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joined discussion · Jul 10 07:40

IPO Pricing | JH Integrated goes public today, receiving over 344 times subscription and priced at the top end of the range at HK$32.3 per share

Futu News, July 10: $NEXCHIP (02249.HK)$ announced its allotment results, with shares priced at HK$32.3 each. A total of 216 million shares were issued, in board lots of 100 shares each, and the stock officially debuted on the market today.
In the previous trading session, JHICC's grey-market shares closed up 9.85% at HK$35.48. With a board lot size of 100 shares and excluding fees, each lot generated a profit of HK$318.
During the public offering phase, JHICC received 344.26 times subscription coverage. The final number of shares allocated to the public offering was 21.6167 million shares, representing approximately 10% of the total offering. A total of approximately 195,500 valid applications were received, with about 84,096 applications processed. The percentage of applicants who received one lot relative to the total number of applied lots was approximately 8%.
Additionally, during the international placement phase, JHICC received 14.62 times subscription coverage. The final number of shares allocated to the international offering was 195 million shares, equivalent to 90% of the total offering. Futu compiled the relevant data in the table below:
Futu News, July 10: $NEXCHIP (02249.HK)$ announced its allotment results, with shares priced at HK$32.3 each. A total of 216 million shares were issued, in board lots of 100 shares each, and the stock officially debuted on the market today. On the previous trading day, JH Integrated's shares rose 9.85% in the grey market, closing at HK$35.48. With a board lot size of 100 shares, investors made a profit of HK$318 per lot, excluding fees. During the public offering phase, JH Integrated received 344.26 times subscription. The final number of shares allocated to the public offering was 21,616,700 shares, accounting for approximately 10% of the total offering. Approximately 195,500 valid applications were received, with around 84,096 applications processed. The estimated percentage of applicants who received one board lot out of their total applied shares was about 8%. Additionally, during the international placement phase, JH Integrated received 14.62 times subscription. The final number of shares allocated to international investors was 195 million shares, representing 90% of the total offering. Futu News has compiled the relevant data in the table below: Company Overview JHICC is a leading pure-play 12-inch wafer foundry operating at a critical node in the global semiconductor value chain. As a professional wafer foundry service provider, it mass-produces high-quality processed wafers based on integrated circuit designs from fabless, fab-lite, and integrated device manufacturer (IDM) companies. JH Integrated’s ability to combine differentiated process technologies with stable manufacturing scale strengthens the company's position globally...
Futu News, July 10: $NEXCHIP (02249.HK)$ announced its allotment results, with shares priced at HK$32.3 each. A total of 216 million shares were issued, in board lots of 100 shares each, and the stock officially debuted on the market today. On the previous trading day, JH Integrated's shares rose 9.85% in the grey market, closing at HK$35.48. With a board lot size of 100 shares, investors made a profit of HK$318 per lot, excluding fees. During the public offering phase, JH Integrated received 344.26 times subscription. The final number of shares allocated to the public offering was 21,616,700 shares, accounting for approximately 10% of the total offering. Approximately 195,500 valid applications were received, with around 84,096 applications processed. The estimated percentage of applicants who received one board lot out of their total applied shares was about 8%. Additionally, during the international placement phase, JH Integrated received 14.62 times subscription. The final number of shares allocated to international investors was 195 million shares, representing 90% of the total offering. Futu News has compiled the relevant data in the table below: Company Overview JHICC is a leading pure-play 12-inch wafer foundry operating at a critical node in the global semiconductor value chain. As a professional wafer foundry service provider, it mass-produces high-quality processed wafers based on integrated circuit designs from fabless, fab-lite, and integrated device manufacturer (IDM) companies. JH Integrated’s ability to combine differentiated process technologies with stable manufacturing scale strengthens the company's position globally...
Company Overview
JHICC is a leading pure-play 12-inch wafer foundry operating at a critical node in the global semiconductor value chain. As a professional wafer foundry service provider, it mass-produces high-quality processed wafers based on integrated circuit designs from fabless, fab-lite, and integrated device manufacturer (IDM) companies.
NEXCHIP’s ability to combine differentiated process technologies with stable manufacturing scale has solidified its position in the global wafer foundry industry. According to Frost & Sullivan, between 2020 and 2025, among the world’s top ten wafer foundries, NEXCHIP achieved the fastest growth globally in both capacity and revenue. Based on the same source, in 2025, the company ranked as the world’s ninth-largest and China’s third-largest wafer foundry by revenue.
Financial Summary
In 2023, 2024, and 2025, NEXCHIP’s total revenue amounted to RMB 7,182.7 million, RMB 9,119.6 million, and RMB 10,388.3 million, respectively, with gross profit margins of 20.3%, 25.2%, and 22.7% for the corresponding years. Net profit for 2023, 2024, and 2025 was RMB 119.2 million, RMB 482.2 million, and RMB 466.5 million, respectively, with corresponding net profit margins of 1.7%, 5.3%, and 4.5%.
Source: Prospectus
Source: Prospectus
Use of Proceeds
Regarding the use of proceeds, JHICC’s global offering is expected to generate net proceeds of approximately HK$6.779 billion (based on an issue price of HK$32.30 per share). According to the prospectus, JHICC intends to allocate the proceeds from the global offering to the following purposes:
Approximately 53.6% will be used for research and development and optimization of its next-generation 22nm technology platform; approximately 23.1% will be allocated to AI-driven intelligent R&D and production; approximately 13.3% will be used to establish an R&D and sales center in Hong Kong; and approximately 10% will be used for working capital and general corporate purposes.
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Futu News, July 10: $NEXCHIP (02249.HK)$ announced its allotment results, with shares priced at HK$32.3 each. A total of 216 million shares were issued, in board lots of 100 shares each, and the stock officially debuted on the market today. On the previous trading day, JH Integrated's shares rose 9.85% in the grey market, closing at HK$35.48. With a board lot size of 100 shares, investors made a profit of HK$318 per lot, excluding fees. During the public offering phase, JH Integrated received 344.26 times subscription. The final number of shares allocated to the public offering was 21,616,700 shares, accounting for approximately 10% of the total offering. Approximately 195,500 valid applications were received, with around 84,096 applications processed. The estimated percentage of applicants who received one board lot out of their total applied shares was about 8%. Additionally, during the international placement phase, JH Integrated received 14.62 times subscription. The final number of shares allocated to international investors was 195 million shares, representing 90% of the total offering. Futu News has compiled the relevant data in the table below: Company Overview JHICC is a leading pure-play 12-inch wafer foundry operating at a critical node in the global semiconductor value chain. As a professional wafer foundry service provider, it mass-produces high-quality processed wafers based on integrated circuit designs from fabless, fab-lite, and integrated device manufacturer (IDM) companies. JH Integrated’s ability to combine differentiated process technologies with stable manufacturing scale strengthens the company's position globally...
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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