New Stock News | Hongyeji Hong Kong Stock IPO Prospectus Invalidated

Shenzhen Hongye Geotechnical Technology Co., Ltd. (referred to as Hongye Geotechnical) submitted its Hong Kong stock offering prospectus on February 15, 2026, which will expire six months later on August 15, 2026. At the time of submission, Guangyin International served as its exclusive sponsor. According to the prospectus, the company provides geotechnical engineering services in South China and has over 23 years of experience in the industry since 2002. It primarily focuses on geotechnical engineering services, including (i) pile foundation engineering; (ii) excavation engineering; and (iii) a combination of pile foundations and excavation support engineering. The company also offers other services, including new materials for geotechnical engineering and air-powered rock-breaking technology, as well as other construction projects. Its clients mainly include state-owned enterprises, listed companies, and private enterprises in China, while its suppliers primarily provide direct materials, subcontracted labor, and earth transportation services within China. According to the Frost & Sullivan report, the company is (i) the largest non-state-owned geotechnical engineering firm in South China by revenue in 2024; (ii) ranked first among non-state-owned enterprises participating in large-scale geotechnical engineering projects in South China, with a market share of 1.9%; and (iii) ranked second among the top 10 foundation construction companies in China (non-state-owned) in 2024.