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joined discussion · Feb 3 11:18

[IPO Tracker] Lead Intelligent Equipment Launches IPO Subscription, Performance Fluctuations Require Attention

Since the beginning of this year, companies from the A-share market $OMNIVISION (00501.HK)$ 、 $GIGADEVICE (03986.HK)$ 、 $EASTROC (09980.HK)$ have successively achieved listings on the Hong Kong stock exchange. Notably, according to the latest information, another leading company from the A-share market —— $WUXI LEAD (00470.HK)$ has kicked off its IPO and is set to enter the Hong Kong stock market. Specifically,This time, Lead Intelligent Equipment plans to globally offer 93,616,000 H-shares, using Mechanism B for issuance.Among them, 9,361,600 shares (subject to reallocation) will be offered in the Hong Kong public offering, accounting for about 10%; approximately 84,254,400 shares will be allocated internationally, accounting for about 90%; there is also a 15% over-allotment option. The upper limit of the offering price is HKD 45.80 per share. At this maximum offering price, assuming the over-allotment option is not exercised, the expected net proceeds are approximately HKD 4.166 billion.Of this, about 40% will be used to expand the global R&D, sales, and service network, advancing the globalization strategy; about 30% will be used to deepen the platformization strategy; about 10% will be used for R&D on product design and manufacturing processes, as well as optimization of intelligent equipment technology; about 10% will be used to enhance digital infrastructure and improve various business processes; about 10% will be used for working capital and general corporate purposes. The subscription period for Lead Intelligent Equipment runs from February 3 to February 6, 2026, with an expected official listing date of February 11.Each lot consists of 100 shares, with the entry fee based on the issuance...
Since the beginning of this year, several companies from the A-share market $OMNIVISION (00501.HK)$ 、 $GIGADEVICE (03986.HK)$ 、 $EASTROC (09980.HK)$ have successively achieved listings on the Hong Kong stock exchange.
Notably, according to the latest information, another leading company from the A-share market —— $WUXI LEAD (00470.HK)$ has kicked off its IPO and is set to enter the Hong Kong stock market.
Specifically,This time, Lead Intelligent plans to globally offer 93,616,000 H-shares, using Mechanism B for issuance.Among these, 9,361,600 shares (subject to reallocation) will be available for public offering in Hong Kong, accounting for approximately 10%; about 84,254,400 shares will be allocated internationally, making up around 90%; there is also a 15% over-allotment option.
The maximum offer price is set at HKD 45.80 per share. Based on this upper limit, assuming the over-allotment option is not exercised, the expected net proceeds from the fundraising are approximately HKD 4.166 billion.Of this amount, around 40% will be used to expand the global R&D, sales, and service network, advancing the globalization strategy; about 30% will go towards deepening the platform-based strategy; roughly 10% will be allocated for product design and manufacturing process optimization and intelligent equipment technology research; about 10% will be dedicated to enhancing digital infrastructure and improving various business processes; and approximately 10% will serve as working capital and for general corporate purposes.
Lead Intelligent’s subscription period runs from February 3 to February 6, 2026, with an expected official listing date of February 11.Each lot comprises 100 shares, with the entry fee calculated at the upper limit of the offer price amounting to approximately HKD 4,626.19.
Notably, Lead Intelligent's offering has garnered favor from multiple parties, with a strong cornerstone lineup including Oaktree, Ovanda Fund, Wuxi Jinchou, and Guotai Haitong.The cornerstone investors collectively intend to subscribe for shares worth approximately 2.75 billion US dollars.
Since the beginning of this year, companies from the A-share market $OMNIVISION (00501.HK)$ 、 $GIGADEVICE (03986.HK)$ 、 $EASTROC (09980.HK)$ have successively achieved listings on the Hong Kong stock exchange. Notably, according to the latest information, another leading company from the A-share market —— $WUXI LEAD (00470.HK)$ has kicked off its IPO and is set to enter the Hong Kong stock market. Specifically,This time, Lead Intelligent Equipment plans to globally offer 93,616,000 H-shares, using Mechanism B for issuance.Among them, 9,361,600 shares (subject to reallocation) will be offered in the Hong Kong public offering, accounting for about 10%; approximately 84,254,400 shares will be allocated internationally, accounting for about 90%; there is also a 15% over-allotment option. The upper limit of the offering price is HKD 45.80 per share. At this maximum offering price, assuming the over-allotment option is not exercised, the expected net proceeds are approximately HKD 4.166 billion.Of this, about 40% will be used to expand the global R&D, sales, and service network, advancing the globalization strategy; about 30% will be used to deepen the platformization strategy; about 10% will be used for R&D on product design and manufacturing processes, as well as optimization of intelligent equipment technology; about 10% will be used to enhance digital infrastructure and improve various business processes; about 10% will be used for working capital and general corporate purposes. The subscription period for Lead Intelligent Equipment runs from February 3 to February 6, 2026, with an expected official listing date of February 11.Each lot consists of 100 shares, with the entry fee based on the issuance...
According to the announcement, Lead Intelligent is an intelligent equipment enterprise that provides smart equipment and solutions for numerous emerging industries. The manufacturing equipment and solutions delivered by the company are widely distributed across diverse application areas such as lithium battery production, photovoltaic cell manufacturing, computer, communication, and consumer electronics (3C) production, intelligent logistics, hydrogen production and fuel cell manufacturing, automobile production, and laser precision processing.
According to Frost & Sullivan data, in terms of 2024 revenue, Lead Intelligent is the world's second-largest new energy intelligent equipment supplier, with a market share of 2.9%. In the same year, based on 2024 revenue, the company became the world’s largest lithium battery intelligent equipment supplier, holding a market share of 15.5%, and also ranked as China’s largest lithium battery intelligent equipment supplier by revenue, commanding a market share of 19.0%.
In terms of performance, from 2022 to 2024, Lead Intelligent's revenues were 13.836 billion yuan, 16.483 billion yuan, and 11.773 billion yuan, respectively; net profits during the periods were 2.318 billion yuan, 1.771 billion yuan, and 268 million yuan, experiencing a continuous decline.
However, in the first three quarters of 2025, the company's revenue rebounded to 10.388 billion yuan, while net profit also recovered to 1.161 billion yuan.
For more in-depth analysis of Lead Intelligent, please refer to previous reports by Caihua News: "Infographic: Lead Intelligent passes listing hearing, global lithium battery equipment leader with annual revenue surpassing 10.3 billion yuan》。
Author: Yan Shisi
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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