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2026 IPO bonanza! Over 90% of new stocks rose on their debut
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joined discussion · Feb 4 07:45

IPO Pricing | Guoen Technology goes public today, with over 2250 times subscription, priced at HKD 36 per share, gaining HKD 2600 per lot in the grey market

Futu Information reported on February 4th, $GON TECHNOLOGY (02768.HK)$ Announced the allocation results, priced at HKD 36 per share, issuing a total of 30 million shares, with each lot consisting of 200 shares, officially listed today.
In the last trading session, Gotion Tech's dark pool closed 36.11% higher at HKD 49 per share. Each lot consists of 200 shares. Excluding handling fees, one lot generated a profit of HKD 2,600.
During the public offering phase, Gotion Tech received subscriptions amounting to 2,251.85 times the available shares. The final number of shares offered to the public was 3 million, accounting for approximately 10% of the total shares issued. A total of about 171,000 valid applications were received, with around 14,819 processed applications. The percentage of shares allocated to one-lot subscribers relative to the total shares applied for was approximately 2%.
Additionally, during the international placement phase, Gotion Tech received subscriptions amounting to 10.03 times the available shares. The final number of shares in the international offering was 27 million, representing 90% of the total shares issued. Futu Information has compiled the relevant data in the table below.
Futu Information reported on February 4th, $GON TECHNOLOGY (02768.HK)$ Announced the allocation results, priced at HKD 36 per share, issuing a total of 30 million shares, with each lot consisting of 200 shares, officially listed today. On the previous trading day, Guoen Technology's grey market closed up 36.11%, at HKD 49, with each lot consisting of 200 shares, earning a profit of HKD 2600 per lot without considering handling fees. During the public offering phase, Guoen Technology received 2251.85 times subscription. The final number of shares offered to the public was 3 million shares, accounting for approximately 10% of the total shares offered. A total of approximately 171,000 valid applications were received, with about 14,819 applications processed. The percentage of shares allocated per lot relative to the total applied-for shares was approximately 2%. In addition, during the international placement phase, Guoen Technology received 10.03 times subscription. The final number of shares placed internationally was 27 million shares, equivalent to 90% of the total shares offered. Futu Information has compiled relevant data in the following table: Company Overview The company is a Chinese supplier focusing on chemical new materials and gelatin, collagen upstream and downstream products. It serves the chemical industry and the broader health industry, mainly engaging in the research, production, and sales of industrial and commercial use products. In terms of the company’s large chemical segment, its customers include manufacturers from downstream industries (such as automotive, new energy, and home appliances) and supply chain solution providers for downstream manufacturers. Regarding the company’s broader health sector...
Futu Information reported on February 4th, $GON TECHNOLOGY (02768.HK)$ Announced the allocation results, priced at HKD 36 per share, issuing a total of 30 million shares, with each lot consisting of 200 shares, officially listed today. On the previous trading day, Guoen Technology's grey market closed up 36.11%, at HKD 49, with each lot consisting of 200 shares, earning a profit of HKD 2600 per lot without considering handling fees. During the public offering phase, Guoen Technology received 2251.85 times subscription. The final number of shares offered to the public was 3 million shares, accounting for approximately 10% of the total shares offered. A total of approximately 171,000 valid applications were received, with about 14,819 applications processed. The percentage of shares allocated per lot relative to the total applied-for shares was approximately 2%. In addition, during the international placement phase, Guoen Technology received 10.03 times subscription. The final number of shares placed internationally was 27 million shares, equivalent to 90% of the total shares offered. Futu Information has compiled relevant data in the following table: Company Overview The company is a Chinese supplier focusing on chemical new materials and gelatin, collagen upstream and downstream products. It serves the chemical industry and the broader health industry, mainly engaging in the research, production, and sales of industrial and commercial use products. In terms of the company’s large chemical segment, its customers include manufacturers from downstream industries (such as automotive, new energy, and home appliances) and supply chain solution providers for downstream manufacturers. Regarding the company’s broader health sector...
Company Overview
The company is a China-based supplier specializing in chemical new materials and upstream and downstream products of gelatin and collagen. It serves the chemical industry and the broader health sector, primarily focusing on the R&D, production, and sales of products for industrial and commercial use. Regarding its large chemical segment, the company's clients include manufacturers in downstream sectors (such as automotive, new energy, and home appliances) and supply chain solution providers for downstream manufacturers. In terms of its broader health business, the company's clients mainly consist of medical and pharmaceutical manufacturers who use its products as raw materials for downstream products such as supplements and medications.
After more than two decades of deep cultivation, the company has established a vertically integrated industrial layout in both the large chemical and healthcare sectors, covering upstream and downstream segments of these industries' value chains. This allows the company to benefit from long-term economies of scale. According to Frost & Sullivan, in 2024, by revenue, the company ranked as the second-largest enterprise in China in the fields of organic polymer modified materials and organic polymer composite materials, with a market share of 2.5%. In terms of China's bone gelatin production volume in 2024, the company ranked second in the domestic market and first among domestic brands.
Financial Overview
The company's revenue increased from RMB 13,406.4 million in the fiscal year 2022 to RMB 17,438.8 million in 2023, and further grew to RMB 19,187.5 million in 2024, reflecting a compound annual growth rate (CAGR) of 19.6%. Revenue for the first ten months of fiscal year 2024 was RMB 15,863.1 million, increasing by 10.0% to RMB 17,443.9 million in the same period of fiscal year 2025.
The company's gross profit rose by 1.3% from RMB 1,580.0 million in fiscal year 2022 to RMB 1,600.8 million in 2023, then decreased by 0.5% to RMB 1,592.2 million in fiscal year 2024. For the first ten months of fiscal year 2024, gross profit increased by 41.2% from RMB 1,282.4 million to RMB 1,811.0 million in the same period of fiscal year 2025.
Futu Information reported on February 4th, $GON TECHNOLOGY (02768.HK)$ Announced the allocation results, priced at HKD 36 per share, issuing a total of 30 million shares, with each lot consisting of 200 shares, officially listed today. On the previous trading day, Guoen Technology's grey market closed up 36.11%, at HKD 49, with each lot consisting of 200 shares, earning a profit of HKD 2600 per lot without considering handling fees. During the public offering phase, Guoen Technology received 2251.85 times subscription. The final number of shares offered to the public was 3 million shares, accounting for approximately 10% of the total shares offered. A total of approximately 171,000 valid applications were received, with about 14,819 applications processed. The percentage of shares allocated per lot relative to the total applied-for shares was approximately 2%. In addition, during the international placement phase, Guoen Technology received 10.03 times subscription. The final number of shares placed internationally was 27 million shares, equivalent to 90% of the total shares offered. Futu Information has compiled relevant data in the following table: Company Overview The company is a Chinese supplier focusing on chemical new materials and gelatin, collagen upstream and downstream products. It serves the chemical industry and the broader health industry, mainly engaging in the research, production, and sales of industrial and commercial use products. In terms of the company’s large chemical segment, its customers include manufacturers from downstream industries (such as automotive, new energy, and home appliances) and supply chain solution providers for downstream manufacturers. Regarding the company’s broader health sector...
Use of Proceeds
Regarding the use of proceeds, Gotion Tech expects to raise approximately HKD 1 billion in net proceeds from the global offering (based on an offer price of HKD 36). According to the prospectus, Gotion Tech plans to allocate the proceeds raised from the global offering as follows:
Approximately 50.0% will be allocated to expand the capacity of the company’s new production base in Thailand, named 'Thailand Production Base.' About 35.0% will go toward expanding the capacity of the company’s new production base in China, named 'Yixing Production Base.' Approximately 10.0% will be allocated for the company's investments in Hong Kong, including establishing a regional headquarters and upgrading production facilities. Around 5.0% will be used for working capital and general corporate purposes.
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Futu Information reported on February 4th, $GON TECHNOLOGY (02768.HK)$ Announced the allocation results, priced at HKD 36 per share, issuing a total of 30 million shares, with each lot consisting of 200 shares, officially listed today. On the previous trading day, Guoen Technology's grey market closed up 36.11%, at HKD 49, with each lot consisting of 200 shares, earning a profit of HKD 2600 per lot without considering handling fees. During the public offering phase, Guoen Technology received 2251.85 times subscription. The final number of shares offered to the public was 3 million shares, accounting for approximately 10% of the total shares offered. A total of approximately 171,000 valid applications were received, with about 14,819 applications processed. The percentage of shares allocated per lot relative to the total applied-for shares was approximately 2%. In addition, during the international placement phase, Guoen Technology received 10.03 times subscription. The final number of shares placed internationally was 27 million shares, equivalent to 90% of the total shares offered. Futu Information has compiled relevant data in the following table: Company Overview The company is a Chinese supplier focusing on chemical new materials and gelatin, collagen upstream and downstream products. It serves the chemical industry and the broader health industry, mainly engaging in the research, production, and sales of industrial and commercial use products. In terms of the company’s large chemical segment, its customers include manufacturers from downstream industries (such as automotive, new energy, and home appliances) and supply chain solution providers for downstream manufacturers. Regarding the company’s broader health sector...
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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