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hk-ipo/data/extracted_text/02496/allotment_results_summary_2023-09-22_2023092200026.txt
T
geometrybase 6d05056609 Backfill structured T1 demand from archived text 
Request:
- Use archivist to close the 137 T1 ipo_demand source-only gaps using extracted PDF text.

Changes:
- Add an incremental T1 demand text backfill script.
- Parse existing allotment-result extracted text into ipo_demand.
- Archive linked Summary PDFs from old HKEX HTML allotment-result pages.
- Correct allotment-result selection to prefer primary result announcements over clarification or supplemental notices.
- Add robust line-aware allotment parsing and document the workflow in archivist and README.
- Record the backfill result in a report.

Execution:
- Selected 137 source-only T1 demand gaps.
- Wrote 137 ipo_demand rows, increasing ipo_demand from 154 to 291 rows.
- Archived 38 new HKEX allotment-result PDFs and extracted their text.
- Confirmed an incremental rerun selects 0 gaps and writes 0 rows.

Verification:
- Ran git diff --cached --check.
- Ran py_compile for archive_hkex_documents.py and backfill_t1_demand_from_text.py.
- Checked SQLite integrity and foreign keys.
- Confirmed DB row counts match CSV snapshots.
- Verified no T1 complete row is missing ipo_demand.
- Verified source_refs paths/files/hashes and PDF extracted-text manifest hashes.

Next useful context:
- T1 demand structure is complete for listed rows; 06106 and 06675 remain pending_not_due.
- T2 grey-market and due price-performance gaps remain separate archivist priorities.
- Analyst output should be regenerated before using the new T1 demand facts for scoring.
2026-06-15 13:59:06 +00:00

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59 KiB
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--- page 1 ---
3
ANNOUNCEMENT OF OFFER PRICE AND ALLOTMENT RESULTS
SUMMARY
OFFER PRICE
• The Offer Price is HK$16.00 per Offer Share (exclusive of brokerage of 1.0%, SFC
transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
trading fee of 0.00565%).
NET PROCEEDS FROM THE GLOBAL OFFERING
• At the Offer Price of HK$16.00 per Offer Share, the net proceeds from the Global
Offering to be received by the Company, after deduction of the underwriting fees and
commissions and other estimated expenses payable by the Company in connection with
the Global Offering, are estimated to be approximately HK$121.4 million, assuming the
Over-allotment Option is not exercised. Listing expenses to be borne by the Company are
estimated to be approximately HK$54.6 million (including underwriting commission, at the
Offer Price of HK$16.00 per H Share), which represent 31.0% of the gross proceeds from
the Global Offering, comprising underwriting-related fees of RMB5.9 million, and non-
underwriting-related expenses of RMB44.1 million. The Company intends to apply such
net proceeds from the Global Offering in the manner set out in the section headed “Net
Proceeds from the Global Offering ” in this announcement.
• If the Over-allotment Option is exercised in full, the Company will receive additional net
proceeds of approximately HK$25.2 million for 1,650,000 additional Offer Shares to be
issued and allotted upon the exercise of the Over-allotment Option, which will be allocated
on a pro rata basis according to the use of proceeds as set out in the paragraph headed “Net
Proceeds from the Global Offering ” in this announcement.
APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
PUBLIC OFFERING
• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
been moderately over-subscribed. A total of 8,990 valid applications have been received
pursuant to the Hong Kong Public Offering through the White Form eIPO service and
through the CCASS EIPO service for a total of 15,194,600 Hong Kong Offer Shares,
representing approximately 13.81 times of the total number of 1,100,200 Hong Kong Offer
Shares initially available for subscription under the Hong Kong Public Offering.
--- page 2 ---
4
• As the over-subscription in the Hong Kong Public Offering is less than 15 times, the
reallocation procedures as described in the section headed “Structure of the Global Offering
– The Hong Kong Public Offering – Reallocation ” in the Prospectus have not been applied
and no International Offer Shares have been reallocated from the International Offering to
the Hong Kong Public Offering. The final number of Hong Kong Offer Shares under the
Hong Kong Public Offering is 1,100,200 Offer Shares, representing approximately 10% of
the total number of Offer Shares initially available under the Global Offering (before any
exercise of the Over-allotment Option). There are a total number of 2,428 Shareholders
who were allocated Offer Shares under the Hong Kong Public Offering, among which,
2,277 Shareholders, representing approximately 93.78% of the Shareholders who were
allocated Offer Shares under the Hong Kong Public Offering, were allocated with one
board lot of the Offer Shares, totaling 455,400 Offer Shares, representing approximately
41.39% of the total Offer Shares under the Hong Kong Public Offering.
INTERNATIONAL OFFERING
• The International Offer Shares initially offered under the International Offering have
been slightly over-subscribed, representing approximately 1.57 times of the total number
of Offer Shares initially available under the International Offering. The final number of
International Offer Shares under the International Offering is 9,901,000 Offer Shares,
representing approximately 90% of the total number of Offer Shares initially available
under the Global Offering (before any exercise of the Over-allotment Option).
• There has been an over-allocation of 1,650,000 Offer Shares and there are a total of
118 placees under the International Offering, among which 100 placees, representing
approximately 84.75% of the total number of placees under the International Offering,
have been allotted one board lot of Offer Shares, totaling 20,000 Offer Shares, representing
approximately 0.20% of the total number of Offer Shares available under the International
Offering (before any exercise of the Over-allotment Option).
Cornerstone Investors
• At the Offer Price of HK$16.00 per Offer Share (exclusive of brokerage of 1.0%, SFC
transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
trading fee of 0.00565%) and pursuant to the Cornerstone Investment Agreements entered
into with the Cornerstone Investors as disclosed in the section headed “Cornerstone
Investors ” in the Prospectus, the Cornerstone Investors have subscribed for a total of
6,513,800 Offer Shares, representing approximately 3.38% of the total issued share
capital of the Company immediately upon the completion of the Global Offering and
approximately 59.21% of the number of Offer Shares under the Global Offering (before
any exercise of the Over-allotment Option).
--- page 3 ---
5
• The Company has applied to the Stock Exchange for, and the Stock Exchange has granted
to the Company, (i) a waiver from strict compliance with Rule 10.04 of the Listing Rules
and its consent under paragraph 5(2) of Appendix 6 to the Listing Rules (the “Placing
Guidelines ”) to allow Wuhan Optics Valley Health Industry Investment Ltd. (an existing
Shareholder) ( “Guanggu Health ”); and (ii) a waiver from strict compliance with Rules
9.09 and 10.03 of the Listing Rules and its consent under paragraph 5(2) of the Placing
Guidelines to allow Chengdu Puhua Kaizhi Biotechnology Co., Ltd. (a close associate of
Yuan Qian and Dr. Zhou Hongfeng, being the Company ’s existing Shareholders and non-
executive Directors, and thus a core connected person of the Company) ( “Puhua Kaizhi ”),
to participate as Cornerstone Investors in the Global Offering. Please refer to the section
headed “Waivers from Strict Compliance with the Listing Rules and Exemption from Strict
Compliance with the Companies (Winding Up and Miscellaneous Provisions) Ordinance ”
in the Prospectus.
• Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further
details of the Cornerstone Investors.
Over-allotment Option
• In connection with the Global Offering, the Company has granted the Over-allotment
Option to the International Underwriters, exercisable by the Overall Coordinator (for
themselves and on behalf of the International Underwriters), at any time from the Listing
Date to Wednesday, October 18, 2023, being the 30th day after the last day for lodging
applications under the Hong Kong Public Offering, to require the Company to issue and
allot up to an aggregate of 1,650,000 additional Offer Shares, representing not more
than approximately 15.0% of the total number of Offer Shares initially available under
the Global Offering, at the Offer Price to cover the over-allocations in the International
Offering.
• There has been an over-allocation of 1,650,000 Offer Shares in the International Offering.
Such over-allocation may be covered by exercising the Over-allotment Option in part or
by making purchases in the secondary market or a combination of these means. In the
event the Over-allotment Option is exercised, an announcement will be made on the Stock
Exchange ’s website at www.hkexnews.hk and the Company ’s website at www.yzybio.com .
As of the date of this announcement, the Over-allotment Option has not been exercised.
--- page 4 ---
6
CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
• To the best knowledge, information and belief of the Directors, save as disclosed in the
section headed “International Offering – Cornerstone Investors ” in this announcement, no
Offer Shares placed by or through the Overall Coordinator, the Joint Global Coordinators,
the Joint Bookrunners, the Joint Lead Managers or the Underwriters under the Global
Offering have been placed to applicants who are core connected persons of the Company,
or connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons
set out in paragraph 5(2) of the Placing Guidelines, whether in their own names or through
nominees. The International Offering is in compliance with the Placing Guidelines.
• The Directors confirm that, to the best of their knowledge, information and belief, save
as Guanggu Health (an existing Shareholder) and Puhua Kaizhi (a close associate of
Yuan Qian and Dr. Zhou Hongfeng, being the Company ’s existing Shareholders and
non-executive Directors, and thus a core connected person of the Company), (i) none of
the Offer Shares subscribed by public Shareholders in the Hong Kong Public Offering
and placees in the International Offering has been financed directly or indirectly by the
Company, its Directors, chief executive, substantial Shareholders, existing Shareholders
or any of their subsidiaries or their respective close associates; (ii) no rebate has been,
directly or indirectly, provided by the Company, its Directors, chief executive, substantial
Shareholders, existing Shareholders or any of their subsidiaries or their respective close
associates or syndicate members or any other brokers to any public Shareholders in the
Hong Kong Public Offering or placees in the International Offering; (iii) none of the public
Shareholders in the Hong Kong Public Offering and placees in the International Offering
who has subscribed for the Offer Shares is accustomed to taking instructions from the
Company, its Directors, chief executive, substantial Shareholders, existing Shareholders or
any of their subsidiaries or their respective close associates in relation to the acquisition,
disposal, voting or other disposition of the H Shares registered in his/her/its name or
otherwise held by him/her/it; (iv) the consideration payable by the public Shareholders in
the Hong Kong Public Offering and placees in the International Offering for each Offer
Share subscribed for or purchased by them is the same as the Offer Price, in addition to
brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015%
and Stock Exchange trading fee of 0.00565%; and (v) there is no side agreement or
arrangement between the Company, its Directors, chief executive, substantial Shareholders,
existing Shareholders or any of their subsidiaries or their respective close associates or
syndicate members or any other brokers, on one hand, and the public Shareholders or the
placees who have subscribed for the Offer Shares, on the other hand.
• The Directors confirm that, to the best of their knowledge, information and belief, none
of the placees under the International Offering will be placed more than 10% of the
enlarged issued share capital of the Company immediately following the completion of
the Global Offering. Accordingly, the Directors confirm that none of the placees will
become a substantial shareholder of the Company immediately following the completion
of the International Offering, and there will not be any new substantial Shareholder of the
Company immediately following the completion of the Global Offering.
--- page 5 ---
7
LOCK-UP UNDERTAKINGS
• Each of the Company, the Single Largest Group of Shareholders, the Cornerstone Investors
and all existing Shareholders is subject to certain lock-up undertakings set out in the
section headed “Lock-up Undertakings ” in this announcement.
RESULTS OF ALLOCATIONS
• Results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
Offering, including the Offer Price, the level of indications of interest in the International
Offering, the level of applications in the Hong Kong Public Offering and the basis of
allocation of the Hong Kong Offer Shares will be published on Friday, September 22,
2023 on the websites of the Stock Exchange at www.hkexnews.hk and the Company at
www.yzybio.com .
• The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public
Offering successfully applied for through the White Form eIPO service or through the
CCASS EIPO service, including the Hong Kong identity card numbers, passport numbers,
Hong Kong business registration numbers or certificate of incorporation numbers of
successful applicants (where applicable) and the number of Hong Kong Offer Shares
successfully applied for, will be made available at the times and dates and in the manner
specified below:
• in the announcement to be posted on the Company ’s website at www.yzybio.com
and the Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m.
on Friday, September 22, 2023. Please note that the list of identification document
numbers set out in this announcement may not be a complete list of successful
applicants since only successful applicants whose identification document numbers
are provided to HKSCC by CCASS Participants or via the White Form eIPO
service are disclosed. Applicants with beneficial names only but not identification
document numbers are not disclosed due to personal privacy issue as elaborated
below. Applicants who applied for the Hong Kong Offer Shares through their brokers
or nominees can consult their brokers or nominees to enquire about their application
results;
• from the designated results of allocations website at www.iporesults.com.hk
(alternatively: English https://www.eipo.com.hk/en/Allotment ;
Chinese https://www.eipo.com.hk/zh-hk/Allotment ) with a “search by ID ” function
on a 24-hour basis from 8:00 a.m. on Friday, September 22, 2023 to 12:00 midnight
on Thursday, September 28, 2023; and
• from the allocation results telephone enquiry by calling +852 2862 8555 between 9:00
a.m. and 6:00 p.m. on Friday, September 22, 2023, Monday, September 25, 2023,
Tuesday, September 26, 2023 and Wednesday, September 27, 2023.
• This announcement contains a list of identification document numbers. Identification
document numbers shown in the section headed “Results of Applications Made by White
Form eIPO ” in this announcement refer to Hong Kong identity card numbers/passport
numbers/Hong Kong business registration numbers/certificate of incorporation numbers/
beneficial owner identification codes (if such applications are made by nominees as agent
for the benefit of another person), whereas those displayed in the section headed “Results
of Applications Made by Giving Electronic Application Instructions to HKSCC via
CCASS” in this announcement are provided by CCASS Participants via CCASS. Therefore,
the identification document numbers shown in the two sections are different in nature.
--- page 6 ---
8
• Since applications are subject to personal information collection statements, beneficial
owner identification codes displayed in the sections headed “Results of Applications
Made by White Form eIPO ” and “Results of Applications Made by Giving Electronic
Application Instructions to HKSCC via CCASS ” are redacted and not all details of
applications are disclosed in this announcement.
DESPATCH/COLLECTION OF H SHARE CERTIFICATES AND REFUND MONIES
• Applicants who applied for 500,000 Hong Kong Offer Shares or more through the
White Form eIPO service and who have been wholly or partially successfully allocated
Hong Kong Offer Shares may collect H Share certificates and/or refund cheques (where
applicable) in person from the Hong Kong Share Registrar, Computershare Hong Kong
Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen ’s
Road East, Wan Chai, Hong Kong from 9:00 a.m. to 1:00 p.m. on Friday, September 22,
2023 or any other place or date as notified by the Company.
• Applicants being individuals who are eligible for personal collection must not authorize
any other person to make collection on their behalf. Corporate applicants which are
eligible for personal collection must attend by their authorized representatives bearing
letters of authorization from their corporations stamped with the corporations ’ chops. Both
individuals and authorized representatives (if applicable) must produce, at the time of
collection, evidence of identity acceptable to Computershare Hong Kong Investor Services
Limited.
• H Share certificates for Hong Kong Offer Shares allotted to applicants who applied through
the White Form eIPO service which are either not available for personal collection
(including applicants who applied for less than 500,000 Hong Kong Offer Shares through
the White Form eIPO service) or which are available but are not collected in person by
1:00 p.m. on Friday, September 22, 2023 are expected to be despatched by ordinary post
to the addresses specified in the relevant applications at their own risk on or before Friday,
September 22, 2023.
• Wholly or partially successful applicants who applied by giving electronic application
instructions to HKSCC via CCASS will have their H Share certificates issued in the name
of HKSCC Nominees Limited and deposited directly into CCASS for credit to their CCASS
Investor Participant stock accounts or the stock accounts of their designated CCASS
Participant who gave electronic application instructions on their behalf on Friday,
September 22, 2023.
• Applicants who applied through a designated CCASS Participant (other than a CCASS
Investor Participant) should check the number of Hong Kong Offer Shares allocated to
them and the amount of refund monies payable to them with that CCASS Participant.
--- page 7 ---
9
• Applicants who applied as a CCASS Investor Participant by giving electronic application
instructions to HKSCC via CCASS should check and report any discrepancies to HKSCC
before 5:00 p.m. on Friday, September 22, 2023 or such other date as shall be determined
by HKSCC or HKSCC Nominees. Applicants who applied as a CCASS Investor Participant
by giving electronic application instructions to HKSCC via CCASS may also check
the results of their applications and the amount of refund monies payable to them via the
CCASS Phone System and the CCASS Internet System (under the procedures contained
in HKSCC ’s “An Operating Guide for Investor Participants ” in effect from time to time).
Immediately after the crediting of the Hong Kong Offer Shares to the CCASS Investor
Participants stock accounts and the crediting of the refund monies to their respective
designated bank account, HKSCC will also make available to the CCASS Investor
Participants an activity statement showing the number of Hong Kong Offer Shares credited
to their stock accounts and the amount of refund monies (if any) credited to their respective
designated bank accounts.
• Applicants who applied through the White Form eIPO service and paid the application
monies through a single bank account will have refund monies (if any) despatched to
their application payment bank account in the form of e-Refund payment instructions on
or before Friday, September 22, 2023. Applicants who applied through the White Form
eIPO service and paid the application monies through multiple bank accounts will have
refund monies (if any) despatched to the addresses specified on their White Form eIPO
applications in the form of refund cheque(s) by ordinary post at their own risk on or before
Friday, September 22, 2023.
• Refund monies (if any) for applicants who applied by giving electronic application
instructions to HKSCC via CCASS are expected to be credited to their designated
bank accounts or the designated bank accounts of their brokers or custodians on Friday,
September 22, 2023.
• H Share certificates will only become valid evidence of title at 8:00 a.m. (Hong Kong
time) on Monday, September 25, 2023 provided that the Global Offering has become
unconditional in all respects at or before that time and the right of termination described
in the section headed “Underwriting – Underwriting Arrangements and Expenses –
Hong Kong Public Offering – Hong Kong Underwriting Agreement – Grounds for
Termination ” in the Prospectus has not been exercised.
• The Company will not issue any temporary documents of title in respect of the Offer
Shares and will not issue any receipt for application monies received.
--- page 8 ---
10
PUBLIC FLOAT
• The Directors of the Company confirm that there will not be any new substantial
Shareholder immediately after the Global Offering within the meaning of the Listing Rules
and the number of shares to be held by the public will satisfy the minimum percentage
prescribed under Rule 8.08 of the Listing Rules.
• Immediately following completion of the Global Offering and before the exercise of the
Over-allotment Option, the number of H Shares in public hands will be 58,036,429 H
Shares, representing approximately 30.1% of the total issued share capital of the Company
which satisfies Rule 8.08(1) of the Listing Rules, and the three largest public shareholders
of the Company do not hold more than 50% of the shares held in public hands at the
time of the Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules. The
Directors confirm that there will be at least 300 Shareholders at the time of the Listing in
compliance with Rule 8.08 (2) of the Listing Rules. The Company will comply with Rule
18A.07 of the Listing Rules that a portion of the total number of the Company ’s issued
shares with a market capitalization of at least HK$375 million will be held by the public at
the time of Listing.
COMMENCEMENT OF DEALINGS IN THE H SHARES
• Assuming that the Global Offering becomes unconditional in all respects at or before 8:00
a.m. on Monday, September 25, 2023 (Hong Kong time), dealings in the H Shares on the
Main Board of the Stock Exchange are expected to commence at 9:00 a.m. on Monday,
September 25, 2023 (Hong Kong time). The H Shares will be traded in board lots of 200 H
Shares each. The stock code of the H Shares is 2496.
• In view of the high concentration of shareholding in a small number of Shareholders,
Shareholders and prospective investors should be aware that the price of the H Shares
could move substantially even with a small number of H Shares traded, and should
exercise extreme caution when dealing in the H Shares.
OFFER PRICE
The Offer Price is HK$16.00 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction
levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of
0.00565%).
NET PROCEEDS FROM THE GLOBAL OFFERING
At the Offer Price of HK$16.00 per Offer Share, the net proceeds from the Global Offering to be
received by the Company, after deduction of the underwriting fees and commissions and other
estimated expenses payable by the Company in connection with the Global Offering, are estimated
to be approximately HK$121.4 million (assuming the Over-allotment Option is not exercised).
Listing expenses to be borne by the Company are estimated to be approximately HK$54.6 million
(including underwriting commission, at the Offer Price of HK$16.00 per H Share), which represent
31.0% of the gross proceeds from the Global Offering, comprising underwriting-related fees of
RMB5.9 million, and non-underwriting related expenses of RMB44.1 million.
--- page 9 ---
11
The Company intends to apply such net proceeds as follows:
(a) approximately 80% of the net proceeds, or approximately HK$97.1 million, will be used for
planned clinical trials, preparation for registration filings, and the planned commercial launch
(including sales and marketing activities) of M701, the Company ’s Core Product, of which
(i) approximately 40%, or HK$48.6 million, will be used for planned clinical trials of
M701 for the treatment of MA. The Company plans to commence a pivotal/Phase III
trial for M701 in treating MA in China in the first quarter of 2024.
(ii) approximately 20%, or HK$24.3 million, will be used for planned clinical trials of
M701 for the treatment of MPE. The Company plans to commence a pivotal/Phase III
trial for M701 for the treatment of MPE in China in the third quarter of 2024.
(iii) approximately 20%, or HK$24.3 million, will be used for the preparation for
registration filings with the NMPA, planned commercial launch (including sales and
marketing activities), and other regulatory matters for M701. The Company plans
to submit the BLAs for M701 with the NMPA for the treatment of MA and MPE in
the first quarter of 2025 and the fourth quarter of 2025, respectively. In addition, the
Company plans to file the IND application for M701 with the NMPA for the treatment
of solid tumor in the first quarter of 2024. In preparation for the commercial launch
of M701, the Company will build an in-house commercialization team with medical
and scientific background to maximize the reach of the Company ’s product offering
and expedite market acceptance of its products in China. The Company plans to
market M701 through a physician-targeted marketing strategy, focusing on direct
and interactive communication with key opinion leaders and physicians to promote
the clinical use of M701. For more details, please refer to the paragraphs headed
“Business – Commercialization ” in the Prospectus. The Company also plans to make
preparation for the commercial manufacturing of M701, which includes process transfer,
sample production, process characterization and validation, and quality control.
(b) approximately 12% of the net proceeds, or approximately HK$14.6 million, will be used for
planned clinical trials of Y101D, of which
(i) approximately 9.3%, or HK$11.3 million, will be used for planned clinical trials of
Y101D in combination therapy in treating pancreatic cancer. The Company commenced
a Phase Ib/II clinical trial of Y101D in combination with gemcitabine and albumin
paclitaxel as the first-line treatment for pancreatic cancer patients in China in February
2023, commenced patient enrollment for the Phase II portion of this trial in July 2023,
and expect to complete this trial by the third quarter of 2024. Following the completion
of this Phase Ib/II clinical trial, the Company also plans to commence a Phase III
clinical trial in the fourth quarter of 2024 and expect to complete this trial by the second
quarter of 2026.
(ii) approximately 2.7%, or HK$3.3 million, will be used for planned clinical trials of
Y101D in combination therapy in treating HCC and other advanced solid tumors.
The Company commenced a Phase Ib/II clinical trial of Y101D in combination with
bevacizumab in treating HCC and other advanced solid tumors in China in March
2023 and expect to complete this trial by the second quarter of 2025. Following the
completion of this Phase Ib/II clinical trial, the Company also plans to commence a
Phase III clinical trial.
--- page 10 ---
12
The Company has executed an adaptive clinical development strategy and may evaluate
and adjust its priorities and funding allocations for different indications or other aspects
of its clinical trials for each drug candidate from time to time based on the status and
results of ongoing clinical trials, while the percentages of proceeds allocated to each
drug candidate will generally remain stable. Therefore, the percentages and amounts of
net proceeds allocated to each indication, clinical trial and/or commercialization plan of
each drug candidate may be subject to change.
(c) approximately 8%, or HK$9.7 million, will be used for working capital and general corporate
purposes.
To the extent that the net proceeds from the Global Offering are not immediately used for the
purposes described above and to the extent permitted by the relevant laws and regulations,
they will be placed in short-term demand deposits with licensed banks or authorized financial
institutions (as defined under the SFO for Hong Kong based deposits or the applicable laws in the
relevant jurisdiction for non-Hong Kong based deposits) so long as it is deemed to be in the best
interests of the Company. The Company will issue an appropriate announcement if there is any
material change to the above proposed use of proceeds.
If the Over-allotment Option is exercised in full, the Company will receive additional net proceeds
of approximately HK$25.2 million for 1,650,000 additional Offer Shares to be issued and allotted
upon the exercise of the Over-allotment Option, which will be allocated on a pro rata basis
according to the use of proceeds as set out in the paragraph headed “Net Proceeds from the Global
Offering ” in this announcement.
For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
the Prospectus.
APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
PUBLIC OFFERING
The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been
moderately over-subscribed. A total of 8,990 valid applications have been received pursuant to the
Hong Kong Public Offering through the White Form eIPO service and through the CCASS EIPO
service for a total of 15,194,600 Hong Kong Offer Shares, representing approximately 13.81 times
of the total number of 1,100,200 Hong Kong Offer Shares initially available for subscription under
the Hong Kong Public Offering, among which:
• 8,978 valid applications in respect of a total of 11,494,600 Hong Kong Offer Shares were
for the Hong Kong Public Offering with a total subscription price of HK$5 million or less
at the maximum Offer Price of HK$20.00 per H Share (exclusive of brokerage of 1.0%,
SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
trading fee of 0.00565%), representing approximately 20.89 times of the 550,200 Hong Kong
Offer Shares initially comprised in Pool A of the Hong Kong Public Offering; and
• 12 valid applications in respect of a total of 3,700,000 Hong Kong Offer Shares were for
the Hong Kong Public Offering with a total subscription price of more than HK$5 million
at the maximum Offer Price of HK$20.00 per H Share (exclusive of brokerage of 1.0%,
SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange
trading fee of 0.00565%), representing 6.73 times of the 550,000 Hong Kong Offer Shares
initially comprised in Pool B of the Hong Kong Public Offering.
--- page 11 ---
13
No application has been rejected due to invalid application. Four multiple or suspected multiple
applications have been identified and rejected. One application has been rejected due to dishonored
payment. No application for more than 550,000 Hong Kong Offer Shares (being 50% of the Hong
Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
As the over-subscription in the Hong Kong Public Offering is less than 15 times, the reallocation
procedures as described in the section headed “Structure of the Global Offering – The Hong Kong
Public Offering – Reallocation ” in the Prospectus have not been applied and no International Offer
Shares have been reallocated from the International Offering to the Hong Kong Public Offering.
The final number of Hong Kong Offer Shares under the Hong Kong Public Offering is 1,100,200
Offer Shares, representing approximately 10% of the total number of Offer Shares initially
available under the Global Offering. There are a total number of 2,428 Shareholders who were
allocated Offer Shares under the Hong Kong Public Offering, among which, 2,277 Shareholders,
representing approximately 93.78% of the Shareholders who were allocated Offer Shares under
the Hong Kong Public Offering, were allocated with one board lot of the Offer Shares, totaling
455,400 Offer Shares, representing approximately 41.39% of the total Offer Shares under the Hong
Kong Public Offering.
The Offer Shares offered in the Hong Kong Public Offering were conditionally allocated on the
basis set out in the section headed “Basis of Allocation under the Hong Kong Public Offering ”
below.
INTERNATIONAL OFFERING
The International Offer Shares initially offered under the International Offering have been slightly
over-subscribed, representing approximately 1.57 times of the total number of Offer Shares
initially available under the International Offering. The final number of International Offer Shares
under the International Offering is 9,901,000 Offer Shares, representing approximately 90% of the
total number of Offer Shares initially available under the Global Offering (before any exercise of
the Over-allotment Option).
There has been an over-allocation of 1,650,000 Offer Shares and there are a total of 118 placees
under the International Offering, among which 100 placees, representing approximately 84.75% of
the total number of placees under the International Offering, have been allotted one board lot of
Offer Shares, totaling 20,000 Offer Shares, representing approximately 0.20% of the total number
of Offer Shares available under the International Offering (before any exercise of the Over-
allotment Option).
--- page 12 ---
14
Cornerstone Investors
At the Offer Price of HK$16.00 per H Share (exclusive of brokerage of 1.0%, SFC transaction levy
of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%)
and pursuant to the Cornerstone Investment Agreements entered into with the Cornerstone
Investors as disclosed in the section headed “Cornerstone Investors ” in the Prospectus, the number
of Offer Shares subscribed for by the Cornerstone Investors is set out below:
Assuming the Over-allotment Option
is not exercised
Assuming the Over-allotment Option
is exercised in full
Cornerstone
Investor
Total
Investment
Amount
Number
of Offer
Shares to be
acquired (1)
Approximate
% of the
Offer Shares
% of the
H Shares
in issue
Approximate
% of
Ownership
Approximate
% of the
Offer Shares
% of the
H Shares
in issue
Approximate
% of
Ownership
Guanggu Health RMB40.0 million 2,686,000 24.42% 2.43% 1.39% 21.23% 2.39% 1.38%
Chuxing Yourui RMB37.0 million 2,485,200 22.59% 2.25% 1.29% 19.64% 2.21% 1.28%
Puhua Kaizhi RMB20.0 million 1,342,600 12.20% 1.21% 0.70% 10.61% 1.20% 0.69%
Total RMB97.0 million 6,513,800 59.21% 5.89% 3.38% 51.49% 5.80% 3.35%
Note:
(1) The actual number of Offer Shares varied from the disclosure in the Prospectus due to the actual exchange rate
used for subscription according to the relevant Cornerstone Investment Agreements, which is the exchange
rate at the time when the investment monies in Renminbi were converted into Hong Kong dollars by each of
the cornerstone investors and rounded down to the nearest whole board lot of 200 H Shares. The total number
of 6,626,000 Offer Shares acquired by the Cornerstone Investors disclosed in the Prospectus is for illustration
purpose and is based on the exchange rate set out in the section headed “Information about this Prospectus and
the Global Offering – Currency Translations ” in the Prospectus.
The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to the
Company, (i) a waiver from strict compliance with Rule 10.04 of the Listing Rules and its consent
under paragraph 5(2) of the Placing Guidelines to allow Guanggu Health, which is an existing
Shareholder; and (ii) a waiver from strict compliance with Rules 9.09 and 10.03 of the Listing
Rules and its consent under paragraph 5(2) of the Placing Guidelines to allow Puhua Kaizhi,
which is a close associate of Yuan Qian and Dr. Zhou Hongfeng, being the Company ’s existing
Shareholders and non-executive Directors, and thus a core connected person of the Company, to
participate as Cornerstone Investors in the Global Offering. Please refer to the section headed
“Waivers from Strict Compliance with the Listing Rules and Exemption from Strict Compliance
with the Companies (Winding Up and Miscellaneous Provisions) Ordinance ” in the Prospectus.
To the best knowledge of the Company, none of the Cornerstone Investors or their respective
controlling entity is listed on any stock exchange. Each of the Cornerstone Investors has confirmed
that all necessary approvals have been obtained with respect to the Cornerstone Placing and that
no specific approval from any stock exchange (if relevant) or its shareholders is required for the
relevant cornerstone investment as each of them has general authority to invest.
--- page 13 ---
15
Save as disclosed above, to the best knowledge of the Company, (i) each of the Cornerstone
Investors (and, for Cornerstone Investor(s) who will subscribe for the Offer Shares through
QDIIs, such QDIIs) is an independent third party; (ii) none of the Cornerstone Investors (and,
for Cornerstone Investor(s) who will subscribe for the Offer Shares through QDIIs, such QDIIs)
is accustomed to take instructions from the Company, the Directors, chief executive of the
Company, the AIC Parties (being the Company ’s single largest shareholder group), substantial
Shareholders or existing Shareholders (other than Guanggu Health and Puhua Kaizhi which are
existing Shareholders or their close associates as described above) or any of its subsidiaries or
their respective close associates in relation to the acquisition, disposal, voting, or other disposition
of H Shares registered in its name or otherwise held by it; and (iii) none of the subscription for
the relevant Offer Shares by the Cornerstone Investors (and, for Cornerstone Investor(s) who
will subscribe for the Offer Shares through QDIIs, such QDIIs) is financed by the Company, the
Directors, chief executive of the Company, the AIC Parties (being the Company ’s single largest
shareholder group), substantial Shareholders or existing Shareholders (other than Guanggu Health
and Puhua Kaizhi which are existing Shareholders or their close associates as described above)
or any of its subsidiaries or their respective close associates for the purpose of subscription of the
Offer Shares.
The Cornerstone Placing will form part of the International Offering and the Cornerstone Investors
will not subscribe for any Offer Shares under the Global Offering (other than pursuant to the
Cornerstone Investment Agreements). The Offer Shares to be subscribed by the Cornerstone
Investors will rank pari passu in all respect with the fully paid H Shares in issue. Other than Puhua
Kaizhi, the Offer Shares to be subscribed by the other Cornerstone Investors will be counted
towards the public float of the Company under Rule 8.08 of the Listing Rules. The Offer Shares
to be subscribed by the Cornerstone Investors will not be counted towards the public float of
the Company for the purpose of Rule 18A.07 of the Listing Rules. Immediately following the
completion of the Global Offering, save for the fact that Puhua Kaizhi is a close associate of Yuan
Qian and Dr. Zhou Hongfeng who are non-executive Directors, none of the Cornerstone Investors
will have any Board representation in the Company. Other than a guaranteed allocation of the
relevant Offer Shares at the Offer Price, the Cornerstone Investors do not have any preferential
rights in the Cornerstone Investment Agreements compared with other public Shareholders.
As confirmed by each of the Cornerstone Investors, its subscription under the Cornerstone Placing
would be financed by its own internal resources. There are no side agreements or arrangements
between the Company and the Cornerstone Investors or any benefit, direct or indirect, conferred
on the Cornerstone Investors by virtue of or in relation to the Cornerstone Placing, other than a
guaranteed allocation of the relevant Offer Shares at the Offer Price.
All of the Cornerstone Investors will pay and settle in full for the relevant Offer Shares that
they have subscribed before dealings in the Offer Shares commence on the Stock Exchange.
There will be no delayed delivery if there is no over-allocation in the International Offering. The
delayed delivery arrangements relate only to the delay in the delivery of the Offer Shares to such
Cornerstone Investor on the condition that the Offer Price for the Offer Shares allocated to such
Cornerstone Investor will be paid no later than two business days before the Listing Date, and thus
there will be no delayed settlement of payment no matter whether there is delayed delivery or not.
--- page 14 ---
16
All the Cornerstone Investors have agreed that the Overall Coordinator may defer the delivery of
all or any part of the Offer Shares they have subscribed for to a date later than the Listing Date.
Such delayed delivery arrangement is in place to facilitate the over-allocation in the International
Offering. There will be no delayed delivery if there is no over-allocation in the International
Offering.
There will not be any deferred settlement in payment by any of the Cornerstone Investors. All of
the Cornerstone Investors have agreed that they shall pay for the relevant Offer Shares no later
than two business days before the Listing Date.
Each of the Cornerstone Investors has agreed that it will not, whether directly or indirectly, at any
time during the period of six months from and including the Listing Date (the “Lock-up Period ”),
dispose of any of the Offer Shares they have purchased pursuant to the relevant Cornerstone
Investment Agreements, save for certain limited circumstances, such as transfers to any of its
wholly-owned subsidiaries, or any affiliated fund under common management or control with the
relevant Cornerstone Investor, who will be bound by the same obligations of such Cornerstone
Investor, including the Lock-up Period restriction.
Please refer to the section headed “Cornerstone Investors ” in the Prospectus for further details of
the Cornerstone Investor.
CONFIRMATIONS OF PUBLIC SHAREHOLDERS IN THE HONG KONG PUBLIC
OFFERING AND PLACEES IN THE INTERNATIONAL OFFERING
To the best knowledge, information and belief of the Directors, save as disclosed in the section
headed “International Offering – Cornerstone Investors ” in this announcement, no Offer
Shares placed by or through the Overall Coordinator, the Joint Global Coordinators, the Joint
Bookrunners, the Joint Lead Managers or the Underwriters under the Global Offering have been
placed to applicants who are core connected persons of the Company, or connected clients (as
set out in paragraph 5(1) of the Placing Guidelines), or persons set out in paragraph 5(2) of the
Placing Guidelines, whether in their own names or through nominees. The International Offering is
in compliance with the Placing Guidelines.
--- page 15 ---
17
The Directors confirm that, to the best of their knowledge, information and belief, save as
Guanggu Health (an existing Shareholder) and Puhua Kaizhi (a close associate of Yuan Qian and
Dr. Zhou Hongfeng, being the Company ’s existing Shareholders and non-executive Directors,
and thus a core connected person of the Company), (i) none of the Offer Shares subscribed by
public Shareholders in the Hong Kong Public Offering and placees in the International Offering
has been financed directly or indirectly by the Company, its Directors, chief executive, substantial
Shareholders, existing Shareholders or any of their subsidiaries or their respective close associates;
(ii) no rebate has been, directly or indirectly, provided by the Company, its Directors, chief
executive, substantial Shareholders, existing Shareholders or any of their subsidiaries or their
respective close associates or syndicate members or any other brokers to any public Shareholders
in the Hong Kong Public Offering or placees in the International Offering; (iii) none of the
public Shareholders in the Hong Kong Public Offering and placees in the International Offering
who has subscribed for the Offer Shares is accustomed to taking instructions from the Company,
its Directors, chief executive, substantial Shareholders, existing Shareholders or any of their
subsidiaries or their respective close associates in relation to the acquisition, disposal, voting or
other disposition of the H Shares registered in his/her/its name or otherwise held by him/her/it;
(iv) the consideration payable by the public Shareholders in the Hong Kong Public Offering and
placees in the International Offering for each Offer Share subscribed for or purchased by them is
the same as the Offer Price, in addition to brokerage of 1.0%, SFC transaction levy of 0.0027%,
AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%; and (v) there is
no side agreement or arrangement between the Company, its Directors, chief executive, substantial
Shareholders, existing Shareholders or any of their subsidiaries or their respective close associates
or syndicate members or any other brokers, on one hand, and the public Shareholders or the
placees who have subscribed for the Offer Shares, on the other hand.
The Directors confirm that, to the best of their knowledge, information and belief, none of the
placees under the International Offering will be placed more than 10% of the enlarged issued
share capital of the Company immediately following the completion of the Global Offering.
Accordingly, the Directors confirm that none of the placees will become a substantial Shareholder
of the Company immediately following the completion of the International Offering, and there will
not be any new substantial Shareholder of the Company immediately following the completion of
the Global Offering.
OVER-ALLOTMENT OPTION
In connection with the Global Offering, the Company has granted the Over-allotment Option to the
International Underwriters, exercisable by the Overall Coordinator (for themselves and on behalf
of the International Underwriters), at any time from the Listing Date to Wednesday, October 18,
2023, being the 30th day after the last day for lodging applications under the Hong Kong Public
Offering, to require the Company to issue and allot up to an aggregate of 1,650,000 additional
Offer Shares, representing not more than approximately 15.0% of the total number of Offer Shares
initially available under the Global Offering, at the Offer Price to cover the over-allocations in the
International Offering.
There has been an over-allocation of 1,650,000 Offer Shares in the International Offering. Such
over-allocation may be covered by exercising the Over-allotment Option in part or by making
purchases in the secondary market or a combination of these means. In the event the Over-
allotment Option is exercised, an announcement will be made on the Stock Exchange ’s website
at www.hkexnews.hk and the Company ’s website at www.yzybio.com . As of the date of this
announcement, the Over-allotment Option has not been exercised.
--- page 16 ---
18
LOCK-UP UNDERTAKINGS
Each of the Company, the Single Largest Group of Shareholders, the Cornerstone Investors and
other existing Shareholders has given certain lock-up undertakings in relation to the issue and
disposal of Shares (the “Lock-up Undertakings ”). The major terms of the Lock-up Undertakings
are set out as follows:
Name
Number of
Shares subject
to the Lock-up
Undertakings
upon Listing
Approximate
percentage of
shareholding in
the Company
subject to
the Lock-up
Undertakings
upon Listing (3)
Last day subject to the
Lock-up Undertakings
The Company
(subject to lock-up obligations pursuant to the Listing Rules and the Hong Kong Underwriting Agreement)
N/A N/A March 24, 2024 (1)
Existing Shareholders
The Single Largest Group of Shareholders
(subject to Lock-up Obligations pursuant to the Listing Rules, the Hong Kong Underwriting Agreement and
applicable PRC laws and regulations)
Yuan Qian 20,399,933 10.57% September 24, 2024 (2)
Dr. Zhou Hongfeng 10,199,921 5.28% September 24, 2024 (2)
Dr. Zhou Pengfei 6,869,744 3.56% September 24, 2024 (2)
Wuhan Caizhi 16,792,707 8.70% September 24, 2024 (2)
Other existing Shareholders (4)
(subject to lock-up obligations pursuant to applicable PRC laws and regulations)
127,737,695 66.18% September 24, 2024 (2)
Cornerstone Investors
(subject to lock-up obligations pursuant to the Cornerstone Investment Agreements)
Guanggu Health 2,686,000 1.39% March 24, 2024 (2)
Chuxing Yourui 2,485,200 1.29% March 24, 2024 (2)
Puhua Kaizhi 1,342,600 0.70% March 24, 2024 (2)
Notes:
(1) The Company may not allot or issue Shares prior to the indicated date except otherwise permitted by the Listing
Rules and the Stock Exchange.
(2) The Shareholder(s) and Cornerstone Investor(s) may dispose of or transfer Shares without any lock-up
obligation after the indicated date.
(3) Assuming the Over-allotment Option is not exercised.
(4) For identities and details of other existing Shareholders, see the section headed “History, Development and
Corporate Structure ” in the Prospectus.
--- page 17 ---
19
BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the section headed “Structure of the Global
Offering – Conditions of the Global Offering ” in the Prospectus, 8,990 valid applications made
by the public through the White Form eIPO service and the CCASS EIPO service will be
conditionally allocated on the basis set out below:
POOL A
NO. OF SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED OF
THE TOTAL
NO. OF SHARES
APPLIED FOR
200 4,901 882 out of 4,901 to receive 200 H Shares 18.00%
400 1,368 278 out of 1,368 to receive 200 H Shares 10.16%
600 215 47 out of 215 to receive 200 H Shares 7.29%
800 119 28 out of 119 to receive 200 H Shares 5.88%
1,000 291 85 out of 291 to receive 200 H Shares 5.84%
1,200 53 18 out of 53 to receive 200 H Shares 5.66%
1,400 57 22 out of 57 to receive 200 H Shares 5.51%
1,600 39 16 out of 39 to receive 200 H Shares 5.13%
1,800 29 12 out of 29 to receive 200 H Shares 4.60%
2,000 1,410 592 out of 1,410 to receive 200 H Shares 4.20%
3,000 91 55 out of 91 to receive 200 H Shares 4.03%
4,000 83 63 out of 83 to receive 200 H Shares 3.80%
5,000 37 33 out of 37 to receive 200 H Shares 3.57%
6,000 10 200 H Shares 3.33%
7,000 7 200 H Shares plus 1 out of 7 to receive additional 200 H Shares 3.27%
8,000 22 200 H Shares plus 4 out of 22 to receive additional 200 H Shares 2.95%
9,000 121 200 H Shares plus 34 out of 121 to receive additional 200 H Shares 2.85%
10,000 42 200 H Shares plus 17 out of 42 to receive additional 200 H Shares 2.81%
15,000 16 400 H Shares plus 1 out of 16 to receive additional 200 H Shares 2.75%
20,000 18 400 H Shares plus 13 out of 18 to receive additional 200 H Shares 2.72%
25,000 7 600 H Shares plus 2 out of 7 to receive additional 200 H Shares 2.63%
30,000 7 600 H Shares plus 6 out of 7 to receive additional 200 H Shares 2.57%
35,000 1 800 H Shares 2.29%
40,000 3 800 H Shares plus 1 out of 3 to receive additional 200 H Shares 2.17%
50,000 5 1,000 H Shares 2.00%
60,000 10 1,000 H Shares plus 7 out of 10 to receive additional 200 H Shares 1.90%
70,000 3 1,200 H Shares plus 1 out of 3 to receive additional 200 H Shares 1.81%
80,000 2 1,400 H Shares 1.75%
90,000 2 1,400 H Shares plus 1 out of 2 to receive additional 200 H Shares 1.67%
100,000 6 1,600 H Shares 1.60%
150,000 1 2,200 H Shares 1.47%
250,000 2 2,400 H Shares 0.96%
8,978 Total number of Pool A successful applicants: 2,416
--- page 18 ---
20
POOL B
NO. OF SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED OF
THE TOTAL
NO. OF SHARES
APPLIED FOR
300,000 11 44,600 H Shares 14.87%
400,000 1 59,400 H Shares 14.85%
12 Total number of Pool B successful applicants: 12
The final number of Hong Kong Offer Shares under the Hong Kong Public Offering is 1,100,200
Offer Shares, representing approximately 10% of the total number of Offer Shares initially
available under the Global Offering (before any exercise of the Over-allotment Option).
RESULTS OF ALLOCATIONS
Results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering,
including the Offer Price, the level of indications of interest in the International Offering, the
level of applications in the Hong Kong Public Offering and the basis of allocation of the Hong
Kong Offer Shares will be published on Friday, September 22, 2023 on the websites of the Stock
Exchange at www.hkexnews.hk and the Company at www.yzybio.com .
The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
successfully applied for through the White Form eIPO service or through the CCASS EIPO
service, including the Hong Kong identity card numbers, passport numbers, Hong Kong business
registration numbers or certificate of incorporation numbers of successful applicants (where
applicable) and the number of Hong Kong Offer Shares successfully applied for, will be made
available at the times and dates and in the manner specified below:
• in the announcement to be posted on the Company ’s website at www.yzybio.com and the
Stock Exchange ’s website at www.hkexnews.hk by no later than 9:00 a.m. on Friday,
September 22, 2023. Please note that the list of identification document numbers set out in
this announcement may not be a complete list of successful applicants since only successful
applicants whose identification document numbers are provided to HKSCC by CCASS
Participants or via the White Form eIPO service are disclosed. Applicants with beneficial
names only but not identification document numbers are not disclosed due to personal
privacy issue as elaborated below. Applicants who applied for the Hong Kong Offer Shares
through their brokers or nominees can consult their brokers or nominees to enquire about
their application results;
• from the designated results of allocations website at www.iporesults.com.hk (alternatively:
English https://www.eipo.com.hk/en/Allotment; Chinese https://www.eipo.com.hk/zh-hk/Allotment)
with a “search by ID ” function on a 24-hour basis from 8:00 a.m. on Friday, September 22,
2023 to 12:00 midnight on Thursday, September 28, 2023; and
• from the allocation results telephone enquiry by calling +852 2862 8555 between 9:00 a.m.
and 6:00 p.m. on Friday, September 22, 2023, Monday, September 25, 2023, Tuesday,
September 26, 2023 and Wednesday, September 27, 2023.
--- page 19 ---
21
This announcement contains a list of identification document numbers. Identification document
numbers shown in the section headed “Results of Applications Made by White Form eIPO ” in this
announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong business
registration numbers/certificate of incorporation numbers/beneficial owner identification codes (if
such applications are made by nominees as agent for the benefit of another person), whereas those
displayed in the section headed “Results of Applications Made by Giving Electronic Application
Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS Participants
via CCASS. Therefore, the identification document numbers shown in the two sections are
different in nature.
Since applications are subject to personal information collection statements, beneficial owner
identification codes displayed in the sections headed “Results of Applications Made by White
Form eIPO ” and “Results of Applications Made by Giving Electronic Application Instructions
to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
announcement.
--- page 20 ---
22
SHAREHOLDING CONCENTRATION ANALYSIS
A summary of allotment results under the Global Offering is set out below:
• Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
Placees Subscription
Number of H
Shares held
upon Listing
Number of
Shares held
upon Listing
Subscription
as % of
International
Offering
(assuming no
exercise of the
Over-allotment
Option)
Subscription
as % of
International
Offering
(assuming full
exercise of
Over-allotment
Option)
Subscription
as % of total
Offer Shares
(assuming no
exercise of the
Over-allotment
Option)
Subscription as
% of total
Offer Shares
(assuming full
exercise of
Over-allotment
Option)
% of total H
share capital
upon Listing
(assuming no
exercise of the
Over-allotment
Option)
% of total H
share capital
upon Listing
(assuming full
exercise of
Over-allotment
Option)
% of total issued
share capital
upon Listing
(assuming no
exercise of the
Over-allotment
Option)
% of total issued
share capital
upon Listing
(assuming full
exercise of
Over-allotment
Option)
Top 1 3,359,800 3,359,800 3,359,800 33.93% 29.09% 30.54% 26.56% 3.04% 2.99% 1.74% 1.73%
Top 5 10,913,400 10,913,400 16,513,400 110.23% 94.48% 99.20% 86.26% 9.87% 9.72% 8.56% 8.48%
Top 10 11,391,000 11,391,000 16,991,000 115.05% 98.61% 103.54% 90.04% 10.30% 10.15% 8.80% 8.73%
Top 20 11,531,400 11,531,400 17,131,400 116.47% 99.83% 104.82% 91.15% 10.42% 10.27% 8.88% 8.80%
Top 25 11,532,400 11,532,400 17,132,400 116.48% 99.84% 104.83% 91.16% 10.43% 10.27% 8.88% 8.80%
--- page 21 ---
23
• Top 1, 5, 10, 20 and 25 Shareholders of the Company upon Listing:
Shareholders
Subscription
of Hong Kong
Offer Shares
Subscription of
International
Offer Shares
Subscription
of Total Offer
Shares
Number of H
Shares held
upon Listing
Number of
Shares held
upon Listing
Subscription
as % of Hong
Kong Public
Offering
Subscription
as % of
International
Offering
(assuming
no exercise
of the Over-
allotment
Option)
Subscription
as % of
International
Offering
(assuming
full exercise
of Over-
allotment
Option)
Subscription
as % of total
Offer Shares
(assuming
no exercise
of the Over-
allotment
Option)
Subscription
as % of total
Offer Shares
(assuming
full exercise
of Over-
allotment
Option)
% of total H
share capital
upon Listing
(assuming
no exercise
of the Over-
allotment
Option)
% of total H
share capital
upon Listing
(assuming
full exercise
of Over-
allotment
Option)
% of total
issued share
capital upon
Listing
(assuming
no exercise
of the Over-
allotment
Option)
% of total
issued share
capital upon
Listing
(assuming
full exercise
of Over-
allotment
Option)
Top 1 – – – – 54,262,305 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28.12% 27.88%
Top 5 – 2,686,000 2,686,000 71,560,960 150,692,510 0.00% 27.13% 23.25% 24.42% 21.23% 64.69% 63.74% 78.08% 77.42%
Top 10 – 8,531,000 8,531,000 100,148,018 179,279,568 0.00% 86.16% 73.86% 77.55% 67.43% 90.53% 89.20% 92.89% 92.10%
Top 20 – 10,913,400 10,913,400 110,533,014 192,543,313 0.00% 110.23% 94.48% 99.20% 86.26% 99.92% 98.45% 99.76% 98.92%
Top 25 104,000 11,306,000 11,410,000 111,029,614 193,410,000 9.45% 114.19% 97.88% 103.72% 90.19% 100.37% 98.89% 100.21% 99.36%
--- page 22 ---
24
• Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company (the “H Shareholders ”) upon Listing:
H Shareholders
Subscription
of Hong Kong
Offer Shares
Subscription of
International
Offer Shares
Subscription
of Total Offer
Shares
Number of H
Shares held
upon Listing
Number of
Shares held
upon Listing
Subscription
as % of Hong
Kong Public
Offering
Subscription
as % of
International
Offering
(assuming
no exercise
of the Over-
allotment
Option)
Subscription
as % of
International
Offering
(assuming
full exercise
of Over-
allotment
Option)
Subscription
as % of total
Offer Shares
(assuming
no exercise
of the Over-
allotment
Option)
Subscription
as % of total
Offer Shares
(assuming
full exercise
of Over-
allotment
Option)
% of total H
share capital
upon Listing
(assuming
no exercise
of the Over-
allotment
Option)
% of total H
share capital
upon Listing
(assuming
full exercise
of Over-
allotment
Option)
% of total
issued share
capital upon
Listing
(assuming
no exercise
of the Over-
allotment
Option)
% of total
issued share
capital upon
Listing
(assuming
full exercise
of Over-
allotment
Option)
Top 1 – – – 51,241,785 51,241,785 0.00% 0.00% 0.00% 0.00% 0.00% 46.32% 45.64% 26.55% 26.32%
Top 5 – – – 85,806,813 90,865,852 0.00% 0.00% 0.00% 0.00% 0.00% 77.57% 76.43% 47.08% 46.68%
Top 10 – 8,531,000 8,531,000 102,067,184 126,936,429 0.00% 86.16% 73.86% 77.55% 67.43% 92.27% 90.91% 65.77% 65.21%
Top 20 59,400 11,306,000 11,365,400 110,985,014 135,854,259 5.40% 114.19% 97.88% 103.31% 89.84% 100.33% 98.85% 70.39% 69.79%
Top 25 282,400 11,306,000 11,588,400 111,208,014 136,077,259 25.67% 114.19% 97.88% 105.34% 91.60% 100.53% 99.05% 70.51% 69.91%
In view of the high concentration of shareholding in a small number of H Shareholders, Shareholders and prospective investors
should be aware that the price of the H Shares could move substantially even with a small number of Shares traded, and should
exercise extreme caution when dealing in H Shares.
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