| Stock Name | Mokingran |
|---|---|
| Stock Code | 02585 |
| Company Full Name | Mokingran Jewellery Group Co., Ltd. |
| Industry | 紡織服飾 |
| Principal Activities | 公司是專注中國三線及以下城市市場的黃金珠寶首飾原創品牌制造商。 |
| Listing Date | 2024-11-29 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國天津市濱海高新區華苑產業區梓苑路15號 |
| Business Address (Hong Kong) | To be extracted |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | http://www.mokingran.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 Mechanism | To be extracted |
|---|---|
| Offer Price | HK$ 12.00 / shares |
| Offer Price Range | To be extracted |
| 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) | CITIC Securities (Hong Kong) Limited CE AAK249 |
| Cornerstone Share | 39.8% |
| Clawback Tiers | To be extracted |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 105,496,800 |
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 200 | HK$ 2,400 |
| 2 lots | 400 | HK$ 4,800 |
| 3 lots | 600 | HK$ 7,200 |
| 4 lots | 800 | HK$ 9,600 |
| 5 lots | 1,000 | HK$ 12,000 |
| 6 lots | 1,200 | HK$ 14,400 |
| 7 lots | 1,400 | HK$ 16,800 |
| 8 lots | 1,600 | HK$ 19,200 |
| 9 lots | 1,800 | HK$ 21,600 |
| 10 lots | 2,000 | HK$ 24,000 |
| 15 lots | 3,000 | HK$ 36,000 |
| 20 lots | 4,000 | HK$ 48,000 |
| 25 lots | 5,000 | HK$ 60,000 |
| 30 lots | 6,000 | HK$ 72,000 |
| 35 lots | 7,000 | HK$ 84,000 |
| 40 lots | 8,000 | HK$ 96,000 |
| 45 lots | 9,000 | HK$ 108,000 |
| 50 lots | 10,000 | HK$ 120,000 |
| 100 lots | 20,000 | HK$ 240,000 |
| 150 lots | 30,000 | HK$ 360,000 |
| 200 lots | 40,000 | HK$ 480,000 |
| 250 lots | 50,000 | HK$ 600,000 |
| 300 lots | 60,000 | HK$ 720,000 |
| 350 lots | 70,000 | HK$ 840,000 |
| 400 lots | 80,000 | HK$ 960,000 |
| 450 lots | 90,000 | HK$ 1,080,000 |
| 500 lots | 100,000 | HK$ 1,200,000 |
| 1,000 lots | 200,000 | HK$ 2,400,000 |
| 1,500 lots | 300,000 | HK$ 3,600,000 |
| 2,000 lots | 400,000 | HK$ 4,800,000 |
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 2,500 lots | 500,000 | HK$ 6,000,000 |
| 3,000 lots | 600,000 | HK$ 7,200,000 |
| 4,500 lots | 900,000 | HK$ 10,800,000 |
| 5,000 lots | 1,000,000 | HK$ 12,000,000 |
| 6,250 lots | 1,250,000 | HK$ 15,000,000 |
| 7,500 lots | 1,500,000 | HK$ 18,000,000 |
| 10,000 lots | 2,000,000 | HK$ 24,000,000 |
| 10,989 lots | 2,197,800 | HK$ 26,373,600 |
| HK Market Cap | HK$ 4.34B |
|---|
| 26Q2 Regular Review | |
| Inclusion Pathway | Small Cap Regular Path |
|---|---|
| Est. Threshold | HK$ 10.47B Market cap gap 59% |
| Analysis Result | Market cap below threshold (gap 59%) |
| 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 | To be extracted |
| Listing Expenses | ~HK$ 72,000,000 |
| Listing Expenses / Funds Raised | ~13.4% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | HK$ 12.9 |
|---|---|
| First Day Open | HK$ 12.5 |
| First Day Change | 7.50% |
| First Day Volume | 12461400.0 |
| First Day Turnover | 155061000.0 |
| Use of Proceeds | 1、約50.0%或251.2百萬港元（ 人民幣232.5百萬元 ）將用于升級山東濰坊的生產設施以增強生產能力，以期進一步實現業務增長； 2、約34.0%或170.8百萬港元（ 人民幣158.1百萬元 ），將用于擴大和加強銷售網絡； 3、約16.0%或80.4百萬港元（ 人民幣74.4百萬元）將用于投資信息科技。 |
|---|
| Role | Institution |
|---|---|
| Legal Advisor to Company | Jia Yuan Law Offices |
| Legal Advisor to Sponsors/Underwriters |
Linklaters Jingtian & Gongcheng |
| Auditor and Reporting Accountant | 德勤‧关黄陈方会计师行 |
| Industry Advisor | Frost & Sullivan (Beijing) Inc., Shanghai Branch Co. |
| Compliance Advisor | Rainbow Capital (HK) Limited CE BPB716 |
| Receiving Banks | China CITIC Bank International Limited |
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | Bright Ambition International Limited | 42,511,200 HKD | — | 8.06% | — | 6 months | 2025-05-29 |
| 2 | Matrix Capital Limited | 42,787,200 HKD | — | 8.11% | — | 6 months | 2025-05-29 |
| 3 | Solid Elegance International (Hong Kong) Limited | 28,708,800 HKD | — | 5.44% | — | 6 months | 2025-05-29 |
| 4 | Swift Grace (Hong Kong) Limited | 18,069,600 HKD | — | 3.43% | — | 6 months | 2025-05-29 |
| 5 | 天津海泰资本投资管理有限公司 | 77,683,200 HKD | — | 14.73% | — | 6 months | 2025-05-29 |
| Chairman | 王忠善 |
|---|---|
| Company Secretary | 王澤鋼;余詠詩 |
| Major Shareholders & Holdings | 王忠善(23.72%);張秀芹 (21.98%);天津園金夢企業管理諮詢有限公司(14.65%);天津金夢企業管理合伙企業(有限合伙)(8.06%) |
|---|
市场情绪
The IPO of 梦金园 (02585) saw retail oversubscription of 20.58 times, indicating moderate market demand. The overall hit rate of 43.28% reflects a balanced allocation, with neither extreme scarcity nor oversupply. Pricing at the final offer price of HKD 12.00 and the presence of clawback reallocation suggest stable but not frenzied sentiment. (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
A notable tier anomaly exists: the expected lots for甲尾 (A-tail, HKD 300,000 application) is 0.4222 lots, nearly identical to the 0.4118 lots expected for乙头 (B-head, HKD 400,000 application). This implies that the marginal benefit of moving from top of A-tier into B-tier is minimal, as both receive roughly the same allocation. It reflects an inefficient distribution where larger A-tier applications fail to gain proportional advantage, likely due to the specific clawback and allocation formula. Broker fee efficiency may vary significantly across tiers, but given the almost identical expected lots, B-head investors may face higher costs without proportional reward. (This is AI-generated commentary. Actual broker fees and exact allocations depend on individual broker arrangements and may differ. Not financial advice.)
申购人群画像
Demographic data for this IPO is not available in the provided dataset, as total holder counts and mainland/HK participant percentages are recorded as zero. Without reliable data, no patterns regarding investor origin, gender, or regional concentration can be assessed. In typical Hong Kong IPOs, mainland Chinese participation can be significant, but here no inference can be drawn. (This is AI-generated commentary. Demographic data may be incomplete or suppressed. Verify against official sources. Not financial advice.)
