IPO Timeline Raw facts
Broker Deadline
2026-02-06
Morning deadline
HKEX Deadline
2026-02-06
Noon deadline
Broker Results (T-2)
2026-02-09
Some brokers release in afternoon
Grey Market (T-1)
2026-02-10
Afternoon
HKEX Allotment (T-1)
2026-02-10
Evening
Registrar Allotment (T-1)
2026-02-10
Evening
Listing Day (T)
2026-02-11
First day of trading
Cross-Market Price Comparison
| Other Listed Market | Shenzhen (SZSE) — 先导智能 |
|---|---|
| Other Market Stock Code | 300450 |
| H-Share Offer Price | HK$ 45.80 |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | Wuxi Lead |
|---|---|
| Stock Code | 00470 |
| Company Full Name | Wuxi Lead Intelligent Equipment Co., Ltd. |
| Industry | Industrial Goods |
| Principal Activities | We are an intelligent equipment company, providing intelligent equipment and solutions to numerous emerging industries. The manufacturing equipment and solutions we deliver are widely distributed across diverse application areas, including lithium batteries, photovoltaic cells, and the manufacturing of computer, communications and consumer electronics (3C) products, intelligent logistics, hydrogen production and fuel cell production, automobile manufacturing, and laser precision processing. |
| Listing Date | 2026-02-11 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 江蘇省 無錫市新吳區 新錫路20號 |
| Business Address (Hong Kong) | 灣仔 皇后大道東183號 合和中心46樓 |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | leadintelligent.com |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | (852)2862 8628 |
| A-Share/US Dual Listing | Yes (A股) |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 45.80 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 4,580 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-02-03 to 2026-02-06 |
| Global Offering Shares | 107,658,400 shares |
| HK Public Offer Shares (Initial) | 9,361,600 shares (10.0%) |
| Public Offer Lots (Initial) | 93,616lots (46,808lots, 46,808lots) |
| International Placing Shares (Initial) | 84,254,400 shares (90.0%) |
| Offer Ratio | ~6.49% |
| Total Shares Post-IPO | 1,659,779,034 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | CITIC Securities (Hong Kong) Limited CE AAK249 |
| Cornerstone Share | 43.2% |
| Clawback Tiers | Mechanism B: no clawback |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 4,930,754,720 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 4,580 |
| 2 lots | 200 | HK$ 9,160 |
| 3 lots | 300 | HK$ 13,740 |
| 4 lots | 400 | HK$ 18,320 |
| 5 lots | 500 | HK$ 22,900 |
| 6 lots | 600 | HK$ 27,480 |
| 7 lots | 700 | HK$ 32,060 |
| 8 lots | 800 | HK$ 36,640 |
| 9 lots | 900 | HK$ 41,220 |
| 10 lots | 1,000 | HK$ 45,800 |
| 20 lots | 2,000 | HK$ 91,600 |
| 30 lots | 3,000 | HK$ 137,400 |
| 40 lots | 4,000 | HK$ 183,200 |
| 50 lots | 5,000 | HK$ 229,000 |
| 60 lots | 6,000 | HK$ 274,800 |
| 70 lots | 7,000 | HK$ 320,600 |
| 80 lots | 8,000 | HK$ 366,400 |
| 90 lots | 9,000 | HK$ 412,200 |
| 100 lots | 10,000 | HK$ 458,000 |
| 200 lots | 20,000 | HK$ 916,000 |
| 300 lots | 30,000 | HK$ 1,374,000 |
| 400 lots | 40,000 | HK$ 1,832,000 |
| 500 lots | 50,000 | HK$ 2,290,000 |
| 600 lots | 60,000 | HK$ 2,748,000 |
| 700 lots | 70,000 | HK$ 3,206,000 |
| 800 lots | 80,000 | HK$ 3,664,000 |
| 900 lots | 90,000 | HK$ 4,122,000 |
| 1,000 lots | 100,000 | HK$ 4,580,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,500 lots | 150,000 | HK$ 6,870,000 |
| 2,000 lots | 200,000 | HK$ 9,160,000 |
| 2,500 lots | 250,000 | HK$ 11,450,000 |
| 3,000 lots | 300,000 | HK$ 13,740,000 |
| 3,500 lots | 350,000 | HK$ 16,030,000 |
| 4,000 lots | 400,000 | HK$ 18,320,000 |
| 4,500 lots | 450,000 | HK$ 20,610,000 |
| 5,000 lots | 500,000 | HK$ 22,900,000 |
| 10,000 lots | 1,000,000 | HK$ 45,800,000 |
| 15,000 lots | 1,500,000 | HK$ 68,700,000 |
| 20,000 lots | 2,000,000 | HK$ 91,600,000 |
| 25,000 lots | 2,500,000 | HK$ 114,500,000 |
| 30,000 lots | 3,000,000 | HK$ 137,400,000 |
| 40,000 lots | 4,000,000 | HK$ 183,200,000 |
| 46,808 lots | 4,680,800 | HK$ 214,380,640 |
Stock Connect Inclusion
| HK Market Cap | HK$ 4.99B |
|---|---|
| Analysis Result | Already included in Stock Connect (both, shenzhen, shanghai) |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 76,017,879,757 |
|---|---|
| H-Share Market Cap (at Offer Price) | HK$ 4,930,754,720 |
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not applicable (loss-making) |
| Profit/Loss Status | Net profit RMB 268 million |
| Period-End Cash Balance | To be extracted |
| Listing Expenses | ~HK$ 121,500,000 |
| Listing Expenses / Funds Raised | ~2.46% |
| Total Pre-IPO Investment | To be extracted |
First Day Performance
| First Day Close | HK$ 45.8 |
|---|---|
| First Day Open | HK$ 46.26 |
| First Day Change | 14.30% |
| First Day Volume | 26371200.0 |
| First Day Turnover | 1215060000.0 |
Use of Proceeds
| Use of Proceeds | 1、約40%或約1,666.4百萬港元將用于擴大全球研發、銷售及服務網絡以及選擇性實施戰略舉措，以作為全球化戰略的重要部分； 2、約30%或約1,249.8百萬港元將用于深化平臺化戰略； 3、約10%或約416.6百萬港元將用于產品設計及制造流程、智能裝備技術優化的研發，以提高其性能及運行的穩定性，并降低能源消耗，以協助客戶進一步提升生產效率及產品性能； 4、約10%或約416.6百萬港元，將用于提升數字化基礎設施及改善各業務流程的數字化能力，以提升運營效率； 5、約10%或約416.6百萬港元，將用作營運資金及一般企業用途。 |
|---|
Underwriting Syndicate
Joint Sponsors (2)
Overall Coordinators (4)
Joint Bookrunners (8)
CLSA Limited CE AAB893
J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED CE AAJ321
Huatai Financial Holdings (Hong Kong) Limited CE AOK809
BOCI ASIA LIMITED CE AET863
CMB International Capital Limited CE AVM940
ICBC INTERNATIONAL SECURITIES LIMITED CE ARO299
SPDB International Capital Limited CE BFZ375
ABCI Securities Company Limited CE ACX411
Joint Lead Managers (8)
CLSA Limited CE AAB893
J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED CE AAJ321
Huatai Financial Holdings (Hong Kong) Limited CE AOK809
BOCI ASIA LIMITED CE AET863
CMB International Capital Limited CE AVM940
ICBC INTERNATIONAL SECURITIES LIMITED CE ARO299
SPDB International Capital Limited CE BFZ375
ABCI Securities Company Limited CE ACX411
Stabilizing Manager (1)
CITIC Securities (Hong Kong) Limited CE AAK249
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | Aspex Master Fund | 779,548,060 HKD | — | 15.81% | — | 6 months | 2026-08-11 |
| 2 | Millennium Capital Management (Singapore) Pte. Ltd. | 77,951,600 HKD | — | 1.58% | — | 6 months | 2026-08-11 |
| 3 | Morgan Stanley & Co. International plc | 155,907,780 HKD | — | 3.16% | — | 6 months | 2026-08-11 |
| 4 | MY Asian Opportunities Master Fund, L.P. | 233,863,960 HKD | — | 4.47% | — | 6 months | 2026-08-11 |
| 5 | Oaktree Funds | 233,863,960 HKD | — | 4.74% | — | 6 months | 2026-08-11 |
| 6 | Pinpoint Asset Management Limited | 155,907,780 HKD | — | 3.16% | — | 6 months | 2026-08-11 |
| 7 | Qube Master Fund Ltd | 155,907,780 HKD | — | 3.16% | — | 6 months | 2026-08-11 |
| 8 | Rome Garden Holding Limited | 77,951,600 HKD | — | 1.58% | — | 6 months | 2026-08-11 |
| 9 | 欧万达基金管理有限公司 | 155,907,780 HKD | — | 3.16% | — | 6 months | 2026-08-11 |
| 10 | 无锡金筹投资管理有限公司 | 116,931,980 HKD | — | 2.37% | — | 6 months | 2026-08-11 |
Directors & Management
| Chairman | 王燕清 |
|---|---|
| Company Secretary | 姚遙 |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | Mr. Wang directly holds 0.56% of A shares, and indirectly holds 29.97% of A shares through 拉薩欣導 (holding 21.46%), 無錫煜璽 (holding 4.43%) and 上海卓遨 (holding 5.88%), totaling approximately 30.53% of the equity interests. Ms. Ni (Mr. Wang's spouse) is deemed to have an interest in the 5.88% of A shares held by 上海卓遨 and the 26.45% of A shares controlled by Mr. Wang. |
|---|
AI
AI 市场洞察
AI interpretation
deepseek-v4-pro · AI-generated
市场情绪
The IPO of 先导智能 (00470) saw strong retail demand with an oversubscription ratio of 79.54x, indicating robust market enthusiasm. Despite this, the overall hit rate was a relatively high 49.85%, meaning approximately half of applicants received shares, likely aided by a reallocation of shares to the Hong Kong tranche. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
申购档位分析
An interesting tier anomaly is observed: investors applying at the top of Tier A (甲尾) with HKD 100,000 expected only 1 lot, identical to the expected lot for the entry point of Tier B (乙头) at HKD 150,000. This makes the B-head allocation inefficient, as committing 50% more capital yields no additional shares, increasing per-lot broker costs. Potential applicants should note that different brokers may have varying fee structures. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
申购人群画像
The provided data shows 0% participation from both Mainland China and Hong Kong, which is unusual and likely indicates incomplete demographic reporting by the registrar rather than actual applicant origins. Without accurate geographic breakdowns, typical patterns of strong Guangdong representation cannot be confirmed for this IPO. Data may contain errors; verify against official HKEX filings. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
