New IPO News | Dajin Heavy Industry, a 'core equipment supplier for offshore wind power,' has launched its IPO subscription and is scheduled to list on June 5, with a minimum subscription amount of HK$6,706.97 per board lot

Futu News, May 28:$DAJIN (01081.HK)$The company announced that its IPO subscription period will run from May 28 to June 2, offering approximately 86,965,800 shares globally, with listing expected on June 5.

Company Overview

The company is a globally leading supplier of core equipment for offshore wind power. With nearly two decades of deep involvement in the wind power industry, it provides major global offshore wind developers with an integrated one-stop solution covering construction, transportation, and delivery of wind power foundation equipment.

The company has proactively positioned itself in the global deep- and far-offshore wind power market, consistently focusing on mainstream international offshore wind markets characterized by high technical standards, stringent quality requirements, and significant commercial potential. Its core business encompasses R&D and manufacturing of offshore wind foundation equipment, specialized long-distance maritime transport, vessel design and construction, wind and photovoltaic power generation, and operations of offshore wind hub ports.

Financial Summary

For the years 2023, 2024, and 2025, the company’s revenue amounted to RMB 43,251 million, RMB 37,797 million, and RMB 61,736 million, respectively. During the same periods, its total gross profit was RMB 10,010 million, RMB 11,274 million, and RMB 19,192 million, respectively, resulting in overall gross margins of 23.1%, 29.8%, and 31.1%.

Use of Proceeds

Regarding the use of proceeds, Dajin Heavy Industry expects net proceeds from the global offering to be approximately HKD 5.616 billion (assuming the over-allotment option is not exercised and based on an issue price of HKD 66.4 per share). According to the prospectus, Dajin Heavy Industry intends to allocate the proceeds from the global offering as follows:

Approximately 55.0% will be allocated to upgrading integrated deep- and far-offshore solutions, approximately 20.0% to investment in and construction of a European final assembly facility, approximately 10.0% to the company’s wholly owned global R&D center, approximately 5.0% to expanding into new overseas markets, and approximately 10.0% to general working capital and corporate purposes.

Further reading:Dajin Heavy Industry Prospectus

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Editor/Vincent

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