Reconova Technologies Co., Ltd. (“RECONOVA”) has completed its global offering of 28.09 million H shares at HK$21.66 each, securing gross proceeds of HK$608.40 million and net proceeds of HK$529.10 million after listing expenses of HK$79.30 million. Based on the offer price, RECONOVA will debut on the Stock Exchange of Hong Kong on 8 July 2026 with an expected market capitalisation of HK$6.61 billion.

Public vs. institutional demand • Hong Kong Public Offering: 5.62 million shares (20% of the deal) were allocated after claw-back, driven by 169,551 valid applications and an oversubscription rate of 3,646.06 times. • International Offering: 22.47 million shares (80% of the deal) were 3.08 times subscribed, distributed to 105 placees.

Concentration metrics • The top five institutional placees took 21.05 million shares, or 74.93% of total offer shares; the single largest placee received 6.85 million shares (24.39% of the deal). • Post-listing, the top 25 H-shareholders will control 97.87% of the H-share capital, prompting the company to warn investors of potential price volatility due to high shareholder concentration.

Share capital structure and float • Total shares in issue at listing: 305.29 million. • Public float: 152.84 million H shares, representing 50.06% of total share capital—well above the 22.68% regulatory minimum. • Key persons and controlling shareholders, together holding 39.61% of the company, are subject to a 12-month lock-up expiring 7 July 2027.

Settlement and trading details Physical share certificates become valid at 8:00 a.m. on 8 July 2026, with trading commencing at 9:00 a.m. under the stock code 07656. Shares will trade in board lots of 200.

Regulatory compliance The company confirmed compliance with the Hong Kong Listing Rules, including the requirement that at least 50% of the offer shares were allocated to independent price-setting investors and that there will be more than 300 H-shareholders on listing.