IPO Timeline Raw facts
Broker Deadline
Morning deadline
HKEX Deadline
Noon deadline
Broker Results (T-2)
Some brokers release in afternoon
Grey Market (T-1)
Afternoon
HKEX Allotment (T-1)
Evening
Registrar Allotment (T-1)
Evening
Listing Day (T)
First day of trading
Cross-Market Price Comparison
| Other Listed Market | Shenzhen (SZSE) |
|---|---|
| Other Market Stock Code | 301377 |
| H-Share Offer Price | HK$ 380.00 |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | Dtech |
|---|---|
| Stock Code | 01377 |
| Company Full Name | Guangdong Dtech Technology Co., Ltd. |
| Industry | Industrial Goods |
| Principal Activities | Providing precision cutting tools, grinding and polishing materials, functional film materials, and intelligent CNC equipment for key process stages of the global PCB manufacturing value chain. |
| Listing Date | 2026-07-09 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國廣東省東莞市厚街鎮寮廈竹園路39號 |
| Business Address (Hong Kong) | 香港銅鑼灣勿地臣街1號時代廣場二座31樓 |
| Place of Incorporation | China |
| Listing Method | Global Offering |
| Listing Board | Main Board |
| Website | www.dtechs.cn |
| 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 | Yes (A股) |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 380.00 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 38,000 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-06-30 to 2026-07-06 |
| Global Offering Shares | 12,632,000 shares |
| HK Public Offer Shares (Initial) | 1,263,200 shares (10.0%) |
| Public Offer Lots (Initial) | 12,632lots (Pool A6,316lots，Pool B6,316lots) |
| International Placing Shares (Initial) | 11,368,800 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 424,044,934 shares |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 41.5% |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 4,800,160,000 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 38,000 |
| 2 lots | 200 | HK$ 76,000 |
| 3 lots | 300 | HK$ 114,000 |
| 4 lots | 400 | HK$ 152,000 |
| 5 lots | 500 | HK$ 190,000 |
| 6 lots | 600 | HK$ 228,000 |
| 7 lots | 700 | HK$ 266,000 |
| 8 lots | 800 | HK$ 304,000 |
| 9 lots | 900 | HK$ 342,000 |
| 10 lots | 1,000 | HK$ 380,000 |
| 15 lots | 1,500 | HK$ 570,000 |
| 20 lots | 2,000 | HK$ 760,000 |
| 25 lots | 2,500 | HK$ 950,000 |
| 30 lots | 3,000 | HK$ 1,140,000 |
| 35 lots | 3,500 | HK$ 1,330,000 |
| 40 lots | 4,000 | HK$ 1,520,000 |
| 45 lots | 4,500 | HK$ 1,710,000 |
| 50 lots | 5,000 | HK$ 1,900,000 |
| 60 lots | 6,000 | HK$ 2,280,000 |
| 70 lots | 7,000 | HK$ 2,660,000 |
| 80 lots | 8,000 | HK$ 3,040,000 |
| 90 lots | 9,000 | HK$ 3,420,000 |
| 100 lots | 10,000 | HK$ 3,800,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 200 lots | 20,000 | HK$ 7,600,000 |
| 300 lots | 30,000 | HK$ 11,400,000 |
| 400 lots | 40,000 | HK$ 15,200,000 |
| 500 lots | 50,000 | HK$ 19,000,000 |
| 600 lots | 60,000 | HK$ 22,800,000 |
| 700 lots | 70,000 | HK$ 26,600,000 |
| 800 lots | 80,000 | HK$ 30,400,000 |
| 900 lots | 90,000 | HK$ 34,200,000 |
| 1,000 lots | 100,000 | HK$ 38,000,000 |
| 2,000 lots | 200,000 | HK$ 76,000,000 |
| 3,000 lots | 300,000 | HK$ 114,000,000 |
| 4,000 lots | 400,000 | HK$ 152,000,000 |
| 5,000 lots | 500,000 | HK$ 190,000,000 |
| 5,684 lots | 568,400 | HK$ 215,992,000 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 2.4B |
|---|---|
| Analysis Result | Already included in Stock Connect (both) |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 161,137,074,920 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | Net profit RMB 431.6 million |
| Period-End Cash Balance | RMB 271.33 million |
| Listing Expenses | ~HK$ 135,400,000 |
| Listing Expenses / Funds Raised | ~2.8% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | Loading... |
|---|---|
| Use of Proceeds | Approximately 67.5% of the net proceeds will be used to advance the global production capacity layout, approximately 10.0% for R&D investment in cutting-edge technology areas, approximately 10.0% for strategic acquisitions and investments, approximately 2.5% for the construction of a comprehensive digital and intelligent operations system, and approximately 10.0% for replenishing working capital and general corporate purposes. |
Underwriting Syndicate
Joint Sponsors (2)
Sponsor cum Overall Coordinator (1)
CLSA LIMITED CE AAB893
Joint Global Coordinators (8)
CLSA LIMITED CE AAB893
香港上海汇丰银行有限公司 CE AAA523
ABCI CAPITAL LIMITED CE AWL249
Guosen Securities (HK) Brokerage Company, Limited CE AUI491
CMBC SECURITIES COMPANY LIMITED CE APU820
China Galaxy International Securities (Hong Kong) Co., Limited CE AXM459
CMB International Capital Limited CE AVM940
BOCI ASIA LIMITED CE AET863
Joint Bookrunners (10)
CLSA LIMITED CE AAB893
香港上海汇丰银行有限公司 CE AAA523
ABCI CAPITAL LIMITED CE AWL249
GF Securities (Hong Kong) Brokerage Limited CE AOB364
HUATAI FINANCIAL HOLDINGS (HONG KONG) LIMITED CE AOK809
Guosen Securities (HK) Brokerage Company, Limited CE AUI491
CMBC SECURITIES COMPANY LIMITED CE APU820
China Galaxy International Securities (Hong Kong) Co., Limited CE AXM459
CMB International Capital Limited CE AVM940
BOCI ASIA LIMITED CE AET863
Joint Lead Managers (8)
CLSA LIMITED CE AAB893
香港上海汇丰银行有限公司 CE AAA523
Guosen Securities (HK) Brokerage Company, Limited CE AUI491
CMBC SECURITIES COMPANY LIMITED CE APU820
China Galaxy International Securities (Hong Kong) Co., Limited CE AXM459
CMB International Capital Limited CE AVM940
BOCI ASIA LIMITED CE AET863
ABCI Securities Company Limited CE ACX411
Capital Market Intermediaries (11)
CLSA LIMITED CE AAB893
香港上海汇丰银行有限公司 CE AAA523
ABCI CAPITAL LIMITED CE AWL249
GF Securities (Hong Kong) Brokerage Limited CE AOB364
HUATAI FINANCIAL HOLDINGS (HONG KONG) LIMITED CE AOK809
Guosen Securities (HK) Brokerage Company, Limited CE AUI491
CMBC SECURITIES COMPANY LIMITED CE APU820
China Galaxy International Securities (Hong Kong) Co., Limited CE AXM459
CMB International Capital Limited CE AVM940
BOCI ASIA LIMITED CE AET863
ABCI Securities Company Limited CE ACX411
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
威尔逊‧桑西尼‧古奇‧罗沙迪律师事务所 嘉源律师事务所 DTL Law Office Co., Ltd. Eversheds Sutherland (Germany) Rechtsanwälte Steuerberater Solicitors Partnerschaft mbB 新太阳律师事务所 DLA Piper Singapore Pte. Ltd. |
| Legal Advisor to Sponsors/Underwriters |
金杜律师事务所 广东信达律师事务所 |
| Auditor and Reporting Accountant | 容诚（香港）会计师事务所有限公司 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| Receiving Banks |
中信银行（国际）有限公司 招商永隆银行有限公司 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | 胜宏科技集团（香港）有限公司 | 30,000,000 USD | 618,600 | 4.90% | 0.15% | 6 months | 2027-01-09 |
| 2 | HHLR ADVISORS, LTD. | 30,000,000 USD | 618,600 | 4.90% | 0.15% | 6 months | 2027-01-09 |
| 3 | ASPEX MASTER FUND | 30,000,000 USD | 618,600 | 4.90% | 0.15% | 6 months | 2027-01-09 |
| 4 | 建滔投资有限公司 | 20,000,000 USD | 412,400 | 3.26% | 0.10% | 6 months | 2027-01-09 |
| 5 | CPE INVESTMENT XV LIMITED | 20,000,000 USD | 412,400 | 3.26% | 0.10% | 6 months | 2027-01-09 |
| 6 | CloudAlpha Capital Management Limited | 20,000,000 USD | 412,400 | 3.26% | 0.10% | 6 months | 2027-01-09 |
| 7 | 易方达基金管理有限公司 | 5,000,000 USD | 103,100 | 0.82% | 0.02% | 6 months | 2027-01-09 |
| 8 | 易方达资产管理（香港）有限公司 | 10,000,000 USD | 206,200 | 1.63% | 0.05% | 6 months | 2027-01-09 |
| 9 | VERITION MULTI-STRATEGY MASTER FUND LTD. | 15,000,000 USD | 309,300 | 2.45% | 0.07% | 6 months | 2027-01-09 |
| 10 | 泰康人寿保险有限责任公司 | 10,000,000 USD | 206,200 | 1.63% | 0.05% | 6 months | 2027-01-09 |
| 11 | ATHOS CAPITAL LIMITED | 10,000,000 USD | 206,200 | 1.63% | 0.05% | 6 months | 2027-01-09 |
| 12 | HEL VED MASTER FUND | 10,000,000 USD | 206,200 | 1.63% | 0.05% | 6 months | 2027-01-09 |
| 13 | MILLENNIUM | 10,000,000 USD | 206,200 | 1.63% | 0.05% | 6 months | 2027-01-09 |
| 14 | IFUND SPC–Vision IX SP | 10,000,000 USD | 206,200 | 1.63% | 0.05% | 6 months | 2027-01-09 |
| 15 | 霸菱资产管理（亚洲）有限公司 | 8,000,000 USD | 164,900 | 1.31% | 0.04% | 6 months | 2027-01-09 |
| 16 | Martis Fund, L.P. | 8,000,000 USD | 164,900 | 1.31% | 0.04% | 6 months | 2027-01-09 |
| 17 | 定颖投资控股股份有限公司 | 63,000,000 HKD | 164,100 | 1.30% | 0.04% | 6 months | 2027-01-09 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman / Executive Director | 王馨 | WANG Xin Group |
| Company Secretary | 周文英、叶嘉紅 | — |
| Independent Non-Executive Director | 李小菲 | LI Xiaofei |
| Executive Director | 王俊鋒 | WANG Junfeng |
| Independent Non-Executive Director | 宋海海 | SONG Haihai |
| Executive Director | 林俠 | LIN Xia |
| Independent Non-Executive Director | 辛國勝 | XIN Guosheng |
| Executive Director | 王雪峰 | WANG Xuefeng |
| Independent Non-Executive Director | 黃輝 | HUANG Hui |
| Executive Director | 王逸飛 | WANG Yifei |
Major Shareholders
| Major Shareholders & Holdings | Ms. Wang Xin, Mr. Wang Junfeng, Mr. Wang Xuefeng and Mr. Lin Xia are a group of controlling shareholders, and, through Taiding Holdings, Zhejiang Taiding and Taizhou Ruihe, collectively hold approximately 77.51% of the issued shares of the Company. |
|---|
