The company Haiqing Zhiyuan (01392) will open its share offering from June 11 to June 16, 2026. The global offering comprises 85.1625 million H shares, with approximately 10% allocated for the Hong Kong public offering and around 90% for the international offering.

The offer price is set at HK$7.20 per share, with a board lot size of 500 shares. Trading of the H shares on the Main Board of The Stock Exchange of Hong Kong is expected to commence at 9:00 a.m. on Monday, June 22, 2026.

Historical Financial Performance

During the track record period, the company's revenue for the fiscal years 2023, 2024, and 2025 was approximately RMB 117 million, RMB 522.6 million, and RMB 668.5 million, respectively. This represents a compound annual growth rate of about 138.9%.

It is noteworthy that the company recorded a net loss of approximately RMB 18.4 million in fiscal 2023. However, it returned to profitability in fiscal 2024 and 2025, achieving net profits of about RMB 40.4 million and RMB 29.4 million, respectively.

Use of Proceeds

Assuming an offer price of HK$7.20 per share, the company estimates the net proceeds from the global offering will amount to approximately HK$536.8 million.

Roughly 50.0% of the net proceeds are earmarked for enhancing the company's research and development capabilities and increasing product development investment. Approximately 25.0% is intended to expand production capacity to meet growing demand.

About 15.0% will be allocated to accelerate business expansion and global market penetration efforts. The remaining 10.0% is designated for general working capital and corporate purposes.