agree to or publicly announce any intention to enter into transfer or disposal of any
+Shares or securities of the Company during the Second Six-Month Period except with the prior
+written consent of the Sole Sponsor and the Sole Ov erall Coordinator, and unless in compliance with
+the Listing Rules, if, immediately following such transfer or disposal, he will cease to be the single
+largest Shareholder. For details of the lock-up arrangement of Mr. Huang, please refer to the
+paragraph headed ‘‘Underwriting — Hong Kong Und erwriting Agreement — Undertakings given to
+the Hong Kong Underwriters — By Mr. Huang’’.
+RESULTS OF ALLOCATIONS
+The final Offer Price, the level of indications of interest in the International Placing, the
+level of applications in the Hong Kong Public Offering and the basis of allocation of the
+Hong Kong Offer Shares are also publ ished on the Company’s website at www.xxfqc.com
+and the Stock Exchange’s website at www.hkexnews.hk on Wednesday, 8 November 2023.
+The results of allocations in the Hong Kong Pub lic Offering (with successful applicants’
+identification document numbers, where a ppropriate) will be available at the times and
+dates and in the manner set out below:
+(i) in the announcement to be posted on the Company’s website at www.xxfqc.com and
+the Stock Exchange’s website at www.hkexnews.hk by no later than 9 : 00 a.m. on
+Wednesday, 8 November 2023;
+(ii) from the designated resul ts of allocations websites at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
+https://www.eipo.com. hk/zh-hk/Allotment ) with a ‘‘search by ID’’ function from
+8 : 00 a.m. on Wednesday, 8 November 2023 to 12 : 00 midnight on Tuesday, 14
+November 2023; and
+(iii) by telephone enquiry line by calli ng +852 2862 8555 between 9 : 00 a.m. and
+6 : 00 p.m. from Wednesday, 8 November 2023 to Monday, 13 November 2023
+(excluding Saturday, Sunday and public holiday in Hong Kong).
+This announcement contains a list of identific ation document numbers. Identification
+document numbers shown in the section he aded ‘‘Results of Applications Made by White
+Form eIPO service’’ in this announcement refer to Hong Kong identity card
+numbers/passport numbers/Hong Kong busines s registration numbers/certificate of
+incorporation numbers/benefi cial owner identification codes (if such applications are
+made by nominees as agent for the benefit of a nother person) whereas those displayed in
+the section headed ‘‘Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS’’ in this announcement are provided by CCASS
+–1 7–
+
+
+--- page 16 ---
+Participants via CCASS. Therefore, the ide ntification document numbers shown in the
+two sections are different in nature. Please note that the list of identification document
+numbers set out in this announcement may not b e a complete list of successful applicants
+since only successful applicants whose identif ication document numbers are provided to
+HKSCC by CCASS Participants are disclosed. A pplicants with beneficial names only but
+not identification document numbers are not disclosed due to personal privacy issue as
+elaborated below. Applicants who applied f or the Hong Kong Offer Shares through their
+brokers can consult their brokers to enqui re about their application results.
+Since applications are subject to personal infor mation collection statements, beneficial
+owner identification codes displayed in the se ctions headed ‘‘Results of Applications
+Made by White Form eIPO service’’ and ‘‘Results of Applications Made by Giving
+Electronic Application Instructions to HKSCC via CCASS’’ are redacted and not all
+details of applications are disclosed in this announcement.
+SHAREHOLDING CONCENTRATION ANALYSIS
+We set out below an analysis of shareholding co ncentration in the International Placing:
+. subscription and number of Shares held by the top 1, 5, 10, 20 and 25 of the placees
+out of the International Placing, total Offe r Shares and total issued share capital of
+the Company upon Listing:
+Placee
+Number of
+Shares
+subscribed
+for
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Placing
+Subscription
+as % of total
+Offer Shares
+Total
+shareholding
+as % of total
+issued share
+capital upon
+Listing
+Top 1 13,397,500 13,397,500 14.4% 13.0% 2.6%
+Top 5 36,080,000 36,080,000 38.9% 35.0% 7.0%
+Top 10 59,060,000 59,060,000 63.6% 57.3% 11.5%
+Top 20 77,402,500 77,402,500 83.4% 75.1% 15.0%
+Top 25 81,740,000 81,740,000 88.1% 79.3% 15.9%
+–1 8–
+
+
+--- page 17 ---
+. subscription and numbers of Shares held by the top 1, 5, 10, 20 and 25 of all
+Shareholders out of the International Pla cing, total Offer Shares and total issued
+share capital of the Company upon Listing:
+Shareholder
+Number of
+Shares
+subscribed
+for
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Placing
+Subscription
+as % of total
+Offer Shares
+Total
+shareholding
+as % of total
+issued share
+capital upon
+Listing
+Top 1 — 128,610,355 0 0 24.9%
+Top 5 — 317,141,699 0 0 61.5%
+Top 10 13,397,500 391,907,848 14.4% 13.0% 76.0%
+Top 20 50,642,500 448,582,551 54.6% 49.1% 87.0%
+Top 25 61,767,500 468,061,470 66.6% 59.9% 90.8%
+In view of the high concentration of sharehol ding in a small number of Shareholders,
+Shareholders and prospective investors sh ould 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.
+–1 9–
diff --git a/data/extracted_text/02481/allotment_results_summary_2023-07-07_2023070700064.txt b/data/extracted_text/02481/allotment_results_summary_2023-07-07_2023070700064.txt
new file mode 100644
index 0000000..dec9a24
--- /dev/null
+++ b/data/extracted_text/02481/allotment_results_summary_2023-07-07_2023070700064.txt
@@ -0,0 +1,803 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+OFFER PRICE
+• The Offer Price has been determined at HK$3.60 per Offer Share (exclusive of brokerage
+of 1%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock
+Exchange trading fee of 0.00565%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+• Based on the Offer Price of HK$3.60 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and estimated expenses payable by the Company in connection with the
+Global Offering, are estimated to be approximately HK$187.5 million. The Company
+intends to use the net proceeds from the Global Offering in accordance with the purposes
+as set out in the section headed “Net Proceeds from the Global Offering ” in this
+announcement.
+• As no over-allocation of International Offer Shares has been made, the Over-allotment
+Option has not been and will not be exercised, and no additional proceeds are expected to
+be received by the Company in this connection.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been moderately over-subscribed. A total of 1,373 valid applications have been received
+pursuant to the Hong Kong Public Offering through the White Form eIPO service and
+through the CCASS EIPO service for a total of 11,619,000 Hong Kong Offer Shares,
+representing approximately 1.54 times of the total number of 7,560,000 Hong Kong Offer
+Shares initially available for subscription under the Hong Kong Public Offering.
+• As the over-subscription in the Hong Kong Public Offering is less than 15 times of the
+total number of the Offer Shares initially available for subscription under the Hong Kong
+Public Offering, the reallocation procedure as described in the section headed “Structure of
+the Global Offering { Hong Kong Public Offering – Reallocation ” in the Prospectus has
+not taken place. The final number of Offer Shares under the Hong Kong Public Offering
+is 7,560,000 Offer Shares, representing 10% of the total number of Offer Shares initially
+available under the Global Offering, which have been allocated to 1,373 successful
+applicants under the Hong Kong Public Offering.
+
+
+--- page 2 ---
+4
+INTERNATIONAL OFFERING
+• The Offer Shares initially offered under the International Offering have been slightly over-
+subscribed, representing approximately 1.35 times of the total number of Offer Shares
+initially available under the International Offering. The final number of International Offer
+Shares available under the International Offering is 68,040,000 Shares, representing 90%
+of the total number of Offer Shares initially available under the Global Offering (given that
+the Over-allotment Option has not been and will not be exercised).
+• There are a total of 153 placees under the International Offering. A total of 100 placees
+have been allotted five board lots of International Offer Shares or less, representing
+approximately 65.36% of the total number of placees under the International Offering.
+A total of 96 placees have been allotted one board lot of International Offer Shares,
+representing approximately 62.75% of the total number of placees under the International
+Offering.
+• The International Offering has been conducted in compliance with the Placing Guidelines
+for Equity Securities as set out in Appendix 6 to the Listing Rules (the “Placing
+Guidelines ”). None of the Offer Shares were allocated to any core connected person as
+defined in the Listing Rules, Directors or existing Shareholders, or their respective close
+associates (as such term is defined in the Listing Rules), or persons set out in paragraphs
+5(1) and 5(2) of the Placing Guidelines, whether in their own names or through nominees.
+None of the Sole Sponsor, the Sponsor-OC, the Overall Coordinator, the Sole Global
+Coordinator, the Joint Bookrunners, the Joint Lead Managers, the Co-Managers, the
+Underwriters, the Capital Market Intermediaries or their respective affiliated companies
+and connected clients (as set out in Appendix 6 to the Listing Rules) has taken up any
+Offer Shares for its own benefit under the Global Offering.
+
+
+--- page 3 ---
+5
+CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
+OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
+• The Directors confirm that, to the best of their knowledge, information and belief, (i) none
+of the Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering
+and placees in the International Offering has been directly or indirectly financed by the
+Company, any of the Directors, supervisors, chief executive, Controlling Shareholders,
+substantial Shareholders, existing Shareholders of the Company or any of its subsidiaries
+or any of their respective close associates; and (ii) none of the public Shareholders in the
+Hong Kong Public Offering and placees in the International Offering who have subscribed
+for the Offer Shares is accustomed to taking instructions from the Company, any of the
+Directors, supervisors, chief executive, Controlling Shareholders, substantial Shareholders,
+existing Shareholders of the Company or any of its subsidiaries or any of their respective
+close associates in relation to the acquisition, disposal, voting or other disposition of the
+Shares registered in their name or otherwise held by them.
+Over-allotment Option
+• No over-allocation of International Offer Shares has been made. Accordingly, the Over-
+allotment Option has not been and will not be exercised. In view of the fact that there has
+been no over-allocation in the International Offering, there has been no delayed delivery
+arrangement with any investor under the International Offering, and no stabilisation
+activities as described in the Prospectus are expected to take place during the stabilising
+period (which will begin on the Listing Date and end on the 30th day after the last day
+for the lodging of applications under the Hong Kong Public Offering, i.e. Wednesday, 2
+August 2023).
+Cornerstone Investor
+• Based on the Offer Price of HK$3.60 per Offer Share (inclusive of brokerage fee, SFC
+transaction levy, AFRC transaction levy and Stock Exchange trading fee), pursuant to the
+Cornerstone Investment Agreement, the Cornerstone Investor has agreed to subscribe for
+a total of 14,823,000 H Shares, representing in aggregate approximately (i) 19.6% of the
+Offer Shares, given that the Over-allotment Option has not been and will not be exercised;
+(ii) 4.9% of the total Shares in issue upon completion of the Global Offering, given that the
+Over-allotment Option has not been and will not be exercised.
+• Please refer to the section headed “Cornerstone Investor ” in the Prospectus for further
+details of the Cornerstone Investor.
+LOCK-UP OBLIGATIONS
+• The Company, each of the Controlling Shareholders, the existing Shareholders and the
+Cornerstone Investor are subject to certain lock-up obligations as set out in the section
+headed “Lock-up Obligations ” in this announcement.
+SHAREHOLDING CONCENTRATION ANALYSIS
+• A shareholding concentration analysis based on the allotment results under the Global
+Offering is set out in the section headed “Shareholding Concentration Analysis ” in this
+announcement.
+
+
+--- page 4 ---
+6
+RESULTS OF ALLOCATIONS
+• The final Offer Price, the level of indication of interest in the International Offering and the
+results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the White Form eIPO service or through the CCASS
+EIPO service, including the Hong Kong identity card/passport/Hong Kong business
+registration numbers of successful applicants under the Hong Kong Public Offering will be
+available at the times and dates and in the manner specified below:
+• in this announcement posted on the Company ’s website at http://www.hjkj.cn and
+the Stock Exchange ’s website at www.hkexnews.hk by no later than 8:00 a.m. on
+Friday, 7 July 2023. Please note that the list of identification document numbers in this
+announcement may not be a complete list of successful applicants since only successful
+applicants whose identification document numbers are provided to HKSCC by CCASS
+Participants are disclosed. Applicants with beneficial names only but not identification
+document numbers are not disclosed due to personal privacy issue as elaborated below.
+Applicants who applied for the H Shares through their brokers can consult their brokers to
+enquire about their application result;
+• from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID ” function on a 24-hour
+basis from 8:00 a.m. on Friday, 7 July 2023 to 12:00 midnight on Thursday, 13 July 2023;
+and
+• from the allocation results telephone enquiry line by calling +852 2862 8555 between 9:00
+a.m. and 6:00 p.m. on Friday, 7 July 2023, Monday, 10 July 2023, Tuesday, 11 July 2023
+and Wednesday, 12 July 2023.
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by White
+Form eIPO ” refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner
+identification codes (if such applications are made by nominees as agent for the benefit of
+another person) whereas those displayed in the section headed “Results of Applications
+Made by Giving Electronic Application Instructions to HKSCC via CCASS ” are provided
+by CCASS Participants via CCASS. Therefore, the identification document numbers shown
+in the two sections are different in nature.
+• Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications
+Made by White Form eIPO ” and “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” are redacted and not all details of
+applications are disclosed in this announcement.
+
+
+--- page 5 ---
+7
+DESPATCH/COLLECTION OF H SHARE CERTIFICATES/e -REFUND PAYMENT
+INSTRUCTIONS/REFUND CHEQUES
+• Applicants who applied for 1,000,000 Hong Kong Offer Shares or more through the White
+Form eIPO service and who have been successfully or partially successfully allocated
+Hong Kong Offer Shares and are eligible to collect H Share certificates in person may
+collect H Share certificates from the H Share Registrar, Computershare Hong Kong
+Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen ’s
+Road East, Wan Chai, Hong Kong from 9:00 a.m. to 1:00 p.m. on Friday, 7 July 2023, or
+any other place or date notified by the Company as the date of despatch/collection of H
+Share certificates/e-Refund payment instructions/refund cheques.
+• If an applicant does not collect his/her/its H Share certificate(s) and/or refund cheque(s)
+(where applicable) personally within the time specified for collection, they will be sent to
+the address specified in his/her/its application instructions by ordinary post at his/her/its
+own risk.
+• H Share certificates for Hong Kong Offer Shares allotted to applicants who applied for
+less than 1,000,000 Hong Kong Offer Shares through the White Form eIPO service
+are expected to be despatched to those entitled to the address specified in the relevant
+application instructions through the White Form eIPO service by ordinary post at their
+own risk on or before Friday, 7 July 2023.
+• H Share certificates for Hong Kong Offer Shares allotted to applicants who applied through
+the White Form eIPO service, which are either not available for personal collection, or
+which are available but are not collected in person by 1:00 p.m. on Friday, 7 July 2023, are
+expected to be despatched by ordinary post to those entitled to the addresses specified in
+the relevant applications at their own risk on or before Friday, 7 July 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their H Share certificate(s) issued in the
+name of HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participants who gave electronic application instructions on their behalf on Friday, 7 July
+2023, or on any other date determined by HKSCC or HKSCC Nominees.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them with that CCASS Participant.
+
+
+--- page 6 ---
+8
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
+before 5:00 p.m. on Friday, 7 July 2023 or such other date as shall be determined by
+HKSCC or HKSCC Nominees. Applicants who applied as a CCASS Investor Participant
+by giving electronic application instructions to HKSCC via CCASS may also check the
+results of their applications and the amount of refund monies payable to them via the
+CCASS Phone System and the CCASS Internet System (under the procedures contained
+in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time to time)
+immediately after the crediting of the Hong Kong Offer Shares to the CCASS Investor
+Participants stock accounts and the crediting of the refund monies to the CCASS Investor
+Participants bank accounts. HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the number of Hong Kong Offer Shares credited
+to their stock accounts and the refund amount credited to their respective designated bank
+accounts (if any).
+• Applicants who applied through the White Form eIPO service and paid the application
+monies through a single bank account will have refund monies (if any) despatched to their
+application payment bank account in the form of e-Refund payment instructions. Applicants
+who have applied through the White Form eIPO service and paid the application monies
+through multiple bank accounts will have refund monies (if any) despatched to the
+addresses specified on the White Form eIPO application in the form of refund cheque(s)
+in favour of the applicant (or, in the case of joint applications, the first-named applicant)
+by ordinary post at their own risk on or before Friday, 7 July 2023.
+• Refund monies (if any) for applicants who applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their broker or custodian on
+Friday, 7 July 2023.
+• H Share certificates will only become valid evidence of title at 8:00 a.m. on Monday, 10
+July 2023, provided that the Global Offering has become unconditional in all respects
+at or before that time and the right of termination as described in the paragraph headed
+“Underwriting { Underwriting Arrangements and Expenses – Hong Kong Public Offering
+{ Grounds for termination ” in the Prospectus has not been exercised.
+• The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+
+
+--- page 7 ---
+9
+PUBLIC FLOAT
+• The Directors confirm that immediately following the completion of the Global Offering,
+(a) no placee will, individually, be placed more than 10% of the enlarged issued share
+capital of the Company immediately after the Global Offering; (b) there will not be any
+new substantial shareholder (as defined in the Listing Rules) of the Company immediately
+after the Global Offering; (c) the total number of H Shares of the Company held by the
+public represents at least 25% of the Company ’s total number of issued Shares, and the
+Company will have a market capitalisation of at least HK$125 million held by the public,
+satisfying Rules 8.08(1) and 8.09(1) of the Listing Rules; (d) the three largest public
+Shareholders do not hold more than 50% of the H Shares held in public hands at the time
+of the Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules; and (e) 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
+• Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. in Hong
+Kong on Monday, 10 July 2023, it is expected that dealings in the H Shares on the Stock
+Exchange will commence at 9:00 a.m. in Hong Kong on Monday, 10 July 2023. The H
+Shares will be traded in board lots of 1,000 H Shares each and the stock code of the H
+Shares will be 2481.
+In view of the high concentration of shareholding in a small number of Shareholders,
+Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of H Shares traded, and should
+exercise extreme caution when dealing in the H Shares.
+OFFER PRICE
+The Offer Price has been determined at HK$3.60 per Offer Share (exclusive of brokerage of 1%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
+fee of 0.00565%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$3.60 per Offer Share, the net proceeds from the Global Offering
+to be received by the Company, after deduction of the underwriting fees and commissions and
+estimated expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$187.5 million. The Company intends to use the net proceeds for the
+following purposes:
+• approximately HK$93.7 million (equivalent to approximately RMB85.3 million), representing
+approximately 50.0% of the net proceeds from the Global Offering, will be used for
+construction of new peak-shaving boiler (which will be a coal-fired boiler) in our heat source
+peak-shaving station for our Lanzhou New Area Project (ணධ
+ͦ) (the “Lanzhou Peak-shaving Boiler Construction ”). The construction activities mainly
+consist of (i) construction of new coal-fired boiler and relevant supporting equipment; (ii)
+construction of heat source peak-shaving station and supporting infrastructure; and (iii) other
+ancillary construction activities such as installation of transmission line.
+
+
+--- page 8 ---
+10
+• approximately HK$75.0 million (equivalent to approximately RMB68.2 million), representing
+approximately 40.0% of the net proceeds from the Global Offering, will be used for the
+construction of primary distribution pipelines and heat service facilities, procurement of
+relevant equipment and devices for our heat service operation and future expansion of
+our Xinmi Project (ධͦ ) (the “Xinmi Project Preparation and
+Expansion ”). The Xinmi Project Preparation and Expansion includes (i) construction of
+primary distribution pipeline networks; (ii) procurement of raw materials for the construction
+of primary distribution pipeline networks; and (iii) engagement of third-party contractors for
+construction related services including design and consultancy services.
+F
+• approximately HK$18.8 million (equivalent to approximately RMB17.1 million), representing
+approximately 10.0% of the net proceeds from the Global Offering, will be used as working
+capital and other general corporate purposes.
+As no over-allocation of International Offer Shares has been made, the Over-allotment Option has
+not been and will not be exercised, and no additional proceeds are expected to be received by the
+Company in this connection.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
+moderately over-subscribed. A total of 1,373 valid applications have been received pursuant to the
+Hong Kong Public Offering through the White Form eIPO service and through the CCASS EIPO
+service for a total of 11,619,000 Hong Kong Offer Shares, representing approximately 1.54 times
+of the total number of 7,560,000 Hong Kong Offer Shares initially available for subscription under
+the Hong Kong Public Offering, among which:
+• 1,370 valid applications in respect of a total of 6,619,000 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount based on the
+maximum Offer Price of HK$4.20 per Offer Share (excluding brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%) of HK$5 million or less, representing approximately 1.75 times
+of the 3,780,000 Hong Kong Offer Shares initially comprised in Pool A of the Hong Kong
+Public Offering; and
+• 3 valid applications in respect of a total of 5,000,000 Hong Kong Offer Shares were for the
+Hong Kong Public Offering with an aggregate subscription amount based on the maximum
+Offer Price of HK$4.20 per Offer Share (excluding brokerage of 1.0%, SFC transaction
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee
+of 0.00565%) of more than HK$5 million, representing approximately 1.32 times of the
+3,780,000 Hong Kong Offer Shares initially comprised in Pool B of the Hong Kong Public
+Offering.
+No application has been rejected due to invalid application. No multiple or suspected multiple
+application has been identified and rejected. No application has been rejected due to dishonored
+payments. No application for more than 3,780,000 Hong Kong Offer Shares (being 50% of the
+Hong Kong Offer Shares initially available under the Hong Kong Public Offering) has been
+identified.
+
+
+--- page 9 ---
+11
+As the over-subscription in the Hong Kong Public Offering is less than 15 times of the total
+number of the Offer Shares initially available for subscription under the Hong Kong Public
+Offering, and the Overall Coordinator and the Sole Global Coordinator have decided not to
+exercise their authority to reallocate Offer Shares originally included in the International Offering
+to the Hong Kong Public Offering in accordance with the Guidance Letter HKEX-GL91-18, no
+reallocation procedure as described in the section headed “Structure of the Global Offering {
+Hong Kong Public Offering – Reallocation ” in the Prospectus has taken place. The final number
+of Offer Shares under the Hong Kong Public Offering is 7,560,000 Offer Shares, representing
+10% of the total number of Offer Shares initially available under the Global Offering, which have
+been allocated to 1,373 successful applicants under the Hong Kong Public Offering. A total of 921
+applicants have been allotted with one board lot of Offer Shares.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offering ”
+below.
+INTERNATIONAL OFFERING
+The Offer Shares initially offered under the International Offering have been slightly
+over-subscribed. A total of 91,656,000 International Offer Shares have been subscribed,
+representing approximately 1.35 times of the total number of Offer Shares initially available under
+the International Offering. The final number of International Offer Shares available under the
+International Offering is 68,040,000 Shares, representing 90% of the total number of Offer Shares
+initially available under the Global Offering.
+There are a total of 153 placees under the International Offering. No over-allocation of
+International Offer Shares has been made. A total of 100 placees have been allotted five board lots
+of International Offer Shares or less, representing approximately 65.36% of the total number of
+placees under the International Offering. These placees have been allotted approximately 0.15%
+of the International Offer Shares initially available under the International Offering. A total of 96
+placees have been allotted one board lot of International Offer Shares, representing approximately
+62.75% of the total number of placees under the International Offering. These placees have
+been allotted approximately 0.14% of the International Offer Shares initially available under the
+International Offering.
+The International Offering has been conducted in compliance with the Placing Guidelines. None
+of the Offer Shares were allocated to any core connected person as defined in the Listing Rules,
+Directors or existing Shareholders, or their respective close associates (as such term is defined
+in the Listing Rules), or persons set out in paragraphs 5(1) and 5(2) of the Placing Guidelines,
+whether in their own names or through nominees. None of the Sole Sponsor, the Sponsor-OC, the
+Overall Coordinator, the Sole Global Coordinator, the Joint Bookrunners, the Joint Lead Managers,
+the Co-Managers, the Underwriters, the Capital Market Intermediaries or their respective affiliated
+companies and connected clients (as set out in Appendix 6 to the Listing Rules) has taken up any
+Offer Shares for its own benefit under the Global Offering.
+
+
+--- page 10 ---
+12
+CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
+OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
+The Directors confirm that, to the best of their knowledge, information and belief, (i) none of the
+Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering and placees
+in the International Offering has been directly or indirectly financed by the Company, any of
+the Directors, supervisors, chief executive, Controlling Shareholders, substantial Shareholders,
+existing Shareholders of the Company or any of its subsidiaries or any of their respective close
+associates; and (ii) none of the public Shareholders in the Hong Kong Public Offering and placees
+in the International Offering who have subscribed for the Offer Shares is accustomed to taking
+instructions from the Company, any of the Directors, supervisors, chief executive, Controlling
+Shareholders, substantial Shareholders, existing Shareholders of the Company or any of its
+subsidiaries or any of their respective close associates in relation to the acquisition, disposal,
+voting or other disposition of the Shares registered in their name or otherwise held by them.
+Over-allotment Option
+In connection with the Global Offering, the Company has granted the Over-allotment Option
+to the International Underwriters, exercisable by the Overall Coordinator and the Sole Global
+Coordinator on behalf of the International Underwriters, at any time within 30 days from the last
+day for lodging applications under the Hong Kong Public Offering (the last day for exercise of
+the Over-allotment Option being Wednesday, 2 August 2023), to require the Company to allot and
+issue up to 11,340,000 additional H Shares, representing 15% of the number of H Shares initially
+being offerred under the Global Offering, at the Offer Price to solely cover over-allocations in the
+International Offering.
+No over-allocation of International Offer Shares has been made. Accordingly, the Over-allotment
+Option has not been and will not be exercised. In view of the fact that there has been no
+over-allocation in the International Offering, there has been no delayed delivery arrangement with
+any investor under the International Offering, and no stabilisation activities as described in the
+Prospectus are expected to take place during the stabilising period (which will begin on the Listing
+Date and end on the 30th day after the last day for the lodging of applications under the Hong
+Kong Public Offering, i.e. Wednesday, 2 August 2023).
+The Company will ensure or procure that a public announcement in compliance with the Securities
+and Futures (Price Stabilizing) Rules will be issued within seven days after the end of the
+stabilising period.
+
+
+--- page 11 ---
+13
+Cornerstone Investor
+Based on the Offer Price of HK$3.60 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
+fee of 0.00565%) and pursuant to the Cornerstone Investment Agreement as disclosed in the
+section headed “Cornerstone Investor ” in the Prospectus, the number of Offer Shares placed to the
+Cornerstone Investor is set out below:
+Investment
+Amount (1)
+Number of
+Offer Shares
+(rounded down
+ to nearest
+whole board
+lot of 1,000
+H Shares)
+Approximate
+% of the
+Offer Shares (2)
+Approximate
+% of the
+total Shares in
+issue immediately
+following the
+completion of
+Global Offering (2)
+Jiang Gang International Investment
+ Company Limited RMB50,000,000 14,823,000 19.6 4.9
+Note:
+(1) Including brokerage, the SFC transaction levy, the AFRC transaction levy and the Stock Exchange trading fee.
+(2) The Overall Coordinator and the Sole Global Coordinator confirm that no over-allocation of International Offer
+Shares has been made and the Over-allotment Option has not been and will not be exercised.
+To the best knowledge of the Company, (i) the Cornerstone Investor is an Independent Third
+Party; (ii) the subscriptions of the Offer Shares by the Cornerstone Investor is not financed directly
+or indirectly by the Company, the Directors, supervisors, Controlling Shareholders, substantial
+Shareholders and existing Shareholders of the Company, or any of their subsidiaries or respective
+close associates; and (iii) the Cornerstone Investor is not accustomed to take instructions from the
+Company, Directors, supervisors, Controlling Shareholders, substantial Shareholders and existing
+Shareholders of the Company or any of their subsidiaries or respective close associates in relation
+to the acquisition, disposal, voting or other disposition of the Offer Shares. The Cornerstone
+Placing will form part of the International Offering and the Cornerstone Investor will not subscribe
+for any Offer Shares under the Global Offering (other than pursuant to the Cornerstone Investment
+Agreement). The Offer Shares to be subscribed by the Cornerstone Investor will rank pari passu
+in all respects with the other fully paid H Shares in issue immediately upon completion of the
+Global Offering and will be counted towards the public float of the Company under Rule 8.08 of
+the Listing Rules and in compliance with the requirement under Rule 8.08(3) of the Listing Rules.
+Immediately following the completion of the Global Offering, the Cornerstone Investor will not
+become a substantial shareholder of the Company, nor will the Cornerstone Investor have any
+Board representation in the Company.
+As confirmed by the Cornerstone Investor, (i) its subscription under the Cornerstone Placing would
+be financed by its internal resources and/or the financial resources of its shareholders; (ii) there
+are no side agreements/arrangement between the Company and the Cornerstone Investor or any
+benefit, direct or indirect, conferred on the Cornerstone Investor by virtue of or in relation to the
+Cornerstone Placing, other than a guaranteed allocation of the relevant Offer Shares at the Offer
+Price; and (iii) neither the Cornerstone Investor nor any of its shareholders is listed on any stock
+exchange, and all necessary approvals (including approvals from its shareholders, if relevant) have
+been obtained with respect to its subscription under the Cornerstone Placing.
+
+
+--- page 12 ---
+14
+The Cornerstone Investor has agreed that without the prior written consent of each of our
+Company, the Sponsor-OC, the Overall Coordinator and the Sole Global Coordinator (for
+themselves and on behalf of the Underwriters) and the Sole Sponsor, it will not, whether directly
+or indirectly, at any time during the period of six months starting from and inclusive of the Listing
+Date (the “Lock-up Period ”), dispose of any of the Offer Shares it purchased pursuant to the
+Cornerstone Investment Agreement, save for certain limited circumstances, such as transfers to any
+of its wholly-owned subsidiaries/companies which will be bound by the same obligations of such
+Cornerstone Investor, including the Lock-up Period restriction.
+Other than a guaranteed allocation of the relevant Offer Shares at the final Offer Price, the
+Cornerstone Investor does not have any preferential rights in the Cornerstone Investment
+Agreement compared with other public Shareholders.
+Please refer to the section headed “Cornerstone Investor ” in the Prospectus for further details
+relating to the Cornerstone Investor.
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure of the
+Global Offering { Conditions of the Global Offering ” in the Prospectus, 1,373 valid applications
+made by the public through the White Form eIPO service and the CCASS EIPO service 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
+1,000 921 1,000 Shares 100.00%
+2,000 212 2,000 Shares 100.00%
+3,000 51 3,000 Shares 100.00%
+4,000 20 4,000 Shares 100.00%
+5,000 35 5,000 Shares 100.00%
+6,000 8 6,000 Shares 100.00%
+7,000 8
+6,000 Shares plus 2 out of 8 to
+ receive additional 1,000 Shares 89.29%
+8,000 3 7,000 Shares 87.50%
+9,000 2
+7,000 Shares plus 1 out of 2 to
+ receive additional 1,000 Shares 83.33%
+10,000 54 8,000 Shares 80.00%
+15,000 6 10,000 Shares 66.67%
+20,000 11 12,000 Shares 60.00%
+25,000 5 14,000 Shares 56.00%
+30,000 8 16,000 Shares 53.33%
+35,000 3 18,000 Shares 51.43%
+40,000 1 20,000 Shares 50.00%
+45,000 8 22,000 Shares 48.89%
+
+
+--- page 13 ---
+15
+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
+50,000 3 24,000 Shares 48.00%
+60,000 1 27,000 Shares 45.00%
+70,000 1 30,000 Shares 42.86%
+80,000 1 33,000 Shares 41.25%
+90,000 1 36,000 Shares 40.00%
+100,000 2 39,000 Shares 39.00%
+350,000 2 98,000 Shares 28.00%
+450,000 1 104,000 Shares 23.11%
+500,000 1 105,000 Shares 21.00%
+700,000 1 140,000 Shares 20.00%
+1,370
+Total number of Pool A successful
+ applicants: 1,370
+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
+1,500,000 2 1,135,000 Shares 75.67%
+2,000,000 1 1,510,000 Shares 75.50%
+3
+Total number of Pool B successful
+ applicants: 3
+The final number of Offer Shares comprising the Hong Kong Public Offering is 7,560,000 Offer
+Shares, representing 10% of the total number of Offer Shares initially available under the Global
+Offering.
+
+
+--- page 14 ---
+16
+LOCK-UP OBLIGATIONS
+The Company, each of the Controlling Shareholders, the existing Shareholders and the Cornerstone
+Investor are subject to lock-up obligations (the “Lock-up Obligations ”) in respect of our Shares.
+The major terms of the Lock-up Obligations are set out as follows:
+Name Class of shares
+Number of
+Shares subject
+to the Lock-
+up Obligations
+after Listing
+Percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Obligations
+after Listing (1)
+Last day of the
+lock-up period
+The Company (subject to lock-up obligations
+pursuant to the Listing Rules and the Hong
+Kong Underwriting Agreement)
+N/A N/A N/A 9 January 2024 (2)
+Controlling Shareholders (subject to lock-up
+obligations pursuant to the Listing Rules, the
+Hong Kong Underwriting Agreement and
+applicable PRC laws)
+Shuangliang Technology (3) Unlisted Shares
+ (Domestic Shares)
+150,000,000 49.75% 9 July 2024 (5)
+Jiangsu Lichuang (4) Unlisted Shares
+ (Domestic Shares)
+51,000,000 16.91% 9 July 2024 (5)
+All other existing Shareholders (excluding
+Controlling Shareholders) (subject to lock-up
+obligations pursuant to the applicable PRC
+laws)
+Mr. Li Baoshan Unlisted Shares
+ (Domestic Shares)
+6,000,000 1.99% 9 July 2024 (5)
+Mr. Gu Dongsheng Unlisted Shares
+ (Domestic Shares)
+2,500,000 0.83% 9 July 2024 (5)
+Mr. Liu Jiansheng Unlisted Shares
+ (Domestic Shares)
+2,500,000 0.83% 9 July 2024 (5)
+Mr. Liu Jing Unlisted Shares
+ (Domestic Shares)
+2,000,000 0.66% 9 July 2024 (5)
+Mr. Shan Yulin Unlisted Shares
+ (Domestic Shares)
+2,000,000 0.66% 9 July 2024 (5)
+Mr. Li Fenglin Unlisted Shares
+ (Domestic Shares)
+2,000,000 0.66% 9 July 2024 (5)
+
+
+--- page 15 ---
+17
+Name Class of shares
+Number of
+Shares subject
+to the Lock-
+up Obligations
+after Listing
+Percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Obligations
+after Listing (1)
+Last day of the
+lock-up period
+Mr. Liu Guoyin Unlisted Shares
+ (Domestic Shares)
+2,000,000 0.66% 9 July 2024 (5)
+Mr. Wang Xiaosong Unlisted Shares
+ (Domestic Shares)
+2,000,000 0.66% 9 July 2024 (5)
+Mr. Geng Ming Unlisted Shares
+ (Domestic Shares)
+2,000,000 0.66% 9 July 2024 (5)
+Mr. Jiang Shaojun Unlisted Shares
+ (Domestic Shares)
+2,000,000 0.66% 9 July 2024 (5)
+Cornerstone Investor (subject to lock-up
+obligations pursuant to the Cornerstone
+Investment Agreement)
+H shares 14,823,000 4.90% 9 January 2024 (6)
+Notes:
+(1) The Overall Coordinator and the Sole Global Coordinator confirm that no over-allocation of International Offer
+Shares has been made and the Over-allotment Option has not been and will not be exercised.
+(2) The Company may not issue Shares on or before the indicated date except otherwise permitted by the Listing
+Rules.
+(3) The registered capital of Shuangliang Technology is held as to 20% by Mr. Miao Shuangda, 15% by Mr. Miao
+Wenbin, 10% by Mr. Miao Zhiqiang, 10% by Ms. Miao Shuya, 10% by Mr. Miao Heida, 15% by Mr. Jiang
+Rongfang, 10% by Mr. Ma Peilin and 10% by Mr. Ma Fulin.
+(4) The registered capital of Jiangsu Lichuang is held as to 20% by Mr. Miao Shuangda, 15% by Mr. Miao Wenbin,
+10% by Mr. Miao Zhiqiang, 10% by Ms. Miao Shuya, 10% by Mr. Miao Heida, 15% by Mr. Jiang Rongfang,
+10% by Mr. Ma Peilin and 10% by Mr. Ma Fulin.
+(5) Pursuant to the applicable PRC laws, within the 12 months following the Listing Date, each of the existing
+Shareholders (including the Controlling Shareholders) could not dispose of any of the Shares held by them.
+(6) The Cornerstone Investor shall not dispose of, in any way, any of the Offer Shares it has subscribed for pursuant
+to the Cornerstone Investment Agreement (the “Cornerstone Shares ”) or any interest in any company or entity
+holding any of such Cornerstone Shares on or before the indicated date. For details of the Cornerstone Investor,
+please see the section headed “Cornerstone Investor ” in the Prospectus.
+
+
+--- page 16 ---
+18
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee Subscription
+Number of
+H Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription as %
+of International
+Offering
+Subscription as %
+of total
+Offer Shares
+Number of
+H Shares as %
+of total
+H Shares
+Number of
+Shares as %
+of total share
+capital
+in issue
+Top 1 15,660,000 15,660,000 15,660,000 23.02% 20.71% 20.71% 5.19%
+Top 5 40,547,000 40,547,000 40,547,000 59.59% 53.63% 53.63% 13.44%
+Top 10 52,948,000 52,948,000 52,948,000 77.82% 70.04% 70.04% 17.56%
+Top 20 61,019,000 61,019,000 61,019,000 89.68% 80.71% 80.71% 20.23%
+Top 25 63,318,000 63,318,000 63,318,000 93.06% 83.75% 83.75% 20.99%
+• Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Shareholder Subscription
+Number of
+H Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription as %
+of International
+Offering
+Subscription as
+% of total
+Offer Shares
+Number of
+H Shares as %
+of total
+H Shares
+Number of
+Shares as %
+of total
+share capital
+in issue
+Top 1 0 0 150,000,000 0 0 0 49.73%
+Top 5 30,483,000 30,483,000 237,483,000 44.80% 40.32% 40.32% 78.74%
+Top 10 46,541,000 46,541,000 253,541,000 68.40% 61.56% 61.56% 84.07%
+Top 20 51,298,000 51,298,000 275,298,000 75.39% 67.85% 67.85% 91.28%
+Top 25 56,968,000 56,968,000 282,968,000 83.73% 75.35% 75.35% 93.82%
+• Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company upon Listing:
+Shareholder Subscription
+Number of
+H Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription as %
+of International
+Offering
+Subscription as %
+of total
+Offer Shares
+Number of
+H Shares as %
+of total
+H Shares
+Number of
+Shares as %
+of total
+share capital
+in issue
+Top 1 15,660,000 15,660,000 15,660,000 23.02% 20.71% 20.71% 5.19%
+Top 5 40,547,000 40,547,000 40,547,000 59.59% 53.63% 53.63% 13.44%
+Top 10 52,948,000 52,948,000 52,948,000 77.82% 70.04% 70.04% 17.56%
+Top 20 62,906,000 62,906,000 62,906,000 92.45% 83.21% 83.21% 20.86%
+Top 25 65,877,000 65,877,000 65,877,000 96.82% 87.14% 87.14% 21.84%
+
+
+--- page 17 ---
+19
+RESULTS OF ALLOCATIONS
+The final Offer Price, the level of indication of interest in the International Offering and the results
+of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering successfully
+applied for through the White Form eIPO service or through the CCASS EIPO service, including
+the Hong Kong identity card/passport/Hong Kong business registration numbers of successful
+applicants under the Hong Kong Public Offering will be available at the times and dates and in the
+manner specified below:
+• in this announcement posted on the Company ’s website at www.hjkj.cn and the Stock
+Exchange ’s website at www.hkexnews.hk by no later than 8:00 a.m. on Friday, 7 July 2023.
+Please note that the list of identification document numbers in this announcement may not be
+a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants are disclosed. Applicants
+with beneficial names only but not identification document numbers are not disclosed due to
+personal privacy issue as elaborated below. Applicants who applied for the H Shares through
+their brokers can consult their brokers to enquire about their application result;
+• from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID ” function on a 24-hour
+basis from 8:00 a.m. on Friday, 7 July 2023 to 12:00 midnight on Thursday, 13 July 2023;
+and
+• from the allocation results telephone enquiry line by calling +852 2862 8555 between 9:00
+a.m. and 6:00 p.m. on Friday, 7 July 2023, Monday, 10 July 2023, Tuesday, 11 July 2023 and
+Wednesday, 12 July 2023.
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ” refer
+to Hong Kong identity card numbers/passport numbers/Hong Kong business registration numbers/
+certificate of incorporation numbers/beneficial owner identification codes (if such applications
+are made by nominees as agent for the benefit of another person) whereas those displayed in the
+section headed “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are provided by CCASS Participants via CCASS. Therefore, the
+identification document numbers shown in the two sections are different in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by White
+Form eIPO ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
diff --git a/data/extracted_text/02490/allotment_results_summary_2023-09-22_2023092200058.txt b/data/extracted_text/02490/allotment_results_summary_2023-09-22_2023092200058.txt
new file mode 100644
index 0000000..0258d40
--- /dev/null
+++ b/data/extracted_text/02490/allotment_results_summary_2023-09-22_2023092200058.txt
@@ -0,0 +1,858 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF FINAL OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Final Offer Price
+• The final Offer Price has been determined at HK$5.13 per Offer Share (exclusive of
+brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of
+0.00565% and AFRC transaction levy of 0.00015%).
+Net Proceeds from the Global Offering
+• Based on the final Offer Price of HK$5.13 per Offer Share, the net proceeds from the
+Global Offering to be received by the Company, after deduction of the underwriting fees
+and commissions and estimated expenses payable by the Company in connection with the
+Global Offering, are estimated to be approximately HK$83.5 million (assuming the Over-
+allotment Option is not exercised and excluding any Shares that may be issued under the
+Post-IPO Share Scheme). The estimated total listing expenses (assuming that the Over-
+allotment Option is not exercised and excluding any Shares that may be issued under
+the Post-IPO Share Scheme) are approximately HK$62.2 million, or 42.7% of the gross
+proceeds of the Global Offering, comprising underwriting fees of HK$5.9 million, fees and
+expenses of legal advisors and Reporting Accountants of HK$32.7 million and other fees
+and expenses of HK$23.6 million. The Company intends to use the net proceeds from the
+Global Offering in the manner as set out in the paragraph headed “Net Proceeds from the
+Global Offering ” in this announcement.
+• If the Over-allotment Option is exercised in full, the Company will receive additional
+net proceeds of approximately HK$21.0 million for 4,258,000 additional Offer Shares to
+be issued and allotted upon the exercise of the Over-allotment Option, after deduction of
+underwriting fees and commissions and estimated expenses payable by the Company in
+connection with the Global Offering, which will be allocated on a pro rata basis according
+to the use of proceeds as set out in the paragraph headed “Net Proceeds from the Global
+Offering ” in this announcement.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been moderately oversubscribed. A total of 2,344 valid applications have been received
+pursuant to the Hong Kong Public Offering through the White Form eIPO service and
+giving electronic application instructions to HKSCC for a total of 13,531,000 Hong
+Kong Offer Shares, representing approximately 4.77 times of the total number of 2,839,000
+Shares initially available for subscription under the Hong Kong Public Offering.
+• As the oversubscription in the Hong Kong Public Offering is less than 15 times, no
+reallocation of Offer Shares has been effected from the International Offering to the Hong
+Kong Public Offering.
+• The final number of Offer Shares under the Hong Kong Public Offering is 2,839,000 Offer
+Shares, representing 10% of the total number of Offer Shares initially available under
+the Global Offering (before any exercise of the Over-allotment Option and excluding
+any Shares that may be issued under the Post-IPO Share Scheme), and being allocated to
+1,141 successful applicants under the Hong Kong Public Offering, among which 1,010
+applicants have been allotted one board lot of Offer Shares totalling 1,010,000 Shares.
+
+
+--- page 2 ---
+4
+International Offering
+• The Offer Shares initially offered under the International Offering have been slightly
+oversubscribed, representing approximately 1.53 times of the total number of Offer Shares
+initially available under the International Offering. The final number of Offer Shares
+allocated to the placees under the International Offering is 25,551,000 Shares, representing
+90% of the total number of Offer Shares initially available under the Global Offering
+(before any exercise of the Over-allotment Option and excluding any Shares that may be
+issued under the Post-IPO Share Scheme). There has been an over-allocation of 4,258,000
+Offer Shares and there are a total of 114 placees under the International Offering, among
+which 100 placees have been allotted five or fewer board lots of Offer Shares totalling
+107,000 Shares and 96 placees have been allotted one board lot of Offer Shares totalling
+96,000 Shares.
+Placing of Offer Shares to Certain Existing Shareholders under Paragraph 5(2) of the
+Placing Guidelines
+• Under the International Offering, a total of 1,366,000 Offer Shares were allocated to
+Power Bright, an existing Shareholder, representing (i) approximately 4.81% of the Offer
+Shares under the Global Offering; and (ii) approximately 0.48% of the total issued Shares
+immediately upon completion of the Global Offering (assuming the Over-allotment Option
+is not exercised and excluding any Shares that may be issued under the Post-IPO Share
+Scheme). Immediately upon completion of the Global Offering (assuming the Over-
+allotment Option is not exercised and excluding any Shares that may be issued under the
+Post-IPO Share Scheme), Power Bright will in aggregate hold approximately 4.95% of the
+total issued share capital of the Company.
+• Under the International Offering, a total of 2,594,000 Offer Shares were allocated to PCW,
+an existing Shareholder, representing (i) approximately 9.14% of the Offer Shares under
+the Global Offering; and (ii) approximately 0.91% of the total issued Shares immediately
+upon completion of the Global Offering (assuming the Over-allotment Option is not
+exercised and excluding any Shares that may be issued under the Post-IPO Share Scheme).
+Immediately upon completion of the Global Offering (assuming the Over-allotment Option
+is not exercised and excluding any Shares that may be issued under the Post-IPO Share
+Scheme), PCW will in aggregate hold approximately 1.81% of the total issued share capital
+of the Company.
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted,
+a waiver from strict compliance with Rule 10.04 of the Listing Rules and its consent under
+paragraph 5(2) of Appendix 6 to the Listing Rules (the “Placing Guidelines ”) to permit the
+Company to allocate such Offer Shares under the International Offering to Power Bright
+and PCW as placees.
+• To the best knowledge of the Company and save for the fact that the above two placees,
+namely Power Bright and PCW, are existing Shareholders of the Company, (i) none of
+the Offer Shares subscribed for by public Shareholders in the Hong Kong Public Offering
+and placees in the International Offering has been financed directly, or indirectly by the
+Company, the Directors, the chief executive of the Company or any of its subsidiaries,
+the Controlling Shareholders, substantial Shareholders, existing Shareholders, or any of
+their respective close associates, and (ii) none of the public Shareholders in the Hong
+Kong Public Offering and placees in the International Offering who has subscribed for the
+Offer Shares is accustomed to taking instructions from the Company, the Directors, the
+chief executive of the Company or any of its subsidiaries, the Controlling Shareholders,
+substantial Shareholders, existing Shareholders, or any of their respective close associates
+in relation to the acquisition, disposal, voting or other disposition of the Shares registered
+in their name or otherwise held by them.
+
+
+--- page 3 ---
+5
+• Save as disclosed in the section headed “International Offering – Placing of Offer Shares
+to Certain Existing Shareholders under Paragraph 5(2) of Placing Guidelines ” in this
+announcement, to the best knowledge, information and belief of the Directors, no Offer
+Shares placed by or through the Overall Coordinators, the Joint Global Coordinators,
+the Joint Bookrunners or the Underwriters under the Global Offering have been placed
+with applicants who are core connected persons (as defined in the Listing Rules) of
+the Company, or to any connected clients (as set out in paragraph 5(1) of the Placing
+Guidelines), or persons set out in paragraph 5(2) of the Placing Guidelines, whether in their
+own names or through nominees.
+Over-allotment Option
+In connection with the Global Offering, the Company has granted the Over-allotment Option
+to the International Underwriters, exercisable by the Overall Coordinators (for themselves and
+on behalf of the International Underwriters), at any time from the Listing Date to Wednesday,
+October 18, 2023, being the 30th day after the last day for lodging applications under the
+Hong Kong Public Offering, to require the Company to issue and allot up to an aggregate of
+4,258,000 additional Offer Shares, representing not more than approximately 15.0% of the
+total number of Offer Shares initially available under the Global Offering, at the Offer Price to
+cover the over-allocations in the International Offering. There has been an over-allocation of
+4,258,000 Offer Shares in the International Offering and such over-allocation will be settled by
+using Shares to be borrowed under the Stock Borrowing Agreement between Lecang Altitude
+and ABCI Securities Company Limited. The return of the borrowed Shares will be settled by
+exercising the Over-allotment Option in full or in part or by making purchases in the secondary
+market or a combination of these means. In the event the Over-allotment Option is exercised,
+an announcement will be made on the Stock Exchange ’s website at www.hkexnews.hk and the
+Company ’s website at www.lcang.com . As of the date of this announcement, the Over-allotment
+Option has not been exercised.
+Lock-up Undertakings
+The Company, the Controlling Shareholders and another existing Shareholder are subject to
+certain lock-up undertakings as set out in the paragraph headed “Lock-up Undertakings ” in this
+announcement.
+
+
+--- page 4 ---
+6
+Results of Allocations
+The Offer Price, the level of indications of interest in the International Offering, the level of
+applications of the Hong Kong Offer Shares and the results of allocations, the Hong Kong
+identity card/passport/Hong Kong business registration numbers of successful applicants under
+the Hong Kong Public Offering will be available at the times and date and in the manner
+specified below:
+• in the announcement to be posted on the Company ’s website at www.lcang.com and the
+Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on Friday,
+September 22, 2023 (Hong Kong time). Please note that the list of identification document
+numbers in this announcement may not be a complete list of successful applicants since
+only successful applicants whose identification document numbers are provided to
+HKSCC by CCASS Participants are disclosed. Applicants with beneficial names only but
+not identification document numbers are not disclosed due to personal privacy issue as
+elaborated below. Applicants who applied for the Offer Shares through their brokers can
+consult their brokers to enquire about their application result;
+• from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID ” function on a 24 hour
+basis from 8:00 a.m. on Friday, September 22, 2023 (Hong Kong time) to 12:00 midnight
+on Thursday, September 28, 2023 (Hong Kong time); and
+• by telephone enquiry line by calling (852) 2862 8555 between 9:00 a.m. and 6:00 p.m. on
+Friday, September 22, 2023 (Hong Kong time) to Wednesday, September 27, 2023 (Hong
+Kong time) (excluding Saturday, Sunday and Hong Kong public holidays).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ”
+refer to Hong Kong identity card numbers/passport numbers/Hong Kong business registration
+numbers/certificate of incorporation numbers/beneficial owner identification codes (if such
+applications are made by nominees as agent for the benefit of another person) whereas
+those displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” are provided by CCASS Participants via
+CCASS. Therefore, the identification document numbers shown in the two sections are different
+in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by White
+Form eIPO ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 5 ---
+7
+Despatch/Collection of Share Certificates/e-Refund Payment Instructions/Refund Checks
+• Applicants who applied for 1,000,000 Hong Kong Offer Shares or more through the White
+Form eIPO service and who have been wholly successfully or partially successfully
+allocated Hong Kong Offer Shares and are eligible to collect Share certificates in person
+may collect Share certificates from the Hong Kong Share Registrar, Computershare Hong
+Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre,
+183 Queen ’s Road East, Wanchai, Hong Kong from 9:00 a.m. to 1:00 p.m. on Friday,
+September 22, 2023 (Hong Kong time), or such other date or place as notified by the
+Company in the newspapers as the date of despatch/collection of Share certificates/
+e-Refund payment instructions/refund checks.
+• Share certificates for the Hong Kong Offer Shares allotted to applicants who applied
+for less than 1,000,000 Hong Kong Offer Shares through the White Form eIPO service
+are expected to be despatched to those entitled to the address specified in the relevant
+application instructions through the White Form eIPO service by ordinary post at their
+own risk on or before Friday, September 22, 2023.
+• Share certificates for the Hong Kong Offer Shares allocated to applicants who applied
+through the White Form eIPO service which are either not eligible for personal collection
+or which are eligible but are not collected in person by 1:00 p.m. on Friday, September 22,
+2023 (Hong Kong time), are expected to be despatched by ordinary post to those entitled to
+them at their own risk on or before Friday, September 22, 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their Share certificates issued in the name of
+HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS Investor
+Participant stock accounts or the stock accounts of their designated CCASS Participants
+who gave electronic application instructions on their behalf on Friday, September 22,
+2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them with that CCASS Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
+before 5:00 p.m. on Friday, September 22, 2023 (Hong Kong time) or such other date as
+shall be determined by HKSCC or HKSCC Nominees. Applicants who applied as a CCASS
+Investor Participant by giving electronic application instructions to HKSCC via CCASS
+may also check the results of their applications and the amount of refund monies payable to
+them via the CCASS Phone System and the CCASS Internet System (under the procedures
+contained in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time
+to time) immediately after the crediting of the Hong Kong Offer Shares to the CCASS
+Investor Participants stock accounts and the crediting of the refund monies to the CCASS
+Investor Participants bank accounts. HKSCC will also make available to the CCASS
+Investor Participants an activity statement showing the number of Hong Kong Offer
+Shares credited to their stock accounts and the refund amount credited to their respective
+designated bank accounts (if any).
+
+
+--- page 6 ---
+8
+• Applicants who applied through the White Form eIPO service and paid the application
+monies from a single bank account will have refund monies (if any) despatched to their
+application payment accounts in the form of e-Refund payment instructions on Friday,
+September 22 2023. Applicants who applied through the White Form eIPO service and
+paid the application monies from multiple bank accounts will have refund monies (if any)
+despatched to the addresses specified on their White Form eIPO applications in the form
+of refund check(s) in favour of the applicant (or, in the case of joint applications, the first-
+named applicant) by ordinary post at their own risk on or before Friday, September 22,
+2023.
+• Refund monies for applicants who have applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their brokers or custodians on
+Friday, September 22, 2023.
+• Share certificates will only become valid evidence of title at 8:00 a.m. on Monday,
+September 25, 2023 (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.
+• No temporary document of title will be issued in respect of the Shares. No receipt will be
+issued for sums paid on application.
+Public Float
+• Immediately following the completion of the Global Offering, approximately 32.09% of the
+total issued Shares will be held by the public in compliance with the requirements under
+Rule 8.08 of the Listing Rules.
+• The Directors confirm that (a) no placee will, individually, be placed more than 10% of
+the enlarged issued share capital of the Company immediately after the Global Offering;
+(b) there will not be any new substantial shareholder (as defined in the Listing Rules) of
+the Company immediately after the Global Offering; (c) the number of Shares in public
+hands will satisfy the minimum percentage as approved by the Stock Exchange; (d) the
+three largest public Shareholders do not hold more than 50% of the Shares in public hands
+at the time of Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules; and
+(e) there will be at least 300 Shareholders at the time of Listing in compliance with Rule
+8.08(2) of the Listing Rules.
+
+
+--- page 7 ---
+9
+Commencement of Dealings
+Share certificates will only become valid evidence of title at 8:00 a.m. on Monday, September
+25, 2023 (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 Shares on the basis of publicly available allocation details
+or 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. in Hong Kong
+on Monday, September 25, 2023 (Hong Kong time), it is expected that dealings in the Shares on
+the Stock Exchange will commence at 9:00 a.m. on Monday, September 25, 2023 (Hong Kong
+time). The Shares will be traded in board lots of 1,000 Shares each and the stock code of the
+Shares will be 2490.
+In view of the 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.
+
+
+--- page 8 ---
+10
+FINAL OFFER PRICE
+The final Offer Price has been determined at HK$5.13 per Offer Share (exclusive of brokerage
+of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the final Offer Price of HK$5.13 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of underwriting fees and commissions and
+estimated expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$83.5 million (assuming the Over-allotment Option is not exercised and
+excluding any Shares that may be issued under the Post-IPO Share Scheme). The estimated total
+listing expenses (assuming that the Over-allotment Option is not exercised and excluding any
+Shares that may be issued under the Post-IPO Share Scheme) are approximately HK$62.2 million,
+or 42.7% of the gross proceeds of the Global Offering, comprising underwriting fees of HK$5.9
+million, fees and expenses of legal advisors and Reporting Accountants of HK$32.7 million and
+other fees and expenses of HK$23.6 million.
+The Company intends to apply the net proceeds as follows:
+• approximately 52.0%, or HK$43.4 million, will be used for setting up logistics facilities,
+including warehouses and container yards, purchasing trucks and investing in software
+systems for warehouse, order and transportation management in the next two years to enhance
+the Company ’s integrated cross-border logistics services, particularly targeting cross-border
+e-commerce merchants, and to meet the needs of its expanding business operation;
+• approximately 4.0%, or HK$3.3 million, will be used for expanding the Company ’s business
+coverage and global network;
+• approximately 7.0%, or HK$5.9 million, will be used for adopting digital technologies and
+upgrading internet service systems in providing integrated cross-border logistics services;
+• approximately 20.0%, or HK$16.7 million, will be used for strategic investments and/or
+acquisitions in businesses or assets that complement the business of the Company;
+• approximately 7.0%, or HK$5.9 million, will be used for establishing a trucking service
+matching platform in China; and
+• approximately 10.0%, or HK$8.3 million, will be used for general corporate purposes and
+working capital needs.
+If the Over-allotment Option is exercised in full, the Company will receive additional net
+proceeds of approximately HK$21.0 million for 4,258,000 additional Offer Shares to be issued
+and allotted upon the exercise of the Over-allotment Option after deduction of underwriting fees
+and commissions and estimated expenses payable by the Company in connection with the Global
+Offering. In the event that the Over-allotment Option is exercised, the Company intends to apply
+the additional net proceeds to the above purposes on a pro rata basis. For further information,
+please refer to the section headed “Future Plans and Use of Proceeds ” in the Prospectus.
+
+
+--- page 9 ---
+11
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have
+been moderately oversubscribed. At the close of the application lists at 12:00 noon on Monday,
+September 18, 2023 (Hong Kong time), a total of 2,344 valid applications have been received
+pursuant to the Hong Kong Public Offering through the White Form eIPO service and giving
+electronic application instructions to HKSCC for a total of 13,531,000 Hong Kong Offer Shares,
+representing approximately 4.77 times of the total number of 2,839,000 Hong Kong Offer Shares
+initially available for subscription under the Hong Kong Public Offering, among which:
+• 2,341 valid applications in respect of a total of 10,531,000 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount based on the
+maximum Offer Price of HK$5.55 per Offer Share of HK$5 million (excluding brokerage of
+1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%) or less, representing approximately 7.42 times of the 1,420,000
+Hong Kong Offer Shares initially comprised in Pool A; and
+• three valid applications in respect of a total of 3,000,000 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount based on the
+maximum Offer Price of HK$5.55 per Offer Share of more than HK$5 million (excluding
+brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565%
+and AFRC transaction levy of 0.00015%), representing approximately 2.11 times of the
+1,419,000 Hong Kong Offer Shares initially comprised in Pool B.
+No application was rejected due to invalid application. No multiple or suspected multiple
+application was identified and rejected. No application was rejected due to dishonored payments.
+No application for more than 1,419,000 Hong Kong Offer Shares (being 50% of the Hong Kong
+Offer Shares initially available under the Hong Kong Public Offering) was identified.
+As the oversubscription in the Hong Kong Public Offering is less than 15 times, no reallocation of
+Offer Shares has been effected from the International Offering to the Hong Kong Public Offering.
+The final number of Offer Shares under the Hong Kong Public Offering is 2,839,000 Offer Shares,
+representing 10% of the total number of Offer Shares initially available under the Global Offering
+(before any exercise of the Over-allotment Option and excluding any Shares that may be issued
+under the Post-IPO Share Scheme), and being allocated to 1,141 successful applicants under the
+Hong Kong Public Offering, among which 1,010 applicants have been allotted one board lot of
+Offer Shares totalling 1,010,000 Shares.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the paragraph headed “Basis of Allocation under the Hong Kong Public Offering ”
+below.
+
+
+--- page 10 ---
+12
+INTERNATIONAL OFFERING
+On September 19, 2023, our Company, the Controlling Shareholders, the Joint Sponsors, the
+Overall Coordinators, the Joint Global Coordinators, ABCI Securities Company Limited and the
+International Underwriters entered into the International Underwriting Agreement in respect of the
+International Offering.
+The Offer Shares initially offered under the International Offering have been slightly
+oversubscribed, representing approximately 1.53 times of the total number of Offer Shares
+initially available under the International Offering. The final number of Offer Shares allocated to
+the placees under the International Offering is 25,551,000 Shares, representing 90% of the total
+number of Offer Shares initially available under the Global Offering (before any exercise of the
+Over-allotment Option and excluding any Shares that may be issued under the Post-IPO Share
+Scheme). There has been an over-allocation of 4,258,000 Offer Shares and there are a total number
+of 114 placees under the International Offering, among which 100 placees have been allotted five
+or fewer board lots of the Offer Shares totalling 107,000 Shares and 96 placees have been allotted
+one board lot of the Offer Shares totalling 96,000 Shares.
+Placing of Offer Shares to Certain Existing Shareholders under Paragraph 5(2) of the Placing
+Guidelines
+Certain Offer Shares were placed to two existing Shareholders. The Company has applied to the
+Stock Exchange for, and the Stock Exchange has granted, a waiver from strict compliance with
+Rule 10.04 of the Listing Rules and its consent under paragraph 5(2) of the Placing Guidelines to
+permit the Company to allocate such Offer Shares as set out below.
+Placee
+Shareholding in
+the Company
+immediately after
+the Capitalization Issue
+and before the
+completion of the
+Global Offering
+(Approximate % of
+the Company ’s
+issued share capital)
+Number of Shares
+to be subscribed under
+the Global Offering
+(Approximate % of
+the total Offer Shares
+initially available under
+the Global Offering) (1)
+Total number and
+approximate
+percentage
+of Shares held of
+the Company ’s issued
+share capital
+immediately following
+the completion of
+the Global Offering (1)
+Power Bright 12,701,442 (4.97%) 1,366,000 (4.81%) 14,067,442 (4.95%)
+PCW 2,556,024 (1.00%) 2,594,000 (9.14%) 5,150,024 (1.81%)
+Note:
+(1) Assuming that the Over-allotment Option is not exercised and excluding any Shares that may be issued under
+the Post-IPO Share Scheme.
+
+
+--- page 11 ---
+13
+Save as disclosed in the above section headed “International Offering – Placing of Offer Shares to
+Certain Existing Shareholders under Paragraph 5(2) of Placing Guidelines ” in this announcement,
+to the best knowledge, information and belief of the Directors, no Offer Shares placed by or
+through the Overall Coordinators, the Joint Global Coordinators, the Joint Bookrunners or the
+Underwriters under the Global Offering have been placed with applicants who are core connected
+persons (as defined in the Listing Rules) of the Company, or to any connected clients (as set out
+in paragraph 5(1) of the Placing Guidelines), or persons set out in paragraph 5(2) of the Placing
+Guidelines, whether in their own names or through nominees.
+To the best knowledge of the Company and save for the fact that the above two placees, namely
+Power Bright and PCW, are existing Shareholders of the Company, (i) none of the Offer Shares
+subscribed for by public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering has been financed directly or indirectly by the Company, the Directors, the
+chief executive of the Company or any of its subsidiaries, the Controlling Shareholders, substantial
+Shareholders, existing Shareholders, or any of their respective close associates, and (ii) none of the
+public Shareholders in the Hong Kong Public Offering and placees in the International Offering
+who has subscribed for the Offer Shares is accustomed to taking instructions from the Company,
+the Directors, the chief executive of the Company or any of its subsidiaries, the Controlling
+Shareholders, substantial Shareholders, existing Shareholders, or any of their respective close
+associates in relation to the acquisition, disposal, voting or other disposition of the Shares
+registered in their name or otherwise held by them.
+Over-allotment Option
+In connection with the Global Offering, the Company has granted the Over-allotment Option to the
+International Underwriters, exercisable by the Overall Coordinators (for themselves and on behalf
+of the International Underwriters), at any time from the Listing Date to Wednesday, October 18,
+2023, being the 30th day after the last day for lodging applications under the Hong Kong Public
+Offering, to require the Company to issue and allot up to an aggregate of 4,258,000 additional
+Offer Shares, representing not more than approximately 15.0% of the total number of Offer Shares
+initially available under the Global Offering, at the Offer Price to cover the over-allocations in
+the International Offering. There has been an over-allocation of 4,258,000 Offer Shares in the
+International Offering and such over-allocation will be settled by using Shares to be borrowed
+under the Stock Borrowing Agreement between Lecang Altitude and ABCI Securities Company
+Limited. The return of the borrowed Shares will be settled by exercising the Over-allotment Option
+in full or in part or by making purchases in the secondary market or a combination of these means.
+In the event the Over-allotment Option is exercised, an announcement will be made on the Stock
+Exchange ’s website at www.hkexnews.hk and the Company ’s website at www.lcang.com . As of
+the date of this announcement, the Over-allotment Option has not been exercised.
+
+
+--- page 12 ---
+14
+LOCK-UP UNDERTAKINGS
+The Company, the Controlling Shareholders and another existing Shareholder are subject to
+lock-up undertakings (the “Lock-up Undertakings ”) in respect of the Shares. The major terms of
+the Lock-up Undertakings are as follows:
+Name
+Number of
+Shares held in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon the Listing
+Percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+after Listing (2)
+Last day subject to the
+Lock-up Undertakings
+The Company (subject to lock-up undertakings pursuant to the Listing
+Rules and the Underwriting Agreements)
+N/A N/A March 24, 2024 (1)
+The Controlling Shareholders (subject to lock-up undertakings
+pursuant to the Listing Rules and the Underwriting Agreements) (3)
+158,553,294 55.85% March 24, 2024
+ (First Six-Month Period)
+September 24, 2024
+ (Second Six-Month Period)
+Existing Shareholder (subject to its lock-up undertaking):
+PCW(4) 5,150,024 1.81% March 24, 2024
+Notes:
+(1) The Company may not issue Shares prior to the indicated date except otherwise permitted by the Listing Rules.
+(2) Assuming the Over-allotment Option is not exercised and excluding any Shares that may be issued under the
+Post-IPO Share Scheme.
+(3) This includes the 30,252,600 Shares held by Glorious Sailing which is owned as to approximately 79.53% by
+Mr. Xu (a Controlling Shareholder) and 20.47% by the Employee Pre-IPO Investors, who are subject to lock-
+up undertaking. Each of the Employee Pre-IPO Investors has agreed that he/she will not, at any time prior to
+the end of six months following the Listing Date, dispose any Shares indirectly held by him/her. Please see the
+section headed “History, Reorganization and Corporate Structure – Pre-IPO Investments ” in the Prospectus for
+further details.
+(4) PCW is a Pre-IPO Investor.
+PUBLIC FLOAT
+Immediately following the completion of the Global Offering, approximately 32.09% of the total
+issued Shares will be held by the public in compliance with the requirements under Rule 8.08 of
+the Listing Rules.
+
+
+--- page 13 ---
+15
+The Directors confirm that (a) no placee will, individually, be placed more than 10% of the
+enlarged issued Shares immediately after the Global Offering; (b) there will not be any new
+substantial shareholder (as defined in the Listing Rules) of the Company immediately after the
+Global Offering; (c) the number of Shares in public hands will satisfy the minimum percentage as
+approved by the Stock Exchange; (d) the three largest public Shareholders do not hold more than
+50% of the Shares in public hands at the time of Listing in compliance with Rules 8.08(3) and
+8.24 of the Listing Rules; and (e) there will be at least 300 Shareholders at the time of Listing in
+compliance with Rule 8.08(2) of the Listing Rules.
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure and
+Conditions of the Global Offering – Conditions of the Global Offering ” in the Prospectus, 2,344
+valid applications made by the public through giving electronic applications instructions to HKSCC
+via CCASS and through the White Form eIPO service 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
+1,000 1,591 478 out of 1,591 to receive 1,000 Shares 30.04%
+2,000 113 61 out of 113 to receive 1,000 Shares 26.99%
+3,000 46 30 out of 46 to receive 1,000 Shares 21.74%
+4,000 22 16 out of 22 to receive 1,000 Shares 18.18%
+5,000 59 44 out of 59 to receive 1,000 Shares 14.92%
+6,000 7 6 out of 7 to receive 1,000 Shares 14.29%
+7,000 6 1,000 Shares 14.29%
+8,000 354 1,000 Shares plus 36 out of 354 to receive additional 1,000 Shares 13.77%
+9,000 8 1,000 Shares plus 1 out of 8 to receive additional 1,000 Shares 12.50%
+10,000 39 1,000 Shares plus 6 out of 39 to receive additional 1,000 Shares 11.54%
+15,000 26 1,000 Shares plus 15 out of 26 to receive additional 1,000 Shares 10.51%
+20,000 17 2,000 Shares 10.00%
+30,000 4 2,000 Shares plus 3 out of 4 to receive additional 1,000 Shares 9.17%
+35,000 23 3,000 Shares 8.57%
+40,000 3 3,000 Shares plus 1 out of 3 to receive additional 1,000 Shares 8.33%
+60,000 7 4,000 Shares 6.67%
+80,000 3 5,000 Shares 6.25%
+90,000 2 5,000 Shares plus 1 out of 2 to receive additional 1,000 Shares 6.11%
+100,000 5 6,000 Shares 6.00%
+150,000 2 8,000 Shares 5.33%
+250,000 1 13,000 Shares 5.20%
+300,000 1 15,000 Shares 5.00%
+400,000 1 20,000 Shares 5.00%
+450,000 1 22,000 Shares 4.89%
+2,341 Total number of Pool A successful applicants: 1,138
+
+
+--- page 14 ---
+16
+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
+1,000,000 3 473,000 Shares 47.30%
+3 Total number of Pool B successful applicants: 3
+The final number of Offer Shares under the Hong Kong Public Offering is 2,839,000 Offer Shares,
+representing 10% of the total number of Offer Shares initially available under the Global Offering
+(before any exercise of the Over-allotment Option and excluding any Shares that may be issued
+under the Post-IPO Share Scheme).
+RESULTS OF ALLOCATIONS
+The Offer Price, the level of indications of interest in the International Offering, the level of
+applications of the Hong Kong Offer Shares and the results of allocations, the Hong Kong identity
+card/passport/Hong Kong business registration numbers of successful applicants under the Hong
+Kong Public Offering will be available at the times and date and in the manner specified below:
+• in the announcement to be posted on the websites of the Company at www.lcang.com and
+the Stock Exchange at www.hkexnews.hk by no later than 9:00 a.m. on Friday, September
+22, 2023 (Hong Kong time). Please note that the list of identification document numbers in
+this announcement may not be a complete list of successful applicants since only successful
+applicants whose identification document numbers are provided to HKSCC by CCASS
+Participants are disclosed. Applicants with beneficial names only but not identification
+document numbers are not disclosed due to personal privacy issue as elaborated below.
+Applicants who applied for the Offer Shares through their brokers can consult their brokers
+to enquire about their application result;
+• from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID ” function on a 24 hour
+basis from 8:00 a.m. on Friday, September 22, 2023 (Hong Kong time) to 12:00 midnight on
+Thursday, September 28, 2023 (Hong Kong time); and
+
+
+--- page 15 ---
+17
+• by telephone enquiry line by calling (852) 2862 8555 between 9:00 a.m. and 6:00 p.m. on
+Friday, September 22, 2023 (Hong Kong time) to Wednesday, September 27, 2023 (Hong
+Kong time) (excluding Saturday, Sunday and Hong Kong public holidays).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ” refer
+to Hong Kong identity card numbers/passport numbers/Hong Kong business registration numbers/
+certificate of incorporation numbers/beneficial owner identification codes (if such applications
+are made by nominees as agent for the benefit of another person) whereas those displayed in the
+section headed “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are provided by CCASS Participants via CCASS. Therefore, the
+identification document numbers shown in the two sections are different in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by White
+Form eIPO ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+• the number of Offer Shares subscribed for by the top 1, 5, 10, 20 and 25 placees in the
+International Offering, their subscription percentages in the International Offering, and their
+shareholding percentages upon Listing are as follows:
+Placee
+Number of
+Offer Shares
+subscribed for
+Number of
+Shares held
+upon Listing
+Number of
+Offer Shares
+subscribed for
+as % of
+International
+Offering
+(assuming no
+exercise of the
+Over-allotment
+Option and
+excluding any
+Shares that
+may be issued
+under the
+Post-IPO
+Share Scheme)
+Number of
+Offer Shares
+subscribed for
+as % of
+International
+Offering
+(assuming the
+Over-allotment
+Option is
+exercised
+in full and
+excluding any
+Shares that
+may be issued
+under the
+Post-IPO
+Share Scheme)
+Number of
+Offer Shares
+subscribed for
+as % of
+total Offer
+Shares
+(assuming no
+exercise of the
+Over-allotment
+Option and
+excluding any
+Shares that
+may be issued
+under the
+Post-IPO
+Share Scheme)
+Number of
+Offer Shares
+subscribed for
+as % of total
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised
+in full and
+excluding any
+Shares that
+may be issued
+under the
+Post-IPO
+Share Scheme)
+% of total
+issued share
+capital upon
+Listing
+(assuming no
+exercise of the
+Over-allotment
+Option and
+excluding any
+Shares that
+may be issued
+under the
+Post-IPO
+Share Scheme)
+% of total
+issued share
+capital upon
+Listing
+(assuming the
+Over-allotment
+Option is
+exercised
+in full and
+excluding any
+Shares that
+may be issued
+under the
+Post-IPO
+Share Scheme)
+Top 1 10,574,000 10,574,000 41.38% 35.47% 37.25% 32.39% 3.72% 3.67%
+Top 5 23,149,000 25,705,024 90.60% 77.66% 81.54% 70.90% 9.05% 8.92%
+Top 10 28,813,000 44,070,466 112.77% 96.66% 101.49% 88.25% 15.52% 15.29%
+Top 20 29,715,000 44,972,466 116.30% 99.68% 104.67% 91.02% 15.84% 15.61%
+Top 25 29,720,000 44,977,466 116.32% 99.70% 104.68% 91.03% 15.84% 15.61%
+
+
+--- page 16 ---
+18
+• top 1, 5, 10, 20 and 25 Shareholders upon Listing, their subscription percentages in the
+Global Offering, and their shareholding percentages upon Listing are as follows:
+Shareholders
+Number of
+Hong Kong
+Public
+Offer Shares
+subscribed for
+Number of
+International
+Offer Shares
+subscribed for
+Number of
+Shares held
+upon Listing
+Number of
+International
+Offer Shares
+subscribed for
+as % of
+International
+Offering
+(assuming no
+ exercise of the
+Over-allotment
+Option and
+excluding any
+Shares that
+may be issued
+under the
+Post-IPO
+Share Scheme)
+Number of
+International
+Offer Shares
+subscribed
+for as % of
+International
+Offering
+(assuming the
+Over-allotment
+Option is
+exercised
+in full and
+excluding any
+Shares that
+may be issued
+under the
+Post-IPO
+Share Scheme)
+Number of
+Offer Shares
+subscribed for
+as % of
+total Offer
+Shares
+(assuming no
+ exercise of the
+Over-allotment
+Option and
+excluding any
+Shares that
+may be issued
+under the
+Post-IPO
+Share Scheme)
+Number of
+Offer Shares
+subscribed
+for as % of
+total Offer
+Shares
+(assuming the
+Over-allotment
+Option is
+exercised
+in full and
+excluding any
+Shares that
+may be issued
+under the
+Post-IPO
+Share Scheme)
+% of total
+issued share
+capital upon
+Listing
+(assuming no
+ exercise of the
+Over-allotment
+Option and
+excluding any
+Shares that
+may be issued
+under the
+Post-IPO
+Share Scheme)
+% of total
+issued share
+capital upon
+Listing
+(assuming the
+Over-allotment
+Option is
+exercised
+in full and
+excluding any
+Shares that
+may be issued
+under the
+Post-IPO
+Share Scheme)
+Top 1 – – 158,553,294 0% 0% 0% 0% 55.84% 55.02%
+Top 5 – 1,366,000 207,022,936 5.35% 4.58% 4.81% 4.18% 72.91% 71.84%
+Top 10 – 11,940,000 249,648,132 46.73% 40.06% 42.06% 36.57% 87.92% 86.63%
+Top 20 – 27,042,000 282,585,156 105.84% 90.72% 95.25% 82.83% 99.53% 98.05%
+Top 25 946,000 29,583,000 286,072,156 115.78% 99.24% 107.53% 93.51% 100.75% 99.26%
+In view of the 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 Shares.
diff --git a/data/extracted_text/02496/allotment_results_summary_2023-09-22_2023092200026.txt b/data/extracted_text/02496/allotment_results_summary_2023-09-22_2023092200026.txt
new file mode 100644
index 0000000..8fd6310
--- /dev/null
+++ b/data/extracted_text/02496/allotment_results_summary_2023-09-22_2023092200026.txt
@@ -0,0 +1,1101 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+OFFER PRICE
+• The Offer Price is HK$16.00 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+• At the Offer Price of HK$16.00 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and other estimated expenses payable by the Company in connection with
+the Global Offering, are estimated to be approximately HK$121.4 million, assuming the
+Over-allotment Option is not exercised. Listing expenses to be borne by the Company are
+estimated to be approximately HK$54.6 million (including underwriting commission, at the
+Offer Price of HK$16.00 per H Share), which represent 31.0% of the gross proceeds from
+the Global Offering, comprising underwriting-related fees of RMB5.9 million, and non-
+underwriting-related expenses of RMB44.1 million. The Company intends to apply such
+net proceeds from the Global Offering in the manner set out in the section headed “Net
+Proceeds from the Global Offering ” in this announcement.
+• If the Over-allotment Option is exercised in full, the Company will receive additional net
+proceeds of approximately HK$25.2 million for 1,650,000 additional Offer Shares to be
+issued and allotted upon the exercise of the Over-allotment Option, which will be allocated
+on a pro rata basis according to the use of proceeds as set out in the paragraph headed “Net
+Proceeds from the Global Offering ” in this announcement.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been moderately over-subscribed. A total of 8,990 valid applications have been received
+pursuant to the Hong Kong Public Offering through the White Form eIPO service and
+through the CCASS EIPO service for a total of 15,194,600 Hong Kong Offer Shares,
+representing approximately 13.81 times of the total number of 1,100,200 Hong Kong Offer
+Shares initially available for subscription under the Hong Kong Public Offering.
+
+
+--- page 2 ---
+4
+• As the over-subscription in the Hong Kong Public Offering is less than 15 times, the
+reallocation procedures as described in the section headed “Structure of the Global Offering
+– The Hong Kong Public Offering – Reallocation ” in the Prospectus have not been applied
+and no International Offer Shares have been reallocated from the International Offering to
+the Hong Kong Public Offering. The final number of Hong Kong Offer Shares under the
+Hong Kong Public Offering is 1,100,200 Offer Shares, representing approximately 10% of
+the total number of Offer Shares initially available under the Global Offering (before any
+exercise of the Over-allotment Option). There are a total number of 2,428 Shareholders
+who were allocated Offer Shares under the Hong Kong Public Offering, among which,
+2,277 Shareholders, representing approximately 93.78% of the Shareholders who were
+allocated Offer Shares under the Hong Kong Public Offering, were allocated with one
+board lot of the Offer Shares, totaling 455,400 Offer Shares, representing approximately
+41.39% of the total Offer Shares under the Hong Kong Public Offering.
+INTERNATIONAL OFFERING
+• The International Offer Shares initially offered under the International Offering have
+been slightly over-subscribed, representing approximately 1.57 times of the total number
+of Offer Shares initially available under the International Offering. The final number of
+International Offer Shares under the International Offering is 9,901,000 Offer Shares,
+representing approximately 90% of the total number of Offer Shares initially available
+under the Global Offering (before any exercise of the Over-allotment Option).
+• There has been an over-allocation of 1,650,000 Offer Shares and there are a total of
+118 placees under the International Offering, among which 100 placees, representing
+approximately 84.75% of the total number of placees under the International Offering,
+have been allotted one board lot of Offer Shares, totaling 20,000 Offer Shares, representing
+approximately 0.20% of the total number of Offer Shares available under the International
+Offering (before any exercise of the Over-allotment Option).
+Cornerstone Investors
+• At the Offer Price of HK$16.00 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%) and pursuant to the Cornerstone Investment Agreements entered
+into with the Cornerstone Investors as disclosed in the section headed “Cornerstone
+Investors ” in the Prospectus, the Cornerstone Investors have subscribed for a total of
+6,513,800 Offer Shares, representing approximately 3.38% of the total issued share
+capital of the Company immediately upon the completion of the Global Offering and
+approximately 59.21% of the number of Offer Shares under the Global Offering (before
+any exercise of the Over-allotment Option).
+
+
+--- page 3 ---
+5
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted
+to the Company, (i) a waiver from strict compliance with Rule 10.04 of the Listing Rules
+and its consent under paragraph 5(2) of Appendix 6 to the Listing Rules (the “Placing
+Guidelines ”) to allow Wuhan Optics Valley Health Industry Investment Ltd. (an existing
+Shareholder) ( “Guanggu Health ”); and (ii) a waiver from strict compliance with Rules
+9.09 and 10.03 of the Listing Rules and its consent under paragraph 5(2) of the Placing
+Guidelines to allow Chengdu Puhua Kaizhi Biotechnology Co., Ltd. (a close associate of
+Yuan Qian and Dr. Zhou Hongfeng, being the Company ’s existing Shareholders and non-
+executive Directors, and thus a core connected person of the Company) ( “Puhua Kaizhi ”),
+to participate as Cornerstone Investors in the Global Offering. Please refer to the section
+headed “Waivers from Strict Compliance with the Listing Rules and Exemption from Strict
+Compliance with the Companies (Winding Up and Miscellaneous Provisions) Ordinance ”
+in the Prospectus.
+• Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further
+details of the Cornerstone Investors.
+Over-allotment Option
+• In connection with the Global Offering, the Company has granted the Over-allotment
+Option to the International Underwriters, exercisable by the Overall Coordinator (for
+themselves and on behalf of the International Underwriters), at any time from the Listing
+Date to Wednesday, October 18, 2023, being the 30th day after the last day for lodging
+applications under the Hong Kong Public Offering, to require the Company to issue and
+allot up to an aggregate of 1,650,000 additional Offer Shares, representing not more
+than approximately 15.0% of the total number of Offer Shares initially available under
+the Global Offering, at the Offer Price to cover the over-allocations in the International
+Offering.
+• There has been an over-allocation of 1,650,000 Offer Shares in the International Offering.
+Such over-allocation may be covered by exercising the Over-allotment Option in part or
+by making purchases in the secondary market or a combination of these means. In the
+event the Over-allotment Option is exercised, an announcement will be made on the Stock
+Exchange ’s website at www.hkexnews.hk and the Company ’s website at www.yzybio.com .
+As of the date of this announcement, the Over-allotment Option has not been exercised.
+
+
+--- page 4 ---
+6
+CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
+OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
+• To the best knowledge, information and belief of the Directors, save as disclosed in the
+section headed “International Offering – Cornerstone Investors ” in this announcement, no
+Offer Shares placed by or through the Overall Coordinator, the Joint Global Coordinators,
+the Joint Bookrunners, the Joint Lead Managers or the Underwriters under the Global
+Offering have been placed to applicants who are core connected persons of the Company,
+or connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons
+set out in paragraph 5(2) of the Placing Guidelines, whether in their own names or through
+nominees. The International Offering is in compliance with the Placing Guidelines.
+• The Directors confirm that, to the best of their knowledge, information and belief, save
+as Guanggu Health (an existing Shareholder) and Puhua Kaizhi (a close associate of
+Yuan Qian and Dr. Zhou Hongfeng, being the Company ’s existing Shareholders and
+non-executive Directors, and thus a core connected person of the Company), (i) none of
+the Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering
+and placees in the International Offering has been financed directly or indirectly by the
+Company, its Directors, chief executive, substantial Shareholders, existing Shareholders
+or any of their subsidiaries or their respective close associates; (ii) no rebate has been,
+directly or indirectly, provided by the Company, its Directors, chief executive, substantial
+Shareholders, existing Shareholders or any of their subsidiaries or their respective close
+associates or syndicate members or any other brokers to any public Shareholders in the
+Hong Kong Public Offering or placees in the International Offering; (iii) none of the public
+Shareholders in the Hong Kong Public Offering and placees in the International Offering
+who has subscribed for the Offer Shares is accustomed to taking instructions from the
+Company, its Directors, chief executive, substantial Shareholders, existing Shareholders or
+any of their subsidiaries or their respective close associates in relation to the acquisition,
+disposal, voting or other disposition of the H Shares registered in his/her/its name or
+otherwise held by him/her/it; (iv) the consideration payable by the public Shareholders in
+the Hong Kong Public Offering and placees in the International Offering for each Offer
+Share subscribed for or purchased by them is the same as the Offer Price, in addition to
+brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015%
+and Stock Exchange trading fee of 0.00565%; and (v) there is no side agreement or
+arrangement between the Company, its Directors, chief executive, substantial Shareholders,
+existing Shareholders or any of their subsidiaries or their respective close associates or
+syndicate members or any other brokers, on one hand, and the public Shareholders or the
+placees who have subscribed for the Offer Shares, on the other hand.
+• The Directors confirm that, to the best of their knowledge, information and belief, none
+of the placees under the International Offering will be placed more than 10% of the
+enlarged issued share capital of the Company immediately following the completion of
+the Global Offering. Accordingly, the Directors confirm that none of the placees will
+become a substantial shareholder of the Company immediately following the completion
+of the International Offering, and there will not be any new substantial Shareholder of the
+Company immediately following the completion of the Global Offering.
+
+
+--- page 5 ---
+7
+LOCK-UP UNDERTAKINGS
+• Each of the Company, the Single Largest Group of Shareholders, the Cornerstone Investors
+and all existing Shareholders is subject to certain lock-up undertakings set out in the
+section headed “Lock-up Undertakings ” in this announcement.
+RESULTS OF ALLOCATIONS
+• Results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
+Offering, including the Offer Price, the level of indications of interest in the International
+Offering, the level of applications in the Hong Kong Public Offering and the basis of
+allocation of the Hong Kong Offer Shares will be published on Friday, September 22,
+2023 on the websites of the Stock Exchange at www.hkexnews.hk and the Company at
+www.yzybio.com .
+• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
+Offering successfully applied for through the White Form eIPO service or through the
+CCASS EIPO service, including the Hong Kong identity card numbers, passport numbers,
+Hong Kong business registration numbers or certificate of incorporation numbers of
+successful applicants (where applicable) and the number of Hong Kong Offer Shares
+successfully applied for, will be made available at the times and dates and in the manner
+specified below:
+• in the announcement to be posted on the Company ’s website at www.yzybio.com
+and the Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m.
+on Friday, September 22, 2023. Please note that the list of identification document
+numbers set out in this announcement may not be a complete list of successful
+applicants since only successful applicants whose identification document numbers
+are provided to HKSCC by CCASS Participants or via the White Form eIPO
+service are disclosed. Applicants with beneficial names only but not identification
+document numbers are not disclosed due to personal privacy issue as elaborated
+below. Applicants who applied for the Hong Kong Offer Shares through their brokers
+or nominees can consult their brokers or nominees to enquire about their application
+results;
+• from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ;
+Chinese https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID ” function
+on a 24-hour basis from 8:00 a.m. on Friday, September 22, 2023 to 12:00 midnight
+on Thursday, September 28, 2023; and
+• from the allocation results telephone enquiry by calling +852 2862 8555 between 9:00
+a.m. and 6:00 p.m. on Friday, September 22, 2023, Monday, September 25, 2023,
+Tuesday, September 26, 2023 and Wednesday, September 27, 2023.
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by White
+Form eIPO ” in this announcement refer to Hong Kong identity card numbers/passport
+numbers/Hong Kong business registration numbers/certificate of incorporation numbers/
+beneficial owner identification codes (if such applications are made by nominees as agent
+for the benefit of another person), whereas those displayed in the section headed “Results
+of Applications Made by Giving Electronic Application Instructions to HKSCC via
+CCASS” in this announcement are provided by CCASS Participants via CCASS. Therefore,
+the identification document numbers shown in the two sections are different in nature.
+
+
+--- page 6 ---
+8
+• Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications
+Made by White Form eIPO ” and “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” are redacted and not all details of
+applications are disclosed in this announcement.
+DESPATCH/COLLECTION OF H SHARE CERTIFICATES AND REFUND MONIES
+• Applicants who applied for 500,000 Hong Kong Offer Shares or more through the
+White Form eIPO service and who have been wholly or partially successfully allocated
+Hong Kong Offer Shares may collect H Share certificates and/or refund cheques (where
+applicable) in person from the Hong Kong Share Registrar, Computershare Hong Kong
+Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen ’s
+Road East, Wan Chai, Hong Kong from 9:00 a.m. to 1:00 p.m. on Friday, September 22,
+2023 or any other place or date as notified by the Company.
+• Applicants being individuals who are eligible for personal collection must not authorize
+any other person to make collection on their behalf. Corporate applicants which are
+eligible for personal collection must attend by their authorized representatives bearing
+letters of authorization from their corporations stamped with the corporations ’ chops. Both
+individuals and authorized representatives (if applicable) must produce, at the time of
+collection, evidence of identity acceptable to Computershare Hong Kong Investor Services
+Limited.
+• H Share certificates for Hong Kong Offer Shares allotted to applicants who applied through
+the White Form eIPO service which are either not available for personal collection
+(including applicants who applied for less than 500,000 Hong Kong Offer Shares through
+the White Form eIPO service) or which are available but are not collected in person by
+1:00 p.m. on Friday, September 22, 2023 are expected to be despatched by ordinary post
+to the addresses specified in the relevant applications at their own risk on or before Friday,
+September 22, 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their H Share certificates issued in the name
+of HKSCC Nominees Limited and deposited directly into CCASS for credit to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participant who gave electronic application instructions on their behalf on Friday,
+September 22, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them and the amount of refund monies payable to them with that CCASS Participant.
+
+
+--- page 7 ---
+9
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
+before 5:00 p.m. on Friday, September 22, 2023 or such other date as shall be determined
+by HKSCC or HKSCC Nominees. Applicants who applied as a CCASS Investor Participant
+by giving electronic application instructions to HKSCC via CCASS may also check
+the results of their applications and the amount of refund monies payable to them via the
+CCASS Phone System and the CCASS Internet System (under the procedures contained
+in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time to time).
+Immediately after the crediting of the Hong Kong Offer Shares to the CCASS Investor
+Participants stock accounts and the crediting of the refund monies to their respective
+designated bank account, HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the number of Hong Kong Offer Shares credited
+to their stock accounts and the amount of refund monies (if any) credited to their respective
+designated bank accounts.
+• Applicants who applied through the White Form eIPO service and paid the application
+monies through a single bank account will have refund monies (if any) despatched to
+their application payment bank account in the form of e-Refund payment instructions on
+or before Friday, September 22, 2023. Applicants who applied through the White Form
+eIPO service and paid the application monies through multiple bank accounts will have
+refund monies (if any) despatched to the addresses specified on their White Form eIPO
+applications in the form of refund cheque(s) by ordinary post at their own risk on or before
+Friday, September 22, 2023.
+• Refund monies (if any) for applicants who applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to their designated
+bank accounts or the designated bank accounts of their brokers or custodians on Friday,
+September 22, 2023.
+• H Share certificates will only become valid evidence of title at 8:00 a.m. (Hong Kong
+time) on Monday, September 25, 2023 provided that the Global Offering has become
+unconditional in all respects at or before that time and the right of termination described
+in the section headed “Underwriting – Underwriting Arrangements and Expenses –
+Hong Kong Public Offering – Hong Kong Underwriting Agreement – Grounds for
+Termination ” in the Prospectus has not been exercised.
+• The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+
+
+--- page 8 ---
+10
+PUBLIC FLOAT
+• The Directors of the Company confirm that there will not be any new substantial
+Shareholder immediately after the Global Offering within the meaning of the Listing Rules
+and the number of shares to be held by the public will satisfy the minimum percentage
+prescribed under Rule 8.08 of the Listing Rules.
+• Immediately following completion of the Global Offering and before the exercise of the
+Over-allotment Option, the number of H Shares in public hands will be 58,036,429 H
+Shares, representing approximately 30.1% of the total issued share capital of the Company
+which satisfies Rule 8.08(1) of the Listing Rules, and the three largest public shareholders
+of the Company do not hold more than 50% of the shares held in public hands at the
+time of the Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules. The
+Directors confirm that there will be at least 300 Shareholders at the time of the Listing in
+compliance with Rule 8.08 (2) of the Listing Rules. The Company will comply with Rule
+18A.07 of the Listing Rules that a portion of the total number of the Company ’s issued
+shares with a market capitalization of at least HK$375 million will be held by the public at
+the time of Listing.
+COMMENCEMENT OF DEALINGS IN THE H SHARES
+• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
+a.m. on Monday, September 25, 2023 (Hong Kong time), dealings in the H Shares on the
+Main Board of the Stock Exchange are expected to commence at 9:00 a.m. on Monday,
+September 25, 2023 (Hong Kong time). The H Shares will be traded in board lots of 200 H
+Shares each. The stock code of the H Shares is 2496.
+• In view of the high concentration of shareholding in a small number of Shareholders,
+Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of H Shares traded, and should
+exercise extreme caution when dealing in the H Shares.
+OFFER PRICE
+The Offer Price is HK$16.00 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
+0.00565%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+At the Offer Price of HK$16.00 per Offer Share, the net proceeds from the Global Offering to be
+received by the Company, after deduction of the underwriting fees and commissions and other
+estimated expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$121.4 million (assuming the Over-allotment Option is not exercised).
+Listing expenses to be borne by the Company are estimated to be approximately HK$54.6 million
+(including underwriting commission, at the Offer Price of HK$16.00 per H Share), which represent
+31.0% of the gross proceeds from the Global Offering, comprising underwriting-related fees of
+RMB5.9 million, and non-underwriting related expenses of RMB44.1 million.
+
+
+--- page 9 ---
+11
+The Company intends to apply such net proceeds as follows:
+(a) approximately 80% of the net proceeds, or approximately HK$97.1 million, will be used for
+planned clinical trials, preparation for registration filings, and the planned commercial launch
+(including sales and marketing activities) of M701, the Company ’s Core Product, of which
+(i) approximately 40%, or HK$48.6 million, will be used for planned clinical trials of
+M701 for the treatment of MA. The Company plans to commence a pivotal/Phase III
+trial for M701 in treating MA in China in the first quarter of 2024.
+(ii) approximately 20%, or HK$24.3 million, will be used for planned clinical trials of
+M701 for the treatment of MPE. The Company plans to commence a pivotal/Phase III
+trial for M701 for the treatment of MPE in China in the third quarter of 2024.
+(iii) approximately 20%, or HK$24.3 million, will be used for the preparation for
+registration filings with the NMPA, planned commercial launch (including sales and
+marketing activities), and other regulatory matters for M701. The Company plans
+to submit the BLAs for M701 with the NMPA for the treatment of MA and MPE in
+the first quarter of 2025 and the fourth quarter of 2025, respectively. In addition, the
+Company plans to file the IND application for M701 with the NMPA for the treatment
+of solid tumor in the first quarter of 2024. In preparation for the commercial launch
+of M701, the Company will build an in-house commercialization team with medical
+and scientific background to maximize the reach of the Company ’s product offering
+and expedite market acceptance of its products in China. The Company plans to
+market M701 through a physician-targeted marketing strategy, focusing on direct
+and interactive communication with key opinion leaders and physicians to promote
+the clinical use of M701. For more details, please refer to the paragraphs headed
+“Business – Commercialization ” in the Prospectus. The Company also plans to make
+preparation for the commercial manufacturing of M701, which includes process transfer,
+sample production, process characterization and validation, and quality control.
+(b) approximately 12% of the net proceeds, or approximately HK$14.6 million, will be used for
+planned clinical trials of Y101D, of which
+(i) approximately 9.3%, or HK$11.3 million, will be used for planned clinical trials of
+Y101D in combination therapy in treating pancreatic cancer. The Company commenced
+a Phase Ib/II clinical trial of Y101D in combination with gemcitabine and albumin
+paclitaxel as the first-line treatment for pancreatic cancer patients in China in February
+2023, commenced patient enrollment for the Phase II portion of this trial in July 2023,
+and expect to complete this trial by the third quarter of 2024. Following the completion
+of this Phase Ib/II clinical trial, the Company also plans to commence a Phase III
+clinical trial in the fourth quarter of 2024 and expect to complete this trial by the second
+quarter of 2026.
+(ii) approximately 2.7%, or HK$3.3 million, will be used for planned clinical trials of
+Y101D in combination therapy in treating HCC and other advanced solid tumors.
+The Company commenced a Phase Ib/II clinical trial of Y101D in combination with
+bevacizumab in treating HCC and other advanced solid tumors in China in March
+2023 and expect to complete this trial by the second quarter of 2025. Following the
+completion of this Phase Ib/II clinical trial, the Company also plans to commence a
+Phase III clinical trial.
+
+
+--- page 10 ---
+12
+The Company has executed an adaptive clinical development strategy and may evaluate
+and adjust its priorities and funding allocations for different indications or other aspects
+of its clinical trials for each drug candidate from time to time based on the status and
+results of ongoing clinical trials, while the percentages of proceeds allocated to each
+drug candidate will generally remain stable. Therefore, the percentages and amounts of
+net proceeds allocated to each indication, clinical trial and/or commercialization plan of
+each drug candidate may be subject to change.
+(c) approximately 8%, or HK$9.7 million, will be used for working capital and general corporate
+purposes.
+To the extent that the net proceeds from the Global Offering are not immediately used for the
+purposes described above and to the extent permitted by the relevant laws and regulations,
+they will be placed in short-term demand deposits with licensed banks or authorized financial
+institutions (as defined under the SFO for Hong Kong based deposits or the applicable laws in the
+relevant jurisdiction for non-Hong Kong based deposits) so long as it is deemed to be in the best
+interests of the Company. The Company will issue an appropriate announcement if there is any
+material change to the above proposed use of proceeds.
+If the Over-allotment Option is exercised in full, the Company will receive additional net proceeds
+of approximately HK$25.2 million for 1,650,000 additional Offer Shares to be issued and allotted
+upon the exercise of the Over-allotment Option, which will be allocated on a pro rata basis
+according to the use of proceeds as set out in the paragraph headed “Net Proceeds from the Global
+Offering ” in this announcement.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
+the Prospectus.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
+moderately over-subscribed. A total of 8,990 valid applications have been received pursuant to the
+Hong Kong Public Offering through the White Form eIPO service and through the CCASS EIPO
+service for a total of 15,194,600 Hong Kong Offer Shares, representing approximately 13.81 times
+of the total number of 1,100,200 Hong Kong Offer Shares initially available for subscription under
+the Hong Kong Public Offering, among which:
+• 8,978 valid applications in respect of a total of 11,494,600 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with a total subscription price of HK$5 million or less
+at the maximum Offer Price of HK$20.00 per H Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%), representing approximately 20.89 times of the 550,200 Hong Kong
+Offer Shares initially comprised in Pool A of the Hong Kong Public Offering; and
+• 12 valid applications in respect of a total of 3,700,000 Hong Kong Offer Shares were for
+the Hong Kong Public Offering with a total subscription price of more than HK$5 million
+at the maximum Offer Price of HK$20.00 per H Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%), representing 6.73 times of the 550,000 Hong Kong Offer Shares
+initially comprised in Pool B of the Hong Kong Public Offering.
+
+
+--- page 11 ---
+13
+No application has been rejected due to invalid application. Four multiple or suspected multiple
+applications have been identified and rejected. One application has been rejected due to dishonored
+payment. No application for more than 550,000 Hong Kong Offer Shares (being 50% of the Hong
+Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
+As the over-subscription in the Hong Kong Public Offering is less than 15 times, the reallocation
+procedures as described in the section headed “Structure of the Global Offering – The Hong Kong
+Public Offering – Reallocation ” in the Prospectus have not been applied and no International Offer
+Shares have been reallocated from the International Offering to the Hong Kong Public Offering.
+The final number of Hong Kong Offer Shares under the Hong Kong Public Offering is 1,100,200
+Offer Shares, representing approximately 10% of the total number of Offer Shares initially
+available under the Global Offering. There are a total number of 2,428 Shareholders who were
+allocated Offer Shares under the Hong Kong Public Offering, among which, 2,277 Shareholders,
+representing approximately 93.78% of the Shareholders who were allocated Offer Shares under
+the Hong Kong Public Offering, were allocated with one board lot of the Offer Shares, totaling
+455,400 Offer Shares, representing approximately 41.39% of the total Offer Shares under the Hong
+Kong Public Offering.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offering ”
+below.
+INTERNATIONAL OFFERING
+The International Offer Shares initially offered under the International Offering have been slightly
+over-subscribed, representing approximately 1.57 times of the total number of Offer Shares
+initially available under the International Offering. The final number of International Offer Shares
+under the International Offering is 9,901,000 Offer Shares, representing approximately 90% of the
+total number of Offer Shares initially available under the Global Offering (before any exercise of
+the Over-allotment Option).
+There has been an over-allocation of 1,650,000 Offer Shares and there are a total of 118 placees
+under the International Offering, among which 100 placees, representing approximately 84.75% of
+the total number of placees under the International Offering, have been allotted one board lot of
+Offer Shares, totaling 20,000 Offer Shares, representing approximately 0.20% of the total number
+of Offer Shares available under the International Offering (before any exercise of the Over-
+allotment Option).
+
+
+--- page 12 ---
+14
+Cornerstone Investors
+At the Offer Price of HK$16.00 per H Share (exclusive of brokerage of 1.0%, SFC transaction levy
+of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%)
+and pursuant to the Cornerstone Investment Agreements entered into with the Cornerstone
+Investors as disclosed in the section headed “Cornerstone Investors ” in the Prospectus, the number
+of Offer Shares subscribed for by the Cornerstone Investors is set out below:
+Assuming the Over-allotment Option
+is not exercised
+Assuming the Over-allotment Option
+is exercised in full
+Cornerstone
+Investor
+Total
+Investment
+Amount
+Number
+of Offer
+Shares to be
+acquired (1)
+Approximate
+% of the
+Offer Shares
+% of the
+H Shares
+in issue
+Approximate
+% of
+Ownership
+Approximate
+% of the
+Offer Shares
+% of the
+H Shares
+in issue
+Approximate
+% of
+Ownership
+Guanggu Health RMB40.0 million 2,686,000 24.42% 2.43% 1.39% 21.23% 2.39% 1.38%
+Chuxing Yourui RMB37.0 million 2,485,200 22.59% 2.25% 1.29% 19.64% 2.21% 1.28%
+Puhua Kaizhi RMB20.0 million 1,342,600 12.20% 1.21% 0.70% 10.61% 1.20% 0.69%
+Total RMB97.0 million 6,513,800 59.21% 5.89% 3.38% 51.49% 5.80% 3.35%
+Note:
+(1) The actual number of Offer Shares varied from the disclosure in the Prospectus due to the actual exchange rate
+used for subscription according to the relevant Cornerstone Investment Agreements, which is the exchange
+rate at the time when the investment monies in Renminbi were converted into Hong Kong dollars by each of
+the cornerstone investors and rounded down to the nearest whole board lot of 200 H Shares. The total number
+of 6,626,000 Offer Shares acquired by the Cornerstone Investors disclosed in the Prospectus is for illustration
+purpose and is based on the exchange rate set out in the section headed “Information about this Prospectus and
+the Global Offering – Currency Translations ” in the Prospectus.
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to the
+Company, (i) a waiver from strict compliance with Rule 10.04 of the Listing Rules and its consent
+under paragraph 5(2) of the Placing Guidelines to allow Guanggu Health, which is an existing
+Shareholder; and (ii) a waiver from strict compliance with Rules 9.09 and 10.03 of the Listing
+Rules and its consent under paragraph 5(2) of the Placing Guidelines to allow Puhua Kaizhi,
+which is a close associate of Yuan Qian and Dr. Zhou Hongfeng, being the Company ’s existing
+Shareholders and non-executive Directors, and thus a core connected person of the Company, to
+participate as Cornerstone Investors in the Global Offering. Please refer to the section headed
+“Waivers from Strict Compliance with the Listing Rules and Exemption from Strict Compliance
+with the Companies (Winding Up and Miscellaneous Provisions) Ordinance ” in the Prospectus.
+To the best knowledge of the Company, none of the Cornerstone Investors or their respective
+controlling entity is listed on any stock exchange. Each of the Cornerstone Investors has confirmed
+that all necessary approvals have been obtained with respect to the Cornerstone Placing and that
+no specific approval from any stock exchange (if relevant) or its shareholders is required for the
+relevant cornerstone investment as each of them has general authority to invest.
+
+
+--- page 13 ---
+15
+Save as disclosed above, to the best knowledge of the Company, (i) each of the Cornerstone
+Investors (and, for Cornerstone Investor(s) who will subscribe for the Offer Shares through
+QDIIs, such QDIIs) is an independent third party; (ii) none of the Cornerstone Investors (and,
+for Cornerstone Investor(s) who will subscribe for the Offer Shares through QDIIs, such QDIIs)
+is accustomed to take instructions from the Company, the Directors, chief executive of the
+Company, the AIC Parties (being the Company ’s single largest shareholder group), substantial
+Shareholders or existing Shareholders (other than Guanggu Health and Puhua Kaizhi which are
+existing Shareholders or their close associates as described above) or any of its subsidiaries or
+their respective close associates in relation to the acquisition, disposal, voting, or other disposition
+of H Shares registered in its name or otherwise held by it; and (iii) none of the subscription for
+the relevant Offer Shares by the Cornerstone Investors (and, for Cornerstone Investor(s) who
+will subscribe for the Offer Shares through QDIIs, such QDIIs) is financed by the Company, the
+Directors, chief executive of the Company, the AIC Parties (being the Company ’s single largest
+shareholder group), substantial Shareholders or existing Shareholders (other than Guanggu Health
+and Puhua Kaizhi which are existing Shareholders or their close associates as described above)
+or any of its subsidiaries or their respective close associates for the purpose of subscription of the
+Offer Shares.
+The Cornerstone Placing will form part of the International Offering and the Cornerstone Investors
+will not subscribe for any Offer Shares under the Global Offering (other than pursuant to the
+Cornerstone Investment Agreements). The Offer Shares to be subscribed by the Cornerstone
+Investors will rank pari passu in all respect with the fully paid H Shares in issue. Other than Puhua
+Kaizhi, the Offer Shares to be subscribed by the other Cornerstone Investors will be counted
+towards the public float of the Company under Rule 8.08 of the Listing Rules. The Offer Shares
+to be subscribed by the Cornerstone Investors will not be counted towards the public float of
+the Company for the purpose of Rule 18A.07 of the Listing Rules. Immediately following the
+completion of the Global Offering, save for the fact that Puhua Kaizhi is a close associate of Yuan
+Qian and Dr. Zhou Hongfeng who are non-executive Directors, none of the Cornerstone Investors
+will have any Board representation in the Company. Other than a guaranteed allocation of the
+relevant Offer Shares at the Offer Price, the Cornerstone Investors do not have any preferential
+rights in the Cornerstone Investment Agreements compared with other public Shareholders.
+As confirmed by each of the Cornerstone Investors, its subscription under the Cornerstone Placing
+would be financed by its own internal resources. There are no side agreements or arrangements
+between the Company and the Cornerstone Investors or any benefit, direct or indirect, conferred
+on the Cornerstone Investors by virtue of or in relation to the Cornerstone Placing, other than a
+guaranteed allocation of the relevant Offer Shares at the Offer Price.
+All of the Cornerstone Investors will pay and settle in full for the relevant Offer Shares that
+they have subscribed before dealings in the Offer Shares commence on the Stock Exchange.
+There will be no delayed delivery if there is no over-allocation in the International Offering. The
+delayed delivery arrangements relate only to the delay in the delivery of the Offer Shares to such
+Cornerstone Investor on the condition that the Offer Price for the Offer Shares allocated to such
+Cornerstone Investor will be paid no later than two business days before the Listing Date, and thus
+there will be no delayed settlement of payment no matter whether there is delayed delivery or not.
+
+
+--- page 14 ---
+16
+All the Cornerstone Investors have agreed that the Overall Coordinator may defer the delivery of
+all or any part of the Offer Shares they have subscribed for to a date later than the Listing Date.
+Such delayed delivery arrangement is in place to facilitate the over-allocation in the International
+Offering. There will be no delayed delivery if there is no over-allocation in the International
+Offering.
+There will not be any deferred settlement in payment by any of the Cornerstone Investors. All of
+the Cornerstone Investors have agreed that they shall pay for the relevant Offer Shares no later
+than two business days before the Listing Date.
+Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at any
+time during the period of six months from and including the Listing Date (the “Lock-up Period ”),
+dispose of any of the Offer Shares they have purchased pursuant to the relevant Cornerstone
+Investment Agreements, save for certain limited circumstances, such as transfers to any of its
+wholly-owned subsidiaries, or any affiliated fund under common management or control with the
+relevant Cornerstone Investor, who will be bound by the same obligations of such Cornerstone
+Investor, including the Lock-up Period restriction.
+Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further details of
+the Cornerstone Investor.
+CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
+OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
+To the best knowledge, information and belief of the Directors, save as disclosed in the section
+headed “International Offering – Cornerstone Investors ” in this announcement, no Offer
+Shares placed by or through the Overall Coordinator, the Joint Global Coordinators, the Joint
+Bookrunners, the Joint Lead Managers or the Underwriters under the Global Offering have been
+placed to applicants who are core connected persons of the Company, or connected clients (as
+set out in paragraph 5(1) of the Placing Guidelines), or persons set out in paragraph 5(2) of the
+Placing Guidelines, whether in their own names or through nominees. The International Offering is
+in compliance with the Placing Guidelines.
+
+
+--- page 15 ---
+17
+The Directors confirm that, to the best of their knowledge, information and belief, save as
+Guanggu Health (an existing Shareholder) and Puhua Kaizhi (a close associate of Yuan Qian and
+Dr. Zhou Hongfeng, being the Company ’s existing Shareholders and non-executive Directors,
+and thus a core connected person of the Company), (i) none of the Offer Shares subscribed by
+public Shareholders in the Hong Kong Public Offering and placees in the International Offering
+has been financed directly or indirectly by the Company, its Directors, chief executive, substantial
+Shareholders, existing Shareholders or any of their subsidiaries or their respective close associates;
+(ii) no rebate has been, directly or indirectly, provided by the Company, its Directors, chief
+executive, substantial Shareholders, existing Shareholders or any of their subsidiaries or their
+respective close associates or syndicate members or any other brokers to any public Shareholders
+in the Hong Kong Public Offering or placees in the International Offering; (iii) none of the
+public Shareholders in the Hong Kong Public Offering and placees in the International Offering
+who has subscribed for the Offer Shares is accustomed to taking instructions from the Company,
+its Directors, chief executive, substantial Shareholders, existing Shareholders or any of their
+subsidiaries or their respective close associates in relation to the acquisition, disposal, voting or
+other disposition of the H Shares registered in his/her/its name or otherwise held by him/her/it;
+(iv) the consideration payable by the public Shareholders in the Hong Kong Public Offering and
+placees in the International Offering for each Offer Share subscribed for or purchased by them is
+the same as the Offer Price, in addition to brokerage of 1.0%, SFC transaction levy of 0.0027%,
+AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%; and (v) there is
+no side agreement or arrangement between the Company, its Directors, chief executive, substantial
+Shareholders, existing Shareholders or any of their subsidiaries or their respective close associates
+or syndicate members or any other brokers, on one hand, and the public Shareholders or the
+placees who have subscribed for the Offer Shares, on the other hand.
+The Directors confirm that, to the best of their knowledge, information and belief, none of the
+placees under the International Offering will be placed more than 10% of the enlarged issued
+share capital of the Company immediately following the completion of the Global Offering.
+Accordingly, the Directors confirm that none of the placees will become a substantial Shareholder
+of the Company immediately following the completion of the International Offering, and there will
+not be any new substantial Shareholder of the Company immediately following the completion of
+the Global Offering.
+OVER-ALLOTMENT OPTION
+In connection with the Global Offering, the Company has granted the Over-allotment Option to the
+International Underwriters, exercisable by the Overall Coordinator (for themselves and on behalf
+of the International Underwriters), at any time from the Listing Date to Wednesday, October 18,
+2023, being the 30th day after the last day for lodging applications under the Hong Kong Public
+Offering, to require the Company to issue and allot up to an aggregate of 1,650,000 additional
+Offer Shares, representing not more than approximately 15.0% of the total number of Offer Shares
+initially available under the Global Offering, at the Offer Price to cover the over-allocations in the
+International Offering.
+There has been an over-allocation of 1,650,000 Offer Shares in the International Offering. Such
+over-allocation may be covered by exercising the Over-allotment Option in part or by making
+purchases in the secondary market or a combination of these means. In the event the Over-
+allotment Option is exercised, an announcement will be made on the Stock Exchange ’s website
+at www.hkexnews.hk and the Company ’s website at www.yzybio.com . As of the date of this
+announcement, the Over-allotment Option has not been exercised.
+
+
+--- page 16 ---
+18
+LOCK-UP UNDERTAKINGS
+Each of the Company, the Single Largest Group of Shareholders, the Cornerstone Investors and
+other existing Shareholders has given certain lock-up undertakings in relation to the issue and
+disposal of Shares (the “Lock-up Undertakings ”). The major terms of the Lock-up Undertakings
+are set out as follows:
+Name
+Number of
+Shares subject
+to the Lock-up
+Undertakings
+upon Listing
+Approximate
+percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing (3)
+Last day subject to the
+Lock-up Undertakings
+The Company
+(subject to lock-up obligations pursuant to the Listing Rules and the Hong Kong Underwriting Agreement)
+N/A N/A March 24, 2024 (1)
+Existing Shareholders
+The Single Largest Group of Shareholders
+(subject to Lock-up Obligations pursuant to the Listing Rules, the Hong Kong Underwriting Agreement and
+applicable PRC laws and regulations)
+Yuan Qian 20,399,933 10.57% September 24, 2024 (2)
+Dr. Zhou Hongfeng 10,199,921 5.28% September 24, 2024 (2)
+Dr. Zhou Pengfei 6,869,744 3.56% September 24, 2024 (2)
+Wuhan Caizhi 16,792,707 8.70% September 24, 2024 (2)
+Other existing Shareholders (4)
+(subject to lock-up obligations pursuant to applicable PRC laws and regulations)
+127,737,695 66.18% September 24, 2024 (2)
+Cornerstone Investors
+(subject to lock-up obligations pursuant to the Cornerstone Investment Agreements)
+Guanggu Health 2,686,000 1.39% March 24, 2024 (2)
+Chuxing Yourui 2,485,200 1.29% March 24, 2024 (2)
+Puhua Kaizhi 1,342,600 0.70% March 24, 2024 (2)
+Notes:
+(1) The Company may not allot or issue Shares prior to the indicated date except otherwise permitted by the Listing
+Rules and the Stock Exchange.
+(2) The Shareholder(s) and Cornerstone Investor(s) may dispose of or transfer Shares without any lock-up
+obligation after the indicated date.
+(3) Assuming the Over-allotment Option is not exercised.
+(4) For identities and details of other existing Shareholders, see the section headed “History, Development and
+Corporate Structure ” in the Prospectus.
+
+
+--- page 17 ---
+19
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the section headed “Structure of the Global
+Offering – Conditions of the Global Offering ” in the Prospectus, 8,990 valid applications made
+by the public through the White Form eIPO service and the CCASS EIPO service will be
+conditionally allocated on the basis set out below:
+POOL A
+NO. OF SHARES
+APPLIED FOR
+NO. OF VALID
+APPLICATIONS BASIS OF ALLOTMENT/BALLOT
+APPROXIMATE
+PERCENTAGE
+ALLOTTED OF
+THE TOTAL
+NO. OF SHARES
+APPLIED FOR
+200 4,901 882 out of 4,901 to receive 200 H Shares 18.00%
+400 1,368 278 out of 1,368 to receive 200 H Shares 10.16%
+600 215 47 out of 215 to receive 200 H Shares 7.29%
+800 119 28 out of 119 to receive 200 H Shares 5.88%
+1,000 291 85 out of 291 to receive 200 H Shares 5.84%
+1,200 53 18 out of 53 to receive 200 H Shares 5.66%
+1,400 57 22 out of 57 to receive 200 H Shares 5.51%
+1,600 39 16 out of 39 to receive 200 H Shares 5.13%
+1,800 29 12 out of 29 to receive 200 H Shares 4.60%
+2,000 1,410 592 out of 1,410 to receive 200 H Shares 4.20%
+3,000 91 55 out of 91 to receive 200 H Shares 4.03%
+4,000 83 63 out of 83 to receive 200 H Shares 3.80%
+5,000 37 33 out of 37 to receive 200 H Shares 3.57%
+6,000 10 200 H Shares 3.33%
+7,000 7 200 H Shares plus 1 out of 7 to receive additional 200 H Shares 3.27%
+8,000 22 200 H Shares plus 4 out of 22 to receive additional 200 H Shares 2.95%
+9,000 121 200 H Shares plus 34 out of 121 to receive additional 200 H Shares 2.85%
+10,000 42 200 H Shares plus 17 out of 42 to receive additional 200 H Shares 2.81%
+15,000 16 400 H Shares plus 1 out of 16 to receive additional 200 H Shares 2.75%
+20,000 18 400 H Shares plus 13 out of 18 to receive additional 200 H Shares 2.72%
+25,000 7 600 H Shares plus 2 out of 7 to receive additional 200 H Shares 2.63%
+30,000 7 600 H Shares plus 6 out of 7 to receive additional 200 H Shares 2.57%
+35,000 1 800 H Shares 2.29%
+40,000 3 800 H Shares plus 1 out of 3 to receive additional 200 H Shares 2.17%
+50,000 5 1,000 H Shares 2.00%
+60,000 10 1,000 H Shares plus 7 out of 10 to receive additional 200 H Shares 1.90%
+70,000 3 1,200 H Shares plus 1 out of 3 to receive additional 200 H Shares 1.81%
+80,000 2 1,400 H Shares 1.75%
+90,000 2 1,400 H Shares plus 1 out of 2 to receive additional 200 H Shares 1.67%
+100,000 6 1,600 H Shares 1.60%
+150,000 1 2,200 H Shares 1.47%
+250,000 2 2,400 H Shares 0.96%
+8,978 Total number of Pool A successful applicants: 2,416
+
+
+--- page 18 ---
+20
+POOL B
+NO. OF SHARES
+APPLIED FOR
+NO. OF VALID
+APPLICATIONS BASIS OF ALLOTMENT/BALLOT
+APPROXIMATE
+PERCENTAGE
+ALLOTTED OF
+THE TOTAL
+NO. OF SHARES
+APPLIED FOR
+300,000 11 44,600 H Shares 14.87%
+400,000 1 59,400 H Shares 14.85%
+12 Total number of Pool B successful applicants: 12
+The final number of Hong Kong Offer Shares under the Hong Kong Public Offering is 1,100,200
+Offer Shares, representing approximately 10% of the total number of Offer Shares initially
+available under the Global Offering (before any exercise of the Over-allotment Option).
+RESULTS OF ALLOCATIONS
+Results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering,
+including the Offer Price, the level of indications of interest in the International Offering, the
+level of applications in the Hong Kong Public Offering and the basis of allocation of the Hong
+Kong Offer Shares will be published on Friday, September 22, 2023 on the websites of the Stock
+Exchange at www.hkexnews.hk and the Company at www.yzybio.com .
+The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the White Form eIPO service or through the CCASS EIPO
+service, including the Hong Kong identity card numbers, passport numbers, Hong Kong business
+registration numbers or certificate of incorporation numbers of successful applicants (where
+applicable) and the number of Hong Kong Offer Shares successfully applied for, will be made
+available at the times and dates and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.yzybio.com and the
+Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on Friday,
+September 22, 2023. Please note that the list of identification document numbers set out in
+this announcement may not be a complete list of successful applicants since only successful
+applicants whose identification document numbers are provided to HKSCC by CCASS
+Participants or via the White Form eIPO service are disclosed. Applicants with beneficial
+names only but not identification document numbers are not disclosed due to personal
+privacy issue as elaborated below. Applicants who applied for the Hong Kong Offer Shares
+through their brokers or nominees can consult their brokers or nominees to enquire about
+their application results;
+• from the designated results of allocations website at www.iporesults.com.hk (alternatively:
+English https://www.eipo.com.hk/en/Allotment; Chinese https://www.eipo.com.hk/zh-hk/Allotment)
+with a “search by ID ” function on a 24-hour basis from 8:00 a.m. on Friday, September 22,
+2023 to 12:00 midnight on Thursday, September 28, 2023; and
+• from the allocation results telephone enquiry by calling +852 2862 8555 between 9:00 a.m.
+and 6:00 p.m. on Friday, September 22, 2023, Monday, September 25, 2023, Tuesday,
+September 26, 2023 and Wednesday, September 27, 2023.
+
+
+--- page 19 ---
+21
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ” in this
+announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong business
+registration numbers/certificate of incorporation numbers/beneficial owner identification codes (if
+such applications are made by nominees as agent for the benefit of another person), whereas those
+displayed in the section headed “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS Participants
+via CCASS. Therefore, the identification document numbers shown in the two sections are
+different in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by White
+Form eIPO ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 20 ---
+22
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the Global Offering is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placees Subscription
+Number of H
+Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offering
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming full
+exercise of
+Over-allotment
+Option)
+Subscription
+as % of total
+Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Subscription as
+% of total
+Offer Shares
+(assuming full
+exercise of
+Over-allotment
+Option)
+% of total H
+share capital
+upon Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+% of total H
+share capital
+upon Listing
+(assuming full
+exercise of
+Over-allotment
+Option)
+% of total issued
+share capital
+upon Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+% of total issued
+share capital
+upon Listing
+(assuming full
+exercise of
+Over-allotment
+Option)
+Top 1 3,359,800 3,359,800 3,359,800 33.93% 29.09% 30.54% 26.56% 3.04% 2.99% 1.74% 1.73%
+Top 5 10,913,400 10,913,400 16,513,400 110.23% 94.48% 99.20% 86.26% 9.87% 9.72% 8.56% 8.48%
+Top 10 11,391,000 11,391,000 16,991,000 115.05% 98.61% 103.54% 90.04% 10.30% 10.15% 8.80% 8.73%
+Top 20 11,531,400 11,531,400 17,131,400 116.47% 99.83% 104.82% 91.15% 10.42% 10.27% 8.88% 8.80%
+Top 25 11,532,400 11,532,400 17,132,400 116.48% 99.84% 104.83% 91.16% 10.43% 10.27% 8.88% 8.80%
+
+
+--- page 21 ---
+23
+• Top 1, 5, 10, 20 and 25 Shareholders of the Company upon Listing:
+Shareholders
+Subscription
+of Hong Kong
+Offer Shares
+Subscription of
+International
+Offer Shares
+Subscription
+of Total Offer
+Shares
+Number of H
+Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of Hong
+Kong Public
+Offering
+Subscription
+as % of
+International
+Offering
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming
+full exercise
+of Over-
+allotment
+Option)
+Subscription
+as % of total
+Offer Shares
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+Subscription
+as % of total
+Offer Shares
+(assuming
+full exercise
+of Over-
+allotment
+Option)
+% of total H
+share capital
+upon Listing
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+% of total H
+share capital
+upon Listing
+(assuming
+full exercise
+of Over-
+allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming
+full exercise
+of Over-
+allotment
+Option)
+Top 1 – – – – 54,262,305 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28.12% 27.88%
+Top 5 – 2,686,000 2,686,000 71,560,960 150,692,510 0.00% 27.13% 23.25% 24.42% 21.23% 64.69% 63.74% 78.08% 77.42%
+Top 10 – 8,531,000 8,531,000 100,148,018 179,279,568 0.00% 86.16% 73.86% 77.55% 67.43% 90.53% 89.20% 92.89% 92.10%
+Top 20 – 10,913,400 10,913,400 110,533,014 192,543,313 0.00% 110.23% 94.48% 99.20% 86.26% 99.92% 98.45% 99.76% 98.92%
+Top 25 104,000 11,306,000 11,410,000 111,029,614 193,410,000 9.45% 114.19% 97.88% 103.72% 90.19% 100.37% 98.89% 100.21% 99.36%
+
+
+--- page 22 ---
+24
+• Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company (the “H Shareholders ”) upon Listing:
+H Shareholders
+Subscription
+of Hong Kong
+Offer Shares
+Subscription of
+International
+Offer Shares
+Subscription
+of Total Offer
+Shares
+Number of H
+Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of Hong
+Kong Public
+Offering
+Subscription
+as % of
+International
+Offering
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming
+full exercise
+of Over-
+allotment
+Option)
+Subscription
+as % of total
+Offer Shares
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+Subscription
+as % of total
+Offer Shares
+(assuming
+full exercise
+of Over-
+allotment
+Option)
+% of total H
+share capital
+upon Listing
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+% of total H
+share capital
+upon Listing
+(assuming
+full exercise
+of Over-
+allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming
+full exercise
+of Over-
+allotment
+Option)
+Top 1 – – – 51,241,785 51,241,785 0.00% 0.00% 0.00% 0.00% 0.00% 46.32% 45.64% 26.55% 26.32%
+Top 5 – – – 85,806,813 90,865,852 0.00% 0.00% 0.00% 0.00% 0.00% 77.57% 76.43% 47.08% 46.68%
+Top 10 – 8,531,000 8,531,000 102,067,184 126,936,429 0.00% 86.16% 73.86% 77.55% 67.43% 92.27% 90.91% 65.77% 65.21%
+Top 20 59,400 11,306,000 11,365,400 110,985,014 135,854,259 5.40% 114.19% 97.88% 103.31% 89.84% 100.33% 98.85% 70.39% 69.79%
+Top 25 282,400 11,306,000 11,588,400 111,208,014 136,077,259 25.67% 114.19% 97.88% 105.34% 91.60% 100.53% 99.05% 70.51% 69.91%
+In view of the high concentration of shareholding in a small number of H Shareholders, Shareholders and prospective investors
+should be aware that the price of the H Shares could move substantially even with a small number of Shares traded, and should
+exercise extreme caution when dealing in H Shares.
diff --git a/data/extracted_text/02498/allotment_results_2024-01-04_2024010401780.txt b/data/extracted_text/02498/allotment_results_2024-01-04_2024010401780.txt
new file mode 100644
index 0000000..fc44ef7
--- /dev/null
+++ b/data/extracted_text/02498/allotment_results_2024-01-04_2024010401780.txt
@@ -0,0 +1,1007 @@
+--- page 1 ---
+1
+Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those defined in
+the Hong Kong prospectus dated December 27, 2023 (the “ Prospectus ”) of RoboSense Technology Co., Ltd (the “ Company”).
+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 for information purposes only and does not constitute an invitation or offer to acquire, purchase or
+subscribe for any securities. This announcement is not a prospectus. Potential investors should read the Prospectus for detailed
+information about the Company and the Global Offering described below before deciding whether or not to invest in the Offer
+Shares.
+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 to sell or solicitation to purchase or subscribe for securities in the United States or in any other
+jurisdiction. The 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 any state securities laws of the United States.
+The securities 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. There will be no public offer of the Offer Shares in the
+United States. The Offer Shares are being offered and sold (1) solely to qualified institutional buyers as defined in Rule 144A
+under the U.S. Securities Act pursuant to an exemption from registration under the U.S. Securities Act and (2) outside the United
+States in transactions in reliance on Regulation S under the U.S. Securities Act.
+In connection with the Global Offering, J.P. Morgan Securities (Asia Pacific) Limited, as stabilizing manager (the “ Stabilizing
+Manager”), its affiliates or any person acting for it, on behalf of the Underwriters, may effect transactions with a view to
+stabilizing or supporting the market price of the Shares at a level higher than that which might otherwise prevail for a limited
+period on and after the Listing Date. However, there is no obligation on the Stabilizing Manager, its affiliates or any person
+acting for it, to conduct any such stabilizing action, which, if commenced, will be done at the sole and absolute discretion of the
+Stabilizing Manager, its affiliates or any person acting for it, and may be discontinued at any time. Any such stabilizing activity
+is required to be brought to an end on the 30th day after the last day for the lodging of applications under the Hong Kong Public
+Offering, being Thursday, February 1, 2024. Such stabilization action, if taken, may be effected in all jurisdictions where it
+is permissible to do so, in each case in compliance with all applicable laws, rules and regulatory requirements, including the
+Securities and Futures (Price Stabilizing) Rules (Cap. 571W of the Laws of Hong Kong), as amended, made under the Securities
+and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).
+Potential investors should be aware that stabilizing action cannot be taken to support the price of the Shares for longer than the
+stabilization period which begins on the Listing Date and is expected to expire on Thursday, February 1, 2024, being the 30th
+day after the last day for the lodging of applications under the Hong Kong Public Offering. After this date, no further stabilizing
+action may be taken, demand for the Shares, and therefore the price of the Shares, could fall.
+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 “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 Friday, January 5, 2024).
+In connection with the Global Offering, the Company is expected to grant the Over-allotment Option to the International
+Underwriters, exercisable by the Overall Coordinators (on behalf of the International Underwriters). Pursuant to the Over-
+allotment Option, the International Underwriters will have the right, exercisable by the Overall Coordinators (on behalf of the
+International Underwriters) at any time from the Listing Date until 30 days after the last day for lodging applications under the
+Hong Kong Public Offering, to require the Company to issue up to an aggregate of 3,436,400 additional Shares, representing
+not more than 15% of the total number of Offer Shares initially available under the Global Offering, at the Offer Price under the
+International Offering to, cover over-allocations (if any) in the International Offering.
+
+
+--- page 2 ---
+2
+ROBOSENSE TECHNOLOGY CO., LTD
+ʮ̡
+(Incorporated in the Cayman Islands with limited liability)
+GLOBAL OFFERING
+Number of Offer Shares under the
+Global Offering
+: 22,909,800 Offer Shares
+Number of Hong Kong Offer Shares : 1,339,000 Offer Shares
+Number of International Offer Shares : 21,570,800 Offer Shares
+Offer Price : HK$43.00 per Offer Share plus brokerage
+of 1.0%, SFC transaction levy of 0.0027%,
+AFRC transaction levy of 0.00015% and
+Stock Exchange trading fee of 0.00565%
+Nominal value : US$0.0001 per Offer Share
+Stock code : 2498
+Joint Sponsors, Overall Coordinators, Joint Global Coordinators,
+Joint Bookrunners and Joint Lead Managers
+Overall Coordinators, Joint Global Coordinators,
+Joint Bookrunners and Joint Lead Managers
+Joint Bookrunners and Joint Lead Managers
+Joint Lead Manager
+
+
+--- page 3 ---
+ASIA-DOCS\12951673.8
+ROBOSENSE TECHNOLOGY CO., LTD / 速騰聚創科技有限公司
+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 December 27, 2023 (the “Prospectus”) issued by RoboSense
+Technology Co., Ltd (the “Company”).
+SUMMARY
+
+Company information
+Stock code 2498
+Stock short name ROBOSENSE
+Dealings commencement date January 5, 2024*
+*see note at the end of the announcement
+
+Price Information
+Final Offer Price HK$43.000
+Offer Price Range N/A
+Offer Price Adjustment exercised No
+
+Offer Shares and Share Capital
+Number of Offer Shares 22,909,800
+Number of Offer Shares in Public Offer (after reallocation) 1,339,000
+Number of Offer Shares in International Offer (after
+reallocation)
+21,570,800
+Number of issued Shares upon Listing (assuming the Over-
+allotment Option is not exercised)
+449,211,723
+
+The number of offer shares above is determined after taking into account the additional shares issued
+under the following Offer Size Adjustment Option
+
+Offer Size Adjustment Option (Upsize option)
+Number of additional shares issued under the option -
+- Public Offer -
+- International Offer -
+
+Over-allocation
+No. of Offer Shares over-allocated 2,863,700
+Such over-allocation may be covered by exercising the Over-allotment Option or by making purchases
+in the secondary market at prices that do not exceed the Offer Price or a combination of these means.
+In the event the Over-allotment Option is exercised, an announcement will be made on the Stock
+Exchange’s website.
+
+Proceeds
+Gross proceeds (Note) HK$ 985.12 million
+Less: Estimated listing expenses payable based on Final
+Offer Price
+HK$ (108.11) million
+Net proceeds HK$ 887.01 million
+
+
+--- page 4 ---
+ASIA-DOCS\12951673.8
+Note: Gross proceeds refers to the amount to which the issuer is entitled receive, assuming the Over-
+allotment Option is not exercised. For details of the use of proceeds, please refer to the Prospectus dated
+December 27, 2023.
+
+
+ALLOTMENT RESULTS DETAILS
+PUBLIC OFFER
+
+No. of valid applications 1,786
+No. of successful applications 1,786
+Subscription level 0.58 times
+Claw-back triggered No
+No. of Offer Shares initially available under the Public Offer 2,291,000
+No. of Offer Shares reallocated to the International Offer (claw-
+forward)
+952,000
+Final no. of Offer Shares under the Public Offer (after
+reallocation)
+1,339,000
+% of Offer Shares under the Public Offer to the Global Offering
+(after over-allocation)
+5.20%
+
+Note: For details of the final allocation of shares to the Public Offer, investors can refer to
+https://www.hkeipo.hk/IPOResult to perform a search by name or identification number or
+https://www.hkeipo.hk/IPOResult for the full list of allottees.
+INTERNATIONAL OFFER
+
+No. of placees 121
+Subscription Level 1.28 times
+No. of Offer Shares initially available under the International
+Offer
+20,618,800
+No. of Offer Shares reallocated from the Public Offer (claw-
+forward)
+952,000
+Final no. of Offer Shares under the International Offer (after
+reallocation and over-allocation)
+24,434,500
+% of Offer Shares under the International Offer to the Global
+Offering (after over-allocation)
+94.80%
+
+Save as the allocation of Offer Shares to a financial institution engaged by Zhuji Kangchengheng Juchuang
+Equity Investment Partnership (Limited Partnership), a close associate of two minority existing Shareholders
+of the Company, to subscribe for and hold the relevant Offer Shares on a discretionary basis on its behalf,
+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, substantial shareholders, 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, chief executive of the Company, substantial shareholders, existing shareholders of the
+Company 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.
+
+
+--- page 5 ---
+ASIA-DOCS\12951673.8
+
+The placees in the International Offer include the following:
+Cornerstone Investors
+
+Investor
+No. of
+Offer
+Shares
+allocated
+% of Offer
+Shares
+(assuming the
+Over-
+allotment
+Option is not
+exercised)
+% of total
+issued share
+capital after the
+Global Offering
+(assuming the Over-
+allotment Option is
+not exercised)
+Existing
+shareholders or
+their close
+associates
+Shenzhen Nanshan
+Strategic Emerging
+Industries
+Investment Co., Ltd.
+/ 深圳市南山戰略新
+興產業
+投資有限公司 18,166,000 79.29% 4.04% No
+Total 18,166,000 79.29% 4.04%
+
+Allottees with waivers/consents obtained
+
+Investor
+No. of
+shares
+allocated
+% of offer
+Shares
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of total issued
+share capital after
+the Global Offering
+(assuming the Over-
+allotment Option is
+not exercised) Relationship*
+Zhuji
+Kangchengheng
+Juchuang Equity
+Investment
+Partnership (Limited
+Partnership) / 諸暨
+康成亨聚創股權投
+資合夥企業(有限
+合夥)
+6,066,700 26.48% 1.35%
+Close associate of
+existing
+shareholders
+Total 6,066,700 26.48% 1.35%
+
+Note: Zhuji Kangchengheng Juchuang Equity Investment Partnership (Limited Partnership) and the two
+minority existing Shareholders, which are its close associates, will hold approximately 1.9 5% of the total
+issued share capital of the Company immediately following the Global Offering (assuming the Over-allotment
+Option is not exercised). For details, please refer to the section headed "OTHERS / ADDITIONAL
+INFORMATION" below.
+LOCK-UP UNDERTAKINGS
+Major Pre-IPO Investors (As defined in the History, Reorganization and Corporate Structure section of the
+Prospectus)
+
+
+--- page 6 ---
+ASIA-DOCS\12951673.8
+ 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 (assuming the
+Over-allotment Option is
+not exercised)
+Last day subject to the
+lock-up undertakings
+Shanghai Anpeng Supeng
+Enterprise Management
+Partnership (Limited
+Partnership) /上海安鵬
+速鵬企業管理合夥企業
+(有限合夥)
+5,068,594 1.13% July 4, 2024
+Zhuhai Beiqi Huajin
+Industry Equity Investment
+Fund (Limited Partnership)
+/珠海北汽華金產業股權
+投資基金(有限合夥)
+2,269,211 0.51% July 4, 2024
+Cainiao Smart Logistics
+Investment Limited
+47,005,063 10.46% July 4, 2024
+China Mobile Fund (Hebei
+Xiong’an) Partnership
+(Limited Partnership) /中移
+股權基金(河北雄安)合夥
+企業(有限合夥)
+5,170,188 1.15% July 4, 2024
+Golden Development Asia
+Limited
+15,361,813 3.42% July 4, 2024
+Huaxing Growth Capital
+III, L.P.
+7,333,386 1.63% July 4, 2024
+EverestHeng (Cayman)
+Limited
+11,374,415 2.53% July 4, 2024
+Fortune Athena Limited 6,495,271 1.45% July 4, 2024
+Fortune Miner Limited 1,010,509 0.22% July 4, 2024
+Shanghai Rui Wang
+Enterprise Management
+Partnership (Limited
+Partnership) /上海銳望企
+業管理合夥企業(有限合
+夥)
+6,268,064 1.40% July 4, 2024
+Guangzhou Ruiyi Venture
+Capital Partnership
+(Limited Partnership) /廣州
+銳熠創業投資合夥企業
+(有限合夥)
+915,297 0.20% July 4, 2024
+GCF Robotics Ltd 7,333,386 1.63% July 4, 2024
+Gotrays International
+Limited
+7,404,946 1.65% July 4, 2024
+Storm Era Limited 7,404,946 1.65% July 4, 2024
+Huzhou Yuntong
+Investment Partnership
+(Limited Partnership) /湖州
+贇通股權投資合夥企業
+(有限合夥)
+2,541,520 0.57% July 4, 2024
+
+
+--- page 7 ---
+ASIA-DOCS\12951673.8
+ 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 (assuming the
+Over-allotment Option is
+not exercised)
+Last day subject to the
+lock-up undertakings
+Huzhou Yutong Investment
+Partnership (Limited
+Partnership) /湖州煜通股
+權投資合夥企業(有限合
+夥)
+1,815,368 0.40% July 4, 2024
+Liaoning Haitong New
+Energy and Low Carbon
+Industry Private Equity
+Fund Co., Ltd. /遼寧海
+通新能源低碳產業股權投
+資基金有限公司
+2,904,586 0.65% July 4, 2024
+Kinzon Capital Venture
+Partners II, L.P.
+17,002,869 3.79% July 4, 2024
+Kinzon Capital Venture
+Partners III, L.P.
+2,444,462 0.54% July 4, 2024
+LUXSHARE LIMITED /立
+訊有限公司
+10,000,000 2.23% July 4, 2024
+Ningbo Jumin Investment
+LLP. /寧波高新區岠珉股
+權投資合夥企業(有限合
+夥)
+5,082,984 1.13% July 4, 2024
+OFC INNOVATION
+ANGEL FUND I /東方富
+海(蕪湖)移動創新股權投
+資基金(有限合夥)
+8,045,851 1.79% July 4, 2024
+OFC INNOVATION
+ANGEL FUND II /富海深
+灣(蕪湖)移動創新股權投
+資基金(有限合夥)
+4,791,340 1.07% July 4, 2024
+OFC Clean Tech Growth
+(Limited Partnership) /深圳
+市東方富海成長環保投資
+企業(有限合夥)
+147,140 0.03% July 4, 2024
+Shenzhen Fuhai Juanyong
+Entrepreneurship
+Management Partnership
+(Limited Partnership) /深
+圳富海隽永創業管理合夥
+企業(有限合夥)
+858,306 0.19% July 4, 2024
+SME Development Fund
+(Shenzhen Nanshan
+Limited Partnership) /中小
+企業發展基金(深圳南山
+有限合夥)
+1,487,746 0.33% July 4, 2024
+
+
+--- page 8 ---
+ASIA-DOCS\12951673.8
+ 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 (assuming the
+Over-allotment Option is
+not exercised)
+Last day subject to the
+lock-up undertakings
+PUHE Realwin Venture
+Capital. LP /深圳市普禾瑞
+贏股權投資基金合夥企業
+(有限合夥)
+4,616,424 1.03% July 4, 2024
+PUHE Intelligent Venture
+Capital. LP/ 深圳市普禾智
+能一號投資合夥企業(有
+限合夥)
+8,294,235 1.85% July 4, 2024
+Changzhou Shangqi Xinhui
+Equity Investment Fund
+(LLP) /常州尚頎信輝股權
+投資基金合夥企業(有限
+合夥)
+1,429,373 0.32% July 4, 2024
+Yangzhou Shangqi Sanqi
+Venture Capital Fund
+Center (Limited
+Partnership) /揚州尚頎三
+期創業投資基金中心(有
+限合夥)
+3,787,830 0.84% July 4, 2024
+Smart Han Ltd 6,351,246 1.41% July 4, 2024
+SinoRock Prosperous
+Global II Limited
+5,687,206 1.27% July 4, 2024
+Cinda Sino-Rock
+Investment Limited / 信達
+漢石投資有限公司
+979,706 0.22% July 4, 2024
+Shanghai Ziyue Enterprise
+Management Consulting
+Partnership (Limited
+Partnership) /上海籽月
+企業管理諮詢合夥企業
+(有限合夥)
+10,000,000 2.23% July 4, 2024
+YF Robosence Limited 7,565,066 1.68% July 4, 2024
+Sinoyutong International
+Limited /香港盛宇國際有
+限公司
+10,831,073 2.41% July 4, 2024
+Subtotal 247,079,420 55.00%
+
+The expiry date of the lock-up period shown in the table above is pursuant to the disclosure in the Prospectus.
+
+Existing Shareholders Other than Major Pre-IPO Investors (As defined in the History, Reorganization and
+Corporate Structure section of the Prospectus)
+
+
+--- page 9 ---
+ASIA-DOCS\12951673.8
+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 (assuming the
+Over-allotment Option is
+not exercised)
+Last day subject to the
+lock-up undertakings
+BlackPearl Global Limited 49,367,683 10.99% July 4, 2024
+Emerald Forest
+International Limited
+29,604,176 6.59% July 4, 2024
+Sixsense Global Limited 18,110,571 4.03% July 4, 2024
+Robust Limited 13,450,225 3.00% July 4, 2024
+Ruby International Limited 4,849,401 1.08% July 4, 2024
+Hoping Dream
+International Limited
+17,210,526 3.83% July 4, 2024
+Logi Group Limited 3,868,136 0.86% July 4, 2024
+AFFLUENT CAPITAL
+VENTURES LIMITED /豐
+都創投有限公司
+1,010,508 0.22% July 4, 2024
+Skyward Limited 1,010,508 0.22% July 4, 2024
+Shenzhen Jiaxin Yuande
+Equity Investment Fund
+Partnership (Limited
+Partnership) /深圳
+市嘉信元德股權投資基金
+合夥企業(有限合夥)
+1,798,356 0.40% July 4, 2024
+Shenzhen Kangcheng
+Pengfeng Rongcheng
+Investment Partnership
+(Limited Partnership) / 深
+圳市康成鵬峰榮承投資合
+夥企業(有限合夥)
+899,187 0.20% July 4, 2024
+Zhongruichuangzhi
+(Ningbo) Equity
+Investment Management
+Partnership (Limited
+Partnership) / 中瑞創智(寧
+波)股權投資管理合
+夥企業(有限合夥)
+776,562 0.17% July 4, 2024
+FULL WISDOM
+VENTURES LIMITED /滿
+慧創投有限公司
+1,634,886 0.36% July 4, 2024
+Jiaxing Qiyuan Kaitai
+Equity Investment
+Partnership (Limited
+Partnership) /嘉興啟元開
+泰股權投資合夥企業(有
+限合夥)
+2,452,310 0.55% July 4, 2024
+EOE Limited 858,306 0.19% July 4, 2024
+Guangdong Innovative
+Lingyue Smart
+Manufacturing &
+Information Technology
+2,452,310 0.55% July 4, 2024
+
+
+--- page 10 ---
+ASIA-DOCS\12951673.8
+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 (assuming the
+Over-allotment Option is
+not exercised)
+Last day subject to the
+lock-up undertakings
+Investment Fund Limited
+Liability Partnership / 廣東
+融創嶺岳智能製造與信息
+技術產業股權投
+資基金合夥企業(有限合
+夥)
+Flow Limited 613,073 0.14% July 4, 2024
+Huizhou Desay SV
+Automotive Co., Ltd. /惠
+州市德賽西威汽車電子股
+份有限公司
+2,500,000 0.56% July 4, 2024
+GOLDEN LINK
+WORLDWIDE LIMITED
+2,600,000 0.58% July 4, 2024
+Xiamen Starlight Equity
+Investment Partnership
+(L.P.) / 廈門星韶股權投資
+合夥企業(有限合夥)
+1,700,000 0.38% July 4, 2024
+Suzhou Chenling
+Investment Partnership
+(Limited Partnership) / 蘇
+州晨嶺投資合夥
+企業(有限合夥)
+3,800,000 0.85% July 4, 2024
+GREAT VIRTUOUS
+LIMITED
+3,782,533 0.84% July 4, 2024
+Wuhan Zhisu Engine
+Equity Investment Fund
+Partnership (Limited
+Partnership) /武漢智速引
+擎股權投資基金合夥企業
+(有限合夥)
+366,669 0.08% July 4, 2024
+Ningbo Zhixing Engine
+Equity Investment
+Partnership (Limited
+Partnership) / 寧波智行引
+擎股權投資合夥企業(有
+限合夥)
+855,561 0.19% July 4, 2024
+Guangdong Guangqi
+Ruiteng Equity
+Investment Partnership
+(Limited Partnership) /廣東
+廣祺瑞騰股權投資合夥企
+業(有限合夥)
+3,782,533 0.84% July 4, 2024
+Excel Rise Holdings
+Limited /逸昇控股有限公
+司
+2,585,094 0.58% July 4, 2024
+
+
+--- page 11 ---
+ASIA-DOCS\12951673.8
+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 (assuming the
+Over-allotment Option is
+not exercised)
+Last day subject to the
+lock-up undertakings
+Guangzhou Yuexiu Jinchan
+Phase IV
+Investment Partnership
+(Limited Partnership) / 廣
+州越秀金蟬四期投資合夥
+企業(有限合夥)
+2,843,603 0.63% July 4, 2024
+Mirae Asset Alpha Growth
+Fund OFC
+2,018,195 0.45% July 4, 2024
+Jurastone Tech Singularity
+I Ltd
+431,070 0.10% July 4, 2024
+HUITENG CO-STONE
+INVESTMENT LIMITED
+1,421,801 0.32% July 4, 2024
+China World Investment
+Limited
+568,720 0.13% July 4, 2024
+Subtotal 179,222,503 39.90%
+
+The expiry date of the lock-up period shown in the table above is pursuant to the disclosure in the Prospectus.
+
+Cornerstone Investor
+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 (assuming the
+Over-allotment Option is
+not exercised)
+Last day subject to the
+lock-up undertakings
+Shenzhen Nanshan
+Strategic Emerging
+Industries Investment Co.,
+Ltd. / 深圳市南山戰略新
+興產業投資有限公司
+18,166,000 4.04% July 4, 2024
+Subtotal 18,166,000 4.04%
+
+The expiry date of the lock-up period shown in the table above is pursuant to the disclosure in the Prospectus.
+
+
+--- page 12 ---
+ASIA-DOCS\12951673.8
+PLACEE CONCENTRATION ANALYSIS
+Placees
+Number of
+Shares allotted
+
+Allotment as % of
+International Offering
+(assuming no exercise of
+the Over-allotment
+Option)
+Allotment as % of
+International Offering
+(assuming the Over-
+allotment Option)
+Allotment as % of total
+Offer Shares (assuming no
+exercise of the Over-
+allotment Option)
+Allotment as % of total
+Offer Shares (assuming
+the Over-allotment
+Option is exercised)
+Number of
+ Shares held upon Listin g
+
+% of total issued share
+capital upon Listing
+(assuming no exercise of the
+Over-allotment Option)
+·% of total issued share
+capital upon Listing
+(assuming the Over-
+allotment Option is
+exercised)
+Top 1 18,166,000 84.22% 74.35% 79.29% 70.48% 18,166,000 4.04% 4.02%
+Top 5 24,350,500 112.89% 99.66% 106.29% 94.48% 27,048,043 6.02% 5.98%
+Top 10 24,419,500 113.21% 99.94% 106.59% 94.75% 27,117,043 6.04% 6.00%
+Top 25 24,424,900 113.23% 99.96% 106.61% 94.77% 27,122,443 6.04% 6.00%
+
+Notes
+* Ranking of placees is based on the number of Shares allotted to the placees.
+
+
+--- page 13 ---
+ASIA-DOCS\12951673.8
+
+SHAREHOLDER CONCENTRATION ANALYSIS
+Sharehold
+ers
+Number of
+ Shares all
+otted
+
+Allotment as %
+of
+International
+Offering
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Allotment as %
+of
+International
+Offering
+(assuming the
+Over-
+allotment
+Option is
+exercised)
+Allotment as %
+of total Offer
+Shares
+(assuming no
+exercise of the
+Over-
+allotment
+Option)
+Allotment as
+% of total
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised)
+Number of
+Shares held
+upon Listing
+
+% of total
+issued share
+capital upon
+Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming the
+Over-allotment
+Option is
+exercised)
+Top 1 0 0.00% 0.00% 0.00% 0.00% 49,367,683 10.99% 10.92%
+Top 5 0 0.00% 0.00% 0.00% 0.00% 168,119,45 2 37.43% 37.19%
+Top 10 18,166,00
+0
+84.22% 74.35% 79.29% 70.48% 251,746,82 4 56.04% 55.69%
+Top 25 24,232,70
+0
+112.34% 99.17% 105.77% 94.02% 385,271,96 0 85.77% 85.22%
+
+Notes
+* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.
+
+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
+APPLICATION S
+BASIS OF
+ALLOTMENT/BALLOT
+APPROXIMATE
+PERCENTAGE ALLOTTED
+OF THE TOTAL NO. OF
+SHARES APPLIED FOR
+100 1,040 100 Shares 100.00%
+200 239 200 Shares 100.00%
+300 74 300 Shares 100.00%
+400 48 400 Shares 100.00%
+500 88 500 Shares 100.00%
+600 20 600 Shares 100.00%
+700 18 700 Shares 100.00%
+800 8 800 Shares 100.00%
+900 7 900 Shares 100.00%
+1,000 108 1,000 Shares 100.00%
+1,500 19 1,500 Shares 100.00%
+2,000 39 2,000 Shares 100.00%
+2,500 9 2,500 Shares 100.00%
+3,000 12 3,000 Shares 100.00%
+3,500 4 3,500 Shares 100.00%
+4,000 1 4,000 Shares 100.00%
+
+
+--- page 14 ---
+ASIA-DOCS\12951673.8
+4,500 3 4,500 Shares 100.00%
+5,000 6 5,000 Shares 100.00%
+6,000 5 6,000 Shares 100.00%
+7,000 5 7,000 Shares 100.00%
+8,000 2 8,000 Shares 100.00%
+9,000 1 9,000 Shares 100.00%
+10,000 17 10,000 Shares 100.00%
+20,000 7 20,000 Shares 100.00%
+30,000 2 30,000 Shares 100.00%
+50,000 1 50,000 Shares 100.00%
+60,000 1 60,000 Shares 100.00%
+80,000 2 80,000 Shares 100.00%
+Total 1,786 1,339,000 Shares
+
+
+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
+participant s. Investors should contact their relevant brokers for any inquir ies.
+
+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.
+
+OTHERS / ADDITIONAL INFORMATION
+Placing with the Consent under Paragraph 5(2) of Placing Guidelines and Rule 10.04 of the Listing
+Rules
+
+Zhuji Kangchengheng Juchuang Equity Investment Partnership (Limited Partnership)
+("Kangchengheng") placed an order for a structured investment product embedded with a total return
+swap in the amount of RMB240.80 million (equivalent to HK$260.87 million, at an exchange rate of
+HK$1.00 to RMB0.923) ("Client TRS SIP") to be issued by an independent financial institution (the
+"Financial Institution"), who will place a back-to-back total return swap order ("Back-to-back TRS",
+together with the Client TRS SIP, the "OTC Transaction") with another institution (the "Hedging
+Institution", which is an associated company of the Financial Institution, and each of the Financial
+Institution and the Hedging Institution is not a syndicate CMI, distributor, broker or "connected client"
+(as defined under Appendix F1 to the Listing Rules)). Under the International Offering, the Hedging
+Institution has been placed with 6,066,700 Offer Shares at the Offer Price, representing approximately
+26.48% of the total number of Offer Shares initially available under the Global Offering and
+approximately 1.35% of the total issued share capital of the Company upon completion of the Global
+Offering (assuming the Over-allotment Option is not exercised). Under the terms and conditions of the
+OTC Transaction, the Hedging Institution will hold the title of the Shares on behalf of Kangchengheng
+and pass through the economic return (or economic loss) in respect of the Shares underlying the OTC
+
+
+--- page 15 ---
+ASIA-DOCS\12951673.8
+Transaction to Kangchengheng. The Client TRS SIP is fully funded by Kangchengheng.
+
+Kangchengheng is a close associate of two existing Shareholders of the Company, namely Shenzhen
+Jiaxin Yuande Equity Investment Fund Partnership (Limited Partnership) ("Jiaxin Yuande") and
+Shenzhen Kangcheng Pengfeng Rongcheng Investment Partnership (Limited Partnership) ("Pengfeng
+Rongcheng"), which held approximately 0.42% and 0.21% in the Company's total issued share capital
+as of the date of the Prospectus, respectively. The general partner of Jiaxin Yuande is Shenzhen Jialin
+Xinye Equity Investment Management Co., Ltd., which is held as to over 50% by Shenzhen
+Kangchengheng Capital Management Group Limited ("Kangchengheng Capital Management"), and the
+general partner of Pengfeng Rongcheng is Shenzhen KCH Asset Management Co., Ltd. ("Shenzhen KCH
+Asset Management"), which is owned as to approximately 93.33% by Kangchengheng Capital
+Management. As the general partner of Kangchengheng is Shenzhen KCH Asset Management, which
+holds 1% interest in Kangchengheng, Kangchengheng is therefore a close associate of each of Jiaxin
+Yuande and Pengfeng Rongcheng as they are all under the common control of Kangchengheng Capital
+Management.
+
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a waiver from
+strict compliance with Rule 10.04 of the Listing Rules and its consent under paragraph 5(2) of the
+Placing Guidelines to permit the Company to allocate such Offer Shares in the International Offering to
+Kangchengheng. The Offer Shares allocated to Kangchengheng is in compliance with all the conditions
+under the consent granted by the Stock Exchange.
+
+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 men tioned
+herein have not been, and will not be, registered under the United States Securities Act of 1933, as
+amended (the “U.S. Securities Act”). The securities may not be offered or sold in the United States
+except pursuant to an exemption from the registr ation requirements of the U.S. Securities Act and in
+compliance with any applicable state securities laws, or outside the United States unless in
+compliance with Regulation S under the U.S. Securities Act. There will be no public offer of
+securities in the United States .
+The Offer Shares are being offered and sold (1) solely to qualified institutional buyers as defined in Rule
+144A under the U.S. Securities Act pursuant to an exemption from registration under the U.S. Securities
+Act and (2) outside the Uni ted 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 invitation or offer to
+acquire, purchase or subscribe for securities. This announcement is not a prospectus. Potential
+investors should read the Prospectus dated 27 December 2023 issued by RoboSense Technology Co.,
+Ltd for detailed information about the Global Offering described below before deciding whether or
+not to invest in the Shares thereby being offered.
+
+
+--- page 16 ---
+ASIA-DOCS\12951673.8
+
+*Potential investors of the Offer Shares should note that the Joint Sponsors and the Overall
+Coordinator s (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 – Hong Kong Underwriting
+Agreement – Grounds for Terminatio n” in the Prospectus at any time prior to 8:00 a.m. (Hong Kong
+time) on the Listing Date (which is currentl y expected to be on January 5, 2024).
+
+
+--- page 17 ---
+3
+PUBLIC FLOAT
+Immediately after completion of the Global Offering, (i) more than 25% of the total issued Shares
+will be held by the public in compliance with Rule 8.08(1)(a) of the Listing Rules; (ii) the three
+largest public Shareholders will not hold more than 50% of the Shares held in the public hands at
+the time of Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules; and (iii) there
+will be at least 300 Shareholders at the time of Listing in compliance with Rule 8.08(2) of the
+Listing Rules.
+The Directors confirm that immediately after the completion of the Global Offering, (i) no placee
+will, individually, be placed more than 10% of the enlarged issued share capital of the Company;
+and (ii) there will not be any new substantial shareholder (as defined in the Listing Rules) of the
+Company.
+OVER-ALLOTMENT OPTION
+In connection with the Global Offering, the Company is expected to grant the Over-allotment
+Option to the International Underwriters, exercisable by the Overall Coordinators (on behalf of the
+International Underwriters). Pursuant to the Overallotment Option, the International Underwriters
+will have the right, exercisable by the Overall Coordinators (on behalf of the International
+Underwriters) at any time from the Listing Date until 30 days after the last day for lodging
+applications under the Hong Kong Public Offering, to require the Company to issue up to an
+aggregate of 3,436,400 additional Shares, representing not more than 15% of the total number of
+Offer Shares initially available under the Global Offering, at the Offer Price under the International
+Offering to, cover over-allocations (if any) in the International Offering.
+There has been an over-allocation of 2,863,700 Offer Shares in the International Offering and
+such over-allocation will be settled by using the Shares borrowed under the Stock Borrowing
+Agreement. Such borrowed Shares will be covered by amongst other methods, exercising the
+Over-allotment Option in full or in part or by using Shares purchased by the Stabilizing Manager
+(or through its affiliates or any person acting for it) in the secondary market at prices that do not
+exceed the Offer Price or a combination of these means. In the event the Over-allotment Option is
+exercised, an announcement will be made on the Stock Exchange’s website at www.hkexnews.hk
+and the Company’s website at www.robosense.ai/en. As of the date of this announcement, the Over-
+allotment Option has not been exercised.
+COMMENCEMENT OF DEALINGS
+Share certificates will only become valid evidence of title at 8:00 a.m. on Friday, January 5, 2024,
+provided that the Global Offering has become unconditional in all respects at or before that time.
+Investors who trade Shares on the basis of publicly available allocation details or 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.
+
+
+--- page 18 ---
+4
+Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. (Hong Kong time)
+on Friday, January 5, 2024, it is expected that dealings in the Shares on the Stock Exchange will
+commence at 9:00 a.m. on Friday, January 5, 2024. The Shares will be traded in board lots of 100
+Shares each and the stock code of the Shares will be 2498.
+By order of the Board
+RoboSense Technology Co., Ltd
+Dr. Qiu Chunxin
+Chairman of the Board, Executive Director
+and Chief Executive Officer
+Hong Kong, Thursday, January 4, 2024
+As at the date of this announcement, the Executive Directors are Dr. Qiu Chunxin, Mr. Liu Letian and Mr. Qiu Chunchao;
+the Non-executive Director is Dr. Zhu Xiaorui and the proposed Independent non-executive Directors are Mr. Feng Jianfeng,
+Dr. Lu Cewu and Mr. Ng Yuk Keung.
diff --git a/data/extracted_text/02499/allotment_results_summary_2023-11-09_2023110900054.txt b/data/extracted_text/02499/allotment_results_summary_2023-11-09_2023110900054.txt
new file mode 100644
index 0000000..65ef2db
--- /dev/null
+++ b/data/extracted_text/02499/allotment_results_summary_2023-11-09_2023110900054.txt
@@ -0,0 +1,955 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+• The Offer Price is HK$14.28 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and Accounting and
+Financial Reporting Council transaction levy of 0.00015%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$14.28 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of underwriting fees and
+commissions and estimated expenses payable by the Company in connection with the
+Global Offering, are estimated to be approximately HK$116.3 million. The Company
+intends to use the net proceeds from the Global Offering in the manner as set out in the
+section headed “Net Proceeds from the Global Offering ” in this announcement.
+• As no over-allocation of International Offer Shares has been made, the Over-allotment
+Option has not been exercised and will not be exercised, and no additional proceeds are
+expected to be received by the Company in this connection.
+Applications and Indications of Interest Received
+Hong Kong Public Offering
+• The Hong Kong Offer Shares initially available under the Hong Kong Public Offering
+have been slightly over-subscribed. A total of 4,939 valid applications have been received
+pursuant to the Hong Kong Public Offering through the HK eIPO White Form service
+and through the CCASS EIPO service for a total of 9,464,600 Hong Kong Offer Shares,
+representing approximately 7.80 times of the total number of 1,213,600 H Shares initially
+available for subscription under the Hong Kong Public Offering.
+• As the Hong Kong Public Offering has been over-subscribed by less than 15 times of the
+total number of Offer Shares initially available under the Hong Kong Public Offering, the
+reallocation procedure as disclosed in the section headed “Structure of the Global Offering
+– The Hong Kong Public Offering – Reallocation and Clawback ” in the Prospectus has
+not been applied. The final number of Offer Shares under the Hong Kong Public Offering
+is 1,213,600 H Shares, representing 10% of the total number of Offer Shares initially
+available under the Global Offering. The total number of successful applicants under the
+Hong Kong Public Offering is 2,199, among which 1,786 H Shareholders were allocated
+with one board lot of the H Shares, totaling 357,200 H Shares, representing approximately
+29.43% of total Offer Shares under the Hong Kong Public Offering.
+
+
+--- page 2 ---
+4
+International Offering
+• The H Shares initially offered under the International Offering have been slightly
+over-subscribed, representing approximately 1.37 times of the total number of Offer Shares
+initially available under the International Offering. The final number of Offer Shares under
+the International Offering is 10,922,400 H Shares, representing 90% of the total number of
+H Shares initially available under the Global Offering.
+• The total number of placees under the International Offering is 122. A total number of 116
+placees have been allotted five board lots of H Shares or less, representing approximately
+95.08% of the total number of placees under the International Offering. These placees
+have been allotted 29,800 H Shares in total, representing approximately 0.27% of the Offer
+Shares available under the International Offering and 0.25% of the Offer Shares under
+the Global Offering. A total number of 83 placees have been allotted one board lot of H
+Shares, totaling 16,600 H Shares, representing approximately 0.15% of the Offer Shares
+available under the International Offering.
+Over-allotment Option
+• The Sole Overall Coordinator confirms that there has been no over-allocation of the H
+Shares under the International Offering, and therefore, the Over-allotment Option will not
+be exercised. In view of the fact that there has been no over-allocation in the International
+Offering, there has been no delayed delivery arrangement with any investor under the
+International Offering and no stabilizing action as described in the Prospectus will take
+place during the stabilization period.
+Cornerstone Investor
+• Based on the Offer Price of HK$14.28 per Offer Share (exclusive of brokerage of
+1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and
+Accounting and Financial Reporting Council transaction levy of 0.00015%), pursuant to the
+Cornerstone Investment Agreement, the Company ’s Cornerstone Investor has subscribed
+for a total of 7,633,200 H Shares, representing (i) approximately 62.90% of the number of
+Offer Shares pursuant to the Global Offering; (ii) approximately 2.19% of the issued share
+capital of the Company immediately following the completion of the Global Offering; and
+(iii) approximately 3.69% of the H Shares in issue immediately following the completion
+of the Global Offering. Please refer to the section headed “Cornerstone Placing ” in the
+Prospectus for further details.
+
+
+--- page 3 ---
+5
+Confirmations Regarding Public Shareholders in the Hong Kong Public Offering and
+Placees in the International Offering
+• To the best knowledge, information and belief of our Directors and Supervisors, no
+Offer Shares placed under the Global Offering have been placed with applicants and
+their respective ultimate beneficial owners who are core connected persons (as defined
+in the Listing Rules) of the Company, Directors, Supervisors, or to any connected clients
+(as set out in paragraph 5(1) of the Placing Guidelines under Appendix 6 to the Listing
+Rules (the “Placing Guidelines ”)) or persons as set out in paragraph 5(2) of the Placing
+Guidelines, whether in their own names or through nominees. The International Offering
+is in compliance with the Placing Guidelines. None of the Sole Sponsor, the Sole Overall
+Coordinator, the Sole Global Coordinator, the Joint Bookrunners, the Joint Lead Managers,
+the Underwriters, the CMIs and their respective affiliated companies and connected clients
+of the lead broker or of any distributors (as defined in the Placing Guidelines) has taken up
+any Offer Shares for its own benefit under the Global Offering.
+• Our Directors and Supervisors confirm that, to the best of their knowledge, information
+and belief, (i) none of the Offer Shares subscribed by public Shareholders in the Hong
+Kong Public Offering and placees in the International Offering has been financed directly
+or indirectly by our Company, our Directors, Supervisors, chief executive, Controlling
+Shareholders, substantial Shareholders or existing Shareholders of our Company or any
+of their subsidiaries or their respective close associates (the “Relevant Parties ”); (ii)
+no rebate has been, directly or indirectly, provided by the Relevant Parties or syndicate
+members or any other brokers involved in the Global Offering to any public Shareholders
+in the Hong Kong Public Offering or placees in the International Offering; (iii) none of
+the public Shareholders in the Hong Kong Public Offering and placees in the International
+Offering who has subscribed for the Offer Shares is accustomed to taking instructions from
+the Relevant Parties in relation to the acquisition, disposal, voting or other disposition of
+the Offer Shares registered in his/her/its name or otherwise held by him/her/it; (iv) the
+consideration payable by the public Shareholders in the Hong Kong Public Offering and
+placees in the International Offering for each Offer Share subscribed for or purchased by
+them is the same as the final Offer Price as determined by the Company, in addition to
+brokerage of 1.0%, SFC transaction levy of 0.0027%, Accounting and Financial Reporting
+Council transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%; and
+(v) there is no side agreement or arrangement between the Relevant Parties or syndicate
+members or any other brokers involved in the Global Offering, on one hand, and the public
+Shareholders or the placees who has subscribed for the Offer Shares, on the other hand.
+• Our Directors and Supervisors further confirm that, to the best of their knowledge and
+information, all placees under the International Offering and their ultimate beneficial
+owners are not and are independent of any of (a) the core connected persons (as defined in
+the Listing Rules) of the Company, (b) our Directors, supervisors, or existing Shareholders
+or any of the Company ’s subsidiaries, or (c) the close associates (as defined in the Listing
+Rules) of (a) and/or (b) above whether in their own name or through nominees.
+• Our Directors and Supervisors confirm that none of the placees under the International
+Offering will be placed more than 10% of the enlarged issued share capital of the Company
+immediately following the completion of the Global Offering. Accordingly, our Directors
+and Supervisors confirm that none of the placees will become a substantial Shareholder
+(within the meaning of the Listing Rules) after the International Offering, and there will
+not be any new substantial Shareholder immediately following the completion of the Global
+Offering.
+
+
+--- page 4 ---
+6
+Lock-up Obligations
+• The Company, the Controlling Shareholders, all the other existing Shareholders and the
+Cornerstone Investor are subject to certain lock-up obligations as set out in the section
+headed “Lock-up Obligations ” in this announcement.
+Shareholding Concentration Analysis
+• A shareholding concentration analysis based on the allotment results under the Global
+Offering is set out in the section headed “Shareholding Concentration Analysis ” of this
+announcement for further details.
+Results of Allocations
+• The Final Offer Price, results of applications in the Hong Kong Public Offering, the level
+of indications of interests in the International Offering, the level of applications in the
+Hong Kong Public Offering and the basis of allocation of the Hong Kong Offer Shares
+will be published on Thursday, November 9, 2023 on the websites of the Company at
+www.fls123.com and the Stock Exchange at www.hkexnews.hk .
+• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
+Offering successfully applied for through the HK eIPO White Form service or through the
+CCASS EIPO service, including the Hong Kong identity card numbers, passport numbers,
+Hong Kong business registration numbers or certificate of incorporation numbers of
+successful applicants (where applicable) will be made available at the times and dates and
+in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.fls123.com
+and the Stock Exchange ’s website at www.hkexnews.hk by no later than 8:00 a.m.
+on Thursday, November 9, 2023. Please note that the list of identification document
+numbers in this announcement may not be a complete list of successful applicants
+since only successful applicants whose identification document numbers are provided
+to HKSCC by CCASS Participants or via the HK eIPO White Form service are
+disclosed. Applicants with beneficial names only but not identification document
+numbers are not disclosed due to personal privacy issue as elaborated below.
+Applicants who applied for H Shares through their brokers or nominees can consult
+their brokers or nominees to enquire about their application result;
+• from “IPO Results ” function in the IPO App or the designated results of allocations
+website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a
+“search by ID ” function on a 24-hour basis from 8:00 a.m. on Thursday, November 9,
+2023 to 12:00 midnight on Wednesday, November 15, 2023; or
+• from the results allocation telephone enquiry line by calling +852 3691 8488 between
+9:00 a.m. and 6:00 p.m. from Thursday, November 9, 2023 to Tuesday, November 14,
+2023 (excluding Saturday, Sunday and public holiday in Hong Kong).
+
+
+--- page 5 ---
+7
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by HK
+eIPO White Form ” refers to Hong Kong identity card numbers/passport numbers/Hong
+Kong business registration numbers/certificate of incorporation numbers/beneficial owner
+identification codes (if such applications are made by nominees as agent for the benefit of
+another person) whereas those displayed in the section headed “Results of Applications
+Made by Giving Electronic Application Instructions to HKSCC via CCASS ” are provided
+by CCASS participants via CCASS. Therefore, the identification document numbers shown
+in the two sections are different in nature.
+• Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the section headed “Results of Applications Made
+by Giving Electronic Application Instructions to HKSCC via CCASS ” are redacted and
+not all details of applications are disclosed in this announcement.
+Despatch/Collection of H Share Certificates/e-Auto Refund Payment Instructions/Refund
+Cheques
+• Applicants who applied for 500,000 or more Hong Kong Offer Shares through the HK
+eIPO White Form service and who have been successfully or partially successfully
+allocated Hong Kong Offer Shares and are eligible to collect H Share certificates in person
+may collect H Share certificates from the H Share Registrar, Tricor Investor Services
+Limited at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong from 9:00 a.m.
+to 1:00 p.m. on Thursday, November 9, 2023, or any other place or date as notified by the
+Company.
+• Applicants being individuals who are eligible for personal collection cannot authorize any
+other person to make collection on their behalf. Corporate applicants which are eligible
+for personal collection must attend by their authorized representatives bearing letters
+of authorization from their corporations stamped with the corporations ’ chops. Both
+individuals and authorized representatives (if applicable) must produce, at the time of
+collection, evidence of identity acceptable to Tricor Investor Services Limited.
+• H Share certificates for Hong Kong Offer Shares allotted to applicants who applied for
+less than 500,000 Hong Kong Offer Shares through the HK eIPO White Form service
+are expected to be despatched to those entitled to the addresses specified in the relevant
+application instructions by ordinary post at their own risk on or before Thursday, November
+9, 2023.
+• H Share certificates for Hong Kong Offer Shares allocated to applicants who applied
+through the HK eIPO White Form service which are either not available for personal
+collection or which are available but are not collected in person by 1:00 p.m. on Thursday,
+November 9, 2023 are expected to be despatched by ordinary post to the addresses
+specified in the relevant applications at their own risk on or before Thursday, November 9,
+2023.
+
+
+--- page 6 ---
+8
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their H Share certificates issued in the name
+of HKSCC Nominees Limited and deposited directly into CCASS for credit to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participants who gave electronic application instructions on their behalf on Thursday,
+November 9, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them and the amount of refund monies payable to them with that CCASS Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
+before 5:00 p.m. on Thursday, November 9, 2023 or such other date as shall be determined
+by HKSCC or HKSCC Nominees. Applicants who applied as a CCASS Investor Participant
+by giving electronic application instructions to HKSCC via CCASS may also check
+the results of their applications and the amount of refund monies payable to them via the
+CCASS Phone System and the CCASS Internet System (under the procedures contained
+in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time to time).
+Immediately after the crediting of the Hong Kong Offer Shares to the CCASS Investor
+Participants stock accounts and the crediting of the refund monies to the CCASS Investor
+Participants bank accounts, HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the number of Hong Kong Offer Shares
+credited to their stock accounts and the refund amount (if any) credited to their respective
+designated bank accounts.
+• Applicants who applied through the HK eIPO White Form service and paid the
+application monies from a single bank account will have refund monies (if any) despatched
+to their application payment account in the form of e-Auto Refund payment instructions
+on or before Thursday, November 9, 2023. Applicants who applied through the HK eIPO
+White Form service and paid the application monies from multiple bank accounts will
+have refund monies (if any) despatched to the addresses specified on their HK eIPO White
+Form applications in the form of refund cheque(s) in favour of the applicant (or, in the
+case of joint applications, the first-named applicant), by ordinary post at their own risk on
+or before Thursday, November 9, 2023.
+• Refund monies (if any) for applicants who have applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to their designated bank
+accounts or the designated bank accounts of their brokers or custodians on Thursday,
+November 9, 2023.
+• H Share certificates will only become valid evidence of title at 8:00 a.m. on Friday,
+November 10, 2023 provided that the Global Offering has become unconditional in all
+respects at or before that time 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.
+• The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+
+
+--- page 7 ---
+9
+Public Float
+• Immediately following the completion of the Global Offering, the number of H Shares
+in the public hands represents approximately 27.43% of the total issued share capital
+of the Company, which satisfies the minimum percentage of at least 25% prescribed in
+Rule 8.08(1) of the Listing Rules. The Directors confirm that, immediately following the
+completion of the Global Offering, (i) there will not be any new substantial Shareholder
+within the meaning of the Listing Rules; (ii) the three largest public Shareholders 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 (iii) 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
+• Assuming that the Global Offering becomes unconditional in all respects at or before
+8:00 a.m. on Friday, November 10, 2023 (Hong Kong time), dealings in the H Shares on
+the Main Board of the Stock Exchange are expected to commence at 9:00 a.m. on Friday,
+November 10, 2023 (Hong Kong time). The H Shares will be traded in board lots of 200 H
+Shares each. The stock code of the H Shares is 2499.
+In view of the high concentration of shareholding in a small number of Shareholders,
+Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of H Shares traded, and should exercise
+extreme caution when dealing in the H Shares.
+OFFER PRICE
+The Offer Price is HK$14.28 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction
+levy of 0.0027%, Stock Exchange trading fee of 0.00565% and Accounting and Financial
+Reporting Council transaction levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$14.28 per Offer Share, the net proceeds from the Global Offering
+to be received by the Company, after deduction of underwriting fees and commissions and
+estimated expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$116.3 million.
+As no over-allocation of International Offer Shares has been made, the Over-allotment Option
+has not been exercised and will not be exercised, and no additional proceeds are expected to be
+received by the Company in this connection.
+
+
+--- page 8 ---
+10
+The Company currently intends to apply such net proceeds as follows:
+• 45.0%, or approximately HK$52.3 million, will be used to enhance our service capabilities,
+improve customer coverage, and expand categories of intralogistics equipment. Specifically,
+5.0% will be used to strengthen our marketing capabilities, 15.0% will be used to expand our
+service outlets, further enhancing our service efficiency and customer outreach, and 25.0%
+will be used to expand the scale and categories of our intralogistics equipment fleet;
+• 20.0%, or approximately HK$23.3 million, will be used to expand and upgrade our supply
+chain infrastructure. Specifically, 10.0% will be used to expand and upgrade our existing
+supply chain facilities, specifically for our main supply chain bases, equipment part
+warehouses at our headquarter and automated warehouses in local bases, and 10.0% will be
+used to build new supply chain bases in strategic locations across China to better synergize
+our resources;
+• 15.0%, or approximately HK$17.4 million, will be used to strengthen our technology
+capabilities and infrastructure. Specifically, 10.0% will be used to enhance our core
+technology capabilities, and 5.0% will be used to enhance our overall digital technology
+capabilities;
+• 10.0%, or approximately HK$11.6 million, will be used to conduct strategic mergers and
+acquisitions that align with our regional coverage, industry focus, and business priorities; and
+• 10.0%, or approximately HK$11.6 million, will be used for our general working capital and
+general corporate purposes.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
+the Prospectus.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+HONG KONG PUBLIC OFFERING
+The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have been
+slightly over-subscribed. At the close of the application lists at 12:00 noon on Friday, November
+3, 2023, a total of 4,939 valid applications have been received pursuant to the Hong Kong Public
+Offering through the HK eIPO White Form service and through the CCASS EIPO service for
+a total of 9,464,600 Hong Kong Offer Shares, representing approximately 7.80 times of the total
+number of 1,213,600 H Shares initially available for subscription under the Hong Kong Public
+Offering, among which:
+• 4,934 valid applications in respect of a total of 7,614,600 Hong Kong Offer Shares were for
+the Hong Kong Public Offering with an aggregate subscription amount based on the Offer
+Price of HK$16.18 per Offer Share (excluding brokerage of 1%, SFC transaction levy of
+0.0027%, Stock Exchange trading fee of 0.00565% and Accounting and Financial Reporting
+Council transaction levy of 0.00015%) of HK$5 million or less, representing approximately
+12.55 times of the 606,800 Hong Kong Offer Shares initially comprised in Pool A; and
+
+
+--- page 9 ---
+11
+• 5 valid applications in respect of a total of 1,850,000 Hong Kong Offer Shares were for the
+Hong Kong Public Offering with an aggregate subscription amount based on the Offer Price
+of HK$16.18 per Offer Share (excluding brokerage of 1%, SFC transaction levy of 0.0027%,
+Stock Exchange trading fee of 0.00565% and Accounting and Financial Reporting Council
+transaction levy of 0.00015%) of more than HK$5 million, representing approximately 3.05
+times of the 606,800 Hong Kong Offer Shares initially comprised in Pool B.
+No application was rejected due to invalid application. No multiple or suspected multiple
+application was identified and rejected. No application was rejected due to dishonored payments.
+No application for more than 606,800 Hong Kong Offer Shares (being 50% of the Hong Kong
+Offer Shares initially available under the Hong Kong Public Offering) was identified.
+As the Hong Kong Public Offering has been over-subscribed by less than 15 times of the total
+number of Offer Shares initially available under the Hong Kong Public Offering, the reallocation
+procedure as disclosed in the section headed “Structure of the Global Offering – The Hong Kong
+Public Offering – Reallocation and Clawback ” in the Prospectus has not been applied. The final
+number of Offer Shares under the Hong Kong Public Offering is 1,213,600 H Shares (with 606,800
+H Shares in Pool A and 606,800 H Shares in Pool B), representing 10% of the total number
+of Offer Shares initially available under the Global Offering. The total number of successful
+applicants under the Hong Kong Public Offering is 2,199, among which 1,786 H Shareholders
+were allocated with one board lot of the H Shares, totaling 357,200 H Shares, representing
+approximately 29.43% of total Offer Shares under the Hong Kong Public Offering.
+The H Shares offered in the Hong Kong Public Offering were conditionally allocated on the basis
+set out in the section headed “Basis of Allocation under the Hong Kong Public Offering ” below.
+INTERNATIONAL OFFERING
+The H Shares initially offered under the International Offering have been slightly over-subscribed,
+representing approximately 1.37 times of the total number of Offer Shares initially available under
+the International Offering. The final number of Offer Shares under the International Offering is
+10,922,400 H Shares, representing 90% of the total number of H Shares initially available under
+the Global Offering.
+The total number of placees under the International Offering is 122. A total number of 116 placees
+have been allotted five board lots of H Shares or less, representing approximately 95.08% of the
+total number of placees under the International Offering. These placees have been allotted 29,800
+H Shares in total, representing approximately 0.27% of the Offer Shares available under the
+International Offering and 0.25% of the Offer Shares under the Global Offering. A total number
+of 83 placees have been allotted one board lot of H Shares, totaling 16,600 H Shares, representing
+approximately 0.15% of the Offer Shares available under the International Offering.
+
+
+--- page 10 ---
+12
+Over-allotment Option
+In connection with the Global Offering, the Company has granted to the International Underwriters,
+exercisable by the Sole Overall Coordinator (on behalf of the International Underwriters), the
+Over-allotment Option, which will be exercisable from the Listing Date (which is currently
+expected to be Friday, November 10, 2023) until 30 days after the last day for the lodging of
+applications under the Hong Kong Public Offering (i.e. Sunday, December 3, 2023) to require the
+Company to issue up to an aggregate of 1,820,400 H Shares, representing no more than 15% of the
+number of Offer Shares initially available under the Global Offering, at the Offer Price, to cover
+over-allocations in the International Offering, if any.
+The Sole Overall Coordinator confirms that there has been no over-allocation of the H Shares
+under the International Offering and therefore, the Over-allotment Option will not be exercised.
+In view of the fact that there has been no over-allocation in the International Offering, there has
+been no delayed delivery arrangement with any investor under the International Offering and no
+stabilizing action as described in the Prospectus will take place during the stabilization period.
+Cornerstone Investor
+Based on the Offer Price of HK$14.28 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and Accounting and
+Financial Reporting Council transaction levy of 0.00015%), and pursuant to the Cornerstone
+Investment Agreement as disclosed in the section headed “Cornerstone Placing ” in the Prospectus,
+the number of Offer Shares subscribed for by the Cornerstone Investor has now been determined
+and is set out below:
+Cornerstone Investor
+Investment
+Amount (1)
+Number of
+Offer
+Shares (2)
+Approximate
+% of total
+number of
+Offer Shares
+Approximate
+% of H Shares
+in issue
+immediately
+following the
+completion of
+Global Offering
+Approximate
+% of total
+Shares in issue
+immediately
+following the
+completion of
+Global Offering
+(RMB’000)
+LIUGONG MACHINERY HONGKONG
+ CO., LIMITED (ಥ
+ ʮ̡ ) (“Liugong Machinery ”) 100,000 7,633,200 62.90% 3.69% 2.19%
+Notes:
+(1) For illustrative purposes only, all investment amounts are exclusive of brokerage, the SFC transaction levy, the
+Stock Exchange trading fee and Accounting and Financial Reporting Council transaction transaction levy.
+(2) Calculation based on the exchange rate of RMB0.9174 to HK$1.00 as set out in the section headed “Information
+about this Prospectus and the Global Offering ” in the Prospectus, and rounded down to the nearest whole board
+lot of 200 Offer Shares.
+There will be no delayed delivery or deferred settlement of Offer Shares to be subscribed by the
+Cornerstone Investor pursuant to the Cornerstone Investment Agreement and the payment for the
+Offer Shares to be subscribed by the Cornerstone Investor will be settled on or before the Listing.
+
+
+--- page 11 ---
+13
+To the best knowledge of our Company, the Cornerstone Investor (i) is an Independent Third Party
+and is not our connected person (as defined in the Listing Rules); (ii) the Cornerstone Investor
+is not accustomed to taking instructions from our Company, the Directors, the Supervisors, chief
+executive, our Controlling Shareholders, substantial shareholders, existing Shareholders or any
+of their respective subsidiaries or their respective close associates in relation to the acquisition,
+disposal, voting or other disposition of the Offer Shares; (iii) none of the subscription of the
+relevant Offer Shares by the Cornerstone Investor is financed by our Company, the Directors,
+chief executive, our Controlling Shareholders, substantial shareholders, existing Shareholders or
+any of their respective subsidiaries or their respective close associates; and (iv) the Cornerstone
+Investor will be utilizing its proprietary funding or the proprietary funding of the funds under its
+management, as appropriate, as its source of funding for the subscription of the Offer Shares. The
+Cornerstone Investor has confirmed that all necessary approvals have been obtained with respect
+to the Cornerstone Placing and that no specific approval from its shareholders is required for the
+cornerstone investment.
+Other than a guaranteed allocation of the relevant Offer Shares at the final Offer Price, the
+Cornerstone Investor does not have any preferential rights in the Cornerstone Investment
+Agreement compared with other public Shareholders.
+As confirmed by the Cornerstone Investor, its subscription under the Cornerstone Placing would be
+financed by its own internal resources. There are no side arrangements between our Company and
+the Cornerstone Investor or any benefit, direct or indirect, conferred on the Cornerstone Investor
+by virtue of or in relation to the Cornerstone Placing.
+The Cornerstone Investor has agreed that it will not, whether directly or indirectly, at any time
+during the period of six months from and including the Listing Date (the “Lock-up Period ”),
+dispose of any of the Offer Shares it has purchased pursuant to the Cornerstone Investment
+Agreement, save for certain limited circumstances, such as transfers to any of its wholly-owned
+subsidiaries who will be bound by the same obligations of the Cornerstone Investor, including the
+Lock-up Period restriction.
+Please refer to the section headed “Cornerstone Placing ” in the Prospectus for further details in
+relation to the Cornerstone Placing.
+
+
+--- page 12 ---
+14
+CONFIRMATIONS REGARDING PUBLIC SHAREHOLDERS IN THE HONG KONG
+PUBLIC OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
+To the best knowledge, information and belief of our Directors and Supervisors, no Offer Shares
+placed under the Global Offering have been placed with applicants and their respective ultimate
+beneficial owners who are core connected persons (as defined in the Listing Rules) of the
+Company, Directors, Supervisors, or to any connected clients (as set out in paragraph 5(1) of the
+Placing Guidelines under Appendix 6 to the Listing Rules (the “Placing Guidelines ”)) or persons
+as set out in paragraph 5(2) of the Placing Guidelines, whether in their own names or through
+nominees. The International Offering is in compliance with the Placing Guidelines. None of the
+Sole Sponsor, the Sole Overall Coordinator, the Sole Global Coordinator, the Joint Bookrunners,
+the Joint Lead Managers, the Underwriters, the CMIs and their respective affiliated companies and
+connected clients of the lead broker or of any distributors (as defined in the Placing Guidelines)
+has taken up any Offer Shares for its own benefit under the Global Offering.
+Our Directors and Supervisors confirm that, to the best of their knowledge, information and belief,
+(i) none of the Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering
+and placees in the International Offering has been financed directly or indirectly by our Company,
+our Directors, Supervisors, chief executive, Controlling Shareholders, substantial Shareholders
+or existing Shareholders of our Company or any of their subsidiaries or their respective close
+associates (the “Relevant Parties ”); (ii) no rebate has been, directly or indirectly, provided by the
+Relevant Parties or syndicate members or any other brokers involved in the Global Offering to any
+public Shareholders in the Hong Kong Public Offering or placees in the International Offering; (iii)
+none of the public Shareholders in the Hong Kong Public Offering and placees in the International
+Offering who has subscribed for the Offer Shares is accustomed to taking instructions from the
+Relevant Parties in relation to the acquisition, disposal, voting or other disposition of the Offer
+Shares registered in his/her/its name or otherwise held by him/her/it; (iv) the consideration payable
+by the public Shareholders in the Hong Kong Public Offering and placees in the International
+Offering for each Offer Share subscribed for or purchased by them is the same as the final Offer
+Price as determined by the Company, in addition to brokerage of 1.0%, SFC transaction levy of
+0.0027%, Accounting and Financial Reporting Council transaction levy of 0.00015% and Stock
+Exchange trading fee of 0.00565%; and (v) there is no side agreement or arrangement between the
+Relevant Parties or syndicate members or any other brokers involved in the Global Offering, on
+one hand, and the public Shareholders or the placees who has subscribed for the Offer Shares, on
+the other hand.
+Our Directors and Supervisors further confirm that, to the best of their knowledge and information,
+all placees under the International Offering and their ultimate beneficial owners are not and
+are independent of any of (a) the core connected persons (as defined in the Listing Rules) of
+the Company, (b) our Directors, supervisors, or existing Shareholders or any of the Company ’s
+subsidiaries, or (c) the close associates (as defined in the Listing Rules) of (a) and/or (b) above
+whether in their own name or through nominees.
+Our Directors and Supervisors confirm that none of the placees under the International Offering
+will be placed more than 10% of the enlarged issued share capital of the Company immediately
+following the completion of the Global Offering. Accordingly, our Directors and Supervisors
+confirm that none of the placees will become a substantial Shareholder (within the meaning of
+the Listing Rules) after the International Offering, and there will not be any new substantial
+Shareholder immediately following the completion of the Global Offering.
+
+
+--- page 13 ---
+15
+LOCK-UP OBLIGATIONS
+The Company, the Controlling Shareholders, all the other existing Shareholders and the
+Cornerstone Investor are subject to certain obligations in relation to the Shares (the “Lock-up
+Obligations ”). The major terms of the Lock-up Obligations are as follows:
+Name
+Number of
+Shares subject
+to the Lock-up
+Obligations
+upon Listing
+Percentage of
+shareholding
+in the total
+issued share
+capital of
+the Company
+following
+completion
+of the Global
+Offering
+subject to
+the Lock-up
+Obligations
+upon Listing
+Last day of the
+Lock-up Period
+The Company (subject to lock-up obligations
+pursuant to the Listing Rules, the Hong Kong
+Underwriting Agreement and the International
+Underwriting Agreement)
+N/A N/A May 10, 2024 (1)
+Controlling Shareholders (subject to lock-
+up obligations pursuant to the Listing Rules,
+the Hong Kong Underwriting Agreement, the
+International Underwriting Agreement and
+applicable PRC laws and regulations)
+Mr. Hou (4) 46,669,696
+H Shares
+88,162,484
+Unlisted Shares
+13.41%
+25.33%
+November 10,
+2024(2)(3)
+Mr. Hou Zebing (4) 46,669,696
+H Shares
+88,162,484
+Unlisted Shares
+13.41%
+25.33%
+November 10,
+2024(2)(3)
+
+
+--- page 14 ---
+16
+Name
+Number of
+Shares subject
+to the Lock-up
+Obligations
+upon Listing
+Percentage of
+shareholding
+in the total
+issued share
+capital of
+the Company
+following
+completion
+of the Global
+Offering
+subject to
+the Lock-up
+Obligations
+upon Listing
+Last day of the
+Lock-up Period
+Guangzhou Daze (4) 15,550,108
+H Shares
+15,550,108
+Unlisted Shares
+4.47%
+4.47%
+November 10,
+2024(2)(3)
+Sub-total 46,669,696
+H Shares
+88,162,484
+Unlisted Shares
+13.41%
+25.33%
+All other existing Shareholders (except for
+the Controlling Shareholders) (subject to lock-
+up obligations pursuant to their respective lock-
+up undertakings under applicable PRC laws and
+regulations)
+147,789,040
+H Shares
+53,265,596
+Unlisted Shares
+42.47%
+15.31%
+November 10,
+ 2024 (3)
+Cornerstone Investor (subject to lockup
+obligations pursuant to the Cornerstone
+Investment Agreement)
+Liugong Machinery
+7,633,200
+H Shares 2.19% May 10, 2024 (5)
+Total 202,091,936
+H Shares
+141,428,080
+Unlisted Shares
+58.07%
+40.64%
+
+
+--- page 15 ---
+17
+Notes:
+(1) The Company may not, among other matters, issue or agree to issue or publicly announce its intention to issue
+Shares or securities of the Company during the First Six-Month Period unless with the prior consent of the
+Sole Sponsor and the Sole Overall Coordinator, and unless in compliance with the Listing Rules. In the event
+the Company does so by virtue of, among other exceptions, the aforesaid exceptions, or during the Second
+Six-Month Period, the Company will take all reasonable steps to ensure compliance with applicable legal and
+regulatory requirements relating to the avoidance of creating a disorderly or false market in the Shares or other
+securities of the Company. For details of the lock-up arrangements of the Company, please refer to the sections
+headed “Underwriting – Underwriting Arrangements and Expenses – Hong Kong Public Offering – Undertakings
+to the Stock Exchange Pursuant to the Listing Rules - (A) Undertakings by our Company ” and “Underwriting
+– Underwriting Arrangements and Expenses – Hong Kong Public Offering – Undertakings to the Hong Kong
+Underwriters Pursuant to the Hong Kong Underwriting Agreement – Undertakings by our Company ” in the
+Prospectus.
+(2) Each of Mr. Hou, Mr. Hou Zebing and Guangzhou Daze is subject to lock-up requirements under the Listing
+Rules and pursuant to the Hong Kong Underwriting Agreement and the International Underwriting Agreement.
+Each of the Controlling Shareholders stated herein shall not (a) dispose of any of the relevant securities of
+the Company in the First Six-Month Period; and (b) dispose of any of the relevant securities of the Company
+in the Second Six-Month Period if immediately following such disposal the Controlling Shareholders would
+cease to be a group of controlling shareholders (as defined in the Listing Rules) of the Company. Please
+refer to the sections headed “Underwriting – Underwriting Arrangements and Expenses – Hong Kong Public
+Offering – Undertakings to the Stock Exchange Pursuant to the Listing Rules – (B) Undertakings by our
+Controlling Shareholders ” and “Underwriting – Underwriting Arrangements and Expenses – Hong Kong Public
+Offering – Undertakings to the Hong Kong Underwriters Pursuant to the Hong Kong Underwriting Agreement –
+Undertakings by our Controlling Shareholders ” in the Prospectus for further details.
+(3) In accordance with the PRC Company Law, the shares issued prior to any public offering of shares by a
+company cannot be transferred within one year from the date on which such publicly offered shares are listed
+and traded on the relevant stock exchange. As such, all existing Shareholders (including the Controlling
+Shareholders) are subject to lock-up restrictions within 12 months following the Listing Date.
+(4) Mr. Hou Zebing is the general partner of Guangzhou Daze. As such, Mr. Hou Zebing is deemed to be interested
+in the 31,100,216 Shares held by Guangzhou Daze under the SFO. Mr. Hou and Mr. Hou Zebing entered into
+an acting-in-concert agreement on May 18, 2020 with a supplemental agreement dated March 24, 2023 to
+acknowledge and confirm their acting-in-concert relationship in our Company, pursuant to which Mr. Hou and
+Mr. Hou Zebing have agreed to continue to act in concert and reach consensus on any matter considered at
+board meetings and general meetings of our Company.
+(5) The Cornerstone Investor may dispose of any of the Offer Shares subscribed in the Global Offering after the
+indicated date.
+(6) Any discrepancies in the table above between the amounts identified as total amounts and the sum of the
+amounts listed therein are due to rounding.
+
+
+--- page 16 ---
+18
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the section headed “Structure of the Global
+Offering – Conditions of the Global Offering ” in the Prospectus, 4,939 valid applications made
+by the public through the HK eIPO White Form service and the CCASS EIPO service will be
+conditionally allocated on the basis set out below:
+Pool A
+Number of
+H Shares
+applied for
+Number of
+valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of
+the total
+number of
+H Shares
+applied for
+200 2,580 516 out of 2,580 applicants to receive 200 H Shares 20.00%
+400 203 65 out of 203 applicants to receive 200 H Shares 16.01%
+600 891 416 out of 891 applicants to receive 200 H Shares 15.56%
+800 53 31 out of 53 applicants to receive 200 H Shares 14.62%
+1,000 100 68 out of 100 applicants to receive 200 H Shares 13.60%
+1,200 31 25 out of 31 applicants to receive 200 H Shares 13.44%
+1,400 15 13 out of 15 applicants to receive 200 H Shares 12.38%
+1,600 14 13 out of 14 applicants to receive 200 H Shares 11.61%
+1,800 26 200 H Shares 11.11%
+2,000 75 200 H Shares plus 4 out of 75 applicants to receive an
+ additional 200 H Shares
+10.53%
+3,000 650 200 H Shares plus 130 out of 650 applicants to receive
+ an additional 200 H Shares
+8.00%
+4,000 33 200 H Shares plus 14 out of 33 applicants to receive an
+ additional 200 H Shares
+7.12%
+5,000 13 200 H Shares plus 10 out of 13 applicants to receive an
+ additional 200 H Shares
+7.08%
+6,000 53 400 H Shares 6.67%
+7,000 11 400 H Shares plus 3 out of 11 applicants to receive an
+ additional 200 H Shares
+6.49%
+8,000 6 400 H Shares plus 3 out of 6 applicants to receive an
+ additional 200 H Shares
+6.25%
+9,000 7 400 H Shares plus 5 out of 7 applicants to receive an
+ additional 200 H Shares
+6.03%
+10,000 114 600 H Shares 6.00%
+20,000 33 1,000 H Shares 5.00%
+30,000 8 1,400 H Shares 4.67%
+40,000 5 1,600 H Shares 4.00%
+50,000 2 1,800 H Shares 3.60%
+
+
+--- page 17 ---
+19
+Number of
+H Shares
+applied for
+Number of
+valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of
+the total
+number of
+H Shares
+applied for
+60,000 3 2,000 H Shares 3.33%
+70,000 3 2,200 H Shares 3.14%
+90,000 1 2,400 H Shares 2.67%
+100,000 2 2,600 H Shares 2.60%
+140,000 1 3,400 H Shares 2.43%
+250,000 1 5,600 H Shares 2.24%
+Total 4,934 Total number of Pool A successful applicants: 2,194
+Pool B
+Number of
+H Shares
+applied for
+Number of
+valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of
+the total
+number of
+H Shares
+applied for
+350,000 4 115,400 H Shares 32.97%
+450,000 1 145,200 H Shares 32.27%
+Total 5 Total number of Pool B successful applicants: 5
+The final number of Offer Shares under the Hong Kong Public Offering is 1,213,600 H Shares,
+representing 10% of the total number of Offer Shares initially available under the Global Offering.
+RESULTS OF ALLOCATIONS
+The Final Offer Price, results of applications in the Hong Kong Public Offering, the level of
+indications of interests in the International Offering, the level of applications in the Hong Kong
+Public Offering and the basis of allocation of the Hong Kong Offer Shares will be published on
+Thursday, November 9, 2023 on the websites of the Company at www.fls123.com and the Stock
+Exchange at www.hkexnews.hk .
+
+
+--- page 18 ---
+20
+The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the HK eIPO White Form service or through the CCASS EIPO
+service, including the Hong Kong identity card numbers, passport numbers, Hong Kong business
+registration numbers or certificate of incorporation numbers of successful applicants (where
+applicable) will be made available at the times and dates and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.fls123.com and the
+Stock Exchange ’s website at www.hkexnews.hk by no later than 8:00 a.m. on Thursday,
+November 9, 2023. Please note that the list of identification document numbers in this
+announcement may not be a complete list of successful applicants since only successful
+applicants whose identification document numbers are provided to HKSCC by CCASS
+Participants or via the HK eIPO White Form service are disclosed. Applicants with
+beneficial names only but not identification document numbers are not disclosed due to
+personal privacy issue as elaborated below. Applicants who applied for H Shares through
+their brokers or nominees can consult their brokers or nominees to enquire about their
+application result;
+• from “IPO Results ” function in the IPO App or the designated results of allocations
+website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search by
+ID” function on a 24-hour basis from 8:00 a.m. on Thursday, November 9, 2023 to 12:00
+midnight on Wednesday, November 15, 2023; or
+• from the results allocation telephone enquiry line by calling +852 3691 8488 between 9:00
+a.m. and 6:00 p.m. from Thursday, November 9, 2023 to Tuesday, November 14, 2023
+(excluding Saturday, Sunday and public holiday in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White Form ”
+refers to Hong Kong identity card numbers/passport numbers/Hong Kong business registration
+numbers/certificate of incorporation numbers/beneficial owner identification codes (if such
+applications are made by nominees as agent for the benefit of another person) whereas those
+displayed in the section headed “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS ” are provided by CCASS participants via CCASS. Therefore,
+the identification document numbers shown in the two sections are different in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the section headed “Results of Applications Made by Giving
+Electronic Application Instructions to HKSCC via CCASS ” are redacted and not all details of
+applications are disclosed in this announcement.
+
+
+--- page 19 ---
+21
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the Global Offering is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee Subscription
+Number of
+H Shares
+held upon
+Listing
+Number of
+Shares
+held upon
+Listing
+Subscription
+as % of
+International
+Offer
+Shares
+Subscription
+as % of
+total Offer
+Shares
+Number of
+H Shares
+as % of total
+H Shares
+Number of
+Shares as
+% of total
+Shares upon
+Listing
+Top 1 7,633,200 7,633,200 7,633,200 69.89% 62.90% 3.69% 2.19%
+Top 5 10,874,000 10,874,000 10,874,000 99.56% 89.60% 5.26% 3.12%
+Top 10 10,894,200 10,894,200 10,894,200 99.74% 89.77% 5.27% 3.13%
+Top 20 10,898,200 10,898,200 10,898,200 99.78% 89.80% 5.28% 3.13%
+Top 25 10,900,200 10,900,200 10,900,200 99.80% 89.82% 5.28% 3.13%
+• Top 1, 5, 10, 20 and 25 of all the Shareholders upon Listing:
+Shareholder (1) Subscription
+Number of
+H Shares
+held upon
+Listing
+Number of
+Shares
+held upon
+Listing (2)
+Subscription
+as % of
+International
+Offer
+Shares
+Subscription
+as % of
+total Offer
+Shares
+Number of
+H Shares
+as % of total
+H Shares
+Number of
+Shares as %
+of total
+Shares upon
+Listing
+Top 1 – 46,669,696 134,832,180 – – 22.59% 38.74%
+Top 5 – 142,245,936 275,321,296 – – 68.85% 79.11%
+Top 10 7,633,200 173,042,440 310,526,428 69.89% 62.90% 83.76% 89.23%
+Top 20 9,043,200 199,589,336 341,017,416 82.79% 74.52% 96.61% 97.99%
+Top 25 10,308,000 204,766,736 346,194,816 94.37% 84.94% 99.12% 99.47%
+
+
+--- page 20 ---
+22
+• Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company (the “H
+Shareholders ”) upon Listing:
+H Shareholders
+Subscription
+of Hong Kong
+Offer Shares
+Subscription
+of
+International
+Offer Shares
+ Number of
+H Shares
+held
+upon Listing
+ Number of
+Shares held
+upon
+Listing (2)
+ Subscription
+as % of
+Hong Kong
+Offer Shares
+ Subscription
+as % of
+International
+Offer Shares
+ Subscription
+as % of total
+Offer Shares
+ Number of
+H Shares
+as % of total
+H Shares
+Number of
+Shares as
+% of total
+Shares upon
+Listing
+Top 1 – – 64,464,752 64,464,752 – – – 31.20% 18.52%
+Top 5 – 7,633,200 149,879,136 242,041,620 – 69.89% 62.90% 72.55% 69.55%
+Top 10 – 7,633,200 179,790,220 271,952,704 – 69.89% 62.90% 87.03% 78.14%
+Top 20 – 9,043,200 202,301,936 300,673,048 – 82.79% 74.52% 97.92% 86.39%
+Top 25 145,200 10,874,000 205,477,936 303,849,048 11.96% 99.56% 90.80% 99.46% 87.31%
+Notes:
+(1) Top Shareholders are determined with reference to the aggregate of (i) the Unlisted Shares as held by registered
+Shareholders upon Listing; and (ii) the H Shares subscribed pursuant to the Global Offering and the H shares
+converted from Unlisted Shares as held by registered Shareholders upon Listing.
+(2) The number of Shares is determined with reference to the aggregate of (i) the Unlisted Shares as held by
+registered Shareholders upon Listing; and (ii) the H Shares subscribed pursuant to the Global Offering and the
+H shares converted from Unlisted Shares as held by registered Shareholders upon Listing.
+In view of the high concentration of shareholding in a small number of Shareholders,
+Shareholders and prospective investors should be aware that the price of the H Shares could
+move substantially even with a small number of H Shares traded, and should exercise extreme
+caution when dealing in the H Shares.
diff --git a/data/extracted_text/02501/allotment_results_summary_2023-10-10_2023101000018.txt b/data/extracted_text/02501/allotment_results_summary_2023-10-10_2023101000018.txt
new file mode 100644
index 0000000..6380cc6
--- /dev/null
+++ b/data/extracted_text/02501/allotment_results_summary_2023-10-10_2023101000018.txt
@@ -0,0 +1,700 @@
+--- page 1 ---
+– 3 –
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+• The Offer Price has been determined at HK$1.18 per Offer Share (exclusive of
+brokerage of 1%, SFC transaction levy of 0.0027%, AFRC transaction levy of
+0.00015% and Stock Exchange trading fee of 0.00565%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$1.18 per Offer Share, the net proceeds from the
+Global Offering to be received by the Company, after deducting the underwriting
+commissions and other estimated expenses payable by the Company in connection
+with the Global Offering, are estimated to be approximately HK$90.9 million. The
+Company intends to use such net proceeds in the manner as set out in the section
+headed “Net Proceeds from the Global Offering” in this announcement.
+Applications and Indications of Interest Received under the Hong Kong Public Offer
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offer
+have been slightly over-subscribed. A total of 1,511 valid applications have been
+received pursuant to the Hong Kong Public Offer (being applications made through
+the HK eIPO White Form service and the CCASS EIPO service) for a total of
+30,856,000 Hong Kong Offer Shares, representing approximately 2.46 times of
+the total number of 12,500,000 Hong Kong Offer Shares initially available for
+subscription under the Hong Kong Public Offer.
+• The reallocation procedures as described in the section headed “Structure and
+Conditions of the Global Offering — Hong Kong Public Offer — Reallocation” in
+the Prospectus have not been applied. The final number of Offer Shares under the
+Hong Kong Public Offer remains to be 12,500,000 Offer Shares, representing 10%
+of the total number of Offer Shares initially available under the Global Offering,
+which have been allocated to 1,511 successful applicants under the Hong Kong
+Public Offer.
+
+
+--- page 2 ---
+– 4 –
+International Placing
+• The International Placing Shares initially offered under the International Placing
+have been slightly over-subscribed, representing approximately 1.16 times the
+number of International Placing Shares initially available under the International
+Placing. The reallocation procedures as described in the section headed “Structure
+and Conditions of the Global Offering — Hong Kong Public Offer — Reallocation”
+in the Prospectus have not been applied. The final number of International Placing
+Shares under the International Placing remains to be 112,500,000 Offer Shares,
+representing 90% of the total number of Offer Shares initially available under the
+Global Offering.
+• No over-allocation of Offer Shares has been made and there are a total of 102
+placees under the International Placing, among which 45 placees have been allotted
+five or fewer board lots of Offer Shares, representing approximately 44.1% of the
+102 placees under the International Placing and 44 placees have been allotted one
+board lot of Offer Shares, representing approximately 43.1% of the 102 placees
+under the International Placing.
+• The International Placing has been conducted in compliance with the Placing
+Guidelines for Equity Securities in Appendix 6 to the Listing Rules (the “Placing
+Guidelines”). None of the Sole Sponsor, the Sole Overall Coordinator, the
+Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the
+Underwriters, the Capital Market Intermediaries and their respective affiliated
+companies and connected clients of the lead broker or of any distributors (as defined
+in the Placing Guidelines) has taken up any Offer Shares for its own benefit under
+the Global Offering.
+• To the best knowledge of the Company, (i) none of the Offer Shares subscribed
+for by public Shareholders in the Hong Kong Public Offer and placees in the
+International Placing has been financed directly, or indirectly by the Company,
+the Directors, the chief executive of the Company or any of its subsidiaries, the
+Controlling Shareholders, substantial shareholders (as defined in the Listing Rules)
+of the Company, existing Shareholders, or any of their respective close associates;
+(ii) none of the public Shareholders in the Hong Kong Public Offer and placees in
+the International Placing who has subscribed for the Offer Shares is accustomed
+to taking instructions from the Company, the Directors, the chief executive of
+the Company or any of its subsidiaries, the Controlling Shareholders, substantial
+shareholders (as defined in the Listing Rules) of the Company, existing Shareholders,
+or any of their respective close associates in relation to the acquisition, disposal,
+voting or other disposition of the Shares registered in their name or otherwise held
+by them; (iii) no rebate has been, directly or indirectly, provided by the Company,
+
+
+--- page 3 ---
+– 5 –
+the Directors, the chief executive of the Company or any of its subsidiaries, the
+Controlling Shareholders, the substantial shareholders (as defined in the Listing
+Rules) of the Company, the existing Shareholders, or any of their respective close
+associates, or syndicate members or any brokers or underwriters to any public
+Shareholders in the Hong Kong Public Offer or placees in the International Placing;
+(iv) the consideration payable by the public Shareholders in the Hong Kong Public
+Offer and placees in the International Placing for each Offer Share subscribed for
+or purchased by them is the same as the final Offer Price as determined by the
+Company, in additional to brokerage of 1.0%, SFC transaction levy of 0.0027%,
+AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%;
+and (v) there is no side agreement or arrangement between the Company, any of
+the Directors, the chief executive of the Company or any of its subsidiaries, the
+Controlling Shareholders, the substantial shareholders (as defined in the Listing
+Rules) of the Company, the existing Shareholders, or any of their respective close
+associates or syndicate members or any other brokers or underwriters, on one hand,
+and the public Shareholder or the placee who has subscribed for the Offer Shares, on
+the other hand.
+• The Directors confirm that, to the best of their knowledge, information and belief,
+no Offer Shares under the International Placing placed by or through the Sole
+Overall Coordinator, the Joint Global Coordinators, the Joint Bookrunners, the Joint
+Lead Managers, the Underwriters or the Capital Market Intermediaries under the
+Global Offering have been placed with any core connected persons (as defined in the
+Listing Rules) of the Company, or to any connected clients (as set out in paragraph
+5(1) of the Placing Guidelines), or persons set out in paragraph 5(2) of the Placing
+Guidelines, whether in their own names or through nominees.
+Over-allotment Option
+• The Sole Overall Coordinator confirmed that no over-allocation of the Offer Shares
+under the International Placing has been made. Accordingly, the Stock Borrowing
+Agreement has not been and will not be entered into, and the Over-allotment Option
+has not been and will not be exercised. In view of the fact that there has been no
+over-allocation of the Offer Shares under the International Placing, no stabilising
+actions as described in the Prospectus will take place during the stabilising period.
+Lock-up Undertakings
+• The Company, the Controlling Shareholders and the Pre-IPO Investors are
+subject to certain lock-up undertakings as set out in the section headed “Lock-up
+Undertakings” in this announcement.
+
+
+--- page 4 ---
+– 6 –
+Results of Allocations
+• The final Offer Price, the level of indication of interest in the International Placing,
+the level of applications in the Hong Kong Public Offer and the basis of allocation
+of the Hong Kong Offer Shares are published on the website of the Stock Exchange
+at www.hkexnews.hk and the website of the Company at www.maiyuesoft.com on
+Tuesday, 10 October 2023.
+• The results of allocations in the Hong Kong Public Offer (with successful applicants’
+identification document numbers, where appropriate) will be available at the times
+and dates and in the manner set out below:
+(i) in the announcement to be posted on the website of the Stock Exchange at
+www.hkexnews.hk and the website of the Company at www.maiyuesoft.com
+by no later than 9:00 a.m. on Tuesday, 10 October 2023;
+( i i ) from the designated results of allocations website at
+www.tricor.com.hk/ipo/result and www.hkeipo.hk/IPOResult or the “IPO
+Results” function in the IPO App with a “search by ID” function on a 24-
+hour basis from 8:00 a.m. on Tuesday, 10 October 2023 to 12:00 midnight on
+Monday, 16 October 2023; and
+(iii) by telephone enquiry line by calling 3691 8488 between 9:00 a.m. and 6:00 p.m.
+from Tuesday, 10 October 2023 to Friday, 13 October 2023 on a business day.
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by
+HK eIPO White Form ” in this announcement refer to Hong Kong identity card
+numbers/passport numbers/Hong Kong business registration numbers/certificate of
+incorporation numbers/beneficial owner identification codes (if such applications
+are made by nominees as agent for the benefit of another person) whereas those
+displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS” in this announcement are
+provided by CCASS Participants via CCASS. Therefore, the identification document
+numbers shown in the two sections are different in nature. Please note that the
+list of identification document numbers set out in this announcement may not be
+a complete list of successful applicants since only successful applicants whose
+identification document numbers are provided to HKSCC by CCASS Participants
+are disclosed. Applicants with beneficial names only but not identification document
+numbers are not disclosed due to personal privacy issue as elaborated below.
+Applicants who applied for the Hong Kong Offer Shares through their brokers can
+consult their brokers to enquire about their application results.
+
+
+--- page 5 ---
+– 7 –
+• Since applications are subject to personal information collection statements,
+beneficial owner identification codes displayed in the sections headed “Results
+of Applications Made by HK eIPO White Form ” and “Results of Applications
+Made by Giving Electronic Application Instructions to HKSCC via CCASS” are
+redacted and not all details of applications are disclosed in this announcement.
+Despatch/Collection of Share Certificates/e-Auto Refund Payment Instructions/
+Refund Cheques
+• Applicants who have applied 1,000,000 Hong Kong Offer Shares or more through
+the HK eIPO White Form service and who have been successfully or partially
+successfully allocated Hong Kong Offer Shares may collect Share certificate(s)
+and/or refund cheque(s) (where applicable) in person from the Hong Kong Share
+Registrar, Tricor Investor Services Limited at 17/F, Far East Finance Centre, 16
+Harcourt Road, Hong Kong, from 9:00 a.m. to 1:00 p.m. on Tuesday, 10 October
+2023, or such other date as notified by the Company as the date of despatch/
+collection of Share certificates/e-Refund payment instructions/refund cheques.
+• Applicants being individuals who are eligible for personal collection may not
+authorise any other person to collect on their behalf. Applicants being corporations
+who opt for personal collection must attend through their authorised representatives
+bearing letters of authorisation from their corporation stamped with the corporation’s
+chop. Individuals must produce evidence of identity acceptable to the Hong Kong
+Share Registrar at the time of collection.
+• If an applicant who does not collect their Share certificate(s) and/or refund cheque(s)
+(where applicable) personally within the time specified for collection, they will
+be sent to the address specified in his/her/its application instructions on or before
+Tuesday, 10 October 2023 by ordinary post at his/her/own risk.
+• Share certificate(s) for applicants who have applied less than 1,000,000 Hong Kong
+Offer Shares through the HK eIPO White Form service will be sent to the address
+specified in his/her/its application instructions on or before Tuesday, 10 October
+2023 by ordinary post at his/her/its own risk.
+• If an applicant has applied for the Hong Kong Offer Shares through the HK eIPO
+White Form service and paid the application monies from a single bank account,
+any refund monies will be despatched to that bank account in the form of e-Auto
+Refund payment instructions. If an applicant has applied for the Hong Kong Offer
+Shares through the HK eIPO White Form service and paid the application monies
+from multiple bank accounts, any refund monies will be despatched to the address as
+specified in his/her/its application instructions in the form of refund cheque(s) in his/
+her/its name (or, in case of joint applications, the first-named applicant) by ordinary
+post at his/her/its own risk. No interest will be paid thereon.
+
+
+--- page 6 ---
+– 8 –
+• Wholly or partially successful applicants who have applied by giving electronic
+application instructions to HKSCC via CCASS will have their Share certificate(s)
+issued in the name of HKSCC Nominees and deposited into CCASS for the credit
+of the applicant’s designated CCASS Participant’s stock account or the applicant’s
+CCASS Investor Participant stock account on Tuesday, 10 October 2023, or, on any
+other date determined by HKSCC or HKSCC Nominees.
+• Applicants who have applied through a designated CCASS Participant (other than a
+CCASS Investor Participant) should check the number of Hong Kong Offer Shares
+allocated to them and the amount of refund monies (if any) payable to them with that
+CCASS Participant.
+• Applicants who have applied as a CCASS Investor Participant by giving electronic
+application instructions to HKSCC via CCASS should check and report any
+discrepancies to HKSCC before 5:00 p.m. on Tuesday, 10 October 2023 or such
+other date as determined by HKSCC or HKSCC Nominees. Applicants who
+have applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS can also check the number of Hong Kong
+Offer Shares allocated to them and the amount of refund monies (if any) payable
+to them via the CCASS Phone System and the CCASS Internet System (under the
+procedures contained in HKSCC’s “An Operating Guide for Investor Participants”
+in effect from time to time) on Tuesday, 10 October 2023. Immediately following
+the credit of the Hong Kong Offer Shares to the CCASS Investor Participants stock
+accounts and the credit of refund monies to the CCASS Investor Participants bank
+accounts, HKSCC will also make available to the CCASS Investor Participant an
+activity statement showing the number of Hong Kong Offer Shares credited to their
+CCASS Investor Participant stock accounts and the amount of refund monies (if
+any) credited to their respective designated bank accounts.
+• Refund monies (if any) for applicants who have applied by giving electronic
+application instructions to HKSCC via CCASS will be credited to their respective
+designated bank accounts or the designated bank accounts of their respective brokers
+or custodians on Tuesday, 10 October 2023.
+• Share certificates will only become valid at 8:00 a.m. on 11 October 2023,
+provided that (i) the Global Offering has become unconditional in all respects; and
+(ii) the right of termination as described in the section headed “Underwriting —
+Underwriting arrangements and expenses — Hong Kong Public Offer — Grounds
+for termination” of the Prospectus has not been exercised. Investors who trade
+Shares prior to the receipt of Share certificates or prior to the Share certificates being
+valid evidence of title do so entirely at their own risk.
+• No temporary evidence of title will be issued in respect of the Shares. No receipt
+will be issued for sums paid on application.
+
+
+--- page 7 ---
+– 9 –
+Public Float
+• Immediately after completion of the Global Offering and the Capitalisation Issue,
+(i) 194,000,000 Shares, representing 38.8% of the issued Shares will be held in the
+public hands, satisfying the minimum percentage requirement under Rule 8.08(1)
+of the Listing Rules; (ii) the three largest public Shareholders will not hold more
+than 50% of the Shares held in the public hands at the time of Listing in compliance
+with Rules 8.08(3) and 8.24 of the Listing Rules; and (iii) there will be at least 300
+Shareholders at the time of Listing in compliance with Rule 8.08(2) of the Listing
+Rules.
+• The Directors confirm that immediately after the completion of the Global Offering,
+(i) no placee will, individually, be placed more than 10% of the enlarged issued share
+capital of the Company; and (ii) there will not be any new substantial shareholder (as
+defined in the Listing Rules) of the Company.
+Commencement of Dealings
+• Assuming that the Global Offering becomes unconditional in all respects at or before
+8:00 a.m. on Wednesday, 11 October 2023, it is expected that dealings in the Shares
+on the Stock Exchange will commence at 9:00 a.m. on Wednesday, 11 October
+2023. The Shares will be traded in board lots of 2,000 Shares each. The stock code
+of the Shares is 2501.
+In view of the 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.
+OFFER PRICE
+The Offer Price has been determined at HK$1.18 per Offer Share (exclusive of brokerage
+of 1%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock
+Exchange trading fee of 0.00565%).
+
+
+--- page 8 ---
+– 10 –
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$1.18 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deducting the underwriting commissions and
+other estimated expenses payable by the Company in connection with the Global Offering,
+are estimated to be approximately HK$90.9 million. The Company intends to use such net
+proceeds in the following manner:
+• approximately 20.9%, or HK$19.0 million, of the net proceeds will be used to fund the
+Company’s capital needs and cash flow for the Company’s new projects as part of the
+Company’s expansion strategy;
+• approximately 27.8%, or HK$25.3 million, of the net proceeds will be used to establish
+and strengthen the Company’s research and development centres and recruit additional
+research and development staff to strengthen the Company’s research and development
+capabilities;
+• approximately 9.1%, or HK$8.3 million, of the net proceeds will be used to recruit
+additional staff in the Company’s sales and marketing team, project management team
+and technical team in support of the Company’s business expansion;
+• approximately 11.8%, or HK$10.7 million, of the net proceeds will be used to upgrade
+the Company’s IT infrastructure including upgrading and optimising the Company’s
+existing IT infrastructure to enable the Company to effectively monitor and control the
+Company’s operations and setting up interactive information kiosks;
+• approximately 20.4%, or HK$18.5 million, of the net proceeds will be used to optimise
+the Company’s capital structure and improve the Company’s liquidity profile by
+repaying part of the Company’s bank borrowings; and
+• the remaining balance of approximately 10.0%, or HK$9.1 million, of the net proceeds
+will be used for working capital and general corporate purposes.
+For further information, please refer to the section headed “Future Plans and Use of
+Proceeds” in the Prospectus.
+
+
+--- page 9 ---
+– 11 –
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED UNDER
+THE HONG KONG PUBLIC OFFER
+The Hong Kong Offer Shares initially offered under the Hong Kong Public Offer have been
+slightly over-subscribed. A total of 1,511 valid applications have been received pursuant to
+the Hong Kong Public Offer (being applications made through the HK eIPO White Form
+service and the CCASS EIPO service) for a total of 30,856,000 Hong Kong Offer Shares,
+representing approximately 2.46 times of the total number of 12,500,000 Hong Kong Offer
+Shares initially available for subscription under the Hong Kong Public Offer, among which:
+• 1,509 valid applications in respect of a total of 22,856,000 Hong Kong Offer Shares
+were for the Hong Kong Public Offer with an aggregate subscription amount based
+on the maximum Offer Price of HK$1.40 per Offer Share (excluding brokerage of
+1%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and
+Stock Exchange trading fee of 0.00565%) of HK$5 million or below, representing
+approximately 3.66 times of the 6,250,000 Hong Kong Offer Shares initially comprised
+in pool A; and
+• 2 valid applications in respect of a total of 8,000,000 Hong Kong Offer Shares were
+for the Hong Kong Public Offer with an aggregate subscription amount based on the
+maximum Offer Price of HK$1.40 per Offer Share (excluding brokerage of 1%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%) of over HK$5 million, representing approximately 1.28 times
+of the 6,250,000 Hong Kong Offer Shares initially comprised in pool B.
+No application has been rejected due to invalid application. No multiple or suspected
+multiple application was identified and rejected. No dishonoured payment has been
+identified and rejected. No application for more than 6,250,000 Hong Kong Offer Shares
+(being 50% of the 12,500,000 Hong Kong Offer Shares initially available for subscription
+under the Hong Kong Public Offer) has been identified.
+The reallocation procedures as described in the section headed “Structure and Conditions of
+the Global Offering — Hong Kong Public Offer — Reallocation” in the Prospectus have not
+been applied. The final number of Offer Shares under the Hong Kong Public Offer remains
+to be 12,500,000 Offer Shares, representing 10% of the total number of Offer Shares
+initially available under the Global Offering, which have been allocated to 1,511 successful
+applicants under the Hong Kong Public Offer.
+The Offer Shares offered in the Hong Kong Public Offer were conditionally allocated on the
+basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offer”
+below.
+
+
+--- page 10 ---
+– 12 –
+INTERNATIONAL PLACING
+The International Placing Shares initially offered under the International Placing have been
+slightly over-subscribed, representing approximately 1.16 times the number of International
+Placing Shares initially available under the International Placing. The reallocation
+procedures as described in the section headed “Structure and Conditions of the Global
+Offering — Hong Kong Public Offer — Reallocation” in the Prospectus have not been
+applied. The final number of International Placing Shares under the International Placing
+remains to be 112,500,000 Offer Shares, representing 90% of the total number of Offer
+Shares initially available under the Global Offering.
+No over-allocation of Offer Shares has been made and there are a total of 102 placees
+under the International Placing, among which 45 placees have been allotted five or fewer
+board lots of Offer Shares, representing approximately 44.1% of the 102 placees under
+the International Placing and 44 placees have been allotted one board lot of Offer Shares,
+representing approximately 43.1% of the 102 placees under the International Placing.
+The International Placing has been conducted in compliance with the Placing Guidelines for
+Equity Securities in Appendix 6 to the Listing Rules. None of the Sole Sponsor, the Sole
+Overall Coordinator, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead
+Managers, the Underwriters, the Capital Market Intermediaries and their respective affiliated
+companies and connected clients of the lead broker or of any distributors (as defined in
+the Placing Guidelines) has taken up any Offer Shares for its own benefit under the Global
+Offering.
+To the best knowledge of the Company, (i) none of the Offer Shares subscribed for by
+public Shareholders in the Hong Kong Public Offer and placees in the International Placing
+has been financed directly, or indirectly by the Company, the Directors, the chief executive
+of the Company or any of its subsidiaries, the Controlling Shareholders, substantial
+shareholders (as defined in the Listing Rules) of the Company, existing Shareholders, or any
+of their respective close associates; (ii) none of the public Shareholders in the Hong Kong
+Public Offer and placees in the International Placing who has subscribed for the Offer Shares
+is accustomed to taking instructions from the Company, the Directors, the chief executive
+of the Company or any of its subsidiaries, the Controlling Shareholders, substantial
+shareholders (as defined in the Listing Rules) of the Company, existing Shareholders, or any
+of their respective close associates in relation to the acquisition, disposal, voting or other
+disposition of the Shares registered in their name or otherwise held by them; (iii) no rebate
+has been, directly or indirectly, provided by the Company, the Directors, the chief executive
+of the Company or any of its subsidiaries, the Controlling Shareholders, the substantial
+shareholders (as defined in the Listing Rules) of the Company, the existing Shareholders, or
+any of their respective close associates, or syndicate members or any brokers or underwriters
+to any public Shareholders in the Hong Kong Public Offer or placees in the International
+Placing; (iv) the consideration payable by the public Shareholders in the Hong Kong
+
+
+--- page 11 ---
+– 13 –
+Public Offer and placees in the International Placing for each Offer Share subscribed for
+or purchased by them is the same as the final Offer Price as determined by the Company,
+in additional to brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction
+levy of 0.00015% and Stock Exchange trading fee of 0.00565%; and (v) there is no side
+agreement or arrangement between the Company, any of the Directors, the chief executive
+of the Company or any of its subsidiaries, the Controlling Shareholders, the substantial
+shareholders (as defined in the Listing Rules) of the Company, the existing Shareholders,
+or any of their respective close associates or syndicate members or any other brokers or
+underwriters, on one hand, and the public Shareholder or the placee who has subscribed for
+the Offer Shares, on the other hand.
+The Directors confirm that, to the best of their knowledge, information and belief, no Offer
+Shares under the International Placing placed by or through the Sole Overall Coordinator,
+the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the
+Underwriters, the Capital Market Intermediaries under the Global Offering have been placed
+with any core connected persons (as defined in the Listing Rules) of the Company, or to
+any connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons
+set out in paragraph 5(2) of the Placing Guidelines, whether in their own names or through
+nominees.
+Over-allotment Option
+In connection with the Global Offering, the Company has granted the Over-allotment
+Option to the International Underwriters, exercisable by the Sole Overall Coordinator (for
+itself and on behalf of the International Underwriters) at any time from the Listing Date to
+Friday, 3 November 2023, the 30th day after the last day for lodging applications under the
+Hong Kong Public Offer, pursuant to which the Company may be required to allot and issue
+up to an aggregate of 18,750,000 additional new Shares, representing 15% of the initial
+number of Offer Shares offered under the Global Offering, at the Offer Price to cover the
+over-allocation in the International Placing.
+The Sole Overall Coordinator confirmed that no over-allocation of the Offer Shares under
+the International Placing has been made. Accordingly, the Stock Borrowing Agreement
+has not been and will not be entered into, and the Over-allotment Option has not been and
+will not be exercised. In view of the fact that there has been no over-allocation of the Offer
+Shares under the International Placing, no stabilising actions as described in the Prospectus
+will take place during the stabilising period.
+
+
+--- page 12 ---
+– 14 –
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFER
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure and
+Conditions of the Global Offering — Conditions of the Global Offering” in the Prospectus,
+1,511 valid applications made by the public through the HK eIPO White Form service and
+the CCASS EIPO service 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
+2,000 959 2,000 Shares 100.00%
+4,000 78 2,000 Shares plus 39 out of 78 applicants to receive
+an additional 2,000 Shares
+75.00%
+6,000 134 2,000 Shares plus 108 out of 134 applicants to
+receive an additional 2,000 Shares
+60.20%
+8,000 29 4,000 Shares 50.00%
+10,000 56 4,000 Shares plus 14 out of 56 applicants to receive
+an additional 2,000 Shares
+45.00%
+20,000 40 6,000 Shares plus 30 out of 40 applicants to receive
+an additional 2,000 Shares
+37.50%
+30,000 112 8,000 Shares plus 56 out of 112 applicants to
+receive an additional 2,000 Shares
+30.00%
+40,000 11 10,000 Shares 25.00%
+50,000 10 10,000 Shares plus 9 out of 10 applicants to receive
+an additional 2,000 Shares
+23.60%
+60,000 4 12,000 Shares plus 2 out of 4 applicants to receive
+an additional 2,000 Shares
+21.67%
+70,000 17 14,000 Shares plus 1 out of 17 applicants to receive
+an additional 2,000 Shares
+20.17%
+80,000 4 14,000 Shares plus 3 out of 4 applicants to receive
+an additional 2,000 Shares
+19.38%
+90,000 2 16,000 Shares plus 1 out of 2 applicants to receive
+an additional 2,000 Shares
+18.89%
+100,000 24 16,000 Shares plus 18 out of 24 applicants to
+receive an additional 2,000 Shares
+17.50%
+200,000 22 24,000 Shares plus 4 out of 22 applicants to receive
+an additional 2,000 Shares
+12.18%
+
+
+--- page 13 ---
+– 15 –
+No. of
+Shares
+applied for
+No. of
+valid
+applications Basis of allotment/ballot
+Approximate
+percentage
+allotted of the
+total no. of
+Shares applied
+for
+300,000 1 32,000 Shares 10.67%
+400,000 2 38,000 Shares 9.50%
+500,000 1 44,000 Shares 8.80%
+600,000 1 48,000 Shares 8.00%
+1,000,000 1 66,000 Shares 6.60%
+2,000,000 1 100,000 Shares 5.00%
+Total 1,509 Total number of Pool A successful applicants: 1,509
+POOL B
+4,000,000 2 3,124,000 Shares plus 1 out of 2 applicants to
+receive an additional 2,000 Shares
+78.13%
+
+Total 2 Total number of Pool B successful applicants: 2
+The final number of Offer Shares comprising the Hong Kong Public Offer is 12,500,000
+Offer Shares, representing 10% of the total number of the Offer Shares initially available
+under the Global Offering.
+
+
+--- page 14 ---
+– 16 –
+LOCK-UP UNDERTAKINGS
+The Company, the Controlling Shareholders and the Pre-IPO Investors are subject to certain
+lock-up undertakings (the “Lock-up Undertakings”) in respect of the Shares. The major
+terms of the Lock-up Undertakings are set out as follows:
+Name
+Number of
+Shares subject
+to the Lock-up
+Undertakings
+after Listing
+Approximate
+percentage of
+the total issued
+share capital of
+the Company
+following the
+completion
+of the Global
+Offering which
+are subject to
+the Lock-up
+Undertakings
+upon Listings
+Last day of the
+lock-up period
+The Company(1)
+(subject to lock-up obligations
+pursuant to the Listing
+Rules and the Underwriting
+Agreements)
+N/A N/A 10 April 2024
+(First Six-Month Period);
+10 October 2024
+(Second Six-Month Period)
+Controlling Shareholders(2)
+(subject to lock-up obligations
+pursuant to the Listing
+Rules and the Underwriting
+Agreements)
+306,000,000 61.2% 10 April 2024
+(First Six-Month Period);
+ 10 October 2024
+(Second Six-Month Period)
+Pre-IPO Investors
+(subject to lock-up obligations
+pursuant to the relevant share
+purchase agreements)
+Mr. Ye (through Canwest Profits) 30,000,000 6.0% 10 April 2024
+Mr. Chan (through Million Oak) 28,125,000 5.625% 10 April 2024
+Mr. Chua 10,875,000 2.175% 10 April 2024
+Total 375,000,000 75.0%
+
+
+--- page 15 ---
+– 17 –
+Notes:
+1. The Company may not, among others, issue or agree to issue or publicly announce its intention to
+issue Shares or securities of the Company during the First Six-Month Period except for the issue of
+the Shares pursuant to the Global Offering, the Capitalisation Issue, the exercise of the Over-allotment
+Option, the grant of options under the Share Option Scheme and the issue of Shares on the exercise
+thereof or as otherwise with the prior written consent of the Sole Sponsor and the Sole Overall
+Coordinator, and unless in compliance with the Listing Rules. In the event the Company does so by
+virtue of the aforesaid exceptions or during the Second Six-Month Period, the Company will take all
+reasonable steps to ensure that such action will not create a disorderly or false market in any of the
+Shares or other securities of the Company. For details of the lock-up arrangements of the Company,
+please refer to the paragraphs headed “Underwriting — Hong Kong Underwriting Agreement —
+Undertakings by our Company” in the Prospectus.
+2. The Controlling Shareholders may not, among others, transfer or dispose of or agree to transfer or
+dispose of or publicly announce any intention to transfer or dispose of any Shares or securities of the
+Company during the First Six-Month Period without the prior written consent of the Sole Sponsor
+and the Sole Overall Coordinator and unless in compliance with the Listing Rules. The Controlling
+Shareholders may not, among others, enter into or agree to or publicly announce any intention to enter
+into transfer or disposal of any Shares or securities of the Company during the Second Six-Month
+Period, if, immediately following such transfer or disposal, he/she/it will cease to be a controlling
+shareholder and/or a group of controlling shareholders of the Company. For details of the lock-up
+arrangements of the Controlling Shareholders, please refer to the paragraphs headed “Underwriting —
+Hong Kong Underwriting Agreement — Undertaking by our Controlling Shareholders”.
+RESULTS OF ALLOCATIONS
+The final Offer Price, the level of indication of interest in the International Placing, the level
+of applications in the Hong Kong Public Offer and the basis of allocation of the Hong Kong
+Offer Shares are published on the website of the Stock Exchange at www.hkexnews.hk and
+the website of the Company at www.maiyuesoft.com on Tuesday, 10 October 2023.
+The results of allocations in the Hong Kong Public Offer (with successful applicants’
+identification document numbers, where appropriate) will be available at the times and dates
+and in the manner set out below:
+(i) in the announcement to be posted on the website of the Stock Exchange at
+www.hkexnews.hk and the website of the Company at www.maiyuesoft.com by no
+later than 9:00 a.m. on Tuesday, 10 October 2023;
+
+
+--- page 16 ---
+– 18 –
+(ii) from the designated results of allocations website at www.tricor.com.hk/ipo/result
+and www.hkeipo.hk/IPOResult or the “IPO Results” function in the IPO App with
+a “search by ID” function on a 24-hour basis from 8:00 a.m. on Tuesday, 10 October
+2023 to 12:00 midnight on Monday, 16 October 2023; and
+(iii) by telephone enquiry line by calling 3691 8488 between 9:00 a.m. and 6:00 p.m. from
+Tuesday, 10 October 2023 to Friday, 13 October 2023 on a business day.
+This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by HK eIPO
+White Form” in this announcement refer to Hong Kong identity card numbers/passport
+numbers/Hong Kong business registration numbers/certificate of incorporation numbers/
+beneficial owner identification codes (if such applications are made by nominees as agent
+for the benefit of another person) whereas those displayed in the section headed “Results
+of Applications Made by Giving Electronic Application Instructions to HKSCC via
+CCASS” in this announcement are provided by CCASS Participants via CCASS. Therefore,
+the identification document numbers shown in the two sections are different in nature.
+Please note that the list of identification document numbers set out in this announcement
+may not be a complete list of successful applicants since only successful applicants whose
+identification document numbers are provided to HKSCC by CCASS Participants are
+disclosed. Applicants with beneficial names only but not identification document numbers
+are not disclosed due to personal privacy issue as elaborated below. Applicants who applied
+for the Hong Kong Offer Shares through their brokers can consult their brokers to enquire
+about their application results.
+Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications Made
+by HK eIPO White Form” and “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS” are redacted and not all details of
+applications are disclosed in this announcement.
+
+
+--- page 17 ---
+– 19 –
+SHAREHOLDING CONCENTRATION ANALYSIS
+Set out below is an analysis of shareholding concentration in the International Placing.
+• subscription and number of Shares held by the top 1, 5, 10, 20 and 25 of the placees
+out of the International Placing Shares, total Offer Shares and total issued share capital
+of the Company upon Listing:
+Placee
+Number
+of Shares
+subscribed for
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Placing
+Subscription
+as % of total
+Offer Shares
+Total
+shareholding
+as % of total
+issued share
+capital upon
+Listing
+Top 1 14,544,000 14,544,000 12.9% 11.6% 2.9%
+Top 5 54,516,000 54,516,000 48.5% 43.6% 10.9%
+Top 10 79,622,000 79,622,000 70.8% 63.7% 15.9%
+Top 20 103,474,000 103,474,000 92.0% 82.8% 20.7%
+Top 25 106,716,000 106,716,000 94.9% 85.4% 21.3%
+• subscription and number of Shares held by the top 1, 5, 10, 20 and 25 of the
+Shareholders out of the International Placing Shares, total Offer Shares and total issued
+share capital of the Company upon Listing:
+Shareholder
+Number
+of Shares
+subscribed for
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Placing
+Subscription
+as % of total
+Offer Shares
+Total
+shareholding
+as % of total
+issued share
+capital upon
+Listing
+Top 1 — 306,000,000 0.0% 0.0% 61.2%
+Top 5 14,544,000 389,544,000 12.9% 11.6% 77.9%
+Top 10 60,340,000 435,340,000 53.6% 48.3% 87.1%
+Top 20 98,410,000 473,410,000 81.9% 78.7% 94.7%
+Top 25 108,306,000 483,306,000 90.7% 86.6% 96.7%
+In view of the 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.
diff --git a/data/extracted_text/02517/allotment_results_summary_2023-11-01_2023110100020.txt b/data/extracted_text/02517/allotment_results_summary_2023-11-01_2023110100020.txt
new file mode 100644
index 0000000..06e2834
--- /dev/null
+++ b/data/extracted_text/02517/allotment_results_summary_2023-11-01_2023110100020.txt
@@ -0,0 +1,944 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF ALLOTMENT RESULTS
+SUMMARY
+NET PROCEEDS FROM THE GLOBAL OFFERING
+• Based on the Offer Price of HK$5.98 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and other estimated expenses payable by the Company in connection with
+the Global Offering, are estimated to be approximately HK$356.5 million, assuming the
+Over-allotment Option is not exercised. Listing expenses to be borne by the Company are
+estimated to be approximately HK$79.8 million (including underwriting commission, at the
+Offer Price of HK$5.98 per H Share), which represent 19.4% of the gross proceeds from
+the Global Offering, comprising underwriting-related fees of HK$16.5 million, and non-
+underwriting-related expenses of HK$63.3 million. The Company intends to apply such
+net proceeds from the Global Offering in the manner set out in the section headed “Net
+Proceeds from the Global Offering ” in this announcement.
+• If the Over-allotment Option is exercised in full, the Company will receive additional net
+proceeds of approximately HK$59.2 million for 10,320,400 additional Offer Shares to be
+issued and allotted upon the exercise of the Over-allotment Option, which will be allocated
+on a pro rata basis according to the use of proceeds as set out in the paragraph headed “Net
+Proceeds from the Global Offering ” in this announcement.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been slightly over-subscribed. A total of 6,404 valid applications have been received
+pursuant to the Hong Kong Public Offering through the White Form eIPO service and
+through the CCASS EIPO service for a total of 29,894,000 Hong Kong Offer Shares,
+representing approximately 4.34 times of the total number of 6,880,800 Hong Kong Offer
+Shares initially available for subscription under the Hong Kong Public Offering.
+
+
+--- page 2 ---
+4
+• As the over-subscription in the Hong Kong Public Offering less than 15 times, the
+reallocation procedures as described in the section headed “Structure of the Global Offering
+– The Hong Kong Public Offering – Reallocation ” in the Prospectus have not been applied
+and no International Offer Shares have been reallocated from the International Offering to
+the Hong Kong Public Offering. The final number of Hong Kong Offer Shares under the
+Hong Kong Public Offering is 6,880,800 Offer Shares, representing approximately 10% of
+the total number of Offer Shares initially available under the Global Offering (before any
+exercise of the Over-allotment Option). There are a total number of 2,540 Shareholders
+who were allocated Offer Shares under the Hong Kong Public Offering, among which 1,746
+Shareholders were allocated with one board lot of the Offer Shares.
+INTERNATIONAL OFFERING
+• The International Offer Shares initially offered under the International Offering have
+been slightly over-subscribed, representing approximately 1.33 times of the total number
+of Offer Shares initially available under the International Offering. The final number of
+International Offer Shares under the International Offering is 61,922,000 Offer Shares,
+representing approximately 90% of the total number of Offer Shares initially available
+under the Global Offering (before any exercise of the Over-allotment Option).
+• There has been an over-allocation of 10,320,400 Offer Shares and there are a total of
+119 placees under the International Offering, among which 41 placees, representing
+approximately 34.45% of the total number of placees under the International Offering,
+have been allotted one board lot of Offer Shares, totaling 16,400 Offer Shares, representing
+approximately 0.03% of the total number of Offer Shares available under the International
+Offering (before any exercise of the Over-allotment Option).
+CORNERSTONE INVESTORS
+• Based on the Offer Price of HK$5.98 per Offer Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%) and pursuant to the Cornerstone Investment Agreements entered
+into with the Cornerstone Investors as disclosed in the section headed “Cornerstone
+Investors ” in the Prospectus, the Cornerstone Investors have subscribed for a total of
+37,002,800 Offer Shares, representing approximately 1.35% of the total issued share
+capital of the Company immediately upon the completion of the Global Offering and
+approximately 53.78% of the number of Offer Shares under the Global Offering (before
+any exercise of the Over-allotment Option).
+
+
+--- page 3 ---
+5
+• Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further
+details of the Cornerstone Investors.
+OVER-ALLOTMENT OPTION
+• In connection with the Global Offering, the Company has granted the Over-allotment
+Option to the International Underwriters, exercisable by the Overall Coordinator (for
+themselves and on behalf of the International Underwriters), at any time from the Listing
+Date to Saturday, November 25, 2023, being the 30th day after the last day for lodging
+applications under the Hong Kong Public Offering, to require the Company to issue and
+allot up to an aggregate of 10,320,400 additional Offer Shares, representing not more
+than approximately 15.0% of the total number of Offer Shares initially available under
+the Global Offering, at the Offer Price to cover the over-allocations in the International
+Offering.
+• There has been an over-allocation of 10,320,400 Offer Shares in the International
+Offering. Such over-allocation may be covered by exercising the Over-allotment Option
+in part or by making purchases in the secondary market or a combination of these means.
+In the event the Over-allotment Option is exercised, an announcement will be made
+on the Stock Exchange ’s website at www.hkexnews.hk and the Company ’s website at
+www.zzgqsh.com . As of the date of this announcement, the Over-allotment Option has not
+been exercised.
+
+
+--- page 4 ---
+6
+CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
+OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
+• The Company has applied to the Hong Kong Stock Exchange for, and the Hong Kong
+Stock Exchange has granted, a waiver from strict compliance with Rule 10.04 of the
+Listing Rules and its consent under paragraph 5(2) of the Placing Guidelines to permit
+the Company to allocate H Shares under the International Offering to the Anti-Diluting
+Shareholders and Minority Existing Shareholders and/or their respective close associates.
+To the best knowledge of the Company, no Offer Shares have been placed to the Anti-
+Diluting Shareholders, Minority Existing Shareholders or their respective close associates
+in the International Offering.
+• To the best knowledge, information and belief of the Directors, no Offer Shares placed
+by or through the Overall Coordinators or the Underwriters/distributors under the Global
+Offering have been placed to applicants who are core connected persons (as defined in the
+Listing Rules) or Directors, or to any connected clients (as set out in paragraph 5(1) of the
+Placing Guidelines), nor to any existing Shareholder and its close associates (as set out in
+paragraph 5(2) of the Placing Guidelines) whether in their own names or through nominees.
+• To the best knowledge of the Company, none of the Offer Shares subscribed for by the
+placees and the public has been financed directly or indirectly by any of the Directors,
+Supervisors, chief executive, Controlling Shareholders, substantial Shareholders, existing
+Shareholders of the Company or any of their subsidiaries or any of their respective close
+associates, and none of the placees and the public who has subscribed for Offer Shares is
+accustomed to taking instructions from any of the Directors, Supervisors, chief executive,
+Controlling Shareholders, substantial Shareholders, existing Shareholders of the Company
+or any of their subsidiaries or any of 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, and the International Offering is in compliance with the
+Placing Guidelines.
+
+
+--- page 5 ---
+7
+LOCK-UP UNDERTAKINGS
+• Each of the Company, the Warranting Shareholders, the other Controlling Shareholders,
+the other existing Shareholders and the Cornerstone Investors is subject to certain lock-up
+undertakings set out in the section headed “Lock-up Undertakings ” in this announcement.
+RESULTS OF ALLOCATIONS
+• The Company expects to announce the level of indications of interest in the International
+Offering, the level of applications in the Hong Kong Public Offering and the basis of
+allocations of the Hong Kong Offer Shares on Wednesday, November 1, 2023 on its
+website at www.zzgqsh.com and the website of Stock Exchange at www.hkexnews.hk .
+• The results of allocations and the Hong Kong identity card/passport/Hong Kong business
+registration numbers of successful applicants under the Hong Kong Public Offering will be
+available at the times and dates and in the manner set out below:
+• in the announcement to be posted on the Company ’s website and the website of Stock
+Exchange at www.zzgqsh.com and www.hkexnews.hk , respectively, by no later than
+9:00 a.m. on Wednesday, November 1, 2023;
+• from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID ” function on a 24
+hour basis from 8:00 a.m. on Wednesday, November 1, 2023 to 12:00 midnight on
+Tuesday, November 7, 2023; and
+• from the allocation results telephone enquiry line by calling +852 2862 8555 between
+9:00 a.m. and 6:00 p.m. from Wednesday, November 1, 2023 to Monday, November
+6, 2023 on a business day (excluding Saturday, Sunday and public holidays).
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by White
+Form eIPO ” in this announcement refer to Hong Kong identity card numbers/passport
+numbers/Hong Kong business registration numbers/certificate of incorporation numbers/
+beneficial owner identification codes (if such applications are made by nominees as agent
+for the benefit of another person), whereas those displayed in the section headed “Results
+of Applications Made by Giving Electronic Application Instructions to HKSCC via
+CCASS” in this announcement are provided by CCASS Participants via CCASS. Therefore,
+the identification document numbers shown in the two sections are different in nature.
+
+
+--- page 6 ---
+8
+• Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications
+Made by White Form eIPO ” and “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” are redacted and not all details of
+applications are disclosed in this announcement.
+DESPATCH/COLLECTION OF H SHARE CERTIFICATES AND REFUND MONIES
+• Applicants who applied for 1,000,000 Hong Kong Offer Shares or more through the
+White Form eIPO service and who have been wholly or partially successfully allocated
+Hong Kong Offer Shares may collect H Share certificates and/or refund cheques (where
+applicable) in person from the Hong Kong Share Registrar, Computershare Hong Kong
+Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen ’s
+Road East, Wan Chai, Hong Kong from 9:00 a.m. to 1:00 p.m. on Wednesday, November 1,
+2023 or any other place or date as notified by the Company.
+• Applicants being individuals who are eligible for personal collection must not authorize
+any other person to make collection on their behalf. Corporate applicants which are
+eligible for personal collection must attend by their authorized representatives bearing
+letters of authorization from their corporations stamped with the corporations ’ chops. Both
+individuals and authorized representatives (if applicable) must produce, at the time of
+collection, evidence of identity acceptable to Computershare Hong Kong Investor Services
+Limited.
+• H Share certificates for Hong Kong Offer Shares allotted to applicants who applied through
+the White Form eIPO service which are either not available for personal collection
+(including applicants who applied for less than 1,000,000 Hong Kong Offer Shares through
+the White Form eIPO service) or which are available but are not collected in person by
+1:00 p.m. on Wednesday, November 1, 2023 are expected to be despatched by ordinary
+post to the addresses specified in the relevant applications at their own risk on or before
+Wednesday, November 1, 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their H Share certificates issued in the name
+of HKSCC Nominees Limited and deposited directly into CCASS for credit to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participant who gave electronic application instructions on their behalf on Wednesday,
+November 1, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them and the amount of refund monies payable to them with that CCASS Participant.
+
+
+--- page 7 ---
+9
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to
+HKSCC before 5:00 p.m. on Wednesday, November 1, 2023 or such other date as shall be
+determined by HKSCC. Applicants who applied as a CCASS Investor Participant by giving
+electronic application instructions to HKSCC via CCASS may also check the results of
+their applications and the amount of refund monies payable to them via the CCASS Phone
+System and the CCASS Internet System (under the procedures contained in HKSCC ’s “An
+Operating Guide for Investor Participants ” in effect from time to time). Immediately after
+the crediting of the Hong Kong Offer Shares to the CCASS Investor Participants stock
+accounts and the crediting of the refund monies to their respective designated bank account,
+HKSCC will also make available to the CCASS Investor Participants an activity statement
+showing the number of Hong Kong Offer Shares credited to their stock accounts and the
+amount of refund monies (if any) credited to their respective designated bank accounts.
+• Applicants who applied through the White Form eIPO service and paid the application
+monies through a single bank account will have refund monies (if any) despatched to their
+application payment bank account in the form of e-Refund payment instructions on or
+before Wednesday, November 1, 2023. Applicants who applied through the White Form
+eIPO service and paid the application monies through multiple bank accounts will have
+refund monies (if any) despatched to the addresses specified on their White Form eIPO
+applications in the form of refund cheque(s) by ordinary post at their own risk on or before
+Wednesday, November 1, 2023.
+• Refund monies (if any) for applicants who applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to their designated bank
+accounts or the designated bank accounts of their brokers or custodians on Wednesday,
+November 1, 2023.
+• H Share certificates will only become valid evidence of title at 8:00 a.m. (Hong Kong
+time) on Thursday, November 2, 2023 provided that the Global Offering has become
+unconditional in all respects at or before that time and the right of termination described
+in the section headed “Underwriting – Underwriting Arrangements and Expenses –
+Hong Kong Public Offering – Hong Kong Underwriting Agreement – Grounds for
+Termination ” in the Prospectus has not been exercised.
+• The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+
+
+--- page 8 ---
+10
+PUBLIC FLOAT
+• Immediately following completion of the Global Offering and before the exercise of the
+Over-allotment Option, approximately 50.11% of the total issued share capital of the
+Company will be counted towards the public float, satisfying the minimum percentage
+prescribed by Rule 8.08 of the Listing Rules.
+• The Directors also confirm that (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 of the Company upon Listing; (iii)
+the three largest public Shareholders do not hold more than 50% of the Shares held 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 IN THE H SHARES
+• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
+a.m. on Thursday, November 2, 2023 (Hong Kong time), dealings in the H Shares on the
+Main Board of the Stock Exchange are expected to commence at 9:00 a.m. on Thursday,
+November 2, 2023 (Hong Kong time). The H Shares will be traded in board lots of 400 H
+Shares each. The stock code of the H Shares is 2517.
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$5.98 per Offer Share, the net proceeds from the Global Offering to
+be received by the Company, after deduction of the underwriting fees and commissions and other
+estimated expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$356.5 million (assuming the Over-allotment Option is not exercised).
+Listing expenses to be borne by the Company are estimated to be approximately HK$79.8 million
+(including underwriting commission, at the Offer Price of HK$5.98 per H Share), which represent
+19.4% of the gross proceeds from the Global Offering, comprising underwriting-related fees of
+HK$16.5 million, and non-underwriting related expenses of HK$63.3 million.
+
+
+--- page 9 ---
+11
+The Company intends to apply such net proceeds as follows:
+• approximately 40.0% of the net proceeds, or HK$142.6 million, to improve our supply chain
+capabilities by enhancing our production capacity and efficiency.
+• approximately 40.0% of the net proceeds, or HK$142.6 million will be used for opening and
+operating our self-operated stores.
+• approximately 10.0% of the net proceeds, or HK$35.6 million will be used to build product
+R&D centers as well as upgrade and purchase related equipment.
+• approximately 10.0% of the net proceeds, or HK$35.6 million, as working capital and for
+general corporate uses.
+If the Over-allotment Option is exercised in full, the Company will receive additional net proceeds
+of approximately HK$59.2 million for 10,320,400 additional Offer Shares to be issued and allotted
+upon the exercise of the Over-allotment Option, which will be allocated on a pro rata basis
+according to the use of proceeds as set out above.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
+the Prospectus.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
+slightly over-subscribed. A total of 6,404 valid applications have been received pursuant to the
+Hong Kong Public Offering through the White Form eIPO service and through the CCASS EIPO
+service for a total of 29,894,000 Hong Kong Offer Shares, representing approximately 4.34 times
+of the total number of 6,880,800 Hong Kong Offer Shares initially available for subscription under
+the Hong Kong Public Offering, among which:
+• 6,397 valid applications in respect of a total of 19,694,000 Hong Kong Offer Shares were for
+the Hong Kong Public Offering with a total subscription price of HK$5 million or less at the
+Offer Price of HK$5.98 per H Share (exclusive of brokerage of 1.0%, SFC transaction levy of
+0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%),
+representing approximately 5.72 times of the 3,440,400 Hong Kong Offer Shares initially
+comprised in Pool A of the Hong Kong Public Offering; and
+• 7 valid applications in respect of a total of 10,200,000 Hong Kong Offer Shares were for the
+Hong Kong Public Offering with a total subscription price of more than HK$5 million at the
+Offer Price of HK$5.98 per H Share (exclusive of brokerage of 1.0%, SFC transaction levy of
+0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%),
+representing 2.96 times of the 3,440,400 Hong Kong Offer Shares initially comprised in Pool
+B of the Hong Kong Public Offering.
+
+
+--- page 10 ---
+12
+No application has been rejected due to invalid application. Eight multiple or suspected multiple
+applications have been identified and rejected. One application has been rejected due to dishonored
+payment. No application for more than 3,440,400 Hong Kong Offer Shares (being 50% of the Hong
+Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
+As the over-subscription in the Hong Kong Public Offering is less than 15 times, the reallocation
+procedures as described in the section headed “Structure of the Global Offering – The Hong Kong
+Public Offering – Reallocation ” in the Prospectus have not been applied and no International Offer
+Shares have been reallocated from the International Offering to the Hong Kong Public Offering.
+The final number of Hong Kong Offer Shares under the Hong Kong Public Offering is 6,880,800
+Offer Shares, representing approximately 10% of the total number of Offer Shares initially
+available under the Global Offering. There are a total number of 2,540 Shareholders who were
+allocated Offer Shares under the Hong Kong Public Offering, among which 1,746 Shareholders
+were allocated with one board lot of the Offer Shares.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offering ”
+below.
+INTERNATIONAL OFFERING
+The International Offer Shares initially offered under the International Offering have been slightly
+over-subscribed, representing approximately 1.33 times of the total number of Offer Shares
+initially available under the International Offering. The final number of International Offer Shares
+under the International Offering is 61,922,000 Offer Shares, representing approximately 90% of
+the total number of Offer Shares initially available under the Global Offering (before any exercise
+of the Over-allotment Option).
+There has been an over-allocation of 10,320,400 Offer Shares and there are a total of 119 placees
+under the International Offering, among which 41 placees, representing approximately 34.45% of
+the total number of placees under the International Offering, have been allotted one board lot of
+Offer Shares, totaling 16,400 Offer Shares, representing approximately 0.03% of the total number
+of Offer Shares available under the International Offering (before any exercise of the Over-
+allotment Option).
+
+
+--- page 11 ---
+13
+CORNERSTONE INVESTORS
+Based on the Offer Price of HK$5.98 per H Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
+fee of 0.00565%) and pursuant to the Cornerstone Investment Agreements entered into with the
+Cornerstone Investors as disclosed in the section headed “Cornerstone Investors ” in the Prospectus,
+the number of Offer Shares subscribed for by the Cornerstone Investors is set out below:
+Assuming the Over-Allotment
+Option is not exercised
+Assuming the Over-Allotment
+Option is fully exercised
+Cornerstone Investor
+Investment
+amount (1)
+Hong Kong
+dollar
+equivalent (1)
+(approximate)
+Number
+of Offer
+Shares (2)
+Approximate
+% of the
+Offer Shares
+Approximate
+% of the
+issued share
+capital (3)
+Approximate
+% of the
+Offer Shares
+Approximate
+% of the
+issued share
+capital (3)
+Hengshun Group
+ Hengshun Vinegar USD6.5 million 50.8 million 8,498,800 12.35 0.31 10.74 0.31
+ Profit Joy USD3.5 million 27.4 million 4,576,400 6.65 0.17 5.78 0.17
+Jinding Capital USD10.0 million 78.2 million 13,075,200 19.00 0.48 16.53 0.48
+COFCO Capital Fund USD8.3 million 64.9 million 10,852,400 15.77 0.40 13.72 0.39
+Total USD28.3 million 221.3 million 37,002,800 53.78 1.35 46.77 1.35
+Note:
+(1) The total investment amount excludes brokerage, SFC transaction levy, AFRC transaction levy and the
+Stock Exchange trading fee and is calculated based on the exchange rates as described in the section headed
+“Information about this Prospectus and the Global Offering { Currency Translations ” of the Prospectus.
+(2) Subject to rounding down to the nearest whole board lot of 400 H Shares. Calculated based on the exchange
+rate set out in the section headed “Information about this Prospectus and the Global Offering { Currency
+Translations ” of the Prospectus.
+(3) Immediately following the completion of the Global Offering.
+(4) Any discrepancies in the table above between the total shown and the sum of the amounts listed are due to
+rounding.
+The Cornerstone Placing forms part of the International Offering, and the Cornerstone Investors
+will not acquire any Offer Shares under the Global Offering (other than pursuant to the Cornerstone
+Investment Agreements). The Offer Shares to be subscribed by the Cornerstone Investors will
+rank pari passu in all respects with the fully paid Shares in issue and will be counted towards the
+public float of our Company for the purpose of Rule 8.08 of the Listing Rules. The three largest
+public Shareholders will not hold more than 50% of the shares held in public hands at the time
+of the Listing in compliance with Rule 8.08(3) and Rule 8.24 of the Listing Rules. Other than a
+guaranteed allocation of the relevant Offer Shares at the Offer Price, the Cornerstone Investors do
+not have any preferential rights in the Cornerstone Investment Agreements compared with other
+public Shareholders.
+
+
+--- page 12 ---
+14
+Immediately following the completion of the Global Offering, the Cornerstone Investors will not
+become a substantial Shareholder or connected person (as defined in the Listing Rules) of our
+Company and will not have any Board representation in our Company. To the best knowledge
+of our Company, each of Cornerstone Investors (i) is an Independent Third Party and is not our
+connected person (as defined under the Listing Rules), (ii) is independent of other Cornerstone
+Investors (save for the fact that both of Hengshun Vinegar and Profit Joy are controlled by
+Hengshun Group), (iii) is not directly or indirectly financed by our Company, our subsidiaries, our
+Directors, Supervisors, chief executive, our Controlling Shareholders, substantial Shareholders,
+existing Shareholders or any of their respective close associates, and (iv) is not accustomed
+to taking instructions from our Company, our subsidiaries, our Directors, Supervisors, chief
+executive, our Controlling Shareholders, substantial Shareholders, existing Shareholders or any of
+their respective close associates in relation to the acquisition, disposal, voting or other disposition
+of the Shares registered in their name or otherwise held by them. There are no side agreements or
+arrangements between us and the Cornerstone Investors or any benefit, direct or indirect, conferred
+on the Cornerstone Investors by virtue of or in relation to the Cornerstone Placing, other than a
+guaranteed allocation of the relevant Offer Shares at the Offer Price.
+As confirmed by each Cornerstone Investor, its subscription under the Cornerstone Placing
+would be financed by its own internal financial resources or the financial resources of its parent
+company or the funds under its management. Each of the Cornerstone Investors has confirmed
+that all necessary approvals have been obtained with respect to the Cornerstone Placing. Save for
+Hengshun Vinegar, a company listed on the Shanghai Stock Exchange which has obtained the
+approval from its board of directors, none of the Cornerstone Investors or their holding companies
+is listed on any stock exchange, and each of the Cornerstone Investors has confirmed that no
+specific approval from any stock exchange (if relevant) or its shareholders is required for the
+relevant cornerstone investment.
+Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at
+any time during the period of six (6) months following the Listing Date (the “Lock-up Period ”),
+dispose of any of the Offer Shares they have purchased pursuant to the relevant Cornerstone
+Investment Agreement, save for certain limited circumstances, such as transfers to any of its
+wholly-owned subsidiaries who will be bound by the same obligations of such Cornerstone
+Investor, including the Lock-up Period restriction.
+Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further details of
+the Cornerstone Investors.
+
+
+--- page 13 ---
+15
+CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
+OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
+The Company has applied to the Hong Kong Stock Exchange for, and the Hong Kong Stock
+Exchange has granted, a waiver from strict compliance with Rule 10.04 of the Listing Rules and
+its consent under paragraph 5(2) of the Placing Guidelines to permit the Company to allocate H
+Shares under the International Offering to the Anti-Diluting Shareholders and Minority Existing
+Shareholders and/or their respective close associates. To the best knowledge of the Company, no
+Offer Shares have been placed to the Anti-Diluting Shareholders, Minority Existing Shareholders
+or their respective close associates in the International Offering.
+To the best knowledge, information and belief of the Directors, no Offer Shares placed by or
+through the Overall Coordinators or the Underwriters/distributors under the Global Offering have
+been placed to applicants who are core connected persons (as defined in the Listing Rules) or
+Directors, or to any connected clients (as set out in paragraph 5(1) of the Placing Guidelines), nor
+to any existing Shareholder and its close associates (as set out in paragraph 5(2) of the Placing
+Guidelines) whether in their own names or through nominees.
+To the best knowledge of the Company, none of the Offer Shares subscribed for by the placees
+and the public has been financed directly or indirectly by any of the Directors, Supervisors,
+chief executive, Controlling Shareholders, substantial Shareholders, existing Shareholders of the
+Company or any of their subsidiaries or any of their respective close associates, and none of the
+placees and the public who has subscribed for Offer Shares is accustomed to taking instructions
+from any of the Directors, Supervisors, chief executive, Controlling Shareholders, substantial
+Shareholders, existing Shareholders of the Company or any of their subsidiaries or any of 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, and the International Offering
+is in compliance with the Placing Guidelines.
+OVER-ALLOTMENT OPTION
+In connection with the Global Offering, the Company has granted the Over-allotment Option to the
+International Underwriters, exercisable by the Overall Coordinator (for themselves and on behalf
+of the International Underwriters), at any time from the Listing Date to Saturday, November 25,
+2023, being the 30th day after the last day for lodging applications under the Hong Kong Public
+Offering, to require the Company to issue and allot up to an aggregate of 10,320,400 additional
+Offer Shares, representing not more than approximately 15.0% of the total number of Offer Shares
+initially available under the Global Offering, at the Offer Price to cover the over-allocations in the
+International Offering.
+There has been an over-allocation of 10,320,400 Offer Shares in the International Offering. Such
+over-allocation may be covered by exercising the Over-allotment Option in part or by making
+purchases in the secondary market or a combination of these means. In the event the Over-
+allotment Option is exercised, an announcement will be made on the Stock Exchange ’s website
+at www.hkexnews.hk and the Company ’s website at www.zzgqsh.com . As of the date of this
+announcement, the Over-allotment Option has not been exercised.
+
+
+--- page 14 ---
+16
+LOCK-UP UNDERTAKINGS
+Each of the Company, the Warranting Shareholders, the other Controlling Shareholders, the other
+existing Shareholders and the Cornerstone Investors has given certain lock-up undertakings in
+relation to the issue and disposal of Shares (the “Lock-up Undertakings ”). The major terms of the
+Lock-up Undertakings are set out as follows:
+Name
+Number of
+Shares subject
+to the Lock-up
+Undertakings
+upon Listing
+Approximate
+percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing (3)
+Last day subject to the
+Lock-up Undertakings
+The Company
+(subject to lock-up obligations pursuant to
+the Listing Rules and the Hong Kong
+Underwriting Agreement)
+N/A N/A May 1, 2024 (1)
+Warranting Shareholders
+(subject to lock-up obligations pursuant to
+the Listing Rules, the Hong Kong
+Underwriting Agreement and applicable
+PRC laws and regulations)
+Yang Mingchao, Meng Xianjin,
+ Li Xinhua and Guoquan Industry 881,420,916 32.18% November 1, 2024 (2)
+Other Controlling Shareholders
+(subject to lock-up obligations pursuant to
+the Listing Rules, the applicable
+PRC laws and regulations)
+Guoxiaoquan EM 331,595,457 12.11% November 1, 2024 (2)
+Guoxiaoquan Tech 85,587,242 3.12% November 1, 2024 (2)
+Other existing Shareholders (4)
+(subject to lock-up obligations pursuant to
+applicable PRC laws and regulations)
+1,371,396,385 50.08% November 1, 2024 (2)
+Cornerstone Investors
+(subject to lock-up obligations pursuant to
+the Cornerstone Investment Agreements)
+Hengshun Group
+ Hengshun Vinegar 8,498,800 0.31% May 1, 2024 (2)
+ Profit Joy 4,576,400 0.17% May 1, 2024 (2)
+Jinding Capital 13,075,200 0.48% May 1, 2024 (2)
+COFCO Capital Fund 10,852,400 0.40% May 1, 2024 (2)
+Total 2,707,002,800 98.84%
+
+
+--- page 15 ---
+17
+Notes:
+(1) The Company may not allot or issue Shares prior to the indicated date except otherwise permitted by the Listing
+Rules and the Stock Exchange.
+(2) The Shareholder(s) and Cornerstone Investor(s) may dispose of or transfer Shares without any lock-up
+obligation after the indicated date.
+(3) Assuming the Over-allotment Option is not exercised.
+(4) For identities and details of other existing Shareholders, see the section headed “History, Development and
+Corporate Structure ” in the Prospectus.
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the section headed “Structure of the Global
+Offering – Conditions of the Global Offering ” in the Prospectus, 6,404 valid applications made
+by the public through the White Form eIPO service and the CCASS EIPO service 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
+400 3,977 756 out of 3,977 to receive 400 Shares 19.01%
+800 507 191 out of 507 to receive 400 Shares 18.84%
+1,200 634 356 out of 634 to receive 400 Shares 18.72%
+1,600 126 94 out of 126 to receive 400 Shares 18.65%
+2,000 241 224 out of 241 to receive 400 Shares 18.59%
+2,400 52 400 Shares plus 6 out of 52 to receive additional 400 Shares 18.59%
+2,800 27 400 Shares plus 8 out of 27 to receive additional 400 Shares 18.52%
+3,200 50 400 Shares plus 24 out of 50 to receive additional 400 Shares 18.50%
+3,600 18 400 Shares plus 11 out of 18 to receive additional 400 Shares 17.90%
+4,000 124 400 Shares plus 97 out of 124 to receive additional 400 Shares 17.82%
+6,000 52 800 Shares plus 34 out of 52 to receive additional 400 Shares 17.69%
+8,000 286 1,200 Shares plus 149 out of 286 to receive additional 400 Shares 17.60%
+10,000 41 1,600 Shares plus 16 out of 41 to receive additional 400 Shares 17.56%
+12,000 19 2,000 Shares plus 5 out of 19 to receive additional 400 Shares 17.54%
+14,000 10 2,400 Shares plus 1 out of 10 to receive additional 400 Shares 17.43%
+16,000 57 2,400 Shares plus 53 out of 57 to receive additional 400 Shares 17.32%
+18,000 39 2,800 Shares plus 31 out of 39 to receive additional 400 Shares 17.32%
+20,000 37 3,200 Shares plus 24 out of 37 to receive additional 400 Shares 17.30%
+30,000 42 4,800 Shares plus 40 out of 42 to receive additional 400 Shares 17.27%
+40,000 11 6,800 Shares plus 3 out of 11 to receive additional 400 Shares 17.27%
+50,000 6 8,400 Shares plus 3 out of 6 to receive additional 400 Shares 17.20%
+60,000 4 10,000 Shares plus 3 out of 4 to receive additional 400 Shares 17.17%
+
+
+--- page 16 ---
+18
+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
+70,000 6 11,600 Shares plus 5 out of 6 to receive additional 400 Shares 17.05%
+80,000 2 13,600 Shares 17.00%
+100,000 8 16,800 Shares plus 4 out of 8 to receive additional 400 Shares 17.00%
+120,000 3 20,400 Shares 17.00%
+160,000 4 26,800 Shares plus 3 out of 4 to receive additional 400 Shares 16.94%
+180,000 1 30,400 Shares 16.89%
+200,000 3 33,200 Shares plus 2 out of 3 to receive additional 400 Shares 16.73%
+300,000 6 50,000 Shares plus 2 out of 6 to receive additional 400 Shares 16.71%
+400,000 1 66,800 Shares 16.70%
+600,000 2 100,000 Shares plus 1 out of 2 to receive additional 400 Shares 16.70%
+800,000 1 133,600 Shares 16.70%
+6,397 Total number of Pool A successful applicants: 2,533
+POOL B
+NO. OF SHARES
+APPLIED FOR
+NO. OF VALID
+APPLICATIONS BASIS OF ALLOTMENT/BALLOT
+APPROXIMATE
+PERCENTAGE
+ALLOTTED OF
+THE TOTAL
+NO. OF SHARES
+APPLIED FOR
+900,000 4 304,000 Shares 33.78%
+1,000,000 1 337,200 Shares 33.72%
+2,800,000 2 943,600 Shares 33.70%
+7 Total number of Pool B successful applicants: 7
+The final number of Hong Kong Offer Shares under the Hong Kong Public Offering is 6,880,800
+Offer Shares, representing approximately 10% of the total number of Offer Shares initially
+available under the Global Offering (before any exercise of the Over-allotment Option).
+
+
+--- page 17 ---
+19
+RESULTS OF ALLOCATIONS
+The Company expects to announce the level of indications of interest in the International Offering,
+the level of applications in the Hong Kong Public Offering and the basis of allocations of the Hong
+Kong Offer Shares on Wednesday, November 1, 2023 on its website at www.zzgqsh.com and the
+website of Stock Exchange at www.hkexnews.hk .
+The results of allocations and the Hong Kong identity card/passport/Hong Kong business
+registration numbers of successful applicants under the Hong Kong Public Offering will be
+available at the times and dates and in the manner set out below:
+• in the announcement to be posted on the Company ’s website and the website of Stock
+Exchange at www.zzgqsh.com and www.hkexnews.hk , respectively, by no later than 9:00
+a.m. on Wednesday, November 1, 2023;
+• from the designated results of allocations website at www.iporesults.com.hk (alternatively:
+English https://www.eipo.com.hk/en/Allotment; Chinese https://www.eipo.com.hk/zh-hk/Allotment)
+with a “search by ID ” function on a 24 hour basis from 8:00 a.m. on Wednesday, November
+1, 2023 to 12:00 midnight on Tuesday, November 7, 2023; and
+• from the allocation results telephone enquiry line by calling +852 2862 8555 between 9:00
+a.m. and 6:00 p.m. from Wednesday, November 1, 2023 to Monday, November 6, 2023 on a
+business day (excluding Saturday, Sunday and public holidays).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ” in this
+announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong business
+registration numbers/certificate of incorporation numbers/beneficial owner identification codes (if
+such applications are made by nominees as agent for the benefit of another person), whereas those
+displayed in the section headed “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS Participants
+via CCASS. Therefore, the identification document numbers shown in the two sections are
+different in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by White
+Form eIPO ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 18 ---
+20
+A summary of allotment results under the International Offering is set out below:
+Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee Subscription
+Number of H
+Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Subscription
+as % of
+International
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised in
+full)
+Subscription
+as % of total
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Subscription
+as % of total
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised in
+full)
+Number of
+H Shares as
+% of total
+H Shares
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Number of
+H Shares as
+% of total
+H Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised in
+full)
+Number of
+Shares as
+% of total
+Shares upon
+Listing
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Number of
+Shares as
+% of total
+Shares upon
+Listing
+(assuming
+the Over-
+allotment
+Option is
+exercised in
+full)
+Top 1 13,075,200 13,075,200 13,075,200 21.12% 18.10% 19.00% 16.53% 0.73% 0.73% 0.48% 0.48%
+Top 5 55,946,400 55,946,400 55,946,400 90.35% 77.44% 81.31% 70.71% 3.13% 3.11% 2.04% 2.04%
+Top 10 70,466,800 70,466,800 70,466,800 113.80% 97.54% 102.42% 89.06% 3.94% 3.92% 2.57% 2.56%
+Top 20 72,115,600 72,115,600 72,115,600 116.46% 99.82% 104.81% 91.14% 4.03% 4.01% 2.63% 2.62%
+Top 25 72,127,600 72,127,600 72,127,600 116.48% 99.84% 104.83% 91.16% 4.03% 4.01% 2.63% 2.62%
+Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Shareholder Subscription
+Number of H
+Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Subscription
+as % of
+International
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised in
+full)
+Subscription
+as % of total
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Subscription
+as % of total
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised in
+full)
+Number of
+H Shares as
+% of total
+H Shares
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Number of
+H Shares as
+% of total
+H Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised in
+full)
+Number of
+Shares as
+% of total
+Shares upon
+Listing
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Number of
+Shares as
+% of total
+Shares upon
+Listing
+(assuming
+the Over-
+allotment
+Option is
+exercised in
+full)
+Top 1 – 417,182,699 1,298,603,615 0.00% 0.00% 0.00% 0.00% 23.31% 23.18% 47.42% 47.24%
+Top 5 – 1,167,434,122 2,105,382,470 0.00% 0.00% 0.00% 0.00% 65.24% 64.86% 76.87% 76.58%
+Top 10 – 1,583,056,876 2,521,005,224 0.00% 0.00% 0.00% 0.00% 88.46% 87.96% 92.05% 91.70%
+Top 20 37,002,800 1,757,534,516 2,706,836,440 59.76% 51.22% 53.78% 46.77% 98.21% 97.65% 98.83% 98.46%
+Top 25 68,332,400 1,788,864,116 2,738,166,040 110.35% 94.59% 99.32% 86.36% 99.96% 99.39% 99.98% 99.60%
+
+
+--- page 19 ---
+21
+Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company upon Listing:
+H Shareholder Subscription
+Number of H
+Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Subscription
+as % of
+International
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised in
+full)
+Subscription
+as % of total
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Subscription
+as % of total
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised in
+full)
+Number of
+H Shares as
+% of total
+H Shares
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Number of
+H Shares as
+% of total
+H Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised in
+full)
+Number of
+Shares as
+% of total
+Shares upon
+Listing
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Number of
+Shares as
+% of total
+Shares upon
+Listing
+(assuming
+the Over-
+allotment
+Option is
+exercised in
+full)
+Top 1 – 417,182,699 1,298,603,615 0.00% 0.00% 0.00% 0.00% 23.31% 23.18% 47.42% 47.24%
+Top 5 – 1,202,725,825 2,084,146,741 0.00% 0.00% 0.00% 0.00% 67.21% 66.82% 76.10% 75.81%
+Top 10 – 1,583,056,876 2,521,005,224 0.00% 0.00% 0.00% 0.00% 88.46% 87.96% 92.05% 91.70%
+Top 20 46,816,400 1,767,348,116 2,705,296,464 75.61% 64.80% 68.04% 59.17% 98.76% 98.20% 98.78% 98.41%
+Top 25 69,636,400 1,790,168,116 2,728,116,464 112.46% 96.39% 101.21% 88.01% 100.04% 99.46% 99.61% 99.24%
diff --git a/data/extracted_text/02520/allotment_results_summary_2023-11-21_2023112100016.txt b/data/extracted_text/02520/allotment_results_summary_2023-11-21_2023112100016.txt
new file mode 100644
index 0000000..6234242
--- /dev/null
+++ b/data/extracted_text/02520/allotment_results_summary_2023-11-21_2023112100016.txt
@@ -0,0 +1,1001 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE
+AND ALLOTMENT RESULT
+SUMMARY
+Offer Price
+• The Offer Price has been determined at HK$2.18 per Offer Share (exclusive of brokerage
+of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and
+AFRC transaction levy of 0.00015%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$2.18 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and other estimated expenses payable by the Company in connection with
+the Global Offering, are estimated to be approximately HK$654.0 million. The Company
+intends to use the net proceeds from the Global Offering in the manner as set out in the
+paragraph headed “Net Proceeds from the Global Offering ” in this announcement.
+• If the Over-allotment Option is exercised in full, the Company will receive additional
+net proceeds of approximately HK$105.2 million for 50,000,000 additional Offer Shares
+to be issued and allotted upon the exercise of the Over-allotment Option. Any additional
+proceeds received from the exercise of the Over-allotment Option will be allocated to
+satisfy the additional capital expenditure needs of the Company as appropriate.
+Applications and Indications of Interest Received in the Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been undersubscribed. A total of 1,508 valid applications have been received pursuant to
+the Hong Kong Public Offering through the White Form eIPO service and through the
+CCASS EIPO service for a total of 20,046,000 Hong Kong Offer Shares, representing
+approximately 0.60 times of the total number of 33,334,000 H Shares initially available for
+subscription under the Hong Kong Public Offering.
+• Due to the undersubscription in the Hong Kong Public Offering, the reallocation procedures
+as described in the section headed ‘‘Structure of the Global Offering { Hong Kong
+Public Offering { Reallocation ’’ in the Prospectus have been applied and the number of
+unsubscribed Offer Shares under the Hong Kong Public Offering have been reallocated
+to the International Offering. As a result of such reallocation, the final number of Offer
+Shares allocated to the Hong Kong Public Offering has been reduced to 20,046,000 Offer
+Shares, representing approximately 60.14% of the total number of Offer Shares initially
+available under the Hong Kong Public Offering and 6.01% of the total number of Offer
+Shares initially available under the Global Offering.
+
+
+--- page 2 ---
+4
+International Offering
+• The H Shares initially offered under the International Offering have been moderately
+over-subscribed, representing approximately 1.33 times of the total number of H Shares
+initially available under the International Offering. The final number of H Shares under the
+International Offering is 313,288,000 H Shares, representing approximately 93.99% of the
+total number of H Shares initially available under the Global Offering.
+• There has been an over-allocation of 50,000,000 Offer Shares and there are a total of
+114 placees under the International Offering, among which 41 placees, representing
+approximately 36.0% of 114 placees under the International Offering, have been allotted
+one board lot of Offer Shares totalling 82,000 H Shares, representing approximately 0.03%
+of the Offer Shares initially available under the International Offering (assuming the Over-
+allotment Option is not exercised).
+Cornerstone Investor
+• Based on the Offer Price of HK$2.18 per Offer Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%), pursuant to the Cornerstone Investment Agreement, the
+Cornerstone Investor has subscribed for a total of 72,018,000 H Shares, representing in
+aggregate (a) approximately 5.40% of the issued share capital of the Company immediately
+upon completion of the Global Offering and (b) approximately 21.61% of the number of
+Offer Shares under the Global Offering. Please refer to the section headed “Cornerstone
+Investor ” in the Prospectus for further details of the Cornerstone Investor.
+Connected Client Placee with Consent under Paragraph 5(1) of the Placing Guidelines
+Under the International Offering, a total of 15,274,000 Offer Shares, representing approximately
+4.58% of the Offer Shares initially available under the Global Offering, were placed to
+a connected client of one of the Overall Coordinators within the meaning of the Placing
+Guidelines. Details are set out below:
+
+
+--- page 3 ---
+5
+Placee Overall
+Coordinator
+Relationship
+with the Overall
+Coordinator
+Number of Offer
+Shares placed
+Approximate
+percentage of the
+Offer Shares
+initially available
+under the Global
+Offering (1)(2)
+Approximate
+percentage of the
+total issued shares
+immediately
+following the
+completion of the
+Global Offering (1)(2)
+Connected client holding beneficial interests in the Offer Shares on a non-discretionary basis:
+Huatai Capital
+ Investment
+ Limited
+ ( “HTCI”)
+Huatai Financial
+ Holdings
+ (Hong Kong)
+ Limited
+ ( “HTFH”)
+HTFH and HTCI
+ are fellow
+ subsidiaries of
+ Huatai Securities
+ Co., Ltd.
+ ( “Huatai Securities ”)
+15,274,000 4.58% 1.15%
+Notes:
+(1) Assuming the Over-allotment Option is not exercised.
+(2) The percentage figures are subject to round adjustments.
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to
+the Company, consent under paragraph 5(1) of the Placing Guidelines to permit the Company to
+allocate Offer Shares in the International Offering to the above placee. The Offer Shares placed
+to the connected client is held by the connected client on behalf of Independent Third Parties and
+are in compliance with all the conditions under the consent granted by the Stock Exchange.
+Over-allotment Option
+In connection with the Global Offering, the Company has granted the Over-allotment Option to
+the International Underwriters, exercisable by the Overall Coordinators (for themselves and on
+behalf of the International Underwriters), at any time from the Listing Date to Friday, December
+15, 2023, being the 30th day after the last day for lodging applications under the Hong Kong
+Public Offering, to require the Company to allot and issue up to an aggregate of 50,000,000
+additional Offer Shares, representing approximately 15% of the total number of Offer Shares
+initially available under the Global Offering, at the Offer Price to cover the over-allocations in the
+International Offering, if any. There has been an over-allocation of 50,000,000 Offer Shares in
+the International Offering. Such over-allocation may be covered by exercising the Over-allotment
+Option in full or in part or by making purchases in the secondary market or a combination of
+these means. In the event the Over-allotment Option is exercised, an announcement will be
+made on the Stock Exchange ’s website at www.hkexnews.hk and the Company ’s website at
+www.sxaz.com.cn . As of the date of this announcement, the Over-allotment Option has not been
+exercised.
+
+
+--- page 4 ---
+6
+Confirmations of Cornerstone Investor, public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering
+• To the best of the knowledge, information and belief of our Company, (i) the Cornerstone
+Investor is independent of the Company, its connected persons and their respective
+associates; (ii) the Cornerstone Investor is not accustomed to take and has not taken
+instructions from our Company, our subsidiaries, the Directors, Supervisors, chief
+executive, Controlling Shareholder, substantial Shareholder or existing Shareholders of the
+Company or any of their respective close associates in relation to the acquisition, disposal,
+voting or other disposition of the Offer Shares; and (iii) the subscription of the Offer
+Shares by the Cornerstone Investor is not financed by our Company, our subsidiaries, the
+Directors, Supervisors, chief executive, Controlling Shareholder, substantial Shareholder or
+existing Shareholders of the Company or any of their respective close associates.
+• To the best knowledge of the Company, (i) none of the Offer Shares subscribed by public
+Shareholders in the Hong Kong Public Offering and placees in the International Offering
+has been directly or indirectly financed by the Company, the Directors, Supervisors, chief
+executive, the Controlling Shareholder, substantial Shareholder or existing Shareholders
+of the Company or any of their subsidiaries or their respective close associates; (ii)
+none of the public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering who has subscribed for the Offer Shares is accustomed to taking
+instructions from the Company, the Directors, Supervisors, chief executive, the Controlling
+Shareholder, substantial Shareholder or existing Shareholders of the Company or any of
+their subsidiaries or their respective close associates in relation to the acquisition, disposal,
+voting or other disposition of the H Shares registered in their name or otherwise held
+by them; (iii) there is no side agreement or arrangement between the Company, any of
+the Directors, the Supervisors, chief executive, the Controlling Shareholder, substantial
+Shareholder or existing Shareholders of the Company or any of its subsidiaries or their
+respective close associates, on one hand, and the public subscribers or the placee who has
+subscribed for the Offer Shares, on the other hand; (iv) no rebate has been, directly or
+indirectly, provided by the Company, the Directors, the Supervisors, chief executive, the
+Controlling Shareholder, substantial Shareholder or existing Shareholders of the Company
+or any of their subsidiaries or their respective close associates or syndicate members or
+any other brokers or underwriters to any public Shareholders in the Hong Kong Public
+Offering or placees in the International Offering; and (v) the consideration payable by the
+public Shareholders in the Hong Kong Public Offering and placees in the International
+Offering for each Share subscribed for or purchased by them is the same as the final Offer
+Price as determined by the Company, in additional to brokerage of 1.0%, SFC transaction
+levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy of
+0.00015%.
+• The Directors confirm that, no placees will, individually, be placed more than 10% of the
+enlarged issued share capital of the Company immediately after the Global Offering.
+
+
+--- page 5 ---
+7
+Lock-up Obligations
+The Company, the Controlling Shareholder and the Cornerstone Investor are subject to lock-up
+obligations in respect of the Shares as set out in the paragraph headed “Lock-up Obligations ” in
+this announcement.
+Public Float
+The Directors confirm that (a) no placee will, individually, be placed more than 10% of the
+enlarged issued share capital of the Company immediately after the Global Offering; (b) there
+will not be any new substantial shareholder (as defined in the Listing Rules) of the Company
+immediately after the Global Offering; (c) the number of H Shares in public hands will satisfy
+the minimum percentage as approved by the Stock Exchange; (d) the three largest public
+shareholders of the Company do not hold more than 50% of the H Shares in public hands at the
+time of Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules; and (e) there will
+be at least 300 Shareholders at the time of Listing in compliance with Rule 8.08(2) of the Listing
+Rules.
+Results of Allocation
+The final Offer Price, results of applications in the Hong Kong Public Offering, the level of
+indications of interests in the International Offering, the level of applications in the Hong Kong
+Public Offering and the basis of allocation of the Hong Kong Offer Shares will be published on
+Tuesday, November 21, 2023, on the websites of the Company at www.sxaz.com.cn and the
+Stock Exchange at www.hkexnews.hk .
+
+
+--- page 6 ---
+8
+The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the White Form eIPO service or through the CCASS EIPO
+service, including the Hong Kong identity card numbers, passport numbers or Hong Kong
+business registration numbers, certificate of incorporation numbers of successful applicants
+(where applicable) and the number of Hong Kong Offer Shares successfully applied for, will be
+made available at the times and dates and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.sxaz.com.cn and the
+Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on Tuesday,
+November 21, 2023;
+• from the designated results of allocations website at www.iporesults.com.hk (alternatively: English
+https://www.eipo.com.hk/en/Allotment; Chinese https://www.eipo.com.hk/zh-hk/Allotment )
+with a “search by ID” function on a 24-hour basis from 8:00 a.m. on Tuesday, November 21, 2023
+to 12:00 midnight, on Monday, November 27, 2023;
+• by telephone enquiry line by calling +852 2862 8555 between 9:00 a.m. and 6:00 p.m. from
+Tuesday, November 21, 2023 to Friday, November 24, 2023 (excluding Saturday, Sunday
+and public holiday in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ”
+in this announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner identification
+codes (if such applications are made by nominees as agent for the benefit of another person)
+whereas those displayed in the section headed “Results of Applications Made by Giving
+Electronic Application Instructions to HKSCC via CCASS ” in this announcement are provided
+by CCASS Participants via CCASS. Therefore, the identification document numbers shown in
+the two sections are different in nature.
+Please note that the list of identification document numbers set out in this announcement may not
+be a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants or via White Form eIPO
+service are disclosed. Applicants with beneficial names only but not identification document
+numbers are not disclosed due to personal privacy issue as elaborated below. Applicants who
+applied for the Hong Kong Offer Shares through their brokers or nominees can consult their
+brokers or nominees to enquire about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by White
+Form eIPO ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 7 ---
+9
+Dispatch/Collection of H Share Certificates/e-Refund Payment Instructions/Refund Checks
+• Applicants who applied for 1,000,000 Hong Kong Offer Shares or more through the White
+Form eIPO service and who have been successfully or partially successfully allocated
+Hong Kong Offer Shares may collect refund cheque(s) and/or H Share certificate(s) (where
+applicable) from the H Share Registrar, Computershare Hong Kong Investor Services Limited,
+at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen ’s Road East, Wan Chai, Hong
+Kong from 9:00 a.m. to 1:00 p.m. on Tuesday, November 21, 2023, or any other place or
+date the Company may notify.
+• Applicants being individuals who are eligible for personal collection cannot authorize any
+other person to make collection on their behalf. Corporate applicants which are eligible
+for personal collection must attend by their authorised representatives bearing letters
+of authorisation from their corporations stamped with the corporations ’ chops. Both
+individuals and authorised representatives (if applicable) must produce, at the time of
+collection, evidence of identity acceptable to the H Share Registrar.
+• H Share certificates for Hong Kong Offer Shares allocated to applicants who applied
+through the White Form eIPO service which are either not available for personal
+collection or which are available but are not collected in person within the time specified
+for collection are expected to be dispatched by ordinary post to those entitled to them at
+their own risk on or before Tuesday, November 21, 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their H Share certificates issued in the
+name of HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participant stock accounts who gave electronic application instructions on their behalf on
+Tuesday, November 21, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allotted to them
+with that CCASS Participant.
+• Applicants who applied through the White Form eIPO service and paid the application
+monies from a single bank account will have refund monies (if any) dispatched to their
+application payment accounts in the form of e-Refund payment instructions on Tuesday,
+November 21, 2023. Applicants who applied through the White Form eIPO service and
+paid the application monies from multiple bank accounts will have refund monies (if any)
+dispatched to the addresses specified on their White Form eIPO applications in the form
+of refund check(s) in favour of the applicant (or, in the case of joint applications, the first-
+named applicant) by ordinary post at their own risk on or before Tuesday, November 21,
+2023.
+• Refund monies for applicants who have applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their brokers or custodians on
+Tuesday, November 21, 2023.
+
+
+--- page 8 ---
+10
+• H Share certificates will only become valid evidence of title at 8:00 a.m. on Wednesday,
+November 22, 2023, 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.
+• No temporary document of title will be issued in respect of the H Shares. No receipt will
+be issued for sums paid on application.
+Commencement of Dealings
+• H Share certificates for the Hong Kong Offer Shares will only become valid evidence of
+title provided that the Global Offering has become unconditional in all respects and neither
+of the Underwriting Agreements has been terminated in accordance with its terms, which
+is scheduled to be at around 8:00 a.m. on Wednesday, November 22, 2023. Investors who
+trade H Shares on the basis of publicly available allocation details before the receipt of the
+H Share certificates and before they become valid do so entirely of their own risk.
+• Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. on
+Wednesday, November 22, 2023 (Hong Kong time), it is expected that dealings in the
+H Shares on the Stock Exchange will commence at 9:00 a.m. on Wednesday, November
+22, 2023 (Hong Kong time). The H Shares will be traded on the Main Board of the Stock
+Exchange in board lots of 2,000 H Shares each. The stock code of the H Shares will be
+2520.
+In view of the high concentration of shareholding in a small number of H Shareholders,
+H Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of H Shares traded, and should exercise
+extreme caution when dealing in H Shares.
+OFFER PRICE
+The Offer Price has been determined at HK$2.18 per H Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction
+levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$2.18 per H Share, the net proceeds from the Global Offering to
+be received by the Company, after deduction of underwriting fees and commissions and other
+estimated expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$654.0 million.
+
+
+--- page 9 ---
+11
+The Company intends to apply the net proceeds as follows:
+– approximately 50% or HK$327.0 million, to be used for financing new energy projects. To
+implement the development strategy of “investment diversification and the integration of
+investment, construction and operation ”, we intend to apply the proceeds allocated hereunder
+for equity investments for new energy project. We intend to cooperate with other private
+entities in investing in and building privately-owned facilities and generate profit through the
+operation of such facilities;
+– approximately 32% or HK$209.3 million, to be used for financing our equity investment
+commitment under current and future PPP projects and construction projects of the Company
+such as clean heating, distributed energy, solid waste disposal and water treatment;
+– approximately 10% or HK$65.4 million, to be used for financing new energy projects
+of upstream and downstream manufacturing industries, including: (i) approximately 5%
+or HK$32.7 million to be used for the Group ’s heavy-steel structure plant base; and (ii)
+approximately 5% or HK$32.7 million to be used for financing our future equity investment
+in other upstream and downstream manufacturing industries, for example, equity investment
+in industrial park with production line for construction equipments; and
+– approximately 8% or HK$52.3 million, to be used for working capital and general corporate
+purposes.
+If the Over-allotment Option is exercised in full, the Company will receive additional net proceeds
+of approximately HK$105.2 million for 50,000,000 additional Offer Shares to be issued and
+allotted upon the exercise of the Over-allotment Option. Any additional proceeds received from the
+exercise of the Over-allotment Option will be allocated to satisfy the additional capital expenditure
+needs of the Company as appropriate. For further information, please refer to the section headed
+“Future Plans and Use of Proceeds ” in the Prospectus.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have
+been slightly over-subscribed. At the close of the application lists at 12:00 noon on Wednesday,
+November 15, 2023, a total of 1,508 valid applications have been received pursuant to the Hong
+Kong Public Offering through the White Form eIPO service and through the CCASS EIPO
+service for a total of 20,046,000 Hong Kong Offer Shares, representing approximately 0.60 times
+of the total number of 33,334,000 Offer Shares initially available for subscription under the Hong
+Kong Public Offering, among which:
+• 1,507 valid applications in respect of a total of 15,046,000 Hong Kong Offer Shares
+were for the Hong Kong Public Offering with an aggregate subscription amount based on
+the maximum Offer Price of HK$2.36 per H Share (excluding brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction
+levy of 0.00015%) of HK$5 million or less, representing approximately 0.90 times of the
+16,668,000 Hong Kong Offer Shares initially comprised in Pool A; and
+
+
+--- page 10 ---
+12
+• One valid application in respect of a total of 5,000,000 Hong Kong Offer Shares were for the
+Hong Kong Public Offering with an aggregate subscription amount based on the maximum
+Offer Price of HK$2.36 per Offer Share (excluding brokerage of 1%, SFC transaction levy of
+0.0027%, Stock Exchange trading fee of 0.005% and AFRC transaction levy of 0.00015%) of
+more than HK$5 million, representing approximately 0.3 times of the 16,666,000 Hong Kong
+Offer Shares initially comprised in Pool B.
+No application has been rejected due to dishonored payments. Two multiple or suspected multiple
+applications were identified and rejected. No dishonoured payment has been identified and
+rejected. No application for more than 16,666,000 Hong Kong Offer Shares (being the maximum
+number of Hong Kong Offer Shares an applicant may apply for) has been identified.
+Due to the undersubscription in the Hong Kong Public Offering, the reallocation procedures as
+described in the section headed “Structure of the Global Offering { Hong Kong Public Offering
+– Reallocation ” in the Prospectus have been applied and the number of unsubscribed Offer Shares
+under the Hong Kong Public Offering have been reallocated to the International Offering. As a
+result of such reallocation, the final number of Offer Shares allocated to the Hong Kong Public
+Offering has been reduced to 20,046,000 Offer Shares, representing approximately 60.14% of the
+total number of Offer Shares initially available under the Hong Kong Public Offering and 6.01% of
+the total number of Offer Shares initially available under the Global Offering.
+The H Shares offered in the Hong Kong Public Offering were conditionally allocated on the basis
+set out in the paragraph headed “Basis of Allocation under the Hong Kong Public Offering ” below.
+INTERNATIONAL OFFERING
+The H Shares initially offered under the International Offering have been moderately over-
+subscribed, representing approximately 1.33 times of the total number of H Shares initially
+available under the International Offering. The final number of Offer Shares allocated to the
+placees under the International Offering is 313,288,000 H Shares, representing approximately
+93.99% of the total number of Offer Shares initially available under the Global Offering.
+There has been an over-allocation of 50,000,000 Offer Shares and there are a total of 114 placees
+under the International Offering, among which 41 placees, representing approximately 36.0% of
+114 placees under the International Offering, have been allotted one board lot of Offer Shares
+totalling 82,000 H Shares, representing approximately 0.03% of the Offer Shares initially available
+under the International Offering (assuming the Over-allotment Option is not exercised).
+Cornerstone Investor
+Based on the Offer Price of HK$2.18 per Offer Share (excluding brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy
+of 0.00015%) and pursuant to the Cornerstone Investment Agreement as disclosed in the section
+headed “Cornerstone Investor ” in the Prospectus, the number of Offer Shares subscribed for by the
+Cornerstone Investor are determined as set out below:
+
+
+--- page 11 ---
+13
+Cornerstone Investor
+Total
+Investment
+Amount (1)
+Number of
+Offer Shares
+to be
+acquired (2)
+Approximate
+% of the
+Offer Shares
+Approximate
+% of the
+International
+Offer Shares
+Approximate
+% of our total
+issued share
+capital
+immediately upon
+completion of the
+Global Offering
+(HK$)
+Mingyang Smart Energy 157,000,000 72,018,000
+H Shares
+21.6 23.0 5.4
+Notes:
+(1) The total investment amount exclude brokerage of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange
+trading fee of 0.00565% and AFRC transaction levy of 0.00015%.
+(2) Subject to rounding down to the nearest whole board lot of 2,000 H Shares. The final number of the Offer
+Shares allotted to the Cornerstone Investor was calculated with reference to the actual total investment amount
+in Hong Kong dollars.
+Please refer to the section headed “Cornerstone Investor ” in the Prospectus for further details
+relating to the Cornerstone Investors.
+Connected Client Placee with Consent under Paragraph 5(1) of the Placing Guidelines
+Under the International Offering, a total of 15,274,000 Offer Shares, representing approximately
+4.58% of the Offer Shares initially available under the Global Offering, were placed to a connected
+client of one of the Overall Coordinators within the meaning of the Placing Guidelines. Details are
+set out below:
+Placee
+Overall
+Coordinator
+Relationship
+with the Overall
+Coordinator
+Number of Offer
+Shares placed
+Approximate
+percentage of
+the Offer Shares
+initially available
+under the Global
+Offering (1)(2)
+Approximate
+percentage of
+the total issued
+shares immediately
+following the
+completion of the
+Global Offering (1)(2)
+Connected client holding beneficial interests in the Offer Shares on a non-discretionary basis:
+Huatai Capital
+ Investment
+ Limited
+ ( “HTCI”)
+Huatai Financial
+ Holdings
+ (Hong Kong)
+ Limited
+ ( “HTFH”)
+HTFH and HTCI are
+ fellow subsidiaries
+ of Huatai Securities
+ Co., Ltd.
+ ( “Huatai Securities ”)
+15,274,000 4.58% 1.15%
+
+
+--- page 12 ---
+14
+Notes:
+(1) Assuming the Over-allotment Option is not exercised.
+(2) The percentage figures are subject to round adjustments.
+HTFH and HTCI are fellow subsidiaries of ( “Huatai Securities ”). Huatai Securities entered into
+an ISDA agreement (the “ISDA Agreement ”) with HTCI, its indirectly wholly-owned subsidiary,
+to set out the principal terms of any future total return swap between Huatai Securities and HTCI.
+Pursuant to the ISDA Agreement, HTCI, which intends to participate in the Global Offering as a
+placee, will hold the beneficial interests of the Offer Shares on a non-discretionary basis as the
+single underlying holder under a back-to-back total return swap (the “Huatai Back-to-back TRS ”)
+to be entered by HTCI in connection with a Huatai Client TRS (as defined below) placed by and
+fully funded (i.e. with no financing provided by HTCI) by certain onshore independent third-
+party investors (the “Huatai Ultimate Clients ”), by which, HTCI will pass the full economic
+exposure of the Offer Shares to the Huatai Ultimate Clients, which in effect, HTCI will hold the
+beneficial interests of the Offer Shares on behalf of the Huatai Ultimate Clients. Instead of directly
+subscribing for the Offer Shares, the Huatai Ultimate Clients will place a total return swap order
+(the “Huatai Client TRS ”) with Huatai Securities in connection with the Company ’s IPO and
+Huatai Securities will place a Huatai Back-to-back TRS order to HTCI on the terms of the ISDA
+Agreement. To the best of HTCI ’s knowledge and after making all reasonable enquiries, each of
+the Huatai Ultimate Clients is an independent third party of the Company and their respective
+associates. The purpose of HTCI to subscribe for the Offer Shares is for hedging the Huatai Back-
+to-back TRS in connection with the Huatai Client TRS order placed by the Huatai Ultimate Clients.
+Pursuant to the terms of the contracts of the Huatai Back-to-back TRS and the Huatai Client TRS,
+during the tenor of the Huatai Back-to-back TRS and the Huatai Client TRS, all economic returns
+of the Offer Shares will be passed to the Huatai Ultimate Clients through the Huatai Back-to-
+back TRS and the Huatai Client TRS and all economic loss shall be borne by the Huatai Ultimate
+Clients. HTCI will not take any economic return or bear any economic loss in relation to the
+Offer Shares. The Huatai Ultimate Clients may exercise an early termination right to terminate the
+Huatai Client TRS at any time from the issue date of the Huatai Client TRS which should be on or
+after the date on which the Offer Shares are listed on the Stock Exchange. Upon the termination
+upon maturity or early termination of the Huatai Client TRS by the Huatai Ultimate Clients, HTCI
+will dispose the Offer Shares on the secondary market and the Huatai Ultimate Clients will receive
+a final termination amount of the Huatai Back-to-back TRS which should have taken into account
+all the economic returns or economic loss in relation to the Offer Shares. If upon the maturity of
+the Huatai Client TRS, the Huatai Ultimate Clients intend to extend the investment period, subject
+to further agreement between Huatai Securities and the relevant Huatai Ultimate Clients, the term
+of the Huatai Client TRS could be extended by way of a new issuance or a tenor extension.
+Accordingly, Huatai Securities will extend the term of the Huatai Back-to-back TRS by way of a
+new issuance or a tenor extension. It is proposed that HTCI will hold the legal title and the voting
+right of the Offer Shares by itself, and pass through the economic exposure to the Huatai Ultimate
+Clients, each being an onshore client who places a Huatai Client TRS order with Huatai Securities
+in connection with the IPO of the Company. Due to its internal policy, HTCI will not exercise the
+voting right of the Offer Shares during the tenor of the Huatai Back-to-back TRS.
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to
+the Company, consent under paragraph 5(1) of the Placing Guidelines to permit the Company to
+allocate Offer Shares in the International Offering to the above placee. The Offer Shares placed to
+the connected client is held by the connected client on behalf of Independent Third Parties and are
+in compliance with all the conditions under the consent granted by the Stock Exchange.
+
+
+--- page 13 ---
+15
+CONFIRMATIONS OF CORNERSTONE INVESTORS, PUBLIC SHAREHOLDERS IN
+THE HONG KONG PUBLIC OFFERING AND PLACEES IN THE INTERNATIONAL
+OFFERING
+To the best knowledge of the Company, none of the Cornerstone Investor, public Shareholders in
+the Hong Kong Public Offering and placees in the International Offering is an existing Shareholder
+or a close associate of the existing Shareholders.
+Further, to the best of the knowledge, information and belief of our Company, (i) the Cornerstone
+Investor is independent of the Company, its connected persons and their respective associates;
+(ii) the Cornerstone Investor is not accustomed to take and has not taken instructions from our
+Company, our subsidiaries, the Directors, Supervisors, chief executive, Controlling Shareholder,
+substantial Shareholder or existing Shareholders of the Company or any of their respective close
+associates in relation to the acquisition, disposal, voting or other disposition of the Offer Shares;
+and (iii) the subscription of the Offer Shares by the Cornerstone Investor is not financed by our
+Company, our subsidiaries, the Directors, Supervisors, chief executive, Controlling Shareholder,
+substantial Shareholder or existing Shareholders of the Company or any of their respective close
+associates.
+Furthermore, to the best knowledge of the Company, (i) none of the Offer Shares subscribed by
+public Shareholders in the Hong Kong Public Offering and placees in the International Offering
+has been directly or indirectly financed by the Company, the Directors, Supervisors, chief
+executive, the Controlling Shareholder, substantial Shareholder or existing Shareholders of the
+Company or any of their subsidiaries or their respective close associates; (ii) none of the public
+Shareholders in the Hong Kong Public Offering and placees in the International Offering who
+has subscribed for the Offer Shares is accustomed to taking instructions from the Company, the
+Directors, Supervisors, chief executive, the Controlling Shareholder, substantial Shareholder
+or existing Shareholders of the Company or any of their subsidiaries or their respective close
+associates in relation to the acquisition, disposal, voting or other disposition of the Shares
+registered in their name or otherwise held by them; (iii) there is no side agreement or arrangement
+between the Company, any of the Directors, the Supervisors, the Controlling Shareholder or any of
+its subsidiaries or their respective close associates, on one hand, and the public subscribers or the
+placee who has subscribed for the Offer Shares, on the other hand; (iv) no rebate has been, directly
+or indirectly, provided by the Company, the Directors, the Supervisors, chief executive, the
+Controlling Shareholder, substantial Shareholder or existing Shareholders of the Company or any
+of their subsidiaries or their respective close associates or syndicate members or any other brokers
+or underwriters to any public Shareholders in the Hong Kong Public Offering or placees in the
+International Offering; and (v) the consideration payable by the public Shareholders in the Hong
+Kong Public Offering and placees in the International Offering for each Share subscribed for or
+purchased by them is the same as the final Offer Price as determined by the Company, in addition
+to brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and
+Hong Kong Stock Exchange trading fee of 0.00565%.
+Save as disclosed in this announcement, no Offer Shares placed by or through the Overall
+Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers and
+the Underwriters under the Global Offering have been placed with any core connected person (as
+defined in the Listing Rules) of the Company, or any connected clients (as set out in paragraph 5(1)
+of the Placing Guidelines) or persons set out in paragraph 5(2) of the Placing Guidelines, whether
+in their own names or through nominees. The Directors confirm that, no placees will, individually,
+be placed more than 10% of the enlarged issued share capital of the Company immediately after
+the Global Offering.
+
+
+--- page 14 ---
+16
+Over-allotment Option
+In connection with the Global Offering, the Company has granted the Over-allotment Option to the
+International Underwriters, exercisable by the Overall Coordinators (for themselves and on behalf
+of the International Underwriters), at any time from the Listing Date to Friday, December 15, 2023,
+being the 30th day after the last day for lodging applications under the Hong Kong Public Offering,
+to require the Company to allot and issue up to an aggregate of 50,000,000 additional Offer Shares,
+representing approximately 15% of the total number of Offer Shares initially available under the
+Global Offering, at the Offer Price to cover the over-allocations in the International Offering, if
+any. There has been an over-allocation of 50,000,000 Offer Shares in the International Offering.
+Such over-allocation may be covered by exercising the Over-allotment Option in full or in part
+or by making purchases in the secondary market or a combination of these means. In the event
+the Over-allotment Option is exercised, an announcement will be made on the Stock Exchange ’s
+website at www.hkexnews.hk and the Company ’s website at www.sxaz.com.cn . As of the date of
+this announcement, the Over-allotment Option has not been exercised.
+LOCK-UP OBLIGATIONS
+The Company, the Controlling Shareholder, and the Cornerstone Investors are subject to lock-up
+obligations (the “Lock-up Obligations ”) in respect of the Shares. The major terms of the Lock-up
+Obligations are as follows:
+Name
+Number of
+Shares subject to
+the Lock-up
+Obligations
+after Listing
+Percentage of
+shareholding in
+the Company
+subject to the
+Lock-up Obligations
+after Listing (1)
+Last day of the
+Lock-up Period
+The Company (subject to lock-up obligations pursuant to the Listing Rules and the Hong Kong Underwriting Agreement)
+N/A N/A May 22, 2024 (2)
+The Controlling Shareholder (subject to lock-up obligations pursuant to the
+ Listing Rules, the Hong Kong Underwriting Agreement and PRC Company Law)
+1,000,000,000
+Domestic Shares
+75.0% November 22, 2024 (3)
+Cornerstone Investor (subject to lock-up obligations pursuant to its Cornerstone Investment Agreement)
+Mingyang Smart Energy 72,018,000
+H Shares
+5.4 November 22, 2026 (4)
+Total 1,000,000,000
+Domestic Shares
+72,018,000
+H Shares
+75.0
+5.4
+Notes:
+(1) Assuming the Over-allotment Option is not exercised.
+(2) The Company may issue Shares without any lock-up obligations after the indicated date.
+(3) In accordance with the PRC Company Law, the shares issued prior to any public offering of shares by a
+company cannot be transferred within one year from the date on which such publicly offered shares are listed
+and traded on the relevant stock exchange. As such, the Controlling Shareholder is subject to lock-up restrictions
+within 12 months following the Listing Date.
+
+
+--- page 15 ---
+17
+(4) The Cornerstone Investor has agreed that it will not, whether directly or indirectly, at any time during the
+period of three years following the Listing, dispose of any of the Offer Shares it has purchased pursuant to
+the Cornerstone Investment Agreement, save for certain limited circumstances, such as transfers to any of its
+wholly-owned subsidiaries who will be bound by the same obligations of the Cornerstone Investor, including
+the lock-up period restriction. The Cornerstone Investor shall not enter into agreement(s) effecting a mortgage,
+charge, pledge, lien or other security interest securing its and its subsidiaries ’ financial obligations, or enter into
+any other agreement or arrangement having a similar effect over the Offer Shares it had purchased pursuant to
+the Cornerstone Investment Agreement within the first six-month period commencing from the Listing Date.
+Upon the lapse such period, the Cornerstone Investor may only enter into agreement(s) effecting security(ies)
+over its Offer Shares by delivering a written notice to the Company informing the Company of such intention
+at least ten (10) days prior to entering into such security(ies) accompanied by the major terms of the written
+instrument(s) contemplating the creation of the security(ies).
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure of the
+Global Offering – Conditions of the Global Offering ” in the Prospectus, valid applications made
+by the public through the White Form eIPO service and the CCASS EIPO service will be
+conditionally allocated on the basis set out below:
+APPROXIMATE
+PERCENTAGE
+ALLOTTED
+NO. OF SHARES NO. OF VALID OF THE TOTAL NO. OF
+APPLIED FOR APPLICATIONS BASIS OF ALLOTMENT/BALLOT SHARES APPLIED FOR
+POOL A
+2,000 1,007 2,000 Shares 100.00%
+4,000 231 4,000 Shares 100.00%
+6,000 65 6,000 Shares 100.00%
+8,000 24 8,000 Shares 100.00%
+10,000 52 10,000 Shares 100.00%
+12,000 12 12,000 Shares 100.00%
+14,000 7 14,000 Shares 100.00%
+16,000 9 16,000 Shares 100.00%
+18,000 5 18,000 Shares 100.00%
+20,000 47 20,000 Shares 100.00%
+30,000 9 30,000 Shares 100.00%
+40,000 13 40,000 Shares 100.00%
+50,000 2 50,000 Shares 100.00%
+60,000 4 60,000 Shares 100.00%
+70,000 5 70,000 Shares 100.00%
+80,000 4 80,000 Shares 100.00%
+90,000 1 90,000 Shares 100.00%
+100,000 1 100,000 Shares 100.00%
+200,000 4 200,000 Shares 100.00%
+300,000 1 300,000 Shares 100.00%
+500,000 1 500,000 Shares 100.00%
+2,000,000 3 2,000,000 Shares 100.00%
+1,507 Total number of Pool A successful applicants: 1,507
+POOL B
+5,000,000 1 5,000,000 Shares 100.00%
+1 Total number of Pool B successful applicant: 1
+
+
+--- page 16 ---
+18
+The final number of Offer Shares under the Hong Kong Public Offering is 20,046,000 H Shares,
+representing approximately 6.01% of the total number of Offer Shares initially available under the
+Global Offering.
+RESULTS OF ALLOCATIONS
+The final Offer Price, results of applications in the Hong Kong Public Offering, the level of
+indications of interests in the International Offering, the level of applications in the Hong Kong
+Public Offering and the basis of allocation of the Hong Kong Offer Shares will be published on
+Tuesday, November 21, 2023, on the websites of the Company at www.sxaz.com.cn and the Stock
+Exchange at www.hkexnews.hk .
+The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the White Form eIPO service or through the CCASS EIPO
+service, including the Hong Kong identity card numbers, passport numbers or Hong Kong
+business registration numbers, certificate of incorporation numbers of successful applicants (where
+applicable) and the number of the Hong Kong Offer Shares successfully applied for, will be made
+available at the times and dates and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.sxaz.com.cn and the
+Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on Tuesday,
+November 21, 2023;
+• from the designated results of allocations website at www.iporesults.com.hk (alternatively: English
+https://www.eipo.com.hk/en/Allotment; Chinese https://www.eipo.com.hk/zh-hk/Allotment) with
+a “search by ID” function on a 24-hour basis from 8:00 a.m. on Tuesday, November 21, 2023 to 12:00
+midnight, on Monday, November 27, 2023;
+• by telephone enquiry line by calling +852 2862 8555 between 9:00 a.m. and 6:00 p.m. from
+Tuesday, November 21, 2023 to Friday, November 24, 2023 (excluding Saturday, Sunday and
+public holiday in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ” in this
+announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong business
+registration numbers/certificate of incorporation numbers/beneficial owner identification codes (if
+such applications are made by nominees as agent for the benefit of another person) whereas those
+displayed in the section headed “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS Participants
+via CCASS. Therefore, the identification document numbers shown in the two sections are
+different in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by White
+Form eIPO ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 17 ---
+19
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee Subscription
+Number of
+H Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares
+(assuming the
+Overallotment
+Option is not
+exercised)
+Subscription
+as % of
+International
+Offer Shares
+(assuming the
+Overallotment
+Option is
+exercised
+in full)
+Subscription
+as % of
+total Offer
+Shares
+(assuming the
+Overallotment
+Option is not
+exercised)
+Subscription
+as % of
+total Offer
+Shares
+(assuming the
+Overallotment
+Option is
+exercised
+in full)
+Number of
+H Shares
+as % of
+total H Shares
+(assuming the
+Overallotment
+Option is not
+exercised)
+Number of
+H Shares
+as % of total
+H Shares
+(assuming the
+Overallotment
+Option is
+exercised
+in full)
+Number of
+Shares as % of
+total Shares
+upon Listing
+(assuming the
+Overallotment
+Option is not
+exercised)
+Number of
+Shares as % of
+total Shares
+upon Listing
+(assuming the
+Overallotment
+Option is
+exercised in full)
+Top 1 72,018,000 72,018,000 72,018,000 22.99% 19.82% 21.61% 18.79% 21.61% 18.79% 5.40% 5.21%
+Top 5 240,560,000 240,560,000 240,560,000 76.79% 66.22% 72.17% 62.75% 72.17% 62.75% 18.04% 17.39%
+Top 10 326,196,000 326,196,000 326,196,000 104.12% 89.79% 97.86% 85.09% 97.86% 85.09% 24.46% 23.58%
+Top 20 362,912,000 362,912,000 362,912,000 115.84% 99.90% 108.87% 94.67% 108.87% 94.67% 27.22% 26.23%
+Top 25 362,952,000 362,952,000 362,952,000 115.85% 99.91% 108.89% 94.68% 108.89% 94.68% 27.22% 26.24%
+Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Shareholder Subscription (1)
+Number of
+H Shares
+held upon
+Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares
+(assuming the
+Overallotment
+Option is not
+exercised) (2)
+Subscription
+as % of
+International
+Offer Shares
+(assuming the
+Overallotment
+Option is
+exercised
+in full) (2)
+Subscription
+as % of total
+Offer Shares
+(assuming the
+Overallotment
+Option is not
+exercised)
+Subscription
+as % of total
+Offer Shares
+(assuming the
+Overallotment
+Option is
+exercised
+in full)
+Number of
+H Shares as
+% of total
+H Shares
+(assuming the
+Overallotment
+Option is not
+exercised)
+Number of
+H Shares as
+% of total
+H Shares
+(assuming the
+Overallotment
+Option is
+exercised
+in full)
+Number of
+Shares as %
+of total Shares
+upon Listing
+(assuming the
+Overallotment
+Option is not
+exercised)
+Number of
+Shares as %
+of total Shares
+upon Listing
+(assuming the
+Overallotment
+Option is
+exercised
+in full)
+Top 1 – – 1,000,000,000 – – – – – – 75.00% 72.29%
+Top 5 205,782,000 205,782,000 1,205,782,000 65.68% 56.64% 61.73% 53.68% 61.73% 53.68% 90.43% 87.16%
+Top 10 310,892,000 310,892,000 1,310,892,000 99.24% 85.58% 93.27% 81.10% 93.27% 81.10% 98.32% 94.76%
+Top 20 374,184,000 374,184,000 1,374,184,000 115.77% 99.83% 112.25% 97.61% 112.25% 97.61% 103.06% 99.34%
+Top 25 375,284,000 375,284,000 1,375,284,000 115.77% 99.83% 112.58% 97.90% 112.58% 97.90% 103.15% 99.42%
+
+
+--- page 18 ---
+20
+Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company upon Listing:
+H Shareholder Subscription (1)
+Number of
+H Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares
+(assuming the
+Overallotment
+Option is not
+exercised) (2)
+Subscription
+as % of
+International
+Offer Shares
+(assuming the
+Overallotment
+Option is
+exercised
+in full) (2)
+Subscription
+as % of total
+Offer Shares
+(assuming the
+Overallotment
+Option is not
+exercised)
+Subscription
+as % of total
+Offer Shares
+(assuming the
+Overallotment
+Option is
+exercised
+in full)
+Number of
+H Shares as %
+of total
+H Shares
+(assuming the
+Overallotment
+Option is not
+exercised)
+Number of
+H Shares
+as % of total
+H Shares
+(assuming the
+Overallotment
+Option is
+exercised
+in full)
+Number of
+Shares as %
+of total Shares
+upon Listing
+(assuming the
+Overallotment
+Option is not
+exercised)
+Number of
+Shares as %
+of total Shares
+upon Listing
+(assuming the
+Overallotment
+Option is
+exercised
+in full)
+Top 1 72,018,000 72,018,000 72,018,000 22.99% 19.82% 21.61% 18.79% 21.61% 18.79% 5.40% 5.21%
+Top 5 240,560,000 240,560,000 240,560,000 76.79% 66.22% 72.17% 62.75% 72.17% 62.75% 18.04% 17.39%
+Top 10 326,196,000 326,196,000 326,196,000 104.12% 89.79% 97.86% 85.09% 97.86% 85.09% 24.46% 23.58%
+Top 20 374,484,000 374,484,000 374,484,000 115.77% 99.83% 112.34% 97.69% 112.34% 97.69% 28.09% 27.07%
+Top 25 375,462,000 375,462,000 375,462,000 115.82% 99.88% 112.64% 97.95% 112.64% 97.95% 28.16% 27.14%
+(1) It includes the number of H Shares subscribed for by (i) successful applicants under the Hong Kong Public
+Offering; and (ii) placees under the International Offering.
+(2) It represents the subscription level as percentage of the International Offering without taking into account the
+subscription by successful applicants under the Hong Kong Public Offering.
+In view of the high concentration of shareholding in a small number of H Shareholders,
+H Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of H Shares traded, and should exercise
+extreme caution when dealing in H Shares.
diff --git a/data/extracted_text/02649/allotment_results_2026-03-06_2026030601405.txt b/data/extracted_text/02649/allotment_results_2026-03-06_2026030601405.txt
new file mode 100644
index 0000000..29dd2f7
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+++ b/data/extracted_text/02649/allotment_results_2026-03-06_2026030601405.txt
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+--- page 1 ---
+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 constitute or form a part of any offer or solicitation to purchase or subscribe for securities
+in the United States or in any other jurisdictions. The securities mentioned herein 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. The securities may not be offered, sold, pledged
+or otherwise transferred within the United States except pursuant to an exemption from the registration requirements
+of the U.S. Securities Act and in compliance with any applicable state securities laws. The securities are being offered
+and sold outside the United States in offshore transactions in accordance with 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
+February 27, 2026 (the “Prospectus ”) issued by ALSCO Pooling Service Co., Ltd. (ࠢ
+ʮ̡) (the “Company ”) for detailed information about the Global Offering described below before deciding whether
+or not to invest in the H Shares thereby being offered. Any investment decision in relation to the Offer Shares should
+be taken solely in reliance on the information in the Prospectus. 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 Sponsor-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 section 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, March 9, 2026).
+
+
+--- page 2 ---
+2
+ʮ̡
+ALSCO Pooling Service Co., Ltd.
+(A joint stock company incorporated in the People ’s Republic of China with limited liability)
+GLOBAL OFFERING
+Number of Offer Shares under
+the Global Offering
+: 20,336,000 H Shares
+Number of Hong Kong Offer Shares : 2,034,000 H Shares
+Number of International Offer Shares : 18,302,000 H Shares
+Final Offer Price : HK$11.0 per H Share, plus brokerage of
+1.0%, SFC transaction levy of 0.0027%,
+Hong Kong Stock Exchange trading fee of
+0.00565% and AFRC transaction levy of
+0.00015%
+Nominal value : RMB1.00 per H Share
+Stock code : 2649
+Sole Sponsor, Overall Coordinator, Joint Global Coordinator, Joint Bookrunner
+and Joint Lead Manager
+Overall Coordinator, Joint Global Coordinator, Joint Bookrunner, Joint Lead Manager
+and Financial Adviser
+Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager
+Joint Bookrunners and Joint Lead Managers
+(in alphabetical order)
+
+
+--- page 3 ---
+3
+ALSCO Pooling Service Co., Ltd.
+ʮ̡
+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 February 27, 2026 (the “Prospectus ”) issued by
+ALSCO Pooling Service 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 price of
+the H Shares could move substantially even with a small number of H Shares traded and
+should exercise extreme caution when dealing in the H Shares.
+SUMMARY
+Company information
+Stock code 2649
+Stock short name ALSCO POOLING
+Dealings commencement date March 9, 2026 *
+* see note at the end of the announcement
+Price Information
+Final Offer Price HK$11.00
+Offer Price Range HK$11.00 – HK$14.00
+Offer Price Adjustment exercised No
+Offer Shares and Share Capital
+Number of Offer Shares 20,336,000
+Number of Offer Shares in Hong Kong Public Offering 2,034,000
+Number of Offer Shares in International Offering 18,302,000
+Number of issued Shares upon Listing 90,336,000
+
+
+--- page 4 ---
+4
+Proceeds
+Gross proceeds (Note) HK$223.70 million
+Less: Estimated listing expenses payable based on final
+Offer Price HK$(48.18) million
+Net proceeds HK$175.52 million
+Note: Gross proceeds refer to the amount 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.
+ALLOTMENT RESULTS DETAILS
+HONG KONG PUBLIC OFFERING
+No. of valid applications 162,571
+No. of successful applications 4,068
+Subscription level 5,297.23 times
+Claw-back triggered No
+No. of Offer Shares initially available under the Hong Kong Public
+Offering 2,034,000
+Final no. of Offer Shares under the Hong Kong Public Offering 2,034,000
+% of Offer Shares under the Hong Kong Public Offering to the Global
+Offering 10%
+Note: For details of the final allocation of H 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 162
+Subscription level 4.20 times
+No. of Offer Shares initially available under the International Offering 18,302,000
+Final no. of Offer Shares under the International Offering 18,302,000
+% of Offer Shares under the International Offering to the Global
+Offering 90%
+
+
+--- page 5 ---
+5
+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, Supervisors, chief executive of the Company, Controlling
+Shareholders, substantial Shareholders, 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, chief executive of the Company, Controlling Shareholders, substantial
+Shareholders, existing Shareholders of the Company or any of its subsidiaries or their respective
+close associates in relation to the acquisition, disposal, voting or other disposition of H Shares
+registered in his/her/its name or otherwise held by him/her/it.
+Furthermore, 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. There is also no side agreement or arrangement
+between the Company or any of its subsidiaries, their directors, chief executive, its Controlling
+Shareholders, substantial shareholders, existing Shareholders, or any of their respective close
+associates, on one hand, and the public subscribers or the placees who have subscribed for the
+Offer Shares, on the other hand. The International Offering is in compliance with Appendix F1 to
+the Listing Rules (the “Placing Guidelines ”).
+The placees in the International Offer include the following:
+
+
+--- page 6 ---
+6
+Allotees with Waivers/Consents Obtained
+Investor
+No. of
+Offer Shares
+allocated
+% of Offer
+Shares
+% of total
+issued share
+capital after
+the Global
+Offering Relationship
+Allottees with consent under paragraph 5(1) of the Placing Guidelines in relation to subscription of
+shares by connected clients (Note 1)
+Bosera Asset Management
+(International) Co., Limited 175,000 0.86% 0.19% Connected client
+CHINA ASSET
+MANAGEMENT (HONG
+KONG) LIMITED 175,000 0.86% 0.19% Connected client
+Value Partners Limited and
+Value Partners Hong Kong
+Limited 213,000 1.05% 0.24% Connected client
+Note:
+1. For details of the consent under paragraph 1C(1) of the Placing Guidelines to permit the Company to allocate certain
+Offer Shares in the International Offering to connected clients, please refer to the section headed “Other Information ” in
+this announcement.
+
+
+--- page 7 ---
+7
+LOCK-UP UNDERTAKINGS
+Controlling Shareholders
+Name
+Number of
+Shares held
+in the Company
+subject to lock-up
+undertakings
+upon Listing
+H Shares as %
+of total issued
+H Shares after
+the Global
+Offering subject
+to lock-up
+undertakings
+upon Listing
+% of total
+issued share
+capital in the
+Company
+subject to
+lock-up
+undertakings
+upon Listing
+Last day
+subject to
+the lock-up
+undertakings Note
+Mr. Sun Yan ’an 36,093,750 H Shares 41.18% 39.96% March 9, 2027
+Suzhou Anhua Investment
+Co., Ltd. 3,318,924 H Shares 3.79% 3.67% March 9, 2027
+Total 39,412,674 H Shares 44.96% 43.63%
+Note: Under the applicable PRC laws, all existing Shareholders are subject to a lock-up period of twelve months
+following the Listing Date. The lock-up requirement under the applicable PRC laws is longer than the lock-up
+period required of Controlling Shareholders under Rule 10.07 of the Listing Rules.
+
+
+--- page 8 ---
+8
+Pre-IPO Investors (as defined in the “History and Corporate Structure ” section of the
+Prospectus)
+Name
+Number of
+Shares held
+in the Company
+subject to lock-up
+undertakings
+upon Listing
+H Shares as %
+of total issued
+H Shares after
+the Global
+Offering subject
+to lock-up
+undertakings
+upon Listing
+% of total
+issued share
+capital in the
+Company
+subject to
+lock-up
+undertakings
+upon Listing
+Last day
+subject to
+the lock-up
+undertakings Note
+Suzhou International
+Development Emerging
+Industry Venture
+Investment Enterprise
+(Limited Partnership) 3,645,833 H Shares 4.16% 4.04% March 9, 2027
+Suzhou Industrial Park
+Yuandian Zhengze No. 2
+Venture Capital Partnership
+(Limited Partnership) 2,604,163 H Shares 2.97% 2.88% March 9, 2027
+Suqian International
+Development Venture
+Capital Enterprise
+(Limited Partnership) 1,822,917 H Shares 2.08% 2.02% March 9, 2027
+Suzhou International
+Development Union Equity
+Investment Enterprise
+(Limited Partnership) 1,822,917 H Shares 2.08% 2.02% March 9, 2027
+Changzhou Shuguang
+Enterprise Management
+Consulting Partnership
+(Limited Partnership) 607,639 H Shares 0.69% 0.67% March 9, 2027
+Shanghai Qianjin Industrial
+Co., Ltd. 2,682,295 Shares – 2.97% March 9, 2027
+Hangzhou Jintou Zhihe
+Venture Capital Partnership
+(Limited Partnership) 1,312,500 H Shares 1.50% 1.45% March 9, 2027
+
+
+--- page 9 ---
+9
+Name
+Number of
+Shares held
+in the Company
+subject to lock-up
+undertakings
+upon Listing
+H Shares as %
+of total issued
+H Shares after
+the Global
+Offering subject
+to lock-up
+undertakings
+upon Listing
+% of total
+issued share
+capital in the
+Company
+subject to
+lock-up
+undertakings
+upon Listing
+Last day
+subject to
+the lock-up
+undertakings Note
+Fang Dianjun 492,188 H Shares 0.56% 0.54% March 9, 2027
+Yancheng Fusion Base
+Emerging Industry Fund
+(Limited Partnership) 1,750,000 H Shares 2.00% 1.94% March 9, 2027
+Suzhou Industrial Park
+Industry Investment Fund
+(Limited Partnership) 1,312,500 H Shares 1.50% 1.45% March 9, 2027
+Suzhou Shihu Minsheng
+Equity Investment
+Partnership
+(Limited Partnership) 875,000 H Shares 1.00% 0.97% March 9, 2027
+Suzhou Industrial Park Science
+and Technology Innovation
+Investment Partnership
+(Limited Partnership) 437,500 H Shares 0.50% 0.48% March 9, 2027
+Yu Yue 328,125 H Shares 0.37% 0.36% March 9, 2027
+Note: Under the applicable PRC laws, all existing Shareholders (including Pre-IPO Investors) are subject to a
+lockup period of twelve months following the Listing Date.
+
+
+--- page 10 ---
+10
+Other Existing Shareholders
+Name
+Number of
+Shares held
+in the Company
+subject to lock-up
+undertakings
+upon Listing
+H Shares as %
+of total issued
+H Shares after
+the Global
+Offering subject
+to lock-up
+undertakings
+upon Listing
+% of total
+issued share
+capital in the
+Company
+subject to
+lock-up
+undertakings
+upon Listing
+Last day
+subject to
+the lock-up
+undertakings Note 1
+Wang Yue 4,921,875 H Shares 5.62% 5.45% March 9, 2027
+Zhu Zhizhou 2,460,937 H Shares 2.81% 2.72% March 9, 2027
+Sun Wenhong 2,460,937 H Shares 2.81% 2.72% March 9, 2027
+Suzhou Sailing Enterprise
+Management Partnership
+(Limited Partnership) 1,050,000 H Shares 1.20% 1.16% March 9, 2027
+Note: Under the applicable PRC laws, all existing Shareholders are subject to a lockup period of twelve months
+following the Listing Date.
+PLACEE CONCENTRATION ANALYSIS
+Placees*
+Number of
+H Shares
+allotted
+Allotment
+as % of the
+International
+Offering
+Allotment as
+% of total
+Offer Shares
+Number of
+Shares held
+upon Listing
+% of total
+issued share
+capital upon
+Listing
+Top 1 3,600,000 19.67% 17.70% 3,600,000 3.99%
+Top 5 7,227,000 39.49% 35.54% 7,227,000 8.00%
+Top 10 10,588,500 57.85% 52.07% 10,588,500 11.72%
+Top 25 15,332,000 83.77% 77.39% 15,332,000 16.97%
+Notes:
+* Ranking of placees is based on the number of H Shares allotted to the placees.
+
+
+--- page 11 ---
+11
+H SHAREHOLDER CONCENTRATION ANALYSIS
+H Shareholder*
+Number of
+H Shares
+allotted
+Allotment
+as % of the
+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 0 0.00% 0.00% 39,412,674 44.96% 39,412,674
+Top 5 3,600,000 19.67% 17.70% 65,716,316 74.97% 65,716,316
+Top 10 6,327,000 34.57% 31.11% 72,216,753 82.39% 72,216,753
+Top 25 13,444,000 73.46% 66.11% 80,433,580 91.76% 80,433,580
+Notes:
+* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
+SHAREHOLDER CONCENTRATION ANALYSIS
+H Shareholder*
+Number of
+H Shares
+allotted
+Allotment
+as % of the
+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 0.00% 0.00% 39,412,674 39,412,674 43.63%
+Top 5 3,600,000 19.67% 17.70% 63,255,379 65,937,674 72.99%
+Top 10 5,418,000 29.60% 26.64% 71,307,753 73,990,048 81.91%
+Top 25 13,089,000 71.52% 64.36% 80,078,580 82,760,875 91.61%
+Notes:
+* Ranking of Shareholders is based on the number of Shares held by the Shareholders upon Listing.
+
+
+--- page 12 ---
+12
+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
+H SHARES
+APPLIED FOR
+NO. OF VALID
+APPLICATIONS BASIS OF ALLOTMENT/BALLOT
+APPROXIMATE
+PERCENTAGE
+ALLOTTED OF
+THE TOTAL NO.
+OF H SHARES
+APPLIED FOR
+POOL A
+500 91,248 34 out of 91,248 to receive 500 Shares 0.04%
+1,000 8,071 6 out of 8,071 to receive 500 Shares 0.04%
+1,500 4,772 6 out of 4,772 to receive 500 Shares 0.04%
+2,000 3,056 5 out of 3,056 to receive 500 Shares 0.04%
+2,500 2,617 5 out of 2,617 to receive 500 Shares 0.04%
+3,000 1,845 4 out of 1,845 to receive 500 Shares 0.04%
+3,500 3,518 9 out of 3,518 to receive 500 Shares 0.04%
+4,000 1,754 5 out of 1,754 to receive 500 Shares 0.04%
+4,500 916 3 out of 916 to receive 500 Shares 0.04%
+5,000 4,197 16 out of 4,197 to receive 500 Shares 0.04%
+6,000 1,076 5 out of 1,076 to receive 500 Shares 0.04%
+7,000 1,730 9 out of 1,730 to receive 500 Shares 0.04%
+8,000 986 6 out of 986 to receive 500 Shares 0.04%
+9,000 636 5 out of 636 to receive 500 Shares 0.04%
+10,000 2,708 22 out of 2,708 to receive 500 Shares 0.04%
+15,000 1,865 21 out of 1,865 to receive 500 Shares 0.04%
+20,000 1,424 22 out of 1,424 to receive 500 Shares 0.04%
+25,000 1,343 25 out of 1,343 to receive 500 Shares 0.04%
+30,000 1,038 24 out of 1,038 to receive 500 Shares 0.04%
+35,000 931 25 out of 931 to receive 500 Shares 0.04%
+40,000 938 28 out of 938 to receive 500 Shares 0.04%
+45,000 669 23 out of 669 to receive 500 Shares 0.04%
+50,000 1,428 54 out of 1,428 to receive 500 Shares 0.04%
+60,000 795 36 out of 795 to receive 500 Shares 0.04%
+70,000 800 42 out of 800 to receive 500 Shares 0.04%
+80,000 707 43 out of 707 to receive 500 Shares 0.04%
+90,000 558 38 out of 558 to receive 500 Shares 0.04%
+100,000 2,156 163 out of 2,156 to receive 500 Shares 0.04%
+150,000 1,723 195 out of 1,723 to receive 500 Shares 0.04%
+200,000 1,312 198 out of 1,312 to receive 500 Shares 0.04%
+250,000 1,069 201 out of 1,069 to receive 500 Shares 0.04%
+300,000 881 200 out of 881 to receive 500 Shares 0.04%
+350,000 2,107 556 out of 2,107 to receive 500 Shares 0.04%
+Total 150,874 Total number of Pool A successful applicants: 2,034
+
+
+--- page 13 ---
+13
+NO. OF
+H SHARES
+APPLIED FOR
+NO. OF VALID
+APPLICATIONS BASIS OF ALLOTMENT/BALLOT
+APPROXIMATE
+PERCENTAGE
+ALLOTTED OF
+THE TOTAL NO.
+OF H SHARES
+APPLIED FOR
+POOL B
+400,000 3,412 343 out of 3,412 to receive 500 Shares 0.01%
+450,000 791 90 out of 791 to receive 500 Shares 0.01%
+500,000 1,164 146 out of 1,164 to receive 500 Shares 0.01%
+600,000 733 111 out of 733 to receive 500 Shares 0.01%
+700,000 625 110 out of 625 to receive 500 Shares 0.01%
+800,000 485 98 out of 485 to receive 500 Shares 0.01%
+900,000 412 93 out of 412 to receive 500 Shares 0.01%
+1,017,000 4,075 1,043 out of 4,075 to receive 500 Shares 0.01%
+Total 11,697 Total number of Pool B successful applicants: 2,034
+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.
+OTHER INFORMATION
+Placing to connected clients with a prior consent under paragraph 1C(1) of the Placing
+Guidelines
+The Company has applied to the Stock Exchange, and the Stock Exchange has granted, a consent
+under paragraph 1C(1) of the Placing Guidelines to permit the Company to allocate certain Offer
+Shares in the International Offering to connected clients. The allocation of Offer Shares to such
+connected clients is in compliance with all the conditions under the consent granted by the Stock
+Exchange.
+
+
+--- page 14 ---
+14
+Details of the placement to connected clients are set out below:
+No. Connected client Connected distributor
+Relationship with the
+connected distributor
+Basis of
+holding
+securities
+Number
+of Offer
+Shares
+Ultimate
+beneficial
+owner of the
+Offer Shares
+allocated to the
+connected client
+Percentage
+of the
+Offer Shares
+Percentage of
+total issued
+Shares of
+the Company
+immediately upon
+completion of the
+Global Offering
+1. Bosera Asset Management
+(International) Co., Ltd
+(“Bosera AM ”)
+CMB International Capital
+Limited ( “CMBI”), CMB
+International Securities
+Limited ( “CMBI Securities ”),
+and CMB International
+Global Markets Limited
+(“CMBI Global Markets ”,
+together with CMBI and
+CMBI Securities, the “CMBI
+Connected Distributors ”)
+Bosera AM is a member of the same
+group with CMBI, CMBI Securities
+and CMBI Global Markets.
+Discretionary 175,000 Please refer to
+note 1 below.
+0.86% 0.19%
+2. Value Partners Limited
+and Value Partners
+Hong Kong Limited
+(collectively, “Value
+Partners ”)
+GF Securities (Hong Kong)
+Brokerage Limited ( “GF
+Securities (Hong Kong)
+Brokerage ”)
+GF Securities (Hong Kong) Brokerage is
+an indirect wholly-owned subsidiary
+of GF Securities Co., Ltd. (Stock
+Code: 1776) ( “GF Securities ”). Value
+Partners is a wholly-owned subsidiary
+of Value Partners Group Limited
+(Stock Code: 806) ( “VPGL”).
+GF Securities is interested in 20.04%
+shareholding in VPGL which renders
+VPGL and its subsidiaries “associates ”
+of GF Securities, hence Value Partners
+and GF Securities (Hong Kong)
+Brokerage is a “member of the same
+group of companies ”.
+Discretionary 213,000 Please refer to
+note 2 below.
+3.93% 0.89%
+
+
+--- page 15 ---
+15
+No. Connected client Connected distributor
+Relationship with the
+connected distributor
+Basis of
+holding
+securities
+Number
+of Offer
+Shares
+Ultimate
+beneficial
+owner of the
+Offer Shares
+allocated to the
+connected client
+Percentage
+of the
+Offer Shares
+Percentage of
+total issued
+Shares of
+the Company
+immediately upon
+completion of the
+Global Offering
+3. CHINA ASSET
+MANAGEMENT
+(HONG KONG)
+LIMITED ( “China
+Asset Management ”)
+CITIC Securities Brokerage (HK)
+Limited ( “CITIC Brokerage ”)
+China Asset Management is owned as to
+62.2% by CITIC Securities Company
+Limited, which is holding company
+of CITIC Brokerage. China Asset
+Management is a member of the
+same group of companies as CITICS
+Brokerage
+Discretionary 175,000 Please refer to
+note 3 below.
+0.86% 0.19%
+Notes:
+1) Bosera AM will hold the Offer Shares in its capacity as a discretionary fund manager managing assets on behalf of its underlying clients. To the best of
+knowledge of Bosera AM, the underlying clients of Bosera AM, together with its ultimate beneficial owners, is an independent third party of the Company, its
+subsidiaries, its Controlling Shareholders, its substantial shareholders, Bosera AM, the CMBI Connected Distributors and the companies which are members of
+the same group of the CMBI Connected Distributors.
+2) Value Partners will hold the Offer Shares in its capacity as the discretionary fund manager managing the funds on behalf of their investors, each of which is
+an independent third party of the Company, its subsidiaries, its Controlling Shareholders, its substantial shareholders, Value Partners, GF Securities and the
+companies which are members of the same group of GF Securities. To the best of knowledge of Value Partners, the underlying clients of Value Partners, together
+with its ultimate beneficial owners, is an independent third party of the Company, its subsidiaries, its Controlling Shareholders, its substantial shareholders, Value
+Partners, GF Securities (Hong Kong) Brokerage and the companies which are members of the same group of GF Securities (Hong Kong) Brokerage.
+3) China Asset Management will subscribe for and hold the Offer Shares as a placee under the International Offering in accounts in its capacity as the discretionary
+fund manager managing assets on behalf of its underlying clients. To the best of knowledge of China Asset Management, the underlying clients of China Asset
+Management, together with its ultimate beneficial owners, is an independent third party of the Company, its subsidiaries, its Controlling Shareholders, its
+substantial shareholders, China Asset Management, CITIC Brokerage and the companies which are members of the same group of CITIC Brokerage.
+
+
+--- page 16 ---
+16
+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 H 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 Stock Exchange trading fee payable.
+DISCLAIMERS
+Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and
+Hong Kong Securities Clearing Company Limited 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 Offer Shares have
+not been and will not be registered under the United States Securities Act of 1933, as amended
+(the “U.S. Securities Act ”) or any state securities laws in the United States and may not be
+offered, sold, pledged or transferred within the United States or to, or for the account or benefit
+of U.S. persons (as defined in Regulation S under the U.S. Securities Act), 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 (1) solely to qualified institutional buyers as defined in
+Rule 144A in reliance on Rule 144A or another exemption from, or in a transaction not subject
+to, registration under the U.S. Securities Act and (2) 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 invitation or offer
+to acquire, purchase or subscribe for securities. This announcement is not a prospectus. Potential
+investors should read the Prospectus dated February 27, 2026 issued by ALSCO Pooling Service
+Co., Ltd. ʮ̡ for detailed information about the Global Offering
+described below before deciding whether or not to invest in the Offer Shares thereby being
+offered.
+* Potential investors of the Offer Shares should note that the Joint Sponsors and 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 section 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 March 9, 2026).
+
+
+--- page 17 ---
+17
+PUBLIC FLOAT AND FREE FLOAT
+Immediately following the completion of the Global Offering, based on the Offer Price of
+HK$11.00 per H Share: (1) 27,506,138 H Shares, representing approximately 30.45% of the total
+number of issued Shares will be counted towards the public after Listing, which will satisfy the
+public float requirement under Rule 19A.13A of the Listing Rules; and (2) the Company satisfies
+the free float requirement pursuant to Rule 19A.13C(1) of the Listing Rules.
+The Directors confirm that, immediately following completion of the Global Offering: (i) the
+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; (ii) the three largest public Shareholders will not hold more than
+50% of the H Shares held in public hands at the time of Listing, in compliance with Rules 8.08(3)
+and 8.24 of the Listing Rules; (iii) no placee will, individually, be placed more than 10% of the
+enlarged issued share capital of the Company immediately after the Global Offering; and (iv) there
+will not be any new substantial Shareholder (as defined in the Listing Rules) immediately after the
+Global Offering.
+COMMENCEMENT OF DEALINGS
+The H Share certificates will only become valid evidence of title at 8:00 a.m. on Monday, March
+9, 2026 (Hong Kong time), 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 H Shares on the basis of publicly available allocation
+details prior to the receipt of H Share certificates or prior to 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. on Monday,
+March 9, 2026 (Hong Kong time), it is expected that dealings in the H Shares on the Stock
+Exchange will commence at 9:00 a.m. on Monday, March 9, 2026 (Hong Kong time). The H
+Shares will be traded in board lots of 200 H Shares each, and the stock code of the H Shares will
+be 2649.
+By order of the Board
+ALSCO Pooling Service Co., Ltd.
+Mr. Sun Yan ’an
+Chairman and Director
+Hong Kong, March 6, 2026
+As of the date of this announcement, the board of directors of the Company comprises: (i)
+Mr. Sun Yan ’an, Mr. Wang Yue and Mr. Xiang Yang as executive Directors; (ii) Dr. Fang Dianjun,
+Mr. Ren Qingxiang and Dr. Dai Yuanyue as non-executive Directors; and (iii) Dr. Wang Rui,
+Dr. Liu Dacheng and Ms. Hong Ting as independent non-executive Directors.
diff --git a/data/extracted_text/03355/allotment_results_2026-03-20_2026032001750.txt b/data/extracted_text/03355/allotment_results_2026-03-20_2026032001750.txt
new file mode 100644
index 0000000..a74c577
--- /dev/null
+++ b/data/extracted_text/03355/allotment_results_2026-03-20_2026032001750.txt
@@ -0,0 +1,1628 @@
+--- page 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. There will be no
+public offer of the Offer Shares in the United States. 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.
+This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase
+or subscribe for securities. Potential investors should read the Prospectus for detailed information about the Company
+and the Global Offering described below before deciding whether or not to invest in the Offer Shares.
+Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those
+defined in the prospectus dated 13 March 2026 (the “Prospectus ”) issued by FS.COM Limited (the “Company ”).
+In connection with the Global Offering, China International Capital Corporation Hong Kong Securities Limited as
+stabilizing manager (the “Stabilization Manager ”) (or its affiliates or any person acting for it), on behalf of the
+Underwriters, to the extent permitted by the applicable laws and regulatory requirements of Hong Kong or elsewhere,
+may over-allocate or effect transactions with a view to stabilizing or supporting the market price of the H Shares at
+such price, in such amounts and in such manners as the Stabilizing Manager, its affiliates or any person acting for it
+may determine and at a level higher than that which might otherwise prevail for a limited period after the Listing Date.
+However, there is no obligation on the Stabilizing Manager (or its affiliates or any person acting for it) to conduct
+any such stabilizing action. Such stabilizing action, if taken, (a) will be conducted at the absolute discretion of the
+Stabilization Manager (or its affiliates or any person acting for it) and in what the Stabilizing Manager reasonably
+regards as the best interest of our Company, (b) may be discontinued at any time and (c) is required to be brought to
+an end within 30 days of the last day for lodging applications under the Hong Kong Public Offering, being Friday,
+17 April 2026. Such stabilizing action, if taken, may be effected in all jurisdictions where it is permissible to do so,
+in each case in compliance with all applicable laws, rules and regulatory requirements, including the Securities and
+Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong), as amended, made under the Securities
+and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
+Potential investors should be aware that no stabilizing action can be taken to support the price of the H Shares for
+longer than the stabilization period, which will begin on the Listing Date, and is expected to expire on the 30th day
+after the last day for lodging applications under the Hong Kong Public Offering. After this date, when no further
+stabilizing action may be taken, demand for the H Shares, and therefore the price of the H Shares, could fall.
+Potential investors of the Offer Shares should note that the Joint Sponsors and 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
+section 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.
+1
+
+
+--- page 2 ---
+FS.COM Limited
+ʮ̡
+(a joint stock company incorporated in the People ’s Republic of China with limited liability)
+Global Offering
+Number of Offer Shares under the
+Global Offering
+: 40,000,000 H Shares (subject to the
+Over-allotment Option)
+Number of Hong Kong Offer Shares : 4,000,000 H Shares (subject to
+ reallocation)
+Number of International Offer Shares : 36,000,000 H Shares (subject to
+reallocation and the Over-allotment
+ Option)
+Final Offer Price : HK$41.60 per H Share plus brokerage
+of 1.0%, SFC transaction levy of
+0.0027%, Hong Kong Stock Exchange
+trading fee of 0.00565% and AFRC
+transaction levy of 0.00015% (payable
+in full on application in Hong Kong
+dollars and subject to refund)
+Nominal value : RMB1.00 per H Share
+Stock code : 3355
+Joint Sponsors, Overall Coordinators, Joint Global Coordinators,
+Joint Bookrunners and Joint Lead Managers
+Joint Bookrunners
+2
+
+
+--- page 3 ---
+FS.COM Limited / 深圳市飛速創新技術股份有限公司
+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 13 March 2026 (the “Prospectus”) issued by FS.COM Limited (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 H Shares could move substantially even with a small
+number of H Shares traded and should exercise extreme caution when dealing in the H Shares.
+SUMMARY
+Company information
+Stock code 3355
+Stock short name FS.COM
+Dealings commencement date 23 March 2026*
+*see note at the end of the announcement
+Price Information
+Final Offer Price HK$41.60
+Maximum Offer Price HK$41.60
+Offer Shares and Share Capital
+Number of Offer Shares 40,000,000
+Number of Offer Shares in the Hong Kong Public Offering (after
+reallocation)
+4,000,000
+Number of offer shares in International Offering (after
+reallocation)
+36,000,000
+Number of issued shares upon Listing 400,000,000
+Over-allocation
+No. of Offer Shares over-allocated 6,000,000
+Such over-allocation may be covered by exercising the Over-allotment Option or by making purchases in the
+secondary market at prices that do not exceed the Offer Price or through deferred delivery or a combination of
+these means. In the event the Over-allotment Option is exercised, an announcement will be made on the Stock
+Exchange’s website.
+Proceeds
+Gross proceeds (Note) HK$ 1,664.00 million
+Less: Estimated listing expenses payable based on Final Offer
+Price
+HK$ 104.97 million
+Net proceeds HK$ 1,559.03 million
+Note: Gross proceeds refer to the amount to which the Company is entitled to receive. For details of the use of proceeds, please
+refer to the Prospectus dated 13 March 2026.
+ALLOTMENT RESULTS DETAILS
+HONG KONG PUBLIC OFFERING
+No. of valid applications 196,756
+No. of successful applications 31,492
+3
+
+
+--- page 4 ---
+Subscription level 1,579.71 times
+Claw-back triggered N/A
+No. of Offer Shares initially available under the Public Offer 4,000,000
+Final no. of Offer Shares under the Hong Kong Public Offering (after
+reallocation)
+4,000,000
+% of Offer Shares under the Hong Kong Public Offering to the Global
+Offering
+10%
+Note: For details of the final allocation of H Shares to the Hong Kong Public Offering, investors can refer to
+https://www.hkeipo.hk/IPOResult to perform a search by name or identification number or
+https://www.hkeipo.hk/IPOResult for the full list of allottees.
+INTERNATIONAL OFFERING
+No. of placees 140
+Subscription Level 10.92 times
+No. of Offer Shares initially available under the International Offering 36,000,000
+Final no. of Offer Shares under the International Offering 36,000,000
+% 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 , (a) save for waivers from strict
+compliance with Rule 10.04 of the Listing Rules and consents under paragraph 1C(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 certain existing Shareholders and/or their close associates and (b) a consent under
+Chapter 4.15 of the Guide for New Listing Applicants to permit the Company to, among other things, allocate further H
+Shares in the International Offering to certain Cornerstone Investors and/or their respective close associates , (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 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, chief executive of the Company, controlling shareholders, substantial shareholders, existing shareholders
+of the Company or any of its subsidiari es 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.
+The placees in the International Offering include the following:
+Cornerstone Investors
+Investor(1)
+No. of
+Offer
+Shares
+allocated
+% of total issued H
+Shares after the
+Global Offering
+(assuming the Over-
+allotment Option is
+not exercised)
+% of total
+issued share
+capital after the
+Global Offering
+(assuming the Over-
+allotment Option is
+not exercised)
+Existing
+shareholders or
+their close
+associates
+Hao Great
+China Focus
+Fund (“Hao
+Fund”) 3,751,900 0.94% 0.94% No
+Great Holding
+Development
+Limited (“Great
+Holding”) 2,713,900 0.68% 0.68%
+No
+4
+
+
+--- page 5 ---
+Investor(1)
+No. of
+Offer
+Shares
+allocated
+% of total issued H
+Shares after the
+Global Offering
+(assuming the Over-
+allotment Option is
+not exercised)
+% of total
+issued share
+capital after the
+Global Offering
+(assuming the Over-
+allotment Option is
+not exercised)
+Existing
+shareholders or
+their close
+associates
+WT Asset
+Management
+Limited 1,875,900 0.47% 0.47%
+No
+Caitong Funds
+SPC —
+Strategic Equity
+Fund III SP
+(“Caitong
+SEIII”) 1,802,800 0.45% 0.45%
+No
+Shanghai
+Intewise Capital
+Investment
+Limited
+(“Shanghai
+Intewise”)
+ultimate clients
+and CICC
+Financial
+Trading Limited
+(“CICC FT”)
+(in connection
+with Shanghai
+Intewise OTC
+Swaps) 1,346,100 0.34% 0.34%
+No
+Foresight
+Capital Steady
+Growth LPF
+(“Foresight”) 1,201,900 0.30% 0.30%
+No
+SCGC Capital
+Holding
+Company
+Limited
+(“SCGC
+Capital”) 1,201,900 0.30% 0.30% Yes
+Aether Wave
+Fund L.P. 1,125,500 0.28% 0.28% Yes
+GF International
+Investment
+Management
+Limited (“GF
+Fund HK”) 937,900 0.23% 0.23%
+No
+Shenzhen
+Kaifeng
+Investment
+Management
+Co., Ltd.
+(“Shenzhen
+Kaifeng”),
+Changdu
+Kaifeng
+Investment 721,000 0.18% 0.18%
+No
+5
+
+
+--- page 6 ---
+Investor(1)
+No. of
+Offer
+Shares
+allocated
+% of total issued H
+Shares after the
+Global Offering
+(assuming the Over-
+allotment Option is
+not exercised)
+% of total
+issued share
+capital after the
+Global Offering
+(assuming the Over-
+allotment Option is
+not exercised)
+Existing
+shareholders or
+their close
+associates
+Management
+Co., Ltd.
+(“Changdu
+Kaifeng”) and
+CICC FT (in
+connection with
+the Kaifeng
+OTC Swaps (as
+defined below))
+Wider Huge
+Group Limited
+(“Wider
+Huge”) 244,100 0.06% 0.06%
+No
+Total 16,922,900 4.23% 4.23%
+Note:
+1. In addition to the Offer Shares subscribed for as Cornerstone Investors, CICC FT (in connection with the Shanghai
+Intewise OTC Swaps and the Kaifeng OTC Swaps), Foresight, Aether Wave Fund L.P., SCGC Capital and Wider
+Huge and/or their respective close associates, where applicable, were allocated further Offer Shares as placees
+in the International Offering. Please refer to the section headed “Allotment Results Details – International Offer
+– Allottees with waivers/consents obtained” in this announcement for details. Only the Offer Shares subscribed
+for as Cornerstone Investors are subject to lock -up as indicated below. For details, please refer to the section
+headed “Lock-up Undertakings – Cornerstone Investors” in this announcement.
+Allottees with waivers/consents obtained
+Investor
+No. of
+Offer
+Shares allocated
+% of total issued H
+Shares after the
+Global Offering
+(assuming the over-
+allotment Option is
+not exercised)
+% of total issued
+share capital after
+the Global Offering
+(assuming the Over-
+allotment Option is
+not exercised) Relationship
+Allottees with consent under Chapter 4.15 of the Guide for New Listing Applicants in relation to allocations of
+further H Shares to existing Shareholders and Cornerstone Investors and/or their close associates (1)
+Hao Fund 1,743,500 0.44% 0.44% A Cornerstone
+Investor
+WT Asset
+Management Limited
+1,313,000 0.33% 0.33% A Cornerstone
+Investor
+Caitong SEIII 1,257,000 0.31% 0.31% A Cornerstone
+Investor
+SCGC Capital 1,200,000 0.30% 0.30% A close associate
+of an existing
+Shareholder and a
+Cornerstone
+Investor
+Aether Wave Fund
+L.P.
+788,000 0.20% 0.20% A Cornerstone
+Investor
+Shanghai Intewise
+ultimate clients and
+CICC FT (in
+5,412,500 1.35% 1.35% A Cornerstone
+Investor
+6
+
+
+--- page 7 ---
+connection with
+Shanghai Intewise
+OTC Swaps)
+Shenzhen Kaifeng,
+Changdu Kaifeng
+and CICC FT (in
+connection with the
+Kaifeng OTC Swaps)
+318,500 0.08% 0.08% A Cornerstone
+Investor
+Longrising Ultimate
+Clients (as defined
+below) and CICC FT
+(in connection with
+the Longrising OTC
+Swaps (as defined
+below))
+63,400 0.16% 0.16% A close associate
+of a Cornerstone
+Investor
+Wider Huge 187,500 0.05% 0.05% A Cornerstone
+Investor
+Foresight 825,500 0.21% 0.21% A Cornerstone
+Investor
+GF Fund HK 656,500 0.16% 0.16% A close associate
+of a Cornerstone
+Investor
+GF Securities Asset
+Management
+(Guangdong) Co.,
+Ltd. (“GF Securities
+AM”, acting as a
+qualified domestic
+institutional investor
+for PSBC Wealth
+Management Co.,
+Ltd. (“ PSBC
+Wealth”)) (2)
+5,000 0.01% 0.01% A close associate
+of a Cornerstone
+Investor
+GF Securities AM
+acting as a qualified
+domestic institutional
+investor for CIB -
+GFAM
+WANXIANG NO.1
+(3)
+2,000 0.01% 0.01% A close associate
+of a Cornerstone
+Investor
+Allottees with consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide for New
+Listing Applicants in relation to allocations to connected clients (4)
+Shanghai Intewise
+ultimate clients and
+CICC FT (in
+connection with
+Shanghai Intewise
+OTC Swaps)
+5,412,500 1.35% 1.35% Connected client
+Shenzhen Kaifeng
+and CICC FT (in
+connection with the
+Kaifeng OTC
+Swaps)
+159,200 0.04% 0.04% Connected client
+Changdu Kaifeng
+and CICC FT (in
+connection with the
+Changdu OTC
+159,300 0.04% 0.04% Connected client
+7
+
+
+--- page 8 ---
+Swaps) (defined
+below)
+Longrising Ultimate
+Clients (as defined
+below) and CICC FT
+(in connection with
+the Longrising OTC
+Swaps (as defined
+below))
+63,400 0.02% 0.02% Connected client
+Bosera Asset
+Management
+(International) Co.,
+Ltd (“Bosera AM”)
+75,000 0.02% 0.02% Connected client
+China Asset
+Management (Hong
+Kong) Limited
+(“China AM HK”)
+75,000 0.02% 0.02% Connected client
+CSI Panjing
+Ultimate Clients
+(defined below) and
+CITIC Securities
+International Capital
+Management
+Limited (“CSI”) (in
+connection with CSI
+Panjing OTC Swaps)
+84,500 0.02% 0.02% Connected client
+CITIC Securities
+Asset Management
+Company Limited
+(“CITIC Asset
+Management”)
+10,000 0.003% 0.003% Connected client
+CSI HY Capital
+Ultimate Client (as
+defined below) and
+CSI (in connection
+with the CSI HY
+OTC Swaps (as
+defined below))
+150,000 0.04% 0.04% Connected client
+Haitong Global
+Investment SPC IV -
+Haitong Opportunity
+Fund II S.P.
+(“Haitong
+Opportunity Fund
+II”)
+10,000 0.003% 0.003% Connected client
+Guotai Junan
+Investments (Hong
+Kong) Limited
+5,000 0.001% 0.001% Connected client
+Valuable Investment
+Limited
+37,500 0.01% 0.01% Connected client
+Notes:
+1. The number of Offer Shares allocated to the relevant investors listed in this subsection only represents the number
+of Offer Shares allocated to the investors as placees in the International Offering. For allocations of Offer Shares
+to the relevant investors as Cornerstone Investors, please refer to the section headed “Allotment Results Details –
+International Offer – Cornerstone Investors” in this announcement. For details of the consent under Chapter 4.15
+of the Guide for New Listing Applicants in relation to allocations of further H Shares to the existing Shareholders
+and/or their close associates and Cornerstone Investors, please refer to the section headed “Others/Additional
+8
+
+
+--- page 9 ---
+Information – Allocations of further H Shares to a close associate of an existing Shareholders and Cornerstone
+Investors with consent under Chapter 4.15 of the Guide for New Listing Applicants” in this announcement.
+2. GF Securities AM and GF Fund HK are members of the same group of companies. GF Securities AM is therefore
+a close associate of GF Fund HK. PSBC Wealth has engaged GF Securities AM, an asset manager that is a qualified
+domestic institutional investor as approved by the relevant PRC authority, to subscribe for and hold such Offer
+Shares on a non -discretionary basis on behalf of PSBC Wealth, in the name of: (i) GFAM ZHONGYOU NO. 4
+ASSET MANAGEMENT ACCOUNT (QDII) ( 廣發資管中郵理財港 股策略 4號單一資產管理計劃 ) and (ii)
+GFAM ZHONGYOU NO. 5 ASSET MANAGEMENT ACCOUNT (QDII) ( 廣發資管中郵理財港股策略5號單一
+資產管理計劃). PSBC Wealth is wholly owned by Postal Savings Bank of China Co., Ltd. (SEHK: 1658) and is
+ultimately controlled by China Post Group Corporation Limited.
+3. GF Securities AM will hold the Offer Shares as product manager on behalf of CIB- GFAM WANXIANG NO.1, with
+the ultimate client being Shenwan Hongyuan Group Co., Ltd. (申萬宏源集團股份有限公司) (the “GF Securities
+AM Ultimate Client AMS ”). Shenwan Hongyuan Securities Co., Ltd. is a wholly -owned subsidiary of Shenwan
+Hongyuan Group Co., Ltd. (Stock Code: 6806).
+4. For details of the consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide for New
+Listing Applicants in relation to allocations to connected clients, please refer to the section headed “Others /
+Additional Information – Placing to connected clients with prior consent under paragraph 1C(1) of the Placing
+Guidelines” in this announcement.
+LOCK-UP UNDERTAKINGS
+Controlling Shareholders
+Name
+Number of
+shares held in
+the Company
+subject to lock-
+up
+undertakings
+upon Listing
+Number of H
+Shares held in
+the Company
+subject to lock-
+up undertakings
+upon Listing
+% of total issued
+H Shares in the
+Company subject
+to lock-up
+undertakings
+upon Listing
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of
+shareholding in
+the Company
+subject to lock-
+up undertakings
+upon Listing
+(assuming the
+Over-allotment
+Option is not
+exercised
+Last day subject
+to the lock-up
+undertakings
+(1)(2)
+Mr. Xiang Wei 203,928,528 203,928,528 50.98% 50.98% 22 March 2027
+Shenzhen
+Yuxuan Prudence
+Technology
+Partnership
+(Limited
+Partnership)
+11,489,819 11,489,819 2.87% 2.87% 22 March 2027
+Shenzhen
+Yuxuan Progress
+Technology
+Partnership
+(Limited
+Partnership)
+2,650,548 2,650,548 0.66% 0.66% 22 March 2027
+Shenzhen
+Yuxuan Growth
+Technology
+Partnership
+(Limited
+Partnership)
+2,091,006 2,091,006 0.52% 0.52% 22 March 2027
+Total 220,159,901 220,159,901 55.04% 55.04%
+Note:
+9
+
+
+--- page 10 ---
+Name
+Number of
+shares held in
+the Company
+subject to lock-
+up
+undertakings
+upon Listing
+Number of H
+Shares held in
+the Company
+subject to lock-
+up undertakings
+upon Listing
+% of total issued
+H Shares in the
+Company subject
+to lock-up
+undertakings
+upon Listing
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of
+shareholding in
+the Company
+subject to lock-
+up undertakings
+upon Listing
+(assuming the
+Over-allotment
+Option is not
+exercised
+Last day subject
+to the lock-up
+undertakings
+(1)(2)
+1. The expiry date of the lock -up period is pursuant to the PRC Company Law .
+2. In accordance with the relevant Listing Rule/guidance materials, the required lock-up for the first six-month period
+ends on 22 September 2026 and for the second six-month period ends on 22 March 2027.
+Cornerstone Investors
+ Name
+Number of H
+Shares held in the
+Company subject to
+lock-up
+undertakings upon
+Listing
+% of total issued H
+Shares subject to
+lock-up
+undertakings upon
+Listing (assuming
+the Over-allotment
+Option is not
+exercised)
+% of shareholding in
+the Company subject
+to lock-up
+undertakings upon
+Listing (assuming
+the Over-allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings (1)
+Hao Fund 3,751,900 0.94% 0.94% 22 September 2026
+Great Holding 2,713,900 0.68% 0.68% 22 September 2026
+WT Asset
+Management Limited 1,875,900 0.47% 0.47%
+22 September 2026
+Caitong SEIII 1,802,800 0.45% 0.45% 22 September 2026
+Shanghai Intewise
+ultimate clients and
+CICC FT (in
+connection with
+Shanghai Intewise
+OTC Swaps) 1,346,100 0.34% 0.34%
+22 September 2026
+Foresight 1,201,900 0.30% 0.30% 22 September 2026
+SCGC Capital 1,201,900 0.30% 0.30% 22 September 2026
+Aether Wave Fund
+L.P. 1,125,500 0.28% 0.28%
+22 September 2026
+GF Fund HK 937,900 0.23% 0.23% 22 September 2026
+Shenzhen Kaifeng,
+Changdu Kaifeng
+and CICC FT (in
+connection with the
+Kaifeng OTC Swaps) 721,000 0.18% 0.18%
+22 September 2026
+Wider Huge 244,100 0.06% 0.06% 22 September 2026
+Total 16,922,900 4.23% 4.23%
+Note:
+1. In accordance with the respective Cornerstone Investment Agreement, the required lock -up ends on 2 2 September
+2026. The Cornerstone Investors will cease to be prohibited from disposing of or transferring Shares after the
+indicated date.
+Existing Shareholders (other than the Controlling Shareholders)
+10
+
+
+--- page 11 ---
+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 (assuming the
+Over-allotment Option is
+not exercised)
+Last day subject to the
+lock-up undertakings (1)
+Gongqingcheng Fupeng
+Hongxiang No. 3 Venture
+Capital Partnership
+(Limited Partnership)
+39,405,738 9.85% 22 March 2027
+Ningbo Meishan Bonded
+Port Area Fupeng
+Hongxiang No. 8 Equity
+Investment
+Management Centre
+(Limited Partnership)
+17,514,646 4.38% 22 March 2027
+Haitong Innovation
+Securities Investment Co.,
+Ltd.
+16,069,116 4.02% 22 March 2027
+Yang Jie 15,850,897 3.96% 22 March 2027
+Shenzhen Hongtu No. 1
+Private Equity Investment
+Fund Partnership (Limited
+Partnership)
+8,181,818 2.05% 22 March 2027
+Shenzhen Chaoyue Future
+Venture Capital Partnership
+(Limited Partnership)
+6,860,832 1.72% 22 March 2027
+Hainan Orcas Private
+Equity Investment Fund
+Partnership (Limited
+Partnership)
+4,548,848 1.14% 22 March 2027
+Xiamen Taiya Phase I
+Venture Capital Partnership
+(Limited Partnership)
+3,892,093 0.97% 22 March 2027
+Guosen (Zhuhai) Energy
+Industry Private Equity
+Fund Partnership Enterprise
+(Limited Partnership)
+3,478,800 0.87% 22 March 2027
+Shenzhen Capital Group
+Co., Ltd.
+3,272,725 0.82% 22 March 2027
+Zhuhai Lafang Excellence
+No. 7 Investment Fund
+(Limited Partnership)
+3,083,880 0.77% 22 March 2027
+Jieyang Herun Investment
+Co., Ltd.
+3,083,880 0.77% 22 March 2027
+Shenzhen Nanshan Hongtu
+Equity Investment Fund
+Partnership (Limited
+Partnership)
+2,181,820 0.55% 22 March 2027
+Xuzhou Yongzheng
+Investment Partnership
+(Limited Partnership)
+1,785,335 0.45% 22 March 2027
+Xiamen Guosen Lianfa
+Intelligent Technology
+Industry Private Equity
+Investment Fund
+1,739,509 0.43% 22 March 2027
+11
+
+
+--- page 12 ---
+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 (assuming the
+Over-allotment Option is
+not exercised)
+Last day subject to the
+lock-up undertakings (1)
+Partnership Enterprise
+(Limited Partnership)
+Shenzhen Chiyu Enterprise
+Management
+Partnership (Limited
+Partnership)
+1,739,069 0.43% 22 March 2027
+Shenzhen Chaoyue No. 1
+Investment
+Partnership (Limited
+Partnership)
+1,636,362 0.41% 22 March 2027
+Gong Cuihua 1,542,048 0.39% 22 March 2027
+Jinggangshan Mingcheng
+Feisu Equity Investment
+Partnership (Limited
+Partnership)
+1,090,910 0.27% 22 March 2027
+Jinggangshan Mingcheng
+Ruiying Equity Investment
+Partnership (Limited
+Partnership)
+1,090,910 0.27% 22 March 2027
+Shenzhen Sailvan Network
+Technology Co., Ltd.
+632,911 0.16% 22 March 2027
+Chen Shaofeng 649,272 0.16% 22 March 2027
+Peng Chao 508,680 0.13% 22 March 2027
+Total 139,840,099 38.85%
+Note:
+1. The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Law.
+12
+
+
+--- page 13 ---
+PLACEE CONCENTRATION ANALYSIS
+Placees*
+Number of H Shares
+allotted
+Allotment as % of
+International
+Offering (assuming
+no exercise of the
+Over-allotment
+Option)
+Allotment as % of
+International
+Offering (assuming
+the Over-allotment
+Option is fully
+exercised and new H
+Shares are issued)
+Allotment as % of
+total Offer Shares
+(assuming no
+exercise of the Over-
+allotment Option)
+Allotment as % of
+total Offer Shares
+(assuming the Over-
+allotment Option is
+fully exercised and
+new H Shares are
+issued)
+Number of H Shares
+held upon Listing
+% of total issued
+share capital upon
+Listing (assuming no
+exercise of the Over-
+allotment Option)
+% of total issued
+share capital upon
+Listing (assuming
+the Over-allotment
+Option is fully
+exercised and new H
+Shares are issued)
+Top 1 6,758,600 18.77% 16.09% 16.90% 14.49% 6,758,600 1.69% 1.66%
+Top 5 21,216,600 58.94% 50.52% 53.04% 46.12% 21,216,600 5.30% 5.23%
+Top 10 30,976,800 86.05% 73.75% 77.44% 67.34% 49,162,011 12.29% 12.11%
+Top 25 37,927,400 105.35% 90.30% 94.82% 82.45% 55,673,611 13.92% 13.71%
+Note
+* Ranking of placees is based on the number of Shares allotted to the placees.
+H SHAREHOLDERS CONCENTRATION ANALYSIS
+Placees*
+Number of H
+Shares allotted
+Allotment as % of
+International
+Offering
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Allotment as % of
+International
+Offering
+(assuming the
+Over-allotment
+Option is fully
+exercised and new
+H Shares are
+issued)
+Allotment as % of
+total Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Allotment as % of
+total Offer Shares
+(assuming the
+Over-allotment
+Option is fully
+exercised and new
+H Shares are
+issued)
+Number of H
+Shares held upon
+Listing
+% of total issued
+share capital
+upon Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+% of total issued
+share capital
+upon Listing
+(assuming the
+Over-allotment
+Option is fully
+exercised and new
+H Shares are
+issued)
+Number of
+Shares held
+upon Listing
+Top 1 0 0.00% 0.00% 0.00% 0.00% 220,159,901 55.04% 54.23% 220,159,901
+Top 5 2,401,900 6.67% 5.72% 6.00% 5.22% 330,256,870 82.56% 81.34% 330,256,870
+Top 10 16,569,400 46.03% 39.45% 41.42% 36.02% 361,871,185 90.47% 89.13% 361,871,755
+Top 25 34,238,300 95.11% 81.52% 85.60% 74.43% 392,956,117 98.24% 96.79% 392,956,117
+Note
+* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
+13
+
+
+--- page 14 ---
+SHAREHOLDERS CONCENTRATION ANALYSIS
+Placees*
+Number of H Shares
+allotted
+Allotment as %
+of International
+Offering
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Allotment as %
+of International
+Offering
+(assuming the
+Over-allotment
+Option is fully
+exercised and
+new H Shares
+are issued)
+Allotment as %
+of total Offer
+Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Allotment as %
+of total Offer
+Shares
+(assuming the
+Over-allotment
+Option is fully
+exercised and
+new H Shares
+are issued)
+Number of H
+Shares held
+upon Listing
+Number of Shares held upon
+Listing
+% of total issued
+share capital
+upon Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+% of total issued
+share capital
+upon Listing
+(assuming the
+Over-allotment
+Option is fully
+exercised and
+new H Shares are
+issued)
+Top 1 0 0.00% 0.00% 0.00% 0.00% 220,159,901 220,159,901 55.04% 54.23%
+Top 5 2,401,900 6.67% 5.72% 6.00% 5.22% 330,256,870 330,256,870 82.56% 81.34%
+Top 10 16,569,400 46.03% 39.45% 41.42% 36.02% 361,871,185 361,871,185 90.47% 89.13%
+Top 25 34,238,300 95.11% 81.52% 85.60% 74.43% 392,956,117 392,956,117 98.24% 96.79%
+Note
+* Ranking of Shareholders is based on the number of Shares held by the Shareholders upon Listing.
+14
+
+
+--- page 15 ---
+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 H Shares
+Applied For
+No. of Valid
+Applications Basis of Allotment/Ballot
+Approximate
+Percentage allotted
+of the Total No. of H
+Shares applied for
+Pool A
+100 64,962 650 out of 64,962 to receive 100 Shares 1.00%
+200 25,942 400 out of 25,942 to receive 100 Shares 0.77%
+300 4,603 92 out of 4,603 to receive 100 Shares 0.67%
+400 3,172 76 out of 3,172 to receive 100 Shares 0.60%
+500 4,154 114 out of 4,154 to receive 100 Shares 0.55%
+600 2,222 68 out of 2,222 to receive 100 Shares 0.51%
+700 1,985 67 out of 1,985 to receive 100 Shares 0.48%
+800 2,100 77 out of 2,100 to receive 100 Shares 0.46%
+900 1,341 53 out of 1,341 to receive 100 Shares 0.44%
+1,000 16,443 691 out of 16,443 to receive 100 Shares 0.42%
+1,500 3,520 191 out of 3,520 to receive 100 Shares 0.36%
+2,000 4,367 283 out of 4,367 to receive 100 Shares 0.32%
+2,500 2,056 153 out of 2,056 to receive 100 Shares 0.30%
+3,000 1,726 144 out of 1,726 to receive 100 Shares 0.28%
+3,500 1,242 114 out of 1,242 to receive 100 Shares 0.26%
+4,000 1,228 123 out of 1,228 to receive 100 Shares 0.25%
+4,500 1,101 118 out of 1,101 to receive 100 Shares 0.24%
+5,000 2,308 265 out of 2,308 to receive 100 Shares 0.23%
+6,000 1,596 205 out of 1,596 to receive 100 Shares 0.21%
+7,000 1,378 195 out of 1,378 to receive 100 Shares 0.20%
+8,000 1,328 204 out of 1,328 to receive 100 Shares 0.19%
+9,000 1,158 192 out of 1,158 to receive 100 Shares 0.18%
+10,000 9,058 1,596 out of 9,058 to receive 100 Shares 0.18%
+20,000 4,848 1,316 out of 4,848 to receive 100 Shares 0.14%
+30,000 3,255 1,137 out of 3,255 to receive 100 Shares 0.12%
+40,000 2,379 995 out of 2,379 to receive 100 Shares 0.10%
+50,000 2,179 1,047 out of 2,179 to receive 100 Shares 0.10%
+60,000 1,453 782 out of 1,453 to receive 100 Shares 0.09%
+70,000 1,248 739 out of 1,248 to receive 100 Shares 0.08%
+80,000 1,160 747 out of 1,160 to receive 100 Shares 0.08%
+90,000 993 688 out of 993 to receive 100 Shares 008%
+100,000 8,759 6,478 out of 8,759 to receive 100 Shares 0.07%
+Total 185,264 Total number of Pool A successful applicants: 20,000
+No. of H Shares
+Applied For
+No. of Valid
+Applications Basis of Allotment/Ballot
+Approximate
+Percentage allotted
+of the Total No. of H
+Shares applied for
+15
+
+
+--- page 16 ---
+Pool B
+200,000 6,055 2,422 out of 6,055 to receive 100 Shares 0.07%
+300,000 1,822 1,201 out of 1,822 to receive 100 Shares 0.06%
+400,000 1,031 899 out of 1,031 to receive 100 Shares 0.05%
+500,000 717 39 out of 717 to receive 100 Shares 0.04%
+600,000 341 75 out of 341 to receive 100 Shares 0.04%
+700,000 273 100 out of 273 to receive 100 Shares 0.03%
+800,000 212 107 out of 212 to receive 100 Shares 0.03%
+900,000 157 99 out of 157 to receive 100 Shares 0.03%
+1,000,000 535 399 out of 535 to receive 100 Shares 0.03%
+2,000,000 349 234 out of 349 to receive 100 Shares 0.02%
+Total Total number of Pool B successful applicants: 11,492
+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 H 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.
+OTHERS/ ADDITIONAL INFORMATION
+Allocations of further H Shares to a close associate of an existing Shareholders and Cornerstone Investors
+with consent under Chapter 4.15 of the Guide for New Listing Applicants
+The Company has applied to, and the Stock Exchange has granted, a consent under Chapter 4.15 of the Guide
+for New Listing Applicants to permit the Company to allocate further Offer Shares in the International Offering
+to a close associate of an existing Sh areholder and Cornerstone Investors as placees, subject to the following
+conditions:
+(a) the final offering size of the Global Offering (excluding any additional H Shares which may be issued
+upon exercise of the Over-allotment Option) will be of a total value of at least HK$1 billion as required
+by paragraph 18(i) of Chapter 4.15 of the Guide for New Listing Applicants;
+(b) the Offer Shares allocated to all existing shareholders and their close associates (whether as cornerstone
+investors and/or as placees) as permitted under this exemption do not exceed 30% of the total number
+of the H Shares offered, which is in compliance with paragraph 18(ii) of Chapter 4.15 of the Guide for
+New Listing Applicants; and
+(c) each Director, chief executive and Supervisor of the Company has confirmed that no securities have
+been allocated to them or their respective close associates under the Size -based Exemption as defined
+in the Guide) as required by paragraph 18(iii) of Chapter 4.15 of the Guide for New Listing Applicants.
+Such allocations of Offer Shares are in compliance with all the conditions under the consent granted by the
+Stock Exchange.
+16
+
+
+--- page 17 ---
+For details of the allocations of Offer Shares to existing Shareholders and/or their close associates and
+Cornerstone Investors, please refer to the section headed “Allotment Results Details – International Offer –
+Allottees with waivers/consents obtained” in this announcement.
+Placing to connected clients with prior consent under paragraph 1C(1) of the Placing Guidelines
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, consents under
+paragraph 1C of the Placing Guidelines to permit allocation to connected clients pursuant to the Placing
+Guidelines. The allocation of Offer Shares to suc h connected clients is in compliance with all the conditions
+under the consents granted by the Stock Exchange. Details of the placement to connected clients (including the
+cornerstone tranche and placing tranche) are set out below.
+Connected
+Distributor Connected Client Relationship
+Whether the
+Connected Client
+will
+hold the
+beneficial
+interests of the
+Offer
+Shares on a non-
+discretionary
+basis or
+discretionary
+basis
+for independent
+third
+parties
+Number
+of Offer
+Shares to
+be
+allocated to
+the
+connected
+client
+Approximate
+percentage of
+Offer Shares
+allocated to
+the connected
+client
+(assuming
+no exercise
+of the
+Overallotment
+Option)
+Approximate
+percentage
+of total
+issued share
+capital after
+the Global
+Offering
+(assuming
+no exercise
+of the
+Overallotment
+Option)
+China
+International
+Capital
+Corporation
+Hong Kong
+Securities
+Limited
+(“CICCHKS”)
+Shanghai Intewise
+ultimate clients and
+CICC FT (in
+connection with
+Shanghai Intewise
+OTC Swaps) (1)
+CICC FT is a
+member of the
+same group of
+CICCHKS
+Non-discretionary
+basis
+5,412,500 13.53% 1.35%
+Shenzhen Kaifeng
+and CICC FT (in
+connection with the
+Kaifeng OTC Swaps)
+(2)
+CICC FT is a
+member of the
+same group of
+CICCHKS
+Non-discretionary
+basis
+159,200 0.40% 0.04%
+Changdu Kaifeng and
+CICC FT (in
+connection with the
+Changdu OTC Swaps
+(defined below)) (3)
+CICC FT is a
+member of the
+same group of
+CICCHKS
+Non-discretionary
+basis
+159,300 0.40% 0.04%
+Longrising Ultimate
+Clients (as defined
+below) and CICC FT
+(in connection with
+the Longrising OTC
+Swaps (as defined
+below)) (4)
+CICC FT is a
+member of the
+same group of
+CICCHKS
+Non-discretionary
+basis
+63,400 0.16% 0.02%
+China Merchants
+Securities (HK)
+Co., Limited
+(“CMS”)
+Bosera AM (5) Bosera AM is a
+member of the
+same group of
+companies as
+CMS.
+Discretionary basis 75,000 0.19% 0.02%
+CITIC Securities
+Brokerage (HK)
+Limited (“CSB”)
+China AM HK (6) CSB and China
+AM HK are
+members of the
+Discretionary basis 75,000 0.19% 0.019%
+17
+
+
+--- page 18 ---
+same group of
+companies.
+CSI Panjing Ultimate
+Clients (defined
+below) and CSI (in
+connection with CSI
+Panjing OTC Swaps)
+(7)
+CSI Capital is a
+member of the
+same group of
+companies as
+CSB.
+Non-discretionary
+basis
+84,500 0.21% 0.021%
+CITIC Securities
+Asset Management (8)
+CITIC Asset
+Management is a
+member of the
+same group of
+companies of
+CSB.
+Discretionary basis 10,000 0.03% 0.003%
+CSI HY Capital
+Ultimate Client (as
+defined below) and
+CSI (in connection
+with the CSI HY
+OTC Swaps (as
+defined below)) (9)
+CSI is a member
+of the same
+group of
+companies of
+CSB.
+Non-discretionary
+basis
+150,000 0.38% 0.04%
+Guotai Junan
+Securities (Hong
+Kong) Limited
+(“GTJA
+Securities”)
+ Haitong Opportunity
+Fund II (10)
+Haitong
+Opportunity
+Fund II is
+managed by
+Haitong
+International
+Asset
+Management
+(HK) Limited,
+which is a
+member of the
+same group of
+GTJA Securities.
+Discretionary basis 10,000 0.03% 0.003%
+GTJA Ultimate
+clients (defined
+below) and Guotai
+Junan Investments
+(Hong Kong) Limited
+(“GTJA
+Investments”) (in
+connection with the
+GTJA OTC Swaps
+(defined below)) (11)
+GTJA
+Investments is a
+member of the
+same group of
+GTJA Securities.
+Discretionary basis 5,000 0.01% 0.001%
+Valuable Capital
+Limited
+Pan Haiguang (潘海
+光) and Valuable
+Investment Limited
+(“Valuable
+Investment”) (in
+connection with the
+Valuable OTC Swaps
+(as defined below) (12)
+Valuable
+Investment is a
+member of the
+same group of
+companies as
+Valuable Capital
+Non-discretionary
+basis
+406,000 1.02% 0.10%
+Notes:
+(1) CICC FT and China International Capital Corporation Limited (“ CICCL”) has also entered into a series of cross border
+over-the-counter swap transactions (collectively, the “Intewise OTC Swaps”) with each other, and with Shanghai Intewise
+acting in its capacity as investment manager for and on behalf of Intewi se Jinghong Electronic Technology Private
+Securities Investment Fund (聚鳴景宏電子科 技私募證券投資基金) (“Intewise Jinghong”), Intewise Jiangchuan No. 3
+18
+
+
+--- page 19 ---
+Private Securities Investment Fund ( 聚鳴匠傳 3號私募證券投資基金 ) ( “Intewise Jiangchuan No. 3 ”) and Intewise
+Jiangchuan No. 6 Private Securities Investment Fund (聚鳴匠傳6號私募證券投資基 金) (“Intewise Jiangchuan No. 6”,
+collectively with Intewise Jinghong and Interwise Jiangchuan No. 3, the “Intewise Ultimate Clients”).
+CICC FT will hold the Offer Shares on a non -discretionary basis to hedge the Kaifeng OTC Swaps and Intewise OTC
+Swaps while the economic risks and returns of the underlying Offer Shares are passed to the Kaifeng Ultimate Clients and
+Intewise Ultimate Clien ts, subject to customary fees and commissions. CICC FT and CICCL are members of the same
+group of companies.
+(2) CICC FT and CICCL has entered into a series of cross border over -the-counter swap transactions (collectively, the
+“Shenzhen Kaifeng OTC Swaps ”) with each other, and with Shenzhen Kaifeng acting in its capacity as investment
+manager for and on behalf of Kaifeng Xingrui Equity Strategy No. 1 Securities Investment Private Fund ( 凱豐星睿股票
+策略1號證券投資私募基金 ) ( “Kaifeng Xingrui No. 1 ”) and Kaifeng Macro Strategy No. 10 Securities Investment
+Private Fund ( 凱豐宏觀策略10號證券投資私募基金) (“Kaifeng Strategy No. 10 ”, collectively with Kaifeng Xingrui
+No. 1, the “ Shenzhen Kaifeng Ultimate Clients ”), pursuant to which CICC FT will hold the Offer Shares on a non -
+discretionary basis to hedge the Shenzhen Kaifeng OTC Swaps while the economic risks and returns of the underlying
+Offer Shares are passed to the Shenzhen Kaifeng Ultimate Clients , subject to customary fees and commissions. The
+Shenzhen Kaifeng OTC Swaps will be fully funded by the Shenzhen Kaifeng Ultimate Clients. To the best of CICC FT’s
+knowledge having made all reasonable inquiries, each of the Shenzhen Kaifeng Ultimate Clients is an independent third
+party of the Company and its associates, CICC FT, CICCL, CICCHKS and the companies which are members of the same
+group of CICCHKS. Wu Xing ( 吳星) directly holds 32% interest in Shenzhen Kaifeng and 57.1% interest in Shanghai
+Angyu Enterprise Management Consulting Partnership (Limited Partnership)* ( 上海昂毓企業管理諮詢合夥企業(有
+限合夥)), which in turn holds 20% inter est in Shenzhen Kaifeng. No other single ultimate beneficial owner holds 30%
+or more interest in Shenzhen Kaifeng. Feng Wei (豐偉) and Wu Xing (吳星) holds 53.85% and 46.15% interest in Kaifeng
+No. 1 Fund respectively. No single ultimate beneficial owner holds 30% or more interest in Kaifeng No. 10 Fund.
+(3) CICC FT and CICCL have also entered into a series of cross border over -the-counter swap transactions (collectively, the
+“Changdu Kaifeng OTC Swaps ”) with each other, and with Changdu Kaifeng acting in its capacity as investment
+manager for and on behalf of Kaifeng Macro Hedge No.11 Private Fund ( 凱豐宏觀對沖11號私募基金) (the “Changdu
+Kaifeng Ultimate Clients”), pursuant to which CICC FT will hold the Offer Shares on a non-discretionary basis to hedge
+the Changdu Kaifeng OTC Swaps while the economic risks and returns of the underlying Offer Sh ares are passed to the
+Changdu Keifeng Ultimate Clients, subject to customary fees and commissions. The Changdu Kaifeng OTC Swaps will
+be fully funded by the Changdu Kaifeng Ultimate Clients. To the best of CICC FT’s knowledge having made all reasonable
+inquiries, each of the Changdu Kaifeng Ultimate Clients is an independent third party of the Company and its associates,
+CICC FT, CICCL, CICCHKS and the companies which are members of the same group of CICCHKS. For completeness,
+Changdu Kaifeng is a limited partner of and holds 33.3% partnership interest in Shenzhen Chaoyue Future Venture Capital
+Partnership (Limited Partnership) ( 深圳市超越未來創業投資合夥企業(有限合夥)), an existing 1.91% Shareholder of
+the Company. Wu Xing ( 吳星) holds 50% interest in Changdu Kaifeng. No other single ultimate beneficial owner holds
+30% or more interest in Changdu Kaifeng. No single ultimate beneficial owner holds 30% or more interest in Kaifeng No.
+11 Fund.
+(4) CICC FT and CICCL have ente red into a series of cross border over -the-counter swap transactions (collectively, the
+“Longrising OTC Swaps”) with each other, and with Yuanlesheng Asset Management Co., Ltd. (西藏源樂晟資產管理
+有限公司) (“Longrising”) acting in its capacity as investment manager for and on behalf of Longrising Qiangshu Private
+Securities Investment Fund (源樂晟強樹私募證券投資基金) (“Longrising Qiangshu”) and Longrising Qiangye Private
+Securities Investment Fund ( 源樂晟強業私募證券投資基金 ) ( “Longrising Qiangye ”), collectively with Longrising
+Qiangshu, the “Longrising Ultimate Clients”), pursuant to which CICC FT will hold the Offer Shares on a non -
+discretionary basis to hedge the Longrising OTC Swaps while the economic risks and returns of the underlying Offer
+Shares are passed to the Longrising Ultimate Clients, subject to customary fees and commissions. The Longrising OTC
+Swaps will be fully funded by the Longrising Ultimate Clients . To the best of CICC FT’s knowledge having made all
+reasonable inquiries, each of the Longrising Ultimate Clients is an independent third party of the Company and its
+associates, CICC FT, CICCL, CICCHKS and the companies which are members of the same group of CICCHKS. Zeng
+Xiaojie (曾曉潔) is the only beneficial owner with 30% interest or more in Longrising Qiangshu. Zeng Xiaojie ( 曾曉潔)
+and Hu Caiyang (胡彩陽) are the only beneficial owners with 30% interest or more in Longrising Qiangye.
+(5) Bosera AM will hold the Offer Shares in its capacity as discretionary fund manager managing the sub-funds on behalf of
+its following clients. Each of such clients, and their respective ultimate beneficial owner(s) with 30% interest or more, is,
+to the best knowledge and belief of Bosera AM, an independent third party of the Company, its subsidiaries, its substantial
+shareholders, CMS and the companies which are members of the same group of CMS:
+Name of the sub-funds to which the Offer
+Shares will be allocated
+Whether any investor
+holds 30% or more
+interests in the sub-fund
+Ultimate Beneficial Owner
+Shareholding %
+19
+
+
+--- page 20 ---
+Bosera Hong Kong Equity Plus Fund (SFC
+Authorised Fund)
+No N/A
+Bosera Global Select Equity Fund SP Yes Zhang Lei (張雷): 53.67%
+Bosera China New Opportunities Fund SP No N/A
+Bosera Growth Premium Global Equity
+Strategy Fund SP
+Yes Guo Feng (郭峰): 49.00%
+Bosera Growth Premium Global Equity
+Strategy Fund SP2
+Yes Guangdong Dongfang Precision
+Science & Technology Co., Ltd
+(Ticker: 002611 CH)
+(6) China AM HK is an investment advisor and a delegate of the investment manager of the following underlying clients
+(“China AM HK Ultimate Clients”) and manages assets (in its capacity as an investment advisor of the China AM HK
+Ultimate Clients) and executes trades (in its capacity as delegate of the investment manager of China AM HK Ultimate
+Clients) for and on behalf of China AM HK Ultimate Clients:
+Name of the funds to which the Offer
+Shares will be allocated
+Whether any investor
+holds 30% or more
+interest in the fund
+Ultimate Beneficial Owner with
+30% or more interests and
+Shareholding (%)
+ChinaAMC Select Greater China
+Technology Fund
+Yes Futu Securities International
+(Hong Kong) Limited-client
+account: 52.96%
+ChinaAMC Fund - ChinaAMC China
+Opportunities Fund
+No N/A
+ChinaAMC China Focus Fund Yes Manulife (International) Limited:
+74.02%
+ChinaAMC China Growth Fund (SICAV) Yes Yuanta Securities (HK) Company
+LTD: 72.73%
+ChinaAMC Absolute Return Fund SP Yes Li Fung Ming: 79.16%
+To the best knowledge of China AM HK after making all reasonable enquiries, each of the China AM HK Ultimate Clients
+and the ultimate beneficial owners with 30% or more interest in the relevant China AM HK Ultimate Clients, is an
+independent third party of the Company, the Company’s subsidiaries and substantial shareholders , CSB, China AM HK
+and the companies which are members of the same group companies as CSB.
+(7) CSI and CITIC Securities Company Limited ( 中信証券股份有限公司, 6030.HK) entered into a series of cross border
+over-the-counter swap transactions (“CSI Panjing OTC Swaps”) with each other, and with Shanghai Panjing Investment
+Management Centre (Limited Partnership)* (上海盤京投資管理中心(有限合夥)) acting in its capacity as investment
+manager for and on behalf of PanShi Private Securities Investment Fund* (盤世私募證券投資基金) (“Panshi”), Panjing
+MSCI Phase I Private Securities Investment Fund* ( 盤京明晟1期私募證券投資基金) (“Panjing MCSI”) and Panjing
+Xinghe No. 1 Private Securities Investment Fund* (盤京興和1號私募證券投資基金) (“Panjing Xinghe”, together with
+Panshi and Panjing MSCI as the “CSI Panjing Ultimate Clients”), pursuant to which CSI will hold the Offer Shares on
+a non-discretionary basis to hedge the CSI OTC Swaps while the economic risks and returns of the underlying Offer Shares
+are passed to the CSI Ultimate Clients, subject to customary fees and commissio ns. The CSI OTC Swaps will be fully
+funded by the CSI Ultimate Clients.
+To the best knowledge of CSI having made all reasonable inquiries, Shanghai Panjing is controlled by Zhuang Tao (莊濤
+). Each of the CSI Ultimate Clients is an independent third party of the Company and its associates, CSI and the companies
+which are members of the same group of CITIC Securities Company Limited. No other single ultimate beneficial owner
+holds 30% or more interest in Panshi. Zhuang Tao (莊濤) is the only beneficial owner with 30% interest or more in Panjing
+MCSI and Panjing Xinghe.
+(8) CITIC Asset Management will hold the Offer Shares in its capacity as the discretionary fund manager managing the funds
+on behalf of following clients, each of which, to the best knowledge and belief of CITIC Asset Management, is an
+independent third party of the Company, its subsidiaries, its substantial shareholders, CSB and the companies which are
+members of the same group of CSB:
+Name of the funds to which the Offer
+Shares will be allocated
+Whether any investor
+holds 30% or more
+interest in the fund
+Ultimate Beneficial Owner with
+30% or more interests and
+Shareholding (%)
+CITIC SECURITIES COMPANY
+LIMITED-XINHANG ZHIYUAN NO.1
+(中信証券信航致遠1號集合 資產管理
+計劃)
+No N/A
+CITIC SECURITIES COMPANY No N/A
+20
+
+
+--- page 21 ---
+LIMITED-XINHANG ZHIYUAN NO.3
+(中信証券信航致遠3號集合 資產管理
+計劃)
+CITIC Securities AM-Guibinfengyuan
+No.118 QDII (中信証券資管貴賓豐元
+118號QDII集合資產 管理計劃)
+No N/A
+(9) CSI and CITICS have entered into a series of cross border over -the-counter swap transactions (“CSI HY OTC Swaps”)
+with each other, and with HY Capital Company Limited (“ HY Capital” or “CSI HY Capital Ultimate Client ”), as the
+swap investor, pursuant to which CSI will hold the Offer Shares on a non -discretionary basis to hedge the CSI HY OTC
+Swaps while the economic risks and returns of the underlying Offer Shares are passed to the CSI HY Capital Ultimate
+Client, subject to customary fees and commissions. The CSI HY OTC Swaps will be fully funded by the CSI HY Capital
+Ultimate Client. To the best of CSI’s knowledge having made all reasonable inquiries, Xia Hui and Lu Ang are ultimate
+beneficial owners with 30% or more interest in HY Capital. Each of the CSI HY Capital Ultimate Client and its ultimate
+beneficial owners with 30% or more interest, is an independent third party of the Company, its subsidiaries, its substantial
+shareholders, CSB and the companies which are members of the same group of CSB and its associates.
+(10) Haitong Opportunity Fund II will hold the Offer Shares on behalf of its underlying client on a discretionary basis. To the
+best knowledge, information and belief of Haitong Opportunity Fund II after making all reasonable enquiries, there is no
+ultimate beneficial owner holding 30% interest or more in such underlying client.
+To the best knowledge, information and belief of Haitong Opportunity Fund II after making all reasonable enquiries, its
+underlying client above is an independent third party of Haitong International Asset Management (HK) Limited, GTJA
+Securities] and the companies which are members of the same group of companies as GTJA Securities.
+(11) GTJA Investments shall hold the Offer Shares for hedging purpose as the single underlying asset of several sets of back -
+to-back total return swap transaction (the “GTHT Back-to-back TRS”) to be entered into between GTJA Investments and
+Guotai Haitong Securities Co., Ltd. (the “ GTHT Onshore Parent”) in connection with several total return swap orders
+(the “GTHT Client TRS”) to be entered into by GTHT Onshore Parent and several ultimate clients (the “GTHT Onshore
+Ultimate Client”), respectively. Such GTHT Cli ent TRS is to be fully funded by the GTHT Onshore Ultimate Client.
+GTJA Investments will hold the Offer Shares on a non -discretionary basis for the purpose of hedging the economic
+exposure under the GTHT Back-to-back TRS and GTHT Client TRS only, During the tenor of the GTHT Client TRS, all
+economic returns of the Offer Shares will be passed to the GTHT Onshore Ultimate Clients and all economic losses shall
+be borne by the GTHT Onshore Ultimate Client, subject to the terms and conditions of the GTHT Back -to-back TRS and
+GTHT Client TRS, and GTJA Investments will not take part in any economic return or bear any economic loss in relation
+to the price of the Offer Shares. The GTHT Onshore Ultimate Client may request to redeem the Offer Shares at their own
+discretion, upon which GTJA Investments shall dispose of the Offer Shares and settle the GTHT Back -to-back TRS and
+GTHT Client TRS in cash in accordance with the terms and conditions of the GTHT Back-to-back TRS and GTHT Client
+TRS documents. Due to its interna l policy, GTJA Investments will not exercise the voting right attaching to the Offer
+Shares during the tenor of the GTHT Back-to-back TRS and GTHT Client TRS.
+To the best knowledge, information and belief of GTJA Investments after due enquiry, the GTHT Onshore Ultimate Clients
+and their respective ultimate beneficial owners holding 30% or more interest include: Shanghai Weining Investment
+Management Co, Ltd* (上海衛寧私募基金管理有限公司) (“Shanghai Weining”) acting in its capacity as investment
+manager for and on behalf of Weining Qihang No. 1 Private Securities Investment Fund* (衛甯啟航1號私募證券投資基
+金) ( “Weining Qihang ”), and Shanghai Weining Investment Management Co ,Ltd -Weining Jujiao Private Securities
+Investment Fund* ( 衛寧聚焦私募證券投資基金) (“Weining Jujiao”, collectively with Weining Qihang, the “GTHT
+Onshore Ultimate Client”). Shanghai Weining is owned as to 45% by Fu Chengcheng ( 付誠成) and 35% by Lin Ran (
+林然). Liu Yutao (劉育濤) is an ultimate beneficial owner with over 30% interest in Weining Qihang. Each of Lin Heming
+(林鶴鳴) and Wang Zhangyi (王張懿) is an ultimate beneficial owner with over 30% interest in Weining Jujiao.
+(12) Valuable Investment and Pan Haiguang have entered into a series of cross border over -the-counter swap transactions
+(collectively, the “Valuable OTC Swaps”) with each other, and with Pan Haiguang as the ultimate beneficial owner (the
+“Valuable Ultimate Client”), pursuant to which Valuable Investment will hold the Offer Shares on a non -discretionary
+basis to hedge the Valuable OTC Swaps while the economic risks and returns of the underlying Offer Shares are passed to
+the Valuable Ultimate Clients, subject to customary fees and commission. The Valuable OTC Swaps will be fully funded
+by the Valuable Ultimate Clients. To the best of Valuable Investment’s knowledge having made all reasonable enquiries,
+the Valuable Ultimate Client is an independent third party of the Company and its associates, Valuable Investment and the
+companies which are members of the same group of Valuable Investment.
+21
+
+
+--- page 22 ---
+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 const itute 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 United States Securities Act of 1933, as amended (the “U.S. Securities Act”).
+The securities may not be offered or sold in the United States except pursuant to an exemption from the
+registration requirements of the U.S. Securities Act and in compliance with any applicable state
+securities laws, or outside the Unit ed States unless in compliance with Regulation S under the U.S.
+Securities Act. There will be no 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. The Offer Shares have not been and will not be registered under
+the U.S. Securities Act and may not be offered or sold within the United States except pursuant to an exemption
+from the registration requirements of the U.S. Securities Act.
+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 13 March 2026 issued by FS.COM Limited for detailed information
+about the Global Offering described above before deciding whether or not to invest in the Shares thereby
+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 23 March 2026 ).
+PUBLIC FLOAT
+Immediately following the completion of the Global Offering (before any exercise of the Over -allotment
+Option), 113,280,930 Shares, representing approximately 28.37% of the issued share capital of the Company
+will be held in the public hands, in compliance with Rule 8.08(1)(a) of the Listing Rules.
+The Directors confirm that, immediately following the 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 (as defined in the Listing Rules)
+immediately after the Global Offering; (iii) the three largest public shareholders of the Company do not hold
+more than 50% of the H 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
+Share certificates will only become valid at 8:00 a.m. on Monday, 23 March 2026 provided that (i) the Global
+Offering has become unconditional in all respects at or before that time, and (ii) the right of termination as
+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
+22
+
+
+--- page 23 ---
+Shares prior to the receipt of Share certificates or the Share certificates becoming valid evidence of title do so
+entirely at their own risk.
+Assuming that the Hong Kong Public Offering becomes unconditional at or before 8:00 a.m. in Hong Kong on
+Monday, 23 March 2026, it is expected that dealings in the Shares on the Stock Exchange will commence at
+9:00 a.m. on Monday, 23 March 2026. The Shares will be traded in board lots of 100 Shares each and the stock
+code of the Shares will be 3355.
+By order of the Board
+FS.COM Limited
+Mr. Xiang Wei
+Chairman and executive Director
+Hong Kong, 20 March 2026
+As at the date of this announcement, the board of directors of the Company comprises: Mr. Xiang Wei and Mr.
+Zeng Di as executive directors; Mr. Peng Chao and Mr. Zhao Pan as non-executive directors; and Mr. Ran
+Long, Dr. Guo Fei and Ms. Wang Jing as independent non-executive directors.
+*For identification purpose only
+23
diff --git a/data/extracted_text/03650/allotment_results_summary_2023-07-11_2023071100050.txt b/data/extracted_text/03650/allotment_results_summary_2023-07-11_2023071100050.txt
new file mode 100644
index 0000000..929ab24
--- /dev/null
+++ b/data/extracted_text/03650/allotment_results_summary_2023-07-11_2023071100050.txt
@@ -0,0 +1,1070 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+• The final Offer Price has been determined at HK$28.92 per Offer Share (exclusive of
+brokerage of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of
+0.00565% and AFRC transaction levy of 0.00015%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$28.92 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and estimated expenses payable by the Company in connection with the Global
+Offering, are estimated to be approximately HK$192.0 million. The Company intends to use
+the net proceeds from the Global Offering in accordance with the purposes as set out in the
+section headed “Net Proceeds from the Global Offering” in this announcement.
+• If the Over-allotment Option is exercised in full, the Company will receive additional net
+proceeds of approximately HK$46.8 million for 1,625,700 additional Shares to be issued and
+allotted upon the exercise of the Over-allotment Option after deduction of the underwriting
+fees and commissions and estimated expenses payable by the Company in connection with
+the Global Offering. The allocation of the additional net proceeds will be adjusted on a pro
+rata basis according to the use of proceeds as set out in the section headed “Net Proceeds
+from the Global Offering” in this announcement in the event that the Over-allotment Option
+is exercised.
+Applications and Indications of Interest Received in the Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been over-subscribed. A total of 4,811 valid applications have been received pursuant to the
+Hong Kong Public Offering (being applications made through the White Form eIPO service
+or the CCASS EIPO service) for a total of 3,340,200 Hong Kong Offer Shares, representing
+approximately 3.08 times of the total number of 1,083,900 Hong Kong Offer Shares initially
+available for subscription under the Hong Kong Public Offering.
+• As the over-subscription in the Hong Kong Public Offering is less than 15 times of the
+number of Hong Kong Offer Shares initially available under the Hong Kong Public
+Offering, the reallocation procedures as described in the section headed “Structure of the
+Global Offering — The Hong Kong Public Offering — Reallocation and Clawback” in
+the Prospectus have not been applied. The final number of Offer Shares under the Hong
+Kong Public Offering is 1,083,900 Offer Shares, representing 10% of the total number of
+Offer Shares initially available under the Global Offering (before any exercise of the Over-
+allotment Option), and being allocated to 2,828 successful applicants under the Hong Kong
+Public Offering.
+
+
+--- page 2 ---
+4
+International Offering
+• The Offer Shares initially offered under the International Offering were slightly over-
+subscribed, representing approximately 1.37 times of the total number of Offer Shares
+initially available under the International Offering. The final number of Offer Shares under
+the International Offering is 9,754,700 Shares, representing 90% of the total number of
+Offer Shares initially available under the Global Offering (before any exercise of the Over-
+allotment Option). There has been an over-allocation of 1,625,700 Offer Shares. Please
+refer to the section headed “International Offering — Over-allotment Option” in this
+announcement.
+• There are a total of 111 placees under the International Offering, among which (i) 93 placees,
+representing approximately 83.78% of the total number of placees under the International
+Offering, have been allotted five or fewer board lots of Offer Shares, totaling 9,300 Shares,
+representing approximately 0.10% of the total number of Offer Shares available under the
+International Offering; and (ii) 93 placees have been allotted one board lot of Offer Shares,
+representing approximately 83.78% of the total number of placees under the International
+Offering, totaling 9,300 Shares, representing approximately 0.10% of the total number of the
+Offer Shares available under the International Offering.
+Cornerstone Investors
+• Based on the Offer Price of HK$28.92 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction
+levy of 0.00015%) and pursuant to the Cornerstone Investment Agreements as disclosed
+in the section headed “Cornerstone Investors” in the Prospectus, the Cornerstone Investors
+have subscribed for a total of 2,646,500 Offer Shares, representing approximately 24.42% of
+the number of Offer Shares initially available under the Global Offering and approximately
+0.50% of the Shares in issue immediately following completion of the Global Offering
+(assuming there is no new Shares under the Share Incentive Plans and the Over-allotment
+Option is not exercised). Please refer to the section headed “Cornerstone Investors” in this
+announcement for details relating to the subscription by the Cornerstone Investors.
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted
+to the Company a consent under the Paragraph 5(1) of Appendix 6 to the Listing Rules
+in respect of a connected client of GF Securities (Hong Kong) Brokerage Limited, a Joint
+Bookrunner to subscribe for and hold the Offer Shares on behalf of a Cornerstone Investor.
+Please refer to the sections headed “Waivers and Exemptions” and “Cornerstone Investors” in
+the Prospectus, and the section headed “International Offering — Cornerstone Investors” in
+this announcement for further details.
+Placees with the Consent under Paragraph 5(1) of Appendix 6 to the Listing Rules
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to
+the Company, a consent under paragraph 5(1) of Appendix 6 to the Listing Rules to permit
+the Company to allocate Offer Shares under the International Offering to the placees set out
+in the section headed “International Offering — Placees with the Consent under Paragraph
+5(1) of Appendix 6 to the Listing Rules” in this announcement.
+
+
+--- page 3 ---
+5
+Over-allotment Option
+• In connection with the Global Offering, the Company granted the Over-allotment Option to
+the International Underwriters, exercisable by the Sole Overall Coordinator (for itself and
+on behalf of the International Underwriters), at any time from the Listing Date to Friday,
+August 4, 2023, being the 30th day after the last day for lodging applications under the Hong
+Kong Public Offering, to require us to allot and issue up to an aggregate of 1,625,700 new
+Shares, representing not more than 15% of the Shares initially being offered under the Global
+Offering, at the same price per Offer Share, to cover the over-allocations in the International
+Offering, if any. There has been an over-allocation of 1,625,700 Offer Shares in the
+International Offering and such over-allocation will be settled using Shares to be borrowed
+under the Stock Borrowing Agreement between Persistent Courage Holdings Limited and
+the Stabilizing Manager. Such borrowed Shares will be covered by exercising the Over-
+allotment Option in full or in part, or by making purchases in the secondary market at prices
+that do not exceed the Offer Price or by a combination of these means. In the event the Over-
+allotment Option is exercised, an announcement will be made on the Company’s website at
+https://keep.com/ and the website of the Stock Exchange at www.hkexnews.hk . As of the
+date of this announcement, the Over-allotment Option has not been exercised.
+Lock-up Arrangement
+• The Company, its single largest shareholders, all other existing Shareholders and the
+Cornerstone Investors are subject to certain lock-up restrictions as set out in the section
+headed “Lock-up Arrangement” in this announcement.
+Results of Allocations
+• The final Offer Price, the level of indications of interests in the International Offering,
+the level of applications in the Hong Kong Public Offering and the basis of allocation
+of the Hong Kong Offer Shares are also made available on the Company’s website at
+https://keep.com/ and the website of the Stock Exchange at www.hkexnews.hk .
+• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
+Offering successfully applied for through the White Form eIPO service or through the
+CCASS EIPO service, including the Hong Kong identity card numbers, passport numbers or
+Hong Kong business registration numbers of successful applicants (where applicable) and the
+number of Hong Kong Offer Shares, successfully applied for, will be made available at the
+times and dates and in the manner specified below:
+(i) in the announcement to be posted on our website and the website of the Stock Exchange
+at https://keep.com/ and www.hkexnews.hk , respectively, by no later than 9:00 a.m. on
+Tuesday, July 11, 2023;
+(ii) from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment) with a “search by ID” function on a 24-hour basis
+from 8:00 a.m. on Tuesday, July 11, 2023 to 12:00 midnight on Monday, July 17, 2023; and
+
+
+--- page 4 ---
+6
+(iii) from the allocation results telephone enquiry line by calling +852 2862 8555 between
+9:00 a.m. and 6:00 p.m. on Tuesday, July 11, 2023, Wednesday, July 12, 2023,
+Thursday, July 13, 2023 and Friday, July 14, 2023.
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by White
+Form eIPO ” in this announcement refer to Hong Kong identity card numbers/passport
+numbers/Hong Kong business registration numbers/certificate of incorporation numbers/
+beneficial owner identification codes (if such applications are made by nominees as agent
+for the benefit of another person) whereas those displayed in the section headed “Results of
+Applications Made by Giving Electronic Application Instructions to HKSCC via CCASS”
+in this announcement are provided by CCASS Participants via CCASS. Therefore, the
+identification document numbers shown in the two sections are different in nature. Please
+note that the list of identification document numbers set out in this announcement may not be
+a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants are disclosed. Applicants
+with beneficial names only but not identification document numbers are not disclosed due
+to personal privacy issue as elaborated below. Applicants who applied for the Hong Kong
+Offer Shares through their brokers can consult their brokers to enquire about their application
+results.
+• Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by
+White Form eIPO ” and “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS” are redacted and not all details of applications are
+disclosed in this announcement.
+Despatch/Collection of Share Certificates/e-Refund Payment Instructions/Refund Cheques
+• Applicants who have applied for 300,000 Hong Kong Offer Shares or more through the
+White Form eIPO service and whose application is wholly or partially successful may
+collect Share certificate(s) (where applicable) in person from the Hong Kong Share Registrar,
+Computershare Hong Kong Investor Services Limited, at Shops 1712–1716, 17th Floor,
+Hopewell Centre, 183 Queen’s Road East, Wan Chai, Hong Kong, from 9:00 a.m. to
+1:00 p.m. on Tuesday, July 11, 2023, or any other place or date notified by the Company.
+• Applicants being individuals who are eligible for personal collection cannot authorize any
+other person to make collection on their behalf. Corporate applicants which are eligible
+for personal collection must attend by their authorised representatives bearing letters of
+authorisation from their corporations stamped with the corporations’ chops. Both individuals
+and authorised representatives (if applicable) must produce, at the time of collection,
+evidence of identity acceptable to Computershare Hong Kong Investor Services Limited.
+• Applicants who apply for less than 300,000 Hong Kong Offer Shares through the White
+Form eIPO service, will have their Share certificate(s) (where applicable) sent to the address
+specified in their application instructions on or before Tuesday, July 11, 2023 by ordinary
+post and at their own risk.
+
+
+--- page 5 ---
+7
+• Share certificates for Hong Kong Offer Shares allotted to applicants who applied through the
+White Form eIPO service, which are either not available for personal collection, or which
+are available but are not collected in person within the time specified for collection, are
+expected to be despatched by ordinary post to those entitled to the addresses specified in the
+relevant applications at their own risk on or before Tuesday, July 11, 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC will have their Share certificate(s) issued in the name of HKSCC
+Nominees Limited and deposited directly into CCASS to be credited to their CCASS Investor
+Participant stock accounts or the stock accounts of their designated CCASS Participant who
+gave electronic application instructions on their behalf on Tuesday, July 11, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to them
+with that CCASS Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS may also check the number of Hong Kong Offer Shares
+allocated to them and the amount of refund monies (if any) payable to them via the CCASS
+Phone System and the CCASS Internet System (under the procedures contained in HKSCC’s
+“An Operating Guide for Investor Participants” in effect from time to time). Immediately
+after the crediting of the Hong Kong Offer Shares to the CCASS Investor Participant stock
+accounts and the credit of refund monies to the CCASS Investor Participants bank accounts,
+HKSCC will also make available to the CCASS Investor Participants an activity statement
+showing the amount of Hong Kong Offer Shares credited to their CCASS Investor Participant
+stock accounts and the refund amount credited to their respective designated bank accounts
+(if any).
+• For applicants who have applied for the Hong Kong Offer Shares through the White Form
+eIPO service and paid the application monies through a single bank account, refund monies
+(if any) will be despatched to that bank account in the form of e-Refund payment instructions.
+For applicants who have applied for the Hong Kong Offer Shares through the White Form
+eIPO service and paid the application monies through multiple bank accounts, refund monies
+(if any) will be despatched to the addresses specified in their application instructions in the
+form of refund cheque(s) in favour of the applicant (or, in the case of joint applications, the
+first-named applicant) by ordinary post and at their own risk on or before Tuesday, July 11,
+2023.
+• Refund monies (if any) for applicants who applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants’
+designated bank accounts or the designated bank accounts of their broker or custodian on
+Tuesday, July 11, 2023.
+
+
+--- page 6 ---
+8
+• Share certificates for the Hong Kong Offer Shares are expected to be issued on Tuesday,
+July 11, 2023 but will only become valid evidence of title provided that the Global Offering
+has become unconditional in all respects, and neither of the Underwriting Agreements has
+been terminated in accordance with its terms, prior to 8:00 a.m. on the Listing Date, which
+is expected to be on or around Wednesday, July 12, 2023. Investors who trade Shares on the
+basis of publicly available allocation details before the receipt of share certificates or before
+the share certificates becoming evidence do so entirely at their own risk.
+• No temporary document of title will be issued in respect of the Shares. No receipt will be
+issued for sums paid on application.
+Public Float
+• Immediately after the completion of the Global Offering, approximately 64.84% of the total
+issued Shares of our Company will be counted towards the public float (assuming the Over-
+allotment Option is exercised and no new Shares are issued under the Share Incentive Plans),
+satisfying the minimum percentage prescribed by Rule 8.08 of the Listing Rules.
+• The Directors also confirm that (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 of the Company immediately after the
+Global Offering; (iii) the three largest public Shareholders do not hold more than 50% of the
+Shares held 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
+• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
+a.m. on Wednesday, July 12, 2023 (Hong Kong time), dealings in the Shares on the Stock
+Exchange are expected to commence at 9:00 a.m. on Wednesday, July 12, 2023 (Hong Kong
+time). The Shares will be traded in board lots of 100 Shares each. The stock code of the
+Shares is 3650.
+In view of the 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 Shares.
+
+
+--- page 7 ---
+9
+OFFER PRICE
+The Offer Price has been determined at HK$28.92 per Offer Share (exclusive of brokerage of 1.0%,
+Stock Exchange trading fee of 0.00565%, SFC transaction levy of 0.0027% and AFRC transaction
+levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$28.92 per Offer Share, the net proceeds from the Global Offering
+to be received by the Company, after deduction of underwriting commissions and other estimated
+expenses payable by the Company in connection with the Global Offering, are estimated to be
+approximately HK$192.0 million (assuming the Over-allotment Option is not exercised).
+The Company intends to apply such net proceeds for the following purposes (assuming the Over-
+allotment Option is not exercised):
+(i) Approximately 35% of net proceeds, or approximately HK$67.2 million is expected to be
+used over the next three years for research and development to advance our technological
+capabilities and drive product innovation;
+• Approximately 15% of net proceeds, or approximately HK$28.8 million, is expected to
+be used to continue to attract, retain and incentivize our research and development talents
+to support our research and development initiatives and product innovation and enhance
+the integration of self-branded fitness products with our online fitness content, thereby
+enabling a more seamless experience.
+• Approximately 10% of net proceeds, or approximately HK$19.2 million, is expected to be
+used to continue to invest in Keep smart fitness devices, including conducting continuous
+research and development and adding new features to our existing offerings, and creating
+new and innovative products for users with various fitness needs.
+• Approximately 10% of net proceeds, or approximately HK$19.2 million, is expected
+to be used to continue to invest in artificial intelligence, data analysis and technology
+infrastructure to strengthen our technological capabilities and enhance digital connectivity
+and interaction among platform participants.
+(ii) Approximately 30% of net proceeds, or approximately HK$57.6 million, is expected to
+be used over the next three years for the development and diversification of our fitness
+content;
+• Approximately 12% of net proceeds, or approximately HK$23.0 million, is expected to
+be used to continue to invest in our in-house, vertically integrated content development
+capability by increasing the number of recorded fitness courses and live streaming classes
+and catering to users’ diversified preferences, thereby further driving user engagement.
+
+
+--- page 8 ---
+10
+• Approximately 9% of net proceeds, or approximately HK$17.3 million, is expected to
+be used to expand our fitness content library and enrich users’ experience through other
+innovative initiatives, such as introducing virtual coaches and more gamified features into
+the fitness content.
+• Approximately 6% of net proceeds, or approximately HK$11.5 million, is expected to
+be used to continue to introduce more specialized content and expand into new fitness
+categories by cultivating more fitness influencers on our platform and collaborating with
+more fitness professionals.
+• Approximately 3% of net proceeds, or approximately HK$5.8 million, is expected to
+be used to continue to expand our content offerings by purchasing more valuable and
+exclusive fitness intellectual properties and acquiring qualified third-party content to build
+competitive moats and satisfy the evolving needs of our users.
+(iii) Approximately 25% of net proceeds, or approximately HK$48.0 million, is expected to be
+used over the next three years for the investment in branding and promotion;
+• Approximately 12% of net proceeds, or approximately HK$23.0 million, is expected to be
+used in user acquisition activities to continue to gain mindshare and attract users across
+different ages, areas of interest, and locations.
+• Approximately 10% of net proceeds, or approximately HK$19.2 million, is expected to be
+in branding activities used to continue to promote our brand and strengthen its image and
+influence among users.
+• Approximately 3% of net proceeds, or approximately HK$5.8 million, is expected to be
+used in promotional activities to continue to promote our fitness devices and products
+through placing ads in social media, holding live streaming promotion sessions and
+collaborating with other brands, among others.
+(iv) Approximately 10% of net proceeds, or approximately HK$19.2 million, is expected to be
+used for general corporate purposes and working capital needs.
+If the Over-allotment Option is exercised in full, the Company will receive additional net
+proceeds of approximately HK$46.8 million for 1,627,700 additional Offer Shares to be
+issued and allotted upon the exercise of the Over-allotment Option. In the event that the Over-
+allotment Option is exercised in full, the Company intends to adjust its allocation of the net
+proceeds for the above purposes on a pro rata basis. The Company will issue an appropriate
+announcement if there is any material change to the above proposed use of proceeds. For
+further information, please refer to the section headed “Future Plans and Use of Proceeds” in
+the Prospectus.
+
+
+--- page 9 ---
+11
+UPDATES ON COMMISSIONS AND EXPENSES
+Reference is made to the section headed “Underwriting — Underwriting Arrangements and
+Expenses — Commissions and Expenses” of the Prospectus, where it was disclosed, among other
+things, that (i) the Underwriters would receive an underwriting commission of 3.25% of the
+aggregate Offer Price of all the Offer Shares and a discretionary incentive fee of up to 1.25% of the
+aggregate Offer Price of all the Offer Shares, and (ii) the ratio of such fixed fee and discretionary
+fee payable by the Company to all syndicate members participating in the Global Offering was
+expected to be approximately 72:28 (assuming the discretionary fees will be paid in full).
+For completeness, the Company wishes to inform its Shareholders and prospective investors that
+prior to the commencement of the Hong Kong Public Offering, the Company had, after signing the
+relevant written agreements with syndicate members participating in the Global Offering, allocated
+additional 20% of underwriting commission of the aggregate Offer Price of all the Offer Shares
+(including any Offer Shares to be issued pursuant to the exercise of the Over-allotment Option), to
+one syndicate member. Such additional portion of commission allocated to such syndicate member
+after the signing of the relevant agreements with such syndicate member shall be regarded as
+“discretionary fees” for the purpose of Rules 3A.34 and 3A.36 of the Listing Rules (the “ Fee Re-
+categorization ”).
+Correspondingly, the amount of fixed fees and discretionary fees expected to be paid to syndicate
+members participating in the Global Offering for the purpose of Rules 3A.34 and 3A.36 of the
+Listing Rules of as at the date of the Prospectus should be 2.6% and 1.9%, respectively. The ratio of
+such fixed fee and discretionary fee payable by the Company should, accordingly, be approximately
+58:42 (assuming the discretionary fees will be paid in full). Save for the Fee Re-categorization, the
+information relating to the underwriting arrangements as disclosed in the Prospectus, including but
+not limited to, the total fees payable to the syndicate members and other material information in
+relation to the Global Offering, remain unchanged.
+
+
+--- page 10 ---
+12
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+Hong Kong Public Offering
+The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have been
+over-subscribed. At the close of the application lists at 12:00 noon on Wednesday, July 5, 2023,
+a total of 4,811 valid applications have been received pursuant to the Hong Kong Public Offering
+through the White Form eIPO service and through the CCASS EIPO service for a total of
+3,340,200 Hong Kong Offer Shares, representing approximately 3.08 times of the total number of
+1,083,900 Hong Kong Offer Shares initially available for subscription under the Hong Kong Public
+Offering, among which:
+• 4,805 valid applications in respect of a total of 2,790,200 Hong Kong Offer Shares were for
+the Hong Kong Public Offering with an aggregate subscription amount based on the maximum
+Offer Price of HK$61.46 per Offer Share (excluding brokerage of 1.0%, SFC transaction levy
+of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%)
+of HK$5 million or less, representing approximately 5.15 time of the 542,000 Hong Kong Offer
+Shares initially comprised in Pool A of the Hong Kong Public Offering; and
+• 6 valid applications in respect of a total of 550,000 Hong Kong Offer Shares were for the Hong
+Kong Public Offering with an aggregate subscription amount based on the maximum Offer
+Price of HK$61.46 per Offer Share (excluding brokerage of 1.0%, SFC transaction levy of
+0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%)
+of more than HK$5 million, representing approximately 1.01 time of the 541,900 Hong Kong
+Offer Shares initially comprised in Pool B of the Hong Kong Public Offering.
+No application has been rejected due to invalid application. No multiple or suspected multiple
+application has been identified and rejected. No application has been rejected due to dishonored
+payment. No application for more than 541,900 Hong Kong Offer Shares (being 50% of the Hong
+Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
+As the over-subscription in the Hong Kong Public Offering is less than 15 times of the number of
+Hong Kong Offer Shares initially available under the Hong Kong Public Offering, the reallocation
+procedures as described in the section headed “Structure of the Global Offering — The Hong
+Kong Public Offering — Reallocation and Clawback” in the Prospectus have not been applied.
+The final number of Offer Shares under the Hong Kong Public Offering is 1,083,900 Offer Shares,
+representing 10% of the total number of Offer Shares initially available under the Global Offering
+(before any exercise of the Over-allotment Option), and being allocated to 2,828 successful
+applicants under the Hong Kong Public Offering.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offering”
+below.
+
+
+--- page 11 ---
+13
+International Offering
+The Offer Shares initially offered under the International Offering were slightly over-subscribed,
+representing approximately 1.37 times of the total number of Offer Shares initially available under
+the International Offering. The final number of Offer Shares under the International Offering is
+9,754,700 Shares, representing 90% of the total number of Offer Shares initially available under
+the Global Offering (before any exercise of the Over-allotment Option). There has been an over-
+allocation of 1,625,700 Offer Shares in the International Offering and there are a total of 111
+placees under the International Offering. Please refer to the section headed “International Offering
+— Over-allotment Option” in this announcement.
+There are a total of 111 placees under the International Offering, among which (i) 93 placees,
+representing approximately 83.78% of the total number of placees under the International Offering,
+have been allotted five or fewer board lots of Offer Shares, totaling 9,300 Shares, representing
+approximately 0.10% of the total number of Offer Shares available under the International Offering;
+and (ii) 93 placees have been allotted one board lot of Offer Shares, representing approximately
+83.78% of the total number of placees under the International Offering, totaling 9,300 Shares,
+representing approximately 0.10% of the total number of the Offer Shares available under the
+International Offering.
+Cornerstone Investors
+Based on the Offer Price of HK$28.92 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy
+of 0.00015%) and pursuant to the Cornerstone Investment Agreements as disclosed in the section
+headed “Cornerstone Investors” in the Prospectus, the number of Offer Shares subscribed for by the
+Cornerstone Investors is determined as set out below:
+Assumption the Over-Allotment
+Option is not exercised
+Assumption the Over-Allotment
+Option is fully exercised
+
+Cornerstone
+Investor
+Subscription
+amount
+Number of
+Offer Shares
+to be acquired
+(1)
+Approximately
+% of the
+Offer Shares
+Approximately
+% of the issued
+share capital
+(2)
+Approximately
+% of the
+Offer Shares
+Approximately
+% of the issued
+share capital
+(2)
+(Each as defined
+in the Prospectus)
+Fenda Tech US$5.00 million 1,351,300 12.47% 0.26% 10.84% 0.26%
+Shengde US$2.00 million 540,400 4.99% 0.10% 4.34% 0.10%
+Evere Sports RMB20.00 million 754,800 6.96% 0.14% 6.06% 0.14%
+
+Total HK$76.54 million
+(3)
+2,646,500 24.42% 0.50% 21.23% 0.50%
+
+Notes:
+(1) Rounded down to the nearest whole board lot of 100 Shares. Calculated based on the exchange rate set out in “Information
+about this document and the Global Offering — Exchange rate conversion” in the Prospectus.
+(2) Immediately following the Global Offering, assuming the Presumptions.
+(3) Calculated based on the conversion rates of RMB0.9161 to HK$1.00; RMB7.1596 to US$1.00; and HK$7.8153 to US$1.00,
+as applicable.
+
+
+--- page 12 ---
+14
+To the Company’s best knowledge, each Cornerstone Investor (and, for Cornerstone Investors
+who will subscribe for our Offer Shares through QDII or ODLP, each of such QDII or QDLP) is:
+(i) an Independent Third Party and is not connected person; (ii) independent of other Cornerstone
+Investors; (iii) not accustomed to taking instructions from us, our Directors, chief executive,
+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 the Shares registered
+in their name or otherwise held by them; and (iv) not financed by us, our Directors, chief executive,
+substantial shareholders, existing Shareholders or any of its subsidiaries or their respective close
+associates.
+To the extent that any Cornerstone Investor has engaged a QDII or QDLP to subscribe for the
+relevant Offer Shares on its behalf, such Cornerstone Investor will procure such QDII or QDLP to
+comply with the terms of its Cornerstone Investment Agreement in order to ensure the compliance
+of such Cornerstone Investor with its obligations under its Cornerstone Investment Agreement.
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a written
+consent under paragraph 5(1) of Appendix 6 to the Listing Rules to permit a connected client of GF
+Securities (Hong Kong) Brokerage Limited, a Joint Bookrunner, to subscribe for and hold the Offer
+Shares on behalf of Shengde as a Cornerstone Investor. For further details, please see “Waivers and
+Exemptions” in the Prospectus.
+The Cornerstone Placing will form part of the International Offering, and the Cornerstone Investors
+will not subscribe for any Offer Shares under the Global Offering other than pursuant to the
+Cornerstone Investment Agreements. Immediately following the completion of the Global Offering,
+none of the Cornerstone Investors will become a substantial shareholder (as defined in the Listing
+Rules) of our Company and will not have any Board representation in our Company. The Offer
+Shares to be subscribed by the Cornerstone Investors will rank pari passu in all respect with the
+fully paid Shares in issue and will be counted towards the public float of the Company under Rule
+8.08 of the Listing Rules. The Cornerstone Investors do not have any preferential rights under
+the Cornerstone Investment Agreements compared with other public Shareholders, other than a
+guaranteed allocation of the Offer Shares at the Offer Price.
+Each Cornerstone Investor has, agreed that, it will not, whether directly or indirectly, at any
+time during the period of twelve months (except for Fenda Tech, in the case of which the period
+is six months) following the Listing Date (the “ Lock-up Period ”), dispose of, any of the Offer
+Shares they have purchased pursuant to the relevant Cornerstone Investment Agreements, save
+for certain limited circumstances, such as transfers to any of its wholly-owned subsidiaries which
+will be bound by the same obligations of such Cornerstone Investor, including the Lock-up Period
+restriction.
+Please refer to the section headed “Cornerstone Investors” in the Prospectus for further details
+relating to the Cornerstone Investors.
+
+
+--- page 13 ---
+15
+PLACEES WITH THE CONSENT UNDER PARAGRAPH 5(1) OF
+APPENDIX 6 TO THE LISTING RULES
+Certain Offer Shares were placed to connected clients of some of the Joint Bookrunners or other
+distributors within the meaning of Appendix 6 to the Listing Rules. The Company has applied to
+the Stock Exchange for, and the Stock Exchange has granted, its consent under paragraph 5(1) of
+Appendix 6 to the Listing Rules to permit the Company to allocate such Offer Shares as set out
+below.
+Connected Client
+Connected
+Distributor
+Number of
+Offer Shares
+Placed
+Approximate
+percentage
+of the Offer
+Shares initially
+available under
+the Global
+Offering
+(1)
+Approximate
+percentage of
+the total issued
+share capital of
+the Company
+following the
+completion
+of the Global
+Offering
+(2)
+Relationship with the Connected
+Client and Connected Distributor
+GF Securities Asset
+Management (Guangdong)
+Co., Ltd.
+(3)
+ ( ᄿ೯ᗇՎ༟
+ପ၍ଣ (؇ ) ʮ
+̡ , “GF Securities Asset
+Management ”) (as a QDII
+Manager, subscribing for
+and holding the Shares on
+behalf of a Cornerstone
+Investor, Shengde)
+GF Securities
+(Hong Kong)
+Brokerage Limited
+(“GF HK”), a Joint
+Bookrunner
+540,400 4.99% 0.10% GF Securities Asset Management
+is a direct wholly-owned subsidiary
+of GF Securities Co., Ltd. (Stock
+Code: 1776) (“ GF Securities ”)
+and GF HK is an indirect wholly-
+owned subsidiary of GF Securities.
+Therefore, each of GF Securities
+Asset Management and GF HK
+is a member of the same group of
+companies.
+Orient Asset Management
+(Hong Kong) Limited
+(“Orient AM ”)
+(4)
+Orient Securities
+(Hong Kong)
+Limited (“ Orient
+Securities ”)
+1,337,000 12.34% 0.25% Orient AM is a directly wholly-
+owned subsidiary of Orient Securities
+International Financial Group Limited
+and Orient Securities is a directly
+wholly-owned subsidiary of Orient
+Securities International Financial
+Group Limited. Therefore, each of
+Orient AM and Orient Securities
+is a member of the same group of
+companies.
+Notes:
+(1) Assuming the Over-allotment Option is not exercised.
+(2) Assuming the Over-allotment Option is not exercised and excluding shares to be issued under the Share Incentive Plans.
+(3) GF Securities Asset Management was engaged by a Cornerstone Investor, Shengde, as its asset manager on a discretionary
+basis, to subscribe for and hold the relevant Offer Shares on behalf of the Cornerstone Investor, Shengde, under the
+respective Cornerstone Investment Agreement. For the ultimate beneficial owner of Shengde, please refer to the section
+headed “Cornerstone Investors” in the Prospectus.
+(4) Orient AM, acting as an investment manager, is a connected client of Orient Securities (a sub-broker of the Global Offering)
+within the meaning of the Placing Guidelines. Orient AM shall hold the Offer Shares for and on behalf of an independent
+third party on a discretionary basis.
+Save as disclosed above, no Offer Shares placed by or through the Sole Global Coordinator, the
+Joint Bookrunners or the Underwriters under the Global Offering have been placed to applicants
+who are core connected persons (as defined in the Listing Rules) or Directors of the Company, or
+to any connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons set
+out in paragraph 5(2) of Appendix 6 to the Listing Rules, whether in their own names or through
+nominees. The International Offering is in compliance with Appendix 6 to the Listing Rules.
+
+
+--- page 14 ---
+16
+The Directors confirm that (a) no placee will, individually, be placed more than 10% of the enlarged
+issued share capital of the Company immediately after the Global Offering; (b) there will not be
+any new substantial shareholder (as defined in the Listing Rules) of the Company immediately
+after the Global Offering; (c) the number of Shares in public hands will satisfy the minimum
+percentage as required by Rule 8.08(1) of the Listing Rules; (d) the three largest public shareholders
+of the Company do not hold more than 50% of the Shares in public hands at the time of Listing
+in compliance with Rules 8.08(3) and 8.24 of the Listing Rules; and (e) there will be at least 300
+Shareholders at the time of Listing in compliance with Rule 8.08(2) of the Listing Rules.
+The Directors confirm that, to the best of their knowledge, information and belief, none of the Offer
+Shares subscribed by the placees and the public has been financed directly or indirectly by any
+of the Directors, chief executive of the Company, existing shareholders, substantial shareholders
+and single largest shareholders of the Company or any of its subsidiaries or their respective
+close associates, and none of the placees and the public who has purchased the Offer Shares is
+accustomed to taking instructions from any of the Directors, chief executive of the Company,
+existing shareholders, substantial shareholders and single largest shareholders of the Company 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.
+OVER-ALLOTMENT OPTION
+In connection with the Global Offering, the Company granted the Over-allotment Option to the
+International Underwriters, exercisable by the Sole Overall Coordinator (for itself and on behalf of
+the International Underwriters), at any time from the Listing Date to Friday, August 4, 2023, being
+the 30th day after the last day for lodging applications under the Hong Kong Public Offering, to
+require us to allot and issue up to an aggregate of 1,625,700 new Shares, representing 15% of the
+Shares initially being offered under the Global Offering, at the same price per Offer Share under
+the International Offering, to cover the over-allocations in the International Offering, if any. There
+has been an over-allocation of 1,625,700 Offer Shares in the International Offering and such over-
+allocation will be settled using Shares to be borrowed under the Stock Borrowing Agreement
+between Persistent Courage Holdings Limited and the Stabilizing Manager. Such borrowed Shares
+will be covered by exercising the Over-allotment Option or by making purchases in the secondary
+market at prices that do not exceed the Offer Price or by a combination of these means. In the event
+the Over-allotment Option is exercised, an announcement will be made on the Company’s website
+at https://keep.com/ and the website of the Stock Exchange at www.hkexnews.hk . As of the date
+of this announcement, the Over-allotment Option has not been exercised.
+
+
+--- page 15 ---
+17
+LOCK-UP ARRANGEMENT
+Each of the Company, its single largest shareholders, other existing Shareholders, and the
+Cornerstone Investors is subject to certain arrangements in relation to the Shares (the “ Lock-up
+Arrangement ”). The major terms of the Lock-up Arrangement are as follows:
+Name
+Number of
+Shares to
+the Lock-up
+Arrangement
+Approximate
+percentage of
+the total issued
+share capital of
+the Company
+following the
+completion
+of the Global
+Offering which
+are subject to
+the Lock-up
+Arrangement
+(1)
+Lock-up period
+The Company
+(2)
+(subject to lock-up obligations pursuant to
+the Listing Rules and the Hong Kong
+Underwriting Agreement)
+N/A N/A July 12, 2023 to
+January 12, 2024
+The single largest shareholder(s)
+(3)
+(subject to lock-up obligations pursuant to
+(i) the Listing Rules, (ii) the Hong Kong
+Underwriting Agreement and
+(iii) the shareholders’ agreement)
+87,379,118 16.62% July 5, 2023 to
+January 12, 2024
+All existing Shareholders
+(4)
+(subject to lock-up obligations pursuant to
+the shareholders’ agreement dated
+December 3, 2021)
+427,454,269
+(5)
+81.32% July 5, 2023 to
+January 1, 2024
+Fenda Tech (Cornerstone Investor)
+(6)
+(subject to lock-up obligations pursuant to
+the Cornerstone Investment Agreement)
+1,351,300 0.26% July 12, 2023 to
+January 12, 2024
+Other Cornerstone Investors
+(6)
+(subject to lock-up obligations pursuant to
+the Cornerstone Investment Agreements)
+1,295,200 0.24% July 12, 2023 to
+July 12, 2024
+Grand Total 517,479,887 98.44% N/A
+
+
+--- page 16 ---
+18
+Notes:
+(1) Assuming the Over-allotment Option is not exercised and no Shares are issued under the Share Incentive Plans.
+(2) The Company may not issue Shares prior to the indicated date except otherwise permitted by the Listing Rules.
+(3) The single largest shareholders of the Company are subject to (i) lock up restrictions for a period ending six-months from the
+Listing Date (the “ First Six-Month Period ”) in accordance with the terms specified under Rule 10.07(1)(a) of the Listing
+Rules and (ii) the lock-up restrictions under the shareholders agreement, as existing Shareholders. Mr. Wang Ning is also
+subject to the lock-up undertaking under the Hong Kong Underwriting Agreement that he will not, at any time during the
+First Six-Month Period, and procure his controlled entities not to, dispose of, nor enter into any agreement to dispose of
+or otherwise create any options, rights, interests or encumbrances in respect of, any securities of the Company in respect
+of which he is (or his controlled entities are) shown in the Prospectus to be the beneficial owner(s), unless it is otherwise
+permitted under Rule 10.07 of the Listing Rules.
+For the details of the lock-up arrangement of the single largest shareholders of the Company, please refer to the paragraphs
+headed “Underwriting — Undertakings to the Stock Exchange Pursuant to the Listing Rules — Undertakings by the single
+largest shareholders of the Company” and “Underwriting — Undertakings Pursuant to the Hong Kong Underwriting
+Agreement — Undertakings by Mr. Wang Ning” in the Prospectus.
+(4) Pursuant to the Tenth Amended and Restated Shareholders Agreement dated December 3, 2021, each Shareholder (including
+the single largest shareholders of the Company) has agreed, upon request by the Company, to lock-up the Shares that they
+hold as of and upon the Listing Date for a period of 180 days commencing from and including the Price Determination Date.
+(5) Calculated based on the exclusion of 87,379,118 Shares owned by the single largest shareholders of the Company. For the
+avoidance of doubt, the single largest shareholders of the Company, as existing Shareholders, are also subject to the lock-
+up restrictions under the shareholders agreement. For details of the lock-up arrangement of the existing Shareholders, please
+refer to the paragraph headed “History, Reorganization and Corporate Structure — Lock-up of Existing Shareholders” in the
+Prospectus.
+(6) For details of the lock-up arrangement of the Cornerstone Investors, please refer to the paragraph headed “Cornerstone
+Investor — Restriction on Disposals by the Cornerstone Investors” in the Prospectus.
+
+
+--- page 17 ---
+19
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure and the
+Global Offering — Conditions of the Global Offering” in the Prospectus, 4,811 valid applications
+made by the public through the White Form eIPO service and the CCASS EIPO service 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
+100 3,178 1,272 out of 3,178 to receive 100 Shares 40.03%
+200 378 301 out of 378 to receive 100 Shares 39.81%
+300 203 100 Shares 33.33%
+400 91 100 Shares plus 29 out of 91 to receive additional 100 Shares 32.97%
+500 162 100 Shares plus 97 out of 162 to receive additional 100 Shares 31.98%
+600 53 100 Shares plus 46 out of 53 to receive additional 100 Shares 31.13%
+700 24 200 Shares 28.57%
+800 139 200 Shares plus 37 out of 139 to receive additional 100 Shares 28.33%
+900 18 200 Shares plus 9 out of 18 to receive additional 100 Shares 27.78%
+1,000 204 200 Shares plus 153 out of 204 to receive additional 100 Shares 27.50%
+1,500 60 300 Shares 20.00%
+2,000 88 300 Shares plus 56 out of 88 to receive additional 100 Shares 18.18%
+2,500 17 300 Shares plus 16 out of 17 to receive additional 100 Shares 15.76%
+3,000 70 400 Shares 13.33%
+3,500 7 400 Shares plus 4 out of 7 to receive additional 100 Shares 13.06%
+4,000 14 500 Shares 12.50%
+4,500 7 500 Shares plus 4 out of 7 to receive additional 100 Shares 12.38%
+5,000 25 600 Shares 12.00%
+6,000 4 700 Shares 11.67%
+7,000 6 800 Shares 11.43%
+8,000 3 900 Shares 11.25%
+9,000 7 1,000 Shares 11.11%
+10,000 20 1,100 Shares 11.00%
+20,000 18 1,900 Shares 9.50%
+30,000 5 2,700 Shares 9.00%
+40,000 1 3,500 Shares 8.75%
+50,000 2 4,300 Shares 8.60%
+80,000 1 6,800 Shares 8.50%
+4,805 Total number of Pool A successful applicants: 2,822
+
+
+--- page 18 ---
+20
+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
+90,000 5 88,700 Shares 98.56%
+100,000 1 98,400 Shares 98.40%
+6 Total number of Pool B successful applicants: 6
+The final number of Offer Shares comprising the Hong Kong Public Offering is 1,083,900 Shares,
+representing 10% of the total number of Offer Shares initially available under the Global Offering.
+RESULTS OF ALLOCATIONS
+• The final Offer Price, the level of indications of interests in the International Offering, the level
+of applications in the Hong Kong Public Offering and the basis of allocation of the Hong Kong
+Offer Shares are also made available on the Company’s website at https://keep.com/ and the
+website of the Stock Exchange at www.hkexnews.hk .
+• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the White Form eIPO service or through the CCASS EIPO
+service, including the Hong Kong identity card numbers, passport numbers or Hong Kong
+business registration numbers of successful applicants (where applicable) and the number of
+Hong Kong Offer Shares, successfully applied for, will be made available at the times and dates
+and in the manner specified below:
+(i) in the announcement to be posted on our website and the website of the Stock Exchange at
+https://keep.com/ and www.hkexnews.hk , respectively, by no later than 9:00 a.m. on Tuesday,
+July 11, 2023;
+(ii) from the designated results of allocations website at www.iporesults.com.hk (alternatively:
+English https://www.eipo.com.hk/en/Allotment ; Chinese https://www.eipo.com.hk/zh-hk/
+Allotment) with a “search by ID” function on a 24-hour basis from 8:00 a.m. on Tuesday, July
+11, 2023 to 12:00 midnight on Monday, July 17, 2023; and
+(iii) from the allocation results telephone enquiry line by calling +852 2862 8555 between 9:00 a.m.
+and 6:00 p.m. on Tuesday, July 11, 2023, Wednesday, July 12, 2023, Thursday, July 13, 2023
+and Friday, July 14, 2023.
+
+
+--- page 19 ---
+21
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ” in this
+announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong business
+registration numbers/certificate of incorporation numbers/beneficial owner identification codes (if
+such applications are made by nominees as agent for the benefit of another person) whereas those
+displayed in the section headed “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS” in this announcement are provided by CCASS Participants
+via CCASS. Therefore, the identification document numbers shown in the two sections are different
+in nature. Please note that the list of identification document numbers set out in this announcement
+may not be a complete list of successful applicants since only successful applicants whose
+identification document numbers are provided to HKSCC by CCASS Participants are disclosed.
+Applicants with beneficial names only but not identification document numbers are not disclosed
+due to personal privacy issue as elaborated below. Applicants who applied for the Hong Kong Offer
+Shares through their brokers can consult their brokers to enquire about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by White
+Form eIPO ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS” are redacted and not all details of applications are disclosed in this
+announcement.
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee
+Number
+of Shares
+subscribed for
+Number of
+Shares held
+upon Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number of
+Shares held
+upon Listing
+(assuming the
+Over-allotment
+Option is
+exercised in
+full)
+Number
+of Shares
+subscribed for
+as percentage
+of the total
+number of the
+International
+Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number
+of Shares
+subscribed for
+as percentage
+of the total
+number of the
+International
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised in
+full)
+Number
+of Shares
+subscribed for
+as percentage
+of the total
+number of the
+Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number
+of Shares
+subscribed for
+as percentage
+of the total
+number of the
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised in
+full)
+Number of
+Shares held
+upon Listing
+as percentage
+of the total
+issued share
+capital upon
+Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number of
+Shares held
+upon Listing
+as percentage
+of the total
+issued share
+capital upon
+Listing
+(assuming the
+Over-allotment
+Option is
+exercised in
+full)
+Top 1 1,351,300 1,351,300 1,351,300 13.85% 11.87% 12.47% 10.84% 0.26% 0.26%
+Top 5 6,693,300 6,693,300 6,693,300 68.62% 58.81% 61.75% 53.70% 1.27% 1.27%
+Top 10 10,823,100 10,823,100 10,823,100 110.95% 95.10% 99.86% 86.83% 2.06% 2.05%
+Top 20 11,371,300 11,371,300 11,371,300 116.57% 99.92% 104.91% 91.23% 2.16% 2.16%
+Top 25 11,371,800 11,371,800 11,371,800 116.58% 99.92% 104.92% 91.23% 2.16% 2.16%
+
+
+--- page 20 ---
+22
+• Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Shareholder
+Number
+of Shares
+subscribed for
+Number of
+Shares held
+upon Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number of
+Shares held
+upon Listing
+(assuming the
+Over-allotment
+Option is
+exercised in
+full)
+Number
+of Shares
+subscribed for
+as percentage
+of the total
+number of the
+International
+Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number
+of Shares
+subscribed for
+as percentage
+of the total
+number of the
+International
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised in
+full)
+Number
+of Shares
+subscribed for
+as percentage
+of the total
+number of the
+Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number
+of Shares
+subscribed for
+as percentage
+of the total
+number of the
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised in
+full)
+Number of
+Shares held
+upon Listing
+as percentage
+of the total
+issued share
+capital upon
+Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number of
+Shares held
+upon Listing
+as percentage
+of the total
+issued share
+capital upon
+Listing
+(assuming the
+Over-allotment
+Option is
+exercised in
+full)
+Top 1
+Note
+— 87,379,118 87,379,118 0.00% 0.00% 0.00% 0.00% 16.62% 16.57%
+Top 5 — 311,074,418 311,074,418 0.00% 0.00% 0.00% 0.00% 59.18% 58.99%
+Top 10 — 446,226,284 446,226,284 0.00% 0.00% 0.00% 0.00% 84.89% 84.63%
+Top 20 2,688,300 517,521,687 517,521,687 27.56% 23.62% 24.80% 21.57% 98.45% 98.15%
+Top 25 8,997,900 523,831,287 523,831,287 92.24% 79.06% 83.02% 72.19% 99.65% 99.34%
+Note: Upon Listing, Mr. Wang Ning will be the single largest shareholder of the Company, and he will be interested in and
+will control 87,379,118 Shares through Lightmap Limited and Persistent Courage Holdings Limited. Mr. Wang will be
+interested in and will be entitled to exercise 16.62% of the total issued equity interests and voting rights of the issued
+Shares in general meetings of the Company (assuming the Presumptions). Additionally, pursuant to the Voting Proxy
+Agreements, Mr. Wang Ning, through Persistent Courage Holdings Limited, will be entitled to the voting rights attached
+to 21,652,719 Shares representing an aggregate of 4.12% of the Company’s total issued share capital upon Listing
+(assuming the Presumptions). For more details, please refer to the section headed “Voting Proxy Arrangements — History,
+Reorganization, and Corporate Structure” of the Prospectus.
+ In the event that the 21,652,719 Shares subject to the Voting Proxy Arrangements were beneficially owned by Mr. Wang
+Ning, Shareholders and prospective investors should be aware that each percentage in the above shareholding
+concentration analysis shall be subject to change . For illustration purpose, assuming that the 21,652,719 Shares subject
+to the Voting Proxy Arrangements were beneficially owned by Mr. Wang Ning, then the top 25 Shareholders upon the
+Listing will in aggregate hold a total of 525,656,487 Shares, representing approximately 99.9971% of the total issued share
+capital upon Listing (assuming no exercise of the Over-allotment Option) and approximately 99.6888% of the total issued
+share capital upon Listing (assuming the Over-allotment Option is exercised in full).
+In view of the 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 Shares.
diff --git a/data/extracted_text/06082/allotment_results_2025-12-31_2025123102783.txt b/data/extracted_text/06082/allotment_results_2025-12-31_2025123102783.txt
new file mode 100644
index 0000000..e4f2807
--- /dev/null
+++ b/data/extracted_text/06082/allotment_results_2025-12-31_2025123102783.txt
@@ -0,0 +1,3095 @@
+--- page 1 ---
+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.
+Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those
+defined in the prospectus dated Monday, December 22, 2025 (the “Prospectus ”) of Shanghai Biren Technology Co.,
+Ltd. (ʮ̡ ) (the “Company ”).
+This announcement is for information purposes only and does not constitute an offer or an invitation to induce an offer
+by any person to acquire, purchase or subscribe for any of the securities of the Company. This announcement is not a
+prospectus. Potential investors should read the Prospectus for detailed information about the Global Offering described
+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.
+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 or distribution, directly or indirectly, in or into the United States or any other jurisdiction
+where such distribution is prohibited by law, nor is this announcement an offer for sale or solicitation to purchase or
+subscribe for securities in the United States or any other jurisdictions. The Offer Shares have not been and will not
+be registered under the U.S. Securities Act or any state securities laws in the United States and may not be offered,
+sold, pledged or transferred within the United States or to, or for the account or benefit of U.S. persons (as defined
+in Regulation S under the U.S. Securities Act), 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.
+In connection with the Global Offering, China International Capital Corporation Hong Kong Securities Limited, as
+the stabilizing manager (the “Stabilizing Manager ”) (or any person acting for it), on behalf of the Underwriters,
+may over-allocate or effect transactions with a view to stabilizing or supporting the market price of the Shares at a
+level higher than that which might otherwise prevail for a limited period after the Listing Date. However, there is
+no obligation on the Stabilizing Manager (or any person acting for it) to conduct any such stabilizing action. Such
+stabilizing action, if taken, (a) will be conducted at the absolute discretion of the Stabilizing Manager (or any person
+acting for it) and in what the Stabilizing Manager (or any person acting for it) reasonably regards as the best interest
+of our Company, (b) may be discontinued at any time, and (c) is required to be brought to an end within 30 days after
+the last day for lodging applications under the Hong Kong Public Offering (which is Wednesday, 28 January 2026).
+Such stabilization action, if taken, may be effected in all jurisdictions where it is permissible to do so, in each case
+in compliance with all applicable laws, rules and regulatory requirements, including the Securities and Futures (Price
+Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong), as amended, made under the Securities and Futures
+Ordinance (Chapter 571 of the Laws of Hong Kong).
+Potential investors should be aware that no stabilizing action can be taken to support the price of the Shares for longer
+than the stabilization period which begins on the Listing Date, and is expected to expire on Wednesday, 28 January
+2026, the 30th day after the last day for the lodging of applications under the Hong Kong Public Offering. After this
+date, when no further stabilizing action may be taken, demand for the Shares, and therefore the price of the Shares,
+could fall.
+The Hong Kong Offer Shares will be offered to the public in Hong Kong subject to the terms and conditions set out in
+the Prospectus. The Hong Kong Offer Shares will not be offered to any person who is outside Hong Kong and/or not
+resident in Hong Kong. Potential investors of the Offer Shares should note that the Joint Sponsors and the Sponsor-
+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 section 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 Friday, January 2, 2026).
+
+
+--- page 2 ---
+2
+Shanghai Biren Technology Co., Ltd.
+上海壁仞科技股份有限公司
+(A joint stock company incorporated in the People ’s Republic of China with limited liability)
+GLOBAL OFFERING
+Number of Offer Shares under
+the Global Offering
+: 284,846,600 H Shares (taking into account
+the full exercise of the Offer Size
+Adjustment Option and subject to the
+Over-allotment Option)
+Number of Hong Kong Offer Shares : 49,538,600 H Shares (as adjusted after
+reallocation)
+Number of International Offer Shares : 235,308,000 H Shares (taking into account
+the full exercise of the Offer Size
+Adjustment Option, as adjusted after
+reallocation and subject to the Over-
+allotment Option)
+Final Offer Price : HK$19.60 per H Share, plus brokerage of
+1.0%, SFC transaction levy of 0.0027%,
+AFRC transaction levy of 0.00015% and
+Stock Exchange trading fee of 0.00565%
+(payable in full on application
+in Hong Kong dollars, subject to refund)
+Nominal value : RMB0.02 per H Share
+Stock code : 6082
+Joint Sponsors, Sponsor-OCs, Joint Global Coordinators,
+Joint Bookrunners and Joint Lead Managers
+Overall Coordinators, Joint Global Coordinators,
+Joint Bookrunners and Joint Lead Managers
+Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager
+Joint Bookrunner and Joint Lead Manager
+
+
+--- page 3 ---
+1
+
+SHANGHAI BIREN TECHNOLOGY CO., LTD. / 上 海 壁 仞 科 技 股 份 有 限 公 司
+ANNOUNCEMENT OF FINAL OFFER PRICE AND
+ALLOTMENT RESULTS
+
+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 H Shares could move
+substantially even with a small number of H Shares traded and should exercise extreme caution when
+dealing in the Shares.
+SUMMARY
+
+Company information
+Stock code 6082
+Stock short name BIREN TECH
+Dealings commencement date January 2, 2026*
+*see note at the end of the announcement
+
+Price Information
+Final Offer Price HK$19.60
+Maximum Offer Price HK$19.60
+
+Offer Shares and Share Capital
+Number of Offer Shares (before exercise of the Over -
+allotment Option)
+284,846,600
+Final Number of Offer Shares in Public Offer (after
+reallocation)
+49,538,600
+Final Number of Offer Shares in International Offer (after
+reallocation and the full exercise of the Offer Size
+Adjustment Option) *
+235,308,000
+Number of issued shares upon Listing (before exercise of the
+Over-allotment Option)
+2,396,131,700
+* The number of Offer Shares above is determined after taking into account the additional Offer Shares
+issued under the following Offer Size Adjustment Option.
+
+Offer Size Adjustment Option (Upsize option)
+Number of additional shares issued under the option 37,153,800
+- Public Offer 0
+- International Offer 37,153,800
+The Offer Size Adjustment Option has been exercised in full, pursuant to which the Company is issuing
+and allotting 37,153,800 additional Offer Shares, representing approximately 15.0% of the total number
+of Offer Shares initially available under the Global Offering, at the final Offer Price.
+
+Over-allocation
+No. of Offer Shares over-allocated 42,726,800
+- International Offer 42,726,800
+Such over-allocation may be covered by exercising the Over -allotment Option or by making purchases
+in the secondary market at prices that do not exceed the Offer Price or through deferred delivery or a
+combination of these means. In the event the Over -allotment Option is exercised, an announcement will
+be made on the Stock Exchange’s website.
+
+
+--- page 4 ---
+2
+
+Proceeds
+Gross proceeds (Note) HK$5,583.0 million
+Less: Estimated listing expenses payable based on Final
+Offer Price
+HK$(208.5) million
+Net proceeds HK$5,374.5 million
+
+Note: Gross proceeds refers to the amount 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. The
+Company will adjust the allocation of the net proceeds from the exercise of the Offer Size Adjustment Option
+and the exercise of the Over -allotment Option (if any) for the purposes as set out in the section headed
+“Future Plans and Use of Proceeds” of the Prospectus on a pro rata basis.
+
+
+ALLOTMENT RESULTS DETAILS
+PUBLIC OFFER
+
+No. of valid applications 471,116
+No. of successful applications 135,569
+Subscription level 2,347.53 times
+Claw-back triggered Yes
+No. of Offer Shares initially available under the Public Offer 12,384,800
+No. of Offer Shares reallocated from the International Offer (claw-
+back)
+37,153,800
+Final no. of Offer Shares under the Public Offer (after reallocation) 49,538,600
+% of Offer Shares under the Public Offer to the Global Offering 17.39
+
+Note: For details of the final allocation of Shares to the Public Offer , investors can refer to
+www.hkeipo.hk/iporesult to perform a search by identification number or www.hkeipo.hk/iporesult for the full
+list of allottees.
+INTERNATIONAL OFFER
+
+No. of placees 359
+Subscription Level (before taking into account the Offer Size
+Adjustment Option)
+25.95 times
+No. of Offer Shares initially available under the International Offer 235,308,000
+No. of Offer Shares reallocated to the Public Offer (claw-back) 37,153,800
+Final no. of Offer Shares under the International Offer (after
+reallocation and the full exercise of the Offer Size Adjustment
+Option)
+235,308,000
+% of Offer Shares under the International Offer to the Global
+Offering
+82.61%
+
+The Directors confirm that, to the best of their knowledge, information and belief, save for a waiver under Rule
+10.04 of the Listing Rules and consent under paragraph 1C(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 certain e xisting minority shareholders and /or their close associates as
+cornerstone investors or placees, (i) none of the Offer Shares subscribed by the placees and the public have
+
+
+--- page 5 ---
+3
+
+been financed directly or indirectly by the Company, any of the Directors, chief executive of the Company,
+Single Largest Group of Shareholders, substantial Shareholders, 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,
+chief executive of the Company, Single Largest Group of Shareholders , substantial Shareholders, existing
+Shareholders of the Company 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.
+The placees in the International Offer include the following:
+Cornerstone Investors
+
+Investor
+No. of Offer
+Shares
+allocated
+% of Offer
+Shares
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of total issued
+share capital after
+the Global Offering
+(assuming the Over-
+allotment Option is
+not exercised)
+Existing
+shareholders or
+their close
+associates
+3W Fund Management
+Limited (“3W Fund”) 31,769,600 11.15% 1.33% Yes
+Qiming Venture Partners 13,899,200 4.88% 0.58%
+- QM125 Limited 7,942,400 2.79% 0.33% Yes
+- QM120 Limited 5,956,800 2.09% 0.25% Yes
+Aspex Master Fund
+(“AMF”) 11,913,600 4.18% 0.50% No
+WT Asset Management
+Limited (“WT Asset
+Management”) 11,913,600 4.18% 0.50% No
+Hao Great China Focus
+Fund 7,942,400 2.79% 0.33% No
+Ping An Life Insurance
+Company of China, Ltd.
+(“Ping An Life
+Insurance”) 5,956,800 2.09% 0.25% Yes
+Huadeng Technology
+Peak Fortitude Ventures
+Ltd (“Huadeng
+Technology”) 5,956,800 2.09% 0.25% No
+Lion Global Investors
+Limited (“Lion Global”) 5,956,800 2.09% 0.25% No
+Shanghai Greenwoods
+and CICC Financial
+Trading Limited (“CICC
+FT”) (in connection with
+Greenwoods OTC
+Swaps) 5,956,800 2.09% 0.25% No
+MY Asian Opportunities
+Master Fund, L.P. (“MY
+Asian”) 4,765,400 1.67% 0.20% No
+
+
+--- page 6 ---
+4
+
+
+Investor
+No. of Offer
+Shares
+allocated
+% of Offer
+Shares
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of total issued
+share capital after
+the Global Offering
+(assuming the Over-
+allotment Option is
+not exercised)
+Existing
+shareholders or
+their close
+associates
+Eastspring Investments
+(Singapore) Limited
+ (“Eastspring”) 3,971,200 1.39% 0.17% No
+UBS Asset Management
+(Singapore) Ltd. (“UBS
+AM Singapore”) 3,971,200 1.39% 0.17% No
+Taikang Life Insurance
+Co., Ltd (“Taikang
+Life”) 3,971,200 1.39% 0.17% No
+Aspirational China
+Growth GP Limited
+(“Aspirational China
+Growth”) 3,971,200 1.39% 0.17% Yes
+Charoen Pokphand
+Robot Limited
+(“Charoen Pokphand”) 3,971,200 1.39% 0.17% No
+Digital China (HK)
+Limited (神州數碼(香
+港)有限公司) (“Digital
+China”) 3,971,200 1.39% 0.17% No
+Jinxiu 608 and GTJA HK
+(in connection with the
+GTJA Back-to-back TRS
+and Zhonghe
+OTC Swaps) 3,176,800 1.12% 0.13% Yes
+China Southern Asset
+Management Co., Ltd.
+(南方基金管理有限公
+司) (“China Southern”) 3,176,800 1.12% 0.13% No
+Fullgoal Fund 3,176,600 1.12% 0.13%
+Fullgoal Fund
+Management Co.,
+Ltd. (富國基金管理
+有限公司)
+(“Fullgoal Fund”) 1,906,000 0.67% 0.08% No
+Fullgoal Asset
+Management (HK)
+Limited (“Fullgoal
+HK”) 1,270,600 0.45% 0.05% No
+Yeebo Alpha Limited
+(“Yeebo”) 2,581,200 0.91% 0.11% No
+Enhanced Investment
+Products Limited
+(“EIP”) 1,985,600 0.70% 0.08% No
+
+
+--- page 7 ---
+5
+
+
+Investor
+No. of Offer
+Shares
+allocated
+% of Offer
+Shares
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of total issued
+share capital after
+the Global Offering
+(assuming the Over-
+allotment Option is
+not exercised)
+Existing
+shareholders or
+their close
+associates
+Tessy Holding Limited 1,985,600 0.70% 0.08% No
+New Opportunities SPC 1,985,600 0.70% 0.08% Yes
+Total 147,926,400 51.93% 6.17%
+
+
+--- page 8 ---
+6
+
+
+Allotees with Waivers/Consents Obtained
+
+
+Investor
+No. of Offer
+Shares allocated
+% of Offer
+Shares
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of total
+issued share
+capital after the
+Global
+Offering
+(assuming the
+Over-allotment
+Option is not
+exercised) Relationship
+Allotees with waiver from strict compliance with Rule 10.04 of the Listing Rules and consent under
+paragraph 1C(2) of the Placing Guidelines in relation to subscription for H Shares by existing
+minority shareholders and/or its close associates as cornerstone investors and placees Note 1
+Cornerstone Investors
+3W Fund 31,769,600 11.15% 1.33%
+A cornerstone
+investor and a close
+associate of an
+existing minority
+shareholder
+QM120 Limited and
+QM125 Limited 13,899,200 4.88% 0.58%
+QM120 Limited is an
+existing minority
+shareholder.
+QM125 Limited is a
+close associate of
+QM120.
+Ping An Life Insurance 5,956,800 2.09% 0.25%
+A cornerstone
+investor and a close
+associate of an
+existing minority
+shareholder
+Aspirational China
+Growth 3,971,200 1.39% 0.17%
+A cornerstone
+investor and an
+existing minority
+shareholder
+New Opportunities SPC 1,985,600 0.70% 0.08%
+A cornerstone
+investor and a close
+associate of an
+existing minority
+shareholder
+Guotai Junan Investments
+(Hong Kong) Limited
+(“GTJA Investments”)
+(in connection with the
+GTJA Back -to-back TRS
+and Zhonghe OTC Swaps) 3,176,800 1.12% 0.13%
+A cornerstone
+investor and a close
+associate of existing
+minority
+shareholders
+
+
+--- page 9 ---
+7
+
+
+Investor
+No. of Offer
+Shares allocated
+% of Offer
+Shares
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of total
+issued share
+capital after the
+Global
+Offering
+(assuming the
+Over-allotment
+Option is not
+exercised) Relationship
+Also a connected
+client
+Placees
+Black Dragon AP SPV1 1,238,800 0.43% 0.05% A placee and an
+existing minority
+shareholder
+Sino Lion Ventures
+Limited (“Sino Lion”)
+198,400 0.07% 0.01% A placee and a close
+associate of an
+existing minority
+shareholder
+Haitong International
+Asset Management (HK)
+Limited (“Haitong AM”)
+19,800 0.01% 0.00% A placee and a close
+associate of existing
+minority
+shareholders
+Also a connected
+client
+Guotai Junan Investments
+(in connection with the
+GTHT Client TRS)
+(“GTJA Investments”)
+576,400 0.20% 0.02% A placee and a close
+associate of existing
+minority
+shareholders
+Also a connected
+client
+Xinyuan Tianxun
+Navigator Private
+Securities Investment
+Fund ( 芯源天循领航私
+募证券投资基金 )
+(“Xinyuan Tianxun”) (in
+connection with the
+Huatai Client TRS)
+99,200 0.03% 0.00% A placee and a close
+associate of an
+existing minority
+shareholder
+HTI Financial Solutions
+Limited (in connection
+with the HTI TRS)
+(“HTIFSL”)
+4,175,600 1.47% 0.18% A placee and a close
+associate of two
+existing minority
+shareholders
+Also a connected
+client
+
+
+--- page 10 ---
+8
+
+
+Investor
+No. of Offer
+Shares allocated
+% of Offer
+Shares
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of total
+issued share
+capital after the
+Global
+Offering
+(assuming the
+Over-allotment
+Option is not
+exercised) Relationship
+Dream'ee JuneBeast Fund 39,600 0.01% 0.00% A placee and a close
+associate of an
+existing minority
+shareholder
+Benchi Holding Limited 39,600 0.01% 0.00% A placee and a close
+associate of an
+existing minority
+shareholder
+ZhuoLing International
+Limited
+397,000 0.14% 0.02% A placee and a close
+associate of an
+existing minority
+shareholder
+Li Wei (厲偉) 198,400 0.07% 0.01% A placee and a close
+associate of an
+existing minority
+shareholder
+Shanghai Fame Limited 252,000 0.09% 0.01% A placee and a close
+associate of an
+existing minority
+shareholder
+Autumn Thrive Limited 3,971,200 1.39% 0.17% A placee and a close
+associate of an
+existing minority
+shareholder
+Shanghai Hua Hong
+International, Inc.
+2,959,000 1.04% 0.13% A placee and a close
+associate of an
+existing minority
+shareholder
+Lingang Wings Inc 595,600 0.21% 0.03% A placee and a close
+associate of an
+existing minority
+shareholder
+Aquila Composite Fund
+SPC Ltd. - Aquila High
+Frequency Strategy SP
+39,600 0.01% 0.00% A placee and a close
+associate of an
+existing minority
+shareholder
+Allotees with consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the
+Guide for New Listing Applicants in relation to allocations to connected clients Note 2
+
+
+--- page 11 ---
+9
+
+
+Investor
+No. of Offer
+Shares allocated
+% of Offer
+Shares
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of total
+issued share
+capital after the
+Global
+Offering
+(assuming the
+Over-allotment
+Option is not
+exercised) Relationship
+Ping An Life Insurance 5,956,800 2.09% 0.25%
+Cornerstone investor
+and connected client
+CICC FT (in connection
+with Greenwoods OTC
+Swaps and the CICCFT
+OTC Swaps)
+5,956,800 2.09% 0.25%
+Cornerstone investor
+and connected client
+(in connection with
+Greenwoods OTC
+Swaps)
+587,200 0.21% 0.02%
+Connected client (in
+connection with the
+CICCFT OTC
+Swaps)
+CITIC Securities
+International Capital
+Management Limited
+(“CSI”) 443,000 0.16% 0.02% Connected client
+GTJA Investments (in
+connection with the
+Zhonghe OTC Swaps and
+the GTJAI Subscription)
+3,176,800 1.12% 0.13%
+Cornerstone investor
+and connected client
+(in connection with
+Zhonghe OTC
+Swaps)
+576,400 0.20% 0.02%
+Connected client (in
+connection with the
+GTJAI Subscription)
+HTIFSL 4,175,600 1.47% 0.18% Connected client
+Huatai Capital Investment
+Limited (“HTCI”) 460,600 0.16% 0.02% Connected client
+CITIC Securities Asset
+Management Company
+Limited (“CITICS AM”) 7,942,400 2.79% 0.34% Connected client
+China Asset Management
+(Hong Kong) Limited
+(“China AMC HK”) 317,600 0.11% 0.01% Connected client
+China Universal Asset
+Management (Hong
+Kong) Company Limited
+(“China Universal
+(HK)”) 317,600 0.11% 0.01% Connected client
+
+
+--- page 12 ---
+10
+
+
+Investor
+No. of Offer
+Shares allocated
+% of Offer
+Shares
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of total
+issued share
+capital after the
+Global
+Offering
+(assuming the
+Over-allotment
+Option is not
+exercised) Relationship
+Orient Asset Management
+(Hong Kong) Limited
+(“Orient AM”) 8,000 0.00% 0.00% Connected client
+Guosen Securities (HK)
+Asset Management
+Company Limited
+(“Guosen HK AM”) 79,400 0.03% 0.00% Connected client
+ICBC UBS Asset
+Management Co., Ltd.
+(“ICBC UBS”) 37,000 0.01% 0.00% Connected client
+ICBC UBS Asset
+Management
+(International) Company
+Limited ( “ICBC UBS
+(International)”) 2,600 0.00% 0.00% Connected client
+UBS Asset Management
+(Singapore) Ltd. (“UBS
+AM Singapore”) 3,971,200 1.39% 0.17%
+Cornerstone investor
+and connected client
+Haitong International
+Asset Management (HK)
+Limited (“Haitong AM”) 19,800 0.01% 0.00% Connected client
+Haitong International
+Investment Managers
+Limited (“Haitong IIM”) 9,900 0.00% 0.00% Connected client
+Fullgoal Fund 3,176,600 1.12% 0.13%
+Cornerstone investor
+and connected client
+China Southern 3,176,600 1.12% 0.13%
+Cornerstone investor
+and connected client
+Notes:
+
+1. See “Waivers – Waiver Under Rule 10.04 and Consent under Paragraph 1C(2) of Appendix F1 to the
+Listing Rules in respect of Subscriptions of Offer Shares by Existing Shareholders and/or its Close
+Associates as Cornerstone Investors” of the Prospectus and the section headed “Others / Additional
+Information – Placing to existing shareholders and/or its close associates with a prior waiver under
+Rule 10.04 and consent under paragraph 1C(1) of the Placing Guidelines” in this announcement for
+further details.
+
+2. Saved as listed out, t he H Shares placed to such allottees are held on behalf of independent third
+
+
+--- page 13 ---
+11
+
+
+Investor
+No. of Offer
+Shares allocated
+% of Offer
+Shares
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of total
+issued share
+capital after the
+Global
+Offering
+(assuming the
+Over-allotment
+Option is not
+exercised) Relationship
+parties (as defined in Chapter 4.15 of the Guide for New Listing Applicants and are in compliance
+with all the conditions under the consent granted by the St ock Exchange. For details of the consent
+under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide for New Listing
+Applicants in relation to allocations to connected clients, please refer to the section headed “Others
+/ Additional Information – Placing to connected clients with a prior consent under paragraph 1C(1)
+of the Placing Guidelines” in this announcement.
+
+
+LOCK-UP UNDERTAKINGS
+Key Persons (as defined under Rule 18C.14 of the Listing Rules)
+Name Capacity
+Total number
+of Shares
+held in the
+Company
+subject to
+lock–up
+undertakings
+upon Listing
+Number of
+H Shares
+held in the
+Company
+subject to
+lock–up
+undertakin
+gs upon
+Listing
+% of total
+issued H
+Shares after
+the Global
+Offering
+subject to
+lock–up
+undertaking
+s upon
+Listing Note 1
+% of
+shareholdin
+g in the
+Company
+subject to
+lock–up
+undertaking
+s upon
+Listing
+Note 1
+Last day
+subject to
+the lock–
+up
+undertakin
+gs Note 2
+Wen ZHANG
+(“Mr.
+Zhang”)
+Founder of
+the Group, an
+executive
+Director and
+Chief
+Executive
+Officer 183,174,800 – – 7.64%
+January 1,
+2027
+Shanghai
+Biliren
+Enterprise
+Management
+Consulting
+Partnership
+(Limited
+Partnership)*
+(上海壁立仞
+企業管理諮
+詢合夥企業
+(有限合夥))
+(“Shanghai
+Biliren”) Note 3
+Close
+associate of
+Mr. Zhang 191,221,400 – – 7.98%
+January 1,
+2027
+
+
+--- page 14 ---
+12
+
+
+Pathfinder SIIs
+
+Subtotal - 374,396,200 - - 15.63%
+Notes:
+1. Assuming the Over–allotment Option is not exercised.
+2. The lock-up period commencing on the date by reference to which disclosure of its shareholding
+is made in the Prospectus and ending on the date which is 12 months from the Listing Date, i.e.
+January 1, 2027.
+3. Shanghai Biliren is the employee incentive platform of the Group. The Group had granted Share
+Options to selected participants under the Pre –IPO Employee Incentive Scheme for indirect
+limited partnership interests in 31 limited partners of Shanghai Biliren. Four of our Directors
+(including Mr. Zhou HONG, our Chief Technology Officer, and Mr. Linglan ZHANG, our Chief
+Operating Officer, who are also key management and core members of our R&D team) were
+limited partners of four of the limited partners of Shanghai Biliren, including (i) Limited
+Partnership 1 (a limited partner of Shanghai Biliren holding 46.54% of its partnership interests),
+whereby Mr. Zhou HONG, Mr. Linglan ZHANG and Mr. Luting PAN held 35.32%, 22.91% and
+1.28% of the partnership interests of Limited Partnership 1; (ii) Limited Partnership 2 (a limited
+partner of Shanghai Biliren holding approximately 9.08% of its partnership interests), whereby
+Mr. Xiao held 2.53% of the partnership interests of Limited Partnership 2; (iii) Limited
+Partnership 3 (a limited partner of Shanghai Biliren holding 1.95% of its partnership interests),
+whereby Mr. Xiao held 66.89% of the partnership interests of Limited Partnership 3; and (iv)
+Limited Partnership 31 (a limited partner of Shanghai Biliren holding 2.83% of its partnership
+interests), whereby Mr. Luting PAN held 17.23% of the partnership interests of Limited
+Partnership 31. Such partnership interests held by our four executive Directors in the limited
+partners of Shanghai Biliren will be subject to lock–up period ending on the expiry of 12 months
+from the Listing Date. Save as disclosed above, there is no other senior management or key
+management and core members of our R&D team who holds any interest in our Company.
+Name
+Number of
+Shares held in
+the Company
+subject to lock–
+up undertakings
+upon Listing
+Number of H
+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 Note
+1
+% of
+shareholding in
+the Company
+subject to lock–
+up undertakings
+upon Listing
+Note 1
+Last day
+subject to the
+lock–up
+undertakings
+Note 2
+QM120
+Limited 91,773,400 45,886,700 3.96% 3.83%
+January 1,
+2027
+Country
+Garden Venture
+Capital Note 3 66,597,200 – – 2.78%
+January 1,
+2027
+Sky9 Capital
+Note 4 55,270,450 27,635,250 2.39% 2.31%
+January 1,
+2027
+Zhuhai Gree
+Venture Capital
+Investment Co.,
+Ltd. (珠海格力
+創業投資有限
+公司)
+(“Zhuhai
+Gree”) 45,904,650 22,952,300 1.98% 1.92%
+January 1,
+2027
+
+
+--- page 15 ---
+13
+
+
+Existing shareholders
+
+Shenzhen
+Songhe Growth
+Equity
+Investment
+Partnership
+(Limited
+Partnership)
+(深圳市松禾成
+長股權投資合
+夥企業(有限合
+夥))
+(“Shenzhen
+Songhe”) 39,967,350 39,967,350 3.45% 1.67%
+January 1,
+2027
+Subtotal 299,513,050 136,441,600 11.78% 12.50%
+Notes:
+
+1. Each of the Shareholders listed in the above table is a pathfinder SII of the Company as defined
+under Chapter 2.5 of the Guide for New Listing Applicants. Please refer to the section headed
+“History, Development and Corporate Structure – Capitalization of our Company” in the
+Prospectus for further details.
+2. In accordance with Rule 18C.14(2) of the Listing Rules, the required lock–up period commences
+on the date by reference to which disclosure of its shareholding is made in the Prospectus and
+ends on the date which is six month s from the Listing Date , i.e. July 2, 2026. In addition to the
+lock-up requirement under Rule 18C.14(2) of the Listing Rules, all existing Shareholders shall
+not dispose of any of the Shares held by them within the 12 months following the Listing Date, i.e.
+January 2, 2027, as required under the applicable PRC laws.
+3. Includes 33,298,600 Shares held by Foshan Nanhai District Huibi No. 2 Equity Investment
+Partnership (Limited Partnership) ( 佛山市南海區匯碧二號股權投資合夥企業 (有限合夥 ))
+and 33,298,600 Shares held by Shenzhen Country Garden Innovation Investment Co., Ltd. (深圳
+市碧桂園創新投資有限公司).
+4. Includes 29,194,700 Shares held by Sky9 Alpha Limited, 20,400,500 Shares held by Sky9 Capital
+MVP Fund II, L.P. and 5,675,250 Shares held by Shanghai Yunjiu No. 1 Venture Capital
+Investment Partnership (Limited Partnership) (上海雲玖一號創業投資合夥企業(有限合夥)) .
+Name Note 1
+Total number of
+Shares held in the
+Company subject to
+lock–up undertakings
+upon Listing
+Number of H
+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
+Note 2
+% of
+shareholding
+in the
+Company
+subject to
+lock–up
+undertakings
+upon listing
+Note 2
+Last day
+subject to the
+lock–up
+undertakings
+Note 3
+Shanghai
+Shanghe 87,036,150 43,131,824 3.72% 3.63%
+January 1,
+2027
+
+
+--- page 16 ---
+14
+
+Guangzhou
+Industry
+Investment 19,068,800 9,534,400 0.82% 0.80%
+January 1,
+2027
+Knowledge
+City 19,068,800 9,534,400 0.82% 0.80%
+January 1,
+2027
+Zhuhai Da
+Heng Qin 80,717,950 – – 3.37%
+January 1,
+2027
+Yuanqi Liqian 60,446,300 30,223,150 2.61% 2.52%
+January 1,
+2027
+Beijing Yurun 9,401,100 4,700,550 0.41% 0.39%
+January 1,
+2027
+Mr. Liang 65,234,050 – – 2.72%
+January 1,
+2027
+Qingdao
+Huaxin Anchor 62,299,150 31,149,600 2.69% 2.60%
+January 1,
+2027
+Clear Affluent 59,570,100 42,283,800 3.65% 2.49%
+January 1,
+2027
+Linke Bixin 56,752,400 28,376,200 2.45% 2.37%
+January 1,
+2027
+Minsheng
+Tonghui 50,472,950 – – 2.11%
+January 1,
+2027
+Gongqingcheng
+Yunren 11,917,950 848,650 0.07% 0.50%
+January 1,
+2027
+Ningbo
+Meishan
+Xingyinfeng 8,076,500 1,211,500 0.10% 0.34%
+January 1,
+2027
+Gongqingcheng
+Yunzhang 5,958,950 2,979,500 0.26% 0.25%
+January 1,
+2027
+Gongqingcheng
+Fengjue 5,671,650 1,985,100 0.17% 0.24%
+January 1,
+2027
+SME Huaying
+Fund 29,219,700 14,609,850 1.26% 1.22%
+January 1,
+2027
+Jiuyi Zhixin 11,717,100 11,031,350 0.95% 0.49%
+January 1,
+2027
+Hangzhou
+Unicorn 25,114,150 – – 1.05%
+January 1,
+2027
+Turing Anqian
+11,350,500
+ 5,675,250 0.49% 0.47%
+January 1,
+2027
+Turing
+Anchang 10,094,600 – – 0.42%
+January 1,
+2027
+Turing Anchi 2,791,750 – – 0.12%
+January 1,
+2027
+Zhongtong
+Ruide 22,952,300 – – 0.96%
+January 1,
+2027
+Jiaxing Yufeng 12,153,600 – – 0.51%
+January 1,
+2027
+Jiaxing Yuzhen 9,651,750 – – 0.40%
+January 1,
+2027
+Gongqingcheng
+Shenghe 16,295,200 – – 0.68%
+January 1,
+2027
+
+
+--- page 17 ---
+15
+
+Suzhou Glory 11,476,150 5,738,100 0.50% 0.48%
+January 1,
+2027
+Shanghai Qi’an
+Jingjin Private
+Equity
+Fund
+Partnership
+(Limited
+Partnership)
+(上海奇安競進
+私募基金合夥
+企業(有限合
+夥)) 10,094,600 – – 0.42%
+January 1,
+2027
+Changsha
+Qi’an Qilin
+Venture
+Investment
+Fund
+Partnership
+(Limited
+Partnership)
+(長沙奇安麒麟
+創業投資基金
+合夥企業(有限
+合夥)) 1,009,450 – – 0.04%
+January 1,
+2027
+Hainan Nanbai
+Suan
+Technology
+Co., Ltd. (海南
+南佰算科技有
+限公司) 10,094,600 – – 0.42%
+January 1,
+2027
+Xiaobin LIU
+(劉曉斌) 10,094,600 – – 0.42%
+January 1,
+2027
+Qingdao Shuda
+Equity
+Investment
+Fund
+Partnership
+(Limited
+Partnership)
+(青島樹達股權
+投資基金合夥
+企業(有限合
+夥))
+
+9,400,000
+
+
+2,350,000 0.20% 0.39%
+January 1,
+2027
+Xiamen Tanren 8,394,600 – – 0.35%
+January 1,
+2027
+Puhua SME
+Phase II
+(Hangzhou) 8,075,650 – – 0.34%
+January 1,
+2027
+
+
+--- page 18 ---
+16
+
+Venture
+Investment
+Partnership
+(Limited
+Partnership)
+(普華中小二期
+(杭州)創業投
+資合夥企業(有
+限合夥))
+Yancheng
+Huayao
+Zhisuan Phase
+II Venture
+Investment
+Partnership
+(Limited
+Partnership)
+(鹽城華耀智算
+二期創業投資
+合夥企業(有限
+合夥)) 2,220,800 – – 0.09%
+January 1,
+2027
+Jupiter Global
+Master Fund
+Ltd. 7,611,800 – – 0.32%
+January 1,
+2027
+Aspirational
+China Growth
+GP Limited 7,220,250 – – 0.30%
+January 1,
+2027
+Shenzhen
+Times
+Xinchuang No.
+16 Investment
+Partnership
+(Limited
+Partnership)
+(深圳時代信創
+十六號投資合
+夥企業(有限合
+夥)) 6,860,000 – – 0.29%
+January 1,
+2027
+Shenzhen
+Ganshen
+Wenhe Equity
+Investment
+Fund
+Partnership
+(Limited
+Partnership)
+(深圳市贛深文
+合股權投資基 6,810,300 – – 0.28%
+January 1,
+2027
+
+
+--- page 19 ---
+17
+
+金合夥企業
+(有限合 夥))
+Yancheng
+Zhiping 6,481,950 – – 0.27%
+January 1,
+2027
+Kun LAN (蘭
+坤) 6,056,750 – – 0.25%
+January 1,
+2027
+Quanzhou
+Wolun
+Hongshen
+Venture
+Capital
+Investment
+Partnership
+(Limited
+Partnership)
+(泉州沃侖紅燊
+創業投資合夥
+企業(有限合
+夥)) 5,675,250 – – 0.24%
+January 1,
+2027
+Jiantou
+Investment Co.,
+Ltd. (建投投資
+有限責任公司)
+
+5,675,250 – – 0.24%
+January 1,
+2027
+Jiangsu Jianyin
+Investment Co.,
+Ltd. (江蘇建銀
+投資有限公司) 5,197,850 – – 0.22%
+January 1,
+2027
+Li Song
+Foundation
+Company
+Limited (李‧宋
+基金會有限公
+司) 5,047,300 – – 0.21%
+January 1,
+2027
+Shaanxi Jinzi
+Jinji Equity
+Investment
+Partnership
+(Limited
+Partnership)
+(陝西金資金濟
+股權投資合夥
+企業(有限合
+夥))
+
+5,047,300 – – 0.21%
+January 1,
+2027
+Shenzhen
+Jinshi
+Tiancheng
+Technology
+
+5,047,300 – – 0.21%
+January 1,
+2027
+
+
+--- page 20 ---
+18
+
+Investment Co.,
+Ltd.
+(深圳金石天成
+科技投資有限
+公司)
+YOUSU
+GmbH
+
+2,523,650 – – 0.11%
+January 1,
+2027
+Yousu Hong
+Kong Limited
+(游素香港有限
+公司) 2,523,650 – – 0.11%
+January 1,
+2027
+Huaxu
+(Guangzhou)
+Industrial
+Investment
+Fund
+Management
+Partnership
+(Limited
+Partnership)
+(華胥(廣州)產
+業投資基金管
+理合夥企業(有
+限合夥)) 3,028,400 – – 0.13%
+January 1,
+2027
+Chongqing
+Huaxu Private
+Equity
+Investment
+Fund
+Partnership
+(Limited
+Partnership)
+(重慶華胥私募
+股權投資基金
+合夥企業(有限
+合夥)) 2,018,900 – – 0.08%
+January 1,
+2027
+Gongqingcheng
+Fangwei Equity
+Investment
+Partnership
+(Limited
+Partnership)
+(共青城方維股
+權投資合 夥企
+業(有限合夥))
+4,540,200
+ 908,050 0.08% 0.19%
+January 1,
+2027
+Gongqingcheng
+Chongtai Zhihe
+Venture
+Investment 4,414,100 – – 0.18%
+January 1,
+2027
+
+
+--- page 21 ---
+19
+
+Partnership
+(Limited
+Partnership)
+(共青城崇泰智
+核創業投資合
+夥企業(有限合
+夥))
+Julong Jingrun 4,093,450 – – 0.17%
+January 1,
+2027
+Zhenchun
+FANG (方振
+淳) 4,037,850 – – 0.17%
+January 1,
+2027
+Wuhan Huashi
+Huitian Private
+Equity
+Investment
+Fund
+Partnership
+(Limited
+Partnership)
+(武漢華實匯添
+私募股權投資
+基金合夥企業
+(有限合夥)) 3,405,150 – – 0.14%
+January 1,
+2027
+Suzhou
+Xiangzhong
+Venture
+Investment
+Partnership
+(Limited
+Partnership)
+(蘇州祥仲創業
+投資合夥企業
+(有限合夥)) 2,422,700 – – 0.10%
+January 1,
+2027
+Nanjing
+Xiangzhong
+Venture
+Investment
+Partnership
+(Limited
+Partnership)
+(南京祥仲創業
+投資合夥企業
+(有限合夥)) 605,700 – – 0.03%
+January 1,
+2027
+Suzhou Weixin
+Taike Venture
+Investment
+Partnership
+(Limited 2,018,900 – – 0.08%
+January 1,
+2027
+
+
+--- page 22 ---
+20
+
+Partnership)
+(蘇州維新鈦氪
+創業投資合夥
+企業(有限合
+夥))
+Gongqingcheng
+Yintai Jiayi
+Investment
+Partnership
+(Limited
+Partnership)
+(共青城銀泰嘉
+益投資合夥企
+業(有限合夥)) 3,028,400 – – 0.13%
+January 1,
+2027
+Fuzhou
+Innovation &
+Tech Venture
+Investment
+Partnership
+(Limited
+Partnership)
+(福州創新創科
+投資合夥企業
+(有限合夥)) 3,028,400 – – 0.13%
+January 1,
+2027
+Ningbo Fengxi
+Venture
+Investment
+Partnership
+(Limited
+Partnership)
+(寧波豐曦創業
+投資合夥企業
+(有限合夥) 3,028,400 – – 0.13%
+January 1,
+2027
+Zibo Pufeng
+Darun Equity
+Investment
+Fund
+Partnership
+(Limited
+Partnership)
+(淄博普豐達潤
+股權投資基金
+合夥企業(有限
+合夥) 2,577,350 1,288,700 0.11% 0.11%
+January 1,
+2027
+Lighthouse
+Capital (HK)
+Financial 2,166,100 – – 0.09%
+January 1,
+2027
+
+
+--- page 23 ---
+21
+
+Limited (光源
+資本(香港)金
+融有限公司)
+Quanzhou
+Hongzhao
+Qiangxin
+Venture
+Investment
+Partnership
+(Limited
+Partnership)
+(泉州宏兆強芯
+創業投資合夥
+企業(有限合
+夥) 2,018,900 – – 0.08%
+January 1,
+2027
+Champ Earn 49,850,450 49,850,450 4.30% 2.08%
+January 1,
+2027
+PA GCC 47,573,650 47,573,650 4.11% 1.99%
+January 1,
+2027
+Huzhou Jingxin 36,217,700 36,217,700 3.13% 1.51%
+January 1,
+2027
+Lobelia 30,447,100 30,447,100 2.63% 1.27%
+January 1,
+2027
+Jiaxin Zhizao 29,049,500 29,049,500 2.51% 1.21%
+January 1,
+2027
+Jiuyi Xinyuan
+
+14,755,650
+
+14,755,650 1.27% 0.62%
+January 1,
+2027
+Suzhou Yuanqi
+
+13,063,650
+
+13,063,650 1.13% 0.55%
+January 1,
+2027
+Matrice Capital 13,063,650 13,063,650 1.13% 0.55%
+January 1,
+2027
+Tianjin Yuheng 23,280,200 23,280,200 2.01% 0.97%
+January 1,
+2027
+3W Global 20,397,000 20,397,000 1.76% 0.85%
+January 1,
+2027
+MSA Growth 19,029,450 19,029,450 1.64% 0.79%
+January 1,
+2027
+Nantong
+Jianghai Fund 18,882,200 18,882,200 1.63% 0.79%
+January 1,
+2027
+Gaorong
+Kangteng 15,495,850 15,495,850 1.34% 0.65%
+January 1,
+2027
+Gaorong
+Kangyong 2,734,550 2,734,550 0.24% 0.11%
+January 1,
+2027
+Champion
+Forest 17,015,050 17,015,050 1.47% 0.71%
+January 1,
+2027
+Suzhou Juyuan 16,394,500 16,394,500 1.42% 0.68%
+January 1,
+2027
+Maxwise
+Investments 15,223,550 15,223,550 1.31% 0.64%
+January 1,
+2027
+
+
+--- page 24 ---
+22
+
+Limited (萬慧
+投資有限公司)
+Zhihui Unicorn 14,524,750 14,524,750 1.25% 0.61%
+January 1,
+2027
+BAI GmbH 14,490,850 14,490,850 1.25% 0.60%
+January 1,
+2027
+Shanghai GP 12,153,600 12,153,600 1.05% 0.51%
+January 1,
+2027
+Shenzhen
+Qianhai 9,722,900 9,722,900 0.84% 0.41%
+January 1,
+2027
+Praise Fortune 9,514,750 9,514,750 0.82% 0.40%
+January 1,
+2027
+RCIF 9,514,750 9,514,750 0.82% 0.40%
+January 1,
+2027
+Yancheng
+Huayao
+Intelligent
+Computing
+Venture Capital
+Investment
+Partnership
+(Limited
+Partnership)
+(鹽城華耀智算
+創業投資合夥
+企業(有限合
+夥))
+
+5,675,250
+
+5,675,250 0.49% 0.24%
+January 1,
+2027
+Jiaxing
+Guangren 7,721,450 7,721,450 0.67% 0.32%
+January 1,
+2027
+China
+Insurance
+Investment Co.,
+Ltd.
+(中保投資有限
+責任公司) 5,561,750 5,561,750 0.48% 0.23%
+January 1,
+2027
+Nanchang
+Zhengtong
+Equity
+Investment
+Fund
+Partnership
+(Limited
+Partnership)
+(南昌政通股權
+投資基金合夥
+企業(有限合
+夥)) 5,277,950 5,277,950 0.46% 0.22%
+January 1,
+2027
+
+
+--- page 25 ---
+23
+
+
+
+Cornerstone Investors
+Shanghai
+Haitong Zhida
+Private
+Equity
+Investment
+Fund
+Partnership
+(Limited
+Partnership)
+(上海海通智達
+私募投資基金
+合夥企業(有限
+合夥)) 397,250 397,250 0.03% 0.02%
+January 1,
+2027
+Jiaxing
+Benshuo
+Venture Capital
+Investment
+Partnership
+(Limited
+Partnership)
+(嘉興犇碩創業
+投資合夥企業
+(有限合夥))
+
+4,937,450
+
+4,937,450 0.43% 0.21%
+January 1,
+2027
+Black Dragon
+AP SPV1 4,125,900 4,125,900 0.36% 0.17%
+January 1,
+2027
+Shaanxi
+Zhongtou
+Zhanlu Phase II
+Equity
+Investment
+Partnership
+(Limited
+Partnership)
+(陝西眾投湛盧
+二期股權投資
+合夥企業(有限
+合夥)) 2,043,100 2,043,100 0.18% 0.09%
+January 1,
+2027
+Wimzie Zotac
+Limited 1,135,050 1,135,050 0.10% 0.05%
+January 1,
+2027
+Subtotal 1,437,375,850 736,830,424 63.62% 59.99%
+Notes:
+1. Please refer to the Prospectus for further details.
+2. Assuming the Over–allotment Option is not exercised.
+3. The expiry date of the lock–up period shown in the table above is pursuant to applicable PRC
+laws.
+
+
+--- page 26 ---
+24
+
+Name
+Number of Shares held in
+the Company subject to lock-
+up undertakings upon
+Listing
+% of total issued Shares after the
+Global Offering subject to lock -
+up undertakings upon Listing
+(assuming the Over -allotment
+Option is not exercised)
+Last day subject to the
+lock-up undertakings
+Note 2
+3W Fund 31,769,600 1.33% July 1, 2026
+Qiming
+Venture
+Partners 13,899,200 0.58% July 1, 2026
+AMF 11,913,600 0.50% July 1, 2026
+WT Asset
+Management 11,913,600 0.50% July 1, 2026
+Hao Great
+China Focus
+Fund 7,942,400 0.33% July 1, 2026
+Ping An Life
+Insurance 5,956,800 0.25% July 1, 2026
+Huadeng
+Technology 5,956,800 0.25% July 1, 2026
+Lion Global 5,956,800 0.25% July 1, 2026
+CICC FT 5,956,800 0.25% July 1, 2026
+MY Asian 4,765,400 0.20% July 1, 2026
+Eastspring 3,971,200 0.17% July 1, 2026
+UBS AM
+Singapore 3,971,200 0.17% July 1, 2026
+Taikang Life 3,971,200 0.17% July 1, 2026
+Aspirational
+China
+Growth 3,971,200 0.17% July 1, 2026
+Charoen
+Pokphand 3,971,200 0.17% July 1, 2026
+Digital China 3,971,200 0.17% July 1, 2026
+GTJA HK
+ 3,176,800 0.13% July 1, 2026
+China
+Southern 3,176,800 0.13% July 1, 2026
+Fullgoal
+Fund 3,176,600 0.13% July 1, 2026
+Yeebo 2,581,200 0.11% July 1, 2026
+EIP 1,985,600 0.08% July 1, 2026
+Tessy
+Holding
+Limited 1,985,600 0.08% July 1, 2026
+New
+Opportunitie
+s SPC 1,985,600 0.08% July 1, 2026
+Total 147,926,400 6.17%
+
+
+--- page 27 ---
+25
+
+PLACEE CONCENTRATION ANALYSIS
+Placees*
+Number of Shares
+allotted
+
+Allotment as % of
+International Offering
+(assuming no exercise of
+the Over -allotment
+Option)
+Allotment as % of total
+Offer Shares
+(assuming no exercise
+of the Over - allotment
+Option)
+Allotment as % of total Offer
+Shares (assuming the Over -
+allotment Option is fully
+exercised and new Shares are
+issued)
+Allotment as % of
+International Offering
+(assuming full exercise of the
+Over-allotment Option)
+
+Allotment as % of total Offer
+Shares (assuming full
+exercise of the Over -
+allotment Option)
+
+% of total issued share capital
+upon Listing (assuming the
+Over-allotment Option is fully
+exercised and new Shares are
+issued)
+Top 1 31,769,600 13.5013% 11.1532% 1.3259% 11.4265% 9.6985% 1.3026%
+Top 5 77,438,400 32.9094% 27.1860% 3.2318% 27.8521% 23.6400% 3.1752%
+Top 10 111,098,000 47.2139% 39.0027% 4.6366% 39.9583% 33.9155% 4.5553%
+Top 25 171,226,600 72.7670% 60.1119% 7.1460% 61.5846% 52.2712% 7.0208%
+
+Note
+* Ranking of placees is based on the number of Offer Shares allotted to the placees.
+
+SHAREHOLDER CONCENTRATION ANALYSIS
+H
+Shareholders
+*
+Number of H
+Shares allotted
+
+Allotment as % of
+International Offering
+(assuming no exercise
+of the Over -allotment
+Option)
+
+
+Allotment as % of
+International Offering
+(assuming the Over -
+allotment Option is
+fully exercised and
+new Shares are issued)
+Allotment as % of total
+Offer Shares
+(assuming no exercise
+of the Over - allotment
+Option)
+Allotment as % of total
+Offer Shares (assuming
+the Over -allotment
+Option is fully exercised
+and new Shares are
+issued)
+Number of H Shares held
+upon Listing
+
+% of total issued
+share capital upon
+Listing (assuming no
+exercise of the Over -
+allotment Option)
+
+% of total issued share
+capital upon Listing
+(assuming the Over -
+allotment Option is fully
+exercised and new Shares
+are issued)
+Number of Shares held
+upon Listing
+Top 1
+- 0.0000% 0.0000% 0.0000% 0.0000%
+
+- 0.0000% 0.0000%
+
+374,396,200
+Top 5
+13,904,800 5.9092% 4.2448% 4.8815% 4.2448%
+
+144,944,424 6.0491% 5.9431%
+
+731,870,750
+Top 10
+
+17,459,400 7.4198% 5.3299% 6.1294% 5.3299%
+
+255,102,124 10.6464% 10.4599%
+
+1,068,309,15
+0
+
+
+--- page 28 ---
+26
+
+Top 25
+
+59,454,600 25.2667% 18.1500% 20.8725% 18.1500%
+
+694,108,024 28.9679% 28.4604%
+
+1,667,719,55
+0
+Note
+* Ranking of Shareholders is based on the number of Shares held by the Shareholders upon Listing.
+
+
+H SHAREHOLDER CONCENTRATION ANALYSIS
+H
+Shareholders*
+Number of H
+Shares allotted
+
+Allotment as % of
+International Offering
+(assuming no exercise of
+the Over -allotment
+Option)
+
+
+Allotment as % of
+International Offering
+(assuming the Over -
+allotment Option is fully
+exercised and new
+Shares are issued)
+Allotment as % of total
+Offer Shares (assuming
+no exercise of the Over -
+allotment Option)
+Allotment as % of total Offer
+Shares (assuming the Over -
+allotment Option is fully
+exercised and new Shares are
+issued)
+Number of
+Shares held upon Listing
+Number of
+ Shares held upon Listing
+Top 1
+13,899,200 5.9068% 4.8795%
+
+59,785,900 2.4951%
+
+105,632,600 4.4085%
+Top 5
+59,151,400 25.1379% 20.7661%
+
+263,429,000 10.9939%
+
+337,651,900 14.0915%
+Top 10
+59,355,400 25.2246% 20.8377%
+
+467,254,774 19.5004%
+
+644,689,450 26.9054%
+Top 25
+63,828,600 27.1256% 22.4081%
+
+819,512,624 34.2015%
+
+1,105,951,350 46.1557%
+Note
+* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.
+.
+
+
+--- page 29 ---
+27
+
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the Prospectus, 471,116 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
+200 174,816
+
+8,741 out of 174,816 applicants to
+receive 200 H Shares
+5.00%
+400 25,420
+
+1,954 out of 25,420 applicants to receive
+200 H Shares
+3.84%
+600 19,979
+
+1,996 out of 19,979 applicants to receive
+200 H Shares
+3.33%
+800 9,280
+
+1,062 out of 9,280 applicants to receive
+200 H Shares
+2.86%
+1,000 13,714
+
+1,716 out of 13,714 applicants to receive
+200 H Shares
+2.50%
+1,200 6,869
+
+912 out of 6,869 applicants to receive
+200 H Shares
+2.21%
+1,400 8,272
+
+1,194 out of 8,272 applicants to receive
+200 H Shares
+2.06%
+1,600 6,977
+
+1,084 out of 6,977 applicants to receive
+200 H Shares
+1.94%
+1,800 6,525
+
+1,110 out of 6,525 applicants to receive
+200 H Shares
+1.89%
+2,000 35,199
+
+6,495 out of 35,199 applicants to receive
+200 H Shares
+1.85%
+3,000 9,407
+
+2,341 out of 9,407 applicants to receive
+200 H Shares
+1.66%
+4,000 9,206
+
+2,578 out of 9,206 applicants to receive
+200 H Shares
+1.40%
+5,000 11,145
+
+3,357 out of 11,145 applicants to receive
+200 H Shares
+1.20%
+6,000 9,328
+
+2,979 out of 9,328 applicants to receive
+200 H Shares
+1.06%
+7,000 4,560
+
+1,585 out of 4,560 applicants to receive
+200 H Shares
+0.99%
+8,000 4,554
+
+1,702 out of 4,554 applicants to receive
+200 H Shares
+0.93%
+9,000 3,269
+
+1,303 out of 3,269 applicants to receive
+200 H Shares
+0.89%
+10,000 21,045
+
+8,882 out of 21,045 applicants to receive
+200 H Shares
+0.84%
+20,000 12,176
+
+7,502 out of 12,176 applicants to receive
+200 H Shares
+0.62%
+
+
+--- page 30 ---
+28
+
+30,000 7,587
+
+5,833 out of 7,587 applicants to receive
+200 H Shares
+0.51%
+40,000 5,426
+
+4,881 out of 5,426 applicants to receive
+200 H Shares
+0.45%
+50,000 4,914
+
+200 H Shares plus 78 out of 4,914
+applicants to receive an additional 200 H
+Shares
+0.41%
+60,000 3,573
+
+200 H Shares plus 437 out of 3,573
+applicants to receive an additional 200 H
+Shares
+0.37%
+70,000 2,717
+
+200 H Shares plus 600 out of 2,717
+applicants to receive an additional 200 H
+Shares
+0.35%
+80,000 2,493
+
+200 H Shares plus 781 out of 2,493
+applicants to receive an additional 200 H
+Shares
+0.33%
+90,000 1,926
+
+200 H Shares plus 771 out of 1,926
+applicants to receive an additional 200 H
+Shares
+0.31%
+100,000 12,802
+
+200 H Shares plus 6,184 out of 12,802
+applicants to receive an additional 200 H
+Shares
+0.30%
+200,000 8,682 400 H Shares 0.20%
+
+Total 441,861
+Total number of Pool A successful
+applicants: 106,314
+
+POOL B
+300,000 9,925
+
+600 H Shares 0.20%
+400,000 4,148
+
+600 H Shares plus 1,695 out of 4,148
+applicants to receive an additional 200 H
+Shares
+0.17%
+500,000 2,877 600 H Shares plus 2,197 out of 2,877
+applicants to receive an additional 200 H
+Shares
+0.15%
+600,000 2,016 800 H Shares 0.13%
+700,000 1,369 800 H Shares plus 507 out of 1,369
+applicants to receive an additional 200 H
+Shares
+0.12%
+800,000 1,140 800 H Shares plus 726 out of 1,140
+applicants to receive an additional 200 H
+Shares
+0.12%
+900,000 910 1,000 H Shares 0.11%
+1,000,000 3,850 1,000 H Shares plus 459 out of 3,850
+applicants to receive an additional 200 H
+Shares
+0.10%
+2,000,000 1,489 1,200 H Shares plus 1,225 out of 1,489
+applicants to receive an additional 200 H
+Shares
+0.07%
+
+
+--- page 31 ---
+29
+
+3,000,000 559 1,400 H Shares plus 280 out of 559
+applicants to receive an additional 200 H
+Shares
+0.05%
+4,000,000 267 1,800 H Shares 0.05%
+5,000,000 204 2,200 H Shares 0.04%
+6,192,400 501 2,600 H Shares 0.04%
+
+Total 29,255
+Total number of Pool B successful
+applicants: 29,255
+
+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 issuer, its controlling shareholder(s), directors or syndicate members to any placees or
+the public (as the case may be) and the consideration payable by them for each share (or, where
+applicable, each unit of other equity securities or interests (which include equity securities, interests in
+a REIT, stapled securities and securities of an investment company (as defined in Rule 21.01)) of the
+issuer subscribed for or purchased by them is the same as the final offer price determined by the issuer,
+in addition to any brokerage, AFRC transaction levy, SFC transaction levy and trading fee payable.
+The Directors and the Overall Coordinators confirm that at least 50% of the total number of the Offer
+Shares have been allocated to and taken up by independent price setting investors in compliance with
+Rule 18C.08 of the Listing Rules.
+The Directors further confirm that at least 20% of the issued share capital of the Company will be held
+by sophisticated inde pendent investors at the time of Listing in compliance with Chapter 2.5 of the
+Guide for New Listing Applicants.
+OTHERS / ADDITIONAL INFORMATION
+
+Offer Size Adjustment Option
+
+The Offer Size Adjustment Option has been exercised in full, pursuant to which the Company is issuing
+and allotting 37,153,800 additional Shares, representing approximately 15. 0% of the total number of
+Shares initially available under the Global Offering, at the final Offer Price to increase the number of
+Offer Shares available under the International Offering.
+
+Accordingly, the total number of Offer Shares finally available under the Global Offering (after taking
+into account the full exercise of the Offer Size Adjustment Option and before any exercise of the Over-
+allotment Option) that would be allotted and issued by the Company is 284,846,600 Offer Shares and
+the total issued share capital of the Company upon Listing (after taking into account the full ex ercise
+
+
+--- page 32 ---
+30
+
+of the Offer Size Adjustment Option and before any exercise of the Over -allotment Option) will be
+2,396,131,700 Shares.
+
+Reallocation
+
+As the Hong Kong Public Offering has been over -subscribed by more than 100 times of the total
+number of Offer Shares initially available under the Hong Kong Public Offering, the reallocation
+procedure as disclosed in the section headed “Structure of the Gl obal Offering – The Hong Kong
+Public Offering – Reallocation” in the Prospectus has been applied.
+
+The number of Offer Shares initially available under the Hong Kong Public Offering is 12,384,800
+Shares, representing approximately 5% of the total number of Offer Shares initially available under
+the Global Offering (assuming the Offer Size Adjustment Option and the Over-allotment Option are
+not exercised). As a result of such reallocation, the final number of Offer Shares under the Hong Kong
+Public Offering is adjusted to 49,538,600 Shares, representing approximately 20% of the total number
+of Offer Shares initially available under the Global Offering ( assuming the Offer Size A djustment
+Option and the Over-allotment Option are not exercised).
+
+Placing to existing shareholders and/or its close associates with a prior waiver under Rule 10.04
+and consent under paragraph 1C(1) of the Placing Guidelines
+
+The Company has applied for a waiver under Rule 10.04 of the Listing Rules and a consent under
+paragraph 1C(2) of Appendix F1 to the Listing Rules, to permit the existing shareholders and/or its
+close associates to participate as either cornerstone investo rs or placees in the Global Offering to
+subscribe for the Offer Shares to be issued by the Company under the International Offering (together,
+the “Existing Shareholder Participants ”). The Stock Exchange has agreed to grant the requested
+waiver and consent subject to the conditions that:
+
+(a) the allocation to the Existing Shareholder Participants will not affect the Company’s ability to
+satisfy its public float requirement under Rule 8.08(1) (as amended and replaced by Rule
+19A.13A) of the Listing Rules;
+
+(b) the Company and the Joint Sponsors confirm that no preferential treatment has been, nor will
+be directly or indirectly, given to the Existing Shareholder Participants as cornerstone investors
+or placees by virtue of their relationship with the Company in any allocation in the Global
+Offering, other than the preferential treatment of assured entitlement under the cornerstone
+investment at the Offer Price and the terms are substantially the same as other cornerstone
+investors; and
+
+(c) details of the subscription o f the Offer Shares by the Existing Shareholder Participants as
+cornerstone investors or placees under the Global Offering have been disclosed in the
+Prospectus, and details of the allocation are disclosed in this allotment results announcement
+of the Company.
+
+For details of the allocations of Offer Shares to such Existing Shareholder Participants, please refer to
+the section headed “Allotment Results Details – International Offer ing – Allotees with
+Waivers/Consents Obtained” in this announcement.
+
+Placing to connected clients with a prior consent under paragraph 1C(1) of the Placing
+Guidelines
+
+
+--- page 33 ---
+31
+
+
+Under the International Offering, certain Offer Shares were placed to connected clients of their
+connected distributors pursuant to the Placing Guidelines.
+
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a consent
+under paragraph 1C(1) of the Placing Guidelines to permit the Company to allocate such Offer Shares
+in the International Offering to the connected clients. The allocation of Offer Shares to such connected
+clients is in compliance with all the conditions under the consent granted by the Stock Exchange.
+Details of the placement to connected clients are set out below:
+
+
+--- page 34 ---
+32
+
+No. Connected
+Distributo
+r
+Connected
+Client
+Relationship Identities of the ultimate
+beneficial owners of the
+Offer Shares or, where
+applicable, details of the
+structured products under
+which the subscription by
+the Connected Client was
+made (e.g. OTC total return
+swaps)
+Whether the
+Connected Client is
+a collective
+investment scheme
+which is not
+authorised by the
+SFC or is expected
+to hold the Offer
+Shares on behalf of
+such scheme
+Maximum
+amount of
+Offer Shares to
+be allocated to
+the Connected
+Client (based
+on the low end
+of the
+indicative Offer
+Price range)
+Approximate
+percentage of total
+number of Offer
+Shares under the
+Global Offering
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Approximate
+percentage of total
+issued share capital
+after the Global
+Offering (assuming
+no exercise of the
+Over-allotment
+Option)
+Part A - Connected Client holding the beneficial interest of the Offer Shares on a non-discretionary basis on behalf of independent third parties
+1. China
+Internation
+al Capital
+Corporatio
+n Hong
+Kong
+Securities
+Limited
+(CICCHKS
+)
+CICC
+Financial
+Trading
+Limited
+(CICC FT)
+Note 1 and note 2
+
+CICC FT is a
+member of the
+same group of
+CICCHKS.
+Please refer to note (1). N 5,956,800 2.09% 0.25%
+Please refer to note (2). N 587,200
+
+0.21% 0.02%
+2. CLSA CITIC
+Securities
+Internation
+al Capital
+Manageme
+nt Limited
+(CSI) Note 3
+CSI is a member
+of the same group
+of companies as
+CLSA.
+Please refer to note (3). No 443,000 0.16%
+
+0.02%
+3. Guotai
+Junan
+Securities
+(Hong
+Kong)
+Guotai
+Junan
+Investment
+s (Hong
+Kong)
+GTJA Investment
+is a member of
+the same group as
+Please refer to note (4). No 576,400 0.20% 0.02%
+Please refer to note (5). 3,176,800 1.12% 0.13%
+
+
+--- page 35 ---
+33
+
+Limited
+(GTJA
+HK) and
+Haitong
+Internation
+al
+Securities
+Company
+Limited
+(HTI)
+Limited
+(GTJA
+Investment
+s) Note 4 and 5
+GTJA HK and
+HTI.
+4. HTI
+Financial
+Solutions
+Limited
+(HTIFSL)
+Note 6
+HTIFSL is a
+member of the
+same group as
+GTJA HK and
+HTI.
+Please refer to note (6). No 4,175,600 1.47% 0.17%
+5. Huatai
+Financial
+Holdings
+(Hong
+Kong) Ltd
+(HTFH)
+Huatai
+Capital
+Investment
+Limited
+(HTCI) Note
+7
+HTCI is a
+member of the
+same group of
+HTFH.
+Please refer to note (7). No 460,600 0.16% 0.02%
+
+
+No. Connected
+Distributo
+r
+Connected Client Relationship Whether the Connected
+Client is a collective
+investment scheme
+which is not authorised
+by the SFC or is
+expected to hold the
+Offer Shares on behalf
+of such scheme
+Maximum amount
+of Offer Shares to
+be allocated to the
+Connected Client
+Approximate
+percentage of total
+number of Offer
+Shares under the
+Global Offering
+(assuming no exercise
+of the Over-allotment
+Option)
+Approximate
+percentage of total
+issued share capital
+after the Global
+Offering (assuming no
+exercise of the Over-
+allotment Option)
+Part B - Connected Clients holding the beneficial interest of the Offer Shares on a discretionary basis on behalf of independent third parties
+1. C ITIC Securities
+Asset Management
+CITICS AM is a
+member of the same
+No 7,942,400 2.79% 0.33%
+
+
+--- page 36 ---
+34
+
+No. Connected
+Distributo
+r
+Connected Client Relationship Whether the Connected
+Client is a collective
+investment scheme
+which is not authorised
+by the SFC or is
+expected to hold the
+Offer Shares on behalf
+of such scheme
+Maximum amount
+of Offer Shares to
+be allocated to the
+Connected Client
+Approximate
+percentage of total
+number of Offer
+Shares under the
+Global Offering
+(assuming no exercise
+of the Over-allotment
+Option)
+Approximate
+percentage of total
+issued share capital
+after the Global
+Offering (assuming no
+exercise of the Over-
+allotment Option)
+CLSA
+Limited
+(CLSA)
+
+Company Limited
+(CITICS AM) Note 8
+group of companies as
+CLSA.
+2. China Asset
+Management (Hong
+Kong) Limited (China
+AMC HK)Note 9
+China AMC HK is a
+member of the same
+group of companies
+as CLSA.
+N 317,600 0.11% 0.01%
+3. Orient
+Securities
+(Hong
+Kong)
+Limited
+(Orient
+Securities)
+
+China Universal Asset
+Management (Hong
+Kong) Company
+Limited (China
+Universal (HK)) Note 10
+China Universal (HK)
+is a member of the
+same group of
+companies as Orient
+Securities.
+N 317,600 0.11% 0.01%
+4. Orient Asset
+Management (Hong
+Kong) Limited (Orient
+AM) Note11
+Orient AM is a
+member of the same
+group of Orient
+Securities.
+Y 8,000 0.00% 0.00%
+5. Guosen
+Securities
+(HK)
+Brokerage
+Company
+Limited
+(Guosen
+Guosen Securities
+(HK) Asset
+Management
+Company Limited
+(Guosen HK AM) Note
+12
+Guosen HK AM is a
+member of the same
+group of companies as
+Guosen HK
+Brokerage.
+N 79,400 0.03% 0.00%
+
+
+--- page 37 ---
+35
+
+No. Connected
+Distributo
+r
+Connected Client Relationship Whether the Connected
+Client is a collective
+investment scheme
+which is not authorised
+by the SFC or is
+expected to hold the
+Offer Shares on behalf
+of such scheme
+Maximum amount
+of Offer Shares to
+be allocated to the
+Connected Client
+Approximate
+percentage of total
+number of Offer
+Shares under the
+Global Offering
+(assuming no exercise
+of the Over-allotment
+Option)
+Approximate
+percentage of total
+issued share capital
+after the Global
+Offering (assuming no
+exercise of the Over-
+allotment Option)
+HK
+Brokerage)
+6. UBS AG
+Hong Kong
+Branch and
+UBS AG
+Singapore
+Branch
+(UBS AG)
+ICBC UBS Asset
+Management Co., Ltd.
+(ICBC UBS) Note 13
+Both ICBC UBS and
+ICBC UBS
+(International) are
+members of the same
+group of companies as
+UBS AG.
+N 37,000
+
+0.01% 0.00%
+7. ICBC UBS Asset
+Management
+(International)
+Company Limited
+(ICBC UBS
+(International)) Note 13
+N 2,600 0.00% 0.00%
+8. UBS Asset
+Management
+(Singapore) Ltd. (UBS
+AM Singapore) Note 14
+UBS AM Singapore is
+a member of the same
+group of companies as
+UBS AG.
+N 3,971,200 1.39% 0.17%
+9. Guotai
+Junan
+Securities
+(Hong
+Kong)
+Limited
+(GTJA
+Haitong International
+Asset Management
+(HK) Limited
+(Haitong AM) Note 15
+Haitong AM is a
+member of the same
+group as GTJA HK
+and HTI.
+N 19,800 0.01% 0.00%
+10. Management Co., Ltd.
+(富國基金管理 有限
+Guotai Haitong
+Securities Co., Ltd.
+N 1,906,000 0.67% 0.08%
+
+
+--- page 38 ---
+36
+
+No. Connected
+Distributo
+r
+Connected Client Relationship Whether the Connected
+Client is a collective
+investment scheme
+which is not authorised
+by the SFC or is
+expected to hold the
+Offer Shares on behalf
+of such scheme
+Maximum amount
+of Offer Shares to
+be allocated to the
+Connected Client
+Approximate
+percentage of total
+number of Offer
+Shares under the
+Global Offering
+(assuming no exercise
+of the Over-allotment
+Option)
+Approximate
+percentage of total
+issued share capital
+after the Global
+Offering (assuming no
+exercise of the Over-
+allotment Option)
+HK) and
+Haitong
+Internation
+al
+Securities
+Company
+Limited
+(HTI)
+公司) (“Fullgoal
+Fund”) Note16
+(Guotai Haitong)
+holds approximately
+27.75% in the manager
+of Fullgoal Fund.
+Fullgoal Fund and
+Fullgoal HK (together,
+Fullgoal Fund) is a
+member of the same
+group as GTJA HK
+and HTI.
+11. Fullgoal Asset
+Management (HK)
+Limited (“Fullgoal
+HK”) Note 16
+N 1,270,600 0.45% 0.05%
+12. HTFH China Southern Asset
+Management Co., Ltd.
+(南方基金管理股份
+有限公司) (China
+Southern) Note 17
+China Southern is held
+by Huatai Securities
+Co., Ltd. (華泰證券股
+份有限公司) as to
+41.16%, which wholly
+owns HTFH.
+As such, China
+Southern and HTFH is
+a member of the same
+group of companies.
+N 3,176,800 1.12% 0.13%
+
+
+--- page 39 ---
+37
+
+Note:
+1. CICC FT has entered into cornerstone investment agreements with the Company, the Joint Sponsors and the Sponsor -OCs, to participate as a
+cornerstone investor in the Global Offering to subscribe for the Offer Shares to be issued by the Company under the International Offering.
+CICC FT and China International Capital Corporation Limited has entered into a series of cross border delta-one OTC swap transactions (collectively,
+the Greenwoods OTC Swaps) with each other and the ultimate clients (the CICC FT Ultimate Clients (Greenwoods)), pursuant to which CICC FT
+will hold the Offer Shares on a non-discretionary basis to hedge the Greenwoods OTC Swaps while the economic risks and returns of the underlying
+Offer Shares are passed to the CICC FT Ultimate Clients (Greenwoods), subject to customary fees and commissions. The Greenwoods OTC Swaps
+will be fully funded by the CICC FT Ultimate Clients (Greenwoods). During the terms of the Greenwoods OTC Swaps, all economic returns of the
+Offer Shares subscribed by CICC FT will be passed to th e CICC FT Ultimate Clients (Greenwoods) and all economic loss shall be borne by the
+CICC FT Ultimate Clients (Greenwoods) through the Greenwoods OTC Swaps, and CICC FT will not take part in any economic return or bear any
+economic loss in relation to the Offer Shares.
+To the best of CICC FT’s knowledge having made all reasonable inquiries, each of the CICC FT Ultimate Clients (Greenwoods) is an Independent
+Third Party of CICC FT, CICCHKS and the companies which are members of the same group of CICCHKS, and no single ultimate beneficial owner
+holds 30% or more interests in each of the CICC FT Ultimate Clients (Greenwoods).
+2. CICC FT and China International Capital Corporation Limited ( CICCL) will enter into a series of cross border delta -one OTC equity swap
+transactions (collectively, the “CICCFT OTC Swaps”) with each other and the ultimate clients (the “ CICC FT Ultimate Clients”), pursuant to
+which CICC FT will hold the Offer Shares on a non-discretionary basis to hedge the CICCFT OTC Swaps while the economic risks and returns of
+the underlying Offer Shares are passed to the CICC FT Ultimate Client, subject to customary fees and commissions. The CICCFT OTC Swaps will
+be fully funded by the CICC FT Ultimate Clients. During the term (which is one year although the CICC FT Ultimate Clients can terminate anytime)
+of the CICCFT OTC Swaps , all economic returns of the Offer Shares subscribed by CICC FT as Connected Client will be passed t o the CICC FT
+Ultimate Clients and all economic losses shall be borne by the CICC FT Ultimate Clients through the CICCFT OTC Swaps , and CICC FT will not
+take part in any economic return or bear any economic loss in relation to the Offer Shares. The termination of the CICCFT OTC Swaps will not
+result CICC FT holding the Offer Shares in its proprietary account. Despite that CICC FT will hold the legal title of the Offer Shares by itself, it will
+not exercise the voting rights attaching to the relevant Offer Shares during the terms of the CICCFT OTC Swaps according to i ts internal policy.
+Consequently, CICC FT Ultimate Client is not entitled to any voting rights of the relevant Offer Shares.
+The CICC FT Ultimate Clients are (i) Wangzheng Gongying No. 17 Private Securities Investment Fund ( 望正共贏 17 號私募證券投資基金),
+whose manager is Shenzhe n Wangzheng Asset Management Co., Ltd ( 深圳望正資產管理有限公司 ). Other than Qu Qin ( 翟琴), no ultimate
+beneficial owner holds 30% or more interest in the fund; (ii) Longrising Qiangshu Private Equity Investment Fund ( 源樂晟強樹私募證券投資基
+金) managed by Tibet Longrising Asset Man agement Co., Ltd (西藏源樂晟資產管理有限公司), the UBO of which is Zeng Xiaojie; and (iii) the
+following funds managed by Pinpoint Investment Management Limited ( 上海保銀私募基金管理有限公司): Pinpoint Jinqu No.1 Private Equity
+Investment Fund ( 保銀進取 1 號私募證券投資基金) with no UBO of 30% or more interest, Pinpoint Duokong Stable No.1 Equity Investment
+Fund (保銀多空穩健 1 號私募證券投資基金) whose UBO is Wang Qiang, and Pinpoint Duokong Stable No.2 Equity Investment Fund ( 保银多
+
+
+--- page 40 ---
+38
+
+空稳健 2 号私募证券投资基金) whose UBO is Wang Qiang. To the best of CICC FT’s knowledge having mad e all reasonable inquiries, each of
+the CICC FT Ultimate Clients is an independent third party of CICC FT, CICCHKS and the companies which are members of the sam e group of
+CICCHKS.
+3. CSI proposes to subscribe for and hold the Offer Shares as a placee under the International Offering on behalf of CSI Ultimate Clients, each of them
+is an independent third party, on a non-discretionary basis, pursuant to which:
+(i) CSI will act as the single counterparty of a back-to-back total return swap transaction (the CSI Back-to-back TRS) to be entered into by it in
+connection with a total return swap order (the CSI Client TRS) placed and fully funded by the CSI Ultimate Client, by which CSI will pass
+the full economic exposure of the Offer Shares placed to CSI to the CSI Ultimate Client.
+(ii) As confirmed by CSI and CLSA, CSI will hold the legal title and beneficial interest in the Offer Shares, but will contractually agree to pass
+on the full economic exposure and return of the Offer Shares to the CSI Ultimate Client, on a non -discretionary basis. The CSI Ultimate
+Client may exercise their early termination rights to terminate the CSI Client TRS at any time from the trade date of the CSI Client TRS
+which should be on or after the date on which the Offer Shares are listed on the Stock Exchange.
+(iii) Upon the final maturity or termination of the CSI Client TRS by the CSI Ultimate Client, CSI will dispose of the Offer Shares on the secondary
+market and the CSI Ultimate Client will receive a final termination amount of the CSI Back-to-back TRS which will have taken into account
+all the economic returns or economic loss in relation to the Offer Shares and the fixed amount of transaction fees of the CSI Back- to-back
+TRS and the CSI Client TRS. Due to its internal policy, CSI will not exercise the voting right of the Offer Shares during the terms of the CSI
+Back-to-back TRS.
+Details of the CSI Ultimate Clients include (i) certain funds managed by Shanghai Panjing Investment Management Center (Limited Partnership)
+(上海盤京投資管理中心(有限合夥)); (ii) a private equity fund managed by Shanghai Jindan Asset Management Co., Ltd. ( 上海金澹資產管
+理有限公司); (iii) a private equity fund managed by Hainan Langrun Lifang Private Fund Management Co., Ltd. (海南朗潤利方私募基金管理有
+限公司); and (iv) HY Capital Company Limited.
+CSI has confirmed that, to the best of their knowledge and after making all reasonable enquiries, each of the CSI Ultimate Client and its ultimate
+beneficial owner is an independent third party of CSI, CLSA and the companies which are members of the same group of companies as CLSA.
+4. It is proposed that GTJA Investments participates as placee to subscribe for the Offer Shares under the International Offering (the GTJAI
+Subscription). In relation to the GTJAI Subscription, GTJA Investments shall hold the Offer Shares for hedging purpose as the single unde rlying
+asset of several sets of back-to-back total return swap transaction (the GTHT Back-to-back TRS) to be entered into between GTJA Investments and
+Guotai Haitong Securities Co., Ltd. (the GTHT Onshore Parent) in connection with several total return swap orders (the GTHT Client TRS) to be
+entered into by GTHT Onshore Parent and several ultimate clients (the GTHT Onshore Ultimate Clients), respectively. Such GTHT Client TRS is
+to be fully funded by the GTHT Onshore Ultimate Client. GTJA Investments will hold the Offer Shares on a non-discretionary basis for the purpose
+of hedging the economic exposure under the GTHT Back-to-back TRS and GTHT Client TRS only, During the tenor of the GTHT Client TRS, all
+
+
+--- page 41 ---
+39
+
+economic returns of the Offer Shares will be passed to the GTHT Onshore Ultimate Clients and a ll economic losses shall be borne by the GTHT
+Onshore Ultimate Client, subject to the terms and conditions of the GTHT Back -to-back TRS and GTHT Client TRS, and GTJA Investments will
+not take part in any economic return or bear any economic loss in relation to the price of the Offer Shares. The GTHT Onshore Ultimate Client may
+request to redeem the Offer Shares at their own discretion, upon which GTJA Investments shall dispose of the Offer Shares and settle the GTHT
+Back-to-back TRS and GTHT Client TRS in c ash in accordance with the terms and conditions of the GTHT Back -to-back TRS and GTHT Client
+TRS documents.
+Due to its internal policy, GTJA Investments will not exercise the voting right attaching to the Offer Shares during the tenor of the GTHT Back-to-
+back TRS and GTHT Client TRS.
+The GTHT Onshore Ultimate Client for purpose of this place subscription include (i) Beijing Yiyuanda Investment Management Co., Ltd. (北京逸
+原達投資管理有限公司), with Huang Hui (黃輝) being its UBO; and (ii) Yucheng Private Equity Fund Management (Hainan) Partnership (Limited
+Partnership) (宇誠私募基金管理(海南)合夥企業(有限合夥)), with ZHANG Weihua (張衛華) and HONG Yan (洪燕) being its UBOs.
+GTJA Investments has confirmed that, to the best of their knowledge and after making all reasonable enquiries, each of the GTHT Onshore Ultimate
+Clients and its ultimate beneficial owner is an independent third party of GTJA Investments, HTI and the companies which are members of the same
+group of companies as HTI.
+5. In addition, as disclosed in the Prospectus, (i) GTJA Investments has entered into a cornerstone investment agreement with th e Company, and (ii)
+GTJA Investments and, among others, Jinxiu No. 608 Private Investment Fund ( Jinxiu 608) or (Guotai Haitong Ultimate Customer (Zhonghe))
+managed by Jinxiu Zhonghe (Tianjin) Investment Management Co., Ltd. ( 錦繡中和(天津)投資管理有限公司) (Zhonghe Capital) will conduct a
+series of cross-border Delta-one over-the-counter swap transactions (Zhonghe OTC Swaps). Under these transaction arrangements, GTJA HK will
+hold the Offer Shares on a non -discretionary basis to hedge risks for Zhonghe OTC Swaps. After deducting customary fees and commissions, the
+economic risks and benefits associated with the underlying offered shares will be transferred to Guotai Haitong Ultimate Customer (Zhonghe).
+As far as GTJA Investments is aware, Guotai Haitong Ultimate Customer (Zhonghe) is an independent third party to GTJA Investments, HTI, and
+companies within the same group as HTI.
+6. HTIFSL has entered into a total return swap transaction trade (the HTI TRS) with each of (i) Shenzhen NewFoxon Investment Management CO.,
+LTD. (深圳紐富斯投資管理有限公司), with ZHOU Cong (周聰) being its UBO; (ii) Lingding Investment Management Co., Ltd. (寧波梅山保稅
+港區淩頂投資管理有限公司 ), with Xiong Nawei ( 熊納微) and Song Chen ( 宋辰) being its UBO ; (iii) SMIC Juyuan Private Equity Fund
+Management (Shanghai) Co., Ltd ( 中芯聚源私募基金管理(上海)有限公司), which is a close associate of an existing shareholder ; and (iv)
+Shanghai Weining Investment Mangement Co., Ltd ( 上海衛寧私募基金管理有限公司), with LIU YUTAO (劉育濤) being its UBO, (the HTI
+Ultimate Clients), pursuant to which HTIFSL will hold the Offering Shares on a non -discretionary basis as the single underlying holder under the
+HTI TRS. The full economic exposure of the Offer Shares will be passed to each of the HTI Ultimate Clients, while HTIFSL will hold the beneficial
+interest of the Offering Shares on behalf of each of the HTI Ultimate Clients.
+
+
+--- page 42 ---
+40
+
+Due to its internal policy, HTIFSL will not exercise the voting rights of the Offer Shares during the term of HTI TRS.
+To the best of HTCI’s knowledge having made all reasonable inquiries, each of the HTI Ultimate Clients and their respective u ltimate beneficial
+owners is an independent third party of HTIFSL, HTI and the companies which are members of the same group of HTI.
+7. Huatai Securities Co., Ltd. (“ Huatai Securities”) is one of the domestic securities firms licensed to undertake cross -border derivatives trading
+activities. Huatai Securities entered into an ISDA agreement (the “ ISDA Agreement”) with its indirectly wholl y-owned subsidiary, HTCI, to set
+out the principal terms of any future total return swap between Huatai Securities and HTCI.
+HTCI is a member of the same group of HTFH. Pursuant to the ISDA Agreement, HTCI, which intends to participate in the Global Offering as a
+placee, will hold the beneficial interest of the Offer Shares on a non -discretionary basis as the single underlying holder under a back -to-back total
+return swap (the “Back-to-back TRS”) to be entered by HTCI in connection with a Client TRS (as defined below) placed by and fully funded (i.e.
+with no financing provided by HTCI) by the Huatai Ultimate Clients (as defined below), by which, HTCI will, subject t o customary fees and
+commissions, pass the full economic exposure of the Offer Shares ultimately to the Huatai Ultimate Clients, which in effect, HTCI will hold the
+beneficial interest of the Offer Shares on behalf of the Huatai Ultimate Clients. HTFH and HTCI are indirectly wholly owned subsidiaries of Huatai
+Securities. Accordingly, HTCI is considered as a “connected client” of HTFH pursuant to paragraph 1B of the Placing Guidelines.
+Pursuant to the Cross-border Derivatives Trading Regime, the onshore investors (the “Huatai Ultimate Clients”) cannot directly subscribe for the
+Offer Shares but may invest in derivative products issued by domestic securities firms licenced to undertake cross-border derivatives trading activities,
+such as Huatai Securities, with the Offer Shares as the underlyin g assets. Instead of directly subscribing for the Offer Shares, the Huatai Ultimate
+Clients, through its investment manager, will place a total return swap order (the “ Client TRS”) with Huatai Securities in connection with the
+Company’s IPO and Huatai Secu rities will place a Back -to-back TRS order to HTCI on the terms of the ISDA Agreement. In order to hedge its
+exposure under the Back-to-back TRS, HTCI participates in the Company’s initial public offering and subscribes the Offer Shares through placing
+order with HTFH during the International Placing.
+To the best of our knowledge and after making all reasonable enquiries, each of the Huatai Ultimate Clients is an independent third party of HTCI,
+HTFH and the companies which are members of the same group of HTCI.
+The purpose of HTCI to subscribe for the Offer Shares is for hedging the Back-to-back TRS in connection with the Client TRS order placed by the
+Huatai Ultimate Clients. Pursuant to the terms of the contracts of the Back -to-back TRS and the Client TR S, during the tenor of the Back -to-back
+TRS and the Client TRS, subject to customary fees and commissions, all economic returns of the Offer Shares will be ultimately passed to the Huatai
+Ultimate Clients through the Back-to-back TRS and the Client TRS and all economic loss shall be ultimately borne by the Huatai Ultimate Clients.
+HTCI will not take any economic return or bear any economic loss in relation to the Offer Shares.
+Investment in the Back-to-back TRS and the Client TRS is similar to the investment in a qualified domestic institutional investor fund (“QDII”) in
+the way that the Huatai Ultimate Clients would reap all the economic benefits of the underlying Offer Shares, except that a QDII fund would pass
+through the exchange rate exposure on both the notional value of the investment and the profit and loss of the investment. In contrast, the profit and
+loss of the Back-to-back TRS and the Client TRS factor into account the fluctuation in RMB exchange rate upon termination of the Client TRS by
+
+
+--- page 43 ---
+41
+
+converting the profit and loss using the current exchange rate at the time of termination. As such, the Huatai Ultimate Clients would bear the exchange
+rate exposure of the profit and loss on settlement date.
+The Huatai Ultimate Clients may exercise an early termination right to terminate the Client TRS at any time from the issue date of the Client TRS
+which should be on or after the date on which the Offer Shares are listed on the Stock Exchange at its own discretion. Upon t he termination upon
+maturity or early termination of the Client TRS by the Huatai Ultimate Clients, HTCI will dispose the Offer Shares on the secondary market and the
+Huatai Ultimate Clients will receive a final settlement amount in cash in accordance with the terms and conditions of the Back-to-back TRS and the
+Client TRS which should have taken into account all the economic returns or economic loss in relation to the Offer Shares. If upon the maturity of
+the Client TRS, the Huatai Ultimate Clients intends to extend the investment period, subject to further agreement between Huatai Securities and the
+relevant Huatai Ultimate Clients, the term of the Client TRS could be extended by way of a new issuance or a tenor extension. Accordingly, Huatai
+Securities will extend the term of the Back-to-back TRS by way of a new issuance or a tenor extension.
+It is proposed that HTCI will hold the legal title and the voting right of the Offer Shares by itself, and pass through the e conomic exposure to the
+Huatai Ultimate C lients, each being an onshore client who places a Client TRS order with Huatai Securities in connection with the IPO of the
+Company. HTCI will not exercise the voting right of the Offer Shares during the tenor of the Back-to-back TRS.
+During the life of the Client TRS and Back-to-back TRS, HTCI may continue to hold the Offer Shares in its custodian account, or to hold some or
+all of the Offer Shares in a prime brokerage account for stock borrowing purposes, where HTCI will lend out its holding of underlying Offer Shares
+in the form of stock borrowing loans consistent with market practice to lower its finance costs, provided that HTCI has the a bility to call back the
+Offer Shares on loan at any time in order to satisfy its obligations under the Back-to-back TRS to ensure the economic interests are ultimately passed
+to the Huatai Ultimate Clients.
+The HTCI Ultimate Clients are (i) Xinyuan Tianxun Navigator Private Securities Investment Fund ( 芯源天循領航私募證券投資基金), whose
+manager is Shanghai Tianxun Jiuyi Private Equity Funds Management Co., Ltd. (上海天循久奕私募基金管理有限公司), which is a close associate
+of two existing shareholders (See the waiver and consent application submitted for allocation to existing shareholders or their close associates for
+details. Also see section head ed “Allotment Results Details – International Offering – Allotees with Waivers/Consents Obtained” in this
+announcement); (ii) Liangke Dingan No.9 Private Equity Fund (量客鼎安九号私募证券投资基金); (iii) Shanghai Daohe Equity Fund (道合承光
+私募证券投资基金 ); (iv) Shenzhen Ruyuan Private Equity Fund Management Co., Ltd. ( 深圳如愿私募证券基金管理有限公司 ) ; (v)
+Ruizeruoshui No.1 Private Equity Fund ( 锐泽若水 1 号私募证券投资基金); (vi) Mingyi Haiying Private Equity Fund, Mingyi Yongtai Private
+Equity Fund (明毅海盈私募证券投资基金、明毅永泰私募证券投资基金).
+8. CITICS AM will hold the Offer Shares in its capacity as the discretionary fund manager managing the funds (the Funds) on behalf of their respective
+investors. CITICS AM has confirmed that, to the best of their knowledge and after making all reasonable enquiri es, no ultimate beneficial owner
+holds 30% or more interest in each of such Funds.
+CITICS AM has also confirmed that, to the best of their knowledge and after making all reasonable enquiries, each of the Fund s above is an
+independent third party of CITICS AM, and the companies which are members of the same group of companies as CITICS AM and CLSA.
+
+
+--- page 44 ---
+42
+
+9. China AMC HK will hold the Offer Shares in its capacity as the discretionary fund manager managing on behalf of its underlyin g clients, each of
+which is an independent third party (the China AM HK Ultimate Clients). China AMC HK is an investment advisor and a delegate of the investment
+manager of the China AM HK Ultimate Clients and manages assets (in its capacity as an investment advisor of China AM HK Ultimate Client) and
+executes trades (in its capacity as a delegate of the investment manager of China AM HK Ultimate Client) for and on behalf of China AM HK
+Ultimate Client. To the best of China AMC HK’s knowledge and after making all reasonable enquiries, th e China AM HK Ultimate Client is an
+independent third party of the Company, its subsidiaries, and its substantial shareholders, China AMC HK, CLSA and the compan ies which are
+members of the same group of CLSA.
+10. The subscription will be made by China Univers al (HK) in its capacity as the investment manager on a discretionary basis for and on behalf of its
+underlying clients. China Universal (HK) has confirmed that, to the best of their knowledge and after making all reasonable enquiries, each of its
+underlying clients and its UBO (if applicable) listed above is an independent third party of China Universal (HK), and the companies which are
+members of the same group of companies as Orient Securities.
+11. Orient AM will hold the Offer Shares on a discretionary basis on behalf of its underlying clients . To the best knowledge of Orient AM after due
+enquiry, there is no UBO holding 30% or more in each of its underlying clients, and each of the underlying clients of Orient AM is an independent
+third party of Orient AM and Orient Securities and the companies which are members of the same group of companies as Orient Securities.
+12. Guosen HK Brokerage is a sub-distributor in connection with the Global Offering. Guosen HK AM will participate as a placee and hold the Offer
+Shares in account in its capacity as the discretionary investment manager managing assets on behalf of its underlying client (t he Guosen HK AM
+Client). Guosen HK AM is to invest on discretionary basis on behalf of the Guosen HK AM Client which is an independ ent third party and no
+proprietary money is used for the subscription. Guosen HK AM has confirmed that, to the best of their knowledge and after mak ing all reasonable
+enquiries, each of the Guosen HK AM Client and its ultimate beneficial owner listed above is an independent third party of Guosen HK AM, and
+the companies which are members of the same group of companies as Guosen HK Brokerage.
+13. ICBC UBS and ICBC UBS (International) will hold the Offer Shares in its capacity as the discretionary fund manager on behalf of certain funds,
+who are independent third parties of the Company, its subsidiaries, its substantial shareholders, ICBC UBS, ICBC UBS (Internat ional), UBS AG
+and the companies which are members of the same group of UBS AG.
+14. UBS AM Singapore will hold the Offer Shares in its capacity as the discretionary fund manager on behalf of the following fund s: (i) UBS (Lux)
+Equity Fund — Greater China (USD); (ii) UBS (Lux) Equity Fund — China Opportunity (USD); (iii) UBS (HK) Fund Series — China Opportunity
+Equity (USD); (iv) UBS (Lux) Equity SICAV — All China (USD); (v) UBS (Lux) Investment SICAV — China A Opportunity (USD); (vi) UBS
+(CAY) China A Opportunity; and (vii) certain other segregated accounts and mandates. There is no single ultimate beneficial o wner holding 30%
+or more interests in such funds.
+UBS AM Singapore has confirmed that, to the best of its knowledge and after making all reasonable enquiries, each of the funds is an independent
+third party of UBS AM Singapore, UBS AG and the companies which are members of the same group of UBS AG.
+
+
+--- page 45 ---
+43
+
+15. Haitong AM will hold the Offer Shares in its capacity as the discretionary fund manager of an independent third party, and no proprietary money is
+used for the subscription. Haitong AM has confirmed that, to the best of its knowledge and after making all reasonable enquiries, the ultimate client
+is an independent third party of Haitong AM, HTI and the companies which are members of the same group of HTI.
+16. Fullgoal Fund will hold the Offer Shares (on a discretionary basis) on behalf of its underlying clients. Each of the underlying clients is an independent
+third party of the Company, its subsidiaries, its substantial shareholders, and Fullgoal Fund. Fullgoal Fund has confirmed that, to the best of their
+knowledge, each of the underlying clients are independent third parties of Fullgoal Fund, HTI and the companies which are members of the same
+group of companies as HTI.
+17. China Southern, a qualified domestic institutional investor as approved by the relevant PRC authority to conduct asset manage ment business, will
+hold the Offer Shares as the independent agent and discretionary manager of certain QDII funds. China Southern has confirmed that, to the best of
+their knowledge, each of such underlying clients are independent third parties of China Southern, HTFH and the companies which are members of
+the same group of companies as HTFH.
+
+
+--- page 46 ---
+44
+
+DISCLAIMERS
+
+Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong
+Kong Securities Clearing Company Limited 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 const itute or form a part of any offer or solicitation to
+purchase or subscribe for securities in the United States. The Offer Shares have not been and will not
+be registered under the United States Securities Act of 1933 , as amended (the “ U.S. Securities Act ”)
+or any state securities laws in the United States and may not be offered, sold, pledged or transferred
+within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation
+S under the U.S. Securities Act) , 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. Sec urities Act.
+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 22, 2025 issued by Shanghai Biren Technology
+Co., Ltd. for detailed information about the Global Offering described below before deciding whether
+or not to invest in the H Shares thereby being offered.
+*Potential investors of the Offer Shares should note that the Joint Sponsors and the Sponsor-OCs (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 section 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 January 2, 2026 ).
+
+
+--- page 47 ---
+3
+PUBLIC FLOAT AND FREE FLOAT
+Immediately following the completion of the Global Offering (after taking into account the full
+exercise of the Offer Size Adjustment Option and before any exercise of the Over-allotment
+Option), the total number of the H Shares held by the public represents approximately 48.33% of
+the total issued share capital of the Company, which is higher than the prescribed percentage of H
+Shares required to be held in public hands of 10.00% under Rule 8.08(1) (as amended and replaced
+by Rule 19A.13A(1)) of the Listing Rules calculated based on the final Offer Price of HK$19.60
+per H Share, thereby satisfying the public float requirement under Rule 8.08(1) (as amended and
+replaced by Rule 19A.13A(1)) of the Listing Rules.
+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$19.60 per H Share, the Company satisfies the free float requirement under
+Rule 19A.13C(1)(b) of the Listing Rules.
+The Directors confirm that, immediately following the completion of the Global Offering (after
+taking into account the full exercise of the Offer Size Adjustment Option and before any exercise
+of the Over-allotment Option), (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. on Friday, January 2,
+2026 (Hong Kong time), 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 on the basis of publicly available allocation details
+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. on Friday,
+January 2, 2026 (Hong Kong time), it is expected that dealings in the H Shares on the Stock
+Exchange will commence at 9:00 a.m. on Friday, January 2, 2026 (Hong Kong time). The H Shares
+will be traded in board lots of 200 Shares each, and the stock code of the H Shares will be 6082.
+By order of the Board
+Shanghai Biren Technology Co., Ltd.
+ʮ̡
+Mr. ZHANG WEN
+Chairman of the Board, executive Director and Chief Executive Officer
+Shanghai, December 31, 2025
+As of the date of this announcement, the Board comprises: (i) Zhang Wen, Hong Zhou, Zhang
+Linglan, Xiao Bing and Pan Luting as executive Directors; (ii) Liu Jingguo as a non-executive
+Director; and (iii) Wang Yuan, Lam Siu Wing and Liu Jin as independent non-executive Directors.
diff --git a/data/extracted_text/06181/allotment_results_2024-06-27_2024062702334.txt b/data/extracted_text/06181/allotment_results_2024-06-27_2024062702334.txt
new file mode 100644
index 0000000..d4b70f8
--- /dev/null
+++ b/data/extracted_text/06181/allotment_results_2024-06-27_2024062702334.txt
@@ -0,0 +1,1043 @@
+--- page 1 ---
+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.
+Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those
+defined in the prospectus dated June 20, 2024 (the “Prospectus ”) issued by Laopu Gold Co., Ltd.* (the “Company ”).
+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 described
+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.
+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.
+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 Sole 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 – 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 June 28, 2024).
+In connection with the Global Offering, China Securities (International) Corporate Finance Company Limited as
+stabilizing manager (the “Stabilizing Manager ”) (or its affiliates or any person acting for it), on behalf of the
+Underwriters, may over-allocate or effect transactions with a view to stabilizing or supporting the market price of
+the H Shares at a level higher than that which might otherwise prevail for a limited period after the Listing Date.
+However, there is no obligation on the Stabilizing Manager (or its affiliates or any person acting for it) to conduct
+any such stabilizing action, which, if taken, will be done at the absolute discretion of the Stabilizing Manager (or its
+affiliates or any person acting for it) and may be discontinued at any time. Any such stabilizing action is required to
+be brought to an end on the 30th day after the last day for lodging applications under the Hong Kong Public Offering,
+being Thursday, July 25, 2024. Such stabilisation action, if commenced, may be effected in all jurisdictions where it is
+permissible to do so, in each case in compliance with all applicable laws, rules and regulatory requirements, including
+the Securities and Futures (Price Stabilizing) Rules (Cap. 571W of the Laws of Hong Kong), as amended, made under
+the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong). Potential investors should be aware that
+no stabilizing action can be taken on the Hong Kong Stock Exchange to support the price of the H Shares for longer
+than the stabilization period which begins on the Listing Date and is expected to expire on Thursday, July 25, 2024,
+being the 30th day after the last day for lodging applications under the Hong Kong Public Offering. After this date,
+when no further stabilizing action may be taken, demand for the H Shares, and therefore the price of the H Shares,
+could fall.
+
+
+--- page 2 ---
+2
+Laopu Gold Co., Ltd.*
+老鋪 黃 金股份有限公司
+(A joint stock company incorporated in the People ’s Republic of China with limited liability)
+GLOBAL OFFERING
+Number of Offer Shares under the
+Global Offering
+: 22,368,900 H Shares (taking into account
+ the full exercise of the Offer Size
+ Adjustment Option and subject to the
+ Over-allotment Option)
+Number of Hong Kong Offer Shares : 11,184,500 H Shares (as adjusted after
+ reallocation and taking into account
+ the full exercise of the Offer Size
+ Adjustment Option)
+Number of International Offer Shares : 11,184,400 H Shares (as adjusted after
+ reallocation and taking into account
+ the full exercise of the Offer Size
+ Adjustment Option and subject to the
+ Over-allotment Option)
+Offer Price : HK$40.50 per H Share, plus brokerage
+ of 1.0%, SFC transaction levy of
+ 0.0027%, AFRC transaction levy of
+ 0.00015% and Hong Kong Stock
+ Exchange trading fee of 0.00565%
+ (payable in full on application in Hong
+ Kong dollars and subject to refund)
+Nominal value : RMB1.00 per H Share
+Stock code : 6181
+Sole Sponsor
+Sole Overall Coordinator and Sole Global Coordinator
+Joint Bookrunners and Joint Lead Managers Joint Lead Manager
+* For identification purpose only
+
+
+--- page 3 ---
+LAOPU GOLD CO., LTD* / 老鋪黃金股份有限公司
+ANNOUNCEMENT OF ALLOTMENT RESULTS
+
+Unless otherwise defined herein, capitalised terms used in this announcement shall have the
+same meanings as those defined in the prospectus dated June 20, 2024 (the “Prospectus”)
+issued by Laopu Gold 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 price
+of the H Shares could move substantially even with a small number of H Shares traded
+and should exercise extreme caution when dealing in the H Shares.
+SUMMARY
+
+Company Information
+Stock Code 6181
+Stock Short Name LAOPU GOLD
+Dealings commencement date June 28, 2024#
+# see note at the end of the announcement
+
+Price Information
+Offer Price HK$40.50
+Offer Price Adjustment exercised N/A
+
+Offer Shares and Share Capital
+Number of Offer Shares 22,368,900
+Number of Offer Shares in Hong Kong
+Public Offer ing (after reallocation and
+exercise of Offer Size Adjustment
+Option)
+11,184,500
+Number of offer shares in International
+Offering (after reallocation and exercise
+of Offer Size Adjustment Option)
+11,184,400
+Number of issued shares upon Listing 165,011,400
+The number of offer shares above is determined after taking into account the additional
+shares issued under the following Offer Size Adjustment Option and assuming the Over-
+allotment Option is not exercised.
+
+Offer Size Adjustment Option (Upsize option)
+Number of additional shares issued
+under the option
+2,917,600
+ - Hong Kong Public Offering 1,458,800
+* For identification purpose only
+
+
+--- page 4 ---
+- International Offering 1,458,800
+The Offer Size Adjustment Option was exercised in full, pursuant to which the Company is
+issuing and allotting 2,917,600 additional Offer Shares, representing approximately 15.00%
+of the total number of Offer Shares initially available under the Global Offering, at the Offer
+Price.
+
+Over-allocation
+No. of Offer Shares over-allocated 3,355,300
+Such over-allocation may be covered by exercising the Over-allotment Option or by making
+purchases in the secondary market at prices that do not exceed the Offer Price or through
+deferred delivery or a combination of these means. In the event the Over -allotment Option
+is exercised, an announcement will be made on the Stock Exchange’s website.
+
+Proceeds
+Gross proceeds (Note) HK$ 905.94 million
+Less: Estimated listing expenses
+payable
+HK$(79.30) million
+Net Proceeds HK$ 826.64 million
+Note: Gross proceeds refers to the amount to which the issuer is entitled to receive assuming
+the Over-allotment Option is not exercised . For details of the use of proceeds, please refer
+to the Prospectus dated June 20, 2024.
+
+ALLOTMENT RESULTS DETAILS
+
+HONG KONG PUBLIC OFFERING
+
+
+No. of valid applications 42,474
+No. of successful applications 20,289
+Subscription level 582.15 times
+Claw-back triggered Yes
+No. of Offer Shares initially available under the Hong Kong Public
+Offering
+1,945,200
+No. of Offer Shares reallocated from the International Offering (claw-
+back)
+7,780,500
+Final no. of Offer Shares under the Hong Kong Public Offering (after
+reallocation and exercise of Offer Size Adjustment Option)
+11,184,500
+
+% of Offer Shares under the Hong Kong Public Offering to the Global
+Offering (after reallocation, over-allocation, and exercise of Offer Size
+Adjustment Option)
+43.48%
+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.
+
+
+--- page 5 ---
+INTERNATIONAL OFFERING
+
+
+No. of placees 108
+Subscription Level 11.90 times
+No. of Offer Shares initially available under the International Offering 17,506,100
+No. of Offer Shares reallocated to the Hong Kong Public Offering (claw-
+back)
+7,780,500
+Final no. of Offer Shares under the International Offer ing (after
+reallocation, over-allocation, and exercise of Offer Size Adjustment
+Option)
+14,539,700
+% of Offer Shares under the International Offer ing to the Global
+Offering (after reallocation, over-allocation, and exercise of Offer Size
+Adjustment Option)
+56.52%
+
+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 close associa tes of certain existing shareholders , (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 of the Company, controlling
+shareholders, substantial shareholders, 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, chief executive of the Company, controlling shareholders,
+substantial shareholders, existing shareholders of the Company 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.
+
+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
+Huang River
+Investment
+Limited
+6,751,000 30.18% 7.38% 4.09% No
+China 2,025,300 9.05% 2.22% 1.23% No
+
+
+--- page 6 ---
+Southern
+Asset
+Management
+Co., Ltd.
+CPE Greater
+China
+Enterprises
+Growth Fund
+2,025,300 9.05% 2.22% 1.23% No
+Total 10,801,600 48.29% 11.82% 6.55%
+Assuming the Over-allotment Option is not exercised.
+
+Allottees 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*
+BA Sky
+Limited
+384,300 1.72% 0.42% 0.23% Existing
+shareholder/Director
+or its close associate
+Total 384,300 1.72% 0.42% 0.23%
+Assuming the Over-allotment Option is not exercised.
+
+* BA Sky Limited is wholly-owned by BA Capital Fund. The general partner of BA Capital
+Fund is BA Capital Limited, which is ultimately controlled by Mr. HE Yu. Xiamen Heiyi and
+Suzhou Yimei are existing shareholders of the Company holding 2,655,800 Shares
+(representing approximately 1.61% of the voting rights of the Company immediately after
+the completion of the Global Offering (assuming the Over-allotment Option is not exercised))
+and 2,121,700 Shares (representing approximately 1.29% of the voting rights o f the
+Company immediately after the completion of the Global Offering (assuming the Over -
+allotment Option is not exercised)), respectively. Xiamen Heiyi is a limited partnership
+incorporated in the PRC with Xiamen Yiyuan as its general partner. Suzhou Yimei is a limited
+partnership incorporated in the PRC with Xiamen Yiyuan as its general partner. In addition,
+BA HM Hong Kong Limited, which holds approximately 98.43% interests of Suzhou Yimei
+as one of its limited partners, is controlled by BA Capital Fund. Xiamen Yiyuan is ultimately
+controlled by Mr. HE Yu. As such, BA Sky is a close associate of Xiamen Heiyi and Suzhou
+Yimei, which are existing shareholders of the Company holding 2,655,800 Shares
+(representing approximately 1.61% of the voting rights of t he Company immediately after
+the completion of the Global Offering (assuming the Over-allotment Option is not exercised))
+and 2,121,700 Shares (representing approximately 1.29% of the voting rights of the
+Company immediately after the completion of the Glo bal Offering (assuming the Over -
+
+
+--- page 7 ---
+allotment Option is not exercised)), respectively. 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 Appendi x F1 to the Listing Rules for allocation of
+Offer Shares under the International Offering to BA Sky Limited. The allocation of Offer
+Shares to BA Sky Limited is in compliance with all the conditions under the waiver and
+consent granted by the Stock Exchange.
+
+LOCK-UP UNDERTAKINGS
+
+Existing Shareholders (excluding 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
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of
+shareholding
+in the
+Company
+subject to lock-
+up
+undertakings
+upon listing
+(assuming the
+Over-allotment
+Option is not
+exercised)
+Last day
+subject to the
+lock-up
+undertakings
+Beijing
+Hongqiao Jinji
+Consulting
+Co., Ltd. /北京
+紅喬金季諮詢
+顧問有限公司
+56,101,300
+(including
+22,440,520 H
+Shares)
+24.55% 34.00% June 27, 2025
+Xu Gaoming /
+徐高明
+31,934,400
+(including
+12,773,760 H
+Shares)
+13.97% 19.35% June 27, 2025
+Xu Dongbo /徐
+東波
+14,319,200
+(including
+5,727,680 H
+Shares)
+6.27% 8.68% June 27, 2025
+Tianjin
+Jincheng
+Enterprise
+Management
+Consulting
+L.P. (Limited
+9,284,900
+(including
+4,642,450 H
+Shares)
+5.08% 5.63% June 27, 2025
+
+
+--- page 8 ---
+Partnership) /
+天津金橙企業
+管理諮詢合夥
+企業 ( 有限合
+夥)
+Tianjin Jinji
+Enterprise
+Management
+Consulting
+L.P. (Limited
+Partnership) /
+天津金積企業
+管理諮詢合夥
+企業 ( 有限合
+夥)
+4,351,000 H Shares 4.76% 2.64% June 27, 2025
+Tianjin Jindi
+Enterprise
+Management
+Consulting
+L.P. (Limited
+Partnership) /
+天津金諦企業
+管理諮詢合夥
+企業 ( 有限合
+夥)
+2,592,500 H Shares 2.84% 1.57% June 27, 2025
+Tianjin
+Jinyong
+Enterprise
+Management
+Consulting
+L.P. (Limited
+Partnership) /
+天津金詠企業
+管理諮詢合夥
+企業 ( 有限合
+夥)
+1,587,700 H Shares 1.74% 0.96% June 27, 2025
+Tianjin Jinli
+Enterprise
+Management
+Consulting
+L.P. (Limited
+Partnership) /
+天津金蒞企業
+管理諮詢合夥
+1,256,100 H Shares 1.37% 0.76% June 27, 2025
+
+
+--- page 9 ---
+企業 ( 有限合
+夥)
+Subtotal 121,427,100
+(including
+55,371,710 H
+Shares)
+60.57% 73.59%
+The expiry date of the lock-up period shown in the table above is pursuant to applicable PRC
+law.
+
+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
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of
+shareholding in
+the Company
+subject to lock-
+up
+undertakings
+upon listing
+(assuming the
+Over-allotment
+Option is not
+exercised)
+Last day subject
+to the lock-up
+undertakings
+Chen Guodong /
+陳國棟
+15,072,900
+(including
+7,536,450 H
+Shares)
+8.24% 9.13% June 27, 2025
+Xiamen Heiyi
+No. 3 Equity
+Investment
+Partnership
+(Limited
+Partnership) /
+廈門黑蟻三號
+股權投資合夥
+企業(有限合夥)
+2,655,800 H
+Shares
+2.91% 1.61% June 27, 2025
+Suzhou Yimei
+Investment
+Partnership
+(Limited
+Partnership) /
+蘇州逸美創業
+投資合夥企業
+(有限合夥)
+2,121,700 H
+Shares
+2.32% 1.29% June 27, 2025
+
+
+--- page 10 ---
+Fosun Hanxing
+(Hangzhou)
+Equity
+Investment Fund
+L.P. (Limited
+Partnership) /
+復星漢興(杭
+州) 股權投資基
+金合夥企業 (有
+限合夥)
+1,365,000 H
+Shares
+1.49% 0.83% June 27, 2025
+Subtotal 21,215,400
+(including
+13,678,950 H
+Shares
+14.96% 12.86%
+The expiry date of the lock-up period shown in the table above is pursuant to applicable PRC
+law.
+
+
+--- page 11 ---
+Cornerstone 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
+(assuming the
+Over-
+allotment
+Option is not
+exercised)
+% of
+shareholding
+in the
+Company
+subject to
+lock-up
+undertakings
+upon listing
+(assuming the
+Over-
+allotment
+Option is not
+exercised)
+Last day
+subject to the
+lock-up
+undertakings
+Huang River
+Investment
+Limited
+6,751,000 7.38% 4.09% December 27,
+2024
+China
+Southern
+Asset
+Management
+Co., Ltd.
+2,025,300 2.22% 1.23% December 27,
+2024
+CPE Greater
+China
+Enterprises
+Growth Fund
+2,025,300 2.22% 1.23% December 27,
+2024
+Subtotal 10,801,600 11.82% 6.55%
+The expiry date of the lock -up period shown in the table above is pursuant to the relevant
+Cornerstone Investment Agreement.
+
+
+--- page 12 ---
+PLACEE CONCENTRATION ANALYSIS
+
+Placees
+Number of
+H Shares
+allotted
+
+Allotment as
+% of
+International
+Offering
+(assuming no
+exercise of the
+Over-
+allotment
+Option)
+Allotment as
+% of
+International
+Offering
+(assuming the
+Over-
+allotment
+Option is
+exercised and
+new H Shares
+are issued)
+Allotment as %
+of total Offer
+Shares
+(assuming no
+exercise of the
+Over- allotment
+Option)
+Allotment as
+% of total
+Offer Shares
+(assuming the
+Over-
+allotment
+Option is
+exercised and
+new H Shares
+are issued)
+Number of
+ Shares held
+upon Listing
+
+% of total issued
+share capital
+upon Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+·% of total
+issued share
+capital upon
+Listing
+(assuming the
+Over-allotment
+Option is
+exercised and
+new H Shares
+are issued)
+Top 1 6,751,000 60.36% 46.43% 30.18% 26.24% 6,751,000 4.09% 4.01%
+Top 5 11,570,200 103.45% 79.58% 51.72% 44.98% 16,347,700 9.91% 9.71%
+Top 10 12,854,700 114.93% 88.41% 57.47% 49.97% 17,632,200 10.69% 10.47%
+Top 25 14,102,500 126.09% 96.99% 63.05% 54.82% 18,880,000 11.44% 11.21%
+Notes
+* 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
+(assuming no
+exercise of
+the Over-
+allotment
+Option)
+Allotment as
+% of
+International
+Offering
+(assuming
+the Over-
+allotment
+Option is
+exercised
+and new H
+Shares
+arssue
+Allotment
+as % of
+total Offer
+Shares
+(assuming
+no
+exercise of
+the Over-
+allotment
+Option)
+Allotment
+as % of
+total
+Offer
+Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised
+and
+new H
+Shares
+are
+issued)
+Number of
+H Shares
+held upon
+Listing
+
+% of total
+issued H
+Shares
+capital
+upon
+Listing
+(assuming
+no
+exercise
+of the
+Over-
+allotment
+Option)
+% of
+total
+issued H
+Shares
+capital
+upon
+Listing
+(assuming
+the Over-
+allotment
+Option is
+exercised
+and
+new H
+Shares
+are
+issued)
+Number of
+Shares held
+upon Listing
+
+ Top 1 - 0.00% 0.00% 0.00% 0.00% 45,584,410 49.86% 48.10% 111,639,800
+ Top 5 7,135,300 63.80% 49.07% 31.90% 27.74% 69,384,660 75.90% 73.21% 142,976,500
+ Top 10 11,185,900 100.01% 76.93% 50.01% 43.48% 78,980,460 86.39% 83.33% 152,572,300
+ Top 25 13,687,600 122.38% 94.14% 61.19% 53.21% 82,738,260 90.50% 87.30% 156,330,100
+Notes
+* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
+
+
+--- page 13 ---
+SHAREHOLDER CONCENTRATION ANALYSIS
+Shareho
+lders
+Number
+ of H
+Shares a
+llotted
+
+Allotment
+as % of
+Internationa
+l Offering
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+Allotment
+as % of
+Internationa
+l Offering
+(assuming
+the Over-
+allotment
+Option is
+exercised
+and new H
+Shares are
+issued)
+Allotment
+as % of
+total Offer
+Shares
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+Allotment
+as % of
+total Offer
+Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised
+and new H
+Shares are
+issued)
+Number of
+H Shares
+held upon
+Listing
+Number of
+Shares held
+upon
+Listing
+
+% of total
+issued share
+capital upon
+Listing
+(assuming
+no exercise
+of the Over-
+allotment
+Option)
+% of total
+issued share
+capital
+upon
+Listing
+(assuming
+the Over-
+allotment
+Option is
+exercised
+and new H
+Shares are
+issued)
+Top 1 0 0.00% 0.00% 0.00% 0.00% 45,584,410 111,639,800 67.66% 66.31%
+Top 5 7,135,3
+00 63.80% 49.07% 31.90% 27.74% 69,384,660 142,976,500 86.65% 84.92%
+Top 10 11,185,
+900 100.01% 76.93% 50.01% 43.48% 78,980,460 152,572,300 92.46% 90.62%
+Top 25 13,687,
+600 122.38% 94.14% 61.19% 53.21% 82,738,260 156,330,100 94.74% 92.85%
+Notes
+* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.
+
+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 H SHARES
+APPLIED FOR
+NO. OF VALID
+APPLICATIONS
+BASIS OF
+ALLOTMENT/BALLOT
+APPROXIMATE
+PERCENTAGE
+ALLOTTED OF THE
+TOTAL NO. OF H SHARES
+APPLIED FOR
+100 8,000 0 H Shares 3.39% 100 281 100 H Shares
+200 5,111 0 H Shares 3.38% 200 371 100 H Shares
+300 530 0 H Shares 3.34% 300 59 100 H Shares
+400 288 0 H Shares 3.31% 400 44 100 H Shares
+500 635 0 H Shares 3.29% 500 125 100 H Shares
+600 173 0 H Shares 3.26% 600 42 100 H Shares
+700 113 0 H Shares 3.23% 700 33 100 H Shares
+
+
+--- page 14 ---
+800 157 0 H Shares 3.20% 800 54 100 H Shares
+900 129 0 H Shares 3.19% 900 52 100 H Shares
+1,000 5,811 0 H Shares 3.16% 1,000 2,686 100 H Shares
+1,500 216 0 H Shares 3.16% 1,500 195 100 H Shares
+2,000 903 0 H Shares 3.15% 2,000 1,538 100 H Shares
+2,500 81 0 H Shares 3.15% 2,500 299 100 H Shares
+3,000 38 0 H Shares 3.14% 3,000 622 100 H Shares
+3,500 170 100 H Shares 3.14% 3,500 19 200 H Shares
+4,000 276 100 H Shares 3.13% 4,000 93 200 H Shares
+4,500 470 100 H Shares 3.13% 4,500 325 200 H Shares
+5,000 408 100 H Shares 3.13% 5,000 531 200 H Shares
+6,000 48 100 H Shares 3.13% 6,000 353 200 H Shares
+7,000 210 200 H Shares 3.13% 7,000 50 300 H Shares
+8,000 145 200 H Shares 3.13% 8,000 149 300 H Shares
+9,000 28 200 H Shares 3.13% 9,000 126 300 H Shares
+10,000 1,991 300 H Shares 3.13% 10,000 298 400 H Shares
+20,000 2,132 600 H Shares 3.13% 20,000 750 700 H Shares
+30,000 299 900 H Shares 3.13% 30,000 199 1,000 H Shares
+40,000 120 900 H Shares 2.41% 40,000 224 1,000 H Shares
+50,000 96 900 H Shares 1.93% 50,000 185 1,000 H Shares
+60,000 58 900 H Shares 1.61% 60,000 112 1,000 H Shares
+70,000 41 900 H Shares 1.38% 70,000 86 1,000 H Shares
+80,000 31 900 H Shares 1.21% 80,000 71 1,000 H Shares
+90,000 15 900 H Shares 1.08% 90,000 36 1,000 H Shares
+
+
+--- page 15 ---
+100,000 70 900 H Shares 0.98% 100,000 286 1,000 H Shares
+150,000 2,132 1,000 H Shares 0.67%
+200,000 107 1,200 H Shares 0.63% 200,000 137 1,300 H Shares
+250,000 54 1,400 H Shares 0.59% 250,000 160 1,500 H Shares
+300,000 34 1,700 H Shares 0.59% 300,000 78 1,800 H Shares
+350,000 44 2,000 H Shares 0.59% 350,000 81 2,100 H Shares
+400,000 34 2,300 H Shares 0.59% 400,000 50 2,400 H Shares
+450,000 14 2,600 H Shares 0.59% 450,000 15 2,700 H Shares
+500,000 46 2,900 H Shares 0.59% 500,000 46 3,000 H Shares
+600,000 35 3,500 H Shares 0.59% 600,000 22 3,600 H Shares
+700,000 14 4,100 H Shares 0.59% 700,000 6 4,200 H Shares
+800,000 32 4,700 H Shares 0.59% 800,000 8 4,800 H Shares
+900,000 8 5,300 H Shares 0.59%
+972,600 142 5,700 H Shares 0.59% 972,600 88 5,800 H Shares
+Total 42,474 11,184,500 H Shares
+
+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, its 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 was the same as the Offer Price
+in addition to any brokerage, AFRC transaction levy, SFC transaction levy and trading fee
+payable.
+
+
+--- page 16 ---
+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 a ccuracy 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 solic itation 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. The securities mentioned herein 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”). The securities may not be offered or sold in the United States, except
+pursuant to an exemption 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 r ead the
+Prospectus for detailed information about the Company and the Global Offering described
+below before deciding whether or not to invest in the Offer Shares.
+# Potential investors of the Offer Shares should note that the Sole Overall Coordinator (f or
+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 – 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 June 28, 2024)
+
+
+--- page 17 ---
+3
+PUBLIC FLOAT
+Immediately after the completion of the Global Offering, 45,835,150 H Shares, representing
+approximately 27.78% of the issued share capital of our Company will count towards the public
+float (assuming the Over-allotment Option is not exercised), 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 compliance 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, June 28, 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, June 28, 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, June 28, 2024. The H Shares will be traded in
+board lots of 100 H Shares each and the stock code of the H Shares will be 6181.
+By order of the Board
+Laopu Gold Co., Ltd.*
+老鋪黃金股份有限公司
+Xu Gaoming
+Chairman and Executive Director
+Hong Kong, June 27, 2024
+As at the date of this announcement, the Board of Directors of the Company comprises (i) Mr.
+Xu Gaoming, Mr. Feng Jianjun, Mr. Xu Rui and Mr. Jiang Xia (effective upon Listing Date) as
+executive directors; and (ii) Mr. Sun Yijun, Dr. He Yurun and Mr. See Tak Wah (effective upon
+Listing Date) as independent non-executive directors.
+* For identification purpose only
diff --git a/data/extracted_text/06682/allotment_results_summary_2023-09-27_2023092700072.txt b/data/extracted_text/06682/allotment_results_summary_2023-09-27_2023092700072.txt
new file mode 100644
index 0000000..f96d933
--- /dev/null
+++ b/data/extracted_text/06682/allotment_results_summary_2023-09-27_2023092700072.txt
@@ -0,0 +1,1100 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE
+AND ALLOTMENT RESULT
+SUMMARY
+Offer Price
+• The Offer Price has been determined at HK$55.60 per Offer Share (exclusive of brokerage
+of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and
+AFRC transaction levy of 0.00015%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$55.60 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and other estimated expenses payable by the Company in connection with the
+Global Offering, are estimated to be approximately HK$835.5 million (assuming the Over-
+allotment Option is not exercised). The Company intends to use the net proceeds from the
+Global Offering in the manner as set out in the paragraph headed “Net Proceeds from the
+Global Offering ” in this announcement.
+• If the Over-allotment Option is exercised in full, the Company will receive additional
+net proceeds of approximately HK$148.3 million for 2,759,400 additional H Shares to be
+issued and allotted upon the exercise of the Over-allotment Option.
+Applications and Indications of Interest Received in the Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been moderately over-subscribed. A total of 12,653 valid applications have been received
+pursuant to the Hong Kong Public Offering through the HK eIPO White Form service
+and through the CCASS EIPO service for a total of 20,967,500 Hong Kong Offer Shares,
+representing approximately 11.40 times of the total number of 1,839,600 H Shares initially
+available for subscription under the Hong Kong Public Offering.
+• As the over-subscription in the Hong Kong Public Offering represents less than 15 times of
+the total number of Offer Shares initially available under the Hong Kong Public Offering,
+no reallocation procedure as disclosed in the section headed “Structure of the Global
+Offering – The Hong Kong Public Offering – Reallocation ” in the Prospectus has been
+applied and no H Shares have been reallocated from the International Offering to the Hong
+Kong Public Offering. The final number of H Shares under the Hong Kong Public Offering
+is 1,839,600 H Shares, representing 10% of the total number of Offer Shares initially
+available under the Global Offering (before any exercise of the Over-allotment Option).
+The total number of successful applicants under the Hong Kong Public Offering is 7,348,
+among which 6,616 Shareholders were allocated with one board lot of the H Shares.
+
+
+--- page 2 ---
+4
+International Offering
+• The H Shares initially offered under the International Offering have been over-subscribed,
+representing approximately 1.57 times of the total number of H Shares initially available
+under the International Offering. The final number of H Shares under the International
+Offering is 16,556,400 H Shares, representing 90% of the total number of H Shares initially
+available under the Global Offering (before any exercise of the Over-allotment Option).
+There has been an over-allocation of 2,759,400 H Shares.
+• A total of 154 placees have been allotted five board lots of H Shares or less, representing
+approximately 85.56% of the 180 placees under the International Offering. These placees
+have been allotted 30,500 H Shares in total, representing approximately 0.18% of the Offer
+Shares available under the International Offering and 0.17% of the Offer Shares available
+under the Global Offering (both assuming the Over-allotment Option is not exercised).
+• A total of 99 placees have been allotted one board lot of H Shares or less, representing
+approximately 55.00% of the 180 placees under the International Offering. These placees
+have been allotted 9,900 H Shares in total, representing approximately 0.06% of the Offer
+Shares available under the International Offering and 0.05% of the Offer Shares available
+under the Global Offering (both assuming the Over-allotment Option is not exercised).
+Cornerstone Investors
+• Based on the Offer Price of HK$55.60 per Offer Share (exclusive of brokerage of 1%,
+SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%), pursuant to the Cornerstone Investment Agreements, the
+Cornerstone Investors have subscribed for a total of 13,566,300 H Shares, representing in
+aggregate (a) approximately 2.92% of the issued share capital of the Company immediately
+upon completion of the Global Offering and (b) approximately 73.75% of the number
+of Offer Shares under the Global Offering, in each case assuming the Over-allotment
+Option is not exercised. Please refer to the section headed “Cornerstone Investors ” in the
+Prospectus for further details of the Cornerstone Investors.
+Placing of Offer Shares with Consent under the Placing Guidelines
+• Under the International Offering, 920,100 H Shares, representing approximately 5.00% of
+the H Shares initially available under the Global Offering (assuming the Over-allotment
+Option is not exercised), were placed to CICC Financial Trading Limited as connected
+client within the meaning of the Placing Guidelines. An application has been made to the
+Stock Exchange for, and the Stock Exchange has granted a consent under paragraph 5(1)
+of the Placing Guidelines to permit the Company to allocate H Shares in the International
+Offering to the above connected client. The H Shares placed to the above connected client
+are held on behalf of independent third parties on a non-discretionary basis and are in
+compliance with all the conditions under the consent granted by the Stock Exchange.
+
+
+--- page 3 ---
+5
+• The International Offering is in compliance with the Placing Guidelines for Equity
+Securities in Appendix 6 to the Listing Rules (the “Placing Guidelines ”). Save as disclosed
+in the section headed “International Offering { Placees with the Consent under Paragraph
+5(1) of Placing Guidelines ”, none of the Sole Sponsor, the Overall Coordinators, the Joint
+Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the Underwriters,
+the Capital Market Intermediaries and their respective affiliated companies and connected
+clients of the lead broker or of any distributors (as defined in the Placing Guidelines) has
+taken up any Offer Shares for its own benefit under the Global Offering.
+• The Directors confirm that, to the best of their knowledge and information, save as
+disclosed in the section headed “International Offering { Placees with the Consent
+under Paragraph 5(1) of Placing Guidelines ”, no Offer Shares under the International
+Offering placed by or through the Overall Coordinators, the Joint Global Coordinators,
+the Joint Bookrunners, the Joint Lead Managers, the Underwriters or the Capital Market
+Intermediaries under the Global Offering have been placed with any core connected person
+(as defined in the Listing Rules) of the Company, or to any connected clients (as set out
+in paragraph 5(1) of the Placing Guidelines), or persons set out in paragraph 5(2) of the
+Placing Guidelines, whether in their own names or through nominees.
+Confirmations of Cornerstone Investors, public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering
+• To the best knowledge of the Company, (i) none of the Offer Shares subscribed by
+public Shareholders in the Hong Kong Public Offering and placees in the International
+Offering has been directly or indirectly financed by the Company, the Directors, chief
+executive, Supervisors, the Controlling Shareholders, Substantial Shareholders, existing
+Shareholders or any of their subsidiaries or their respective close associates; and (ii)
+none of the public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering who has subscribed for the Offer Shares is accustomed to taking
+instructions from the Company, the Directors, chief executive, Supervisors, the Controlling
+Shareholders, Substantial Shareholders, existing Shareholders or any of their subsidiaries
+or their respective close associates in relation to the acquisition, disposal, voting or other
+disposition of the H Shares registered in their name or otherwise held by them; (iii) there
+is no side agreement or arrangement between the Company, any of the Directors, chief
+executive, the Controlling Shareholders, substantial Shareholders, existing Shareholders
+of the Company or any of its subsidiaries or their respective close associates, on one
+hand, and the public subscribers or the placee who has subscribed for the Offer Shares, on
+the other hand; (iv) no rebate has been, directly or indirectly, provided by the Company,
+the Directors, chief executive of the Company, the Controlling Shareholders, substantial
+Shareholders of the Company, existing Shareholders of the Company or any of their
+subsidiaries or their respective close associates or syndicate members or any other brokers
+or underwriters to any public Shareholders in the Hong Kong Public Offering or placees
+in the International Offering; and (v) the consideration payable by the public Shareholders
+in the Hong Kong Public Offering and placees in the International Offering for each Share
+subscribed for or purchased by them is the same as the final Offer Price as determined by
+the Company, in additional to brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC
+transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%.
+
+
+--- page 4 ---
+6
+Over-allotment Option
+• In connection with the Global Offering, we have granted the Over-allotment Option to the
+International Underwriters, exercisable by the Overall Coordinators (for themselves and on
+behalf of the International Underwriters), at any time from the Listing Date until 30 days
+after the last day for lodging applications under the Hong Kong Public Offering, to require
+us to allot and issue up to an aggregate of 2,759,400 additional H Shares, representing not
+more than 15% of the total number of Offer Shares initially available under the Global
+Offering, at the Offer Price to cover the over-allocations in the International Offering.
+• There has been an over-allocation of 2,759,400 H Shares in the International Offering and
+such over-allocation will be settled by H Shares purchased by the Stabilizing Manager (or
+through its affiliates or any person acting for it) in the secondary market at prices that do
+not exceed the Offer Price, the exercise of the Over-allotment Option or a combination of
+both. In the event the Over-allotment Option is exercised, an announcement will be made
+on the Company ’s website and the website of the Stock Exchange at www.4paradigm.com
+and www.hkexnews.hk , respectively. As at the date of this announcement, the Over-
+allotment Option has not been exercised.
+Public Float
+• Immediately following the completion of the Global Offering, assuming the Over-
+Allotment Option is not exercised, the number of H Shares in the public hands represents
+no less than 25% of the total issued share capital of the Company.
+• The Directors confirm that there will be at least 300 Shareholders at the time of the Listing
+in compliance with Rule 8.08(2) of the Listing Rules, and that the three largest public
+Shareholders do not hold more than 50% of the shares held in public hands at the time of
+the Listing in compliance with Rule 8.08(3) of the Listing Rules.
+Results of Allocation
+Results of applications in the Hong Kong Public Offering, the level of indications of interests in
+the International Offering, the level of applications in the Hong Kong Public Offering and the
+basis of allocation of the Hong Kong Offer Shares will be published on Wednesday, September
+27, 2023, on the websites of the Company at www.4paradigm.com and the Stock Exchange at
+www.hkexnews.hk .
+• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
+Offering successfully applied for through the HK eIPO White Form service or through
+the CCASS EIPO service, including the Hong Kong identity card numbers, passport
+numbers or Hong Kong business registration numbers, certificate of incorporation numbers
+of successful applicants (where applicable) and the number of Hong Kong Offer Shares
+successfully applied for, will be made available at the times and dates and in the manner
+specified below:
+• in the announcement to be posted on the Company ’s website and the website at
+www.4paradigm.com and the Stock Exchange ’s website at www.hkexnews.hk by no later
+than 8:00 a.m. on Wednesday, September 27, 2023;
+
+
+--- page 5 ---
+7
+• from the “IPO Results ” function in the IPO App and the designated results of allocations
+website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search
+by ID ” function on a 24-hour basis from 8:00 a.m. on Wednesday, September 27, 2023 to
+12:00 midnight, on Tuesday, October 3, 2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between
+9:00 a.m. and 6:00 p.m. on Wednesday, September 27, 2023 to Tuesday, October 3, 2023
+(except Saturday, Sunday and public holiday in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White
+Form ” in this announcement refer to Hong Kong identity card numbers/passport numbers/
+Hong Kong business registration numbers/certificate of incorporation numbers/beneficial owner
+identification codes (if such applications are made by nominees as agent for the benefit of
+another person) whereas those displayed in the section headed “Results of Applications Made
+by Giving Electronic Application Instructions to HKSCC via CCASS ” in this announcement are
+provided by CCASS Participants via CCASS. Therefore, the identification document numbers
+shown in the two sections are different in nature.
+Please note that the list of identification document numbers set out in this announcement
+may not be a complete list of successful applicants since only successful applicants whose
+identification document numbers are provided to HKSCC by CCASS Participants or via the
+HK eIPO White Form service are disclosed. Applicants with beneficial names only but not
+identification document numbers are not disclosed due to personal privacy issue as elaborated
+below. Applicants who applied for the Hong Kong Offer Shares through their brokers can
+consult their brokers to enquire about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK
+eIPO White Form ” and “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS ” are redacted and not all details of applications are disclosed
+in this announcement.
+Despatch/Collection of H Share Certificates/e-Auto Refund Payment Instructions/Refund
+Checks
+• Applicants who applied for 500,000 Hong Kong Offer Shares or more through the HK
+eIPO White Form service and who have been successfully or partially successfully
+allocated Hong Kong Offer Shares and are eligible to collect H Share certificates in person
+may collect H Share certificates from the H Share Registrar, Tricor Investor Services
+Limited, at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong from 9:00 a.m. to
+1:00 p.m. on Wednesday, September 27, 2023, or any other place or date the Company may
+notify.
+• Applicants being individuals who are eligible for personal collection cannot authorize any
+other person to make collection on their behalf. Corporate applicants which are eligible
+for personal collection must attend by their authorised representatives bearing letters
+of authorisation from their corporations stamped with the corporations ’ chops. Both
+individuals and authorised representatives (if applicable) must produce, at the time of
+collection, evidence of identity acceptable to Tricor Investor Services Limited.
+
+
+--- page 6 ---
+8
+• H Share certificates for Hong Kong Offer Shares allocated to applicants who applied
+through the HK eIPO White Form service which are either not available for personal
+collection or which are available but are not collected in person by 1:00 p.m. on
+Wednesday, September 27, 2023, are expected to be despatched by ordinary post to those
+entitled to them at their own risk on or before Wednesday, September 27, 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their H Share certificates issued in the
+name of HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participants who gave electronic application instructions on their behalf on Wednesday,
+September 27, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them with that CCASS Participant.
+• Applicants who applied through the HK eIPO White Form service and paid the
+application monies from a single bank account will have refund monies (if any) despatched
+to their application payment accounts in the form of e-Auto Refund payment instructions
+on Wednesday, September 27, 2023. Applicants who applied through the HK eIPO White
+Form service and paid the application monies from multiple bank accounts will have
+refund monies (if any) despatched to the addresses specified on their HK eIPO White
+Form applications in the form of refund check(s) in favour of the applicant (or, in the case
+of joint applications, the first-named applicant) by ordinary post at their own risk on or
+before Wednesday, September 27, 2023.
+• Refund monies for applicants who have applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their brokers or custodians on
+Wednesday, September 27, 2023.
+• H Share certificates will only become valid certificates of title at 8:00 a.m. on the Listing
+Date which is expected to be Thursday, September 28, 2023, provided that the Global
+Offering has become unconditional in all respects at or before that time 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.
+• The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+Commencement of Dealings
+• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
+a.m. on Thursday, September 28, 2023 (Hong Kong time), dealings in the H Shares on the
+Main Board of the Stock Exchange are expected to commence at 9:00 a.m. on Thursday,
+September 28, 2023 (Hong Kong time). The H Shares will be traded in board lots of 100 H
+Shares each. The stock code of the H Shares is 6682.
+In view of the high concentration of shareholding in a small number of Shareholders,
+Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of H Shares traded, and should exercise
+extreme caution when dealing in H Shares.
+
+
+--- page 7 ---
+9
+OFFER PRICE
+The Offer Price has been determined at HK$55.60 per H Share (exclusive of brokerage of 1%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy
+of 0.00015%.
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$55.60 per H Share, the net proceeds from the Global Offering
+to be received by the Company, after deduction of underwriting fees and commissions and other
+estimated expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$835.5 million (assuming the Over-allotment Option is not exercised).
+The Company intends to apply the net proceeds as follows:
+• Approximately 60%, or HK$501.3 million, will be allocated over the next three years to
+enhance our fundamental research, technological capabilities and solution development:
+o Approximately 25%, or HK$208.9 million, will be used to strengthen our research
+and development team over the next three years, including:
+(i) approximately 20%, or HK$167.1 million for the research and development
+team of our core technologies. Specifically, we intend to allocate:
+• approximately 11%, or HK$91.9 million for our AutoML technologies.
+Advancements in AutoML will lower the barrier for AI application
+development, help us attract more developers, and expand and upgrade our
+developer suites, especially the HyperCycle series;
+• approximately 3%, or HK$25.1 million for our transfer learning technologies,
+which will further enhance the ability of our solutions to be applied across
+difference scenarios, thereby reducing the cost of expansion into new use
+cases and industry vectors;
+• approximately 3%, or HK$25.1 million for our environment learning
+technologies, which helps further improve data quality and reduce the cost of
+model training;
+• approximately 3%, or HK$25.1 million for our AutoRL technologies, which
+will further lower the barriers for reinforcement learning by automating the
+process.
+(ii) approximately 5%, or HK$41.8 million for the research and development
+team of new areas which may lead to the next generation of AI technologies.
+
+
+--- page 8 ---
+10
+• Approximately 35%, or HK$292.4 million, will be used to strengthen our research and
+development capabilities. Specifically:
+(i) approximately 4%, or HK$33.4 million for the procurement and installation of
+equipment, devices and/or software to support our increasing business needs over
+the next three years.
+(ii) approximately 7%, or HK$58.5 million for the establishment of our new research
+and development centers.
+(iii) approximately 20%, or HK$167.1 million for strengthening our relationship with
+third-party R&D service providers to further expand our R&D capabilities.
+(iv) approximately 4%, or HK$33.4 million for the cultivation of the OpenMLDB
+community to enhance the activeness and engagement of all AI developers
+partnerships.
+• Approximately 20%, or HK$167.1 million, will be allocated to expand our offerings,
+build our brand and enter into new industry sectors. We plan to further apportion the
+use of proceeds as follows.
+o Approximately 12%, or HK$100.3 million, will be used to recruit and retain
+talents in various industries to strengthen our sales and marketing team, thereby
+leveraging their industry-specific sales experiences to expand our user base and to
+increase our customer loyalty, which in turn may increase customers ’ spending on
+our platform.
+o Approximately 8%, or HK$66.8 million, will be used to promote our solutions and
+offerings by engaging in more marketing activities through both offline and online
+channels. Specifically:
+(i) approximately 6%, or HK$50.1 million will be allocated for organizing and
+sponsoring high impact events over the next three years. We intend to host
+two large-scale offline conferences annually, one for developers and the
+other for users. We also plan to organize one or more industry discussions on
+a weekly basis. Furthermore, we will also sponsor other influential industry
+conferences to increase our brand exposure.
+(ii) approximately 2%, or HK$16.7 million will be allocated for collaborating
+with online media partners to promote our brand awareness among users and
+potential users.
+
+
+--- page 9 ---
+11
+• Approximately 10%, or HK$83.6 million, will be allocated over the next three years to
+pursue strategic investment and acquisition opportunities to implement our long-term
+growth strategy to develop our solutions and expand and penetrate the industry verticals
+we cover.
+• Approximately 10%, or HK$83.6 million, will be used for general corporate purposes.
+If the Over-allotment Option is exercised in full, the Company will receive additional net proceeds
+of approximately HK$148.3 million for 2,759,400 additional H Shares to be issued and allotted
+upon the exercise of the Over-allotment Option. For further information, please refer to the section
+headed “Future Plans and Use of Proceeds ” in the Prospectus.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have been
+moderately over-subscribed. At the close of the application lists at 12:00 noon on Thursday,
+September 21, 2023, a total of 12,653 valid applications have been received pursuant to the Hong
+Kong Public Offering through the HK eIPO White Form service and through the CCASS EIPO
+service for a total of 20,967,500 Hong Kong Offer Shares, representing approximately 11.40 times
+of the total number of 1,839,600 Offer Shares initially available for subscription under the Hong
+Kong Public Offering, among which:
+• 12,602 valid applications in respect of a total of 13,827,700 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount based on the
+maximum Offer Price of HK$61.16 per H Share (excluding brokerage of 1%, SFC transaction
+levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy of
+0.00015%) of HK$5 million or less, representing approximately 15.03 times of the 919,800
+Hong Kong Offer Shares initially comprised in Pool A; and
+• 51 valid applications in respect of a total of 7,139,800 Hong Kong Offer Shares were for the
+Hong Kong Public Offering with an aggregate subscription amount based on the maximum
+Offer Price of HK$61.16 per Offer Share (excluding brokerage of 1%, SFC transaction
+levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy of
+0.00015%) of more than HK$5 million, representing approximately 7.76 times of the 919,800
+Hong Kong Offer Shares initially comprised in Pool B.
+1 application has been rejected due to dishonored payments. No invalid application has been
+identified and rejected. 2 multiple applications or suspected multiple applications have been
+identified and rejected. No application for more than 919,800 (being 50% of the 1,839,600 Hong
+Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
+
+
+--- page 10 ---
+12
+As the over-subscription in the Hong Kong Public Offering is less than 15 times, no reallocation
+procedure as disclosed in the section headed “Structure of the Global Offering – The Hong Kong
+Public Offering – Reallocation ” in the Prospectus has been applied and no H Shares have been
+reallocated from the International Offering to the Hong Kong Public Offering. The final number of
+Offer Shares under the Hong Kong Public Offering is 1,839,600 H Shares, representing 10% of the
+total number of Offer Shares initially available under the Global Offering (before any exercise of
+the Over-allotment Option). The total number of successful applicants under the Hong Kong Public
+Offering is 7,348, among which 6,616 Shareholders were allocated with one board lot of the H
+Shares.
+The H Shares offered in the Hong Kong Public Offering were conditionally allocated on the basis
+set out in the paragraph headed “Basis of Allocation under the Hong Kong Public Offering ” below.
+INTERNATIONAL OFFERING
+The H Shares initially offered under the International Offering have been over-subscribed,
+representing approximately 1.57 times of the total number of H Shares initially available under
+the International Offering. The final number of Offer Shares allocated to the placees under the
+International Offering is 16,556,400 H Shares, representing 90% of the total number of Offer
+Shares initially available under the Global Offering (before any exercise of the Over-allotment
+Option).
+There has been an over-allocation of 2,759,400 H Shares.
+A total of 154 placees have been allotted five board lots of H Shares or less, representing
+approximately 85.56% of the 180 placees under the International Offering. These placees have
+been allotted 30,500 H Shares in total, representing approximately 0.18% of the Offer Shares
+initially available under the International Offering and 0.17% of the Offer Shares available under
+the Global Offering (both assuming the Over-allotment Option is not exercised).
+A total of 99 placees have been allotted one board lot of H Shares or less, representing
+approximately 55.00% of the 180 placees under the International Offering. These placees have been
+allotted 9,900 H Shares in total, representing approximately 0.06% of the Offer Shares available
+under the International Offering and 0.05% of the Offer Shares available under the Global Offering
+(both assuming the Over-allotment Option is not exercised).
+Cornerstone Investors
+Based on the Offer Price of HK$55.60 per Offer Share (excluding brokerage of 1%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy
+of 0.00015%) and pursuant to the Cornerstone Investment Agreements as disclosed in the section
+headed “Cornerstone Investors ” in the Prospectus, the number of Offer Shares subscribed for by
+the Cornerstone Investors is determined as set out below:
+Name of Cornerstone Investor
+Investment
+Amount
+(in HK$ million) (1)
+Number
+of Offer
+Shares to
+be acquired (2)
+Approximate %
+of the Offer
+Shares (3)
+Approximate %
+of H Shares
+in issue (3)
+Approximate %
+of the total
+Shares
+in issue (3)
+New China Capital Management 365.00 6,564,700 35.69 4.91 1.41
+Beijing Zhongguancun 310.92 5,592,100 30.40 4.18 1.21
+Montage Holdings 78.37 1,409,500 7.66 1.05 0.30
+Total 754.29 13,566,300 73.75 10.15 2.92
+
+
+--- page 11 ---
+13
+Notes:
+(1) The investment amount equals the Offer Price multiplied by the number of Offer Shares to be acquired.
+(2) The number of Offer Shares to be acquired is rounded down to the nearest whole board lot of 100 H Shares.
+(3) Assuming the Over-allotment Option is not exercised.
+(4) The percentages are subject to rounding differences, if any.
+Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further details
+relating to the Cornerstone Investors.
+Placing of Offer Shares with Consent under the Placing Guidelines
+Certain Offer Shares were placed to the connected client of one of the brokers involved in the
+Global Offering (the “Connected Broker ”) within the meaning of the Placing Guidelines, details
+of which are set out below:
+Connected Broker Placee
+Number of
+Offer Shares
+Placed
+Approximate
+% of the
+Offer Shares
+initially
+available
+under the
+Global
+Offering (1)
+Approximate
+% of the
+total issued
+capital
+immediately
+following the
+completion
+of the Global
+Offering (1)
+Relationship
+with the
+Connected Broker
+China International
+ Capital Corporation
+ Hong Kong Securities
+ Limited ( “CICC”)
+CICC Financial
+ Trading
+ Limited
+ ( “CICC FT ”)
+920,100 5.00 0.20 CICC and CICC FT
+ are fellow
+ subsidiaries of
+ China International
+ Capital Corporation
+ Limited
+(1) Assuming that the Over-allotment Option is not exercised.
+(2) CICC FT and CICC have entered into a series of cross border delta-one OTC swap
+transactions (the “OTC Swaps ”) with each other and with the CICC FT Ultimate Client (as
+defined below). The Shares placed to CICC FT (the “CICC FT Offer Shares ”) will be held
+by CICC FT for the purpose of hedging the economic exposure under the OTC Swaps only,
+and CICC FT will pass through the economic exposure of the CICC FT Offer Shares to its
+ultimate client (the “CICC FT Ultimate Client ”) on a non-discretionary basis subject to the
+terms and conditions of the OTC Swaps documents: (i) during the tenor of the OTC Swaps,
+all economic returns of the CICC FT Offer Shares will be passed to the CICC FT Ultimate
+Client and all economic loss shall be borne by the CICC FT Ultimate Client through the OTC
+Swaps, and CICC FT will not take part in any economic return or bear any economic loss
+in relation to the price of the CICC FT Offer Shares; (ii) the OTC Swaps are linked to the
+CICC FT Offer Shares and the CICC FT Ultimate Client may request CICC FT to redeem it
+at its own discretion, upon which CICC FT shall dispose of the CICC FT Offer Shares and
+settle OTC Swaps in cash in accordance with the terms and conditions of the OTC Swap
+documents; (iii) despite that CICC FT will hold the title of the CICC FT Offer Shares by
+itself, it will not exercise the voting right of the relevant Shares during the terms of the
+OTC Swaps as per its internal policy; to the best of CICC FT ’s knowledge, after making all
+reasonable inquiries, the CICC FT Ultimate Client and its ultimate beneficial owners are third
+parties independent from each of the Company, CICC FT and CICC.
+
+
+--- page 12 ---
+14
+An application has been made to the Stock Exchange for, and the Stock Exchange has granted a
+consent under paragraph 5(1) of the Placing Guidelines to permit the Company to allocate Offer
+Shares in the International Offering to the connected client as set above. The Offer Shares placed
+to the above connected client are held on behalf of independent third parties on a non-discretionary
+basis (save as otherwise disclosed) and are in compliance with all the conditions under the consent
+granted by the Stock Exchange.
+CONFIRMATIONS OF CORNERSTONE INVESTORS, PUBLIC SHAREHOLDERS IN
+THE HONG KONG PUBLIC OFFERING AND PLACEES IN THE INTERNATIONAL
+OFFERING
+To the best knowledge of the Company, none of the Cornerstone Investors, public Shareholders in
+the Hong Kong Public Offering and placees in the International Offering is an existing Shareholder
+or a close associate of existing Shareholders.
+Further, to the best knowledge of the Company, (i) each of the Cornerstone Investors is an
+Independent Third Party and is not a connected person of the Company (as defined in the Listing
+Rules); (ii) none of the Cornerstone Investors or Placees is accustomed to take instructions from
+our Company, the Directors, chief executive, Supervisors, Controlling Shareholders, Substantial
+Shareholders, existing Shareholders or any of its subsidiaries or their respective close associates;
+and (iii) none of the subscription of the relevant Offer Shares by any of the Cornerstone Investors
+or Placees is directly or indirectly financed by the Company, the Directors, chief executive,
+Supervisors, the Controlling Shareholders, Substantial Shareholders, existing Shareholders or any
+of its subsidiaries or their respective close associates (except for, in each case where applicable,
+the Participated Existing Shareholders who are close associates of our existing Shareholders and
+who make their own investment decisions and finance the same).
+Furthermore, to the best knowledge of the Company, (i) none of the Offer Shares subscribed by
+public Shareholders in the Hong Kong Public Offering and placees in the International Offering has
+been directly or indirectly financed by the Company, the Directors, chief executive, Supervisors,
+the Controlling Shareholders, Substantial Shareholders, existing Shareholders or any of their
+subsidiaries or their respective close associates; (ii) none of the public Shareholders in the Hong
+Kong Public Offering and placees in the International Offering who has subscribed for the Offer
+Shares is accustomed to taking instructions from the Company, the Directors, chief executive,
+Supervisors, the Controlling Shareholders, Substantial Shareholders, existing Shareholders or any
+of their subsidiaries or their respective close associates in relation to the acquisition, disposal,
+voting or other disposition of the Shares registered in their name or otherwise held by them;
+(iii) there is no side agreement or arrangement between the Company, any of the Directors,
+chief executive, the Controlling Shareholders, substantial Shareholders, existing Shareholders
+of the Company or any of its subsidiaries or their respective close associates, on one hand, and
+the public subscribers or the placee who has subscribed for the Offer Shares, on the other hand;
+(iv) no rebate has been, directly or indirectly, provided by the Company, the Directors, chief
+executive of the Company, the Controlling Shareholders, substantial Shareholders of the Company,
+existing Shareholders of the Company or any of their subsidiaries or their respective close
+associates or syndicate members or any other brokers or underwriters to any public Shareholders in
+the Hong Kong Public Offering or placees in the International Offering; and (v) the consideration
+payable by the public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering for each Share subscribed for or purchased by them is the same as the final
+Offer Price as determined by the Company, in additional to brokerage of 1.0%, SFC transaction
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
+0.00565%.
+
+
+--- page 13 ---
+15
+No Offer Shares placed by or through the Overall Coordinators, the Joint Global Coordinators, the
+Joint Bookrunners, the Joint Lead Managers and the Underwriters under the Global Offering have
+been placed with any core connected person (as defined in the Listing Rules) of the Company, or
+any connected clients (as set out in paragraph 5(1) of the Placing Guidelines) or persons set out in
+paragraph 5(2) of the Placing Guidelines, whether in their own names or through nominees. The
+Directors confirm that save as disclosed above, no placees will, individually, be placed more than
+10% of the enlarged issued share capital of the Company immediately after the Global Offering.
+OVER-ALLOTMENT OPTION
+In connection with the Global Offering, the Company has granted the Over-allotment Option to the
+International Underwriters, exercisable by the Overall Coordinators (for themselves and on behalf
+of the International Underwriters), at any time from the Listing Date to the 30th day after the last
+day for lodging applications under the Hong Kong Public Offering, to require the Company to
+allot and issue up to an aggregate of 2,759,400 additional H Shares, representing 15% of the total
+number of H Shares initially available under the Global Offering, at the Offer Price to cover the
+over-allocations in the International Offering. There has been an over-allocation of 2,759,400 H
+Shares in the International Offering and such over-allocation will be settled by Shares purchased
+by the Stabilizing Manager (or through its affiliates or any person acting for it) in the secondary
+market at prices that do not exceed the Offer Price, the exercise of the Over-allotment Option or a
+combination of both. In the event the Over-allotment Option is exercised, an announcement will be
+made on the Company ’s website at www.4paradigm.com and on the Stock Exchange ’s website at
+www.hkexnews.hk , respectively. As at the date of this announcement, the Over-allotment Option
+has not been exercised.
+LOCK-UP OBLIGATIONS
+The Company, all existing Shareholders, and the Cornerstone Investors are subject to lock-up
+obligations (the “Lock-up Obligations ”) in respect of the Shares. The major terms of the Lock-up
+Obligations are as follows:
+Name Class of Shares
+Number of Shares
+subject to the Lock-up
+Obligations after Listing
+Percentage of
+shareholding in the
+Company subject to the
+Lock-up Obligations
+after Listing (1)
+Last day of the
+Lock-up Period
+The Company (subject to lock-up obligations pursuant to the Listing Rules and the Hong Kong Underwriting Agreement)
+N/A N/A N/A March 27, 2024 (2)
+Each of the Controlling Shareholders (subject to lock-up obligations pursuant to the Listing Rules, the Hong Kong Underwriting Agreement and PRC Company Law)
+Unlisted Shares 180,232,906 38.84% September 27, 2024 (3)
+All other existing Shareholders (subject to lock-up obligations pursuant to the PRC Company Law)
+HongShan Venture H Shares 32,259,066 6.95% September 27, 2024 (4)
+Boyu Jingtai Unlisted Shares 14,126,295 3.04% September 27, 2024 (4)
+Guoxin Qidi H Shares 12,117,394 2.61% September 27, 2024 (4)
+Xinhe No. 1 Unlisted Shares 12,077,978 2.60% September 27, 2024 (4)
+Purui Tianjin H Shares 11,301,027 2.44% September 27, 2024 (4)
+YSC Investment I Unlisted Shares 9,858,049 2.12% September 27, 2024 (4)
+China-UAE Investment (Cayman) Unlisted Shares 8,475,774 1.83% September 27, 2024 (4)
+
+
+--- page 14 ---
+16
+Name Class of Shares
+Number of Shares
+subject to the Lock-up
+Obligations after Listing
+Percentage of
+shareholding in the
+Company subject to the
+Lock-up Obligations
+after Listing (1)
+Last day of the
+Lock-up Period
+HongShan Hanchen Unlisted Shares 8,475,774 1.83% September 27, 2024 (4)
+Nanjing Paradigm Unlisted Shares 7,958,544 1.71% September 27, 2024 (4)
+Beijing Innovation H Shares 7,115,539 1.53% September 27, 2024 (4)
+Zhuhai Hongmai Unlisted Shares 7,030,079 1.51% September 27, 2024 (4)
+Zhongyi Equity Fund H Shares 7,020,480 1.51% September 27, 2024 (4)
+Sinovation Fund III H Shares 6,476,628 1.40% September 27, 2024 (4)
+CDBC Manufacturing Fund Unlisted Shares 6,356,827 1.37% September 27, 2024 (4)
+HongShan Mingde Unlisted Shares 6,352,978 1.37% September 27, 2024 (4)
+Ruihui Haina H Shares 4,896,176 1.06% September 27, 2024 (4)
+Jiangsu Jiequan Unlisted Shares 4,237,879 0.91% September 27, 2024 (4)
+Lucent Shanghai Unlisted Shares 4,237,879 0.91% September 27, 2024 (4)
+NIFA No. 1 Unlisted Shares 728,267 0.16% September 27, 2024 (4)
+H Shares 3,433,813 0.74% September 27, 2024 (4)
+HongShan Zhisheng Unlisted Shares 4,112,972 0.89% September 27, 2024 (4)
+Qingdao Chuangxin Venture Capital
+ Enterprise (Limited Partnership)
+Unlisted Shares 3,802,047 0.82% September 27, 2024 (4)
+BOCOM International Holdings Company Limited Unlisted Shares 3,672,128 0.79% September 27, 2024 (4)
+Zhuhai Xuren Unlisted Shares 3,515,032 0.76% September 27, 2024 (4)
+Major Awesome Unlisted Shares 3,442,422 0.74% September 27, 2024 (4)
+Gongqingcheng Yuanchun Investment Management
+ Partnership (Limited Partnership)
+Unlisted Shares 3,391,428 0.73% September 27, 2024 (4)
+Shenzhen Songhe Unlisted Shares 3,359,773 0.72% September 27, 2024 (4)
+Shenzhen Lingyu Unlisted Shares 3,359,773 0.72% September 27, 2024 (4)
+Value Global H Shares 3,286,016 0.71% September 27, 2024 (4)
+Shanghai Saixin Business Consulting Management
+ Center (Limited Partnership)
+H Shares 3,231,551 0.70% September 27, 2024 (4)
+Guangxi Tencent Venture Capital Co., Ltd. Unlisted Shares 1,390,806 0.30% September 27, 2024 (4)
+H Shares 1,716,985 0.37% September 27, 2024 (4)
+MIC Capital Unlisted Shares 2,966,514 0.64% September 27, 2024 (4)
+Hangzhou Fantong H Shares 2,825,253 0.61% September 27, 2024 (4)
+CPE Investment (Hong Kong) 2018 Limited Unlisted Shares 2,825,253 0.61% September 27, 2024 (4)
+Hubei Boheng H Shares 2,738,347 0.59% September 27, 2024 (4)
+JIC Tech-Inv Unlisted Shares 2,118,947 0.46% September 27, 2024 (4)
+Zhuhai Jinyiming Unlisted Shares 2,118,947 0.46% September 27, 2024 (4)
+Beijing New Power Unlisted Shares 2,118,947 0.46% September 27, 2024 (4)
+Guangzhou Yuexiu Emerging Industry Phase II
+ Investment Fund Partnership (Limited Partnership)
+H Shares 2,112,208 0.46% September 27, 2024 (4)
+Qiushi Xingde Unlisted Shares 2,048,317 0.44% September 27, 2024 (4)
+GS Asia II H Shares 2,020,055 0.44% September 27, 2024 (4)
+CNCB (Hong Kong) Investment Limited Unlisted Shares 1,988,683 0.43% September 27, 2024 (4)
+Beijing Lianxiang Smart Internet Innovation
+ Fund Partnership (Limited Partnership)
+Unlisted Shares 1,871,693 0.40% September 27, 2024 (4)
+Shenzhen Linghui Unlisted Shares 1,679,879 0.36% September 27, 2024 (4)
+Zhuhai Zhongyu Investment Enterprise
+ (Limited Partnership)
+H Shares 1,678,669 0.36% September 27, 2024 (4)
+Zhuhai Huiyuan Investment Partnership
+ (Limited Partnership)
+Unlisted Shares 1,658,357 0.36% September 27, 2024 (4)
+
+
+--- page 15 ---
+17
+Name Class of Shares
+Number of Shares
+subject to the Lock-up
+Obligations after Listing
+Percentage of
+shareholding in the
+Company subject to the
+Lock-up Obligations
+after Listing (1)
+Last day of the
+Lock-up Period
+CITIC Securities Investment Unlisted Shares 1,550,588 0.33% September 27, 2024 (4)
+Guangkong Zhongying H Shares 1,420,246 0.31% September 27, 2024 (4)
+Fangyuan Chuangying H Shares 1,412,626 0.30% September 27, 2024 (4)
+Haitong International Investment H Shares 1,412,626 0.30% September 27, 2024 (4)
+Jiaxing Chenyue H Shares 1,412,626 0.30% September 27, 2024 (4)
+Nongwan Investment Unlisted Shares 1,153,936 0.25% September 27, 2024 (4)
+Shenzhen Runxin New Vision Strategic Emerging
+ Industry Private Equity Investment Fund
+ Partnership (Limited Partnership)
+H Shares 1,130,104 0.24% September 27, 2024 (4)
+Chance Talent Unlisted Shares 1,095,339 0.24% September 27, 2024 (4)
+Cisco China H Shares 994,342 0.21% September 27, 2024 (4)
+Lianxiang Yangtze River Unlisted Shares 974,720 0.21% September 27, 2024 (4)
+Jinshi Jinrui Unlisted Shares 878,766 0.19% September 27, 2024 (4)
+Stonebridge 2020 H Shares 805,198 0.17% September 27, 2024 (4)
+Tibet Lingfeng Unlisted Shares 761,572 0.16% September 27, 2024 (4)
+Growing Fame H Shares 706,321 0.15% September 27, 2024 (4)
+Jinshi Haofeng Unlisted Shares 703,006 0.15% September 27, 2024 (4)
+Jinshi Zhiyu Unlisted Shares 703,006 0.15% September 27, 2024 (4)
+Guangzhou Yuexiu Nuocheng No. 8 Industrial
+ Investment Partnership (Limited Partnership)
+H Shares 626,139 0.13% September 27, 2024 (4)
+CITIC Construction Investment H Shares 565,044 0.12% September 27, 2024 (4)
+Hainan Yuanfengshang Unlisted Shares 540,035 0.12% September 27, 2024 (4)
+Ningbo Huiyuan Unlisted Shares 183,646 0.04% September 27, 2024 (4)
+H Shares 123,022 0.03% September 27, 2024 (4)
+Hainan BOCOM Unlisted Shares 282,522 0.06% September 27, 2024 (4)
+Dongkong Jinlong H Shares 211,892 0.05% September 27, 2024 (4)
+LF Beta H Shares 196,857 0.04% September 27, 2024 (4)
+Subtotal 265,431,627 57.20%
+Cornerstone Investors (subject to lock-up obligations pursuant to their respective Cornerstone Investment Agreements)
+New China Capital Management H Shares 6,564,700 1.41% March 27, 2024 (5)
+Beijing Zhongguancun H Shares 5,592,100 1.21% March 27, 2024 (5)
+Montage Holdings H Shares 1,409,500 0.30% March 27, 2024 (5)
+Subtotal 13,566,300 2.92%
+Notes:
+(1) Assuming the Over-allotment Option is not exercised.
+(2) The Company may not issue Shares prior to the indicated date except otherwise permitted by the Listing Rules.
+(3) Each of the Controlling Shareholder(s) shall not dispose of any of its existing Shares on or before the indicated
+date.
+
+
+--- page 16 ---
+18
+(4) Each of the other existing Shareholders shall not dispose of any of its existing Shares on or before the indicated
+date.
+(5) Each of the Cornerstone Investors shall not dispose of the Offer Shares acquired in the Global Offering on or
+before the indicated date.
+Each of the existing Shareholders are subject to statutory lock-up requirement for one year
+from the Listing Date pursuant to the PRC Company Law. As such, all existing Shareholders of
+330,418,283 Unlisted Shares and 115,246,250 H Shares (as converted from Unlisted Shares) will
+be subject to the one-year statutory lock-up requirement. Please refer to the table summarizing the
+capitalization of the Company under the paragraph headed “History, Development and Corporate
+Structure – Capitalization of our Company ” in the Prospectus for a list of the existing Shareholders
+and the paragraph headed “History, Development and Corporate Structure – Principal Terms of the
+Pre-IPO Investments and Pre-IPO Investors ’ Rights ” in the Prospectus for details of the lock-up
+requirement.
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure of the
+Global Offering – Conditions of the Hong Kong Public Offering ” in the Prospectus, 12,653 valid
+applications made by the public through the HK eIPO White Form service and the CCASS EIPO
+service will be conditionally allocated on the basis set out below:
+Pool A
+Number of
+H Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of H Shares
+applied for
+100 7,354 3,677 out of 7,354 applicants to receive 100 H Shares 50.00%
+200 648 333 out of 648 applicants to receive 100 H Shares 25.69%
+300 328 173 out of 328 applicants to receive 100 H Shares 17.58%
+400 222 119 out of 222 applicants to receive 100 H Shares 13.40%
+500 303 166 out of 303 applicants to receive 100 H Shares 10.96%
+600 125 72 out of 125 applicants to receive 100 H Shares 9.60%
+700 84 51 out of 84 applicants to receive 100 H Shares 8.67%
+800 1,476 923 out of 1,476 applicants to receive 100 H Shares 7.82%
+900 66 42 out of 66 applicants to receive 100 H Shares 7.07%
+1,000 583 379 out of 583 applicants to receive 100 H Shares 6.50%
+1,500 218 167 out of 218 applicants to receive 100 H Shares 5.11%
+2,000 227 100 H Shares 5.00%
+2,500 90 100 H Shares plus 12 out of 90 applicants to receive an additional 100 H Shares 4.53%
+3,000 239 100 H Shares plus 77 out of 239 applicants to receive an additional 100 H Shares 4.41%
+3,500 45 100 H Shares plus 23 out of 45 applicants to receive an additional 100 H Shares 4.32%
+4,000 68 100 H Shares plus 47 out of 68 applicants to receive an additional 100 H Shares 4.23%
+4,500 29 100 H Shares plus 25 out of 29 applicants to receive an additional 100 H Shares 4.14%
+5,000 101 200 H Shares 4.00%
+6,000 39 200 H Shares plus 12 out of 39 applicants to receive an additional 100 H Shares 3.85%
+7,000 18 200 H Shares plus 12 out of 18 applicants to receive an additional 100 H Shares 3.81%
+8,000 34 300 H Shares 3.75%
+
+
+--- page 17 ---
+19
+Pool A
+Number of
+H Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of H Shares
+applied for
+9,000 13 300 H Shares plus 1 out of 13 applicants to receive an additional 100 H Shares 3.42%
+10,000 133 300 H Shares plus 14 out of 133 applicants to receive an additional 100 H Shares 3.11%
+20,000 67 500 H Shares 2.50%
+30,000 27 700 H Shares 2.33%
+40,000 19 900 H Shares 2.25%
+50,000 21 1,100 H Shares 2.20%
+60,000 7 1,300 H Shares 2.17%
+70,000 2 1,500 H Shares 2.14%
+80,000 16 1,700 H Shares 2.13%
+Total 12,602 Total number of Pool A successful applicants: 7,297
+Pool B
+Number of
+H Shares
+applied for
+Number of
+valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of H Shares
+applied for
+90,000 28 11,700 H Shares 13.00%
+100,000 13 12,900 H Shares 12.90%
+200,000 4 25,700 H Shares 12.85%
+300,000 4 38,400 H Shares 12.80%
+400,000 1 51,000 H Shares 12.75%
+919,800 1 117,100 H Shares 12.73%
+Total 51 Total number of Pool B successful applicants: 51
+The final number of Offer Shares under the Hong Kong Public Offering is 1,839,600 H Shares,
+representing 10% of the total number of Offer Shares initially available under the Global Offering
+(before any exercise of the Over-allotment Option).
+RESULTS OF ALLOCATIONS
+Results of applications in the Hong Kong Public Offering, the level of indications of interests in
+the International Offering, the level of applications in the Hong Kong Public Offering and the
+basis of allocation of the Hong Kong Offer Shares will be published on Wednesday, September
+27, 2023, on the websites of the Company at www.4paradigm.com and the Stock Exchange at
+www.hkexnews.hk .
+
+
+--- page 18 ---
+20
+The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the HK eIPO White Form service or through the CCASS
+EIPO service, including the Hong Kong identity card numbers, passport numbers or Hong Kong
+business registration numbers, certificate of incorporation numbers of successful applicants (where
+applicable) and the number of the Hong Kong Offer Shares successfully applied for, will be made
+available at the times and dates and in the manner specified below:
+• in the announcement to be posted on the Company ’s website and the website of the Stock
+Exchange at www.4paradigm.com and www.hkexnews.hk , respectively, by no later than
+8:00 a.m. on Wednesday, September 27, 2023;
+• from the “IPO Results ” function in the IPO App and the designated results of allocations
+website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search by
+ID” function on a 24-hour basis from 8:00 a.m. on Wednesday, September 27, 2023 to 12:00
+midnight on Tuesday, October 3, 2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between 9:00
+a.m. and 6:00 p.m. on Wednesday, September 27, 2023 to Tuesday, October 3, 2023 (except
+Saturday, Sunday and public holiday in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White Form ”
+in this announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner identification
+codes (if such applications are made by nominees as agent for the benefit of another person)
+whereas those displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS
+Participants via CCASS. Therefore, the identification document numbers shown in the two sections
+are different in nature.
+Please note that the list of identification document numbers set out in this announcement may not
+be a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants or via the HK eIPO White
+Form service are disclosed. Applicants with beneficial names only but not identification document
+numbers are not disclosed due to personal privacy issue as elaborated below. Applicants who
+applied for the Hong Kong Offer Shares through their brokers can consult their brokers to enquire
+about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK eIPO
+White Form ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 19 ---
+21
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+International
+Placee Subscription
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offering
+(assuming no
+exercise of the
+Over-
+allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming the
+Over-
+allotment
+Option is
+exercised
+in full)
+Subscription
+as % of
+total Offer
+Shares
+(assuming no
+exercise of the
+Over-
+allotment
+Option)
+Subscription
+as % of
+Offer Shares
+(assuming the
+Over-
+allotment
+Option is
+exercised
+in full)
+% of total
+issued share
+capital upon
+Listing
+(assuming no
+exercise of the
+Over-
+allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming the
+Over-
+allotment
+Option is
+exercised
+in full)
+Top 1 6,564,700 6,564,700 39.65% 33.99% 35.69% 31.03% 1.41% 1.41%
+Top 5 17,371,900 17,371,900 104.93% 89.94% 94.43% 82.12% 3.74% 3.72%
+Top 10 18,897,900 18,897,900 114.14% 97.84% 102.73% 89.33% 4.07% 4.05%
+Top 20 19,245,200 19,245,200 116.24% 99.63% 104.62% 90.97% 4.15% 4.12%
+Top 25 19,282,800 19,282,800 116.47% 99.83% 104.82% 91.15% 4.16% 4.13%
+Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Shareholder Subscription
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offering
+(assuming no
+exercise of the
+Over-
+allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming the
+Over-
+allotment
+Option is
+exercised
+in full)
+Subscription
+as % of
+total Offer
+Shares
+(assuming no
+exercise of the
+Over-
+allotment
+Option)
+Subscription
+as % of
+Offer Shares
+(assuming the
+Over-
+allotment
+Option is
+exercised
+in full)
+% of total
+issued share
+capital upon
+Listing
+(assuming no
+exercise of the
+Over-
+allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming the
+Over-
+allotment
+Option is
+exercised
+in full)
+Top 1 – 180,232,906 0.00% 0.00% 0.00% 0.00% 38.84% 38.61%
+Top 5 – 257,677,385 0.00% 0.00% 0.00% 0.00% 55.53% 55.20%
+Top 10 – 307,348,757 0.00% 0.00% 0.00% 0.00% 66.23% 65.84%
+Top 20 12,156,800 366,877,044 73.43% 62.94% 66.08% 57.46% 79.06% 78.59%
+Top 25 12,156,800 385,470,753 73.43% 62.94% 66.08% 57.46% 83.06% 82.57%
+
+
+--- page 20 ---
+22
+Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company upon Listing:
+Shareholder Subscription
+Number of
+H Shares held
+upon Listing
+Subscription
+as % of
+International
+Offering
+(assuming no
+exercise of the
+Over-
+allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming the
+Over-
+allotment
+Option is
+exercised
+in full)
+Subscription
+as % of
+total Offer
+Shares
+(assuming no
+exercise of the
+Over-
+allotment
+Option)
+Subscription
+as % of
+Offer Shares
+(assuming the
+Over-
+allotment
+Option is
+exercised
+in full)
+% of total
+issued share
+capital upon
+Listing
+(assuming no
+exercise of the
+Over-
+allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming the
+Over-
+allotment
+Option is
+exercised
+in full)
+Top 1 – 32,259,066 0.00% 0.00% 0.00% 0.00% 6.95% 6.91%
+Top 5 – 69,813,506 0.00% 0.00% 0.00% 0.00% 15.04% 14.96%
+Top 10 12,156,800 96,776,923 73.43% 62.94% 66.08% 57.46% 20.85% 20.73%
+Top 20 15,962,400 120,191,607 96.41% 82.64% 86.77% 75.45% 25.90% 25.75%
+Top 25 17,371,900 127,259,231 104.93% 89.94% 94.43% 82.12% 27.42% 27.26%
diff --git a/data/extracted_text/06683/allotment_results_summary_2023-07-12_2023071200012.txt b/data/extracted_text/06683/allotment_results_summary_2023-07-12_2023071200012.txt
new file mode 100644
index 0000000..cfe2747
--- /dev/null
+++ b/data/extracted_text/06683/allotment_results_summary_2023-07-12_2023071200012.txt
@@ -0,0 +1,1023 @@
+--- page 1 ---
+– 4 –
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+• The Offer Price is HK$4.25 per Offer Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock
+Exchange trading fee of 0.00565%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$4.25 per Offer Share, the net proceeds from the
+Global Offering to be received by the Company (after deduction of underwriting
+commissions, and estimated expenses paid or payable by the Company in relation
+to the Global Offering, assuming the Over-allotment Option is not exercised) are
+estimated to be approximately HK$245.2 million. The Company intends to apply such
+net proceeds from the Global Offering in accordance with the purposes as set out in
+the section headed “Net Proceeds from the Global Offering” in this announcement.
+• If the Over-allotment Option is exercised in full, the net proceeds the Company will
+receive from the Global Offering will increase to approximately HK$321.9 million
+for 18,996,000 additional Offer Shares to be allotted and issued upon the exercise of
+the Over-allotment Option. The Company intends to apply the additional net proceeds
+to the purposes in the proportions as stated in the section headed “Net Proceeds from
+the Global Offering” in this announcement.
+Applications and Indications of Interest Received
+Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering
+have been significantly over-subscribed. A total of 8,928 valid applications have been
+received pursuant to the Hong Kong Public Offering through the White Form eIPO
+service and the CCASS EIPO service for a total of 164,543,000 Hong Kong Offer
+Shares, representing approximately 12.99 times of the total number of 12,664,000
+Hong Kong Offer Shares initially available for subscription under the Hong Kong
+Public Offering.
+
+
+--- page 2 ---
+– 5 –
+• As the over-subscription of the Hong Kong Public Offering is less than 15 times
+of the number of Offer Shares initially available for subscription under the Hong
+Kong Public Offering, no reallocation procedures as described in the section headed
+“Structure of the Global Offering – The Hong Kong Public Offering – Reallocation”
+in the Prospectus has been applied. The final number of Offer Shares under the
+Hong Kong Public Offering is 12,664,000 Offer Shares, representing 10.0% of the
+total number of Offer Shares initially available under the Global Offering, and being
+allocated to 5,277 successful applicants under the Hong Kong Public Offering. A
+total number of 3,548 applicants, representing 67.2% of the total number of 5,277
+successful applicants under the Hong Kong Public Offering, have been allotted
+with one board lot of Hong Kong Offer Shares. These applicants have been allotted
+1,774,000 Offer Shares, representing approximately 14.0% of the 12,664,000 Offer
+Shares initially available under the Hong Kong Public Offering.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally
+allocated on the basis set out in the paragraph headed “Basis of Allocation under the
+Hong Kong Public Offering” below.
+International Offering
+• The Offer Shares initially offered under the International Offering have been slightly
+over-subscribed, representing approximately 1.15 times of the total number of
+113,976,000 Offer Shares initially available under the International Offering (before
+any exercise of the Over-allotment Option). The final number of Offer Shares under
+the International Offering is 113,976,000 Offer Shares, representing 90.0% of the
+total number of Offer Shares initially available under the Global Offering (before any
+exercise of the Over-allotment Option).
+• There has been an over-allocation of 1,887,500 Offer Shares in the International
+Offering and there are a total of 147 placees under the International Offering. A total
+of 102 placees have been allotted five board lots of the International Offer Shares
+or less, representing approximately 69.4% of the total number of 147 placees under
+the International Offering. These placees have been allotted 52,500 Offer Shares,
+representing approximately 0.05% of the 113,976,000 Offer Shares initially available
+under the International Offering (before any exercise of the Over-allotment Option).
+A total of 99 placees have been allotted one board lot of the Shares under the
+International Offering, representing approximately 67.3% of the total number of 147
+placees under the International Offering. These placees have been allotted 49,500
+Offer Shares, representing approximately 0.04% of the 113,976,000 Offer Shares
+initially available under the International Offering (before any exercise of the Over-
+allotment Option).
+
+
+--- page 3 ---
+– 6 –
+Cornerstone Investors
+• Based on the Offer Price of HK$4.25 per Offer Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock
+Exchange trading fee of 0.00565%) and pursuant to the Cornerstone Investment
+Agreements as disclosed in the section headed “Cornerstone Investors” in the
+Prospectus, the Cornerstone Investors have subscribed for a total of 26,061,500 Offer
+Shares, representing (i) 20.6% of the Offer Shares (assuming the Over-allotment
+Option is not exercised and without taking into account any Shares which may be
+issued pursuant to the exercise of the Options under the Share Option Schemes), (ii)
+20.3% of the Offer Shares (assuming the Over-allotment Option is partially exercised
+up to 1,887,500 Offer Shares and without taking into account any Shares which may
+be issued pursuant to the exercise of the Options under the Share Option Schemes),
+(iii) 3.3% of the Shares in issue immediately upon completion of the Global Offering
+(assuming the Over-allotment Option is not exercised and without taking into account
+any Shares which may be issued pursuant to the exercise of the Options under the
+Share Option Schemes), and (iv) 3.3% of the Shares in issue immediately upon
+completion of the Global Offering (assuming the Over-allotment Option is partially
+exercised up to 1,887,500 Offer Shares and without taking into account any Shares
+which may be issued pursuant to the exercise of the Options under the Share Option
+Schemes).
+• Please refer to the section headed “International Offering – Cornerstone Investors”
+in this announcement for details relating to the subscription by the Cornerstone
+Investors.
+Confirmations Regarding Public Shareholders in the Hong Kong Public Offering and
+Placees in the International Offering
+• To the best knowledge, information and belief of the Directors, no Offer Shares
+placed by or through the Sole Overall Coordinator, the Joint Global Coordinators,
+the Joint Bookrunners, the Joint Lead Managers, or the Underwriters under the
+Global Offering have been placed with applicants and their respective ultimate
+beneficial owners who are core connected persons (as defined in the Listing Rules)
+of the Company or Directors of the Company, or to any connected clients (as set out
+in paragraph 5(1) of the Placing Guidelines), or persons set out in paragraph 5(2)
+of the Placing Guidelines, whether in their own names or through nominees. The
+International Offering is in compliance with the Placing Guidelines.
+
+
+--- page 4 ---
+– 7 –
+• The Directors confirm that, to the best of their knowledge, information and belief,
+(i) none of the Offer Shares subscribed by public Shareholders in the Hong Kong
+Public Offering and placees in the International Offering has been financed directly
+or indirectly by the Company, any of the Directors, chief executive of the Company,
+the Controlling Shareholders, the substantial shareholders (as defined in the Listing
+Rules) of the Company, the existing Shareholders of the Company or any of their
+subsidiaries or their respective close associates; (ii) none of the public Shareholders
+in the Hong Kong Public Offering and placees in the International Offering who
+has subscribed for the Offer Shares is accustomed to taking instructions from the
+Company, any of the Directors, chief executive of the Company, the Controlling
+Shareholders, the substantial shareholders of the Company, the existing Shareholders
+of the Company or any of their subsidiaries or their respective close associates
+in relation to the acquisition, disposal, voting or other disposition of the Shares
+registered in their name or otherwise held by them; (iii) no rebate has been, directly
+or indirectly, provided by the Company, the Directors, chief executive of the
+Company, the Controlling Shareholders, the substantial shareholders of the Company,
+the existing Shareholders of the Company or any of their subsidiaries, or their
+respective close associates, or syndicate members or any brokers or underwriters
+to any public Shareholders in the Hong Kong Public Offering or placees in the
+International Offering; (iv) the consideration payable by the public Shareholders in
+the Hong Kong Public Offering and placees in the International Offering for each
+Offer Share subscribed for or purchased by them is the same as the final Offer Price
+as determined by the Company, in additional to brokerage of 1.0%, SFC transaction
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
+fee of 0.00565%; and (v) there is no side agreement or arrangement between the
+Company, any of the Directors, chief executive of the Company, the Controlling
+Shareholders, the substantial shareholders of the Company, the existing Shareholders
+of the Company or any of their subsidiaries or their respective close associates or
+syndicate members or any other brokers or underwriters, on one hand, and the public
+subscribers or the placee who has subscribed for the Offer Shares, on the other hand.
+• None of the Sole Sponsor, the Sole Overall Coordinator, the Joint Global
+Coordinators, the Joint Bookrunners, the Joint Lead Managers, the Underwriters, and
+their respective affiliated companies and connected clients of the lead broker or of
+any distributors (as defined in the Placing Guidelines) has taken up any Offer Shares
+for its own benefit under the Global Offering.
+• The Directors confirm that none of the placees under the International Offering was
+placed more than 10% of the issued share capital of the Company immediately after
+completion of the Capitalization Issue and the Global Offering. Accordingly, the
+Directors confirm that none of the placees will become a substantial shareholder of
+the Company after the completion of the Capitalization Issue and the Global Offering,
+and there will not be any new substantial shareholder of the Company immediately
+after completion of the Capitalization Issue and the Global Offering.
+
+
+--- page 5 ---
+– 8 –
+Over-Allotment Option
+• In connection with the Global Offering, the Company has granted to the International
+Underwriters, exercisable by the Sole Overall Coordinator (on behalf of the
+International Underwriters), the Over-allotment Option, which will be exercisable
+from the Listing Date until Friday, August 4, 2023, being the 30th day after the last
+day for the lodging of applications under the Hong Kong Public Offering, to require
+the Company to allot and issue, up to an aggregate of 18,996,000 Shares, representing
+no more than 15% of the initial number of Offer Shares available under the Global
+Offering, at the Offer Price under the International Offering to cover over-allocations
+in the International Offering, if any.
+• There has been an over-allocation of 1,887,500 Offer Shares in the International
+Offering. Such over-allocation will be covered by using Shares to be borrowed under
+the Stock Borrowing Agreement and the settlement of such over-allocation may
+be effected by (i) exercising the Over-allotment Option, which will be exercisable
+by the Sole Overall Coordinator (on behalf of the International Underwriters); (ii)
+making purchases in the secondary market at prices that do not exceed the Offer
+Price; or (iii) a combination of these means. In the event the Over-allotment Option
+is exercised, an announcement will be made on the Stock Exchange’s website at
+www.hkexnews.hk and the Company’s website at www.splegend.com. As at the
+date of this announcement, the Over-allotment Option has not been exercised.
+Lock-Up Obligations
+• The Company, the Controlling Shareholders, the Pre-IPO Investors and the
+Cornerstone Investors are subject to certain lock-up obligations as set out in the
+section headed “Lock-up Obligations” in this announcement.
+Results of Allocations
+• The level of indications of interests in the International Offering, the level of
+applications in the Hong Kong Public Offering and the basis of allocation of the
+Hong Kong Offer Shares are also made available on the Company’s website at
+www.splegend.com and the website of the Stock Exchange at www.hkexnews.hk by
+no later than 9:00 a.m. on Wednesday, July 12, 2023.
+
+
+--- page 6 ---
+– 9 –
+• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
+Offering successfully applied through the White Form eIPO service or through the
+CCASS EIPO service, including the Hong Kong identity card numbers, passport
+numbers, Hong Kong business registration numbers, certificate of incorporation
+numbers or beneficial owner identification codes of successful applicants (where
+applicable) and the number of the Hong Kong Offer Shares successfully applied for,
+will be made available at the times and dates and in the manner specified below:
+• in the announcement to be posted on the Company’s website and the website of
+Stock Exchange at www.splegend.com and www.hkexnews.hk, respectively, by
+no later than Wednesday, July 12, 2023. Please note that the list of identification
+document numbers set out in this announcement may not be a complete list
+of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants are
+disclosed. Applicants with beneficial names only but not identification document
+numbers are not disclosed due to personal privacy issue as elaborated below.
+Applicants who applied for the Hong Kong Offer Shares through their brokers
+can consult their brokers to enquire about their application results;
+• from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment) with a “search by ID” function on
+a 24 hour basis from 8:00 a.m. on Wednesday, July 12, 2023 to 12:00 midnight
+on Tuesday, July 18, 2023; and
+• from the allocation results telephone enquiry line by calling +852 2862 8555
+between 9:00 a.m. and 6:00 p.m. from Wednesday, July 12, 2023 to Friday, July
+14, 2023 and Monday, July 17, 2023.
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by
+White Form eIPO” refer to Hong Kong identity card numbers/passport numbers/
+Hong Kong business registration numbers/certificate of incorporation numbers/
+beneficial owner identification codes (if such applications are made by nominees as
+agent for the benefit of another person) whereas those displayed in the section headed
+“Results of Applications Made by Giving Electronic Application Instructions to
+HKSCC via CCASS” are provided by CCASS Participants via CCASS. Therefore, the
+identification document numbers shown in the two sections are different in nature.
+• Since applications are subject to personal information collection statements,
+beneficial owner identification codes displayed in the sections headed “Results of
+Applications Made by White Form eIPO” and “Results of Applications Made by
+Giving Electronic Application Instructions to HKSCC via CCASS” are redacted
+and not all details of applications are disclosed in this announcement.
+
+
+--- page 7 ---
+– 10 –
+Despatch/Collection of Share Certificates/e-Refund Payment Instructions/Refund
+Checks
+• Applicants who have applied for 1,000,000 or more Hong Kong Offer Shares through
+the White Form eIPO service and the application is wholly or partially successful
+may collect Share certificate(s) from the Hong Kong Share Registrar, Computershare
+Hong Kong Investor Services Limited at Shops 1712–1716, 17th Floor, Hopewell
+Centre, 183 Queen’s Road East, Wan Chai, Hong Kong, from 9:00 a.m. to 1:00 p.m.
+on Wednesday, July 12, 2023, or such other date as notified by the Company in the
+newspapers as the date of despatch/collection of Share certificates/e-Refund payment
+instructions/refund cheques.
+• Applicants being individuals who are eligible for personal collection may not
+authorize any other person to collect on their behalf. Applicants being corporations
+which are eligible for personal collection must attend through their authorized
+representatives bearing letters of authorization from their corporation stamped
+with the corporation’s chop. Both individuals and authorized representatives of
+corporations must produce evidence of identity acceptable to Computershare Hong
+Kong Investor Services Limited at the time of collection.
+• Applicants who apply for less than 1,000,000 Hong Kong Offer Shares through the
+White Form eIPO service will have their Share certificate(s) (where applicable) sent
+to the address specified in their application on or before Wednesday, July 12, 2023
+by ordinary post and at their own risk.
+• Share certificates for Hong Kong Offer Shares allotted to applicants who applied
+through the White Form eIPO service, which are either not available for personal
+collection, or which are available but are not collected in person within the time
+specified for collection, are expected to be despatched by ordinary post to those
+entitled to the addresses specified in the relevant applications at their own risk on or
+before Wednesday, July 12, 2023.
+• Wholly or partially successful applicants who applied by giving electronic
+application instructions to HKSCC via CCASS will have their Share certificate(s)
+issued in the name of HKSCC Nominees Limited and deposited directly into
+CCASS for credit to their CCASS Investor Participants stock accounts or the stock
+accounts of their designated CCASS Participants who gave electronic application
+instructions on their behalf on Wednesday, July 12, 2023 or on any other date
+determined by HKSCC or HKSCC Nominees.
+
+
+--- page 8 ---
+– 11 –
+• Applicants who applied through a designated CCASS Participant (other than a
+CCASS Investor Participant) should check the number of Hong Kong Offer Shares
+allocated to them and the amount of refund monies payable to them with that CCASS
+Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic
+application instructions to HKSCC via CCASS should check and report any
+discrepancies to HKSCC before 5:00 p.m. on Wednesday, July 12, 2023 or such other
+date as shall be determined by HKSCC or HKSCC Nominees. Applicants who applied
+as a CCASS Investor Participant by giving electronic application instructions to
+HKSCC via CCASS may also check the results of their applications and the amount
+of refund monies payable to them via the CCASS Phone System and the CCASS
+Internet System (under the procedures contained in HKSCC’s “An Operating Guide
+for Investor Participants” in effect from time to time). Immediately following the
+credit of the Hong Kong Offer Shares to the CCASS Investor Participants stock
+accounts and the credit of the refund monies to their respective designated bank
+account (if any), HKSCC will also make available to the CCASS Investor Participants
+an activity statement showing the number of the Hong Kong Offer Shares credited to
+their CCASS Investor Participant stock accounts and the amount of refund monies (if
+any) credited to their respective designated bank account.
+• For applicants who have applied for the Hong Kong Offer Shares through the White
+Form eIPO service and paid the application monies through a single bank account,
+refund monies (if any) will be despatched to their application payment bank account
+in the form of e-Refund payment instructions on Wednesday, July 12, 2023. For
+applicants who have applied for the Hong Kong Offer Shares through the White
+Form eIPO service and paid the application monies through multiple bank accounts,
+refund monies (if any) will be despatched to the addresses specified on the White
+Form eIPO application instructions in the form of refund check(s) in favour of the
+applicant (or, in the case of joint applications, the first-named applicant), by ordinary
+post and at their own risk on or before Wednesday, July 12, 2023.
+• Refund monies (if any) for applicants who applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant
+applicants’ designated bank accounts or the designated bank accounts of their broker
+or custodian on Wednesday, July 12, 2023.
+• Share certificates will only become valid evidence of title at 8:00 a.m. on Thursday,
+July 13, 2023 provided that the Global Offering has become unconditional in all
+respects at or before that time and the right of termination as described in the section
+headed “Underwriting – Underwriting Arrangements and Expenses – Hong Kong
+Public Offering – Grounds for Termination” in the Prospectus has not been exercised.
+• The Company will not issue any temporary documents of title in respect of the Hong
+Kong Offer Shares. No receipt will be issued for application monies received.
+
+
+--- page 9 ---
+– 12 –
+Public Float
+• The Directors confirm that (i) immediately following the completion of the
+Capitalization Issue and the Global Offering, no less than 25% of the total issued
+share capital of the Company will be held by the public in compliance with the
+requirements under Rule 8.08(1)(a) of the Listing Rules; (ii) the three largest public
+Shareholders of the Company do not hold more than 50% of the Shares in public
+hands at the time of Listing in compliance with Rule 8.08(3) of the Listing Rules; and
+(iii) there will be at least 300 Shareholders at the time of Listing in compliance with
+Rule 8.08(2) of the Listing Rules.
+Commencement of Dealings
+• Assuming that the Global Offering becomes unconditional in all aspects at or before
+8:00 a.m. on Thursday, July 13, 2023, dealings in the Shares on the Main Board of
+the Stock Exchange are expected to commence at 9:00 a.m. on Thursday, July 13,
+2023. The Shares will be traded in board lots of 500 Shares each. The stock code of
+the Company is 6683.
+In view of the 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 Shares.
+OFFER PRICE
+The Offer Price is HK$4.25 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
+0.00565%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$4.25 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company (after deduction of the underwriting commissions,
+and estimated expenses paid or payable by the Company in relation to the Global Offering,
+assuming the Over-allotment Option is not exercised) are estimated to be approximately
+HK$245.2 million. The Company intends to apply such net proceeds for the following
+purposes:
+• Approximately HK$58.4 million (equivalent to approximately RMB51.4 million),
+representing 23.8% of the net proceeds from the Global Offering, will be used for the
+diversification of product portfolio;
+
+
+--- page 10 ---
+– 13 –
+• Approximately HK$75.1 million (equivalent to approximately RMB66.1 million),
+representing 30.6% of the net proceeds from the Global Offering, will be used to increase
+the Company’s brand exposure and product sales through MCN, including cooperation
+with selected top KOLs and development of proprietary Livestreaming accounts;
+• Approximately HK$68.1 million (equivalent to approximately RMB60.0 million),
+representing 27.8% of the net proceeds from the Global Offering, will be used for the
+creation of unique celebrity IPs and associated IP contents, including media contents and
+large-scale concerts;
+• Approximately HK$30.2 million (equivalent to approximately RMB26.6 million),
+representing 12.3% of the net proceeds from the Global Offering, will be used for
+upgrading the Company’s IT infrastructure and increase investment in IT development;
+and
+• Approximately HK$13.4 million (equivalent to approximately RMB11.8 million),
+representing 5.5% of the net proceeds from the Global Offering, will be used for working
+capital.
+If the Over-allotment Option is exercised in full, the net proceeds the Company will receive
+from the Global Offering will increase to approximately HK$321.9 million for 18,996,000
+additional Offer Shares to be allotted and issued upon the exercise of the Over-allotment
+Option. In the event that the Over-allotment Option is exercised in full, the Company intends
+to apply the additional net proceeds to the above purposes in the proportions stated above.
+Further announcement will be made by the Company regarding, among others, any exercise of
+the Over-allotment Option and the final amount of net proceeds from the Global Offering.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds”
+in the Prospectus.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+Hong Kong Public Offering
+The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
+significantly over-subscribed. A total of 8,928 valid applications have been received pursuant
+to the Hong Kong Public Offering through the White Form eIPO service and the CCASS
+EIPO service for a total of 164,543,000 Hong Kong Offer Shares, representing approximately
+12.99 times of the total number of the 12,664,000 Hong Kong Offer Shares initially available
+for subscription under the Hong Kong Public Offering, among which:
+• 8,877 valid applications in respect of a total of 81,043,000 Hong Kong Offer Shares
+were for the Hong Kong Public Offering with an aggregate subscription amount based on
+the Offer Price of HK$4.25 per Offer Share (excluding brokerage of 1%, SFC transaction
+
+
+--- page 11 ---
+– 14 –
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee
+of 0.00565%) of HK$5 million or less, representing approximately 12.80 times of the
+6,332,000 Hong Kong Offer Shares initially comprised in Pool A of the Hong Kong
+Public Offering; and
+• 51 valid applications in respect of a total of 83,500,000 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount based on the
+Offer Price of HK$4.25 per Offer Share (excluding brokerage of 1%, SFC transaction
+levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee
+of 0.00565%) of more than HK$5 million, representing approximately 13.19 times of the
+6,332,000 Hong Kong Offer Shares initially comprised in Pool B.
+No application has been rejected due to dishonored payments. No invalid application has been
+identified and rejected. 6 multiple applications or suspected multiple applications have been
+identified and rejected. No application for more than 6,332,000 Hong Kong Offer Shares (being
+50% of the 12,664,000 Hong Kong Offer Shares initially available under the Hong Kong
+Public Offering) has been identified.
+As the over-subscription of the Hong Kong Public Offering is less than 15 times of the number
+of Offer Shares initially available for subscription under the Hong Kong Public Offering, no
+reallocation procedures as described in the section headed “Structure of the Global Offering –
+The Hong Kong Public Offering – Reallocation” in the Prospectus has been applied. The final
+number of Offer Shares under the Hong Kong Public Offering is 12,664,000 Offer Shares,
+representing 10% of the total number of Offer Shares initially available under the Global
+Offering, and being allocated to 5,277 successful applicants under the Hong Kong Public
+Offering. A total number of 3,548 applicants, representing 67.2% of the total number of 5,277
+successful applicants under the Hong Kong Public Offering, have been allotted with one board
+lot of Hong Kong Offer Shares. These applicants have been allotted 1,774,000 Offer Shares,
+representing approximately 14.0% of the 12,664,000 Offer Shares initially available under the
+Hong Kong Public Offering.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on
+the basis set out in the paragraph headed “Basis of Allocation under the Hong Kong Public
+Offering” below.
+International Offering
+The Offer Shares initially offered under the International Offering have been slightly over-
+subscribed, representing approximately 1.15 times of the total number of the 113,976,000
+Offer Shares initially available under the International Offering (before any exercise of the
+Over-allotment Option). The final number of Offer Shares under the International Offering
+is 113,976,000 Offer Shares, representing 90.0% of the total number of Offer Shares initially
+available under the Global Offering (before any exercise of the Over-allotment Option).
+
+
+--- page 12 ---
+– 15 –
+There has been an over-allocation of 1,887,500 Offer Shares in the International Offering
+and there are a total of 147 placees under the International Offering. A total of 102 placees
+have been allotted five board lots of the International Offer Shares or less, representing
+approximately 69.4% of the total number of 147 placees under the International Offering.
+These placees have been allotted 52,500 Offer Shares, representing approximately 0.05% of
+the 113,976,000 Offer Shares initially available under the International Offering (before any
+exercise of the Over-allotment Option). A total of 99 placees have been allotted one board lot
+of the Offer Shares under the International Offering, representing approximately 67.3% of the
+total number of 147 placees under the International Offering. These placees have been allotted
+49,500 Offer Shares, representing approximately 0.04% of the 113,976,000 Offer Shares
+initially available under the International Offering (before any exercise of the Over-allotment
+Option).
+To the best knowledge, information and belief of the Directors, no Offer Shares placed by or
+through the Sole Overall Coordinator, the Joint Global Coordinators, the Joint Bookrunners,
+the Joint Lead Managers or the Underwriters under the Global Offering have been placed with
+applicants and their respective ultimate beneficial owners who are core connected persons
+(as defined in the Listing Rules) of the Company or Directors of the Company, or to any
+connected clients (as set out in paragraph 5(1) of the Placing Guidelines for Equity Securities
+as set out in Appendix 6 to the Listing Rules (the “Placing Guidelines”)), or persons set out
+in paragraph 5(2) of the Placing Guidelines, whether in their own names or through nominees.
+The International Offering is in compliance with the Placing Guidelines.
+To the best knowledge of the Company and as confirmed by the Directors, (i) none of the
+Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering and placees
+in the International Offering has been financed directly or indirectly by the Company, any of
+the Directors, chief executive of the Company, the Controlling Shareholders, the substantial
+shareholders (as defined under the Listing Rules) of the Company, the existing Shareholders
+of the Company or any of their subsidiaries or their respective close associates; (ii) none of
+the public Shareholders in the Hong Kong Public Offering and placees in the International
+Offering who has subscribed for the Offer Shares is accustomed to taking instructions from the
+Company, any of the Directors, chief executive of the Company, the Controlling Shareholders,
+the substantial shareholders of the Company, the existing Shareholders of the Company or any
+of their subsidiaries or their respective close associates in relation to the acquisition, disposal,
+voting or other disposition of the Shares registered in their name or otherwise held by them;
+(iii) no rebate has been, directly or indirectly, provided by the Company, the Directors, chief
+executive of the Company, the Controlling Shareholders, the substantial shareholders of the
+Company, the existing Shareholders of the Company or any of their subsidiaries, or their
+respective close associates, or syndicate members or any brokers or underwriters to any public
+Shareholders in the Hong Kong Public Offering or placees in the International Offering;
+(iv) the consideration payable by the public Shareholders in the Hong Kong Public Offering
+and placees in the International Offering for each Offer Share subscribed for or purchased
+by them is the same as the final Offer Price as determined by the Company, in additional to
+brokerage of 1%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and
+Stock Exchange trading fee of 0.00565%; and (v) there is no side agreement or arrangement
+
+
+--- page 13 ---
+– 16 –
+between the Company, any of the Directors, chief executive of the Company, the Controlling
+Shareholders, the substantial shareholders of the Company, the existing Shareholders of the
+Company or any of their subsidiaries or their respective close associates, on one hand, and the
+public subscribers or the placee who has subscribed for the Offer Shares, on the other hand.
+None of the Sole Sponsor, the Sole Overall Coordinator, the Joint Global Coordinators, the
+Joint Bookrunners, the Joint Lead Managers, the Underwriters, and their respective affiliated
+companies and connected clients of the lead broker or of any distributors (as defined in
+the Placing Guidelines) has taken up any Offer Shares for its own benefit under the Global
+Offering.
+The Directors confirm that none of the placees under the International Offering was placed
+more than 10% of the issued share capital of the Company immediately after completion of
+the Capitalization Issue and the Global Offering. Accordingly, the Directors confirm that none
+of the placees will become a substantial shareholder of the Company after the completion of
+the Global Offering, and there will not be any new substantial shareholder of the Company
+immediately after completion of the Capitalization Issue and the Global Offering.
+Cornerstone Investors
+Based on the Offer Price of HK$4.25 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
+fee of 0.00565%), the number of Offer Shares subscribed for by the Cornerstone Investors is
+determined as set out below:
+Cornerstone Investor
+Investment
+amount
+Number of
+Offer Shares (1)
+Percentage
+of the
+Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option) (2)
+Percentage
+of the
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised) (2)(3)
+Percentage of
+Shares in issue
+immediately upon
+completion
+of the
+Global Offering
+(assuming
+no exercise
+of the
+Over-allotment
+Option) (2)
+Percentage of
+Shares in issue
+immediately upon
+completion of
+the Global
+Offering
+(assuming the
+Over-allotment
+Option is
+exercised) (2)(3)
+Blink Field US$15 million 20,570,000 (4) 16.2% 16.0% 2.6% 2.6%
+NetDragon (5) US$3 million 5,491,500 4.3% 4.3% 0.7% 0.7%
+Notes:
+(1) Subject to rounuding down to the nearest whole board lot of 500 Shares and calculated based on the
+exchange rate of US$1.00:HK$7.78 as set out in the section headed “Information about this prospectus and
+the Global Offering” in the Prospectus.
+(2) Without taking into account any Shares which may be issued pursuant to the exercise of the Options under
+the Share Option Schemes.
+(3) Assuming the Over-allotment Option is partially exercised up to 1,887,500 Offer Shares.
+
+
+--- page 14 ---
+– 17 –
+(4) Please refer to the section headed “Cornerstone Investors – The Cornerstone Placing” in the Prospectus
+regarding the adjustments to the number of Offer Shares allocated to Blink Field.
+(5) NetDragon is a wholly-owned subsidiary of NetDragon Websoft Holdings Limited, a company listed on
+the Stock Exchange (stock code: 777).
+To the best knowledge of the Company, (i) each of the Cornerstone Investors is an
+Independent Third Party and is not a connected person of the Company; (ii) each of the
+Cornerstone Investors is not accustomed to taking instructions in relation to, amongst others,
+the acquisition, disposal, voting or other disposition of the Offer Shares from the Company
+or any of its subsidiaries, Directors, the chief executives of the Company, Controlling
+Shareholders, substantial shareholders of the Company or existing Shareholders, or their
+respective close associates; and (iii) none of the subscription of the Offer Shares by the
+Cornerstone Investors is financed by the Company or its subsidiaries, Directors, the chief
+executives of the Company, Controlling Shareholders, substantial shareholders of the
+Company or existing Shareholders, or their respective close associates.
+To the best knowledge of the Company and as confirmed by each Cornerstone Investor, save as
+disclosed above, none of the Cornerstone Investors nor their respective shareholders are listed
+on any stock exchanges. Each of the Cornerstone Investors has confirmed that all necessary
+approvals have been obtained with respect to the Cornerstone Placing and that no specific
+approval from any stock exchange (if relevant) or its shareholders is required for the relevant
+cornerstone investment.
+The Cornerstone Placing will form part of the International Offering, and the Cornerstone
+Investors will not acquire any Offer Shares under the Global Offering (other than pursuant
+to the Cornerstone Investment Agreements). The Offer Shares to be subscribed by the
+Cornerstone Investors will rank pari passu in all respect with the fully paid Shares in issue and
+will be counted towards the public float of the Company under Rule 8.08 of the Listing Rules.
+Immediately following the completion of the Global Offering, the Cornerstone Investors will
+not become a substantial shareholder of the Company, nor will the Cornerstone Investors have
+any Board representation in the Company. Other than a guaranteed allocation of the relevant
+Offer Shares at the Offer Price, the Cornerstone Investors do not have any preferential rights
+in the Cornerstone Investment Agreements as compared with other public Shareholders, and
+none of the Cornerstone Investors, or any of their affiliates, directors, officers, employees,
+agents or representatives, has accepted or entered into any agreement or arrangement to accept
+any direct or indirect benefits by side letter or otherwise, from the Company, any member
+of the Group, or any of their respective affiliates, directors, officers, employees, agents or
+representatives in the Global Offering or otherwise has engaged in any conduct or activity
+inconsistent with, or in contravention of, Guidance Letter HKEX-GL51-13. As confirmed by
+each of the Cornerstone Investors, their respective subscription under the Cornerstone Placing
+would be financed by its internal resources.
+There will not be delayed delivery or deferred settlement of Offer Shares to be subscribed by
+the Cornerstone Investors pursuant to the Cornerstone Investment Agreements and payment
+for the Offer Shares to be subscribed by the Cornerstone Investors will be settled on or before
+dealings in the Offer Shares commence on the Stock Exchange.
+
+
+--- page 15 ---
+– 18 –
+Each of the Cornerstone Investors has agreed and undertakes to the Company, the Sole
+Overall Coordinator and the Sole Sponsor that without the prior written consent of each of the
+Company, the Sole Overall Coordinator and the Sole Sponsor, it will not, and will cause its
+affiliates not to, whether directly or indirectly, at any time during the period of twelve months
+following the Listing Date, dispose of, in any way, any of the Offer Shares it has subscribed
+pursuant to the Cornerstone Investment Agreements or any interest in any company or
+entity holding the Offer Shares, save for certain limited circumstances as provided under the
+Cornerstone Investment Agreements, such as transfers to any of its wholly-owned subsidiaries
+who will be bound by the same obligations of the Cornerstone Investors, including the Lock-
+up Period Restriction. Please refer to the section headed “Cornerstone Investors” in the
+Prospectus for further details relating to the Cornerstone Investors.
+Over-allotment Option
+In connection with the Global Offering, the Company has granted to the International
+Underwriters, exercisable by the Sole Overall Coordinator on behalf of the International
+Underwriters, the Over-allotment Option, which will be exercisable from the Listing Date until
+Friday, August 4, 2023, being the 30th day after the last day for the lodging of applications
+under the Hong Kong Public Offering, to require the Company to allot and issue, up to an
+aggregate of 18,996,000 Shares, representing no more than 15% of the initial number of Offer
+Shares available under the Global Offering, at the Offer Price, to cover over-allocations in the
+International Offering, if any.
+There has been an over-allocation of 1,887,500 Offer Shares in the International Offering.
+Such over-allocation will be covered by using Shares to be borrowed under the Stock
+Borrowing Agreement and the settlement of such over-allocation may be effected by
+(i) exercising the Over-allotment Option, which will be exercisable by the Sole Overall
+Coordinator (on behalf of the International Underwriters); (ii) making purchases in the
+secondary market at prices that do not exceed the Offer Price; or (iii) a combination of
+these means. In the event the Over-allotment Option is exercised, an announcement will be
+made on the Stock Exchange’s website at www.hkexnews.hk and the Company’s website at
+www.splegend.com. As at the date of this announcement, the Over-allotment Option has not
+been exercised.
+
+
+--- page 16 ---
+– 19 –
+LOCK-UP OBLIGATIONS
+The Company, the Controlling Shareholders, the Pre-IPO Investors and the Cornerstone
+Investors have provided certain lock-up obligations (the “Lock-up Obligations”) in respect of
+the Shares. The major terms of the Lock-up Obligations are set out as follows.
+Name
+Number of Shares
+subject to the
+Lock-up
+Obligations upon
+Listing
+Percentage of
+shareholding
+in the Company
+subject to the
+Lock-up
+Obligations
+upon Listing (1)
+Last day subject to the
+Lock-up Obligations
+The Company
+(subject to lock-up obligations pursuant
+to the Listing Rules and the Hong Kong
+Underwriting Agreement)
+N/A N/A January 12, 2024 (2)
+(First Six-Month
+Period)
+July 12, 2024
+(Second Six-Month
+Period)
+Controlling Shareholders
+(subject to lock-up obligations pursuant
+to the Listing Rules and the Hong Kong
+Underwriting Agreement) (3)
+465,038,126 58.1% January 12, 2024
+(First Six-Month
+Period)
+July 12, 2024
+(Second Six-Month
+Period)
+Pre-IPO Investors
+(subject to lock-up obligations pursuant
+to their respective voluntary lock-up
+undertakings)
+Mr. Lai 99,651,027 12.5% July 12, 2024
+Mr. Ho (4) 45,513,546 5.7% July 12, 2024
+Dr. Qian 9,965,103 1.2% July 12, 2024
+Ms. Zhang 13,206,742 1.7% July 12, 2024
+Bradbury 39,985,456 5.0% January 12, 2024
+
+
+--- page 17 ---
+– 20 –
+Name
+Number of Shares
+subject to the
+Lock-up
+Obligations upon
+Listing
+Percentage of
+shareholding
+in the Company
+subject to the
+Lock-up
+Obligations
+upon Listing (1)
+Last day subject to the
+Lock-up Obligations
+Cornerstone Investors
+(subject to lock-up obligations pursuant to
+the Cornerstone Investment Agreements)
+Blink Field 20,570,000 2.6% July 12, 2024
+NetDragon 5,491,500 0.7% July 12, 2024
+Notes:
+(1) Assuming the Over-allotment Option is not exercised and without taking into account any Shares which
+may be issued pursuant to the Share Option Schemes.
+(2) The Company may not issue Shares on or before the indicated date except pursuant to the Capitalization
+Issue, the Global Offering (including pursuant to the exercise of the Over-allotment Option), the exercise
+of any Option granted or may be granted under the Share Option Schemes, or otherwise permitted by the
+Listing Rules.
+(3) For details of the lock-up obligations, please refer to the sections headed “Underwriting – Hong Kong
+Public Offering – Undertakings to the Stock Exchange pursuant to the Listing Rules by our Controlling
+Shareholders” and “Underwriting – Hong Kong Public Offering – Undertakings to the Hong Kong
+Underwriters – Undertakings by our Controlling Shareholders” in the Prospectus.
+(4) Each of Lake Ranch and Kai Le, being a company wholly owned by Mr. Ho, agreed not to dispose any of
+the Shares for a period of twelve months commencing on the date of Listing.
+
+
+--- page 18 ---
+– 21 –
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure of
+the Global Offering – Conditions of the Global Offering” in the Prospectus, 8,928 valid
+applications made by the public through the White Form eIPO service and the CCASS EIPO
+service 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 3,701 1,111 out of 3,701 to receive 500 Shares 30.02%
+1,000 904 452 out of 904 to receive 500 Shares 25.00%
+1,500 1,683 1,161 out of 1,683 to receive 500 Shares 22.99%
+2,000 216 164 out of 216 to receive 500 Shares 18.98%
+2,500 241 217 out of 241 to receive 500 Shares 18.01%
+3,000 148 137 out of 148 to receive 500 Shares 15.43%
+3,500 49 500 Shares 14.29%
+4,000 46 500 Shares plus 6 out of 46 to receive additional 500 Shares 14.13%
+4,500 44 500 Shares plus 11 out of 44 to receive additional 500 Shares 13.89%
+5,000 235 500 Shares plus 82 out of 235 to receive additional 500 Shares 13.49%
+6,000 49 500 Shares plus 28 out of 49 to receive additional 500 Shares 13.10%
+7,000 54 500 Shares plus 44 out of 54 to receive additional 500 Shares 12.96%
+8,000 49 1,000 Shares 12.50%
+9,000 37 1,000 Shares plus 6 out of 37 to receive additional 500 Shares 12.01%
+10,000 729 1,000 Shares plus 219 out of 729 to receive additional 500 Shares 11.50%
+15,000 75 1,500 Shares 10.00%
+20,000 90 1,500 Shares plus 72 out of 90 to receive additional 500 Shares 9.50%
+25,000 76 2,000 Shares 8.00%
+30,000 24 2,000 Shares plus 12 out of 24 to receive additional 500 Shares 7.50%
+35,000 19 2,500 Shares 7.14%
+40,000 23 2,500 Shares plus 14 out of 23 to receive additional 500 Shares 7.01%
+45,000 162 3,000 Shares 6.67%
+50,000 37 3,000 Shares plus 11 out of 37 to receive additional 500 Shares 6.30%
+60,000 13 3,500 Shares 5.83%
+70,000 7 4,000 Shares 5.71%
+80,000 13 4,500 Shares 5.63%
+90,000 11 5,000 Shares 5.56%
+100,000 46 5,500 Shares 5.50%
+200,000 35 10,000 Shares 5.00%
+300,000 23 14,000 Shares 4.67%
+400,000 5 18,500 Shares 4.63%
+500,000 9 23,000 Shares 4.60%
+
+
+--- page 19 ---
+– 22 –
+No. of shares
+applied for
+No. of valid
+applications Basis of allotment/ballot
+Approximate
+percentage
+allotted of
+the total no. of
+shares applied for
+600,000 5 27,000 Shares 4.50%
+700,000 6 31,000 Shares 4.43%
+800,000 4 35,000 Shares 4.38%
+900,000 1 39,000 Shares 4.33%
+1,000,000 8 43,000 Shares 4.30%
+Total 8,877 Total number of Pool A successful applicants: 5,226
+Pool B
+1,500,000 40 114,000 Shares 7.60%
+2,000,000 9 151,000 Shares 7.55%
+2,500,000 1 188,000 Shares 7.52%
+3,000,000 1 225,000 Shares 7.50%
+Total 51 Total number of Pool B successful applicants: 51
+The final number of Offer Shares comprising the Hong Kong Public Offering is 12,664,000
+Offer Shares, representing 10% of the total number of the Offer Shares initially available
+under the Global Offering (before any exercise of the Over-allotment Option).
+The final number of Offer Shares available in the International Offering is 113,976,000 Offer
+Shares, representing 90% of the Offer Shares in the Global Offering (before any exercise of
+the Over-allotment Option).
+RESULTS OF ALLOCATIONS
+The Offer Price, results of allocations of the Hong Kong Offer Shares under the Hong Kong
+Public Offering successfully applied for through the White Form eIPO service or the CCASS
+EIPO service, including the Hong Kong identity card numbers, passport numbers, Hong
+Kong business registration numbers, certificate of incorporation numbers or beneficial owner
+identification codes of successful applicants (where supplied) and the number of the Hong
+Kong Offer Shares successfully applied for, will be made available at the times and dates and
+in the manner specified below:
+• in the announcement to be posted on our website and the website of Stock Exchange at
+www.splegend.com and www.hkexnews.hk, respectively, by no later than Wednesday,
+July 12, 2023. Please note that the list of identification document numbers set out in this
+announcement may not be a complete list of successful applicants since only successful
+applicants whose identification document numbers are provided to HKSCC by CCASS
+
+
+--- page 20 ---
+– 23 –
+participants are disclosed. Applicants with beneficial names only but not identification
+document numbers are not disclosed due to personal privacy issue as elaborated below.
+Applicants who applied for the Hong Kong Offer Shares through their brokers can
+consult their brokers to enquire about their application results;
+• from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment) with a “search by ID” function on a 24
+hour basis from 8:00 a.m. on Wednesday, July 12, 2023 to 12:00 midnight on Tuesday,
+July 18, 2023; and
+• from the allocation results telephone enquiry line by calling +852 2862 8555 between
+9:00 a.m. and 6:00 p.m. from Wednesday, July 12, 2023 to Friday, July 14, 2023 and
+Monday, July 17, 2023.
+This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by White
+Form eIPO” refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner
+identification codes (if such applications are made by nominees as agent for the benefit of
+another person) whereas those displayed in the section headed “Results of Applications Made
+by Giving Electronic Application Instructions to HKSCC via CCASS” are provided by
+CCASS Participants via CCASS. Therefore, the identification document numbers shown in the
+two sections are different in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by
+White Form eIPO” and “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS” are redacted and not all details of applications are
+disclosed in this announcement.
+
+
+--- page 21 ---
+– 24 –
+SHAREHOLDING CONCENTRATION ANALYSIS
+Set out below is a summary of the allotments results under the Global Offering:
+• the number of Offer Shares subscribed for by the top 1, 5, 10, 20 and 25 placees under
+the International Offering, their subscription percentages in the International Offering,
+and their shareholding percentages upon Listing are as follows:
+Placee
+Number of
+shares
+subscribed for
+Number of
+Shares held
+upon Listing
+Number of
+Shares
+subscribed for
+as percentage
+of the total
+number of the
+International
+Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number of
+Shares
+subscribed for
+as percentage
+of the total
+number of the
+International
+Offer Shares
+(assuming the
+Over-allotment
+Option
+is exercised) (1)
+Number of
+Shares
+subscribed for
+as percentage
+of the total
+number of the
+Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number of
+Shares
+subscribed for
+as percentage
+of the total
+number of the
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised) (1)
+Number of
+Shares held
+upon Listing as
+percentage of
+the total issued
+share capital
+upon Listing
+(assuming
+no exercise of the
+Over-allotment
+Option)
+Number of
+Shares held
+upon Listing as
+percentage of
+the total issued
+share capital
+upon Listing
+(assuming the
+Over-allotment
+Option is
+exercised) (1)
+Top 1 20,570,000 20,570,000 18.0% 17.8% 16.2% 16.0% 2.6% 2.6%
+Top 5 44,704,500 44,704,500 39.2% 38.6% 35.3% 34.8% 5.6% 5.6%
+Top 10 67,251,000 67,251,000 59.0% 58.0% 53.1% 52.3% 8.4% 8.4%
+Top 20 94,798,500 94,798,500 83.2% 81.8% 74.9% 73.8% 11.8% 11.8%
+Top 25 104,538,500 104,538,500 91.7% 90.2% 82.5% 81.3% 13.1% 13.0%
+• Top 1, 5, 10, 20 and 25 Shareholders upon Listing, their subscription percentages in the
+Global Offering, and their shareholding percentages upon Listing are as follows:
+Shareholders
+Number of
+shares
+subscribed for
+Number of
+Shares held
+upon Listing
+Number of
+Shares
+subscribed for
+as percentage
+of the total
+number of the
+International
+Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number of
+Shares
+subscribed for
+as percentage
+of the total
+number of the
+International
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised) (1)
+Number of
+Shares
+subscribed for
+as percentage
+of the total
+number of the
+Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number of
+Shares
+subscribed for
+as percentage
+of the total
+number of the
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised) (1)
+Number of
+Shares held
+upon Listing as
+percentage of
+the total issued
+share capital
+upon Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number of
+Shares held
+upon Listing as
+percentage of
+the total issued
+share capital
+upon Listing
+(assuming the
+Over-allotment
+Option is
+exercised) (1)
+Top 1 – 465,038,126 0.0% 0.0% 0.0% 0.0% 58.1% 58.0%
+Top 5 – 673,360,000 0.0% 0.0% 0.0% 0.0% 84.2% 84.0%
+Top 10 44,704,500 718,064,500 39.2% 38.6% 35.3% 34.8% 89.8% 89.6%
+Top 20 82,871,000 756,231,000 72.7% 71.5% 65.4% 64.5% 94.5% 94.3%
+Top 25 94,798,500 768,158,500 83.2% 81.8% 74.9% 73.8% 96.0% 95.8%
+Note:
+(1) Assuming the Over-allotment Option is partially exercised up to 1,887,500 Offer Shares.
+In view of the 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 Shares.
diff --git a/data/extracted_text/06990/allotment_results_summary_2023-07-10_2023071000010.txt b/data/extracted_text/06990/allotment_results_summary_2023-07-10_2023071000010.txt
new file mode 100644
index 0000000..703b11b
--- /dev/null
+++ b/data/extracted_text/06990/allotment_results_summary_2023-07-10_2023071000010.txt
@@ -0,0 +1,1260 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF FINAL OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Net Proceeds from the Global Offering
+• Based on the final Offer Price of HK$60.60 per Offer Share, the net proceeds from the
+Global Offering to be received by the Company, after deduction of the underwriting fees
+and commissions and estimated expenses payable by the Company in connection with the
+Global Offering, are estimated to be approximately HK$1,258.9 million (assuming the
+Over–allotment Option is not exercised). The estimated total listing expenses (assuming
+that the Over-allotment Option is not exercised) are approximately HK$101.4 million,
+or 7.5% of the gross proceeds of the Global Offering, comprising HK$54.5 million
+underwriting fees, HK$35.3 million fees and expenses of legal advisors and Reporting
+Accountants and HK$11.6 million other fees and expenses. The Company intends to use
+the net proceeds from the Global Offering in the manner as set out in the paragraph headed
+“Net Proceeds from the Global Offering ” in this announcement.
+• If the Over-allotment Option is exercised in full, the Company will receive additional net
+proceeds of approximately HK$195.9 million for 3,366,900 additional Offer Shares to be
+issued and allotted upon the exercise of the Over-allotment Option, which will be allocated
+on a pro rata basis according to the use of proceeds as set out in the paragraph headed “Net
+Proceeds from the Global Offering ” in this announcement.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been slightly over-subscribed. A total of 2,846 valid applications have been received
+pursuant to the Hong Kong Public Offering through the White Form eIPO service and
+giving electronic application instructions to HKSCC for a total of 2,847,400 Hong Kong
+Offer Shares, representing approximately 1.27 times of the total number of 2,244,700 H
+Shares initially available for subscription under the Hong Kong Public Offering.
+• As the over-subscription in the Hong Kong Public Offering is less than 15 times, no
+reallocation of Offer Shares has been effected from the International Offering to the Hong
+Kong Public Offering.
+• The final number of Offer Shares under the Hong Kong Public Offering is 2,244,700
+Offer Shares, representing approximately 10% of the total number of Offer Shares initially
+available under the Global Offering (before any exercise of the Over-allotment Option),
+and being allocated to 2,385 successful applicants under the Hong Kong Public Offering,
+among which 1,495 applicants have been allotted one board lot of Offer Shares totalling
+149,500 H Shares.
+
+
+--- page 2 ---
+4
+International Offering
+• The Offer Shares initially offered under the International Offering have been moderately
+over-subscribed, representing approximately 3.4 times of the total number of Offer
+Shares initially available under the International Offering. The final number of Offer
+Shares allocated to the placees under the International Offering is 20,201,400 H Shares,
+representing approximately 90.0% of the total number of Offer Shares initially available
+under the Global Offering (before any exercise of the Over-allotment Option). There has
+been an over-allocation of 3,366,900 Offer Shares and there are a total of 126 placees
+under the International Offering, among which 81 placees have been allotted five or fewer
+board lots of Offer Shares totalling 10,000 H Shares and 62 placees have been allotted one
+board lot of Offer Shares totalling 6,200 H Shares.
+Cornerstone Investors
+• Based on the final Offer Price of HK$60.60 per Offer Share (exclusive of brokerage of
+1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and
+AFRC transaction levy of 0.00015%), pursuant to the relevant cornerstone investment
+agreements, the Company ’s Cornerstone Investors have subscribed for a total of 8,677,000
+H Shares, representing in aggregate (a) approximately 38.7% of the Offer Shares pursuant
+to the Global Offering (assuming the Over-allotment Option is not exercised), (b)
+approximately 14.3% of the H Shares in issue upon completion of the Global Offering
+(assuming the Over-allotment Option is not exercised) and (c) 4.0% of our total issued
+share capital upon completion of the Global Offering (assuming the Over-allotment
+Option is not exercised). Please refer to the section headed “Cornerstone Investors – The
+Cornerstone Placing ” in the Prospectus for further details of the Cornerstone Investors.
+• We have applied to the Stock Exchange for, and the Stock Exchange has granted us, a
+waiver and consent under Rules 9.09(b) and 10.04 of the Listing Rules and Paragraph
+5(2) of the Placing Guidelines under Appendix 6 of the Listing Rules (the “Placing
+Guidelines ”) to allow Kelun International, a wholly-owned subsidiary of Kelun
+Pharmaceutical, our Controlling Shareholder, to subscribe for H Shares in the Global
+Offering as a Cornerstone Investor.
+• Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further
+details of the Cornerstone Investors.
+Placing of Offer Shares to an Existing Shareholder and Close Associates of Certain Existing
+Shareholders under Paragraph 5(2) of the Placing Guidelines
+• Under the International Offering, a total of 3,782,700 Offer Shares were allocated to
+Kelun International, a Cornerstone Investor and a wholly-owned subsidiary of Kelun
+Pharmaceutical, our Controlling Shareholder, representing (i) 16.9% of the Offer Shares
+under the Global Offering; and (ii) 1.8% of the total issued share capital of the Company
+immediately upon completion of the Global Offering (assuming the Over-allotment Option
+is not exercised). Immediately upon completion of the Global Offering (assuming the Over-
+allotment Option is not exercised), Kelun Pharmaceutical will in aggregate hold 69.2% of
+the total voting rights of the Company.
+• Under the International Offering, a total of 480,000 Offer Shares were allocated to LAV,
+close associates of two existing Shareholders (namely LAV Kecheng and Suzhou Likang),
+representing (i) 2.14% of the Offer Shares under the Global Offering; and (ii) 0.22%
+of the total issued share capital of the Company immediately upon completion of the
+Global Offering (assuming the Over-allotment Option is not exercised). Immediately upon
+completion of the Global Offering (assuming the Over-allotment Option is not exercised),
+LAV, LAV Kecheng and Suzhou Likang will in aggregate hold 0.76% of the total issued
+share capital of the Company.
+
+
+--- page 3 ---
+5
+• Under the International Offering, a total of 480,000 Offer Shares were allocated to Gygnus
+Real, an existing Shareholder, representing (i) 2.14% of the Offer Shares under the Global
+Offering; and (ii) 0.22% of the total issued share capital of the Company immediately upon
+completion of the Global Offering (assuming the Over-allotment Option is not exercised).
+Immediately upon completion of the Global Offering (assuming the Over-allotment Option
+is not exercised), Gygnus Real will in aggregate hold 0.53% of the total issued share
+capital of the Company.
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted,
+a waiver from strict compliance with Rule 10.04 of the Listing Rules and its consent under
+paragraph 5(2) of the Placing Guidelines to permit the Company to allocate such Offer
+Shares under the International Offering to LAV and Gygnus Real.
+Connect Client Placee with the Consent under Paragraph 5(1) of the Placing Guidelines
+• Under the International Offering, a total of 1,690,300 Offer Shares, representing
+approximately 7.53% of the Offer Shares initially available under the Global Offering,
+were placed to a connected client of an Overall Coordinator set out below within the
+meaning of the Placing Guidelines. The Connect Client will hold the Offer Shares on a
+non-discretionary basis. Details are set out below:
+Placee
+Overall
+Coordinator
+Relationship with the
+Overall Coordinator
+Number of
+Offer Shares
+placed
+Approximate
+percentage
+of the Offer
+Shares
+initially
+available
+under
+the Global
+Offering (1)(2)
+Approximate
+percentage of
+the total
+issued
+share capital
+immediately
+following the
+completion
+of the Global
+Offering (1)(2)
+CSI Capital Management Limited
+ ( “CSI”or the
+ “Connected Client ”)
+CLSA Limited CSI is a member of
+ the same group of
+ companies as
+ CLSA Limited
+1,690,300 7.53% 0.78%
+Notes:
+(1) Assuming the Over-allotment Option is not exercised.
+(2) The percentage figures are subject to rounding adjustments.
+
+
+--- page 4 ---
+6
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted
+to the Company, its consent under paragraph 5(1) of the Placing Guidelines to permit the
+Company to allocate such Offer Shares in the International Offering to CSI. The Offer
+Shares placed to CSI are held by CSI on behalf of independent third parties and are in
+compliance with all the conditions under the consent granted by the Stock Exchange.
+Confirmation of Cornerstone Investors, Public Shareholders in the Hong Kong Public
+Offering and Placees in the International Offering
+• To the best knowledge of the Company and save for the fact that one Cornerstone Investor,
+namely Kelun International as well as four placees, namely LAV STAR Limited, LAV
+STAR Opportunities Limited, LAV Public Equity Master Fund and Gygnus Real are
+existing Shareholders and/or close associates of the existing Shareholders of the Company,
+(i) none of the Offer Shares subscribed for by public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering has been financed directly or indirectly
+by the Company, the Directors, Supervisors, chief executive, substantial Shareholders,
+existing Shareholders or any of their subsidiaries or their respective close associates, and
+(ii) none of the public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering who has subscribed for the Offer Shares is accustomed to taking
+instructions from the Company, the Directors, Supervisors, chief executive, substantial
+Shareholders, existing Shareholders or any of their subsidiaries or their respective close
+associates in relation to the acquisition, disposal, voting or other disposition of the H
+Shares registered in their name or otherwise held by them.
+• Save as disclosed in the sections headed “International Offering – Cornerstone Investors ”,
+“International Offering – Connected Client Placee with the Consent under Paragraph 5(1)
+of Placing Guidelines ” and “International Offering – Placing of Offer Shares to an Existing
+Shareholder and Close Associates of Certain Existing Shareholders under Paragraph 5(2)
+of Placing Guidelines ” of this announcement, to the best knowledge, information and belief
+of the Directors, no Offer Shares placed by or through the Overall Coordinators, the Joint
+Global Coordinators, the Joint Bookrunners or the Underwriters under the Global Offering
+have been placed with applicants who are core connected persons (as defined in the Listing
+Rules) or Directors of the Company, or to any connected clients (as set out in paragraph
+5(1) of the Placing Guidelines), or persons set out in paragraph 5(2) of the Placing
+Guidelines, whether in their own names or through nominees.
+• The Directors confirm that (a) no placee will, individually, be placed more than 10% of
+the enlarged issued share capital of the Company immediately after the Global Offering;
+(b) there will not be any new substantial shareholder (as defined in the Listing Rules) of
+the Company immediately after the Global Offering; (c) the number of H Shares in public
+hands will satisfy the minimum percentage prescribed in the conditions imposed in the
+waiver granted by the Stock Exchange from strict compliance with Rule 8.08(1)(b) of the
+Listing Rules; (d) the three largest public shareholders of the Company do not hold more
+than 50% of the H Shares in public hands at the time of Listing in compliance with Rules
+8.08(3) and 8.24 of the Listing Rules; and (e) there will be at least 300 Shareholders at the
+time of Listing in compliance with Rule 8.08(2) of the Listing Rules.
+
+
+--- page 5 ---
+7
+Over-allotment Option
+In connection with the Global Offering, we have granted the Over-allotment Option to the
+International Underwriters, exercisable by the Overall Coordinators (for themselves and
+on behalf of the International Underwriters), at any time from the date of the International
+Underwriting Agreement to Thursday, August 3, 2023, being the 30th day after the last day for
+lodging applications under the Hong Kong Public Offering, to require us to allot and issue up
+to an aggregate of 3,366,900 additional Offer Shares, representing not more than 15% of the
+total number of Offer Shares initially available under the Global Offering, at the Offer Price to
+cover the over-allocations in the International Offering. There has been an over–allocation of
+3,366,900 Offer Shares in the International Offering. Such over-allocation may be covered by
+exercising the Over-allotment Option in full or in part or by making purchases in the secondary
+market or a combination of these means. In the event the Over-allotment Option is exercised,
+an announcement will be made on the Stock Exchange ’s website at www.hkexnews.hk and the
+Company ’s website at http://kelun-biotech.com . As of the date of this announcement, the Over-
+allotment Option has not been exercised.
+Lock-up Undertakings
+The Company, all existing Shareholders and the Cornerstone Investors of the Company
+are subject to certain lock-up undertakings as set out in the paragraph headed “Lock-up
+Undertakings ” in this announcement.
+Results of Allocations
+The Offer Price, the level of indications of interest in the International Offering, the results of
+allocations and the Hong Kong identity card/passport/Hong Kong business registration numbers
+of successful applicants under the Hong Kong Public Offering will be available at the times and
+date and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at http://kelun-biotech.com
+and the Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on
+Monday, July 10, 2023. Please note that the list of identification document numbers in this
+announcement may not be a complete list of successful applicants since only successful
+applicants whose identification document numbers are provided to HKSCC by CCASS
+Participants are disclosed. Applicants with beneficial names only but not identification
+document numbers are not disclosed due to personal privacy issue as elaborated below.
+Applicants who applied for the Offer Shares through their brokers can consult their brokers
+to enquire about their application result;
+• from the designated results of allocations website at www.iporesults.com.hk (alternatively:
+English https://www.eipo.com.hk/en/Allotment ; Chinese https://www.eipo.com.hk/
+zh-hk/Allotment ) with a “search by ID ” function on a 24 hour basis from 8:00 a.m. on
+Monday, July 10, 2023 to 12:00 midnight on Sunday, July 16, 2023; and
+• from the allocation results telephone enquiry line by calling +852 2862 8555 between 9:00
+a.m. and 6:00 p.m. on Monday, July 10, 2023, Tuesday, July 11, 2023, Wednesday, July
+12, 2023, and Thursday, July 13, 2023.
+
+
+--- page 6 ---
+8
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ”
+refer to Hong Kong identity card numbers/passport numbers/Hong Kong business registration
+numbers/certificate of incorporation numbers/beneficial owner identification codes (if such
+applications are made by nominees as agent for the benefit of another person) whereas
+those displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” are provided by CCASS Participants via
+CCASS. Therefore, the identification document numbers shown in the two sections are different
+in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by White
+Form eIPO ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+Despatch/Collection of H Share Certificates/e-Refund Payment Instructions/Refund Checks
+• Applicants who applied for 1,000,000 Hong Kong Offer Shares or more through the White
+Form eIPO service and who have been wholly successfully or partially successfully
+allocated Hong Kong Offer Shares and are eligible to collect H Share certificates in person
+may collect H Share certificates from the H Share Registrar, Computershare Hong Kong
+Investor Services Limited, at Shops 1712-1716, 17/F Floor, Hopewell Centre, 183 Queen ’s
+Road East, Wanchai, Hong Kong from 9:00 a.m. to 1:00 p.m. on Monday, July 10, 2023,
+or such other date or place as notified by the Company in the newspapers as the date of
+despatch/collection of H Share certificates/e-Refund payment instructions/refund cheques.
+• H Share certificates for the Hong Kong Offer Shares allotted to applicants who applied
+for less than 1,000,000 Hong Kong Offer Shares through the White Form eIPO service
+are expected to be despatched to those entitled to the address specified in the relevant
+application instructions through the White Form eIPO service by ordinary post at their
+own risk on or before Monday, July 10, 2023.
+• H Share certificates for the Hong Kong Offer Shares allocated to applicants who applied
+through the White Form eIPO service which are either not eligible for personal collection
+or which are eligible but are not collected in person by 1:00 p.m. on Monday, July 10,
+2023, are expected to be despatched by ordinary post to those entitled to them at their own
+risk on or before Monday, July 10, 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their H Share certificates issued in the
+name of HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participants who gave electronic application instructions on their behalf on Monday, July
+10, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them with that CCASS Participant.
+
+
+--- page 7 ---
+9
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
+before 5:00 p.m. on Monday, July 10, 2023 or such other date as shall be determined by
+HKSCC or HKSCC Nominees. Applicants who applied as a CCASS Investor Participant
+by giving electronic application instructions to HKSCC via CCASS may also check
+the results of their applications and the amount of refund monies payable to them via the
+CCASS Phone System and the CCASS Internet System (under the procedures contained
+in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time to time)
+immediately after the crediting of the Hong Kong Offer Shares to the CCASS Investor
+Participants stock accounts and the crediting of the refund monies to the CCASS Investor
+Participants bank accounts. HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the number of Hong Kong Offer Shares credited
+to their stock accounts and the refund amount credited to their respective designated bank
+accounts (if any).
+• Applicants who applied through the White Form eIPO service and paid the application
+monies from a single bank account will have refund monies (if any) despatched to their
+application payment accounts in the form of e-Refund payment instructions on Monday,
+July 10, 2023. Applicants who applied through the White Form eIPO service and paid
+the application monies from multiple bank accounts will have refund monies (if any)
+despatched to the addresses specified on their White Form eIPO applications in the form
+of refund check(s) in favour of the applicant (or, in the case of joint applications, the first-
+named applicant) by ordinary post at their own risk on or before Monday, July 10, 2023.
+• Refund monies for applicants who have applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their brokers or custodians on
+Monday, July 10, 2023.
+• H Share certificates will only become valid certificates of title at 8:00 a.m. on the Listing
+Date which is expected to be Tuesday, July 11, 2023, provided that the Global Offering
+has become unconditional in all respects at or before that time and the right of termination
+described in the section headed “Underwriting – Underwriting Arrangements and Expenses
+– Hong Kong Public Offering – Hong Kong Underwriting Agreement – Grounds for
+Termination ” in the Prospectus has not been exercised.
+• The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+Public Float
+Immediately following completion of the Global Offering and before the exercise of the Over–
+allotment Option, (i) the number of H Shares in public hands will be 45,057,571 H Shares,
+representing approximately 20.88% of the total issued share capital of the Company which
+satisfies the minimum percentage prescribed in the conditions imposed in the waiver granted by
+the Stock Exchange from strict compliance with Rule 8.08(1) of the Listing Rules, and (ii) the
+Company will comply with Rule 18A.07 of the Listing Rules that a portion of the total number
+of the Company ’s issued shares with a market capitalization of at least HK$375 million will be
+held by the public at the time of Listing.
+
+
+--- page 8 ---
+10
+Commencement of Dealings
+H Share certificates for the Hong Kong Offer Shares will only become valid evidence of title
+provided that (i) the Global Offering has become unconditional in all respects and (ii) neither
+of the Underwriting Agreements has been terminated in accordance with their terms prior to
+8:00 a.m. on the Tuesday, July 11, 2023. Investors who trade H Shares on the basis of publicly
+available allocation details prior to the receipt of H Share certificates or prior to the H Share
+certificates becoming valid do so at their own risk.
+Assuming that the Global Offering becomes unconditional in all respects at or before 8:00 a.m.
+on Tuesday, July 11, 2023 (Hong Kong time), dealings in the H Shares on the Main Board of
+the Stock Exchange are expected to commence at 9:00 a.m. on Tuesday, July 11, 2023 (Hong
+Kong time). H Shares will be traded in board lots of 100 H Shares each. The stock code of the H
+Shares is 6990.
+In view of the high concentration of shareholding in a small number of H Shareholders,
+H Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of H Shares traded, and should exercise
+extreme caution when dealing in H Shares.
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the final Offer Price of HK$60.60 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of underwriting fees and commissions and
+estimated expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$1,258.9 million (assuming the Over-allotment Option is not exercised).
+The estimated total listing expenses (assuming that the Over-allotment Option is not exercised) are
+approximately HK$101.4 million, or 7.5% of the gross proceeds of the Global Offering, comprising
+HK$54.5 million underwriting fees, HK$35.3 million fees and expenses of legal advisors and
+Reporting Accountants and HK$11.6 million other fees and expenses.
+The Company intends to apply the net proceeds as follows:
+• 45.0%, or approximately HK$566.5 million will be used for the research, development and
+commercialization of our Core Products, namely, SKB264 and A166;
+• 30.0%, or approximately HK$377.7 million will be used for the research, development and
+commercialization of our other key products;
+• 12.0%, or approximately HK$151.1 million will be used to fund the continued development
+of our technology platforms, advance our other existing pipeline assets, and explore and
+develop new drug candidates;
+• 8.0%, or approximately HK$100.7 million will be used to fund the expansion of
+our manufacturing capabilities and quality control system to support the anticipated
+commercialization of our late-stage assets; and
+• 5.0%, or approximately HK$62.9 million, will be used for working capital and other general
+corporate purposes.
+
+
+--- page 9 ---
+11
+If the Over-allotment Option is exercised in full, the Company will receive additional net proceeds
+of approximately HK$195.9 million for 3,366,900 additional Offer Shares to be issued and allotted
+upon the exercise of the Over-allotment Option. In the event that the Over-allotment Option is
+exercised in full, the Company intends to adjust its allocation of the net proceeds for the above
+purposes on a pro rata basis. For further information, please refer to the section headed “Future
+Plans and Use of Proceeds ” in the Prospectus.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have been
+slightly over-subscribed. At the close of the application lists at 12:00 noon on Tuesday, July 4,
+2023, a total of 2,846 valid applications have been received pursuant to the Hong Kong Public
+Offering through the White Form eIPO service and giving electronic application instructions to
+HKSCC for a total of 2,847,400 Hong Kong Offer Shares, representing approximately 1.27 times
+of the total number of 2,244,700 Hong Kong Offer Shares initially available for subscription under
+the Hong Kong Public Offering, among which:
+• 2,838 valid applications in respect of a total of 2,127,400 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount based on the
+maximum Offer Price of HK$72.80 per Offer Share (excluding brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction
+levy of 0.00015%) of HK$5 million or less, representing approximately 1.90 times of the
+1,122,400 Hong Kong Offer Shares initially comprised in Pool A; and
+• 8 valid applications in respect of a total of 720,000 Hong Kong Offer Shares were for the
+Hong Kong Public Offering with an aggregate subscription amount based on the maximum
+Offer Price of HK$72.80 per Offer Share (excluding brokerage of 1.0%, SFC transaction
+levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy
+of 0.00015%) of more than HK$5 million, representing approximately 0.64 times of the
+1,122,300 Hong Kong Offer Shares initially comprised in Pool B.
+No application was rejected due to invalid application. 2 multiple or suspected multiple
+applications were identified and rejected. No application was rejected due to dishonored payments.
+No application for more than 1,122,300 Hong Kong Offer Shares (being 50% of the Hong Kong
+Offer Shares initially available under the Hong Kong Public Offering) was identified.
+As the over-subscription in the Hong Kong Public Offering is less than 15 times, no reallocation of
+Offer Shares has been effected from the International Offering to the Hong Kong Public Offering.
+The final number of Offer Shares under the Hong Kong Public Offering is 2,244,700 Offer Shares,
+representing approximately 10% of the total number of Offer Shares initially available under the
+Global Offering (before any exercise of the Over-allotment Option), and being allocated to 2,385
+successful applicants under the Hong Kong Public Offering, among which 1,495 applicants have
+been allotted one board lot of Offer Shares totalling 149,500 H Shares.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the paragraph headed “Basis of Allocation under the Hong Kong Public Offering ”
+below.
+
+
+--- page 10 ---
+12
+INTERNATIONAL OFFERING
+On July 4, 2023, our Company, Kelun Pharmaceutical, Mr. LIU Gexin, the Joint Sponsors, the
+Overall Coordinators and the International Underwriters (namely, Goldman Sachs (Asia) L.L.C.,
+CLSA Limited, Citigroup Global Markets Limited, ICBC International Securities Limited and
+BOCOM International Securities Limited) entered into the International Underwriting Agreement
+in respect of the International Offering.
+The Offer Shares initially offered under the International Offering have been moderately over-
+subscribed, representing approximately 3.4 times of the total number of Offer Shares initially
+available under the International Offering. The final number of Offer Shares allocated to the
+placees under the International Offering is 20,201,400 H Shares, representing approximately
+90.0% of the total number of Offer Shares initially available under the Global Offering (before
+any exercise of the Over-allotment Option). There has been an over-allocation of 3,366,900 Offer
+Shares and there are a total number of 126 placees under the International Offering, among which
+81 placees have been allotted five or fewer board lots of the Offer Shares totalling 10,000 H Shares
+and 62 placees have been allotted one board lot of the Offer Shares totalling 6,200 H Shares.
+Cornerstone Investors
+Based on the final Offer Price of HK$60.60 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy
+of 0.00015%) and pursuant to the relevant Cornerstone Investment Agreements as disclosed in the
+section headed “Cornerstone Investors – The Cornerstone Placing ” in the Prospectus, the number
+of Offer Shares subscribed for by the Cornerstone Investors is determined as set out below:
+Investment
+Amount (1)
+Number of
+Offer Shares
+(rounded
+down to
+nearest whole
+board lot of
+100 H Shares)
+Approximate
+% of H Shares
+in issue
+immediately
+following the
+completion
+of Global
+Offering (2)
+Approximately
+% of ownership
+immediately
+following the
+completion
+of Global
+Offering (2)
+($U.S. in
+million)
+RTW Funds (3) 15,000,000 1,934,400 3.2% 0.9%
+Laurion Capital Master Fund 7,286,000 939,600 1.5% 0.4%
+TruMed 7,286,000 939,600 1.5% 0.4%
+CUAM 8,380,356 (4) 1,080,700 1.8% 0.5%
+Kelun International 29,331,248 (4) 3,782,700 6.2% 1.8%
+Total 67,283,604 8,677,000 14.3% 4.0%
+
+
+--- page 11 ---
+13
+Notes:
+(1) Exclusive of brokerage, the SFC transaction levy, the Stock Exchange trading fee and the AFRC transaction
+levy, and to be converted to Hong Kong dollars based on the exchange rate as disclosed in the Prospectus.
+(2) Assuming the Over-allotment Option is not exercised.
+(3) According to an announcement dated June 27, 2023 made by RTW Venture Fund Limited, RTW Venture Fund
+Limited has changed its name to RTW Biotech Opportunities Ltd.
+(4) With respect to the Cornerstone Investors whose original investment amount is made in RMB, the relevant USD
+equivalent is calculated using the exchange rate as disclosed in the Prospectus.
+We have applied to the Stock Exchange for, and the Stock Exchange has granted us, a waiver
+from strict compliance with the requirements under Rules 9.09(b) and 10.04, and a consent under
+paragraph 5(2) of Appendix 6 of the Listing Rules, to allow Kelun International, a wholly-owned
+subsidiary of Kelun Pharmaceutical, our Controlling Shareholder, to subscribe for the H Shares in
+the Global Offering as a Cornerstone Investor.
+To the best knowledge of our Company and save for the fact that Kelun International is a wholly-
+owned subsidiary of Kelun Pharmaceutical, our Controlling Shareholder,
+(i) each of the Cornerstone Investors is an Independent Third Party and is not the Company ’s
+connected person (as defined in the Listing Rules);
+(ii) none of the Cornerstone Investors is accustomed to taking instructions from the Company,
+the Directors, Supervisors, chief executive, substantial Shareholders, existing Shareholders or
+any of their respective subsidiaries or their respective close associates;
+(iii) none of the subscription of the relevant Offer Shares by any of the Cornerstone Investors is
+financed directly or indirectly by the Company, the Directors, Supervisors, chief executive,
+substantial Shareholders, existing Shareholders or any of their respective subsidiaries or their
+respective close associates; and
+(iv) each Cornerstone Investor will be utilizing their proprietary funding or the proprietary
+funding of the funds under their management, as appropriate, as their source of funding for
+the subscription of the Offer Shares.
+There are no side arrangements or agreements between our Group and the Cornerstone Investors
+or any benefit, direct or indirect, conferred on the Cornerstone Investors by virtue of or in relation
+to the Cornerstone Placing, other than a guaranteed allocation of the relevant Offer Shares at the
+Offer Price.
+The Offer Shares to be subscribed by the Cornerstone Investors will rank pari passu in all respect
+with the fully paid Shares in issue and will count towards the public float of the Company (other
+than the Offer Shares subscribed for by Kelun International) under Rule 8.08 of the Listing Rules
+and will not be counted towards the public float of our Company for the purpose of Rule 18A.07
+of the Listing Rules. Immediately following the completion of the Global Offering, none of the
+Cornerstone Investors (other than Kelun International) will become a substantial Shareholder
+of the Company. The Cornerstone Investors or their close associates will not, by virtue of their
+cornerstone investments, have any Board representation in our Company. Other than a guaranteed
+allocation of the relevant Offer Shares at the final Offer Price, the Cornerstone Investors do not
+have any preferential rights in the Cornerstone Investment Agreements compared with other public
+Shareholders.
+
+
+--- page 12 ---
+14
+Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at any
+time during the period of six months from and including the Listing Date (the “Lock-up Period ”),
+dispose of any of the Offer Shares they have purchased pursuant to the relevant Cornerstone
+Investment Agreements, save for certain limited circumstances, such as transfers to any of its
+wholly-owned subsidiaries who will be bound by the same obligations of such Cornerstone
+Investor, including the Lock-up Period restriction.
+Please refer to the section headed “Cornerstone Investors – The Cornerstone Placing ” in the
+Prospectus for further details.
+Connected Client Placee with the Consent under Paragraph 5(1) of Placing Guidelines
+Certain Offer Shares were placed to one placee who is a connected client of an Overall Coordinator
+within the meaning of the Placing Guidelines. The Company has applied to the Stock Exchange for,
+and the Stock Exchange has granted, its consent under paragraph 5(1) of the Placing Guidelines to
+permit the Company to allocate such Offer Shares as set out below.
+Placee
+Overall
+Coordinator
+Relationship with
+the Overall
+Coordinator
+Number of
+Offer Shares
+placed
+Approximate
+percentage
+of the Offer
+Shares initially
+available under
+the Global
+Offering (1)(3)
+Approximate
+percentage of
+the total issued
+share capital
+immediately
+following the
+completion
+of the Global
+Offering (1)(3)
+CSI Capital Management Limited
+ ( “CSI”)(2)
+CLSA Limited CSI is a member of
+ the same group of
+ companies as CLSA
+1,690,300 7.53 0.78
+Note:
+(1) Assuming that the Over-allotment Option is not exercised.
+(2) CSI will act as the single counterparty of a back-to-back total return swap transaction (the “CSI Back-to-back
+TRS”) to be entered into by CSI in connection with a total return swap order (the “CSI Client TRS ”) placed
+by its ultimate clients (the “CSI Ultimate Clients ”), by which CSI will pass the full economic exposure of the
+Offer Shares placed to CSI (the “CSI Offer Shares ”) to the CSI Ultimate Clients, meaning in effect, CSI will
+hold the beneficial interest of the CSI Offer Shares on behalf of the CSI Ultimate Clients on a non-discretionary
+basis. CSI will hold the legal title and beneficial interest in the CSI Offer Shares, but will contractually agree
+to pass on the full economic exposure and return of the CSI Offer Shares to the CSI Ultimate Clients. The CSI
+Ultimate Clients may exercise an early termination right to early terminate the CSI Client TRS at any time
+from the trade date of the CSI Client TRS which should be on or after the date on which the CSI Offer Shares
+are listed on the Stock Exchange. Upon the final maturity or early termination of the CSI Client TRS by the
+CSI Ultimate Clients, CSI will dispose of the CSI Offer Shares on the secondary market and the CSI Ultimate
+Clients will receive a final termination amount of the CSI Back-to-back TRS which should have taken into
+account all the economic returns or economic loss in relation to the CSI Offer Shares and the fixed amount of
+transaction fees of the CSI Back-to back TRS and the CSI Client TRS. CSI will not exercise the voting right of
+the CSI Offer Shares during the tenor of the CSI Back-to-back TRS.
+(3) The percentage figures are subject to rounding adjustments.
+
+
+--- page 13 ---
+15
+Placing of Offer Shares to an Existing Shareholder and Close Associates of Certain Existing
+Shareholders under Paragraph 5(2) of the Placing Guidelines
+Certain Offer Shares were placed to an Existing Shareholder and Close Associates of Certain
+Existing Shareholders. The Company has applied to the Stock Exchange for, and the Stock
+Exchange has granted, a waiver from strict compliance with Rule 10.04 of the Listing Rules and
+its consent under paragraph 5(2) of the Placing Guidelines to permit the Company to allocate such
+Offer Shares as set out below.
+Placee Relationship with the Company
+Current
+shareholding in
+the Company
+held by itself
+or its associate
+(Approximate %
+of the Company ’s
+issued share
+capital)
+Number of Shares
+to be subscribed
+under the
+Global Offering
+(Approximate %
+of the total Offer
+Shares initially
+available under the
+Global Offering) (1)
+Approximate
+percentage of
+Shares held by
+itself or its close
+associate of the
+Company ’s issued
+share capital
+immediately
+following the
+completion of the
+Global Offering (1)
+Kelun International A wholly-owned subsidiary of Kelun Pharmaceutical, our
+Controlling Shareholder
+145,555,685
+(75.27%)
+3,782,700
+(16.9%)
+69.2%
+LAV Star Limited, LAV
+Star Opportunities
+Limited and LAV
+Public Equity Master
+Fund (collectively,
+“LAV”)
+LAV are close associates of two existing Shareholders, namely
+LAV Kecheng and Suzhou Likang, which hold 0.40% and
+0.20% of the total issued share capital of the Company,
+respectively
+1,157,778 480,000 0.76%
+(0.60%) (2.14%)
+Gygnus Real Gygnus Real Company is an existing Shareholder holding 0.35%
+of the total issued share capital of the Company
+672,184
+(0.35%)
+480,000
+(2.14%)
+0.53%
+Note:
+(1) Assuming that the Over-allotment Option is not exercised.
+
+
+--- page 14 ---
+16
+Save as disclosed in the above sections headed “International Offering – Cornerstone Investors ”,
+“International Offering – Connected Client Placee with the Consent under Paragraph 5(1)
+of Placing Guidelines ” and “International Offering – Placing of Offer Shares to an Existing
+Shareholder and Close Associates of Certain Existing Shareholders under Paragraph 5(2) of Placing
+Guidelines ”of this announcement, to the best knowledge, information and belief of the Directors,
+no Offer Shares placed by or through the Overall Coordinators, the Joint Global Coordinators, the
+Joint Bookrunners or the Underwriters under the Global Offering have been placed with applicants
+who are core connected persons (as defined in the Listing Rules) or directors of the Company, or
+to any connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons set out
+in paragraph 5(2) of the Placing Guidelines, whether in their own names or through nominees.
+To the best knowledge of the Company and save for the fact that Kelun International, LAV STAR
+Limited, LAV STAR Opportunities Limited, LAV Public Equity Master Fund and Gygnus Real
+Company Limited are existing Shareholders and/or close associates of the existing Shareholders
+of the Company, (i) none of the Offer Shares subscribed by public shareholders in the Hong Kong
+Public Offering and placees in the International Offering has been financed directly or indirectly
+by the Company, the Directors, Supervisors, chief executive, substantial Shareholders, existing
+Shareholders or any of their subsidiaries or their respective close associates, and (ii) none of the
+public shareholders in the Hong Kong Public Offering and placees in the International Offering
+who has subscribed for the Offer Shares is accustomed to taking instructions from the Company,
+the Directors, Supervisors, chief executive, substantial Shareholders, existing Shareholders or any
+of their subsidiaries or their respective close associates in relation to the acquisition, disposal,
+voting or other disposition of the Shares registered in their name or otherwise held by them.
+Over-allotment Option
+In connection with the Global Offering, the Company has granted the Over-allotment Option
+to the International Underwriters, exercisable by the Overall Coordinators (for themselves and
+on behalf of the International Underwriters), at any time from the Listing Date to Thursday,
+August 3, 2023, being the 30th day after the last day for lodging applications under the Hong
+Kong Public Offering, to require the Company to allot and issue up to an aggregate of 3,366,900
+additional Offer Shares, representing approximately 15.0% of the total number of Offer Shares
+initially available under the Global Offering, at the Offer Price to cover the over-allocations in
+the International Offering, if any. There has been an over-allocation of 3,366,900 Offer Shares in
+the International Offering. Such over-allocation may be covered by exercising the Over-allotment
+Option in full or in part or by making purchases in the secondary market or a combination of these
+means. In the event the Over-allotment Option is exercised, an announcement will be made on
+the Stock Exchange ’s website at www.hkexnews.hk and the Company ’s website at
+http://kelun-biotech.com . As of the date of this announcement, the Over-allotment Option
+has not been exercised.
+
+
+--- page 15 ---
+17
+LOCK-UP UNDERTAKINGS
+The Company, the Pre-IPO Investors and, all the other existing Shareholders and the Cornerstone
+Investors are subject to lock-up undertakings (the “Lock-up Undertakings ”) in respect of the
+Shares. The major terms of the Lock-up Undertakings are as follows:
+Name Class of Shares
+Number of
+Shares held in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon
+the Listing
+Percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+after Listing (3)
+Last day subject
+to the Lock-up
+Undertakings
+The Company (subject to lock-up undertakings
+pursuant to the Listing Rules and the Hong Kong
+Underwriting Agreement) N/A N/A N/A January 11, 2024 (1)
+A group of Controlling Shareholders, Pre-IPO Investors and other existing Shareholders (subject to lock-up undertakings
+pursuant to the Listing Rules, the Hong Kong Underwriting Agreement and applicable PRC laws and regulations, as the case may be)
+Kelun Pharmaceutical Domestic Shares 115,555,685 53.54% July 11, 2024 (2)
+Kelun Huicai Domestic Shares 5,250,000 2.43% July 11, 2024 (2)
+H Shares to be
+converted from
+Domestic Shares
+2,250,000 1.04%
+Kelun Huineng Domestic Shares 5,250,000 2.43% July 11, 2024 (2)
+H Shares to be
+converted from
+Domestic Shares
+2,250,000 1.04%
+Kelun Huizhi Domestic Shares 5,250,000 2.43% July 11, 2024 (2)
+H Shares to be
+converted from
+Domestic Shares
+2,250,000 1.04%
+Kelun Huide Domestic Shares 5,250,000 2.43% July 11, 2024 (2)
+H Shares to be
+converted from
+Domestic Shares
+2,250,000 1.04%
+WANG Jingyi Domestic Shares 2,850,000 1.32% July 11, 2024 (2)
+H Shares to be
+converted from
+Domestic Shares
+2,850,000 1.32%
+MSD H Shares to be
+converted from
+Unlisted Foreign
+Shares
+13,443,693 6.23% July 11, 2024 (2)
+
+
+--- page 16 ---
+18
+Name Class of Shares
+Number of
+Shares held in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon
+the Listing
+Percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+after Listing (3)
+Last day subject
+to the Lock-up
+Undertakings
+Wealthy Linkage Unlisted Foreign
+Shares
+3,633,914 1.68% July 11, 2024 (2)
+H Shares to be
+converted from
+Unlisted Foreign
+Shares
+3,633,914 1.68%
+Leyue Capital Unlisted Foreign
+Shares
+1,008,276 0.47% July 11, 2024 (2)
+H Shares to be
+converted from
+Unlisted Foreign
+Shares
+1,008,277 0.47%
+FIIF Domestic Shares 7,144,177 3.31% July 11, 2024 (2)
+Ningbo Daoyi H Shares to be
+converted from
+Domestic Shares
+4,200,000 1.95% July 11, 2024 (2)
+Kexin Lunda Domestic Shares 1,160,506 0.54% July 11, 2024 (2)
+H Shares to be
+converted from
+Domestic Shares
+1,160,506 0.54%
+Cinda Capital H Shares to be
+converted from
+Domestic Shares
+386,835 0.18% July 11, 2024 (2)
+LAV Kecheng Unlisted Foreign
+Shares
+771,852 0.36% July 11, 2024 (2)
+Suzhou Likang Domestic Shares 385,926 0.18% July 11, 2024 (2)
+Anling Weijian Domestic Shares 967,088 0.45% July 11, 2024 (2)
+BOSC Xingling H Shares to be
+converted from
+Domestic Shares
+734,987 0.34% July 11, 2024 (2)
+
+
+--- page 17 ---
+19
+Name Class of Shares
+Number of
+Shares held in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon
+the Listing
+Percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+after Listing (3)
+Last day subject
+to the Lock-up
+Undertakings
+Gygnus Real Unlisted Foreign
+Shares
+134,436 0.06% July 11, 2024 (2)
+H Shares to be
+converted from
+Unlisted Foreign
+Shares
+537,748 0.25%
+Wutong Juke Domestic Shares 410,690 0.19% July 11, 2024 (2)
+H Shares to be
+converted from
+Domestic Shares
+205,345 0.10%
+Chengdu Wenjiang Emerging Industry Venture H Shares to be
+converted from
+Domestic Shares
+386,835 0.18% July 11, 2024 (2)
+ZHOU Youcai H Shares to be
+converted from
+Domestic Shares
+386,835 0.18% July 11, 2024 (2)
+Gao Ling Liangheng Domestic Shares 115,778 0.05% July 11, 2024 (2)
+H Shares to be
+converted from
+Domestic Shares
+115,778 0.05%
+Longyi Technology H Shares to be
+converted from
+Domestic Shares
+193,418 0.09% July 11, 2024 (2)
+Cornerstone Investors (subject to lock-up undertakings pursuant to the Cornerstone Investment Agreements)
+RTW Funds H Shares 1,934,400 0.9% January 11, 2024 (2)
+Laurion Capital Master Fund H Shares 939,600 0.4% January 11, 2024 (2)
+TruMed H Shares 939,600 0.4% January 11, 2024 (2)
+CUAM H Shares 1,080,700 0.5% January 11, 2024 (2)
+Kelun International H Shares 3,782,700 1.8% January 11, 2024 (2)
+
+
+--- page 18 ---
+20
+Notes:
+(1) The Company may issue Shares without any lock-up obligations after the indicated date.
+(2) The Shareholder(s) and Cornerstone Investor(s) may dispose of or transfer Shares without any lock-up
+obligation after the indicated date.
+(3) Assuming the Over-allotment Option is not exercised.
+PUBLIC FLOAT
+The Stock Exchange has exercised its discretion under 8.08(1)(d) and has granted the Company
+a waiver from strict compliance with the requirements of Rule 8.08(1)(a) of the Listing Rules.
+Therefore, our minimum public float shall be the higher of:
+(i) 20.88% of the total issued share capital of the Company; or
+(ii) such percentage of H Shares to be held by the public immediately after the completion of the
+Global Offering and the exercise of the Over-allotment Option (if any).
+Immediately following completion of the Global Offering and before the exercise of the Over–
+allotment Option, (i) the number of H Shares in public hands will be 45,057,571 H Shares,
+representing approximately 20.88% of the total issued share capital of the Company which satisfies
+the minimum percentage prescribed in the conditions imposed in the waiver granted by the Stock
+Exchange from strict compliance with Rule 8.08(1) of the Listing Rules, and (ii) the Company will
+comply with Rule 18A.07 of the Listing Rules that a portion of the total number of the Company ’s
+issued shares with a market capitalization of at least HK$375 million will be held by the public at
+the time of Listing.
+The Directors confirm that (a) no placee will, individually, be placed more than 10% of the
+enlarged issued share capital of the Company immediately after the Global Offering; (b) there
+will not be any new substantial shareholder (as defined in the Listing Rules) of the Company
+immediately after the Global Offering; (c) the number of H Shares in public hands will satisfy the
+minimum percentage as approved by the Stock Exchange; (d) the three largest public shareholders
+of the Company do not hold more than 50% of the H Shares in public hands at the time of Listing
+in compliance with Rules 8.08(3) and 8.24 of the Listing Rules; and (e) there will be at least 300
+Shareholders at the time of Listing in compliance with Rule 8.08(2) of the Listing Rules.
+
+
+--- page 19 ---
+21
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure and
+Conditions of the Global Offering – Conditions of the Global Offering ” in the Prospectus, 2,385
+valid applications made by the public through giving electronic applications instructions to HKSCC
+via CCASS and through the White Form eIPO service will be conditionally allocated on the basis
+set out below:
+Number of
+H Shares
+applied for
+Number of
+valid
+applications
+Pool A
+Basis of allocation/ballot
+Approximate
+percentage
+allotted
+of the total
+number of
+H Shares
+applied for
+100 1,846 1,385 out of 1,846 to receive 100 Shares 75.03%
+200 219 100 Shares plus 109 out of 219 to receive additional 100 Shares 74.89%
+300 99 200 Shares plus 24 out of 99 to receive additional 100 Shares 74.75%
+400 84 200 Shares plus 83 out of 84 to receive additional 100 Shares 74.70%
+500 107 300 Shares plus 78 out of 107 to receive additional 100 Shares 74.58%
+600 111 400 Shares plus 52 out of 111 to receive additional 100 Shares 74.47%
+700 16 500 Shares plus 3 out of 16 to receive additional 100 Shares 74.11%
+800 26 500 Shares plus 24 out of 26 to receive additional 100 Shares 74.04%
+900 9 600 Shares plus 5 out of 9 to receive additional 100 Shares 72.84%
+1,000 106 700 Shares plus 29 out of 106 to receive additional 100 Shares 72.74%
+1,500 45 1,000 Shares plus 40 out of 45 to receive additional 100 Shares 72.59%
+2,000 28 1,400 Shares plus 14 out of 28 to receive additional 100 Shares 72.50%
+2,500 33 1,800 Shares plus 4 out of 33 to receive additional 100 Shares 72.48%
+3,000 13 2,100 Shares plus 9 out of 13 to receive additional 100 Shares 72.31%
+3,500 3 2,500 Shares 71.43%
+4,000 13 2,800 Shares plus 6 out of 13 to receive additional 100 Shares 71.15%
+4,500 2 3,200 Shares 71.11%
+5,000 18 3,500 Shares plus 10 out of 18 to receive additional 100 Shares 71.11%
+6,000 6 4,200 Shares plus 4 out of 6 to receive additional 100 Shares 71.11%
+7,000 8 4,900 Shares plus 5 out of 8 to receive additional 100 Shares 70.89%
+8,000 2 5,600 Shares plus 1 out of 2 to receive additional 100 Shares 70.63%
+10,000 14 7,000 Shares plus 7 out of 14 to receive additional 100 Shares 70.50%
+15,000 7 10,500 Shares plus 5 out of 7 to receive additional 100 Shares 70.48%
+20,000 6 14,000 Shares plus 5 out of 6 to receive additional 100 Shares 70.42%
+25,000 1 17,600 Shares 70.40%
+30,000 5 21,100 Shares 70.33%
+35,000 1 24,500 Shares 70.00%
+40,000 3 28,000 Shares 70.00%
+45,000 2 31,500 Shares 70.00%
+50,000 3 35,000 Shares 70.00%
+60,000 2 42,000 Shares 70.00%
+2,838 Total number of Pool A successful applicants: 2,377
+
+
+--- page 20 ---
+22
+Number of
+H Shares
+applied for
+Number of
+valid
+applications
+Pool B
+Basis of allocation/ballot
+Approximate
+percentage allotted
+of the total
+number of
+H Shares
+applied for
+70,000 6 70,000 Shares 100.00%
+100,000 1 100,000 Shares 100.00%
+200,000 1 200,000 Shares 100.00%
+8 Total number of Pool B successful applicants: 8
+The final number of Offer Shares under the Hong Kong Public Offering is 2,244,700 Offer Shares,
+representing approximately 10% of the total number of Offer Shares initially available under the
+Global Offering (before any exercise of the Over-allotment Option).
+RESULTS OF ALLOCATIONS
+The Offer Price, the level of indications of interest in the International Offering, the results of
+allocations and the Hong Kong identity card/passport/Hong Kong business registration numbers of
+successful applicants under the Hong Kong Public Offering will be available at the times and date
+and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at http://kelun-biotech.com
+and the Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on
+Monday, July 10, 2023. Please note that the list of identification document numbers in this
+announcement may not be a complete list of successful applicants since only successful
+applicants whose identification document numbers are provided to HKSCC by CCASS
+Participants are disclosed. Applicants with beneficial names only but not identification
+document numbers are not disclosed due to personal privacy issue as elaborated below.
+Applicants who applied for the Offer Shares through their brokers can consult their brokers
+to enquire about their application result;
+• from the designated results of allocations website at www.iporesults.com.hk (alternatively: English
+https://www.eipo.com.hk/en/Allotment ; Chinese https://www.eipo.com.hk/zh-hk/Allotment )
+with a “search by ID ” function on a 24 hour basis from 8:00 a.m. on Monday, July 10, 2023
+to 12:00 midnight on Sunday, July 16, 2023; and
+• by telephone enquiry line by calling +852 2862 8555 between 9:00 a.m. and 6:00 p.m. on
+Monday, July 10, 2023, Tuesday July 11, 2023, Wednesday, July 12, 2023, and Thursday,
+July 13, 2023.
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ” refer
+to Hong Kong identity card numbers/passport numbers/Hong Kong business registration numbers/
+certificate of incorporation numbers/beneficial owner identification codes (if such applications
+are made by nominees as agent for the benefit of another person) whereas those displayed in the
+section headed “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are provided by CCASS Participants via CCASS. Therefore, the
+identification document numbers shown in the two sections are different in nature.
+
+
+--- page 21 ---
+23
+Since applications are subject to personal information collection statements, beneficial owner identification codes displayed in the sections
+headed “Results of Applications Made by White Form eIPO ” and “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this announcement.
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+International/Placee Subscription
+Number of H
+Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offering
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+Subscription
+as % of total
+Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Subscription
+as % of
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+% of total H
+share capital
+upon Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+% of total H
+share capital
+upon Listing
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+% of total
+issued share
+capital upon
+Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+Top 1 3,900,000 3,900,000 3,900,000 19.31% 16.55% 17.37% 15.11% 6.43% 6.09% 1.81% 1.78%
+Top 5 12,707,400 12,707,400 158,263,085 62.90% 53.92% 56.61% 49.23% 20.94% 19.84% 73.33% 72.20%
+Top 10 17,437,300 17,437,000 162,992,985 86.32% 73.99% 77.69% 67.55% 28.73% 27.22% 75.52% 74.36%
+Top 20 22,372,300 22,910,048 169,757,947 110.75% 94.93% 99.67% 86.67% 37.75% 35.77% 78.65% 77.45%
+Top 25 22,922,300 23,460,048 170,307,947 113.47% 97.26% 102.12% 88.80% 38.66% 36.62% 78.91% 77.70%
+
+
+--- page 22 ---
+24
+Top 1, 5, 10, 20 and 25 of the Shareholders upon Listing:
+Shareholders of the
+Company Subscription
+Number of H
+Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offering
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+Subscription
+as % of total
+Offer Shares
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Subscription
+as % of
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+% of total H
+share capital
+upon Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+% of total H
+share capital
+upon Listing
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+% of total
+issued share
+capital upon
+Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+Top 1 3,782,700 3,782,700 149,338,385 18.72% 16.05% 16.85% 14.65% 6.23% 5.91% 69.19% 68.13%
+Top 5 3,782,700 24,718,584 184,910,636 18.72% 16.05% 16.85% 14.65% 40.73% 38.59% 85.67% 84.36%
+Top 10 11,307,400 37,990,625 199,343,183 55.97% 47.98% 50.38% 43.81% 62.60% 59.31% 92.36% 90.94%
+Top 20 18,397,300 46,210,453 210,233,003 91.07% 78.06% 81.96% 71.27% 76.14% 72.14% 97.41% 95.91%
+Top 25 20,897,300 49,445,440 213,467,990 103.44% 88.67% 93.10% 80.96% 81.47% 77.19% 98.91% 97.39%
+Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company upon Listing:
+H Shareholders Subscription
+Number of H
+Shares held upon
+Listing
+Number of Shares
+held upon Listing
+Subscription
+as % of
+International
+Offering
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+Subscription as
+% of total Offer
+Shares (assuming
+no exercise of the
+Over-allotment
+Option)
+Subscription
+as % of Offer
+Shares (assuming
+the Over-
+allotment Option
+is exercised in
+full)
+% of total H
+share capital
+upon Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+% of total H
+share capital
+upon Listing
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+% of total
+issued share
+capital upon
+Listing
+(assuming no
+exercise of the
+Over-allotment
+Option)
+% of total
+issued share
+capital upon
+Listing
+(assuming the
+Over-allotment
+Option is
+exercised in full)
+Top 1 13,443,693 13,443,693 0.00% 0.00% 0.00% 0.00% 22.15% 20.99% 6.23% 6.13%
+Top 5 7,682,700 38,968,584 180,166,459 38.03% 32.60% 34.23% 29.76% 64.21% 60.83% 83.48% 82.19%
+Top 10 12,707,400 48,390,625 193,599,006 62.90% 53.92% 56.61% 49.23% 79.73% 75.54% 89.70% 88.32%
+Top 20 19,267,300 56,815,440 203,143,947 95.38% 81.75% 85.84% 74.64% 93.62% 88.69% 94.12% 92.68%
+Top 25 21,872,300 59,420,440 206,331,725 108.27% 92.80% 97.44% 84.73% 97.91% 92.76% 95.60% 94.13%
+In view of the high concentration of shareholding in a small number of H Shareholders, H Shareholders and prospective investors
+should be aware that the price of the H Shares could move substantially even with a small number of H Shares traded, and should
+exercise extreme caution when dealing in H Shares.
diff --git a/data/extracted_text/09663/allotment_results_summary_2023-12-04_2023120402570.txt b/data/extracted_text/09663/allotment_results_summary_2023-12-04_2023120402570.txt
new file mode 100644
index 0000000..268af88
--- /dev/null
+++ b/data/extracted_text/09663/allotment_results_summary_2023-12-04_2023120402570.txt
@@ -0,0 +1,340 @@
+--- page 1 ---
+SINO-SYNERGY HYDROGEN ENERGY TECHNOLOGY (JIAXING) CO., LTD. /
+國鴻氫能科技(嘉興)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 27 November 2023 (the “ Prospectus”) issued by Sino-Synergy
+Hydrogen Energy Technology (Jiaxing) Co., Ltd. (the “Company”).
+SUMMARY
+
+Company information
+Stock code 9663
+Stock short name SINOSYNERGY
+Dealings commencement date 5 December 2023*
+*see note at the end of the announcement
+
+Price Information
+Final Offer Price HK$19.660
+Offer Price Range HK$19.350 - HK$21.350
+Offer Price Adjustment exercised No
+
+Offer Shares and Share Capital
+Number of Offer Shares 79,520,000
+Number of Offer Shares in Public Offer 7,952,000
+Number of offer shares in International Offer 71,568,000
+Number of issued shares upon Listing 518,041,669
+
+The number of offer shares above is determined after taking into account the additional shares issued under
+the following Offer Size Adjustment Option
+
+Offer Size Adjustment Option (Upsize option)
+Number of additional shares issued under the option -
+- Public Offer -
+- International Offer -
+
+Over-allocation
+No. of Offer Shares over-allocated -
+
+Proceeds
+Gross proceeds (Note) HK$ 1,563.36 million
+Less: Estimated listing expenses payable based on Final
+Offer Price
+HK$ (107.10) million
+Net proceeds HK$ 1,456.26 million
+
+Note: Gross proceeds refers to the amount to which the issuer is entitled receive. For details of the use of
+proceeds, please refer to the Prospectus dated 27 November 2023.
+
+
+--- page 2 ---
+ALLOTMENT RESULTS DETAILS
+PUBLIC OFFER
+
+No. of valid applications 2,808
+No. of successful applications 2,808
+Subscription level 1.18 times
+Claw-back triggered No
+No. of Offer Shares initially available under the Public Offer 7,952,000
+Final no. of Offer Shares under the Public Offer 7,952,000
+% of Offer Shares under the Public Offer to the Global Offering 10.00%
+
+Note: For details of the final allocation of shares to the Public Offer , investors can refer to
+www.ewhiteform.com.hk/results to perform a search by identification number or www.sinosynergypower.com;
+www.ewhiteform.com.hk/eAnnouncement/ for the full list of allottees.
+INTERNATIONAL OFFER
+
+No. of placees 112
+Subscription Level 1.13 times
+No. of Offer Shares initially available under the International
+Offer
+71,568,000
+Final no. of Offer Shares under the International Offer 71,568,000
+% of Offer Shares under the International Offer to the Global
+Offering
+90.00%
+
+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, Supervisors, chief executive of the Company, the Single Largest Shareholder , substantial
+shareholders, 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, chief executive of the Company,
+the Single Largest Shareholder, substantial shareholders, existing shareholders of the Company 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.
+
+
+--- page 3 ---
+LOCK-UP UNDERTAKINGS
+
+Single Largest Shareholder
+ 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
+Guangdong Hongyun
+Hydrogen Energy
+Technology Co., Ltd. /
+廣東鴻運氫能源科技
+有限公司
+80,000,000 N/A 15.44% 4 December
+2024
+Subtotal 80,000,000 N/A 15.44%
+
+The expiry date of the lock-up period shown in the table above is pursuant to the Hong Kong Underwriting
+Agreement and applicable PRC laws and regulations.
+
+
+
+Other Existing 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
+Other existing
+Shareholders /
+其他現有股東
+358,521,669 N/A 69.21% 4 December
+2024
+Subtotal 358,521,669 N/A 69.21%
+
+The expiry date of the lock-up period shown in the table above is pursuant to the applicable PRC laws and
+regulations.
+
+
+--- page 4 ---
+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 12,919,000 18.05% 16.25% 12,919,000 2.49%
+Top 5 41,909,000 58.56% 52.70% 41,909,000 8.09%
+Top 10 61,400,000 85.79% 77.21% 61,400,000 11.85%
+Top 25 71,524,500 99.94% 89.95% 71,524,500 13.81%
+
+Notes
+* Ranking of placees is based on the number of H Shares allotted to the placees.
+
+
+--- page 5 ---
+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 12,919,000 18.05% 16.25% 12,919,000 16.25% 12,919,000
+ Top 5 41,909,000 58.56% 52.70% 41,909,000 52.70% 41,909,000
+ Top 10 61,400,000 85.79% 77.21% 61,400,000 77.21% 61,400,000
+ Top 25 73,216,000 102.30% 92.07% 73,216,000 92.07% 73,216,000
+
+Notes
+* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
+SHAREHOLDER CONCENTRATION ANALYSIS
+Shareholders
+Number of H
+Shares allotted
+
+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 0.00% 0.00% 0 80,000,000 15.44%
+Top 5 0 0.00% 0.00% 0 232,470,135 44.87%
+Top 10 12,919,000 18.05% 16.25% 12,919,000 321,586,277 62.08%
+Top 25 45,919,000 64.16% 57.75% 45,919,000 435,456,484 84.06%
+
+Notes
+* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.
+
+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 H SHARES APPLIED
+FOR
+NO. OF VALID
+APPLICATIONS
+BASIS OF
+ALLOTMENT/BALLOT
+APPROXIMATE
+PERCENTAGE ALLOTTED
+OF THE TOTAL NO. OF H
+SHARES APPLIED FOR
+500 1,640 500 H Shares 100.00%
+1,000 266 1,000 H Shares 100.00%
+1,500 102 1,500 H Shares 100.00%
+2,000 259 2,000 H Shares 100.00%
+2,500 86 2,500 H Shares 100.00%
+3,000 35 3,000 H Shares 100.00%
+
+
+--- page 6 ---
+3,500 14 3,500 H Shares 100.00%
+4,000 79 4,000 H Shares 100.00%
+4,500 26 4,500 H Shares 100.00%
+5,000 101 5,000 H Shares 100.00%
+7,500 49 7,500 H Shares 100.00%
+10,000 54 10,000 H Shares 100.00%
+12,500 1 12,500 H Shares 100.00%
+15,000 17 15,000 H Shares 100.00%
+17,500 6 17,500 H Shares 100.00%
+20,000 11 20,000 H Shares 100.00%
+25,000 13 23,000 H Shares 92.00%
+30,000 6 26,000 H Shares 86.67%
+35,000 3 29,000 H Shares 82.86%
+40,000 6 32,000 H Shares 80.00%
+45,000 3 35,000 H Shares 77.78%
+50,000 14 38,000 H Shares 76.00%
+100,000 6 44,000 H Shares 44.00%
+150,000 4 52,000 H Shares 34.67%
+200,000 3 65,000 H Shares 32.50%
+250,000 2 250,000 H Shares 100.00%
+400,000 1 400,000 H Shares 100.00%
+450,000 1 450,000 H Shares 100.00%
+Total 2,808 7,952,000 H Shares
+
+
+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.
+
+OTHERS / ADDITIONAL INFORMATION
+The Company has applied to the Stock Exchange to exercise its discretion under Rule 8.08(1)(d) of the
+Listing Rules to grant, and the Stock Exchange has granted, a waiver from strict compliance with the
+minimum public float requireme nt under Rule 8.08(1)(a) of the Listing Rules so that the minimum
+percentage of the H Shares from time to time to be held by the public will be 15% of the total issued share
+capital of our Company (including the Shares that may be issued under the Pre -IPO Share Incentive
+Scheme).
+
+
+--- page 7 ---
+The Directors confirm that there will be at least 300 Shareholders at the time of the Listing in compliance
+with Rule 8.08(2) of the Listing Rules, and that the three largest public Shareholders do not hold more
+than 50% of the shares held in public hands at the time of the Listing in compliance with Rule 8.08(3) and
+Rule 8.24 of the Listing Rules.
+
+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 hav e not
+been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S.
+Securities Act”). The securities may not be offered or sold in the United States except pursuant to an
+exemption from the registration requirement s of the U.S. Securities Act and in compliance with any
+applicable state securities laws, or outside the United States unless in compliance with Regulation S
+under the U.S. Securities Act. There will be no public offer of s ecurities 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 invitation or offer to
+acquire, purchase or subscribe for securities. This announcement is not a prospectus. Potential
+investors should read the Prospectus dated 27 November 2023 issued by Sino-Synergy Hydrogen Energy
+Technology (Jiaxing) Co., Ltd. for detailed information about the Global Offering described below
+before deciding whether or not to invest in the Shares thereby being offered.
+*Potential investors of the Offer Shares should note that the Overall Coordinator (for itself 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 – the 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 5 December 2023 ).
diff --git a/data/extracted_text/09676/allotment_results_summary_2023-10-11_2023101100012.txt b/data/extracted_text/09676/allotment_results_summary_2023-10-11_2023101100012.txt
new file mode 100644
index 0000000..f862075
--- /dev/null
+++ b/data/extracted_text/09676/allotment_results_summary_2023-10-11_2023101100012.txt
@@ -0,0 +1,805 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE
+AND ALLOTMENT RESULT
+SUMMARY
+Offer Price
+• The Offer Price has been determined at HK$15.36 per Offer Share (exclusive of brokerage
+of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong
+Kong Stock Exchange trading fee of 0.00565%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$15.36 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and other estimated expenses payable by the Company in connection with
+the Global Offering, are estimated to be approximately HK$716.4 million. The Company
+intends to use the net proceeds from the Global Offering in the manner as set out in the
+paragraph headed “Net Proceeds from the Global Offering ” in this announcement.
+Applications and Indications of Interest Received in the Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been slightly over-subscribed. A total of 1,154 valid applications have been received
+pursuant to the Hong Kong Public Offering through the HK eIPO White Form service
+and through the CCASS EIPO service for a total of 7,023,000 Hong Kong Offer Shares,
+representing approximately 1.31 times of the total number of 5,341,200 H Shares initially
+available for subscription under the Hong Kong Public Offering.
+• As the over-subscription in the Hong Kong Public Offering represents less than 15 times of
+the total number of Offer Shares initially available under the Hong Kong Public Offering,
+no reallocation procedure as disclosed in the section headed “Structure of the Global
+Offering – The Hong Kong Public Offering – Reallocation ” in the Prospectus has been
+applied and no H Shares have been reallocated from the International Offering to the Hong
+Kong Public Offering. The final number of H Shares under the Hong Kong Public Offering
+is 5,341,200 H Shares, representing approximately 10% of the total number of Offer Shares
+initially available under the Global Offering. The total number of successful applicants
+under the Hong Kong Public Offering is 1,154, among which 711 Shareholders were
+allocated with one board lot of the H Shares.
+
+
+--- page 2 ---
+4
+International Offering
+• The H Shares initially offered under the International Offering have been slightly over-
+subscribed, representing approximately 1.26 times of the total number of H Shares initially
+available under the International Offering. The final number of H Shares under the
+International Offering is 48,066,300 H Shares, representing approximately 90% of the total
+number of H Shares initially available under the Global Offering.
+• A total of 102 placees have been allotted five board lots of H Shares or less, representing
+approximately 91.07% of the 112 placees under the International Offering. These placees
+have been allotted 30,600 H Shares in total, representing approximately 0.06% of the Offer
+Shares available under the International Offering and 0.06% of the Offer Shares available
+under the Global Offering.
+• A total of 102 placees have been allotted one board lot of H Shares or less, representing
+approximately 91.07% of the 112 placees under the International Offering. These placees
+have been allotted 30,600 H Shares in total, representing approximately 0.06% of the Offer
+Shares available under the International Offering and 0.06% of the Offer Shares available
+under the Global Offering.
+Cornerstone Investor
+• Based on the Offer Price of HK$15.36 per Offer Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong
+Stock Exchange trading fee of 0.00565%), pursuant to the Cornerstone Investment
+Agreement, the Cornerstone Investor has subscribed for a total of 6,632,400 H Shares,
+representing in aggregate (a) approximately 0.62% of the issued share capital of the
+Company immediately upon completion of the Global Offering and (b) approximately
+12.42% of the number of Offer Shares under the Global Offering. Please refer to the section
+headed “Cornerstone Investor ” in the Prospectus for further details of the Cornerstone
+Investor.
+Placing of Offer Shares with Consent under the Placing Guidelines
+• The International Offering is in compliance with the Placing Guidelines for Equity
+Securities in Appendix 6 to the Listing Rules (the “Placing Guidelines ”). None of
+the Joint Sponsors, the Overall Coordinators, the Joint Global Coordinators, the Joint
+Bookrunners, the Joint Lead Managers, the Underwriters, the Capital Market Intermediaries
+and their respective affiliated companies and connected clients of the lead broker or of any
+distributors (as defined in the Placing Guidelines) has taken up any Offer Shares for its
+own benefit under the Global Offering.
+• The Directors confirm that, to the best of their knowledge and information, no Offer Shares
+under the International Offering placed by or through the Overall Coordinators, the Joint
+Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the Underwriters
+or the Capital Market Intermediaries under the Global Offering have been placed with
+any core connected person (as defined in the Listing Rules) of the Company, or to any
+connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons set
+out in paragraph 5(2) of the Placing Guidelines, whether in their own names or through
+nominees.
+
+
+--- page 3 ---
+5
+Confirmations of Cornerstone Investor, public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering
+• To the best of the knowledge, information and belief of our Company, (i) the Cornerstone
+Investor and the QDII (as defined in the Prospectus) are independent of the Company,
+its connected persons and their respective associates; (ii) the Cornerstone Investor is not
+accustomed to take and has not taken instructions from our Company, our subsidiaries, the
+Directors, Supervisors, chief executive of our Company, Controlling Shareholders Group,
+substantial Shareholders or existing Shareholders or any of their respective close associates
+in relation to the acquisition, disposal, voting or other disposition of the Offer Shares; and
+(iii) the subscription of the Offer Shares by the Cornerstone Investor is not financed by our
+Company, our subsidiaries, the Directors, Supervisors, chief executive of our Company,
+Controlling Shareholders Group, substantial Shareholders or existing Shareholders or any
+of their respective close associates.
+• To the best knowledge of the Company, (i) none of the Offer Shares subscribed by public
+Shareholders in the Hong Kong Public Offering and placees in the International Offering
+has been directly or indirectly financed by the Company, the Directors, chief executive,
+Supervisors, the Controlling Shareholders, Substantial Shareholders, existing Shareholders
+or any of their subsidiaries or their respective close associates; (ii) none of the public
+Shareholders in the Hong Kong Public Offering and placees in the International Offering
+who has subscribed for the Offer Shares is accustomed to taking instructions from the
+Company, the Directors, chief executive, Supervisors, the Controlling Shareholders,
+Substantial Shareholders, existing Shareholders or any of their subsidiaries or their
+respective close associates in relation to the acquisition, disposal, voting or other
+disposition of the H Shares registered in their name or otherwise held by them; (iii)
+there is no side agreement or arrangement between the Company, any of the Directors,
+the Supervisors, chief executive, the Controlling Shareholders, substantial Shareholders,
+existing Shareholders of the Company or any of its subsidiaries or their respective close
+associates, on one hand, and the public subscribers or the placee who has subscribed for
+the Offer Shares, on the other hand; (iv) no rebate has been, directly or indirectly, provided
+by the Company, the Directors, the Supervisors, chief executive of the Company, the
+Controlling Shareholders, substantial Shareholders of the Company, existing Shareholders
+of the Company or any of their subsidiaries or their respective close associates or syndicate
+members or any other brokers or underwriters to any public Shareholders in the Hong
+Kong Public Offering or placees in the International Offering; and (v) the consideration
+payable by the public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering for each Share subscribed for or purchased by them is the same as
+the final Offer Price as determined by the Company, in additional to brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong
+Stock Exchange trading fee of 0.00565%.
+• The Directors confirm that, no placees will, individually, be placed more than 10% of the
+enlarged issued share capital of the Company immediately after the Global Offering.
+
+
+--- page 4 ---
+6
+Lock-up Obligations
+• The Company, all existing Shareholders, and the Cornerstone Investor are subject to
+lock-up obligations in respect of the Shares as set out in the paragraph headed “Lock-up
+Obligations ” in this announcement.
+Public Float
+• The Company have applied to the Stock Exchange to exercise its discretion under Rule
+8.08(1)(d) of the Listing Rules to grant, and the Stock Exchange has granted, a waiver from
+strict compliance with the minimum public float requirement under Rule 8.08(1)(a) of the
+Listing Rules so that the minimum percentage of the Shares from time to time to be held by
+the public will be 15.7% of the total issued share capital of our Company (including the H
+Shares to be converted from Domestic Unlisted Shares and held by the Pre-IPO Investors,
+and assuming the Conversion of Domestic Unlisted Shares into H Shares is completed).
+• The Directors confirm that there will be at least 300 Shareholders at the time of the Listing
+in compliance with Rule 8.08(2) of the Listing Rules, and that the three largest public
+Shareholders do not hold more than 50% of the shares held in public hands at the time of
+the Listing in compliance with Rule 8.08(3) and Rule 8.24 of the Listing Rules.
+Results of Allocation
+The final Offer Price, results of applications in the Hong Kong Public Offering, the level of
+indications of interests in the International Offering, the level of applications in the Hong Kong
+Public Offering and the basis of allocation of the Hong Kong Offer Shares will be published on
+Wednesday, October 11, 2023, on the websites of the Company at www.shiyuedaotian.com and
+the Stock Exchange at www.hkexnews.hk .
+
+
+--- page 5 ---
+7
+The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the HK eIPO White Form service or through the CCASS
+EIPO service, including the Hong Kong identity card numbers, passport numbers or Hong Kong
+business registration numbers, certificate of incorporation numbers of successful applicants
+(where applicable) and the number of Hong Kong Offer Shares successfully applied for, will be
+made available at the times and dates and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.shiyuedaotian.com
+and the Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on
+Wednesday, October 11, 2023;
+• from “IPO Results ” function in the IPO App or the designated results of allocations
+website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search
+by ID ” function on a 24-hour basis from 8:00 a.m. on Wednesday, October 11, 2023 to
+12:00 midnight, on Tuesday, October 17, 2023;
+• by telephone enquiry line by calling +852 3691 8488 between 9:00 a.m. and 6:00 p.m. from
+Wednesday, October 11, 2023 to Monday, October 16, 2023 (excluding Saturday, Sunday
+and public holiday in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White
+Form ” in this announcement refer to Hong Kong identity card numbers/passport numbers/
+Hong Kong business registration numbers/certificate of incorporation numbers/beneficial owner
+identification codes (if such applications are made by nominees as agent for the benefit of
+another person) whereas those displayed in the section headed “Results of Applications Made
+by Giving Electronic Application Instructions to HKSCC via CCASS ” in this announcement are
+provided by CCASS Participants via CCASS. Therefore, the identification document numbers
+shown in the two sections are different in nature.
+Please note that the list of identification document numbers set out in this announcement may not
+be a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants or via the HK eIPO White
+Form service are disclosed. Applicants with beneficial names only but not identification
+document numbers are not disclosed due to personal privacy issue as elaborated below.
+Applicants who applied for the Hong Kong Offer Shares through their brokers or nominees can
+consult their brokers or nominees to enquire about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK
+eIPO White Form ” and “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS ” are redacted and not all details of applications are disclosed
+in this announcement.
+
+
+--- page 6 ---
+8
+Dispatch/Collection of H Share Certificates/e-Auto Refund Payment Instructions/Refund
+Checks
+• Applicants who applied for 1,000,000 Hong Kong Offer Shares or more through the HK
+eIPO White Form service and who have been successfully or partially successfully
+allocated Hong Kong Offer Shares may collect refund cheque(s) and/or H Share
+certificate(s) (where applicable) from the H Share Registrar, Tricor Investor Services
+Limited, at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong from 9:00 a.m. to
+1:00 p.m. on Wednesday, October 11, 2023, or any other place or date the Company may
+notify.
+• Applicants being individuals who are eligible for personal collection cannot authorize any
+other person to make collection on their behalf. Corporate applicants which are eligible
+for personal collection must attend by their authorised representatives bearing letters
+of authorisation from their corporations stamped with the corporations ’ chops. Both
+individuals and authorised representatives (if applicable) must produce, at the time of
+collection, evidence of identity acceptable to the H Share Registrar.
+• H Share certificates for Hong Kong Offer Shares allocated to applicants who applied
+through the HK eIPO White Form service which are either not available for personal
+collection or which are available but are not collected in person within the time specified
+for collection are expected to be dispatched by ordinary post to those entitled to them at
+their own risk on or before Wednesday, October 11, 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their H Share certificates issued in the
+name of HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participant stock accounts who gave electronic application instructions on their behalf on
+Wednesday, October 11, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allotted to them
+with that CCASS Participant.
+• Applicants who applied through the HK eIPO White Form service and paid the
+application monies from a single bank account will have refund monies (if any) dispatched
+to their application payment accounts in the form of e-Auto Refund payment instructions
+on Wednesday, October 11, 2023. Applicants who applied through the HK eIPO White
+Form service and paid the application monies from multiple bank accounts will have
+refund monies (if any) dispatched to the addresses specified on their HK eIPO White
+Form applications in the form of refund check(s) in favour of the applicant (or, in the case
+of joint applications, the first-named applicant) by ordinary post at their own risk on or
+before Wednesday, October 11, 2023.
+• Refund monies for applicants who have applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their brokers or custodians on
+Wednesday, October 11, 2023.
+
+
+--- page 7 ---
+9
+• H Share certificates will only become valid evidence of title at 8:00 a.m. on Thursday,
+October 12, 2023, 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.
+• No temporary document of title will be issued in respect of the H Shares. No receipt will
+be issued for sums paid on application.
+Commencement of Dealings
+• H Share certificates for the Hong Kong Offer Shares will only become valid evidence of
+title provided that the Global Offering has become unconditional in all respects and neither
+of the Underwriting Agreements has been terminated in accordance with its terms, which is
+scheduled to be at around 8:00 a.m. on Thursday, October 12, 2023. Investors who trade H
+Shares on the basis of publicly available allocation details before the receipt of the H Share
+certificates and before they become valid do so entirely of their own risk.
+• Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. on
+Thursday, October 12, 2023 (Hong Kong time), it is expected that dealings in the H Shares
+on the Stock Exchange will commence at 9:00 a.m. on Thursday, October 12, 2023 (Hong
+Kong time). The H Shares will be traded on the Main Board of the Stock Exchange in
+board lots of 300 H Shares each. The stock code of the H Shares will be 9676.
+In view of the high concentration of shareholding in a small number of H Shareholders,
+H Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of H Shares traded, and should exercise
+extreme caution when dealing in H Shares.
+OFFER PRICE
+The Offer Price has been determined at HK$15.36 per H Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong Stock
+Exchange trading fee of 0.00565%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$15.36 per H Share, the net proceeds from the Global Offering
+to be received by the Company, after deduction of underwriting fees and commissions and other
+estimated expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$716.4 million.
+
+
+--- page 8 ---
+10
+The Company intends to apply the net proceeds as follows:
+• Approximately 35.0%, or HK$250.7 million, will be used to enhance our cooperation with
+suppliers and strengthen our procurement capability. In particular:
+(i) approximately 20%, or HK$143.3 million, will be used to (a) strengthen seamless
+cooperation with our existing and new suppliers, mainly located in our five core
+production areas, namely Shenyang Xinmin, Wuchang, Songyuan, Tonghe and Aohan,
+primarily through payment of deposit to secure consistent and quality supply of raw
+materials for us, as well as (b) investment and support in facilities, systems and
+technologies that would further improve the efficiency of our integrated supply chain,
+such as the harvest and transportation of raw materials;
+(ii) approximately 10%, or HK$71.6 million, will be used for contract farming for (i)
+procurement amount of approximately 28,300 tons of paddy in terms of production
+volume and (ii) farming area of approximately 720 farming hectare with expected yield
+of approximately 4,790 tons of paddy in terms of agricultural land area; and
+(iii) approximately 5%, or HK$35.8 million, will be used to further enhance our internal
+procurement capabilities.
+• Approximately 30.0%, or HK$214.9 million, will be used for expanding our production
+capacity, upgrading existing production lines, broadening the geographic coverage of our
+warehousing and logistics, and providing funds for production activities related to our
+business expansion. In particular:
+(i) approximately 14.1%, or HK$101.2 million, will be used for expanding our production
+capacity, including construction of new factories, establishment of new production and
+processing lines, and purchase of equipment, to better meet growing market demand for
+our products;
+(ii) approximately 1.5%, or HK$10.9 million, will be used for upgrading existing production
+lines through adoption of more advanced equipment and improved techniques to
+enhance production efficiency;
+(iii) approximately 13.9%, or HK$99.4 million, will be used for broadening the geographic
+coverage of our warehousing and logistics, including expansion of warehouse facilities,
+purchase of warehouse equipment, establishment of logistics bases and introduction
+of advanced logistics equipment and systems, to optimize our inventory management,
+improve warehousing capabilities and enhance logistical efficiency; and
+(iv) approximately 0.5%, or HK$3.4 million, will be used to fund for production activities
+related to our business expansion such as factory renovation and procurement of related
+facilities associated with capacity expansion to further support capacity expansion and
+improve overall operational efficiency.
+
+
+--- page 9 ---
+11
+• Approximately 10.0%, or HK$71.6 million, will be used to expand our channel coverage
+and establish our sales ecosystem. We plan to deepen our cooperation with large offline
+retailers such as national and regional supermarkets, amplify our presence over the
+e-commerce platforms with leading positions, explore opportunities in emerging e-commerce
+platforms and broaden our distribution network on China, thereby improving the visibility
+and accessibility of our products to existing and potential customers across the country. In
+particular:
+(i) approximately 3.0%, or HK$21.5 million, will be used to continuously enhance
+our cooperation with grocery retail channel partners such as national and regional
+supermarkets and increase consumer interaction through offline activities, such as
+product display, product tasting, and sales promotion, to enhance consumer education
+and improve brand loyalty; and
+(ii) approximately 7.0%, or HK$50.2 million, will be used to invest in channels other than
+grocery retail channel partners, including leveraging the advantages of the consumer
+reach, and brand awareness of e-commerce platforms to enhance our service capabilities
+in such channels, and to explore new e-commerce platforms to expand our market
+coverage, operate efficiently, harness more profitability potentials and explore new
+cooperation opportunities in emerging channels such as social e-commerce platforms
+and community group buying platforms. In addition, we also plan to expand our
+distribution network to enhance market presence and deepen market penetration.
+• Approximately 10.0%, or HK$71.6 million, will be used to enhance our brand equity. A
+quality and diversified product offerings are the key to our high brand recognition. As we
+increase our efforts on the development of products, consumers need time to get used to new
+products, in particular products under new categories. Thus, we plan to increase our brand
+marketing efforts on our existing products and potential products to be launched in the future.
+In particular:
+(i) approximately 7.0%, or HK$50.2 million, will be used for advertising, including
+content productions, live streaming and promotion on social media platforms, celebrity
+endorsements, engagement with KOLs and other online and offline integrated promotion
+activities, to enhance our brand awareness and improve brand impact; and
+(ii) approximately 3.0%, or HK$21.5 million, will be used to enhance our sales and
+marketing capabilities and further optimize the efficiency of our sales and marketing
+promotion.
+• Approximately 5.0%, or HK$35.8 million, will be used to construct our digital middle
+platform system, which integrates the full digital chain including IT infrastructure, backend,
+middleware, frontend and touchpoints, to optimize the support for our business management.
+• Approximately 10.0%, or HK$71.6 million, will be used for working capital and general
+corporate purposes.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
+the Prospectus.
+
+
+--- page 10 ---
+12
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have been
+slightly over-subscribed. At the close of the application lists at 12:00 noon on Thursday, October
+5, 2023, a total of 1,154 valid applications have been received pursuant to the Hong Kong Public
+Offering through the HK eIPO White Form service and through the CCASS EIPO service for
+a total of 7,023,000 Hong Kong Offer Shares, representing approximately 1.31 times of the total
+number of 5,341,200 Offer Shares initially available for subscription under the Hong Kong Public
+Offering, among which:
+• 1,152 valid applications in respect of a total of 1,681,800 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount based on
+the maximum Offer Price of HK$15.8 per H Share (excluding brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong Stock
+Exchange trading fee of 0.00565%) of HK$5 million or less, representing approximately 0.63
+times of the 2,670,600 Hong Kong Offer Shares initially comprised in Pool A; and
+• 2 valid applications in respect of a total of 5,341,200 Hong Kong Offer Shares were for the
+Hong Kong Public Offering with an aggregate subscription amount based on the maximum
+Offer Price of HK$15.8 per Offer Share (excluding brokerage of 1.0%, SFC transaction levy
+of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong Stock Exchange trading fee
+of 0.00565%) of more than HK$5 million, representing 2 times of the 2,670,600 Hong Kong
+Offer Shares initially comprised in Pool B.
+No application has been rejected due to dishonored payments. No invalid application has been
+identified and rejected. No multiple applications or suspected multiple applications have been
+identified and rejected. No application for more than 2,670,600 (being 50% of the 5,341,200 Hong
+Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
+As the over-subscription in the Hong Kong Public Offering is less than 15 times, no reallocation
+procedure as disclosed in the section headed “Structure of the Global Offering – The Hong Kong
+Public Offering – Reallocation ” in the Prospectus has been applied and no H Shares have been
+reallocated from the International Offering to the Hong Kong Public Offering. The final number
+of Offer Shares under the Hong Kong Public Offering is 5,341,200 H Shares, representing
+approximately 10% of the total number of Offer Shares initially available under the Global
+Offering. The total number of successful applicants under the Hong Kong Public Offering is 1,154,
+among which 711 Shareholders were allocated with one board lot of the H Shares.
+The H Shares offered in the Hong Kong Public Offering were conditionally allocated on the basis
+set out in the paragraph headed “Basis of Allocation under the Hong Kong Public Offering ” below.
+
+
+--- page 11 ---
+13
+INTERNATIONAL OFFERING
+The H Shares initially offered under the International Offering have been slightly over-subscribed,
+representing approximately 1.26 times of the total number of H Shares initially available under
+the International Offering. The final number of Offer Shares allocated to the placees under the
+International Offering is 48,066,300 H Shares, representing approximately 90% of the total number
+of Offer Shares initially available under the Global Offering.
+A total of 102 placees have been allotted five board lots of H Shares or less, representing
+approximately 91.07% of the 112 placees under the International Offering. These placees have
+been allotted 30,600 H Shares in total, representing approximately 0.06% of the Offer Shares
+initially available under the International Offering and 0.06% of the Offer Shares available under
+the Global Offering.
+A total of 102 placees have been allotted one board lot of H Shares or less, representing
+approximately 91.07% of the 112 placees under the International Offering. These placees have
+been allotted 30,600 H Shares in total, representing approximately 0.06% of the Offer Shares
+available under the International Offering and 0.06% of the Offer Shares available under the
+Global Offering.
+Cornerstone Investor
+Based on the Offer Price of HK$15.36 per Offer Share (excluding brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong Stock Exchange
+trading fee of 0.00565%) and pursuant to the Cornerstone Investment Agreement as disclosed
+in the section headed “Cornerstone Investor ” in the Prospectus, the number of Offer Shares
+subscribed for by the Cornerstone Investor is determined as set out below:
+Cornerstone Investor
+Total
+Investment
+Amount (1)
+Number of
+Offer Shares
+to be
+acquired (2)
+Approximate
+% of the
+Offer Shares
+Approximate
+% of the
+International
+Offer Shares
+Approximate
+% of our total
+issued share
+capital
+immediately upon
+completion of the
+Global Offering
+(assuming the
+Share Split is
+completed)
+(HK$)
+Xinmin Tianshi 102,903,191 6,632,400 12.42% 13.80% 0.62%
+Notes:
+(1) The total investment amount include brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction
+levy of 0.00015% and Stock Exchange trading fee of 0.00565%. Due to the currency exchange difference, the
+total investment amount disclosed in the table above is different from the illustrative investment amount to be
+subscribed by the Cornerstone Investor as disclosed in the Prospectus.
+
+
+--- page 12 ---
+14
+(2) Subject to rounding down to the nearest whole board lot of 300 Shares. The final number of the Offer Shares
+allotted to the Cornerstone Investor was calculated with reference to the actual total investment amount in Hong
+Kong dollars. Due to the total investment amount difference as illustrated in note (1) above, the final number
+of Offer Shares allotted may be different from the illustrative number of Offer Shares to be subscribed by the
+Cornerstone Investor as disclosed in the Prospectus.
+Please refer to the section headed “Cornerstone Investor ” in the Prospectus for further details
+relating to the Cornerstone Investor.
+CONFIRMATIONS OF CORNERSTONE INVESTOR, PUBLIC SHAREHOLDERS IN
+THE HONG KONG PUBLIC OFFERING AND PLACEES IN THE INTERNATIONAL
+OFFERING
+To the best knowledge of the Company, none of the Cornerstone Investor, public Shareholders in
+the Hong Kong Public Offering and placees in the International Offering is an existing Shareholder
+or a close associate of existing Shareholders.
+Further, to the best of the knowledge, information and belief of our Company, (i) the Cornerstone
+Investor and the QDII (as defined in the Prospectus) are independent of the Company, its connected
+persons and their respective associates; (ii) the Cornerstone Investor is not accustomed to take and
+has not taken instructions from our Company, our subsidiaries, the Directors, Supervisors, chief
+executive of our Company, Controlling Shareholders Group, substantial Shareholders or existing
+Shareholders or any of their respective close associates in relation to the acquisition, disposal,
+voting or other disposition of the Offer Shares; and (iii) the subscription of the Offer Shares by the
+Cornerstone Investor is not financed by our Company, our subsidiaries, the Directors, Supervisors,
+chief executive of our Company, Controlling Shareholders Group, substantial Shareholders or
+existing Shareholders or any of their respective close associates.
+Furthermore, to the best knowledge of the Company, (i) none of the Offer Shares subscribed by
+public Shareholders in the Hong Kong Public Offering and placees in the International Offering has
+been directly or indirectly financed by the Company, the Directors, chief executive, Supervisors,
+the Controlling Shareholders, Substantial Shareholders, existing Shareholders or any of their
+subsidiaries or their respective close associates; (ii) none of the public Shareholders in the Hong
+Kong Public Offering and placees in the International Offering who has subscribed for the Offer
+Shares is accustomed to taking instructions from the Company, the Directors, chief executive,
+Supervisors, the Controlling Shareholders, Substantial Shareholders, existing Shareholders or any
+of their subsidiaries or their respective close associates in relation to the acquisition, disposal,
+voting or other disposition of the Shares registered in their name or otherwise held by them;
+(iii) there is no side agreement or arrangement between the Company, any of the Directors, the
+Supervisors, chief executive, the Controlling Shareholders, substantial Shareholders, existing
+Shareholders of the Company or any of its subsidiaries or their respective close associates, on one
+hand, and the public subscribers or the placee who has subscribed for the Offer Shares, on the
+other hand; (iv) no rebate has been, directly or indirectly, provided by the Company, the Directors,
+the Supervisors, chief executive of the Company, the Controlling Shareholders, substantial
+Shareholders of the Company, existing Shareholders of the Company or any of their subsidiaries
+or their respective close associates or syndicate members or any other brokers or underwriters to
+any public Shareholders in the Hong Kong Public Offering or placees in the International Offering;
+and (v) the consideration payable by the public Shareholders in the Hong Kong Public Offering
+and placees in the International Offering for each Share subscribed for or purchased by them is
+the same as the final Offer Price as determined by the Company, in addition to brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong Stock
+Exchange trading fee of 0.00565%.
+
+
+--- page 13 ---
+15
+No Offer Shares placed by or through the Overall Coordinators, the Joint Global Coordinators, the
+Joint Bookrunners, the Joint Lead Managers and the Underwriters under the Global Offering have
+been placed with any core connected person (as defined in the Listing Rules) of the Company, or
+any connected clients (as set out in paragraph 5(1) of the Placing Guidelines) or persons set out in
+paragraph 5(2) of the Placing Guidelines, whether in their own names or through nominees. The
+Directors confirm that, no placees will, individually, be placed more than 10% of the enlarged
+issued share capital of the Company immediately after the Global Offering.
+LOCK-UP OBLIGATIONS
+The Company, all existing Shareholders, and the Cornerstone Investor are subject to lock-up
+obligations (the “Lock-up Obligations ”) in respect of the Shares. The major terms of the Lock-up
+Obligations are as follows:
+Name Class of Shares
+Number of Shares
+subject to the Lock-up
+Obligations after Listing
+Percentage of
+shareholding in the
+Company subject to the
+Lock-up Obligations
+after Listing
+Last day of the
+Lock-up Period
+The Company (subject to lock-up obligations pursuant to the Listing Rules and the Hong Kong Underwriting Agreement)
+N/A N/A N/A April 12, 2024 (1)
+The Controlling Shareholders (subject to lock-up obligations pursuant to the Listing Rules, October 12, 2024 (2)
+ the Hong Kong Underwriting Agreement and PRC Company Law)
+All other existing Shareholders (subject to lock-up obligations pursuant to the PRC Company Law)
+Generation Sigma HK H Shares 88,710,970 8.31% October 12, 2024 (3)
+Domestic Unlisted Shares 38,018,980 3.56% October 12, 2024 (3)
+MIC H Shares 34,811,460 3.26% October 12, 2024 (3)
+Domestic Unlisted Shares 14,919,190 1.40% October 12, 2024 (3)
+YF Mega Media (HK) H Shares 34,508,920 3.23% October 12, 2024 (3)
+Sequoia Capital China Growth H Shares 14,378,720 1.35% October 12, 2024 (3)
+Domestic Unlisted Shares 14,378,720 1.35% October 12, 2024 (3)
+Sequoia Hanchen H Shares 14,378,720 1.35% October 12, 2024 (3)
+Domestic Unlisted Shares 14,378,720 1.35% October 12, 2024 (3)
+CMC October H Shares 12,883,330 1.21% October 12, 2024 (3)
+Domestic Unlisted Shares 5,521,430 0.52% October 12, 2024 (3)
+Zhao Shulan Domestic Unlisted Shares 12,883,340 1.21% October 12, 2024 (3)
+Ceran Investment H Shares 3,220,830 0.30% October 12, 2024 (3)
+Domestic Unlisted Shares 1,380,360 0.13% October 12, 2024 (3)
+Subtotal 304,373,690 28.5%
+Cornerstone Investor (subject to lock-up obligations pursuant to its Cornerstone Investment Agreement)
+Xinmin Tianshi H Shares 6,632,400 0.62% April 12, 2024 (4)
+Subtotal 6,632,400 0.62%
+Total 1,021,378,050 95.62%
+
+
+--- page 14 ---
+16
+Notes:
+(1) The Company may not issue Shares prior to the indicated date except otherwise permitted by the Listing Rules.
+(2) This includes the Shares held by Mr. Wang, Ms. Zhao, Shiyue Daotian Enterprise Management, Shiyue Jinfeng,
+Shiyue Zhongxin and Shenyang Hongsheng which are the Controlling Shareholders of the Company. For
+details, please refer to sections headed “Relationship with Controlling Shareholders Group ” and “Substantial
+Shareholders ” in the Prospectus. Each of the Controlling Shareholder(s) shall not dispose of any of its existing
+Shares on or before the indicated date.
+(3) Each of the other existing Shareholders shall not dispose of any of its existing Shares on or before the indicated
+date.
+(4) The Cornerstone Investor shall not dispose of the Offer Shares acquired in the Global Offering on or before the
+indicated date.
+Each of the existing Shareholders are subject to statutory lock-up requirement for one year from the
+Listing Date pursuant to the PRC Company Law. As such, all existing Shareholders of 811,852,700
+Domestic Unlisted Shares and 202,892,950 H Shares (as converted from Domestic Unlisted Shares)
+will be subject to the one-year statutory lock-up requirement. Please refer to the paragraph headed
+“History, Development and Corporate Structure – Principal Terms of the Pre-IPO Investments and
+Pre-IPO Investors ’ Rights ” in the Prospectus for details of the lock-up requirement.
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure of the
+Global Offering – Conditions of the Global Offering ” in the Prospectus, 1,154 valid applications
+made by the public through the HK eIPO White Form service and the CCASS EIPO service will
+be conditionally allocated on the basis set out below:
+Pool A
+Number
+of H Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of H Shares
+applied for
+300 711 300 H Shares 100.00%
+600 178 600 H Shares 100.00%
+900 43 900 H Shares 100.00%
+1,200 17 1,200 H Shares 100.00%
+1,500 27 1,500 H Shares 100.00%
+1,800 14 1,800 H Shares 100.00%
+2,100 13 2,100 H Shares 100.00%
+2,400 9 2,400 H Shares 100.00%
+2,700 5 2,700 H Shares 100.00%
+3,000 58 3,000 H Shares 100.00%
+4,500 27 4,500 H Shares 100.00%
+6,000 21 6,000 H Shares 100.00%
+7,500 6 7,500 H Shares 100.00%
+9,000 2 9,000 H Shares 100.00%
+10,500 4 10,500 H Shares 100.00%
+
+
+--- page 15 ---
+17
+Pool A
+Number
+of H Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of H Shares
+applied for
+12,000 9 12,000 H Shares 100.00%
+15,000 4 15,000 H Shares 100.00%
+30,000 2 30,000 H Shares 100.00%
+150,000 1 150,000 H Shares 100.00%
+270,000 1 270,000 H Shares 100.00%
+Total 1,152 Total number of Pool A successful applicants: 1,152
+Pool B
+Number
+of H Shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of H Shares
+applied for
+2,670,600 2 1,829,700 H Shares 68.51%
+Total 2 Total number of Pool B successful applicants: 2
+The final number of Offer Shares under the Hong Kong Public Offering is 5,341,200 H Shares,
+representing approximately 10% of the total number of Offer Shares initially available under the
+Global Offering.
+RESULTS OF ALLOCATIONS
+The final Offer Price, results of applications in the Hong Kong Public Offering, the level of
+indications of interests in the International Offering, the level of applications in the Hong Kong
+Public Offering and the basis of allocation of the Hong Kong Offer Shares will be published on
+Wednesday, October 11, 2023, on the websites of the Company at www.shiyuedaotian.com and
+the Stock Exchange at www.hkexnews.hk .
+
+
+--- page 16 ---
+18
+The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the HK eIPO White Form service or through the CCASS
+EIPO service, including the Hong Kong identity card numbers, passport numbers or Hong Kong
+business registration numbers, certificate of incorporation numbers of successful applicants (where
+applicable) and the number of the Hong Kong Offer Shares successfully applied for, will be made
+available at the times and dates and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.shiyuedaotian.com
+and the Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on
+Wednesday, October 11, 2023;
+• from “IPO Results ” function in the IPO App or the designated results of allocations website
+at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search by ID ”
+function on a 24-hour basis from 8:00 a.m. on Wednesday, October 11, 2023 to 12:00
+midnight on Tuesday, October 17, 2023;
+• by telephone enquiry line by calling +852 3691 8488 between 9:00 a.m. and 6:00 p.m. from
+Wednesday, October 11, 2023 to Monday, October 16, 2023 (excluding Saturday, Sunday and
+public holiday in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White Form ”
+in this announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner identification
+codes (if such applications are made by nominees as agent for the benefit of another person)
+whereas those displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS
+Participants via CCASS. Therefore, the identification document numbers shown in the two sections
+are different in nature.
+Please note that the list of identification document numbers set out in this announcement may not
+be a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants or via the HK eIPO White
+Form service are disclosed. Applicants with beneficial names only but not identification document
+numbers are not disclosed due to personal privacy issue as elaborated below. Applicants who
+applied for the Hong Kong Offer Shares through their brokers or nominees can consult their
+brokers or nominees to enquire about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK eIPO
+White Form ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 17 ---
+19
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee Subscription
+Number of
+H Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares
+Subscription
+as % of
+total Offer
+Shares
+Number of
+H Shares
+as % of total
+H Shares
+Number of
+Shares as %
+of total Shares
+upon Listing
+Top 1 12,228,000 12,228,000 12,228,000 25.44% 22.90% 4.77% 1.14%
+Top 5 35,801,700 35,801,700 35,801,700 74.48% 67.03% 13.97% 3.35%
+Top 10 48,035,700 48,035,700 48,035,700 99.94% 89.94% 18.74% 4.50%
+Top 20 48,038,700 48,038,700 48,038,700 99.94% 89.95% 18.74% 4.50%
+Top 25 48,040,200 48,040,200 48,040,200 99.95% 89.95% 18.74% 4.50%
+Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Shareholder Subscription
+Number of
+H Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares (1)
+Subscription
+as % of
+total Offer
+Shares
+Number of
+H Shares
+as % of total
+H Shares
+Number of
+Shares as %
+of total Shares
+upon Listing
+Top 1 – – 710,371,960 0.00% 0.00% 0.00% 66.50%
+Top 5 – 172,410,070 950,098,920 0.00% 0.00% 67.27% 88.95%
+Top 10 19,869,300 219,541,420 1,030,013,760 41.34% 37.20% 85.66% 96.43%
+Top 20 (2) 50,063,100 252,956,050 1,064,808,750 96.54% 93.74% 98.70% 99.69%
+Top 25 (3) 52,175,100 255,068,050 1,066,920,750 99.94% 97.69% 99.52% 99.88%
+Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company upon Listing:
+H Shareholder Subscription
+Number of
+H Shares held
+upon Listing
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offer Shares (1)
+Subscription
+as % of total
+Offer Shares
+Number of
+H Shares
+as % of total
+H Shares
+Number of
+ Shares as %
+of total Shares
+upon Listing
+Top 1 – 88,710,970 126,729,950 0.00% 0.00% 34.61% 11.86%
+Top 5 – 186,788,790 268,484,400 0.00% 0.00% 72.88% 25.14%
+Top 10 31,601,700 231,273,820 318,490,860 65.75% 59.17% 90.24% 29.82%
+Top 20 (4) 51,965,100 254,858,050 343,455,450 99.94% 97.30% 99.44% 32.15%
+Top 25 (5) 52,205,100 255,098,050 343,695,450 99.94% 97.75% 99.53% 32.18%
+Notes:
+(1) Represents the subscription level as a percentage of the total number of Shares allocated under the International
+Offering without taking into account the subscription by successful applicants under the Hong Kong Public
+Offering.
+(2) This includes 2 successful applicants under the Hong Kong Public Offering.
+(3) This includes 6 successful applicants under the Hong Kong Public Offering.
+(4) This includes 3 successful applicants under the Hong Kong Public Offering.
+(5) This includes 8 successful applicants under the Hong Kong Public Offering.
+
+
+--- page 18 ---
+20
+In view of the high concentration of shareholding in a small number of H Shareholders,
+H Shareholders and prospective investors should be aware that the price of the H Shares
+could move substantially even with a small number of H Shares traded, and should exercise
+extreme caution when dealing in H Shares.
diff --git a/data/extracted_text/09680/allotment_results_2024-07-09_2024070901101.txt b/data/extracted_text/09680/allotment_results_2024-07-09_2024070901101.txt
new file mode 100644
index 0000000..a53b29e
--- /dev/null
+++ b/data/extracted_text/09680/allotment_results_2024-07-09_2024070901101.txt
@@ -0,0 +1,757 @@
+--- page 1 ---
+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.
+Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those
+defined in the Hong Kong prospectus dated June 28, 2024 (the “Prospectus ”) of Chenqi Technology Limited (the
+“Company ”).
+This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase
+or subscribe for any securities. This announcement is not a prospectus. Potential investors should read the Prospectus
+for detailed information about the Global Offering described 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.
+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 to sell or solicitation to purchase or subscribe for
+securities in the United States or in any other jurisdictions. The securities mentioned herein 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 any state securities laws 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. 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.
+The Hong Kong Offer Shares will be offered to the public in Hong Kong subject to terms and conditions set out in
+the Prospectus. The Hong Kong Offer Shares will not be offered to any person who is outside Hong Kong and/or
+not resident in Hong Kong. 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 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 – Grounds for
+Termination ” in the Prospectus at any time prior to 8:00 a.m. on the Listing Date (which is currently expected to be on
+Wednesday, July 10, 2024).
+No stabilizing manager is appointed, and it is anticipated that no stabilization activities will be carried out in relation
+to the Global Offering.
+
+
+--- page 2 ---
+2
+Chenqi Technology Limited
+ʮ̡
+(Incorporated in the Cayman Islands with limited liability)
+GLOBAL OFFERING
+Number of Offer Shares under the Global
+Offering
+30,004,800 Shares
+Number of Hong Kong Offer Shares 1,804,300 Shares (as adjusted after
+reallocation)
+Number of International Offer Shares 28,200,500 Shares (as adjusted after
+reallocation)
+Offer Price HK$35.00 per Offer Share plus brokerage
+of 1.0%, SFC transaction levy of 0.0027%,
+AFRC transaction levy of 0.00015%
+and the Stock Exchange trading fee of
+0.00565% (payable in full on application,
+subject to refund)
+Nominal value US$0.0005 per Share
+Stock code 9680
+Joint Sponsors, Sponsor-Overall Coordinators, Overall Coordinators, Joint Global
+Coordinators, Joint Bookrunners and Joint Lead Managers
+(in no particular order)
+Joint Bookrunners
+
+
+--- page 3 ---
+CHENQI TECHNOLOGY LIMITED
+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 June 28, 2024 (the “Prospectus”) issued by Chenqi Technology
+Limited (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 9680
+Stock short name CHENQI TECH
+Dealings commencement date July 10, 2024*
+*see note at the end of the announcement
+
+Price Information
+Final Offer Price HK$35.000
+Offer Price Range HK$34.000 - HK$45.400
+Offer Price Adjustment exercised No
+
+Offer Shares and Share Capital
+Number of Offer Shares 30,004,800
+Number of Offer Shares in Public Offer (after reallocation) 1,804,300
+Number of offer shares in International Offer (after
+reallocation)
+28,200,500
+Number of issued shares upon Listing 204,113,852
+
+Proceeds
+Gross proceeds (Note) HK$ 1050.2 million
+Less: Estimated listing expenses payable based on Final
+Offer Price
+HK$ (80.90) million
+Net proceeds HK$ 969.2 million
+
+Note: Gross proceeds refer to the amount to which the issuer is entitled to receive. For details of the use
+of proceeds, please refer to the Prospectus dated June 28, 2024.
+
+
+ALLOTMENT RESULTS DETAILS
+HONG KONG PUBLIC OFFER
+
+No. of valid applications 1,467
+No. of successful applications 1,467
+Subscription level 0.60 times
+Claw-back triggered No
+
+
+--- page 4 ---
+No. of Offer Shares initially available under the Public Offer 3,000,500
+Final no. of Offer Shares under the Public Offer (after
+reallocation)
+1,804,300
+% of Offer Shares under the Public Offer to the Global Offering
+(after reallocation)
+Approximate 6.01%
+
+Note: For details of the final allocation of shares to the Public Offer , investors can refer to
+https://www.hkeipo.hk/iporesult to perform a search by name or identification number or
+https://www.hkeipo.hk/iporesult for the full list of allottees.
+INTERNATIONAL OFFER
+
+No. of placees 106
+Subscription Level 1.18 times
+No. of Offer Shares initially available under the International
+Offer
+27,004,300
+Final no. of Offer Shares under the International Offer (after
+reallocation)
+28,200,500
+
+% of Offer Shares under the International Offer to the Global
+Offering (after reallocation)
+93.99%
+
+The Directors confirm that, to the best of their knowledge, information and belief, save for waivers from strict compliance
+with Rule 9.09(b) and/or Rule 10.04 of the Listing Rules and consents 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 Offer Shares in the
+International Offering to certain existing Shareholders and a close associate of an existing Shareholder, (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
+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 instruc tions from the Company, any of the Directors,
+chief executive of the Company, controlling shareholders, substantial shareholders, existing shareholders of the
+Company 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.
+The placees in the International Offer include the following:
+Cornerstone Investors
+
+Investor
+No. of
+Offer
+Shares
+allocated
+Approximate %
+of Offer
+Shares
+Approximate %
+of total
+issued share
+capital after
+the
+Global
+Offering
+Aggregate %
+of ownership
+upon
+completion
+of the Global
+Offering
+Existing
+shareholders
+or
+their close
+associates
+GAIG 10,561,600 35.20% 5.17% 35.52%
+An existing
+Shareholder
+Hongkong
+Pony AI
+Limited 1,517,300 5.06% 0.74% 5.35%
+An existing
+Shareholder
+Voyager
+Global Inc. 6,627,700 22.09% 3.25% 5.70%
+Close associate
+of an existing
+Shareholder
+WeRide Inc. 4,416,000 14.72% 2.16% 2.16% No
+Total 23,122,600 77.06% 11.33% 48.73% -
+
+
+--- page 5 ---
+Allotees with waivers/consent
+
+
+Investor
+No. of
+Offer
+Shares
+allocated
+Approximate %
+of Offer
+Shares
+Approximate %
+of total
+issued share
+capital after
+the
+Global
+Offering
+No. of
+Shares
+held
+upon
+Listing
+Aggregate %
+of
+ownership
+upon
+completion
+of the
+Global
+Offering
+Existing
+shareholders
+or
+their close
+associates
+GAIG 10,561,600 35.20% 5.17% 72,505,165 35.52%
+An existing
+Shareholder
+Note(1)
+Hongkong
+Pony AI
+Limited 1,517,300 5.06% 0.74% 10,909,912 5.35%
+An existing
+Shareholder
+Note(2)
+Voyager
+Global
+Inc. 6,627,700 22.09% 3.25% 11,627,700 5.70%
+Close
+associate of
+an existing
+Shareholder
+Note(3)
+Total 18,706,600 62.35% 9.16% 95,042,777 46.56% -
+
+Notes:
+
+(1) The Company has applied for, and the Stock Exchange has granted, a waiver from strict compliance with Rule 9.09(b)
+and Rule 10.04 of the Listing Rules and a written consent under Paragraph 5(2) of Appendix F1 to the Listing Rules in
+relation to the all ocation of Offer Shares to one of the Cornerstone Investors, GAIG, which is an existing Shareholder
+and a core connected person of the Company. The allocation of Offer Shares to GAIG is in compliance with all the
+conditions under the waiver and consent granted by the Stock Exchange. See “Waivers from Strict Compliance with the
+Listing Rules and Exemptions from Compliance with the Companies (Winding Up and Miscellaneous Provisions)
+Ordinance” in the Prospectus for more details.
+(2) The Company has applied for, and the Stock Exchange has granted, a waiver from strict compliance with Rule 10.04
+of the Listing Rules and a written consent under Paragraph 5(2) of Appendix F1 to the Listing Rules in relation to the
+allocation of Offer Shares to one of the Cornerstone Investors, Hongkong Pony AI Limited, which is an existing
+Shareholder. The allocation of Offer Shares to Hongkong Pony AI Limited is in compliance with all the conditions under
+the waiver and consent granted by the Stock Exchange. See “Waivers from Strict Compliance with the Listing Rules and
+Exemptions from Compliance with the Companies (Winding Up and Miscellaneous Provisions) Ordinance” in the
+Prospectus for more details.
+(3) The Company has applied for, and the Stock Exchange has granted, a waiver from strict compliance with Rule 10.04
+of the Listing Rules and a written consent under Paragraph 5(2) of Appendix F1 to the Listing Rules in relation to the
+allocation of Offer Shares to one of the Cornerstone Investors, Voyager Global Inc., which is a close associate of Jovial
+Lane Limited, an existing Shareholder. The allocation of Offer Shares to Voyager Global Inc. is in compliance with all
+the conditions under the waiver and consent granted by the Stock Exchange. See “Waivers from Strict Compliance with
+the Listing Rules and Exemptions from Compliance with the Companies (Winding Up and Miscellaneous Provisions)
+Ordinance” in the Prospectus for more details.
+
+LOCK-UP UNDERTAKINGS
+
+
+--- page 6 ---
+Controlling Shareholders
+Name
+Number of Shares
+subject to lock-up
+undertakings upon
+Listing
+Approximate % of
+shareholding in the
+Company subject to
+lock-up undertakings
+upon Listing
+Last day subject to the
+lock-up undertakings Note
+(1)
+GAIGNote (4) and (5)
+
+72,505,165 35.52%
+January 9, 2025 (First Six-
+Month Period) Note (2)
+July 9, 2025 (second six-
+month period) Note (3)
+Guangzhou Automobile
+Group Co., Ltd.
+
+26,202,774 12.84%
+January 9, 2025 (First Six-
+Month Period) Note (2)
+July 9, 2025 (second six-
+month period) Note (3)
+China Lounge Investments
+Limited Note (4)
+26,202,774 12.84%
+January 9, 2025 (First Six-
+Month Period) Note (2)
+July 9, 2025 (second six-
+month period)Note (3)
+Subtotal 72,505,165 35.52%
+Notes:
+
+(1) The lock-up period shown in the table above is required under the relevant Listing Rule/guidance materials, and
+the first six-month lock-up period ends on January 9, 2024 (the "First Six-month Period") and the second six-month
+lock-up period ends on July 9, 2025.
+
+(2) Each of the Controlling Shareholders may dispose of or transfer Shares after the expiry of the First Six-month
+Period, provided that each of the Controlling Shareholders will not cease to be a Controlling Shareholder (except
+for the 10,561,600 Offer Shares allocated to GAIG pursuant to the Cornerstone Investment Agreement dated June
+26, 2024 and entered into by the Company, GAIG and the Overall Coordinators (for themselves and on behalf of the
+International Underwriters), which shall be subject to a lock-up period of 12 months ending on and including July 9,
+2025).
+
+(3) The Controlling Shareholders will cease to be prohibited from disposing of or transferring Shares after the
+indicated date.
+
+(4) As disclosed in the section headed “History, Reorganization and Corporate Structure – Pre-IPO Investments –
+1. Overview” in the Prospectus, the Shares owned by such Controlling Shareholders (except for the 10,561,600
+Offer Shares that GAIG subscribed under the relevant Cornerstone Investment Agreement) are also subject to lock-
+up arrangements ending on the date which is 180 days following the Listing Date, which will end earlier than the
+last day of the First Six-month Period pursuant to the relevant Listing Rule/guidance materials.
+
+(5) Pursuant to the relevant Cornerstone Investment Agreement, GAIG has agreed on a lock-up period of 12 months
+for the 10,561,600 Offer Shares (among the total 72,505,165 Shares owned by the GAIG) that GAIG subscribed
+thereunder, details of which are set out in “Lock-up Undertakings — Cornerstone Investors” below.
+
+
+Cornerstone Investors
+ Name
+Number of Shares
+subject to lock-up
+undertakings upon
+Listing
+Approximate % of
+shareholding in the
+Company subject to
+lock-up undertakings
+upon Listing
+Last day subject to the
+lock-up undertakings Note
+(1)
+GAIG 10,561,600 5.17% July 9, 2025
+
+
+--- page 7 ---
+Name
+Number of Shares
+subject to lock-up
+undertakings upon
+Listing
+Approximate % of
+shareholding in the
+Company subject to
+lock-up undertakings
+upon Listing
+Last day subject to the
+lock-up undertakings Note
+(1)
+Hongkong Pony AI
+Limited 1,517,300 0.74% July 9, 2025
+Voyager Global Inc. 6,627,700 3.25% July 9, 2025
+WeRide Inc. 4,416,000 2.16% July 9, 2025
+Subtotal 23,122,600 11.33% -
+The expiry date of the lock-up period shown in the table above is pursuant to the relevant Cornerstone Investment
+Agreements. The Cornerstone Investors have agreed on a lock-up period of 12 months ending on and including July
+9, 2025. See “Cornerstone Investors – Restrictions on the Cornerstone Investor” in the Prospectus for further
+details.
+
+
+Existing Shareholders (other than the Controlling Shareholders)
+ Name
+Number of Shares
+subject to lock-up
+undertakings upon
+Listing
+Approximate % of
+shareholding in the
+Company subject to
+lock-up undertakings
+upon Listing
+Last day subject to the
+lock-up undertakings
+Tencent Mobility Limited 32,396,688 15.87% January 9, 2025Note (1)
+Guangzhou Public
+Transport Group Co., Ltd. 10,000,000 4.90% January 9, 2025Note (1)
+Redmount Investments
+Limited 5,000,000 2.45% January 9, 2025Note (1)
+Da Yi Investment Co.,
+Limited 5,000,000 2.45% January 9, 2025Note (1)
+China Drive Investment
+Limited 5,000,000 2.45% January 9, 2025Note (1)
+Jovial Lane Limited 5,000,000 2.45% January 9, 2025Note (1)
+SMBC Trust Bank Ltd. 3,007,986 1.47% January 9, 2025Note (1)
+DMR VENTURE FUND 2,958,674 1.45% January 9, 2025Note (1)
+Hongkong Pony AI
+Limited 9,392,612 4.60% January 9, 2025Note (1) and (4)
+Guangzhou Guangshang
+Xinfu Industrial Investment
+Fund Partnership (Limited
+Partnership) 2,465,563 1.21% January 9, 2025Note (1)
+Guangzhou Industrial
+Control Mixed Reform
+Equity Investment Fund
+Partnership (Limited
+Partnership) 2,465,563 1.21% January 9, 2025Note (1)
+Guangzhou Kechuang
+Hexing Equity Investment
+Partnership (Limited
+Partnership) 1,849,172 0.91% January 9, 2025Note (1)
+Guangzhou Kechuang
+Industrial Investment Fund
+Partnership (Limited
+Partnership) 1,479,337 0.72% January 9, 2025Note (1)
+Shengrich Group Ltd 1,642,575 0.80% January 9, 2025Note (1)
+
+
+--- page 8 ---
+Name
+Number of Shares
+subject to lock-up
+undertakings upon
+Listing
+Approximate % of
+shareholding in the
+Company subject to
+lock-up undertakings
+upon Listing
+Last day subject to the
+lock-up undertakings
+Guangzhou Development
+Zone Hydrogen City
+Growth Industry
+Investment Fund
+Partnership (Limited
+Partnership) 657,030 0.32% January 9, 2025Note (1)
+Guangzhou Chentu Huajie
+Venture Capital Fund
+Partnership (Limited
+Partnership) 2,135,348 1.05% January 9, 2025Note (1)
+Guangzhou Jinglong
+Venture Capital Partnership
+(Limited Partnership) 657,030 0.32% January 9, 2025Note (1)
+Gongqingcheng Xinyi
+Ruian Investment
+Partnership (Limited
+Partnership) 927,201 0.45% January 9, 2025Note (1)
+Chengdu Chiding Venture
+Capital Management Co.,
+Ltd. 657,030 0.32% January 9, 2025Note (1)
+Shaoguan Rongyu
+Enterprise Management
+Co., Ltd. 468,134 0.23% January 9, 2025Note (1)
+Guangzhou Huiyin New
+Energy Equity Investment
+Partnership (Limited
+Partnership) 680,026 0.33% January 9, 2025Note (1)
+Foshan Kaisheng No. 1
+Equity Investment
+Partnership (Limited
+Partnership) 328,515 0.16% January 9, 2025Note (1)
+Guangdong Ruihao No. 1
+New Energy Equity
+Investment Partnership
+(Limited Partnership) 1,133,377 0.56% January 9, 2025Note (1)
+Guangdong Ruihao No. 2
+New Energy Equity
+Investment Partnership
+(Limited Partnership) 377,792 0.19% January 9, 2025Note (1)
+Guangmintou New Energy
+Equity Investment (Foshan)
+Partnership (Limited
+Partnership) 2,611,695 1.28% January 9, 2025Note (1)
+Guangdong Hengxin
+Zhixing Equity Investment
+Partnership (Limited
+Partnership) 519,053 0.25% January 9, 2025Note (1)
+Hefei Gotion High-Tech
+Power Energy Co., Ltd. 5,190,538 2.54% January 9, 2025Note (1)
+Ruqi Mobility(a) Limited 110,000 0.05% July 9, 2025Note (2)
+Ruqi Mobility(b) Limited 22,190 0.01% July 9, 2025Note (2)
+
+
+--- page 9 ---
+Name
+Number of Shares
+subject to lock-up
+undertakings upon
+Listing
+Approximate % of
+shareholding in the
+Company subject to
+lock-up undertakings
+upon Listing
+Last day subject to the
+lock-up undertakings
+Ruqi Mobility(c) Limited 52,500 0.03% July 9, 2025Note (2)
+Ruqi Mobility(d) Limited 60,000 0.03% July 9, 2025Note (2)
+Ruqi Mobility(e) Limited 60,000 0.03% July 9, 2025Note (2)
+Mr. Han Feng 90,000 0.04% July 9, 2025Note (2)
+Zhixing On Time Limited 7,383,288 3.62% January 9, 2025Note (1)
+Zhixing Jovial I Limited 296,570 0.15% January 9, 2025Note (1)
+Zhixing Jovial II Limited 90,000 0.04% January 9, 2025Note (1)
+Subtotal 112,165,487 54.95% -
+Notes:
+
+(1) The expiry date of the lock -up period is pursuant to the Lock -up Undertakings as defined and further detailed in
+the section headed “Underwriting – Underwriting Arrangements and Expenses – Hong Kong Public Offering –
+Undertakings by the Existing Shareholders” in the Prospectus.
+
+(2) The expiry date of the lock-up period is pursuant to the lock-up arrangement of 12 months under the Pre-IPO
+Equity Incentive Plan as defined and further detailed in the section headed “Statutory and General Information - D.
+Share Incentive Scheme” in Appendix IV to the Prospectus.
+
+(3) As disclosed in the section headed “History, Reorganization and Corporate Structure – Pre-IPO Investments –
+1. Overview” in the Prospectus, the existing Shareholders, other than Zhixing On Time Limited, Zhixing Jovial I
+Limited, Zhixing Jovial II Limited, Ruqi Mobility(a) Limited, Ruqi Mobility(b) Limited, Ruqi Mobility(c) Limited,
+Ruqi Mobility(d) Limited and Ruqi Mobility(e) Limited, are also subject to lock-up arrangements ending on the date
+that is 180 days following the Listing Date, which will end earlier than the last day of the lock-up period pursuant to
+the relevant Lock-up Undertakings.
+
+(4)In addition to the 9,392,612 Shares held by Pony AI as shown here, Pony AI subscribed additional 1,517,300
+Offer Shares pursuant to the relevant Cornerstone Investment Agreement and agreed on a lock-up period of 12
+months for such Offer Shares subscribed thereunder, details of which are set out in “Lock-up Undertakings —
+Cornerstone Investors” above.
+
+
+--- page 10 ---
+PLACEE CONCENTRATION ANALYSIS
+Placees Number of Shares allotted
+
+Allotment as % of International Offering
+(after reallocation) Allotment as % of total Offer Shares
+Number of
+ Shares held upon Listing#
+
+Approximate % of total issued share
+capital upon Listing
+Top 1 10,561,600 37.45% 35.20% 92,620,909 45.38%
+Top 5 25,540,200 90.57% 85.12% 112,599,509 55.17%
+Top 10 28,183,900 99.94% 93.93% 124,635,821 61.06%
+Top 25 28,188,400 99.96% 93.95% 124,640,321 61.06%
+
+Notes
+* Ranking of placees is based on the number of Shares allotted to the placees.
+# For the purpose of the shareholder concentration analysis, all Shares owned by those Shareholders controlled by Guangzhou Municipal Government are aggregated and such
+Shareholders are presumed to be a group of Shareholders under the common control of Guangzhou Municipal Government.
+
+
+--- page 11 ---
+SHAREHOLDER CONCENTRATION ANALYSIS
+Shareholders*
+Number of Offer S
+hares allotted
+
+Allotment as % of
+International Offering
+(after reallocation)
+Allotment as % of total
+Offer Shares
+Number of Shares held
+upon Listing#
+
+% of total issued share
+capital upon Listing
+Top 1 10,561,600 37.45% 35.20% 92,620,909 45.38%
+Top 5 18,706,600 66.33% 62.35% 154,938,497 75.91%
+Top 10 23,122,600 81.99% 77.06% 179,545,035 87.96%
+Top 25 28,183,000 99.94% 93.93% 201,807,362 98.87%
+
+Notes:
+* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.
+# For the purpose of the shareholder concentration analysis, all Shares owned by those Shareholders controlled by
+Guangzhou Municipal Government are aggregated and such Shareholders are presumed to be a group of Shareholders
+under the common control of Guangzhou Municipal Government.
+
+
+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:
+POOL A
+No. of
+Shares
+applied
+for
+ No. of
+valid
+application Basis of allotment/ballot
+Approximate %
+allotted of the
+total no. of
+Shares applied
+for
+
+100 853 100 shares 100.00%
+200 191 200 shares 100.00%
+300 74 300 shares 100.00%
+400 26 400 shares 100.00%
+500 81 500 shares 100.00%
+600 35 600 shares 100.00%
+700 8 700 shares 100.00%
+800 5 800 shares 100.00%
+900 4 900 shares 100.00%
+1,000 77 1,000 shares 100.00%
+1,500 19 1,500 shares 100.00%
+2,000 22 2,000 shares 100.00%
+2,500 7 2,500 shares 100.00%
+
+
+--- page 12 ---
+3,000 8 3,000 shares 100.00%
+3,500 2 3,500 shares 100.00%
+4,000 6 4,000 shares 100.00%
+4,500 5 4,500 shares 100.00%
+5,000 8 5,000 shares 100.00%
+6,000 2 6,000 shares 100.00%
+7,000 1 7,000 shares 100.00%
+8,000 3 8,000 shares 100.00%
+9,000 4 9,000 shares 100.00%
+10,000 12 10,000 shares 100.00%
+20,000 4 20,000 shares 100.00%
+30,000 2 30,000 shares 100.00%
+50,000 1 50,000 shares 100.00%
+100,000 5 100,000 shares 100.00%
+
+ Total
+
+1,465
+Total number of Pool A successful applicants:
+1,465
+
+POOL B
+No. of
+Shares
+applied
+for
+ No. of
+valid
+application Basis of allotment/ballot
+Approximate %
+allotted of the
+total no. of
+Shares applied
+for
+
+200,000 2 200,000 shares 100.00%
+
+Total
+
+2 Total number of Pool B successful applicants: 2
+
+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.
+
+STABILIZATION
+No stabilizing manager is appointed, and it is anticipated that no stabilization activities will be carried out in
+relation to the Global Offering.
+
+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
+
+
+--- page 13 ---
+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.
+
+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 ment ioned
+herein have not been, and will not be, registered under the United States Securities Act of 1933, as
+amended (the “U.S. Securities Act”). The securities may not be offered or sold in the United States
+except pursuant to an exemption from the registra tion requirements of the U.S. Securities Act and in
+compliance with any applicable state securities laws, or outside the United States unless in
+compliance with Regulation S under the U.S. Securities Act. There will be no 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 invitation or offer to
+acquire, purchase or subscribe for securities. This announcement is not a prospectus. Potential investors
+should read the Prospectus dated June 28, 2024 issued by Chenqi Technology Limited for detailed
+information about the Global Offering described below before deciding whether or not to invest in the
+Shares thereby 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 July 10, 2024).
+
+
+--- page 14 ---
+3
+PUBLIC FLOAT
+Immediately following the completion of the Global Offering, (i) at least 25% of the total number
+of issued Shares will be held by the public, in compliance with Rule 8.08(1)(a) of the Listing
+Rules; (ii) the three largest public Shareholders do not hold more than 50% of the Shares in public
+hands at the time of Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules;
+(iii) there will not be any new substantial Shareholder (as defined in the Listing Rules) of the
+Company; and (iv) there will be at least 300 Shareholders at the time of 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. on Wednesday, July 10,
+2024 (Hong Kong time), provided that the Global Offering has become unconditional and the right
+of termination described in the paragraph 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 on the basis of publicly available allocation details 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. on Wednesday,
+July 10, 2024 (Hong Kong time), it is expected that dealings in the Shares on the Stock Exchange
+will commence at 9:00 a.m. on Wednesday, July 10, 2024 (Hong Kong time).
+The Shares will be traded in board lots of 100 Shares each, and the stock code of the Shares will
+be 9680.
+By order of the Board
+Chenqi Technology Limited
+Mr. Gao Rui
+Chairman of the Board
+Hong Kong, July 9, 2024
+As at the date of this announcement, the board of directors of the Company comprises (i) Mr.
+Jiang Hua as executive director; (ii) Mr. Gao Rui, Ms. Xiao Yan, Mr. Liang Weiqiang, Mr. Zhong
+Xiangping and Ms. Bai Hui as non-executive directors; and (iii) Mr. Zhang Junyi, Mr. Zhang
+Senquan and Mr. Li Maoxiang as independent non-executive directors.
diff --git a/data/extracted_text/09686/allotment_results_summary_2023-09-27_2023092700032.txt b/data/extracted_text/09686/allotment_results_summary_2023-09-27_2023092700032.txt
new file mode 100644
index 0000000..844ccce
--- /dev/null
+++ b/data/extracted_text/09686/allotment_results_summary_2023-09-27_2023092700032.txt
@@ -0,0 +1,827 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+• The Offer Price has been determined at HK$4.76 per Share (exclusive of brokerage of
+1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock
+Exchange trading fee of 0.00565%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$4.76 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and the other estimated expenses payable by the Company in connection with
+the Global Offering, are estimated to be approximately HK$554.5 million. The estimated
+total listing expenses are approximately HK$82.4 million, or 12.9% of the gross proceeds
+of the Global Offering, comprising HK$21.6 million underwriting related expenses,
+HK$40.2 million fees and expenses of legal advisors and Reporting Accountants, and
+HK$20.6 million other fees and expenses. The Company intends to use the net proceeds
+from the Global Offering in the manner as set out in the paragraph headed “Net Proceeds
+from the Global Offering ” in this announcement.
+• As no over-allocation of International Offer Shares has been made, the Over-allotment
+Option has not been and will not be exercised, and no additional proceeds are expected to
+be received by the Company in this connection.
+Applications and Indications of Interest Received in the Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been under-subscribed. A total of 2,299 valid applications have been received pursuant to
+the Hong Kong Public Offering through the White Form eIPO service and through the
+CCASS EIPO service for a total of 11,995,500 Hong Kong Offer Shares, representing
+approximately 0.90 times of the total number of 13,381,000 Hong Kong Offer Shares
+initially available for subscription under the Hong Kong Public Offering.
+• Due to the under-subscription in the Hong Kong Public Offering, the reallocation
+procedures as described in the section headed “Structure of the Global Offering ” in the
+Prospectus have been effected, and a total number of 1,385,500 Hong Kong Offer Shares
+have been reallocated from the Hong Kong Public Offering to the International Offering,
+representing approximately 1.04% of the total number of Offer Shares initially available
+under the Global Offering. As a result of such reallocation, the final number of Offer
+Shares allocated to the Hong Kong Public Offering has been reduced to 11,995,500 Offer
+Shares, representing 8.96% of the total number of Offer Shares initially available under
+the Global Offering. The Sole Sponsor and the Sole Overall Coordinator and each of the
+Directors confirm that the maximum total number of Offer Shares that may be allocated
+to the Hong Kong Public Offering following the reallocation (the “Allocation Cap ”, as
+defined in Guidance Letter HKEX-GL91-18) has not been exceeded.
+
+
+--- page 2 ---
+4
+International Offering
+• The Offer Shares initially offered under the International Offering have been slightly
+over-subscribed by approximately 1.15 times of the total number of Offer Shares initially
+available under the International Offering. The final number of Offer Shares under the
+International Offering is 121,810,000 Shares, representing approximately 91.04% of the
+total number of Offer Shares initially available under the Global Offering. There has been
+no over-allocation in the International Offering.
+• There are a total of 106 placees under the International Offering, among which (i) 96
+placees, representing 90.57% of the total number of placees under the International
+Offering, have been allotted five or fewer board lots of Offer Shares, totalling 49,500
+Shares, representing 0.04% of the total number of Offer Shares available under the
+International Offering; and (ii) 94 placees have been allotted one board lot of Offer Shares,
+representing approximately 88.68% of the total number of placees under the International
+Offering, totalling 47,000 Shares, representing approximately 0.04% of the total number of
+the Offer Shares available under the International Offering.
+Cornerstone Investors
+• Based on the Offer Price of HK$4.76 per Offer Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%) and pursuant to the Cornerstone Investment Agreements, the
+Cornerstone Investors have subscribed for a total of 46,592,000 Offer Shares, representing
+in aggregate (a) approximately 5.53% of the total issued share capital of the Company
+immediately upon completion of the Share Subdivision and the Global Offering and (b)
+approximately 34.82% of the number of Offer Shares under the Global Offering.
+• Please refer to the section headed “Cornerstone Investors ” in this announcement for further
+details of the Cornerstone Investors.
+Compliance with Placing Guidelines of the Listing Rules
+We confirm that, to the best of our knowledge, information and belief, no Offer Shares placed
+by or through the Sole Overall Coordinator, Joint Global Coordinators, the Joint Bookrunners,
+the Joint Lead Managers, the CMIs or the Underwriters under the Global Offering have been
+placed with (i) any core connected persons of the Company, (ii) any existing Shareholders of
+the Company, or (iii) their respective close associates whether in their own names or through
+nominees.
+None of the Sole Sponsor, the Sole Overall Coordinator, the Joint Global Coordinators, the Joint
+Bookrunners, the Joint Lead Managers, the CMIs, the Underwriters and their respective affiliated
+companies and connected clients of the lead broker or of any distributors (as defined in the
+Placing Guidelines) has taken up any Offer Shares for its own benefit under the Global Offering.
+The Directors confirm that immediately after the Global Offering, (i) no placee will, individually,
+be placed more than 10% of the enlarged issued share capital of the Company, (ii) there will not
+be any new substantial shareholder (as defined in the Listing Rules) of the Company, (iii) the
+three largest public Shareholders do not hold more than 50% of the shares held 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.
+The Directors confirm that, to the best of their knowledge, information and belief and having
+made all reasonable enquiries, no Offer Shares under the International Offering have been
+allocated to placees who are Directors, chief executive, substantial Shareholders or existing
+Shareholders of the Company or any of its subsidiaries or their respective close associates within
+the meaning of the Listing Rules, whether in their own names or through nominees, and that all
+placees and the public who have subscribed for the Offer Shares and their beneficial owners are
+independent of and not connected with the Company.
+
+
+--- page 3 ---
+5
+Confirmations of Public Shareholders in the Hong Kong Public Offering and Placees in the
+International Offering
+• To the best knowledge, information and belief of the Directors, no Offer Shares placed
+by or through the Sole Overall Coordinator, the Joint Global Coordinators, the Joint
+Bookrunners, the Joint Lead Managers, the CMIs or the Underwriters under the Global
+Offering have been placed with applicants who are core connected persons (as defined in
+the Listing Rules) of the Company, or to any connected clients (as set out in paragraph
+5(1) of the Placing Guidelines), or persons set out in paragraph 5(2) of the Placing
+Guidelines, whether in their own names or through nominees. The International Offering is
+in compliance with the Placing Guidelines.
+• The Directors confirm that, to the best of their knowledge, information and belief, (i) none
+of the Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering
+and placees in the International Offering has been financed directly or indirectly by the
+Company, the Directors, chief executive, substantial Shareholders or existing Shareholders
+of the Company or any of its subsidiaries or their respective close associates; (ii) no
+rebate has been, directly or indirectly, provided by the Company, the Directors, chief
+executive, substantial Shareholders or existing Shareholders of the Company or any of its
+subsidiaries or their respective close associates or syndicate members or any other brokers
+or underwriters to any public Shareholders in the Hong Kong Public Offering or placees in
+the International Offering; (iii) none of the public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering who has subscribed for the Offer Shares
+is accustomed to taking instructions from the Company, the Directors, chief executive,
+substantial Shareholders or existing Shareholders of the Company or any of its subsidiaries
+or their respective close associates in relation to the acquisition, disposal, voting or other
+disposition of the Shares registered in his/her/its name or otherwise held by him/her/it; (iv)
+the consideration payable by the public Shareholders in the Hong Kong Public Offering and
+placees in the International Offering for each Share subscribed for or purchased by them is
+the same as the final Offer Price as determined by the Company, in additional to brokerage
+of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock
+Exchange trading fee of 0.00565%; and (v) there is no side agreement or arrangement
+between the Company, any of the Directors, chief executive, substantial Shareholders or
+existing Shareholders of the Company or any of its subsidiaries or their respective close
+associates or syndicate members or any other brokers or underwriters, on one hand, and the
+public subscribers or the placee who has subscribed for the Offer Shares, on the other hand.
+• The Directors confirm that, to the best of their knowledge and information, none of the
+placees under the International Placing will be placed more than 10% of the enlarged issued
+share capital of the Company immediately following completion of the Share Subdivision
+and the Global Offering. Accordingly, the Directors confirm that there will not be any new
+substantial Shareholder of the Company immediately following completion of the Share
+Subdivision and the Global Offering.
+
+
+--- page 4 ---
+6
+Over-allotment Option
+• The Sole Overall Coordinator confirmed that no over-allocation of International Offer
+Shares has been made and the stock borrowing agreement will not be entered into. In
+view of the fact that there has been no over-allocation in the International Offering, no
+stabilising action as described in the Prospectus will take place during the stabilisation
+period. As of the date of this announcement, the Over-allotment Option has not been
+exercised and the Over-allotment Option will be lapsed and will not be exercised as no
+over-allocation of the Offer Shares was made in the International Offering.
+Lock-up Undertakings
+• The Company, the Cornerstone Investors and certain existing Shareholders are subject to
+certain lock-up undertakings as set out in the paragraph headed “Lock-up Undertakings ” in
+this announcement.
+Results of Allocations
+• Results of allocations of the Hong Kong Offer Shares in the Hong Kong Public Offering,
+including the level of indications of interest in the International Offering, the level of
+applications in the Hong Kong Public Offering and the basis of allocation of the Hong
+Kong Offer Shares will be published on Wednesday, September 27, 2023 on the website of
+the Stock Exchange at www.hkexnews.hk and the Company ’s website at www.xikang.com .
+• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
+Offering successfully applied for through the White Form eIPO service or through the
+CCASS EIPO service, including the Hong Kong identity card numbers, passport numbers
+or Hong Kong business registration numbers of successful applicants (where applicable)
+and the number of Hong Kong Offer Shares, successfully applied for, will be made
+available at the times and dates and in the manner specified below:
+• in the announcement to be posted on the Company ’s website and the Stock
+Exchange ’s website at www.xikang.com and www.hkexnews.hk , respectively, by no
+later than 8:00 a.m. on Wednesday, September 27, 2023;
+• from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID ” function on a 24-
+hour basis from 8:00 a.m. on Wednesday, September 27, 2023 to 12:00 midnight on
+Tuesday, October 3, 2023;
+• from the allocation results telephone enquiry line by calling +852 2862 8555 between
+9:00 a.m. and 6:00 p.m. from Wednesday, September 27, 2023 to Tuesday, October 3,
+2023 (excluding Saturday, Sunday and public holiday).
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by White
+Form eIPO ” refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner
+identification codes (if such applications are made by nominees as agent for the benefit of
+another person) whereas those displayed in the section headed “Results of Applications
+Made by Giving Electronic Application Instructions to HKSCC via CCASS ” are provided
+by CCASS Participants via CCASS. Therefore, the identification document numbers shown
+in the two sections are different in nature.
+
+
+--- page 5 ---
+7
+Please note that the list of identification document numbers set out in this announcement
+may not be a complete list of successful applicants since only successful applicants whose
+identification document numbers are provided to HKSCC by CCASS Participants are
+disclosed. Applicants with beneficial names only but not identification document numbers
+are not disclosed due to personal privacy issue as elaborated below. Applicants who applied
+for the Hong Kong Offer Shares through their brokers can consult their brokers to enquire
+about their application results.
+Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications Made
+by Giving Electronic Application Instructions to HKSCC via CCASS ” are redacted and
+not all details of applications are disclosed in this announcement.
+Despatch/Collection of Share Certificates/e-Refund Payment Instructions/Refund Cheques
+• Applicants who applied for 1,000,000 Hong Kong Offer Shares or more through the White
+Form eIPO service and who have been successfully or partially successfully allocated
+Hong Kong Offer Shares and are eligible to collect Share certificates in person may
+collect Share certificates from the Hong Kong Share Registrar, Computershare Hong Kong
+Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen ’s
+Road East, Wanchai, Hong Kong from 9:00 a.m. to 1:00 p.m. on Wednesday, September
+27, 2023 or such other date as notified by the Company in the newspapers as the date of
+despatch/collection of Share certificates/e-Refund payment instructions/refund cheques.
+• Applicants being an individual who is eligible for personal collection must not authorize
+any other person to collect on their behalf. If you are a corporate applicant which is eligible
+for personal collection, your authorized representative must bear a letter of authorization
+from your corporation stamped with your corporation ’s chop. Both individuals and
+authorized representatives must produce evidence of identity acceptable to our Hong Kong
+Share Registrar at the time of collection.
+• Applicants who apply for less than 1,000,000 Hong Kong Offer Shares through the White
+Form eIPO service, will have their Share certificate(s) (where applicable) sent to the
+address specified in their application instructions on or before Wednesday, September 27,
+2023 by ordinary post and at their own risk.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their Share certificates issued in the name of
+HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS Investor
+Participant stock accounts or the stock accounts of their designated CCASS Participants
+who gave electronic application instructions on their behalf on Wednesday, September
+27, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them with that CCASS Participant.
+
+
+--- page 6 ---
+8
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS may also check the number of Hong Kong Offer
+Shares allocated to them and the amount of refund monies (if any) payable to them
+via the CCASS Phone System at +852 2979 7888 and the CCASS Internet System
+at http://ip.ccass.com (under the procedures contained in HKSCC ’s “An Operating Guide
+for Investor Participants ” in effect from time to time). Immediately after the crediting of
+the Hong Kong Offer Shares to the CCASS Investor Participant stock accounts and the
+credit of refund monies to the CCASS Investor Participants bank accounts, HKSCC will
+also make available to the CCASS Investor Participants an activity statement showing the
+amount of Hong Kong Offer Shares credited to their CCASS Investor Participant stock
+accounts and the refund amount credited to their respective designated bank accounts (if
+any).
+• Refund monies for applicants who have applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their brokers or custodians on
+Wednesday, September 27, 2023.
+• Share certificates will only become valid evidence of title at 8:00 a.m. on Thursday,
+September 28, 2023, provided that the Global Offering has become unconditional in
+all respects and neither the Hong Kong Underwriting Agreement nor the International
+Underwriting Agreement has been terminated in accordance with their respective terms at
+or before that time. Investors who trade Shares on the basis of publicly available allocation
+details before the receipt of the Share certificates or before the Share certificates becoming
+valid evidence of title do so entirely at their own risk.
+• The Company will not issue any temporary documents of title in respect of the Offer
+Shares and will not issue any receipt for application monies received.
+Public Float
+• 264,834,290 Shares, representing approximately 31.46% of the total issued share capital of
+the Company will be held on the hands of the public immediately following the completion
+of the Global Offering. Accordingly, the number of Shares in public hands represents
+no less than 25% of the total issued share capital of the Company as required under
+Rule 8.08(1)(a) of the Listing Rules. The Directors confirm that the three largest public
+Shareholders do not hold more than 50% of the Shares held in public hands at the time of
+the Listing in compliance with Rules 8.08(3) of the Listing Rules. The Directors confirm
+that 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
+• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
+a.m. on Thursday, September 28, 2023 (Hong Kong time), dealings in the Shares on the
+Stock Exchange are expected to commence at 9:00 a.m. on Thursday, September 28, 2023
+(Hong Kong time). The Shares will be traded in board lots of 500 Shares each. The stock
+code of the Shares is 9686.
+In view of the 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 Shares.
+
+
+--- page 7 ---
+9
+OFFER PRICE
+The Offer Price has been determined at HK$4.76 per Offer Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
+fee of 0.00565%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$4.76 per Offer Share, the net proceeds from the Global Offering
+to be received by the Company, after deduction of the underwriting fees and commissions and
+the other estimated expenses payable by the Company in connection with the Global Offering,
+are estimated to be approximately HK$554.5 million. The estimated total listing expenses are
+approximately HK$82.4 million, or 12.9% of the gross proceeds of the Global Offering, comprising
+HK$21.6 million underwriting related expenses, HK$40.2 million fees and expenses of legal
+advisors and Reporting Accountants, and HK$20.6 million other fees and expenses. The Company
+intends to use the net proceeds from the Global Offering in the manner as set out in the paragraph
+headed “Net Proceeds from the Global Offering ” in this announcement.
+As no over-allocation of International Offer Shares has been made, the Over-allotment Option has
+not been and will not be exercised, and no additional proceeds are expected to be received by the
+Company in this connection.
+The Company intends to apply the net proceeds as follows:
+(i) Approximately 30% of the net proceeds, or HK$166.3 million, for expansion of city-
+specific cloud hospital platforms to enlarge our medical networks and user base. We plan
+to further expand our cloud hospital network to new cities and enrich our service offerings
+and capabilities on our existing city-specific cloud hospital platforms, thereby enlarging
+our network of medical institutions and attracting new and maintaining existing users. In
+particular, we plan to allocate:
+• approximately 12% of the net proceeds, or HK$66.5 million, in the next three to five
+years, for increasing penetration of our city-specific cloud hospital platforms to more
+cities such as the Yangtze River Delta, Pearl River Delta, the Beijing-Tianjin-Hebei
+Metropolitan Region, and Central and Western China;
+• approximately 18% of the net proceeds, or HK$99.8 million, in the next three to five
+years, for strengthening our business development capabilities and designing, promoting
+and implementing cloud hospital platforms, to attract more medical institutions, in
+particular large hospitals;
+
+
+--- page 8 ---
+10
+(ii) Approximately 25% of the net proceeds, or HK$138.6 million, for enriching our offerings
+across the industry value chain to provide more professional and diversified healthcare
+services. We aim to further strengthen our collaborations with medical specialists of different
+areas at top medical institutions, and enhance and diversify our medical specialty-based
+service offerings to address the diversified needs of patients, thereby further improving their
+experience and enlarging the user base of our cloud hospital platforms. In particular, we plan
+to allocate:
+• approximately 10% of the net proceeds, or HK$55.4 million, in the next three to five
+years, for enhancing our collaborations with renowned medical specialists and medical
+groups to develop more medical specialty-based solutions and services, and recruiting
+professional operations talents to promote and market our medical specialty-based
+service offerings;
+• approximately 15% of the net proceeds, or HK$83.2 million, in the next three to five
+years, for diversifying service offerings to end patients and healthcare consumers and
+increasing efforts to market and promote our brand and raise awareness of our service
+offerings, to improve user stickiness and recognition of our cloud hospital platforms;
+(iii) Approximately 25% of the net proceeds, or HK$138.6 million, for research and development
+on technology infrastructure and data capabilities. We plan to continually improve the
+technology infrastructure of our platforms and our data processing and security capabilities.
+We intend to increase investments in research and development to enhance the security,
+reliability and flexibility of our cloud hospital platforms. We also intend to continually
+integrate big data analytics, AI and blockchain technology to our platforms to further enhance
+our service capabilities. In particular, we plan to allocate:
+• Approximately 10% of the net proceeds, or HK$55.4 million, in the next three to five
+years, for continuously investing in and upgrading our cloud-based infrastructure.
+We intend to upgrade our cloud-based infrastructure through enhancing its security,
+reliability and flexibility via integration of advanced technology;
+• Approximately 10% of the net proceeds, or HK$55.4 million, in the next three to five
+years, for recruiting and training top engineers and technical experts, and purchasing
+and integrating third-party technology, to continuously reinforce our data analytical
+capabilities, including big data and AI. In particular, we intend to recruit approximately
+100 top engineers and technical experts;
+• Approximately 5% of the net proceeds, or HK$27.7 million, in the next three to five
+years, for development and application of technology to our cloud hospital platforms to
+improve our medical service quality controls and data security capabilities;
+(iv) Approximately 10% of the net proceeds, or HK$55.4 million, in the next three to five years,
+for potential mergers and acquisitions opportunities. We plan to enrich the healthcare service
+offerings on our platforms through strategic cooperation and mergers and acquisitions, so as
+to create additional value for stakeholders of the healthcare system;
+(v) Approximately 10% of the net proceeds, or HK$55.4 million, will be used for our working
+capital and general corporate purposes.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
+the Prospectus.
+
+
+--- page 9 ---
+11
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
+PUBLIC OFFERING
+The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have been
+under-subscribed. At the close of the application lists at 12:00 noon on Thursday, September 21,
+2023, a total of 2,299 valid applications have been received pursuant to the Hong Kong Public
+Offering through the White Form eIPO service and through the CCASS EIPO service for a total
+of 11,995,500 Hong Kong Offer Shares, representing approximately 0.9 times of the total number
+of 13,381,000 Hong Kong Offer Shares initially available for subscription under the Hong Kong
+Public Offering, among which:
+• 2,297 valid applications in respect of a total of 6,995,500 Hong Kong Offer Shares were
+for the Hong Kong Public Offering with an aggregate subscription amount based on the
+maximum Offer Price of HK$5.91 per Offer Share (excluding brokerage of 1%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%) of HK$5 million or less, representing approximately 1.05 times of
+the 6,690,500 Hong Kong Offer Shares initially comprised in Pool A; and
+• 2 valid applications in respect of a total of 5,000,000 Hong Kong Offer Shares were for the
+Hong Kong Public Offering with an aggregate subscription amount based on the maximum
+Offer Price of HK$5.91 per Offer Share (excluding brokerage of 1%, SFC transaction levy of
+0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%)
+of more than HK$5 million, representing approximately 0.75 times of the 6,690,500 Hong
+Kong Offer Shares initially comprised in Pool B.
+No application has been rejected due to invalid application. No multiple or suspected multiple
+applications has been identified and rejected. No application has been rejected due to dishonored
+payment. No application for more than 6,690,500 Hong Kong Offer Shares (being 50% of the Hong
+Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
+Due to the under-subscription in the Hong Kong Public Offering, the reallocation procedures as
+described in the section headed “Structure of the Global Offering ” in the Prospectus have been
+effected, and total number of 1,385,500 Hong Kong Offer Shares have been reallocated from the
+Hong Kong Public Offering to the International Offering, representing approximately 1.04% of
+the total number of Offer Shares initially available under the Global Offering. As a result of such
+reallocation, the final number of Offer Shares allocated to the Hong Kong Public Offering has
+been reduced to 11,995,500 Offer Shares, representing 8.96% of the total number of Offer Shares
+initially available under the Global Offering. The Sole Sponsor and the Sole Overall Coordinator
+and each of the Directors confirm that the Allocation Cap has not been exceeded.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the paragraph headed “Basis of Allocation under the Hong Kong Public Offering ”
+below.
+
+
+--- page 10 ---
+12
+INTERNATIONAL OFFERING
+The Offer Shares initially offered under the International Offering have been slightly over-
+subscribed by approximately 1.15 times of the total number of Offer Shares initially available
+under the International Offering. The final number of Offer Shares under the International Offering
+is 121,810,000 Shares, representing approximately 91.04% of the total number of Offer Shares
+initially available under the Global Offering. There has been no over-allocation in the International
+Offering.
+There are a total number of 106 placees under the International Offering, among which (i) 96
+placees, representing 90.57% of the total number of placees under the International Offering,
+have been allotted five or fewer board lots of Offer Shares, totaling 49,500 Shares, representing
+0.04% of the total number of Offer Shares available under the International Offering; and (ii) 94
+placees have been allotted one board lot of Offer Shares, representing approximately 88.68% of
+the total number of placees under the International Offering, totalling 47,000 Shares, representing
+approximately 0.04% of the total number of the Offer Shares available under the International
+Offering.
+To the best knowledge, information and belief of the Directors, no Offer Shares placed by or
+through the Sole Overall Coordinator, the Joint Global Coordinators, the Joint Bookrunners, the
+Joint Lead Managers, the CMIs or the Underwriters under the Global Offering have been placed
+with applicants who are core connected persons (as defined in the Listing Rules) of the Company,
+or to any connected clients (as set out in paragraph 5(1) of the Placing Guidelines), whether in
+their own names or through nominees. The International Offering is in compliance with the Placing
+Guidelines.
+Cornerstone Investors
+Based on the Offer Price of HK$4.76 per Offer Share (exclusive of brokerage of 1%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee
+of 0.00565%) and pursuant to the Cornerstone Investment Agreements as disclosed in the section
+headed “Cornerstone Investors ” in the Prospectus, the number of Offer Shares subscribed for by
+the Cornerstone Investors is determined as set out below:
+Cornerstone Investor
+Investment
+Amount
+Number of
+Offer Shares
+Approximate
+% of total
+number of
+Offer Shares
+Approximate
+% of total
+Shares in issue
+immediately
+following
+completion
+of Global
+Offering
+(US$ in million) (rounded
+down to
+nearest
+whole board
+lot of 500
+Shares)
+Ningbo Industrial Fund 7.65 12,594,000 9.41% 1.50%
+Haishu Investment 7.65 12,594,000 9.41% 1.50%
+INFO EXPERT 13.00 21,404,000 16.00% 2.54%
+Total 28.30 46,592,000 34.82% 5.53%
+Note:
+(1) The percentage figures set out in the table above are subject to rounding adjustments.
+
+
+--- page 11 ---
+13
+To the best of the knowledge, information and belief of the Company, (i) the Cornerstone
+Investors and the respective qualified domestic institutional investors are independent of the
+Company, its connected persons and their respective associates; (ii) none of the Cornerstone
+Investor is accustomed to take and has not taken instructions from the Company, the Directors,
+chief executive, substantial Shareholders or existing Shareholders of the Company or any of its
+subsidiaries or their respective close associates in relation to the acquisition, disposal, voting or
+other disposition of the Offer Shares; (iii) none of the subscription of the Offer Shares by the
+Cornerstone Investors is financed by the Company, the Directors, chief executive, substantial
+Shareholders or existing Shareholders of the Company or any of its subsidiaries or their respective
+close associates; and (iv) the Cornerstone Investors make independent investment decisions, and
+their subscription under the Cornerstone Investment Agreements would be financed by their own
+internal resources.
+Each of the Cornerstone Investor has confirmed that all necessary approvals have been obtained
+with respect to the Cornerstone Placing, and that no specific approval from any stock exchange (if
+relevant) or its shareholders is required for the relevant cornerstone investment.
+The Cornerstone Placing will form part of the International Offering, and the Cornerstone Investors
+will not acquire any Offer Shares under the Global Offering other than pursuant to the Cornerstone
+Investment Agreements. The Offer Shares to be subscribed by the Cornerstone Investors will rank
+pari passu in all respect with the fully paid Shares in issue and will be counted towards the public
+float of our Company under Rule 8.08 of the Listing Rules. Immediately following the completion
+of the Global Offering, none of the Cornerstone Investors will have any Board representation in
+our Company; and none of the Cornerstone Investors will become a substantial shareholder of our
+Company. The Cornerstone Investors do not have any preferential rights under the Cornerstone
+Investment Agreements compared with other public Shareholders, other than a guaranteed
+allocation of the relevant Offer Shares at the Offer Price.
+There are no side arrangements between our Company and the Cornerstone Investors or any
+benefit, direct or indirect, conferred on the Cornerstone Investors by virtue of or in relation to the
+Cornerstone Placing. There will be no delayed delivery or deferred settlement of Offer Shares to be
+subscribed by the Cornerstone Investors pursuant to the Cornerstone Investment Agreements and
+the payment for the Offer Shares subscribed by the Cornerstone Investors will be settled and paid
+in full before dealings in the Offer Shares commence on the Stock Exchange.
+Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at any
+time during the period of twelve months from the Listing Date, dispose of any of the Offer Shares
+they have purchased pursuant to the relevant Cornerstone Investment Agreement, save for certain
+limited circumstances, such as transfers to any of its wholly-owned subsidiaries who will be bound
+by the same obligations of such Cornerstone Investor, including such lock-up period restriction.
+Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further details
+relating to the Cornerstone Investors.
+
+
+--- page 12 ---
+14
+Compliance with Placing Guidelines of the Listing Rules
+We confirm that, to the best of our knowledge, information and belief, no Offer Shares placed
+by or through the Sole Overall Coordinator, Joint Global Coordinators, the Joint Bookrunners,
+the Joint Lead Managers, the CMIs or the Underwriters under the Global Offering have been
+placed with (i) any core connected persons of the Company, (ii) any existing Shareholders of
+the Company, or (iii) their respective close associates whether in their own names or through
+nominees.
+None of the Sole Sponsor, the Sole Overall Coordinator, the Joint Global Coordinators, the Joint
+Bookrunners, the Joint Lead Managers, the CMIs, the Underwriters and their respective affiliated
+companies and connected clients of the lead broker or of any distributors (as defined in the Placing
+Guidelines) has taken up any Offer Shares for its own benefit under the Global Offering.
+The Directors confirm that immediately after the Global Offering, (i) no placee will, individually,
+be placed more than 10% of the enlarged issued share capital of the Company, (ii) there will not
+be any new substantial shareholder (as defined in the Listing Rules) of the Company, (iii) the three
+largest public Shareholders do not hold more than 50% of the shares held 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.
+The Directors confirm that, to the best of their knowledge, information and belief and having made
+all reasonable enquiries, no Offer Shares under the International Offering have been allocated to
+placees who are Directors, chief executive, substantial Shareholders or existing Shareholders of the
+Company or any of its subsidiaries or their respective close associates within the meaning of the
+Listing Rules, whether in their own names or through nominees, and that all placees and the public
+who have subscribed for the Offer Shares and their beneficial owners are independent of and not
+connected with the Company.
+
+
+--- page 13 ---
+15
+Confirmations of Public Shareholders in the Hong Kong Public Offering and Placees in the
+International Offering
+To the best knowledge, information and belief of the Directors, no Offer Shares placed by or
+through the Sole Overall Coordinator, the Joint Global Coordinators, the Joint Bookrunners, the
+Joint Lead Managers, the CMIs and the Underwriters under the Global Offering have been placed
+with any core connected person (as defined in the Listing Rules) of the Company, or any connected
+clients (as set out in paragraph 5(1) of the Placing Guidelines) or persons set out in paragraph 5(2)
+of the Placing Guidelines, whether in their own names or through nominees. The International
+Offering is in compliance with the Placing Guidelines.
+The Directors confirm that, to the best of their knowledge, information and belief, (i) none of the
+Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering and placees in
+the International Offering has been financed directly or indirectly by the Company, the Directors,
+chief executive, substantial Shareholders or existing Shareholders of the Company or any of its
+subsidiaries or their respective close associates; (ii) no rebate has been, directly or indirectly,
+provided by the Company, the Directors, chief executive, substantial Shareholders or existing
+Shareholders of the Company or any of its subsidiaries or their respective close associates or
+syndicate members or any other brokers or underwriters to any public Shareholders in the Hong
+Kong Public Offering or placees in the International Offering; (iii) none of the public Shareholders
+in the Hong Kong Public Offering and placees in the International Offering who has subscribed
+for the Offer Shares is accustomed to taking instructions from the Company, the Directors,
+chief executive, substantial Shareholders or existing Shareholders of the Company or any of its
+subsidiaries or their respective close associates in relation to the acquisition, disposal, voting
+or other disposition of the Shares registered in his/her/its name or otherwise held by him/her/it;
+(iv) the consideration payable by the public Shareholders in the Hong Kong Public Offering and
+placees in the International Offering for each Share subscribed for or purchased by them is the
+same as the final Offer Price as determined by the Company, in additional to brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
+fee of 0.00565%; and (v) there is no side agreement or arrangement between the Company, any of
+the Directors, chief executive, substantial Shareholders or existing Shareholders of the Company
+or any of its subsidiaries or their respective close associates or syndicate members or any other
+brokers or underwriters, on one hand, and the public subscribers or the placee who has subscribed
+for the Offer Shares, on the other hand.
+The Directors confirm that, to the best of their knowledge and information, none of the placees
+under the International Placing will be placed more than 10% of the enlarged issued share capital
+of the Company immediately following completion of the Share Subdivision and the Global
+Offering. Accordingly, the Directors confirm that there will not be any new substantial Shareholder
+of the Company immediately following completion of the Share Subdivision and the Global
+Offering.
+Over-allotment Option
+The Sole Overall Coordinator confirmed that no over-allocation of International Offer Shares has
+been made and the stock borrowing agreement will not be entered into. In view of the fact that
+there has been no over-allocation in the International Offering, no stabilising action as described in
+the Prospectus will take place during the stabilisation period. As of the date of this announcement,
+the Overallotment Option has not been exercised and the Over-allotment Option will be lapsed
+and will not be exercised as no over-allocation of the Offer Shares was made in the International
+Offering.
+
+
+--- page 14 ---
+16
+LOCK-UP UNDERTAKINGS
+The Company, the Cornerstone Investors and certain existing Shareholders have given certain
+undertakings in relation to the issue or disposal of Shares (the “Lock-up Undertakings ”),
+respectively. The major terms of the Lock-Up Undertakings are set out as follows:
+Name
+Number of
+Lock-up Shares
+held in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing
+Percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing (1)
+Last day subject
+to the Lock-up
+Undertakings
+The Company (subject to lock-up obligations pursuant
+to the Listing Rules and the Hong Kong Underwriting
+Agreement)
+N/A N/A March 27, 2024 (2)
+Certain existing Shareholders (subject to lock-up
+ obligations pursuant to separate lock-up undertakings)
+Neusoft (HK) (3) 199,213,210 23.66% March 27, 2024
+Smartwave (3) 76,500,000 8.88% March 27, 2024
+Dongkong International Fifth (3) 68,384,305 8.12% March 27, 2024
+Dongkong International Seventh (3) 22,100,000 2.63% March 27, 2024
+KangRich (3) 22,145,000 2.63% March 27, 2024
+Kingset Ventures (3) 86,700,000 10.30% March 27, 2024
+First Care (3) 64,728,790 7.69% March 27, 2024
+Syn Invest (3) 42,500,000 5.05% March 27, 2024
+Alps Alpine (3) 6,800,000 0.81% March 27, 2024
+Subtotal 589,071,305 69.97%
+Cornerstone Investors (subject to lock-up obligations
+ pursuant to the Cornerstone Investment Agreements)
+Ningbo Industrial Fund (4) 12,594,000 1.50% September 27, 2024
+Haishu Investment (4) 12,594,000 1.50% September 27, 2024
+INFO EXPERT (4) 21,404,000 2.54% September 27, 2024
+Subtotal 46,592,000 5.53%
+Notes:
+(1) Assuming the options granted under the Pre-IPO SOS are not exercised, and no options are granted under the
+Post-IPO SOS.
+(2) The Company may issue Shares without any lock-up obligation after the indicated date.
+(3) After the date indicated, the respective lock-up undertaking shall no longer apply and the relevant Shareholders
+shall be entitled to deal in the Shares without being subject to the same.
+(4) The number of Shares set out here only took into account the number of Shares acquired under the relevant
+Cornerstone Investment Agreements.
+(5) The percentage figures set out in the table above are subject to rounding adjustments.
+
+
+--- page 15 ---
+17
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure of the
+Global Offering { Conditions of the Global Offering ” in the Prospectus, 2,299 valid applications
+made by the public through the White Form eIPO service and the CCASS EIPO service will be
+conditionally allocated on the basis set out below:
+Number of
+Shares
+applied for
+Number
+of valid
+applications Basis of allotment/ballot
+Approximate
+percentage
+allotted of
+the total
+number
+of Shares
+applied for
+POOL A
+500 1,423 500 Shares 100.00%
+1,000 190 1,000 Shares 100.00%
+1,500 297 1,500 Shares 100.00%
+2,000 65 2,000 Shares 100.00%
+2,500 32 2,500 Shares 100.00%
+3,000 20 3,000 Shares 100.00%
+3,500 19 3,500 Shares 100.00%
+4,000 9 4,000 Shares 100.00%
+4,500 4 4,500 Shares 100.00%
+5,000 54 5,000 Shares 100.00%
+6,000 14 6,000 Shares 100.00%
+7,000 5 7,000 Shares 100.00%
+8,000 59 8,000 Shares 100.00%
+9,000 8 9,000 Shares 100.00%
+10,000 23 10,000 Shares 100.00%
+15,000 13 15,000 Shares 100.00%
+20,000 15 20,000 Shares 100.00%
+25,000 3 25,000 Shares 100.00%
+30,000 18 30,000 Shares 100.00%
+35,000 9 35,000 Shares 100.00%
+40,000 1 40,000 Shares 100.00%
+50,000 6 50,000 Shares 100.00%
+60,000 1 60,000 Shares 100.00%
+80,000 1 80,000 Shares 100.00%
+90,000 1 90,000 Shares 100.00%
+100,000 2 100,000 Shares 100.00%
+200,000 1 200,000 Shares 100.00%
+400,000 3 400,000 Shares 100.00%
+500,000 1 500,000 Shares 100.00%
+2,297 Total number of Pool A successful applicants: 2,297
+
+
+--- page 16 ---
+18
+Number of
+Shares
+applied for
+Number
+of valid
+applications Basis of allotment/ballot
+Approximate
+percentage
+allotted of
+the total
+number
+of Shares
+applied for
+POOL B
+2,000,000 1 2,000,000 Shares 100.00%
+3,000,000 1 3,000,000 Shares 100.00%
+2 Total number of Pool B successful applicants: 2
+
+The final number of Offer Shares under the Hong Kong Public Offering is 11,995,500 Offer
+Shares, representing approximately 8.96% of the total number of Offer Shares initially available
+under the Global Offering.
+RESULTS OF ALLOCATIONS
+Results of allocations of the Hong Kong Offer Shares in the Hong Kong Public Offering,
+including the level of indications of interest in the International Offering, the level of applications
+in the Hong Kong Public Offering and the basis of allocation of the Hong Kong Offer Shares
+will be published on Wednesday, September 27, 2023 on the website of the Stock Exchange at
+www.hkexnews.hk and the Company ’s website at www.xikang.com .
+The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the White Form eIPO service or through the CCASS EIPO
+service, including the Hong Kong identity card numbers, passport numbers or Hong Kong business
+registration numbers of successful applicants (where applicable) and the number of the Hong Kong
+Offer Shares successfully applied for, will be made available at the times and dates and in the
+manner specified below:
+• in the announcement to be posted on the Company ’s website and the Stock Exchange ’s
+website at https://www.xikang.com and www.hkexnews.hk , respectively, by no later than
+8:00 a.m. on Wednesday, September 27, 2023;
+• from the designated results of allocations website at www.iporesults.com.hk
+(alternatively: English https://www.eipo.com.hk/en/Allotment ; Chinese
+https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID ” function on a 24-hour
+basis from 8:00 a.m. on Wednesday, September 27, 2023 to 12:00 midnight on Tuesday,
+October 3, 2023; and
+• from the allocation results telephone enquiry line by calling +852 2862 8555 between 9:00
+a.m. and 6:00 p.m. from Wednesday, September 27, 2023 to Tuesday, October 3, 2023
+(excluding Saturday, Sunday and public holiday).
+
+
+--- page 17 ---
+19
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO ” refer
+to Hong Kong identity card numbers/passport numbers/Hong Kong business registration numbers/
+certificate of incorporation numbers/beneficial owner identification codes (if such applications
+are made by nominees as agent for the benefit of another person) whereas those displayed in the
+section headed “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are provided by CCASS Participants via CCASS. Therefore, the
+identification document numbers shown in the two sections are different in nature.
+Please note that the list of identification document numbers set out in this announcement may not
+be a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants are disclosed. Applicants with
+beneficial names only but not identification document numbers are not disclosed due to personal
+privacy issue as elaborated below. Applicants who applied for the Hong Kong Offer Shares
+through their brokers can consult their brokers to enquire about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by Giving
+Electronic Application Instructions to HKSCC via CCASS ” are redacted and not all details of
+applications are disclosed in this announcement.
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee (1) Subscription
+Shares held
+following
+the Global
+Offering
+Subscription
+as % of
+International
+Placing
+Shares
+Subscription
+as % of total
+Offer Shares
+% of the total
+issued Shares
+Top 1 25,188,000 25,188,000 20.68% 18.82% 2.99%
+Top 5 101,672,000 101,672,000 83.47% 75.98% 12.08%
+Top 10 121,760,500 121,760,500 99.96% 91.00% 14.46%
+Top 20 121,767,000 121,767,000 99.96% 91.00% 14.46%
+Top 25 121,769,500 121,769,500 99.97% 91.00% 14.46%
+Note:
+(1) The subscriptions made by Ningbo Industrial Fund and Haishu Investment are aggregated as subscription
+from one placee.
+
+
+--- page 18 ---
+20
+• Top 1, 5, 10, 20 and 25 of Shareholders upon Listing:
+Shareholder(s) (1) Subscription
+Shares held
+following
+the Global
+Offering
+Subscription
+as % of
+International
+Placing
+Shares (2)
+Subscription
+as % of total
+Offer Shares
+% of the total
+issued Shares
+Top 1 – 199,213,210 – 0.00% 23.66%
+Top 5 – 619,626,305 – 0.00% 73.60%
+Top 10 69,223,000 753,494,305 56.83% 51.73% 89.50%
+Top 20 127,329,500 835,400,805 99.69% 95.16% 99.23%
+Top 25 128,594,500 836,665,805 99.82% 96.11% 99.38%
+Notes:
+(1) The subscriptions made by Ningbo Industrial Fund and Haishu Investment are aggregated as subscription
+from one placee.
+(2) Represents the subscription level as a percentage of the total number of Shares allocated under the
+International Offering without taking into account the subscription by successful applicants under the
+Hong Kong Public Offering.
+In view of the 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 trade and should exercise extreme
+caution when dealing in Shares.
diff --git a/data/extracted_text/09690/allotment_results_summary_2023-09-25_2023092500014.txt b/data/extracted_text/09690/allotment_results_summary_2023-09-25_2023092500014.txt
new file mode 100644
index 0000000..b990217
--- /dev/null
+++ b/data/extracted_text/09690/allotment_results_summary_2023-09-25_2023092500014.txt
@@ -0,0 +1,1221 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF FINAL OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Final Offer Price
+• The final Offer Price has been determined at HK$28.00 per Offer Share (exclusive of
+brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015%
+and Stock Exchange trading fee of 0.00565%).
+Offer Size Adjustment Option
+• The Offer Size Adjustment Option was exercised in part, pursuant to which the Company
+is issuing and allotting 1,827,700 additional Offer Shares, representing approximately 4.5%
+of the total number of Offer Shares initially available under the Global Offering, at the final
+Offer Price.
+• Accordingly, the total number of Offer Shares finally available under the Global Offering
+(taking into account of the partial exercise of the Offer Size Adjustment Option and before
+any exercise of the Over-allotment Option) that may be allotted and issued by the Company
+is 42,444,800 Offer Shares and the total issued share capital of the Company upon Listing
+(taking into account of the partial exercise of the Offer Size Adjustment Option and before
+any exercise of the Over-allotment Option and assuming no Shares are issued under the
+Equity Incentive Schemes) will be 814,371,439 Shares.
+Net Proceeds from the Global Offering
+• Based on the final Offer Price of HK$28.00 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting commissions
+and other estimated offering expenses paid and payable by the Company in connection
+with the Global Offering and taking into account of the partial exercise of the Offer Size
+Adjustment Option and before any exercise of the Over-allotment Option, are estimated to
+be approximately HK$1,081 million. The Company intends to use the net proceeds from
+the Global Offering in accordance with the purposes as set out in the section headed “Net
+Proceeds from the Global Offering” in this announcement.
+• If the Over-allotment Option is exercised in full, the Company will receive additional
+net proceeds of approximately HK$173 million for 6,366,700 additional Offer Shares to
+be issued and allotted upon the exercise of the Over-allotment Option, after deduction of
+the underwriting commissions and other estimated offering expenses paid and payable by
+the Company in connection with the Global Offering. The allocation of the additional net
+proceeds will be adjusted on a pro rata basis according to the use of proceeds as set out in the
+section headed “Net Proceeds from the Global Offering” in this announcement, in the event
+that the Over-allotment Option is exercised.
+
+
+--- page 2 ---
+4
+Applications and Indications of Interest Received
+Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been over-subscribed. A total of 9,305 valid applications have been received pursuant to the
+Hong Kong Public Offering (being applications made through the White Form eIPO service
+or the CCASS EIPO service) for a total of 10,854,400 Hong Kong Offer Shares, representing
+approximately 2.67 times of the total number of 4,061,800 Hong Kong Offer Shares initially
+available for subscription under the Hong Kong Public Offering.
+• As the over-subscription in the Hong Kong Public Offering is less than 15 times of the
+number of Hong Kong Offer Shares initially available under the Hong Kong Public
+Offering, the reallocation procedures as described in the section headed “Structure of the
+Global Offering — The Hong Kong Public Offering — Reallocation and Clawback” in the
+Prospectus have not been applied.
+• Due to the partial exercise of the Offer Size Adjustment Option, the final number of Offer
+Shares under the Hong Kong Public Offering is 4,244,500 Offer Shares, representing 10%
+of the Offer Shares under the Global Offering, and being allocated to 9,305 successful
+applicants under the Hong Kong Public Offering.
+International Offering
+• The Offer Shares initially offered under the International Offering were moderately over-
+subscribed. A total of 83,304,825 Offer Shares under the International Offering (including the
+subscription by the Cornerstone Investors) have been subscribed, representing approximately
+2.3 times of the total number of Offer Shares initially available under the International Offering.
+• Due to the partial exercise of the Offer Size Adjustment Option, the final number of Offer
+Shares under the International Offering is 38,200,300 Offer Shares, representing 90% of the
+Offer Shares under the Global Offering. There has been an over-allocation of 6,366,700 Offer
+Shares. Please refer to the section headed “Applications and Indications of Interest Received
+— International Offering — Over-allotment Option” in this announcement.
+• There are a total of 140 placees under the International Offering.
+• A total of 105 placees have been allotted four board lots of Offer Shares or less, representing
+approximately 75.00% of 140 placees under the International Offering. These placees have
+been allotted 15,600 Offer Shares, representing approximately 0.04% of the Offer Shares
+available under the International Offering (taking into account of the partial exercise of the
+Offer Size Adjustment Option and before any exercise of the Over-allotment Option).
+
+
+--- page 3 ---
+5
+• A total of 102 placees have been allotted three board lots of Offer Shares or less, representing
+approximately 72.86% of 140 placees under the International Offering. These placees have
+been allotted 14,400 Offer Shares, representing approximately 0.04% of the Offer Shares
+available under the International Offering (taking into account of the partial exercise of the
+Offer Size Adjustment Option and before any exercise of the Over-allotment Option).
+• A total of 95 placees have been allotted two board lots of Offer Shares or less, representing
+approximately 67.86% of 140 placees under the International Offering. These placees have
+been allotted 12,300 Offer Shares, representing approximately 0.03% of the Offer Shares
+available under the International Offering (taking into account of the partial exercise of the
+Offer Size Adjustment Option and before any exercise of the Over-allotment Option).
+• A total of 67 placees have been allotted one board lots of Offer Shares, representing
+approximately 47.86% of 140 placees under the International Offering. These placees have
+been allotted 6,700 Offer Shares, representing approximately 0.02% of the Offer Shares
+available under the International Offering (taking into account of the partial exercise of the
+Offer Size Adjustment Option and before any exercise of the Over-allotment Option).
+Cornerstone Investors
+• Based on the final Offer Price of HK$28.00 per Offer Share (exclusive of brokerage
+of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565%
+and AFRC transaction levy of 0.00015%) and pursuant to the Cornerstone Investment
+Agreements as disclosed in the section headed “Cornerstone Investors” in the Prospectus, the
+Cornerstone Investors have subscribed for a total of 28,021,300 Offer Shares, representing (i)
+approximately 66.0% of the Offer Shares under the Global Offering; and (ii) approximately
+3.4% of the total issued share capital of the Company upon Listing (taking into account of
+the partial exercise of the Offer Size Adjustment Option and before any exercise of the Over-
+allotment Option, and assuming no Shares are issued under the Equity Incentive Schemes).
+Please refer to the section headed “Applications and Indications of Interest Received —
+International Offering — Cornerstone Investors” in this announcement for details relating to
+the subscription by the Cornerstone Investors.
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted
+to the Company, a waiver from strict compliance with the requirements under Rules 9.09(b)
+and 10.04 of, and a consent under paragraph 5(2) of Appendix 6 to, the Listing Rules (the
+“Placing Guidelines ”), to permit the Company to allocate the Offer Shares in the Global
+Offering to Image Frame Investment (HK) Limited, an existing Shareholder of the Company,
+as a Cornerstone Investor. Please refer to the sections headed “Waivers and Exemptions”
+and “Cornerstone Investors” in the Prospectus, and the section headed “Applications and
+Indications of Interest Received — International Offering — Cornerstone Investors” in this
+announcement for further details.
+
+
+--- page 4 ---
+6
+Placees with Waiver/Consent from the Stock Exchange
+Connected Client as a Placee with the Consent under Paragraph 5(1) of the Placing Guidelines
+• Under the International Offering, a total of 4,171,400 Offer Shares were placed to a
+connected client, namely Orient Asset Management (Hong Kong) Limited (“ Orient AM ”),
+within the meaning of the Placing Guidelines, representing (i) approximately 9.8% of the
+Offer Shares under the Global Offering; and (ii) approximately 0.5% of the total issued share
+capital of the Company upon Listing (taking into account of the partial exercise of the Offer
+Size Adjustment Option and before any exercise of the Over-allotment Option, and assuming
+no Shares are issued under the Equity Incentive Schemes). The connected client will hold the
+Offer Shares on behalf of independent third parties on a discretionary basis.
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted
+to the Company, its consent under paragraph 5(1) of the Placing Guidelines to permit the
+Company to allocate Offer Shares in the International Offering to Orient AM. The Offer
+Shares placed to Orient AM are held by Orient AM on behalf of independent third parties and
+are in compliance with all the conditions under the consent granted by the Stock Exchange.
+Please refer to the section headed “Applications and Indications of Interest Received —
+International Offering — Placees with the Consent from the Stock Exchange” in this
+announcement for further details.
+A Close Associate of Existing Shareholders as a Placee with the Waiver and Consent under Rule
+10.04 of the Listing Rule and Paragraph 5(2) of the Placing Guidelines
+• Under the International Offering, a total of 4,617,500 Offer Shares were allocated to FIL
+Investment Management (Hong Kong) Limited, a close associate of existing Shareholders of
+the Company holding in aggregate less than 5% of the Company’s voting rights as a placee
+under the placing tranche of the Global Offering, representing (i) approximately 10.9% of the
+Offer Shares under the Global Offering; and (ii) approximately 0.6% of the total issued share
+capital of the Company upon Listing (taking into account of the partial exercise of the Offer
+Size Adjustment Option and before any exercise of the Over-allotment Option, and assuming
+no Shares are issued under the Equity Incentive Schemes).
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted
+to the Company, a waiver from strict compliance with the requirements of Rule 10.04 of the
+Listing Rules and its consent under Paragraph 5(2) of the Placing Guidelines to permit the
+Company to allocate Offer Shares in the Global Offering to existing Shareholders holding
+less than 5% of the Company’s voting rights and their close associates as placees under the
+placing tranche of the Global Offering. Please refer to the section headed “Applications and
+Indications of Interest Received — International Offering — Placees with the Consent from
+the Stock Exchange” in this announcement for further details.
+
+
+--- page 5 ---
+7
+Confirmations Regarding Public Shareholders in the Hong Kong Public Offering and
+Placees in the International Offering
+• Save as disclosed the sections headed “Applications and Indications of Interest Received
+— Cornerstone Investors” and “Applications and Indications of Interest Received —
+Placees with Waiver/Consent from the Stock Exchange”, the Directors confirmed that no
+Offer Shares placed by or through the Joint Sponsor-Overall Coordinators, Joint Global
+Coordinators, the Joint Bookrunners or the Underwriters under the Global Offering have
+been placed to applicants who are core connected persons (as defined in the Listing Rules)
+or Directors of the Company, or to any connected clients (as set out in paragraph 5(1) of the
+Placing Guidelines), or persons set out in paragraph 5(2) of the Placing Guidelines, whether
+in their own names or through nominees. The International Offering is in compliance with the
+Placing Guidelines.
+• Save as disclosed the sections headed “Applications and Indications of Interest Received —
+Cornerstone Investors” and “Applications and Indications of Interest Received — Placees
+with Waiver/Consent from the Stock Exchange”, the Directors further confirm that, to the
+best of their knowledge and information, all placees under the International Offering and their
+ultimate beneficial owners are independent of and are not (a) the core connected persons (as
+defined in the Listing Rules) of the Company, (b) the directors or existing shareholders of the
+Company or any of the Company’s subsidiaries, or (c) the close associates (as defined in the
+Listing Rules) of (a) and/or (b) above whether in their own names or through nominees.
+• Save as disclosed the sections headed “Applications and Indications of Interest Received —
+Cornerstone Investors” and “Applications and Indications of Interest Received — Placees
+with Waiver/Consent from the Stock Exchange”, the Directors, to the best of their knowledge
+and information, confirm that, (i) none of the Offer Shares subscribed by public Shareholders
+in the Hong Kong Public Offering and placees in the International Offering has been financed
+directly or indirectly by the Company, any of the Directors, chief executive, the Controlling
+Shareholders, substantial Shareholders or existing Shareholders of the Company or any of
+its subsidiaries or their respective close associates; (ii) none of the public Shareholders in
+the Hong Kong Public Offering and placees in the International Offering who has subscribed
+for the Offer Shares is accustomed to taking instructions from the Company, any of the
+Directors, chief executive, the Controlling Shareholders, substantial Shareholders or existing
+Shareholders of the Company or any of its subsidiaries or their respective close associates
+in relation to the acquisition, disposal, voting or other disposition of the Offer Shares
+registered in his/her/its name or otherwise held by him/her/it; (iii) there is no side agreement
+or arrangement between the Company, any of the Directors, chief executive, the Controlling
+Shareholders, substantial shareholders, existing Shareholders of the Company or any of its
+subsidiaries or their respective close associates, on one hand, and the public subscribers or the
+placee who has subscribed for the Offer Shares, on the other hand; (iv) no rebate has been,
+directly or indirectly, provided by the Company, any of the Directors, chief executive of the
+Company, the Controlling Shareholders, substantial Shareholders or existing Shareholders,
+or any of their subsidiaries or their respective close associates, or syndicate members, or
+any other brokers involved in the Offering, to any public investors in the Hong Kong Public
+Offering or placees in the International Offering; and (v) the consideration payable by the
+public investors in the Hong Kong Public Offering and placees in the International Offering
+for each Offer Share subscribed for, or purchased by them, is the same as the Final Offer
+Price as determined by the Company, plus brokerage of 1%, AFRC transaction levy of
+0.00015%, SFC transaction levy of 0.0027% and Hong Kong Stock Exchange trading fee of
+0.00565%.
+
+
+--- page 6 ---
+8
+Over-allotment Option
+• In connection with the Global Offering, the Company granted the Over-allotment Option
+to the International Underwriters, exercisable by the Joint Sponsor-Overall Coordinators
+(for themselves and on behalf of the International Underwriters), at any time from the
+Listing Date to Thursday, 19 October 2023, being the 30th day after the last day for lodging
+applications under the Hong Kong Public Offering, to require the Company to allot and issue
+up to an aggregate of 6,366,700 additional Offer Shares, representing approximately 15%
+of the Offer Shares under the Global Offering, at the final Offer Price, to cover the over-
+allocations in the International Offering, if any.
+• There has been an over-allocation of 6,366,700 Offer Shares in the International Offering
+and such over-allocation will be settled using Class A Shares to be borrowed under the Stock
+Borrowing Agreement between Joy Capital Opportunity, L.P. and the Stabilising Manager
+(or its affiliates or any person acting for it). Such borrowed Class A Shares will be covered
+by exercising the Over-allotment Option in full or in part, or by making purchases in the
+secondary market at prices that do not exceed the final Offer Price or by a combination of
+these means. In the event the Over-allotment Option is exercised, an announcement will be
+made on the Company’s website at www.tuhu.cn and the website of the Stock Exchange at
+www.hkexnews.hk . As of the date of this announcement, the Over-allotment Option has not
+been exercised.
+Lock-up Arrangement
+• The Company, its Controlling Shareholders, all other existing Shareholders and the
+Cornerstone Investors are subject to certain lock-up restrictions as set out in the section
+headed “Lock-up Arrangement” in this announcement.
+Results of Allocations
+• The final Offer Price, the level of indications of interests in the International Offering, the
+level of applications in the Hong Kong Public Offering and the basis of allocation of the
+Hong Kong Offer Shares are also made available on the Company’s website at www.tuhu.cn
+and the website of the Stock Exchange at www.hkexnews.hk .
+• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
+Offering successfully applied for through the White Form eIPO service or through the
+CCASS EIPO service, including the Hong Kong identity card numbers, passport numbers or
+Hong Kong business registration numbers of successful applicants (where applicable) and the
+number of Hong Kong Offer Shares, successfully applied for, will be made available at the
+times and dates and in the manner specified below:
+(i) announcement of the Hong Kong Public Offering to be published on the websites
+of the Company and the Stock Exchange at www.tuhu.cn and www.hkexnews.hk ,
+respectively, by no later than 9:00 a.m. on Monday, 25 September 2023;
+
+
+--- page 7 ---
+9
+(ii) results of allocations for the Hong Kong Public Offering will be available at
+www.iporesults.com.hk (alternatively: English https://www.eipo.com.hk/en/Allotment ;
+Chinese https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID” function
+from 8:00 a.m. on Monday, 25 September 2023 to 12:00 midnight on Sunday, 1 October
+2023; and
+(iii) from the allocation results telephone enquiry line by calling +852 2862 8555 between
+9:00 a.m. and 6:00 p.m. on Monday, 25 September 2023, Tuesday, 26 September 2023,
+Wednesday, 27 September 2023 and Thursday, 28 September 2023.
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by White
+Form eIPO” in this announcement refer to Hong Kong identity card numbers/passport
+numbers/Hong Kong business registration numbers/certificate of incorporation numbers/
+beneficial owner identification codes (if such applications are made by nominees as agent
+for the benefit of another person) whereas those displayed in the section headed “Results of
+Applications Made by Giving Electronic Application Instructions to HKSCC via CCASS”
+in this announcement are provided by CCASS Participants via CCASS. Therefore, the
+identification document numbers shown in the two sections are different in nature. Please
+note that the list of identification document numbers set out in this announcement may not be
+a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants are disclosed. Applicants
+with beneficial names only but not identification document numbers are not disclosed due
+to personal privacy issue as elaborated below. Applicants who applied for the Hong Kong
+Offer Shares through their brokers can consult their brokers to enquire about their application
+results.
+• Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications Made
+by White Form eIPO” and “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS” are redacted and not all details of applications are
+disclosed in this announcement.
+Despatch/Collection of Share Certificates/e-Refund Payment Instructions/Refund Cheques
+• Applicants who applied for 1,000,000 or more Hong Kong Offer Shares through the White
+Form eIPO service, and whose application is wholly or partially successful may collect
+Share certificate(s) (where applicable) in person from the Hong Kong Share Registrar,
+Computershare Hong Kong Investor Services Limited, at Shops 1712–1716, 17th Floor,
+Hopewell Centre, 183 Queen’s Road East, Wan Chai, Hong Kong, from 9:00 a.m. to 1:00
+p.m. on Monday, 25 September 2023, or any other place or date notified by the Company.
+• Applicants being individuals who are eligible for personal collection cannot authorize any
+other person to make collection on their behalf. Corporate applicants which are eligible
+for personal collection must attend by their authorised representatives bearing letters of
+authorisation from their corporations stamped with the corporations’ chops. Both individuals
+and authorised representatives (if applicable) must produce, at the time of collection,
+evidence of identity acceptable to Computershare Hong Kong Investor Services Limited.
+
+
+--- page 8 ---
+10
+• Applicants who applied for less than 1,000,000 Hong Kong Offer Shares through the White
+Form eIPO service, will have their Share certificate(s) (where applicable) sent to the address
+specified in their application instructions on or before Monday, 25 September 2023 by
+ordinary post and at their own risk.
+• Share certificates for Hong Kong Offer Shares allotted to applicants who applied through the
+White Form eIPO service, which are either not available for personal collection, or which are
+available but are not collected in person within the time specified for collection, are expected
+to be despatched by ordinary post to those entitled to the addresses specified in the relevant
+applications at their own risk on or before Monday, 25 September 2023.
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC will have their Share certificate(s) issued in the name of HKSCC
+Nominees Limited and deposited directly into CCASS to be credited to their CCASS Investor
+Participant stock accounts or the stock accounts of their designated CCASS Participant who
+gave electronic application instructions on their behalf on Monday, 25 September 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to them
+with that CCASS Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS may also check the number of Hong Kong Offer Shares
+allocated to them and the amount of refund monies (if any) payable to them via the CCASS
+Phone System and the CCASS Internet System (under the procedures contained in HKSCC’s
+“An Operating Guide for Investor Participants” in effect from time to time). Immediately
+after the crediting of the Hong Kong Offer Shares to the CCASS Investor Participant stock
+accounts and the credit of refund monies to the CCASS Investor Participants bank accounts,
+HKSCC will also make available to the CCASS Investor Participants an activity statement
+showing the amount of Hong Kong Offer Shares credited to their CCASS Investor Participant
+stock accounts and the refund amount credited to their respective designated bank accounts
+(if any).
+• For applicants who applied for the Hong Kong Offer Shares through the White Form eIPO
+service and paid the application monies through a single bank account, refund monies (if any)
+will be despatched to that bank account in the form of e-Refund payment instructions. For
+applicants who have applied for the Hong Kong Offer Shares through the White Form eIPO
+service and paid the application monies through multiple bank accounts, refund monies (if
+any) will be despatched to the addresses specified in their application instructions in the form
+of refund cheque(s) in favour of the applicant (or, in the case of joint applications, the first-
+named applicant) by ordinary post and at their own risk on or before Monday, 25 September
+2023.
+
+
+--- page 9 ---
+11
+• Refund monies (if any) for applicants who applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants’
+designated bank accounts or the designated bank accounts of their broker or custodian on
+Monday, 25 September 2023.
+• Share certificates for the Hong Kong Offer Shares are expected to be issued on Monday,
+25 September 2023 but will only become valid evidence of title provided that the Global
+Offering has become unconditional in all respects, and neither of the Underwriting
+Agreements has been terminated in accordance with its terms, prior to 8:00 a.m. on the
+Listing Date, which is expected to be on or around Tuesday, 26 September 2023. Investors
+who trade Shares on the basis of publicly available allocation details before the receipt of
+share certificates or before the share certificates becoming evidence do so entirely at their
+own risk.
+• No temporary document of title will be issued in respect of the Class A Shares. No receipt
+will be issued for sums paid on application.
+Public Float
+• Upon Listing, approximately 67.16% of the total issued share capital of the Company
+(taking into account of the partial exercise of the Offer Size Adjustment Option and before
+any exercise of the Over-allotment Option, and assuming no Shares are issued under the
+Equity Incentive Schemes) will be counted towards the public float, satisfying the minimum
+percentage prescribed by Rule 8.08 of the Listing Rules.
+• The Directors also confirm that (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 of the Company upon Listing (taking into
+account of the partial exercise of the Offer Size Adjustment Option and before any exercise
+of the Over-allotment Option, and assuming no Shares are issued under the Equity Incentive
+Schemes); (iii) the three largest public Shareholders do not hold more than 50% of the Shares
+held 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
+• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
+a.m. on Tuesday, 26 September 2023 (Hong Kong time), dealings in the Class A Shares on
+the Stock Exchange are expected to commence at 9:00 a.m. on Tuesday, 26 September 2023
+(Hong Kong time). The Class A Shares will be traded in board lots of 100 Class A Shares
+each. The stock code of the Class A Shares is 9690.
+In view of the high concentration of shareholding in a small number of Shareholders,
+Shareholders and prospective investors should be aware that the price of the Class A Shares
+could move substantially even with a small number of Class A Shares traded, and should
+exercise extreme caution when dealing in Class A Shares.
+
+
+--- page 10 ---
+12
+FINAL OFFER PRICE
+The final Offer Price has been determined at HK$28.00 per Offer Share (exclusive of brokerage
+of 1.0%, Stock Exchange trading fee of 0.00565%, SFC transaction levy of 0.0027% and AFRC
+transaction levy of 0.00015%).
+OFFER SIZE ADJUSTMENT OPTION
+The Offer Size Adjustment Option was exercised in part, pursuant to which the Company is issuing
+and allotting 1,827,700 additional Offer Shares, representing approximately 4.5% of the total
+number of Offer Shares initially available under the Global Offering, at the final Offer Price.
+Accordingly, the total number of Offer Shares finally available under the Global Offering (taking
+into account of the partial exercise of the Offer Size Adjustment Option and before any exercise of
+the Over-allotment Option, and assuming no Shares are issued under the Equity Incentive Schemes)
+that may be allotted and issued by the Company is 42,444,800 Offer Shares and the total issued
+share capital of the Company upon Listing (taking into account of the partial exercise of the Offer
+Size Adjustment Option and before any exercise of the Over-allotment Option, and assuming no
+Shares are issued under the Equity Incentive Schemes) will be 814,371,439 Shares.
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the final Offer Price of HK$28.00 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting commissions and
+other estimated offering expenses paid and payable by the Company in connection with the Global
+Offering and taking into account of the partial exercise of the Offer Size Adjustment Option and
+before any exercise of the Over-allotment Option, are estimated to be approximately HK$1,081.5
+million.
+The Company intends to apply such net proceeds for the following purposes:
+• Approximately 35% (approximately HK$378.5 million) of the net proceeds is expected to
+be used over the next three years for the enhancement of the supply chain capability of the
+Company.
+• Approximately 20% (approximately HK$216.3 million) of the net proceeds is expected to
+be used over the next three years for research and development to advance the data analytics
+technologies and further enhance the operating efficiency. The Company will continue to
+recruit and retain research and development talents.
+• Approximately 15% (approximately HK$162.2 million) of the net proceeds is expected to be
+used over the next three years for expanding the store network and franchisee base, especially
+in the tier 2 and below cities and counties, enlarging its operations and supporting team, and
+further tightening its relationship with franchisees.
+
+
+--- page 11 ---
+13
+• Approximately 20% (approximately HK$216.3 million) of the net proceeds is expected to
+be used over the next three years to fund investment related to automotive services for NEV
+owners as well as investment in tools and equipment related to these services.
+• Approximately 10% (approximately HK$108.2 million) of the net proceeds is expected to be
+used for working capital and general corporate purposes.
+If the Over-allotment Option is exercised in full, the Company will receive additional net proceeds
+of approximately HK$173 million for 6,366,700 additional Offer Shares to be issued and allotted
+upon the exercise of the Over-allotment Option, after deduction of the underwriting commissions
+and other estimated offering expenses paid and payable by the Company in connection with the
+Global Offering. The allocation of the additional net proceeds will be adjusted on a pro rata basis
+according to the use of proceeds as set out above.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+Hong Kong Public Offering
+The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have been
+over-subscribed. At the close of the application lists at 12:00 noon on Tuesday, 19 September
+2023, a total of 9,305 valid applications have been received pursuant to the Hong Kong Public
+Offering through the White Form eIPO service and through the CCASS EIPO service for a total of
+10,854,400 Hong Kong Offer Shares, representing approximately 2.67 times of the total number of
+4,061,800 Hong Kong Offer Shares initially available for subscription under the Hong Kong Public
+Offering, among which:
+• 9,294 valid applications in respect of a total of 8,354,400 Hong Kong Offer Shares were for
+the Hong Kong Public Offering with an aggregate subscription amount based on the maximum
+Offer Price of HK$31.00 per Offer Share (exclusive of brokerage of 1.0%, Stock Exchange
+trading fee of 0.00565%, SFC transaction levy of 0.0027% and AFRC transaction levy of
+0.00015%) of HK$5 million or less, representing approximately 4.11 times of the 2,030,900
+Hong Kong Offer Shares initially comprised in Pool A of the Hong Kong Public Offering; and
+• 11 valid applications in respect of a total of 2,500,000 Hong Kong Offer Shares were for the
+Hong Kong Public Offering with an aggregate subscription amount based on the maximum
+Offer Price of HK$31.00 per Offer Share (exclusive of brokerage of 1.0%, Stock Exchange
+trading fee of 0.00565%, SFC transaction levy of 0.0027% and AFRC transaction levy of
+0.00015%) of more than HK$5 million, representing approximately 1.23 times of the 2,030,900
+Hong Kong Offer Shares initially comprised in Pool B of the Hong Kong Public Offering.
+
+
+--- page 12 ---
+14
+No application has been rejected due to invalid application. Four multiple or suspected multiple
+applications have been identified and rejected. No application has been rejected due to dishonored
+payment. No application for more than 2,030,900 Hong Kong Offer Shares (being 50% of the Hong
+Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
+As the over-subscription in the Hong Kong Public Offering is less than 15 times of the number of
+Hong Kong Offer Shares initially available under the Hong Kong Public Offering, the reallocation
+procedures as described in the section headed “Structure of the Global Offering — The Hong Kong
+Public Offering — Reallocation and Clawback” in the Prospectus have not been applied.
+Due to the partial exercise of the Offer Size Adjustment Option, the final number of Offer Shares
+under the Hong Kong Public Offering is 4,244,500 Offer Shares, representing 10% of the Offer
+Shares under the Global Offering, and being allocated to 9,305 successful applicants under the
+Hong Kong Public Offering.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offering”
+below.
+International Offering
+The Offer Shares initially offered under the International Offering were moderately over-
+subscribed. A total of 83,304,825 Offer Shares under the International Offering (including the
+subscription by the Cornerstone Investors) have been subscribed, representing approximately 2.3
+times of the total number of Offer Shares initially available under the International Offering.
+Due to the partial exercise of the Offer Size Adjustment Option, the final number of Offer Shares
+under the International Offering is 38,200,300 Offer Shares, representing 90% of the Offer Shares
+under the Global Offering. There has been an over-allocation of 6,366,700 Offer Shares. Please
+refer to the section headed “Applications and Indications of Interest Received — International
+Offering — Over-allotment Option” in this announcement.
+There are a total of 140 placees under the International Offering.
+A total of 105 placees have been allotted four board lots of Offer Shares or less, representing
+approximately 75.00% of 140 placees under the International Offering. These placees have been
+allotted 15,600 Offer Shares, representing approximately 0.04% of the Offer Shares available under
+the International Offering (taking into account of the partial exercise of the Offer Size Adjustment
+Option and before any exercise of the Over-allotment Option).
+
+
+--- page 13 ---
+15
+A total of 102 placees have been allotted three board lots of Offer Shares or less, representing
+approximately 72.86% of 140 placees under the International Offering. These placees have been
+allotted 14,400 Offer Shares, representing approximately 0.04% of the Offer Shares available under
+the International Offering (taking into account of the partial exercise of the Offer Size Adjustment
+Option and before any exercise of the Over-allotment Option).
+A total of 95 placees have been allotted two board lots of Offer Shares or less, representing
+approximately 67.86% of 140 placees under the International Offering. These placees have been
+allotted 12,300 Offer Shares, representing approximately 0.03% of the Offer Shares available under
+the International Offering (taking into account of the partial exercise of the Offer Size Adjustment
+Option and before any exercise of the Over-allotment Option).
+A total of 67 placees have been allotted one board lots of Offer Shares, representing approximately
+47.86% of 140 placees under the International Offering. These placees have been allotted
+6,700 Offer Shares, representing approximately 0.02% of the Offer Shares available under the
+International Offering (taking into account of the partial exercise of the Offer Size Adjustment
+Option and before any exercise of the Over-allotment Option).
+Cornerstone Investors
+Based on the final Offer Price of HK$28.00 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy
+of 0.00015%) and pursuant to the Cornerstone Investment Agreements as disclosed in the section
+headed “Cornerstone Investors” in the Prospectus, the Cornerstone Investors have subscribed for a
+total of 28,021,300 Offer Shares, representing (i) approximately 66.0% of the Offer Shares under
+the Global Offering; and (ii) approximately 3.4% of the total issued share capital of the Company
+(taking into account of the partial exercise of the Offer Size Adjustment Option and before any
+exercise of the Over-allotment Option, and assuming no Shares are issued under the Equity
+Incentive Schemes).
+
+
+--- page 14 ---
+16
+The number of Offer Shares subscribed for by the Cornerstone Investors is determined as set out
+below:
+Assuming the Over-Allotment
+Option is not exercised
+Assuming the Over-Allotment
+Option is fully exercised
+
+Cornerstone Investor
+Subscription
+amount
+Number of
+Offer Shares
+(1)
+% of the
+Offer Shares
+(2)
+% of the total
+issued share
+capital of the
+Company
+upon Listing
+(2)
+% of the
+Offer Shares
+(2)
+% of the total
+issued share
+capital of the
+Company
+upon Listing
+(2)
+(US$ in million)
+Zhejiang Leapmotor
+ Technology Co., Ltd. 30.0 8,406,400 19.81 1.03 17.22 1.02
+Gotion High-Tech Co., Ltd. 30.0 8,406,400 19.81 1.03 17.22 1.02
+Image Frame Investment
+ (HK) Limited 25.0 7,005,400 16.50 0.86 14.35 0.85
+Castrol Holdings International
+ Limited 10.0 2,802,100 6.60 0.34 5.74 0.34
+Shanghai Zizhu High-tech
+ Zone (Group) Co., Ltd 5.0 1,401,000 3.30 0.17 2.87 0.17
+
+Total 100.0 28,021,300 66.02 3.44 57.41 3.41
+
+Notes:
+(1) Calculated based on the exchange rate set out in the section headed “Information about this document and the Global
+Offering — Exchange rate conversion” in the Prospectus. The number of Offer Shares are subject to rounding down to the
+nearest whole board lot of 100 Class A Shares.
+(2) Taking into account of the partial exercise of the Offer Size Adjustment Option and assuming no Shares are issued under the
+Equity Incentive Schemes. The percentage figures are subject to rounding adjustments.
+One of the Cornerstone Investors, namely Image Frame Investment (HK) Limited, which is an
+existing Shareholder of the Company or their close associates, has been granted a waiver from strict
+compliance with the requirements under Rules 9.09(b) and 10.04 of, and a consent under paragraph
+5(2) of the Placing Guidelines to, the Listing Rules (as applicable) by the Stock Exchange. For
+further details, please see the section headed “Waivers and Exemptions” in the Prospectus.
+
+
+--- page 15 ---
+17
+To the Company’s best knowledge, save for Image Frame Investment (HK) Limited which is
+ultimately controlled by one of the substantial Shareholders of the Company and is an existing
+Shareholder of the Company, each of Cornerstone Investors (and, for Cornerstone Investors who
+will subscribe for the Offer Shares through a QDII, each of such QDIIs) is (i) not accustomed
+to take instructions from the Company, its Directors, chief executive, Controlling Shareholders,
+substantial Shareholders or existing Shareholders or any of its subsidiaries or their respective
+close associates in relation to the acquisition, disposal, voting or other disposition of the Shares
+registered in their name or otherwise held by them; (ii) not financed, directly or indirectly, by
+the Company, its Directors, chief executive, Controlling Shareholders, substantial Shareholders
+or existing Shareholders or any of its subsidiaries or their respective close associates; and (iii)
+independent of the other Cornerstone Investors, the Group, the connected persons of the Company
+and their respective associates, and is not an existing Shareholder or a close associate of the Group.
+Further, upon Listing (taking into account of the partial exercise of the Offer Size Adjustment
+Option and before any exercise of the Over-allotment Option, and assuming no Shares are issued
+under the Equity Incentive Schemes), save for Image Frame Investment (HK) Limited, none of
+the Cornerstone Investors will have any Board representation in the Company, and none of the
+Cornerstone Investors will become a substantial Shareholder of the Company.
+There will be no delayed delivery or deferred settlement of Offer Shares to be subscribed by the
+Cornerstone Investors and the consideration will be settled by the Cornerstone Investors before
+the Listing Date. Please refer to the section headed “Cornerstone Investors” in the Prospectus for
+further details relating to the Cornerstone Investors.
+Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at any
+time during the period of six months from the Listing Date, dispose of any of the Offer Shares
+they have purchased pursuant to the relevant Cornerstone Investment Agreements, save for certain
+limited circumstances, such as transfers to any of its wholly-owned subsidiaries who will be bound
+by the same obligations of such Cornerstone Investor.
+
+
+--- page 16 ---
+18
+Placees with Waiver/Consent from the Stock Exchange
+Connected Client as Placee with the Consent Under Paragraph 5(1) of the Placing Guidelines
+Under the International Offering, a total of 4,171,400 Offer Shares were placed to a connected
+client, namely Orient Asset Management (Hong Kong) Limited (“ Orient AM”), within the meaning
+of the Placing Guidelines, representing (i) approximately 9.8% of the Offer Shares under the Global
+Offering; and (ii) approximately 0.5% of the total issued share capital of the Company (taking into
+account of the partial exercise of the Offer Size Adjustment Option and before any exercise of the
+Over-allotment Option, and assuming no Shares are issued under the Equity Incentive Schemes).
+The connected client will hold the Offer Shares on behalf of independent third parties on a
+discretionary basis, details of which are set out below:
+Placee
+Connected
+Distributor
+Relationship with the
+Connected Distributor
+Number of Offer
+Shares placed
+% of the Offer
+Shares under the
+Global Offering
+(1)
+% of the
+total issued
+share capital
+of the Company
+upon Listing
+(1)
+Orient AM
+(2)
+Orient
+Securities
+(Hong Kong)
+Limited
+(“Orient
+Securities ”)
+Orient AM is a directly
+wholly-owned subsidiary
+of Orient Securities
+International Financial
+Group Limited and Orient
+Securities is a directly
+wholly-owned subsidiary
+of Orient Securities
+International Financial
+Group Limited. Therefore,
+each of Orient AM and
+Orient Securities is a
+member of the same group
+of companies.
+4,171,400 9.8 0.5
+Notes:
+(1) Taking into account of the partial exercise of the Offer Size Adjustment Option and before any exercise of the Over-
+allotment Option, and assuming no Shares are issued under the Equity Incentive Schemes. The percentage figures are subject
+to rounding adjustments.
+(2) Orient AM, acting as an investment manager, is a connected client of Orient Securities (a sub-broker of the Global Offering)
+within the meaning of the Placing Guidelines. Orient AM shall hold the Offer Shares for and on behalf of an independent
+third party on a discretionary basis.
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to the
+Company, its consent under paragraph 5(1) of the Placing Guidelines to permit the Company to
+allocate such Offer Shares in the International Offering to Orient Asset. The Offer Shares placed to
+Orient Asset are held by Orient Asset on behalf of independent third parties and are in compliance
+with all the conditions under the consent granted by the Stock Exchange.
+
+
+--- page 17 ---
+19
+A Close Associate of Existing Shareholders as a Placee with the Waiver and Consent under Rule
+10.04 of the Listing Rule and Paragraph 5(2) of the Placing Guidelines
+Under the International Offering, a total of 4,617,500 Offer Shares were allocated to FIL Investment
+Management (Hong Kong) Limited (“ FIL-Hong Kong ”), a close associate of existing Shareholders
+of the Company holding in aggregate less than 5% of the Company’s voting rights as a placee
+under the placing tranche of the Global Offering, representing (i) approximately 10.9% of the Offer
+Shares under the Global Offering; and (ii) approximately 0.6% of the total issued share capital of
+the Company upon Listing (taking into account of the partial exercise of the Offer Size Adjustment
+Option and before any exercise of the Over-allotment Option, and assuming no Shares are issued
+under the Equity Incentive Schemes) details of which are set out below:
+Placee
+Relationship with the
+Company
+Number of Offer
+Shares placed
+% of the Offer
+Shares under the
+Global Offering
+(1)
+% of the
+total issued
+share capital
+of the Company
+upon Listing
+(1)
+FIL-Hong Kong FIL-Hong Kong is a close
+associate of certain existing
+Shareholders, namely Fidelity
+China Special Situations PLC,
+Fidelity Asian Values PLC,
+Fidelity Investment Funds, and
+Fidelity Funds
+4,617,500 10.9 0.6
+Note:
+(1) Taking into account of the partial exercise of the Offer Size Adjustment Option and before any exercise of the Over-
+allotment Option, and assuming no Shares are issued under the Equity Incentive Schemes. The percentage figures are subject
+to rounding adjustments.
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to the
+Company, a waiver from strict compliance with the requirements of Rule 10.04 of the Listing
+Rules and its consent under Paragraph 5(2) of the Placing Guidelines to permit the Company to
+allocate Class A Shares in the Global Offering to existing Shareholders holding less than 5% of
+the Company’s voting rights and their close associates as placees under the placing tranche of the
+Global Offering.
+
+
+--- page 18 ---
+20
+CONFIRMATIONS REGARDING PUBLIC SHAREHOLDERS IN
+THE HONG KONG PUBLIC OFFERING AND PLACEES IN THE
+INTERNATIONAL OFFERING
+Save as disclosed the sections headed “Applications and Indications of Interest Received —
+Cornerstone Investors” and “Applications and Indications of Interest Received — Placees with
+Waiver/Consent from the Stock Exchange”, the Directors confirmed that no Offer Shares placed
+by or through the Joint Sponsor-Overall Coordinators, Joint Global Coordinators, the Joint
+Bookrunners or the Underwriters under the Global Offering have been placed to applicants who
+are core connected persons (as defined in the Listing Rules) or Directors of the Company, or to
+any connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons set out in
+paragraph 5(2) of the Placing Guidelines, whether in their own names or through nominees. The
+International Offering is in compliance with the Placing Guidelines.
+Save as disclosed the sections headed “Applications and Indications of Interest Received —
+Cornerstone Investors” and “Applications and Indications of Interest Received — Placees with
+Waiver/Consent from the Stock Exchange”, the Directors further confirm that, to the best of
+their knowledge and information, all placees under the International Offering and their ultimate
+beneficial owners are independent of and are not (a) the core connected persons (as defined in the
+Listing Rules) of the Company, (b) the directors or existing shareholders of the Company or any of
+the Company’s subsidiaries, or (c) the close associates (as defined in the Listing Rules) of (a) and/or
+(b) above whether in their own names or through nominees.
+Save as disclosed the sections headed “Applications and Indications of Interest Received —
+Cornerstone Investors” and “Applications and Indications of Interest Received — Placees with
+Waiver/Consent from the Stock Exchange”, the Directors, to the best of their knowledge and
+information, confirm that, (i) none of the Offer Shares subscribed by public Shareholders in the
+Hong Kong Public Offering and placees in the International Offering has been financed directly
+or indirectly by the Company, any of the Directors, chief executive, the Controlling Shareholders,
+substantial Shareholders or existing Shareholders of the Company or any of its subsidiaries or their
+respective close associates; (ii) none of the public Shareholders in the Hong Kong Public Offering
+and placees in the International Offering who has subscribed for the Offer Shares is accustomed
+to taking instructions from the Company, any of the Directors, chief executive, the Controlling
+Shareholders, substantial Shareholders or existing Shareholders of the Company or any of its
+subsidiaries or their respective close associates in relation to the acquisition, disposal, voting or
+other disposition of the Offer Shares registered in his/her/its name or otherwise held by him/her/it;
+(iii) there is no side agreement or arrangement between the Company, any of the Directors, chief
+executive, the Controlling Shareholders, substantial shareholders, existing Shareholders of the
+Company or any of its subsidiaries or their respective close associates, on one hand, and the public
+subscribers or the placee who has subscribed for the Offer Shares, on the other hand; (iv) no rebate
+has been, directly or indirectly, provided by the Company, any of the Directors, chief executive of
+the Company, the Controlling Shareholders, substantial Shareholders or existing Shareholders, or
+any of their subsidiaries or their respective close associates, or syndicate members, or any other
+brokers involved in the Offering, to any public investors in the Hong Kong Public Offering or
+placees in the International Offering; and (v) the consideration payable by the public investors
+in the Hong Kong Public Offering and placees in the International Offering for each Offer Share
+subscribed for, or purchased by them, is the same as the final Offer Price as determined by the
+Company, plus brokerage of 1%, AFRC transaction levy of 0.00015%, SFC transaction levy of
+0.0027% and Hong Kong Stock Exchange trading fee of 0.00565%.
+
+
+--- page 19 ---
+21
+The Directors confirm that (a) no placee will, individually, be placed more than 10% of the enlarged
+issued share capital of the Company immediately after the Global Offering; (b) there will not be any
+new substantial shareholder (as defined in the Listing Rules) of the Company upon Listing (taking
+into account of the partial exercise of the Offer Size Adjustment Option and before any exercise
+of the Over-allotment Option, and assuming no Shares are issued under the Equity Incentive
+Schemes); (c) the number of Shares in public hands will satisfy the minimum percentage as required
+by Rule 8.08(1) of the Listing Rules; (d) the three largest public Shareholders of the Company do
+not hold more than 50% of the Shares in public hands at the time of Listing in compliance with
+Rules 8.08(3) and 8.24 of the Listing Rules; and (e) there will be at least 300 Shareholders at the
+time of Listing in compliance with Rule 8.08(2) of the Listing Rules.
+OVER-ALLOTMENT OPTION
+In connection with the Global Offering, the Company granted the Over-allotment Option to the
+International Underwriters, exercisable by the Joint Sponsor-Overall Coordinators (for themselves
+and on behalf of the International Underwriters), at any time from the Listing Date to Thursday,
+19 October 2023, being the 30th day after the last day for lodging applications under the Hong
+Kong Public Offering, to require the Company to allot and issue up to an aggregate of 6,366,700
+additional Offer Shares, representing approximately 15% of the Offer Shares under the Global
+Offering, at the final Offer Price, to cover the over-allocations in the International Offering, if any.
+There has been an over-allocation of 6,366,700 Offer Shares in the International Offering and such
+over-allocation will be settled using Class A Shares to be borrowed under the Stock Borrowing
+Agreement between Joy Capital Opportunity, L.P. and the Stabilising Manager (or its affiliates or
+any person acting for it). Such borrowed Class A Shares will be covered by exercising the Over-
+allotment Option in full or in part, or by making purchases in the secondary market at prices that do
+not exceed the final Offer Price or by a combination of these means. In the event the Over-allotment
+Option is exercised, an announcement will be made on the Company’s website at www.tuhu.cn and
+the website of the Stock Exchange at www.hkexnews.hk . As of the date of this announcement, the
+Over-allotment Option has not been exercised.
+
+
+--- page 20 ---
+22
+LOCK-UP ARRANGEMENT
+Each of the Company, its Controlling Shareholders, other existing Shareholders, and the
+Cornerstone Investors is subject to certain arrangements in relation to the Shares (the “ Lock-up
+Arrangement ”). The major terms of the Lock-up Arrangement are as follows:
+Name
+Number of Shares
+to the Lock-up
+Arrangement
+% of the total issued
+share capital
+of the Company
+upon Listing
+which are subject
+to the Lock-up
+Arrangement
+(1)
+Last day of the
+lock-up period
+The Company
+(2)
+ (subject to lock-up obligations
+ pursuant to the Listing Rules and the
+ Hong Kong Underwriting Agreement)
+N/A N/A March 26, 2024
+Controlling Shareholders
+(3)
+ (subject to lock-up obligations
+ pursuant to the Listing Rules and the
+ Hong Kong Underwriting Agreement)
+Mr. Chen Min, Ilnewgnay
+ Investment Limited and
+ Nholresi Investment Limited
+12,487,564
+Class A Shares
+68,949,580
+Class B Shares
+10.0 March 26, 2024
+(First Six-Month Period)
+September 26, 2024
+(Second Six-Month Period)
+All other existing Shareholders
+(4)
+ (subject to lock-up obligations
+ pursuant to the separate lock-up
+ undertakings entered into by
+ certain existing Shareholders and
+ the shareholders’ agreement
+ dated January 20, 2022)
+690,489,495
+Class A Shares
+84.8 March 12, 2024 or
+March 24, 2024
+(as the case may be)
+Cornerstone Investors
+(5)
+ (subject to lock-up obligations
+ pursuant to the Cornerstone
+ Investment Agreements)
+Zhejiang Leapmotor Technology
+ Co., Ltd.
+8,406,400
+Class A Shares
+1.03 March 26, 2024
+Gotion High-Tech Co., Ltd. 8,406,400
+Class A Shares
+1.03 March 26, 2024
+Image Frame Investment (HK)
+ Limited
+7,005,400
+Class A Shares
+0.86 March 26, 2024
+
+
+--- page 21 ---
+23
+Name
+Number of Shares
+to the Lock-up
+Arrangement
+% of the total issued
+share capital
+of the Company
+upon Listing
+which are subject
+to the Lock-up
+Arrangement
+(1)
+Last day of the
+lock-up period
+Castrol Holdings International
+ Limited
+2,802,100
+Class A Shares
+0.34 March 26, 2024
+Shanghai Zizhu High-tech Zone
+ (Group) Co., Ltd
+1,401,000
+Class A Shares
+0.17 March 26, 2024
+
+Total 730,998,359
+Class A Shares
+68,949,580
+Class B Shares
+98.2
+
+Notes:
+(1) Taking into account of the partial exercise of the Offer Size Adjustment Option and before any exercise of the Over-
+allotment Option, and assuming no Shares are issued under the Equity Incentive Schemes. The percentage figures are subject
+to rounding adjustments.
+(2) The Company may not issue Shares prior to the indicated date except otherwise permitted by the Listing Rules. For
+details of the Lock-up Arrangement of the Company, please refer to the paragraph headed “Underwriting — Underwriting
+Arrangements and Expenses — Undertakings to the Stock Exchange Pursuant to the Listing Rules — Undertakings by the
+Company” in the Prospectus.
+(3) For details of the Lock-up Arrangement of the Controlling Shareholders, please refer to the paragraph headed “Underwriting
+— Underwriting Arrangements and Expenses — Undertakings to the Stock Exchange Pursuant to the Listing Rules —
+Undertakings by the Controlling Shareholders” in the Prospectus.
+(4) For details of all existing Shareholders, please refer to the paragraph headed “History, Reorganisation, and Corporate
+Structure — Capitalization of our Company” in the Prospectus. For details of the Lock-up Arrangement of the existing
+Shareholders of the Company, please refer to the paragraph headed “Underwriting — Underwriting Arrangements and
+Expenses — Lock-up Restrictions of Existing Shareholders” in the Prospectus.
+In addition, all the Pre-IPO Investors that are sophisticated investors (i.e., Tencent Entities, Joy Capital Entities, Sequoia
+China and FountainVest Entity) will retain at least an aggregate of 50% of their investment at the time of Listing for a period
+of at least six months following the Listing, in accordance with the Stock Exchange’s Guidance Letter HKEX-GL93-18.
+(5) For details of the lock-up arrangement of the Cornerstone Investors, please refer to the paragraph headed “Cornerstone
+Investors — Restriction on Disposals by the Cornerstone Investors” in the Prospectus.
+
+
+--- page 22 ---
+24
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC
+OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure and the
+Global Offering — Conditions of the Global Offering” in the Prospectus, 9,305 valid applications
+made by the public through the White Form eIPO service and the CCASS EIPO service will be
+conditionally allocated on the basis set out below:
+NO. OF OFFER
+SHARES
+APPLIED FOR
+NO. OF VALID
+APPLICATIONS BASIS OF ALLOTMENT/BALLOT
+APPROXIMATE
+PERCENTAGE
+ALLOTTED
+OF THE TOTAL
+NO. OF OFFER
+SHARES
+APPLIED FOR
+POOL A
+100 4,761 100 Offer Shares 100.00%
+200 782 100 Offer Shares plus 704 out of 782 to receive additional 100 Offer Shares 95.01%
+300 1,367 100 Offer Shares plus 1,253 out of 1,367 to receive additional 100 Offer Shares 63.89%
+400 163 100 Offer Shares plus 155 out of 163 to receive additional 100 Offer Shares 48.77%
+500 390 200 Offer Shares 40.00%
+600 121 200 Offer Shares plus 47 out of 121 to receive additional 100 Offer Shares 39.81%
+700 59 200 Offer Shares plus 39 out of 59 to receive additional 100 Offer Shares 38.01%
+800 47 200 Offer Shares plus 46 out of 47 to receive additional 100 Offer Shares 37.23%
+900 29 300 Offer Shares 33.33%
+1,000 355 300 Offer Shares plus 118 out of 355 to receive additional 100 Offer Shares 33.32%
+1,500 570 300 Offer Shares plus 510 out of 570 to receive additional 100 Offer Shares 25.96%
+2,000 126 400 Offer Shares 20.00%
+2,500 37 400 Offer Shares plus 28 out of 37 to receive additional 100 Offer Shares 19.03%
+3,000 92 500 Offer Shares 16.67%
+3,500 24 500 Offer Shares plus 18 out of 24 to receive additional 100 Offer Shares 16.43%
+4,000 29 600 Offer Shares 15.00%
+4,500 15 600 Offer Shares plus 11 out of 15 to receive additional 100 Offer Shares 14.96%
+5,000 62 700 Offer Shares 14.00%
+6,000 78 800 Offer Shares 13.33%
+7,000 18 900 Offer Shares 12.86%
+8,000 19 1,000 Offer Shares 12.50%
+9,000 10 1,100 Offer Shares 12.22%
+10,000 68 1,200 Offer Shares 12.00%
+20,000 27 2,300 Offer Shares 11.50%
+30,000 15 3,400 Offer Shares 11.33%
+40,000 6 4,500 Offer Shares 11.25%
+50,000 10 5,600 Offer Shares 11.20%
+70,000 5 7,800 Offer Shares 11.14%
+
+
+--- page 23 ---
+25
+NO. OF OFFER
+SHARES
+APPLIED FOR
+NO. OF VALID
+APPLICATIONS BASIS OF ALLOTMENT/BALLOT
+APPROXIMATE
+PERCENTAGE
+ALLOTTED
+OF THE TOTAL
+NO. OF OFFER
+SHARES
+APPLIED FOR
+80,000 1 8,800 Offer Shares 11.00%
+90,000 1 9,800 Offer Shares 10.89%
+100,000 7 10,800 Offer Shares 10.80%
+9,294 Total number of Pool A successful applicants: 9,294
+POOL B
+200,000 10 169,800 Offer Shares 84.90%
+500,000 1 424,200 Offer Shares 84.84%
+11 Total number of Pool B successful applicants: 11
+The final number of Offer Shares under the Hong Kong Public Offering is 4,244,500 Offer Shares,
+representing 10% of the Offer Shares under the Global Offering.
+
+
+--- page 24 ---
+26
+RESULTS OF ALLOCATIONS
+The final Offer Price, the level of indications of interests in the International Offering, the level of
+applications in the Hong Kong Public Offering and the basis of allocation of the Hong Kong Offer
+Shares are also made available on the Company’s website at www.tuhu.cn and the website of the
+Stock Exchange at www.hkexnews.hk .
+The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
+successfully applied for through the White Form eIPO service or through the CCASS EIPO
+service, including the Hong Kong identity card numbers, passport numbers or Hong Kong business
+registration numbers of successful applicants (where applicable) and the number of Hong Kong
+Offer Shares, successfully applied for, will be made available at the times and dates and in the
+manner specified below:
+• announcement of the Hong Kong Public Offering to be published on the websites of the
+Company and the Stock Exchange at www.tuhu.cn and www.hkexnews.hk , respectively, by no
+later than 9:00 a.m. on Monday, 25 September 2023;
+• results of allocations for the Hong Kong Public Offering will be available at
+www.iporesults.com.hk (alternatively: English https://www.eipo.com.hk/en/Allotment ;
+Chinese https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID” function from 8:00
+a.m. on Monday, 25 September 2023 to 12:00 midnight on Sunday, 1 October 2023; and
+• from the allocation results telephone enquiry line by calling +852 2862 8555 between 9:00 a.m.
+and 6:00 p.m. on Monday, 25 September 2023, Tuesday, 26 September 2023, Wednesday, 27
+September 2023 and Thursday, 28 September 2023.
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by White Form eIPO” in this
+announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong business
+registration numbers/certificate of incorporation numbers/beneficial owner identification codes (if
+such applications are made by nominees as agent for the benefit of another person) whereas those
+displayed in the section headed “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS” in this announcement are provided by CCASS Participants via
+CCASS. Therefore, the identification document numbers shown in the two sections are different in
+nature. Please note that the list of identification document numbers set out in this announcement
+may not be a complete list of successful applicants since only successful applicants whose
+identification document numbers are provided to HKSCC by CCASS Participants are disclosed.
+Applicants with beneficial names only but not identification document numbers are not disclosed
+due to personal privacy issue as elaborated below. Applicants who applied for the Hong Kong Offer
+Shares through their brokers can consult their brokers to enquire about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by White Form
+eIPO” and “Results of Applications Made by Giving Electronic Application Instructions to HKSCC
+via CCASS” are redacted and not all details of applications are disclosed in this announcement.
+
+
+--- page 25 ---
+27
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Assuming the Over-Allotment Option is not exercised Assuming the Over-Allotment Option is fully exercised
+
+Placee
+Number of
+Class A Shares
+subscribed for
+Number of
+Shares held
+upon Listing
+Number of
+Class A Shares
+subscribed
+for as %
+of the total
+number of the
+International
+Offer
+Shares
+(1)
+Number of
+Class A Shares
+subscribed
+for as %
+of the Offer
+Shares Under
+the Global
+Offering
+(1)
+Number
+of Shares
+held upon
+Listing as %
+of the total
+issued share
+capital of the
+Company upon
+Listing
+(1)
+Number of
+Shares held
+upon Listing
+Number of
+Class A Shares
+subscribed
+for as %
+of the total
+number of the
+International
+Offer
+Shares
+(1)
+Number of
+Class A Shares
+subscribed
+for as %
+of the Offer
+Shares Under
+the Global
+Offering
+(1)
+Number
+of Shares
+held upon
+Listing as %
+of the total
+issued share
+capital of the
+Company upon
+Listing
+(1)
+Top 1 8,406,400 8,406,400 22.01 19.81 1.03 8,406,400 18.86 17.22 1.02
+Top 5 33,910,300 193,104,290 88.77 79.89 23.71 193,104,290 76.09 69.47 23.53
+Top 10 42,934,800 202,128,790 112.39 101.15 24.82 202,128,790 96.34 87.96 24.63
+Top 20 44,233,400 203,427,390 115.79 104.21 24.98 203,427,390 99.25 90.62 24.79
+Top 25 44,387,400 203,581,390 116.20 104.58 25.00 203,581,390 99.60 90.94 24.80
+Note:
+(1) Taking into account of the partial exercise of the Offer Size Adjustment Option and assuming no Shares are issued under the
+Equity Incentive Schemes. The percentage figures are subject to rounding adjustments.
+
+
+--- page 26 ---
+28
+• Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Assuming the Over-Allotment Option is not exercised Assuming the Over-Allotment Option is fully exercised
+
+Shareholder
+Number of
+Class A Shares
+subscribed for
+Number of
+Shares held
+upon Listing
+Number of
+Class A Shares
+subscribed
+for as %
+of the total
+number of the
+International
+Offer
+Shares
+(1)
+Number of
+Class A Shares
+subscribed
+for as %
+of the Offer
+Shares Under
+the Global
+Offering
+(1)
+Number
+of Shares
+held upon
+Listing as %
+of the total
+issued share
+capital of the
+Company upon
+Listing
+(1)
+Number of
+Shares held
+upon Listing
+Number of
+Class A Shares
+subscribed
+for as %
+of the total
+number of the
+International
+Offer
+Shares
+(1)
+Number of
+Class A Shares
+subscribed
+for as %
+of the Offer
+Shares Under
+the Global
+Offering
+(1)
+Number
+of Shares
+held upon
+Listing as %
+of the total
+issued share
+capital of the
+Company upon
+Listing
+(1)
+Top 1 7,005,400 158,895,235 18.34 16.50 19.51 158,895,235 15.72 14.35 19.36
+Top 5 7,005,400 412,493,459 18.34 16.50 50.65 412,493,459 15.72 14.35 50.26
+Top 10 7,005,400 562,866,754 18.34 16.50 69.12 562,866,754 15.72 14.35 68.58
+Top 20 11,622,900 717,992,194 30.43 27.38 88.17 717,992,194 26.08 23.81 87.48
+Top 25 28,435,700 753,780,299 74.44 66.99 92.56 753,780,299 63.80 58.26 91.84
+Note:
+(1) Taking into account of the partial exercise of the Offer Size Adjustment Option and assuming no Shares are issued under the
+Equity Incentive Schemes. The percentage figures are subject to rounding adjustments.
+In view of the high concentration of shareholding in a small number of Shareholders,
+Shareholders and prospective investors should be aware that the price of the Class A Shares
+could move substantially even with a small number of Class A Shares traded, and should
+exercise extreme caution when dealing in Class A Shares.
diff --git a/data/extracted_text/09860/allotment_results_summary_2023-06-29_2023062900126.txt b/data/extracted_text/09860/allotment_results_summary_2023-06-29_2023062900126.txt
new file mode 100644
index 0000000..51e6cea
--- /dev/null
+++ b/data/extracted_text/09860/allotment_results_summary_2023-06-29_2023062900126.txt
@@ -0,0 +1,969 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+The Offer Price is HK$12.32 per Offer Share (exclusive of brokerage of 1%, SFC transaction
+levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy of
+0.00015%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$12.32 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of underwriting commissions and
+other estimated expenses payable by the Company in connection with the Global Offering,
+are estimated to be approximately HK$83.9 million (assuming the Over-allotment Option is
+not exercised). The Company intends to apply such net proceeds from the Global Offering
+in the manner as set out in the paragraph headed “Net Proceeds from the Global Offering ”
+in this announcement.
+• If the Over-allotment Option is exercised in full, the Company will receive additional net
+proceeds of approximately HK$58.8 million for 4,978,500 additional Offer Shares to be
+allotted and issued upon the exercise of the Over-allotment Option, which will be allocated
+on a pro rata basis according to the use of proceeds as set out in the paragraph headed “Net
+Proceeds from the Global Offering ” in this announcement.
+Applications and Indications of Interest Received under the Hong Kong Public Offering
+• The Hong Kong Offer Shares initially available under the Hong Kong Public Offering
+have been slightly over-subscribed. A total of 1,521 valid applications have been received
+under the Hong Kong Public Offering through the HK eIPO White Form service and
+the CCASS EIPO service for a total of 3,524,500 Hong Kong Offer Shares, representing
+approximately 1.06 times of the total number of 3,320,000 Offer Shares initially available
+for subscription under the Hong Kong Public Offering.
+• As the over-subscription in the Hong Kong Public Offering is less than 15 times, the
+reallocation procedures as described in the section headed “Structure of the Global
+Offering ” in the Prospectus have not been applied and no International Offer Shares have
+been reallocated from the International Offering to the Hong Kong Public Offering. The
+final number of Hong Kong Offer Shares is 3,320,000 Shares, representing approximately
+10% of the total number of Offer Shares initially available under the Global Offering, and
+being allocated to 1,521 successful applicants under the Hong Kong Public Offering. A
+total number of 1,037 applicants have been allotted with one board lot of Offer Shares,
+representing approximately 68.18% of the Shareholders who were allocated the Offer
+Shares under the Hong Kong Public Offering, totaling 518,500 Shares, representing
+approximately 15.62% of total Offer Shares under the Hong Kong Public Offering.
+
+
+--- page 2 ---
+4
+International Offering
+• The Offer Shares initially offered under the International Offering have been moderately
+oversubscribed, representing approximately 1.8 times of the total number of Offer Shares
+initially available under the International Offering. The final number of Offer Shares
+under the International Offering is 29,872,500 Shares, representing approximately 90% of
+the total number of Offer Shares initially available under the Global Offering (before any
+exercise of the Over-allotment Option). There has been an over-allocation of 4,978,500
+Offer Shares. Please refer to the section headed “International Offering – Over-allotment
+Option ” in this announcement.
+• There are a total of 108 placees under the International Offering, among which (i) 80
+placees, representing 74.1% of the total number of placees under the International Offering,
+have been allotted five or fewer board lots of Offer Shares, totaling 45,000 Shares,
+representing 0.13% of the total number of Offer Shares available under the International
+Offering; and (ii) 70 placees have been allotted one board lot of Offer Shares, representing
+approximately 64.8% of the total number of placees under the International Offering,
+totaling 35,000 Shares, representing approximately 0.10% of the total number of the Offer
+Shares available under the International Offering (assuming the Over-allotment Option is
+not exercised).
+Cornerstone Investors
+• Based on the Offer Price of HK$12.32 per Offer Share (exclusive of brokerage of 1%,
+SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%), pursuant to the Cornerstone Investment Agreements,
+the Company ’s Cornerstone Investors have subscribed for a total of 23,647,000 Shares,
+representing in aggregate approximately 3.27% of the issued share capital of the Company
+immediately upon completion of the Global Offering (assuming the Over-allotment
+Option is not exercised). Please refer to the section headed “Cornerstone Investors { Our
+Cornerstone Investors ” in the Prospectus for further details.
+• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted
+to the Company, a waiver from strict compliance with Rules 9.09(b), 10.03 and 10.04
+of the Listing Rules and its consent under paragraph 5(2) of Appendix 6 to the Listing
+Rules (the “Placing Guidelines ”), to permit Corelink (as defined in the Prospectus and an
+existing Shareholder of the Company) to subscribe for Offer Shares in the Global Offering
+as a Cornerstone Investor.
+
+
+--- page 3 ---
+5
+Consent under Paragraph 5(2) of the Placing Guidelines and Rule 10.04 of the Listing
+Rules
+• Certain Offer Shares were placed to Corelink, Reach Sight Limited ( “Reach Sight ”) and
+BlackRock Health Sciences Term Trust (formerly known as BlackRock Health Sciences
+Trust II, “BlackRock Health Trust ”), who are existing Shareholders of the Company. The
+Company has applied to the Stock Exchange for, and the Stock Exchange has granted, (i)
+waiver from strict compliance with Rules 9.09(b), 10.03 and 10.04 of the Listing Rules
+and consent under paragraph 5(2) of the Placing Guidelines to permit the Company to
+allocate such Offer Shares to Corelink as a Cornerstone Investor and (ii) waiver from strict
+compliance with Rule 10.04 of the Listing Rules and consent under paragraph 5(2) of the
+Placing Guidelines to permit the Company to allocate such Offer Shares to Reach Sight
+and BlackRock Health Trust as placees, as set out in the section headed “Consent under
+Paragraph 5(2) of the Placing Guidelines and Rule 10.04 of the Listing Rules ” in this
+announcement.
+• Save as disclosed above, to the best knowledge, information and belief of the Directors, (i)
+none of the Offer Shares subscribed for by public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering had been financed, directly or indirectly,
+by the Company, any of the Directors, the chief executive, the Controlling Shareholders,
+substantial Shareholders or existing Shareholders of the Company or any of its subsidiaries
+or their respective close associates; (ii) no rebate has been, directly or indirectly, provided
+by the Company, the Directors, chief executive of the Company, Controlling Shareholders,
+substantial Shareholders of the Company, existing Shareholders of the Company or
+any of their subsidiaries or their respective close associates or syndicate members or
+any other brokers or underwriters to any public Shareholders in the Hong Kong Public
+Offering or placees in the International Offering; (iii) none of the public Shareholders in
+the Hong Kong Public Offering and placees in the International Offering who subscribed
+for the Offer Shares are accustomed to taking instructions from the Company, any of
+the Directors, chief executive, the Controlling Shareholders, substantial Shareholders or
+existing Shareholders of the Company or any of its subsidiaries or their respective close
+associates in relation to the acquisition, disposal, voting or other disposition of the Offer
+Shares registered in his/her/its name or otherwise held by him/her/it; (iv) the consideration
+payable by the public Shareholders in the Hong Kong Public Offering and placees in the
+International Offering for each Share subscribed for or purchased by them is the same
+as the final Offer Price as determined by the Company, in additional to brokerage of
+1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock
+Exchange trading fee of 0.00565%; and (v) there are no side agreements or arrangements
+between the Company, any of the Directors, chief executive, the Controlling Shareholders,
+substantial Shareholders, existing Shareholders or any of the Company ’s subsidiaries or
+their respective close associates, on one hand, and any public subscriber or placee who has
+subscribed for the Offer Shares on the other hand.
+
+
+--- page 4 ---
+6
+• Save as disclosed in the above sections headed “International Offering { Cornerstone
+Investors ” and “International Offering { Consent under Paragraph 5(2) of Placing
+Guidelines and Rule 10.04 of the Listing Rules ” of this announcement, to the best
+knowledge, information and belief of the Directors, no Offer Shares placed by or through
+the Overall Coordinators or the Underwriters under the Global Offering have been placed
+with applicants who are core connected persons (as defined in the Listing Rules) or
+directors of the Company, or to any persons set out in paragraph 5(1) or 5(2) of the Placing
+Guidelines, whether in their own names or through nominees.
+Over-allotment Option
+• In connection with the Global Offering, the Company has granted the Over-allotment
+Option to the International Underwriters, exercisable by the Overall Coordinators at their
+sole and absolute discretion on behalf of the International Underwriters at any time from
+the Listing Date until Sunday, July 23, 2023, being the 30th day after the last day for
+lodging applications under the Hong Kong Public Offering. Pursuant to the Over-allotment
+Option, the Overall Coordinators have the right to require the Company to allot and issue,
+at the Offer Price, up to an aggregate of additional 4,978,500 Shares representing in
+aggregate approximately 15% of the number of the Offer Shares initially available under
+the Global Offering to cover over-allocations in the International Offering, if any.
+• There has been an over-allocation of 4,978,500 Offer Shares in the International Offering,
+which will be settled using Shares to be borrowed under the Stock Borrowing Agreement
+between each of Pearl Group Limited and Corelink Group Limited and Morgan Stanley
+& Co. International plc. Such borrowed Shares will be settled by exercising the Over-
+allotment Option in full or in part, or by making purchases in the secondary market at
+prices that do not exceed the Offer Price, or by a combination of these means. In the event
+the Over-allotment Option is exercised, an announcement will be made on the Company ’s
+website at www.adicon.com.cn and on the Stock Exchange ’s website at www.hkexnews.hk .
+As of the date of this announcement, the Over-allotment Option has not been exercised.
+
+
+--- page 5 ---
+7
+Lock-up Obligations
+• The Company, the Controlling Shareholders (Pearl Group Limited), all the other Pre-IPO
+investors and the Cornerstone Investors are subject to certain lock-up obligations as set out
+in the paragraph headed “Lock-up Obligations ” in this announcement.
+Results of Allocations
+• The final Offer Price, the level of indications of interest in the International Offering, the
+level of applications in the Hong Kong Public Offering and the basis of allocation of the
+Hong Kong Offer Shares are published on the Company ’s website at www.adicon.com.cn
+and the website of the Stock Exchange at www.hkexnews.hk on Thursday, June 29, 2023.
+• The results of allocations and the Hong Kong identity card/passport/Hong Kong business
+registration/certificate of incorporation numbers of successful applicants under the Hong
+Kong Public Offering will be available at the times and date and in the manner specified
+below:
+• in the announcement to be posted on the Company ’s website at www.adicon.com.cn
+and the Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on
+Thursday, June 29, 2023;
+• from the “IPO Results ” function in the IPO App and the designated results of
+allocations website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult
+with a “search by ID ” function on a 24-hour basis from 8:00 a.m. on Thursday, June
+29, 2023 to 12:00 midnight on Wednesday, July 5, 2023;
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between
+9:00 a.m. and 6:00 p.m. from Thursday, June 29, 2023 to Tuesday, July 4, 2023
+(excluding Saturday, Sunday and public holiday in Hong Kong).
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by HK
+eIPO White Form ” in this announcement refer to Hong Kong identity card numbers/
+passport numbers/Hong Kong business registration numbers/certificate of incorporation
+numbers/beneficial owner identification codes (if such applications are made by nominees
+as agent for the benefit of another person) whereas those displayed in the section headed
+“Results of Applications Made by Giving Electronic Application Instructions to HKSCC
+via CCASS ” in this announcement are provided by CCASS Participants via CCASS.
+Therefore, the identification document numbers shown in the two sections are different in
+nature.
+
+
+--- page 6 ---
+8
+• Please note that the list of identification document numbers set out in this announcement
+may not be a complete list of successful applicants since only successful applicants whose
+identification document numbers are provided to HKSCC by CCASS Participants are
+disclosed. Applicants with beneficial names only but not identification document numbers
+are not disclosed due to personal privacy issue as elaborated below. Applicants who applied
+for the Hong Kong Offer Shares through their brokers can consult their brokers to enquire
+about their application results.
+• Since applications are subject to personal information collection statements, beneficial
+owner identification codes displayed in the sections headed “Results of Applications Made
+by HK eIPO White Form ” and “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” are redacted and not all details of
+applications are disclosed in this announcement.
+Despatch/Collection of Share Certificates/e-Auto Refund Payment Instructions/Refund
+Cheques
+• Applicants who have applied for 1,000,000 Hong Kong Offer Shares or more through the
+HK eIPO White Form service and whose applications are wholly or partially successful
+may collect Share certificate(s) (where applicable) in person from the Hong Kong Share
+Registrar, Tricor Investor Services Limited, at 17/F, Far East Finance Centre, 16 Harcourt
+Road, Hong Kong, from 9:00 a.m. to 1:00 p.m. on Thursday, June 29, 2023, or such
+other place or date as notified by the Company in the newspapers as the date of despatch/
+collection of Share certificates/e-Auto Refund payment instructions/refund cheques.
+• Applicants being individuals who are eligible for personal collection must not authorize any
+other person to collect on their behalf. If you are a corporate applicant which is eligible for
+personal collection, your authorized representative must bear a letter of authorization from
+your corporation stamped with your corporation ’s chop. Both individuals and authorized
+representatives must produce evidence of identity acceptable to our Hong Kong Share
+Registrar at the time of collection.
+• Applicants who apply for less than 1,000,000 Hong Kong Offer Shares through the HK
+eIPO White Form service, will have their Share certificate(s) (where applicable) sent to
+the address specified in their application instructions on or before Thursday, June 29, 2023
+by ordinary post and at their own risk.
+• Share certificates for Hong Kong Offer Shares allotted to applicants who applied through
+the HK eIPO White Form service, which are either not available for personal collection,
+or which are available but are not collected in person within the time specified for
+collection, are expected to be despatched by ordinary post to those entitled to the addresses
+specified in the relevant applications at their own risk on or before Thursday, June 29,
+2023.
+
+
+--- page 7 ---
+9
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC will have their Share certificate(s) issued in the name of HKSCC
+Nominees Limited and deposited directly into CCASS to be credited to their CCASS
+Investor Participant stock accounts or the stock accounts of their designated CCASS
+Participant who gave electronic application instructions on their behalf on Thursday,
+June 29, 2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Offer Shares allocated to
+them with that CCASS Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS may also check the number of Hong Kong Offer
+Shares allocated to them and the amount of refund monies (if any) payable to them
+via the CCASS Phone System and the CCASS Internet System (under the procedures
+contained in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time
+to time). Immediately after the crediting of the Hong Kong Offer Shares to the CCASS
+Investor Participant stock accounts and the credit of refund monies to the CCASS Investor
+Participants ’ bank accounts, HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the amount of Hong Kong Offer Shares credited
+to their CCASS Investor Participant stock accounts and the refund amount credited to their
+respective designated bank accounts (if any).
+• For applicants who have applied for the Hong Kong Offer Shares through the HK eIPO
+White Form service and paid the application monies through a single bank account,
+refund monies (if any) will be despatched to that bank account in the form of e-Auto
+Refund payment instructions. For applicants who have applied for the Hong Kong Offer
+Shares through the HK eIPO White Form service and paid the application monies
+through multiple bank accounts, refund monies (if any) will be despatched to the addresses
+specified in your application instructions in the form of refund cheque(s) in favour of the
+applicant (or, in the case of joint applications, the first-named applicant) by ordinary post
+and at their own risk on or before Thursday, June 29, 2023.
+• Refund monies (if any) for applicants who applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
+designated bank accounts or the designated bank accounts of their broker or custodian on
+Thursday, June 29, 2023.
+• Share certificates will only become valid at 8:00 a.m. on Friday, June 30, 2023, provided
+that the Global Offering has become unconditional in all respects and neither the Hong
+Kong Underwriting Agreement nor the International Underwriting Agreements have been
+terminated in accordance with their respective terms at or before that time. Investors who
+trade Shares on the basis of publicly available allocation details or prior to the receipt of
+the Share certificates or prior to the Share certificates becoming valid do so entirely at their
+own risk.
+• No temporary document of title will be issued in respect of the Shares. No receipt will be
+issued for sums paid on application.
+
+
+--- page 8 ---
+10
+PUBLIC FLOAT
+• The Directors confirm that (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 (as defined in the Listing Rules)
+of the Company immediately after the completion of the Global Offering; (iii) the three
+largest public Shareholders do not hold more than 50% of the Shares held in public
+hands at the time of the Listing in compliance with Rules 8.08(3) and 8.24 of the Listing
+Rules; (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 and (v) the public float of the Company will be
+39.44% (assuming the Over-allotment Option is not exercised) or 39.86% (assuming the
+Overallotment Option is exercised in full) upon Listing, which satisfies the minimum
+prescribed percentage of public shareholders required by Rule 8.08(1) of the Listing Rules.
+COMMENCEMENT OF DEALINGS
+Assuming that the Global Offering becomes unconditional in all respects at or before 8:00 a.m.
+on Friday, June 30, 2023 (Hong Kong time), dealings in the Shares on the Main Board of the
+Stock Exchange are expected to commence at 9:00 a.m. on Friday, June 30, 2023 (Hong Kong
+time). The Shares will be traded in board lots of 500 Shares each. The stock code of the Shares
+is 9860.
+In view of the 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.
+
+
+--- page 9 ---
+11
+OFFER PRICE
+The Offer Price is HK$12.32 per Offer Share (exclusive of brokerage of 1%, SFC transaction levy
+of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$12.32 per Offer Share, the net proceeds from the Global Offering
+to be received by the Company, after deduction of underwriting commissions and other estimated
+expenses payable by the Company in connection with the Global Offering, are estimated to be
+approximately HK$83.9 million (assuming the Over-allotment Option is not exercised).
+The Company intends to apply the net proceeds as follows:
+• approximately HK$12.6 million (representing 15% of the net proceeds) for strengthening
+routine and esoteric testing capabilities, including research and development and sales and
+marketing capabilities;
+• approximately HK$21.0 million (representing 25% of the net proceeds) for network
+expansion through establishing new laboratories, partnership investments and development of
+new channels;
+• approximately HK$21.0 million (representing 25% of the net proceeds) for business
+development activities to form strategic collaborations with industry participants as well as
+strategic and bolt-on acquisitions;
+• approximately HK$12.6 million (representing 15% of the net proceeds) for upgrade and
+expansion of existing laboratories;
+• approximately HK$8.4 million (representing 10% of the net proceeds) for investment in
+operating infrastructure including logistics facilities, artificial intelligence technologies and
+IT infrastructure; and
+• approximately HK$8.4 million (representing 10% of the net proceeds) for working capital
+and general corporate purpose.
+If the Over-allotment Option is exercised in full, the Company will receive additional net
+proceeds of approximately HK$58.8 million for 4,978,500 additional Offer Shares to be issued
+and allotted upon the exercise of the Over-allotment Option. In the event that the Over-allotment
+Option is exercised in full, the Company intends to adjust its allocation of the net proceeds for
+the above purposes on a pro rata basis. To the extent that the net proceeds of the Global Offering
+are not immediately used for the above purposes and to the extent permitted by applicable laws
+and regulations, the Company will only place such net proceeds into short-term interest-bearing
+accounts with licensed banks and/or authorized financial institutions (as defined under the
+Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)). The Company will
+issue an appropriate announcement if there is any material change to the above proposed use of
+proceeds. For further information, please refer to the section headed “Future Plans and Use of
+Proceeds ” in the Prospectus.
+
+
+--- page 10 ---
+12
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED UNDER THE HONG
+KONG PUBLIC OFFERING
+The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
+slightly over-subscribed. A total of 1,521 valid applications have been received under the Hong
+Kong Public Offering through the HK eIPO White Form service and the CCASS EIPO service
+for a total of 3,524,500 Hong Kong Offer Shares, representing approximately 1.06 times of the
+total number of 3,320,000 Offer Shares initially available for subscription under the Hong Kong
+Public Offering, among which:
+• 1,521 valid applications for a total of 3,524,500 Hong Kong Offer Shares were for the Hong
+Kong Public Offering with an aggregate subscription amount, based on the Offer Price of
+HK$12.32 per Offer Share (excluding brokerage of 1.0%, SFC transaction levy of 0.0027%,
+AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%), of
+HK$5,000,000 or less (equivalent to approximately 2.12 times of the 1,660,000 Shares
+initially available for allocation in pool A of the Hong Kong Public Offering); and
+• There were no valid application for Hong Kong Offer Shares with an aggregate subscription
+amount based on the Offer Price of HK$12.32 per Offer Share (excluding brokerage of 1.0%,
+SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%) of more than HK$5,000,000.
+No application has been rejected due to dishonored payments. No application has been rejected
+due to invalid application. No multiple or suspected multiple application has been identified and
+rejected. No application for more than 1,660,000 Hong Kong Offer Shares (being 50% of the
+3,320,000 Hong Kong Offer Shares initially available under the Hong Kong Public Offering) has
+been identified.
+As the over-subscription in the Hong Kong Public Offering is less than 15 times, the reallocation
+procedures as described in the section headed “Structure of the Global Offering ” in the Prospectus
+have not been applied and no International Offer Shares have been reallocated from the
+International Offering to the Hong Kong Public Offering. The final number of Hong Kong Offer
+Shares is 3,320,000 Shares, representing approximately 10% of the total number of Offer Shares
+initially available under the Global Offering, and being allocated to 1,521 successful applicants
+under the Hong Kong Public Offering. A total number of 1,037 applicants have been allotted
+with one board lot of Offer Shares, representing approximately 68.18% of the Shareholders who
+were allocated the Offer Shares under the Hong Kong Public Offering, totaling 518,500 Shares,
+representing approximately 15.62% of total Offer Shares under the Hong Kong Public Offering.
+The Hong Kong Offer Shares offered in the Hong Kong Public Offering were conditionally
+allocated on the basis set out in the paragraph headed “Basis of Allocation under the Hong Kong
+Public Offering ” below.
+
+
+--- page 11 ---
+13
+INTERNATIONAL OFFERING
+• The Offer Shares initially offered under the International Offering have been moderately
+oversubscribed, representing approximately 1.8 times of the total number of Offer Shares
+initially available under the International Offering. The final number of Offer Shares under
+the International Offering is 29,872,500 Shares, representing approximately 90% of the total
+number of Offer Shares initially available under the Global Offering (before any exercise of
+the Over-allotment Option). There has been an over-allocation of 4,978,500 Offer Shares.
+Please refer to the section headed “International Offering – Over-allotment Option ” in this
+announcement.
+• There are a total of 108 placees under the International Offering, among which (i) 80 placees,
+representing 74.1% of the total number of placees under the International Offering, have
+been allotted five or fewer board lots of Offer Shares, totaling 45,000 Shares, representing
+0.13% of the total number of Offer Shares available under the International Offering; and
+(ii) 70 placees have been allotted one board lot of Offer Shares, representing approximately
+64.8% of the total number of placees under the International Offering, totaling 35,000 Shares,
+representing approximately 0.10% of the total number of the Offer Shares available under the
+International Offering (assuming the Over-allotment Option is not exercised).
+Cornerstone Investors
+Based on the Offer Price of HK$12.32 per Offer Share (exclusive of brokerage of 1%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy
+of 0.00015%) and pursuant to the Cornerstone Investment Agreements as disclosed in the section
+headed “Cornerstone Investors { Our Cornerstone Investors ” in the Prospectus, the number of
+Offer Shares subscribed for by the Cornerstone Investors is determined as set out below:
+Cornerstone Investor
+(each as defined below)
+Investment
+amount
+Number of Offer
+Shares (rounded
+down to nearest
+whole board lot of
+500 Shares)
+Approximate % of total
+number of Offer Shares
+Approximate % of total issued
+share capital immediately
+following the completion of the
+Global Offering
+Assuming the
+Over-allotment
+Option is not
+exercised
+Assuming the
+Over-allotment
+Option is
+exercised in full
+Assuming the
+Over-allotment
+Option is not
+exercised
+Assuming the
+Over-allotment
+Option is
+exercised in full
+(US$ in million)
+MR Global 15.00 9,542,500 28.75% 25.00% 1.32% 1.31%
+Snibe Hong Kong 10.00 6,361,500 19.17% 16.67% 0.88% 0.87%
+Fosun Diagnostics 5.00 3,180,500 9.58% 8.33% 0.44% 0.44%
+Timestar Elite 3.79 2,410,500 7.26% 6.32% 0.33% 0.33%
+Corelink 3.38 2,152,000 6.48% 5.64% 0.30% 0.30%
+37.17 23,647,000 71.24% 61.95% 3.27% 3.25%
+
+
+--- page 12 ---
+14
+The Cornerstone Placing forms part of the International Offering and the Cornerstone Investors
+will not acquire any Offer Shares under the Global Offering (other than pursuant to the Cornerstone
+Investment Agreements). The Offer Shares to be subscribed by the Cornerstone Investors will rank
+pari passu in all respects with the fully paid Shares in issue following the completion of the Global
+Offering and, save for the Shares subscribed for by Corelink (an existing Shareholder, a company
+wholly-owned by Mr. LIN Jixun, one of our Founders and a non-executive Director), will be
+counted towards the public float of our Company under Rule 8.08 of the Listing Rules.
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to the
+Company, a waiver from strict compliance with Rules 9.09(b), 10.03 and 10.04 of the Listing
+Rules and its consent under paragraph 5(2) of Appendix 6 to the Listing Rules (the “Placing
+Guidelines ”), to permit Corelink to subscribe for Offer Shares in the Global Offering as a
+Cornerstone Investor.
+To the best knowledge of the Company, (i) save for Corelink, each Cornerstone Investor (and, for
+the Cornerstone Investor who will subscribe for our Offer Shares through a qualified domestic
+institutional investor ( “QDII”), such QDII and the Cornerstone Investor) is an Independent Third
+Party and is not our connected person (as defined in the Listing Rules) nor an existing Shareholder;
+(ii) each of the Cornerstone Investors is independent from each other; (iii) save for Corelink,
+none of the Cornerstone Investors are accustomed to taking instructions from our Company, the
+Directors, the chief executive of the Company, Controlling Shareholders, substantial Shareholders,
+or existing Shareholders or any of its subsidiaries or their respective close associates in relation
+to the acquisition, disposal, voting or other disposition of the Offer Shares; (iv) save for Corelink,
+none of the subscriptions made by the Cornerstone Investors was financed by the Company, the
+Directors, the chief executive of the Company, Controlling Shareholders, substantial Shareholders,
+other existing Shareholders or any of its subsidiaries or their respective close associates; and (v)
+each Cornerstone Investor has confirmed that their subscriptions under the Cornerstone Placing
+would be financed by their own internal financial resources and/or the financial resources of their
+ultimate beneficial owners, and that they have sufficient funds to settle their respective investments
+under the Cornerstone Placing.
+To the best knowledge of the Company and as confirmed by the Cornerstone Investors, their
+subscription pursuant to the relevant Cornerstone Investment Agreements would be financed by
+their own internal resources. To the extent that any Cornerstone Investor has engaged a QDII to
+subscribe for the relevant Offer Shares on its behalf, such Cornerstone Investor will procure the
+QDII to comply with the terms of its Cornerstone Investment Agreement in order to ensure the
+compliance of such Cornerstone Investors with its obligations under the Cornerstone Investment
+Agreement. For Cornerstone Investors whose shareholders are listed on any stock exchange, they
+have confirmed that no approval is required from the relevant stock exchange and their shareholders
+for entering into the investment contemplated under the applicable Cornerstone Investment
+Agreement.
+Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at any
+time during the period of six months from and including the Listing Date (the “Lock-up Period ”),
+dispose of any of the Offer Shares they have purchased pursuant to the relevant Cornerstone
+Investment Agreements, save for certain limited circumstances, such as transfers to any of its
+wholly-owned subsidiaries who will be bound by the same obligations of such Cornerstone
+Investor, including the Lock-up Period restriction.
+
+
+--- page 13 ---
+15
+Please refer to the section headed “Cornerstone Investors { Our Cornerstone Investors ” in the
+Prospectus for further details relating to the Cornerstone Investors.
+Consent under Paragraph 5(2) of the Placing Guidelines and Rule 10.04 of the Listing Rules
+Certain Offer Shares were placed to Corelink, Reach Sight and BlackRock Health Trust, who are
+existing Shareholders of the Company. The Company has applied to the Stock Exchange for, and
+the Stock Exchange has granted, (i) waiver from Rules 9.09(b), 10.3 and 10.4 of the Listing Rules
+and and its consent under paragraph 5(2) of Placing Guidelines to permit the Company to allocate
+such Offer Shares to Corelink as set out below and (ii) waiver from strict compliance with Rule
+10.04 of the Listing Rules and its consents under paragraph 5(2) of the Placing Guidelines to
+permit the Company to allocate such Offer Shares to Reach Sight and BlackRock Health Trust as
+set out below.
+Placee Relationship with the Company
+Current
+shareholding
+in the
+Company held
+by itself or
+its associate
+(Approximate
+% of the
+Company ’s
+issued share
+capital)
+Number of
+Shares to be
+subscribed
+under the
+Global
+Offering
+(Approximate
+% of the total
+Offer Shares
+initially
+available
+under the
+Global
+Offering) (1)
+Number of
+Shares held
+by itself or its
+close associate
+immediately
+following the
+completion
+of the Global
+Offering
+(Approximate
+% of the
+Company ’s
+issued share
+capital) (1)
+Corelink Group Limited an existing Shareholder, a company wholly-owned
+ by Mr. LIN Jixun, one of our Founders and a
+ non-executive Director
+87,909,994
+(12.45%)
+2,152,000
+(6.48%)
+90,061,994
+(12.45%)
+BlackRock Health
+ Sciences Term
+ Trust (formerly
+ known as
+ BlackRock
+ Health Sciences
+ Trust II)
+An existing Shareholder, together with BlackRock
+ Health Sciences Master Unit Trust, another
+ existing Shareholder of the Company, are funds
+ ( “BlackRock Funds ”) managed by investment
+ subsidiaries of BlackRock, Inc. ( “BlackRock ”)
+ which has discretionary investment management power
+ over the BlackRock Funds. BlackRock is listed on
+ the New York Stock Exchange (NYSE: BLK). As
+ of December 31, 2022, the firm managed
+ approximately US$8.6 trillion in assets on behalf of
+ investors worldwide. BlackRock Funds are independent
+ third parties of our Company.
+10,696,226
+(1.51%)
+1,750,000
+(5.27%)
+12,446,226
+(1.72%)
+Reach Sight Limited an existing Shareholder, an investment holding company
+ incorporated in BVI, is wholly-owned by Cenova
+ China Healthcare Fund IV, L.P., which is an exempted
+ limited partnership registered in the Cayman Islands.
+ Cenova China Healthcare GP IV Limited, a Cayman
+ Islands exempted company, is the general partner of
+ Cenova China Healthcare Fund IV, L.P.. Cenova
+ China Healthcare GP IV Limited is 65% owned by
+ Mr. WU Jun, an independent third party of our Company.
+5,995,643
+(0.85%)
+310,000
+(0.93%)
+6,305,643
+(0.87%)
+Note:
+(1) Assuming that the Over-allotment Option is not exercised.
+
+
+--- page 14 ---
+16
+Save as disclosed above, to the best knowledge, information and belief of the Directors, (i) none
+of the Offer Shares subscribed for by public Shareholders in the Hong Kong Public Offering and
+placees in the International Offering had been financed, directly or indirectly, by the Company,
+any of the Directors, the chief executive, the Controlling Shareholders, substantial Shareholders or
+existing Shareholders of the Company or any of its subsidiaries or their respective close associates;
+(ii) no rebate has been, directly or indirectly, provided by the Company, the Directors, chief
+executive of the Company, Controlling Shareholders, substantial Shareholders of the Company,
+existing Shareholders of the Company or any of their subsidiaries or their respective close
+associates or syndicate members or any other brokers or underwriters to any public Shareholders
+in the Hong Kong Public Offering or placees in the International Offering; (iii) none of the public
+Shareholders in the Hong Kong Public Offering and placees in the International Offering who
+subscribed for the Offer Shares are accustomed to taking instructions from the Company, any of
+the Directors, chief executive, the Controlling Shareholders, substantial Shareholders or existing
+Shareholders of the Company or any of its subsidiaries or their respective close associates in
+relation to the acquisition, disposal, voting or other disposition of the Offer Shares registered
+in his/her/its name or otherwise held by him/her/it; (iv) the consideration payable by the public
+Shareholders in the Hong Kong Public Offering and placees in the International Offering for each
+Share subscribed for or purchased by them is the same as the final Offer Price as determined
+by the Company, in additional to brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC
+transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%; and (v) there are no
+side agreements or arrangements between the Company, any of the Directors, chief executive, the
+Controlling Shareholders, substantial Shareholders, existing Shareholders or any of the Company ’s
+subsidiaries or their respective close associates, on one hand, and any public subscriber or placee
+who has subscribed for the Offer Shares on the other hand.
+Save as disclosed in the above sections headed “International Offering { Cornerstone Investors ”
+and “International Offering { Consent under Paragraph 5(2) of the Placing Guidelines and Rule
+10.04 of the Listing Rules ” of this announcement, to the best knowledge, information and belief of
+the Directors, no Offer Shares placed by or through the Overall Coordinators or the Underwriters
+under the Global Offering have been placed with applicants who are core connected persons (as
+defined in the Listing Rules) or directors of the Company, or to any persons set out in paragraph
+5(1) or 5(2) of the Placing Guidelines, whether in their own names or through nominees.
+Over-allotment Option
+• In connection with the Global Offering, the Company has granted the Over-allotment Option
+to the International Underwriters, exercisable by the Overall Coordinators at their sole
+and absolute discretion on behalf of the International Underwriters at any time from the
+Listing Date until Sunday, July 23, 2023, being the 30th day after the last day for lodging
+applications under the Hong Kong Public Offering. Pursuant to the Over-allotment Option,
+the Overall Coordinators have the right to require the Company to allot and issue, at the
+Offer Price, up to an aggregate of additional 4,978,500 Shares representing in aggregate
+approximately 15% of the number of the Offer Shares initially available under the Global
+Offering to cover over-allocations in the International Offering, if any.
+• There has been an over-allocation of 4,978,500 Offer Shares in the International Offering and
+such over-allocation will be settled using Shares to be borrowed under the Stock Borrowing
+Agreement between each of Pearl Group Limited and Corelink Group Limited and Morgan
+Stanley & Co. International plc. Such borrowed Shares will be settled by exercising the Over-
+allotment Option in full or in part, or by making purchases in the secondary market at prices
+that do not exceed the Offer Price, or by a combination of these means. In the event the Over-
+allotment Option is exercised, an announcement will be made on the Company ’s website at
+www.adicon.com.cn and on the Stock Exchange ’s website at www.hkexnews.hk . As of the
+date of this announcement, the Over-allotment Option has not been exercised.
+
+
+--- page 15 ---
+17
+LOCK-UP OBLIGATIONS
+The Company, the Controlling Shareholders (Pearl Group Limited), all the other Pre-IPO
+Investors and the Cornerstone Investors are subject to certain lock-up undertakings (the “Lock-up
+Undertakings ”) in respect of the Shares. The major terms of the Lock-up Undertakings are set out
+as follows:
+Name
+Number of
+Shares subject
+to the Lock-up
+Undertakings
+Approximate
+percentage
+of the total
+issued share
+capital
+of the Company
+following the
+completion of the
+Global Offering
+which are
+subject to
+the Lock-up
+Undertakings
+upon Listing
+Last day
+of the Lock-up
+Period
+The Company (1)
+ (subject to lock-up obligations pursuant
+ to the Listing Rules and
+ the Hong Kong Underwriting Agreement)
+N/A N/A December 30, 2023
+The Controlling Shareholder
+ (Pearl Group Limited) (2)
+ (subject to lock-up obligations pursuant
+ to the Listing Rules and
+ the Hong Kong Underwriting Agreement)
+281,541,805 38.92% December 30, 2023
+(First Six-Month
+Period (as defined
+in the Prospectus))
+June 30, 2024
+(Second Six-Month
+Period (as defined
+in the Prospectus))
+Pre-IPO Investors (other than the
+ Controlling Shareholder
+ (Pearl Group Limited)) (3)
+ (subject to lock-up obligations pursuant
+ to their respective lock-up undertakings in
+ favor of the Joint Sponsors and the Overall
+ Coordinators)
+169,974,982 23.49% December 30, 2023
+Cornerstone Investors (4)
+ (subject to lock-up obligations pursuant
+ to their respective Cornerstone
+ Investment Agreements)
+23,647,000 3.27% December 30, 2023
+
+
+--- page 16 ---
+18
+Notes:
+(1) The Company may not issue or agree to issue or announce its intention to issue Shares or securities of the
+Company on or before the indicated date unless in compliance with the requirements of the Listing Rules.
+(2) For details of the lock-up arrangement of the Controlling Shareholder (Pearl Group Limited), please refer to the
+sections headed “Underwriting – Underwriting Arrangements and Expenses – The Hong Kong Public Offering –
+Undertakings to the Stock Exchange pursuant to the Listing Rules – Undertakings by Pearl Group Limited ” and
+“Underwriting – Underwriting Arrangements and Expenses – The Hong Kong Public Offering – Undertakings
+pursuant to the Hong Kong Underwriting Agreement – Undertakings by Pearl Group Limited ” in the Prospectus.
+(3) Each of our Pre-IPO Investors has agreed to be subject to lock-up arrangements for a period of six (6) months
+after the Listing. For the avoidance of doubt, the number of Shares subject to the Lock-up undertakings under
+this item do not include the Offer Shares subscribed for by Reach Sight and BlackRock Health Trust.
+(4) The Cornerstone Investors may not dispose of any of the Offer Shares subscribed in the Global Offering prior to
+the indicated date.
+(5) Any discrepancies in the tables above between the amounts identified as total amounts and the sum of the
+amounts listed therein are due to rounding.
+
+
+--- page 17 ---
+19
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the section headed “Structure of the Global
+Offering { Conditions of the Global Offering ” in the Prospectus, 1,521 valid applications made
+by the public through the HK eIPO White Form service and the CCASS EIPO service will be
+conditionally allocated on the basis set out below:
+Pool A
+Approximate
+percentage
+allotted of the
+Number Number total number of
+of shares of valid shares applied
+applied for applications Basis of allocation/ballot for
+500 1,037 500 shares 100.00%
+1,000 148 1,000 shares 100.00%
+1,500 83 1,500 shares 100.00%
+2,000 39 2,000 shares 100.00%
+2,500 38 2,500 shares 100.00%
+3,000 26 3,000 shares 100.00%
+3,500 7 3,500 shares 100.00%
+4,000 21 4,000 shares 100.00%
+4,500 8 4,500 shares 100.00%
+5,000 26 5,000 shares 100.00%
+6,000 9 6,000 shares 100.00%
+7,000 11 7,000 shares 100.00%
+8,000 6 8,000 shares 100.00%
+9,000 11 9,000 shares 100.00%
+10,000 17 10,000 shares 100.00%
+15,000 5 15,000 shares 100.00%
+20,000 10 20,000 shares 100.00%
+25,000 2 25,000 shares 100.00%
+30,000 2 30,000 shares 100.00%
+35,000 1 35,000 shares 100.00%
+40,000 1 40,000 shares 100.00%
+45,000 2 45,000 shares 100.00%
+50,000 3 50,000 shares 100.00%
+70,000 1 65,000 shares 92.86%
+90,000 1 80,000 shares 88.89%
+100,000 4 87,500 shares 87.50%
+200,000 1 149,000 shares 74.50%
+300,000 1 211,500 shares 70.50%
+Total 1,521 Total number of Pool A successful applicants: 1,521
+The final number of Offer Shares under the Hong Kong Public Offering is 3,320,000 Offer Shares,
+representing approximately 10% of the total number of Offer Shares initially available under the
+Global Offering.
+
+
+--- page 18 ---
+20
+RESULTS OF ALLOCATIONS
+The final Offer Price, the level of indication of interest in the International Offering, the level of
+applications in the Hong Kong Public Offering and the basis of allocation of the Hong Kong Offer
+Shares are published on the Company ’s website at www.adicon.com.cn and the website of the
+Stock Exchange at www.hkexnews.hk on Thursday, June 29, 2023.
+The results of allocations and the Hong Kong identity card/passport/Hong Kong business
+registration/certificate of incorporation numbers of successful applicants under the Hong Kong
+Public Offering will be available at the times and date and in the manner specified below:
+• in the announcement to be posted on the Company ’s website at www.adicon.com.cn and
+the Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on Thursday,
+June 29, 2023;
+• from the “IPO Results ” function in the IPO App and the designated results of allocations
+website at www.tricor.com.hk/ipo/result or www.hkeipo.hk/IPOResult with a “search by
+ID” function on a 24-hour basis from 8:00 a.m. on Thursday, June 29, 2023 to 12:00 midnight
+on Wednesday, July 5, 2023;
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between 9:00
+a.m. and 6:00 p.m. from Thursday, June 29, 2023 to Tuesday, July 4, 2023 (excluding
+Saturday, Sunday and public holiday in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White Form ”
+in this announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner identification
+codes (if such applications are made by nominees as agent for the benefit of another person)
+whereas those displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS
+Participants via CCASS. Therefore, the identification document numbers shown in the two sections
+are different in nature.
+Please note that the list of identification document numbers set out in this announcement may not
+be a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants are disclosed. Applicants with
+beneficial names only but not identification document numbers are not disclosed due to personal
+privacy issue as elaborated below. Applicants who applied for the Hong Kong Offer Shares
+through their brokers can consult their brokers to enquire about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK eIPO
+White Form ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 19 ---
+21
+SHAREHOLDING CONCENTRATION ANALYSIS
+The tables below set out the analysis of shareholding concentration in the International Offering:
+Placee
+Number of
+Shares
+Subscribed for
+Number of
+Shares held
+upon Listing
+Subscription
+as % of
+International
+Offering
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming the
+Over-allotment
+Option is
+exercised
+in full)
+Subscription
+as % of total
+Offer Shares
+(assuming no
+exercise of
+the Over-
+allotment
+Option)
+Subscription
+as % of total
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised
+in full)
+Number of
+Shares as %
+of total share
+capital in issue
+(assuming no
+exercise of the
+Over-allotment
+Option)
+Number of
+Shares as %
+of total share
+capital in issue
+(assuming the
+Over-allotment
+Option is
+exercised
+in full)
+Top 1 9,542,500 9,542,500 31.94% 27.38% 28.75% 25.00% 1.32% 1.31%
+Top 5 26,358,500 26,358,500 88.24% 75.63% 79.41% 69.05% 3.64% 3.62%
+Top 10 34,181,000 138,878,794 114.42% 98.08% 102.98% 89.55% 19.20% 19.07%
+Top 20 34,737,000 139,434,794 116.28% 99.67% 104.65% 91.00% 19.27% 19.14%
+Top 25 34,794,000 139,491,794 116.48% 99.84% 104.82% 91.15% 19.28% 19.15%
+Shareholder
+Number of
+Shares
+subscribed for
+Number of
+Shares
+held upon
+Listing
+Subscription
+as % of
+International
+Offering
+(assuming
+no exercise
+of the
+Overallotment
+Option)
+Subscription
+as % of
+International
+Offering
+(assuming the
+Overallotment
+Option is
+exercised
+in full)
+Subscription
+as % of
+total Offer
+Shares
+(assuming
+no exercise of
+the Over-
+allotment
+Option)
+Subscription
+as % of
+total Offer
+Shares
+(assuming
+the Over-
+allotment
+Option is
+exercised
+in full)
+Number of
+Shares
+as % of total
+share capital
+in issue
+(assuming
+no exercise
+of the
+Overallotment
+Option)
+Number of
+Shares
+as % of total
+share capital
+in issue
+(assuming the
+Overallotment
+Option is
+exercised
+in full)
+Top 1 – 281,541,805 – – – – 38.92% 38.65%
+Top 5 2,152,000 538,544,064 7.20% 6.17% 6.48% 5.64% 74.44% 73.93%
+Top 10 3,902,000 639,546,152 13.06% 11.20% 11.76% 10.22% 88.40% 87.80%
+Top 20 24,216,000 701,424,547 81.06% 69.48% 72.96% 63.44% 96.96% 96.29%
+Top 25 32,981,000 715,786,868 110.41% 94.63% 99.36% 86.40% 98.94% 98.26%
+In view of the 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.
diff --git a/data/extracted_text/09880/allotment_results_2023-12-28_2023122801642.txt b/data/extracted_text/09880/allotment_results_2023-12-28_2023122801642.txt
new file mode 100644
index 0000000..664cefc
--- /dev/null
+++ b/data/extracted_text/09880/allotment_results_2023-12-28_2023122801642.txt
@@ -0,0 +1,2134 @@
+--- page 1 ---
+1
+Unless otherwise defined in this announcement, capitalised terms used in this announcement shall have the same
+meanings as those defined in the prospectus dated 19 December 2023 (the “Prospectus ”) issued by UBTECH
+ROBOTICS CORP LTD (ʮ̡ ) (the “Company ”).
+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 Hong Kong, the United States or elsewhere. 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 ”). The Offer Shares may
+not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the
+U.S. Securities Act. There will be no public offer of the Offer Shares in the United States. The Offer Shares are being
+offered and sold (1) solely to qualified institutional buyers as defined in Rule 144A under the U.S. Securities Act
+pursuant to an exemption from registration under the U.S. Securities Act and (2) 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 invitation or offer to acquire, purchase
+or subscribe for securities. This announcement is not a prospectus. Potential investors should read the Prospectus for
+detailed information about the Global Offering described below before deciding whether or not to invest in the H
+Shares thereby being offered.
+In connection with the Global Offering, Guotai Junan Securities (Hong Kong) Limited (the “Stabilizing Manager ”),
+its affiliates or any person acting for it, on behalf of the Underwriters, may over-allocate and effect transactions with
+a view to stabilizing or supporting the market price of the H Shares at a level higher than that which might otherwise
+prevail for a limited period after Listing Date. However, there is no obligation on the Stabilizing Manager, its affiliates
+or any person acting for it, to conduct any such stabilizing action, which, if commenced, will be done at the sole and
+absolute discretion of the Stabilizing Manager, its affiliates or any person acting for it, and may be discontinued at any
+time. Any such stabilizing activity is required to be brought to an end on Sunday, January 21, 2024, being the 30th day
+after the last day for the lodging of applications under the Hong Kong Public Offer. Such stabilization action, if taken,
+may be effected in all jurisdictions where it is permissible to do so, in each case in compliance with all applicable
+laws, rules and regulatory requirements, including the Securities and Futures (Price Stabilizing) Rules (Chapter 571W
+of the Laws of Hong Kong), as amended, made under the Securities and Futures Ordinance (Chapter 571 of the Laws
+of Hong Kong).
+Potential investors should be aware that stabilizing action cannot be taken to support the price of the H Shares for
+longer than the stabilization period which begins on the Listing Date and is expected to expire on Sunday, January 21,
+2024, being the 30th day after the last day for lodging applications under the Hong Kong Public Offer. After this date,
+no further stabilizing action may be taken, and demand for the H Shares, and therefore the price of the H Shares, could
+fall.
+Potential investors of the Offer Shares should note that the Overall Coordinators (for themselves and on behalf of the
+Hong Kong Underwriters and the Capital Market Intermediaries) 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 Offer – Hong Kong
+Underwriting Agreement – Grounds for Termination ” in the Prospectus at any time prior to 8:00 a.m. on the Listing
+Date (which is currently expected to be on Friday, December 29, 2023).
+In connection with the Global Offering, the Company is expected to grant the Over-Allotment Option to the
+International Underwriters, exercisable by the Overall Coordinators (for themselves and on behalf of the International
+Underwriters and the Capital Market Intermediaries). Pursuant to the Over-Allotment Option, the International
+Underwriters will have the right, exercisable by the Overall Coordinators (for themselves and on behalf of the
+International Underwriters and the Capital Market Intermediaries) at any time from the Listing Date until 30 days after
+the last day for lodging applications under the Hong Kong Public Offer being Sunday, January 21, 2024, to require
+the Company to issue and allot up to 1,692,300 additional Offer Shares, representing 15% of Offer Shares initially
+available under the Global Offering, at the Offer Price, to cover over-allocations in the International Placing, if any.
+
+
+--- page 2 ---
+2
+UBTECH ROBOTICS CORP LTD
+深圳市優必選科技股份有限公司
+(a joint stock company incorporated in the People ’s Republic of China with limited liability)
+GLOBAL OFFERING
+Number of Offer Shares under
+the Global Offering
+: 11,282,000 H Shares (subject to the
+ Over-Allotment Option)
+Number of Hong Kong Offer Shares : 1,128,200 H Shares (subject to
+ re-allocation)
+Number of International Placing Shares : 10,153,800 H Shares (subject to the Over-
+ Allotment Option and re-allocation)
+Offer Price : HK$90 per H Share plus brokerage fee of
+ 1.0%, SFC transaction levy of 0.0027%,
+ AFRC transaction levy of 0.00015% and
+ Stock Exchange trading fee of 0.00565%
+Nominal value : RMB1.00 per H Share
+Stock code : 9880
+Sole Sponsor, Overall Coordinator, Joint Global Coordinator,
+Joint Bookrunner and Joint Lead Manager
+Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers
+Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers
+Joint Bookrunners and Joint Lead Managers
+
+
+--- page 3 ---
+4
+UBTECH ROBOTICS CORP LTD / 深圳市優必選科技股份有限公司
+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 December 19, 2023 (the “Prospectus”) issued by UBTECH
+ROBOTICS CORP LTD (the “Company”).
+
+Warning: In view of high concentration of shareholding in a small number of H Share
+Shareholders, H Share Shareholders and prospective investors should be aware that the price of the
+H Shares could move substantially even with a small number of H Shares traded and should
+exercise extreme caution when dealing in the H Shares.
+SUMMARY
+
+Company information
+Stock code 9880
+Stock short name UBTECH ROBOTICS
+Dealings commencement date December 29, 2023*
+*see note at the end of the announcement
+
+Price Information
+Final Offer Price HK$90
+Offer Price Range HK$86.000 - HK$116.000
+Offer Price Adjustment exercised No
+
+Offer Shares and Share Capital
+Number of Offer Shares 11,282,000
+Number of Offer Shares in Hong Kong Public Offer 1,128,200
+Number of Offer Shares in International Placing 10,153,800
+Number of issued shares upon Listing 417,850,674
+
+Over-allocation
+No. of Offer Shares over-allocated 1,692,300
+Such over-allocation may be covered by exercising the Over-Allotment Option or by making purchases
+in the secondary market at prices that do not exceed the Offer Price or through deferred delivery or a
+combination of these means. In the event the Over-Allotment Option is exercised, an announcement will
+be made on the Stock Exchange’s website.
+
+Proceeds
+Gross proceeds (Note) HK$1,015.38 million
+Less: Estimated listing expenses payable based on Final
+Offer Price
+HK$ (109.51) million
+Net proceeds HK$905.87 million
+
+Note: Gross proceeds refers to the amount to which the issuer is entitled receive. For details of the use of
+proceeds, please refer to the Prospectus dated December 19, 2023.
+
+
+ALLOTMENT RESULTS DETAILS
+HONG KONG PUBLIC OFFER
+
+
+--- page 4 ---
+5
+
+No. of valid applications 5,414
+No. of successful applications 3,581
+Subscription level 5.16 times
+Claw-back triggered No
+No. of Offer Shares initially available under the Hong Kong Public
+Offer
+1,128,200
+Final no. of Offer Shares under the Hong Kong Public Offer 1,128,200
+% of final no. of Offer Shares under the Hong Kong Public Offer
+to the Global Offering (after over-allocation)
+8.7%
+
+Note: For details of the final allocation of H Shares to the Hong Kong Public Offer, investors can refer to
+www.hkeipo.hk/IPOResult to perform a search by name or identification number or
+www.hkeipo.hk/IPOResult for the full list of allottees.
+INTERNATIONAL PLACING
+
+No. of placees 118
+Subscription Level 2.16
+No. of Offer Shares initially available under the International
+Placing
+10,153,800
+Final no. of Offer Shares under the International Placing (after
+over-allocation)
+11,846,100
+% of final no. of Offer Shares under the International Placing to
+the Global Offering (after over-allocation)
+91.3%
+
+Save as the allocation of Offer Shares to Guosen Securities Company Limited, which was engaged by
+Liuzhou Government Investment Fund, an existing Shareholder of the Company, to subscribe for and hold
+the relevant Offer Shares on a discretionary basis on its behalf1, 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, Supervisors, chief executive
+of the Company, Controlling Shareholders, substantial Shareholders, 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, chief executive of the Company, Controlling Shareholders, substantial Shareholders,
+existing Shareholders of the Company 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.
+There are a total of 118 placees under the International Placing. A total of 97 placees have been allotted five
+board lots of the Offer Shares or less, representi ng approximately 82.2% of the 118 placees under the
+International Placing. These plac ees have been allotted 6,000 Offer Shares in total, representing
+approximately 0.059% of the total numb er of the Offer Shares under the In ternational Placing (before any
+exercise of the Over-Allotment Option). A total of 96 pl acees have been allotted three board lots of the Offer
+Shares or less, representing approximately 81.4% of the 118 placees under the International Placing. These
+placees have been allotted 5,750 Offer Shares in total, representing approximately 0.057% of the total number
+
+1 For details, please see “Others / Additional information – Connected Client as a Placee (with the Consent under Paragraph 5(1) of
+the Placing Guidelines) Subscribing for and Holding on a Discretionary Basis on Behalf of an Existing Shareholder (with the
+Waiver and Consent under Rule 10.04 of the Listing Rules and Paragraph 5(2) of the Placing Guidelines)” in this announcement
+below.
+
+
+--- page 5 ---
+6
+of the Offer Shares under the International Placing (before any exercise of the Over-Allotment Option). A total
+of 94 placees have been allotted two board lots of the Offer Shares or less, representing approximately 79.7%
+of the 118 placees under the International Placing. Th ese placees have been allotted 5,450 Offer Shares in
+total, representing approximately 0. 054% of the total number of the Of fer Shares under the International
+Placing (before any exercise of the Over-Allotment Option). A total of 79 placees have been allotted one board
+lot of the Offer Shares, representing approximately 66.9% of the 118 placees under the International Placing.
+These placees have been allotted 3,950 Offer Shares in total, representing approximately 0.039% of the total
+number of Offer Shares under the International Placing (before any exercise of the Over-Allotment Option).
+The placees in the International Placing include the following:
+Cornerstone Investor
+
+Investor
+No. of
+Offer
+Shares
+Allocated Note 1
+% of Offer
+Shares
+% of total
+issued
+H Shares after
+the Global
+Offering
+% of total
+issued share
+capital after the
+Global Offering
+(assuming the
+Over-Allotment
+Option is not
+exercised)
+Existing
+Shareholders or
+their close
+associates
+E-Town
+International
+Holding (Hong
+Kong) Co.,
+Limited / 亦莊
+國際控股(香港)
+有限公司 6,025,800 Note 2 53.41% 5.11% 1.44% No
+Total 6,025,800 53.41% 5.11% 1.44%
+
+Notes:
+1. The Offer Shares below refer to H Shares.
+
+2. The final number of the Offer Shares allotted to E-Town Inter national Holding (Hong Kong) Co.,
+Limited (the “ Cornerstone Investor ”) was calculated with reference to the actual investment
+amount of the Cornerstone Investor in Hong Kong dollars which is based on the exchange rate of
+RMB to HK$ quoted by the bank for the Cornerst one Investor’s outbound remittance of funds
+pursuant to the overseas direct investment approval or any ot her government approval, filing,
+registration or consent required for the outbound transfer and foreign exchange of funds instead of
+the exchange rate as disclosed in the Prospectus. Due to the currency exchange difference, the final
+number of Offered Shares a llotted was different from the illustra tive number of Offer Shares to be
+subscribed by the Cornerstone Investor as disclosed in the Prospectus.
+
+Allottees with waivers/consents obtained
+
+
+--- page 6 ---
+7
+
+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
+(assumin
+g the
+Over-
+Allotmen
+t Option
+is not
+exercise
+d) Relationship*
+Guosen Securities
+Company Limited /
+國信證券股份有限
+公司 (“Guosen
+Securities”) Note 1 3,635,000 32.22 3.08 0.87
+Guosen
+Securities is a
+connected client
+of Guosen
+Securities (HK)
+Capital
+Company
+Limited
+(“GS(HK)”) by
+virtue of
+GS(HK) being
+an indirect
+wholly-owned
+subsidiary of
+Guosen
+Securities.
+CSI Capital
+Management
+Limited (“CSI”)
+Note 2 86,000 0.76 0.07 0.02
+CSI is a
+connected client
+of CLSA
+Limited
+(“CLSA”) by
+virtue of both of
+them being
+indirect wholly-
+owned
+subsidiaries of
+CITIC
+Securities Co.,
+Ltd.
+Total 3,721,000 32.98 3.15 0.89
+
+Note:
+1. Guosen Securities was engaged by Liuzhou Government Investment Fund, as an asset manager that
+is a qualified domestic institutional investor as approved by the relevant PRC authority in the name
+of “ 國信證券匯晟 9號QDII單一資產管理計劃 ”, to subscribe for and hold the relevant Offer
+Shares on a discretionary basis on behalf of Liuz hou Government Investment Fund. For details,
+
+
+--- page 7 ---
+8
+please see “Others / Additional information – Connected Client as a Placee (with the Consent under
+Paragraph 5(1) of the Placing Guidelines) Sub scribing for and Holding on a Discretionary Basis
+on Behalf of an Existing Shareholder (with the Waiver and Consent under Rule 10.04 of the Listing
+Rules and Paragraph 5(2) of the Placing Guidelines)” in this announcement below.
+
+2. CSI subscribed for the relevant Offer Shares as a placee under the International Placing, which will
+be held on behalf of independent third parties on a non-discretionary basis. For details, please see
+“Others / Additional information – Connected Client as a Placee (with the Consent under Paragraph
+5(1) of the Placing Guidelines)” in this announcement below.
+
+
+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
+uponListing
+% of shareholding
+in the Company
+subject to lock-up
+undertakings upon
+Listing (assuming
+the Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings Notes
+1, 2
+ZHOU Jian / 周劍 103,586,040 - 24.79% December 28,
+2024
+Shenzhen
+Evolution
+Investment Limited
+Partnership / 深圳
+市進化論投資合夥
+企業(有限合夥)
+39,599,280 - 9.48%
+
+December 28,
+2024
+XIA Zuoquan / 夏
+佐全
+22,888,800 - 5.48%
+
+December 28,
+2024
+Shenzhen
+Sanciyuan
+Enterprise
+Management
+Consulting Limited
+Partnership / 深圳
+三次元企業管理諮
+詢合夥企業(有限
+合夥)
+
+14,538,600 - 3.48%
+
+December 28,
+2024
+XIA Yongjun / 夏
+擁軍
+
+11,039,400 - 2.64%
+
+December 28,
+2024
+XIONG Youjun /
+熊友軍
+8,290,743 - 1.98%
+
+December 28,
+2024
+WANG Lin / 王琳
+
+8,201,880 - 1.96%
+
+December 28,
+2024
+
+
+--- page 8 ---
+9
+ 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
+uponListing
+% of shareholding
+in the Company
+subject to lock-up
+undertakings upon
+Listing (assuming
+the Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings Notes
+1, 2
+Shenzhen Zhineng
+Youxuan
+Investment Limited
+Partner / 深圳市智
+能優選投資合夥企
+業(有限合夥)
+
+3,220,200 H
+Shares
+2.73% 0.77%
+
+December 28,
+2024
+ZHAO Guoqun /
+趙國群
+
+2,469,657 H
+Shares
+2.10% 0.59% December 28,
+2024
+Subtotal 213,834,600
+(including
+5,689,857 H
+Shares)
+4.83% 51.17%
+
+Notes:
+
+1. In accordance with the relevant Listing Rule/guidance materials , the required lock-up for the
+first six-month period ends on June 28, 2024 and for the second six-month period, on December
+28, 2024.
+
+2. According to the PRC Company Law, the Shares held by the Contro lling Shareholders prior to
+the Global Offering are restric ted from trading within one year from the Listing Date.
+
+Pre-IPO Investors (as defined in the “History, Development and Corporate Structure” section of the
+Prospectus)
+ 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 (assuming
+the Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings Note 1
+QM25 Limited
+23,681,160
+(including
+11,840,580 H
+Shares)
+10.04% 5.67%
+December 28,
+2024
+IMAGE FRAME
+INVESTMENT
+(HK) LIMITED
+22,128,840 H
+Shares
+
+18.77% 5.30%
+December 28,
+2024
+
+
+--- page 9 ---
+10
+ 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 (assuming
+the Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings Note 1
+Hangzhou Youzhi
+Enterprise
+Management
+Services Limited
+Partnership / 杭州
+優知企業管理服務
+合夥企業(有限合
+夥)
+14,198,883 -
+ 3.40%
+December 28,
+2024
+Liuzhou Industrial
+Guidance Fund
+Investment
+Management
+Company Limited /
+柳州市產業引導基
+金投資管理有限公
+司
+12,677,485 - 3.03%
+December 28,
+2024
+Shanghai Ding Hui
+Jia Ling Investment
+Center Limited
+Partnership / 上海
+鼎暉嘉瓴投資中心
+(有限合夥)
+7,040,160
+(including
+5,000,000 H
+Shares)
+4.24%
+ 1.68%
+December 28,
+2024
+ICBC (Shenzhen)
+Equity Investment
+Fund Limited
+Partnership / 工銀
+(深圳)股權投資
+基金合夥企業(有
+限合夥)
+6,861,960 H
+Shares
+5.82%
+ 1.64%
+December 28,
+2024
+Jiujiang Youxuan
+Zhihui Chanye
+Investment
+Development
+Center Limited
+Partnership / 九江
+市優選智慧產業投
+資發展中心(有限
+合夥)
+6,338,742 - 1.52%
+December 28,
+2024
+Beijing Juran Zhijia
+Investment
+Management
+Cente
+r
+5,802,120 - 1.39%
+December 28,
+2024
+
+
+--- page 10 ---
+11
+ 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 (assuming
+the Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings Note 1
+Limited Partnership
+/ 北京居然之家投
+資管理中心(有限
+合夥)
+Shenzhen Zhineng
+Jiaxuan Investment
+Limited
+Partnership / 深圳
+市智能佳選投資合
+夥企業(有限合
+夥)
+5,379,840 H
+Shares
+4.56%
+ 1.29%
+December 28,
+2024
+Shenzhen Huizhi
+Tongtai Investment
+Limited
+Partnership / 深圳
+匯智同泰投資合夥
+企業(有限合夥)
+5,139,000 H
+Shares
+4.36%
+ 1.23%
+December 28,
+2024
+Chongqing
+Liangjiang Xinqu
+Chengwei
+Enterprise
+Management
+Limited Partnership
+/重慶兩江新區承
+為企業管理合夥企
+業(有限合夥)
+3,847,320 H
+Shares
+3.26%
+ 0.92%
+December 28,
+2024
+Tencent
+Technology
+(Shenzhen) Co.,
+Ltd. / 騰訊科技
+(深圳)有限公司
+3,532,320 H
+Shares
+3.00%
+ 0.85%
+December 28,
+2024
+Hangzhou Hushan
+Equity Investment
+Company Limited /
+杭州湖山股權投資
+有限公司
+3,169,371 - 0.76%
+December 28,
+2024
+Chengdu
+Hongzhijia
+Enterprise
+Management
+Centre (Limited
+Partnership) / 成都
+2,708,640 - 0.65%
+December 28,
+2024
+
+
+--- page 11 ---
+12
+ 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 (assuming
+the Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings Note 1
+宏之佳企業管理中
+心(有限合夥)
+Liuzhou
+Government
+Investment
+Guidance Fund
+Management
+Company Limited /
+柳州市政府投資引
+導基金管理有限公
+司
+2,535,497 - 0.61%
+December 28,
+2024
+Huzhou
+Tianlangxing
+Huihuang Equity
+Investment
+Limited Partnership
+/ 湖州天狼星輝煌
+股權投資合夥企業
+(有限合夥)
+2,516,760 H
+Shares
+2.13%
+ 0.60%
+December 28,
+2024
+Zhuhai Hengqin
+Jinfuzi Pangu No.
+29 Equity
+Investment Center
+Limited Partnership
+/ 珠海橫琴金斧子
+盤古貳拾玖號股權
+投資中心(有限合
+夥)
+2,447,640 H
+Shares
+2.08%
+ 0.59%
+December 28,
+2024
+Ningbo Bonded
+Area Jiuyou Wise
+Investment
+Limited Partnership
+/ 寧波保稅區久友
+智選投資合夥企業
+(有限合夥)
+2,423,880
+(including
+1,508,355 H
+Shares)
+1.28%
+ 0.58%
+December 28,
+2024
+Chia Tai
+Investment
+Management
+Limite
+d
+2,132,640 H
+Shares
+1.81%
+ 0.51%
+December 28,
+2024
+Puyang Financial
+Holdin
+g Co., 2,045,259 - 0.49% December 28,
+2024
+
+
+--- page 12 ---
+13
+ 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 (assuming
+the Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings Note 1
+Ltd / 濮陽市金融
+控股有限公司
+Beijing Langma
+Yongan Investment
+Management Stock
+Company / 北京朗
+瑪永安投資管理股
+份公司
+1,748,160 H
+Shares
+1.48%
+ 0.42%
+December 28,
+2024
+Yiwu Hongyuan
+Investment
+Management
+Limited
+Partnership / 義烏
+弘緣投資管理合夥
+企業(有限合夥)
+1,748,160 - 0.42%
+December 28,
+2024
+YBX COMPANY
+LIMITED 1,748,160 - 0.42% December 28,
+2024
+Beijing Tianlang
+Xingsu Investment
+Management
+Center Limited
+Partnership / 北京
+天狼星宿投資管理
+中心(有限合夥)
+1,514,880 H
+Shares
+1.29%
+ 0.36%
+December 28,
+2024
+Shenzhen Huizhi
+Tongying
+Investment Limited
+Partnership / 深圳
+匯智同盈投資合夥
+企業(有限合夥)
+1,284,840 H
+Shares
+1.09%
+ 0.31%
+December 28,
+2024
+Suzhou Lifu Tianda
+Intelligent Robots
+Limited
+Partnership / 蘇州
+立富天達智能機器
+人合夥企業(有限
+合夥)
+1,281,600 H
+Shares
+1.09%
+ 0.31%
+December 28,
+2024
+Beijing SINOIF
+Financial Services
+Outsourcing
+Compan
+y Limited /
+1,271,879
+(including
+250,000 H Shares)
+0.21%
+ 0.30%
+December 28,
+2024
+
+
+--- page 13 ---
+14
+ 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 (assuming
+the Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings Note 1
+北京中金匯理金融
+服務外包有限公司
+Anqing Tongan
+Chanye Zhaoshang
+Investment Fund
+Limited Partnership
+/ 安慶市同安產業
+招商投資基金(有
+限合夥)
+1,267,748 H
+Shares
+1.08%
+ 0.30%
+December 28,
+2024
+Xiamen Jinyuan
+Investment Group
+Company Limited /
+廈門金圓投資集團
+有限公司
+1,267,748 - 0.30%
+December 28,
+2024
+Xiamen Siming
+District Chanye
+Investment
+Company Limited /
+廈門市思明區產業
+投資有限公司
+1,267,748 - 0.30%
+December 28,
+2024
+Qingdao Jinshi
+Haorui Investment
+Co., Ltd. / 青島金
+石灝汭投資有限公
+司
+1,222,920 H
+Shares
+1.04%
+ 0.29%
+December 28,
+2024
+Shenzhen Leaguer
+Huarui Investment
+Enterprise Limited
+Partnership / 深圳
+市力合華睿投資企
+業(有限合夥)
+1,119,240 H
+Shares
+0.95%
+ 0.27%
+December 28,
+2024
+Zhuhai Huaying
+Youxuan
+Investment Limited
+Partnership / 珠海
+鏵盈優選投資合夥
+企業(有限合夥)
+1,077,840 H
+Shares
+0.91%
+ 0.26%
+December 28,
+2024
+Puyang Youzi
+Investment
+Development
+Compan
+y Limited /
+890,588 - 0.21%
+December 28,
+2024
+
+
+--- page 14 ---
+15
+ 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 (assuming
+the Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings Note 1
+濮陽市豫資投資發
+展有限公司
+iFlytek Stock Co.,
+Ltd. / 科大訊飛股
+份有限公司
+889,560 - 0.21%
+December 28,
+2024
+Shenzhen Songhe
+Growth Equity
+Investment Limited
+Partnership / 深圳
+市松禾成長股權投
+資合夥企業(有限
+合夥)
+874,080 H Shares 0.74%
+ 0.21%
+December 28,
+2024
+Shanghai Zhonghui
+Jinjiu Phase 11
+Equity Investment
+Fund Management
+Limited Partnership
+/ 上海中匯金玖十
+一期股權投資基金
+管理合夥企業(有
+限合夥)
+874,080 H Shares 0.74%
+ 0.21%
+December 28,
+2024
+Jinan Changqing
+Shengxin Equity
+Investment
+Management
+Center Limited
+Partnership / 濟南
+常青盛欣股權投資
+管理中心(有限合
+夥)
+704,225 - 0.17%
+December 28,
+2024
+Ningbo Meishan
+Bonded Area
+Haohong Equity
+Investment Limited
+Partnership / 寧波
+梅山保稅港區灝泓
+股權投資合夥企業
+(有限合夥)
+651,960 H Shares 0.55%
+ 0.16%
+December 28,
+2024
+Yangzhou Longtou
+Chuanghai No. 1
+Chan
+gye
+633,874 - 0.15%
+December 28,
+2024
+
+
+--- page 15 ---
+16
+ 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 (assuming
+the Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings Note 1
+Funds Limited
+Partnership / 揚州
+龍投創海壹號產業
+基金合夥企業(有
+限合夥)
+Taian Taiying
+Caijian Equity
+Investment Fund
+Limited Partnership
+/ 泰安市泰鷹財建
+股權投資基金合夥
+企業(有限合夥)
+561,600 H Shares 0.48%
+ 0.13%
+December 28,
+2024
+Hangzhou
+Yuanxing
+Yuhan Equity
+Investment Fund
+Limited Partnership
+/ 杭州源星昱瀚股
+權投資基金合夥企
+業(有限合夥)
+507,082 H Shares 0.43%
+ 0.12%
+December 28,
+2024
+Shanghai Youjue
+Medical
+Technology
+Limited Partnership
+/ 上海優爵醫療科
+技合夥企業(有限
+合夥)
+480,088 - 0.11%
+December 28,
+2024
+Gongqingcheng
+Yachang
+Jiake Investment
+Management
+Limited Partnership
+/ 共青城亞昌嘉科
+投資管理合夥企業
+(有限合夥)
+405,686 - 0.10%
+December 28,
+2024
+Hangzhou Huaxia
+Kefa Equity
+Investment Limited
+Partnership / 杭州
+華夏科發股權投資
+合夥企業(有限合
+夥)
+389,914
+(including
+194,957 H Shares)
+0.17% 0.09%
+December 28,
+2024
+
+
+--- page 16 ---
+17
+ 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 (assuming
+the Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings Note 1
+Zhongtai Venture
+Capital (Shenzhen)
+Company Limited /
+中泰創業投資(深
+圳)有限公司
+380,324 - 0.09%
+December 28,
+2024
+Zibo Zhouhan
+Equity Investment
+Limited Partnership
+/ 淄博洲涵股權投
+資合夥企業(有限
+合夥)
+305,890 H Shares 0.26% 0.07%
+December 28,
+2024
+Gongqingcheng
+Jialu Investment
+Management
+Limited Partnership
+/ 共青城嘉麓投資
+管理合夥企業(有
+限合夥)
+253,551 - 0.06%
+December 28,
+2024
+Pingyang Bangtuo
+Equity Investment
+Limited Partnership
+/ 平陽邦拓股權投
+資合夥企業(有限
+合夥)
+222,828 - 0.05%
+December 28,
+2024
+Qingdao Anyu No.
+1 Investment
+Limited Partnership
+/ 青島安宇壹號投
+資合夥企業(有限
+合夥)
+219,460 H Shares 0.19%
+ 0.05%
+December 28,
+2024
+Zibo Linrui
+Youxuan Equity
+Investment
+Management
+Limited
+Partnership / 淄博
+麟睿優選股權投資
+管理合夥企業(有
+限合夥)
+217,394 - 0.05%
+December 28,
+2024
+Hanying Youxiang
+(Zhaozhuang)
+Equit
+y Investment
+197,398 - 0.05%
+December 28,
+2024
+
+
+--- page 17 ---
+18
+ 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 (assuming
+the Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings Note 1
+Limited Partnership
+/ 漢盈優享(棗
+莊)股權投資合夥
+企業(有限合夥)
+Telstra Ventures
+Fund II, L.P. 174,960 H Shares 0.15% 0.04% December 28,
+2024
+PENG Yahua / 彭
+亞華 131,312 - 0.03% December 28,
+2024
+Foshan Hongtao
+Jiuhe New
+Construction
+Equity Investment
+Limited Partnership
+/ 佛山弘陶九合新
+基建股權投資合夥
+企業(有限合夥)
+125,485 H Shares 0.11% 0.03%
+December 28,
+2024
+Pingyang Yuandao
+Equity Investment
+Limited Partnership
+/ 平陽源道股權投
+資合夥企業(有限
+合夥)
+83,304 - 0.02%
+December 28,
+2024
+Subtotal 164,603,083
+(including
+87,592,037 H
+Shares)
+74.31% 39.39%
+Note:
+
+The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Law.
+
+
+Existing Shareholders (other than the Pre-IPO Investors as defined in the “History, Development and
+Corporate Structure” section of the Prospectus)
+
+
+--- page 18 ---
+19
+ 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
+(assuming the
+Over-Allotment
+Option is not
+exercised)
+Last day subject
+to the lock-up
+undertakings Note 1
+ZHOU Jing /周靜
+6,660,000
+(including
+6,000,000 H
+Shares)
+5.09%
+ 1.59%
+December 28,
+2024
+Haikun Investment
+Management
+(Shanghai) Limited
+Company/ 海鯤投
+資管理(上海)有
+限公司
+5,689,081 - 1.36%
+December 28,
+2024
+Beijing Fuzhong
+Kangding
+Management
+Consulting
+Limited Partnership
+/ 北京富眾康鼎管
+理諮詢合夥企業
+(有限合夥)
+4,667,400 - 1.12%
+December 28,
+2024
+Shanghai Ningjing
+Youxuan
+Management
+Consultancy
+Limited Partnership
+/上海甯靖優選管
+理諮詢合夥企業
+(有限合夥)
+3,889,375 H
+Shares
+3.30%
+ 0.93%
+December 28,
+2024
+Shanghai Yaosen
+Investment
+Management Co.,
+Ltd./ 上海垚森投
+資管理有限公司
+1,748,160 - 0.42%
+December 28,
+2024
+Chengdu Zhongrui
+Zhixuan Equity
+Investment Fund
+Limited Partnership
+/ 成都市中瑞智選
+股權投資基金合夥
+企業(有限合夥)
+1,699,920 H
+Shares
+1.44%
+ 0.41%
+December 28,
+2024
+LIU Wenhua / 劉
+文華 1,442,455 - 0.35% December 28,
+2024
+
+
+--- page 19 ---
+20
+ 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
+(assuming the
+Over-Allotment
+Option is not
+exercised)
+Last day subject
+to the lock-up
+undertakings Note 1
+Zhuhai Kechuang
+Haiyuan
+Investment Limited
+Partnership / 珠海
+科創海源投資合夥
+企業(有限合夥)
+1,077,840 H
+Shares
+0.91%
+ 0.26%
+December 28,
+2024
+Shuoguang Lide
+Jintou Investment
+Center Limited
+Partnership / 壽光
+市利得金投投資中
+心(有限合夥)
+652,320 H Shares 0.55%
+ 0.16%
+December 28,
+2024
+Shenzhen Qianhai
+Quanmintong
+Holding Group
+Company Limited /
+深圳前海全民通控
+股集團有限公司
+604,440 - 0.14%
+December 28,
+2024
+Subtotal 28,130,991
+(including
+13,319,455 H
+Shares)
+11.29% 6.73%
+
+Note:
+
+The expiry date of the lock-up period shown in the table above in respect of the H Shares is pursuant
+to the PRC Company Law.
+
+
+Cornerstone Investor
+ 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
+(assuming the
+Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings
+E-Town
+International
+Holding (Hong
+Kon
+g) Co., Limited 6,025,800 Note 1
+5.11% 1.44% June 28, 2024 Note 2
+
+
+--- page 20 ---
+21
+ 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
+(assuming the
+Over-Allotment
+Option is not
+exercised)
+Last day subject to
+the lock-up
+undertakings
+/ 亦莊國際控股(香
+港)有限公司
+Subtotal 6,025,800 5.11% 1.44%
+Notes:
+
+1. The final number of the Offer Shares allotted to E-Town International Holding (Hong Kong) Co.,
+Limited (the “Cornerstone Investor”) was calculat ed with reference to the actual investment
+amount of the Cornerstone Investor in Hong Kong dollars which is based on the exchange rate of
+RMB to HK$ quoted by the bank for the Corne rstone Investor’s outbound remittance of funds
+pursuant to the overseas dir ect investment approval or any other government approval, filing,
+registration or consent required for the outbound transfer and foreign exchange of funds.
+
+2. The Cornerstone Investor shall not dispose of any of the Offer Shares subscribed pursuant to the
+Cornerstone Investment Agreement on or before the indicated date.
+
+
+--- page 21 ---
+22
+PLACEE CONCENTRATION ANALYSIS
+Placees Note
+1
+Number of H
+Shares allotted
+
+Allotment as % of
+International Placing
+(assuming no exercise of the
+Over-Allotment O ption)
+Allotment as % of
+International Placing
+(assuming the Over-
+Allotment Option is
+exercised and new H Shares
+are issued)
+Allotment as % of total Offer
+Shares (assuming no exercise
+of the Over- Allotment
+Option)
+Allotment as % of total
+Offer Shares (assuming
+the Over-Allotment
+Option is exercised and
+new H Shares are issued)
+Number of
+Shares held upon Listing
+% of total issued share capital
+upon Listing (assuming no
+exercise of the Over-Allotment
+Option)
+ꞏ% of total issued share
+capital upon Listing
+(assuming the Over-
+Allotment Option is exercised
+and new H Shares are issued)
+Top 1
+6,025,800 59.35% 50.87% 53.41% 46.44% 6,025,800 1.44% 1.44%
+Top 5 Note 2
+10,897,10
+0 107.32% 91.99% 96.59% 83.99%
+26,110,082 6.25% 6.22%
+Top 10 Note 2 11,602,20
+0 114.26% 97.94% 102.84% 89.42%
+26,815,182 6.42% 6.39%
+Top 25 Note 2 11,840,75
+0 116.61% 99.95% 104.95% 91.26%
+27,053,732 6.47% 6.45%
+
+Notes:
+1. Ranking of placees is based on the number of H Shares allotted to the placees.
+2. The number of Shares of the top 5, top 10 and top 25 placees upon Listing has taken into account the (i) existing Shares held by Liuzhou Industrial
+Fund, (ii) existing Shares held by Liuzhou Government Investment Fund and (iii) the Offer Shares allocated to Guosen Securities held on behalf
+of Liuzhou Government Investment Fund, which have been aggregated for the purpose of this analysis, as Liuzhou Industrial Fund and Liuzhou
+Government Investment Fund are ultimately controlled by the Li uzhou State-owned Assets Supervision and Administration Commissio n. For
+details, please see “History, Development and Corporate Structure – Pre-IPO Investments – Information of Principal Pre-IPO Investors” in the
+Prospectus and “Others / Additional informa tion – Connected Client as a Placee (with the Consent under Paragraph 5(1) of the Pl acing
+Guidelines) Subscribing for and Holding on a Discretionary Basis on Behalf of an Existing Sharehol der (with the Waiver and Cons ent under
+Rule 10.04 of the Listing Rules and Paragraph 5(2) of the Placing Guidelines)” in this announcement below.
+
+
+--- page 22 ---
+23
+H SHARE SHAREHOLDERS CONCENTRATION ANALYSIS
+H Share
+Shareholders
+Note 1
+Number of H Shares
+allotted
+Allotment as % of
+International
+Placing (assuming
+no exercise of the
+Over-Allotment
+Option)
+Allotment as % of
+International
+Placing (assuming
+the Over-
+Allotment Option
+is exercised and
+new H Shares are
+issued
+Allotment as % of
+total Offer Shares
+(assuming no
+exercise of the Over-
+Allotment Option)
+Allotment as % of
+total Offer Shares
+(assuming the
+Over-Allotment
+Option is exercised
+and new H Shares
+are issued)
+Number of H Shares held upon
+Listing
+% of total issued H
+Shares capital
+upon Listing
+(assuming no
+exercise of the
+Over-Allotment
+Option)
+% of total
+issued H Shares
+capital upon
+Listing
+(assuming the
+Over-Allotment
+Option is
+exercised and
+new H Shares
+are issued)
+Number of Shares held upon
+Listing
+
+ Top 1Note 2 - - - - - 25,661,160 21.77% 21.46% 25,661,160
+ Top 5 Note 2 6,025,800 59.35% 50.87% 53.41% 46.44% 56,389,500 47.84% 47.16% 68,890,080
+ Top 10 Notes
+2 and 3
+ 6,025,800 59.35% 50.87% 53.41% 46.44% 81,487,572 69.13% 68.15% 304,173,055
+ Top 25 Notes
+2, 3 and 4
+9,660,800 95.14% 81.55% 85.63% 74.46% 109,792,435 93.14% 91.82% 348,606,425
+
+Notes:
+1. Ranking of H Share Shareholders is based on the number of H Shares held by the H Share Shareholders upon Listing.
+2. The H Shares held by Tencent SZ and Image Frame are aggregated for the purpose of this analysis as both Tencent SZ and Image Fr ame and
+wholly owned subsidiaries of Tencent. For details, please see “History, Development and Corporate Structure – Pre-IPO Investmen ts –
+Information of Principal Pre-IPO Investors” in the Prospectus.
+3. Mr. Zhou Jian, Shenzhen Sanciyuan, Mr. Xia Zuoquan, Mr. Xia Yongjun, Ms. Wang Lin, Shenzhen Evolu tion, Mr. Xiong Youjun, Shenzh en
+Zhineng Youxuan and Mr. Zhao Guoqun are a group of Controlling Share holders.. Their Shares have been aggregated for the purpose of this
+analysis. For details, please see “Relationship with our Controlling Shareholders – Our Controlling Shareholders” in the Prospectus.
+4. The (i) Shares held by Liuzhou Industrial Fund, (ii) Shares held by Liuzhou Government Investment Fund and (iii) the Offer Shares allocated to
+Guosen Securities held on behalf of Liuz hou Government Investment Fund have been aggregated for th e purpose of this analysis, a s Liuzhou
+Industrial Fund and Liuzhou Government Investment Fund are ultima tely controlled by the Liuzhou State-owned Assets Supervision and
+Administration Commission. For details, please see “History, D evelopment and Corporate Structure – Pre-IPO Investments – Inform ation of
+Principal Pre-IPO Investors” in the Prospectus and “Others / Add itional information – Connected Client as a Placee (with the Consent under
+Paragraph 5(1) of the Placing Guidelines) Subscribing for and Holding on a Discretionary Basis on Behalf of an Existing Shareholder (with the
+Waiver and Consent under Rule 10.04 of the Listing Rules and Paragraph 5(2) of the Placing Guidelines)” in this announcement below.
+
+
+--- page 23 ---
+24
+SHAREHOLDER CONCENTRATION ANALYSIS
+Shareholders Note 1
+Number of H Shares al
+lotted
+Allotment as % of
+International Placing
+(assuming no exercise
+of the Over-Allotment
+Option)
+Allotment as % of
+International Placing
+(assuming the Over-
+Allotment Option is
+exercised and new H
+Shares are issued)
+Allotment as % of
+total Offer Shares
+(assuming no exercise
+of the Over- Allotment
+Option)
+Allotment as % of
+total Offer Shares
+(assuming the Over-
+Allotment Option is
+exercised and new H
+Shares are issued)
+Number of H Shares
+held upon Listing
+Number of Shares
+held upon Listing
+% of total issued
+share capital upon
+Listing (assuming no
+exercise of the Over-
+Allotment Option)
+% of total issued
+share capital upon
+Listing (assuming the
+Over-Allotment
+Option is exercised
+and new H Shares are
+issued)
+Top 1 Note 2
+- - - - - 5,689,857
+
+213,834,600 51.17% 50.97%
+Top 5 Notes 2, 3 and
+4 3,635,000 35.80% 30.69% 32.22% 28.02% 46,826,597
+
+296,223,785 70.89% 70.61%
+Top 10 Notes 2, 3
+and 4 9,660,800 95.14% 81.55% 85.63% 74.46% 70,714,357 329,150,447 78.77% 78.45%
+Top 25 Notes 2, 3
+and 4 9,660,800 95.14% 81.55% 85.63% 74.46% 99,323,447 382,756,933 91.60% 91.23%
+
+Notes:
+1. Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.
+2. Mr. Zhou Jian, Shenzhen Sanciyuan, Mr. Xia Zuoquan, Mr. Xia Yongjun, Ms. Wang Lin, Shenzhen Evolu tion, Mr. Xiong Youjun, Shenzh en
+Zhineng Youxuan and Mr. Zhao Guoqun are a group of Controlling Shar eholders. Their Shares have been aggregated for the purpose of this
+analysis. For details, please see “Relationship with our Controlling Shareholders – Our Controlling Shareholders” in the Prospectus.
+3. The Shares held by Tencent SZ and Image Frame are aggregated fo r the purpose of this analysis as both Tenc ent SZ and Image Fram e and
+wholly owned subsidiaries of Tencent. For details, please see “History, Development and Corporate Structure – Pre-IPO Investmen ts –
+Information of Principal Pre-IPO Investors” in the Prospectus.
+4. The (i) Shares held by Liuzhou Industrial Fund, (ii) Shares held by Liuzhou Government Investment Fund and (iii) the Offer Shares allocated to
+Guosen Securities held on behalf of Liuz hou Government Investment Fund have been aggregated for th e purpose of this analysis, a s Liuzhou
+Industrial Fund and Liuzhou Government Investment Fund are ultima tely controlled by the Liuzhou State-owned Assets Supervision and
+Administration Commission. For details, please see “History, D evelopment and Corporate Structure – Pre-IPO Investments – Inform ation of
+Principal Pre-IPO Investors” in the Prospectus and “Others / Add itional information – Connected Client as a Placee (with the Consent under
+Paragraph 5(1) of the Placing Guidelines) Subscribing for and Holding on a Discretionary Basis on Behalf of an Existing Shareholder (with the
+Waiver and Consent under Rule 10.04 of the Listing Rules and Paragraph 5(2) of the Placing Guidelines)” in this announcement below.
+
+
+--- page 24 ---
+25
+
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFER
+Subject to the satisfaction of t he conditions set out in the Pr ospectus, valid applications made by
+the public will be conditionally allocated on the basis set out below:
+ Approximate
+ Pool A percentage
+ allotted of the
+ Number Number total number of
+ of H Shares of valid shares applied
+ applied for applications Basis of allocation/ballot for
+
+50 2,686 1,075 out of 2,686 applicants to receive
+50 shares 40.02%
+100 685 480 out of 685 applicants to receive 50
+shares 35.04%
+150 253 236 out of 253 applicants to receive 50
+shares 31.09%
+200 158 50 shares plus 29 out of 158 applicants to
+receive an additional 50 shares 29.59%
+250 173 50 shares plus 71 out of 173 applicants to
+receive an additional 50 shares 28.21%
+300 87 50 shares plus 55 out of 87 applicants to
+receive an additional 50 shares 27.20%
+350 47 50 shares plus 39 out of 47 applicants to
+receive an additional 50 shares 26.14%
+400 254 100 shares 25.00%
+450 36 100 shares plus 8 out of 36 applicants to
+receive an additional 50 shares 24.69%
+500 179 100 shares plus 75 out of 179 applicants
+to receive an additional 50 shares 24.19%
+600 63 100 shares plus 50 out of 63 applicants to
+receive an additional 50 shares 23.28%
+700 38 150 shares 21.43%
+800 149 150 shares plus 62 out of 149 applicants
+to receive an additional 50 shares 21.35%
+900 35 150 shares plus 28 out of 35 applicants to
+receive an additional 50 shares 21.11%
+1,000 135 200 shares 20.00%
+1,500 82 250 shares plus 58 out of 82 applicants to
+receive an additional 50 shares 19.02%
+2,000 46 350 shares plus 25 out of 46 applicants to
+receive an additional 50 shares 18.86%
+2,500 34 400 shares plus 18 out of 34 applicants to
+receive an additional 50 shares 17.06%
+3,000 31 450 shares plus 25 out of 31 applicants to
+receive an additional 50 shares 16.34%
+3,500 13 550 shares plus 5 out of 13 applicants to
+receive an additional 50 shares 16.26%
+4,000 15 650 shares 16.25%
+4,500 23 700 shares 15.56%
+
+
+--- page 25 ---
+26
+5,000 34 750 shares 15.00%
+6,000 14 850 shares 14.17%
+7,000 8 950 shares 13.57%
+8,000 21 1,050 shares 13.13%
+9,000 23 1,150 shares 12.78%
+10,000 43 1,250 shares 12.50%
+20,000 12 2,100 shares 10.50%
+30,000 6 2,950 shares 9.83%
+40,000 6 3,850 shares 9.63%
+
+ Total
+
+5,389
+Total number of Pool A successful
+applicants: 3,556
+
+ Pool B Approximate
+ percentage
+ allotted of the
+ Number Number total number of
+ of H Shares of valid shares applied
+ applied for applications Basis of allocation/ballot for
+
+
+50,000 14 11,250 shares 22.50%
+
+60,000 4 13,450 shares 22.42%
+
+90,000 1 20,150 shares 22.39%
+
+100,000 1 22,250 shares 22.25%
+
+200,000 1 44,400 shares 22.20%
+
+300,000 4 66,500 shares 22.17%
+
+
+ Total 25
+Total number of Pool B successful
+applicants: 25
+
+As of the date of this announcement, the relevant subscription monies previously deposited in the
+designated nominee accounts have been remi tted back to the accounts of all HKSCC
+participants. Investor s 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
+
+
+--- page 26 ---
+27
+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.
+
+OTHERS / ADDITIONAL INFORMATION
+Public float
+
+Immediately after the completion of the Global Offering, 112,19 3,492 H Shares, representing
+approximately 26.85% 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 the completio n of the Global Offering, (i) there
+will not be any new substantial Shareholder within the meaning of the Listing Rules; (ii) the three
+largest public Shareholders 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 Listin g Rules; and (iii) there will be at least
+300 Shareholders at the time of the Listing in compliance with Rule 8.08(2) of the Listing Rules.
+
+Connected Client as a Placee (with the Consent under Paragraph 5(1) of the Placing Guidelines)
+Subscribing for and Holding on a Discretionary Basis on Behalf of an Existing Shareholder (with
+the Waiver and Consent under Rule 10.04 of the Listing Rules and Paragraph 5(2) of the Placing
+Guidelines)
+Under the International Placing, 3,635,000 Offer Shares, representing (i) approximately 32.2% of the
+total number of Offer Shares ava ilable under the Global Offerin g and (ii) approximately 0.9% of the
+total issued share capital of the Company upon Listing (before any exercise of the Over-Allotment
+Option), were placed to Guosen Securities as placee, which is a connected client of GS(HK) (a Joint
+Bookrunner, Joint Lead Manager an d Hong Kong Underwriter of the Global Offering) within the
+meaning of Appendix 6 to the Listing Rules (“ Placing Guidelines”). GS(HK) is an indirect wholly-
+owned subsidiary of Guosen Securities, therefore each of Guosen Securities and GS(HK) is a member
+of the same group of companies.
+Guosen Securities was engaged by Liuzhou Government Investment Fund, as an asset manager that is
+a qualified domestic institutional investor (“QDII”) as approved by the relevant PRC authority in the
+name of “ 國信證券匯晟 9 號 QDII 單一資產管理計劃”, to subscribe for and hold such number of
+Offer Shares as set out herein on a discretionary basis on beha lf of Liuzhou Government Investment
+Fund. Liuzhou Government Investme nt Fund, an existing Sharehold er and a Pre-IPO Investor, is an
+independent third party of Guosen Securities.
+The Company has applied to the Stock Exchange for, and the Stoc k Exchange has granted to the
+Company, (i) its consent under paragraph 5(1) of the Placing Guidelines; and (ii) a waiver from strict
+compliance with the requirements of Rule 10.04 of the Listing Rules and its consent under paragraph
+5(2) of the Placing Guidelines t o permit the Company to allocat e Offer Shares in the International
+Placing to Guosen Securities to subscribe for and hold the Offe r Shares on a discretionary basis on
+behalf of Liuzhou Government Inve stment Fund. The Offer Shares allocated to Guosen Securities is
+in compliance with all the conditions under the consents granted by the Stock Exchange.
+Connected Client as a Placee (with the Consent under Paragraph 5(1) of the Placing Guidelines)
+Under the International Placing, 86,000 Offer Shares, representing (i) approximately 0.8% of the total
+number of Offer Shares available under the Global Offering and
+(ii) approximately 0.02% of the total
+
+
+--- page 27 ---
+28
+issued share capital of the Company upon Listing (before any exercise of the Over-Allotment Option),
+were allocated to CSI as placee, which is a connected client of CLSA (an Overall Coordinator of the
+Global Offering) within the mean ing of the Placing Guidelines. Both CLSA and CSI are indirect
+wholly-owned subsidiaries of CITIC Securities Co., Ltd., theref ore each of CLSA and CSI are in the
+same group of companies.
+CSI subscribed for the relevant Offer Shares as a placee under the International Placing, which will be
+held on behalf of independent third parties on a non-discretionary basis.
+CSI will act as the single counterparty of a back-to-back total return swap transaction (the “CSI Back-
+to-back TRS”) to be entered into by CSI in connection with a total return swap order (the “CSI Client
+TRS”) placed by its ultimate client , namely Shenzhen Commando Capital Management Co., Ltd. ( 深
+圳市康曼德資本管理有限公司 ) (the “ CSI Ultimate Client ” ) , b y w h i c h C S I w i l l p a s s t h e f u l l
+economic exposure of the relevant Offer Shares placed to CSI (t he “CSI Offer Shares”) to the CSI
+Ultimate Client, meaning in effect, CSI will hold the beneficia l interest of the CSI Offer Shares on
+behalf of the CSI Ultimate Clie nt on a non-discretionary basis. CSI will hold the legal title and
+beneficial interest in the CSI Offer Shares, but will contractu ally agree to pass on the full economic
+exposure and return of the CSI Offer Shares to the CSI Ultimate Client. The CSI Ultimate Client may
+exercise an early termination ri ght to early terminate the CSI Client TRS at any time from the trade
+date of the CSI Client TRS which should be on or after the date on which the CSI Offer Shares are
+listed on the Stock Exchange. Upon the final maturity or early termination of the CSI Client TRS by
+the CSI Ultimate Client, CSI will dispose of the CSI Offer Shar es on the secondary market and the
+CSI Ultimate Client will receive a final termination amount of the CSI Back-to-back TRS which should
+have taken into account all the economic returns or economic lo ss in relation to the CSI Offer Shares
+and the fixed amount of transaction fees of the CSI Back-to-bac k TRS and the CSI Client TRS. CSI
+will not exercise the voting right of the CSI Offer Shares duri ng the tenor of the CSI Back-to-back
+TRS.
+The Company has applied to the Stock Exchange for, and the Stoc k Exchange has granted to the
+Company, its consent under paragraph 5(1) of the Placing Guidel ines to permit the Company to
+allocate Offer Shares in the International Placing to CSI to subscribe for and hold the Offer Shares on
+a non-discretionary basis. The O ffer Shares allocated to CSI is in compliance with all the conditions
+under the consents granted by the Stock Exchange.
+Over-Allotment Option
+In connection with the Global O ffering, the Company has granted the Over-Allotment Option to the
+International Underwriters, exercisable by the Overall Coordinators and the Joint Global Coordinators
+(on behalf of the International Underwriters), at any time from the Listing Date until Sunday, January
+21, 2024, being the 30th day after the last day for lodging app lications under the Hong Kong Public
+Offer, to require the Company to allot and issue up to an aggre gate of 1,692,300 additional Offer
+Shares, representing not more than 15% of the total number of O ffer Shares initially available under
+the Global Offering, at the Offer Price under the International Placing to cover over-allocations (if any)
+in the International Placing. T here has been an over-allocation of 1,692,300 Offer Shares in the
+International Placing and such over-allocation will be covered by delayed delivery arrangement with
+investors who have been offered Offer Shares under the International Placing. In the event the Over-
+Allotment Option is exercised, an announcement will be made on the Company’s website and the
+website of the Stock Exchange at www.ubtrobot.com and www.hkexnews.hk, respectively. As at the
+date of this announcement, the Over-Allotment Option has not been exercised.
+
+
+--- page 28 ---
+29
+
+DISCLAIMERS
+
+Hong Kong Exchanges and Clearing Limited, Th e 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 liab ility 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, dist ribution, directly or indirectly, in or into the
+United States (including its territories and poss essions, 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 un der the United States Securities Act of 1933, as
+amended (the “U.S. Securities Act”). The securities may not be offered or sold in the United States
+except pursuant to an exemption from the registration requirements of the U.S. Securities Act and in
+compliance with any applicable state securities la ws, or outside the United States unless in
+compliance with Regulation S under the U.S. Securi ties Act. There will be no public offer of
+securities in the United States.
+The Offer Shares are being offered and sold (1) solely to qualified institutional buyers as defined in Rule
+144A under the U.S. Securities Act pursuant to an exemp tion from registration under the U.S. Securities
+Act and (2) 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 invitation or offer to
+acquire, purchase or subscribe for securities. This announcement is not a prospectus. Potential
+investors should read the Prospectus dated December 19, 2023 issued by the Company for detailed
+information about the Global Offering described belo w before deciding whether or not to invest in
+the Shares thereb y being offered.
+*Potential investors of the Of fer Shares should note that the Sole Sponsor, the Sponsor-OC, the
+Overall Coordinators and the Joint Global Coordinato rs (for themselves and on behalf of the Hong
+Kong Underwriters and the Capital Market Intermediaries) 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 Offer – 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 December 29, 2023).
+
+
+--- page 29 ---
+4
+By order of the Board
+UBTECH ROBOTICS CORP LTD
+Mr. Zhou Jian
+Chairman, Executive Director and Chief Executive Officer
+Hong Kong, 28 December 2023
+As at the date of this announcement, the Board comprises (i) Mr. Zhou Jian, Mr. Xiong Youjun,
+Ms. Wang Lin and Mr. Liu Ming as executive directors; (ii) Mr. Xia Zuoquan, Mr. Zhou Zhifeng
+and Mr. Chen Qiang as non-executive directors; and (iii) Mr. Zhao Jie, Mr. Xiong Chuxiong, Mr.
+Poon Fuk Chuen and Mr. Leung Wai Man, Roger as independent non-executive directors.
diff --git a/data/extracted_text/09885/allotment_results_summary_2023-06-27_2023062700056.txt b/data/extracted_text/09885/allotment_results_summary_2023-06-27_2023062700056.txt
new file mode 100644
index 0000000..541a494
--- /dev/null
+++ b/data/extracted_text/09885/allotment_results_summary_2023-06-27_2023062700056.txt
@@ -0,0 +1,939 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF FINAL OFFER PRICE AND
+ALLOTMENT RESULTS
+SUMMARY
+FINAL OFFER PRICE
+• The final Offer Price has been set at HK$20.0 per Offer Share (exclusive of brokerage of
+1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock
+Exchange trading fee of 0.00565%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+• Assuming the Over-allotment Option is not exercised, based on the final Offer Price of
+HK$20.0 per Offer Share, the net proceeds from the Global Offering to be received by
+the Company, after deduction of the underwriting fees and commissions and estimated
+expenses payable by the Company in connection with the Global Offering, are estimated
+to be approximately HK$215.0 million. The Company intends to use the net proceeds from
+the Global Offering in accordance with the purposes as set out in the section headed “Net
+Proceeds from the Global Offering” in this announcement.
+• Assuming the Over-allotment Option is exercised in full, we will receive additional net
+proceeds of approximately HK$47.4 million for 2,371,200 additional Shares to be issued and
+allotted upon the exercise of the Over-allotment Option after deduction of the underwriting
+fees and commissions and estimated expenses payable by the Company in connection with
+the Global Offering. The additional proceeds will be allocated to the use of proceeds as set
+out in the section headed “Net Proceeds from the Global Offering” in this announcement in
+the event that the Over-allotment Option is exercised.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+Hong Kong Public Offering
+• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
+been moderately over-subscribed. A total of 5,155 valid applications have been received
+pursuant to the Hong Kong Public Offering through the HK eIPO White Form service
+and through the CCASS EIPO service for a total of 8,850,600 Hong Kong Offer Shares,
+representing approximately 5.60 times of the total number of 1,581,200 Hong Kong Offer
+Shares initially available for subscription under the Hong Kong Public Offering.
+
+
+--- page 2 ---
+4
+• As the over-subscription in the Hong Kong Public Offering is less than 15 times, the
+reallocation procedures as described in the section headed “Structure of the Global Offering
+— The Hong Kong Public Offering — Reallocation” in the Prospectus have not been applied
+and no International Offer Shares have been reallocated from the International Offering to the
+Hong Kong Public Offering. The final number of Offer Shares allocated to the Hong Kong
+Public Offering is 1,581,200 Shares, representing approximately 10.0% of the total number
+of Offer Shares initially available under the Global Offering (before any exercise of the Over-
+allotment Option), which have been allocated to 2,621 successful applicants under the Hong
+Kong Public Offering, among which 2,006 applicants have been allotted with one board lot of
+Offer Shares.
+International Offering
+• The International Offer Shares initially offered under the International Offering were
+moderately over-subscribed, representing approximately 2.08 times of the total number of
+14,227,600 International Offer Shares initially available under the International Offering.
+The final number of International Offer Shares under the International Offering is 14,227,600
+Offer Shares, representing approximately 90.0% of the total number of Offer Shares initially
+available under the Global Offering (before any exercise of the Over-allotment Option).
+• There has been an over-allocation of 2,371,200 Offer Shares in the International Offering and
+there are a total of 126 placees under the International Offering. A total of 114 placees have
+been allotted five board lots of International Offer Shares or less, representing approximately
+90.48% of the total number of placees under the International Offering. These placees have
+been allotted 54,400 Shares in total, representing approximately 0.38% of the International
+Offer Shares initially available under the International Offering (before any exercise of the
+Over-allotment Option) and 0.34% of the total number of Offer Shares under the Global
+Offering (before any exercise of the Over-allotment Option). A total of 19 placees have been
+allotted one board lot of International Offer Shares, representing approximately 15.08% of
+the total number of placees under the International Offering. These placees have been allotted
+3,800 Shares in total, representing approximately 0.03% of the International Offer Shares
+initially available under the International Offering (before any exercise of the Over-allotment
+Option) and 0.02% of the total number of Offer Shares under the Global Offering (before any
+exercise of the Over-allotment Option).
+Cornerstone Investor
+• Based on the Offer Price of HK$20.0 per Offer Share (exclusive of brokerage of 1%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
+trading fee of 0.00565%) and pursuant to the Cornerstone Investment Agreement, the
+Cornerstone Investor has subscribed for a total of 5,014,400 Offer Shares, representing (a)
+approximately 0.79% of the total issued share capital of the Company immediately upon
+completion of the Global Offering (assuming the Over-allotment Option is not exercised);
+and (b) approximately 31.72% of the number of Offer Shares under the Global Offering
+(assuming the Over-allotment Option is not exercised).
+
+
+--- page 3 ---
+5
+• To our Company’s best knowledge, the Cornerstone Investor is: (i) an Independent Third
+Party and is not a connected person; (ii) not accustomed to take instructions from us, our
+Directors, chief executive, 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 the Shares registered in their name or otherwise held by them; and
+(iii) not financed by us, our Directors, chief executive, substantial shareholders, existing
+Shareholders or any of its subsidiaries or their respective close associates. The Cornerstone
+Placing will form part of the International Offering, and Cornerstone Investor will not
+acquire any Offer Shares under the Global Offering (other than pursuant to the Cornerstone
+Investment Agreement). The Offer Shares to be acquired by the Cornerstone Investor will
+rank pari passu in all respects with the fully paid Shares in issue and will be counted towards
+the public float of our Company under Rule 8.24 of the Listing Rules. The Cornerstone
+Investor will not constitute a substantial shareholder of our Company, nor will it have any
+Board representation in our Company upon completion of the Global Offering.
+• As confirmed by the Cornerstone Investor, its subscription under the Cornerstone Placing
+would be financed by its own internal resources and/or the financial resources of its
+shareholders. Other than a guaranteed allocation of the relevant Offer Shares at the final
+Offer Price, the Cornerstone Investor does not have any preferential rights under the
+Cornerstone Investment Agreement, as compared with other public Shareholders. There
+are no side arrangements between us and the Cornerstone Investor or any benefit, direct or
+indirect, conferred on the Cornerstone Investor by virtue of or in relation to the Cornerstone
+Placing, other than a guaranteed allocation of the relevant Offer Shares at the final Offer
+Price. The Cornerstone Investor has confirmed that all necessary approvals have been
+obtained with respect to its Cornerstone Placing and that no specific approval from any stock
+exchange (if relevant) or its shareholders is required for the Cornerstone Placing.
+Please refer to the section headed “Cornerstone Investor” in the Prospectus for further details of
+the Cornerstone Investor.
+
+
+--- page 4 ---
+6
+Compliance with Placing Guidelines of the Listing Rules
+To the best knowledge, information and belief of the Directors, save as disclosed in this
+announcement, (i) none of the Offer Shares subscribed by public Shareholders in the Hong
+Kong Public Offering and placees in the International Offering has been directly or indirectly
+financed by the Company or any of its subsidiaries, their directors, chief executive, substantial
+shareholders, existing Shareholders, or any of their respective close associates; (ii) none of the
+public Shareholders in the Hong Kong Public Offering and placees in the International Offering
+who have subscribed for the Offer Shares is accustomed to taking instructions from the Company
+or any of its subsidiaries, their directors, chief executive, substantial shareholders, existing
+Shareholders, or any of their respective close associates in relation to the acquisition, disposal,
+voting or other disposition of the Shares registered in their names or otherwise held by them; (iii)
+no Offer Shares placed by or through the Sole Overall Coordinator, the Joint Global Coordinators,
+the Joint Bookrunners, the Underwriters under the Global Offering have been placed with
+applicants who are core connected persons (as defined in the Listing Rules) of the Company, or
+to any connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons set
+out in paragraph 5(2) of the Placing Guidelines, whether in their own names or through nominees;
+(iv) no rebate or discount has been, directly or indirectly, provided by the Company, or any of its
+subsidiaries, their directors, chief executive, substantial Shareholders, existing Shareholders or
+any of their respective close associates or syndicate members or any other brokers or underwriters
+to any public Shareholders in the Hong Kong Public Offering or placees in the International
+Offering; (v) the consideration payable by the public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering for each Share subscribed for or purchased
+by them is the same as the final Offer Price as determined by the Company, in additional to
+brokerage, SFC transaction levy, AFRC transaction levy and Stock Exchange trading fee; and
+(vi) there is no side agreement or arrangement between the Company or any of its subsidiaries,
+their directors, chief executive, substantial shareholders, existing Shareholders, or any of their
+respective close associates or syndicate members or any other brokers or underwriters, on one
+hand, and the public subscribers or the placees who have subscribed for the Offer Shares, on the
+other hand. The International Offering is in compliance with the Placing Guidelines.
+PUBLIC FLOAT
+Immediately upon completion of the Global Offering, an aggregate of 271,163,704 Shares will be
+held in the hands of the public, representing approximately 42.88% of the total number of Shares
+in issue (assuming the Over-allotment Option is not exercised). The Company confirms that (i) no
+placee will, individually, hold 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 (as
+defined in the Listing Rules) of the Company immediately after the Global Offering; (iii) the
+number of Shares to be held by the public will satisfy the minimum percentage prescribed by
+Rule 8.08(1)(a) of the Listing Rules immediately after the completion of the Global Offering; (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; and (v) the three largest public Shareholders do not hold more than 50% of
+the Shares held in public hands at the time of the Listing in compliance with Rules 8.08(3) and
+8.24 of the Listing Rules.
+
+
+--- page 5 ---
+7
+OVER-ALLOTMENT OPTION
+In connection with the Global Offering, the Company has granted the Over-allotment Option
+to the International Underwriters, exercisable by the Sole Overall Coordinator on behalf of
+the International Underwriters, at any time from the Listing Date until 30 days after the last
+day for lodging applications under the Hong Kong Public Offering, being Thursday, 20 July
+2023, to require our Company to issue up to an aggregate of 2,371,200 additional Offer Shares,
+representing not more than 15% of the total number of Offer Shares initially available under
+the Global Offering, at the final Offer Price under the International Offering to, among other
+things, cover over-allocations in the International Offering, if any. There was an over-allocation
+of 2,371,200 Shares in the International Offering and such over-allocation will be settled using
+Shares to be borrowed under the Stock Borrowing Agreement between MIYT Holdings Limited
+and the Stabilising Manager (or any person acting for it). Such borrowed Shares may be settled
+by, among other methods, exercising the Over-allotment Option in full or in part, using the Shares
+purchased in the secondary market or a combination of these means. In the event the Over-
+allotment Option is exercised, an announcement will be made on the Company’s website and the
+website of the Stock Exchange at www.ysbang.cn and www.hkexnews.hk , respectively. As at
+the date of this announcement, the Over-allotment Option has not been exercised.
+LOCK-UP UNDERTAKINGS
+The Company, existing Shareholders of the Company and the Cornerstone Investor are subject
+to certain lock-up undertakings as set out in the section headed “Lock-up Undertakings” in this
+announcement.
+RESULTS OF ALLOCATIONS
+The final Offer Price, results of allocations and the Hong Kong identity card/passport/Hong Kong
+business registration/certificate of incorporation numbers of successful applicants under the Hong
+Kong Public Offering (if provided) will be available at the times and dates and in the manner set
+out below:
+• in the announcement to be posted on the Company’s website and the website of Stock
+Exchange at www.ysbang.cn and www.hkexnews.hk , respectively, by no later than 9:00
+a.m. on Tuesday, 27 June 2023;
+• from the “IPO Results” function in the IPO App or at www.tricor.com.hk/ipo/result or
+www.hkeipo.hk/IPOResult with a “search by ID” function on a 24 hour basis from 8:00
+a.m. on Tuesday, 27 June 2023 to 12:00 midnight on Monday, 3 July 2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between 9:00
+a.m. and 6:00 p.m. from Tuesday, 27 June 2023 to Friday, 30 June 2023.
+
+
+--- page 6 ---
+8
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White
+Form” in this announcement refer to Hong Kong identity card numbers/passport numbers/
+Hong Kong business registration numbers/certificate of incorporation numbers/beneficial owner
+identification codes (if such applications are made by nominees as agent for the benefit of another
+person) whereas those displayed in the section headed “Results of Applications Made by Giving
+Electronic Application Instructions to HKSCC via CCASS” in this announcement are provided
+by CCASS Participants via CCASS. Therefore, the identification document numbers shown in the
+two sections are different in nature.
+Please note that the list of identification document numbers set out in this announcement may not
+be a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants or via the HK eIPO White
+Form service are disclosed. Applicants with beneficial names only but not identification
+document numbers are not disclosed due to personal privacy issue as elaborated below.
+Applicants who applied for the Hong Kong Offer Shares through their brokers or nominees can
+consult their brokers or nominees to enquire about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK
+eIPO White Form ” and “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS” are redacted and not all details of applications are disclosed
+in this announcement.
+DESPATCH/COLLECTION OF SHARE CERTIFICATES/e-AUTO
+REFUND PAYMENT INSTRUCTIONS/REFUND CHEQUES
+For each applicant applying for Hong Kong Offer Shares through the HK eIPO White Form
+service:
+• Applicants who have applied for 500,000 Hong Kong Offer Shares or more through the
+HK eIPO White Form service and whose application is wholly or partially successful may
+collect Share certificate(s) and/or refund cheque(s) (where applicable) in person from the
+Hong Kong Share Registrar, Tricor Investor Services Limited, at 17/F, Far East Finance
+Centre, 16 Harcourt Road, Hong Kong, from 9:00 a.m. to 1:00 p.m. on Tuesday, 27 June
+2023, or any other place or date notified by the Company.
+Applicants being individuals who are eligible for personal collection cannot authorize any
+other person to make collection on their behalf. Corporate applicants which are eligible
+for personal collection must attend by their authorised representatives bearing letters of
+authorisation from their corporations stamped with the corporations’ chops. Both individuals
+and authorised representatives (if applicable) must produce, at the time of collection,
+evidence of identity acceptable to the Hong Kong Share Registrar.
+
+
+--- page 7 ---
+9
+If Share certificate(s) and/or refund cheque(s) (where applicable) are not collected personally
+within the time specified for collection, they will be sent to the address specified in the
+application instructions by ordinary post and at the applicant’s own risk.
+• For applicants who have applied for less than 500,000 Hong Kong Offer Shares through
+the HK eIPO White Form service, the Share certificate(s) and/or refund cheque(s) (where
+applicable) will be sent to the address specified in the application instructions on or before
+Tuesday, 27 June 2023 by ordinary post and at the applicant’s own risk.
+• If the application monies have been paid from a single bank account, any refund monies will
+be despatched to that bank account in the form of e-Auto Refund payment instructions. If
+the application monies have been paid from multiple bank accounts, any refund monies will
+be despatched to the address specified in the application instructions in the form of refund
+cheque(s) in the name of the applicant (or, in the case of joint applications, the first named
+applicant) by ordinary post and at the applicant’s own risk.
+For each applicant applying for Hong Kong Offer Shares through the CCASS EIPO service:
+• For the purposes of allocating Hong Kong Offer Shares, HKSCC Nominees will not be
+treated as an applicant. Instead, each CCASS Participant who gives electronic application
+instructions or each person for whose benefit instructions are given will be treated as an
+applicant.
+• Where the application is wholly or partially successful, the Share certificate(s) will be issued
+in the name of HKSCC Nominees and deposited into CCASS for the credit of the designated
+CCASS Participant’s stock account or the applicant’s CCASS Investor Participant stock
+account on Tuesday, 27 June 2023 or on any other date determined by HKSCC or HKSCC
+Nominees.
+• The applicant should check the application results of CCASS Participants (and where the
+CCASS Participant is a broker or custodian, information relating to the relevant beneficial
+owner is included) and the successful applicants’ Hong Kong identity card/passport/Hong
+Kong business registration number or other identification code (Hong Kong business
+registration number for corporations) published by the Company on Tuesday, 27 June 2023
+in the manners specified in “Results of Allocations” in this announcement, and report any
+discrepancies to HKSCC before 5:00 p.m. on Tuesday, 27 June 2023 or such other date as
+determined by HKSCC or HKSCC Nominees.
+• Where the applicant has instructed a broker or custodian who is a CCASS Clearing
+Participant or a CCASS Custodian Participant to give electronic application instructions via
+CCASS terminals to apply for the Hong Kong Offer Shares on his/her/its behalf, the applicant
+can also check the number of the Hong Kong Offer Shares allocated to him/her/it and the
+amount of refund monies (if any) payable to him/her/it with that broker or custodian.
+
+
+--- page 8 ---
+10
+• Where the applicant has applied as a CCASS Investor Participant, he/she/it can also check the
+number of Hong Kong Offer Shares allocated to him/her/it and the amount of refund monies
+(if any) payable to him/her/it via the CCASS Phone System and the CCASS Internet System
+(under the procedures contained in HKSCC’s “An Operating Guide for Investor Participants”
+in effect from time to time) on Tuesday, 27 June 2023. Immediately following the credit of
+the Hong Kong Offer Shares to the applicant’s stock account and the credit of the refund
+monies to his/her/its bank account, HKSCC will also make available to him/her/it an activity
+statement showing the number of Hong Kong Offer Shares credited to his/her/its CCASS
+Investor Participant stock account and the amount of refund monies (if any) credited to his/
+her/its designated bank account.
+• Refund of the application monies (if any) in respect of wholly and partially unsuccessful
+applications and/or difference between the Offer Price and the maximum Offer Price per
+Offer Share initially paid on application (including brokerage, SFC transaction levy, AFRC
+transaction levy and Stock Exchange trading fee but without interest) will be credited to the
+applicant’s designated bank account or the designated bank account of the applicant’s broker
+or custodian on Tuesday, 27 June 2023.
+Share certificates will only become valid at 8:00 a.m. on Wednesday, 28 June 2023, provided
+that the Global Offering has become unconditional in all respects and neither of the Underwriting
+Agreements has been terminated in accordance with their respective terms at or before that time.
+Investors who trade Shares on the basis of publicly available allocation details or prior to the
+receipt of the Share certificates or prior to the Share certificates becoming valid do so entirely at
+their own risk.
+No temporary evidence of title will be issued in respect of the Shares. No receipt will be issued
+for sums paid on application.
+COMMENCEMENT OF DEALINGS
+• Assuming that the Hong Kong Public Offering becomes unconditional at or before 8:00 a.m.
+in Hong Kong on Wednesday, 28 June 2023, it is expected that dealings in the Shares on the
+Stock Exchange will commence at 9:00 a.m. on Wednesday, 28 June 2023. The Shares will
+be traded in board lots of 200 Shares each and the stock code of the Shares will be 9885.
+In view of the 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.
+
+
+--- page 9 ---
+11
+FINAL OFFER PRICE
+The final Offer Price has been set at HK$20.0 per Offer Share (exclusive of brokerage of 1%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee
+of 0.00565%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Assuming the Over-allotment Option is not exercised, based on the final Offer Price of HK$20.0
+per Offer Share, the net proceeds from the Global Offering to be received by the Company, after
+deduction of the underwriting fees and commissions and estimated expenses payable by the
+Company in connection with the Global Offering, are estimated to be approximately HK$215.0
+million. The Company intends to use the net proceeds for the following purposes:
+• approximately 45% of the net proceeds, or HK$96.7 million, is expected to be used for further
+developing the Company’s pharmaceutical circulation business;
+• approximately 25% of the net proceeds, or HK$53.7 million, is expected to be used for further
+developing our other businesses;
+• approximately 22% of the net proceeds, or HK$47.3 million, is expected to be used for research
+and development; and
+• approximately 8% of the net proceeds, or HK$17.2 million, is expected to be used for working
+capital and general corporate purposes.
+Assuming the Over-allotment Option is exercised in full, the Company will receive additional
+net proceeds of approximately HK$47.4 million for 2,371,200 additional Shares to be issued and
+allotted upon the exercise of the Over-allotment Option after deduction of the underwriting fees
+and commissions and estimated expenses payable by the Company in connection with the Global
+Offering. The additional net proceeds will be allocated to the purposes set out above in the event
+that the Over-allotment Option is exercised. For further information, please refer to the section
+headed “Future Plans and Use of Proceeds” in the Prospectus.
+
+
+--- page 10 ---
+12
+Taking into consideration the contributions made by CICC to the success of the Global Offering,
+in addition to the underwriting commission and incentive fee disclosed in the section headed
+“Underwriting — Underwriting Arrangements and Expenses — International Offering —
+Commissions and Expenses” in the Prospectus, the Company agrees to pay an additional incentive
+fee of US$3 million (the “ Special Bonus ”) to CICC upon the Listing. Taking account of the Special
+Bonus, based on the final Offer Price of HK$20.00 per Offer Share, assuming the Over-allotment
+Option is not exercised and no additional Shares are issued pursuant to the Share Incentive Plans,
+the total estimated listing expenses in relation to the Global Offering will be approximately
+HK$101.2 million. The Special Bonus was proposed by the Company on 16 June 2023, and it was
+not discussed between the Company and CICC prior to 16 June 2023.
+Both of the Company and the Sole Sponsor are of view that the adjustments to the listing expenses
+and use of proceeds as a result of the Special Bonus are not material to the business operations,
+financial positions and prospect of the Company for the following reasons: (i) changes of amount
+of the net proceeds to be used for each purpose disclosed in the Prospectus are less than 10%; (ii)
+the Company believes it is still able to sufficiently fund each of the intended purposes disclosed
+in the Prospectus with its liquidity resources, including the bank balances and cash, time deposits,
+restricted bank deposits, and financial assets at fair value through profit and loss, amounting to
+RMB2.2 billion as of 31 December 2022; and (iii) the updated listing expenses and use of proceeds
+are disclosed in this announcement.
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
+Hong Kong Public Offering
+The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
+moderately over-subscribed. A total of 5,155 valid applications have been received pursuant to the
+Hong Kong Public Offering through the HK eIPO White Form service and through the CCASS
+EIPO service for a total of 8,850,600 Hong Kong Offer Shares, representing approximately 5.60
+times of the total number of 1,581,200 Hong Kong Offer Shares initially available for subscription
+under the Hong Kong Public Offering, among which:
+• 5,149 valid applications were made in respect of a total of 7,350,600 Hong Kong Offer Shares
+under the Hong Kong Public Offering, each with an aggregate subscription amount based on
+
+
+--- page 11 ---
+13
+the maximum Offer Price of HK$23.00 per Offer Share (excluding brokerage of 1%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
+fee of 0.00565%) of HK$5,000,000 or less, representing approximately 9.30 times of the
+number of 790,600 Hong Kong Offer Shares initially available in Pool A of the Hong Kong
+Public Offering.
+• 6 valid applications were made in respect of a total of 1,500,000 Hong Kong Offer Shares
+under the Hong Kong Public Offering, each with an aggregate subscription amount based on
+the maximum Offer Price of HK$23.00 per Offer Share (excluding brokerage of 1%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading
+fee of 0.00565%) of more than HK$5,000,000, representing approximately 1.90 times of the
+number of 790,600 Hong Kong Offer Shares initially available in Pool B of the Hong Kong
+Public Offering.
+Under the Hong Kong Public Offering, (i) no application has been rejected due to dishonored
+payments; (ii) no invalid application has been identified and rejected; (iii) no multiple application
+or suspected multiple application has been identified and rejected; and (iv) no application for more
+than 790,600 Shares (being 50% of the Hong Kong Offer Shares initially available under the Hong
+Kong Public Offering) has been identified.
+As the over-subscription in the Hong Kong Public Offering is less than 15 times, the reallocation
+procedures as described in the section headed “Structure of the Global Offering — The Hong Kong
+Public Offering — Reallocation” in the Prospectus have not been applied and no International Offer
+Shares have been reallocated from the International Offering to the Hong Kong Public Offering.
+The final number of Offer Shares allocated to the Hong Kong Public Offering is 1,581,200 Shares,
+representing approximately 10.0% of the total number of Offer Shares initially available under the
+Global Offering (before any exercise of the Over-allotment Option), which have been allocated to
+2,621 successful applicants under the Hong Kong Public Offering, among which 2,006 applicants
+have been allotted with one board lot of Offer Shares.
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offering” in
+this announcement.
+International Offering
+The International Offer Shares initially offered under the International Offering were moderately
+over-subscribed, representing approximately 2.08 times of the total number of 14,227,600
+International Offer Shares initially available under the International Offering. The final number of
+International Offer Shares under the International Offering is 14,227,600 Offer Shares, representing
+approximately 90.0% of the total number of Offer Shares initially available under the Global
+Offering (before any exercise of the Over-allotment Option).
+
+
+--- page 12 ---
+14
+There has been an over-allocation of 2,371,200 Offer Shares in the International Offering and there
+are a total of 126 placees under the International Offering. A total of 114 placees have been allotted
+five board lots of International Offer Shares or less, representing approximately 90.48% of the total
+number of placees under the International Offering. These placees have been allotted 54,400 Shares
+in total, representing approximately 0.38% of the International Offer Shares initially available under
+the International Offering (before any exercise of the Over-allotment Option) and 0.34% of the
+total number of Offer Shares under the Global Offering (before any exercise of the Over-allotment
+Option). A total of 19 placees have been allotted one board lot of International Offer Shares,
+representing approximately 15.08% of the total number of placees under the International Offering.
+These placees have been allotted 3,800 Shares in total, representing approximately 0.03% of the
+International Offer Shares initially available under the International Offering (before any exercise
+of the Over-allotment Option) and 0.02% of the total number of Offer Shares under the Global
+Offering (before any exercise of the Over-allotment Option).
+Cornerstone Investor
+Based on the Offer Price of HK$20.0 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee
+of 0.00565%) and pursuant to the Cornerstone Investment Agreement as disclosed in the section
+headed “Cornerstone Investor” in the Prospectus, the number of Offer Shares subscribed for by the
+Cornerstone Investor is determined as set out below:
+Subscription
+Amount
+(US$ in millions)
+Number of
+Offer Shares
+(rounded down
+to nearest whole
+board lot of
+200 Shares)
+acquired
+Approximate %
+of the
+Offer Shares
+(1)
+Approximate %
+of the
+issued share
+capital
+(1)
+ZGC International Limited 12.8 5,014,400 31.72% 0.79%
+
+Total 12.8 5,014,400 31.72% 0.79%
+
+Notes:
+(1) Assuming the Over-allotment Option is not exercised.
+
+
+--- page 13 ---
+15
+To our Company’s best knowledge, the Cornerstone Investor is: (i) an Independent Third Party
+and is not a connected person; (ii) not accustomed to take instructions from us, our Directors,
+chief executive, 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
+the Shares registered in their name or otherwise held by them; and (iii) not financed by us, our
+Directors, chief executive, substantial shareholders, existing Shareholders or any of its subsidiaries
+or their respective close associates. The Cornerstone Placing will form part of the International
+Offering, and Cornerstone Investor will not acquire any Offer Shares under the Global Offering
+(other than pursuant to the Cornerstone Investment Agreement). The Offer Shares to be acquired by
+the Cornerstone Investor will rank pari passu in all respects with the fully paid Shares in issue and
+will be counted towards the public float of our Company under Rule 8.24 of the Listing Rules. The
+Cornerstone Investor will not constitute a substantial shareholder of our Company, nor will it have
+any Board representation in our Company upon completion of the Global Offering.
+As confirmed by the Cornerstone Investor, its subscription under the Cornerstone Placing would
+be financed by its own internal resources and/or the financial resources of its shareholders. Other
+than a guaranteed allocation of the relevant Offer Shares at the final Offer Price, the Cornerstone
+Investor does not have any preferential rights under the Cornerstone Investment Agreement, as
+compared with other public Shareholders. There are no side arrangements between us and the
+Cornerstone Investor or any benefit, direct or indirect, conferred on the Cornerstone Investor by
+virtue of or in relation to the Cornerstone Placing, other than a guaranteed allocation of the relevant
+Offer Shares at the final Offer Price. The Cornerstone Investor has confirmed that all necessary
+approvals have been obtained with respect to its Cornerstone Placing and that no specific approval
+from any stock exchange (if relevant) or its shareholders is required for the Cornerstone Placing.
+Please refer to the section headed “Cornerstone Investor” in the Prospectus for further details
+relating to the Cornerstone Investor.
+
+
+--- page 14 ---
+16
+Compliance with Placing Guidelines of the Listing Rules
+To the best knowledge, information and belief of the Directors, save as disclosed in this
+announcement, (i) none of the Offer Shares subscribed by public Shareholders in the Hong Kong
+Public Offering and placees in the International Offering has been directly or indirectly financed
+by the Company or any of its subsidiaries, their directors, chief executive, substantial shareholders,
+existing Shareholders, or any of their respective close associates; (ii) none of the public
+Shareholders in the Hong Kong Public Offering and placees in the International Offering who have
+subscribed for the Offer Shares is accustomed to taking instructions from the Company or any of its
+subsidiaries, their directors, chief executive, substantial shareholders, existing Shareholders, or any
+of their respective close associates in relation to the acquisition, disposal, voting or other disposition
+of the Shares registered in their names or otherwise held by them; (iii) no Offer Shares placed by
+or through the Sole Overall Coordinator, the Joint Global Coordinators, the Joint Bookrunners, the
+Underwriters under the Global Offering have been placed with applicants who are core connected
+persons (as defined in the Listing Rules) of the Company, or to any connected clients (as set out
+in paragraph 5(1) of the Placing Guidelines), or persons set out in paragraph 5(2) of the Placing
+Guidelines, whether in their own names or through nominees; (iv) no rebate or discount has been,
+directly or indirectly, provided by the Company, or any of its subsidiaries, their directors, chief
+executive, substantial Shareholders, existing Shareholders or any of their respective close associates
+or syndicate members or any other brokers or underwriters to any public Shareholders in the
+Hong Kong Public Offering or placees in the International Offering; (v) the consideration payable
+by the public Shareholders in the Hong Kong Public Offering and placees in the International
+Offering for each Share subscribed for or purchased by them is the same as the final Offer Price as
+determined by the Company, in additional to brokerage, SFC transaction levy, AFRC transaction
+levy and Stock Exchange trading fee; and (vi) there is no side agreement or arrangement between
+the Company or any of its subsidiaries, their directors, chief executive, substantial shareholders,
+existing Shareholders, or any of their respective close associates or syndicate members or any other
+brokers or underwriters, on one hand, and the public subscribers or the placees who have subscribed
+for the Offer Shares, on the other hand. The International Offering is in compliance with the Placing
+Guidelines.
+PUBLIC FLOAT
+Immediately upon completion of the Global Offering, an aggregate of 271,163,704 Shares will be
+held in the hands of the public, representing approximately 42.88% of the total number of Shares
+in issue (assuming the Over-allotment Option is not exercised). The Company confirms that (i) no
+placee will, individually, hold 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 (as
+defined in the Listing Rules) of the Company immediately after the Global Offering; (iii) the
+number of Shares to be held by the public will satisfy the minimum percentage prescribed by Rule
+8.08(1)(a) of the Listing Rules immediately after the completion of the Global Offering; (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; and (v) the three largest public Shareholders do not hold more than 50% of the
+Shares held in public hands at the time of the Listing in compliance with Rules 8.08(3) and 8.24 of
+the Listing Rules.
+
+
+--- page 15 ---
+17
+OVER-ALLOTMENT OPTION
+In connection with the Global Offering, the Company has granted the Over-allotment Option
+to the International Underwriters, exercisable by the Sole Overall Coordinator on behalf of the
+International Underwriters, at any time from the Listing Date until 30 days after the last day for
+lodging applications under the Hong Kong Public Offering, being Thursday, 20 July 2023, to
+require our Company to issue up to an aggregate of 2,371,200 additional Offer Shares, representing
+not more than 15% of the total number of Offer Shares initially available under the Global
+Offering, at the final Offer Price under the International Offering to, among other things, cover
+over-allocations in the International Offering, if any. There was an over-allocation of 2,371,200
+Shares in the International Offering and such over-allocation will be settled using Shares to
+be borrowed under the Stock Borrowing Agreement between MIYT Holdings Limited and the
+Stabilising Manager (or any person acting for it). Such borrowed Shares may be settled by, among
+other methods, exercising the Over-allotment Option in full or in part, using the Shares purchased
+in the secondary market or a combination of these means. In the event the Over-allotment Option
+is exercised, an announcement will be made on the Company’s website and the website of the
+Stock Exchange at www.ysbang.cn and www.hkexnews.hk , respectively. As at the date of this
+announcement, the Over-allotment Option has not been exercised.
+
+
+--- page 16 ---
+18
+LOCK-UP UNDERTAKINGS
+The Company, existing Shareholders of the Company and the Cornerstone Investor are subject to
+the following lock-up undertakings (the “ Lock-up Undertakings ”) in respect of the Shares. The
+major terms of the Lock-up Undertakings are set out as follows:
+Name
+Number of
+Shares subject
+to the Lock-up
+Undertakings
+after Listing
+Number of
+Shares subject
+to the Lock-up
+Undertakings as
+percentage of the
+total issued share
+capital upon
+Listing
+(1)
+Last day of the
+lock-up period
+The Company
+ (subject to lock-up obligations
+ pursuant to the Listing Rules and
+ the Hong Kong Underwriting
+ Agreement)
+(2)
+N/A N/A 28 December 2023
+Existing Shareholders
+ of the Company
+ (subject to lock-up obligations
+ pursuant to the lock-up
+ agreement)
+(3)
+616,541,252 97.50% 12 December 2023
+Cornerstone Investor
+ (subject to lock-up obligations
+ pursuant to the Cornerstone
+ Investment Agreement)
+(4)
+5,014,400 0.79% 28 December 2023
+
+Total 621,555,652 98.29%
+
+Notes:
+(1) Assuming the Over-allotment Option is not exercised.
+(2) The Company may issue Shares without any lock-up obligations after the indicated date in accordance with Rule 10.08 of
+the Listing Rules.
+(3) For details of the lock-up arrangement of existing Shareholders of the Company, please refer to the section headed
+“Underwriting — Underwriting Arrangements and Expenses — Hong Kong Public Offering — Undertakings by the
+Existing Shareholders” in the Prospectus.
+(4) The Cornerstone Investor shall not dispose of any of the Offer Shares it has purchased pursuant to the Cornerstone Investor
+Agreement, save for in certain limited circumstances, on or before the indicated date.
+
+
+--- page 17 ---
+19
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
+Subject to the satisfaction of the conditions set out in the paragraph headed “Structure of the Global
+Offering — Conditions of the Global Offering” in the Prospectus, 5,155 valid applications made
+by the public through the HK eIPO White Form service and the CCASS EIPO service will be
+conditionally allocated on the basis set out below:
+Number
+of shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number of
+shares applied for
+Pool A
+200 2,689 807 out of 2,689 applicants to receive 200 shares 30.01%
+400 846 339 out of 846 applicants to receive 200 shares 20.04%
+600 195 112 out of 195 applicants to receive 200 shares 19.15%
+800 105 76 out of 105 applicants to receive 200 shares 18.10%
+1,000 225 192 out of 225 applicants to receive 200 shares 17.07%
+1,200 50 200 shares 16.67%
+1,400 45 200 shares plus 4 out of 45 applicants to receive an additional 200 shares 15.56%
+1,600 32 200 shares plus 7 out of 32 applicants to receive an additional 200 shares 15.23%
+1,800 34 200 shares plus 9 out of 34 applicants to receive an additional 200 shares 14.05%
+2,000 547 200 shares plus 208 out of 547 applicants to receive an additional 200 shares 13.80%
+3,000 50 400 shares 13.33%
+4,000 71 400 shares plus 15 out of 71 applicants to receive an additional 200 shares 11.06%
+5,000 47 400 shares plus 24 out of 47 applicants to receive an additional 200 shares 10.04%
+6,000 32 400 shares plus 23 out of 32 applicants to receive an additional 200 shares 9.06%
+7,000 7 600 shares 8.57%
+8,000 35 600 shares plus 10 out of 35 applicants to receive an additional 200 shares 8.21%
+9,000 21 600 shares plus 11 out of 21 applicants to receive an additional 200 shares 7.83%
+10,000 50 600 shares plus 33 out of 50 applicants to receive an additional 200 shares 7.32%
+20,000 32 1,000 shares 5.00%
+30,000 12 1,400 shares 4.67%
+40,000 2 1,800 shares 4.50%
+50,000 8 2,200 shares 4.40%
+60,000 2 2,600 shares 4.33%
+70,000 2 3,000 shares 4.29%
+80,000 2 3,400 shares 4.25%
+90,000 1 3,800 shares 4.22%
+100,000 5 4,200 shares 4.20%
+150,000 1 6,200 shares 4.13%
+200,000 1 8,200 shares 4.10%
+Total 5,149 Total number of Pool A successful applicants: 2,615
+
+
+--- page 18 ---
+20
+Number
+of shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number of
+shares applied for
+Pool B
+250,000 6 131,600 shares plus 5 out of 6 applicants to receive an additional 200 shares 52.71%
+Total 6 Total number of Pool B successful applicants: 6
+The final number of Offer Shares comprising the Hong Kong Public Offering is 1,581,200 Offer
+Shares, representing approximately 10.0% of the total number of Offer Shares initially available
+under the Global Offering (before any exercise of the Over-allotment Option).
+RESULTS OF ALLOCATIONS
+The final Offer Price, results of allocations and the Hong Kong identity card/passport/Hong Kong
+business registration/certificate of incorporation numbers of successful applicants under the Hong
+Kong Public Offering (if provided) will be available at the times and dates and in the manner set out
+below:
+• in the announcement to be posted on the Company’s website and the website of Stock Exchange
+at www.ysbang.cn and www.hkexnews.hk , respectively, by no later than 9:00 a.m. on
+Tuesday, 27 June 2023;
+• from the “IPO Results” function in the IPO App or at www.tricor.com.hk/ipo/result or
+www.hkeipo.hk/IPOResult with a “search by ID” function on a 24 hour basis from 8:00 a.m.
+on Tuesday, 27 June 2023 to 12:00 midnight on Monday, 3 July 2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between 9:00 a.m.
+and 6:00 p.m. from Tuesday, 27 June 2023 to Friday, 30 June 2023.
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White Form ”
+in this announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner identification
+codes (if such applications are made by nominees as agent for the benefit of another person)
+whereas those displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS” in this announcement are provided by CCASS
+Participants via CCASS. Therefore, the identification document numbers shown in the two sections
+are different in nature.
+
+
+--- page 19 ---
+21
+Please note that the list of identification document numbers set out in this announcement may not
+be a complete list of successful applicants since only successful applicants whose identification
+document numbers are provided to HKSCC by CCASS Participants or via the HK eIPO White
+Form service are disclosed. Applicants with beneficial names only but not identification document
+numbers are not disclosed due to personal privacy issue as elaborated below. Applicants who
+applied for the Hong Kong Offer Shares through their brokers or nominees can consult their brokers
+or nominees to enquire about their application results.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK eIPO
+White Form ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS” are redacted and not all details of applications are disclosed in this
+announcement.
+SHAREHOLDING CONCENTRATION ANALYSIS
+The tables below set out the analysis of shareholding concentration in the International Offering.
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee
+Number of
+shares
+subscribed
+for
+Number of
+Shares held
+upon Listing
+Number of
+Shares
+subscribed for
+as percentage
+of the total
+number of the
+International
+Offer Shares
+(assuming
+no exercise
+of the
+Over-allotment
+Option)
+Number of
+Shares
+subscribed for
+as percentage
+of the total
+number of the
+International
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised
+in full)
+Number of
+Shares
+subscribed for
+as percentage
+of the total
+number of the
+Offer Shares
+(assuming
+no exercise
+of the
+Over-allotment
+Option)
+Number of
+Shares
+subscribed for
+as percentage
+of the total
+number of the
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised
+in full)
+Number of
+Shares
+held upon
+Listing as
+percentage
+of the total
+issued share
+capital upon
+Listing
+(assuming
+no exercise
+of the
+Over-allotment
+Option)
+Number of
+Shares
+held upon
+Listing as
+percentage
+of the total
+issued share
+capital upon
+Listing
+(assuming the
+Over-allotment
+Option is
+exercised
+in full)
+Top 1 6,030,800 6,030,800 42.39% 36.33% 38.15% 33.17% 0.95% 0.95%
+Top 5 16,125,200 16,125,200 113.34% 97.15% 102.00% 88.70% 2.55% 2.54%
+Top 10 16,538,200 16,538,200 116.24% 99.63% 104.61% 90.97% 2.62% 2.61%
+Top 20 16,551,200 16,551,200 116.33% 99.71% 104.70% 91.04% 2.62% 2.61%
+Top 25 16,555,200 16,555,200 116.36% 99.74% 104.72% 91.06% 2.62% 2.61%
+
+
+--- page 20 ---
+22
+• Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Shareholder
+Number of
+shares
+subscribed
+for
+Number of
+Shares
+held upon
+Listing
+(assuming
+no exercise
+of the
+Over-allotment
+Option)
+Number of
+Shares
+held upon
+Listing
+(assuming the
+Over-allotment
+Option is
+exercised
+in full)
+Number of
+Shares
+subscribed
+for as
+percentage
+of the
+total number
+of the
+International
+Offer Shares
+(assuming
+no exercise
+of the
+Over-allotment
+Option)
+Number of
+Shares
+subscribed
+for as
+percentage
+of the
+total number
+of the
+International
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised
+in full)
+Number of
+Shares
+subscribed
+for as
+percentage
+of the
+total number
+of the
+Offer Shares
+(assuming
+no exercise
+of the
+Over-allotment
+Option)
+Number of
+Shares
+subscribed
+for as
+percentage
+of the
+total number
+of the
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+exercised
+in full)
+Number of
+Shares
+held upon
+Listing as
+percentage
+of the
+total issued
+share capital
+upon Listing
+(assuming
+no exercise
+of the
+Over-allotment
+Option)
+Number of
+Shares
+held upon
+Listing as
+percentage
+of the
+total issued
+share capital
+upon Listing
+(assuming the
+Over-allotment
+Option is
+exercised
+in full)
+Top 1 — 125,316,184 125,316,184 0.00% 0.00% 0.00% 0.00% 19.82% 19.74%
+Top 5 — 402,184,772 402,184,772 0.00% 0.00% 0.00% 0.00% 63.60% 63.36%
+Top 10 — 557,306,496 557,306,496 0.00% 0.00% 0.00% 0.00% 88.13% 87.80%
+Top 20 13,785,200 628,863,880 628,863,880 96.89% 83.05% 87.20% 75.83% 99.45% 99.08%
+Top 25 16,417,000 632,958,252 632,958,252 114.46% 98.11% 103.85% 90.30% 100.10% 99.72%
+In view of the 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.
diff --git a/data/extracted_text/09890/allotment_results_summary_2023-09-27_2023092700048.txt b/data/extracted_text/09890/allotment_results_summary_2023-09-27_2023092700048.txt
new file mode 100644
index 0000000..0d8a7fc
--- /dev/null
+++ b/data/extracted_text/09890/allotment_results_summary_2023-09-27_2023092700048.txt
@@ -0,0 +1,1127 @@
+--- page 1 ---
+3
+ANNOUNCEMENT OF OFFER PRICE AND
+ALLOTMENT RESULTS
+SUMMARY
+Offer Price
+• The final Offer Price has been determined at HK$14.00 per Offer Share (exclusive of
+brokerage of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of
+0.00565% and AFRC transaction levy of 0.00015%).
+Net Proceeds from the Global Offering
+• Based on the Offer Price of HK$14.00 per Offer Share, the net proceeds from the Global
+Offering to be received by the Company, after deduction of the underwriting fees and
+commissions and estimated expenses payable by the Company in connection with the Global
+Offering, are estimated to be approximately HK$138.1 million. The Company intends to use
+the net proceeds from the Global Offering in accordance with the purposes as set out in the
+section headed “Net Proceeds from the Global Offering” in this announcement.
+• If the Over-allotment Option is fully exercised to cover the over-allocation of 2,846,400
+Offer Shares in the International Offering, the Company will receive additional net proceeds
+of approximately HK$38.4 million for 2,846,400 additional Offer Shares to be issued and
+allotted upon the exercise of the Over-allotment Option, after deduction of the underwriting
+fees and commissions and estimated expenses payable by the Company in connection with
+the Global Offering. The allocation of the additional net proceeds will be adjusted on a pro-
+rata basis in accordance with the purposes set out in the section headed “Net Proceeds from
+the Global Offering” in this announcement in the event that the Over-allotment Option is
+exercised.
+Applications and Indications of Interest Received in the Hong Kong Public Offering
+• The Hong Kong Public Offer Shares initially offered under the Hong Kong Public Offering
+have been very significantly over-subscribed. A total of 17,818 valid applications have been
+received pursuant to the Hong Kong Public Offering through the HK eIPO White Form
+service and through the CCASS EIPO service for a total of 197,345,200 Hong Kong Public
+Offer Shares, representing approximately 104.00 times of the total number of 1,897,600
+Hong Kong Public Offer Shares initially available for subscription under the Hong Kong
+Public Offering.
+• As the over-subscription in the Hong Kong Public Offering represents 100 times or more
+the number of the Offer Shares initially available for subscription under the Hong Kong
+Public Offering, the reallocation procedure as disclosed in the section headed “Structure of
+the Global Offering — The Hong Kong Public Offering — Reallocation” in the Prospectus
+has been applied and 7,590,400 Offer Shares have been reallocated from the International
+Offering to the Hong Kong Public Offering. The final number of Offer Shares under the
+Hong Kong Public Offering is 9,488,000 Shares, representing 50% of the total number of
+Offer Shares initially available under the Global Offering, and being allocated to 13,483
+successful applicants under the Hong Kong Public Offering, 8,822 of which have been
+allocated one board lot of Shares totaling 1,764,400 Shares, representing approximately of
+18.60% of total Offer Shares under the Hong Kong Public Offering.
+
+
+--- page 2 ---
+4
+International Offering
+• The Offer Shares initially offered under the International Offering have been slightly over-
+subscribed, representing approximately 1.67 times of the total number of Offer Shares
+initially available under the International Offering. The final number of Offer Shares under
+the International Offering is 9,488,000 Shares, representing approximately 50% of the total
+number of Offer Shares initially available under the Global Offering (before any exercise of
+the Over-allotment Option). There has been an over-allocation of 2,846,400 Offer Shares.
+Please refer to the section headed “International Offering — Over-allotment Option” in this
+announcement.
+• There are a total of 138 placees under the International Offering, among which 106 placees,
+representing 76.81% of the total number of placees under the International Offering, have
+been allotted five or fewer board lots of Offer Shares, totaling 21,200 Shares, representing
+0.22% of the total number of Offer Shares available under the International Offering
+(assuming the Over-allotment Option is not exercised). A total of 106 placees have been
+allotted one board lot of Offer Shares, representing approximately 76.81% of the total
+number of placees under the International Offering, totaling 21,200 Shares, representing
+approximately 0.22% of the total number of the Offer Shares available under the International
+Offering (assuming the Over-allotment Option is not exercised).
+Cornerstone Investor
+• Based on the Offer Price of HK$14.00 per Offer Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%) and pursuant to the Cornerstone Investment Agreements, the
+Cornerstone Investors have subscribed for a total of 6,307,800 Offer Shares, representing
+(a) approximately 33.24% of the number of Offer Shares initially available under the
+Global Offering and (b) approximately 1.18% of the Shares in issue immediately following
+completion of the Global Offering (assuming the Over-allotment Option is not exercised).
+Please refer to the section headed “Cornerstone Investors” in the Prospectus for further
+details of the Cornerstone Investors.
+Connected Client Placee with Consent under the Placing Guidelines
+• We have applied to the Stock Exchange for, and the Stock Exchange has granted us, a
+consent under Paragraph 5(1) of Appendix 6 to the Listing Rules (the “ Placing Guidelines ”)
+to permit the Company to allocate Offer Shares in the International Offering to the placee set
+out in the section headed “International Offering — Connected Client Placee with Consent
+under the Placing Guidelines” in this announcement.
+Over-allotment Option
+• In connection with the Global Offering, we have granted the Over-allotment Option to the
+International Underwriters, exercisable by the Overall Coordinators (for themselves and on
+behalf of the International Underwriters), at any time from the Listing Date to Saturday,
+October 21, 2023, being the 30th day after the last day for lodging applications under the
+Hong Kong Public Offering, to require us to allot and issue up to an aggregate of 2,846,400
+Shares, representing 15% of the Shares initially being offered under the Global Offering at
+the Offer Price to cover the over-allocations in the International Offering, if any.
+
+
+--- page 3 ---
+5
+• There has been an over-allocation of 2,846,400 Offer Shares in the International Offering
+and such over-allocation will be settled by using Shares borrowed under the Stock Borrowing
+Agreement. Such borrowed Shares will be covered by amongst other methods, exercising
+the Over-allotment Option in full or in part or by using Shares purchased by the Stabilizing
+Manager (or through its affiliates or any person acting for it) in the secondary market at
+prices that do not exceed the Offer Price or a combination of these means. In the event the
+Over-allotment Option is exercised, an announcement will be made on the Stock Exchange’s
+website at www.hkexnews.hk and the Company’s website at www.zx.com. As of the date of
+this announcement, the Over-allotment Option has not been exercised.
+Confirmations Regarding Public Shareholders in the Hong Kong Public Offering and
+Placees in the International Offering
+• Save as disclosed in the section headed “International Offering — Connected Client Placee
+with Consent under the Placing Guidelines” in this announcement, to the best knowledge,
+information and belief of the Directors, no Offer Shares placed by or through the Overall
+Coordinators, the Joint Global Coordinators, the Joint Bookrunners, the Joint Lead Managers,
+or the Underwriters under the Global Offering have been placed with applicants or their
+respective ultimate beneficial owners who are core connected persons (as defined in the
+Listing Rules) of the Company or Directors of the Company, or to any connected clients (as
+set out in paragraph 5(1) of the Placing Guidelines), or persons set out in paragraph 5(2) of
+the Placing Guidelines, whether in their own names or through nominees. The International
+Offering is in compliance with the Placing Guidelines.
+• The Directors confirm that, to the best of their knowledge, information and belief, (i) none
+of the Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering and
+placees in the International Offering has been financed directly or indirectly by the Company,
+any of the Directors, chief executive of the Company, the Controlling Shareholders, the
+substantial Shareholders, the existing Shareholders or any of their subsidiaries or their
+respective close associates; (ii) none of the public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering who has subscribed for the Offer Shares is
+accustomed to taking instructions from the Company, any of the Directors, chief executive
+of the Company, the Controlling Shareholders, the substantial Shareholders, the existing
+Shareholders or any of their subsidiaries or their respective close associates in relation to
+the acquisition, disposal, voting or other disposition of the Shares registered in their name
+or otherwise held by them; (iii) no rebate has been, directly or indirectly, provided by the
+Company, the Directors, chief executive of the Company, the Controlling Shareholders,
+the substantial Shareholders, the existing Shareholders or any of their subsidiaries, or
+their respective close associates, or syndicate members or any brokers or underwriters to
+any public Shareholders in the Hong Kong Public Offering or placees in the International
+Offering; (iv) the consideration payable by the public Shareholders in the Hong Kong Public
+Offering and placees in the International Offering for each Offer Share subscribed for or
+purchased by them is the same as the final Offer Price as determined by the Company, in
+additional to brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of
+0.00015% and Stock Exchange trading fee of 0.00565%; and (v) there is no side agreement
+or arrangement between the Company, any of the Directors, chief executive of the Company,
+the Controlling Shareholders, the substantial Shareholders of the Company, the existing
+Shareholders or any of their subsidiaries or their respective close associates or syndicate
+members or any other brokers or underwriters, on one hand, and the public subscribers or the
+placee who has subscribed for the Offer Shares, on the other hand.
+
+
+--- page 4 ---
+6
+• None of the Joint Sponsors, the Overall Coordinators, the Joint Global Coordinators, the
+Joint Bookrunners, the Joint Lead Managers, the Underwriters, and their respective affiliated
+companies and connected clients of the lead broker or of any distributors (as defined in
+the Placing Guidelines) has taken up any Offer Shares for its own benefit under the Global
+Offering.
+• The Directors confirm that none of the placees under the International Offering was
+placed more than 10% of the enlarged issued share capital of the Company immediately
+after completion of the Global Offering. Accordingly, the Directors confirm that none of
+the placees will become a substantial shareholder (as defined under the Listing Rules) of
+the Company after the completion of the Global Offering, and there will not be any new
+substantial shareholder (as defined under the Listing Rules) of the Company immediately
+after completion of the Global Offering.
+Lock-up Undertakings
+• Each of the Company, the Controlling Shareholders, the Pre-IPO Investor and the
+Cornerstone Investors is subject to certain lock-up undertakings as set out in the section
+headed “Lock-up Undertakings” in this announcement.
+Results of Allocations
+• The level of indications of interest in the International Offering, the level of applications in
+the Hong Kong Public Offering and the basis of allocation of the Hong Kong Public Offer
+Shares will be published on Wednesday, September 27, 2023 on the website of the Stock
+Exchange at www.hkexnews.hk and the Company’s website at www.zx.com .
+• The results of allocations of the Hong Kong Public Offer Shares under the Hong Kong
+Public Offering successfully applied for through the HK eIPO White Form service or
+through the CCASS EIPO service, including the Hong Kong identity card numbers, passport
+numbers, Hong Kong business registration numbers or certificate of incorporation numbers of
+successful applicants (where applicable) and the number of Hong Kong Public Offer Shares,
+successfully applied for, will be made available at the times and dates and in the manner
+specified below:
+(i) in the announcement to be posted on the Company’s website and the Stock Exchange’s
+website at www.zx.com and www.hkexnews.hk , respectively, by no later than 9:00 a.m.
+on Wednesday, September 27, 2023. Please note that the list of identification document
+numbers set out in this announcement may not be a complete list of successful applicants
+since only successful applicants whose identification document numbers are provided
+to HKSCC by CCASS Participants or via the HK eIPO White Form are disclosed.
+Applicants with beneficial names only but not identification document numbers are not
+disclosed due to personal privacy issue as elaborated below. Applicants who applied for
+the Hong Kong Public Offer Shares through their brokers or nominees can consult their
+brokers or nominees to enquire about their application results;
+(ii) from “IPO Results” function in the IPO App or at www.hkeipo.hk/IPOResult (or
+www.tricor.com.hk/ipo/result ) with a “search by ID” function on a 24-hour basis from
+8:00 a.m. on Wednesday, September 27, 2023 to 12:00 midnight on Tuesday, October 3,
+2023; and
+(iii) from the allocation results telephone enquiry line by calling +852 3691 8488 between
+9:00 a.m. and 6:00 p.m. from Wednesday, September 27, 2023 to Tuesday, October 3,
+2023 (excluding Saturday, Sunday and public holidays in Hong Kong).
+
+
+--- page 5 ---
+7
+• This announcement contains a list of identification document numbers. Identification
+document numbers shown in the section headed “Results of Applications Made by HK eIPO
+White Form ” in this announcement refer to Hong Kong identity card numbers/passport
+numbers/Hong Kong business registration numbers/certificate of incorporation numbers/
+beneficial owner identification codes (if such applications are made by nominees as agent
+for the benefit of another person) whereas those displayed in the section headed “Results of
+Applications Made by Giving Electronic Application Instructions to HKSCC via CCASS”
+in this announcement are provided by CCASS Participants via CCASS. Therefore, the
+identification document numbers shown in the two sections are different in nature.
+• Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK
+eIPO White Form ” and “Results of Applications Made by Giving Electronic Application
+Instructions to HKSCC via CCASS” are redacted and not all details of applications are
+disclosed in this announcement.
+Despatch/Collection of Share Certificates/e-Auto Refund Payment Instructions/Refund Checks
+• Applicants who applied for 500,000 Hong Kong Public Offer Shares or more through the
+HK eIPO White Form service and who have been wholly or partially successfully allocated
+Hong Kong Public Offer Shares and are eligible to collect Share certificates in person may
+collect Share certificates from the Hong Kong Share Registrar, Tricor Investor Services
+Limited, at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong, from 9:00 a.m. to
+1:00 p.m. on Wednesday, September 27, 2023, or such other date as notified by the Company
+as the date of despatch/collection of Share certificates/refund monies.
+• Applicants being individuals who are eligible for personal collection cannot authorize any
+other person to make collection on their behalf. Corporate applicants which are eligible
+for personal collection must attend by their authorised representatives bearing letters of
+authorisation from their corporations stamped with the corporations’ chops. Both individuals
+and authorised representatives (if applicable) must produce, at the time of collection,
+evidence of identity acceptable to Tricor Investor Services Limited.
+• Share certificates for Hong Kong Public Offer Shares allotted to applicants who applied
+for less than 500,000 Hong Kong Public Offer Shares through the HK eIPO White Form
+service are expected to be despatched to those entitled to the addresses specified in the
+relevant application instructions by ordinary post at their own risk on or before Wednesday,
+September 27, 2023.
+• Share certificates for Hong Kong Public Offer Shares allocated to applicants who applied
+through the HK eIPO White Form service which are either not available for personal
+collection or which are available but are not collected in person by 1:00 p.m. on Wednesday,
+September 27, 2023 are expected to be despatched by ordinary post to those entitled to
+the address specified in the relevant application at their own risk on or before Wednesday,
+September 27, 2023.
+
+
+--- page 6 ---
+8
+• Wholly or partially successful applicants who applied by giving electronic application
+instructions to HKSCC via CCASS will have their Share certificates issued in the name of
+HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS Investor
+Participant stock accounts or the stock accounts of their designated CCASS Participants
+who gave electronic application instructions on their behalf on Wednesday, September 27,
+2023.
+• Applicants who applied through a designated CCASS Participant (other than a CCASS
+Investor Participant) should check the number of Hong Kong Public Offer Shares allocated to
+them with that CCASS Participant.
+• Applicants who applied as a CCASS Investor Participant by giving electronic application
+instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
+before 5:00 p.m. on Wednesday, September 27, 2023, or such other date as shall be
+determined by HKSCC or HKSCC Nominees. Applicants who applied as a CCASS Investor
+Participant by giving electronic application instructions to HKSCC via CCASS may
+also check the results of their applications and the amount of refund monies payable to
+them via the CCASS Phone System and the CCASS Internet System (under the procedures
+contained in HKSCC’s “An Operating Guide for Investor Participants” in effect from time
+to time). Immediately after the crediting of the Hong Kong Public Offer Shares to the
+CCASS Investor Participants stock accounts and the credit of refund monies to the CCASS
+Investor Participants bank accounts, HKSCC will also make available to the CCASS Investor
+Participants an activity statement showing the number of Hong Kong Public Offer Shares
+credited to their stock accounts and the refund amount credited to their respective designated
+bank accounts (if any).
+• Applicants who applied through the HK eIPO White Form service and paid the application
+monies from a single bank account will have refund monies (if any) despatched to their
+application payment accounts in the form of e-Auto Refund payment instructions on
+Wednesday, September 27, 2023. Applicants who applied through the HK eIPO White
+Form service and paid the application monies from multiple bank accounts will have refund
+monies (if any) despatched to the addresses specified in their application instructions in the
+form of refund check(s) in favour of the applicant (or, in the case of joint applications, the
+first-named applicant) by ordinary post at their own risk on or before Wednesday, September
+27, 2023. No interest will be paid thereon.
+• Refund monies (if any) for applicants who have applied by giving electronic application
+instructions to HKSCC via CCASS are expected to be credited to the relevant applicants’
+designated bank accounts or the designated bank accounts of their brokers or custodians on
+Wednesday, September 27, 2023.
+• Share certificates will only become valid evidence of title at 8:00 a.m. on the Listing Date
+which is expected to be Thursday, September 28, 2023, provided that the Global Offering
+has become unconditional in all respects at or before that time 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.
+
+
+--- page 7 ---
+9
+• The Company will not issue any temporary documents of title in respect of the Offer Shares
+and will not issue any receipt for application monies received.
+Public Float
+• Immediately following the completion of the Global Offering (assuming the Over-allotment
+Option is not exercised), approximately 32.18% of the total issued Shares will be held by the
+public in compliance with the requirements under Rule 8.08 of the Listing Rules.
+• The Directors confirm that immediately after the Global Offering, (i) at least 25% of the
+Company’s enlarged issued share capital would be held by the public hands in compliance
+with Rule 8.08(1) of the Listing Rules, (ii) no placee will, individually, be placed more than
+10% of the enlarged issued share capital of the Company, (iii) there will not be any new
+substantial shareholder (as defined in the Listing Rules) of the Company, (iv) the three largest
+public Shareholders do not hold more than 50% of the shares held in public hands at the time
+of the Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules, and (v) 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
+• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
+a.m. on Thursday, September 28, 2023 (Hong Kong time), dealings in the Shares on the Main
+Board of the Stock Exchange are expected to commence at 9:00 a.m. on Thursday, September
+28, 2023 (Hong Kong time). The Shares will be traded in board lots of 200 Shares each. The
+stock code of the Shares is 9890.
+In view of the 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 Shares.
+OFFER PRICE
+The Offer Price has been determined at HK$14.00 per Offer Share (exclusive of brokerage of 1.0%,
+SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction
+levy of 0.00015%).
+NET PROCEEDS FROM THE GLOBAL OFFERING
+Based on the Offer Price of HK$14.00 per Offer Share, the net proceeds from the Global Offering
+to be received by the Company, after deduction of the underwriting fees and commissions and
+the other estimated expenses payable by the Company in connection with the Global Offering,
+are estimated to be approximately HK$138.1 million. The estimated total listing expenses
+are approximately HK$127.5 million, or 48.0% of the gross proceeds of the Global Offering,
+comprising HK$29.5 million underwriting-related expenses, HK$64.7 million fees and expenses of
+legal advisors and accountants, and HK$33.3 million other fees and expenses.
+
+
+--- page 8 ---
+10
+The Company intends to apply the net proceeds as follows:
+1. approximately 30.0%, or HK$41.4 million, will be used to enhance and expand its online game
+publishing business and other marketing business and consumer product business over the next
+four years:
+a. approximately 25.0%, or HK$34.5 million, will be used to enhance and expand the product/
+sector coverage of its online game publishing business and other marketing business over
+the next four years:
+i. approximately 12.5%, or HK$17.3 million, will be used to enhance and expand the
+product/sector coverage of its online game publishing business and other marketing
+business over the next four years. Specifically, approximately 5.0%, or HK$6.9
+million, will be used to convert game products in development that we have been
+authorized to market and operate from the pipeline status to final commercialization;
+ii. approximately 10.0%, or HK$13.8 million, will be used to purchase new game IPs over
+the next four years;
+iii. approximately 2.5%, or HK$3.5 million, will be used to expand its portfolio beyond
+game products over the next four years;
+b. approximately 5.0%, or HK$6.9 million, will be used to enhance and expand its consumer
+product business over the next four years:
+i. approximately 2.5%, or HK$3.5 million, will be used to enhance its Zha Zha Hui
+brand through expanding its instant food products categories and enhancing its brand
+recognition over the next four years;
+ii. approximately 1.5%, or HK$2.1 million, will be used to enhance its Bro Kooli brand
+over the next four years;
+iii. approximately 1.0%, or HK$1.4 million, will be used to potentially build new
+consumer product business or brands, including recruit approximately five consumer
+product designers with expertise in expanding a brand matrix into new verticals over
+the next four years;
+2. approximately 30.0%, or HK$41.4 million, will be allocated to expand and deepen its
+partnership with major market participants throughout the full lifecycle value chain to fulfill its
+growth strategy over the next four years:
+a. approximately 28.0%, or HK$38.7 million, will be used to strengthen its relationships with
+mainstream media platforms to enhance its brand awareness and end-user coverage over the
+next four years;
+b. approximately 2.0%, or HK$2.8 million, will be used to hire additional marketing and
+operation personnel with competitive compensation over the next four years;
+
+
+--- page 9 ---
+11
+3. approximately 10.0%, or HK$13.8 million, will be allocated to improve its technology
+infrastructure and enhance its internal research and development capabilities over the next four
+years:
+a. approximately 6.0%, or HK$8.3 million, will be used to upgrade and strengthen its IT
+infrastructure to support its business growth over the next four years;
+b. approximately 4.0%, or HK$5.5 million, will be used to build up its IT team and strengthen
+its R&D capabilities over the next four years;
+4. approximately 10.0%, or HK$13.8 million, will be used to support its overall strategies of
+expanding into select markets outside China and developing its overseas operation over the next
+four years:
+a. approximately 4.5%, or HK$6.2 million, will be used to expand the market share of its
+online game publishing business and consumer product business over the next four years;
+b. approximately 4.0%, or HK$5.5 million, will be used to develop its marketing and
+operation capabilities overseas through engaging international celebrities and KOLs to
+enhance its brand recognition over the next four years;
+c. approximately 1.5%, or HK$2.1 million, will be used to recruit additional talents to support
+its expansion and development strategies in overseas markets over the next four years;
+5. approximately 10.0%, or HK$13.8 million, will be used for exploring potential strategic
+acquisition opportunities starting from the second through the fourth year after the Listing;
+6. approximately 10.0%, or HK$13.8 million, will be used for its working capital and general
+corporate purposes.
+If the Over-allotment Option is fully exercised to cover the over-allocation of 2,846,400 Offer
+Shares in the International Offering, the Company will receive additional net proceeds of
+approximately HK$38.4 million for 2,846,400 additional Offer Shares to be issued and allotted
+upon the exercise of the Over-allotment Option, after deduction of the underwriting fees and
+commissions and estimated expenses payable by the Company in connection with the Global
+Offering. The allocation of the additional net proceeds will be adjusted on a pro-rata basis in
+accordance with the purposes set out in the section headed “Net Proceeds from the Global Offering”
+in this announcement in the event that the Over-allotment Option is exercised.
+For further information, please refer to the section headed “Future Plans and Use of Proceeds” in
+the Prospectus.
+
+
+--- page 10 ---
+12
+APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN
+THE HONG KONG PUBLIC OFFERING
+The Hong Kong Public Offer Shares initially available under the Hong Kong Public Offering
+have been very significantly over-subscribed. At the close of the application lists at 12:00 noon on
+Thursday, September 21, 2023, a total of 17,818 valid applications have been received pursuant
+to the Hong Kong Public Offering through the HK eIPO White Form service and through the
+CCASS EIPO service for a total of 197,345,200 Hong Kong Public Offer Shares, representing
+approximately 104.00 times of the total number of 1,897,600 Hong Kong Public Offer Shares
+initially available for subscription under the Hong Kong Public Offering, 8,822 of which have been
+allocated one board lot of Shares totaling 1,764,400 Shares, among which:
+• 17,592 valid applications in respect of a total of 79,388,400 Hong Kong Public Offer Shares
+were for the Hong Kong Public Offering with an aggregate subscription amount based on
+the maximum Offer Price of HK$14.00 per Offer Share (excluding brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction
+levy of 0.00015%) of HK$5 million or less, representing approximately 83.67 times of the
+948,800 Hong Kong Public Offer Shares initially comprised in Pool A; and
+• 226 valid application in respect of a total of 117,956,800 Hong Kong Public Offer Shares
+were for the Hong Kong Public Offering with an aggregate subscription amount based on
+the maximum Offer Price of HK$14.00 per Offer Share (excluding brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction
+levy of 0.00015%) of more than HK$5 million, representing approximately 124.32 times of the
+948,800 Hong Kong Public Offer Shares initially comprised in Pool B.
+No application has been rejected due to invalid application. 10 multiple or suspected multiple
+applications have been identified and rejected. One application has been rejected due to dishonored
+payment. No application for more than 948,800 Hong Kong Public Offer Shares (being 50% of the
+Hong Kong Public Offer Shares initially available under the Hong Kong Public Offering) has been
+identified.
+As the over-subscription in the Hong Kong Public Offering represents 100 times or more the
+number of the Offer Shares initially available for subscription under the Hong Kong Public
+Offering, the reallocation procedure as disclosed in the section headed “Structure of the Global
+Offering — The Hong Kong Public Offering — Reallocation” in the Prospectus has been applied
+and 7,590,400 Offer Shares have been reallocated from the International Offering to the Hong
+Kong Public Offering. The final number of Offer Shares under the Hong Kong Public Offering is
+9,488,000 Shares, representing 50% of the total number of Offer Shares initially available under the
+Global Offering, and being allocated to 13,483 successful applicants under the Hong Kong Public
+Offering, 8,822 of which have been allocated one board lot of Shares totaling 1,764,400 Shares,
+representing approximately of 18.60% of total Offer Shares under the Hong Kong Public Offering.
+
+
+--- page 11 ---
+13
+The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
+basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offering”
+below.
+INTERNATIONAL OFFERING
+The Offer Shares initially offered under the International Offering have been slightly over-
+subscribed, representing approximately 1.67 times of the total number of Offer Shares initially
+available under the International Offering. The final number of Offer Shares under the International
+Offering is 9,488,000 Shares, representing approximately 50% of the total number of Offer Shares
+initially available under the Global Offering (before any exercise of the Over-allotment Option).
+There has been an over-allocation of 2,846,400 Offer Shares. Please refer to the section headed
+“International Offering — Over-allotment Option” in this announcement.
+There are a total of 138 placees under the International Offering, among which 106 placees,
+representing 76.81% of the total number of placees under the International Offering, have been
+allotted five or fewer board lots of Offer Shares, totaling 21,200 Shares, representing 0.22% of
+the total number of Offer Shares available under the International Offering (assuming the Over-
+allotment Option is not exercised). A total of 106 placees have been allotted one board lot of Offer
+Shares, representing approximately 76.81% of the total number of placees under the International
+Offering, totaling 21,200 Shares, representing approximately 0.22% of the total number of the
+Offer Shares available under the International Offering (assuming the Over-allotment Option is not
+exercised).
+
+
+--- page 12 ---
+14
+Cornerstone Investors
+Based on the Offer Price of HK$14.00 per Offer Share (exclusive of brokerage of 1.0%, SFC
+transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy
+of 0.00015%), and pursuant to the Cornerstone Investment Agreements as disclosed in the section
+headed “Cornerstone Investors” in the Prospectus, the shareholding information of the cornerstone
+investors is set out below:
+Cornerstone Investors
+Investment
+Amount
+(1)
+(in million)
+Hong Kong
+dollar
+equivalent
+(2)
+(in million)
+Number
+of Offer
+Shares
+(3)
+Approximate
+% of total
+number of
+Offer Shares
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Approximate
+% of total
+number of
+Offer Shares
+(assuming
+the Over-
+allotment
+Option
+is fully
+exercised)
+Approximate
+% of the
+total Shares
+in issue
+immediately
+following
+completion
+of the Global
+Offering
+(assuming
+the Over-
+allotment
+Option is not
+exercised)
+Approximate
+% of the
+total Shares
+in issue
+immediately
+following
+completion
+of the Global
+Offering
+(assuming
+the Over-
+allotment
+Option
+is fully
+exercised)
+Shangrao High-speed Rail
+ Economy Experimental
+ Zone Industrial Investment
+ Development Co., Ltd.
+ ( ɪᙘ৷᚛༊᜕ਜପุ
+ ʮ̡ ) RMB30.00 31.99 2,284,800 12.04% 10.47% 0.43% 0.43%
+4399 Net Limited US$4.00 31.35 2,239,000 11.80% 10.26% 0.42% 0.42%
+Hong Kong Longsin
+ Co., Limited
+ (ʮ̡ ) US$2.00 15.67 1,119,400 5.90% 5.13% 0.21% 0.21%
+Aofei Data International
+ Company Limited
+ (ʮ̡ ) HK$9.31 9.31 664,600 3.50% 3.05% 0.12% 0.12%
+
+Total 88.32 6,307,800 33.24% 28.91% 1.18% 1.17%
+
+Notes:
+(1) Exclusive of brokerage of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC
+transaction levy of 0.00015%.
+(2) Calculated based on the actual exchange rate prescribed in the relevant Cornerstone Investment Agreement.
+(3) Rounded down to the nearest whole board lot of 200 Shares.
+
+
+--- page 13 ---
+15
+The Cornerstone Investors have agreed to pay for the relevant Offer Shares that they have
+subscribed before dealings in the Shares commence on the Stock Exchange. There will be no
+delayed delivery or delayed settlement of the Offer Shares to be subscribed by the Cornerstone
+Investors. The Company has confirmed that (i) each Cornerstone Investor (and, for the Cornerstone
+Investor who will subscribe for our Offer Shares through a qualified domestic institutional investor
+(“QDII”), such QDII and the Cornerstone Investor) is an independent third party and is not the
+Company’s connected person (as defined in the Listing Rules) nor an existing Shareholder; (ii) the
+Cornerstone Investors are independent from each other; (iii) none of the Cornerstone Investors is
+accustomed to take instructions from the Company, the Directors, chief executive of the Company,
+the Controlling Shareholders, the substantial Shareholders, or the existing Shareholders or any of
+its subsidiaries or their respective close associates in relation to the acquisition, disposal, voting or
+other disposition of the Offer Shares; and (iv) none of the subscriptions made by the Cornerstone
+Investors has been financed by the Company, the Directors, chief executive of the Company, the
+Controlling Shareholders, the substantial Shareholders, other existing Shareholders or any of its
+subsidiaries or their respective close associates. As confirmed by each Cornerstone Investor, their
+subscriptions under the Cornerstone Placing would be financed by their own internal financial
+resources and/or the financial resources of their ultimate beneficial owners, and that they have
+sufficient funds to settle their respective investments under the Cornerstone Placing. There are
+no side agreements/arrangements between the Company and the Cornerstone Investors or any
+benefit, direct or indirect, conferred on the Cornerstone Investors by virtue of or in relation to the
+Cornerstone Placing, other than a guaranteed allocation of the relevant Offer Shares at the Offer
+Price. Each of the Cornerstone Investors has confirmed that all necessary approvals have been
+obtained with respect to the Cornerstone Placing and that no specific approval from any stock
+exchange or its shareholders is required for the relevant cornerstone investment.
+The Cornerstone Placing forms part of the International Offering, and the Cornerstone Investors
+will not acquire any Offer Shares under the Global Offering other than pursuant to the cornerstone
+investment agreements. The Offer Shares to be subscribed by the Cornerstone Investors will rank
+pari passu in all respects with the fully paid Shares in issue and will be counted towards the public
+float for the purpose of Rule 8.08 of the Listing Rules. Immediately following the completion of the
+Global Offering, the Cornerstone Investors will not have any Board representation in the Company;
+and none of the Cornerstone Investors will become a substantial Shareholder.
+Each of the Cornerstone Investors has agreed that without the prior written consent of each of
+the Company, the Overall Coordinators and the Joint Sponsors, it will not, whether directly or
+indirectly, at any time during the period of twelve months following the Listing Date (the “ Lock-
+up Period ”), dispose of any of the Offer Shares they have subscribed for pursuant to the relevant
+Cornerstone Investment Agreements (the “ Relevant Shares ”) or any interest in any company or
+entity holding any of the Relevant Shares.
+Each Cornerstone Investor may transfer the Relevant Shares in certain limited circumstances set
+out in Cornerstone Investment Agreements, such as a transfer to a wholly-owned subsidiary that
+will be bound by the relevant Cornerstone Investor’s obligations under its Cornerstone Investment
+Agreement, and be subject to the restrictions on disposal of Relevant Shares imposed on such
+Cornerstone Investor.
+
+
+--- page 14 ---
+16
+Please refer to the section headed “Cornerstone Investors” in the Prospectus for further details
+relating to the Cornerstone Investors.
+Connected Client Placee with Consent under the Placing Guidelines
+The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a
+consent under Paragraph 5(1) of the Placing Guidelines to permit the Company to allocate Offer
+Shares in the International Offering to the following placee:
+Placee
+Connected
+Distributors
+Relationship with
+the Connected
+Distributors
+Number of
+Offer Shares
+Placed
+Approximate
+percentage of
+Offer Shares
+in the Global
+Offering
+(1)
+Approximate
+percentage
+of the total
+issued share
+capital
+immediately
+following
+completion
+of the Global
+Offering
+(1)
+Connected client holding Offer Shares on a non-discretionary basis:
+CSI Capital
+ Management Limited
+ (“CSICM”)
+(2)
+CLSA Limited
+(“CLSA”)
+CSICM is a member
+of the same group of
+companies as CLSA.
+557,000 2.94% 0.10%
+CITIC Securities
+Brokerage (HK)
+Limited (“ CSB”)
+CSICM is a member
+of the same group of
+companies as CSB.
+Notes:
+(1) Assuming the Over-allotment Option is not exercised.
+(2) CSICM will act as the single counterparty of a back-to-back total return swap transaction (the “ CSICM Back-to-back
+TRS”) to be entered into by CSICM in connection with a total return swap order (the “ CSICM Client TRS ”) placed by its
+ultimate client (the “ CSICM Ultimate Client ”), by which CSICM will pass the full economic exposure of the Offer Shares
+placed to CSICM (the “ CSICM Offer Shares ”) to the CSICM Ultimate Client, meaning in effect, CSICM will hold the
+beneficial interest of the CSICM Offer Shares on behalf of the CSICM Ultimate Client on a non-discretionary basis. CSICM
+will hold the legal title and beneficial interest in the CSICM Offer Shares, but will contractually agree to pass on the full
+economic exposure and return of the CSICM Offer Shares to the CSICM Ultimate Client. The CSICM Ultimate Clients may
+exercise an early termination right to early terminate the CSICM Client TRS at any time from the trade date of the CSICM
+Client TRS which should be on or after the date on which the CSICM Offer Shares are listed on the Stock Exchange. Upon
+the final maturity or early termination of the CSICM Client TRS by the CSICM Ultimate Client, CSICM will dispose of the
+CSICM Offer Shares on the secondary market and the CSICM Ultimate Client will receive a final termination amount of the
+CSICM Back-to-back TRS which should have taken into account all the economic returns or economic loss in relation to the
+CSICM Offer Shares and the fixed amount of transaction fees of the CSICM Back-to back TRS and the CSICM Client TRS.
+CSICM will not exercise the voting right of the CSICM Offer Shares during the tenor of the CSICM Back-to-back TRS. To
+the best of CSICM’s knowledge, after making all reasonable inquiries, each of the CSICM Ultimate Client and its ultimate
+beneficial owner is a third party independent from each of the Company, CSICM, CLSA and CSB.
+
+
+--- page 15 ---
+17
+The Offer Shares placed to the above placee are in compliance with all the conditions under the
+consent granted by the Stock Exchange.
+Over-allotment Option
+In connection with the Global Offering, we have granted the Over-allotment Option to the
+International Underwriters, exercisable by the Overall Coordinators (for themselves and on be-half
+of the International Underwriters), at any time from the Listing Date to Saturday, October 21, 2023,
+being the 30th day after the last day for lodging applications under the Hong Kong Public Offering,
+to require us to allot and issue up to an aggregate of 2,846,400 Shares, representing approximately
+15% of the Shares initially being offered under the Global Offering at the Offer Price to cover the
+over-allocations in the International Offering, if any.
+There has been an over-allocation of 2,846,400 Offer Shares in the International Offering and such
+over-allocation will be settled by using Shares borrowed under the Stock Borrowing Agreement.
+Such borrowed Shares will be covered by amongst other methods, exercising the Over-allotment
+Option in full or in part or by using Shares purchased by the Stabilizing Manager (or through
+its affiliates or any person acting for it) in the secondary market at prices that do not exceed the
+Offer Price or a combination of these means. In the event the Over-allotment Option is exercised,
+an announcement will be made on the Stock Exchange’s website at www.hkexnews.hk and the
+Company’s website at www.zx.com. As of the date of this announcement, the Over-allotment
+Option has not been exercised.
+Confirmations Regarding Public Shareholders in the Hong Kong Public Offering and Placees
+in the International Offering
+Save as disclosed in the section headed “International Offering — Connected Client Placee with
+Consent under the Placing Guidelines” in this announcement, to the best knowledge, information
+and belief of the Directors, no Offer Shares placed by or through the Overall Coordinators, the Joint
+Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, or the Underwriters under
+the Global Offering have been placed with applicants or their respective ultimate beneficial owners
+who are core connected persons (as defined in the Listing Rules) of the Company or Directors of
+the Company, or to any connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or
+persons set out in paragraph 5(2) of the Placing Guidelines, whether in their own names or through
+nominees. The International Offering is in compliance with the Placing Guidelines.
+
+
+--- page 16 ---
+18
+The Directors confirm that, to the best of their knowledge, information and belief, (i) none of the
+Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering and placees
+in the International Offering has been financed directly or indirectly by the Company, any of
+the Directors, chief executive of the Company, the Controlling Shareholders, the substantial
+Shareholders, the existing Shareholders or any of their subsidiaries or their respective close
+associates; (ii) none of the public Shareholders in the Hong Kong Public Offering and placees
+in the International Offering who has subscribed for the Offer Shares is accustomed to taking
+instructions from the Company, any of the Directors, chief executive of the Company, the
+Controlling Shareholders, the substantial Shareholders, the existing Shareholders or any of their
+subsidiaries or their respective close associates in relation to the acquisition, disposal, voting or
+other disposition of the Shares registered in their name or otherwise held by them; (iii) no rebate
+has been, directly or indirectly, provided by the Company, the Directors, chief executive of the
+Company, the Controlling Shareholders, the substantial Shareholders, the existing Shareholders or
+any of their subsidiaries, or their respective close associates, or syndicate members or any brokers
+or underwriters to any public Shareholders in the Hong Kong Public Offering or placees in the
+International Offering; (iv) the consideration payable by the public Shareholders in the Hong Kong
+Public Offering and placees in the International Offering for each Offer Share subscribed for or
+purchased by them is the same as the final Offer Price as determined by the Company, in additional
+to brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015%
+and Stock Exchange trading fee of 0.00565%; and (v) there is no side agreement or arrangement
+between the Company, any of the Directors, chief executive of the Company, the Controlling
+Shareholders, the substantial Shareholders of the Company, the existing Shareholders or any of
+their subsidiaries or their respective close associates or syndicate members or any other brokers or
+underwriters, on one hand, and the public subscribers or the placee who has subscribed for the Offer
+Shares, on the other hand.
+None of the Joint Sponsors, the Overall Coordinators, the Joint Global Coordinators, the Joint
+Bookrunners, the Joint Lead Managers, the Underwriters, and their respective affiliated companies
+and connected clients of the lead broker or of any distributors (as defined in the Placing Guidelines)
+has taken up any Offer Shares for its own benefit under the Global Offering.
+The Directors confirm that none of the placees under the International Offering was placed more
+than 10% of the enlarged issued share capital of the Company immediately after completion of
+the Global Offering. Accordingly, the Directors confirm that none of the placees will become a
+substantial shareholder (as defined under the Listing Rules) of the Company after the completion
+of the Global Offering, and there will not be any new substantial shareholder (as defined under the
+Listing Rules) of the Company immediately after completion of the Global Offering.
+
+
+--- page 17 ---
+19
+LOCK-UP UNDERTAKINGS
+Each of the Company, the Controlling Shareholders, the Pre-IPO Investor and the Cornerstone
+Investors has given certain undertakings in relation to the issue or disposal of Shares (the “ Lock-up
+Undertakings ”). The major terms of the Lock-Up Undertakings are set out as follows:
+Name
+Number of
+Lock-up
+Shares held in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing
+Approximate
+percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing
+(1)
+Last day subject to the
+Lock-up Undertakings
+The Company
+ (subject to lock-up obligations
+ pursuant to the Listing Rules and
+ the Hong Kong Underwriting
+ Agreement)
+N/A N/A March 27, 2024
+(2)
+Cornerstone Investors
+ (subject to lock-up obligations
+ pursuant to the relevant
+ Cornerstone Investment
+ Agreements)
+Shangrao High-speed Industrial
+ Investment
+2,284,800 0.43% September 27, 2024
+(3)
+4399 2,239,000 0.42% September 27, 2024
+(3)
+Longsin 1,119,400 0.21% September 27, 2024
+(3)
+Aofei International 664,600 0.12% September 27, 2024
+(3)
+Controlling Shareholders
+ (subject to lock-up obligations
+ pursuant to the Listing Rules
+ and the Hong Kong Underwriting
+ Agreement)
+Mr. WU Xubo, WXB BVI 1,
+ WXB BVI 2 and WXB Holdco
+264,263,000 49.45% March 27, 2024
+(4)
+September 27, 2024
+(4)
+
+
+--- page 18 ---
+20
+Name
+Number of
+Lock-up
+Shares held in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing
+Approximate
+percentage of
+shareholding in
+the Company
+subject to
+the Lock-up
+Undertakings
+upon Listing
+(1)
+Last day subject to the
+Lock-up Undertakings
+Pre-IPO Investor
+ (subject to lock-up obligations
+ pursuant to its separate lock-up
+ undertaking)
+Duoxian International Limited 25,000,000 4.68% September 27, 2024
+(5)
+Notes:
+(1) Assuming the Over-allotment Option is not exercised.
+(2) The Company may not issue Shares prior to the indicated date except otherwise permitted by the Listing Rules and the Stock
+Exchange.
+(3) Each of the Cornerstone Investors may dispose of any of the Offer Shares subscribed in the Global Offering after the
+indicated date.
+(4) The Controlling Shareholders shall not (a) dispose of any of the relevant securities of the Company in the First Six-
+Month Period and the First Lock-up Period; or (b) dispose of any of the relevant securities of the Company in the Second
+Six-Month Period if immediately following such disposal the Controlling Shareholder would cease to be a controlling
+shareholder (as defined in the Listing Rules) of the Company, or dispose of any of the relevant securities of the Company in
+the Second Lock-up Period if immediately following such disposal another shareholder or person holding beneficial interests
+in the Shares or securities of the Company would become a controlling shareholder (as defined in the Listing Rules) of the
+Company.
+For further details, please refer to the sections headed “Underwriting — Undertakings to the Stock Exchange pursuant to the
+Listing Rules — Undertakings by our Controlling Shareholders” and “Underwriting — Undertakings pursuant to the Hong
+Kong Underwriting Agreement — Undertakings by our Controlling Shareholders” in the Prospectus.
+(5) The Pre-IPO Investor may dispose of or transfer Shares without any lock-up obligation after the indicated date.
+
+
+--- page 19 ---
+21
+BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC
+OFFERING
+Subject to the satisfaction of the conditions set out in the section headed “Structure of the Global
+Offering — Conditions of the Global Offering” in the Prospectus, 17,818 valid applications made
+by the public through the HK eIPO White Form service and the CCASS EIPO service will be
+conditionally allocated on the basis set out below:
+Pool A
+Number
+of shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of shares
+applied for
+200 6,608 3,304 out of 6,608 applicants to receive 200 shares 50.00%
+400 885 617 out of 885 applicants to receive 200 shares 34.86%
+600 2,057 1,486 out of 2,057 applicants to receive 200 shares 24.08%
+800 360 273 out of 360 applicants to receive 200 shares 18.96%
+1,000 459 368 out of 459 applicants to receive 200 shares 16.03%
+1,200 146 132 out of 146 applicants to receive 200 shares 15.07%
+1,400 156 200 shares 14.29%
+1,600 109 200 shares plus 5 out of 109 applicants to receive
+an additional 200 shares
+13.07%
+1,800 87 200 shares plus 7 out of 87 applicants to receive
+an additional 200 shares
+12.01%
+2,000 481 200 shares plus 49 out of 481 applicants to receive
+an additional 200 shares
+11.02%
+3,000 3,667 200 shares plus 1,834 out of 3,667 applicants to receive
+an additional 200 shares
+10.00%
+4,000 189 200 shares plus 152 out of 189 applicants to receive
+an additional 200 shares
+9.02%
+5,000 132 400 shares 8.00%
+6,000 167 400 shares plus 17 out of 167 applicants to receive
+an additional 200 shares
+7.01%
+7,000 191 400 shares plus 40 out of 191 applicants to receive
+an additional 200 shares
+6.31%
+8,000 122 400 shares plus 59 out of 122 applicants to receive
+an additional 200 shares
+6.21%
+9,000 57 400 shares plus 43 out of 57 applicants to receive
+an additional 200 shares
+6.12%
+10,000 894 600 shares 6.00%
+
+
+--- page 20 ---
+22
+Pool A
+Number
+of shares
+applied for
+Number
+of valid
+applications Basis of allocation/ballot
+Approximate
+percentage
+allotted of the
+total number
+of shares
+applied for
+20,000 282 800 shares 4.00%
+30,000 124 1,000 shares 3.33%
+40,000 83 1,200 shares 3.00%
+50,000 56 1,400 shares 2.80%
+60,000 46 1,600 shares 2.67%
+70,000 42 1,800 shares 2.57%
+80,000 17 2,000 shares 2.50%
+90,000 8 2,200 shares 2.44%
+100,000 96 2,400 shares 2.40%
+200,000 53 4,600 shares 2.30%
+300,000 18 6,800 shares 2.27%
+
+Total 17,592 Total number of Pool A successful applicants: 13,257
+
+Pool B
+400,000 151 16,400 shares 4.10%
+500,000 19 20,200 shares 4.04%
+600,000 6 24,000 shares 4.00%
+700,000 11 27,800 shares 3.97%
+800,000 1 31,600 shares 3.95%
+900,000 2 35,200 shares 3.91%
+948,800 36 37,000 shares 3.90%
+
+Total 226 Total number of Pool B successful applicants: 226
+
+The final number of Offer Shares under the Hong Kong Public Offering is 9,488,000 Offer Shares,
+representing 50% of the total number of Offer Shares initially available under the Global Offering.
+
+
+--- page 21 ---
+23
+RESULTS OF ALLOCATIONS
+The level of indications of interest in the International Offering, the level of applications in the
+Hong Kong Public Offering and the basis of allocation of the Hong Kong Public Offer Shares
+will be published on Wednesday, September 27, 2023 on the website of the Stock Exchange at
+www.hkexnews.hk and the Company’s website at www.zx.com .
+The results of allocations of the Hong Kong Public Offer Shares under the Hong Kong Public
+Offering successfully applied for through the HK eIPO White Form service or through the
+CCASS EIPO service, including the Hong Kong identity card numbers, passport numbers, Hong
+Kong business registration numbers or certificate of incorporation numbers of successful applicants
+(where applicable) and the number of Hong Kong Public Offer Shares, successfully applied for, will
+be made available at the times and dates and in the manner specified below:
+• in the announcement to be posted on the Company’s website and the Stock Exchange’s
+website at www.zx.com and www.hkexnews.hk , respectively, by no later than 9:00 a.m. on
+Wednesday, September 27, 2023. Please note that the list of identification document numbers
+set out in this announcement may not be a complete list of successful applicants since only
+successful applicants whose identification document numbers are provided to HKSCC by
+CCASS Participants or via the HK eIPO White Form are disclosed. Applicants with beneficial
+names only but not identification document numbers are not disclosed due to personal privacy
+issue as elaborated below. Applicants who applied for the Hong Kong Public Offer Shares
+through their brokers or nominees can consult their brokers or nominees to enquire about their
+application results;
+• from “IPO Results” function in the IPO App or at www.hkeipo.hk/IPOResult (or
+www.tricor.com.hk/ipo/result) with a “search by ID” function on a 24-hour basis from 8:00 a.m.
+on Wednesday, September 27, 2023 to 12:00 midnight on Tuesday, October 3, 2023; and
+• from the allocation results telephone enquiry line by calling +852 3691 8488 between 9:00 a.m.
+and 6:00 p.m. from Wednesday, September 27, 2023 to Tuesday, October 3, 2023 (excluding
+Saturday, Sunday and public holidays in Hong Kong).
+This announcement contains a list of identification document numbers. Identification document
+numbers shown in the section headed “Results of Applications Made by HK eIPO White Form ”
+in this announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong
+business registration numbers/certificate of incorporation numbers/beneficial owner identification
+codes (if such applications are made by nominees as agent for the benefit of another person)
+whereas those displayed in the section headed “Results of Applications Made by Giving Electronic
+Application Instructions to HKSCC via CCASS” in this announcement are provided by CCASS
+Participants via CCASS. Therefore, the identification document numbers shown in the two sections
+are different in nature.
+Since applications are subject to personal information collection statements, beneficial owner
+identification codes displayed in the sections headed “Results of Applications Made by HK eIPO
+White Form ” and “Results of Applications Made by Giving Electronic Application Instructions
+to HKSCC via CCASS” are redacted and not all details of applications are disclosed in this
+announcement.
+
+
+--- page 22 ---
+24
+SHAREHOLDING CONCENTRATION ANALYSIS
+A summary of allotment results under the International Offering is set out below:
+• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
+Placee(s) Subscription
+Shares held
+following the
+Global
+Offering
+Subscription
+as % of
+International
+Offering
+(assuming the
+Over-allotment
+Option is
+not exercised)
+Subscription
+as % of
+International
+Offering
+(assuming the
+Over-allotment
+Option is
+fully exercised)
+Subscription
+as % of total
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+not exercised)
+Subscription
+as % of total
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+fully exercised)
+% of the
+total issued
+share capital
+upon Listing
+(assuming the
+Over-allotment
+Option is
+not exercised)
+% of the
+total issued
+share capital
+upon Listing
+(assuming the
+Over-allotment
+Option is
+fully exercised)
+Top 1 2,284,800 2,284,800 24.08% 18.52% 12.04% 10.47% 0.43% 0.43%
+Top 5 7,579,000 7,579,000 79.88% 61.45% 39.94% 34.73% 1.42% 1.41%
+Top 10 10,635,600 10,635,600 112.10% 86.23% 56.05% 48.74% 1.99% 1.98%
+Top 20 11,996,000 11,996,000 126.43% 97.26% 63.22% 54.97% 2.24% 2.23%
+Top 25 12,162,200 12,162,200 128.19% 98.60% 64.09% 55.73% 2.28% 2.26%
+• Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
+Shareholder(s) Subscription
+Shares held
+following the
+Global
+Offering
+Subscription
+as % of
+International
+Offering
+(assuming the
+Over-allotment
+Option is not
+exercised)
+(1)
+Subscription
+as % of
+International
+Offering
+(assuming the
+Over-allotment
+Option is
+fully exercised)
+(1)
+Subscription
+as % of total
+Offer Shares
+(assuming the
+Over-allotment
+Option is not
+exercised)
+Subscription
+as % of total
+Offer Shares
+(assuming the
+Over-allotment
+Option is
+fully exercised)
+% of the
+total issued
+share capital
+upon Listing
+(assuming the
+Over-allotment
+Option is not
+exercised)
+% of the
+total issued
+share capital
+upon Listing
+(assuming the
+Over-allotment
+Option is
+fully exercised)
+Top 1 — 264,263,000 0.00% 0.00% 0.00% 0.00% 49.45% 49.18%
+Top 5 — 380,750,000 0.00% 0.00% 0.00% 0.00% 71.24% 70.87%
+Top 10 — 470,963,918 0.00% 0.00% 0.00% 0.00% 88.12% 87.66%
+Top 20 8,299,000 523,762,918 87.47% 67.28% 43.73% 38.03% 98.00% 97.48%
+Top 25 11,023,600 526,487,518 116.18% 89.37% 58.09% 50.52% 98.51% 97.99%
+Note:
+(1) Represents the subscription level as a percentage of the total number of Shares allocated under the International Offering
+without taking into account the subscription by successful applicants under the Hong Kong Public Offering.
+In view of the 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 Shares.
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