IPO News | "AI Infrastructure Software Provider" Transwarp Technologies launches book building, plans to list on September 21, with a minimum lot subscription amount of HKD 6,161.51

Futu News, September 11:$TRANSWARP (06727.HK)$Announced that book building will take place from September 11 to September 16. The company plans a global offering of approximately 14.0108 million shares and is expected to list on September 21.

Company Overview

The company is a leading AI infrastructure software provider in China. It primarily generates revenue by selling AI and big data infrastructure software products and related services to enterprise and government clients. By deeply integrating artificial intelligence, big data, and cloud technologies, the company helps enterprises efficiently build AI infrastructure software, driving intelligent transformation and business model innovation across various industries. In the current environment, with exponential data growth, increasing risks of technical bottlenecks, and urgent demand for enterprise-level digital and intelligent upgrades, building secure, high-performance, independently developed AI and big data infrastructure software has become a strategic imperative at the national, industrial, and corporate levels. The company was founded to meet this need, establishing secure and autonomous data infrastructure for technological innovation.

The company is one of the first in China to focus on the R&D of AI and big data infrastructure software, having established significant first-mover advantages and strong technical capabilities. The company provides enterprise-grade AI infrastructure software and services covering the entire data lifecycle, including data integration, storage, governance, modeling, analysis, mining, and circulation.

Financial Overview

In 2023, 2024, and 2025, and for the three months ended March 31, 2026, the Company recorded revenues of RMB 490.5 million, RMB 370.8 million, RMB 447.1 million, and RMB 81.2 million, respectively. The Company's gross profit decreased by 30.4% from RMB 256.7 million in 2023 to RMB 178.7 million in 2024. In 2025, the Company's gross profit increased by 32.0% from RMB 178.7 million to RMB 236.0 million, consistent with the revenue growth trend in 2025.

Use of Proceeds

Regarding the use of proceeds, Transwarp Technology expects the net proceeds from the global offering to be approximately HK$700 million (calculated based on the mid-point of the offer price of HK$55, assuming the over-allotment option is not exercised). According to the prospectus, Transwarp Technology intends to use the funds raised from the global offering for the following purposes:

Approximately 30.0% of the net proceeds are expected to be used to enhance and optimize the Company's R&D and innovation capabilities across its entire product and solution stack, driving full-chain technological upgrades through "AI x Data". Approximately 20.0% of the net proceeds are expected to be used to upgrade and expand the Company's product and solution stack, focusing mainly on the commercialization, iterative enhancement, and market-specific adaptation of existing products and solutions. Approximately 15.0% of the net proceeds are expected to be used to strengthen sales channels and team building in key markets in China and overseas. Approximately 5.0% of the net proceeds are expected to be used to enhance the Company's commercialization capabilities and brand influence. Approximately 20.0% of the net proceeds are expected to be used for strategic investments. Approximately 10.0% of the net proceeds are expected to be used as working capital and for other general corporate purposes.

Further reading:Transwarp Technology IPO Prospectus book

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Edited by Vincent

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