hk-ipo/data/extracted_text/01354/allotment_results_2024-07-03_2024070300007.txt

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Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those
defined in the prospectus dated June 24, 2024 (the “Prospectus ”) issued by Xi ’an Kingfar Property Services Co., Ltd.
(the “Company ”). Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the
“Stock Exchange ”) and Hong Kong Securities Clearing Company Limited ( “HKSCC ”) take no responsibility for the
contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any
liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of
this announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States
(including its territories and possessions, any state of the United States and the District of Columbia). This
announcement does not constitute or form a part of any offer to sell or solicitation to purchase or subscribe for
securities in the United States or in any other jurisdictions. The Offer Shares have not been, and will not be, registered
under the United States Securities Act of 1933, as amended from time to time (the “U.S. Securities Act ”) or any states
securities laws of the United States. The securities may not be offered or sold in the United States except pursuant to
an effective registration statement or in accordance with an available exemption from, or in a transaction not subject
to, the registration requirements of the U.S. Securities Act. It is not currently intended for there to be any public offer
of securities in the United States. The Offer Shares are being offered and sold outside the United States in offshore
transactions in reliance on Regulation S under the U.S. Securities Act.
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase
or subscribe for securities. This announcement is not a prospectus. Potential investor to read the Prospectus for
detailed information about the Global Offering before deciding whether or not to invest in the H Shares.
Xi’an Kingfar Property Services Co., Ltd.
ʮ̡
(A joint stock company incorporated in the People ’s Republic of China with limited liability)
(Stock Code: 1354)
CLARIFICATION ANNOUNCEMENT
The board of directors of the Company (the “Board ”) wishes to revise certain inadvertent clerical
errors in the English and Chinese version of the announcement of final offer price and allotment
results issued by the Company dated July 2, 2024 (the “Allotment Results Announcement ”).
Please refer to the attached blackline version of the Allotment Results Announcement showing
the clarifications. Details of the clarifications are set out in the sections headed “Allotment
Results Details ”, “Lock-up Undertakings ”, ”Placee Concentration Analysis ”, “H Shareholders
Concentration Analysis ” and “Shareholder Concentration Analysis ”.
Save for those clarifications indicated in the attached document, all other information stated in the
Allotment Results Announcement remain unchanged and the Company confirms that there is no
material misstatement in the Allotment Results Announcement.
By order of our Board
Xi’an Kingfar Property Services Co., Ltd.
ʮ̡
Mr. Wu Suozheng
Chairman of our Board and Executive Director
Hong Kong, July 3, 2024
As of the date of this announcement, our Board comprises: (i) Mr. Wu Suozheng, Mr. Sun Qi and
Mr. Cheng Hongrang as executive Directors; (ii) Mr. Zhao Junping, Mr. Yang Gang and Ms. Li
Lingxiao as non-executive Directors; and (iii) Mr. Lam Siu Wing, Dr. Jiang Li and Mr. Cao Yang
as independent non-executive Directors.


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Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”)
and Hong Kong Securities Clearing Company Limited (“HKSCC”) take no responsibility for the contents of this
announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for
any loss howsoever arising from or in reliance upon the whole or any part of the contents of this  announcement. Unless
otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those defined in
the prospectus dated Monday, June 24, 2024 (the “Prospectus”) issued by Xi ’an Kingfar Property  Services Co., Ltd. (the
“Company”).
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase
or subscribe for any securities of our Company. This announcement is not a prospectus. Potential investors should read
the Prospectus for detailed information about our Company and the Global Offering described below before deciding
whether or not to invest in the Offer Shares.

This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States
(including its territories and possessions, any state of the United States and the District of Columbia). This announcement
does not constitute or form a part of any offer to sell or solicitation to purchase or subscribe for securities in the United
States or in any other jurisdictions. The Offer Shares have not been, and will not be, registered under the United States
Securities Act of 1933, as amended from time to time (the “U.S. Securities Act ”) or any states securities  laws of the United
States. The securities may not be offered or sold in the United States except pursuant to an effective registration statement
or in accordance with an available exemption from, or in a transaction not subject to, the registration requirements of
the U.S. Securities Act. It is not currently intended for there to be any public offer of securities in the United States. The
Offer Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S under
the U.S. Securities Act.
In connection with the Global Offering, CEB International Capital Corporation Limited, as stabilizing manager (the “Stabilizing
Manager”), its affiliates or any person acting for it, 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 in an open market for a limited period after the Listing Date. However, there is no obligation  on the
Stabilizing Manager, its affiliates or any person acting for it, to conduct any such stabilizing action, which, if commenced,
will be conducted at the sole and absolute discretion of the Stabilizing Manager, its affiliates or any person acting for
it, and may be discontinued at any time. Any such stabilizing activity is required to be brought to an end on the 30th day
after the last date for lodging applications under the Hong Kong Public Offering.

Such stabilization action, if commenced, may be effected in all jurisdictions where it is permissible to do so, in each
case in compliance with all applicable laws, rules and regulatory requirements, including the Securities and Futures
(Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong), as amended, made under the Securities and Futures
Ordinance (Chapter. 571 of the Laws of Hong Kong). Potential investors should be aware that stabilizing actions cannot
be taken to support the price of the H Shares for longer than the stabilization period which will begin on the Listing
Date and is expected to expire on the 30th day after the last date for lodging applications under the Hong Kong Public
Offering. After this date, no further stabilizing action may be taken, and demand for the H Shares and therefore the
price of the H Shares could fall.

Potential investors of the Offer Shares should note that the Joint Overall Coordinators (for themselves and on behalf of
the Underwriters) shall be entitled to terminate the Hong Kong Underwriting Agreement with immediate effect upon the
occurrence of any of the events set out in the section headed “Underwriting – Underwriting Arrangements and Expenses
– Hong Kong Public Offering – Grounds for Termination” in the Prospectus at any time at or prior to 8:00 a.m. on
the Listing Date (which is currently expected to be on July 3, 2024).













1


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Xi’an Kingfar  Property  Services  Co., Ltd.
西安經發物業股份有限公司
(A joint stock company incorporated in the People’s Republic of China with limited liability)

GLOBAL OFFERING

Number of Offer Shares under the
Global Offering
: 16,666,800 H Shares
Number of Hong Kong Offer Shares : 3,002,100 H Shares
Number of International Offer Shares : 13,664,700 H Shares
Final Offer Price : HK$7.50 per H Share, plus brokerage of
1.0%, SFC transaction levy of 0.0027%,
Hong Kong Stock Exchange trading fee of
0.00565% and AFRC transaction levy of
0.00015%
Nominal value : RMB1.00 per H Share
Stock code :  1354
Sole Sponsor


Joint Overall Coordinators, Joint Global Coordinators, Joint Bookrunners
and Joint Lead Managers

Joint Bookrunners and Joint Lead Managers
















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XI'AN KINGFAR PROPERTY SERVICES CO., LTD. / 西安經發物業股份有限公司
ANNOUNCEMENT OF FINAL OFFER PRICE AND
ALLOTMENT RESULTS
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings
as those defined in the prospectus dated June 24, 2024 (the “Prospectus”) issued by Xi'an Kingfar Property
Services Co., Ltd. (the “Company”).

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

Company information
Stock code 1354
Stock short name KINGFARPROPERTY
Dealings commencement date July 3, 2024*
*see note at the end of the announcement

Price Information
Final Offer Price HK$7.500
Offer Price Range HK$7.500 - HK$9.300
Offer Price Adjustment exercised No

Offer Shares and Share Capital
Number of Offer Shares 16,666,800
Number of Offer Shares in Hong Kong Public Offering
(after reallocation)
3,002,100
Number of offer shares in International Offering (after
reallocation)
13,664,700
Number of issued shares upon Listing 66,666,800


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

Proceeds
Gross proceeds (Note) HK$ 125.00 million
Less: Estimated listing expenses payable based on Final
Offer Price
HK$ (34.53) million
Net proceeds HK$ 90.47 million

Note: Gross proceeds refers to the amount to which the issuer is entitled receive. For details of the use of
proceeds, please refer to the Prospectus dated June 24, 2024.


ALLOTMENT RESULTS DETAILS


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HONG KONG PUBLIC OFFERING


No. of valid applications 7,071
No. of successful applications 2,056
Subscription level 118.87 times
Claw-back triggered No
No. of Offer Shares initially available under the Hong Kong Public
Offering
1,666,800
No. of Offer Shares reallocated from the International Offering
(claw-back)
1,335,300
Final no. of Offer Shares under the Hong Kong Public Offering
(after reallocation)
3,002,100
% of Offer Shares under the Hong Kong Public Offering to the
Global Offering
18.01%

Note: For details of the final allocation of shares to the Hong Kong Public Offering, investors can refer to
www.eipo.com.hk/eIPOAllotment to perform a search by name or identification number or
www.eipo.com.hk/eIPOAllotment for the full list of allottees.
INTERNATIONAL OFFERING


No. of placees 122
Subscription Level 0.98 times
No. of Offer Shares initially available under the International
Offering
15,000,000
No. of Offer Shares reallocated to the Hong Kong Public Offering
(claw-back)
1,335,300
Final no. of Offer Shares under the International Offering (after
reallocation)
13,664,700
% of Offer Shares under the International Offering to the Global
Offering
81.99%

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

The placees in the International Offering include the following:
Cornerstone Investors


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Investor



No. of
Offer
Shares
allocated





% of Offer
Shares
% of total
issued share
capital after the
Global Offering
(assuming the
Over-allotment
Option is not
exercised)



Existing
shareholders or
their close
associates
THE REYNOLD
LEMKINS GROUP
(ASIA) LIMITED


1,320,000


7.92%


1.98%


No
Xi’an Dingzhun
Education and
Technology Co., Ltd./
西安盯准教育科技有
限公司




1,463,700




8.78%




2.20%




No
Xi’an Tianbo
Diagnostics Co., Ltd. /
西安天博诊断技术有
限公司



4,391,100



26.35%



6.59%



No
Total 7,174,800 43.05% 10.76%

LOCK-UP UNDERTAKINGS
Controlling Shareholders






Name
Number of shares
held in the
Company subject
to lock-up
undertakings
upon listing

% of shareholding
in the Company
subject to lock-up
undertakings upon
listing



Last day subject to the lock-up
undertakings
Xi’an Kingfar 50,000,000 75.00% January 2, 2025 (First Six-Month
Holdings (Group)   Period) Note 1
Co., Ltd. / 西安經發
控股（集團）有限責
任公司("Kingfar
Holdings") Note 3
   July 2, 2025 (Second Six-Month
Period) Note 2
Subtotal 50,000,000 75.00%
In accordance with the relevant Listing Rule/guidance materials, the required lock-up for the first six-
month period ends on January 2, 2025 and for the second six-month period, on July 2, 2025. In
addition, according to the PRC Company Law, all the Shares held by existing Shareholders (which
consists of the Controlling Shareholders) prior to the Global Offering are subject to a lock-up period
of 1 year from the Listing Date.


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Cornerstone Investors






Name
Number of shares
held in the Company
subject to lock-up
undertakings upon
listing
% of
shareholding in
the Company
subject to lock-up
undertakings
upon listing



Last day subject to the
lock-up undertakings
Xi’an Tianbo Diagnostics Co.,
Ltd. / 西安天博診斷技術有限
公司
4,391,100 6.59% July 2, 2025Note2
Xi’an Dingzhun Education and
Technology Co., Ltd. / 西安盯
準教育科技有限公司
1,463,700 2.20% July 2,2025 Note2
The Reynold Lemkins Group
(Asia) Limited
1,320,000 1.98% January 2, 2025 Note2
Subtotal 7,174,800 10.76%
The expiry date of the lock-up period shown in the table above is pursuant to the relevant Cornerstone
Investment Agreement.

Notes
1. The Controlling Shareholder may dispose of or transfer H Shares after the indicated date subject to that the
Controlling Shareholder will not cease to be a Controlling Shareholder.

2. The Controlling Shareholder and Cornerstone Investors will cease to be prohibited from disposing of or transferring
H Shares after the indicated date.

3. Comprises of 5,000,000 Shares directly owned by Kingfar Holdings, and 45,000,000 Shares indirectly owned by Kingfar
Holdings via Xi’an Kingfar Group Co., Ltd. ( 西安經發集團有限責任公司) ("Kingfar Group"). As at the date of this
announcement, Kingfar Group was owned as to approximately 88.5% by Kingfar Holdings.


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PLACEE CONCENTRATION ANALYSIS





Placees




Number of H Shares allotted




Allotment as % of International Offering
(after reallocation)




Allotment as % of total Offer Shares



Number of
Shares held upon Listing



% of total issued share capital upon
Listing
Top 1 4,391,100 32.13% 26.35% 4,391,100 6.59%
Top 5 10,738,800 78.59% 64.43% 10,738,800 16.11%
Top 10 13,498,200 98.78% 80.99% 13,498,200 20.25%
Top 25 13,635,600 99.79% 81.81% 13,635,600 20.45%

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


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H SHAREHOLDERS CONCENTRATION ANALYSIS






H
Shareholders*




Number of H
Shares
allotted

Hong Kong Public Off
ering Allotment as %
of Hong Kong Public
Offering(after reallo
cation)



Allotment as % of
International
Offering (after
reallocation)





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 4,391,100 0.00% 32.13% 26.35% 4,391,100 26.35% 4,391,100
Top 5 10,738,800 0.00% 78.59% 64.43% 10,738,800 64.43% 10,738,800
Top 10 13,498,200 0.00% 98.78% 80.99% 13,498,200 80.99% 13,498,200
Top 25 13,791,000 5.32% 100.9299.76% 82.75% 13,791,000 82.75% 13,791,000

Notes
* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
SHAREHOLDER CONCENTRATION ANALYSIS





Shareholders




Number of H Sh
ares allotted
Hong Kong Public
Offering Allotment
as % of Hong Kong
Public Offering
(after reallocation)


Allotment as % of
International
Offering (after
reallocation)




Allotment as % of
total Offer Shares



Number of Shares held
upon Listing



% of total issued
share capital upon
Listing
Top 1 0 0.00% 0.00% 0.00% 50,000,000 75.00%
Top 5 9,418,800 0.00% 68.93% 56.51% 59,418,800 89.13%
Top 10 13,258,200 0.00% 97.03% 79.55% 63,258,200 94.89%
Top 25 13,779,600 4.94% 100.8499.76% 82.68% 63,779,600 95.67%

Notes
* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.

BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the Prospectus, valid applications made by
the public will be conditionally allocated on the basis set out below:



NO. OF H SHARES APPLIED
FOR

NO. OF VALID
APPLICATIONS

BASIS OF
ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE  ALLOTTED
OF THE TOTAL NO. OF H
SHARES  APPLIED  FOR
300 2,414 0 H Shares 3.79% 300 95 300 H Shares


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600 282 0 H Shares 3.77% 600 23 300 H Shares
900 997 0 H Shares 3.66% 900 123 300 H Shares
1,200 88 0 H Shares 3.64% 1,200 15 300 H Shares
1,500 84 0 H Shares 3.53% 1,500 18 300 H Shares
1,800 35 0 H Shares 3.41% 1,800 9 300 H Shares
2,100 36 0 H Shares 3.34% 2,100 11 300 H Shares
2,400 32 0 H Shares 3.20% 2,400 11 300 H Shares
2,700 19 0 H Shares 2.99% 2,700 7 300 H Shares
3,000 176 0 H Shares 2.70% 3,000 65 300 H Shares
4,500 489 0 H Shares 2.32% 4,500 261 300 H Shares
6,000 84 0 H Shares 1.79% 6,000 47 300 H Shares
7,500 25 0 H Shares 1.73% 7,500 19 300 H Shares
9,000 44 0 H Shares 1.70% 9,000 46 300 H Shares
10,500 146 0 H Shares 1.70% 10,500 213 300 H Shares
12,000 16 0 H Shares 1.67% 12,000 32 300 H Shares
13,500 7 0 H Shares 1.65% 13,500 20 300 H Shares
15,000 41 0 H Shares 1.64% 15,000 189 300 H Shares
30,000 74 300 H Shares 1.64% 30,000 130 600 H Shares
45,000 57 600 H Shares 1.63% 45,000 47 900 H Shares
60,000 73 900 H Shares 1.63% 60,000 25 1,200 H Shares
75,000 30 1,200 H Shares 1.63% 75,000 2 1,500 H Shares
90,000 4 1,200 H Shares 1.63% 90,000 30 1,500 H Shares
105,000 12 1,500 H Shares 1.62% 105,000 26 1,800 H Shares
120,000 13 1,800 H Shares 1.62% 120,000 12 2,100 H Shares


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135,000 14 2,100 H Shares 1.61% 135,000 5 2,400 H Shares
150,000 22 2,400 H Shares 1.61% 150,000 1 2,700 H Shares
180,000 10 2,700 H Shares 1.61% 180,000 18 3,000 H Shares
210,000 11 3,300 H Shares 1.61% 210,000 4 3,600 H Shares
240,000 1 3,600 H Shares 1.60% 240,000 4 3,900 H Shares
270,000 6 4,200 H Shares 1.60% 270,000 4 4,500 H Shares
300,000 33 4,800 H Shares 1.60%
450,000 30 7,200 H Shares 1.60%
600,000 66 8,100 H Shares 1.36% 600,000 8 8,400 H Shares
750,000 4 10,200 H Shares 1.36%
833,400 27 11,100 H Shares 1.36% 833,400 49 11,400 H Shares
Total 7,071 3,002,100 H Shares

As of the date of this announcement, the relevant subscription monies previously deposited in the
designated nominee accounts have been remitted back to the accounts of all HKSCC participants.
Investors should contact their relevant brokers for any inquiries.
COMPLIANCE WITH LISTING RULES AND GUIDANCE
The Directors confirm that, except for the Listing Rules that have been waived and/or in respect of
which consent has been obtained, the Company has complied with the Listing Rules and guidance
materials in relation to the placing, allotment and listing of the Company’s H shares.
The Directors confirm that, to the best of their knowledge, the consideration paid by the placees or
the public (as the case may be) directly or indirectly for each Offer Share subscribed for or purchased
by them was the same as the final Offer Price in addition to any brokerage, AFRC transaction levy,
SFC transaction levy and trading fee payable.

DISCLAIMERS


Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “Stock
Exchange”) and Hong Kong Securities Clearing Company Limited (“HKSCC”) take no
responsibility for the contents of this announcement, make no representation as to its accuracy or
completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from
or in reliance upon the whole or any part of the contents of this announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into the
United States (including its territories and possessions, any state of the United States and the
District of Columbia). This announcement does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities in  the United States. The securities mentioned


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herein have not been, and will not be, registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”). The securities may not be offered or sold in the United States
except pursuant to an exemption from the registration requirements of the U.S. Securities Act and in
compliance with any applicable state securities laws, or outside the United States unless in
compliance with Regulation S under the U.S. Securities Act. There will be no public offer of
securities in the United States.
The Offer Shares are being offered and sold outside the United States in offshore transactions in reliance
on Regulation S under the U.S. Securities Act.
This announcement is for information purposes only and does not constitute an invitation or offer to
acquire, purchase or subscribe for securities. This announcement is not a prospectus. Potential
investors should read the Prospectus dated June 24, 2024 issued by Xi'an Kingfar Property Services
Co., Ltd. for detailed information about the Global Offering described below before deciding
whether or not to invest in the Shares thereby being offered.
*Potential investors of the Offer Shares should note that the Joint Representatives (for themselves
and on behalf of the Hong Kong Underwriters) shall be entitled to terminate their obligations under
the Hong Kong Underwriting Agreement with immediate effect upon the occurrence of any of the
events set out in the paragraph headed “Underwriting – Underwriting Arrangements and Expenses
– Hong Kong Public Offering –Grounds for Termination” in the Prospectus at any time prior to
8:00 a.m. (Hong Kong time) on the Listing Date (which is currently expected to be on July 3,
2024).


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REALLOCATION AND ALLOTMENT TO CORNERSTONE INVESTORS

As disclosed in the Prospectus, each of the Cornerstone Investors has agreed that if the total demand
for H Shares in the Hong Kong Public Offering falls within the circumstances as set out in the
section headed “Structure of the Global Offering － The Hong Kong Public Offering －
Reallocation ” in the Prospectus,  the number  of Offer Shares  to be subscribed  by each
Cornerstone Investor shall be reduced on a pro rata basis to satisfy the shortfall, after taking into
account the requirements under Appendix F1 to the Listing Rules as well as the discretion of
the CEB International Capital Corporation Limited (for itself and on behalf of the International
Underwriters) to exercise the Over -allotment Option. Further, pursuant to the cornerstone
investment agreements entered into with the Cornerstone Investors, the number of Offer Shares
to be subscribed by the Cornerstone Investors may be reduced if the total demand for H Shares
in the Hong Kong Public Offering falls within the circumstances as set out in the section headed
“Structure of the Global Offering － The Hong Kong Public Offering － Reallocation” in the Prospectus,
and CEB International Capital Corporation Limited and the Company shall have the discretion to
adjust the number of Offer Shares to be allotted to the Cornerstone Investors. As the Hong Kong
Public Offering has been over-subscribed but the International Offering was under- subscribed, accordingly,
the exercising of the Over-allotment Option would not be probable, and the number of Offer Shares
subscribed by the Cornerstone Investors has not been reduced on a pro rata basis in accordance with
the mechanism as mentioned above.
As disclosed in the Prospectus,  CEB International  Capital Corporation  Limited may, at its discretion,
reallocate Offer Shares initially allocated for the International Offering to the Hong Kong Public
Offering to satisfy valid applications in pool A and pool B under the Hong Kong Public Offering in
accordance with Chapter 4.14 of the Guide For New Listing Applicants. Considering that the
International Offering was under-subscribed but the Hong Kong Public Offering was over-subscribed,
an aggregate of 1,335,300 Offer Shares has been reallocated from the International Offering to the
Hong Kong Public Offering and the number of Offer Shares subscribed by the Cornerstone Investors
has not been reduced pursuant to the aforementioned  reallocation mechanism. In exercising such
mechanism, CEB International Capital Corporation Limited has considered the Company’s view that
the Cornerstone Investments are long-term in scope and the confidence from the Cornerstone Investors
may influence the market’s perception on the Company.
PUBLIC FLOAT
The Directors confirm that, immediately following completion of the Global Offering: (i) at least 25%
of the total number of issued Shares will be held by the public, in compliance with Rule 8.08(1) of
the Listing Rules; (ii) the H Shares will be held by at least 300 Shareholders at the time of
Listing, in compliance with Rule 8.08(2) of the Listing Rules; (iii) the three largest public Shareholders
will not hold more than 50% of the H Shares held in public hands at the time of Listing, in
compliance with Rule 8.08(3) of the Listing Rules; (iv) no placee will, individually, be placed
more than 10% of the enlarged issued share capital of the Company immediately after the Global
Offering; and (v) there will not be any new substantial Shareholder (as defined in the Listing Rules)
of the Company.









4


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COMMENCEMENT OF DEALINGS
H Share certificates will only become valid at 8:00 a.m. on Wednesday, July 3, 2024, provided that
the Global Offering has become unconditional and the right of termination described in the section headed
“Underwriting” in the Prospectus has not been exercised. Investors who trade H Shares prior to the
receipt of Share certificates or the Share certificates becoming valid do so entirely at their own risk.
Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. on Wednesday,
July 3, 2024, it is expected that dealings in our H Shares on the Hong Kong Stock Exchange will commence
at 9:00 a.m. on Wednesday, July 3, 2024. The H Shares will be traded in board lots of 300 H Shares
each under the stock code 1354.
By order of our Board
Xi’an Kingfar Property Services Co., Ltd.
西安經發物業股份有限公司
Mr. Wu Suozheng
Chairman of our Board and Executive Director
Hong Kong, July 2, 2024
As of the date of this announcement, our Board comprises: (i) Mr. Wu Suozheng, Mr. Sun Qi and
Mr. Cheng Hongrang as executive Directors; (ii) Mr. Zhao Junping, Mr. Yang Gang and Ms. Li
Lingxiao as non-executive Directors; and (iii) Mr. Lam Siu Wing, Dr. Jiang Li and Mr. Cao Yang
as independent non-executive Directors.






























5


--- page 15 ---
香港交易及結算所有限公司、香港聯合交易所有限公司（「香港聯交所」）及香港中央結算有限公
司（「香港結算」）對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表
示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責
任。除本公告另有界定外，本公告中所用詞彙與西安經發物業股份有限公司（「本公司」）所刊發
日期為2024年6月24日（星期一）的招股章程（「招股章程」）所界定者具有相同涵義。
本公告僅供參考，並不構成收購、購買或認購本公司任何證券的邀請或要約。本公告並非招股
章程。有意投資者決定是否投資於發售股份前，應細閱招股章程以了解下文所述有關本公司及
全球發售的詳細資料。

本公告不會直接或間接於或向美國（包括其領土及屬地、美國任何州及哥倫比亞特區）發佈、發
行、分派。本公告並非且不構成在美國或任何其他司法管轄區的任何銷售要約或購買或認購證
券的招攬。發售股份未曾亦不會根據1933 年美國證券法（經不時修訂）（「美國證券法」）或美國
任何州的證券法登記。除非擁有有效登記聲明或獲豁免遵守美國證券法的登記規定或進行不受
該證券法登記規定限制的交易，否則證券不得在美國提呈發售或出售。我們現時無意於美國公
開發售證券。發售股份乃根據美國證券法S規例在美國境外以離岸交易方式發售及出售。
就全球發售而言，光銀國際資本有限公司（作為穩定價格操作人（「穩定價格操作人」））、其聯屬
人士或代其行事的任何人士（代表包銷商）可於上市日期後一段有限期間內在公開市場上超額配
發或進行交易，藉以穩定或支持H股的市價高於原應有的水平。然而，穩定價格操作人、其聯
屬人士或代其行事的任何人士均無責任進行任何該等穩定價格行動。該等穩定價格行動一經開
始，將由穩定價格操作人、其聯屬人士或代其行事的任何人士全權酌情決定進行，亦可隨時終
止。任何該等穩定價格行動均須在遞交香港公開發售申請截止日期後第30日結束。
該等穩定價格行動一經開始，可於所有獲准進行該等行動的司法權區進行，惟須遵守所有適用
法律、規則及監管規定，包括證券及期貨條例（香港法例第571 章）項下的證券及期貨（穩定價
格）規則（香港法例第571W章）（經修訂）。有意投資者務請注意，採取支持H股價格的穩定價格
行動的時間不得超過穩定價格期，即由上市日期開始，並預計於遞交香港公開發售申請截止日
期後第30 日屆滿。該日以後，不得採取進一步穩定價格行動，而 H股需求或會下降從而導致H
股價格下跌。

發售股份的有意投資者務請注意，倘於上市日期 （目前預期將為 2024  年7 月3 日）上午八時正或
以前任何時間發生招股章程「包銷－  包銷安排及開支－  香港公開發售－  終止理由」一節所載任
何事件，聯席整體協調人（為其本身及代表包銷商 ）有權立即終止香港包銷協議。












1


--- page 16 ---
Xi’an Kingfar  Property  Services  Co., Ltd.
西安經發物業股份有限公司
（於中華人民共和國註冊成立的股份有限公司）
全球發售
全球發售項下的發售股份數目  ： 16,666,800股H股
香港發售股份數目  ： 3,002,100股H股
國際發售股份數目  ： 13,664,700股H股
最終發售價   ：  每股H股7.50 港元，另加1.0%經紀
佣金、0.0027%證監會交易徵費、
0.00565%香港聯交所交易費及
0.00015%會財局交易徵費
面值 ： 每股H 股人民幣1.00 元
股份代號 ： 1354
獨家保薦人

聯席整體協調人、聯席全球協調人、聯席賬簿管理人
及聯席牽頭經辦人

聯席賬簿管理人及聯席牽頭經辦人
 & З  ࡋࡋ⳪⳪暲





2


--- page 17 ---
XI'AN KINGFAR PROPERTY SERVICES CO., LTD. / 西安經發物業股份有限公司
最終發售價及配發公告
除本公告另有界定者外，本公告所用詞彙與西安經發物業股份有限公司（「本公司」）日期為 2024
年 6 月 24 日的招股章程（「招股章程」）所界定者具有相同涵義。

警告: 鑑於股權高度集中於數目不多之  H 股股東，即使少量 H 股成交，該公司之 H 股價格亦可能
大幅波動，H 股股東及有意投資者於買賣該公司 H 股時務請審慎行事。
摘要

公司資料
股份代號 1354
股份簡稱 KINGFARPROPERTY
開始買賣日 2024 年 7 月 3 日*
*請參閲本公告底部備註

價格資料
最終發售價 HK$7.500
發售價範圍 HK$7.500 - HK$9.300
發售價進行調整 否

發售股份及股本
發售股份數目 16,666,800
香港公開發售的發售股份數目(重新分配後) 3,002,100
國際發售的發售股份數目(重新分配後) 13,664,700
於上市時已發行的股份數目 66,666,800



超額配售
超額配售的股份數目 0

所得款項
所得款項總額(備註) HK$ 125.00 百萬
減:  最終發售價之預計應付上市費 HK$ (34.53)百萬
所得款項淨額 HK$ 90.47 百萬
備註: 所得款項總額是指發行人有權收取的金額。有關所得款項用途的詳情，請參閱 2024 年 6 月
24 日的招股章程。


配發結果詳情
香港公開發售


--- page 18 ---
有效申請數目 7,071
受理申請數目 2,056
認購額 118.87 倍
觸發回補機制 否
香港公開發售初步可供認購的發售股份數目 1,666,800
由國際發售重新分配的股份數目 (回補後) 1,335,300
香港公開發售最終的發售股份數目(重新分配後) 3,002,100
香港公開發售股份的發售股份數目佔全球發售股份
數目之百分比
18.01%
有關向香港公開發售進行最終股份分配的詳細信息，投資者可以參考
www.eipo.com.hk/eIPOAllotment 以名稱或標識號進行搜索，或者訪問
www.eipo.com.hk/eIPOAllotment 以獲取已分配者的完整列表。
國際發售


承配人的數量 122
認購額 0.98 倍
國際發售的初步可供認購的發售股份總數目 15,000,000
重新分配至香港公開發售的發售股份數目 (回補後) 1,335,300
國際發售最終的發售股份數目(在調整招股數量的選
擇權及重新分配後)
13,664,700
國際發售的發售股份數目佔全球發售股份數目之百分
比
81.99%
董事確認，據彼等所深知、盡悉及確信，(i)承配人及公眾認購的發售股份並非由本公司、任何董事、
監事、本公司最高行政人員、控股股東、主要股東、本公司現有股東或其任何附屬公司或彼等各自
的緊密聯繫人直接或間接撥資；及(ii)購買發售股份的承配人及公眾概無習慣受本公司、任何董事、
監事、本公司最高行政人員、控股股東、主要股東、本公司現有股東或其任何附屬公司或彼等各自的
緊密聯繫人的指示而對登記於其名下或其以其他方式持有的H股股份進行收購、出售、表決或其他處
置。

國際發售中的承配人如下:


--- page 19 ---
基石投資者



投資者


已分配的股份數
目


佔發售股份
數目之百分
比
佔全球發售
後的已發行
股份數目之
百分比（假設超
額配股權並無獲
行使）


現有股東或
其緊密聯繫
人
THE REYNOLD
LEMKINS GROUP
(ASIA) LIMITED

1,320,000

7.92%

1.98%

否
西安盯准教育科
技有限公司 1,463,700 8.78% 2.20% 否
西安天博诊断技
术有限公司 4,391,100 26.35% 6.59% 否
總計 7,174,800 43.05% 10.76%
禁售承諾
控股股東



名稱

於上市時所持
有公司需禁
售的股票數目
於上市時 所持有
公司需禁售的股
票數目之百分
比


禁售期最後一天
Xi’an Kingfar
Holdings (Group) Co.,
Ltd. / 西安經發控股
（集團）有限責任公司
（「經發控股」）
備註 3
50,000,000 75.00% 2025 年 1 月 2 日 (首個六個月
期間)
備註1


   2025 年 7 月 2 日 (第二個六個月
期間)備註2

小計 50,000,000 75.00%
根據相關《上市規則》/指引資料，首個六個月禁售期間於 2025 年 1 月 2 日結束，然後第二個六
個月禁售期間於 2025 年 7 月 2 日結束。此外，根據《中華人民共和國公司法》，現有股東（包括控股股
東）在全球發售前持有的所有股份自上市日期起有一年的禁售期。


--- page 20 ---
基石投資者


名稱
於上市時所持有公
司需禁售
的股票數目
於上市時所持有
公司需禁售的股
票數目之百
分比

禁售期最後一天
Xi’an Tianbo Diagnostics
Co., Ltd. / 西安天博診斷技
術有限公司
4,391,100 6.59% 2025 年 7 月 2 日
備註2

Xi’an Dingzhun Education
and Technology Co., Ltd. /
西安盯準教育科技有限公司
1,463,700 2.20% 2025 年 7 月 2 日
備註2

The Reynold Lemkins Group
(Asia) Limited
1,320,000 1.98% 2025 年 1 月 2 日
備註2

小計 7,174,800 10.76%
上表所示禁售期屆滿日期乃根據相關基石投資協議而定。
備註
1. 控股股東可於所示日期後出售或轉讓H股，惟彼等須仍然為控股股東。

2. 控股股東及基石投資者可於所示日期後在無禁售責任的情況下出售或轉讓H股。

3. 包括由經發控股直接擁有的5,000,000股股份及經發控股通過西安經發集團有限責任公司 （「經發集團」）間
接擁有的45,000,000股股份。於本公告日期，經發集團由經發控股擁有約88.5%的股權。


--- page 21 ---
承配人集中度分析




承配人



獲配發H股數目


獲配發股份數目佔國際發售
股份的百分比（重新分配
後）


獲配發股份數目佔發售股份
總數的百分比



上市後所持股份數目


佔上市後已發行股份總數
的百分比
最大 4,391,100 32.13% 26.35% 4,391,100 6.59%
前 5 10,738,800 78.59% 64.43% 10,738,800 16.11%
前 10 13,498,200 98.78% 80.99% 13,498,200 20.25%
前 25 13,635,600 99.79% 81.81% 13,635,600 20.45%

備註
*承配人排名基於分配給承配人的H 股數量而定。


--- page 22 ---
H 股持有人股權集中度分析



H
股
股
東
*






獲配發H股數目
香港公
開發售
配發股
份佔香
港公開
發售股
份的百
分比
（重新
分配
後）



獲配發股份
數目佔國際
發售股份的
百分比（重
新分配後）




獲配發股份
數目佔發售
股份總數的
百分比





上市後所持H
股數目





佔上市後已
發行H股總
數的百分比





上市後所持
股份數目
最
大
4,391,100 0.00% 32.13% 26.35% 4,391,100 26.35% 4,391,100
前
5
10,738,800 0.00% 78.59% 64.43% 10,738,800 64.43% 10,738,800
前
10
13,498,200 0.00% 98.78% 80.99% 13,498,200 80.99% 13,498,200
前
25
13,791,000 5.32% 100.9299.76% 82.75% 13,791,000 82.75% 13,791,000

備註
*H 股股東排名基於H 股股東在上市後所持的H 股數量而定。
股權集中度分析



獲配發H
股數目
香港公開發售
配發股份佔香
港公開發售股
份的百分比
（重新分配
後）

獲配發股份數
目佔國際發售
股份的百分比
（重新分配
後）


獲配發股份數
目佔發售股份
總數的百分比


上市後所持


佔上市後已發行
股份總數的百分
比 股東 股份數目
最大 0 0.00% 0.00% 0.00% 50,000,000 75.00%
前 5 9,418,800 0.00% 68.93% 56.51% 59,418,800 89.13%
前 10 13,258,200 0.00% 97.03% 79.55% 63,258,200 94.89%
前 25 13,779,600 4.94% 100.8499.76% 82.68% 63,779,600 95.67%

備註
*股東排名基於股東在上市後所持的所有類別股份數量而定。
香港公開發售的分配準則
招股章程所載的條件獲達成後，公眾作出的有效申請將按下列準則有條件分配：


--- page 23 ---
所申請認購
的
H股數目

有效申請數目

分配╱抽簽基準
獲配發H股數目佔所申請
認購股份總數目的概約百
分比
300 2,414 0 股H股 3.79% 300 95 300 股H股
600 282 0 股H股 3.77% 600 23 300 股H股
900 997 0 股H股 3.66% 900 123 300 股H股
1,200 88 0 股H股 3.64% 1,200 15 300 股H股
1,500 84 0 股H股 3.53% 1,500 18 300 股H股
1,800 35 0 股H股 3.41% 1,800 9 300 股H股
2,100 36 0 股H股 3.34% 2,100 11 300 股H股
2,400 32 0 股H股 3.20% 2,400 11 300 股H股
2,700 19 0 股H股 2.99% 2,700 7 300 股H股
3,000 176 0 股H股 2.70% 3,000 65 300 股H股
4,500 489 0 股H股 2.32% 4,500 261 300 股H股
6,000 84 0 股H股 1.79% 6,000 47 300 股H股
7,500 25 0 股H股 1.73% 7,500 19 300 股H股
9,000 44 0 股H股 1.70% 9,000 46 300 股H股
10,500 146 0 股H股 1.70% 10,500 213 300 股H股
12,000 16 0 股H股 1.67% 12,000 32 300 股H股
13,500 7 0 股H股 1.65% 13,500 20 300 股H股
15,000 41 0 股H股 1.64% 15,000 189 300 股H股
30,000 74 300 股H股 1.64% 30,000 130 600 股H股
45,000 57 600 股H股 1.63% 45,000 47 900 股H股
60,000 73 900 股H股 1.63% 60,000 25 1,200 股H股
75,000 30 1,200 股H股 1.63% 75,000 2 1,500 股H股
90,000 4 1,200 股H股 1.63%


--- page 24 ---
90,000 30 1,500 股H股
105,000 12 1,500 股H股 1.62% 105,000 26 1,800 股H股
120,000 13 1,800 股H股 1.62% 120,000 12 2,100 股H股
135,000 14 2,100 股H股 1.61% 135,000 5 2,400 股H股
150,000 22 2,400 股H股 1.61% 150,000 1 2,700 股H股
180,000 10 2,700 股H股 1.61% 180,000 18 3,000 股H股
210,000 11 3,300 股H股 1.61% 210,000 4 3,600 股H股
240,000 1 3,600 股H股 1.60% 240,000 4 3,900 股H股
270,000 6 4,200 股H股 1.60% 270,000 4 4,500 股H股
300,000 33 4,800 股H股 1.60%
450,000 30 7,200 股H股 1.60%
600,000 66 8,100 股H股 1.36% 600,000 8 8,400 股H股
750,000 4 10,200 股H股 1.36%
833,400 27 11,100 股H股 1.36% 833,400 49 11,400 股H股
總數 7,071 3,002,100 股H股


截至本公告日期，此前存放於指定代理人戶口的相關認購款項已匯回至所有香港結算參與
者的賬戶。投資者如有任何查詢，請聯絡其相關投資經紀。
遵守上市規則和指引
董事確認，除上市規則已獲豁免及╱或已取得同意外，本公司已遵守有關本公司H 股配售、
配發及上市的上市規則及指引。
董事確認，就彼等所知，承配人或公眾人士（視情況而定）直接或間接就彼等認購或購買的
每股發售股份支付的代價與最終發售價相同除任何經紀佣金、會財局交易徵費、證監會交易
徵費及應付交易費外。
免責聲明


香港交易及結算所有限公司、香港聯合交易所有限公司 (「聯交所」)及香港中央結算有限公司
(「香港結算」)對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，且明確表
示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責
任。


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本公告不會直接或間接於或向美國（包括其領土及屬地、美國任何州以及哥倫比亞特區）發
佈、刊發或派發。本公告並不構成在美國境內購買或認購證券的任何要約或招攬或其組成部分。
本公告所述證券並無亦不會根據 1933 年美國證券法（經修訂）（「美國證券法」）登記。證
券不得在美國境內提呈發售或出售，惟根據美國證券法或適用的州證券法的登記規定獲
豁免者除外，亦不得於美國境外提呈發售或出售，惟遵守美國證券法 S 規例者除外。本公司不
會於美國境內公開發售證券。
發售股份根據美國證券法 S 規例於美國境外的離岸交易中提呈發售及出售。
本公告僅供參考，並不構成收購、購買或認購證券的邀請或要約。本公告並非招股章程。有意
投資者在決定是否投資於發售股份前，務請細閱西安經發物業股份有限公司所刊發日期為 2024
年 6 月 24 日的招股章程，以了解下文所述有關全球發售的詳細資料。
*發售股份的有意投資者務請注意，當符合招股章程中的「包銷 -包銷安排及開支– -香港公開
發售 ─終止理由」一段所載的任何條件時，聯席代表(為其本身及香港代表包銷商)可以將於
上市日(暫定為 2024 年 7 月 3 日上午八時正前(香港時間)即時終止包銷協議項下的責任。


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重新分配及配發予基石投資者
誠如招股章程所披露，各基石投資者已同意，倘香港公開發售的 H股需求總額符
合招股章程「全球發售的架構－ 香港公開發售－ 重新分配」一節所載的情況，經考
慮上市規則附錄 F1 的規定及光銀國際資本有限公司 （為其本身及代表國際包銷
商）行使超額配股權的酌情權後，各基石投資者將認購的發售股份數目將按比例
減少以彌補不足。此外，根據與基石投資者訂立的基石投資協議，倘香港公開發
售的 H股需求總額符合招股章程「全球發售的架構 － 香港公開發售－ 重新分配」一
節所載的情況，則基石投資者將認購的發售股份數目或會減少，而光銀國際資本
有限公司及本公司可酌情調整將配發予基石投資者的發售股份數目。由於香港公
開發售已獲超額認購但國際發售認購不足，因此，行使超額配股權的可能性不
大，而基石投資者所認購的發售股份數目並無根據上述機制按比例減少。
誠如招股章程所披露，光銀國際資本有限公司可酌情將初步分配至國際發售的發
售股份重新分配至香港公開發售，以根據《新上市申請人指南》第 4.14 章滿足在香
港公開發售項下甲組及乙組的有效申請。考慮到國際發售認購不足但香港公開發
售獲超額認購，合共 1,335,300  股發售股份已由國際發售重新分配至香港公開發
售，而基石投資者所認購的發售股份數目並無根據上述重新分配機制減少。於行
使該機制時，光銀國際資本有限公司已考慮到本公司的觀點，即基石投資具有長
期性質，且基石投資者的信心可能會影響市場對本公司的看法。
公眾持股量
董事確認，緊隨全球發售完成後： (i) 已發行股份總數的至少 25% 將由公眾人士
持有，符合上市規則第 8.08(1) 條的規定； (ii)H 股於上市時將由至少 300 名股東持
有，符合上市規則第 8.08(2) 條的規定； (iii) 三名最大公眾股東將不會持有上市時
公眾人士所持 H股的50% 以上，符合上市規則第 8.08(3) 條的規定； (iv) 概無承配人
將個別獲配售佔緊隨全球發售後本公司經擴大已發行股本 10% 以上的股份；及 (v)
本公司將並無任何新主要股東（定義見上市規則）。













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開始交易
倘全球發售已成為無條件以及招股章程「包銷」一節所述的終止權利並無獲行使，H股
股票方會於 2024 年7月3日（星期三）上午八時正成為有效。投資者如在收取股 票前
或股票成為有效前買賣 H股，須自行承擔一切風險。假設全球發售於 2024 年 7月
3日（星期三 ）上午八時正或之前成為無條件，預期 H股將於 2024 年7月3日（星期
三）上午九時正於香港聯交所開始買賣。 H股將以每手買賣單位 300 股H股以股份
代號1354 進行買賣。
承董事會命
西安經發物業股份有限公司
董事長兼執行董事
吳鎖正先生
香港，2024 年7月2日
於本公告日期，我們的董事會包括： (i)執行董事吳鎖正先生、孫琦先生及成宏讓
先生；(ii)非執行董事趙軍平先生、楊剛先生及李凌霄女士；及 (iii)獨立非執行董
事林兆榮先生、姜力博士及曹陽先生。

























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