Hong Kong Stock IPO Weekly Report

This week, over 40 companies, including JD Intelligent Manufacturing and Sunwoda Electronic, submitted their IPO applications. Meanwhile, Muyuan Foods, Han’s Laser, and Lanqi Technology will close their subscription next week.

IPO Submissions

From January 26 to February 1, a total of 45 companies submitted listing applications to the Hong Kong Stock Exchange. Additionally, 3 companies passed the hearing, 7 companies are in the process of IPOs, and 1 new stock has been listed.

Notable Submissions

• Guangdong Micro Battery New Energy Co., Ltd. submitted its application on January 26. The company is a leading provider of high-performance micro lithium-ion battery solutions, ranking fourth globally in consumer-grade smart terminal battery shipments, with revenue projections of approximately 3.51 billion, 5.33 billion, and 4.34 billion RMB for the fiscal years 2023, 2024, and 2025 respectively.
• Guangzhou Yanqu Information Technology Co., Ltd. also applied on January 26. The company operates an online rental service platform called “Everyone Rents” and is projected to achieve revenues of 2.94 billion, 4.21 billion, and 3.56 billion RMB in the same fiscal years.
• Jucheng Co., Ltd., a leading non-volatile memory (NVM) chip designer, submitted its application on January 26. The company is expected to capture over 40% of the global DDR5 SPD chip market by 2024.
• Ningbo Sunyu Intelligent Technology Co., Ltd. submitted its application on January 26. The company is a leader in vehicle optical technology, with revenue expectations of 52.62 billion, 59.89 billion, and 44.56 billion RMB for the upcoming years.
• Shenzhen Hujia Technology Group Co., Ltd. submitted its application on January 26, aiming to become a leading brand in the enhanced skincare sector in China, with projected revenue of approximately 19.48 billion, 20.83 billion, and 15.14 billion RMB.
• Shenzhen Yue10 Intelligent Co., Ltd. submitted its application on January 26. The company is a top player in the digital cold chain agricultural products market, with forecasts of 12.54 billion, 29.81 billion, and 39.94 billion RMB for the next three fiscal years.
• Xingyu Co. Ltd. submitted its application on January 26, aiming to be a leading automotive lighting provider in China, with projected revenues of 102.48 billion, 132.53 billion, and 107.1 billion RMB.
• Top Bid (Group) Holdings Limited applied on January 26. The company is known for its intelligent transportation solutions and is expected to generate revenues of 1.92 billion, 1.26 billion, and 2.71 billion RMB.
• JD Intelligent Manufacturing Co., Ltd. formally submitted its application on January 26. The company is positioned as a leading modern infrastructure development and management platform, with revenues of 28.68 billion and 34.17 billion RMB for the next two years.

Upcoming IPOs

Next week, several companies will close their subscriptions:

• Dongpeng Beverage: Subscription from January 26 to January 29, with a planned global offering of 40.89 million shares.
• Guo En Technology: Subscription from January 27 to January 30, proposing to offer 30 million shares.
• Zhuozheng Medical: Subscription from January 29 to February 3, with an offering of 4.75 million shares.
• Muyuan Foods: Subscription from January 29 to February 3, aiming to issue 274 million shares.
• Han’s Laser: Subscription from January 29 to February 3, offering 50.45 million shares.
• Aixin Yuanzhi: Subscription from January 30 to February 5, with a planned offering of 105 million shares.
• Lanqi Technology: Subscription from January 30 to February 4, proposing to offer approximately 65.89 million shares.
• Lexin Outdoor: Subscription from January 31 to February 5, with a planned offering of 28.21 million shares.

Recent Listings

On January 28, the snack retailer Mingming Huo debuted on the Hong Kong Stock Exchange, experiencing a remarkable first-day increase of 69.06% and continuing to rise over the following days.