Haiwei Group (09609) will be conducting a public offering from November 20th to November 25th, with plans to globally sell 30.8314 million H shares.

Haiwei Group (09609) will be listed from November 20th to November 25th, 2025. The company plans to globally issue 30.8314 million H-shares, with 10% being sold in Hong Kong and 90% internationally. The offering price per share is HK$14.28, and H-shares will be traded in lots of 200 shares. It is expected that H-shares will start trading on the Hong Kong Stock Exchange on November 28th, 2025, at 9:00 am. According to data from Zhoushi Consultancy, based on the sales volume of capacitor base films in 2024, we are the second largest capacitor film manufacturer in China. Our capacitor film products mainly include capacitor base films and metallized films, which are essential components of film capacitors known for their excellent voltage resistance, high frequency stability, and long lifespan. Film capacitors are widely used in various applications, including new energy vehicles, new energy power systems, industrial equipment, and household appliances. In 2024, based on revenue from capacitor base films, our market share in China was 10.9%. In 2022 and 2023, our revenue was RMB 327 million and RMB 330 million respectively. Our revenue increased by 28.0% from RMB 330 million in 2023 to RMB 422 million in 2024. Our revenue decreased by 3.2% from RMB 162 million for the five months ending May 31, 2024, to RMB 157 million for the five months ending May 31, 2025. The company has entered into a cornerstone investment agreement with Hui Xinglihai, a cornerstone investor who has agreed to subscribe to a certain number of shares at the offering price for a total amount of approximately HK$218 million. The company believes that the cornerstone placement will enhance its image and demonstrate the investor's confidence in our business and prospects. The company was introduced to this cornerstone investor by one of the underwriters. Based on an offering price of HK$14.28 per share, and assuming no exercise of the overallotment option and greenshoe option, we estimate net proceeds of approximately HK$388.9 million from the global offering. Approximately 82.0% is expected to be used to expand our production capacity, 5.0% for enhancing our R&D capabilities, 3.0% for sales and marketing activities, and approximately 10.0% for operating capital and general corporate purposes.