Author Editor|Jason Last week (January 1-January 5), the Hong Kong Stock Exchange had 1 new listing, 5 new listings, 0 companies passed the hearing, and 2 companies submitted listing applications. As of January 5, 2024, 1 new listing on the Hong Kong Stock Exchange this year (1 IPO, 0 introduction listing, 0 transfer), raising a total of 9HK$8.5 billion.
A total of 1 new shares were listed, which were:
1) Shenzhen Suteng Juchuang Technology***
On January 5, Robosense Technology Co., Ltd., the actual controlling shareholder of Shenzhen Suteng Juchuang Technology, Ltd. (abbreviated"Suteng Juchuang") (02498.)HK), successfully listed on the main board of the Hong Kong Stock Exchange, as of the first day**, the stock price was 43000 Hong Kong dollars, an increase of 000%。
Suteng Juchuang's IPO is 2290980,000 shares (before exercising the over-allotment option), with the final issue price of HK$43 per share, raising a total of approximately 9HK$8.5 billion. Assuming the exercise of the over-allotment option, an additional maximum of approximately 286370,000 shares, with a maximum of about 1HK$2.3 billion.
Founded in 2014, Suteng Juchuang, from Nanshan District, Shenzhen, Guangdong, as a global leader in the lidar and perception solutions market, mainly focuses on chip-driven lidar hardware as the foundation, and at the same time lays out artificial intelligence perception software technology to form solutions.
As of June 30, 2023, Suteng Juchuang has established cooperative relations with more than 250 automobile OEMs and Tier 1 manufacturers around the world, and has delivered more than 130,000 lidars since its establishment.
As of March 31, 2023, Suteng Juchuang has served the largest number of automotive OEMs and Tier 1 suppliers, the largest number of pre-installed mass production designated models, and the largest number of SOPs of models that have started mass production and delivery.
A total of 5 IPOs, namely:
1) Zhongshen Construction Holdings***
Private general contracting construction company Zhongshen Construction Holdings*** hereinafter referred to as Zhongshen Construction (02503.)HK), which will be offering shares from December 28, 2023 to January 4, 2024, plans to offer 128.7 million shares globally, and is expected to be listed on the Hong Kong Stock Exchange on January 9.
The net proceeds of the IPO of Zhongshen Construction Industry are about HK$85 million (based on the offer price of HK$1 per share).
About 457% will be used to fund certain projects recently awarded to the Company to meet capital requirements and cash flows
About 413% will be used to acquire a number of machinery;
About 70% will be used to recruit additional staff to meet the expected growth in business operations and to ensure sufficient manpower is reserved for ongoing and other future projects
About 60% will be used for working capital and other general corporate purposes.
Founded in 1997, as a private general contractor, Zhongshen Construction mainly provides customers with professional and comprehensive construction services, with municipal public works in Guangdong Province as the cornerstone, and its business covers Henan, Sichuan, Fujian, Hubei, Zhejiang, Xinjiang and other places.
The company has been selected as one of the top 500 enterprises in Shenzhen from 2020 to 2023. According to the Frost & Sullivan report, in terms of revenue in 2022, Zhongshen Construction ranks among the top 50 among more than 9,000 private construction companies headquartered in Guangdong Province.
During the Track Record Period, Zhongshen Construction mainly acted as the general contractor or subcontractor of construction projects, covering various types of construction projects, including construction works, municipal public works, foundation works and professional contracting works. The company is responsible for the overall coordination and management of the construction project, including the formulation of work plans, recruitment of manpower, rental of equipment and machinery, procurement of construction raw materials, quality control and construction progress.
2) Jingwei Tiandi Holdings***
China Telecom Network Support and Information and Communication Technology (ICT) Integration Services** Business Jingwei Tiandi Holdings*** hereinafter referred to as "Jingwei Tiandi") (02477HK), which will be offering from December 28, 2023 to January 12, 2024, plans to offer 125 million shares globally, and is expected to be listed on the Hong Kong Stock Exchange on January 12.
The net proceeds from the IPO are mainly used for:
Approximately 28% is expected to be used to finance future ICT integration projects to meet initial funding requirements;
About 257% is expected to be used for new R&D projects
About 147% is expected to be used to strengthen the project management team to support the expected expansion plan and business growth
Approximately 4% is expected to be used to fund sales and marketing efforts to expand headcount and marketing activities
About 176% is expected to be used to repay part of bank borrowings;Approximately 10% is expected to be used for general working capital purposes.
Founded in 2003, Jingwei Tiandi, as a leading provider of China Telecom's network support and information and communication technology (ICT) integration services, was mainly engaged in the development of telecom network performance analysis software when it started its business in 2003, and later expanded its business scope to provide telecom network support services and ICT integration services.
Matrix Partners' customers include telecommunications operators, telecommunications network and telecommunications equipment manufacturers, telecommunications network and technical service providers and general contractors, among others, and in the first half of 2023, the company has 64 customers and has a 16-year business relationship with the top five customers. Matrix Partners mainly provides telecom network support services, ICT integration services, and telecom network related software development services.
A total of 2 companies submitted listing applications, namely:
1) Mixue Bingcheng shares***
On January 2, Mixue Group (hereinafter referred to as) from Zhengzhou, Henan Province, Mixue Bingcheng Co., Ltd. (hereinafter referred to as"Mixue Bingcheng") submitted a prospectus on the Hong Kong Stock Exchange to be listed in a Hong Kong IPO.
In September 2022, the company submitted an application for listing of A-shares to the Shanghai Stock Exchange, which has since lapsed. 
As one of the world's leading ready-made beverage companies, Mixue Bingcheng focuses on providing consumers with high-quality and affordable freshly made fruit drinks, teas, ice cream, coffee and other products with a unit price of about 6 yuan. In 1997, Mr. Zhang Hongchao, the founder of Mixue Ice City, opened a small shop called Hanliu Shaved Ice in Zhengzhou with a self-made shaved ice machine, and started the road of entrepreneurship. In 1999, the Mixue Bingcheng brand was officially launched, in 2017, the Lucky Coffee brand was founded, and in 2018, the super IP and lifelong spokesperson of Mixue Bingcheng Snow King were created.
As of September 30, 2023, the number of members of Mixue Bingcheng reached about 21.5 billion;The monthly active members reached about 38 million in September 2023. As of the Latest Practicable Date, Mixue Bingcheng had approximately 43 million followers on six major social media platforms, including WeChat, Douyin, Kuaishou, Xiaohongshu, Weibo and Bilibili, making it the largest in China's ready-made beverage industry.
As of September 30, 2023, the store network of Mixue Bingcheng has more than 360,000 stores (about 320,000, 4,000 overseas), more than 998% of the stores are franchised stores, and the rest are self-operated stores. In the first nine months of 2023, the store network of Mixue Bingcheng has achieved a total of about 5.8 billion cups.
According to the CIC report, in the first nine months of 2023, in terms of terminal retail sales, beverage output, and number of stores (as of September 30, 2023), Mixue Bingcheng was the largest ready-made beverage company in China, and the number of beverage cups sold in the company's store network exceeded the sum of the beverage cups produced by the second to fifth largest in the industryIn terms of the number of drinks produced, Mixue Bingcheng is also the world's second largest ready-made beverage company.
2) Gu Ming Holdings***
On January 2, Guming Holdings Limited (hereinafter referred to as Guming Holdings Limited (hereinafter referred to as) from Hangzhou, Zhejiang"Gu Ming") submitted a prospectus on the Hong Kong Stock Exchange to be listed in a Hong Kong IPO.
As an industry-leading and fast-growing Chinese ready-made beverage company, Gu Ming is committed to providing consumers with fresh, delicious, consistent and high-quality products. In 2010, Mr. Wang Yun'an, the founder of Gu Ming, opened the first Gu Ming store in Daxi Town, Wenling, Taizhou, Zhejiang.
According to the CIC report, in terms of merchandise sales (GMV) in 2023 and the number of stores as of December 31, 2023, Gu Ming is the largest mass freshly made tea shop brand in China, and the second largest ready-made tea shop brand in China. As of December 31, 2023, Gu Ming's store network has a total of 9,001 stores (8,995 franchised stores and 6 directly managed stores), making it one of the top five ready-made beverage brands in the world by number of stores. As of December 31, 2023, Gu Ming has established a presence in 15 provinces across the country, and has established a store network of more than key scale (more than 500 stores in a single province) in eight provinces, including more than 2,000 stores in Zhejiang. In the first nine months of 2023, Gu Ming achieved a market share of more than 25% in the above-mentioned eight provinces, of which in Zhejiang, Fujian and Jiangxi, which were the first to reach a key scale, the company's market share in the mass freshly made tea shops reached more than 45% in the same period, and the market share in the whole first-class freshly made tea shop brand is also the first in the industry.
As of December 31, 2023, 79% of the total number of stores in Tier 2 and below cities, with 38% of stores located in towns and villages far from urban centers, both of which are the highest among the top five mass tea shop brands in China by number of stores, according to the CIC report.
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