GuShiio.com ① According to incomplete statistics, as of press time, since mid-December last year, 14 A-share listed companies have planned to list in Hong Kong or their spin-off subsidiaries have been listed in Hong Kong (Attached Table);
② Among them, five companies including Ningde Times announced plans to visit Hong Kong and have officially submitted their reports to the Hong Kong Stock Exchange.
Cailian News, March 1 (Editor Ruoyu)Recently, the “A+H” listing model has quietly warmed up. According to incomplete statistics from the Financial Union, as of press time, since mid-December last year,Pioneer Intelligence, Tianyue Advanced, Jing’ao Technology, Hehui Optoelectronics, Sany Heavy Industry, Jiehuate, Zhongwei Co., Ltd., Ningde Times, Gemma, Nanhua Futures, Fengyu Technology, Maiwei Biotech, iFlytek and Jiang BolongAmong them, 14 A-share listed companies are planning to list in Hong Kong or their spin-off subsidiaries are listed in Hong Kong. See the following figure for details:
Specifically, Jingao Technology, Hehui Optoelectronics, Sany Heavy Industry, Jiehuate, Zhongwei, Gemma, Nanhua Futures and Jiang BolongEight A-share listed companies announced plans to issue H-shares。Pioneer Intelligence, Tianyue Advanced, Ningde Times, Fengyu Technology and Maiwei BiotechPlan to issue H shares and submit statement to the Hong Kong Stock Exchange。Also,iFlytek Medical, a subsidiary of iFlytek Holdings, has successfully landed on the Hong Kong Stock Exchange。
The world’s largest provider of lithium battery smart equipmentPioneer Intelligence announced on the evening of February 25 that the company submitted an application for H-share issuance to the Hong Kong Stock Exchange and published the application materials, with CITIC Securities and JPMorgan Chase as joint sponsors。According to previous announcements, Pioneer Intelligence planned to issue Global Depositary Receipts (GDRs) overseas in February 2024 and listed them on the Swiss Stock Exchange. The company plans to raise no more than 1 billion yuan for R & D and manufacturing projects in Germany and Wuxi. howeverIn January this year, Pioneer Intelligence announced that it would terminate the above plan and instead seek to list in Hong Kong.
The prospectus shows that Pioneer Intelligence went to Hong Kong to raise funds this timeIt is intended to expand the global R & D, sales and service network and selectively implement strategic initiatives as an important part of the company’s globalization strategy; Used to deepen the company’s platform strategy and plan to further expand its product portfolio in the field of new energy intelligent equipment; used for the company’s product design and manufacturing processes, and research and development of intelligent equipment technology optimization; used to improve digital infrastructure and improve various business processes. The digitization capabilities of processes to improve operational efficiency, etc. In terms of performance, Pioneer Intelligence announced on January 27 that it expects net profit in 2024 to be 210 million yuan to 310 million yuan, a year-on-year decrease of 82.53% to 88.17%.
Silicon carbide substrate manufacturersTianyue Advanced announced on February 24 that it formally submitted an application to the Hong Kong Stock Exchange to issue overseas listed foreign shares (H shares) and list them on the main board of the Hong Kong Stock Exchange. The co-sponsors are CICC and CITIC Securities。According to its H-share prospectus, the funds raised by Tianyue Advanced’s Hong Kong stock listing will be mainly used for net fundraising.Used to expand production capacity of silicon carbide substrates of 8 inches or larger size, continue to strengthen R & D capabilities, as well as working capital and other general corporate purposes, and provide financial support for the company’s long-term internationalization strategy. In terms of performance, Tianyue Advanced announced on February 23 that its net profit in 2024 will be 180 million yuan, turning a deficit into a profit year-on-year.
According to a report by the Science and Technology Innovation Board Daily on February 25, advanced people from Tianyue told reporters,”In recent years, Tianyue Advanced has continuously increased its overseas business layout.At present, more than 50% of the world’s top ten power semiconductor companies have become corporate customers.Tianyue Advanced recently stated that in order to accelerate the company’s internationalization strategy and overseas business layout, enhance its overseas financing capabilities, strengthen the construction of a global cooperation ecosystem, expand its customer base and deepen customer relationships.“We will build production bases overseas based on the distribution of customers, increase the company’s production capacity of size silicon carbide substrates, and improve our responsiveness to overseas customer needs.”
Global leader in lithium batteriesNingde Times announced on February 11 that it submitted an application to issue H shares and list them on the main board of the Hong Kong Stock Exchange. The sponsors and coordinators of the company’s Hong Kong stock listing include Bank of America, China International Capital, JP Morgan Chase, Goldman Sachs, UBS, etc.According to the prospectus, part of the funds raised by Ningde Times ‘IPO will beUsed for the first and second phases of Hungarian projects.CICC Zeng Tao and others pointed out in a research report on December 27, 2024 that according to the overseas production capacity plan announced by Ningde Times,It is expected that the overseas production capacity under construction may be close to 180GWh(Hungary 100GWh+Stellanties joint venture factory 50GW+ Indonesia 25-30GWh), based on the investment of 500 – 600 million yuan per GWh,The capital expenditure required may reach 100 billion yuan。The company may still need to use overseas financing to meet the capital needs of overseas production capacity expansion and further promote the company’s internationalization strategy.
