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wrote a column · Jun 26 09:38

New IPO Pricing | Chip Optical Micro-Equipment debuted today, receiving 1,007.22x subscription, priced at HK$252.73 per share, with grey market gains exceeding HK$9,600 per lot.

Futu News, June 26: $CFMEE (09630.HK)$ The allocation results have been announced: priced at HK$252.73 per share, a total of 12,838,700 shares issued, with each board lot comprising 50 shares. The stock officially listed today.
On the previous trading day, Chip Optical Micro-Equipment closed up 76.16% in the grey market at HK$445.20 per share. With each board lot of 50 shares, investors gained HK$9,623.50 per lot excluding fees.
During the public offering phase, Chip Optical Micro-Equipment received 1,007.22x subscription. The final number of shares allocated to the public offering was 1,283,900 shares, representing approximately 10% of the total offering. Approximately 208,000 valid applications were received, with around 24,412 applications processed. Applicants who applied for one board lot received an allocation covering roughly 3% of their total requested shares.
Additionally, during the international offering phase, Xinji Micro-Equipment received 27.22 times subscription, with the final number of shares allocated to the international offering amounting to 11.2412 million shares, representing 90% of the total offering size. Futu compiled the relevant data in the table below:
Futu News, June 26: $CFMEE (09630.HK)$ The allocation results have been announced: priced at HK$252.73 per share, a total of 12,838,700 shares issued, with each board lot comprising 50 shares. The stock officially listed today. On the previous trading day, Chip Optical Micro-Equipment closed up 76.16% in the grey market at HK$445.20 per share. With each board lot of 50 shares, investors gained HK$9,623.50 per lot excluding fees. During the public offering phase, Chip Optical Micro-Equipment received 1,007.22x subscription. The final number of shares allocated to the public offering was 1,283,900 shares, representing approximately 10% of the total offering. Approximately 208,000 valid applications were received, with around 24,412 applications processed. Applicants who applied for one board lot received an allocation covering roughly 3% of their total requested shares. Additionally, during the international placement phase, Chip Optical Micro-Equipment received 27.22x subscription. The final number of shares allocated to international investors was 11,241,200 shares, equivalent to 90% of the total offering. Futu compiled the relevant data as shown in the table below: Company Overview Chip Optical Micro-Equipment is the world’s largest supplier of direct imaging equipment for printed circuit boards (PCBs), providing PCB direct imaging systems and semiconductor direct-write lithography equipment in the AI era. Leveraging its core expertise in high-precision micro-nano lithography technology and its proven ability to apply proprietary technologies to diverse innovative applications, the company is committed to manufacturing, selling, and maintaining direct imaging and direct-write lithography solutions for global customers...
Futu News, June 26: $CFMEE (09630.HK)$ The allocation results have been announced: priced at HK$252.73 per share, a total of 12,838,700 shares issued, with each board lot comprising 50 shares. The stock officially listed today. On the previous trading day, Chip Optical Micro-Equipment closed up 76.16% in the grey market at HK$445.20 per share. With each board lot of 50 shares, investors gained HK$9,623.50 per lot excluding fees. During the public offering phase, Chip Optical Micro-Equipment received 1,007.22x subscription. The final number of shares allocated to the public offering was 1,283,900 shares, representing approximately 10% of the total offering. Approximately 208,000 valid applications were received, with around 24,412 applications processed. Applicants who applied for one board lot received an allocation covering roughly 3% of their total requested shares. Additionally, during the international placement phase, Chip Optical Micro-Equipment received 27.22x subscription. The final number of shares allocated to international investors was 11,241,200 shares, equivalent to 90% of the total offering. Futu compiled the relevant data as shown in the table below: Company Overview Chip Optical Micro-Equipment is the world’s largest supplier of direct imaging equipment for printed circuit boards (PCBs), providing PCB direct imaging systems and semiconductor direct-write lithography equipment in the AI era. Leveraging its core expertise in high-precision micro-nano lithography technology and its proven ability to apply proprietary technologies to diverse innovative applications, the company is committed to manufacturing, selling, and maintaining direct imaging and direct-write lithography solutions for global customers...
Company Overview
Sino Lithography is the world’s largest supplier of PCB direct imaging equipment, providing PCB direct imaging and semiconductor maskless lithography equipment in the AI era. Leveraging its mature capabilities in core high-precision micro-nano lithography technology development and applying its proprietary technologies to diverse innovative applications, the company is committed to manufacturing, selling, and servicing direct imaging and maskless lithography equipment for global customers.
The company has established a comprehensive R&D technology framework covering light sources and exposure engines, precision wafer stages, alignment and focus systems, data pathways, and modular system integration design. Focused on delivering innovative, stable, and reliable micro-nano maskless lithography equipment, the company strives to maximize value for its clients. During the historical reporting period, its product portfolio primarily included PCB direct imaging equipment and automated production lines, as well as semiconductor maskless lithography equipment and automated production lines.
Financial Summary
Sino Lithography’s revenue increased from RMB 828.9 million in 2023 to RMB 953.9 million in 2024, and further rose to RMB 1,408.1 million, representing a compound annual growth rate (CAGR) of 30.3% from 2023 to 2025.
The company's gross profit decreased from RMB 338.8 million in 2023 to RMB 338.7 million in 2024, and further increased to RMB 551.0 million, representing a compound annual growth rate (CAGR) of 27.5% from 2023 to 2025. The company recorded net profits of RMB 179.3 million, RMB 160.7 million, and RMB 289.9 million in 2023, 2024, and 2025, respectively.
Source: Prospectus
Source: Prospectus
Use of Proceeds
Regarding the use of proceeds, Xinji Micro-Equipment expects net proceeds from the global offering to be approximately HK$3.153 billion (based on the mid-point offer price of HK$252.73 per share). According to the prospectus, Xinji Micro-Equipment intends to allocate the proceeds from the global offering to the following purposes:
Approximately 25% will be used to enhance the company's research and development capabilities; approximately 18% will be used to expand the company's overall production capacity; approximately 27% will be allocated for strategic investments and/or acquisitions; approximately 20% will be used to expand the company's international sales business and develop its overseas sales and service network; and approximately 10% will be used for working capital and other general corporate purposes.
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Futu News, June 26: $CFMEE (09630.HK)$ The allocation results have been announced: priced at HK$252.73 per share, a total of 12,838,700 shares issued, with each board lot comprising 50 shares. The stock officially listed today. On the previous trading day, Chip Optical Micro-Equipment closed up 76.16% in the grey market at HK$445.20 per share. With each board lot of 50 shares, investors gained HK$9,623.50 per lot excluding fees. During the public offering phase, Chip Optical Micro-Equipment received 1,007.22x subscription. The final number of shares allocated to the public offering was 1,283,900 shares, representing approximately 10% of the total offering. Approximately 208,000 valid applications were received, with around 24,412 applications processed. Applicants who applied for one board lot received an allocation covering roughly 3% of their total requested shares. Additionally, during the international placement phase, Chip Optical Micro-Equipment received 27.22x subscription. The final number of shares allocated to international investors was 11,241,200 shares, equivalent to 90% of the total offering. Futu compiled the relevant data as shown in the table below: Company Overview Chip Optical Micro-Equipment is the world’s largest supplier of direct imaging equipment for printed circuit boards (PCBs), providing PCB direct imaging systems and semiconductor direct-write lithography equipment in the AI era. Leveraging its core expertise in high-precision micro-nano lithography technology and its proven ability to apply proprietary technologies to diverse innovative applications, the company is committed to manufacturing, selling, and maintaining direct imaging and direct-write lithography solutions for global customers...
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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