Suiyuan Technology has announced that its shares will begin trading on the Shanghai Stock Exchange's STAR Market on September 11, 2026, with an initial public offering price set at 142.18 yuan per share.

The company confirmed the listing date in an announcement on September 9, revealing that the IPO involves the issuance of 43.0352 million shares, with projected total proceeds of approximately 6.116 billion yuan. The online subscription demand was exceptionally strong, with valid subscription multiples reaching 6,109.34 times, resulting in a final allocation rate of just 0.0246%. A total of 3.443 million shares were transferred from the offline to the online channel to meet retail demand.

Looking ahead, the company forecasts revenue for the first nine months of 2026 to range between 2.3 billion and 3 billion yuan, representing a year-on-year surge of 325.78% to 455.36%. The strategic placement attracted participation from a diverse group of investors, including the National Social Security Fund, the Basic Pension Insurance Fund, as well as industry players such as Tongfu Microelectronics and ZTE Corporation.

Online subscription demand remained robust through to the final allocation stage. Following the completion of the share transfer, 10.3285 million shares were allocated to online investors, accounting for 30% of the shares available after deducting the strategic placement. The remaining 24.0996 million shares, or 70%, were allocated to offline investors.

Of the offline allocated shares, 16.5278 million are subject to lock-up periods. Specifically, 16.2983 million shares carry a nine-month lock-up, while 229,500 shares are locked for six months. The remaining 7.5718 million shares have no lock-up restrictions.

Retail investors ultimately abandoned only 16,874 shares, valued at approximately 2.3991 million yuan, all of which were absorbed by CITIC Securities as the underwriter. Notably, offline institutional investors recorded zero abandoned subscriptions, with the total underwriting amount representing just 0.04% of the overall issuance, indicating a high level of subscription completion.

The strategic placement roster featured a comprehensive mix of long-term capital and industrial investors. A total of 8.607 million shares, representing 20% of the total issuance, were allocated to strategic investors, generating subscription proceeds of approximately 1.224 billion yuan.

Among the strategic investors, the company's employee stock ownership plan received 2.3681 million shares with a 36-month lock-up period. CITIC Securities Investment secured 860,700 shares with a 24-month lock-up. On the industrial capital front, participants including Shanghai Qishan Investment, Tongfu Microelectronics, and ZTE Corporation were allocated shares, with most subject to a 12-month lock-up period.

Long-term institutional capital also featured prominently, with portfolios under the National Social Security Fund and the Basic Pension Insurance Fund collectively receiving approximately 492,300 shares. The strategic placement drew broad participation spanning employee ownership programs, industrial capital, and long-term institutional investors, reflecting widespread confidence in the company's prospects.

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