New stock news | Zijing shares (02632) end of the offering, the total subscription amount reached 1.1 billion Hong Kong dollars, oversubscribed 13.1 times.

HUD solution provider Zejing Co., Ltd. (02632) conducted its IPO from March 16, 2026 to March 19, 2026, and the latest IPO has ended. According to market news, Zejing Co., Ltd. has secured a loan of HKD 1.1 billion from securities firms for oversubscription, with a public offering fund of HKD 77.89 million, oversubscribed by 13.1 times. Zejing Co., Ltd. plans to globally issue 16.2265 million H shares, with 10% of the shares to be sold in Hong Kong and 90% in the international market. The offering price per share is between HKD 42 and HKD 48, with 50 shares per lot, an entry fee of HKD 2,424.2 for one lot, and a maximum fundraising of HKD 780 million. The company is expected to commence trading on March 24 (Tuesday), with HAITONG INT'L and CITIC Securities as its joint sponsors. In this offering, Zejing Co., Ltd. introduced two cornerstone investors, YK One under Beijing Shunyi SASAC and two high-end investors controlled by the Beijing municipal government and the SASAC. The prospectus shows that Zejing Co., Ltd. focuses on HUD solutions. During the previous performance period, the company mainly provided windshield HUD solutions CyberLens and augmented reality HUD solutions CyberVision, supplemented by testing solutions and other innovative visual technology solutions. The company collaborates in-depth with automotive manufacturers in the solution definition phase to bring new models with more in-depth human-vehicle interaction and intelligent driving experience. Zejing Co., Ltd. has adopted a holistic approach to build an integrated self-developed technological architecture, integrating optical design, mechanical engineering, electronic design, software algorithms, and human-machine interface (HMI) in a seamless manner, and rigorously tested and verified, covering the core capabilities of HUD solutions, with unique capabilities to create sustainable market differentiation. In terms of finances, the company's revenue for the fiscal years 2022, 2023, 2024, and the first nine months ended September 30, 2025 were approximately RMB 2.14 billion, RMB 5.49 billion, RMB 5.78 billion, and RMB 4.80 billion respectively; during the same period, the company recorded losses of approximately RMB 2.56 billion, RMB 1.75 billion, RMB 1.38 billion, and RMB 3.44 billion respectively. Zejing Co., Ltd. plans to use approximately 46.7% of the estimated net proceeds from the global offering for production line expansion and automation, intelligence upgrades; approximately 32.4% for enhancing the group's R&D and technical capabilities; approximately 10.9% for potential strategic collaborations with industry value chain participants focusing on optical imaging, near-eye displays, wearable products, and other related areas; approximately 10.0% for operating funds and general corporate purposes.