hk-ipo/data/extracted_text/01989/allotment_results_2026-03-19_2026031901556.txt

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Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”)
and Hong Kong Securities Clearing Company Limited (“ HKSCC”) take no responsibility for the contents of this
announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability
whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.
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 or in any other jurisdictions. The securities mentioned herein 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 securities law of any state or other jurisdiction of the United States. The securities may not be offered, sold,
pledged or otherwise transferred within 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. The securities
are being offered and sold outside  the United States in offshore transactions in accordance with Regulation S
under the U.S. Securities Act. There will be no public offer of securities in the United States.
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 March 12, 2026 (the “ Prospectus ”) issued by Delton Technology (Guangzhou) Inc.
(ᄿψᄿΥ
ʮ̡ ) (the “ Company ”) for detailed information about the Global Offering described below before
deciding whether or not to invest in the H Shares thereby being offered. Any investment decision in relation to the
Offer Shares should be taken solely in reliance on the information in the Prospectus. The Company has not been
and will not be registered under the U.S. Investment Company Act of 1940, as amended.
Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as
those defined in the Prospectus.
Potential investors of the Offer Shares should note  that the Sponsor-Overall Coordinators (for themselves and
on behalf of the Overall Coordinators and 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 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 Friday, March 20, 2026).


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Delton Technology (Guangzhou) Inc.
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
: 46,000,000 H Shares
Number of Hong Kong Offer Shares : 4,600,000 H Shares
Number of International Offer Shares : 41,400,000 H Shares
Final Offer Price : HK$71.88 per H Share, plus brokerage of
1%, SFC transaction levy of 0.0027%,
Stock Exchange trading fee of 0.00565%
and AFRC transaction levy of 0.00015%
(payable in full on application in Hong
Kong dollars and subject to refund)
Nominal value : RMB1.00 per H Share
Stock code : 1989
Joint Sponsors, Sponsor-Overall Coordinators, Overall Coordinators,
Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers
Overall Coordinators, Joint Global Coordinators, Joint Bookrunners
and Joint Lead Managers
(in alphabetical order)
Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager


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DELTON TECHNOLOGY (GUANGZHOU) INC.
ʮ̡
ANNOUNCEMENT OF FINAL OFFER PRICE AND
ALLOTMENT RESULTS
Unless otherwise defined herein, capitalized terms used in this announcement shall have the
same meanings as those defined in the prospectus dated March 12, 2026 (the “ Prospectus ”)
issued by Delton Technology (Guangzhou) Inc. (the “ Company ”).
SUMMARY
Company information
Stock code 1989
Stock short name DELTON
Dealings commencement date March 20, 2026*
* see note at the end of the announcement
Price Information
Final Offer Price HK$71.88
Maximum Offer Price HK$71.88
Offer Shares and Share Capital
Number of Offer Shares 46,000,000
Final Number of Offer Shares in Hong Kong Public Offering 4,600,000
Final Number of Offer Shares in International Offering 41,400,000
Number of issued Shares upon Listing 472,446,482
Number of Offer Shares over-allocated  (Note) 0
Note:  There is no over-allotment option in the International Offering, and no stabilization activities will be carried
out in relation to the Global Offering.


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Proceeds
Gross proceeds (Note) HK$3,306.48 million
Less: Estimated listing expenses payable based on
Final Offer Price HK$(121.22) million
Net proceeds HK$3,185.26 million
Note:  Gross proceeds refers to the  amount which the Company is  entitled to receive. For details  of the use of
proceeds, please refer to the section headed “Future Plans and Use of Proceeds” of the Prospectus.
ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING
No. of valid applications 202,417
No. of successful applications 39,425
Subscription level 1,070.72 times
Claw-back triggered N/A
No. of Offer Shares initially available under the Hong Kong
Public Offering 4,600,000
Number of Offer Shares reallocated from the International
Offering 0
Final no. of Offer Shares under the Hong Kong Public Offering 4,600,000
% of Offer Shares under the Hong Kong Public Offering to
the Global Offering 10.00%
Note:  For details of the final allocation of H Shares to the Public Offer, investors can refer to
www.hkeipo.hk/IPOResult to perform a search by identification number or www.hkeipo.hk/IPOResult for
the full list of allottees.


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INTERNATIONAL OFFERING
No. of placees 162
Subscription Level 14.64 times
No. of Offer Shares initially available under the International
Offering 41,400,000
Number of Offer Shares reallocated to the Hong Kong Public
Offering 0
Final no. of Offer Shares under the International Offering 41,400,000
% of Offer Shares under the International Offering to
the Global Offering 90.00%
The Directors confirm that, to the best of their knowledge, information and belief, save for
(a) a waiver from strict compliance with Rule 10.04 of the Listing Rules and a consent under
paragraph 1C(2) of Appendix F1 to the Listing Rules (the “ Placing Guidelines ”) granted by
the Stock Exchange to permit the Company to allocate certain Offer Shares in the International
Offering to certain Existing Minority Shareholders and/or their close associates, (b) a consent
under paragraph 18 of Chapter 4.15 of the Guide for New Listing Applicants to permit the
Company to, among other things, allocate further H Shares in the International Offering to an
existing Shareholder and/or its close associates and a Cornerstone Investor and/or its close
associates, and (c) a consent under paragraph 1C(1) of the Placing Guidelines to permit the
Company to allocate certain Offer Shares in the International Offering to connected clients, (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; 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, 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.


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The placees in the International Offering include the following:
Cornerstone Investors
Cornerstone Investors
No. of
Offer Shares
allocated Note 1
% of
Offer Shares
% of total
issued share
capital after
the Global
Offering Note 3
Existing
shareholders
or their close
associates

China Pinnacle Equity Management Limited
(“CPE”)
1,730,100 3.76% 0.37% No
Yuanfeng Asset Management and GTINV
(in connection with the Yuanfeng OTC Swaps)
1,534,300 3.34% 0.32% No
Shanghai Greenwoods and CITIC Securities
International Capital Management Limited
(in connection with CITICS Back-to-back TRS
and CITICS Client TRS)
89,200 0.19% 0.02% Yes
Note 2
Greenwoods Asset Management Hong Kong
Limited (“ HK Greenwoods ”)
3,175,200 6.90% 0.67% No
UBS Asset Management (Singapore) Ltd.
(“UBS AM Singapore ”)
3,264,500 7.10% 0.69% Yes Note 2
Value Partners Hong Kong Limited and Value
Partners Limited (“ Value Partners ”)
3,264,500 7.10% 0.69% No
Eastspring Investments (Singapore) Limited
(“Eastspring ”)
1,632,200 3.55% 0.35% No
Greater Bay Area Development Fund Management
Limited (“ GBAHIL ”)
1,632,100 3.55% 0.35% No
MY Asian Opportunities Master Fund, L.P.
(“MY Asian ”)
1,088,100 2.37% 0.23% No
Baring Asset Management (Asia) Limited
(“Barings ”)
1,088,100 2.37% 0.23% No
Dajia Life Insurance Co., Ltd. (“ Dajia Life ”) 1,088,100 2.37% 0.23% Yes Note 2
ICBC Wealth Management Co., Ltd.
(“ICBC Wealth ”)
1,088,100 2.37% 0.23% No

Total 20,674,500 Note 5 44.94% 4.38%


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Notes:
(1) The number of Offer Shares allocated to such investors only represents the number of Offer Shares allocated
to the investors as cornerstone investors in the International Offering. For allocations of Offer Shares to
the relevant investors as placees (if any), please refer to the section headed “Allotment Results Details –
International Offering – Allotees with Waiver/Consents obtained” in this announcement.
(2) For details of a waiver from strict compliance with Rule 10.04 of the Listing Rules and a consent under
paragraph 1C(2) of the Placing Guidelines granted by the Stock Exchange to permit the Company to allocate
certain Offer Shares in the International Offering to certain Existing  Minority Shareholders and/or their
close associates as cornerstone investor, please refer to the section headed “Others/Additional Information”
in this announcement.
(3) Not taking into account any A Shares held by the relevant investors.
(4) In addition to the Offer Shares subscribed for as Cornerstone Investors, CPE,  Yuanfeng Asset Management
and GTINV (in connection with the Yuanfeng OTC Swaps), Shanghai Greenwoods and CITIC Securities
International Capital Management Limited (in connection with CITICS Back-to-back TRS and CITICS
Client TRS), HK Greenwoods, UBS AM Singapore, GBAHIL, MY Asian, Barings, Dajia Life and ICBC
Wealth, and/or their close associates, were allocated further Offer Shares as placees in the International
Offering. Please refer to the section headed “Allotment Results Details – International Offering – Allottees
with Waivers/Consents Obtained” in this announcement for details. Only the Offer Shares subscribed for
as Cornerstone Investors are subject to lock-up as indicated below. For details, please refer to the section
headed “Lock-up Undertakings – Cornerstone Investors” in this announcement.
(5) The aggregate number of Offer Shares allocated to Cornerstone Investors is 300 less than that set out in the
Prospectus due to rounding adjustments during the placing allocation for certain Cornerstone Investors.


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Allotees with Waivers/Consents Obtained
Investor
No. of
Offer Shares
allocated
% of
Offer Shares
% of total
issued share
capital after
the Global
Offering Note 1, 3 Relationship
Allotees with waiver from strict compliance with the requirements under Rule 10.04 of the Listing Rules and consent under
paragraph 1C(2) of the Placing Guidelines in relation to subscription for H Shares by Existing Minority Shareholders
holding 1% or more of the issued share capital of the Company immediately prior to the completion of the Global Offering
and/or their close associates
Note 1,3
E Fund Management Co., Ltd.
(“E Fund ”)
91,500 0.199% 0.019% E Fund also manages other
fund products, each
holding less than 1% of
the issued share capital but
in aggregate holding more
than 1% of the issued share
capital of the Company.
E Fund Management (Hong Kong)
Co., Ltd. (“ E Fund HK ”)
6,400 0.014% 0.001% E Fund HK is wholly
owned by E Fund, which
also manages other fund
products, each holding less
than 1% of the issued share
capital but in aggregate
holding more than 1% of
the issued share capital of
the Company.


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Investor
No. of
Offer Shares
allocated
% of
Offer Shares
% of total
issued share
capital after
the Global
Offering Note 1, 3 Relationship
Allotees with consent under paragraph 18 of Chapter 4.15 of the Guide for New Listing Applicants in relation to allocations
of further H Shares to certain Cornerstone Investors and/or their close associates Note 1
CSIWM – CPE Growth Fund #1 234,100 0.509% 0.050% A close associate of
a Cornerstone Investor,
being CPE
Note 2
Guotai Junan Investments
(Hong Kong) Limited
– Yuanfeng Wenjian Fund
310,100 0.674% 0.066% A close associate of
a Cornerstone Investor,
being Yuanfeng Asset
Management
Note 2
Greenwood Entities
– Shanghai Greenwoods and
CITIC Securities International
Capital Management Limited (in
connection with CITICS Back-to-
back TRS and CITICS Client TRS)
156,600 0.340% 0.033% A Cornerstone Investor
Note 2
– Greenwoods Asset Management
Hong Kong Limited
387,600 0.843% 0.082% A Cornerstone Investor Note 2

Subtotal 544,200 1.183% 0.115%
UBS AM Singapore 544,100 1.183% 0.115% A Cornerstone Investor
Note 2
Mega Prime Development Limited
– Ruby24 and Poly Platinum
Enterprises Limited
272,100 0.592% 0.058% A close associate of
a Cornerstone Investor,
being GBAHIL
Note 2
MY Asian 181,300 0.394% 0.038% A Cornerstone Investor Note 2
Barings 181,300 0.394% 0.038% A Cornerstone Investor Note 2
Dajia Life 181,300 0.394% 0.038% A Cornerstone Investor Note 2
ICBC Wealth 192,100 0.418% 0.041% A Cornerstone Investor Note 2


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Investor
No. of
Offer Shares
allocated
% of
Offer Shares
% of total
issued share
capital after
the Global
Offering Note 1, 3 Relationship
Allotees with 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 connected clients Note 1
CITIC Securities Asset Management
Company Limited (“ CITIC Asset
Management ”)
10,800 0.023% 0.002% Connected client investing
as a placee
CITIC Securities Asset management
(HK) Limited (“ CITIC Asset
Management HK ”)
49,000 0.107% 0.010% Connected client investing
as a placee
China Asset Management (Hong
Kong) Limited (“ China AMC HK ”)
49,000 0.107% 0.010% Connected client investing
as a placee
E Fund 91,500 0.199% 0.019% Connected client investing
as a placee
E Fund HK 6,400 0.014% 0.001% Connected client investing
as a placee
GF International Investment
Management Limited (“ GF
International ”)
97,900 0.213% 0.021% Connected client investing
as a placee
CITIC Securities International Capital
Management Limited (“ CSI”)
675,800 1.469% 0.143% Connected client investing
as a cornerstone investor
and a placee
GF Global Capital Limited (“ GFGC”) 168,900 0.367% 0.036% Connected client investing
as a placee
Huatai Capital Investment Limited
(“HTCI”)
217,600 0.473% 0.046% Connected client investing
as a placee
GF Securities Asset Management
(Guangdong) Co., Ltd.
(“GF Securities AM ”)
345,800 0.752% 0.073% Connected client investing
as an asset manager of
a cornerstone investor
(being ICBC Wealth) and a
placee
Value Partners 3,264,500 7.097% 0.691% Connected client investing
as a cornerstone investor


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Notes:
(1) For details of (a) a waiver from strict compliance with Rule 10.04 of the Listing Rules and a consent
under paragraph 1C(2) of the Placing Guidelines granted by the Stock Exchange to permit the Company to
allocate certain Offer Shares in the International Offering to Existing Minority Shareholders and their close
associates as cornerstone investor; (b) a consent under paragraph 18 of Chapter 4.15 of the Guide for New
Listing Applicants to permit the Company to allocate certain Offer Shares in the International Offering to
certain Cornerstone Investors and/or their close associates; and (c) a consent under paragraph 1C(1) of the
Placing Guidelines to permit the Company to allocate certain Offer Shares in the International Offering to
connected clients and details of ultimate clients adopting TRS arrangements, please refer to the sub-section
relating to section headed “Others/Additional Information” in this announcement.
(2) The number of Offer Shares allocated to the relevant investors listed in this subsection only represents the
number of Offer Shares allocated to the investors as placees in the International Offering. For allocations
of Offer Shares to the relevant investors as Cornerstone Investors, please refer to the section headed
“Allotment Results Details – International Offering – Cornerstone Investors” in this announcement.
(3) Among the Cornerstone Investors, Dajia Life, CSICM and UBSAM Singapore are either Existing Minority
Shareholders of the Company or their close associates. Among the other allotees, E Fund and E Fund HK
are either Existing Minority Shareholders of the Company or their close associates. The Stock Exchange has
granted a waiver from strict compliance with the requirements under Rule 10.04 of the Listing Rules and
consent under Paragraph 1C(2) of the Placing Guidelines to permit H Shares in the International Offering
to be placed to certain Existing Minority Shareholders and/or their close associates. Please refer to the
section headed “Waivers from Strict Compliance with the Listing Rules – Allocation of H Shares to Existing
Minority Shareholders and Their Close Associates” of the Prospectus for details.


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LOCK-UP UNDERTAKINGS
Controlling Shareholders
Name
Number of
Shares held
in the
Company
subject to
lock-up
undertakings
upon Listing
Number of
H 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 Note 1
% of
shareholding
in the
Company
subject to
lock-up
undertakings
upon
Listing Note 1
Last day subject to the lock-up
undertakings
Note 2

Guangzhou Zhenyun Investment Co., Ltd.
(“Zhenyun Investment ”)Note 4
171,142,853 0 0.00% 36.22% September 19, 2026
(First Sixth-Month Period) Note 1
March 19, 2027
(Second Sixth-Month Period) Note 2
Shenzhen Guangcai Investment
Partnership (Limited Partnership)
(“Guangcai Investment ”)
Note 4
28,832,734 0 0.00% 6.10% September 19, 2026
(First Sixth-Month Period) Note 1
March 19, 2027
(Second Sixth- Month Period) Note 2
Shenzhen Guangsheng Investment
Partnership (Limited Partnership)
(“Guangsheng Investment ”)
Note 4
28,832,734 0 0.00% 6.10% September 19, 2026
(First Sixth-Month Period) Note 1
March 19, 2027
(Second Sixth-Month Period) Note 2
Notes:
(1) The Controlling Shareholders may dispose of or transfer H shares after the indicated date subject to that the
Controlling Shareholders will not cease to be the Controlling Shareholders.
(2) The Controlling Shareholders will cease to be prohibited from disposing of or transferring H Shares after the
indicated date.
(3) In accordance with the relevant Listing Rule /guidance materials, the required lock-up for the first six-month
period ends on September 19, 2026, and for the second six-month period, on March 19, 2027.


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(4) For illustrative purposes only, this  subsection lists only those members of the Controlling Shareholders
who hold Shares directly in the Company. Immediately upon the completion of the Global Offering, the
Company will be held as to (i) approximately 36.22% by Zhenyun Investment, which is owned as to
99.90% by Mr. Xiao (the spouse of Ms. Liu) and 0.10% by Ms. Liu (the spouse of Mr. Xiao), respectively;
(ii) approximately 6.10% by Guangsheng Investment, which is controlled by Mr. Xiao by virtue of his
position as the sole general partner thereof; and (iii) approximately 6.10% by Guangcai Investment, which
is controlled by Mr. Xiao by virtue of his position as the sole general partner thereof, respectively. Upon
Listing, each of Mr. Xiao, Ms. Liu, Zhenyun Investment, Guangsheng Investment and Guangcai Investment
will constitute a group of the Controlling Shareholders and each of them is subject to the same lock-up as
disclosed above.
Cornerstone Investors
Name Note 1
Number of
Shares held
in the
Company
subject to
lock-up
undertakings
upon Listing
Number of
H 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 Company
subject to
lock-up
undertakings
upon Listing
Last day subject to the lock-up
undertakings  Note 2

CPE 1,730,100 1,730,100 3.76% 0.37% September 19, 2026
Yuanfeng Asset Management and
GTINV(in connection with the
Yuanfeng OTC Swaps)
1,534,300 1,534,300 3.34% 0.32% September 19, 2026
Greenwood Entities
– Shanghai Greenwoods and CSI (in
connection with CITICS Back-to-
back TRS and CITICS Client TRS)
89,200 89,200 0.19% 0.02% September 19, 2026
– HK Greenwoods 3,175,200 3,175,200 6.90% 0.67% September 19, 2026

Sub-total 3,264,400 3,264,400 7.09% 0.69% /
UBS AM Singapore 3,264,500 3,264,500 7.10% 0.69% September 19, 2026
Value Partners 3,264,500 3,264,500 7.10% 0.69% September 19, 2026
Eastspring 1,632,200 1,632,200 3.55% 0.35% September 19, 2026
GBAHIL 1,632,100 1,632,100 3.55% 0.35% September 19, 2026
MY Asian 1,088,100 1,088,100 2.37% 0.23% September 19, 2026
Barings 1,088,100 1,088,100 2.37% 0.23% September 19, 2026
Dajia Life 1,088,100 1,088,100 2.37% 0.23% September 19, 2026
ICBC Wealth 1,088,100 1,088,100 2.37% 0.23% September 19, 2026

Sub-total 20,674,500 20,674,500 44.94% 4.38%


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Notes:
(1) For further details of the Cornerstone Investors, please refer to the section headed “Cornerstone Investors”
in the Prospectus.
(2) In accordance with the relevant cornerstone investment agreements, the required lock-up ends on September
19, 2026. The Cornerstone Investors will cease to be prohibited from disposing of or transferring H Shares
subscribed for pursuant to the relevant cornerstone investment agreements after the indicated date.
PLACEE CONCENTRATION ANALYSIS
Placees*
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 share
capital upon
Listing
Top 1 3,808,600 9.20% 8.28% 3,808,600 0.81%
Top 5 15,212,500 36.75% 33.07% 15,212,500 3.22%
Top 10 24,407,300 58.95% 53.06% 24,407,300 5.17%
Top 25 33,902,200 81.89% 73.70% 33,902,200 7.18%
Note:
* Ranking of placees is based on the number of H Shares allotted to the placees.
H SHAREHOLDER 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 3,808,600 9.20% 8.28% 3,808,600 8.28% 4,149,301
Top 5 15,212,500 36.75% 33.07% 15,212,500 33.07% 15,553,201
Top 10 24,407,300 58.95% 53.06% 24,407,300 53.06% 24,748,001
Top 25 33,902,200 81.89% 73.70% 33,902,200 73.70% 34,324,301
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% 0 228,808,321 48.43%
Top 5 0 0.00% 0.00% 0 308,360,040 65.27%
Top 10 10,881,700 26.28% 23.66% 10,881,700 330,977,203 70.06%
Top 25 26,956,900 65.11% 58.60% 26,956,900 359,782,597 76.15%
Note:
* 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 SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT POOL A
APPROXIMATE
PERCENTAGE
ALLOTTED OF
THE TOTAL
NO. OF SHARES
APPLIED FOR
100 69,175 3,459 out of 69,175 applicants to receive 100 shares 5.00%
200 12,543 797 out of 12,543 applicants to receive 100 shares 3.18%
300 6,634 485 out of 6,634 applicants to receive 100 shares 2.44%
400 3,057 247 out of 3,057 applicants to receive 100 shares 2.02%
500 4,377 382 out of 4,377 applicants to receive 100 shares 1.75%
600 12,684 1,178 out of 12,684 applicants to receive 100 shares 1.55%
700 1,845 181 out of 1,845 applicants to receive 100 shares 1.40%
800 1,647 169 out of 1,647 applicants to receive 100 shares 1.28%


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NO. OF SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT POOL A
APPROXIMATE
PERCENTAGE
ALLOTTED OF
THE TOTAL
NO. OF SHARES
APPLIED FOR
900 1,082 116 out of 1,082 applicants to receive 100 shares 1.19%
1,000 9,302 1,031 out of 9,302 applicants to receive 100 shares 1.11%
1,500 4,075 520 out of 4,075 applicants to receive 100 shares 0.85%
2,000 3,724 525 out of 3,724 applicants to receive 100 shares 0.70%
2,500 2,603 396 out of 2,603 applicants to receive 100 shares 0.61%
3,000 2,770 449 out of 2,770 applicants to receive 100 shares 0.54%
3,500 1,658 284 out of 1,658 applicants to receive 100 shares 0.49%
4,000 1,862 333 out of 1,862 applicants to receive 100 shares 0.45%
4,500 1,285 240 out of 1,285 applicants to receive 100 shares 0.42%
5,000 2,870 555 out of 2,870 applicants to receive 100 shares 0.39%
6,000 2,297 473 out of 2,297 applicants to receive 100 shares 0.34%
7,000 1,971 428 out of 1,971 applicants to receive 100 shares 0.31%
8,000 1,750 398 out of 1,750 applicants to receive 100 shares 0.28%
9,000 1,413 335 out of 1,413 applicants to receive 100 shares 0.26%
10,000 9,432 2,315 out of 9,432 applicants to receive 100 shares 0.25%
20,000 5,928 1,849 out of 5,928 applicants to receive 100 shares 0.16%
30,000 4,183 1,501 out of 4,183 applicants to receive 100 shares 0.12%
40,000 2,868 1,136 out of 2,868 applicants to receive 100 shares 0.10%
50,000 2,523 1,080 out of 2,523 applicants to receive 100 shares 0.09%
60,000 4,692 2,138 out of 4,692 applicants to receive 100 shares 0.08%

180,250 Total number of Pool A successful applicants: 23,000


--- page 17 ---
– 17 –
NO. OF SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT POOL B
APPROXIMATE
PERCENTAGE
ALLOTTED OF
THE TOTAL
NO. OF SHARES
APPLIED FOR
70,000 6,430 3,601 out of 6,430 applicants to receive 100 shares 0.08%
80,000 2,108 1,307 out of 2,108 applicants to receive 100 shares 0.08%
90,000 1,685 1,143 out of 1,685 applicants to receive 100 shares 0.08%
100,000 5,916 4,346 out of 5,916 applicants to receive 100 shares 0.07%
200,000 2,593 100 shares plus 634 out of 2,593 applicants to receive
an additional 100 shares
0.06%
300,000 1,337 100 shares plus 928 out of 1,337 applicants to receive
an additional 100 shares
0.06%
400,000 577 200 shares plus 63 out of 577 applicants to receive an additional
100 shares
0.05%
500,000 450 200 shares plus 225 out of 450 applicants to receive
an additional 100 shares
0.05%
600,000 238 200 shares plus 208 out of 238 applicants to receive
an additional 100 shares
0.05%
700,000 146 300 shares plus 34 out of 146 applicants to receive an additional
100 shares
0.05%
800,000 105 300 shares plus 61 out of 105 applicants to receive an additional
100 shares
0.04%
900,000 68 300 shares plus 62 out of 68 applicants to receive an additional
100 shares
0.04%
1,000,000 226 400 shares plus 53 out of 226 applicants to receive an additional
100 shares
0.04%
1,500,000 114 500 shares plus 87 out of 114 applicants to receive an additional
100 shares
0.04%
2,000,000 39 700 shares plus 7 out of 39 applicants to receive an additional
100 shares
0.04%
2,300,000 135 700 shares plus 132 out of 135 applicants to receive
an additional 100 shares
0.03%

22,167 Total number of Pool B successful applicants: 16,425
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 18 ---
– 18 –
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, no rebate has been, directly or
indirectly, provided by the Company, its Controlling Shareholders, Directors or syndicate
members to any placees or the public (as the case may be) and the consideration payable
by them for each Share of the Company subscribed for or purchased by them is the same
as the final Offer Price determined by agreement between the Company and the Sponsor-
Overall Coordinators (for themselves and on behalf of other Overall Coordinators and the
Underwriters), in addition to any brokerage, AFRC transaction levy, SFC transaction levy and
trading fee payable.
OTHERS/ADDITIONAL INFORMATION
Allocation of H Shares to Existing Minority Shareholders and their close associates with a
waiver from the strict compliance with Rule 10.04 of the Listing Rules and a prior consent
under paragraph 1C(2) of the Placing Guidelines
As disclosed in the Prospectus, the Company has applied to the Stock Exchange, and the Stock
Exchange has granted, a waiver from the strict compliance with Rule 10.04 of the Listing
Rules and a consent under paragraph 1C(2) of the Placing Guidelines to permit the Company to
allocate such Offer Shares certain Existing Minority Shareholders and their close associates on
the following conditions:
(i) the Joint Sponsors shall confirm to the Stock Exchange in writing that:
(a) each Existing Minority Shareholder to whom our Company may allocate the H
Shares in the International Offering holds less than 5% of our Company’s voting
rights prior to the completion of the Global Offering;
(b) each Existing Minority Shareholder is not, and will not be, a core connected
person of our Company or any close associate of any such core connected person
immediately prior to or following the Global Offering;
(c) none of the Existing Minority Shareholders has the right to appoint any Directors
and/or any other special rights;


--- page 19 ---
– 19 –
(d) allocation to the Existing Minority Shareholders and/or their close associates will
not affect our Company’s ability to satisfy the public float requirement as prescribed
under Rule 19A.13A(2) of the Listing Rules, and details of the allocation to the
Existing Minority Shareholders holding 1% or more of the issued share capital of
our Company immediately prior to the completion  of the Global Offering will be
disclosed in this Prospectus and/or the allotment results announcement, as the case
may be;
(e) to the best of their knowledge and belief, they have no reason to believe that any of
the Existing Minority Shareholders received any preferential treatment, or is in a
position to exert influence on our Company to obtain actual or perceived preferential
treatment in the allocation either as a cornerstone investor or as a placee by virtue
of their relationship with our Company other than the preferential treatment of
assured entitlement under a cornerstone investment following the principles set out
in Chapter 4.15 of the Guide for New Listing Applicants;
(ii) our Company shall confirm to the Stock Exchange in writing that:
(a) in the case of participation as cornerstone investors, no preferential treatment
has been, nor will be, given to the Existing Minority Shareholders or their close
associates by virtue of their relationship with our Company, other than the
preferential treatment of assured entitlement under a cornerstone investment
following the principles set out in Chapter 4.15 of the Guide for New Listing
Applicants, nor is the Existing Minority Shareholder in a position to exert influence
on our Company to obtain actual or perceived preferential treatment, and the
Existing Minority Shareholders or their close associates’ cornerstone investment
agreements do not contain any material terms which are more favorable to the
Existing Minority Shareholders or their close associates than those in other
cornerstone investment agreements; or
(b) in the case of participation as placees, no preferential treatment has been, nor will
be, given to the Existing Minority Shareholders or their close associates, nor is the
Existing Minority Shareholder in a position to exert influence on our Company to
obtain actual or perceived preferential treatment, by virtue of their relationship with
our Company in any allocation in the placing tranche; and


--- page 20 ---
– 20 –
(iii) in the case of participation as placees, the Overall Coordinators will confirm to the Stock
Exchange that, to the best of their knowledge and belief,  no preferential treatment has
been, nor will be, given to the Existing Minority Shareholders or their close associates by
virtue of their relationship with our Company in any allocation in the placing tranche.
Please refer to the section headed “Waivers from Strict Compliance with the Listing Rules
– Allocation of H Shares to Existing Minority Shareholders and Their Close Associates” in
the Prospectus for further details of the waiver and consent. The allocation of Offer Shares to
such Existing Minority Shareholders is in compliance with all the conditions under the waiver/
consent granted by the Stock Exchange.
Allocations of Offer Shares to certain Cornerstone Investors and/or their close associates
with a consent under paragraph 18 of Chapter 4.15 of the Guide
The Company has applied to, and the Stock Exchange has granted, a consent under Chapter 4.15
of the Guide for New Listing Applicants to permit the Company to allocate further Offer Shares
in the International Offering to certain Cornerstone Investors and/or their close associates as
placees, subject to the following conditions (the “ Size-based Exemption ”):
(a) the final offering size of the Global Offering  will be of a total value of at  least HK$1
billion;
(b) the Offer Shares a llocated to all existing Shareholders and their close associates as
permitted under the Size-based Exemption do not exceed 30% of the total number of the
Shares offered under the Global Offering;
(c) each Director, chief executive and Controlling Shareholder of the Company confirms that
no Offer Shares have been allocated to them or their respective close associates under the
Size-based Exemption;
(d) the allocation to certain Cornerstone Investors and/or their close associates will not affect
the Company’s ability to satisfy the public float requirement under Rule 19A.13A(2)) of
the Listing Rules; and
(e) details of the allocation to the Cornerstone Investors and/or their close associates under
the Size-based Exemption will be disclosed in this announcement.


--- page 21 ---
– 21 –
Such allocations of Offer Shares are in compliance with all the conditions under the consent
granted by the Stock Exchange.
For details of the allocations of Offer Shares to existing Shareholders and/or their close
associates and Cornerstone Investors, please refer to the section headed “Allotment Results
Details – International Offering – Allotees with Waivers/Consents Obtained” in this
announcement.
Placing to connected clients with a consent under paragraph 1C(1) of the Placing
Guidelines
Under the International Offering, certain Offer Shares were placed to connected clients of their
connected distributors pursuant to the Placing Guidelines.
The Company has applied to the Stock Exchange for, and the Stock Exchange has granted,
consent under paragraph 1C(1) of the Placing Guidelines to permit each of CSICM, VPHKL,
VPL and ICBC Wealth to participate in the Global Offering as connected client to participate
in the Global Offering as a Cornerstone Investor. For details of the consent granted, please
refer to the section headed “Allotment Results Details – International Offering – Cornerstone
Investors” in this announcement.
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 each of CSI, GFGC, HTCI,
GF Securities AM, CITIC Asset Management, CITIC Asset Management HK, China AMC
HK, E Fund, E Fund HK and GF International (the “ Connected Clients ”) to participate in
the Global Offering as connected client to participate in the Global Offering as a placee. The
allocation of Offer Shares to such connected clients is in compliance with all the conditions
under the consent granted by the Stock Exchange, including the following:
The Overall Coordinators shall confirm to the Stock Exchange in writing that:
(i) Based solely on the information and confirmation provided by the Connected Clients, the
Shares to be allocated to the Connected Clients will be held by the Connected Clients on
behalf of independent third parties upon completion of the Global Offering as placee, and
details of the allocation to the Connect ed Clients are disclosed in the allotment results
announcement of the Company;


--- page 22 ---
– 22 –
(ii) Based on the confirmation provided by CSI, to the best knowledge of CSI after making
all reasonable enquiries, CSI Ultimate Clients is an independent third party of CSI, CLSA
and the companies which are members of the same group of CLSA and the identities of the
ultimate beneficial owners have been disclosed in the Consent Application;
(iii) Based on the confirmation provided by GFGC, to the best knowledge of GFGC after
making all reasonable enquiries, GFGC Ultimate Clients is an independent third party
of GFGC, GF Securities and the companies which are members of the same group of GF
Securities and the identities of the ultimate beneficial owners have been disclosed in the
Consent Application;
(iv) Based on the confirmation provided by GF Securities AM, to the best knowledge of GF
Securities AM after making all reasonable enquiries, GF Securities AM Ultimate Clients
is an independent third party of GF Securities AM, GF Securities and the companies
which are members of the same group of GF Securities and the identities of the ultimate
beneficial owners have been disclosed in the Consent Application;
(v) Based on the confirmation provided by HTCI, to the best knowledge of HTCI after
making all reasonable enquiries, HTCI Ultimate Clients is an independent third party
of HTCI, Huatai and the companies which are members of the same group of Huatai
and the identities of the ultimate beneficial owners have been disclosed in the Consent
Application;
(vi) To the best of our knowledge and belief, we have no reason to believe that the Connected
Clients have received or will receive any preferential treatment in the allocation of
the Offer Shares in the International Offering by virtue of their relationship with the
respective connected distributor;
(vii) the background and details of certain collective investments schemes not authorized by
the SFC, which GF International is investing on behalf of, are disclosed in the allotment
results announcement of the Company; and
(viii) The respective connected distributor has not participated, and will not participate, in
the decision-making process or relevant discussions among the Company, the Overall
Coordinators and the Underwriters as to allocation of the Offer Shares to CITIC Asset
Management, CITIC Asset Management HK, China AMC HK, E Fund, E Fund HK and
GF International.


--- page 23 ---
– 23 –
The Company shall confirm to the Stock Exchange in writing that:
(i) No preferential treatment has been, nor will be, given to the Connected Clients  in any
allocation of the Offer Shares in the International Offering by virtue of their relationship
with the Connected Distributor; and
(ii) The respective Connected Distributor has not participated, and will not participate, in the
decision-making process or relevant discussions relating to allocation of the Offer Shares
to CITIC Asset Management, CITIC Asset Management HK, China AMC HK, E Fund, E
Fund HK and GF International.
Each of the Connected Clients shall confirm to the Stock Exchange in writing that in relation to
the Shares to be allocated to the Connected Clients, to the best of their knowledge and belief,
they have not received and will not receive any preferential treatment in the allocation of the
Offer Shares in the International Offering by virtue of their relationship with the respective
Connected Distributor.
In respect of Connected Clients holding the beneficial interest of the Offer Shares on a
discretionary basis as disclosed below, the respective Connected Distributors shall confirm to
the Stock Exchange in writing that:
(i) To the best of their knowledge and belief, no preferential treatment has been, nor will be,
given to the Connected Clients in any allocation of the Offer Shares in the International
Offering by virtue of their relationship with the Connected Distributor; and
(ii) The Connected Distributors have not participated, and will not participate, in the
decision-making process or relevant discussions among the Company, the Overall
Coordinators and the Underwriters as to whether the Offer Shares should be allocated to
its respective Connected Clients.
In respect of Connected Clients holding the beneficial interest of the Offer Shares on a non-
discretionary basis as disclosed below, the respective Connected Distributors shall confirm to
the Stock Exchange in writing that to the best of their knowledge and belief, no preferential
treatment has been, nor will be, given to the Connected Clients in any allocation of the
Offer Shares in the International Offering by virtue of their relationship with the respective
Connected Distributor.


--- page 24 ---
– 24 –
Details of the placement to connected clients are set out below:
No. Connected Distributor Connected Client Relationship
Identities of
the ultimate
beneficial
owners of the
Offer Shares
or, where
applicable,
details of
the structured
products under
which the
subscription by
the Connected
Client was
made (e.g. OTC
total return
swaps)
Whether the
Connected
Client is a
 collective
investment
scheme
which is not
authorised by
the SFC or
is expected to
hold the Offer
Shares on
behalf of
such scheme
Maximum
amount
of Offer
Shares to
be allocated
to the
Connected
Client
Approximate
percentage of
total number
of Offer
Shares under
the Global
Offering
Approximate
percentage of
total issued
share capital
after the
Global
Offering

Part A – Connected Clients holding the beneficial interest of the Offer Shares on a non-discretionary basis on behalf of indepe ndent third parties
1. CLSA Limited (“ CLSA”) CSI CSI is a member of the
same group of CLSA.
Please refer to
Note (1) below.
No 586,600 1.275% 0.124%
2. GF Securities (Hong Kong)
Brokerage Limited
(“GF Securities ”)
GFGC GFGC is a member of
the same group of GF
Securities.
Please refer to
Note (2) below.
No 168,900 0.367% 0.036%
3. Huatai Financial Holdings
(Hong Kong) Limited
(“HTFH”)
HTCI HTCI is a member of
the same group of
companies as HTFH.
Please refer to
Note (3) below.
No 217,600 0.473% 0.046%
4. GF Securities GF Securities AM GF Securities AM is a
member of the same
group of companies as
GF Securities.
Please refer to
Note (4) below.
No 19,400 0.042% 0.004%


--- page 25 ---
– 25 –
No. Connected Distributor Connected Client Relationship
Whether the
Connected Client
is a collective
investment
scheme which
is not authorised
by the SFC or
is expected
to hold the
Offer Shares on
behalf of
such scheme
Maximum
amount of
Offer Shares
to be allocated
to the Connected
Client
Approximate
percentage of
total number of
Offer Shares
under the
Global Offering
Approximate
percentage of
total issued share
capital after
the Global
Offering
Part B – Connected Clients holding the beneficial interest of the Offer Shares on a discretionary basis on behalf of independen t third parties
1. CLSA Limited CITIC Asset
Management Note 5
CITIC Asset Management is
a member of the same
group of companies as
CLSA.
No 10,800 0.023% 0.002%
2. CLSA Limited CITIC Asset
Management
HK
Note 6
CITIC Asset Management HK
is a member of the same
group of companies as
CLSA.
No 49,000 0.107% 0.010%
3. CLSA Limited China AMC HK
Note 7 China AMC HK is a member
of the same group of
companies as CLSA.
No 49,000 0.107% 0.010%
4. GF Securities E Fund
Note 8 E Fund is a member of the
same group of companies
as GF Securities.
No 91,500 0.199% 0.019%
5. GF Securities E Fund HK
Note 9 E Fund HK is a member of the
same group of companies
as GF Securities.
No 6,400 0.014% 0.001%
6. GF Securities GF International
Note 10 GF International is a member
of the same group
of companies as GF
Securities
Yes,
GF International is
 investing on behalf
of certain collective
investment schemes.
Please refer to note
(1) for background
and details of such
schemes.
Note 11
97,900 0.213% 0.021%
Notes:
(1) CSI proposes to subscribe for and hold the Offer  Shares as a placee under the International Offering on
behalf of the ultimate clients of CSI (“ CSI Ultimate Clients ”), on a non-discretionary basis, pursuant to
which:


--- page 26 ---
– 26 –
(i) CSI will act as  the single counterpa rty of a back-to-back total re turn swap trans action (the “ CSI
Back-to-back TRS ”) to be entered into by it in connection with a total return swap order (the “ CSI
Client TRS ”) placed and fully funded by the CSI Ultimate Client, including Canaan China Flagship
Fund and and the investment managers (Hover4pi Capital Management, Shenzhen Jingcong Asset
Management Ltd. (ʮ̡ ), Shanghai Greenwoods Asset Management
Ltd. (ʮ̡ ), Tibet Longrising Asset Management Co., Ltd. ( Гᔛ๕ᆀ᳅
ʮ̡ ), Shanghai Panjing Investment Management Center (Limited Partnership) ( ɪ
Υྫ ), Shanghai Tongyi Investment Management Co., Ltd. ( ɪऎஷ
ʮ̡ ), Shanghai Gaoyi Asset Management Partnership (Limited Partnership) ( ɪ
Υྫ )) who act for and on behalf of certain ultimate clients, by
which CSI will pass the full economic exposure of the Offer Shares placed to CSI to the CSI Ultimate
Client.
(ii) As confirmed by CSI and CLSA, CSI  will hold the legal title and beneficial interest in the Offer
Shares, but will contractually agree to pass on the full economic exposure and return of the Offer
Shares to the CSI Ultimate Client, on a non-discretionary basis. The CSI Ultimate Client may
exercise their early termination rights to terminate the CSI Client TRS at any time from the trade date
of the CSI Client TRS which should be on or after the date on which the Offer Shares are listed on
the Stock Exchange.
(iii) Upon the final maturity or termination of the CSI Client TRS by the CSI Ultimate Client, CSI will
dispose of the Offer Shares on the secondary market and the CSI Ultimate Client will receive a
final termination amount of the CSI Back-to-back TRS which will 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 Back- to-back TRS and the CSI Client TRS. Due to its internal policy, CSI will not
exercise the voting right of the Offer Shares during the terms of the CSI Back-to-back TRS.
(iv) CSI is not a collective investment schemes which is not authorized by the SFC, nor is expected to
hold the Offer Shares on behalf of such scheme.
(v) To the best knowledge of CSI after making all re asonable enquiries, each of the investment managers
and their ultimate beneficial owner is independent from each of the Company, its subsidiaries,
substantial shareholders, CSI, CLSA and the companies which are members of the same group of
CLSA.


--- page 27 ---
– 27 –
The details of the CSI Ultimate Client are as follows:
Investment Manager
UBOs holding 30%
or more interest
in Investment
Manager Name of CSI Ultimate Clients
Note
UBOs holding
30% or more
interest in CSI
Ultimate Clients
Not applicable Not applicable Canaan China Flagship Fund LIANG Hao
Hover4pi Capital Management HE Hui Hover4pi Fund I OFC None
Shenzhen Jingcong Asset
Management Ltd.
Zeng Huan ( ಀᛇ) Jingcong Qingfeng 18th Private
Securities Investment Fund
(ቜ18ږ)
Fu Zhaoxia ( ˹ಃᒳ)
Shanghai Greenwoods Asset
Management Co., Ltd.
Jiang Jinzhi ( ᇸᎀқ) Jinglin Fengshou No. 3 Private Fund
(ᔮϗ3ږ)
None
Shanghai Greenwoods Asset
Management Co., Ltd.
Jiang Jinzhi ( ᇸᎀқ) Jinglin Fengshou No. 6 Private Fund
(ᔮϗ6ږ)
None
Shanghai Greenwoods Asset
Management Co., Ltd.
Jiang Jinzhi ( ᇸᎀқ) Jinglin Fengshou No. 7 Private Fund
(ᔮϗ7ږ)
None
Shanghai Greenwoods Asset
Management Co., Ltd.
Jiang Jinzhi ( ᇸᎀқ) Jinglin Jingtai Fengshou Private
Securities Investment Fund
(ږ)
None
Tibet Longrising Asset Management
Co., Ltd.
Zeng Xiaojie
 (ಀወᆎ)
Longrising Qiangye Private Securities
Investment Fund
(ږ)
Hu Caiyang (੹ජ)
Shanghai Panjing Investment
Management Center (Limited
Partnership)
Zhuang Tao ( ୿ᏹ) Panshi Private Securities Investment
Fund (ږ)
None
Shanghai Panjing Investment
Management Center (Limited
Partnership)
Zhuang Tao ( ୿ᏹ) Panjing Xinghe No. 1 Private
Securities Investment Fund
(ᆵԯጳձ1ږ)
Zhuang Tao ( ୿ᏹ)
Shanghai Panjing Investment
Management Center (Limited
Partnership)
Zhuang Tao ( ୿ᏹ) Panjing Mingsheng Phase 1 Private
Securities Investment Fund
(᳅1ږ)
Zhuang Tao ( ୿ᏹ)
Shanghai Tongyi Investment
Management Co., Ltd.
Chu Yibo (تTongyi Anxin No. 2 Private Equity
Securities Investment Fund
(τ㒥2ږ)
Huang Shilin
(ර˰ᎌ)
Shanghai Tongyi Investment
Management Co., Ltd.
Chu Yibo (تTongyi Taoli No. 10 Private Equity
Securities Investment Fund
(ҽ10ږ)
None


--- page 28 ---
– 28 –
Investment Manager
UBOs holding 30%
or more interest
in Investment
Manager Name of CSI Ultimate Clients
Note
UBOs holding
30% or more
interest in CSI
Ultimate Clients
Shanghai Tongyi Investment
Management Co., Ltd.
Chu Yibo (تTongyi Taoli No. 1 Private Equity
Securities Investment Fund
(ҽ1ږ)
Wang Jing ( ˮ᎑)
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Golden Sun Gaoyi Guolu No. 1
Chongyuan Fund (˄ජ৷ᆇ਷᜼
1ږ)
None
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Gaoyi Ren Hao Youxuan Zhifu
Private Securities Investment Fund
(၅ӷ෍ᗇՎҳ༟
ږ)
None
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Gaoyi Ren Hao Jingxuan Chengze
Private Securities Investment Fund
(ዣӷ෍ᗇՎҳ༟
ږ)
None
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Gaoyi Ren Hao Zhenxuan Chunhe
Private Securities Investment Fund
(ձӷ෍ᗇՎҳ༟
ږ)
None
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Gaoyi Ren Hao Long-Term Value
Langrun Private Securities
Investment Fund (ಂᄆ
ږ)
None
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Gaoyi Liwei Xinshi Private Fund
(ږ)
None
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Gaoyi Liwei Jingxuan Weishi Fund
(ږ)
None
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Gaoyi Guolu Xinyuan Private
Securities Investment Fund
(ږ)
None
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Gaoyi Qingrui No. 6 Ruixing Fund
(৷ᆇᅅ๿6ږ)
None


--- page 29 ---
– 29 –
Investment Manager
UBOs holding 30%
or more interest
in Investment
Manager Name of CSI Ultimate Clients
Note
UBOs holding
30% or more
interest in CSI
Ultimate Clients
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Gaoyi Qingrui Youxuan Ruize Private
Securities Investment Fund ( ৷ᆇᅅ
ږ)
None
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Gaoyi Qingrui Zhenxuan Fengyuan
Private Securities Investment Fund
(৷ᆇᅅ๿ጲ፯㋘๕ӷ෍ᗇՎҳ༟
ږ)
None
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Gaoyi – Xiaofeng No. 1 Ruiyuan
Securities Investment Fund ( ৷ᆇÑ
ࢤ1ږ)
None
Shanghai Gaoyi Asset Management
Partnership (Limited Partnership)
None Gaoyi Xiaofeng No. 2 Zhixin Fund
(ࢤ2ږ)
None
Note: The English names of the CSI Ultimate Clients are not their official names and they are listed for
identification purpose only.
(2) GFGC proposes to subscribe for and hold the Offer  Shares as a placee under the International Offering
on a a non-discretionary basis. GFGC and GF Securities Co., Ltd. will enter into a series of cross border
delta one OTC swap transactions (the “ OTC Swaps ”) with each other and the ultimate clients (the “ GFGC
Ultimate Clients ”), pursuant to which GFGC will hold the Offer Shares on a non-discretionary basis to
hedge the OTC Swaps while the economic risks and returns of the underlying Offer Shares are passed to
the GFGC Ultimate Clients being Jing Cong Qing Feng No.18 Private Securities Investment Fund ( ౻੽
ቜ18ږwhich is held as to 30% or more interest by Fu Zhaoxia ( ˹ಃᒳ), subject
to customary fees and commissions. The OTC swaps will be fully funded by the GFGC Ultimate Clients.
During the terms of the OTC Swaps, all economic returns of the Offer Shares subscribed by GFGC will be
passed to the GFGC Ultimate Clients and all economic loss shall be borne by the GFGC Ultimate Clients
through the OTC Swaps, and GFGC will not take part in any economic return or bear any economic loss
in relation to the Offer Shares. The OTC Swaps are linked to the Offer Shares and the GFGC Ultimate
Clients may request GFGC to redeem it at their own discretions, upon which GFGC shall dispose of the
Offer Shares and settle OTC Swaps in cash in accordance with the terms and conditions of the OTC Swap.
Despite that GFGC will hold the legal title of the Offer Shares by itself, it will not exercise the voting rights
attaching to the relevant Offer Shares during the terms of the OTC Swaps according to its internal policy.
GFGC is not a collective investment schemes which is not authorized by the SFC, nor is expected to hold
the Offer Shares on behalf of such scheme.


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(3) PRC investors are currently not permitted under applicable PRC laws to participate directly in initial
public offerings (“ IPOs ”) in Hong Kong. However, PRC investors are permitted to invest in products
issued by appropriate domestic securities firms licensed to undertake cross-border derivatives trading
activities. In connection with such products, the licensed domestic securities firms, through their Hong
Kong affiliates, may participate in Hong Kong IPOs either as placees or cornerstone investors (the “ Cross-
border Derivatives Trading Regime ”). Huatai Securities Co., Ltd. (“ Huatai Securities ”), the shares of
which are listed on both the Shanghai Stock Exchange (stock code: 601688) and the Stock Exchange (stock
code: 6886), is one of the domestic securities firms licensed to undertake cross-border derivatives trading
activities. Huatai Securities entered into an ISDA agreement (the “ ISDA Agreement ”) with its indirectly
wholly-owned subsidiary, HTCI, to set out the principal terms of any future total return swap between
Huatai Securities and HTCI.
HTFH is one of the Overall Coordinators in connection  with the Global Offering. Pursuant to the ISDA
Agreement, HTCI, which intends to participate in the Global Offering as a placee, will hold the beneficial
interest of Offer Shares on a non-discretionary basis as the single underlying holder under a back-to-back
total return swap (the “ Back-to-back TRS ”) to be entered by HTCI in connection with a Client TRS (as
defined below) placed by and fully funded (i.e. with no financing provided by HTCI) by the Huatai Ultimate
Client (as defined below), by which, HTCI will, subject to customary fees and commissions, pass the full
economic exposure of the Offer Shares ultimately to the Huatai Ultimate Client, which in effect, HTCI
will hold the beneficial interest of the Offer Shares on behalf of the Huatai Ultimate Client. HTFH, being
one of the Overall Coordinators in connection with the Global Offering, and HTCI are indirectly wholly-
owned subsidiaries of Huatai Securities. Accordingly, HTCI is considered as a “connected client” of HTFH
pursuant to paragraph 13(7) of the Placing Guidelines.
Pursuant to the Cross-border Derivatives Trading Regime, Jiangxi Copper (Beijing) International
Investment Co., Ltd. (the “ Huatai Ultimate Client ”) cannot directly subscribe for the Offer Shares but
may invest in derivative products issued by domestic securities firms licenced to undertake cross-border
derivatives trading activities, such as Huatai Securities, with the Offer Shares as the underlying assets.
Instead of directly subscribing for the Offer Shares, the Huatai Ultimate Client will place a total return
swap order (the “ Client TRS ”) with Huatai Securities in connection with the Company’s Global Offering
and Huatai Securities will place a Back-to-back TRS order to HTCI on the terms of the ISDA Agreement.
In order to hedge its exposure under the Back-to-back TRS, HTCI participates in the Company’s Global
Offering and subscribes the Offer Shares through placing order with HTFH during the International
Offering.
To the best of our knowledge and after making all reasonable enquiries, each of the Huatai Ultimate Client
is an independent third party of the Company and their respective associates.
The purpose of HTCI to subscribe for the Offer Shares is for hedging the Back-to-back TRS in connection
with the Client TRS order placed by the Huatai Ultimate Client. Pursuant to the terms of the contracts of
the Back-to-back TRS and the Client TRS, during the tenor of the Back-to-back TRS and the Client TRS,
subject to customary fees and commissions, all economic returns of the Offer Shares will be ultimately
passed to the Huatai Ultimate Client through the Back-to-back TRS and the Client TRS and all economic
loss shall be ultimately borne by the Huatai Ultimate Client. HTCI will not take any economic return or bear
any economic loss in relation to the Offer Shares.


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Investment in the Back-to-back TRS and the Client TRS is similar to the investment in a qualified domestic
institutional investor fund (“ QDII”) in the way that the Huatai Ultimate Client would reap all the economic
benefits of the underlying Offer Shares, except that a QDII fund would pass through the exchange rate
exposure on both the notional value of the investment and the profit and loss of the investment. In contrast,
the profit and loss of the Back-to-back TRS and the Client TRS factor into account the fluctuation in
RMB exchange rate upon termination of the Client TRS by converting the profit and loss using the current
exchange rate at the time of termination. As such, the Huatai Ultimate Client would bear the exchange rate
exposure of the profit and loss on settlement date.
The Huatai Ultimate Client may exercise an early termination right to terminate the Client TRS at any
time from the issue date of the Client TRS which should be on or after the date on which the Offer
Shares are listed on the Stock Exchange at their own discretion. Upon  the termination upon maturity or
early termination of the Client TRS by the Huatai Ultimate Client, HTCI will dispose the Offer Shares
on the secondary market and the Huatai Ultimate Client will receive a final settlement amount in cash in
accordance with the terms and conditions of the Back-to-back TRS and the Client TRS which should have
taken into account all the economic returns or economic loss in relation to the Offer Shares. If upon the
maturity of the Client TRS, the Huatai Ultimate Client intend to extend the investment period, subject to
further agreement between Huatai Securities and the relevant Huatai Ultimate Client, the term of the Client
TRS could be extended by way of a new issuance or a tenor extension. Accordingly, Huatai Securities will
extend the term of the Back-to-back TRS by way of a new issuance or a tenor extension.
It is proposed that HTCI will hold the legal title and the voting right of the Offer Shares by itself, and pass
through the economic exposure to the Huatai Ultimate Client, each being an onshore client who places a
Client TRS order with Huatai Securities in connection with the Global Offering of the Company. HTCI will
not exercise the voting right of the Offer Shares during the tenor of the Back-to-back TRS.
During the life of the Client TRS and Back-to-back TRS, HTCI may continue to hold the Offer Shares in
its custodian account, or to hold some or all of the Offer Shares in a prime brokerage account for stock
borrowing purposes,where HTCI will lend out its holding of underlying Offer Shares in the form of stock
borrowing loans consistent with market practice to lower its finance costs, provided that HTCI has the
ability to call back the Offer Shares on loan at any time in order to satisfy its obligations under the Back-to-
back TRS to ensure the economic interests to are ultimately passed to the Huatai Ultimate Client.
HTCI is not a collective investment schemes which is not authorized by the SFC.
(4) The ultimate client of GF Securities AM (“ GF Securities AM Ultimate Client ”) has engaged GF Securities
AM, an asset manager that is qualified domestic institutional investor as approved by the relevant PRC
authority, in the name of CIB – GFAM WANXIANG NO.1 ( ᄿ೯༟၍ຬԮ 1ྌ
€QDII)), to subscribe for and hold the Offer Shares as a placee under the International Offering on behalf
of the GF Securities AM Ultimate Client on a non-discretionary basis (the “ GF Securities AM QDII
Arrangement ”).
(5) CITIC Asset Management will hold the Offer Shares in its capacity as the discretionary fund manager
managing the funds on behalf of its investors, each of which is, to the best knowledge of CITIC Asset
Management, an independent third party of the Company, its subsidiaries, its substantial shareholders,
CITIC Asset Management, CLSA and the companies which are members of the same group of CLSA.


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(6) CITIC Asset Management HK will hold the Offer Shares in its capacity as the discretionary fund manager
managing the funds on behalf of its investors, each of which is, to the best knowledge of CITIC Asset
Management HK, an independent third party of the Company, its subsidiaries, its substantial shareholders,
CITIC Asset Management HK, CLSA and the companies which are members of the same group of CLSA.
(7) China AMC HK will hold the Offer Shares in its capacity as the discretionary fund manager managing the
funds on behalf of its investors, each of which is, to the best knowledge of China AMC HK, an independent
third party of the Company, its subsidiaries, its substantial shareholders, China AMC HK, CLSA and the
companies which are members of the same group of CLSA.
(8) E Fund will hold the Offer Shares in its capacity as the discretionary fund manager managing the funds on
behalf of its investors, each of which is, to the best knowledge of E Fund, an independent third party of the
Company, its subsidiaries, its substantial shareholders, E Fund, GF Securities and the companies which are
members of the same group of GF Securities.
(9) E Fund HK will hold the Offer Shares in its capacity as the discretionary fund manager managing the funds
on behalf of its investors, each of which is, to the best knowledge of E Fund HK, an independent third party
of the Company, its subsidiaries, its substantial shareholders, E Fund HK, GF Securities and the companies
which are members of the same group of GF Securities.
(10) GF International will hold the Offer Shares in its capacity as the discretionary fund manager managing the
funds on behalf of its investors, each of which is, to the best knowledge of GF International, an independent
third party of the Company, its subsidiaries, its substantial shareholders, GF International, GF Securities
and the companies which are members of the same group of GF Securities.
(11) Details of the collective investment schemes which is not authorized by the SFC are as follows:
No. Fund name
Types and values
of assets under
management
Whether
the scheme
is publicly
marketed
Scheme
establishment
date
Identities of
the general
partners and
the 20 largest
limited partners
of the scheme
where
applicable
Identity of
the scheme
administrator
Relationships
among the scheme,
the ultimate beneficial
owner(s) of the limited
partner(s), the largest
group of the shareholders/
controlling shareholders
of the Company,
and the Company

1. GF Luminous Fund Private Fund
HKD 231 Million
as of February
2026
NO November
2025
Not applicable as
it is a private
fund
NuBright Fund
Services
Limited
The scheme and ultimate
beneficial owners are
independent third parties of
GF Securities (Hong Kong)
Brokerage, the Company and
the Controlling Shareholders
of the Company.


--- page 33 ---
– 33 –
No. Fund name
Types and values
of assets under
management
Whether
the scheme
is publicly
marketed
Scheme
establishment
date
Identities of
the general
partners and
the 20 largest
limited partners
of the scheme
where
applicable
Identity of
the scheme
administrator
Relationships
among the scheme,
the ultimate beneficial
owner(s) of the limited
partner(s), the largest
group of the shareholders/
controlling shareholders
of the Company,
and the Company

2. GF Vision Fund Private Fund
HKD 81 Million
as of March 2026
NO March 2026 Not applicable as
it is a private
fund
NuBright Fund
Services
Limited
The scheme and ultimate
beneficial owners are
independent third parties of
GF Securities (Hong Kong)
Brokerage, the Company and
the Controlling Shareholders
of the Company.
3. Golden Stone Fund Private Fund
HKD 49 Million
as of February
2026
NO November
2025
Not applicable as
it is a private
fund
NuBright Fund
Services
Limited
The scheme and ultimate
beneficial owners are
independent third parties of
GF Securities (Hong Kong)
Brokerage, the Company and
the Controlling Shareholders
of the Company.
4. Golden Fortune
Opportunity Fund
Private Fund
HKD 45 Million
as of February
2026
NO November
2013
Not applicable as
it is a private
fund
ICBC (Aisa)
Trustee
Company
Limited
The scheme and ultimate
beneficial owners are
independent third parties of
GF Securities (Hong Kong)
Brokerage, the Company and
the Controlling Shareholders
of the Company.
DISCLAIMERS
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and
Hong Kong Securities Clearing Company Limited 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.


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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 doe s 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 March 12, 2026 issued by Delton
Technology (Guangzhou) Inc. for detailed information about the Global Offering described
below before deciding whether or not to invest in the H Shares thereby being offered.
* Potential investors of the Offer Shares should note that the Joint Sponsors and the Sponsor-
Overall Coordinators (for themselves and on behalf of the Overall Coordinators and the
Hong Kong Underwriters) shall be entitled to terminate its obligations under 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 Friday, March 20,
2026).
PUBLIC FLOAT AND FREE FLOAT
Immediately following the completion of the Global Offering, the H Shares expected to be held
by the public have an expected value of approximately HK$3.31 billion (calculated based on the
Offer Price of HK$71.88 per H Share), which is higher than the prescribed market value of the
H Shares required to be held by the public of HK$3 billion under Rule 19A.13A(2). Based on
the above, it is expected that our Company will satisfy the public float requirements as required
under Rule 19A.13A(2) of the Listing Rules.


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Considering that the final Offer Price is fixed at the Offer Price of HK$71.88 per Offer Share,
save for 20,674,500 H Shares (representing 4.38% of our total issued Shares immediately upon
completion of the Global Offering) to be issued to the cornerstone investors that are subject to
disposal restrictions for a period of six months from the Listing Date, the remaining 25,325,500
H Shares with an expected market capitalization of approximately HK$1,820.40 million,
which is higher than HK$600 million under Rule 19A.13C, will not be subject to any disposal
restrictions (whether under contract, the Listing Rules, applicable laws or otherwise) at the time
of the Listing. Our Company will satisfy the free float requirement under Rule 19A.13C 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.
COMMENCEMENT OF DEALINGS
The H Share certificates will only become valid evidence of title at 8:00 a.m. on Friday, March
20, 2026 (Hong Kong time), provided that the Global Offering has become unconditional
and the right of termination described in the section headed “Underwriting – Underwriting
Arrangements and Expenses – Hong Kong Public Offering – Grounds for Termination” in the
Prospectus has not been exercised. Investors who trade the H Shares on the basis of publicly
available allocation details prior to the receipt of H Share certificates or prior to the H Share
certificates becoming valid evidence of title do so entirely at their own risk.


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Assuming that the Global Offering becomes unconditional at or before  8:00 a.m. on Friday,
March 20, 2026 (Hong Kong time), it is expected that dealings in the H Shares on the Stock
Exchange will commence at 9:00 a.m. on Friday, March 20, 2026 (Hong Kong time). The H
Shares will be traded in board lots of 100 H Shares each, and the stock code of the H Shares will
be 1989.
By order of the Board
Delton Technology (Guangzhou) Inc.
Xiao Hongxing
Chairman of the Board
Hong Kong, March 19, 2026
As of the date of this announcement, the Board comprises Mr. Xiao Hongxing, Ms. Zeng Hong
and Mr. Peng Jinghui as executive directors, Ms. Liu Jinchan as non-executive director, and
Ms. Chen Limei, Ms. Li Ying and Dr. Shi Ling as independent non-executive directors.