Gate News message, April 14 — Huaqin Technology (03296) will launch its Hong Kong IPO from April 15 to April 20, 2026, offering 58.5482 million H-shares globally. The offering comprises 10% for Hong Kong public subscription and 90% for international placement, with a 15% over-allotment option. The offer price will not exceed HK$77.70 per share, with a minimum lot size of 100 shares. Trading on the Hong Kong Stock Exchange is expected to commence at 9:00 a.m. on April 23, 2026.
Cornerstone investors including JPMAMAPL, UBS AM Singapore, Shanghai Gaoyi, CICC FT, Perseverance Asset Management, and others have agreed to subscribe for approximately $289.99 million worth of shares at the offer price. Assuming the offer price of HK$77.70 per share and no exercise of adjustment or over-allotment rights, the company expects to receive net proceeds of approximately HK$4.463 billion. Funds will be allocated as follows: 40% for R&D, 35% for manufacturing expansion, 15% for strategic investments, and 10% for working capital.
Huaqin Technology is a platform company specializing in intelligent products for over 20 years, integrating AI, IoT, big data, and communication technologies. The company achieved revenue of RMB 109.9 billion in 2024, surpassing RMB 100 billion for the first time with year-over-year growth exceeding 28%. In 2025, revenue grew 56.0% year-over-year, with net profit reaching RMB 4.132 billion, up from RMB 2.916 billion in 2024.
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