Shanghai Sunmi Technology Co., Ltd. (Sunmi Technology) released final allotment results for its Hong Kong initial public offering, confirming strong demand across both retail and institutional tranches.

Key terms • Offer size: 42.63 million H shares, representing 10.59 % of enlarged share capital. • Offer price: HK$24.86 per share. • Gross proceeds: HK$1.06 billion; estimated net proceeds: HK$922.00 million after HK$137.70 million listing expenses. • Trading debut: 29 April 2026 on the Main Board of the Stock Exchange of Hong Kong under the short name “SUNMI TECH-W”.

Demand snapshot • Hong Kong Public Offering (4.26 million shares, 10 % of deal): 204,939 valid applications, 2,003.16 times subscribed. • International Offering (38.36 million shares, 90 % of deal): 7.91 times subscribed, allocated to 181 placees. • No claw-back mechanism was triggered; tranche sizes remained unchanged.

Shareholder structure on listing • Total shares outstanding: 402.63 million (including weighted-voting Class A shares). • Public float: 164.61 million H shares, or 54.14 % of H-share count, meeting the 15 % Listing Rule requirement. • Free float (shares not subject to legal or contractual lock-up): HK$773 million in market value, equal to 10.23 % of listed H-shares.

Cornerstone investors • China Orient Enhanced Income Fund: 1.58 million shares (3.70 % of offering; lock-up until 28 March 2027). • XINWUTANG CO., LIMITED (close associate of an existing minority shareholder): 9.95 million shares (23.33 % of offering; lock-up until 28 October 2026).

Concentration metrics • Largest single institutional placee received 12.24 million shares, or 31.91 % of the International Offering. • Top 10 institutional placees collectively took 27.46 million shares, equal to 64.43 % of total shares offered. • At listing, the top 10 H-shareholders will hold 277.90 million H shares, representing 69.02 % of issued share capital.

Lock-up commitments • Founder Mr. Lin Zhe: 98.58 million Class A shares locked until 28 April 2027. • Employee and affiliate vehicles (Woyou ESOP, Woyou Partnership, Ningbo Woyou): 41.25 million Class B ordinary shares locked until the same date. • Pre-IPO investors: 220.16 million H shares (72.41 % of H-lock-up pool) restricted until 28 April 2027.

Regulatory notes • Sunmi Technology is governed by a weighted voting rights structure; Class A shares carry enhanced voting power but will not convert into H shares. • The Stock Exchange approved specific waivers to allow allocation to a close associate of an existing shareholder and to certain connected clients, all within the Placing Guidelines.

Dealings in Sunmi Technology’s H shares will begin at 09:00 HKT on 29 April 2026 in lots of 100 shares each. Share certificates will become valid at 08:00 HKT the same day, provided all listing conditions are met and underwriting agreements are not terminated.