hk-ipo/data/extracted_text/06067/allotment_results_2026-06-22_2026062202141.txt

--- page 1 ---
Hong Kong Exchanges and Clearing Limite d, The Stock Exchange of Hong Kong Limited
(the “Stock Exchange ”) and Hong Kong Securities Clearing Company Limited
(“HKSCC ”) take no responsibility for the contents of this announcement, make no
representation as to its accuracy or complet eness and expressly 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, capitaliz ed terms used in this announcement shall have the
same meanings as those defined in the prospectus dated 12 June 2026 (the “ Prospectus ”)
issued by Shenzhen Senior Technology Material Co., Ltd. ( 深圳市星源材質科技股份有限
公司)( t h e“ Company ”).
This announcement is for information purposes only and does not constitute an offer or an
invitation to induce an offer by any person t o acquire, purchase or subscribe for any
securities of the Company. This announcement i s not a prospectus. Potential investors
should read the Prospectus for detailed i nformation 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 S hares should be taken solely in reliance on the
information provided in the Prospectus.
This announcement is not for relea se, publication, distribution, directly or indirectly, in or
into the United States (including its territo ries 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 o r solicitation to purchase or subscribe for any
securities in the United States or in any other j urisdiction. The Offer Shares have not been,
and will not be, registered under the United S tates 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, so ld, pledged or otherwise transferred within
the United States, except pursuant to an avail able exemption from, or in a transaction not
subject to, the registration requirements of t he U.S. Securities Act and in compliance with
any applicable state securities laws. The O ffer Shares are being offered and sold solely
outside the United States in offshore transac tions in reliance on Regulation S under the U.S.
Securities Act. There will be no public offer o f the Offer Shares in the United States.
Potential investors of the Offer Shares should note that the Sole Sponsor and the
Sponsor-OC (for itself and on behalf of the other Hong Kong Underwriters) shall be
entitled to terminate their obligations under t he Hong Kong Underwriting Agreement with
immediate effect upon the occurrence of any of the events set out in the paragraph headed
“Underwriting — Underwriting Arrangeme nts 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 Tue sday, 23 June 2026).
–1–


--- page 2 ---
Shenzhen Senior Technology Material Co., Ltd.
深 圳 市 星 源 材 質 科 技 股 份 有 限 公 司
(A joint stock company incorporated in the Peopl e’s Republic of China with limited liability)
GLOBAL OFFERING
Number of Offer Shares under the
Global Offering
: 149,523,500 H Shares
Number of Hong Kong Offer Shares : 14,952,500 H Shares
Number of International Offer Shares : 134,571,000 H Shares
Final Offer Price : HK$8.98 per Offer Share, plus brokerage
of 1.0%, SFC transaction levy of
0.0027%, Stock Exchange trading fee of
0.00565%, and AFRC transaction levy of
0.00015%
Nominal Value : RMB1.00 per Share
Stock Code : 6067
Sole Sponsor, Sponsor-Overall Coordi nator, Joint Global Coordinator,
Joint Bookrunner and Joint Lead Manager
Overall Coordinators, Joint Global Coordinators,
Joint Bookrunners and Joint Lead Managers
Joint Global Coordinators, Join t Bookrunners and Joint Lead Managers
Joint Bookrunners and Joint Lead Managers
–2–


--- page 3 ---
SHENZHEN SENIOR TECHNOLOGY MATERIAL CO., LTD.
深圳市星源材質科技股份有限公司
ANNOUNCEMENT OF ALLOTMENT RESULTS
Unless otherwise defined herein, capitalise d terms used in this announcement shall have the
same meanings as those defined in the Prospectus issued by the Company.
SUMMARY
Company information
Stock code 6067
Stock short name SENIOR MATERIAL
Dealings commencement date 23 June 2026*
* see note at the end of the announcement
Price Information
Final Offer Price HK$8.98
Maximum Offer Price HK$8.98
Offer Shares and Share Capital
Number of Offer Shares 149,523,500 H Shares
Final Number of Offer Shares in Hong Kong Public
Offering
14,952,500 H Shares
Final Number of Offer Shares in International
Offering
134,571,000 H Shares
Number of issued shares upon Listing 1,495,234,139
Proceeds
Gross proceeds (Note) HK$1,342.7 million
Less: Estimated listing expenses payable based on
Final Offer Price
HK$61.7 million
Net proceeds HK$1,281.0 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 section headed “Future Plans and Use of Proceeds” in the Prospectus.
–3–


--- page 4 ---
ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING
No. of valid applications 209,580
No. of successful applications 22,263
Subscription level 1,563.16 times
Claw-back triggered N/A
No. of Offer Shares initially available under the Hong Kong
Public Offering
14,952,500
No. of Offer Shares reallocated f rom the International Offering 0
Final no. of Offer Shares under t he Hong Kong Public Offering 14,952,500
% of Offer Shares under the Hong Kong Public Offering to the
Global Offering
10%
Note: For details of the final allocation of shares to the Hong Kong Public Offering, investors can refer to
www.eipo.com.hk/eIPOAllotment to perfo r mas e a r c hb yi d e n t i f i c a t i o nn u m b e ro r
www.eipo.com.hk/eIPOAllotment for the full list of allottees.
INTERNATIONAL OFFERING
No. of placees 104
Subscription Level 14.34 times
No. of Offer Shares initially a vailable under the International
Offering
134,571,000
No. of Offer Shares reallocated to the Hong Kong Public Offering 0
Final no. of Offer Shares under the International Offering 134,571,000
% of Offer Shares under the Inter national Offering to the Global
Offering
90%
The Directors confirm that, to the best of thei r knowledge, information and belief, save for
(a) a waiver from strict compliance with Rul e 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 H Shares in the International Offering to be
placed to certain Permitted Existing Share holders, (b) a consent under paragraph 18 of
Chapter 4.15 of the Guide for New Listing Ap plicants to permit the Company to, among
other things, allocate further H Shares in the International Offering to certain minority
existing shareholders and/or their close associates and cert ain Cornerstone Investors and
their close associates as disclosed in this announcement, and (c) a consent under paragraph
1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide to New Listing Applicants
(the “ Guide ”) granted by the Stock Exchange to pe rmit H Shares in the International
Offering to be placed to certain connected cl ients as disclosed in this announcement, (i)
none of the Offer Shares subscribed by the p lacees and the public have been financed
directly or indirectly by the Company, any of th e Directors, chief executive of the Company,
substantial shareholde rs, existing shareholders of the Com pany or any of its subsidiaries or
–4–


--- page 5 ---
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 Comp any, substantial shareholders, existing
shareholders of the Company or any of its subsidia ries or their respective close associates
in relation to the acquisition, disposal, votin g or other disposition of H Shares registered in
his/her/its name or otherwise held by him/her/it.
The placees in the Internationa l Offer include the following:
Cornerstone Investors (Note 1)
Name
No. of Offer
Shares
allocated
%o fO f f e r
Shares
%o ft o t a l
issued H
Shares after
the Global
Offering
% of total
issued Shares
after the
Global
Offering
(Note 3)
Existing
shareholders
or their close
associates
Fullgoal Fund
Management Co., Ltd.
(“Fullgoal ”)
6,720,500 4.49% 4.49% 0.45% Yes
GF Fund Management
Co., Ltd. and GF
International Investment
Management Limited
(together, “ GF Fund ”)
(Note 2)
5,673,000 3.79% 3.79% 0.38% Yes
TAIKANG LIFE
INSURANCE CO., LTD
(“Taikang Life ”)
(Note 2)
5,673,000 3.79% 3.79% 0.38% Yes
HARVEST
INTERNATIONAL
PREMIUM VALUE
(SECONDARY
MARKET) FUND SPC
acting on behalf of and
for HARVEST
SYNERGY SP (“ Harvest
Synergy ”) (Note 2)
4,922,500 3.29% 3.29% 0.33% No
SPRINGS CAPITAL
(HONG KONG)
LIMITED (“ Springs
Capital ”)
5,567,500 3.72% 3.72% 0.37% No
–5–


--- page 6 ---
Name
No. of Offer
Shares
allocated
%o fO f f e r
Shares
%o ft o t a l
issued H
Shares after
the Global
Offering
% of total
issued Shares
after the
Global
Offering
(Note 3)
Existing
shareholders
or their close
associates
Gaoteng Enterprise
Management Co., Ltd.
(“Gaoteng Enterprise
Management ”) and
CICC FINANCIAL
TRADING LIMITED
(“CICC FT ”) (in
connection with OTC
Swaps) (Notes 2 and 4)
2,618,000 1.75% 1.75% 0.18% No
Sunwoda Treasury
(Hong Kong) Limited
(“Sunwoda Treasury ”)
2,560,000 1.71% 1.71% 0.17% No
JINKOSOLAR
INVESTMENT
LIMITED (“ Jinkosolar ”)
4,454,000 2.98% 2.98% 0.30% No
Mondeomax Limited
(“Mondeomax ”)
11,024,500 7.37% 7.37% 0.74% No
Bona Star Consultant
Limited (“ Bona Star ”)
(Note 2)
8,351,500 5.59% 5.59% 0.56% No
SINSANWA
HOLDINGS (H.K.)
CO., LIMITED
(“Sinsanwa ”)
5,567,500 3.72% 3.72% 0.37% No
SHEEN NATION
HOLDINGS LIMITED
(“Sheen Nation ”)
2,618,000 1.75% 1.75% 0.18% No
Chen Feng 1,745,500 1.17% 1.17% 0.12% No
Total 67,495,500 45.14% 45.14% 4.51%
Notes:
1. For further details of the Cornerstone Investors, please refer to the section headed “Cornerstone
Investors” in the Prospectus.
–6–


--- page 7 ---
2. In addition to the Offer Shares subscribed for as Cornerstone Investors, GF Fund, Taikang Life,
Harvest Synergy, Bona Star, Gaoteng Enterpr ise Management, Fullgoal, Chen Feng and Sheen
Nation and/or their respective close associates, whe re applicable, were allocated further Offer Shares
as placees in the International Offering. Please ref er to the section headed “Allotment Results Details
— International Offering — Allotees 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.
3. Not taking into account any A Shares held by the re levant investors and including the 19,855,640 A
Shares being held as treasury shares as at the date of this announcement.
4. CICC FT will hold the Offer Shares on a non-discre tionary basis to hedge the OTC Swaps (as defined
in the Prospectus), while the economic risks and re turns of the underlying Offer Shares are passed to
the CICC FT Ultimate Client, i.e. Gaoteng Enterp rise Management. Gortune Investment Co., Ltd.
(廣東民營投資股份有限公司)( “ Gortune Investment ”) is the controlling shareholder of Gaoteng
Enterprise Management, holding 99.94% of its i ssued shares. To the best of CICC FT’s knowledge
having made all reasonable inquiries, the CICC FT Ultimate Client is an independent third party of
CICC FT, CICCHKS and the companies which are members of the same group of CICCHKS, and
there is no single shareholder who holds more 30% or more interests in Gortune Investment. For
details, please refer to the section headed “ Cornerstone Investors” of the Prospectus.
Allotees with waivers/consents obtained
Name
No. of Offer
Shares allocated
% of Offer
Shares
% of total
issued H Shares
after the Global
Offering
% of total
issued Shares
after the Global
Offering (Note
4) Relationship
Allotees with waiver from strict compliance with 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 Permitted Existing Shareholders holding more than 1% of the
issued share capital of the Company immediately prior to the c ompletion of the Global Offering and/or their close associates
(Note 1)
Fullgoal 7,349,000 4.91% 4.91% 0.49% Fullgoal 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
Fullgoal Asset
Management (HK)
Limited
206,500 0.14% 0.14% 0.01% Fullgoal Asset
Management (HK)
Limited is
wholly-owned by
Fullgoal
–7–


--- page 8 ---
Name
No. of Offer
Shares allocated
% of Offer
Shares
% of total
issued H Shares
after the Global
Offering
% of total
issued Shares
after the Global
Offering (Note
4) Relationship
Allotees with consent under paragraph 18 of Chapter 4.15 of the G uide for New Listing Applicants i n relation to allocations of
further H Shares to existing shareholders and Corn erstone Investors and/or their close associates (Note 2)
GF Fund 1,112,000 0.74% 0.74% 0.07% Cornerstone Investor
Taikang Life 724,000 0.48% 0.48% 0.05% Cornerstone Investor
Harvest Global
Capital Investments
Limited
1,782,000 1.19% 1.19% 0.12% The fund manager of a
Cornerstone Investor,
namely Harvest Synergy
SP
Bona Star 4,409,000 2.95% 2.95% 0.29% Cornerstone Investor
SEA2SEA
International Pte Ltd
3,087,000 2.06% 2.06% 0.21% Wholly-owned by the
spouse of the sole
shareholder of, and
thus a close associate
of, a Cornerstone
Investor, namely Bona
Star
Yuemintou New
Opportunity No. 1
Private Securities
Investment Fund and
SHENWAN
HONGYUAN
(INTERNATIONAL)
HOLDINGS
LIMITED (in
connection with OTC
Swaps)
110,000 0.07% 0.07% 0.01% A fund managed by
Yuemin Investment
Private Securities Fund
Management
(Shenzhen) Company
Limited (“ Yuemin
Investment ”). Yuemin
Investment is the GP
Of Yuemintou Private
Securities Management
Co., Ltd, which shares
the same controlling
shareholder as a
Cornerstone Investor,
namely Gaoteng
Enterprise Management
Fullgoal 628,500 0.42% 0.42% 0.04% Cornerstone Investor
Fullgoal Asset
Management (HK)
Limited
206,500 0.14% 0.14% 0.01% Wholly-owned by a
Cornerstone Investor,
namely Fullgoal
Chen Feng 20,000 0.01% 0.01% 0.00% Cornerstone Investor
ICBCUBSI 2,000 0.00% 0.00% 0.00% ICBCUBSI shares the
same ultimate beneficial
owner as a cornerstone
investor, namely Sheen
Nation
–8–


--- page 9 ---
Name
No. of Offer
Shares allocated
% of Offer
Shares
% of total
issued H Shares
after the Global
Offering
% of total
issued Shares
after the Global
Offering (Note
4) Relationship
Allotees with consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide in relation to
allocations to connected clients (Note 3)
CICC FT
(in connection with
the OTC Swaps)
(Note 5)
25,500 0.02% 0.02% 0.00% CICC FT is a member
of the same group as
China International
Capital Corporation
Hong Kong Securities
Limited (“ CICCHKS ”)
CICC FT (in
connection the OTC
swaps) (Note 12)
2,618,000 1.75% 1.75% 0.18% CICC FT is a member
of the same group as
China International
Capital Corporation
Hong Kong Securities
Limited
Huatai Capital
Investment Limited
(“HTCI”) (Note 6)
11,024,000 7.37% 7.37% 0.74% Huatai Capital
Investment Limited is a
member of the same
group as Huatai
Financial Holdings
(Hong Kong) Limited
(“HTFH ”)
China Asset
Management (Hong
Kong) Limited
(“China AMC HK ”)
(Note 7)
25,500 0.02% 0.02% 0.00% China Asset
Management (Hong
Kong) Limited is a
member of the same
group as CITIC
Securities Brokerage
(HK) Limited (a
distributor of the
Global Offering)
(“CSB ”)
ICBC UBS Asset
Management Co.,
(International) Ltd.
(“ICBCUBSI ”)
(Note 8)
2,000 0.00% 0.00% 0.00% ICBC UBS Asset
Management Co.,
(International) Ltd. is a
member of the same
group as ICBC
International Securities
Limited (“ ICBCI ”)
–9–


--- page 10 ---
Name
No. of Offer
Shares allocated
% of Offer
Shares
% of total
issued H Shares
after the Global
Offering
% of total
issued Shares
after the Global
Offering (Note
4) Relationship
ICBC International
Fund Management
Limited (“ ICBC
International ”)
(Note 9)
2,000 0.00% 0.00% 0.00% ICBC International
Fund Management is a
member of the same
group as ICBC
International Securities
Limited
AEGON-Industrial
Fund Management
Co., Ltd.
(“AEGON ”)
(Note 10)
9,000 0.01% 0.01% 0.00% China Industrial
Securities International
Capital Limited
(“CISI ”) (a distributor
of the Global Offering)
is the controlling
shareholder of
AEGON-Industrial
Fund Management Co.,
Ltd.
Red South OFC-Red
South Mining
Technology Fund
(“Red South ”)
(Note 11)
4,652,000 3.11% 3.11% 0.31% VHS is wholly-owned
by Vast Harbour
Financial International
Holding Limited, which
holds 25% interest in
Red South
Notes:
1. Among the Cornerstone Investors, GF Fund, GF International, Fullgoal and Taikang Life are
Permitted Existing Shareholder s. 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
Permitted Existing Shareholders. Please refer t o the section headed “Waivers — Allocation of H
Shares to Existing Minority Shareholders and Their Close Associates” of the Prospectus for details.
The Stock Exchange granted the waiver and consent on the condition that, among others, details of
the allocation to the Permitted Existing Shareho lders holding more than 1% of the issued share
capital of the Company and/or their close associ ates immediately prior to the completion of the
Global Offering will be disclosed in the Prospectus and/or allotment results announcement.
2. The number of Offer Shares allocated to the relevant in vestors listed in this subsection only represents
the number of Offer Shares allocated to the investo rs as placees in the International Offering. For
allocations of Offer Shares to the relevant invest ors as Cornerstone Investors, please refer to the
section headed “Allotment Results Details — International Offering — Cornerstone Investors” in this
announcement. For details of the consent under paragraph 18 of Chapter 4.15 of the Guide for New
Listing Applicants in relation to allocations of f urther H Shares to the existing Shareholders and
cornerstone investors and/or their close a ssociates, please refer to the section headed
“Others/Additional Information — Allocation of Offer Shares to existing Shareholders and
cornerstone investors and/or th eir close associates with a consent under paragraph 18 of Chapter
4.15 of the Guide for New Listing Applicants” in this announcement.
–1 0–


--- page 11 ---
3. For details of the consent under paragraphs 1C(1) of the Placing Guidelines in relation to allocations
to connected clients, please refer to the section hea ded “Others/Additional Information — Placing to
connected clients with prior consent under paragraph 1C(1) of the Placing Guidelines” in this
announcement.
4. Not taking into account any A Shares held by the relevant investors.
5. CICC FT will hold the Offer Shares on a non-discretionary basis for and on behalf the ultimate
clients (the “ CICC FT Ultimate Clients ”). CICC FT and CICCL will enter into a series of cross border
delta-one OTC swap transactions (collectively, the “ OTC Swaps ”) with each other and the CICC FT
Ultimate Clients, pursuant to which CICC FT will ho ld 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 CICC FT Ultimate Clients, subject to c ustomary fees and commissions. The OTC Swaps
will be fully funded by the CICC FT Ultimate Clie nts. During the terms of the OTC Swaps, all
economic returns of the Offer Shares subscribe d by CICC FT will be passed to the CICC FT Ultimate
Clients and all economic loss shall be borne by the CICC FT Ultimate Clients through the OTC
Swaps, and CICC FT and CICCL will not take part in any economic return or bear any economic loss
in relation to the Offer Shares. The OTC Swaps a re linked to the Offer Shares and the CICC FT
Ultimate Clients may request to early terminate the OTC Swaps at their own discretions, upon which
CICC FT may dispose of the Offer Shares and settle the OTC Swaps in cash in accordance with the
terms and conditions of the OTC Swaps. Despite t hat CICC FT will hold the legal title of the Offer
Shares by itself, it will not exercise the voting righ ts attaching to the relevant Offer Shares during the
terms of the OTC Swaps according to its internal policy.
The CICC FT Ultimate Clients for purpose of this placee subscription include (i) Yuanlesheng
Qiangye Private Securities Investment Fund ( 源樂晟強業私募證券投資基金), whose fund manager is
Tibet Yuanlesheng Asset Management Company Ltd. (“ Tibet Longrising ”, 西藏源樂晟資產管理有限
公司) and ultimate beneficial owners holding 30% or more interest are Zeng Xiaojie and Hu Caiyang,
(ii) Yuanlesheng Qiangshu Privat e Securities Investment Fund ( 源樂晟強樹私募證券投資基金), whose
fund manager is Tibet Longrising and ultimate beneficial owner holding 30% or more interest is Zeng
Xiaojie, (iii) Yuanlesheng Qiangshi Pri vate Securities Investment Fund ( 源樂晟強勢私募證券投資基
金), whose fund manager is Tibet Longrising and ultimate beneficial owner holding 30% or more
interest is Zeng Xiaojie.
To the best knowledge of CICC FT after due enquir y, each of the CICC FT Ultimate Clients and their
ultimate beneficial owners are independent third parties of the Company, its subsidiaries, CICC FT,
CICCHKS and the companies which are members of the same group as CICC FT and CICCHKS.
6. PRC investors are currently not permitted under app licable 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 licen sed to undertake cross-bo rder derivatives trading
a c t i v i t i e s .I nc o n n e c t i o nw i t hs u c hp r o d u c t s ,t h elicensed domestic securities firms, through their
Hong Kong affiliates, may partici pate in Hong Kong IPOs either as pl acees or corners tone 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 licensed to
undertake cross-border derivatives trading activ ities. Huatai Securities has 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.
–1 1–


--- page 12 ---
Pursuant to the ISDA Agreement, HTCI, which intends to participate as a placee to subscribe for the
Offer Shares under the International Offering (the “ Proposed Subscription ”), will hold the beneficial
interest of the 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 ” )t ob ee n t e r e db yH T C Ii nc o n n e c t i o nw i t ha
total return swap order (the “ Client TRS ”) placed by and fully funded (i.e. with no financing provided
by HTCI) by an onshore investor (the “ Huatai Ultimate Client ”), 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. In effect, HTCI will hold the b eneficial interest of the Offer Shares on behalf
of the Huatai Ultimate Client. HTFH and HTCI are i ndirectly wholly-owned subsidiaries of Huatai
Securities.
Pursuant to the Cross-border Derivatives Trading Regime, 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, through its investment m anager, will place the Client TRS with Huatai
Securities in connection with the Company’s IPO and Huatai Securities w ill place a Back-to-back
TRS order to HTCI on the terms of the ISDA Agreem ent. In order to hedge its exposure under the
Back-to-back TRS, HTCI intends to participate i n the Company’s IPO and subscribe to the Offer
Shares through placing an order with HTFH during the International Offering.
The Huatai Ultimate Client for purpose of the Propo sed Subscription is Wanli No. 3 Private Equity
Investment Fund ( 萬利3號私募證券投資基金). To the best of HTCI’s knowledge having made all
reasonable inquiries, the Huatai Ultimate Clie nt is an independent third party of HTCI, HTFH and
the companies which are members of the same group of HTFH.
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 H uatai Ultimate Client. Pursuant to the terms of
the contracts of the Back-to-back TRS and the Clie nt TRS, during the tenor of the Back-to-back TRS
and the Client TRS, subject to customary fees an d commissions, all economic returns of the Offer
Shares will be ultimately passed to the Huatai Ult imate 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 eco nomic loss in relation to the Offer Shares.
Investment in the Back-to-back TRS and the Clie nt 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 th e 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 expo sure of the profit and loss on settlement date.
The Huatai Ultimate Client may, ending on the date which is six months from the Listing Date,
exercise an early termination right to terminate t he 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 its own discretion. Upon the termin ation 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 C lient intend to extend the investment period,
subject to further agreement between Huatai Secu rities and the Huatai Ultimate Client, the term of
the Client TRS could be extended by way of a new issu ance 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
–1 2–


--- page 13 ---
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 Huata i Ultimate Client, being an onshore client who
places a Client TRS order with Huatai Securities in connection with the IPO 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-b ack 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 HT CI will lend out its holding of underlying Offer
Shares in the form of stock borrowing loans consisten t with market practice to lower its finance costs,
provided that HTCI has the ability to call back the O ffer Shares on loan at any time in order to satisfy
its obligations under the Back-to-back TRS to ensu re the economic interests are ultimately passed to
the Huatai Ultimate Client.
To the best knowledge of HTCI after due enquir y, the Huatai Ultimate Client and its ultimate
beneficial owner(s) are independent third parties of the Company, its subsidiaries, HTCI, HTFH and
the companies which are members o f the same group as HTCI and HTFH.
7. China AMC HK will hold the Offer Shares in its capacity as the discretionary fund manager
managing assets on behalf of its underlying clients o r mandates, which are independent third parties.
To the best knowledge of China AMC HK after due enquiry, each of the underlying clients or
mandates of China AMC HK and their respective ultimate beneficial owner holding 30% or more
interest is an independent third party of China AMC HK and CSB, and the companies which are
members of the same group of companies as CSB.
8. ICBC UBS will hold the Offer Shares in its capacity as the discretionary fund manager managing the
funds on behalf of a discretionary account, who is an independent third party of ICBC UBS and
ICBCI, and the companies which are members of the same group of companies as ICBCI.
9. ICBC International will hold the Offer Shares in i ts capacity as the discretionary fund manager
managing the funds on behalf of a discretionary account, who is an independent third party of ICBC
International and ICBCI, and the companies which are members of the same group of companies as
ICBCI.
10. AEGON will hold the Offer Shares in its capacity as the discretionary fund manager managing assets
on behalf of its underlying clients or mandates, which are independent third parties. To the best
knowledge of AEGON after due enquiry, each of the underlying clients or mandates of AEGON and
their respective ultimate beneficial owners is an independent third party of AEGON and CISI, and
the companies which are members of the same group of companies as AEGON and CISI.
11. Red South will hold the Offer Shares in its capa city as the discretionary fund manager managing
assets on behalf of its underlying clients or mandates, which are independent third parties. To the best
knowledge of Red South after due enquiry, each of the underlying clients or mandates of Red South
and their respective ultimate beneficial owners is an independent third party of Red South and VHS,
and the companies which are members of the same group of companies as Red South and VHS.
12. CICC will hold the Offer Shares on non-discretio nary basis on behalf of the ultimate clients (the
“Gaoteng CICC FT Ultimate Client ”). CICC FT and CICCL will enter into a series of OTC Swaps
with each other and the Gaoteng CICC FT Ultimate C lient, pursuant to which CICC FT 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 Gaoteng CICC FT Ultimate Client, subject to
customary fees and commissions. The OTC Swaps will be fully funded by the Gaoteng CICC FT
Ultimate Client. During the terms of the OTC Swa ps, all economic returns of the Offer Shares
subscribed by CICC FT will be passed to the Gaoteng CICC FT Ultimate Client and all economic loss
shall be borne by the Gaoteng CICC FT Ultimate Client through the OTC Swaps, and CICC FT 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 th e Gaoteng CICC FT Ultimate Client may, after
expiration of the lock-up period beginning from t he date of the Cornerstone Investment Agreement
entered into between CICC FT and the Company and ending on the date which is six months from the
–1 3–


--- page 14 ---
Listing Date, request to early terminate the OTC S waps at their own discretions, upon which CICC
FT may dispose of the Offer Shares and settle the OTC Swaps in cash in accordance with the terms
and conditions of the OTC Swaps. Despite that CICC FT will hold the legal title of the Offer Shares
by itself, it will not exercise the voting rights atta ching to the relevant Offer Shares during the terms
of the OTC Swaps according to its internal policy. To the best of CICC FT’s knowledge having made
all reasonable inquiries, CICC FT Ultimate Client is an independent third party of CICC FT,
CICCHKS and the companies which are members of the same group of CICCHK.
The Gaoteng CICC FT Ultimate Client is Gaoteng E nterprise Management. Gaoteng Enterprise
Management is a joint stock company limited by sh ares incorporated in Zhuhai, Guangdong, the
PRC, with principal activities comprising investm ent holding, business management, investment in
self-owned assets, economic and information consulting, and financial consulting. Gorgone
Investment is the controlling shareholder of Ga oteng Enterprise Management, holding 99.94% of
its issued shares. To the best knowledge of CICC FT, there is no single shareholder who holds 30% or
more interests in Gortune Investment.
LOCK-UP UNDERTAKINGS
Cornerstone Investors
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
%o ft o t a l
issued H
Shares after
the Global
Offering
subject to
lock-up
undertakings
upon listing
%o f
shareholding
in the
Company
subject to
lock-up
undertakings
upon listing
Last day subject
to the lock-up
undertakings Note 1
Fullgoal 6,720,500 6,720,500 4.49% 0.45% 22 December 2026
GF Fund 5,673,000 5,673,000 3.79% 0.38% 22 December 2026
Taikang Life 5,673,000 5,673,000 3.79% 0.38% 22 December 2026
HARVEST
INTERNATIONAL
PREMIUM VALUE
(SECONDARY
MARKET) FUND
SPC acting on
behalf of and for
HARVEST
SYNERGY SP
4,922,500 4,922,500 3.29% 0.33% 22 December 2026
Springs Capital 5,567,500 5,567,500 3.72% 0.37% 22 December 2026
Gaoteng Enterprise
Management and
CICC FT (in
connection with
OTC Swaps)
2,618,000 2,618,000 1.75% 0.18% 22 December 2026
Sunwoda Treasury 2,560,000 2,560,000 1.71% 0.17% 22 December 2026
Jinkosolar 4,454,000 4,454,000 2.98% 0.30% 22 December 2026
Mondeomax 11,024,500 11,024,500 7.37% 0.74% 22 December 2026
–1 4–


--- page 15 ---
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
%o ft o t a l
issued H
Shares after
the Global
Offering
subject to
lock-up
undertakings
upon listing
%o f
shareholding
in the
Company
subject to
lock-up
undertakings
upon listing
Last day subject
to the lock-up
undertakings Note 1
Bona Star 8,351,500 8,351,500 5.59% 0.56% 22 December 2026
Sinsanwa 5,567,500 5,567,500 3.72% 0.37% 22 December 2026
Sheen Nation 2,618,000 2,618,000 1.75% 0.18% 22 December 2026
Chen Feng 1,745,500 1,745,500 1.17% 0.12% 22 December 2026
Total 67,495,500 67,495,500 45.14% 4.51%
Note:
1. In accordance with the relevant cornerstone investment agreements, the required lock-up ends on 22
December 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
%o f
International
Offering
Allotment as
%o ft o t a l
Offer Shares
Number of
H Shares
held upon
Listing
%o ft o t a l
issued share
capital upon
Listing
Top 1 15,847,500 11.78% 10.60% 15,847,500 1.06%
Top 5 56,542,500 42.02% 37.82% 56,542,500 3.78%
Top 10 89,552,000 66.55% 59.89% 89,552,000 7.23%
Top 25 129,770,000 96.43% 86.79% 129,770,000 9.92%
Notes
* Ranking of placees is based on the number of H Shares allotted to the placees.
–1 5–


--- page 16 ---
H SHAREHOLDERS CONCENTRATION ANALYSIS
H Shareholders *
Number of
HS h a r e s
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 15,847,500 11.78% 10.60% 15,847,500 10.60% 15,847,500
Top 5 56,542,500 42.02% 37.82% 56,542,500 37.82% 56,542,500
Top 10 89,552,000 66.55% 59.89% 89,552,000 59.89% 108,113,590
Top 25 129,770,000 96.43% 86.79% 129,770,000 86.79% 148,331,590
Notes
* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
SHAREHOLDER CONCENTRATION ANALYSIS
Shareholders
Number of H
Shares allotted
Allotment as %
of International
Offering
Allotment as %
of total Offer
Shares
Number of
HS h a r e sh e l d
upon Listing
Number of
Shares held
upon Listing
%o ft o t a l
issued share
capital upon
Listing
Top 1 0 0.00% 0.00% 0 170,836,191 11.43%
Top 5 7,555,500 5.61% 5.05% 7,555,500 278,768,440 18.64%
Top 10 34,427,500 25.58% 23.02% 34,427,500 364,185,335 24.36%
Top 25 77,358,000 57.48% 51.74% 77,358,000 492,465,959 32.94%
Notes
* Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon
Listing.
BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the Prospectus, valid applications made by the public
will be conditionally allocated on the basis set out below:
NO. OF SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED OF THE
TOTAL NO. OF
SHARES APPLIED
FOR
POOL A
500 75,878 74 out of 75,878 to receive 500 Shares 0.10%
1,000 28,497 55 out of 28,497 to receive 500 Shares 0.10%
1,500 5,421 16 out of 5,421 to receive 500 Shares 0.10%
2,000 3,408 13 out of 3,408 to receive 500 Shares 0.10%
2,500 3,334 16 out of 3,334 to receive 500 Shares 0.10%
3,000 2,608 15 out of 2,608 to receive 500 Shares 0.10%
3,500 1,774 12 out of 1,774 to receive 500 Shares 0.10%
4,000 1,864 15 out of 1,864 to receive 500 Shares 0.10%
4,500 1,343 12 out of 1,343 to receive 500 Shares 0.10%
5,000 18,211 177 out of 18,211 to receive 500 Shares 0.10%
–1 6–


--- page 17 ---
NO. OF SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED OF THE
TOTAL NO. OF
SHARES APPLIED
FOR
6,000 2,263 26 out of 2,263 to receive 500 Shares 0.10%
7,000 1,454 20 out of 1,454 to receive 500 Shares 0.10%
8,000 1,320 21 out of 1,320 to receive 500 Shares 0.10%
9,000 1,285 22 out of 1,285 to receive 500 Shares 0.10%
10,000 9,725 189 out of 9,725 to receive 500 Shares 0.10%
20,000 5,201 202 out of 5,201 to receive 500 Shares 0.10%
30,000 3,558 207 out of 3,558 to receive 500 Shares 0.10%
40,000 2,952 229 out of 2,952 to receive 500 Shares 0.10%
50,000 3,352 325 out of 3,352 to receive 500 Shares 0.10%
60,000 2,190 255 out of 2,190 to receive 500 Shares 0.10%
70,000 1,806 246 out of 1,806 to receive 500 Shares 0.10%
80,000 1,389 216 out of 1,389 to receive 500 Shares 0.10%
90,000 1,267 221 out of 1,267 to receive 500 Shares 0.10%
100,000 6,531 1,268 out of 6,531 to receive 500 Shares 0.10%
200,000 4,223 1,640 out of 4,223 to receive 500 Shares 0.10%
300,000 2,754 1,605 out of 2,754 to receive 500 Shares 0.10%
400,000 1,909 1,483 out of 1,909 to receive 500 Shares 0.10%
500,000 6,562 6,373 out of 6,562 to receive 500 Shares 0.10%
202,079 Total number of Pool A successful applicants: 14,953
POOL B
1,000,000 4,151 3,960 out of 4,151 to receive 500 Shares 0.05%
1,500,000 940 500 Shares plus 404 out of 940 to receive additional 500 Shares 0.05%
2,000,000 585 500 Shares plus 530 out of 585 to receive additional 500 Shares 0.05%
2,500,000 403 1,000 Shares plus 155 out of 403 to receive additional 500
Shares
0.05%
3,000,000 226 1,000 Shares plus 195 out of 226 to receive additional 500
Shares
0.05%
3,500,000 135 1,500 Shares plus 46 out of 135 to receive additional 500
Shares
0.05%
4,000,000 122 1,500 Shares plus 100 out of 122 to receive additional 500
Shares
0.05%
4,500,000 82 2,000 Shares plus 24 out of 82 to receive additional 500 Shares 0.05%
5,000,000 89 2,000 Shares plus 69 out of 89 to receive additional 500 Shares 0.05%
5,500,000 60 2,500 Shares plus 15 out of 60 to receive additional 500 Shares 0.05%
6,000,000 95 2,500 Shares plus 69 out of 95 to receive additional 500 Shares 0.05%
7,476,000 613 3,500 Shares plus 81 out of 613 to receive additional 500
Shares
0.05%
7,501 Total number of Pool B successful applicants: 7,310
As of the date of this announcement, the relevant subscription monies previously deposited
in the designated nominee accounts have been r emitted back to the accounts of all HKSCC
participants. Investors should contact the ir relevant brokers for any inquiries.
–1 7–


--- page 18 ---
COMPLIANCE WITH LISTING RULES AND GUIDANCE
The Directors confirm that, except for the L isting 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 t o the placing, allotment and listing of the
Company’s H Shares.
The Directors confirm that, to the best of the ir knowledge, the consideration paid by the
placees or the public (as the case may be) di rectly or indirectly for each Offer Share
subscribed for or purchased by them was the sa me as the final Offer Price in additional to
any brokerage, AFRC transaction levy, SFC transaction levy and Stock Exchange
trading fee payable.
OTHERS/ADDITIONAL INFORMATION
Allocation of H Shares to existing minority S hareholders and/or their close associates
The Company has applied for, and the Stock Exchange has granted, a waiver from strict
compliance with Rule 10.04, and a consent u nder paragraph 1C(2) of Appendix F1 to the
Listing Rules to permit H Shares in the Inte r n a t i o n a lO f f e r i n gt ob ep l a c e dt oc e r t a i n
existing minority Shareholders and/or their c lose associates who (i) hold less than 5% of
the voting rights in the Company prior to th e completion of the Global Offering and (ii)
are not and will not become (upon the complet ion of the Global Offering) core connected
persons of the Company or the close asso ciates of any such core connected person
(together, the “ Permitted Existing Shareholders ”), on the following conditions:
(a) each Permitted Existing Shareholder to whom the Company may allocate the H
Shares under the International Offering, to gether with their close associates, holds
less than 5% of the voting rights in the Company prior to the completion of the
Global Offering;
(b) each Permitted Existing Shareholder is n ot, and will not be, a core connected person
of the Company or any close associat e of any such core connected person
immediately prior to or following the Global Offering;
(c) none of the Permitted Existing Share holders has the power to appoint any Directors
nor have any other special rights in the Company;
( d ) a l l o c a t i o nt ot h eP e r m i t t e dE x i s t i n gS h areholders and/or their close associates will
not affect the Company’s abil ity to satisfy the public float requirement under Rule
19A.13A(2) of the Listing Rules;
–1 8–


--- page 19 ---
(e) based on discussions between the Com pany and the Overall Coordinators and
confirmations required to be submitted t o the Stock Exchange by the Sole Sponsor
and the Overall Coordinators, the Company will confirm to the Stock Exchange
that:
a. in case of participation as Cornerstone Investors, no preferential treatment has
been, nor will be, given to the Permitted Existing Shareholders and/or their close
associates by virtue of their relati onship with the 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, and the
cornerstone investment agreements en tered into between the Permitted
Existing Shareholder and/or their close associates do not contain any material
terms which are more favourable to the Permitted Existing Shareholders and/or
their close associates than those in other cornerstone investment agreements; or
b. in case of participation as placees, no p referential treatment will be given to the
Permitted Existing Shareho lders and/or their close associates in the allocation
process by virtue of their relationship with the Company;
(f) in the case of participation as placees, t he 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 any of the Permitted Existing Shareholders
or their close associates by virtue of th eir relationship with the Company in any
allocation in the Inter national Offering; and
(g) the Sole Sponsor will confirm to the Stoc k Exchange that based on (a) its discussions
with the Company and the Overall Coordinators; and (b) the confirmations provided
to the Stock Exchange by the Company and th e Overall Coordinators (confirmations
(e) and (f) mentioned above), and to the best of their knowledge and belief, it has no
reason to believe that the Permitted Exi sting Shareholders and/or their close
associates received any preferential tre atment in the allocation process either as
cornerstone investors or as placees by virt ue of their relationship with the Company,
other than, in the case of participation as cornerstone investors, the preferential
treatment of assured entitlement under a cornerstone investment following the
principles set out in Chapter 4.15 of the G uide, and details of allocation to the
Permitted Existing Shareholders holding more than 1% of the issued share capital of
the Company and/or their close associates immediately prior to the completion of
the Global Offering will be disclosed in thi s prospectus (for cornerstone investors)
and allotment results announcem ent (for both cornerstone investors and placees) of
the Company.
Please refer to the section headed “Waivers — Allocation of H Shares to Existing
Minority Shareholders and their close associa tes” in the Prospectus for further details of
the waiver and consent.
Among the Cornerstone Investors, GF Fund, F ullgoal and Taikang Life are Permitted
Existing Shareholders. Such allocations of Offer Shares to the Permitted Existing
Shareholders are in compliance with all t he conditions under the waiver and consent
granted by the Stock Exchange.
–1 9–


--- page 20 ---
Allocation of Offer Shares to existing Share holders and Cornerstone Investors and/or their
close associates with a consent under parag raph 18 of Chapter 4.15 of the Guide for New
Listing Applicants
The Company has applied to, and the Stock Exchange has granted, a consent under
paragraph 18 of Chapter 4.15 of the Guide for New Listing Applicants to permit the
Company to allocate further Offer Shares in th e International Offering to certain existing
Shareholders and Cornerstone In vestors and/or their close associates as placees, subject
to the following conditions:
(a) the final offering size of the Global Off ering will be of a total value of at least HK$1
billion;
(b) the Offer Shares allocated to all existing Shareholder sa n dt h e i rc l o s ea s s o c i a t e s
(whether as cornerstone investors and/ or as placees) as permitted under the
Size-based Exemption (as defined in the G uide for New Listing Applicants) do not
exceed 30% of the total number of the H Shares offered under the Global Offering;
(c) each Director and chief executive of the Company confirms that no securities have
been allocated to them or their respective close associates under this exemption;
(d) the Company will comply with the public fl oat requirement under Rule 8.08(1) of the
Listing Rules; and
(e) details of the allocation to such existin g shareholders and Cornerstone Investors
under the Size-based Exemption will be disclosed in this announcement.
Such allocations of Offer Shares to the existi ng Shareholders and Cornerstone Investors
and/or their close associates are in complia nce with all the conditions under the consent
granted by the Stock Exchange. For details of the placing to connected clients, please see
“Allotees with waivers/consents obtained — Allotees with consent under paragraph 18 of
Chapter 4.15 of the Guide for New Listing Appli cants in relation to allocations of further
H Shares to existing shareholders and Co rnerstone Investors and/or their close
associates” in this announcement.
Placing to connected clients with prior c onsent under paragraph 1C(1) of the Placing
Guidelines
The Company has applied to the Stock Exchange for, and the Stock Exchange has
granted, a consent under paragraph 1(C)(1) of the Placing Guidelines to permit CICC FT
to participate in the Global Offering as a Corne rstone Investor. For details of the consent
granted, please refer to the section headed “ Allotment Results Details — International
Offering — Cornerstone Invest ors” in this announcement.
In addition, under the International Offer ing, certain Offer Shares were placed to
connected clients of their co nnected distributors pursuan t to the Placing Guidelines.
Please refer to the section headed “Allotmen t Results Details — International Offering —
Allotees with waivers/consents obtaine d” in this announcement for details. The
Company has applied to the Stock Exchange for, and the Stock Exchange has granted,
a consent under paragraph 1C(1) of the Plac ing Guidelines to permit the Company to
–2 0–


--- page 21 ---
allocate such Offer Shares in the International Offering to the connected clients. The
allocation of Offer Shares to such connected clients is in compliance with all the
conditions under the consent granted by the Stock Exchange.
For details of the placing to connected clients, please see “Allotees with waivers/consents
obtained — Allotees with consent under para graph 1C(1) of the Placing Guidelines and
Chapter 4.15 of the Guide in relation to al locations to connected clients” in this
announcement.
DISCLAIMERS
Hong Kong Exchanges and Clearing Li mited, The Stock Exchange of Hong Kong
Limited (the “ Stock Exchange ”) and Hong Kong Securities Clearing Company Limited
(“HKSCC ”) take no responsibility for the contents of this announcement, make no
representation as to its accuracy or complet eness and expressly d isclaim any liability
whatsoever for any loss howsoever arising f rom or in reliance upon the whole or any part
of the contents of this announcement.
This announcement is not for relea se, publication, distribution, directly or indirectly, in or
into the United States (including its terri tories 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 purchas e or subscribe for securities in the United
States. The securities mentioned herein hav e not been, and will not be, registered under
the United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”). The
s e c u r i t i e sm a yn o tb eo f f e r e do rs o l di nt h eU nited 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. The re will be no public offer of securities in
the United States.
The Offer Shares are being offered and so ld outside the United States in offshore
transactions in reliance on Regulat ion 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 subscrib e for securities. This announcement is not a
prospectus. Potential investors should rea d the Prospectus dated 12 June 2026 issued by
Shenzhen Senior Technology Material Co., Ltd . for detailed information about the Global
Offering described below be fore deciding whether or not to invest in the Shares thereby
being offered.
*Potential investors of the Offer Shares should note that the Sole Sponsor and the
Sponsor-OC (for itself and on behalf of the other Hong Kong Underwriters) shall be
entitled to terminate their obligations unde r 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 Agre ement — 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, 23 June 2026).
–2 1–


--- page 22 ---
PUBLIC FLOAT AND FREE FLOAT
Under Rule 19A.13A(2) of the Listing Rules , the portion of H Shares held by the public,
at the time of Listing, must (a) represent at least 10% of the Company’s total number of
issued Shares (excluding treasury shares); or (b) have an expected market value of not
less than HK$3,000,000,000. Immediately following the completion of the Global
Offering, the total number of the H Share s issued pursuant to the Global Offering
represents 10.13% of the total issued share c apital of our Company (excluding treasury
shares), which satisfy the minimum public fl oat requirement under Rule 19A.13A(2)(a) of
the Listing Rules.
Each of the Cornerstone Investors has agreed to a lock-up period of six months following
the Listing Date. Based on an Offer Pri ce of HK$8.98 per H Share, the Company will
satisfy the free float requirement unde r Rule 19A.13C(2) of the Listing Rules.
The Directors confirm that, immediatel y following the completion of the Global
Offering, (i) no placee will, individually, b e placed more than 10% of the enlarged issued
share capital of the Company immediately aft er the Global Offering; (ii) there will not be
any new substantial Shareholder immediately a fter the Global Offering; (iii) the three
largest public shareholders of the Company do not hold more than 50% of the shares in
public hands at the time of the Listing in com pliance 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 on ly become valid evidence of title at 8 : 00 a.m. on Tuesday,
23 June 2026 (Hong Kong time), provided that the Global Offering has become
unconditional and the right of termination des cribed in the section headed “Underwriting
— Underwriting Arrangements and Expen ses — 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 alloc ation details prior to the receipt of H Share
certificates or prior to the H Share certific ates becoming valid evidence of title do so
entirely at their own risk.
Assuming that the Global Offering become s unconditional at or before 8 : 00 a.m. on
Tuesday, 23 June 2026 (Hong Kong time), it is expected that dealings in the H Shares on
the Stock Exchange will commence at 9 : 0 0 a.m. on Tuesday, 23 June 2026 (Hong Kong
time). The H Shares will be traded in board lots of 500 H Shares each, and the stock code
of the H Shares will be 6067.
By order of the Board
Shenzhen Senior Technology Material Co., Ltd.
深圳市星源材質科技股份有限公司
Prof. Chen Xiufeng
Chairman and Executive Director
Hong Kong, 22 June 2026
–2 2–


--- page 23 ---
As at the date of this announcement, the Board comprises: Prof. Chen Xiufeng, Dr. Zhang
Xiaomin and Mr. Xu Liqiang as executive dir ectors, Mr. Zhu Bide as a non-executive
director and Mr. Tang Changjiang, Dr. Lin Zhiwei and Ms. Sun Zhenzhen as independent
non-executive directors.
–2 3–