IPO Pricing | Lingyi Intelligent Manufacturing listed today, received 96.16x subscription, priced at HK$10.18 per share, with grey market gains exceeding HK$1,400 per lot.

Futu News, June 26: $LINGYI ITECH (01688.HK)$ The allotment results have been announced: priced at HK$10.18 per share, a total of 812 million shares issued, with each board lot consisting of 660 shares. The shares officially listed today.

On the previous trading day, Lingyi Intelligent Manufacturing's grey market closed up 21.32% at HK$12.35 per share. With each board lot comprising 660 shares, investors made HK$1,432.20 per lot excluding fees.

During the public offering stage, Lingyi Intelligent Manufacturing received 96.16x subscription. The final number of shares allocated to the public offering was 81.1813 million shares, accounting for approximately 10% of the total offering. Approximately 162,800 valid applications were received in total, with about 33,279 applications processed. The approximate percentage of applicants who applied for one lot and were successfully allotted shares relative to the total number of shares applied for was 1.23%.

Additionally, during the international offering phase, Lingyi Intelligent Manufacturing received 10.27 times subscription, resulting in a final international offering size of 731 million shares, representing 90% of the total number of shares offered. Futu News has compiled the relevant data in the table below:

Company Overview

Lingyi Intelligent Manufacturing is a leading high-precision intelligent manufacturing platform for electronic devices, providing global customers with one-stop manufacturing services and solutions. Leveraging continuous technological advancement and AI-integrated manufacturing capabilities, the company offers a comprehensive product portfolio encompassing core materials, high-precision functional components, modules, and premium assembly services. Guided by its core operational principles of lean production, data-driven operations, automation, and sustainability, the company empowers diverse end markets, including AI-enabled devices, robotics, enterprise-grade commercial servers, automotive applications, and the low-altitude economy.

Positioning itself as the 'long-term manufacturing partner behind industry giants,' Lingyi Intelligent Manufacturing has built a production system characterized by 'large scale, high standards, and high complexity.' Supported by cross-functional collaborative R&D, rapid response capabilities, and a globally distributed network of R&D and manufacturing facilities, the company has become an integral part of the electronic device ecosystem and has received multiple supply chain awards from leading global clients. Key business highlights include:

Source: Prospectus

Financial Summary

During the historical reporting period, Lingyi Intelligent Manufacturing’s revenue amounted to RMB 34,154.0 million in 2023, RMB 44,259.5 million in 2024, and RMB 51,428.9 million in 2025. The company’s profit for the year was RMB 2,013.9 million in 2023, RMB 1,760.7 million in 2024, and RMB 2,326.8 million in 2025.

In 2023, 2024, and 2025, the company's gross profit was RMB 63,935 million, RMB 63,931 million, and RMB 78,184 million, respectively, with corresponding gross profit margins of 18.7%, 14.4%, and 15.2%.

Source: Prospectus

Use of Proceeds

Regarding the use of proceeds, Lingyi Intelligent Manufacturing expects net proceeds from the global offering to amount to approximately HK$8.152 billion (based on an offer price of HK$10.18 per share). According to the prospectus, Lingyi Intelligent Manufacturing intends to allocate the proceeds from the global offering for the following purposes:

Approximately 37.6% will be used to further enhance the company's production capacity and upgrade core manufacturing processes through equipment investments; approximately 11.9% will be allocated to further strengthen the company's core R&D capabilities and technological innovation infrastructure; approximately 30% will be dedicated to strategic investments and acquisitions to support industry resource integration; approximately 10.5% will be used to expand the company's domestic and overseas production infrastructure; and approximately 10% will be allocated for working capital and general corporate purposes.

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Editor/Joe

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