AUX Electric (02580) concluded its IPO subscription period, which ran from August 25 to noon on August 28. Subscription ended at 11:30 AM on August 28, with AUX Electric recording HK$82.3 billion in margin financing subscriptions. Based on the public offering's fundraising amount of HK$180 million, the margin subscriptions were oversubscribed by 456 times.

AUX Electric plans to offer a total of 207 million shares, with the Hong Kong public offering accounting for 5%. The offer price ranges from HK$16 to HK$17.42 per share, potentially raising up to HK$3.609 billion. Each board lot consists of 200 shares, with an entry cost of HK$3,519.14. AUX Electric is expected to list on September 2, with China International Capital Corporation serving as the sole sponsor.

AUX Electric has established a clawback mechanism. If the public offering portion exceeds subscription multiples of 15, 50, and 100 times, the public offering's proportion of initially available shares for subscription will increase to 15%, 25%, and 35% respectively, provided that the international offering shares are fully subscribed or oversubscribed.

Regarding fund utilization, AUX Electric plans to allocate approximately 20% of the IPO proceeds for global research and development, about 50% for upgrading intelligent manufacturing systems and supply chain management, around 20% for strengthening sales and distribution channels, and about 10% for working capital and general corporate purposes.

According to the prospectus, AUX Electric is one of the world's top five air conditioning providers, integrating design, research and development, production, sales, and service for both residential and central air conditioning systems. The company's air conditioning business covers more than 150 countries and regions. Based on Frost & Sullivan data, calculated by 2024 sales volume, the company ranks as the world's fifth-largest air conditioning provider with a market share of 7.1%. It is also the leading brand in China's mass market for residential air conditioning, holding a market share of 25.7%.

During the track record period, AUX Electric maintained rapid growth momentum. From 2022 to 2024, the company's sales volume compound annual growth rate reached 30.0%, while the global air conditioning market's sales volume compound annual growth rate during the same period was 4.6%. Notably, AUX Electric's overseas market development has been robust, contributing significantly to overall performance. For the three months ended March 31, 2025, overseas revenue accounted for 57.1% of total revenue.