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hk-ipo/data/extracted_text/02675/allotment_results_2026-01-07_2026010701900.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.
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 30, 2025 (the “Prospectus ”) of Shenzhen Edge Medical 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 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 or solicitation to purchase or subscribe for securities
in the United States or in 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 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 (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 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.
In connection with the Global Offering, Morgan Stanley Asia 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. 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.
The Hong Kong Offer Shares will be offered to the public in Hong Kong subject to term 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
Thursday, January 8, 2026).
--- page 2 ---
2
Shenzhen Edge Medical Co., Ltd.
ʮ̡
(A joint stock company established in the People s Republic of China with limited liability)
GLOBAL OFFERING
Number of Offer Shares under
the Global Offering
: 27,722,200 H Shares (subject to
the Over-allotment Option)
Number of Hong Kong Offer Shares : 2,772,300 H Shares
Number of International Offer Shares : 24,949,900 H Shares (subject to
the Over-allotment Option)
Offer Price : HK$43.24 per H Share, plus brokerage of
1.0%, AFRC transaction levy of
0.00015%, SFC transaction levy of
0.0027% and Stock Exchange trading fee
of 0.00565%
Nominal value : RMB1.00 per H Share
Stock code : 2675
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 Global Coordinator, Joint Bookrunner and Joint Lead Manager
--- page 3 ---
3
Shenzhen Edge Medical Co., Ltd.
ʮ̡
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 December 30, 2025 (the “Prospectus ”) issued
by Shenzhen Edge Medical Co., Ltd. (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 2675
Stock short name EDGE MEDICAL-B
Dealings commencement date January 8, 2026*
* see note at the end of the announcement
Price Information
Final Offer Price HK$43.24
Offer Price Adjustment exercised N/A
Offer Shares and Share Capital
Number of Offer Shares 27,722,200
Number of Offer Shares in Hong Kong Public Offering 2,772,300
Number of Offer Shares in International Offering 24,949,900
Number of issued Shares upon Listing 387,722,200
Over-allocation
No. of Offer Shares over-allocated 4,158,300
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.
--- page 4 ---
4
Proceeds
Gross proceeds (Note) HK$1,198.7 million
Less: Estimated listing expenses payable based on
Final Offer Price
HK$(82.1) million
Net proceeds HK$1,116.6 million
Note: Gross proceeds refers to the amount to which the Company is entitled to receive. For details of the use of
proceeds, please refer to the section headed “Future Plans and Use of Proceeds ” of the Prospectus. The
Company intends to apply the additional net proceeds from 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. During the Track Record Period, the Company incurred HK$20.2 million of listing expenses,
among which, HK$18.5 million was charged to the consolidated statements of profit or loss of the Company.
ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING
No. of valid applications 196,179
No. of successful applications 19,967
Subscription level 1,091.94 times
Claw-back triggered No
No. of Offer Shares initially available under the Hong
Kong Public Offering
2,772,300
% of Offer Shares under the Hong Kong Public
Offering to the Global Offering
10%
Final no. of Offer Shares under the Hong Kong Public
Offering (after over-allocation)
2,772,300
% of final no. of Offer Shares under the Hong Kong
Public Offering to the Global Offering (after over-
allocation)
8.70%
Note: For details of the final allocation of Shares to the Hong Kong Public Offering, investors can
refer to http://www.hkeipo.hk/IPOResult to perform a search by identification number or
http://www.tricor.com.hk/ipo/result for the full list of allottees.
--- page 5 ---
5
INTERNATIONAL OFFERING
No. of placees 175
Subscription Level 25.18 times
No. of Offer Shares initially available under the
International Offering
24,949,900
% of Offer Shares under the International Offering to
the Global Offering
90%
Final no. of Offer Shares under the International
Offering (after over-allocation)
29,108,200
% of final no. of Offer Shares under the International
Offering to the Global Offering (after over-allocation)
91.30%
The Directors confirm that, to the best of their knowledge, information and belief, save for consent
to permit the Company to, among other things, allocate Shares in the International Offering to
certain existing Shareholders and 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, 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 Note 1
No. of
Offer Shares
allocated
Approximate %
of Offer
Shares Note 2
Approximate %
of total issued
share capital
after the
Global
Offering Note 2
Existing
Shareholders or
their close
associates
Abu Dhabi Investment Authority 2,699,000 9.74% 0.70% No
UBS Asset Management
(Singapore) Ltd. Note 3 1,799,300 6.49% 0.46% No
OrbiMed Genesis Master Fund, L.P. Note 4 1,799,300 6.49% 0.46% Existing
Shareholder
Huang River Investment Limited 899,600 3.25% 0.23% No
LYFE Capital Fund IV (Dragon), L.P. Note 5 899,600 3.25% 0.23%
Close associate
of an existing
shareholder
--- page 6 ---
6
Investor Note 1
No. of
Offer Shares
allocated
Approximate %
of Offer
Shares Note 2
Approximate %
of total issued
share capital
after the
Global
Offering Note 2
Existing
Shareholders or
their close
associates
Poly Platinum Enterprises Limited Note 6 539,800 1.95% 0.14%
Close associate
of an existing
shareholder
Mega Prime Development Limited Note 6 359,800 1.30% 0.09%
Close associate
of an existing
shareholder
China Asset Management (Hong Kong)
Limited Note 7 899,600 3.25% 0.23% No
China Alpha Fund Management (HK) Ltd 899,600 3.25% 0.23% No
Tekful Limited 539,800 1.95% 0.14% No
Integrated Core Strategies (Asia) Pte. Ltd. 539,800 1.95% 0.14% No
Sage Partners Master Fund Note 8 539,800 1.95% 0.14%
Close associate
of an existing
shareholder
Panjing Harbourview Investment Fund 539,800 1.95% 0.14% No
Infini Global Master Fund 539,800 1.95% 0.14% No
Total 13,494,600 48.68% 3.48%
Note:
1. For further details of the Cornerstone Investors, please refer to the section headed “Cornerstone Investors ” in
the Prospectus.
2. Before any exercise of the Over-allotment Option.
3. UBS Asset Management (Singapore) Ltd. ( “UBS AM Singapore ”) is a connected client of UBS AG
Singapore Branch ( “UBS AG Singapore ”). For details of consent under paragraph 1C(1) of Appendix F1 of
the Listing Rules (the “Placing Guidelines ”) in relation to allocations to connected clients as Cornerstone
Investors, please refer to the section headed “Allotment Results Details International Offering Allottees
with Waivers/Consents Obtained ” in this announcement.
4. OrbiMed Genesis Master Fund, L.P. ( “OrbiMed Genesis ”) and its close associate, OrbiMed New Horizons
Master Fund, L.P., are existing Shareholders of our Company, holding in aggregate approximately 0.33% of
the equity interest in the Company immediately prior to the Global Offering. For details of consent under
Rule 10.04 and paragraph 1C(2) of the Placing Guidelines for allocation of Offer Shares to a close associate
of an existing shareholder as Cornerstone Investor, please refer to the section headed “Allotment Results
Details International Offering Allottees with Waivers/Consents Obtained ” in this announcement.
--- page 7 ---
7
Investor Note 1
No. of
Offer Shares
allocated
Approximate %
of Offer
Shares Note 2
Approximate %
of total issued
share capital
after the
Global
Offering Note 2
Existing
Shareholders or
their close
associates
5. LYFE Capital Fund IV (Dragon), L.P. is a close associate of Guadalupe Peak Limited, which in turn holds
approximately 5.27% equity interest in the Company immediately prior to the Global Offering. For details of
consent under paragraph 1C(2) of the Placing Guidelines for allocation of Offer Shares to a close associate of
an existing shareholder as Cornerstone Investor, please refer to the section headed “Allotment Results Details
International Offering Allottees with Waivers/Consents Obtained ” in this announcement.
6. Mega Prime Development Limited and Poly Platinum Enterprises Limited are close associates of GBA Fund
Investment Limited ( “GBA Fund ”), with GBA Fund holding approximately 0.33% of the equity interest
in the Company immediately prior to the Global Offering. For details of consent under paragraph 1C(2)
of the Placing Guidelines for allocation of Offer Shares to a close associate of an existing shareholder as
Cornerstone Investor, please refer to the section headed “Allotment Results Details International Offering
Allottees with Waivers/Consents Obtained ” in this announcement.
7. China Asset Management (Hong Kong) Limited ( “ChinaAMC (HK) ”) is a connected client of CLSA
Limited. For details of consent under paragraph 1C(1) of the Placing Guidelines in relation to allocations to
connected clients as Cornerstone Investors, please refer to the section headed “Allotment Results Details
International Offering Allottees with Waivers/Consents Obtained ” in this announcement.
8. Sage Partners Master Fund is a close associate of Sage Partners Alpha 1 L.P. ( “Sage Partners ”) with Sage
Partners holding approximately 0.20% of the equity interest in the Company immediately prior to the Global
Offering. For details of consent under paragraph 1C(2) of the Placing Guidelines for allocation Offer Shares
to a close associate of an existing shareholder as Cornerstone Investor, please refer to the section headed
“Allotment Results Details International Offering Allottees with Waivers/Consents Obtained ” in this
announcement.
Allottees with Waivers/Consents Obtained
Investor
No. of
Offer Shares
allocated
Approximate %
of Offer
Shares Note 1
Approximate % of
total issued
share capital after
the Global
Offering Note 1 Relationship
Allottees with consent under Rule 10.04 of the Listing Rules and/or Paragraph 1C(2) of the Placing Guidelines Allocation of
Offer Shares to an existing shareholder and/or close associates of existing shareholders Note 2
OrbiMed Genesis 1,799,300 6.49% 0.46%
A Cornerstone
Investor, an existing
shareholder and a
close associate of an
existing shareholder
LYFE Capital Fund IV (Dragon), L.P. 899,600 3.25% 0.23%
A Cornerstone
Investor and a close
associate of an
existing shareholder
Poly Platinum Enterprises Limited 539,800 1.95% 0.14%
A Cornerstone
Investor and a close
associate of an
existing shareholder
--- page 8 ---
8
Investor
No. of
Offer Shares
allocated
Approximate %
of Offer
Shares Note 1
Approximate % of
total issued
share capital after
the Global
Offering Note 1 Relationship
Mega Prime Development Limited 359,800 1.30% 0.09%
A Cornerstone
Investor and a close
associate of an
existing shareholder
Sage Partners Master Fund 539,800 1.95% 0.14%
A Cornerstone
Investor and a close
associate of an
existing shareholder
3H Health Investment Fund II, L.P. 540,000 1.95% 0.14%
A placee and a close
associate of existing
shareholders
Dragon Warrior Investments Limited 90,000 0.32% 0.02%
A placee and a close
associate of existing
shareholders
GF Securities Asset Management
(Guangdong) Co., Ltd. ( “GF Securities
AM”)
1,800 0.01% 0.00%
A placee, a
connected client of
GF Securities (Hong
Kong) Brokerage
Limited ( “GF
Securities (Hong
Kong) Brokerage ”)
and a close associate
of an existing
shareholder
GF International Investment Management
Limited ( “GF International ”), 1,800 0.01% 0.00%
A placee, a
connected client of
GF Securities (Hong
Kong) Brokerage
and a close associate
of an existing
shareholder
E Fund Management Co., Ltd. ( “E Fund ”) 98,800 0.36% 0.03%
A placee, a
connected client of
GF Securities (Hong
Kong) Brokerage
and a close associate
of an existing
shareholder
--- page 9 ---
9
Investor
No. of
Offer Shares
allocated
Approximate %
of Offer
Shares Note 1
Approximate % of
total issued
share capital after
the Global
Offering Note 1 Relationship
E Fund Management (Hong Kong) Co., Ltd.
(“E Fund Hong Kong ”) 9,200 0.03% 0.00%
A placee, a
connected client of
GF Securities (Hong
Kong) Brokerage
and a close associate
of an existing
shareholder
Value Partners Hong Kong Limited ( “Value
Partners ”) 5,000 0.02% 0.00%
A placee, a
connected client of
GF Securities (Hong
Kong) Brokerage
and a close associate
of an existing
shareholder
Taibai Investments Pte. Ltd. 900,000 3.25% 0.23%
A placee and a close
associate of existing
shareholders
Mirae Asset Securities Co., Ltd. 3,500 0.01% 0.00%
A placee and a
close associate of an
existing shareholder
Mirae Asset Securities (HK) Limited 90,000 0.32% 0.02%
A placee and a
close associate of an
existing shareholder
CICC Financial Trading Limited 6,500 0.02% 0.00%
A placee, a
connected client of
China International
Capital Corporation
Hong Kong
Securities Limited
(“CICCHKS ”) and
a close associate
of an existing
shareholder
Note:
1. Before any exercise of the Over-allotment Option.
2. For details of the consent under Rule 10.04 of the Listing Rules and paragraph 1C(2) of the Placing
Guidelines granted by the Stock Exchange to permit the Company to allocate certain Offer Shares in the
International Offering to existing shareholders and/or close associates of existing Shareholders, please refer
to the section headed “Waivers and Exemption ” in the Prospectus and the section headed “Others/Additional
Information ” in this announcement.
--- page 10 ---
10
Investor
No. of
Offer Shares
allocated
Approximate %
of Offer
Shares Note 1
Approximate % of
total issued
share capital after
the Global
Offering Note 1 Relationship
Allottees with consent under paragraph 1C(1) of the Placing Guidelines in relation to allocations to connected clients Note 2
ChinaAMC (HK) 899,600 3.25% 0.23%
A Cornerstone Investor
and a connected client
of CLSA Limited
(“CLSA”)
GF International Investment Management Limited
( “GF International ”) 1,800 0.01% 0.00%
A placee, a connected
client of GF Securities
(Hong Kong)
Brokerage and a close
associate of an existing
shareholder
GF Securities Asset Management (Guangdong)
Co., Ltd. ( “GF Securities AM ”) 1,800 0.01% 0.00%
A placee, a connected
client of GF Securities
(Hong Kong)
Brokerage and a close
associate of an existing
shareholder
--- page 11 ---
11
Investor
No. of
Offer Shares
allocated
Approximate %
of Offer
Shares Note 1
Approximate % of
total issued
share capital after
the Global
Offering Note 1 Relationship
E Fund Management Co., Ltd. ( “E Fund ”) 98,800 0.36% 0.03%
A placee, a connected
client of GF Securities
(Hong Kong)
Brokerage and a close
associate of an existing
shareholder
E Fund Management (Hong Kong) Limited
( “E Fund Hong Kong ”) 9,200 0.03% 0.00%
A placee, a connected
client of GF Securities
(Hong Kong)
Brokerage and a close
associate of an existing
shareholder
Value Partners Hong Kong Limited
( “Value Partners ”) 5,000 0.02% 0.00%
A placee, a connected
client of GF Securities
(Hong Kong)
Brokerage and a close
associate of an existing
shareholder
UBS Asset Management (Singapore) Ltd.
( “UBS AM Singapore ”) 1,799,300 6.49% 0.46%
A placee and a
connected client of
UBS AG Singapore
Branch ( “UBS AG
Singapore ”)
ICBC UBS Asset Management Co., Ltd.
( “ICBC UBS ”) 125,000 0.45% 0.03%
A placee and a
connected client of
UBS AG Singapore
CICC Financial Trading Limited
( “CICC FT ”) 6,500 0.02% 0.00%
A placee, a connected
client of CICCHKS and
a close associate of an
existing shareholder
CITIC Securities International Capital
Management Limited ( “CSICM ”) 741,400 2.67% 0.19%
A placee and a
connected client of
CLSA
Note:
1. Before any exercise of the Over-allotment Option.
2. For details of the consent under paragraph 1C(1) of the Placing Guidelines in relation to allocations to
connected clients, please refer to the section headed “Waivers and Exemption ” in the Prospectus and the
section headed “Others/Additional Information ” in this announcement.
--- page 12 ---
12
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 Note 1
Last day subject
to the lock-up
undertakings
Dr. Wang Note 2 31,368,798 Unlisted Shares
73,193,861 H Shares 26.97% January 8, 2027 Note 3
Dr. Gao Note 2 15,500,065 Unlisted Shares
36,166,819 H Shares 13.33% January 8, 2027 Note 3
Xieli Chuangfeng Note 2 10,708,126 H Shares 2.76% January 8, 2027 Note 3
Subtotal 166,937,669 43.06%
Notes:
(1) Before any exercise of the Over-allotment Option.
(2) Dr. Wang is the sole general partner of Xieli Chuangfeng. By virtue of their spousal relationship, Dr. Wang
and Dr. Gao, together with Xieli Chuangfeng (an entity controlled by Dr. Wang) form a group of Controlling
Shareholders of our Company upon Listing.
(3) The expiry day of the lock-up period shown in the table above is pursuant to the PRC Company Law. In
accordance with the relevant Listing Rule and guidance materials, the required lock-up for the First Six-
Month Period ends on July 8, 2026 and the Second Six-Month Period ends on January 8, 2027.
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 Note 1
Last day subject
to the lock-up
undertakings
Chengdu Mingsheng 17,504,640 H Shares 4.51% January 8, 2027 Note 2
Zhongheng Huijin 16,359,120 H Shares 4.22% January 8, 2027 Note 2
Suzhou Junlian 701,778 Unlisted Shares
11,787,990 H Shares 3.22% January 8, 2027 Note 2
Sanzheng Zhengyun 11,691,424 H Shares 3.02% January 8, 2027 Note 2
Social Security Fund 272,913 Unlisted Shares
4,584,216 H Shares 1.25% January 8, 2027 Note 2
--- page 13 ---
13
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 Note 1
Last day subject
to the lock-up
undertakings
Shenzhen Zhihui 4,473,922 H Shares 1.15% January 8, 2027 Note 2
Khorgos Lianpan 4,892,760 H Shares 1.26% January 8, 2027 Note 2
Beijing Xinghao 4,892,760 H Shares 1.26% January 8, 2027 Note 2
HongShan Growth 1,290,060 Unlisted Shares
3,010,140 H Shares 1.11% January 8, 2027 Note 2
Taijiashan Healthcare Fund 1,318,189 Unlisted Shares
3,075,775 H Shares 1.13% January 8, 2027 Note 2
Shenzhen Hanchen 1,318,189 Unlisted Shares
3,075,775 H Shares 1.13% January 8, 2027 Note 2
Guoce Green Technology 3,998,261 H Shares 1.03% January 8, 2027 Note 2
Guoce Technology Manufacturing 2,817,275 H Shares 0.73% January 8, 2027 Note 2
Jiaxing Siqi 333,586 H Shares 0.09% January 8, 2027 Note 2
Jiaxing Yusheng 168,360 H Shares 0.04% January 8, 2027 Note 2
Lingang Lanwan Fund I 2,388,960 H Shares 0.62% January 8, 2027 Note 2
China State-owned Enterprise Mixed
Ownership Reform Fund 1,911,240 H Shares 0.49% January 8, 2027 Note 2
Vertex Investment 441,270 Unlisted Shares
1,323,810 H Shares 0.46% January 8, 2027 Note 2
Beijing Yahui Jinlin 1,715,040 H Shares 0.44% January 8, 2027 Note 2
Yu Anding (֛1,476,720 H Shares 0.38% January 8, 2027 Note 2
Hainan Yuanfeng 1,466,280 H Shares 0.38% January 8, 2027 Note 2
Hangzhou Kangyin 1,466,280 H Shares 0.38% January 8, 2027 Note 2
CICC Pucheng 1,466,280 H Shares 0.38% January 8, 2027 Note 2
Chengdu Boyuan Jiayu 1,466,280 H Shares 0.38% January 8, 2027 Note 2
Wuxi FirstLight 1,194,480 H Shares 0.31% January 8, 2027 Note 2
Guangyuan Zhonghe 1,168,560 H Shares 0.30% January 8, 2027 Note 2
Jiaxing Suizi 944,216 H Shares 0.24% January 8, 2027 Note 2
Fan Xiaolin (ወᎌ) 716,760 H Shares 0.18% January 8, 2027 Note 2
--- page 14 ---
14
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 Note 1
Last day subject
to the lock-up
undertakings
Qingdao Yizhou 716,760 H Shares 0.18% January 8, 2027 Note 2
Hangzhou Xiangshu 477,720 H Shares 0.12% January 8, 2027 Note 2
Guangzhou Jinyuan 422,071 H Shares 0.11% January 8, 2027 Note 2
Jiang Hao (؀۴372,960 H Shares 0.10% January 8, 2027 Note 2
Guadalupe Peak Limited
4,741,110 Unlisted
Shares
14,223,330 H Shares
4.89% January 8, 2027 Note 2
Intelligent Spark
4,300,128 Unlisted
Shares
10,033,632 H Shares
3.70% January 8, 2027 Note 2
Spark Plug 2,388,960 H Shares 0.62% January 8, 2027 Note 2
Robust Edge Investments 10,563,551 H Shares 2.72% January 8, 2027 Note 2
Centroid Investments 8,386,920 H Shares 2.16% January 8, 2027 Note 2
Springleaf Investments
2,293,380 Unlisted
Shares
5,351,220 H Shares
1.97% January 8, 2027 Note 2
True Light 573,372 Unlisted Shares
1,337,868 H Shares 0.49% January 8, 2027 Note 2
Kangji Medical 5,865,840 H Shares 1.51% January 8, 2027 Note 2
GBA Fund 1,194,480 H Shares 0.31% January 8, 2027 Note 2
Sage Partners 716,760 H Shares 0.18% January 8, 2027 Note 2
Octagon Investments 716,760 H Shares 0.18% January 8, 2027 Note 2
OrbiMed Genesis 597,240 H Shares 0.15% January 8, 2027 Note 2
OrbiMed New Horizons 597,240 H Shares 0.15% January 8, 2027 Note 2
Mirae Asset Global Investments 477,720 H Shares 0.12% January 8, 2027 Note 2
Subtotal 193,062,331 49.79%
Notes:
(1) Before any exercise of the Over-allotment Option.
(2) The expiry day of the lock-up period shown in the table above is pursuant to the PRC Company Law.
--- page 15 ---
15
Cornerstone Investors
Name
Number of H Shares
held in the Company
subject to lock-up
undertakings upon
Listing
% of shareholding
in the Company
subject to lock-up
undertakings
upon Listing Note 1
Last day subject
to the lock-up
undertakings
Abu Dhabi Investment Authority 2,699,000 0.70% July 8, 2026 Note 2
UBS Asset Management (Singapore) Ltd. 1,799,300 0.46% July 8, 2026 Note 2
OrbiMed Genesis Master Fund, L.P. 1,799,300 0.46% July 8, 2026 Note 2
Huang River Investment Limited 899,600 0.23% July 8, 2026 Note 2
China Asset Management (Hong Kong) Limited 899,600 0.23% July 8, 2026 Note 2
LYFE Capital Fund IV (Dragon), L.P. 899,600 0.23% July 8, 2026 Note 2
Poly Platinum Enterprises Limited 539,800 0.14% July 8, 2026 Note 2
Mega Prime Development Limited 359,800 0.09% July 8, 2026 Note 2
China Alpha Fund Management (HK) Ltd 899,600 0.23% July 8, 2026 Note 2
Tekful Limited 539,800 0.14% July 8, 2026 Note 2
Integrated Core Strategies (Asia) Pte. Ltd. 539,800 0.14% July 8, 2026 Note 2
Sage Partners Master Fund 539,800 0.14% July 8, 2026 Note 2
Panjing Harbourview Investment Fund 539,800 0.14% July 8, 2026 Note 2
Infini Global Master Fund 539,800 0.14% July 8, 2026 Note 2
Total 13,494,600 3.48%
Notes:
(1) Before any exercise of the Over-allotment Option.
(2) The expiry day of the lock-up period shown in the table above is pursuant to the relevant Cornerstone
Investment Agreements.
--- page 16 ---
16
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
Shares held
upon Listing
Number of
Shares held
upon Listing as
% of total issued
share capital upon
Listing
(assuming no
exercise of the
Over-allotment
Option)
Number of
Shares held
upon Listing as %
of total issued
share capital
upon Listing
(assuming the
Over-allotment
Option is fully
exercised and new
H Shares are
issued)
Top 1 2,699,000 10.8% 9.3% 9.7% 8.5% 2,699,000 0.7% 0.7%
Top 5 8,963,600 35.9% 30.8% 32.3% 28.1% 10,158,080 2.6% 2.6%
Top 10 13,462,400 54.0% 46.2% 48.6% 42.2% 44,371,640 11.4% 11.3%
Top 25 22,392,700 89.8% 76.9% 80.8% 70.2% 83,943,835 21.7% 21.4%
Note:
* Ranking of placees is based on the number of Shares allotted to the placees.
--- page 17 ---
17
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 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
H Shares held
upon Listing as
% of total issued
H share capital
upon Listing
(assuming no
exercise of the
Over-allotment
Option)
Number of
H Shares held
upon Listing as
% of total
issued H 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% 0.0% 0.0% 0.0% 120,068,806 37.1% 36.6% 166,937,669
Top 5 746,600 3.0% 2.6% 2.7% 2.3% 202,861,827 62.7% 61.9% 250,705,381
Top 10 2,546,200 10.2% 8.7% 9.2% 8.0% 254,490,247 78.6% 77.6% 318,168,229
Top 25 11,515,900 46.2% 39.6% 41.5% 36.1% 299,316,631 92.5% 91.3% 362,994,613
Note:
* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholder upon Listing.
--- page 18 ---
18
SHAREHOLDER CONCENTRATION ANALYSIS
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 as %
of total issued
share capital
upon Listing
(assuming no
exercise of the
Over-allotment
Option)
Number of
Shares held upon
Listing as %
of total issued
share capital
upon Listing
(assuming the
Over-allotment
Option is fully
exercised and
new Shares
are issued)
Top 1 0.0% 0.0% 0.0% 0.0% 166,937,669 43.1% 42.6%
Top 5 1,646,200 6.6% 5.7% 5.9% 5.2% 253,222,524 65.3% 64.6%
Top 10 2,546,200 10.2% 8.7% 9.2% 8.0% 318,168,229 82.1% 81.2%
Top 25 11,515,900 46.2% 39.6% 41.5% 36.1% 363,293,413 93.7% 92.7%
Note:
* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.
--- page 19 ---
19
BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the Prospectus, 19,967 valid applications
made by the public will be conditionally allocated on the basis set out below:
Number of
H Shares
applied for
Number of
valid applications
Basis of
allocation/ballot
Approximate %
allotted of the total
no. of H Shares
applied for
POOL A
100 91,082 456 out of 91,082 applicants to
receive 100 H Shares
0.50%
200 28,073 242 out of 28,073 applicants to
receive 100 H Shares
0.43%
300 3,955 47 out of 3,955 applicants to
receive 100 H Shares
0.40%
400 1,934 29 out of 1,934 applicants to
receive 100 H Shares
0.37%
500 2,746 49 out of 2,746 applicants to
receive 100 H Shares
0.36%
600 1,206 25 out of 1,206 applicants to
receive 100 H Shares
0.35%
700 957 22 out of 957 applicants to receive
100 H Shares
0.33%
800 1,046 27 out of 1,046 applicants to
receive 100 H Shares
0.32%
900 771 22 out of 771 applicants to receive
100 H Shares
0.32%
1,000 17,714 532 out of 17,714 applicants to
receive 100 H Shares
0.30%
1,500 2,607 108 out of 2,607 applicants to
receive 100 H Shares
0.28%
2,000 4,622 238 out of 4,622 applicants to
receive 100 H Shares
0.26%
2,500 2,431 149 out of 2,431 applicants to
receive 100 H Shares
0.25%
3,000 1,627 115 out of 1,627 applicants to
receive 100 H Shares
0.24%
3,500 894 72 out of 894 applicants to receive
100 H Shares
0.23%
4,000 1,004 89 out of 1,004 applicants to
receive 100 H Shares
0.22%
4,500 811 79 out of 811 applicants to receive
100 H Shares
0.22%
5,000 1,853 195 out of 1,853 applicants to
receive 100 H Shares
0.21%
6,000 1,167 142 out of 1,167 applicants to
receive 100 H Shares
0.20%
7,000 947 130 out of 947 applicants to
receive 100 H Shares
0.20%
--- page 20 ---
20
Number of
H Shares
applied for
Number of
valid applications
Basis of
allocation/ballot
Approximate %
allotted of the total
no. of H Shares
applied for
POOL A
8,000 872 132 out of 872 applicants to
receive 100 H Shares
0.19%
9,000 686 114 out of 686 applicants to
receive 100 H Shares
0.18%
10,000 5,686 1,024 out of 5,686 applicants to
receive 100 H Shares
0.18%
20,000 3,901 1,205 out of 3,901 applicants to
receive 100 H Shares
0.15%
30,000 2,405 1,019 out of 2,405 applicants to
receive 100 H Shares
0.14%
40,000 1,268 672 out of 1,268 applicants to
receive 100 H Shares
0.13%
50,000 1,324 835 out of 1,324 applicants to
receive 100 H Shares
0.13%
60,000 797 579 out of 797 applicants to
receive 100 H Shares
0.12%
70,000 686 562 out of 686 applicants to
receive 100 H Shares
0.12%
80,000 557 507 out of 557 applicants to
receive 100 H Shares
0.11%
90,000 455 100 H Shares 0.11%
100,000 3,693 100 H Shares plus 297 out of
3,693 applicants to receive an
additional 100 H Shares
0.11%
Total 189,777 Total number of Pool A successful applicants: 13,565
--- page 21 ---
21
Number of
H Shares
applied for
Number of
valid applications
Basis of
allocation/ballot
Approximate %
allotted of the total
no. of H Shares
applied for
POOL B
200,000 4,438 100 H Shares plus 3,551 out of
4,438 applicants to receive an
additional 100 H Shares
0.09%
300,000 769 200 H Shares plus 165 out of
769 applicants to receive an
additional 100 H Shares
0.07%
400,000 315 200 H Shares plus 178 out of
315 applicants to receive an
additional 100 H Shares
0.06%
500,000 209 200 H Shares plus 183 out of
209 applicants to receive an
additional 100 H Shares
0.06%
600,000 113 300 H Shares 0.05%
700,000 85 300 H Shares plus 26 out of
85 applicants to receive an
additional 100 H Shares
0.05%
800,000 66 300 H Shares plus 45 out of
66 applicants to receive an
additional 100 H Shares
0.05%
900,000 30 300 H Shares plus 25 out of
30 applicants to receive an
additional 100 H Shares
0.04%
1,000,000 92 400 H Shares 0.04%
1,386,100 285 400 H Shares plus 274 out of
285 applicants to receive an
additional 100 H Shares
0.04%
Total 6,402 Total number of Pool B successful applicants: 6,402
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, 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.
--- page 22 ---
22
OTHER INFORMATION
Consent under Rule 10.04 and/or paragraph 1C(2) of the Placing Guidelines Allocation of
Offer Shares to an existing shareholder and/or close associates of existing shareholders as
cornerstone investors
The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to
the Company, consent under Rule 10.04 of the Listing Rules Paragraph 1C(2) of the Placing
Guidelines for the allocation of Offer Shares to (i) OrbiMed Genesis, (ii) Mega Prime Development
Limited and Poly Platinum Enterprises Limited, (iii) LYFE Capital Fund IV (Dragon), L.P. and (iv)
Sage Partners Master Fund as Cornerstone Investors under the Global Offering. Please refer to the
section headed “Waivers and Exemption Waiver and consent under Rule 10.04 and Paragraph
1C(2) of Appendix F1 to the Listing Rules in respect of subscriptions of Offer Shares by existing
shareholder and close associates of existing shareholder as cornerstone investors ” in the Prospectus
for details.
Consent under paragraph 1C(2) of the Placing Guidelines Allocation of Offer Shares to
close associates of existing shareholders as placees
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 associates of existing shareholders as placees
(together, the “Close Associates of Existing Shareholders as Placees ”). Each of 3H Health
Investment Fund II, L.P. and Dragon Warrior Investments Limited is a close associate of Robust
Edge Investments Limited and Centroid Investments Limited. Each of GF Securities AM, GF
International, E Fund, E Fund Hong Kong and Value Partners is a close associate of Guangfa
Xinde Zhongheng Huijin (Longyan) Equity Investment Partnership (Limited Partnership) ( ᄿ
ږ( ֧)ᛆҳ༟ΥྫΆุ (Υྫ )). Taibai Investments Pte. Ltd. is a close
associate of Springleaf Investments Pte. Ltd. and True Light Investments P Pte. Ltd.. Each of
Mirae Asset Securities Co., Ltd. and Mirae Asset Securities (HK) Limited is a close associate of
Mirae Asset Global Investments (Hong Kong) Limited. CICC FT is a close associate of CICC
Pucheng Investment Co., Ltd. (ʮ̡ ). The allocation of Offer Shares to the
Close Associates of Existing Shareholders as Placees is in compliance with all the conditions under
the consent granted by the Stock Exchange, including but not limited to (i) the Company complies
with Rules 19A.13A and 19A.13C of the Listing Rules, and (ii) no preference in allocation was
given to the Close Associates of Existing Shareholders as Placees.
For details of the allocations of Offer Shares to close associates of existing Shareholders, please
refer to the section headed “Allotment Results Details { International Offering { Allotees with
Waivers/Consents Obtained ” in this announcement.
Placing to connected clients with prior consents 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(1) of the Placing Guidelines to permit allocation to connected clients
pursuant to the Placing Guidelines. The allocation of Offer Shares to such connected clients is in
compliance with all the conditions under the consents granted by the Stock Exchange. Details of
the placement to connected clients in placing tranche are set out below.
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 ChinaAMC (HK) to participate
in the Global Offering as a Cornerstone Investor and connected client holding the Offer Shares
on a discretionary basis. Please refer to the section headed “Waivers and Exemption Consent in
respect of the proposed subscription of Offer Shares by Connected Client ” in the Prospectus for
details.
--- page 23 ---
23
In addition, 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. Details
of the placement to the connected clients are set out below.No.
Name of connected
client
Name of connected
distributor
Relationship with the connected distributor
Basis of holding
securities
Number of Offer Shares subscribed
Approximate percentage of the Offer Shares subscribed (assuming the Over-allotment
Option is not exercised)
Approximate
percentage of total issued share capital after the Global
Offering (assuming no exercise of the Over-allotment Option)
1. GF International (1)
(as placee)
GF Securities (Hong Kong)
Brokerage, one of the
Overall Coordinators
GF International is a
member of the same
group of companies as GF
Securities (Hong Kong)
Brokerage.
Discretionary 1,800 0.01% 0.00%
2. GF Securities AM (2)
(as placee)
GF Securities (Hong Kong)
Brokerage, one of the
Overall Coordinators
GF Securities AM is
a member of the same
group of companies as GF
Securities (Hong Kong)
Brokerage.
Non-discretionary 1,800 0.01% 0.00%
3. E Fund (3) (as placee) GF Securities (Hong Kong)
Brokerage, one of the
Overall Coordinators
E Fund is a member of the
same group of companies as
GF Securities (Hong Kong)
Brokerage.
Discretionary 98,800 0.36% 0.03%
4. E Fund Hong
Kong(4) (as placee)
GF Securities (Hong Kong)
Brokerage, one of the
Overall Coordinators
E Fund Hong Kong is
a member of the same
group of companies as GF
Securities (Hong Kong)
Brokerage.
Discretionary 9,200 0.03% 0.00%
5. Value Partners (5) (as
placee)
GF Securities (Hong Kong)
Brokerage, one of the
Overall Coordinators
Value Partners is a member
of the same group of
companies as GF Securities
(Hong Kong) Brokerage.
Discretionary 5,000 0.02% 0.00%
--- page 24 ---
24
No.
Name of connected
client
Name of connected
distributor
Relationship with the connected distributor
Basis of holding
securities
Number of Offer Shares subscribed
Approximate percentage of the Offer Shares subscribed (assuming the Over-allotment
Option is not exercised)
Approximate
percentage of total issued share capital after the Global
Offering (assuming no exercise of the Over-allotment Option)
6. UBS AM
Singapore (6)
(as cornerstone
investor)
UBS AG Singapore, one
of the distributors of the
Global Offering
UBS AM Singapore is a
member of the same group
of companies as UBS AG
Singapore.
Discretionary 1,799,300 6.49% 0.46%
7. ICBC UBS (7) (as
placee)
UBS AG Singapore, one
of the distributors of the
Global Offering
ICBC UBS is a member
of the same group of
companies as UBS AG
Singapore.
Discretionary 125,000 0.45% 0.03%
8. CICC FT (8) (as
placee)
CICCHKS, one of the
Overall Coordinators
CICC FT is a member of the
same group of companies as
CICCHKS.
Non-discretionary 6,500 0.02% 0.00%
9. CSICM(9) (as
placee)
CLSA, one of the Overall
Coordinators
CSICM is a member of the
same group of companies as
CLSA.
Non-discretionary 741,400
Shenzhen Commando:
36,000
Beevest:
700,000
Perseverance AM:
5,400
2.67%
Shenzhen Commando:
0.13%
Beevest:
2.53%
Perseverance AM:
0.02%
0.19%
Shenzhen Commando:
0.01%
Beevest:
0.18%
Perseverance AM:
0.00%
Notes:
(1) GF International will hold the Offer Shares in its capacity as the discretionary fund manager on behalf of their underlying clients (the “GF International
Ultimate Clients ”), each of which is an independent third party. Save for Ku Sen ( ᚥો), none of the GF International Ultimate Clients holds 30% or more
ultimate beneficial interest in the relevant funds. GF International has confirmed that, to the best of their knowledge, each of the GF International Ultimate
Clients is an independent party of GF International, GF Securities (Hong Kong) Brokerage and the companies which are members of the same group of companies
as GF Securities (Hong Kong) Brokerage.
(2) GF Securities AM is an asset manager that is a QDII as approved by the relevant authority and will hold the Offer Shares as product manager on behalf of GF
Asset Management Excellent Diversified Allocation No. 10 (QDII) Single Asset Management Plan ( ᄿ೯༟၍ՙ൳εʩৣໄ 10 ໮ (QDII)ྌ ),
with the ultimate client being Feng Tianhong (ߎ࠺the “GF Securities AM Ultimate Client ”). GF Securities AM has confirmed that, to the best of their
knowledge, the GF Securities AM Ultimate Client is an independent party of GF Securities AM, GF Securities (Hong Kong) Brokerage and the companies which
are members of the same group of companies as GF Securities (Hong Kong) Brokerage.
--- page 25 ---
25
(3) E Fund will hold the Offer Shares in its capacity as the discretionary fund manager on behalf of their underlying
clients (the “E Fund Ultimate Clients ”), each of which is an independent third party. None of the E Fund
Ultimate Clients holds more than 30% ultimate beneficial interest in the relevant funds. E Fund has confirmed
that, to the best of their knowledge, each of the E Fund Ultimate Clients is an independent party of E Fund, GF
Securities (Hong Kong) Brokerage and the companies which are members of the same group of companies as
GF Securities (Hong Kong) Brokerage.
(4) E Fund Hong Kong will hold the Offer Shares in its capacity as the discretionary fund manager on behalf of
their underlying clients (the “E Fund Hong Kong Ultimate Clients ”), each of which is an independent third
party. None of the E Fund Hong Kong Ultimate Clients holds more than 30% ultimate beneficial interest in the
relevant funds. E Fund Hong Kong has confirmed that, to the best of their knowledge, each of the E Fund Hong
Kong Ultimate Clients is an independent party of E Fund Hong Kong, GF Securities (Hong Kong) Brokerage
and the companies which are members of the same group of companies as GF Securities (Hong Kong)
Brokerage.
(5) Value Partners will hold the Offer Shares in its capacity as the discretionary fund manager managing the
SFC-authorized funds on behalf of their underlying clients (the “Value Partners Ultimate Clients ”), each of
which is an independent third party. The ultimate beneficial owners holding 30% or more interest in the SFC-
authorized collective authorized schemes are set out below:
(i) AIA International Limited
(ii) Bank of China (Hong Kong) Nominees Limited
(iii) The Master Trust Bank of Japan Limited.
Value Partners has confirmed that, to the best of their knowledge, each of the Value Partners Ultimate Clients
is an independent party of Value Partners, GF Securities (Hong Kong) Brokerage and the companies which are
members of the same group of companies as GF Securities (Hong Kong) Brokerage.
(6) UBS AM Singapore will hold the Offer Shares in its capacity as the discretionary fund manager managing
the funds on behalf of their investors (the “UBS AM Singapore Ultimate Clients ”), each of which is an
independent third party. None of the UBS AM Singapore Ultimate Clients holds more than 30% ultimate
beneficial interest in the relevant funds. UBS AM Singapore has confirmed that, to the best of their knowledge,
each of the UBS AM Singapore Ultimate Clients is an independent party of UBS AM Singapore, UBS AG
Singapore and the companies which are members of the same group of companies as UBS AG.
(7) ICBC UBS will hold the Offer Shares in its capacity as the discretionary fund manager managing the funds
on behalf of their investors (the “ICBC UBS Ultimate Clients ”), each of which is an independent third party.
None of the ICBC UBS Ultimate Clients holds more than 30% ultimate beneficial interest in the relevant funds.
ICBC UBS has confirmed that, to the best of their knowledge, each of the ICBC UBS Ultimate Clients is an
independent party of ICBC UBS, UBS AG Singapore and the companies which are members of the same group
of companies as UBS AG.
--- page 26 ---
26
(8) CICC FT and China International Capital Corporation Limited will enter into a series of cross border delta-one
OTC swap transactions (collectively, the “CICC OTC Swaps ”) with each other and the ultimate client (the
“CICC FT Ultimate Client ”), pursuant to which CICC FT will hold the Offer Shares on a non-discretionary
basis to hedge the CICC 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 CICC OTC Swaps
will be fully funded by the CICC FT Ultimate Client. During the terms of the CICC OTC Swaps, all economic
returns of the Offer Shares subscribed by CICC FT will be passed to the CICC FT Ultimate Client and all
economic loss shall be borne by the CICC FT Ultimate Client through the CICC OTC Swaps, and CICC FT
will not take part in any economic return or bear any economic loss in relation to the Offer Shares. 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 CICC OTC Swaps according to its internal policy. The
CICC FT Ultimate Client is Shanghai Baoyin Private Equity Fund Management Co., Ltd. (ږ
ʮ̡ ) ( “Pinpoint Fund ”), which in turn manages the funds Baoyin Duokong Wenjian No. 1 Private
Equity Investment Fund (ᖢ਄ 1ږ“( ) Duokong Wenjian No. 1 ”), Baoyin Duokong
Wenjian No. 2 Private Equity Investment Fund (ᖢ਄ 2ږDuokong Wenjian
No. 2 ”) and Baoyin Jinqu No. 1 Private Equity Investment Fund (ვආ՟ 1ږJinqu
No. 1 ”). The ultimate beneficial owner holding 30% or more interest in Duokong Wenjian No. 1 and Duokong
Wenjian No. 2 is. Wang Qiang ( ˮ੶), with no other ultimate beneficial owners holding 30% or more interest
in Duokong Wenjian No.1, Duokong Wenjian No. 2 and Jinqu No.1. To the best of CICC FT s knowledge, after
making all reasonable inquiries, each of the CICC FT Ultimate Client and its ultimate beneficial owner is a third
party independent from CICC FT and CICCHKS and the companies which are members of the same group of
companies as CICCHKS.
(9) 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 clients (the “CSICM Ultimate Clients ”), 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 Clients 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 Clients. 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 Clients, CSICM will dispose of the CSICM Offer Shares on the secondary market and the CSICM
Ultimate Clients 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. The
CSICM Ultimate Clients are (i) Shenzhen Commando Capital Management Co., Ltd. ( ଉέ̹ੰਟᅃ༟͉၍ଣ
ʮ̡ ) investing for and on behalf of nine different funds in the PRC, with the ultimate beneficial owners
holding 30% or more interest in such funds being Ding Ying ( ɕๅ), Huang Xiaolei ( රወᑜ) and Guo Hongqi
(փ), with no other persons holding 30% or more interests therein; and (ii) Beevest Capital Management
Limited, investing for and on behalf of Global Multi Alpha Fund SP, with the ultimate beneficial owner holding
30% or more interest in such fund being Zeng Shuzhen and (iii) Perseverance Asset Management L.l.p. ( ɪऎ
৷ᆇ༟ପ၍ଣΥྫΆุ (Υྫ )), investing for and on behalf of five different funds in the PRC, with no
ultimate beneficial owners holding 30% or more interest in such funds. To the best of CSICM s knowledge,
after making all reasonable inquiries, each of the CSICM Ultimate Clients and its ultimate beneficial owner
is a third party independent from CSICM, CLSA and the companies which are members of the same group of
companies as CLSA
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27
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 (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 dated December 30, 2025 issued by Shenzhen Edge Medical
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 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 Thursday, January 8, 2026).
--- page 28 ---
28
PUBLIC FLOAT AND FREE FLOAT
Immediately after the completion of the Global Offering, 191,842,718 H Shares, representing
approximately 49.48% of the issued share capital of our Company (before any exercise of the
Over-allotment Option) will count towards the public float. Therefore, the number of H shares held
in public hands is higher than the prescribed percentage of H Shares required to be held in public
hands of 15% under Rule 19A.13A(1) of the Listing Rules, satisfying the minimum percentage
requirement in compliance with Rule 19A.13A(1) of the Listing Rules calculated based on the
Offer Price of HK$43.24 per Offer Share.
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$43.24 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 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. (Hong Kong time)
on Thursday, January 8, 2026, provided that (i) the Global Offering has become unconditional
in all respects, and (ii) the right of termination described in the section headed “Underwriting
Underwriting Arrangements and Expenses Hong Kong Underwriting Agreement Grounds for
termination ” 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. (Hong Kong time) on Thursday, January 8, 2026, it is expected that dealings in the H
Shares on the Stock Exchange will commence at 9:00 a.m. on Thursday, January 8, 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
2675.
By order of the Board
Shenzhen Edge Medical Co., Ltd.
(深圳市精鋒醫療科技股份有限公司 )
Dr. Wang Jianchen
Chairman of the Board and Executive Director
Hong Kong, January 7, 2026
As of the date of this announcement, the board of directors of the Company comprises (i) Dr.
Wang Jianchen, Dr. Gao Yuanqian and Ms. Wu Mengyuan as executive directors; (ii) Mr. Sheng
Li, Mr. Chen Gang and Mr. Qiu Xiang as non-executive directors, and (iii) Mr. Yang Fan, Mr.
Zhang Guoguang and Mr. Lau Ying Kit as independent non-executive directors.