Shenzhen Woer Heat-shrinkable Material (09981) will be open for subscription from February 5th to February 10th, and is expected to be listed on February 13th.

Shenzhen Woer Heat-shrinkable Material (09981) will be listed from February 5, 2026 to February 10, 2026. The company plans to globally issue approximately 140 million H shares, with 10% for sale in Hong Kong (subject to redistribution) and 90% for international sale (subject to redistribution). The offering price per share is HK$20.09. Each lot consists of 200 shares, and the shares are expected to start trading on the Stock Exchange on February 13, 2026. The company's main businesses include: (i) electronic communication business, involving (a) communication cable products (including high-speed copper cables, consumer and industrial line cables); and (b) the development, manufacturing, and sales of electronic materials; (ii) power transmission business, involving (a) new energy vehicle power transmission products (including new energy vehicle charging products and power battery safety protection products); and (b) the development, manufacturing, and sales of cable accessories; and (iii) other businesses, mainly including wind power generation business. In particular, during the reporting period, the company's sales of heat-shrinkable materials accounted for the vast majority of electronic materials revenue. According to Frost & Sullivan data, based on global revenue in 2024, the company ranked fifth among communication cable manufacturers with a global market share of 12.7%. The company ranked first in the global heat-shrinkable materials industry, with a global market share of 20.6% based on 2024 global revenue. Based on 2024 global revenue, the company ranked ninth in the global new energy vehicle power transmission products industry, with a global market share of 1.9%. Based on 2024 global revenue, the company ranked seventh in the global cable accessories industry, with a global market share of 2.5%. The company believes that these achievements are the result of its continuous investment in product innovation. As of September 30, 2025, the company held 547 invention patents. With the company's widely recognized product quality and leading market position, the company achieved strong growth during the reporting period. According to financial statements prepared in accordance with International Financial Reporting Standards, the company's revenue increased from RMB 5.337 billion in 2022 to RMB 5.719 billion in 2023, further increasing to RMB 6.92 billion in 2024; the company's net profit increased from RMB 660 million in 2022 to RMB 758 million in 2023, further increasing to RMB 921 million in 2024. For the nine months ended September 30, 2025, the company's revenue and net profit were RMB 6.077 billion and RMB 883 million respectively. The company has entered into cornerstone investment agreements with HHLRA, Shanghai Jinglin and Huatai Capital Investment (related to Jinglin over-the-counter swaps), Jump Trading, Huizhou Huilian, Jiangxi Copper, and Guotai Junan Securities Investment (Hong Kong) Limited (related to Jiangxi Copper over-the-counter swaps), Shenzhen Shanghai New World, Gaoshi, Frost, SCV Alpha, Yield Royal, Guohui Hong Kong, Pulin Guotai Junan Securities Investment (Hong Kong) Limited (related to Pulin over-the-counter swaps), Shenzhen Capchem Technology Hong Kong, Yiya Investment Management, Factorial, Qianhai Chenxing to subscribe to or cause their designated entities to subscribe for approximately USD 1.24 billion (or HKD 9.69 billion, calculated at an exchange rate of 1 USD to 7.79735 HKD) of the sale shares. Assuming an offering price of HK$20.09 per share (the highest amount within the offering price range as stated in the prospectus), after deducting underwriting fees and commissions and estimated expenses payable by the company for the global offering, the company estimates that the net proceeds from the global offering will be approximately HK$2.734 billion. According to the company's strategy, the company plans to use the proceeds for the following purposes: 45% will be used to diversify the product portfolio and upgrade products to expand business scope and increase market share and penetration rate, thereby consolidating the company's leading position in the electronic communication and power transmission industries. 27% will be used to expand the global business map, enhance production capacity in China and Malaysia to meet the increasing demand from rapidly growing overseas markets. 18% will be used for potential strategic investments and/or acquisitions. Specifically, the company plans to seek suitable strategic investments and/or acquisitions to expand research and development capabilities and expertise, strengthen its position in the value chain through resource integration, ensure supply chain stability, and better meet the needs of downstream application scenarios. 10% will be used for working capital and general corporate purposes.