PHANCY(06682) intends to apply for initial public offering on A-share and list on the Shenzhen Stock Exchange ChiNext Board for the first time.

PHANCY (06682) announced that the company plans to apply for the first public offering of RMB ordinary shares (A shares) and list on the ChiNext board of the Shenzhen Stock Exchange. The type of stock to be issued in this offering is RMB ordinary shares (A shares) with a face value of RMB 1.00 per share, and the listing location will be on the ChiNext board of the Shenzhen Stock Exchange. The total number of RMB ordinary shares to be publicly issued in this offering shall be no less than 62.0315 million shares and no more than approximately 186 million shares (excluding shares to be issued due to the exercise of the over-allotment option), representing not less than 10% and not more than 25% of the total issued share capital (including treasury shares) after the offering. The issuance will consist entirely of new shares, and existing shareholders will not be selling any of their shares publicly. The company and the sponsor institution (lead underwriter) may utilize the over-allotment option, with the number of A shares issued through the exercise of the over-allotment option not to exceed 15% of the proposed A share issuance quantity (before exercise of the over-allotment option). The funds raised are intended to be used for the research and development and industrialization of full-stack intelligent solutions and services based on an enterprise-level AI platform, domestic AI technology research projects, and for supplementing working capital. The announcement states that the company is proceeding with the A share offering and listing in order to leverage the synergies between the capital markets in Hong Kong and mainland China, establish a dual-capital operation platform, fully utilize the advantages of ample liquidity, strong recognition of local industries, and diverse financing channels in the A share market, and combine these with the characteristics of Hong Kong stocks to access international markets and link global resources, thereby achieving dual empowerment of capital value and business development. The company's listing on the A share market will, on one hand, raise sufficient funds to focus on infrastructure construction for computing power, core AI technology research and development, market channel expansion, and industrial ecosystem integration, continuously strengthen technological barriers and computing power supply capabilities to support the scaling of the company's core businesses such as AI platforms and APIs. On the other hand, it will help further enhance brand influence and customer trust, deepen market presence in domestic industries, optimize corporate governance structure, and information disclosure levels. Leveraging the dual-listing pattern in Hong Kong and mainland China, the company will effectively expand financing capabilities, enhance overall competitiveness, seize opportunities in the domestic AI industry development, consolidate its leading position in the industry, and achieve long-term stable development.