hk-ipo/data/extracted_text/06959/allotment_results_2024-01-08_2024010801108.txt

--- page 1 ---
1
Changjiu Holdings Limited
長久股份有限公司
(Incorporated in the Cayman Islands with limited liability)
GLOBAL OFFERING
Number of Offer Shares under the
Global Offering
: 50,540,000 Shares
Number of Hong Kong Offer Shares : 5,054,000 Shares
Number of International Offer Shares : 45,486,000 Shares
Offer Price : HK$5.95 per Share, plus brokerage of
 1.0%, SFC transaction levy of 0.0027%,
 Stock Exchange trading fee of 0.00565%
 and AFRC transaction levy of 0.00015%
Nominal value : US$0.00000066667 per Share
Stock code : 6959
Joint Sponsors, Overall Coordinators, Joint Global Coordinators,
Joint Bookrunners and Joint Lead Managers
Joint Bookrunners and Joint Lead Managers


--- page 2 ---
CHANGJIU HOLDINGS LIMITED / 长久股份有限公司
ANNOUNCEMENT OF FINAL OFFER PRICE AND
ALLOTMENT RESULTS
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings
as those defined in the prospectus dated 29 December 2023 (the “Prospectus”) issued by Changjiu Holdings
Limited (the “Company”).

Warning:  In view of high concentration of shareholding in a small number of Shareholders,
Shareholders and prospective investors should be aware that the price of the Shares could move
substantially even with a small number of Shares traded and should exercise extreme caution when
dealing in the Shares.
SUMMARY

Company information
Stock code  6959
Stock short name  CHANGJIU HLDGS
Dealings commencement date  9 January 2024*
*see note at the end of the announcement

Price Information
Final Offer Price  HK$5.950
Offer Price Range HK$5.950 - HK$7.900
Offer Price Adjustment exercised  No

Offer Shares and Share Capital
Number of Offer Shares  50,540,000
Number of Offer Shares in Public Offer  5,054,000
Number of offer shares in International Offer  45,486,000
Number of issued shares upon Listing  202,160,000


Offer Size Adjustment Option (Upsize option)
Number of additional shares issued under the option  0
- Public Offer  0
- International Offer  0

Over-allocation
No. of Offer Shares over-allocated  0

Proceeds
Gross proceeds (Note)  HK$300.71 million
Less: Estimated listing expenses payable based on Final
Offer Price
HK$(46.64) million
Net proceeds  HK$254.07 million

Note: Gross proceeds refers to the amount to which the issuer is entitled receive. For details of the use of
proceeds, please refer to the Prospectus dated 29 December 2023.


--- page 3 ---
ALLOTMENT RESULTS DETAILS
PUBLIC OFFER

No. of valid applications  2,510
No. of successful applications  1,696
Subscription level  11.67 times
Claw-back triggered  No
No. of Offer Shares initially available under the Public Offer  5,054,000
Final no. of Offer Shares under the Public Offer  5,054,000
% of Offer Shares under the Public Offer to the Global Offering 10.00%

Note: For details of the final allocation of shares to the Public Offer , investors can refer to
https://www.hkeipo.hk/iporesult to perform a search by name or identification number or
https://www.hkeipo.hk/iporesult for the full list of allottees.
INTERNATIONAL OFFER

No. of placees  107
Subscription Level  1.07 times
No. of Offer Shares initially available under the International
Offer
45,486,000
Final no. of Offer Shares under the International Offer (after
reallocation)
45,486,000
% of Offer Shares under the International Offer to the Global
Offering
90.00%

The Directors confirm that, to the best of their knowledge, information and belief, (i) none of the Offer Shares
subscribed by the placees and the public have been financed directly or indirectly by the Company, any of the
Directors, chief executive of the Company, controlling shareholders, substantial shareholders, existing
shareholders of the Company or any of its subsidiaries or their respective close associates ; and (ii) none of
the placees and the public who  have purchased the Offer Shares are accustomed to taking instructions from
the Company,  any of the Directors, chief executive of the Company, controlling shareholders, substantial
shareholders, existing shareholders of the Company or any of its subsidiari es or their respective close
associates in relation to the acquisition, disposal, voting or other disposition of Shares registered in his/her/its
name or otherwise held by him/her/it.

LOCK-UP UNDERTAKINGS

Controlling Shareholders


--- page 4 ---
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
Last day subject  to the
lock-up  undertakings
Li Guiping / 李桂屏
Bo Shijiu / 薄世久
Brighht Limited
Brightio Limited
Advancey Limited
Advancd Limited
Creationn Limited
CreateCube Limited
150,000,000 74.20% 8 July 2024 (First Six-
Month Period) Note 1
 8 January 2025
(Second Six-Month
Period) Note 2
Subtotal 150,000,000 74.20%

In accordance with the relevant Listing Rule/guidance materials, the required lock-up for the first six-month
period ends on 8 July 2024 and for the second six-month period, on 8 January 2025.

Ms. Li Guiping, Mr. Bo  Shijiu, Brighht Limited, Brightio Limi ted, Advancey Limited, Advancd Limited,
Creationn Limited and  CreateCube Limited are a group of Controlling Shareholders. For details, please
refer to the section headed “Relationship with Our Controlling Shareholders” in the Prospectus.


Notes
1. The Controlling Shareholder s will cease to be prohibited from disposing of or transferring  Shares  after the indicated
date.

2. The Controlling Shareholder s may dispose of or transfer Shares aft er the indicated  date subject  to that the
Controlling  Shareholder  will not cease to be a Controlling  Shareholder.

Existing Shareholder
 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
Last day subject  to the
lock-up undertakings
(non disposal of any
shares)
Yuan Shenghe
(Shanghai) Enterprise
Management Partnership
(Limited Partnership) /
元聖禾(上海)企業管理
合夥企業(有限合夥)
1,620,000 0.80% 6 March 2024
Subtotal 1,620,000 0.80%

The expiry date of the lock-up period shown in the table above is pursuant to the Prospectus disclosure.


--- page 5 ---
PLACEE CONCENTRATION ANALYSIS
Placees
Number of International
Offer Shares allotted

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

% of total issued share capital upon
Listing
Top 1 9,200,000  20.23% 18.20% 9,200,000  4.55%
Top 5 38,780,000  85.26% 76.73% 38,780,000  19.18%
Top 10 45,437,500  99.89% 89.90% 45,437,500  22.48%
Top 25 45,445,000  99.91% 89.92% 45,445,000  22.48%

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


--- page 6 ---
SHAREHOLDER CONCENTRATION ANALYSIS
Shareholders
Number of  Inte
rnational Offer
Shares allotted
Number of Hong
Kong Offer Shares
allotted
Total Number of
Shares allotted

Allotment as % of
International Offering
Allotment as % of Hong
Kong Public Offering
Allotment as % of
total Offer Shares
Number of Shares
held upon Listing

% of total issued
share capital upon
Listing
Top 1 N/A N/A N/A N/A N/A N/A 150,000,000  74.20%
Top 5  32,080,000  N/A  32,080,000  70.53% N/A 63.47% 182,080,000  90.07%
Top 10 45,423,000  485,000  45,908,000  99.86% 9.60% 90.83% 197,528,000  97.71%
Top 25 45,423,000  1,687,000   47,110,000  99.86% 33.38% 93.21% 198,730,000  98.30%

Notes
* Ranking of Shareholders is based on the number of Shares held by the Shareholder upon Listing.
**Ms. Li Guiping, Mr. Bo Shijiu, Brighht Limited, Brightio Limited, Advancey Limited, Advancd Limited, Creationn Limited and CreateCube Limited are a group of Controlling
Shareholders. For details, please refer to the section headed “Relationship with Our Controlling Shareholders”  in the Prospectus. Their shares have been aggregated for the
purpose of this analysis.


--- page 7 ---
BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the Prospectus, valid applications made by
the public will be conditionally allocated on the basis set out below:
Pool A ：
NO. OF SHARES APPLIED FOR
NO. OF VALID
APPLICATIONS
BASIS OF
ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE ALLOTTED
OF THE TOTAL NO. OF
SHARES APPLIED FOR
500 661 133 out of 661 applicants to
receive 500 shares 20.12%
1,000 311 108 out of 311 applicants to
receive 500 shares 17.36%
1,500 58 28 out of 58 applicants to receive
500 shares 16.09%
2,000 65 39 out of 65 applicants to receive
500 shares 15.00%
2,500 58 42 out of 58 applicants to receive
500 shares 14.48%
3,000 57 47 out of 57 applicants to receive
500 shares 13.74%
3,500 24 23 out of 24 applicants to receive
500 shares 13.69%
4,000 30 500 shares plus 1 out of 30
applicants to receive an additional
500 shares 12.92%
4,500 13 500 shares plus 2 out of 13
applicants to receive an additional
500 shares 12.82%
5,000 79 500 shares plus 18 out of 79
applicants to receive an additional
500 shares 12.28%
6,000 543 500 shares plus 221 out of 543
applicants to receive an additional
500 shares 11.72%
7,000 25 500 shares plus 15 out of 25
applicants to receive an additional
500 shares 11.43%
8,000 27 500 shares plus 21 out of 27
applicants to receive an additional
500 shares 11.11%
9,000 9 1,000 shares 11.11%
10,000 148 1,000 shares plus 15 out of 148
applicants to receive an additional
500 shares 10.51%
15,000 48 1,000 shares plus 43 out of 48
applicants to receive an additional
500 shares 9.65%
20,000 52 1,500 shares plus 33 out of 52
applicants to receive an additional
500 shares 9.09%
25,000 42 2,000 shares plus 13 out of 42
applicants to receive an additional 8.62%


--- page 8 ---
500 shares
30,000 40 2,000 shares plus 39 out of 40
applicants to receive an additional
500 shares 8.29%
35,000 18 2,500 shares plus 12 out of 18
applicants to receive an additional
500 shares 8.10%
40,000 13 3,000 shares plus 4 out of 13
applicants to receive an additional
500 shares 7.88%
45,000 7 3,000 shares plus 6 out of 7
applicants to receive an additional
500 shares 7.62%
50,000 28 3,500 shares plus 12 out of 28
applicants to receive an additional
500 shares 7.43%
60,000 13 4,000 shares plus 8 out of 13
applicants to receive an additional
500 shares 7.18%
70,000 15 4,500 shares plus 11 out of 15
applicants to receive an additional
500 shares 6.95%
80,000 18 5,000 shares plus 14 out of 18
applicants to receive an additional
500 shares 6.74%
90,000 7 5,500 shares plus 6 out of 7
applicants to receive an additional
500 shares 6.59%
100,000 36 6,000 shares plus 29 out of 36
applicants to receive an additional
500 shares 6.40%
200,000 17 11,000 shares plus 1 out of 17
applicants to receive an additional
500 shares 5.51%
300,000 6 15,000 shares plus 2 out of 6
applicants to receive an additional
500 shares 5.06%
400,000 3 19,000 shares 4.75%
500,000 4 22,500 shares plus 1 out of 4
applicants to receive an additional
500 shares 4.53%
600,000 6 26,000 shares plus 2 out of 6
applicants to receive an additional
500 shares 4.36%
Total 2,481 Total number of Pool A successful
applicants: 1,667
Pool B ：
NO. OF SHARES APPLIED FOR
NO. OF VALID
APPLICATIONS
BASIS OF
ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE ALLOTTED
OF THE TOTAL NO. OF
SHARES APPLIED FOR
                 700,000                        20  70,000 shares 10.00%
                 800,000                         2  79,500 shares 9.94%


--- page 9 ---
900,000                         1  89,000 shares 9.89%
              1,000,000                         4  98,500 shares 9.85%
              2,527,000                         2  242,500 shares 9.60%
Total 29 Total number of Pool B successful
applicants: 29


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 inquiri es.

TERMINATION OF CEB INTERNATIONAL CAPITAL CORPORATION LIMITED AS A
JOINT BOOKRUNNER, JOINT LEAD MANAGER AND CAPITAL MARKET
INTERMEDIARY

The Directors hereby announce that the Company and CEB International Capital Corporation
Limited  have agreed to terminate the appointment of CEB International Capital Corporation
Limited as  one of its joint bookrunners, joint lead managers and capital market intermediaries on
January 8,  2024.

Save for the above, there is no change of the appointments of the joint bookrunners, the joint lead
managers and the capital market intermediaries as disclosed in the Prospectus.

COMPLIANCE WITH LISTING RULES AND GUIDANCE
The Directors confirm that , except for the Listing Rules that have been waived  and/or in respect of
which consent has been obtained, the Company has complied with the Listing Rules and guidance
materials in relation to the placing, allotment and listing of the Company’s shares.
The Directors confirm that, to the best of their knowledge, the consideration paid by the placees or the
public (as the case may be) directly or indirectly for each Offer Share subscribed for or purchased by
them was the same as the final Offer Price in addition to any brokerage, AFRC transaction levy, SFC
transaction levy and trading fee payable.

OTHERS / ADDITIONAL INFORMATION

Public float
Immediately after the completion of the Global Offering, 50,540,000 Shares, representing
approximately 25.00% of the issued share capital of our Company will count towards the public float,
satisfying the minimum percentage prescribed by Rule 8.08 of the Listing Rules.
The Directors confirm that, immediately following the completion of  the Global Offering, (i) there
will not be any new substantial Shareholder within the meaning of the Listing Rules; (ii) the three
largest public Shareholders do not hold more than 50% of the Shares in public hands at the time of the
Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules; and (iii) there will be at least
300 Shareholders at the time of the Listing in compliance with Rule 8.08(2) of the Listing Rules.

DISCLAIMERS


--- page 10 ---
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “Stock
Exchange”) and Hong Kong Securities Clearing Company Limited (“HKSCC”) take no
responsibility for the contents of this announcement, make no representation as to its accuracy or
completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from
or in reliance upon the whole or any part of the contents of this announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into the
United States (including its territories and possessions, any state of the United States and the District
of Columbia). This announcement does not constitute or form a part of any offer or solicitation to
purchase or subscribe for securities in the United States. The securities mentio ned 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 registrati on 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 s ecurities in the Un ited States.
The Offer Shares are being offered and sold outside the United States in offshore transactions in reliance
on Regulation S under the U.S. Securities Act.
This announcement is for information purposes only and does not constitute an invitation or offer to
acquire, purchase or subscribe for securities. This announcement is not a prospectus. Potential
investors should read the Prospectus dated 29 December 2023 issued by Changjiu Holdings Limited for
detailed information about the Global Offering described below before deciding whether or not to
invest in the Shares thereby being offered.
*Potential investors of  the Offer Shares should note that the  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 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 9 January 2024).


--- page 11 ---
2
COMMENCEMENT OF DEALINGS
Share certificates will only become valid evidence of title at 8:00 a.m. (Hong Kong time) on
the Listing Date, provided that the Global Offering has become unconditional and the right
of termination described in the section headed “Underwriting ” in the Prospectus has not been
exercised. Assuming the Global Offering becomes unconditional at or before 8:00 a.m. (Hong
Kong time) on Tuesday, January 9, 2024, dealings in the Company ’s Shares on the Stock Exchange
will commence at 9:00 a.m. (Hong Kong time) on Tuesday, January 9, 2024. The Shares will be
traded in board lots of 500 Shares each. The stock code of the Company ’s Shares is 6959.
By order of the Board
Changjiu Holdings Limited
Ms. LI Guiping
Chairwoman and Executive Director
Hong Kong, January 8, 2024
As at the date of this announcement, the board of directors of the Company comprises Ms. Li
Guiping, Mr. Bo Shijiu and Ms. Jia Hui as executive Directors, Ms. Jin Ting as non-executive
Director, and Mr. Shen Jinjun, Mr. Dong Yang, and Mr. Wang Fukuan as independent
non-executive Directors.