HQVT 01392 Prospectus Information

IPO Timeline Raw facts

Broker Deadline

2026-06-16

Morning deadline

HKEX Deadline

2026-06-16

Noon deadline

Broker Results (T-2)

2026-06-17

Some brokers release in afternoon

Grey Market (T-1)

2026-06-18

Afternoon

HKEX Allotment (T-1)

2026-06-18

Evening

Registrar Allotment (T-1)

2026-06-18

Evening

Listing Day (T)

2026-06-22

First day of trading

Company Overview

Stock Name	HQVT
Stock Code	01392
Company Full Name	Shenzhen HQVT Technology Co., Ltd.
Industry	Information Technology
Principal Activities	We are a Chinese multispectral AI technology company that provides multispectral AI modules, multispectral AI sensing terminals and multispectral AI large model services, applied in the pan-security and intelligent sensing fields, to provide customers with higher-dimensional perception and security monitoring.
Listing Date	2026-06-22
Listing Rules Era	New Rules (after Aug 2025)
Listing Rules Chapter	To be extracted
Weighted Voting Rights (WVR)	No
Registered Address (Mainland China)	中國深圳市寶安區西鄉街道固戍開發區泰華梧桐工業園8號建築3層
Business Address (Hong Kong)	香港中環都爹利街11號律敦治中心 — 律敦治大廈18樓1802室
Place of Incorporation	China
Listing Method	Global Offering
Listing Board	Main Board
Website	hqvt.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$ 7.20 / shares
Offer Price Range	Final offer price only, no range
Lot Size	500 shares
Entry Threshold	HK$ 3,600
Par Value	RMB 0.0125 / shares
Offer Period	2026-06-11 to 2026-06-16
Global Offering Shares	85,162,500 shares
HK Public Offer Shares (Initial)	8,516,500 shares (10.0%)
Public Offer Lots (Initial)	17,033lots (8,516lots, 8,517lots)
International Placing Shares (Initial)	76,646,000 shares (90.0%)
Offer Ratio	~10.0%
Total Shares Post-IPO	774,208,420 shares
Greenshoe (Over-allotment Option)	No
Stabilizing Manager (Greenshoe)	—
Cornerstone Share	No cornerstone investors
Clawback Tiers	Mechanism B: no clawback mechanism
Reallocation Option	Yes
Total Global Offering Size	HK$ 613,170,000

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	500	HK$ 3,600
2 lots	1,000	HK$ 7,200
3 lots	1,500	HK$ 10,800
4 lots	2,000	HK$ 14,400
5 lots	2,500	HK$ 18,000
6 lots	3,000	HK$ 21,600
7 lots	3,500	HK$ 25,200
8 lots	4,000	HK$ 28,800
9 lots	4,500	HK$ 32,400
10 lots	5,000	HK$ 36,000
12 lots	6,000	HK$ 43,200
14 lots	7,000	HK$ 50,400
16 lots	8,000	HK$ 57,600
18 lots	9,000	HK$ 64,800
20 lots	10,000	HK$ 72,000
30 lots	15,000	HK$ 108,000
40 lots	20,000	HK$ 144,000
50 lots	25,000	HK$ 180,000
60 lots	30,000	HK$ 216,000
70 lots	35,000	HK$ 252,000
80 lots	40,000	HK$ 288,000
90 lots	45,000	HK$ 324,000
100 lots	50,000	HK$ 360,000
120 lots	60,000	HK$ 432,000
140 lots	70,000	HK$ 504,000
160 lots	80,000	HK$ 576,000
180 lots	90,000	HK$ 648,000
200 lots	100,000	HK$ 720,000
400 lots	200,000	HK$ 1,440,000
600 lots	300,000	HK$ 2,160,000
800 lots	400,000	HK$ 2,880,000
1,000 lots	500,000	HK$ 3,600,000
1,200 lots	600,000	HK$ 4,320,000

Pool B

Lots Subscribed	Shares Subscribed	Subscription Amount (HKD)
1,400 lots	700,000	HK$ 5,040,000
1,600 lots	800,000	HK$ 5,760,000
1,800 lots	900,000	HK$ 6,480,000
2,000 lots	1,000,000	HK$ 7,200,000
4,000 lots	2,000,000	HK$ 14,400,000
6,000 lots	3,000,000	HK$ 21,600,000
8,516 lots	4,258,000	HK$ 30,657,600

Stock Connect Inclusion

HK Market Cap	HK$ 15.46B

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$ 5,574,300,624
Pre-IPO Valuation (Last Round)	Not disclosed
P/E Ratio	Not disclosed
Profit/Loss Status	Net profit RMB 29.4 million
Period-End Cash Balance	RMB 65.56 million
Listing Expenses	To be extracted
Listing Expenses / Funds Raised	~12.5%
Total Pre-IPO Investment	To be extracted

First Day Performance

First Day Close	Loading...

Use of Proceeds

Use of Proceeds	Approximately 50.0% will be used to enhance research and development capabilities, approximately 25.0% will be used to expand production capacity, approximately 15.0% will be used for global market penetration, and approximately 10.0% will be used for general working capital and corporate purposes.

Underwriting Syndicate

Joint Sponsors (2)

CMBC International Capital Limited CE BIY679 SPDB International Capital Limited CE BFZ375

Sponsor cum Overall Coordinator (2)

CMBC SECURITIES COMPANY LIMITED CE APU820 SPDB International Capital Limited CE BFZ375

Overall Coordinators (3)

CMBC SECURITIES COMPANY LIMITED CE APU820 SPDB International Capital Limited CE BFZ375 Livermore Holdings Limited CE BJN764

Joint Global Coordinators (3)

CMBC SECURITIES COMPANY LIMITED CE APU820 SPDB International Capital Limited CE BFZ375 Livermore Holdings Limited CE BJN764

Joint Bookrunners (15)

CMBC SECURITIES COMPANY LIMITED CE APU820 SPDB International Capital Limited CE BFZ375 Livermore Holdings Limited CE BJN764 CCB International Capital Limited CE AJO225 CEB International Capital Corporation Limited CE BGH296 中湾国际证券有限公司 CE BTW258 CMB International Capital Limited CE AVM940 DL SECURITIES (HK) LIMITED CE AZN279 Huafu International Securities Limited CE BQC241 SkyVast Securities Limited CE AVT666 Somerley Capital Limited CE BAU754 Yuen Meta (International) Securities Limited CE BIL855 Yunfeng Securities Limited CE AYT670 ZHESHANG INTERNATIONAL FINANCIAL HOLDINGS CO., LIMITED CE BGD825 ZHONGTAI INTERNATIONAL SECURITIES LIMITED CE BAA855

Joint Lead Managers (15)

Capital Market Intermediaries (15)

Service Providers

Role	Institution
Legal Advisor to Company	锦天城（香港）律师事务所有限法律责任合伙史蒂文生黄律师事务所 AllBright Law Offices (Shenzhen) 上海市锦天城律师事务所北京德恒律师事务所
Legal Advisor to Sponsors/Underwriters	乐博律师事务所有限法律责任合伙北京市嘉源（深圳）律师事务所
Auditor and Reporting Accountant	天健国际会计师事务所有限公司
Industry Advisor	Frost & Sullivan (Beijing) Inc., Shanghai Branch Co.
Compliance Advisor	China Harbour International Capital Limited CE BTU140
Receiving Banks	交通银行（香港）有限公司
H Share Registrar	Tricor Investor Services Limited

Cornerstone Investors

This stock has no cornerstone investors.

Directors & Management

Chairman	周波
Company Secretary	柴劍

Executive Director (5)

#	Name	English Name	Type
1	周波	—	Executive Director
2	苗瑞	—	Executive Director
3	柴剑	—	Executive Director
4	邹小刚	—	Executive Director
5	陈永刚	—	Executive Director

Non-Executive Director (1)

#	Name	English Name	Type
1	喻立杰	—	Non-Executive Director

Independent Non-Executive Director (3)

#	Name	English Name	Type
1	陈海平	—	Independent Non-Executive Director
2	钟陆欢	—	Independent Non-Executive Director
3	何嘉倩	—	Independent Non-Executive Director

Major Shareholders

Major Shareholders & Holdings	Mr. Zhou Bo, the controlling shareholder, holds an aggregate of approximately 43.50% of the equity interests through direct and indirect shareholdings, and the Zheshang Chuangtou group holds approximately 13.22% of the equity interests.

HQVT 01392Prospectus Information