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
Company Overview
| Stock Name | Dke |
|---|---|
| Stock Code | 01770 |
| Company Full Name | DKE Holding Company Limited |
| Industry | Industrial Goods |
| Principal Activities | Primarily engaged in the development, production and sales of e-paper display modules. |
| 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 浙江省嘉興市 嘉善縣 西塘鎮 復興大道 16 號 2 幢 130 室 |
| Business Address (Hong Kong) | 香港 灣仔 皇后大道東 248 號 大新金融中心 40 樓 |
| Place of Incorporation | China |
| Listing Method | Global Offering |
| Listing Board | Main Board |
| Website | dke.com.cn |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | 香港中央證券登記有限公司，香港灣仔皇后大道東183號合和中心17樓1712-1716號舖 |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 78.64 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 50 shares |
| Entry Threshold | HK$ 3,932 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-06-29 to 2026-07-03 |
| Global Offering Shares | 5,118,600 shares |
| HK Public Offer Shares (Initial) | 511,900 shares (10.0%) |
| Public Offer Lots (Initial) | 10,238lots (Pool A5,119lots，Pool B5,119lots) |
| International Placing Shares (Initial) | 4,606,700 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 51,185,739 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | CITIC Securities (Hong Kong) Limited CE AAK249 |
| Cornerstone Share | No cornerstone investors |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 402,526,704 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 50 | HK$ 3,932 |
| 2 lots | 100 | HK$ 7,864 |
| 3 lots | 150 | HK$ 11,796 |
| 4 lots | 200 | HK$ 15,728 |
| 5 lots | 250 | HK$ 19,660 |
| 6 lots | 300 | HK$ 23,592 |
| 7 lots | 350 | HK$ 27,524 |
| 8 lots | 400 | HK$ 31,456 |
| 9 lots | 450 | HK$ 35,388 |
| 10 lots | 500 | HK$ 39,320 |
| 12 lots | 600 | HK$ 47,184 |
| 14 lots | 700 | HK$ 55,048 |
| 16 lots | 800 | HK$ 62,912 |
| 18 lots | 900 | HK$ 70,776 |
| 20 lots | 1,000 | HK$ 78,640 |
| 30 lots | 1,500 | HK$ 117,960 |
| 40 lots | 2,000 | HK$ 157,280 |
| 50 lots | 2,500 | HK$ 196,600 |
| 60 lots | 3,000 | HK$ 235,920 |
| 70 lots | 3,500 | HK$ 275,240 |
| 80 lots | 4,000 | HK$ 314,560 |
| 90 lots | 4,500 | HK$ 353,880 |
| 100 lots | 5,000 | HK$ 393,200 |
| 120 lots | 6,000 | HK$ 471,840 |
| 140 lots | 7,000 | HK$ 550,480 |
| 160 lots | 8,000 | HK$ 629,120 |
| 180 lots | 9,000 | HK$ 707,760 |
| 200 lots | 10,000 | HK$ 786,400 |
| 400 lots | 20,000 | HK$ 1,572,800 |
| 600 lots | 30,000 | HK$ 2,359,200 |
| 800 lots | 40,000 | HK$ 3,145,600 |
| 1,000 lots | 50,000 | HK$ 3,932,000 |
| 1,200 lots | 60,000 | HK$ 4,718,400 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,400 lots | 70,000 | HK$ 5,504,800 |
| 1,600 lots | 80,000 | HK$ 6,291,200 |
| 1,800 lots | 90,000 | HK$ 7,077,600 |
| 2,000 lots | 100,000 | HK$ 7,864,000 |
| 3,000 lots | 150,000 | HK$ 11,796,000 |
| 4,000 lots | 200,000 | HK$ 15,728,000 |
| 5,119 lots | 255,950 | HK$ 20,127,908 |
Stock Connect Inclusion Analysis
| 26Q4 Regular Review | |
| Inclusion Pathway | Regular Path |
|---|---|
| HK Market Cap | HK$ 6.85B |
| Est. Threshold | HK$ 9.44B |
| Analysis Result | HK market cap below threshold, need +38% |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 4,025,246,514 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | Net profit RMB 80.2 million |
| Period-End Cash Balance | RMB 143.8 million |
| Listing Expenses | ~HK$ 49,500,000 |
| Listing Expenses / Funds Raised | ~10.8% |
| Total Pre-IPO Investment | RMB 0.97 million |
| First Day Close | Loading... |
|---|---|
| Use of Proceeds | Approximately 65% will be used for increasing production capacity and the intelligent upgrade of the production base, approximately 25% for enhancing R&D and technical capabilities, and approximately 10% for working capital and general corporate purposes. |
Underwriting Syndicate
Sole Sponsor (1)
CITIC Securities (Hong Kong) Limited CE AAK249(sole)
Sponsor cum Overall Coordinator (1)
CLSA LIMITED CE AAB893
Joint Bookrunners (5)
Joint Lead Managers (5)
Stabilizing Manager (1)
CITIC Securities (Hong Kong) Limited CE AAK249
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
竞天公诚律师事务所 King and Wood LLP |
| Legal Advisor to Sponsors/Underwriters |
的近律师行 北京市通商律师事务所 |
| Auditor and Reporting Accountant | 天健国际会计师事务所有限公司 |
| Industry Advisor | 灼识企业管理咨询（上海）有限公司 |
| Compliance Advisor | RED SOLAR SECURITIES (INTERNATIONAL) LIMITED CE BJG062 |
| Receiving Banks |
招商永隆银行有限公司 中信银行（国际）有限公司 |
| H Share Registrar | 香港中央证券登记有限公司 |
Cornerstone Investors
This stock has no cornerstone investors.
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman / Executive Director | 周愛軍 | Zhou Aijun |
| Company Secretary | 陳丹丹、劉國賢 | — |
| Non-Executive Director | 汪嘯 | Wang Xiao |
| Independent Non-Executive Director | 曾愛民 | Di Chen |
| Executive Director | 王文亮 | Wang Wenliang |
| Non-Executive Director | 王揚 | Wang Yang |
| Independent Non-Executive Director | 周國富 | Di Chen |
| Non-Executive Director | 劉喻 | Liu Yu |
| Independent Non-Executive Director | 阮添士 | Ruan Tim |
| Non-Executive Director | 狄琛 | Di Chen |
Major Shareholders
| Major Shareholders & Holdings | Mr. 周愛軍 and Mr. 呂 are controlling shareholders, holding in aggregate approximately 33.11% of the shares; 紅榕投資 holds 13.63% of the shares. |
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