hk-ipo/data/extracted_text/01333/allotment_results_2025-05-06_2025050602875.txt

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Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the ‘‘ Stock
Exchange ’’) and Hong Kong Securities Clearing Company Limited (‘‘ HKSCC ’’) take no responsibility for
the contents of this announcement, make no representation as to its accuracy or completeness and expressly
disclaim any 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 prospectus dated April 25, 2025 (the ‘‘ Prospectus ’’) issued by Breton Technology Co.,
Ltd.
(博雷頓科技股份公司)(the ‘‘Company ’’).
This announcement is for information purposes only and does not constitute an invitation or offer to acquire,
purchase or subscribe for securities. Potential investors should read the Prospectus for detailed information
about the Company and 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 in the Prospectus.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be
any sale of Offer Shares in any jurisdiction in which such offer, solicitation or sales would be unlawful. 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) or any
other jurisdiction where such release, publication or distribution is prohibited by law. This announcement does
not constitute or form a part of any offer to sell or solicitation to purchase or subscribe for securities in the
United States or in any other jurisdiction. 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 any state
securities law in the United States and may not be offered, sold, pledged or transferred within the United
States or to, or for the account or benefit of U.S. persons (as defined in Regulation S), except pursuant to an
exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act.
The Offer Shares may be offered, sold or delivered outside the United States in offshore transactions in
reliance on Regulation S.
In connection with the Global Offering, China International Capital Corporation Hong Kong Securities
Limited, as the stabilizing manager, or any person acting for it (the ‘‘ Stabilizing Manager ’’), on behalf of the
Underwriters, may over-allocate or effect transactions with a view to stabilizing or supporting the market
price of the H Shares 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 Stabilizing Manager, or any person acting for it, to
conduct any such stabilizing action, which, if taken, will be conducte d at the absolute discretion of the
Stabilizing Manager and may be discontinued at any ti me. Any such stabilizing activity is required to be
brought to an end on the 30th day after the last day for lodging applications under the Hong Kong Public
Offering. Such stabilization action, if taken, may be effe cted 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 Sta bilizing) Rules (Chapter 571W of t he Laws of Hong Kong), as amended,
made under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
The Overall Coordinators confirm that there has been no over-allocation of the H Shares under the
International Offering, therefore, there will not be any delayed delivery arrangement and the Over-allotment
Option will not be exercised. In view of the fact that there has been no over-allocation of the H Shares under
the International Offering, no stabilizing action as described in the Prospectus will be taken during the
stabilization period.
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 in their sole discretion 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 — Hong Kong Underwriting Arrangements — Hong Kong Public
Offering — Grounds for Termination’’ in the Prospec tus at any time prior to 8 : 00 a.m. (Hong Kong time) on
the Listing Date.
–1–


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Breton Technology Co., Ltd.
博 雷 頓 科 技 股 份 公 司
(A joint stock company established in the Peop le’s Republic of China with limited liability)
Global Offering
Number of Offer Shares under
the Global Offering
: 13,000,000 H Shares
Number of Hong Kong Offer Shares : 2,600,000 H Shares (as adjusted after
reallocation)
Number of International Offer Shares : 10,400,000 H Shares (as adjusted after
reallocation)
Offer Price : HK$18.0 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% (payable in full on
application in Hong Kong dollars and
subject to refund)
Nominal value : RMB1.00 per H Share
Stock code : 1333
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 Bookrunners and Joint Lead Managers Joint Lead Manager
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BRETON TECHNOLOGY CO., LTD./ 博雷頓科技股份公司
ANNOUNCEMENT OF ALLOTMENT RESULTS
Warning: In view of high concentratio n of shareholding in a small number of H
Shareholders, H Shareholders and prospec tive investors should be aware that the price of
the H Shares could move substantially eve n with a small number of H Shares traded and
should exercise extreme cautio n when dealing in the H Shares.
SUMMARY
Company Information
Stock code 1333
Stock short name BRETON
Dealings commencement date May 7, 2025*
* see note at the end of the announcement
Price Information
Final Offer Price HK$18.0
Offer Price Adjustment exercised N/A
Offer Shares and Share Capital
Number of Offer Shares 13,000,000
Number of Offer Shares in Hong Kong
Public Offering (after reallocation)
2,600,000
Number of Offer Shares in International Offering
(after reallocation)
10,400,000
Number of issued Shares upon Listing 379,651,762
Over-allocation
No. of Offer Shares over-allocated 0
Proceeds
Gross proceeds (Note) HK$234.0 million
Less: Estimated listing expenses payable based on
Final Offer Price
HK$(86.2) million
Net proceeds HK$147.8 million
Note: Gross proceeds refers to the amount 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.
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ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING
No. of valid applications 30,638
No. of successful applications 4,937
Subscription level 198.72 times
Claw-back triggered No
No. of Offer Shares initially available under the Hong
Kong Public Offering
1,300,000
No. of Offer Shares reallocated from the International
Offering
1,300,000
Final no. of Offer Shares under the Hong Kong Public
Offering (after reallocation)
2,600,000
% of Offer Shares under the Hong Kong Public
Offering to the Global Offering
20%
Note: For details of the final allocation of Shares to the Hong Kong Public Offering, investors can refer to
https://www.hkeipo.hk/iporesult to perform a search by identification number or
https://www.hkeipo.hk/iporesult for the full list of allottees.
INTERNATIONAL OFFERING
No. of placees 108
Subscription Level 0.92 times
No. of Offer Shares initially available under the
International Offering
11,700,000
No. of Offer Shares reallocated to the Hong Kong
Public Offering
1,300,000
Final no. of Offer Shares under the International
Offering (after reallocation)
10,400,000
% of Offer Shares under the International Offering to
the Global Offering
80%
The Directors confirm that, to the best of th eir knowledge, information and belief, (i) none
of the Offer Shares subscribed by the plac ees and the public have been financed directly or
indirectly by the Company, any of the Directo rs, Supervisors, chief executive of the
Company, Controlling Shareholders, substant ial Shareholders, existing Shareholders 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 ac customed to taking instructions from the
Company, any of the Directors , Supervisors, chief executi ve of the Company, Controlling
Shareholders, substantial Shareholders, exis ting Shareholders 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 his/he r/its name or otherwise held by him/her/it.
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The placees in the International O ffering include the following:
Cornerstone Investors
Investor
No. of Offer Shares
allocated % of Offer Shares
%o ft o t a li s s u e d
share capital after
the Global Offering
Existing
shareholders
or their close
associates
Hong Kong Xinwei Electronic Co.,
Limited/ 香港欣威電子有限公司
2,117,400 16.29% 0.56% No
Changfeng Growth Equity Fund
OFC/ 長風成長股票開放式基金型公司
1,388,800 10.68% 0.37% No
Total 3,506,200 26.97% 0.92%
LOCK-UP UNDERTAKINGS
Controlling Shareholders
Name
Number of Shares
held in the
Company subject to
lock-up
undertakings
upon Listing
HS h a r e sa sa%o f
total issued
H Shares after the
Global Offering
subject to lock-up
undertakings upon
Listing
%o fs h a r e h o l d i n g
in the Company
subject to lock-up
undertakings upon
Listing
Last day subject to
the lock-up
undertakings (1)(2)
Chen Fangming/
陳方明 (‘‘Mr. Chen ’’)
(3)(4)
31,101,004
(including
15,550,502
H Shares and
15,550,502
Unlisted Shares)
6.45% 8.19% May 6, 2026
Shanghai Fangao Business
Consulting Partnership (Limited
Partnership)/ 上海方翱商務諮詢合夥
企業（有限合夥）(‘‘Shanghai
Fangao ’’)(3)(4)
84,502,397
(including
42,251,199
H Shares and
42,251,198
Unlisted Shares)
17.51% 22.26% May 6, 2026
Shanghai Cloud Tribe Yijin Venture
Capital Center (Limited
Partnership)/ 上海雲部落易津創業投
資中心（有限合夥）(‘‘Cloud Tribe
Yijin ’’)(3)(4)
2,370,189
(including
2,370,189
H Shares)
0.98% 0.62% May 6, 2026
Total 117,973,590
(including
60,171,890
H Shares and
57,801,700
Unlisted Shares)
24.94% 31.07%
Notes:
1. In accordance with the relevant Listing Rules and guidance materials, the required lock-up for the first
six month period ends on November 6, 2025. The Cont rolling Shareholder may dispose of or transfer
Shares after the indicated date provided that t he Controlling Shareholder will not cease to be a
Controlling Shareholder, subject to compliance with applicable re quirements under the PRC Company
Law.
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2. In accordance with the relevant Listing Rules and guidance materials, the required lock-up for the
second six-month period ends on M ay 6, 2026. The Controlling Shareholder will cease to be prohibited
from disposing of or transferring Shares after the indicated date, subject to compliance with applicable
requirements under the PRC Company Law.
3. Shanghai Fangao is controlled by Mr. Chen as its general partner. As of the date of this
announcement, the general partner of Cloud Tribe Yijin was Cloud Tribe Management, which was held
as to 51% by Shanghai Yijin and 49% by Yijin Ventur e Capital Management, and the limited partners
of Cloud Tribe Yijin were Shanghai Yijin Caiqingzi Ven ture Capital Center (Limited Partnership)
(
上海易津財慶子創業投資中心（有限合夥）), an entity ultimately controlled by Mr. Chen, and
Shanghai Minhang District Innovation Venture Capital Guiding Fund Management Center (Shanghai
Minhang District Finance Service Center) (
上海市閔行區創新創業投資引導基金管理中心（上海市閔
行區金融服務中心）), an Independent Third Party. Yijin Vent ure Capital Management was held as to
approximately 51.76% by Shangha i Yijin. Shanghai Yijin was held as to approximately 19.49% by
Mr. Chen and approximately 80.51% by Shanghai Yijin Management, whos e general partner and
limited partner were Mr. Chen (holding 98.91% partnership interest) and one of the founding
partners of Shanghai Fangao at the early stage of establishment (holding 1.09% partnership interest),
respectively. For further details, see the sectio n headed ‘‘Relationship with our Controlling
Shareholders’’ in the Prospectus.
4. Upon completion of the Global Offering, Mr. Ch en will, by himself and th rough Shanghai Fangao and
Cloud Tribe Yijin, control approximately 31.07% of the aggregate voting power of the Company’s
enlarged share capital. Therefore, upon completion of the Global Offering, Mr. Chen, Shanghai
Fangao, Cloud Tribe Yijin, Cloud Tribe Manage ment, Shanghai Yijin, Yijin Venture Capital
Management, and Shanghai Y ijin Management will constitute a group of our Controlling
Shareholders.
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Principal Pre-IPO Investors (as set out in the Prospectus)
Name
Number of Shares
held in the
Company subject to
lock-up
undertakings
upon Listing
HS h a r e sa sa%o f
total issued
H Shares after the
Global Offering
subject to lock-up
undertakings upon
Listing
%o fs h a r e h o l d i n g
in the Company
subject to lock-up
undertakings upon
Listing
Last day subject to
the lock-up
undertakings (2)
Fujian Diquan Equity Investment
Partnership (Limited Partnership)/
福建省締泉股權投資合夥企業（有限
合夥）(‘‘Fujian Diquan ’’)
(3)
7,934,981
(including
7,934,981
H Shares)
3.29% 2.09% May 6, 2026
Zibo Naying Equity Investment
Partnership (Limited Partnership)/
淄博納贏股權投資合夥企業（有限
合夥）(‘‘Zibo Naying ’’)
(3)
8,519,491
(including
8,519,491
H Shares)
3.53% 2.24% May 6, 2026
J i a x i n gT o n g n e n gX i n g y u a nE q u i t y
Investment Partnership (Limited
Partnership)/ 嘉興同能興源股權投資
合夥企業（有限合夥）(‘‘Jiaxing
Tongneng ’’)
(3)
4,590,953
(including
4,590,953
H Shares)
1.90% 1.21% May 6, 2026
Jiaxing Dixin Equity Investment
Partnership (Limited Partnership)/
嘉興市締芯股權投資合夥企業（有限
合夥）(‘‘Jiaxing Dixin ’’)
(3)
4,122,068
(including
4,122,068
H Shares)
1.71% 1.09% May 6, 2026
Xiao Wenbin/ 肖文斌(3) 3,091,551
(including
3,091,551
H Shares)
1.28% 0.81% May 6, 2026
Suzhou Zhongding No. 5 Equity
Investment Fund Partnership
(Limited Partnership)/ 蘇州鐘鼎五號
股權投資基金合夥企業（有限合夥）
(‘‘Zhongding No.5 ’’)(4)
23,420,841
(including
23,420,841
H Shares)
9.71% 6.17% May 6, 2026
Suzhou Zhongding No. 5 Qinglan
Equity Investment Fund Partnership
(Limited Partnership)/ 蘇州鐘鼎五號
青藍股權投資基金合夥企業（有限
合夥）(‘‘Zhongding Qinglan ’’)
(4)
2,342,085
(including
2,342,085
H Shares)
0.97% 0.62% May 6, 2026
Hunan Xiangtan Caixin Chanxing
Equity Investment Partnership
(Limited Partnership)/ 湖南湘潭財信
產興股權投資合夥企業（有限合夥）
20,959,674
(including
7,335,886
H Shares and
13,623,788
Unlisted Shares)
3.04% 5.52% May 6, 2026
Hubei Changjiang Automobile
Valley Industry Investment Fund
Partnership (Limited Partnership)/
湖北長江車谷產業投資基金合夥企業
（有限合夥）
20,959,674
(including
10,479,837
H Shares and
10,479,837
Unlisted Shares)
4.34% 5.52% May 6, 2026
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Name
Number of Shares
held in the
Company subject to
lock-up
undertakings
upon Listing
HS h a r e sa sa%o f
total issued
H Shares after the
Global Offering
subject to lock-up
undertakings upon
Listing
%o fs h a r e h o l d i n g
in the Company
subject to lock-up
undertakings upon
Listing
Last day subject to
the lock-up
undertakings (2)
Huzhou Qingyun Xinzhengtu Equity
Investment Partnership (Limited
Partnership)/ 湖州青雲新征途股權投
資合夥企業（有限合夥）
19,373,720
(including
19,373,720
H Shares)
8.03% 5.10% May 6, 2026
Jinhua Boleidun Talent Equity
Investment Partnership (Limited
Partnership)/ 金華市博雷頓人才股權
投資合夥企業（有限合夥）
13,973,116
(including
13,973,116
Unlisted Shares)
N/A 3.68% May 6, 2026
Changzhou Kesheng Venture
Capital Center (Limited
Partnership)/ 常州科升創業投資中心
（有限合夥）
6,260,391
(including
6,260,391
H Shares)
2.60% 1.65% May 6, 2026
Shandong Province New and Old
Kinetic Energy Conversion
Cross-Border Venture Capital FOF
Fund Partnership (L.P.)/ 山東省新舊
動能轉換跨境創投母基金合夥企
業
（有限合夥）
5,239,918
(including
1,833,971
H Shares and
3,405,947
Unlisted Shares)
0.76% 1.38% May 6, 2026
Guangzhou Naibixin Phase I
Venture Capital Fund Partnership
(Limited Partnership)/ 廣州耐必信一
期創業投資基金合夥企業（有限合夥）
4,946,482
(including
4,946,482
H Shares)
2.05% 1.30% May 6, 2026
Zhongshan Broad-Ocean Motor
Co. Ltd/ 中山大洋電機股份有限公司
4,760,989
(including
1,666,346
H Shares and
3,094,643
Unlisted Shares)
0.69% 1.25% May 6, 2026
Hefei Rendun Equity Investment
Partnership (Limited Partnership)/
合肥仁頓股權投資合夥企業（有限
合夥）
4,706,860
(including
4,706,860
Unlisted Shares)
N/A 1.24% May 6, 2026
Rockets Capital L.P. 4,319,664
(including
4,319,664
H Shares)
1.79% 1.14% May 6, 2026
Cai Yulin/ 蔡玉霖 11,129,584
(including
11,129,584
H Shares)
4.61% 2.93% May 6, 2026
Lin Ziting/ 林姿廷 10,305,170
(including
1,030,517
H Shares and
9,274,653
Unlisted Shares)
0.43% 2.71% May 6, 2026
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Name
Number of Shares
held in the
Company subject to
lock-up
undertakings
upon Listing
HS h a r e sa sa%o f
total issued
H Shares after the
Global Offering
subject to lock-up
undertakings upon
Listing
%o fs h a r e h o l d i n g
in the Company
subject to lock-up
undertakings upon
Listing
Last day subject to
the lock-up
undertakings (2)
Yang Zibin/ 楊子彬 6,183,102
(including
1,854,931
H Shares and
4,328,171
Unlisted Shares)
0.77% 1.63% May 6, 2026
Zhao Yongge/ 趙永革(5) 6,183,102
(including
6,183,102
H Shares)
2.56% 1.63% May 6, 2026
Yang Jiayong/ 楊家勇(5) 5,358,689
(including
5,358,689
H Shares)
2.22% 1.41% May 6, 2026
Total 198,682,105
(including
135,795,090
H Shares and
62,887,015
Unlisted Shares)
56.28% 52.32%
Notes:
1. Please refer to the section headed ‘‘History, D evelopment and Corporate Structure — Pre-IPO
Investments — (c) Information about Pre-IPO Investors’’ in the Prospectus for details of the
principal Pre-IPO Investors.
2. The expiry date of the lock-up period shown in the table above is pursuant to the applicable PRC laws
and regulations.
3. All of Jiaxing Dixin, Fujian Diquan, Jiaxing Tongneng and Zibo Naying are limited partnerships
established in the PRC and ultimately controlled by Shanghai Zhongdi Investment Co., Ltd., which in
turn is owned as to 39%, 38% and 23% by Li Tongzuan (
李統鉆), Shanghai Junhuai Investment
Management Group Co., Ltd. and Xiao Wenbin ( 肖文斌), respectively. Li Tongzuan is an
Independent Third Party. Shanghai Junhuai Investment Management Group Co., Ltd. is held as to
61.80% by Zhang Huixian (
張輝賢), father of Zhang Shanliang (a former Shareholder). Xiao
Wenbin is an existing Shareholder. The sole limited partner of Fujian Diquan is Zhang Shanliang, a
former Shareholder, who holds 99.00% partnership interest in Fujian Diquan. Zibo Naying has ten
limited partners, among which Zhang Shanliang, Li Xiaoxiao (two former Shareholders) and Xingyue
Puyu (an existing Shareholder) holds 46.18%, 4.30% and 6.46% partnership interest in Zibo Naying,
respectively.
4. Both of Zhongding No.5 and Zhongding Qinglan are limited partnerships established in the PRC and
ultimately controlled by Yan Li.
5. Zhao Yongge and Yang Jiayong are the spouse of one another.
–9–


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Existing Shareholders (other than the Controll ing Shareholders and the principal Pre-IPO
Investors as set out in the Prospectus)
Name
Number of Shares
held in the
Company subject to
lock-up
undertakings
upon Listing
HS h a r e sa sa%o f
total issued
H Shares after the
Global Offering
subject to lock-up
undertakings upon
Listing
%o fs h a r e h o l d i n g
in the Company
subject to lock-up
undertakings upon
Listing
Last day subject to
the lock-up
undertakings (1)
Shanghai Jifang Business Consulting
Partnership (Limited Partnership)/
上海驥方商務諮詢合夥企業（有限
合夥）
14,942,497
(including
7,471,249
H Shares and
7,471,248
Unlisted Shares)
3.10% 3.94% May 6, 2026
J i a x i n gX u y i n gE q u i t yI n v e s t m e n t
Partnership (Limited Partnership)/
嘉興序盈股權投資合夥企業（有限
合夥）
3,423,413
(including
1,711,707
H Shares and
1,711,706
Unlisted Shares)
0.71% 0.90% May 6, 2026
Qiu Debo/ 邱德波 3,091,551
(including
3,091,551
H Shares)
1.28% 0.81% May 6, 2026
Zhang Xiaohui/ 張曉暉 2,679,344
(including 937,770
H Shares and
1,741,574
Unlisted Shares)
0.39% 0.71% May 6, 2026
Yang Hui/ 楊慧 2,576,293
(including
2,576,293
H Shares)
1.07% 0.68% May 6, 2026
Chai Guang/ 柴廣 2,370,189
(including
2,370,189
H Shares)
0.98% 0.62% May 6, 2026
Yue Yong/ 岳永 2,355,049
(including 824,267
H Shares and
1,530,782
Unlisted Shares)
0.34% 0.62% May 6, 2026
Yellow River Shanxi Industrial Co.,
Ltd./ 黃河山西實
業有限公司
(‘‘Shanxi Industrial ’’)(2)
1,442,724
(including 721,362
H Shares and
721,362
Unlisted Shares)
0.30% 0.38% May 6, 2026
Zhongchuang Hengxing Asset
Management Co., Ltd./ 中創恆興資產
管理有限公司 (‘‘Zhongchuang
Hengxing ’’)(2)
824,414 (including
412,207
H Shares and
412,207
Unlisted Shares)
0.17% 0.22% May 6, 2026
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Name
Number of Shares
held in the
Company subject to
lock-up
undertakings
upon Listing
HS h a r e sa sa%o f
total issued
H Shares after the
Global Offering
subject to lock-up
undertakings upon
Listing
%o fs h a r e h o l d i n g
in the Company
subject to lock-up
undertakings upon
Listing
Last day subject to
the lock-up
undertakings (1)
Tianjin Xingyue Puyu Technology
Co., Ltd./ 天津星月璞瑜科技有限責任
公司
2,095,967
(including
2,095,967
H Shares)
0.87% 0.55% May 6, 2026
Zhao Xuewen/ 趙學文 2,061,034
(including
2,061,034
H Shares)
0.85% 0.54% May 6, 2026
You Yifei/ 游以菲 1,885,448
(including
1,885,448
H Shares)
0.78% 0.50% May 6, 2026
Shanghai Chenqi Trunk Network
Technology Partnership (Limited
Partnership)/ 上海辰棋幹線網絡 科技
合夥企業（有限合夥）(formerly known
as Hainan Trunk Network
Technology Partnership (Limited
Partnership)/ 海南幹線網絡 科技合夥
企業（有限合夥）
1,765,785
(including
1,765,785
H Shares)
0.73% 0.47% May 6, 2026
Shenzhen Changde Enterprise
Management Consulting Partnership
(Limited Partnership)/ 深圳長德企業
管理諮詢合夥企業（有限合夥）
1,648,827
(including
1,319,062
H Shares and
329,765
Unlisted Shares)
0.55% 0.43% May 6, 2026
Shanghai Kechuang Shenxin
Venture Capital Partnership
(Limited Partnership)/ 上海科創申新
創業投資合夥企業（有限合夥）
(‘‘Kechuang Partnership ’’)(3)
850,177 (including
850,177
Unlisted Shares)
N/A 0.22% May 6, 2026
Shanghai Kechuang Shenxin
Venture Capital Management Co.,
Ltd./ 上海科創申新創業投資管理有限
公司 (‘‘Kechuang Management ’’)
(3)
561,117 (including
561,117
Unlisted Shares)
N/A 0.15% May 6, 2026
Lu Qianyuan/ 路倩原 1,030,517
(including 360,681
H Shares and
669,836
Unlisted Shares)
0.15% 0.27% May 6, 2026
Shiyuan Zhonglian Technology Co.,
Ltd./ 北京世源眾聯科技有限公司
1,000,000
(including 700,000
H Shares and
300,000
Unlisted Shares)
0.29% 0.26% May 6, 2026
–1 1–


--- page 12 ---
Name
Number of Shares
held in the
Company subject to
lock-up
undertakings
upon Listing
HS h a r e sa sa%o f
total issued
H Shares after the
Global Offering
subject to lock-up
undertakings upon
Listing
%o fs h a r e h o l d i n g
in the Company
subject to lock-up
undertakings upon
Listing
Last day subject to
the lock-up
undertakings (1)
Nanjing Bochen Shengan
Information Technology Service
Co., Ltd./ 南京博辰勝安信息技術服務
有限公司
824,414 (including
288,545
H Shares and
535,869
Unlisted Shares)
0.12% 0.22% May 6, 2026
CIMC Vehicles (Group) Co., Ltd./
中集車輛（集團）股份有限公司
753,597 (including
376,799
H Shares and
376,798
Unlisted Shares)
0.16% 0.20% May 6, 2026
Wu Weizhong/ 吳偉忠 618,310 (including
216,409
H Shares and
401,901
Unlisted Shares)
0.09% 0.16% May 6, 2026
Fu Changming/ 付長明 618,310 (including
618,310
H Shares)
0.26% 0.16% May 6, 2026
Wang Yicheng/ 王藝澄 412,207 (including
412,207
H Shares)
0.17% 0.11% May 6, 2026
Sichuan Hydrogen Lithium Breton
New Energy Technology Co., Ltd./
四川氫鋰博雷頓新能源科技有限公司
164,883 (including
57,709
H Shares and
107,174
Unlisted Shares)
0.02% 0.04% May 6, 2026
Total 49,996,067
(including
32,274,551
H Shares and
17,721,516
Unlisted Shares)
13.38% 13.16%
Notes:
1. The expiry date of the lock-up period shown in the table above is pursuant to the applicable PRC laws
and regulations.
2. Zhongchuang Hengxing is a wholly owned subsidiary of Shanxi Industrial.
3. Kechuang Partnership is a limited partnership established in the PRC and Kechuang Management is a
limited liability company established in the PRC, both of them are ultimately controlled by Fang
Jialiang (
方加亮), an Independent Third Party.
–1 2–


--- page 13 ---
Cornerstone Investors
Investor
Number of Shares held
in the Company subject
to lock-up undertakings
upon Listing
HS h a r e sa sa%o f
shareholding in the
Company subject to
lock-up undertakings
upon Listing
Last day subject to the
lock-up
undertakings
Note
HongKong Xinwei
Electronic Co., Limited/ 香港
欣威電子有限公司
2,117,400 H Shares 0.56% February 6, 2026
Changfeng Growth Equity
Fund OFC/ 長風成長股票開
放式基金型公司
1,388,800 H Shares 0.37% February 6, 2026
Total 3,506,200 H Shares 0.92%
Note: In accordance with the relevant cornerstone investment agreements, the required lock-up ends on
February 6, 2026. The Cornerstone Investors will cease to be prohibited from disposing of or
transferring H Shares subscribed for pursuant to the relevant cornerstone investment agreements
after the indicated date.
–1 3–


--- page 14 ---
PLACEE CONCENTRATION ANALYSIS
Placees *
Number of H
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 2,359,400 22.69% 18.15% 2,359,400 0.62%
Top 5 9,090,000 87.40% 69.92% 9,090,000 2.39%
Top 10 10,380,400 99.81% 79.85% 10,380,400 2.73%
Top 25 10,383,400 99.84% 79.87% 10,383,400 2.73%
Note
* Ranking of placees is based on the number of H Shares allotted to the placees.
–1 4–


--- page 15 ---
H SHAREHOLDERS CONCENTRATION ANALYSIS
HS h a r e h o l d e r s(1)
Number of H
Shares allotted
Allotment as %
of International
Offering
Allotment as %
of total Offer
Shares
Number of H
Shares held
upon Listing
% of total issued
H Shares capital
upon Listing
Number of
Shares held
upon Listing
Top 1 (2) 0 0.00% 0.00% 60,171,890 24.94% 117,973,590
Top 5 (3)(4) 0 0.00% 0.00% 145,109,371 60.15% 202,911,071
Top 10 (5) 0 0.00% 0.00% 187,786,318 77.84% 277,162,891
Top 25 6,201,200 59.63% 47.70% 224,500,540 93.06% 323,322,937
Notes
(1) Ranking of H Shareholders is based on the number of H Shares held by H Shareholders upon Listing.
(2) Refers to the group of Controllin g Shareholders. Please see notes (3) and (4) to lock-up undertakings of
Controlling Shareholders above for details.
(3) The Shares held by Jiaxing Dixin, Fujian Diquan, Jiaxing Tongneng, Zibo Naying and Xiao Wenbin
have been aggregated for the purpose of this analysis. Please see note (3) to lock-up undertakings of
principal Pre-IPO Investors above for details.
(4) The Shares held by Zhongding No.5 and Zhongding Qinglan have been aggregated for the purpose of this
analysis. Please see note (4) to lock-up undertakings of principal Pre-IPO Investors above for details.
(5) The Shares held by Zhao Yongge and Yang Jiayong have been aggregated for the purpose of this
analysis. Please see note (5) to lock-up undertakings of principal Pre-IPO Investors above for details.
SHAREHOLDER CONCENTRATION ANALYSIS
Shareholders (1)
Number of H
Shares allotted
Allotment as %
of International
Offering
Allotment as %
of total Offer
Shares
Number of H
Shares held
upon Listing
Number of
Shares held
upon Listing
% of total issued
share capital
upon Listing
Top 1 (2) 0 0.00% 0.00% 60,171,890 117,973,590 31.07%
Top 5 (3)(4) 0 0.00% 0.00% 132,009,583 213,914,908 56.35%
Top 10 (5) 0 0.00% 0.00% 181,525,927 284,875,616 75.04%
Top 25 2,359,400 22.69% 18.15% 217,309,406 350,453,431 92.31%
Notes
(1) Ranking of Shareholders is based on the number of Shares (of all classes) held by Shareholders upon
Listing.
(2) Refers to the group of Controllin g Shareholders. Please see notes (3) and (4) to lock-up undertakings of
Controlling Shareholders above for details.
(3) The Shares held by Jiaxing Dixin, Fujian Diquan, Jiaxing Tongneng, Zibo Naying and Xiao Wenbin
have been aggregated for the purpose of this analysis. Please see note (3) to lock-up undertakings of
principal Pre-IPO Investors above for details.
(4) The Shares held by Zhongding No.5 and Zhongding Qinglan have been aggregated for the purpose of this
analysis. Please see note (4) to lock-up undertakings of principal Pre-IPO Investors above for details.
(5) The Shares held by Zhao Yongge and Yang Jiayong have been aggregated for the purpose of this
analysis. Please see note (5) to lock-up undertakings of principal Pre-IPO Investors above for details.
–1 5–


--- page 16 ---
BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of t he conditions set out in the Prospectus, valid applications
made by the public will be conditionally allocated on the basis set out below:
NO. OF
HS H A R E S
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS O F ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED OF
THE TOTAL
NO. OF H
SHARES
APPLIED FOR
POOL A
200 12,680 254 out of 12,680 applicants to receive 200 H Shares 2.00%
400 3,378 119 out of 3,378 applicants to receive 200 H Shares 1.76%
600 1,671 82 out of 1,671 applicants to receive 200 H Shares 1.64%
800 604 38 out of 604 applicants to receive 200 H Shares 1.57%
1,000 1,385 103 out of 1,385 applicants to receive 200 H Shares 1.49%
1,200 410 36 out of 410 applicants to receive 200 H Shares 1.46%
1,400 202 20 out of 202 applicants to receive 200 H Shares 1.41%
1,600 271 30 out of 271 applicants to receive 200 H Shares 1.38%
1,800 165 20 out of 165 applicants to receive 200 H Shares 1.35%
2,000 2,616 338 out of 2,616 applicants to receive 200 H Shares 1.29%
3,000 644 116 out of 644 applicants to receive 200 H Shares 1.20%
4,000 677 154 out of 677 applicants to receive 200 H Shares 1.14%
5,000 995 271 out of 995 applicants to receive 200 H Shares 1.09%
6,000 762 240 out of 762 applicants to receive 200 H Shares 1.05%
7,000 200 72 out of 200 applicants to receive 200 H Shares 1.03%
8,000 263 105 out of 263 applicants to receive 200 H Shares 1.00%
9,000 154 68 out of 154 applicants to receive 200 H Shares 0.98%
10,000 647 308 out of 647 applicants to receive 200 H Shares 0.95%
12,000 261 144 out of 261 applicants to receive 200 H Shares 0.92%
14,000 143 90 out of 143 applicants to receive 200 H Shares 0.90%
16,000 162 113 out of 162 applicants to receive 200 H Shares 0.87%
18,000 114 88 out of 114 applicants to receive 200 H Shares 0.86%
20,000 628 522 out of 628 applicants to receive 200 H Shares 0.83%
30,000 380 200 H Shares plus 80 out of 380 applicants to receive
an additional 200 H Shares
0.81%
40,000 198 200 H Shares plus 92 out of 198 applicants to receive
an additional 200 H Shares
0.73%
50,000 161 200 H Shares plus 122 out of 161 applicants to receive
an additional 200 H Shares
0.70%
60,000 116 400 H Shares 0.67%
–1 6–


--- page 17 ---
NO. OF
HS H A R E S
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS O F ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED OF
THE TOTAL
NO. OF H
SHARES
APPLIED FOR
70,000 45 400 H Shares plus 14 out of 45 applicants to receive
an additional 200 H Shares
0.66%
80,000 67 400 H Shares plus 38 out of 67 applicants to receive
an additional 200 H Shares
0.64%
90,000 31 400 H Shares plus 26 out of 31 applicants to receive
an additional 200 H Shares
0.63%
100,000 100 600 H Shares 0.60%
120,000 51 600 H Shares plus 29 out of 51 applicants to receive
an additional 200 H Shares
0.59%
140,000 27 800 H Shares 0.57%
160,000 28 800 H Shares plus 14 out of 28 applicants to receive
an additional 200 H Shares
0.56%
180,000 20 800 H Shares plus 19 out of 20 applicants to receive
an additional 200 H Shares
0.55%
200,000 135 1,000 H Shares plus 50 out of 135 applicants to
receive an additional 200 H Shares
0.54%
Total 30,391 Total number of Pool A successful applicants: 4,690
POOL B
300,000 162 4,000 H Shares plus 140 out of 162 applicants to
receive an additional 200 H Shares
1.39%
400,000 18 5,400 H Shares 1.35%
500,000 20 6,600 H Shares 1.32%
650,000 47 8,400 H Shares 1.29%
Total 247 Total number of Pool B successful applicants: 247
As of the date of this announcement, the relevant subscription monies previously deposited
in the designated nominee accounts have been r emitted back to the accounts of all HKSCC
participants. Investors should contact the ir relevant brokers for any inquiries.
–1 7–


--- page 18 ---
COMPLIANCE WITH LISTING RULES AND GUIDANCE
The Directors confirm that the Company ha s complied with the Listing Rules and
guidance materials in relation to the placing, allotment and listing of the Company’s H
Shares.
The Directors confirm that, to the best of the ir knowledge, the consideration paid by the
placees or the public (as the case may be) di rectly 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.
REALLOCATION
As the International Offer Shares are undersu bscribed and the Hong Kong Public Offer
Shares are oversubscribed, the reallocation procedure as disclosed in the section headed
‘‘Structure of the Global Offering — The H ong Kong Public Offering — Reallocation
and Clawback’’ of the Prospectus has been applied.
As a result of such reallocation, the final number of Offer Shares under the Hong Kong
Public Offering is adjusted to 2,600,000 H Sh ares, representing 20% of the total number
of Offer Shares available under the Global Offering.
–1 8–


--- page 19 ---
DISCLAIMERS
Hong Kong Exchanges and Clearing Li mited, The Stock Exchange of Hong Kong
Limited (the ‘‘Stock Exchange ’’) and Hong Kong Securities Clearing Company Limited
(‘‘HKSCC ’’) take no responsibility for the contents of this announcement, make no
representation as to its accuracy or complet eness and expressly d isclaim any liability
whatsoever for any loss howsoever arising f rom or in reliance upon the whole or any part
of the contents of this announcement.
This announcement does not constitute an offer t o sell or the solicitation of an offer to buy
nor shall there be any sale of Offer Shares in any jurisdiction in which such offer,
solicitation or sales would be unlawful. This announcement is not for release, publication,
distribution, directly or indire ctly, in or into the United States (including its territories
and possessions, any state of the United Stat es and the District of Columbia) or any other
jurisdiction where such release, publication o r distribution is prohibited by law. This
announcement does not constitute or form a par t of any offer to sell or solicitation to
purchase or subscribe for securities in the U nited States or in any other jurisdiction. 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 any state
securities law in the United States and may no t be offered, sold, pledged or transferred
within the United States or to, or for the acco unt or benefit of U.S. persons (as defined in
Regulation S), except pursuant to an exemption from, or in a transaction not subject to,
the registration requirements of the U. S. Securities Act. The Offer Shares may be
offered, sold or delivered outside the United S tates in offshore transactions in reliance on
Regulation S.
This announcement is for information purposes only and does not constitute an invitation
or offer to acquire, purchase or subscrib e for securities. This announcement is not a
prospectus. Potential investors should read the Prospectus dated April 25, 2025 issued by
Breton Technology Co., Ltd. for detailed inf ormation about the Globa l Offering described
below before deciding whether or not to inv est 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 o n behalf of the Hong Kong Underwriters)
shall in their sole discretion 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 — Hong Ko ng Underwriting Arrangements — Hong Kong
Public Offering — Grounds for Termination’’ i n the Prospectus at any time prior to 8 : 00
a.m. (Hong Kong time) on the Listing Date.
PUBLIC FLOAT
Immediately following the completion of the Global Offering and conversion of Unlisted
Shares into H Shares, 167,930,548 H Shares h eld or controlled by our Shareholders who
are not our core connected persons, represe nting approximately 44.23% of our total
issued Shares, will be held in the public han ds. Therefore, the number of Shares in the
public hands represents no less than 25% of the total issued share capital of the
Company, satisfying the minimum percent age requirement in compliance with Rule
8.08(1) of the Listing Rules.
–1 9–


--- page 20 ---
The Directors confirm that, immediatel y following the completion of the Global
Offering, (i) no placee will, individually, b e placed more than 10% of the enlarged issued
share capital of the Company immediately aft er the Global Offering; (ii) there will not be
any new substantial Shareholder immediately a fter the Global Offering; (iii) the three
largest public Shareholders do not hold more than 50% of the Shares held in the public
hands at the time of the Listing in compliance with Rules 8.08(3) and 8.24 of the Listing
Rules; and (iv) there will be at least 300 Sh areholders at the time of the Listing in
compliance with Rule 8.08(2) of the Listing Rules.
COMMENCEMENT OF DEALINGS
The H Share certificates will only becom e valid evidence of title at 8 : 00 a.m. on
Wednesday, May 7, 2025 (Hong Kong time), provided that the Global Offering has
become unconditional and th e right of termination described in the section headed
‘‘Underwriting — Hong Kong Underwriting Arrangements — Hong Kong Public
Offering — Grounds for Termination’’ in th e Prospectus has not been exercised.
Investors who trade the H Shares on the basi s of publicly available allocation details
prior to the receipt of H Share certificates or prior to the H Share certificates becoming
valid evidence of title do so e ntirely at their own risk.
Assuming that the Global Offering become s unconditional at or before 8 : 00 a.m. on
Wednesday, May 7, 2025 (Hong Kong time), it is expected that dealings in the H Shares
on the Stock Exchange will commence at 9 : 00 a.m. on Wednesday, May 7, 2025 (Hong
Kong time). The H Shares will be traded in boa rd lots of 200 Shares each, and the stock
code of the Shares will be 1333.
By order of the Board
Breton Technology Co., Ltd.
Mr. Chen Fangming
Chairman and Executive Director
Hong Kong, May 6, 2025
As at the date of this announcement, Direct ors are (i) Mr. Chen Fangming, Dr. Qiu Debo,
Mr. Sun Kanghua and Ms. Yang Hui as executi ve Directors; (ii) Mr. Cao Haiyi and
Mr. Wang Zhenkun as non-executive Director s; and (iii) Mr. Zhou Yuan, Dr. Li Xiaofu,
Dr. Jiang Bailing and Mr. YIM, Chi Hung Henry a s independent non-executive Directors.
–2 0–