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geometrybase 8a0dfd88f0 Make PDF text extraction a standard archive step 
Request:
- Add extracted PDF text generation to the archivist workflow as a standard step.

Changes:
- Run PDF text extraction automatically for newly archived HKEX PDF sources.
- Make the PDF text extractor incremental and manifest-preserving.
- Document extracted-text handling in the archivist skill and README.
- Mark generated extracted text as no-diff data evidence.
- Backfill extracted text for all archived PDF source references.

Verification:
- Ran git diff --cached --check.
- Ran .venv/bin/python -m py_compile scripts/extract_pdf_text.py scripts/archive_hkex_documents.py.
- Ran full PDF extraction, then confirmed an incremental rerun skips unchanged files.
- Verified 557 PDF source_refs, 557 manifest rows, all status ok, and zero missing text/hash/path issues.

Next useful context:
- HKEX HTML notices and Yahoo JSON market data remain under data/raw and are not expected in data/extracted_text.
2026-06-15 13:27:41 +00:00

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--- page 1 ---
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 herein, capitalized terms used in this announcement shall have the same meanings as those
defined in the prospectus dated November 30, 2023 (the “Prospectus ”) issued by Xiamen Yan Palace Bird ’s Nest
Industry Co., Ltd. (ʮ̡ ) (the “Company ”).
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase
or subscribe for securities of the Company. This announcement is not a prospectus. 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 provided in the Prospectus.
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, and is not intended to, constitute or form a part of any offer to sell or solicitation to purchase
or subscribe for any securities in the United States or in any other jurisdiction. The Offer Shares have not been, and
will not be, registered under the U.S. Securities Act of 1933, as amended from time to time (the “U.S. Securities
Act”) or securities law of any state or other jurisdiction of the United States and 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 and in compliance with any applicable state
securities laws. There will be no public offer of the Offer Shares in the United States. The Offer Shares are being
offered and sold solely outside the United States in offshore transactions in reliance on Regulation S under the U.S.
Securities Act.
In connection with the Global Offering, GF Securities (Hong Kong) Brokerage Limited as stabilizing manager
(the “Stabilizing Manager ”), its affiliates or any person acting for it, on behalf of the Underwriters, may effect
transactions with a view to stabilizing or supporting the market price of the 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, its affiliates or any person acting for it to conduct any such stabilizing action, which, if commenced, will be
done 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 Saturday, January
6, 2024, being the 30th day after the last day for lodging of applications under the Hong Kong Public Offering. Such
stabilization action, if taken, 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).
In connection with the Global Offering, China International Capital Corporation Hong Kong Securities Limited and
GF Capital (Hong Kong) Limited together act as the Joint Sponsors; China International Capital Corporation Hong
Kong Securities Limited and GF Securities (Hong Kong) Brokerage Limited together act as the Overall Coordinators;
China International Capital Corporation Hong Kong Securities Limited, GF Securities (Hong Kong) Brokerage Limited
and Citigroup Global Markets Asia Limited together act as the Joint Global Coordinators; and China International
Capital Corporation Hong Kong Securities Limited, GF Securities (Hong Kong) Brokerage Limited, Citigroup Global
Markets Asia Limited (in relation to the Hong Kong Public Offering), Citigroup Global Markets Limited (in relation
to the International Offering), Valuable Capital Limited, Futu Securities International (Hong Kong) Limited and Tiger
Brokers (HK) Global Limited together act as the Capital Market Intermediaries.
--- page 2 ---
2
Potential investors should be aware that stabilizing action cannot be taken to support the price of the Shares for longer
than the stabilization period which begins on the Listing Date and is expected to expire on Saturday, January 6, 2024,
being the 30th day after the last day for lodging applications under the Hong Kong Public Offering. After this date, no
further stabilizing action may be taken, and demand for the Shares and the price of the Shares could fall.
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, December 12, 2023).
In connection with the Global Offering, the Company is expected to grant the Over-allotment Option to the
International Underwriters, exercisable by the Overall Coordinators (for themselves and on behalf of the International
Underwriters). Pursuant to the Over-allotment Option, the International Underwriters will have the right, exercisable
by the Overall Coordinators (on behalf of the International Underwriters) at any time from the Listing Date until 30
days after the last day for lodging applications under the Hong Kong Public Offering (being Saturday, January 6,
2024), to require the Company to issue up to an aggregate of 4,800,000 additional Offer Shares, representing 15% of
the number of Offer Shares initially available under the Global Offering at the Offer Price to cover over-allocations in
the International Offering, if any.
--- page 3 ---
3
XIAMEN YAN PALACE BIRD ’S NEST INDUSTRY 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
: 32,000,000 H Shares (subject to
the Over-allotment Option)
Number of Hong Kong Offer Shares : 12,800,000 H Shares (as adjusted
after reallocation)
Number of International Offer Shares : 19,200,000 H Shares (as adjusted
after reallocation and subject to the
Over-allotment Option)
Final Offer Price : HK$9.70 per H Share, plus brokerage
of 1%, SFC transaction levy of 0.0027%,
AFRC transaction levy of 0.00015% and
Stock Exchange trading fee of 0.00565%
Nominal value : RMB0.2 per H Share
Stock code : 1497
Joint Sponsors
Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers
Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager
--- page 4 ---
XIAMEN YAN PALACE BIRD'S NEST INDUSTRY CO., LTD. / 廈門燕之屋燕窩產業
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 30 November 2023 (the “Prospectus”) issued by Xiamen Yan
Palace Bird's Nest Industry Co., Ltd. (廈門燕之屋燕窩產業股份有限公司) (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 1497
Stock short name YAN PALACE
Dealings commencement date 12 December 2023*
*see note at the end of the announcement
Price Information
Final Offer Price HK$9.700
Offer Price Range HK$8.800 - HK$11.000
Offer Price Adjustment exercised No
Offer Shares and Share Capital
Number of Offer Shares 32,000,000
Number of Offer Shares in Public Offer (after reallocation) 12,800,000
Number of offer shares in International Offer (after
reallocation)
19,200,000
Number of issued shares upon Listing 465,500,000
The number of offer shares above is determined after taking into account the additional shares issued
under the following Offer Size Adjustment Option
Offer Size Adjustment Option (Upsize option)
Number of additional shares issued under the option -
- Public Offer -
- International Offer -
Over-allocation
No. of Offer Shares over-allocated 4,800,000
Such over-allocation may be covered by exercising the Over-allotment Option or by making purchases
in the secondary market at prices that do not exceed the Offer Price or through deferred delivery or a
combination of these means. In the event the Over-allotment Option is exercised, an announcement will
be made on the Stock Exchange’s website.
Proceeds
Gross proceeds (Note) HK$ 310.40 million
--- page 5 ---
Less: Estimated listing expenses payable based on Final
Offer Price
HK$ (53.94) million
Net proceeds HK$ 256.46 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 30 November 2023.
ALLOTMENT RESULTS DETAILS
PUBLIC OFFER
No. of valid applications 11,440
No. of successful applications 4,655
Subscription level 83.63 times
Claw-back triggered Yes
No. of Offer Shares initially available under the Public Offer 3,200,000
No. of Offer Shares reallocated from the International Offer (claw-
back)
9,600,000
Final no. of Offer Shares under the Public Offer (after
reallocation)
12,800,000
% of Offer Shares under the Public Offer to the Global Offering 40.00%
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 158
Subscription Level 1.27 times
No. of Offer Shares initially available under the International
Offer
28,800,000
No. of Offer Shares reallocated to the Public Offer (claw-back) 9,600,000
Final no. of Offer Shares under the International Offer (after
reallocation)
24,000,000
% of Offer Shares under the International Offer to the Global
Offering
60.00%
The Directors confirm that, to the best of their knowledge, information and belief, (i) none of the Offer Shares
subscribed by the placees and the public have been financed directly or indirectly by the Company, any of the
Directors, 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 Shares registered in
his/her/its name or otherwise held by him/her/it.
--- page 6 ---
The placees in the International Offer include the following:
Cornerstone Investors
Investor
No. of
Offer
Shares
allocated
% of Offer
Shares
% of total
issued H
Shares after
the Global
Offering
% of total
issued share
capital after the
Global Offering
Existing
shareholders or
their close
associates
PT. Anugerah
Citra Walet
Indonesia
4,010,000 12.53% 1.22% 0.86% No
PT Esta
Indonesia 2,411,200 7.54% 0.73% 0.52% No
PT Niaga
Cakrawala
Sukses
2,411,200 7.54% 0.73% 0.52% No
WU Chen / 吳琛 1,607,200 5.02% 0.49% 0.35% No
Value Partners
Hong Kong
Limited and
Value Partners
Limited
1,607,200 5.02% 0.49% 0.35% No
WONG Sing
Kwong Cyrus /
黃成光
803,600 2.51% 0.24% 0.17% No
Total 12,850,400 40.16% 3.91% 2.76%
Allottee with waiver/consent 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*
China Southern
Asset
Management
Co., Ltd. / 南方
基金管理股份
有限公司
520,000 1.63% 0.16% 0.11% Connected
client, and Non-
SFC authorised
fund
Total 520,000 1.63% 0.16% 0.11%
#The H Shares placed to the above allottee are held on behalf of independent third parties (as defined in the
Guidance Letter HKEX-GL85-16) and are in compliance with all the conditions under the consent granted by
the Stock Exchange.
--- page 7 ---
Allottees who are customer(s) or client(s) / supplier(s) of the issuer
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*
PT. Anugerah
Citra Walet
Indonesia
4,010,000 12.53% 1.22% 0.86% Supplier of the
issuer
PT Esta
Indonesia 2,411,200 7.54% 0.73% 0.52% Supplier of the
issuer
PT Niaga
Cakrawala
Sukses
2,411,200 7.54% 0.73% 0.52% Supplier of the
issuer
Total 8,832,400 27.6% 2.69% 1.90%
LOCK-UP UNDERTAKINGS
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 (assuming
the Over-allotment
Option is not
exercised)
Last day
subject to the
lock-up
undertakings
Note 3
Xiamen
Shuangdanma
Industrial
Development Co.,
Ltd. ("Xiamen
Suntama") / 廈門市
雙丹馬實業發展有限
公司 Note 1
91,785,560
(including
45,892,780 H
Shares)
13.95% 19.72%
11 December
2024
ZHENG Wenbin / 鄭
文濱 Note 2
33,273,040
(including
16,636,520 H
Shares)
5.06% 7.15%
11 December
2024
LI Youquan / 李有泉
33,249,145
(including
16,624,575 H
Shares)
5.05% 7.14%
11 December
2024
XUE Fengying / 薛鳳
英 Note 2 8,625,000 2.62% 1.85% 11 December
2024
Xiamen Jinyan
Tengfei Equity
Investment
Partnership (Limited
Partnership) ("Jinyan
Tengfei LP") / 廈門
8,208,320 2.50% 1.76%
11 December
2024
--- page 8 ---
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 (assuming
the Over-allotment
Option is not
exercised)
Last day
subject to the
lock-up
undertakings
Note 3
金燕騰飛股權投資合
夥企業(有限合夥)
Note 1
HUANG Jian / 黃健
Note 1 4,335,000 1.32% 0.93% 11 December
2024
Subtotal 179,476,065
(including
100,322,195 H
Shares)
30.50% 38.56%
Notes:
1. As of the Latest Practicable Date, Xiamen Suntama is an entity controlled by Mr. HUANG Jian, and Mr.
HUANG was the sole general partner of Jinyan Tengfei LP . Therefore, Mr. HUANG is deemed to be
interested in the Shares in which Xiamen Suntama and Jinyan Tengfei LP are respectively interested in.
2. Ms. XUE Fengying is the spouse of Mr. ZHENG Wenbin. Accordingly, they are deemed to be interested
in the same number of Shares of each other.
3. The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Law.
Pre-IPO Investors (as defined in the “History, Development and Corporate Structure” section of the
Prospectus)
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 (assuming
the Over-allotment
Option is not
exercised)
Last day
subject to the
lock-up
undertakings
Note 3
Xiamen Guangyao
Tianxiang Equity
Investment
Partnership LP
("Guangyao
Tianxiang LP") / 廈
門光耀天祥股權投
資合夥企業(有限合
夥) Note 1
60,000,000
(including
30,000,000 H
Shares)
9.12% 12.89% 11 December
2024
Xiamen Jinyanlai
Investment
Partnership (Limited
41,666,670 12.67% 8.95% 11 December
2024
--- page 9 ---
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 (assuming
the Over-allotment
Option is not
exercised)
Last day
subject to the
lock-up
undertakings
Note 3
Partnership) / 廈門金
燕來投資合夥企業
(有限合夥)
Beijing Hongyan
Equity Investment
Center (Limited
Partnership) / 北京弘
燕股權投資中心(有
限合夥)
38,857,460 11.81% 8.35% 11 December
2024
HU Qiaohong / 胡巧
紅
32,978,655
(including
16,489,325 H
Shares)
5.01% 7.08% 11 December
2024
Fujian Yangming
Kangyi
Biopharmaceutical
Venture Capital LP
("Yangming Kangyi
LP") / 福建陽明康怡
生物醫藥創業投資
企業(有限合夥) Note 2
16,666,665
(including
8,333,335 H
Shares)
2.53% 3.58% 11 December
2024
ZENG Huanrong / 曾
煥容
15,646,665 4.76% 3.36% 11 December
2024
LIU Zhen / 劉震 Note 1 12,020,475 3.65% 2.58% 11 December
2024
HUANG Jincheng /
黃進成
11,250,000 3.42% 2.42% 11 December
2024
SHI Tao / 師濤 5,208,335
(including
2,604,165 H
Shares)
0.79% 1.12% 11 December
2024
Xiamen Torch
Industrial
Development Equity
Investment Fund Co.,
Ltd. / 廈門火炬產業
發展股權投資基金
有限公司
4,166,665 1.27% 0.90% 11 December
2024
Jinjiang Tianyi Runli
Equity Investment
Partnership (Limited
Partnership) / 晉江天
4,166,665 1.27% 0.90% 11 December
2024
--- page 10 ---
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 (assuming
the Over-allotment
Option is not
exercised)
Last day
subject to the
lock-up
undertakings
Note 3
壹潤禮股權投資合
夥企業(有限合夥)
HUANG Wenxiao /
黃文小
3,998,335 1.22% 0.86% 11 December
2024
Pingtan Jinjun
Hongyan Investment
Partnership LP
("Jinjun Hongyan
LP") / 平潭金駿鴻燕
投資合夥企業(有限
合夥) Note 2
2,777,780 0.84% 0.60% 11 December
2024
ZHANG Qing / 張青 2,083,335 0.63% 0.45% 11 December
2024
WU Junjie / 吳俊傑 2,083,335 0.63% 0.45% 11 December
2024
Subtotal 253,571,040
(including
196,144,210 H
Shares)
59.63% 54.47%
Notes:
1. Xiamen Guangyao Tianxiang Investment Co., Ltd. is the sole general partner of Guangyao Tianxiang
LP. Mr. LIU Zhen held 80% of the limited partnership interests of Guangyao Tianxiang LP and controls
Xiamen Guangyao Tianxiang Investment. Co., Ltd. as of the Latest Practicable Date. Mr. LIU is
therefore deemed to be interested in the Shares held by Guangyao Tianxiang LP.
2. Fujian Yangming Venture Capital Co., Ltd. ( 福建陽明創業投資有限公司) (“Yangming Venture”) is
the general partner of both of Yangming Kangyi LP and Jinjun Hongyan LP, and therefore Yangming
Venture is deemed to be interested in the interests held by Yangming Kangyi LP and Jinjun Hongyan
LP.
3. The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Law.
Directors
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
Note 4
ZHENG Wenbin / 鄭
文濱 Note 1
33,273,040
(including
16,636,520 H
Shares)
5.06% 7.15% 11 December
2024
--- page 11 ---
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
Note 4
LI Youquan / 李有泉
33,249,145
(including
16,624,575 H
Shares)
5.05% 7.14% 11 December
2024
LIU Zhen / 劉震 Note 2 12,020,475 3.65% 2.58% 11 December
2024
HUANG Jian / 黃健
Note 3 4,335,000 1.32% 0.93% 11 December
2024
Subtotal 82,877,660
(including
49,616,570 H
Shares)
15.08% 17.80%
Notes:
1. Ms. XUE Fengying is the spouse of Mr. ZHENG Wenbin. Accordingly, they are deemed to be interested
in the same number of Shares of each other. Please refer to the section headed "Lock -up Undertakings
– Controlling Shareholders" above for further details.
2. Mr. LIU is deemed to be interested in the Shares held by Guangyao Tianxiang LP. Please refer to the
section headed "Lock-up Undertakings – Pre-IPO Investors" above for further details.
3. Mr. HUANG is deemed to be interested in the Shares in which Xiamen Suntama and Jinyan Tengfei
LP are respectively interested in. Please refer to the section headed "Lock -up Undertakings –
Controlling Shareholders" above for further details.
4. The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Law.
Existing Shareholders (other than the Pre-IPO Investors as defined in the “History, Development and
Corporate Structure” section of the Prospectus)
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
(assuming the
Over-allotment
Option is not
exercised)
Last day
subject to the
lock-up
undertakings
Note
CHEN Zhigao /陳志
高
226,450 0.07% 0.05% 11 December
2024
XIONG Ting / 熊婷 226,445 0.07% 0.05% 11 December
2024
Subtotal 452,895 0.14% 0.10%
Note: The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company
Law.
Cornerstone Investors
--- page 12 ---
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 (assuming
the Over-allotment
Option is not
exercised)
Last day
subject to
the lock-up
undertakings
PT. Anugerah Citra
Walet Indonesia
4,010,000 1.22% 0.86% 11 December
2024
PT Esta Indonesia 2,411,200 0.73% 0.52% 11 December
2024
PT Niaga Cakrawala
Sukses
2,411,200 0.73% 0.52% 11 December
2024
WU Chen / 吳琛 1,607,200 0.49% 0.35% 11 June 2024
Value Partners Hong
Kong Limited and
Value Partners
Limited
1,607,200 0.49% 0.35% 11 June 2024
WONG Sing Kwong
Cyrus / 黃成光
803,600 0.24% 0.17% 11 December
2024
Subtotal 12,850,400 3.91% 2.76%
The Cornerstone Investors shall not dispose of any of the Offer Shares subscribed pursuant to the
Cornerstone Investment Agreements on or before the indicated date.
--- page 13 ---
PLACEE CONCENTRATION ANALYSIS
Placees
Number of H
Shares allotted
Allotment as % of
International Offering
(assuming no exercise of
the Over-allotment
Option)
Allotment as % of
International Offering
(assuming the Over-
allotment Option is
exercised and new H
Shares are issued)
Allotment as % of total
Offer Shares (assuming no
exercise of the Over-
allotment Option)
Allotment as % of total
Offer Shares (assuming
the Over-allotment
Option is exercised and
new H Shares are
issued)
Number of
Shares held upon Listing
% of total issued share
capital upon Listing
(assuming no exercise of the
Over-allotment Option)
·% of total issued share
capital upon Listing
(assuming the Over-
allotment Option is
exercised and new H
Shares are issued)
Top 1 4,010,000 20.89% 16.71% 12.53% 10.90% 4,010,000 0.86% 0.85%
Top 5 13,619,600 70.94% 56.75% 42.56% 37.01% 13,619,600 2.93% 2.90%
Top 10 18,411,600 95.89% 76.72% 57.54% 50.03% 18,411,600 3.96% 3.91%
Top 25 22,992,400 119.75% 95.80% 71.85% 62.48% 22,992,400 4.94% 4.89%
Notes
* Ranking of placees is based on the number of H Shares allotted to the placees.
--- page 14 ---
H SHAREHOLDERS CONCENTRATION ANALYSIS
H
Shareholders*
Number of
H Shares
allotted
Allotment as
% of
International
Offering
(assuming no
exercise of
the Over-
allotment
Option)
Allotment as
% of
International
Offering
(assuming
the Over-
allotment
Option is
exercised
and new H
Shares are
issued)
Allotment as
% of total
Offer Shares
(assuming
no exercise
of the Over-
allotment
Option)
Allotment as
% of total
Offer Shares
(assuming
the Over-
allotment
Option is
exercised
and new H
Shares are
issued)
Number of H
Shares held
upon Listing
% of total
issued H
Shares
capital upon
Listing
(assuming
no exercise
of the Over-
allotment
Option)
% of
total
issued H
Shares
capital
upon
Listing
(assuming
the Over-
allotment
Option is
exercised
and
new H
Shares
are
issued)
Number of
Shares held
upon Listing
Top 1 0 0.00% 0.00% 0.00% 0.00% 58,436,100 17.77% 17.51% 104,328,880
Top 5 0 0.00% 0.00% 0.00% 0.00% 197,617,225 60.08% 59.22% 290,146,525
Top 10 0 0.00% 0.00% 0.00% 0.00% 268,738,905 81.70% 80.53% 402,715,435
Top 25 17,070,400 88.91% 71.13% 53.35% 46.39% 313,536,805 95.32% 93.95% 450,117,505
Notes
* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
SHAREHOLDER CONCENTRATION ANALYSIS
Sharehol
ders
Number
of H Sha
res allott
ed
Allotment as
% of
International
Offering
(assuming no
exercise of
the Over-
allotment
Option)
Allotment as
% of
International
Offering
(assuming
the Over-
allotment
Option is
exercised and
new H
Shares are
issued)
Allotment as
% of total
Offer Shares
(assuming no
exercise of
the Over-
allotment
Option)
Allotment as
% of total
Offer Shares
(assuming
the Over-
allotment
Option is
exercised and
new H
Shares are
issued)
Number of H
Shares held
upon Listing
Number of
Shares held
upon Listing
% of total
issued share
capital upon
Listing
(assuming no
exercise of
the Over-
allotment
Option)
% of total
issued share
capital upon
Listing
(assuming
the Over-
allotment
Option is
exercised
and new H
Shares are
issued)
Top 1 0 0.00% 0.00% 0.00% 0.00% 58,436,100 104,328,880 22.41% 22.18%
Top 5 0 0.00% 0.00% 0.00% 0.00% 197,617,225 290,146,525 62.33% 61.69%
Top 10 0 0.00% 0.00% 0.00% 0.00% 268,738,905 402,715,435 86.51% 85.63%
Top 25 17,070,4
00
88.91% 71.13% 53.35% 46.39% 313,536,805 450,117,505 96.70% 95.71%
Notes
* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.
--- page 15 ---
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:
Approximate
percentage
allotted of the
total number of
H Shares
applied
for
Pool A
Number
of H
Shares
applied
for
Number
of valid
applications
Basis of allocation/ballot
400 3,857 232 out of 3,857 applicants to receive 400 H Shares 6.02%
800 1,138 131 out of 1,138 applicants to receive 400 H Shares 5.76%
1,200 772 130 out of 772 applicants to receive 400 H Shares 5.61%
1,600 258 57 out of 258 applicants to receive 400 H Shares 5.52%
2,000 371 102 out of 371 applicants to receive 400 H Shares 5.50%
2,400 156 51 out of 156 applicants to receive 400 H Shares 5.45%
2,800 109 41 out of 109 applicants to receive 400 H Shares 5.37%
3,200 111 47 out of 111 applicants to receive 400 H Shares 5.29%
3,600 114 54 out of 114 applicants to receive 400 H Shares 5.26%
4,000 1,431 743 out of 1,431 applicants to receive 400 H Shares 5.19%
6,000 220 167 out of 220 applicants to receive 400 H Shares 5.06%
8,000 492 489 out of 492 applicants to receive 400 H Shares 4.97%
10,000 248 400 H Shares plus 56 out of 248 applicants to receive an additional
400 H Shares 4.90%
12,000 123 400 H Shares plus 56 out of 123 applicants to receive an additional
400 H Shares 4.85%
14,000 81 400 H Shares plus 55 out of 81 applicants to receive an additional
400 H Shares 4.80%
16,000 101 400 H Shares plus 92 out of 101 applicants to receive an additional
400 H Shares 4.78%
18,000 154 800 H Shares plus 19 out of 154 applicants to receive an additional
400 H Shares 4.72%
20,000 298 800 H Shares plus 103 out of 298 applicants to receive an
additional 400 H Shares 4.69%
30,000 186 1,200 H Shares plus 80 out of 186 applicants to receive an
additional 400 H Shares 4.57%
40,000 185 1,600 H Shares plus 90 out of 185 applicants to receive an
additional 400 H Shares 4.49%
50,000 105 2,000 H Shares plus 56 out of 105 applicants to receive an
additional 400 H Shares 4.43%
60,000 106 2,400 H Shares plus 60 out of 106 applicants to receive an
additional 400 H Shares 4.38%
70,000 53 2,800 H Shares plus 31 out of 53 applicants to receive an additional
400 H Shares 4.33%
80,000 71 3,200 H Shares plus 42 out of 71 applicants to receive an additional
400 H Shares 4.30%
--- page 16 ---
90,000 46 3,600 H Shares plus 28 out of 46 applicants to receive an additional
400 H Shares 4.27%
100,000 292 4,000 H Shares plus 171 out of 292 applicants to receive an
additional 400 H Shares 4.23%
200,000 112 8,000 H Shares plus 30 out of 112 applicants to receive an
additional 400 H Shares 4.05%
300,000 39 11,600 H Shares plus 25 out of 39 applicants to receive an
additional 400 H Shares 3.95%
400,000 31 15,200 H Shares plus 24 out of 31 applicants to receive an
additional 400 H Shares 3.88%
Total
11,260 Total number of Pool A successful applicants: 4,475
Pool B
Approximate
percentage
allotted of the
total number of
H Shares
applied
for
Number
of H
Shares
applied
for
Number
of valid
applications
Basis of allocation/ballot
500,000
114 26,800 H Shares 5.36%
600,000
15 32,000 H Shares 5.33%
700,000
9 37,200 H Shares 5.31%
800,000
8 42,400 H Shares 5.30%
900,000
7 47,600 H Shares 5.29%
1,000,000
9 52,400 H Shares 5.24%
1,200,000
3 61,200 H Shares 5.10%
1,400,000
1 71,200 H Shares 5.09%
1,600,000
14 80,800 H Shares 5.05%
Total
180 Total number of Pool B successful applicants: 180
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.
--- page 17 ---
COMPLIANCE WITH LISTING RULES AND GUIDANCE
The Directors confirm that , except for the Listing Rules that have been waived and/or in respect of
which consent has been obtained, the Company has complied with the Listing Rules and guidance
materials in relation to the placing, allotment and listing of the Company’s shares.
The Directors confirm that, to the best of their knowledge, the consideration paid by the placees or the
public (as the case may be) directly or indirectly for each Offer Share subscribed for or purchased by
them was the same as the final Offer Price in addition to any brokerage, AFRC transaction levy, SFC
transaction levy and trading fee payable.
OTHERS / ADDITIONAL INFORMATION
Under the International Offering, 520,000 Offer Shares, representing approximately 1.63% of the
total number of Offer Shares available under the Global Offering and approximately 0.11% of the
total issued share capital of the Company upon Listing, were placed to China Southern Asset
Management Co., Ltd. ("CSAM") as a placee, which is a member of the same group of companies
as Huatai Financial Holdings (Hong Kong) Limited ("Huatai"), one of the distributors in the Global
Offering, and thus a “connected client” of Huatai under paragraph 13(7) of Appendix 6 of the
Listing Rules (the “Placing Guidelines”).
The Offer Shares placed to CSAM are held by it on a discretionary basis on behalf of its underlying
clients (the "Ultimate Clients"), i.e. the holders of interests in the mutual funds managed by CSAM,
namely China Southern Hongkong Growth Dynamic Allocation Hybrid Fund, China Southern
Hongkong Preference Equity Fund and China Southern Global Dynamic Allocation Fund (the
"Relevant Funds").
To the best of CSAM's knowledge having made reasonable enquiries, CSAM confirms that (i) save
for one individual investor who is an independent third party holding approximately 5.27% interests
in China Southern Hongkong Preference Equity Fund, none of the Ultimate Clients is interested in
more than 5% interests in the Relevant Funds; and (ii) each of the Ultimate Clients is an independent
third party of CSAM, Huatai and the Company.
The Company has applied to the Stock Exchange for, and the Stock Excha nge has granted to the
Company, its consent under paragraph 5(1) of the Placing Guidelines to permit the Company to
allocate Offer Shares in the International Offering to CSAM.
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 const itute or form a part of any offer or
solicitation to purchase or subscribe for securities in the United States. The securities mentioned
--- page 18 ---
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 Unit ed 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 30 November 2023 issued by Xiamen Yan
Palace Bird's Nest Industry Co., Ltd. ( 廈門燕之屋燕窩產業股份有限公司 ) 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 – Hong Kong Underwriting
Agreement – Grounds for Termination ” in the Prospectus at any time prior to 8:00 a.m. (Hong
Kong time) on the Listing Date (which is currently expected to be on 12 December 2023 ).
--- page 19 ---
4
PUBLIC FLOAT
Immediately after completion of the Global Offering, (i) taking into account the Conversion of
115,719,170 Unlisted Shares into H Shares to be issued and held by the Pre-IPO Investors and
existing Shareholders who are not core connected persons of our Company (as defined in the
Listing Rules), 147,719,170 H Shares, representing 31.73% of the total issued Shares (assuming
the Over-allotment Option is not exercised) will be held in the public hands, satisfying the
minimum percentage requirement under Rule 8.08(1) of the Listing Rules; (ii) the three largest
public Shareholders will not hold more than 50% of the Shares held in the public hands at the time
of Listing in compliance with Rules 8.08(3) and 8.24 of the Listing Rules; and (iii) there will be at
least 300 Shareholders at the time of Listing in compliance with Rule 8.08(2) of the Listing Rules.
The Directors confirm that immediately after 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;
and (ii) there will not be any new substantial shareholder (as defined in the Listing Rules) of the
Company.
COMMENCEMENT OF DEALINGS
H Share certificates will only become valid at 8:00 a.m. on Tuesday, December 12, 2023
(Hong Kong time), provided that the Global Offering has become unconditional and the right
of termination described in the section headed “Underwriting ” of 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 in all respects at or before 8:00 a.m. on
Tuesday, December 12, 2023, it is expected that dealings in the H Shares on the Stock Exchange
will commence at 9:00 a.m. on Tuesday, December 12, 2023. The H Shares will be traded in board
lots of 400 H Shares each. The stock code of the H Shares is 1497.
By order of the Board
Xiamen Yan Palace Bird ’s Nest Industry Co., Ltd.
ʮ̡
HUANG Jian
Chairman and Executive Director
Hong Kong, December 11, 2023
As at the date of this announcement, the board of directors of the Company comprises (i) Mr.
HUANG Jian, Mr. ZHENG Wenbin, Mr. LI Youquan and Ms. HUANG Danyan as executive
directors; (ii) Mr. LIU Zhen and Mr. WANG Yalong as non-executive directors; and (iii) Mr.
XIAO Wei, Mr. CHEN Aihua and Mr. LAM Yiu Por as independent non-executive directors.
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