IPO Timeline Raw facts
Broker Deadline
2026-05-21
Morning deadline
HKEX Deadline
2026-05-21
Noon deadline
Broker Results (T-2)
2026-05-22
Some brokers release in afternoon
Grey Market (T-1)
2026-05-26
Afternoon
HKEX Allotment (T-1)
2026-05-26
Evening
Registrar Allotment (T-1)
2026-05-26
Evening
Listing Day (T)
2026-05-27
First day of trading
Company Overview
| Stock Name | SDMC |
|---|---|
| Stock Code | 00901 |
| Company Full Name | Shenzhen SDMC Technology Co., Ltd. |
| Industry | Robotics |
| Principal Activities | We are a smart home product provider serving enterprise customers, committed to enhancing home application experiences through intelligent technology. The smart home products we provide include hardware and software products. During the Track Record Period, our revenue was primarily derived from the sale of hardware products, namely digital video equipment and network communication equipment. |
| Listing Date | 2026-05-27 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 1st Floor, Building 5, Hengtongfa Industrial Zone, Tangtou Industrial Park, Tangtou Community, Shiyan Street, Bao'an District, Shenzhen, Guangdong Province, China |
| Business Address (Hong Kong) | Room 1920, 19/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong |
| Place of Incorporation | PRC |
| Listing Method | Global Offering |
| Listing Board | Main Board |
| Website | sdmctech.com |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | 卓佳证券登记有限公司，香港金钟道89号力宝中心1座31楼3101-3103室 |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 32.80 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | To be extracted |
| Entry Threshold | To be extracted |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-05-18 to 2026-05-21 |
| Global Offering Shares | 19,207,300 shares |
| HK Public Offer Shares (Initial) | 1,920,800 shares (10.0%) |
| Public Offer Lots (Initial) | To be extracted |
| International Placing Shares (Initial) | 17,286,500 shares (90.0%) |
| Offer Ratio | ~0.28% |
| Total Shares Post-IPO | 209,540,070 shares |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | No cornerstone investors |
| Clawback Tiers | Mechanism B: no clawback mechanism |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 629,999,440 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 3,280 |
| 2 lots | 200 | HK$ 6,560 |
| 3 lots | 300 | HK$ 9,840 |
| 4 lots | 400 | HK$ 13,120 |
| 5 lots | 500 | HK$ 16,400 |
| 6 lots | 600 | HK$ 19,680 |
| 7 lots | 700 | HK$ 22,960 |
| 8 lots | 800 | HK$ 26,240 |
| 9 lots | 900 | HK$ 29,520 |
| 10 lots | 1,000 | HK$ 32,800 |
| 15 lots | 1,500 | HK$ 49,200 |
| 20 lots | 2,000 | HK$ 65,600 |
| 25 lots | 2,500 | HK$ 82,000 |
| 30 lots | 3,000 | HK$ 98,400 |
| 35 lots | 3,500 | HK$ 114,800 |
| 40 lots | 4,000 | HK$ 131,200 |
| 45 lots | 4,500 | HK$ 147,600 |
| 50 lots | 5,000 | HK$ 164,000 |
| 60 lots | 6,000 | HK$ 196,800 |
| 70 lots | 7,000 | HK$ 229,600 |
| 80 lots | 8,000 | HK$ 262,400 |
| 90 lots | 9,000 | HK$ 295,200 |
| 100 lots | 10,000 | HK$ 328,000 |
| 200 lots | 20,000 | HK$ 656,000 |
| 300 lots | 30,000 | HK$ 984,000 |
| 400 lots | 40,000 | HK$ 1,312,000 |
| 500 lots | 50,000 | HK$ 1,640,000 |
| 600 lots | 60,000 | HK$ 1,968,000 |
| 700 lots | 70,000 | HK$ 2,296,000 |
| 800 lots | 80,000 | HK$ 2,624,000 |
| 900 lots | 90,000 | HK$ 2,952,000 |
| 1,000 lots | 100,000 | HK$ 3,280,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 2,000 lots | 200,000 | HK$ 6,560,000 |
| 3,000 lots | 300,000 | HK$ 9,840,000 |
| 4,000 lots | 400,000 | HK$ 13,120,000 |
| 5,000 lots | 500,000 | HK$ 16,400,000 |
| 6,000 lots | 600,000 | HK$ 19,680,000 |
| 7,000 lots | 700,000 | HK$ 22,960,000 |
| 8,000 lots | 800,000 | HK$ 26,240,000 |
| 9,604 lots | 960,400 | HK$ 31,501,120 |
Stock Connect Inclusion
| HK Market Cap | HK$ 13.34B |
|---|
| 26Q2 Regular Review | |
| Inclusion Pathway | Small Cap Regular Path |
|---|---|
| Est. Threshold | HK$ 10.47B Met |
| Analysis Result | 预计2026年9月7日入通 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 6,872,914,295 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not applicable (loss-making) |
| Profit/Loss Status | Net profit RMB 239.2 million |
| Period-End Cash Balance | RMB 273.35 million |
| Listing Expenses | ~HK$ 60,000,000 |
| Listing Expenses / Funds Raised | ~9.5% |
| Total Pre-IPO Investment | RMB 26.15 million |
First Day Performance
| First Day Close | Loading... |
|---|
Use of Proceeds
| Use of Proceeds | Approx. 25% for enhancing market position and new products, approx. 35% for AI technology application, approx. 20% for global expansion, approx. 10% for investments in upstream/downstream players, approx. 10% for working capital. |
|---|
Underwriting Syndicate
Sole Sponsor (1)
China Securities (International) Corporate Finance Company Limited CE BAU112(sole)
Overall Coordinators (1)
China Securities (International) Corporate Finance Company Limited CE BAU112(sole)
Joint Global Coordinators (1)
China Securities (International) Corporate Finance Company Limited CE BAU112(sole)
Joint Bookrunners (8)
China Securities (International) Corporate Finance Company Limited CE BAU112
CMB International Capital Limited CE AVM940
CCB International Capital Limited CE AJO225
ABCI CAPITAL LIMITED CE AWL249
CNCB (Hong Kong) Capital Limited CE AEQ982
GET NICE SECURITIES LIMITED CE AAA847
FORTHRIGHT SECURITIES COMPANY LIMITED CE BGP713
ROOFER SECURITIES LIMITED CE AER871
Joint Lead Managers (8)
China Securities (International) Corporate Finance Company Limited CE BAU112
CMB International Capital Limited CE AVM940
CCB International Capital Limited CE AJO225
ABCI Securities Company Limited CE ACX411
CNCB (Hong Kong) Capital Limited CE AEQ982
GET NICE SECURITIES LIMITED CE AAA847
FORTHRIGHT SECURITIES COMPANY LIMITED CE BGP713
ROOFER SECURITIES LIMITED CE AER871
Capital Market Intermediaries (9)
China Securities (International) Corporate Finance Company Limited CE BAU112
CMB International Capital Limited CE AVM940
CCB International Capital Limited CE AJO225
ABCI CAPITAL LIMITED CE AWL249
ABCI Securities Company Limited CE ACX411
CNCB (Hong Kong) Capital Limited CE AEQ982
GET NICE SECURITIES LIMITED CE AAA847
FORTHRIGHT SECURITIES COMPANY LIMITED CE BGP713
ROOFER SECURITIES LIMITED CE AER871
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
Han Kun Law Offices LLP Zhong Lun Law Firm |
| Legal Advisor to Sponsors/Underwriters |
Sidley Austin King & Wood |
| Auditor and Reporting Accountant | Ernst & Young |
| Industry Advisor | Frost & Sullivan (Beijing) Inc., Shanghai Branch Co. |
| Compliance Advisor | Jun Hui International Finance Limited CE BOE739 |
| Receiving Banks |
Bank of China (Hong Kong) Limited China CITIC Bank International Limited |
| H Share Registrar | Tricor Investor Services Limited |
Cornerstone Investors
This stock has no cornerstone investors.
Directors & Management
| Chairman | Mr. Yin Renyong |
|---|---|
| Company Secretary | Ms. Li Jianyi |
Executive Director (4)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 李波 | Li Bo | Executive Director |
| 2 | 严志康 | Yan Zhikang | Executive Director |
| 3 | 李军 | Li Jun | Executive Director |
| 4 | 党慧 | Dang Hui | Executive Director |
Independent Non-Executive Director (3)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 陆佩然 | Luk Pui Yin Grace | Independent Non-Executive Director |
| 2 | 尹仁勇 | Yin Renyong | Independent Non-Executive Director |
| 3 | 郑潜 | Zheng Qian | Independent Non-Executive Director |
Major Shareholders
| Major Shareholders & Holdings | Mr. Li (Li Bo) directly holds 50,286,768 unlisted shares (representing 26.42%) and indirectly holds 19,402,800 unlisted shares (representing 10.19%) through 智信未來, 凱達雲智, 華智暢聯, 啟航一號 and 啟航二號, in aggregate holding 69,689,568 unlisted shares (representing 36.61%). Upon completion of the Global Offering, Mr. Li will hold 50,286,768 H shares (representing 24.00%) and will hold 19,402,800 H shares (representing 9.26%) through controlled entities, in aggregate holding 69,689,568 H shares (representing 33.26%). |
|---|
AI
AI 市场洞察
AI interpretation
deepseek-v4-pro · AI-generated
市场情绪
The IPO of 华曦达 (00901) saw an extraordinary oversubscription ratio of 1971.99x, indicating fervent market demand. With a hit rate of only 9.63%, the overwhelming majority of applications were unsuccessful, reflecting intense competition for shares. (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
The expected allocation for 甲尾 (100 lots) was a mere 0.02 lots, while 乙头 (200 lots) expected just 0.026 lots, making the capital inefficiency stark. The marginal gain from doubling the application size is minimal, suggesting that neither tier offered a meaningful allocation advantage. Broker fees would likely negate any tiny allocation, so applicants at these thresholds faced high cost-to-allocation ratios. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice. Broker fee structures vary and actual costs may differ.)
申购人群画像
Reported demographic data for this IPO shows zero participants, indicating possible data incompleteness or non-disclosure. As a result, no insights on mainland participation, gender, age, or regional distribution can be drawn. Investors should refer to official HKEX filings for accurate holder demographics. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice. Data may contain errors or omissions.)
