| Stock Name | Shougang Lanza |
|---|---|
| Stock Code | 02553 |
| Company Full Name | Beijing Shougang LanzaTech Technology Co., Ltd. |
| Industry | CCUS |
| Principal Activities | We are a company engaged in the carbon capture, utilization and storage industry (also known as the CCUS industry), primarily focusing on producing low-carbon products such as ethanol and microbial protein through carbon capture and utilization technologies, and providing comprehensive low-carbon solutions. |
| Listing Date | 2026-06-03 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 北京市石景山區田順莊北路1號院1號樓16層1601-6室 |
| 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.bjsglt.com |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | Tricor Investor Services Limited |
| A-Share/US Dual Listing | No |
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 17.10 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 200 shares |
| Entry Threshold | HK$ 3,420 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-05-26 to 2026-05-29 |
| Global Offering Shares | 40,000,000 shares |
| HK Public Offer Shares (Initial) | 4,000,000 shares (10.0%) |
| Public Offer Lots (Initial) | 20,000lots (10,000lots, 10,000lots) |
| International Placing Shares (Initial) | 36,000,000 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 400,000,000 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | Yue Xiu Capital Limited CE BOA034 |
| Cornerstone Share | No cornerstone investors |
| Clawback Tiers | Mechanism B: discretionary reallocation (no mandatory clawback) |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 684,000,000 |
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 200 | HK$ 3,420 |
| 2 lots | 400 | HK$ 6,840 |
| 3 lots | 600 | HK$ 10,260 |
| 4 lots | 800 | HK$ 13,680 |
| 5 lots | 1,000 | HK$ 17,100 |
| 6 lots | 1,200 | HK$ 20,520 |
| 7 lots | 1,400 | HK$ 23,940 |
| 8 lots | 1,600 | HK$ 27,360 |
| 9 lots | 1,800 | HK$ 30,780 |
| 10 lots | 2,000 | HK$ 34,200 |
| 15 lots | 3,000 | HK$ 51,300 |
| 20 lots | 4,000 | HK$ 68,400 |
| 25 lots | 5,000 | HK$ 85,500 |
| 30 lots | 6,000 | HK$ 102,600 |
| 35 lots | 7,000 | HK$ 119,700 |
| 40 lots | 8,000 | HK$ 136,800 |
| 45 lots | 9,000 | HK$ 153,900 |
| 50 lots | 10,000 | HK$ 171,000 |
| 100 lots | 20,000 | HK$ 342,000 |
| 150 lots | 30,000 | HK$ 513,000 |
| 200 lots | 40,000 | HK$ 684,000 |
| 250 lots | 50,000 | HK$ 855,000 |
| 300 lots | 60,000 | HK$ 1,026,000 |
| 350 lots | 70,000 | HK$ 1,197,000 |
| 400 lots | 80,000 | HK$ 1,368,000 |
| 450 lots | 90,000 | HK$ 1,539,000 |
| 500 lots | 100,000 | HK$ 1,710,000 |
| 1,000 lots | 200,000 | HK$ 3,420,000 |
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,500 lots | 300,000 | HK$ 5,130,000 |
| 2,000 lots | 400,000 | HK$ 6,840,000 |
| 2,500 lots | 500,000 | HK$ 8,550,000 |
| 3,000 lots | 600,000 | HK$ 10,260,000 |
| 3,500 lots | 700,000 | HK$ 11,970,000 |
| 4,000 lots | 800,000 | HK$ 13,680,000 |
| 4,500 lots | 900,000 | HK$ 15,390,000 |
| 5,000 lots | 1,000,000 | HK$ 17,100,000 |
| 10,000 lots | 2,000,000 | HK$ 34,200,000 |
| HK Market Cap | HK$ 11.06B |
|---|
| 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 |
| Market Cap (at Offer Price) | HK$ 6,840,000,000 |
|---|---|
| H-Share Market Cap (at Offer Price) | HK$ 4,218,717,111 |
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not applicable (loss-making) |
| Profit/Loss Status | Net loss RMB 324.9 million |
| Period-End Cash Balance | RMB 183.4 million |
| Listing Expenses | ~HK$ 88,300,000 |
| Listing Expenses / Funds Raised | ~12.91% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | Loading... |
|---|---|
| First Day Open | HK$ -- |
| Use of Proceeds | 1、約37.9%（或約107.9百萬港元）預計將于未來三年用于資助在內蒙古包頭建設和開發SAF生產設施的費用； 2、約21.2%（或約60.4百萬港元）預計將在未來兩年用于河北首朗二期生產設施； 3、約11.4%（或約32.4百萬港元）預計將用于未來三年內菌株、生產設備及工藝以及智能生產管理系統的研究與開發，以提升生產效率； 4、約14.1%（或約40.2百萬港元）預計將用于我們四個生產設施的技術升級； 5、約5.3%（或約15.1百萬港元）預計將用于未來三年內的新產品的開發； 6、約10.0%（或約28.4百萬港元）預計將用于一般公司用途和營運資金需求。 |
|---|
| Role | Institution |
|---|---|
| Legal Advisor to Company | 国枫律师事务所 |
| Legal Advisor to Sponsors/Underwriters |
天元律师事务所（有限法律责任合伙） Tian Yuan Law Firm |
| Auditor and Reporting Accountant | Ernst & Young |
| Industry Advisor | Frost & Sullivan (Beijing) Inc., Shanghai Branch Co. |
| Receiving Banks | China CITIC Bank International Limited |
| Chairman | 馬力深 |
|---|---|
| Company Secretary | 張珂 |
| Major Shareholders & Holdings | Shougang Group directly holds approximately 26.54% of the interests; NZ Tang Ming directly holds approximately 9.48% of the interests; and Caojiadian Fund directly holds approximately 3.54% of the interests. Shougang Group, NZ Tang Ming, Ms. Dong, Ms. Ye, Chang Development Xinyuan, Caojiadian Fund and Shoucheng Rongshi constitute a group of controlling shareholders, holding in aggregate approximately 39.56% of the voting rights. |
|---|
市场情绪
The IPO was heavily oversubscribed at 1,421.54x, reflecting extraordinary investor enthusiasm. The overall hit rate of 20.04% suggests a relatively generous allocation, possibly due to reallocation of international tranche shares. No price range was disclosed, so pricing dynamics relative to the offer price of HKD 14.6 remain unclear. (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
There is a notable tier anomaly: B-head applications (300,000) significantly outnumbered A-tail applications (200,000), with B-head expected lots at 0.2 versus 0.1771 for A-tail. This indicates investors flocked to the B-head tier for its marginally higher expected allocation, potentially due to better broker fee efficiency or strategic advantages. The data suggests A-tail was relatively less attractive despite its lower entry threshold. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
申购人群画像
Demographic data is incomplete, showing zero percentages for mainland and Hong Kong participation and no total holder count. This likely reflects missing information rather than actual zero diversity, so typical patterns cannot be assessed. Without this data, no insights into geographic or demographic trends are possible. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
