CIG Shanghai (06166) is issuing shares from October 20 to October 23, planning to globally sell 67,010,500 H shares, with cornerstone investors subscribing for $290 million.

Cig Shanghai (06166) will conduct a public offering from October 20, 2025 to October 23, 2025. The company plans to globally issue 67.01 million H shares, with 10% sold publicly in Hong Kong and 90% internationally. There is also a 15% over-allotment option. The offer price will not exceed HK$68.88 per share. Each lot will consist of 50 H shares, and trading of the H shares is expected to begin on the Hong Kong Stock Exchange on October 28, 2025, at 9:00 am. The group is primarily engaged in the design, development, and sale of connectivity and data transmission equipment. During the previous reporting period, the group generated revenue primarily from the sale of (i) broadband, (ii) wireless, and (iii) optical module technology products. According to Frost & Sullivan data, the group is one of the few companies globally that offer these three types of technology products. In 2024, based on sales revenue, the group ranked fifth in the global Optical and Wireless Connectivity Devices (OWCD) industry, with a market share of 4.1%. During the previous reporting period, the group established partnerships with several global leading partners and maintained stable relationships with them for over ten years. Additionally, as of June 30, 2025, the group's customer base includes AI data centers, telecommunications operators, ICT equipment providers, MSOs, and IoT solution providers. The majority of the group's operations and revenue come from international markets, including the US, Europe, and the Asia Pacific region. In 2022, 2023, 2024, and in the six months ending on June 30, 2025, revenue from overseas markets accounted for 82.9%, 89.3%, 92.6%, and 94.0% of the group's total revenue, respectively. The group has entered into cornerstone investment agreements with various investors, who have agreed to subscribe to a total of 32.76 million shares of H shares through cornerstone allocations, representing a total amount of US$290 million. Based on the highest offering price of HK$68.88 per share and assuming the over-allotment option is not exercised, the group estimates to net approximately HK$4.48 billion from the global offering. The group plans to use the net proceeds for upgrading facilities, increasing research and development capabilities, enhancing sales and marketing activities, strategic overseas investments, and general corporate purposes. As for the group's financial performance, revenue generated during the previous reporting periods were RMB 3.784 billion, RMB 3.085 billion, RMB 3.65 billion, and RMB 2.034 billion, with gross profits of RMB 689 million, RMB 664 million, RMB 762 million, and RMB 445 million, respectively, and net profits of RMB 171 million, RMB 95 million, RMB 167 million, and RMB 118 million, respectively.