Weiming Technology (06082) plans to globally issue 248 million shares, introducing cornerstone investors such as Qiming Venture Partners and Southern Fund.

Weijing Technology (06082) will be listed from December 22, 2025 to December 29, 2025, planning to globally issue 248 million H shares, with approximately 5% of the shares offered publicly in Hong Kong and approximately 95% offered internationally, with an additional 15% over-allotment option. The offering price is set at HK$17.00-19.60 per share, with 200 shares per lot. It is expected that H shares will begin trading on the Hong Kong Stock Exchange on January 2, 2026. The company specializes in developing General Purpose Graphics Processing Unit (GPGPU) chips and intelligent computing solutions based on GPGPU, providing the necessary computational power for Artificial Intelligence (AI). By integrating its proprietary GPGPU-based hardware with the proprietary BIRENSUPA software platform, the company's solutions support AI model training and inference for a wide range of applications from the cloud to the edge. In particular, the company's GPGPU-based solutions demonstrate strong performance and efficiency in pre-training, fine-tuning, and inference of Large Language Models (LLMs), possessing high technological barriers and a key advantage in domestic competition. The company's technology serves as essential infrastructure to support AI development and drive progress in Artificial General Intelligence (AGI), meeting the growing computational demands in various industries to enhance productivity, innovation, and transformation. With the rapid development of AI, especially in LLMs and generative AI, many enterprises are increasingly in need of computational solutions to meet the rising demands in computing power and AI applications. In response to this demand, the company has independently developed a specialized technology product - an intelligent computing integrated solution, consisting of two main components: (i) a hardware system based on the company's GPGPU architecture and chip, and (ii) the BIRENSUPA computing software platform. To better fulfill the urgent demands of customers for high-performance computing and intelligent applications, the company's specialized technology product can be delivered in the form of a large-scale intelligent computing cluster. This cluster consists of a large number of interconnected GPGPU units that, under the scheduling of the company's BIRENSUPA software platform, collaboratively execute parallel processing tasks. Beginning in 2023, the company's intelligent computing solutions have begun generating revenue. For the fiscal year ending December 31, 2024, and the six months ending June 30, 2025, the company's specialized technology products had 14 and 12 customers, contributing revenues of RMB 336.8 million and RMB 58.9 million respectively. Assuming an offering price of HK$18.30 per share and that the overallotment option and the over-allotment option are not exercised, the net proceeds from the global offering are expected to be approximately HK$43.506 billion. Approximately 85.0% of the proceeds will be used for future research and development of the company's intelligent computing solutions. Approximately 5.0% will be used for commercialization of the company's intelligent computing solutions. Approximately 10.0% will be used for operational funding and general corporate purposes. Additionally, the company has signed cornerstone investment agreements with cornerstone investors, under which the cornerstone investors have agreed to subscribe, or cause designated entities to subscribe, for a total of US$372.5 million worth of shares at the offering price, subject to certain conditions and limitations. The cornerstone investors include: 3W Fund Management Limited; Qiming Venture Partners; Aspex Master Fund; WT Asset Management Limited; Hao Great China Focus Fund; Ping An Life Insurance Company of China Ltd.; Huadeng Technology Peak Fortitude Ventures Ltd; Lion Global Investors Limited; CICC Financial Trading Limited; MY Asian Opportunities Master Fund, L.P.; Eastspring Investments (Singapore) Limited; UBS Asset Management (Singapore) Ltd.; Taikang Life Insurance Co., Ltd.; Aspirational China Growth GP Limited; Charoen Pokphand Robot Limited; Digital China Group (Hong Kong) Limited; CMB International Capital Limited; Southern Fund Management Co., Ltd.; Fullgoal Asset Management (HK) Limited; Yidukaiyuan Co., Ltd.; Enhanced Investment Products Limited; Tessy Holding Limited; and New Opportunities SPC.