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 | Shanghai (SSE) — 纳芯微 |
|---|---|
| Other Market Stock Code | 688052 |
| H-Share Offer Price | HK$ 116.00 |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | Novosense |
|---|---|
| Stock Code | 02676 |
| Company Full Name | Suzhou Novosense Microelectronics Co., Ltd. |
| Industry | Information Technology |
| Principal Activities | We are a Chinese analog chip provider. As a fabless company, we provide a rich portfolio of high-performance, high-reliability products and solutions across application areas including (i) automotive electronics, (ii) pan-energy, and (iii) consumer electronics. Our three major product categories—sensor products, signal chain chips, and power management chips—together constitute a complete system chain from (i) sensing, (ii) signal processing to (iii) system power supply and power drive. |
| Listing Date | 2025-12-08 |
| 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 江蘇省 蘇州工業園區 東蕩田巷9號 |
| 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 | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | novosns.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 | Yes (A股) |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 116.00 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 11,600 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2025-11-28 to 2025-12-03 |
| Global Offering Shares | 19,068,400 shares |
| HK Public Offer Shares (Initial) | 1,906,900 shares (10.0%) |
| Public Offer Lots (Initial) | 19,069lots (Pool A9,534lots，Pool B9,535lots) |
| International Placing Shares (Initial) | 17,161,500 shares (90.0%) |
| Offer Ratio | ~11.8% |
| Total Shares Post-IPO | 161,596,833 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | China International Capital Corporation Hong Kong Securities Limited CE AEN894 |
| Cornerstone Share | 49.2% |
| Clawback Tiers | Mechanism B: no clawback |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 2,211,934,400 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 11,600 |
| 2 lots | 200 | HK$ 23,200 |
| 3 lots | 300 | HK$ 34,800 |
| 4 lots | 400 | HK$ 46,400 |
| 5 lots | 500 | HK$ 58,000 |
| 6 lots | 600 | HK$ 69,600 |
| 7 lots | 700 | HK$ 81,200 |
| 8 lots | 800 | HK$ 92,800 |
| 9 lots | 900 | HK$ 104,400 |
| 10 lots | 1,000 | HK$ 116,000 |
| 15 lots | 1,500 | HK$ 174,000 |
| 20 lots | 2,000 | HK$ 232,000 |
| 25 lots | 2,500 | HK$ 290,000 |
| 30 lots | 3,000 | HK$ 348,000 |
| 35 lots | 3,500 | HK$ 406,000 |
| 40 lots | 4,000 | HK$ 464,000 |
| 45 lots | 4,500 | HK$ 522,000 |
| 50 lots | 5,000 | HK$ 580,000 |
| 60 lots | 6,000 | HK$ 696,000 |
| 70 lots | 7,000 | HK$ 812,000 |
| 80 lots | 8,000 | HK$ 928,000 |
| 90 lots | 9,000 | HK$ 1,044,000 |
| 100 lots | 10,000 | HK$ 1,160,000 |
| 200 lots | 20,000 | HK$ 2,320,000 |
| 300 lots | 30,000 | HK$ 3,480,000 |
| 400 lots | 40,000 | HK$ 4,640,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 500 lots | 50,000 | HK$ 5,800,000 |
| 600 lots | 60,000 | HK$ 6,960,000 |
| 700 lots | 70,000 | HK$ 8,120,000 |
| 800 lots | 80,000 | HK$ 9,280,000 |
| 900 lots | 90,000 | HK$ 10,440,000 |
| 1,000 lots | 100,000 | HK$ 11,600,000 |
| 1,500 lots | 150,000 | HK$ 17,400,000 |
| 2,000 lots | 200,000 | HK$ 23,200,000 |
| 2,500 lots | 250,000 | HK$ 29,000,000 |
| 3,000 lots | 300,000 | HK$ 34,800,000 |
| 4,000 lots | 400,000 | HK$ 46,400,000 |
| 5,000 lots | 500,000 | HK$ 58,000,000 |
| 6,000 lots | 600,000 | HK$ 69,600,000 |
| 8,000 lots | 800,000 | HK$ 92,800,000 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 2.96B |
|---|---|
| Analysis Result | Already included in Stock Connect (both) |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 18,745,232,628 |
|---|---|
| H-Share Market Cap (at Offer Price) | HK$ 2,211,934,400 |
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not applicable (loss-making) |
| Profit/Loss Status | Net loss RMB 402.9 million |
| Period-End Cash Balance | RMB 1,012.2 million |
| Listing Expenses | ~HK$ 115,600,000 |
| Listing Expenses / Funds Raised | ~5.2% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | HK$ 111.0 |
|---|---|
| First Day Open | HK$ 116.0 |
| First Day Change | -4.31% |
| First Day Volume | 2014580.0 |
| First Day Turnover | 221531000.0 |
| Use of Proceeds | 1、約18%或387.0百萬港元（相當于約人民幣352.3百萬元）預計將用于提升我們的底層技術能力及工藝平臺；
2、約22%或457.3百萬港元（相當于約人民幣416.2百萬元）預計將用于進一步豐富我們的產品組合，重點擴大汽車電子應用中的產品；
3、約25%或518.4百萬港元（相當于約人民幣471.9百萬元）預計將用于擴展我們的海外銷售網絡及于海外市場推廣我們的產品；
4、約25%或524.1百萬港元（相當于約人民幣477.1百萬元）預計將用于戰略投資及/或收購；
5、約10%或209.6百萬港元（相當于約人民幣190.8百萬元）預計將用于營運資金及一般企業用途。 |
Underwriting Syndicate
Joint Sponsors (3)
Sponsor cum Overall Coordinator (3)
Overall Coordinators (3)
Joint Global Coordinators (3)
Joint Bookrunners (9)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
CLSA LIMITED CE AAB893
建银国际金融有限公司 CE AJO225
ABCI CAPITAL LIMITED CE AWL249
东吴证券国际经纪有限公司 CE AYA587
ZHESHANG INTERNATIONAL FINANCIAL HOLDINGS CO., LIMITED CE BGD825
ORIENT SECURITIES (HONG KONG) LIMITED CE AVD362
BETA INTERNATIONAL SECURITIES LIMITED CE ABN652
I WIN SECURITIES LIMITED CE BJB315
Joint Lead Managers (9)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
CLSA LIMITED CE AAB893
建银国际金融有限公司 CE AJO225
ABCI Securities Company Limited CE ACX411
东吴证券国际经纪有限公司 CE AYA587
ZHESHANG INTERNATIONAL FINANCIAL HOLDINGS CO., LIMITED CE BGD825
ORIENT SECURITIES (HONG KONG) LIMITED CE AVD362
BETA INTERNATIONAL SECURITIES LIMITED CE ABN652
I WIN SECURITIES LIMITED CE BJB315
Capital Market Intermediaries (10)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
CLSA LIMITED CE AAB893
建银国际金融有限公司 CE AJO225
ABCI CAPITAL LIMITED CE AWL249
ABCI Securities Company Limited CE ACX411
东吴证券国际经纪有限公司 CE AYA587
ZHESHANG INTERNATIONAL FINANCIAL HOLDINGS CO., LIMITED CE BGD825
ORIENT SECURITIES (HONG KONG) LIMITED CE AVD362
BETA INTERNATIONAL SECURITIES LIMITED CE ABN652
I WIN SECURITIES LIMITED CE BJB315
Stabilizing Manager (1)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
普衡律师事务所（香港）有限法律责任合伙 嘉源律师事务所 |
| Legal Advisor to Sponsors/Underwriters | Tian Yuan Law Firm |
| Auditor and Reporting Accountant | 毕马威会计师事务所 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| Receiving Banks |
中国工商银行（亚洲）有限公司 中信银行（国际）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 | 元禾纳芯 | 90,000,000 USD | 6,040,700 | 31.68% | 3.74% | 6 months | 2026-06-08 |
| 2 | Golden Link | 9,880,000 USD | 663,200 | 3.48% | 0.41% | 6 months | 2026-06-08 |
| 3 | 好易得国际 | 10,000,000 USD | 671,100 | 3.52% | 0.42% | 6 months | 2026-06-08 |
| 4 | Perseverance Asset Management | 10,000,000 USD | 671,100 | 3.52% | 0.42% | 6 months | 2026-06-08 |
| 5 | 3W Fund | 10,000,000 USD | 671,100 | 3.52% | 0.42% | 6 months | 2026-06-08 |
| 6 | Green Better | 5,000,000 USD | 335,500 | 1.76% | 0.21% | 6 months | 2026-06-08 |
| 7 | Dream’ee HK Fund | 5,000,000 USD | 335,500 | 1.76% | 0.21% | 6 months | 2026-06-08 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | 王升楊 | — |
| Company Secretary | 王一飛 | — |
| Executive Director | 王升杨 | Wang Shengyang |
| Non-Executive Director | 吴杰 | Jiang Chaoshang |
| Independent Non-Executive Director | 洪志良 | Hong Zhiliang |
| Executive Director | 盛云 | ShengYun |
| Independent Non-Executive Director | 陈西婵 | Chen Xichan |
| Executive Director | 王一峰 | ShengYun |
| Independent Non-Executive Director | 王如伟 | Chen Xichan |
| Executive Director | 姜超尚 | Jiang Chaoshang |
| Independent Non-Executive Director | 杜琳琳 | Du Linlin |
Major Shareholders
| Major Shareholders & Holdings | Mr. 王升楊, Mr. 盛雲 and Mr. 王一峰 constitute the single largest shareholder group, holding in aggregate 44,336,080 A shares, representing approximately 27.44% of the total issued share capital immediately after completion of the Global Offering (assuming the over-allotment option is not exercised). |
|---|
AI
AI Analysis
AI interpretation
deepseek-v4-pro · AI-generated
Market Sentiment
纳芯微 IPO garnered an oversubscription of 25.33 times with a hit rate of 21.98%, indicating solid but not overwhelming demand for this semiconductor stock. Reallocation was triggered, reflecting decent retail enthusiasm, though the absence of a disclosed price range limits pricing insight. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
Tier distribution data is unavailable as lot size was not provided, preventing analysis of 甲尾 and 乙头 dynamics or broker fee efficiency. Investors should refer to official prospectus for detailed allocation tables. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Demographic data is not available in the provided dataset, so no analysis of mainland participation, gender, age, or regional concentration can be performed. Typically, semiconductor IPOs attract diverse investor bases. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
