IPO Timeline Raw facts
Company Overview
| Stock Name | Breton |
|---|---|
| Stock Code | 01333 |
| Company Full Name | Breton Technology Co., Ltd. |
| Industry | 工業制造 |
| Principal Activities | 公司是中國新能源解決方案提供商，專注于設計、開發電動裝載機及寬體自卸車等電動工程機械并使其商業化。 |
| Listing Date | 2025-05-07 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國上海市閔行區申南路168號3幢2樓208室 |
| Business Address (Hong Kong) | To be extracted |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | https://www.breton.top/ |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | (852)2980 1333 |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | To be extracted |
|---|---|
| Offer Price | HK$ 18.00 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 200 shares |
| Entry Threshold | HK$ 3,600 |
| Par Value | To be extracted |
| Offer Period | 2025-04-25 to 2025-04-30 |
| Global Offering Shares | 13,000,000 shares |
| HK Public Offer Shares (Initial) | To be extracted |
| Public Offer Lots (Initial) | To be extracted |
| International Placing Shares (Initial) | To be extracted |
| Offer Ratio | To be extracted |
| Total Shares Post-IPO | To be extracted |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 27.0% |
| Clawback Tiers | To be extracted |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 234,000,000 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 200 | HK$ 3,600 |
| 2 lots | 400 | HK$ 7,200 |
| 3 lots | 600 | HK$ 10,800 |
| 4 lots | 800 | HK$ 14,400 |
| 5 lots | 1,000 | HK$ 18,000 |
| 6 lots | 1,200 | HK$ 21,600 |
| 7 lots | 1,400 | HK$ 25,200 |
| 8 lots | 1,600 | HK$ 28,800 |
| 9 lots | 1,800 | HK$ 32,400 |
| 10 lots | 2,000 | HK$ 36,000 |
| 15 lots | 3,000 | HK$ 54,000 |
| 20 lots | 4,000 | HK$ 72,000 |
| 25 lots | 5,000 | HK$ 90,000 |
| 30 lots | 6,000 | HK$ 108,000 |
| 35 lots | 7,000 | HK$ 126,000 |
| 40 lots | 8,000 | HK$ 144,000 |
| 45 lots | 9,000 | HK$ 162,000 |
| 50 lots | 10,000 | HK$ 180,000 |
| 60 lots | 12,000 | HK$ 216,000 |
| 70 lots | 14,000 | HK$ 252,000 |
| 80 lots | 16,000 | HK$ 288,000 |
| 90 lots | 18,000 | HK$ 324,000 |
| 100 lots | 20,000 | HK$ 360,000 |
| 150 lots | 30,000 | HK$ 540,000 |
| 200 lots | 40,000 | HK$ 720,000 |
| 250 lots | 50,000 | HK$ 900,000 |
| 300 lots | 60,000 | HK$ 1,080,000 |
| 350 lots | 70,000 | HK$ 1,260,000 |
| 400 lots | 80,000 | HK$ 1,440,000 |
| 450 lots | 90,000 | HK$ 1,620,000 |
| 500 lots | 100,000 | HK$ 1,800,000 |
| 600 lots | 120,000 | HK$ 2,160,000 |
| 700 lots | 140,000 | HK$ 2,520,000 |
| 800 lots | 160,000 | HK$ 2,880,000 |
| 900 lots | 180,000 | HK$ 3,240,000 |
| 1,000 lots | 200,000 | HK$ 3,600,000 |
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,500 lots | 300,000 | HK$ 5,400,000 |
| 2,000 lots | 400,000 | HK$ 7,200,000 |
| 2,500 lots | 500,000 | HK$ 9,000,000 |
| 3,250 lots | 650,000 | HK$ 11,700,000 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 6.71B |
|---|---|
| Analysis Result | Already included in Stock Connect (both) |
Valuation & Financials
| Market Cap (at Offer Price) | To be extracted |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | To be extracted |
| Period-End Cash Balance | RMB 199.25 million |
| Listing Expenses | ~HK$ 86,200,000 |
| Listing Expenses / Funds Raised | ~36.8% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | HK$ 24.9 |
|---|---|
| First Day Open | HK$ 29.0 |
| First Day Change | 38.33% |
| First Day Volume | 8331030.0 |
| First Day Turnover | 222148000.0 |
| Use of Proceeds | 1、約40%或59.1百萬港元預期用于投資技術進步以及開發新產品及服務；
2、約40%或59.1百萬港元預期將用于建立制造工廠及采購必要機器，以提升制造能力；
3、約10%或14.8百萬港元預期將用于擴大銷售及服務網絡，以及提升品牌知名度；
4、約10%或14.8百萬港元預期將用于營運資金及一般公司用途。 |
Underwriting Syndicate
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
科律香港律师事务所 上海市锦天城律师事务所 |
| Legal Advisor to Sponsors/Underwriters |
亚司特律师事务所 通商律师事务所 |
| Auditor and Reporting Accountant | 毕马威会计师事务所 |
| Industry Advisor | 灼识企业管理咨询（上海）有限公司 |
| Receiving Banks |
招商永隆银行有限公司 DBS BANK (HONG KONG) LIMITED |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | 长风成长股票开放式基金型公司 | 24,998,400 HKD | — | 10.68% | — | 6 months | 2025-11-07 |
| 2 | 香港欣威电子有限公司 | 38,113,200 HKD | — | 16.29% | — | 6 months | 2025-11-07 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | 陳方明 | — |
| Company Secretary | 張飛,岑潔嫻 | — |
Major Shareholders
| Major Shareholders & Holdings | 上海方翱商務諮詢合伙企業(22.26%),陳方明(8.19%),中締股東(7.44%),鐘鼎股東(6.79%),湖南湘潭財信產興股權投資合伙企業(5.52%) |
|---|
Market Sentiment
The IPO saw overwhelming demand with an oversubscription ratio of 198.72x, signaling intense retail enthusiasm. With a hit rate of only 16.11%, just 1 in 6 applicants secured shares, underscoring the competitive subscription landscape. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
A notable tier inefficiency exists: an A-tail application of 200,000 lots yields just 0.3704 expected lots, while a B-head application of 300,000 lots delivers 0.8642 expected lots—more than double the allocation for only 50% more lots applied. This large jump makes the B-head tier substantially more efficient per lot, though actual cost efficiency also depends on broker fee structures which vary widely. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Mainland Chinese investors dominated participation at 79.6%, highlighting strong northbound interest in this offering. The investor base skewed male (64.2%) with an average age of 41.9, reflecting a typical demographic profile for Hong Kong IPOs. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
