hk-ipo/data/extracted_text/02555/allotment_results_2024-04-22_2024042202135.txt

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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 Monday, April 15, 2024 (the “Prospectus ”) issued by Sichuan Baicha Baidao
Industrial Co., Ltd. (ʮ̡ ) (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 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.
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, or (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 unless in compliance with Regulation S under the U.S.
Securities Act. There will be no public offer of securities in the United States.
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, 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 Stabilization 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 Stabilization 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 Stabilization 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 (which is Saturday,
May 18, 2024). 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 (which is Saturday, May 18, 2024).
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 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 – 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,
April 23, 2024).


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2
Sichuan Baicha Baidao Industrial 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
: 147,763,400 H Shares (subject to the
Over-Allotment Option)
Number of Hong Kong Offer Shares :7,335,600 H Shares
Number of International Offer Shares :140,427,800 H Shares (subject t o
the Over-Allotment Option)
Offer Price : HK$17.50 per H Share, plus brokerage
of 1.0%, SFC transaction l evy of
0.0027%, AFRC transaction levy of
0.00015% and Stock Exchang e
trading fee of 0.00565%
Nominal value : RMB0.1 per H share
Stock code : 2555
Sole Sponsor and Sole Overall Coordinator
Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers
Joint Bookrunners and Joint Lead Managers


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Sichuan Baicha Baidao Industrial Co., Ltd. / 四川百茶百道實業股份有限公司
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 15 April 2024 (the “Prospectus”) issued by Sichuan Baicha Baidao
Industrial Co., Ltd. (the “Company”).

Warning:  In view of high concentration of shareholding in a sm all 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  2555
Stock short name  CHABAIDAO
Dealings commencement date  23 April 2024*
*see note at the end of the announcement

Price Information
Final Offer Price  HK$17.50
Offer Price Adjustment exercised  No

Offer Shares and Share Capital
Number of Offer Shares  147,763,400
Number of Offer Shares in Public Offer (after reallocation) 7,335,600
Number of offer shares in International Offer (after
reallocation) 140,427,800
Number of issued shares upon Listing (assuming the Over-
Allotment Option is not exercised)
1,477,634,250


Over-allocation
No. of Offer Shares over-allocated  3,115,600
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$2,585.86 million
Less: Estimated listing expenses payable based on Final
Offer Price
HK$122.60 million
Net proceeds  HK$2,463.26 million

Note: Gross proceeds refers to the amount to which th e 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
15 April 2024.


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ALLOTMENT RESULTS DETAILS
PUBLIC OFFER

No. of valid applications  4,593
No. of successful applications  4,593
Subscription level  0.50 times
Claw-back triggered  No
No. of Offer Shares initially available under the Public Offer  14,776,400
Final no. of Offer Shares under the Public Offer (after reallocation) 7,335,600
% of final no. of Offer Shares under the Public Offer to the Global
Offering (after reallocation)
4.96%
% of final no. of Offer Shares under the Public Offer to the Global
Offering (after reallocation and over-allocation)
4.86%

Note: For details of the final allocation of shares to the Public Offer, investors can refer to
www.eipo.com.hk/eIPOAllotment to perform a sear ch by name or identification number or
www.eipo.com.hk/eIPOAllotment for the full list of allottees.
INTERNATIONAL OFFER

No. of placees  122
Subscription Level  1.11 times
No. of Offer Shares initially available under the International Offer 132,987,000
No. of Offer Shares reallocated from the Public Offer 7,440,800
Final no. of Offer Shares under the International Offer (after
reallocation)
140,427,800
% of final no. of Offer Shares under the International Offer to  the
Global Offering (after reallocation)
95.04%
Final no. of Offer Shares under the International offer (after
reallocation and over-allocation)
143,543,400
% of final no. of Offer Shares under the International Offer to  the
Global Offering (after reallocation and over-allocation)
95.14%

The Directors confirm that, to the best of their knowledge, information and belief, save as a waiver from strict
compliance with Rule 10.04 of the Listing Rules and a consent under paragraph 5(2) of the Placing Guidelines
(as defined below) granted by the St ock Exchange to permit the Company to  allocate certain Offer Shares in
the International Offering to Yunhang Supply (as defined below), (i) none of the Offer Shares subscribed by
the placees and the public have been fi nanced directly or indi rectly by the Company, any of the Directors,
Supervisors, chief executive of the Company, controlling shareholde rs, substantial shareholders, existing
shareholders of the Company or any of  its subsidiaries or their respecti ve close associates; and (ii) none of
the placees and the public who have purchased the Offer Sh ares are accustomed to taking instructions from
the Company, any of the Directors, the Supervisors, chief executive of the Company, controlling shareholders,
substantial shareholders, existing shareholders of the Co mpany or any of its subsid iaries or their respective
close associates in relation to the acquisition, disposal , voting or other dispositi on of Shares registered in
his/her/its name or otherwise held by him/her/it.
There are a total of 122 placees under the Internati onal Offering. A total of 100 placees have been allotted
five board lots of the Offer Shares or less, representing approximately 81.97% of the 122 placees under the
International Offering. These placees have been allotted 20,000 Offer Shares in total, representing
approximately 0.014% of the total number of the Offe r Shares under the International Offering (before any


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exercise of the Over-Allotment Option). A total of 100 placees have been allotted one board lot of the Offer
Shares, representing approximately 81.97% of the 122 placees under the International Offering. These placees
have been allotted 20,000 offer Share s in total, represen ting approximately 0.014% of  the total number of
Offer Shares under the International Offering (before any exercise of the Over-Allotment Option).
The placees in the International Offer include the following:
Allottees 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
Yunhang Supply Chain
(Hong Kong) Limited
("Yunhang Supply") 13,273,000 8.98% 0.90%
Yunhang Supply is a
close associate of an
existing shareholder of
the Company Note 1
GF Securities Asset
Management
(Guangdong) Co., Ltd.
Note 2 671,000 0.45% 0.045%
Each of GF
Securities Asset
Management
(Guangdong) Co.,
Ltd. and GF Securities
(Hong Kong) Brokerage
Limited, a distributor, is
a member of the same
group of
companies
Note 2
Total 13,944,000 9.44% 0.94%
Notes:

(1) Yunhang Supply is a close associate of Chengdu Xinjin  Shengwang Jiaozi New Consumer Equity Investment Fund
Partnership (Limited Partnership) ("Xinjin Shengwang"). Yunhang Supply and Xinjin Shengwang in aggregate will hold
approximately 1.15% 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 (as defined below) to permit the Company to allocate  such Offer Shares in the International Offering to Yunhang
Supply. The allocation of Offer Shares to Yunhang Supply 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) GF Securities Asset Management (Guangdong) Co., Ltd. is a direct wholly-owned subsidiary of GF Securities Co., Ltd. (a
company listed on the Stock Exchange, Stock Code: 1776) (“ GF Securities”) and GF Securities (Hong Kong) Brokerage
Limited, a distributor, is an indirect wholly-owned subsidiary  of GF Securities. Therefore, each of GF Securities Asset
Management (Guangdong) Co., Ltd. and GF Securities (Hong Kong)  Brokerage Limited is a member of the same group of
companies. 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 (as defined below) to permit the Company to allocate such Offer Shares in the
International Offering to GF Securities Asset Management (G uangdong) Co., Ltd. The allocation of Offer Shares to GF
Securities Asset Management (Guangdong) Co., Ltd. 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.


LOCK-UP UNDERTAKINGS
Controlling Shareholders


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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)
Last day subject  to the
lock-up  undertakings
Sichuan Hengsheng
Herui Industrial Group
Co., Ltd. / 四川恒盛合
瑞實業集團有限公司
Note 2
900,000,000 60.9082% 22 April 2025 Note 1
Chengdu Jinbosen
Enterprise Management
Co., Ltd. / 成
都錦柏森企業管理有限
公司
 Note 2
900,000,000 Note 3 60.9082% Note 3 /
Mr. Wang Xiaokun / 王
霄錕 Note 2
239,598,750 16.2150% 22 April 2025 Note 1
Ms. Liu Weihong/ 劉洧
宏 Note 2
76,399,250 5.1704% 22 April 2025 Note 1
Sichuan Tongchuang
Gongjin Enterprise
Management Partnership
(Limited Partnership) /
四川同創共進企業管
理合夥企業(有限合夥)

Note 2
6,386,000 0.4322% 22 April 2025 Note 1
Subtotal 1,222,384,000 82.73%


Notes:
(1) The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Law. In accordance with the
relevant Listing Rules/guidance materials, the required lock-up for the first six-month period ends on 22 October 2024 and for
the second six-month period ends on 22 April 2025.

(2) Immediately following the co mpletion of the Global Offering (assuming the Over-Allotment Option is not exercised), the
Company is owned directly as to (i) approximately 60.9082% by Sichuan Hengsheng Herui Industrial Group Co., Ltd., (ii)
approximately 16.2150% by Mr. Wang Xiaokun, (iii) approximately 5.1704% by Ms. Liu Weihong and (iv) approximately
0.4322% by Sichuan Tongchuang Gongjin Enterprise Management Partnership (Limited Partnership) , the pre-IPO Employee
Incentive Platform of the Company. Mr. Wang Xiaokun and Ms. Liu Weihong are spouses. Sichuan Hengsheng Herui Industrial
Group Co., Ltd. is a company directly owned as to 84.8880% by Chengdu Jinbosen Enterprise Management Co., Ltd., which in
turn is wholly owned by Mr. Wang Xiaokun and Ms. Liu Weihong collectively. Sichuan Tongchuang Gongjin Enterprise
Management Partnership (Limited Partnership) is controlled by Mr. Wang Xiaokun as its sole general partner. Accordingly,
Mr. Wang Xiaokun, Ms. Liu Weihong, Chengdu Jinbosen Enterprise Management Co., Ltd., Sichuan Hengsheng Herui
Industrial Group Co., Ltd. and Sichuan Tongchuang Gongjin Enterprise Management Partnership (Limited Partnership) are a
group of controlling shareholders of the Company.

(3) Sichuan Hengsheng Herui Industrial Group Co., Ltd. is a company directly owned as to 84.8880% by Chengdu Jinbosen
Enterprise Management Co., Ltd., and by virtue of SFO, Chengdu Jinbosen Enterprise Management Co., Ltd. is deemed to be
interested in the Share
s held by Sichuan Hengsheng Herui Industrial Group Co., Ltd.

Pre-IPO Investors (as defined in the Prospectus)


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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)
Last day subject  to the
lock-up  undertakings
TOWER QUALITY
LIMITED
60,606,060 4.1016% 22 April 2025
Shanghai Tanying
Investment Partnership
(Limited Partnership) /
上海檀英投資合夥企業
(有限合夥)
2,272,730 0.1538% 22 April 2025
Suzhou Yuexiang Equity
Investment Partnership
(Limited Partnership) /
蘇州悅享股權投資合夥
企業(有限合夥)
3,030,300 0.2051% 22 April 2025
Chengdu Xinjin
Shengwang Jiaozi New
Consumer Equity
Investment Fund
Partnership (Limited
Partnership) /
成都新津昇望交子新消
費股權投資基金合夥企
業(有限合夥)
3,787,880 0.2563% 22 April 2025
Nanjing Yellow Tomato
Equity Investment
Partnership (Limited
Partnership) /
南京黃番茄股權投資合
夥企業(有限合夥)
2,272,730 0.1538% 22 April 2025
CICC Tongfu
(Quanzhou) Consumer
Industry Venture Capital
Fund Partnership
(Limited
Partnership) /
中金同富(泉州)消費產
業創業投資基金合夥企
業(有限合夥)
1,515,150 0.1025% 22 April 2025
Subtotal 73,484,850 4.97%

Note: The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Law.


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Existing Shareholders (other than the Pre-IPO Investors as defined in the Prospectus)
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
Ms. Dai Li / 戴利 17,505,000 1.1847% 22 April 2025
Mr. Wang Hongxue / 汪
紅學
8,505,000 0.5756% 22 April 2025
Ms. Gu Jilin / 古計林 4,999,500 0.3383% 22 April 2025
Mr. Chen Keyuan / 陳克
遠
2,992,500 0.2025% 22 April 2025
Subtotal 34,002,000 2.30%
Note: The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Law.


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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)
ꞏ% of total issued share
capital upon Listing
(assuming the Over-
Allotment Option is
exercised and new H
Shares are issued)
Top 1 22,323,400 15.90% 15.55% 15.11% 14.80% 22,323,400 1.51% 1.51%
Top 5
Note 1
 73,171,400 52.11% 50.98% 49.52% 48.50% 76,959,280 5.21% 5.20%
Top 10
 Note 1
 121,821,400 86.75% 84.87% 82.44% 80.74% 125,609,280 8.50% 8.48%
Top 25
 Note 1
 143,524,000 102.20% 99.99% 97.13% 95.13% 147,311,880 9.97% 9.95%

Notes
* Ranking of placees is based on the number of H Shares allotted to the placees.
(1) Includes Shares held by Yunhang Supply. Xinjin Shengwang is an existing Shareholder of the Company. The general partner of Xinjin Shengwang is Sichuan Heshun Shengwang
Enterprise Management Center (Limited Partnership) (
四川和順昇望企業管理中⼼（有限合夥)）, which is ultimately controlled by Mr. Liu Yonghao (
劉永好). Yunhang Supply is
ultimately controlled by Mr. Liu Yonghao.


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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 Note 1 0 0.00% 0.00% 0.00% 0.00% 1,222,384, 000 82.73% 82.55% 1,222,384,000
 Top 5 Note 1
and Note 2
35,596,400 25.35% 24.80% 24.09% 23.59% 1,339,879,340 90.68% 90. 49% 1,339,879,340
 Top 10 Note 1
and Note 2
95,089,400 67.71% 66.24% 64.35% 63.02% 1,399,372,340 94.70% 94. 50% 1,399,372,340
 Top 25 Note 1
and Note 2
140,782,400 100.25% 98.08% 95.28%  93.31% 1,470,653,250 99.53% 9 9.32% 1,470,653,250

Notes
* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
(1) Refers
to the group of controlling shareholders of the Company. See notes to lock-up undertakings of Controlling
Shareholders above for details.
(2) The Shares held by Yunhang Supply and Xinjin Shengwang have been aggregated for the purpose of this analysis. The
general partner of Xinjin Shengwang is Sichuan Heshun Shengwang Enterprise Management Center (Limited Partnership)
(四川和順昇望企業管理中心（有限合夥)）, which is ultimately controlled by Mr. Liu Yonghao ( 劉永好). Yunhang
Supply is ultimately controlled by Mr. Liu Yonghao.

SHAREHOLDER CONCENTRATION ANALYSIS
Sharehol
ders
Number
of  H Sha
res allott
ed
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
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)


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issued)
Top 1 Note
1
0 0.00% 0.00% 0.00% 0.00% 1,222,384,00
0
1,222,384,00
0
82.73% 82.55%
Top 5 Note
1 and Note 2
35,596,4
00
25.35% 24.80% 24.09% 23.59% 1,339,879,34
0
1,339,879,34
0
90.68% 90.49%
Top 10
Note 1 and
Note 2
95,089,4
00
67.71% 66.24% 64.35% 63.02% 1,399,372,34
0
1,399,372,34
0
94.70% 94.50%
Top 25
Note 1 and
Note 2
140,782,
400
100.25% 98.08% 95.28% 93.31% 1,470,653,25
0
1,470,653,25
0
99.53% 99.32%

Notes
* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.
(1) Refers to the group of controlling shareholders of the Company. See notes to lock-up undertakings of Controlling
Shareholders above for details.
(2) The Shares held by Yunhang Supply and Xinjin Shengwang have been aggregated for the purpose of this analysis. The
general partner of Xinjin Shengwang is Sichuan Heshun Shengwang Enterprise Management Center (Limited Partnership)
(四川和順昇望企業管理中心（有限合夥)）, which is ultimately controlled by Mr. Liu Yonghao ( 劉永好). Yunhang
Supply is ultimately controlled by Mr. Liu Yonghao.


BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
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:


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 2,598 200 Shares 100.00%
400 699 400 Shares 100.00%
600 270 600 Shares 100.00%
800 86 800 Shares 100.00%
1,000 221 1,000 Shares 100.00%
1,200 84 1,200 Shares 100.00%


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1,400 24 1,400 Shares 100.00%
1,600 35 1,600 Shares 100.00%
1,800 24 1,800 Shares 100.00%
2,000 227 2,000 Shares 100.00%
3,000 60 3,000 Shares 100.00%
4,000 53 4,000 Shares 100.00%
5,000 41 5,000 Shares 100.00%
6,000 24 6,000 Shares 100.00%
7,000 4 7,000 Shares 100.00%
8,000 6 8,000 Shares 100.00%
9,000 10 9,000 Shares 100.00%
10,000 67 10,000 Shares 100.00%
20,000 24 20,000 Shares 100.00%
30,000 17 30,000 Shares 100.00%
50,000 7 50,000 Shares 100.00%
60,000 4 60,000 Shares 100.00%
70,000 1 70,000 Shares 100.00%
80,000 1 80,000 Shares 100.00%
90,000 1 90,000 Shares 100.00%
100,000 1 100,000 Shares 100.00%
 4,589 Total number of Pool A successful applicants: 4,589
POOL B
300,000 3 300,000 Shares 100.00%
1,000,000 1 1,000,000 Shares 100.00%
 4 Total number of Pool B successful applicants: 4

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 h ave 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 Off er 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


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Placing with a waiver from strict compliance with Rule 10.04 of  the Listing Rules and a prior written
consent under paragraph 5(2)of Appendix F1 to the Listing Rules (the "Placing Guidelines").

Xinjin Shengwang is an existing shareholder of the Company. The  general partner of Xinjin Shengwang
is Sichuan Heshun Shengwang Enterprise Management Center (Limit ed Partnership) ( 四川和順昇望企
業管理中心（有限合夥 )）, which is ultimately controlled by Mr. Liu Yonghao. Yunhang Su pply is
ultimately controlled by Mr. Liu Yonghao, and therefore a close associate of Xinjin Shengwang. As of the
date of the Prospectus, Xinjin Shengwang held 3,787,880 Shares (assuming the completion of Share
Subdivision), representing approximately 0.2848% of the total i ssued Shares as of the date of the
Prospectus (assuming the completion of Share Subdivision).

Under the International Offering, Yunhang Supply has been place d with 13,273,000 Offer Shares at the
Offer Price, representing approximately 8.98% of the total number of Offer Shares initially available under
the Global Offering (assuming the Over-Allotment Option is not exercised) and approximately 0.90% of
the total issued Shares of the Company upon completion of the G lobal 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 Yunhang
Supply. The allocation of Offer Shares to Yunhang Supply is in compliance with all the conditions under
the waiver and consent granted by the Stock Exchange.


Placing with a prior consent under paragraph 5(1) of the Placing Guidelines.

GF Securities Asset Management (Guangdong) Co., Ltd. is a direc t wholly-owned subsidiary of GF
Securities and GF Securities (Hong Kong) Brokerage Limited, a d istributor, is an indirect wholly-owned
subsidiary of GF Securities. Therefore, each of GF Securities A sset Management (Guangdong) Co., Ltd.
and GF Securities (Hong Kong) Brokerage Limited is a member of the same group of companies.

Under the International Offering, GF Securities Asset Management (Guangdong) Co., Ltd. has been placed
with 671,000 Offer Shares at the Offer Price, representing appr oximately 0.45% of the total number of
Offer Shares initially available  under the Global Offering (ass uming the Over-Allotment Option is not
exercised) and approximately 0.045% 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
paragraph 5(1) of the Placing Guidelines to permit the Company to allocate such Offer Shares in the
International Offering to GF Securities Asset Management (Guangdong) Co., Ltd. The allocation of Offer
Shares to GF Securities Asset Management (Guangdong) Co., Ltd.  is in compliance with all the conditions
under the consent granted by the Stock Exchange.





DISCLAIMERS


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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 liabi lity 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 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 se curities in   the United States. The securities mentioned herein have not
been, and will not be, registered under the United St ates 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 (1) solely to qualified institutional buyers as defined in Rule
144A under the U.S. Securities Act pursuant to an ex emption 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 15 April 2024 issued by Sichuan Baicha Baidao Industrial
Co., Ltd. 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 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 – Hong
Kong Public Offering – Hong Kong Underwriting Agreement – Grounds for Termination ” in the
Prospectus at any time prior to 8:00 a.m. (Hong Kong time) on the Listing Date (which is currently
expected to be on 23 April 2024).


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3
PUBLIC FLOAT
Immediately following the completion of the Global Offering, (i) no less than 15.31% 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 in the waiver granted by
the Stock Exchange from strict 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 H Share certificates will only become valid evidence of title at 8:00 a.m. on Tuesday, April 23,
2024 (Hong Kong time), provided that the Global Offering has become unconditional and the right
of termination described in the paragraph headed “Underwriting Ñ  Underwriting Arrangements
and Expenses Ñ  Hong Kong Public Offering Ñ  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 share certificates or prior to 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. on Tuesday, April 23, 2024 (Hong Kong time), it
is expected that dealings in our H Shares on the Stock Exchange will commence at 9:00 a.m. on
Tuesday, April 23, 2024 (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 2555.
By order of the Board
Sichuan Baicha Baidao Industrial Co., Ltd.
Mr. WANG Xiaokun
Executive Director and Chairman of the Board
Chengdu, PRC, 22 April 2024
As at the date of this announcement, the directors and proposed directors of the Company are: (i)
Mr. Wang Xiaokun, Mr. Wang Hongxue, Ms. Dai Li and Mr. Chen Keyuan as executive directors;
(ii) Dr. Chen Da as non-executive director; and (iii) Mr. Yeung Chi Tat, Dr. Tang Yong and Ms.
Cheng Li as proposed independent non-executive directors.