hk-ipo/data/extracted_text/01384/allotment_results_2025-10-27_2025102701434.txt

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1
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “Stock Exchange ”)
and Hong Kong Securities Clearing Company Limited ( “HKSCC ”) take no responsibility for the contents of this
announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability
whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.
Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those
defined in the prospectus dated October 20, 2025 (the “Prospectus ”) issued by Deepexi Technology Co., Ltd. (߅
ʮ̡ ) (the “Company ”).
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
Hong Kong, 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 ”). The Offer
Shares may not be offered, sold, pledged or otherwise transferred within the United States, except pursuant to an
available exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act.
There will be no public offer of the Offer Shares 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, CITIC Securities (Hong Kong) Limited, CMBC International Capital Limited,
Guotai Junan Capital Limited, SPDB International Capital Limited and BOCOM International (Asia) Limited act as the
Joint Sponsors; CLSA Limited, CMBC Securities Company Limited, Guotai Junan Securities (Hong Kong) Limited,
SPDB International Capital Limited and BOCOM International Securities Limited act as the Overall Coordinators.
The Hong Kong Offer Shares will be offered to the public in Hong Kong subject to term and conditions set out in
the Prospectus. The Hong Kong Offer Shares will not be offered to any person who is outside Hong Kong and/or not
resident in Hong Kong.
Potential investors of the Offer Shares should note that the Overall Coordinators (for themselves and on behalf of the
Hong Kong Underwriters) shall be entitled to terminate the Hong Kong Underwriting Agreement with immediate effect
upon the occurrence of any of the events set out in the section headed “Underwriting {  Underwriting Arrangements
and Expenses {  Hong Kong Public Offering {  Grounds for Termination ” in the Prospectus at any time prior to 8:00
a.m. (Hong Kong time) on the Listing Date (which is currently expected to be on Tuesday, October 28, 2025).


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Deepexi Technology Co., Ltd.
ʮ̡
(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
: 26,632,000 H Shares
Number of Hong Kong Offer Shares : 5,326,400 H Shares (as adjusted after
 reallocation)
Number of International Offer Shares : 21,305,600 H Shares (as adjusted after
 reallocation)
Offer Price : HK$26.66 per H Share, plus brokerage of
1.0%, SFC transaction levy of 0.0027%,
AFRC transaction levy of 0.00015% and
Hong Kong 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 : 1384
Joint Sponsors, Overall Coordinators, Joint Global Coordinators,
Joint Bookrunners and Joint Lead Managers


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DEEPEXI TECHNOLOGY CO., LTD.
ʮ̡
ANNOUNCEMENT OF ALLOTMENT RESULTS
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same
meanings as those defined in the prospectus dated October 20, 2025 (the “Prospectus ”) issued by
Deepexi Technology Co., Ltd. (ʮ̡ ) (the “Company ”).
Warning: In view of high concentration of shareholding in a small number of Shareholders,
Shareholders and prospective investors should be aware that the price of the 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 1384
Stock short name DEEPEXI TECH
Dealings commencement date October 28, 2025*
* see note at the end of the announcement
Price Information
Offer Price HK$26.66
Offer Price Adjustment exercised N/A
Offer Shares and Share Capital
Number of Offer Shares 26,632,000
Number of Offer Shares in Public Offer (after reallocation) 5,326,400
Number of Offer Shares in International Offer (after
reallocation)
21,305,600
Number of issued shares upon Listing 326,632,000
Proceeds
Gross proceeds (Note) HK$710.01 million
Less: Estimated listing expenses payable based on Offer
Price
HK$(100.24) million
Net proceeds HK$609.77 million
Note: Gross proceeds refers to the amount to which the issuer is entitled to receive. Net proceeds represent the
estimated net proceeds calculated by the gross proceeds deducted by the estimated listing expenses payable
based on Offer Price. For details of the use of proceeds, please refer to the Prospectus dated October 20,
2025.


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ALLOTMENT RESULTS DETAILS
PUBLIC OFFER
No. of valid applications 236,934
No. of successful applications 25,192
Subscription level 7,569.83 times
Claw-back triggered Yes
No. of Offer Shares initially available under the Public Offer 1,331,600
Final no. of Offer Shares under the Public Offer (after
reallocation)
5,326,400
% of Offer Shares under the Public Offer to the Global
Offering
20.00%
Note: For details of the final allocation of shares to the Public Offer, investors can refer to https://www.hkeipo.hk/
iporesult to perform a search by name or identification number or https://www.hkeipo.hk/iporesult for the full
list of allottees.
INTERNATIONAL OFFER
No. of placees 159
Subscription Level 16.61 times
No. of Offer Shares initially available under the International
Offer
25,300,400
Final no. of Offer Shares under the International Offer (after
reallocation)
21,305,600
% of Offer Shares under the International Offer to the Global
Offering
80.00%


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The Directors confirm that, to the best of their knowledge, information and belief, (i) none of the
Offer Shares subscribed by the placees and the public have been financed directly or indirectly
by the Company, any of the Directors, chief executive of the Company, Controlling Shareholders,
substantial Shareholders, existing Shareholders of the Company or any of its subsidiaries or
their respective close associates; (ii) none of the placees and the public who have purchased
the Offer Shares are accustomed to taking instructions from the Company, any of the Directors,
chief executive of the Company, Controlling Shareholders, substantial Shareholders, existing
Shareholders of the Company or any of its subsidiaries or their respective close associates in
relation to the acquisition, disposal, voting or other disposition of Shares registered in his/her/its
name or otherwise held by him/her/it; (iii) there is no side agreement or arrangement between the
Company, any of the Directors, chief executive of the Company, the Controlling Shareholders,
substantial Shareholders, existing Shareholders of the Company or any of its subsidiaries or
their respective close associates, on one hand, and the public subscribers or the placees who
have subscribed for the Offer Shares, on the other hand; and (iv) no rebate has been, directly or
indirectly, provided by the Company, any of the Directors, chief executive of the Company, the
Controlling Shareholders, substantial Shareholders or existing Shareholders of the Company, or
any of their subsidiaries or their respective close associates, or syndicate members, or any other
brokers involved in the Global Offering, to any public investors in the Hong Kong Public Offering
or placees in the International Offering.


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The placees in the International Offering include the following:
Allottees with consents obtained:
Investor
No. of shares
allocated
% of offer
shares
% of total
issued H
Shares after
the Global
Offering
% of total
issued share
capital after
the Global
Offering Relationship*
Allotees with consents under paragraph 1C(1) of the Placing Guidelines in relation to allocations to connected clients and Chapter
4.15 of the Guide for New Listing Applicants
China Asset Management (Hong Kong)
Limited ( “China AMC HK ”) (Note 1)
3,600 H Shares 0.01% 0.001% 0.001% Connected client
as a placee
CITIC Securities International Capital
Management Limited ( “CSI CM ”) (Note 1)
186,400 H Shares 0.70% 0.06% 0.06% Connected client
as a placee
Note
1. For details of the consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide
for New Listing Applicants in relation to allocations to China AMC HK and CSI CM, please refer to the
section headed “Others/Additional Information – Placing to Connected Clients with a Prior Consent under
Paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide for New Listing Applicants ” in this
announcement.


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LOCK-UP UNDERTAKINGS
Key Persons (as defined under Rule 18C.14 of the Listing Rules)
Name
Number of shares
held in the Company
subject to lock-up
undertakings upon
listing
% of total issued
H-shares after the
Global Offering
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 (Notes 1&2)
Mr. Zhao Jiehui ( “Mr. Zhao ”) (Note 3) 49,468,200 H Shares 15.14% 15.14% October 27, 2026
Mr. Yang Lei ( “Mr. Yang ”) (Note 4) 11,711,400 H Shares 3.59% 3.59% October 27, 2026
Tianjin Deepexi Huachuang Enterprise
Management Consulting Partnership
(Limited Partnership) ( “Deepexi
Huachuang ”) (Note 5)
37,299,300 H Shares 11.42% 11.42% October 27, 2026
Guangzhou Deepexi Huaying Enterprise
Management Consulting Partnership
(Limited Partnership)( “Deepexi
Huaying ”) (Note 5)
6,364,500 H Shares 1.95% 1.95% October 27, 2026
Subtotal 104,843,400 H Shares 32.10% 32.10%
Notes
1. In addition to the lock-up requirements under PRC Company law and Rule 18C.14 of the Listing Rules, pursuant
to the shareholders agreement dated February 6, 2025, as long as any of Tianjin Dehui, Pleasure Focus Limited,
HH AUT, CHH AUT, Zhuhai Songheng Enterprise Management Partnership (Limited Partnership) ( मऎ੩㛬Ά
ุ၍ଣΥྫΆุ (Υྫ )), Zhuhai Gaoling Zhike Equity Investment Partnership (Limited Partnership) ( मऎ
ᛆҳ༟ΥྫΆุ (Υྫ )), 5Y Evolution Holding II, Jiequan Fund, Xinyuan Fund and Youxuan
Fund holds the Shares of the Company, neither Mr. Zhao nor Mr. Yang shall dispose of more than 15% of the
Shares they held as at the Listing Date without the written consent of such investors. Such lock-up requirement
will be released upon the date on which such investors received 100% or more of their respective investment
return.
2. All existing Shareholders shall not dispose of any of the Shares held by them within the 12 months following
the Listing Date as required under the applicable PRC laws. In accordance with Rule 18C.14(1) of the Listing
Rules, the required lock-up period commences on the date by reference to which disclosure of its shareholding
is made in the Prospectus and end on the date which is 12 months from the Listing Date, being the same date on
which the restriction against disposal of Shares under the applicable PRC laws ends.
3. Mr. Zhao is a member of the Controlling Shareholders Group, the founder, executive Director, chairman of the
Board and chief executive officer of the Group.
4. Mr. Yang is a member of the Controlling Shareholders Group, the co-founder, executive Director and president
of the product and solution staff team (PSST) of the Group.
5. Deepexi Huachuang and Deepexi Huaying are a member of the Controlling Shareholders Group, respectively,
and are employee shareholding platforms controlled by Mr. Zhao.


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Pathfinder SIIs
Name (Note 2)
Number of shares
held in the Company
subject to lock-up
undertakings upon
listing
% of total issued
H-shares after the
Global Offering
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 (Notes 1)
CHH AUT-XV HK Holdings Limited
(“CHH AUT ”) and HH AUT-XV HK
Holdings Limited ( “HH AUT ”)
17,343,900 H Shares 5.31% 5.31% October 27, 2026
Evolution Holding II Limited ( “5Y
Evolution Holding II ”)
17,714,700 H Shares 5.42% 5.42% October 27, 2026
Tianjin Dehui Investment Management
Partnership (Limited Partnership)
(“Tianjin Dehui ”)
19,815,600 H Shares 6.07% 6.07% October 27, 2026
Jiangsu Jiequan Green Industry Equity
Investment Fund (Limited Partnership)
(“Jiequan Fund ”), Jiangsu Xingtou
Xinyuan Equity Investment Fund
(Limited Partnership) ( “Xinyuan
Fund”) and Beijing Xingtou Youxuan
Entrepreneurship Investment Fund
(Limited Partnership) ( “Youxuan Fund ”)
17,745,300 H Shares 5.43% 5.43% October 27, 2026
Subtotal 72,619,500 H Shares 22.23% 22.23%
Notes
1. All existing Shareholders shall not dispose of any of the Shares held by them within the 12 months following
the Listing Date as required under the applicable PRC laws. In accordance with Rule 18C.14(2) of the Listing
Rules, the required lock-up period commences on the date by reference to which disclosure of its shareholding
is made in the Prospectus and ends on the date which is six months from the Listing Date.
2. Each of the Shareholders listed in the above table is a pathfinder SII of the Company as defined under Chapter
2.5 of the Guide for New Listing Applicants.


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Controlling Shareholders
Name
Number of shares held
in the Company subject
to lock-up undertakings
upon listing
% of total issued
H-shares after the
Global Offering
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 (Notes 1&2)
Mr. Zhao 49,468,200 H Shares 15.14% 15.14% October 27, 2026
Mr. Yang 11,711,400 H Shares 3.59% 3.59% October 27, 2026
Deepexi Huachuang 37,299,300 H Shares 11.42% 11.42% October 27, 2026
Deepexi Huaying 6,364,500 H Shares 1.95% 1.95% October 27, 2026
Subtotal 104,843,400 H Shares 32.10% 32.10%
Notes
1. In addition to the lock-up requirements under PRC Company law and Rule 18C.14 of the Listing Rules, pursuant
to the shareholders agreement dated February 6, 2025, as long as any of Tianjin Dehui, Pleasure Focus Limited,
HH AUT, CHH AUT, Zhuhai Songheng Enterprise Management Partnership (Limited Partnership) ( मऎ੩㛬Ά
ุ၍ଣΥྫΆุ (Υྫ )), Zhuhai Gaoling Zhike Equity Investment Partnership (Limited Partnership) ( मऎ
ᛆҳ༟ΥྫΆุ (Υྫ )), 5Y Evolution Holding II, Jiequan Fund, Xinyuan Fund and Youxuan
Fund holds the Shares of the Company, neither Mr. Zhao nor Mr. Yang shall dispose of more than 15% of the
Shares they held as at the Listing Date without the written consent of such investors. Such lock-up requirement
will be released upon the date on which such investors received 100% or more of their respective investment
return.
2. All existing Shareholders (including the Controlling Shareholders) shall not dispose of any of the Shares held by
them within the 12 months following the Listing Date as required under the applicable PRC laws. In accordance
with Rule 18C.13(1) of the Listing Rules, the required lock-up period commences on the date by reference to
which disclosure of its shareholding is made in the Prospectus and end on the date which is 12 months from the
Listing Date, being the same date on which the restriction against disposal of Shares under the applicable PRC
laws ends.


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10
Pre-IPO Investors (as defined in the Prospectus)
Name (Note 1)
Number of shares held
in the Company subject
to lock-up undertakings
upon listing
% of total issued
H-shares after the
Global Offering
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 (Note 2)
All Pre-IPO Investors (except for
Pathfinder SIIs as set out in the above)
122,537,100 H Shares 37.52% 37.52% October 27, 2026
Subtotal 122,537,100 H Shares 37.52% 37.52%
Notes
1. Please see “History, Development and Corporate Structure – Pre-IPO Investments ” in the Prospectus for the
identities of the Pre-IPO Investors other than the Pathfinder SIIs.
2. All existing Shareholders (including the Controlling Shareholders) shall not dispose of any of the Shares held
by them within the 12 months following the Listing Date as required under the applicable PRC laws.
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 6,001,400 28.17% 22.53% 6,001,400 1.84%
Top 5 15,359,600 72.09% 57.67% 15,359,600 4.70%
Top 10 16,978,600 79.69% 63.75% 16,978,600 5.20%
Top 25 19,742,400 92.66% 74.13% 19,742,400 6.04%
Note
* Ranking of placees is based on the number of H Shares allotted to the placees.
H SHAREHOLDERS CONCENTRATION ANALYSIS
H Shareholders*
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 0 0.00% 0.00% 104,843,400 32.10% 104,843,400
Top 5 0 0.00% 0.00% 189,016,800 57.87% 189,016,800
Top 10 0 0.00% 0.00% 258,256,500 79.07% 258,256,500
Top 25 14,722,000 69.10% 55.28% 312,940,000 95.81% 312,940,000
Note
* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.


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SHAREHOLDER CONCENTRATION ANALYSIS
Shareholders*
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 0 0.00% 0.00% 104,843,400 104,843,400 32.10%
Top 5 0 0.00% 0.00% 189,016,800 189,016,800 57.87%
Top 10 0 0.00% 0.00% 258,256,500 258,256,500 79.07%
Top 25 14,722,000 69.10% 55.28% 312,940,000 312,940,000 95.81%
Note
* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.


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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
POOL A
200 108,817 3,265 out of 108,817 applicants to receive 200 H Shares 3.00%
400 14,151 518 out of 14,151 applicants to receive 200 H Shares 1.83%
600 6,269 258 out of 6,269 applicants to receive 200 H Shares 1.37%
800 4,167 186 out of 4,167 applicants to receive 200 H Shares 1.12%
1,000 5,818 277 out of 5,818 applicants to receive 200 H Shares 0.95%
1,200 2,310 116 out of 2,310 applicants to receive 200 H Shares 0.84%
1,400 1,594 84 out of 1,594 applicants to receive 200 H Shares 0.75%
1,600 1,789 98 out of 1,789 applicants to receive 200 H Shares 0.68%
1,800 5,700 321 out of 5,700 applicants to receive 200 H Shares 0.63%
2,000 9,376 543 out of 9,376 applicants to receive 200 H Shares 0.58%
3,000 4,246 277 out of 4,246 applicants to receive 200 H Shares 0.43%
4,000 4,048 286 out of 4,048 applicants to receive 200 H Shares 0.35%
5,000 2,482 187 out of 2,482 applicants to receive 200 H Shares 0.30%
6,000 1,840 146 out of 1,840 applicants to receive 200 H Shares 0.26%
7,000 1,375 114 out of 1,375 applicants to receive 200 H Shares 0.24%
8,000 1,552 134 out of 1,552 applicants to receive 200 H Shares 0.22%
9,000 1,000 89 out of 1,000 applicants to receive 200 H Shares 0.20%
10,000 7,925 727 out of 7,925 applicants to receive 200 H Shares 0.18%
20,000 5,940 665 out of 5,940 applicants to receive 200 H Shares 0.11%
30,000 3,752 471 out of 3,752 applicants to receive 200 H Shares 0.08%
40,000 3,452 471 out of 3,452 applicants to receive 200 H Shares 0.07%
50,000 2,356 343 out of 2,356 applicants to receive 200 H Shares 0.06%
60,000 1,889 290 out of 1,889 applicants to receive 200 H Shares 0.05%
70,000 1,502 241 out of 1,502 applicants to receive 200 H Shares 0.05%
80,000 1,657 276 out of 1,657 applicants to receive 200 H Shares 0.04%
90,000 1,154 199 out of 1,154 applicants to receive 200 H Shares 0.04%
100,000 2,536 450 out of 2,536 applicants to receive 200 H Shares 0.04%
120,000 1,912 357 out of 1,912 applicants to receive 200 H Shares 0.03%
140,000 1,504 294 out of 1,504 applicants to receive 200 H Shares 0.03%
160,000 1,682 341 out of 1,682 applicants to receive 200 H Shares 0.03%
180,000 6,166 1,292 out of 6,166 applicants to receive 200 H Shares 0.02%
Total 219,961 Total number of Pool A successful applicants: 13,316


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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
POOL B
200,000 6,261 2,505 out of 6,261 applicants to receive 200 H Shares 0.04%
300,000 2,264 1,342 out of 2,264 applicants to receive 200 H Shares 0.04%
400,000 1,728 1,354 out of 1,728 applicants to receive 200 H Shares 0.04%
500,000 1,637 1,592 out of 1,637 applicants to receive 200 H Shares 0.04%
665,800 5,083 200 H Shares plus 1,440 out of 5,083 applicants to receive an
additional 200 H Shares
0.04%
Total 16,973 Total number of Pool B successful applicants: 11,876
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 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 Offer Price in addition to any brokerage, AFRC transaction
levy, SFC transaction levy and trading fee payable.
The Directors and the Overall Coordinators confirm that at least 50% of the total number of
the Offer Shares have been allocated to and taken up by independent price setting investors in
compliance with Rule 18C.08 of the Listing Rules.
The Directors further confirm that at least 20% of the issued share capital of the Company will be
held by sophisticated independent investors at the time of Listing in compliance with Chapter 2.5
of the Guide for New Listing Applicants.


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14
OTHERS/ADDITIONAL INFORMATION
Placing to Connected Clients with a Prior Consent under Paragraph 1C(1) of the Placing
Guidelines and Chapter 4.15 of the Guide for New Listing Applicants
Under the International Offering, certain Offer Shares were placed to connected clients of a
distributor pursuant to the Placing Guidelines.
Details of the placement to connected clients are set out below.
Placee
Connected
distributor Relationship
Whether the
connected client
will hold beneficial
interests of Offer
Shares on a
nondiscretionary or
discretionary basis
for independent third
parties  (Note 3)
Number
of Offer
Shares to be
allocated to
the connected
client
% of Offer
Shares
% of total
issued
Shares after
the Global
Offering
China AMC HK (Note 1) CLSA Limited
(“CLSA”)
China AMC HK is a member of
the same group of companies as
CLSA.
Discretionary basis 3,600
H Shares
0.01% 0.001%
CSI CM (Note 2) CLSA CSI CM is a member of the
same group of companies as
CLSA.
Non-discretionary basis 186,400
H Shares
0.70% 0.06%
Notes
1. China AM HK is a delegate of the investment manager of its underlying clients ( “China AM HK Ultimate
Clients ”) and manages assets (in its capacity as an investment advisor of the China AM HK Ultimate Clients)
and executes trades (in its capacity as a delegate of the investment manager of China AM HK Ultimate
Clients) on behalf of China AM HK Ultimate Clients. To the best knowledge of China AM HK after making
all reasonable enquiries, (i) each of the China AM HK Ultimate Clients is an independent third party of the
Company, the Company ’s subsidiaries, substantial shareholders and Controlling Shareholders, CLSA, China AM
HK and the companies which are members of the same group of companies as CLSA; and (ii) China AM HK is
not a collective investment scheme which is not authorised by the SFC.
2. CSI CM will act as the single counterparty of a back-to-back total return swap transaction (the “CSI CM
Back-to-back TRS ”) to be entered into by CSI CM in connection with a total return swap order (the “CSI CM
Client TRS ”) placed and fully funded by its ultimate clients (the “CSI CM Ultimate Client(s) ”), by which
CSI CM will pass the full economic exposure of the Offer Shares placed to CSI CM to the CSI CM Ultimate
Clients. CSI CM will hold the beneficial interest of the Offer Shares on behalf of the CSI CM Ultimate Client
on a non-discretionary basis. The CSI CM Ultimate Client may exercise an early termination right to early
terminate the CSI CM Client TRS at any time from the trade date of the CSI CM Client TRS which should
be on or after the date on which the Offer Shares are listed on the Stock Exchange. Upon the final maturity
or termination of the CSI CM Client TRS by the CSI CM Ultimate Client, CSI CM will dispose of the Offer
Shares on the secondary market and the CSI CM Ultimate Client will receive a final termination amount of the
CSI CM Back-to-back TRS which should have taken into account all the economic returns or economic loss in
relation to the Offer Shares and the fixed amount of transaction fees of the CSI CM Back-to-back TRS and the
CSI CM Client TRS. CSI CM will not exercise the voting right of the Offer Shares during the terms of the CSI
CM Back-to-back TRS. To the best knowledge of CSI CM after making all reasonable enquiries, (i) each of the
CSI CM Ultimate Clients is an independent third party of the Company, the Company ’s subsidiaries, substantial
shareholders and Controlling Shareholders, CLSA, CSI CM  and the companies which are members of the same
group of companies as CLSA; and (ii) CSI CM is not a collective investment scheme which is not authorised by
the SFC.


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3.  For the avoidance of doubt, the “independent third parties ” referred to in this announcement have been assessed
with reference to footnote 6 to paragraph 6 of Chapter 4.15 of the Guide for New Listing Applicants, and
the Overall Coordinators have confirmed that each of the abovementioned underlying clients/funds and their
respective ultimate beneficial owners meet the relevant definition of independent third parties.
The Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a
consent under paragraph 1C(1) of the Placing Guidelines to permit the Company to allocate such
Offer Shares in the International Offering to the connected clients listed above. The allocation of
Offer Shares to such connected clients is in compliance with all the conditions under the consent
granted by the Stock Exchange.
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
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 October 20, 2025 issued by Deepexi Technology
Co., Ltd. (ʮ̡ ) 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 Overall Coordinators (for
themselves and on behalf of the Hong Kong Underwriters) shall be entitled to terminate
the Hong Kong Underwriting Agreement with immediate effect upon the occurrence of any
of the events set out in the section headed “Underwriting – Underwriting Arrangements
and Expenses – Hong Kong Public Offering – Grounds for Termination ” in the Prospectus
at any time prior to 8:00 a.m. (Hong Kong time) on the Listing Date (which is currently
expected to be on Tuesday, October 28, 2025).


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PUBLIC FLOAT AND FREE FLOAT
Immediately following the completion of the Global Offering, an aggregate of 221,788,600 H
Shares, representing approximately 67.90% of the total number of shares in the class to which H
Shares belong of our Company will be counted towards the public float. Therefore, the number of
H Shares held in public hands is higher than the prescribed percentage of H Shares required to be
held in public hands of 17.23% of the total number of shares in the class to which H Shares belong
under Rule 19A.13A(1) of the Listing Rules. The Directors confirm that, immediately following
the completion of the Global Offering, (i) no placee will, individually, be placed more than 10% of
the enlarged issued share capital of the Company immediately after the Global Offering; (ii) there
will not be any new substantial Shareholder immediately after the Global Offering; (iii) the three
largest public shareholders of the Company do not hold more than 50% of the H shares in public
hands at the time of the Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules;
and (iv) there will be at least 300 Shareholders at the time of the Listing in compliance with Rule
8.08(2) of the Listing Rules.
Based on an Offer Price of HK$26.66 per Offer Share, the Company will satisfy the free float
requirement under Rule 19A.13C(1) of the Listing Rules.
COMMENCEMENT OF DEALINGS
H Share certificates will only become valid at 8:00 a.m. on Tuesday, October 28, 2025 (Hong Kong
time), 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 H Share certificates or the H 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 Tuesday, October 28, 2025 (Hong Kong time), it is expected that dealings
in our H Shares on the Stock Exchange will commence at 9:00 a.m. on Tuesday, October 28, 2025
(Hong Kong time). The H Shares will be traded in board lots of 200 H Shares each. The stock code
of the H Shares will be 1384.
By order of the Board
Deepexi Technology Co., Ltd.
Mr. Zhao Jiehui
Chairman of the Board, Executive Director and Chief Executive Officer
Beijing, October 27, 2025
As at the date of this announcement, the board of directors of the Company comprises: (i) Mr.
Zhao Jiehui, Mr. Yang Lei, Dr. Li Qiang, Mr. Cao Lianfei and Ms. Shi Yi as executive Directors;
(ii) Mr. Wang Zhenghao as non-executive Director; and (iii) Dr. Yang Hongxia, Dr. Kong
Xianguang and Mr. Zhang Jielong as independent non-executive Directors.