IPO Timeline Raw facts
Broker Deadline
2024-06-27
Morning deadline
HKEX Deadline
2024-06-27
Noon deadline
Broker Results (T-2)
2024-06-28
Some brokers release in afternoon
Grey Market (T-1)
2024-07-02
Afternoon
HKEX Allotment (T-1)
2024-07-02
Evening
Registrar Allotment (T-1)
2024-07-02
Evening
Listing Day (T)
2024-07-03
First day of trading
Company Overview
| Stock Name | Kingfarproperty |
|---|---|
| Stock Code | 01354 |
| Company Full Name | Xi'an Kingfar Property Services Co., Ltd. |
| Industry | 物業管理 |
| Principal Activities | 公司是一家陜西省國有綜合城市服務及物業管理服務提供商，業務遍及中國西北部,在陜西省的城市服務及物業管理行業建立了重要的市場地位并成為知名品牌。 |
| Listing Date | 2024-07-03 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國陜西省西安市經濟技術開發區鳳城二路51號西安金融創新中心3幢1單元10701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.xajfwy.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 | No |
Offering Information
| Offering Mechanism | To be extracted |
|---|---|
| Offer Price | HK$ 7.50 / shares |
| Offer Price Range | HK$ 7.50 - 9.30 |
| Lot Size | To be extracted |
| Entry Threshold | To be extracted |
| Par Value | To be extracted |
| Offer Period | To be extracted |
| Global Offering Shares | To be extracted |
| 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) | Yes |
| Stabilizing Manager (Greenshoe) | CEB International Capital Corporation Limited CE BGH296 |
| Cornerstone Share | 43.0% |
| Clawback Tiers | To be extracted |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 22,515,750 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 300 | HK$ 2,790 |
| 2 lots | 600 | HK$ 5,580 |
| 3 lots | 900 | HK$ 8,370 |
| 4 lots | 1,200 | HK$ 11,160 |
| 5 lots | 1,500 | HK$ 13,950 |
| 6 lots | 1,800 | HK$ 16,740 |
| 7 lots | 2,100 | HK$ 19,530 |
| 8 lots | 2,400 | HK$ 22,320 |
| 9 lots | 2,700 | HK$ 25,110 |
| 10 lots | 3,000 | HK$ 27,900 |
| 15 lots | 4,500 | HK$ 41,850 |
| 20 lots | 6,000 | HK$ 55,800 |
| 25 lots | 7,500 | HK$ 69,750 |
| 30 lots | 9,000 | HK$ 83,700 |
| 35 lots | 10,500 | HK$ 97,650 |
| 40 lots | 12,000 | HK$ 111,600 |
| 45 lots | 13,500 | HK$ 125,550 |
| 50 lots | 15,000 | HK$ 139,500 |
| 100 lots | 30,000 | HK$ 279,000 |
| 150 lots | 45,000 | HK$ 418,500 |
| 200 lots | 60,000 | HK$ 558,000 |
| 250 lots | 75,000 | HK$ 697,500 |
| 300 lots | 90,000 | HK$ 837,000 |
| 350 lots | 105,000 | HK$ 976,500 |
| 400 lots | 120,000 | HK$ 1,116,000 |
| 450 lots | 135,000 | HK$ 1,255,500 |
| 500 lots | 150,000 | HK$ 1,395,000 |
| 600 lots | 180,000 | HK$ 1,674,000 |
| 700 lots | 210,000 | HK$ 1,953,000 |
| 800 lots | 240,000 | HK$ 2,232,000 |
| 900 lots | 270,000 | HK$ 2,511,000 |
| 1,000 lots | 300,000 | HK$ 2,790,000 |
| 1,500 lots | 450,000 | HK$ 4,185,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 2,000 lots | 600,000 | HK$ 5,580,000 |
| 2,500 lots | 750,000 | HK$ 6,975,000 |
| 2,778 lots | 833,400 | HK$ 7,750,620 |
Stock Connect Inclusion
| HK Market Cap | HK$ 67.1M |
|---|
| 26Q2 Regular Review | |
| Inclusion Pathway | Small Cap Regular Path |
|---|---|
| Est. Threshold | HK$ 10.47B Market cap gap 99% |
| Analysis Result | Market cap below threshold (gap 99%) |
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 258.48 million |
| Listing Expenses | ~HK$ 34,900,000 |
| Listing Expenses / Funds Raised | ~24.9% |
| Total Pre-IPO Investment | To be extracted |
First Day Performance
| First Day Close | HK$ 6.64 |
|---|---|
| First Day Open | HK$ 7.65 |
| First Day Change | -11.47% |
| First Day Volume | 3344700.0 |
| First Day Turnover | 24751900.0 |
Use of Proceeds
| Use of Proceeds | 1、53.8%（或約56.5百萬港元）將用于尋求選擇性收購專注于向公共、住宅及商業物業提供城市服務及物業管理服務的其他物業管理公司； 2、20.6%（或約21.7百萬港元）將用于將汽油車替換成新能源汽車，降低城市服務成本； 3、10.5%（或約11.0百萬港元）將用于進一步開發我們的智慧物業管理系統； 4、5.1%（或約5.4百萬港元）將用于從多樣化渠道招聘人才； 5、10.0%（或約10.5百萬港元）將用于一般業務用途及營運資金。 |
|---|
Underwriting Syndicate
Sole Sponsor (1)
CEB International Capital Corporation Limited CE BGH296(sole)
Overall Coordinators (3)
Joint Global Coordinators (3)
Joint Bookrunners (18)
CEB International Capital Corporation Limited CE BGH296
CMB International Capital Limited CE AVM940
CCB International Capital Limited CE AJO225
ABCI CAPITAL LIMITED CE AWL249
ICBC INTERNATIONAL SECURITIES LIMITED CE ARO299
CMBC SECURITIES COMPANY LIMITED CE APU820
SHANXI SECURITIES INTERNATIONAL LIMITED CE BEM330
CHINA EVERBRIGHT SECURITIES (HK) LIMITED CE AAW536
ZHONGTAI INTERNATIONAL SECURITIES LIMITED CE BAA855
China Galaxy International Securities (Hong Kong) Co., Limited CE AXM459
CINDA INTERNATIONAL CAPITAL LIMITED CE AEE541
Tiger Brokers (HK) Global Limited CE BMU940
Futu Securities International (Hong Kong) Limited CE AZT137
Livermore Holdings Limited CE BJN764
ARISTO SECURITIES LIMITED CE BDH167
PATRONS SECURITIES LIMITED CE BPQ161
SUNHIGH FINANCIAL HOLDINGS LIMITED CE BHJ194
Ruibang Securities Limited CE BIJ312
Joint Lead Managers (18)
CEB International Capital Corporation Limited CE BGH296
CMB International Capital Limited CE AVM940
CCB International Capital Limited CE AJO225
ABCI Securities Company Limited CE ACX411
ICBC INTERNATIONAL SECURITIES LIMITED CE ARO299
CMBC SECURITIES COMPANY LIMITED CE APU820
SHANXI SECURITIES INTERNATIONAL LIMITED CE BEM330
CHINA EVERBRIGHT SECURITIES (HK) LIMITED CE AAW536
ZHONGTAI INTERNATIONAL SECURITIES LIMITED CE BAA855
China Galaxy International Securities (Hong Kong) Co., Limited CE AXM459
CINDA INTERNATIONAL CAPITAL LIMITED CE AEE541
Tiger Brokers (HK) Global Limited CE BMU940
Futu Securities International (Hong Kong) Limited CE AZT137
Livermore Holdings Limited CE BJN764
ARISTO SECURITIES LIMITED CE BDH167
PATRONS SECURITIES LIMITED CE BPQ161
SUNHIGH FINANCIAL HOLDINGS LIMITED CE BHJ194
Ruibang Securities Limited CE BIJ312
Stabilizing Manager (1)
CEB International Capital Corporation Limited CE BGH296
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
Sidley Austin 北京国枫律师事务所 |
| Legal Advisor to Sponsors/Underwriters |
Eric Chow & Co. in Association with Commerce & Finance Law Offices 北京市通商律师事务所 |
| Auditor and Reporting Accountant | 毕马威会计师事务所 |
| Receiving Banks |
CMB Wing Lung Bank Limited 中国工商银行（亚洲）有限公司 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | The Reynold Lemkins Group (Asia) Limited | 9,900,000 HKD | — | 7.92% | — | 6 months | 2025-01-03 |
| 2 | 西安盯准教育科技有限公司 | 10,977,750 HKD | — | 8.78% | — | 6 months | 2025-01-03 |
| 3 | 西安天博诊断技术有限公司 | 32,933,250 HKD | — | 26.35% | — | 6 months | 2025-01-03 |
Directors & Management
| Chairman | 吳鎖正 |
|---|---|
| Company Secretary | 李修遠;梁瑞冰 |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | 西安經發集團有限責任公司(67.5%);西安經發控股(集團)有限責任公司(7.5%) |
|---|
AI
AI 市场洞察
AI interpretation
deepseek-v4-pro · AI-generated
市场情绪
The IPO was heavily oversubscribed by 118.87 times, reflecting intense market enthusiasm. The hit rate of 29.08% is relatively high for such demand, indicating that small lot applicants had a reasonable chance of allocation. The final offer price of HK$7.50 likely fell within a favorable range, contributing to the strong retail participation. (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 甲尾 (last A-tier) application of HK$600,000 yielded just 1 lot expected, identical to the 乙头 (first B-tier) at HK$750,000, highlighting an inefficient tier boundary. This anomaly suggests that the incremental capital for B-head did not improve allocation, though broker financing costs would have been higher. Investors pushing to the top of A-tier may have achieved similar results with lower cost. (This is AI-generated commentary based on historical data. Broker fee structures vary and actual costs may differ. Not financial advice.)
申购人群画像
No demographic data is available in the provided dataset, so analysis of mainland China participation, regional concentration, or gender/age distribution cannot be performed. The absence of this data limits insights into the applicant population structure for this IPO. (This is AI-generated commentary based on historical data. Data may contain errors or omissions from source documents — verify against official HKEX filings. Not financial advice.)
