New stock news | Shenzhen Zhaowei Machinery & Electronics (02692) completed its IPO with a popular public offering subscription, oversubscribed by 1186 times.

Shenzhen Zhaowei Machinery & Electronics (02692) conducted its IPO from February 27th to March 4th, and the subscription has ended. It is expected to start trading on March 9th. Market statistics show that as of Wednesday afternoon (March 4th), the public offering of Shenzhen Zhaowei Machinery & Electronics was very popular, with a subscription of HK$233.82 billion, which is equivalent to an oversubscription of 1186 times. According to the issuance plan, Shenzhen Zhaowei Machinery & Electronics plans to offer 26.7483 million H shares, with 10% publicly offered, raising up to HK$1.971 billion. The IPO price for Shenzhen Zhaowei Machinery & Electronics is HK$73.68 per share, with a minimum trading unit of 100 shares and an entry fee of HK$7442.31. In terms of the use of funds raised, approximately 35% will be used for global technology research and product expansion; approximately 30% will be used to expand production capacity and improve efficiency globally; approximately 15% will be used for selective global strategic cooperation, investment, and mergers and acquisitions; approximately 10% will be used to expand global service and sales networks and increase global marketing efforts; and approximately 10% will be used for operational funds and general corporate purposes. Shenzhen Zhaowei Machinery & Electronics has a strong lineup of investors, including 21 institutional investors such as Hillhouse Capital, Gao Yi Asset Management, Future Asset Management from South Korea, Jump Trading from the United States, GF Fund Hong Kong, Guangdong Topstar Technology (300607.SZ), China Minsheng International, Rui Rubber Capital, etc., with a total subscription of RMB 579 million in shares. According to the prospectus, based on a Frost & Sullivan report, by revenue in 2024, Shenzhen Zhaowei Machinery & Electronics is the largest provider of integrated miniature transmission and drive systems products in China and the fourth largest globally, with market shares of 3.9% and 1.4%, respectively. In terms of financials, for the fiscal years ending in 2022, 2023, 2024, and the nine months ending in September 30, 2024 and 2025, Shenzhen Zhaowei Machinery & Electronics had revenues of approximately RMB 1.152 billion, RMB 1.206 billion, RMB 1.525 billion, RMB 1.057 billion, and RMB 1.255 billion, respectively. During the same periods, profits were approximately RMB 150 million, RMB 180 million, RMB 225 million, RMB 159 million, and RMB 182 million, respectively.