hk-ipo/data/extracted_text/02465/allotment_results_2024-10-29_2024102901308.txt

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Hong Kong Exchanges and Clearing Limite d, 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 complet eness 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 relea se, publication, distribution, directly or indirectly, in or
into the United States (including its territo ries and possessions, any state of the United
States and the District of Columbia) or any oth er jurisdiction where such distribution is
prohibited by law. This announcement does not constitute or form a part of any offer to sell
or solicitation of an offer to buy, to purchas e or subscribe for securities nor shall there be
any sale of Offer Shares in the United States or in any other jurisdictions in which such offer
or solicitation would be unlawful. The securiti es mentioned herein have not been, and will
not be, registered under the United States S ecurities Act of 1933 as amended from time to
time (the ‘‘ U.S. Securities Act ’’) or any state securities law of the United States. The
securities may not be offered, sold, pledged, o r 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 (‘‘Regulation S ’’)) except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the U.S. Securities Act and in compliance
with any applicable state secur ities laws. There will be no public offering of securities in the
United States. The Offer Shares are being of fered and sold outside the United States in
offshore transactions in reliance on Re gulation S under the U.S. Securities Act.
This announcement is for information purposes only and does not consti tute an invitation or
offer to acquire, purchase or subscribe for securities of the Company. This announcement is
not a prospectus. Potential investors should r ead the prospectus dat ed Tuesday, October 22,
2024 (the ‘‘Prospectus ’’) issued by Jiangsu Lopal Tech. Co., Ltd. (
江蘇龍蟠科技股份有限
公司)( t h e‘ ‘Company ’’) for detailed information about the Global Offering described below
before deciding whether or not to invest in t he H Shares thereby being offered. Any
investment decision in relation to the Offer S hares should be taken solely in reliance on the
information in the Prospectus.
Unless otherwise defined in this announcement, capitalised terms used herein shall have the
same meanings as those defined in the Prospectus.
–1–


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In connection with the Global Offering, Guotai Junan Securities (Hon g Kong) Limited, as
stabilizing manager (the ‘‘ Stabilizing Manager ’’), or any person acting for it, on behalf of
the Underwriters, may effect tr ansactions with a view to stabilizing or supporting the
market price of the H Shares at a level higher th an that which might otherwise prevail for a
limited period after the Listing Date. Howeve r, there is no obligation on the Stabilizing
Manager, or any person acting for it, to condu ct any such stabilizing action, which, if
commenced, will be done at the sole and absolut e discretion of the Stabilising Manager, or
any person acting for it, and may be discontinue d at any time. Any such stabilizing action 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 Offe ring, being Sunday, November 24, 2024. Such
stabilisation action, if taken, ma y be effected in all jurisdictio ns where it is permissible to do
so, in each case in compliance with all applic able laws, rules and regul atory requirements,
including the Securities and Futures (Pric e Stabilizing) Rules ( Cap. 571W of the Laws of
Hong Kong), as amended, made under the Secur ities and Futures Ordinance (Cap. 571 of
the Laws of Hong Kong).
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 K ong Underwriting Agreement with immediate
effect upon the occurrence of any of th e 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.
Potential investors should be aware that st abilising action cannot be taken to support the
price of the H Shares for longer than the stabi lisation period which begins on the Listing
Date and is expected to expire on Sunday, Nov ember 24, 2024, being the 30th day after the
last day for the lodging of applications unde r the Hong Kong Public Offering. After this
date, no further stabilising action may be tak en, demand for the H Shares, and therefore the
price of the H Shares, could fall.
–2–


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Jiangsu Lopal Tech. Co., Ltd.
江 蘇 龍 蟠 科 技 股 份 有 限 公 司
(a joint stock company incorporated in the Peopl e’s Republic of China with limited liability)
GLOBAL OFFERING
Number of Offer Shares under the Global Offering : 100,000,000 H Shares (subject to the
Over-allotment Option)
Number of Hong Kong Offer Shares : 10,000,000 H Shares (as adjusted after reallocation)
Number of International Offer Shares : 90,000,000 H Shares ((as adjusted after reallocation
and subject to the Over-allotment Option)
Final Offer Price : HK$5.5 per H Share plus brokerage of 1.0%, SFC
transaction levy of 0.0027%, Stock Exchange
trading fee of 0.00565% and AFRC transaction
levy of 0.00015%
Nominal value : RMB1.00 per H Share
Stock Code : 2465
Joint Sponsors
Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers
Joint Bookrunners and Joint Lead Managers
–3–


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JIANGSU LOPAL TECH. CO., LTD. / 江蘇龍蟠科技股份有限公司
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 22 October 2024 (the “Prospectus”) issued by Jiangsu Lopal Tech.
Co., Ltd. (the “Company”).
SUMMARY

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.

Company information
Stock code  2465
Stock short name  LOPAL TECH
Dealings commencement date  30 October 2024*
*see note at the end of the announcement

Price Information
Final Offer Price  HK$5.500
Offer Price Range HK$4.500 - HK$7.000
Offer Price Adjustment exercised  No

Offer Shares and Share Capital
Number of Offer Shares  100,000,000
Number of Offer Shares in Public Offer  10,000,000
Number of offer shares in International Offer  90,000,000
Number of issued shares upon Listing (Note) 665,078,903

Note: Without taking into account any exercise of the Over-allotment Option or exercise of outstanding
options granted under the 2023 Share Option Scheme
Over-allocation
No. of Offer Shares over-allocated  15,000,000
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$ 550.00 million
Less: Estimated listing expenses payable based on Final
Offer Price
HK$ (55.00) million
Net proceeds  HK$ 495.00 million

Note: Gross proceeds refers to the amount to which the issuer is entitled to receive. For details of the use
of proceeds, please refer to the Prospectus dated 22 October 2024. The Company will adjust the
allocation of the net proceeds from the exercise of the Over-allotment Option (if any) for the purpose as
set out in the section headed “Future Plans and Use of Proceeds” of the Prospectus on a pro rata basis.


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ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING

No. of valid applications  6,292
No. of successful applications  5,378
Subscription level  3.99 times
Claw-back triggered  No
No. of Offer Shares initially available under the Hong Kong Public
Offering
10,000,000
Final no. of Offer Shares under the Hong Kong Public Offering  10,000,000
% of Offer Shares under the Public Offer to the Global Offering
(Note)
10.0%

Notes:
1. For details of the final allocation of shares to the Hong Kong Public Offering, investors can refer to
www.eipo.com.hk/eIPOAllotment to perform a search by identification number or
www.eipo.com.hk/eIPOAllotment for the full list of allottees.
2. Assuming the Over-allotment Option is not exercised and no exercise of outstanding options granted
under the 2023 Share Option Scheme

INTERNATIONAL OFFERING

No. of placees  128
Subscription Level  3.23 times
No. of Offer Shares initially available under the International
Offering
90,000,000
Final no. of Offer Shares under the International Offering  90,000,000
% of Offer Shares under the International Offer to the Global
Offering (Note)
90.00%

Note: Assuming the Over-allotment Option is not exercised and no exercise of outstanding options granted
under the 2023 Share Option Scheme
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 certain Existing Minority Shareholders and
their 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 subsidiaries or their respective close associates in relation to the acquisition,
disposal, voting or other disposition of Shares registered in his/her/its name or otherwise held by him/her/it.


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As (i) the Hong Kong Public Offering is oversubscribed by less than 15 times and (ii) the reallocation
pursuant to Chapter 4.14 of the Guide for New Listing Applicants as described in the section headed
“Structure of the Global Offering – The Hong Kong Public Offering – Reallocation” of the Prospectus is not
exercised, no clawback arrangement will be triggered.

The placees in the International Offering include the following:
Cornerstone Investor

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
(assuming the
Over-allotment
Option is not
exercised and
no exercise of
outstanding
options granted
under the 2023
Share Option
Scheme)
Existing
shareholders or
their close
associates
Harvest
International
Premium Value
(Secondary
Market) Fund
SPC acting on
behalf
of and for the
account of
Harvest Oriental
SP (“Harvest
Oriental”) 20,000,000 20.00%











20.00% 3.01% No
Total 20,000,000 20.00% 20.00% 3.01%

Note:
For further details of the cornerstone investor, please refer to the section headed “Cornerstone Investor” of
the Prospectus.


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Allottees with waivers/consents obtained

Investor
No. of
shares
allocated
% 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 and
no exercise of
outstanding
options granted
under the 2023
Share Option
Scheme) Relationship*
MORGAN
STANLEY &
CO
INTERNATIO
NAL PLC
2,692,000
(Note 1) 2.69%
2.69%
0.40% (Note 2)
Existing
Minority
Shareholders
Total 2,692,000 2.69% 2.69% 0.40%

Notes:
1. The H Shares placed to the above allottee are in compliance with all the conditions under the consent
granted by the Stock Exchange.
2. Represents the number of H Shares allocated to such placee (without taking into account the A
Shares held by such placee before the Global Offering) divided by the total issued share capital of
the Company after the Global Offering.

*The Company has applied for, and the Exchange has approved, a waiver from strict compliance with
Main Board Rule 10.04. Please refer to the “Waivers From Strict Compliance With The Hong Kong
Listing Rules And Exemptions From Compliance With The Companies (Winding Up And Miscellaneous
Provisions) Ordinance” section in the Company’s Prospectus and the section headed “Others/
Additional Information – Placing to existing Shareholders and/or their close associates with a waiver from
the strict compliance with Rule 10.04 of the Listing Rules and a prior consent under paragraph 5(2) of the
Placing Guidelines” in this announcement for further details.


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Allottees who are customer(s) or client(s) / supplier(s) of the issuer
Investor Number of Offer
Shares allocated
% of total issued H
Shares immediately
following the
completion of
the Global Offering
(assuming the Over-
allotment Option is
not exercised and
no exercise of
outstanding options
granted under the
2023 Share Option
Scheme)
% of the total issued
share capital
immediately
following the
completion of
the Global Offering
(assuming the Over-
allotment Option is
not exercised and
no exercise of
outstanding options
granted under the
2023 Share Option
Scheme)
Relationship
Infinitude Holding
Limited (Note)
4,957,000 4.96% 0.75% Customer of
the issuer

Note: The ultimate beneficial owner of Infinitude Holding Limited is REPT BATTERO Energy Co., Ltd. (stock
code: 0666), which is one of the Company’s major customers during the Track Record Period.  Please refer
to the section headed “Business – Our Businesses – LFP Cathode Materials” in the Prospectus for further
details.
LOCK-UP UNDERTAKINGS
Controlling Shareholders
 Name
Number of shares held
in the Company subject
to lock-up
undertakings  upon
listing
% of shareholding in
the Company subject to
lock-up  undertakings
upon listing (assuming
the  Over-allotment
Option is not  exercised
and no exercise of
outstanding options
granted under the 2023
Share Option Scheme)
Last day subject  to the
lock-up  undertakings
Shi Junfeng / 石俊峰
(Note 1)
238,182,052 35.81% 29 April 2025 (First Six-
Month Period) Note 2
   29 October 2025
(Second Six-Month
Period) Note 3
Zhu Xianglan / 朱香蘭
(Note 1)
238,182,052 35.81% 29 April 2025 (First Six-
Month Period) Note 2
   29 October 2025
(Second Six-Month
Period) Note 3
Nanjing Bailey Venture
Capital Center (Limited
Partnership) / 南京貝利
1,901,208 0.29% 29 April 2025 (First Six-
Month Period) Note 2


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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
and no exercise of
outstanding options
granted under the 2023
Share Option Scheme)
Last day subject  to the
lock-up  undertakings
創業投資中心（有限合
夥）(Note 1)
   29 October 2025
(Second Six-Month
Period) Note 3
Lopal International
Holdings Co., Ltd. / 龍
蟠國際控股有限公司
(“Lopal International”)
(Note 1)
1,901,208 0.29% 29 April 2025 (First Six-
Month Period) Note 2
   29 October 2025
(Second Six-Month
Period) Note 3

Notes
1. Immediately following the completion of the Global Offering (assuming the Over -allotment Option
is not exercised and the options granted under the 2023 Share Option Scheme are not exercised),
Mr. Shi, Ms. Zhu (Mr. Shi’s wife) and Nanjing Bailey will direct ly own approximately 31.98%,
3.55% and 0.29% respectively of the total issued share capital of our Company, representing
approximately 32.08%, 3.56% and 0.29%, respectively, of the voting rights of the Company (which
excluded the 2,082,400 A shares held by the Company as treasury shares). Lopal International was
the general partner of Nanjing Bailey and was owned as to 90% by Mr. Shi and as to 10% by Ms.
Zhu. Accordingly, Mr. Shi, Ms. Zhu, Lopal International and Nanjing Bailey will be a group of
Controlling Shareholders controlling in aggregate approximately 35.81% of the total issued share
capital of our Company, representing approximately 35.93% of the voting rights of our Company
(which excluded the 2,082,400 A shares held by the Company as treasury shares), upon Listing.

2. In accordance with the relevant Listing Rule/guidance materials, the required lock -up for the first six -month period
ends on 29 April 2025. The Controlling Shareholder may dispose of or transfer Shares after the indicated  date subject
to that the Controlling  Shareholder  will not cease to be a Controlling  Shareholder.

3. In accordance with the relevant Listing Rule/guidance materials, the required lock -up for the second six-month period,
on 29 October 2025. The Controlling Shareholder  will cease to be prohibited from disposing of or transferring   Shares
after the indicated  date.


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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 and no
exercise of
outstanding
options granted
under the 2023
Share Option
Scheme)
Last day
subject  to
the lock-up
undertakings
Harvest Oriental 20,000,000 20.00% 3.01% 29 April
2025
Subtotal 20,000,000 20.00% 3.01%

In accordance with the Cornerstone Investment Agreement, the required lock-up ends on 29 April 2025.
The Cornerstone Investor will cease to be prohibited from disposing of or transferring H Shares
subscribed for pursuant to the Cornerstone Investment Agreement after the indicated date.


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PLACEE CONCENTRATION ANALYSIS
Placees
(Note 1)
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 in full 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 in
full 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 in full and new H
Shares are issued)
Top 1 20,000,000 22.22% 19.05% 20.00% 17.39% 20,000,000 3.01% 2.94%
Top 5 54,774,000 60.86% 52.17% 54.77% 47.63% 54,774,000 8.24% 8.05%
Top 10 78,363,000 87.07% 74.63% 78.36% 68.14% 78,363,000 11.78% 11.52%
Top 25 103,266,000 114.74% 98.35% 103.27% 89.80% 103,638,355 15.58% 15.24%

Notes
1. Ranking of placees is based on the number of H Shares allotted to the placees.
2. All percentages above are calculated on the assumption that there is no exercise of outstanding options granted under the 2023 Share Option Scheme.


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H SHAREHOLDERS CONCENTRATION ANALYSIS
H
Shareholders
(Note 1)
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 in
full 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
in full
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
in full
and
new H
Shares
are
issued)













Number
of
Shares
held
prior to
Listing
Number of
Shares held
upon Listing

 Top 1 20,000,000 22.22% 19.05% 20.00% 17.39% 20,000,000 20.00% 17.39% 0 20,000,000
 Top 5 54,774,000 60.86% 52.17% 54.77% 47.63% 54,774,000 54.77% 47.63% 0 54,774,000
 Top 10 78,363,000 87.07% 74.63% 78.36% 68.14% 78,363,000 78.36% 68.14% 0 78,363,000
 Top 25 103,708,000 113.25% 97.07% 103.71% 90.18% 103,708,000 103.71% 90.18% 372,355 104,080,355

Notes
1. Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
2. All percentages above are calculated on the assumption that there is no exercise of outstanding options granted
under the 2023 Share Option Scheme.

SHAREHOLDER CONCENTRATION ANALYSIS
Sharehol
ders (Note
1)
Number of
H Shares all
otted

Allotment
as % of
Internatio
nal
Offering
(assuming
no exercise
of the
Over-
allotment
Option)
Allotment as
% of
International
Offering
(assuming
the Over-
allotment
Option is
exercised in
full 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 in
full 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 in
full and
new H
Shares are
issued)
Top 1 0 0.00% 0.00% 0.00% 0.00% 0 238,182,052 35.81% 35.02%
Top 5 47,721,500 53.02% 45.45% 47.72% 41.50% 47,721,500 285,903,552 42.99% 42.04%
Top 10 65,330,500 72.59% 62.22% 65.33% 56.81% 65,330,500 315,709,614 47.47% 46.42%
Top 25 92,154,000 102.39% 87.77% 92.15% 80.13% 92,154,000 365,678,161 54.98% 53.77%


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Notes
1. Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.
2. All percentages above are calculated on the assumption that there is no exercise of outstanding options granted
under the 2023 Share Option Scheme.

BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the Prospectus, valid applications made by
the public will be conditionally allocated on the basis set out below:

NO. OF SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT / BALLOT
APPROXIMATE
PERCENTAGE ALLOTTED
OF THE TOTAL NO. OF
SHARES APPLIED FOR
  POOL A
500 3,049 2,135 out of 3,049 to receive 500 Shares 70.02%
1,000 944 500 Shares 50.00%
1,500 370 500 Shares plus 63 out of  370 to receive additional 500 Shares  39.01%
2,000 291 500 Shares plus 115 out of  291 to receive additional 500 Shares 34.88%
2,500 148 500 Shares plus 88 out of  148 to receive additional 500 Shares  31.89%
3,000 199 500 Shares plus 159 out of  199 to receive additional 500 Shares  29.98%
3,500 52 1,000 Shares 28.57%
4,000 98 1,000 Shares plus 16 out of  98 to receive additional 500 Shares  27.04%
4,500 37 1,000 Shares plus 14 out of  37 to receive additional 500 Shares  26.43%
5,000 262 1,000 Shares plus 157 out of  262 to receive additional 500 Shares 25.99%
6,000 70 1,000 Shares plus 53 out of  70 to receive additional 500 Shares  22.98%
7,000 68 1,500 Shares 21.43%
8,000 52 1,500 Shares plus 17 out of  52 to receive additional 500 Shares 20.79%
9,000 18 1,500 Shares plus 12 out of  18 to receive additional 500 Shares  20.37%
10,000 242 2,000 Shares 20.00%
15,000 99 2,000 Shares plus 50 out of  99 to receive additional 500 Shares 15.02%
20,000 65 2,500 Shares 12.50%
25,000 35 2,500 Shares plus 18 out of  35 to receive additional 500 Shares  11.03%
30,000 46 3,000 Shares 10.00%
35,000 12 3,000 Shares plus 6 out of  12 to receive additional 500 Shares 9.29%
40,000 19 3,500 Shares 8.75%
45,000 11 3,500 Shares plus 6 out of  11 to receive additional 500 Shares  8.38%
50,000 25 4,000 Shares 8.00%
60,000 9 4,000 Shares plus 5 out of  9 to receive additional 500 Shares 7.13%
70,000 8 4,500 Shares 6.43%
80,000 7 4,500 Shares plus 4 out of  7 to receive additional 500 Shares  5.98%
90,000 4 5,000 Shares 5.56%
100,000 23 5,000 Shares plus 12 out of  23 to receive additional 500 Shares 5.26%
200,000 10 10,000 Shares 5.00%
300,000 5 14,500 Shares 4.83%


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400,000 1 19,000 Shares 4.75%
600,000 1 28,000 Shares 4.67%
700,000 2 32,000 Shares 4.57%
 6,282 Total number of Pool A successful applicants: 5,368
  POOL B
800,000 4 357,500 Shares 44.69%
1,000,000 4 446,500 Shares 44.65%
2,000,000 2 892,000 Shares 44.60%
 10 Total number of Pool B successful applicants: 10

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
Placing to Existing Minority Shareholders and their close associates with a waiver from the strict
compliance with Rule 10.04 of the Listing Rules and a prior consent under paragraph 5(2) of the
Placing Guidelines

Our Company has applied to the Stock Exchange, and the Stock Exchange has granted, a waiver from
the strict compliance with Rule 10.04 of the Listing Rules and a consent under paragraph 5(2) of the
Placing Guidelines to permit our Company to allocate such Offer Shares in the International Offering to
the Existing Minority Shareholders and their close associates listed above. The allocation of Offer
Shares to such Existing Minority Shareholders and their close associates is in compliance with all the
conditions under the waiver/consent granted by the Stock Exchange, including but not limited to (i) each
of such Existing Minority Shareholders to whom our Company allocated H Shares in the International
Offering holds less than 5% of the  voting rights of our Company before Listing, and (ii) each of such
existing Existing Minority is not a core connected person of our Company or any close associate of any
such core connected person immediately prior to the Global Offering.

For details of the allocations of Offer Shares to Existing Minority Shareholders and their close
associates, please refer to the section headed “Allotment Results Details – International Offer – Allotees
with Waivers/Consents Obtained” in this announcement.


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Reallocation

As (i) the Hong Kong Public Offering is oversubscribed by less than 15 times and (ii) the reallocation
pursuant to Chapter 4.14 of the Guide for New Listing Applicants as described in the section headed
“Structure of the Global Offering – The Hong Kong Public Offering – Reallocation” of the Prospectus is
not exercised, no clawback arrangement will be triggered.

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 22 October 2024 issued by Jiangsu Lopal Tech. 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 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 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 30 October
2024).


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PUBLIC FLOAT

Our 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 our Company immediately after the Global Offering; and (v) there will not be
any new substantial Shareholder (as defined in the Listing Rules) of our Company.


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COMMENCEMENT OF DEALINGS
H Share certificates will only become valid evidence of title at 8 : 00 a.m. on Wednesday,
October 30, 2024 (Hong Kong time), provid ed that the Global Offering has become
unconditional and the right of terminat ion 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 prior to the H 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 Wednesday, October 30, 2024, it is expected that dealings in the H
Shares on the Stock Exchange will commenc e at 9 : 00 a.m. on Wednesday, October 30,
2024. The H Shares will be traded in board lots of 500 H Shares each and the stock code
of the H Shares will be 2465.
By order of the Board
Jiangsu Lopal Tech. Co., Ltd.
(江蘇龍蟠科技股份有限公司)
Shi Junfeng
Chairman and Executive Director
Hong Kong, October 29, 2024
As at the date of this announcement, the Boa rd comprises (i) Mr. Shi Junfeng, Mr. Lu
Zhenya, Mr. Qin Jian, Mr. Shen Zhiyong and M r. Zhang Yi as executive Directors; (ii)
Ms. Zhu Xianglan as non-executive Directo r; (iii) Mr. Li Qingwen, Mr. Ye Xin and Ms.
Geng Chengxuan as independent non-execu tive Directors and Mr. Hong Kam Le as
proposed independent non-executive Director.
–4–