New stock news | Chaozhou Three-Circle(Group)(06951) concludes its IPO, oversubscribed by over 100 billion Hong Kong dollars, with a subscription ratio of 155.35 times.

Chaozhou Three-Circle (Group) (06951) was listed from June 30, 2026 to July 6, 2026, and the listing has now ended. According to market statistics, the company obtained a margin loan of HKD 111.916 billion from securities firms, with a public offering amount of HKD 7.1579 billion, oversubscribed by 155.35 times. The company plans to globally issue 71.3643 million H shares, with 10% for public offering in Hong Kong, 90% for international offering, and an additional 15% for over-allotment option. The offering price per share will not exceed HKD 100.3. Each board lot consists of 100 H shares, and it is expected to be listed on HKEX on July 8, with China Galaxy International as the sole sponsor. The prospectus shows that Chaozhou Three-Circle (Group) focuses on the field of electronic ceramic materials and components. The company has built a product portfolio consisting of four main categories: electronic and ceramic materials, electronic components, communication devices, and equipment components, covering core application areas such as communication, AI and data centers, consumer electronics, automotive electronics, semiconductor manufacturing and packaging, new energy, and smart industrial control, including basic materials, key components, and high-end devices and components. In terms of finances, the company achieved revenues of approximately RMB 5.682 billion, RMB 7.266 billion, and RMB 8.869 billion in the fiscal years 2023, 2024, and 2025, respectively, with corresponding annual profits of approximately RMB 1.583 billion, RMB 2.190 billion, and RMB 2.617 billion. Key investors include Temasek, JPMAMAPL, CPE River, Ninety One Asia, Alibaba Investment, CITIC, GSAM, Manulife, Taikang Life, Huatai Fund, BOCI International, ICBC Wealth Management, IvyRock, Greater Bay Area Joint Home Investment, Metazone, Verition Fund, GMF, and IRMF among other well-known institutions. The cornerstone investors have agreed, under certain conditions and restrictions, to subscribe or cause their designated entities to subscribe to a total of approximately USD 455 million worth of the offering shares at the offering price (rounded down to the nearest whole board lot of 100 H shares)(cornerstone allocation). Based on the offering price of HKD 100.30 per share, the total number of offering shares that the cornerstone investors will subscribe to is expected to be 35.5 million H shares. Assuming the highest offering price of HKD 100.30 per share, the Group estimates that after deducting underwriting commissions and other estimated expenses related to the global offering, the Group will receive a net proceeds of approximately HKD 7.046 billion from the global offering (assuming no exercise of over-allotment option). The proceeds are intended to be used for the following purposes: (1) approximately 41.2% will be invested in overseas new construction and expansion projects as well as automation construction to increase production capacity, improve efficiency, and enhance supply resilience. (2) approximately 48.8% will be used for technological upgrades and material innovation to strengthen integrated technological barriers, support global business expansion, and promote domestic substitution in key areas. (3) approximately 10.0% will be used for working capital and other general corporate purposes, including daily operations and general corporate expenditures.