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2026 IPO bonanza! Over 90% of new stocks rose on their debut!
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joined discussion · Mar 24 07:44

IPO Pricing | Zejing Co. begins trading today, with over 68 times subscription, priced at HKD 44.2 per share, and a 30% allocation rate for one lot

Futu Information reported on March 24,$NEW VISION CO (02632.HK)$Announced the allotment results: priced at HKD 44.2 per share, issuing a total of 16,226,500 shares, with each lot consisting of 50 shares, officially listed today
In the last trading session, Zejing Co.'s grey market closed up 12.67%, at HKD 49.8, with a total market capitalization of HKD 6.145 billion
During the public offering phase, Zejing Co. received 68.89 times subscription. The final number of shares offered to the public was 1,622,600, accounting for approximately 10% of the total offering. A total of about 31,183 valid applications were received, with about 14,843 accepted applications, and the approximate percentage of allocated shares for one lot was 30%
In addition, Zijing Co. received 1.34 times subscription during the international placement phase, with the final number of international placement shares amounting to 14,603,800 shares, accounting for 90% of the total offered shares. Futu Information has compiled the relevant data in the table below:
Futu Information reported on March 24,$NEW VISION CO (02632.HK)$Announced the allotment results: priced at HKD 44.2 per share, issuing a total of 16,226,500 shares, with each lot consisting of 50 shares, officially listed today In the last trading session, Zejing Co.'s grey market closed up 12.67%, at HKD 49.8, with a total market capitalization of HKD 6.145 billion During the public offering phase, Zejing Co. received 68.89 times subscription. The final number of shares offered to the public was 1,622,600, accounting for approximately 10% of the total offering. A total of about 31,183 valid applications were received, with about 14,843 accepted applications, and the approximate percentage of allocated shares for one lot was 30% Additionally, during the international placement phase, Zejing Co. received 1.34 times subscription. The final number of shares in the international offering was 14,603,800, equivalent to 90% of the total offering. Futu Information compiled the relevant data in the table below Company Overview Zejing Co. focuses on HUD solutions. During the record period, Zejing Co. mainly provided integrated solutions centered on its windshield HUD (referred to as 'W-HUD') solution CyberLens and its augmented reality HUD (referred to as 'AR-HUD') solution CyberVision, supplemented by testing solutions and other innovative visual technology solutions. The company defined its solutions...
Futu Information reported on March 24,$NEW VISION CO (02632.HK)$Announced the allotment results: priced at HKD 44.2 per share, issuing a total of 16,226,500 shares, with each lot consisting of 50 shares, officially listed today In the last trading session, Zejing Co.'s grey market closed up 12.67%, at HKD 49.8, with a total market capitalization of HKD 6.145 billion During the public offering phase, Zejing Co. received 68.89 times subscription. The final number of shares offered to the public was 1,622,600, accounting for approximately 10% of the total offering. A total of about 31,183 valid applications were received, with about 14,843 accepted applications, and the approximate percentage of allocated shares for one lot was 30% Additionally, during the international placement phase, Zejing Co. received 1.34 times subscription. The final number of shares in the international offering was 14,603,800, equivalent to 90% of the total offering. Futu Information compiled the relevant data in the table below Company Overview Zejing Co. focuses on HUD solutions. During the record period, Zejing Co. mainly provided integrated solutions centered on its windshield HUD (referred to as 'W-HUD') solution CyberLens and its augmented reality HUD (referred to as 'AR-HUD') solution CyberVision, supplemented by testing solutions and other innovative visual technology solutions. The company defined its solutions...
Futu Information reported on March 24,$NEW VISION CO (02632.HK)$Announced the allotment results: priced at HKD 44.2 per share, issuing a total of 16,226,500 shares, with each lot consisting of 50 shares, officially listed today In the last trading session, Zejing Co.'s grey market closed up 12.67%, at HKD 49.8, with a total market capitalization of HKD 6.145 billion During the public offering phase, Zejing Co. received 68.89 times subscription. The final number of shares offered to the public was 1,622,600, accounting for approximately 10% of the total offering. A total of about 31,183 valid applications were received, with about 14,843 accepted applications, and the approximate percentage of allocated shares for one lot was 30% Additionally, during the international placement phase, Zejing Co. received 1.34 times subscription. The final number of shares in the international offering was 14,603,800, equivalent to 90% of the total offering. Futu Information compiled the relevant data in the table below Company Overview Zejing Co. focuses on HUD solutions. During the record period, Zejing Co. mainly provided integrated solutions centered on its windshield HUD (referred to as 'W-HUD') solution CyberLens and its augmented reality HUD (referred to as 'AR-HUD') solution CyberVision, supplemented by testing solutions and other innovative visual technology solutions. The company defined its solutions...
Company Overview
Zejing Corporation specializes in HUD solutions. During the performance record period, Zejing Corporation primarily offered an integrated solution centered around its windshield HUD (referred to as 'W-HUD') solution CyberLens and its augmented reality HUD (referred to as 'AR-HUD') solution CyberVision, supplemented by testing solutions and other innovative visual technology solutions. The company collaborates deeply with automakers during the solution definition phase to co-create new models with enhanced human-vehicle interaction and intelligent driving experiences.
With a platform-based R&D capability, the company's unified full-process self-developed technical architecture enables it to efficiently complete the development and design of HUD solutions without needing to start from scratch for each project. Zejing Corporation adopts a software-hardware integrated approach to construct its full-stack self-developed R&D framework, integrating optical design, mechanical engineering, electronic design, software algorithms, and human-machine interface (HMI), which has been rigorously tested and validated, covering the core competencies of HUD solutions, and possessing a unique ability to create sustainable market differentiation.
Financial Overview
In 2022, 2023, and 2024, Zenjing Co.'s revenue reached RMB 214.1 million, RMB 549.4 million, and RMB 577.6 million respectively. During the same periods, the company recorded annual losses of RMB 256.1 million, RMB 174.6 million, and RMB 137.9 million respectively. Meanwhile, the company’s R&D expenditures were RMB 83.4 million, RMB 54.5 million, and RMB 62.1 million respectively, accounting for 39.0%, 9.9%, and 10.7% of the corresponding revenues.
Futu Information reported on March 24,$NEW VISION CO (02632.HK)$Announced the allotment results: priced at HKD 44.2 per share, issuing a total of 16,226,500 shares, with each lot consisting of 50 shares, officially listed today In the last trading session, Zejing Co.'s grey market closed up 12.67%, at HKD 49.8, with a total market capitalization of HKD 6.145 billion During the public offering phase, Zejing Co. received 68.89 times subscription. The final number of shares offered to the public was 1,622,600, accounting for approximately 10% of the total offering. A total of about 31,183 valid applications were received, with about 14,843 accepted applications, and the approximate percentage of allocated shares for one lot was 30% Additionally, during the international placement phase, Zejing Co. received 1.34 times subscription. The final number of shares in the international offering was 14,603,800, equivalent to 90% of the total offering. Futu Information compiled the relevant data in the table below Company Overview Zejing Co. focuses on HUD solutions. During the record period, Zejing Co. mainly provided integrated solutions centered on its windshield HUD (referred to as 'W-HUD') solution CyberLens and its augmented reality HUD (referred to as 'AR-HUD') solution CyberVision, supplemented by testing solutions and other innovative visual technology solutions. The company defined its solutions...
Use of Proceeds
Regarding the use of proceeds, Zijing Co. is expected to receive net proceeds of approximately HKD 662 million from the global offering (based on an offer price of HKD 44.2). According to the prospectus, Zijing Co. intends to allocate the proceeds from the global offering for the following purposes in the amounts specified:
Approximately 46.7% will be used for production line expansion and automation and intelligent upgrades; around 32.4% will be allocated to enhancing the company’s R&D and technological capabilities, as well as upgrading existing solutions and developing new products based on related technologies; about 10.9% will be used for potential strategic cooperation with industry value chain participants specializing in areas such as optical imaging, near-eye displays, and wearable products, aiming to consolidate and enhance the company’s leading market position and technical capabilities; roughly 10% will be used for working capital and general corporate purposes.
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Futu Information reported on March 24,$NEW VISION CO (02632.HK)$Announced the allotment results: priced at HKD 44.2 per share, issuing a total of 16,226,500 shares, with each lot consisting of 50 shares, officially listed today In the last trading session, Zejing Co.'s grey market closed up 12.67%, at HKD 49.8, with a total market capitalization of HKD 6.145 billion During the public offering phase, Zejing Co. received 68.89 times subscription. The final number of shares offered to the public was 1,622,600, accounting for approximately 10% of the total offering. A total of about 31,183 valid applications were received, with about 14,843 accepted applications, and the approximate percentage of allocated shares for one lot was 30% Additionally, during the international placement phase, Zejing Co. received 1.34 times subscription. The final number of shares in the international offering was 14,603,800, equivalent to 90% of the total offering. Futu Information compiled the relevant data in the table below Company Overview Zejing Co. focuses on HUD solutions. During the record period, Zejing Co. mainly provided integrated solutions centered on its windshield HUD (referred to as 'W-HUD') solution CyberLens and its augmented reality HUD (referred to as 'AR-HUD') solution CyberVision, supplemented by testing solutions and other innovative visual technology solutions. The company defined its solutions...
Editor/Vincent
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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