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joined discussion · Mar 31 08:10

IPO Pricing | Tong Master debuts today with nearly 60 times subscription, priced at HKD 60 per share, with a 2.78% chance of receiving an allocation for one lot

Futu News reported on March 31st, $TONGSHIFU (00664.HK)$Announced the allocation results, priced at HKD 60 per share, issuing a total of 7.4068 million shares, with each lot consisting of 100 shares, officially listed today.
During the public offering phase, Tong Master received 59.55 times subscription, with the final number of shares offered to the public amounting to 1.111 million, accounting for approximately 15% of the total shares offered. A total of approximately 26,280 valid applications were received, with about 3,004 applications processed, and the approximate percentage of allocated shares for one-lot subscriptions compared to the total applied shares is 2.78%.
Additionally, during the international placement phase, Tong Master received 1.56 times subscription, with the final number of internationally placed shares amounting to 6.6661 million, equivalent to 85% of the total shares offered. Futu Information has compiled the relevant data in the table below:
Futu News reported on March 31st, $TONGSHIFU (00664.HK)$Announced the allocation results, priced at HKD 60 per share, issuing a total of 7.4068 million shares, with each lot consisting of 100 shares, officially listed today. During the public offering phase, Tong Master received 59.55 times subscription, with the final number of shares offered to the public amounting to 1.111 million, accounting for approximately 15% of the total shares offered. A total of approximately 26,280 valid applications were received, with about 3,004 applications processed, and the approximate percentage of allocated shares for one-lot subscriptions compared to the total applied shares is 2.78%. Additionally, during the international placement phase, Tong Master received 1.56 times subscription, with the final number of internationally placed shares amounting to 6.6661 million, equivalent to 85% of the total shares offered. Futu Information has compiled the relevant data in the table below: Company Overview Since its establishment, Tong Master has focused on combining traditional craftsmanship with modern design and usage scenarios to develop copper cultural products. According to the Frost & Sullivan report, for the fiscal year ended December 31, 2024, the company ranked first in China's copper crafts cultural product market by total revenue, capturing a 35.0% market share. The Tong Master brand originated from a workshop that inherited traditional Chinese craftsmanship and has now become a leading national cultural brand. Through continuous investment in original design, research, and development, the company has expanded its material scope to include gold, silver, and plastic to reach a broader audience. 公司采...
Futu News reported on March 31st, $TONGSHIFU (00664.HK)$Announced the allocation results, priced at HKD 60 per share, issuing a total of 7.4068 million shares, with each lot consisting of 100 shares, officially listed today. During the public offering phase, Tong Master received 59.55 times subscription, with the final number of shares offered to the public amounting to 1.111 million, accounting for approximately 15% of the total shares offered. A total of approximately 26,280 valid applications were received, with about 3,004 applications processed, and the approximate percentage of allocated shares for one-lot subscriptions compared to the total applied shares is 2.78%. Additionally, during the international placement phase, Tong Master received 1.56 times subscription, with the final number of internationally placed shares amounting to 6.6661 million, equivalent to 85% of the total shares offered. Futu Information has compiled the relevant data in the table below: Company Overview Since its establishment, Tong Master has focused on combining traditional craftsmanship with modern design and usage scenarios to develop copper cultural products. According to the Frost & Sullivan report, for the fiscal year ended December 31, 2024, the company ranked first in China's copper crafts cultural product market by total revenue, capturing a 35.0% market share. The Tong Master brand originated from a workshop that inherited traditional Chinese craftsmanship and has now become a leading national cultural brand. Through continuous investment in original design, research, and development, the company has expanded its material scope to include gold, silver, and plastic to reach a broader audience. 公司采...
Company Overview
Since its establishment, Tong Master has focused on combining traditional craftsmanship with modern design and usage scenarios to develop copper cultural products. According to the Frost & Sullivan report, for the fiscal year ended December 31, 2024, the company ranked first in China's copper crafts cultural product market by total revenue, capturing a 35.0% market share. The Tong Master brand originated from a workshop that inherited traditional Chinese craftsmanship and has now become a leading national cultural brand. Through continuous investment in original design, research, and development, the company has expanded its material scope to include gold, silver, and plastic to reach a broader audience.
The company adopts a product and pricing strategy aimed at providing high-quality cultural products to a wide consumer base. It carefully balances material quality, production complexity, and design sophistication to ensure each product reflects a high perceived value. The company’s pricing takes into account material selection, production complexity, and design characteristics. Products made from copper, silver, and other materials are developed according to consistent production standards. Through a multi-tiered pricing structure, the company successfully caters to a broad range of consumers, including first-time buyers, repeat customers, and long-term collectors.
Financial Overview
For the fiscal years ended December 31, 2022, 2023, and 2024, as well as for the nine months ended September 30, 2024, and 2025, Tong Master reported revenues of RMB 503.2 million, RMB 506.4 million, RMB 571.2 million, RMB 402.4 million, and RMB 447.7 million, respectively.
The company’s gross profit increased by 1.2%, from RMB 162.2 million for the fiscal year ended December 31, 2022, to RMB 164.2 million for the fiscal year ended December 31, 2023, while the gross margin remained stable at 32.2% and 32.4%, respectively. From RMB 164.2 million for the fiscal year ended December 31, 2023, it increased by 23.1% to RMB 202.1 million for the fiscal year ended December 31, 2024, and the gross margin rose from 32.4% in 2023 to 35.4% in 2024.
Futu News reported on March 31st, $TONGSHIFU (00664.HK)$Announced the allocation results, priced at HKD 60 per share, issuing a total of 7.4068 million shares, with each lot consisting of 100 shares, officially listed today. During the public offering phase, Tong Master received 59.55 times subscription, with the final number of shares offered to the public amounting to 1.111 million, accounting for approximately 15% of the total shares offered. A total of approximately 26,280 valid applications were received, with about 3,004 applications processed, and the approximate percentage of allocated shares for one-lot subscriptions compared to the total applied shares is 2.78%. Additionally, during the international placement phase, Tong Master received 1.56 times subscription, with the final number of internationally placed shares amounting to 6.6661 million, equivalent to 85% of the total shares offered. Futu Information has compiled the relevant data in the table below: Company Overview Since its establishment, Tong Master has focused on combining traditional craftsmanship with modern design and usage scenarios to develop copper cultural products. According to the Frost & Sullivan report, for the fiscal year ended December 31, 2024, the company ranked first in China's copper crafts cultural product market by total revenue, capturing a 35.0% market share. The Tong Master brand originated from a workshop that inherited traditional Chinese craftsmanship and has now become a leading national cultural brand. Through continuous investment in original design, research, and development, the company has expanded its material scope to include gold, silver, and plastic to reach a broader audience. 公司采...
Use of Proceeds
In terms of use of proceeds, Tong Master expects to receive net proceeds of approximately HKD 390 million from the global offering (based on the mid-price of HKD 60 per share). According to the prospectus, Tong Master plans to allocate the proceeds from the global offering for the following purposes in the specified amounts:
Approximately 38% will be used to enhance the company’s product development and design capabilities, which are fundamental to its growth strategy; around 24% will be allocated to boost internal production capacity and improve alignment between demand forecasting and manufacturing output, thereby enhancing fulfillment flexibility and supporting long-term product supply; about 24% will go towards expanding and strengthening the company’s retail and marketing infrastructure, with a focus on solidifying its network of directly operated stores in China, accelerating international expansion, and enhancing its digital marketing and content development capabilities; roughly 4% will be dedicated to reinforcing the company’s digital and information infrastructure; and approximately 10% will be reserved for general working capital and operational flexibility.
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Futu News reported on March 31st, $TONGSHIFU (00664.HK)$Announced the allocation results, priced at HKD 60 per share, issuing a total of 7.4068 million shares, with each lot consisting of 100 shares, officially listed today. During the public offering phase, Tong Master received 59.55 times subscription, with the final number of shares offered to the public amounting to 1.111 million, accounting for approximately 15% of the total shares offered. A total of approximately 26,280 valid applications were received, with about 3,004 applications processed, and the approximate percentage of allocated shares for one-lot subscriptions compared to the total applied shares is 2.78%. Additionally, during the international placement phase, Tong Master received 1.56 times subscription, with the final number of internationally placed shares amounting to 6.6661 million, equivalent to 85% of the total shares offered. Futu Information has compiled the relevant data in the table below: Company Overview Since its establishment, Tong Master has focused on combining traditional craftsmanship with modern design and usage scenarios to develop copper cultural products. According to the Frost & Sullivan report, for the fiscal year ended December 31, 2024, the company ranked first in China's copper crafts cultural product market by total revenue, capturing a 35.0% market share. The Tong Master brand originated from a workshop that inherited traditional Chinese craftsmanship and has now become a leading national cultural brand. Through continuous investment in original design, research, and development, the company has expanded its material scope to include gold, silver, and plastic to reach a broader audience. 公司采...
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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