Tiannuo Maibo (Stock Code: 688806) announced that its shares are scheduled to commence trading on the Shanghai Stock Exchange's STAR Market on July 21st.

The company will issue approximately 69.0819 million new shares in its initial public offering, increasing the total number of shares post-IPO to roughly 461 million.

The offering price has been set at 14.46 yuan per share, which corresponds to a static price-to-research ratio of 19.35 times, based on diluted earnings projections for the year 2025.

As per the Shanghai Stock Exchange's self-regulatory guidelines for STAR Market companies, firms that are not profitable at the time of listing are included in the Science and Technology Innovation Growth Board tier from their first trading day.

Given that Tiannuo Maibo has not yet achieved profitability as of the announcement date, it will be incorporated into this specific growth tier upon its market debut.