New stock news | Master Tong (00664) has finished the initial public offering with a oversubscription amount of 2.3 billion Hong Kong dollars, oversubscribed 44.6 times.

Master Copper (00664) launched its IPO from March 23 to March 26, 2026, and the latest IPO has already ended. According to market reports, Master Copper has secured a margin loan of HK$2.3 billion from brokers, with a total IPO fundraising amount of HK$50.37 million, oversubscribed by 44.6 times. Master Copper plans to globally issue 7.4068 million H shares, with 10% allocated for sale in Hong Kong, 90% for international sale, and an additional 15% for oversubscription rights. The sale price per share ranges from HK$60 to HK$68, with each lot consisting of 100 shares and an entrance fee of HK$6,868.6. The maximum amount raised is HK$500 million. The company is expected to start trading on March 31 (Tuesday), with CMB International as its exclusive sponsor. In this issuance, Master Copper has introduced CICC International as cornerstone investors, with an investment of HK$30 million. Based on the highest sale price of HK$68, the cornerstone investors will subscribe to a total of 441,100 shares. The prospectus shows that since its establishment in 2013, Master Copper has been focusing on integrating traditional craftsmanship with modern designs and usage scenarios, developing copper cultural and creative products. According to a Frost & Sullivan report, as of December 31, 2024, the company ranked first in the Chinese copper cultural and creative products market in terms of total revenue, with a market share of 35.0%. Master Copper's products are divided into four categories based on materials and craftsmanship: copper cultural and creative products, plastic figurines and toys, silver cultural and creative products, and gold cultural and creative products. Each product category is carefully designed, combining traditional craftsmanship with modern technology to cater to different consumer preferences and market trends. The company's product portfolio is mainly focused on the metal cultural and creative products market, with a focus on copper cultural and creative products. The copper cultural and creative market is a specialized sub-sector within the wider metal cultural and creative products market. Master Copper has established a comprehensive IP matrix, including self-developed and licensed IP cooperation, supported by a strong system of design patents, copyrights, and proprietary technology. Public data shows that the company has also obtained licensing for well-known IPs such as "The Avengers," "Nezha," and the National Museum. As of the end of September 2025, Master Copper has launched 327 SKUs based on self-developed IP and 77 SKUs based on licensed IP. Financially, the company achieved revenues of approximately RMB 5.03 billion, RMB 5.06 billion, RMB 5.71 billion, and RMB 4.48 billion in the fiscal years of 2022, 2023, 2024, and the nine months ending September 30, 2025, respectively. During the same period, the gross profits were approximately RMB 1.62 billion, RMB 1.64 billion, RMB 2.02 billion, and RMB 1.54 billion, respectively. Master Copper plans to allocate approximately 38.0% of the net proceeds from the global offering to enhance the company's product development and design capabilities, around 24.0% for improving internal production capacity and strengthening demand forecasting and manufacturing output consistency, around 24.0% for expanding and strengthening the company's retail and marketing infrastructure, around 4.0% for enhancing the company's digital and information infrastructure, and around 10.0% to be retained for general operating capital and operational flexibility.