Drip Technology (01384) will be open for public subscription from October 20 to October 23, with plans to globally issue 26.632 million H shares. It is expected to be listed on October 28.

Di Pu Technology (01384) will be listed from October 20, 2025 to October 23, 2025. The company plans to globally issue 26.632 million H shares, with 5% for public sale in Hong Kong and 95% for international sale. The offer price is HK$26.66 per share. Each lot consists of 200 H shares. H shares are expected to begin trading on the Stock Exchange at 9:00 am on October 28, 2025 (Tuesday). The group focuses on providing enterprise-level large-scale artificial intelligence application solutions for businesses, helping them efficiently integrate data, make decisions, and operate on a large scale. With the group's FastData Foil data fusion platform and Deepexi enterprise-level large-scale model platform, the deployment and implementation of Agentic artificial intelligence applications in enterprises are achieved. The group offers the FastData enterprise data intelligence solution (or FastData solution) and FastAGI enterprise artificial intelligence solution (or FastAGI solution) to enterprise customers. Based on revenue in 2024, the group ranks fifth in the Chinese enterprise-level large-scale artificial intelligence application solution market, with a market share of 4.2%. The group's solutions help customers in various industries optimize decision-making, improve operational efficiency, and increase productivity. The group has successfully commercialized in multiple vertical industries, including consumer retail, manufacturing, healthcare, and transportation. As of June 30, 2025, the group has served a total of 283 enterprise users across industries, with repeat customers accounting for 94, representing 33.2% of the groups customer base, demonstrating a high level of customer stickiness and satisfaction. After deducting underwriting commissions and other estimated expenses for the global offering, and assuming an offering price of HK$26.66 per share, the group estimates that it will receive a net amount of approximately HK$610 million from the global offering. The group plans to use the net proceeds from the global offering as follows: (1) Approximately 40% of the net proceeds will be used to enhance research and development capabilities over the next five years. This includes 10.0% for strengthening the basic functions of the group's FastData Foil data fusion platform, 10.0% for enhancing the basic functions of the group's Deepexi enterprise-level large-scale model platform, 10.0% for research and development of the group's FastData enterprise data intelligence solution and FastAGI enterprise artificial intelligence solution, 2.5% for joint research and development with renowned domestic and foreign university laboratories, and 7.5% for establishing the group's computational power platform. (2) Approximately 30% of the net proceeds will be used to expand the group's sales network and customer base in China to enhance commercial capabilities. This includes 10% to increase the penetration rate of the group's solutions in cities where the group is currently operating, 10% to expand business coverage to Shenzhen New Land Tool Planning & Architectural Design, establishing branches or subsidiary companies, 5% to establish a senior expert team to provide professional expansion support for the consumer retail, manufacturing, healthcare, and transportation industries, and 5% to explore different industries. (3) Approximately 15% of the net proceeds will be used for overseas business expansion. This includes 10% for establishing approximately two new overseas branches and offices, and 5% for overseas marketing and promotional activities. (4) Approximately 5% of the net proceeds will be used for potential investment and acquisition opportunities to further enhance the group's core technological capabilities and consolidate its technical strength. (5) Approximately 10% of the net proceeds will be used for working capital and general corporate purposes. The group's revenue has grown rapidly in the historical period. The group's revenue increased from RMB 101 million in 2022 to RMB 129 million in 2023, a 28.4% increase, and further increased to RMB 243 million in 2024, an 88.3% increase. The CAGR from 2022 to 2024 is 55.5%. The group's revenue increased from RMB 60.5 million in the six months ended June 30, 2024 by 118.4% to RMB 132 million for the six months ended June 30, 2025. The continued growth in revenue demonstrates the effective implementation of the group's strategic initiatives, and the group's products and services continue to meet the needs of enterprise customers.