New Share Pricing | Huanchuang Technology listed today, with oversubscription exceeding 3,500 times; the offer price was set at HK$58.85 per share, and the grey‑market trading saw a profit of HK$11,195 per lot.

According to Futu News on September 30,$CAMSENSE (06802.HK)$The allocation results have been announced, with a share price of HK$58.85 per share. A total of 11.5888 million shares were issued, in board lots of 100 shares each, and the stock officially listed today.

On the previous trading day, Huanchuang Technology's grey market closing price rose by 190.23% to HK$170.8 per share. With a lot size of 100 shares and excluding transaction fees, the profit per lot was HK$11,195.

During the public offering phase, Huanchuang Technology saw subscription oversubscription of 3,546.91 times. The final number of shares offered publicly was 1.1589 million, accounting for approximately 10.00% of the total offer shares. A total of approximately 157,300 valid applications were received, with about 11,589 applications accepted. The approximate allocation rate for one-lot applicants was 2.00% of their total applied shares.

Furthermore, during the international placement phase, Huanchuang Technology was oversubscribed by 5.53 times. The final number of internationally placed shares was 10.4299 million, equivalent to 90.00% of the total offer shares. Futu has compiled the relevant data in the table below:

Company Overview

Huanchuang Technology is dedicated to developing spatial perception products, with a focus on robot vacuums. During the track record period, the company primarily generated revenue by supplying spatial perception components to robot vacuum manufacturers for integration into their devices. The company has built an intelligent spatial perception system, providing both algorithms and hardware for robot vacuums. Since its inception, cumulative shipments have exceeded 39 million units.

After years of technological development and product iteration, the company offers a diversified product matrix covering traditional triangulation LiDAR, direct Time-of-Flight ("dTOF") LiDAR, 3D TOF LiDAR, and line laser sensors, meeting differentiated needs across various application scenarios. The company also possesses in-house capabilities in designing sub-millimeter-level spatial data processing chips and developing core spatial perception algorithms.

Financial Overview

Huanchuang Technology's revenues for 2023, 2024, and 2025 were RMB 332 million, RMB 433 million, and RMB 614 million, respectively; gross profits for the same periods were RMB 71.255 million, RMB 70.841 million, and RMB 101 million, with gross margins of 21.5%, 16.3%, and 16.5%, respectively. In 2023 and 2024, the company recorded annual losses of RMB 883,000 and RMB 31.375 million, respectively; in 2025, it turned profitable, recording an annual profit of RMB 2.201 million.

Source: Prospectus

Use of Proceeds

Regarding the use of proceeds, the net proceeds from Huanchuang Technology's global offering amounted to approximately HK$615 million (calculated based on an offer price of HK$58.85 per share). According to the prospectus, Huanchuang Technology intends to use the funds raised from the global offering for the following purposes:

Approximately 65.0% will be used to enhance R&D capabilities, strengthening the development of core technologies and sensor products; approximately 25.0% will be used to upgrade manufacturing capabilities; and approximately 10.0% will be used for working capital and general corporate purposes.

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Edited by/Joe

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