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2026 IPO bonanza! Over 90% of new stocks rose on their debut!
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joined discussion · Mar 23 07:36

IPO Pricing | National Technology debuts today, with over 130 times subscription, priced at HKD 10.8 per share, and a 30% allotment rate for one lot

Futu Information, March 23rd update, $NSING TECH (02701.HK)$ Announced the allocation results, priced at HKD 10.8 per share, issuing a total of 95 million shares, with each lot consisting of 200 shares, officially listed today.
During the public offering phase, National Technology received 131.83 times subscription, with the final number of shares allocated in the public offering being 9.5 million shares, accounting for approximately 10% of the total issued shares. A total of approximately 56,547 valid applications were received, with about 24,399 accepted applications. The percentage of shares allocated to one-lot applicants relative to the total applied shares is approximately 30%.
In addition, National Technology's international placement was subscribed 2.51 times during the international placement phase. The final number of international placement shares was 85.5 million shares, accounting for 90% of the total number of placement shares. Futu Information has compiled the relevant data in the table below:
Futu Information, March 23rd update, $NSING TECH (02701.HK)$ Announced the allocation results, priced at HKD 10.8 per share, issuing a total of 95 million shares, with each lot consisting of 200 shares, officially listed today. During the public offering phase, National Technology received 131.83 times subscription, with the final number of shares allocated in the public offering being 9.5 million shares, accounting for approximately 10% of the total issued shares. A total of approximately 56,547 valid applications were received, with about 24,399 accepted applications. The percentage of shares allocated to one-lot applicants relative to the total applied shares is approximately 30%. In addition, during the international placement phase, National Technology received 2.51 times subscription, with the final number of international placement shares being 85.5 million shares, equivalent to 90% of the total issued shares. Futu Information has compiled the relevant data in the table below: Company Overview Nationz Technologies is a platform-based integrated circuit design company dedicated to providing control chips and system solutions for various smart terminals. Under its chip product business, the company has developed a diversified portfolio of products widely used in multiple key areas such as consumer electronics, industrial control and digital energy, smart homes, automotive electronics, and medical electronics. In addition to its chip product business, the company also operates a lithium battery anode material business. The company's lithium battery anode material business focuses on artificial graphite as its core, while exploring multiple technological routes such as silicon-carbon composites and hard carbon structures, widely used in new energy vehicles, energy storage systems...
Futu Information, March 23rd update, $NSING TECH (02701.HK)$ Announced the allocation results, priced at HKD 10.8 per share, issuing a total of 95 million shares, with each lot consisting of 200 shares, officially listed today. During the public offering phase, National Technology received 131.83 times subscription, with the final number of shares allocated in the public offering being 9.5 million shares, accounting for approximately 10% of the total issued shares. A total of approximately 56,547 valid applications were received, with about 24,399 accepted applications. The percentage of shares allocated to one-lot applicants relative to the total applied shares is approximately 30%. In addition, during the international placement phase, National Technology received 2.51 times subscription, with the final number of international placement shares being 85.5 million shares, equivalent to 90% of the total issued shares. Futu Information has compiled the relevant data in the table below: Company Overview Nationz Technologies is a platform-based integrated circuit design company dedicated to providing control chips and system solutions for various smart terminals. Under its chip product business, the company has developed a diversified portfolio of products widely used in multiple key areas such as consumer electronics, industrial control and digital energy, smart homes, automotive electronics, and medical electronics. In addition to its chip product business, the company also operates a lithium battery anode material business. The company's lithium battery anode material business focuses on artificial graphite as its core, while exploring multiple technological routes such as silicon-carbon composites and hard carbon structures, widely used in new energy vehicles, energy storage systems...
Futu Information, March 23rd update, $NSING TECH (02701.HK)$ Announced the allocation results, priced at HKD 10.8 per share, issuing a total of 95 million shares, with each lot consisting of 200 shares, officially listed today. During the public offering phase, National Technology received 131.83 times subscription, with the final number of shares allocated in the public offering being 9.5 million shares, accounting for approximately 10% of the total issued shares. A total of approximately 56,547 valid applications were received, with about 24,399 accepted applications. The percentage of shares allocated to one-lot applicants relative to the total applied shares is approximately 30%. In addition, during the international placement phase, National Technology received 2.51 times subscription, with the final number of international placement shares being 85.5 million shares, equivalent to 90% of the total issued shares. Futu Information has compiled the relevant data in the table below: Company Overview Nationz Technologies is a platform-based integrated circuit design company dedicated to providing control chips and system solutions for various smart terminals. Under its chip product business, the company has developed a diversified portfolio of products widely used in multiple key areas such as consumer electronics, industrial control and digital energy, smart homes, automotive electronics, and medical electronics. In addition to its chip product business, the company also operates a lithium battery anode material business. The company's lithium battery anode material business focuses on artificial graphite as its core, while exploring multiple technological routes such as silicon-carbon composites and hard carbon structures, widely used in new energy vehicles, energy storage systems...
Company Overview
Nationz Technologies is a platform-based integrated circuit design company dedicated to providing control chips and system solutions for various smart terminals. Under its chip product business, the company has developed a diversified portfolio of products widely used in multiple key areas such as consumer electronics, industrial control and digital energy, smart homes, automotive electronics, and medical electronics.
In addition to its chip product business, the company also operates a lithium battery anode material business. The company's lithium battery anode materials business focuses on artificial graphite and explores multi-technical routes such as silicon-carbon composites and hard carbon structures. These are widely used in new energy vehicles, energy storage systems, and portable devices, with clients covering mainstream battery manufacturers in the industry.
Moreover, the company holds a significant market share in the fields of financial payment security and computing terminal security. The company’s specialized market chips are extensively applied across various financial payment areas including USBKey, financial payment terminals, QR code payments, and biometric recognition payments. According to CIC data, the company has ranked first in market share for the USBKey sector for many consecutive years. Additionally, according to CIC, the company's trusted computing chip products have been widely adopted in embedded system applications such as enterprise-level computers, servers, and industrial control computers, maintaining a long-term leadership position in the Chinese market.
Financial Overview
In 2022, 2023, and 2024, Nationz Technologies' revenue remained relatively stable at RMB 1,195.4 million, RMB 1,036.8 million, and RMB 1,167.6 million, respectively. The company's gross profit fell from RMB 426.0 million in 2022 to RMB 18.0 million in 2023 but rebounded to RMB 182.4 million in 2024. Net losses increased from RMB 18.9 million in 2022 to RMB 594.0 million in 2023; nevertheless, the company successfully narrowed this loss by 56.9% to RMB 255.7 million in 2024.
Source: Prospectus
Source: Prospectus
Use of Proceeds
In terms of use of proceeds, National Technology is expected to receive net proceeds of approximately HK$944 million from the global offering (assuming the over-allotment option is not exercised and the offer price is HK$10.8). According to the prospectus, National Technology intends to allocate the proceeds from the global offering for the following purposes in the amounts set out below:
Approximately 50.8% will be used to enhance the company's R&D capabilities, develop new product lines, and improve product performance, including high-performance MCUs, multi-protocol communication chips, specialized market chips, and automotive-grade chips. Around 9.2% will be allocated to upgrading the company’s existing product portfolio. Approximately 15% will be used for strategic investments and acquisitions. Another 15% will go towards repaying part of the outstanding bank loans, and about 10% will be utilized for working capital and other general corporate purposes.
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Futu Information, March 23rd update, $NSING TECH (02701.HK)$ Announced the allocation results, priced at HKD 10.8 per share, issuing a total of 95 million shares, with each lot consisting of 200 shares, officially listed today. During the public offering phase, National Technology received 131.83 times subscription, with the final number of shares allocated in the public offering being 9.5 million shares, accounting for approximately 10% of the total issued shares. A total of approximately 56,547 valid applications were received, with about 24,399 accepted applications. The percentage of shares allocated to one-lot applicants relative to the total applied shares is approximately 30%. In addition, during the international placement phase, National Technology received 2.51 times subscription, with the final number of international placement shares being 85.5 million shares, equivalent to 90% of the total issued shares. Futu Information has compiled the relevant data in the table below: Company Overview Nationz Technologies is a platform-based integrated circuit design company dedicated to providing control chips and system solutions for various smart terminals. Under its chip product business, the company has developed a diversified portfolio of products widely used in multiple key areas such as consumer electronics, industrial control and digital energy, smart homes, automotive electronics, and medical electronics. In addition to its chip product business, the company also operates a lithium battery anode material business. The company's lithium battery anode material business focuses on artificial graphite as its core, while exploring multiple technological routes such as silicon-carbon composites and hard carbon structures, widely used in new energy vehicles, energy storage systems...
Editor/Joe
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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