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IPO pricing | Innovation Qizhi won 13.89 times more subscriptions, priced at HK$26.3 per share

Futu News, January 26, this Wednesday$AINNOVATION (02121.HK)$The announcement announced that the company will issue 44.7444 million shares, priced at HK$26.3 per share, and 100 shares per lot. It is expected to go public on January 27.
At the public sale stage, Innovation Qizhi received about 13.89 times more subscriptions. The final number of shares on sale distributed to the public sale was 4.474,600 shares, accounting for about 10% of the total number of shares offered (before any over-allotment rights were exercised).A total of 3,3123 valid applications were received, with a first-hand winning rate of 15%, and a steady first-hand purchase of 15 lots.
Furthermore, the international offering has already received a small amount of oversubscription (about 2.62 times), and the final number of shares offered was about 40.2698 million shares, which is equivalent to about 90% of the total number of shares offered (before any over-allotment rights are exercised). Futu News has compiled relevant data in the following table:
Futu News, January 26, this Wednesday$AINNOVATION (02121.HK)$The announcement announced that the company will issue 44.7444 million shares, priced at HK$26.3 per share, and 100 shares per lot. It is expected to go public on January 27. At the public sale stage, Innovation Qizhi received about 13.89 times more subscriptions. The final number of shares on sale distributed to the public sale was 4.474,600 shares, accounting for about 10% of the total number of shares offered (before any over-allotment rights were exercised). A total of 3,3123 valid applications were received, with a first-hand winning rate of 15%, and a steady first-hand purchase of 15 lots. Furthermore, the international offering has already received a small amount of oversubscription (about 2.62 times), and the final number of shares offered was about 40.2698 million shares, which is equivalent to about 90% of the total number of shares offered (before any over-allotment rights are exercised). Futu News has compiled relevant data in the following table: The net proceeds of approximately HK$1.07 billion will be used for the following purposes: about 45% to enhance the company's R&D capabilities; about 25% to enhance commercialization capabilities; about 10% for potential strategic investments and acquisitions; about 10% to enhance internal systems and upgrade the company's information infrastructure; and approximately 10% for working capital and general corporate purposes. Innovation Qizhi is a rapidly growing AI solution provider that develops and provides AI products and solutions for manufacturing, financial services and other industries in China. According to Frost & Sullivan, in 2020, by revenue...
The net proceeds of approximately HK$1.07 billion will be used for the following purposes: about 45% to enhance the company's R&D capabilities; about 25% to enhance commercialization capabilities; about 10% for potential strategic investments and acquisitions; about 10% to enhance internal systems and upgrade the company's information infrastructure; and approximately 10% for working capital and general corporate purposes.
Innovation Qizhi is a rapidly growing AI solution provider that develops and provides AI products and solutions for manufacturing, financial services, and other industries in China. According to Frost & Sullivan,In 2020, in terms of revenue, the company was the largest AI technology-driven provider of AI technology in the Chinese manufacturing industry market.

By combining AI technology with insight into industry scenarios, Innovation Qizhi provides full-stack AI products and solutions, including AI platforms, algorithms, software and AI-enabled devices, to promote the intelligent transformation of enterprise business operations and information management to reduce costs, improve operational efficiency, and optimize decision-making.
Innovation Qizhi continues to upgrade and optimize the company's AI products and solutions, focusing on the manufacturing and financial services industry and other vertical segments to provide more diversified and user-friendly AI products and solutions for various business scenarios, thereby increasing competitive barriers and consolidating the company's leading position in the industry.
Futu News, January 26, this Wednesday$AINNOVATION (02121.HK)$The announcement announced that the company will issue 44.7444 million shares, priced at HK$26.3 per share, and 100 shares per lot. It is expected to go public on January 27. At the public sale stage, Innovation Qizhi received about 13.89 times more subscriptions. The final number of shares on sale distributed to the public sale was 4.474,600 shares, accounting for about 10% of the total number of shares offered (before any over-allotment rights were exercised). A total of 3,3123 valid applications were received, with a first-hand winning rate of 15%, and a steady first-hand purchase of 15 lots. Furthermore, the international offering has already received a small amount of oversubscription (about 2.62 times), and the final number of shares offered was about 40.2698 million shares, which is equivalent to about 90% of the total number of shares offered (before any over-allotment rights are exercised). Futu News has compiled relevant data in the following table: The net proceeds of approximately HK$1.07 billion will be used for the following purposes: about 45% to enhance the company's R&D capabilities; about 25% to enhance commercialization capabilities; about 10% for potential strategic investments and acquisitions; about 10% to enhance internal systems and upgrade the company's information infrastructure; and approximately 10% for working capital and general corporate purposes. Innovation Qizhi is a rapidly growing AI solution provider that develops and provides AI products and solutions for manufacturing, financial services and other industries in China. According to Frost & Sullivan, in 2020, by revenue...
It is worth noting thatThe chairman of the company is Li Kaifu, a well-known entrepreneurLi Kaifu has more than 30 years of experience in artificial intelligence related industries. He has served as the president of Google China and executives of Microsoft, SGI and Apple. He founded Sinovation Ventures Group in 2009, was the director of the Microsoft Asia Research Institute and the Co-Chairman of the Artificial Intelligence Committee of the World Economic Forum's Fourth Industrial Revolution Center, and was selected by “Time” magazine as one of the 100 most influential people in the world of the year in 2013.
In terms of financial conditions, the company's revenue in 2019 and 2020 was 229 million yuan and 462 million yuan respectively. In the first nine months of 2021, the company's revenue was 553 million yuan, an increase of 86% over the previous year.
Futu News, January 26, this Wednesday$AINNOVATION (02121.HK)$The announcement announced that the company will issue 44.7444 million shares, priced at HK$26.3 per share, and 100 shares per lot. It is expected to go public on January 27. At the public sale stage, Innovation Qizhi received about 13.89 times more subscriptions. The final number of shares on sale distributed to the public sale was 4.474,600 shares, accounting for about 10% of the total number of shares offered (before any over-allotment rights were exercised). A total of 3,3123 valid applications were received, with a first-hand winning rate of 15%, and a steady first-hand purchase of 15 lots. Furthermore, the international offering has already received a small amount of oversubscription (about 2.62 times), and the final number of shares offered was about 40.2698 million shares, which is equivalent to about 90% of the total number of shares offered (before any over-allotment rights are exercised). Futu News has compiled relevant data in the following table: The net proceeds of approximately HK$1.07 billion will be used for the following purposes: about 45% to enhance the company's R&D capabilities; about 25% to enhance commercialization capabilities; about 10% for potential strategic investments and acquisitions; about 10% to enhance internal systems and upgrade the company's information infrastructure; and approximately 10% for working capital and general corporate purposes. Innovation Qizhi is a rapidly growing AI solution provider that develops and provides AI products and solutions for manufacturing, financial services and other industries in China. According to Frost & Sullivan, in 2020, by revenue...
On the industry side, in April 2020, the National Development and Reform Commission clarified the scope of “new infrastructure” for the first time, incorporating artificial intelligence into important layout areas of new infrastructure. Relevant policies have been introduced in many places, aiming to accelerate the implementation of artificial intelligence solutions in the construction of basic information technology throughout the country.
The size of China's artificial intelligence market reached 185.8 billion yuan in 2020, is expected to reach 1045.7 billion yuan in 2025, and the compound growth rate from 2020 to 2025 will reach 41.3%.
Futu News, January 26, this Wednesday$AINNOVATION (02121.HK)$The announcement announced that the company will issue 44.7444 million shares, priced at HK$26.3 per share, and 100 shares per lot. It is expected to go public on January 27. At the public sale stage, Innovation Qizhi received about 13.89 times more subscriptions. The final number of shares on sale distributed to the public sale was 4.474,600 shares, accounting for about 10% of the total number of shares offered (before any over-allotment rights were exercised). A total of 3,3123 valid applications were received, with a first-hand winning rate of 15%, and a steady first-hand purchase of 15 lots. Furthermore, the international offering has already received a small amount of oversubscription (about 2.62 times), and the final number of shares offered was about 40.2698 million shares, which is equivalent to about 90% of the total number of shares offered (before any over-allotment rights are exercised). Futu News has compiled relevant data in the following table: The net proceeds of approximately HK$1.07 billion will be used for the following purposes: about 45% to enhance the company's R&D capabilities; about 25% to enhance commercialization capabilities; about 10% for potential strategic investments and acquisitions; about 10% to enhance internal systems and upgrade the company's information infrastructure; and approximately 10% for working capital and general corporate purposes. Innovation Qizhi is a rapidly growing AI solution provider that develops and provides AI products and solutions for manufacturing, financial services and other industries in China. According to Frost & Sullivan, in 2020, by revenue...
The market size of artificial intelligence solutions for China's manufacturing industry reached RMB 9.1 billion in 2020. The compound growth rate is expected to be 48.3% from 2020 to 2025, and reach RMB 64.9 billion in 2025.
Futu News, January 26, this Wednesday$AINNOVATION (02121.HK)$The announcement announced that the company will issue 44.7444 million shares, priced at HK$26.3 per share, and 100 shares per lot. It is expected to go public on January 27. At the public sale stage, Innovation Qizhi received about 13.89 times more subscriptions. The final number of shares on sale distributed to the public sale was 4.474,600 shares, accounting for about 10% of the total number of shares offered (before any over-allotment rights were exercised). A total of 3,3123 valid applications were received, with a first-hand winning rate of 15%, and a steady first-hand purchase of 15 lots. Furthermore, the international offering has already received a small amount of oversubscription (about 2.62 times), and the final number of shares offered was about 40.2698 million shares, which is equivalent to about 90% of the total number of shares offered (before any over-allotment rights are exercised). Futu News has compiled relevant data in the following table: The net proceeds of approximately HK$1.07 billion will be used for the following purposes: about 45% to enhance the company's R&D capabilities; about 25% to enhance commercialization capabilities; about 10% for potential strategic investments and acquisitions; about 10% to enhance internal systems and upgrade the company's information infrastructure; and approximately 10% for working capital and general corporate purposes. Innovation Qizhi is a rapidly growing AI solution provider that develops and provides AI products and solutions for manufacturing, financial services and other industries in China. According to Frost & Sullivan, in 2020, by revenue...
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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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