IPO Timeline Raw facts
Broker Deadline
2026-07-06
Morning deadline
HKEX Deadline
2026-07-06
Noon deadline
Broker Results (T-2)
2026-07-07
Some brokers release in afternoon
Grey Market (T-1)
2026-07-08
Afternoon
HKEX Allotment (T-1)
2026-07-08
Evening
Registrar Allotment (T-1)
2026-07-08
Evening
Listing Day (T)
2026-07-09
First day of trading
Company Overview
| Stock Name | Qiyunshan Food |
|---|---|
| Stock Code | 02797 |
| Company Full Name | Jiangxi Qiyunshan Food Co., Ltd. |
| Industry | 消费零售 |
| Principal Activities | We are a fruit snack company in China that primarily sells Nan Suan Zao food products. |
| 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) | 中國江西省贛州市崇義縣橫水鎮牛角河 |
| Business Address (Hong Kong) | 香港灣仔港灣道6-8號瑞安中心27樓2703室 |
| Place of Incorporation | China |
| Listing Method | Global Offering |
| Listing Board | Main Board |
| Website | qiyunshan.cc |
| Share Registrar | 联合 |
| Registrar Contact | To be extracted |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | To be extracted |
| Offer Price Range | HK$ 5.00 - 8.00 |
| Lot Size | 500 shares |
| Entry Threshold | HK$ 4,000 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-06-30 to 2026-07-06 |
| Global Offering Shares | 25,000,000 shares |
| HK Public Offer Shares (Initial) | 2,500,000 shares (10.0%) |
| Public Offer Lots (Initial) | 5,000lots (2,500lots, 2,500lots) |
| International Placing Shares (Initial) | 22,500,000 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 100,000,000 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | ZHONGTAI INTERNATIONAL SECURITIES LIMITED CE BAA855 |
| Cornerstone Share | No cornerstone investors |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 200,000,000 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 500 | HK$ 4,000 |
| 2 lots | 1,000 | HK$ 8,000 |
| 3 lots | 1,500 | HK$ 12,000 |
| 4 lots | 2,000 | HK$ 16,000 |
| 5 lots | 2,500 | HK$ 20,000 |
| 6 lots | 3,000 | HK$ 24,000 |
| 7 lots | 3,500 | HK$ 28,000 |
| 8 lots | 4,000 | HK$ 32,000 |
| 9 lots | 4,500 | HK$ 36,000 |
| 10 lots | 5,000 | HK$ 40,000 |
| 15 lots | 7,500 | HK$ 60,000 |
| 20 lots | 10,000 | HK$ 80,000 |
| 25 lots | 12,500 | HK$ 100,000 |
| 30 lots | 15,000 | HK$ 120,000 |
| 35 lots | 17,500 | HK$ 140,000 |
| 40 lots | 20,000 | HK$ 160,000 |
| 45 lots | 22,500 | HK$ 180,000 |
| 50 lots | 25,000 | HK$ 200,000 |
| 60 lots | 30,000 | HK$ 240,000 |
| 70 lots | 35,000 | HK$ 280,000 |
| 80 lots | 40,000 | HK$ 320,000 |
| 90 lots | 45,000 | HK$ 360,000 |
| 100 lots | 50,000 | HK$ 400,000 |
| 200 lots | 100,000 | HK$ 800,000 |
| 300 lots | 150,000 | HK$ 1,200,000 |
| 400 lots | 200,000 | HK$ 1,600,000 |
| 500 lots | 250,000 | HK$ 2,000,000 |
| 600 lots | 300,000 | HK$ 2,400,000 |
| 700 lots | 350,000 | HK$ 2,800,000 |
| 800 lots | 400,000 | HK$ 3,200,000 |
| 900 lots | 450,000 | HK$ 3,600,000 |
| 1,000 lots | 500,000 | HK$ 4,000,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,500 lots | 750,000 | HK$ 6,000,000 |
| 2,000 lots | 1,000,000 | HK$ 8,000,000 |
| 2,500 lots | 1,250,000 | HK$ 10,000,000 |
Stock Connect Inclusion
| HK Market Cap | HK$ 2.38B |
|---|
| 26Q3 Fast Review | |
| Inclusion Pathway | Quarterly Fast Inclusion |
|---|---|
| Est. Threshold | HK$ 19.28B Market cap gap 88% |
| Analysis Result | Market cap below threshold (gap 88%) |
| 26Q4 Regular Review | |
| Inclusion Pathway | Small Cap Regular Path |
|---|---|
| Est. Threshold | HK$ 9.56B Market cap gap 76% |
| Analysis Result | Market cap below threshold (gap 76%) |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 500,000,000 - 800,000,000 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | Net profit RMB 48.9 million |
| Period-End Cash Balance | RMB 115.01 million |
| Listing Expenses | ~HK$ 33,000,000 |
| Listing Expenses / Funds Raised | ~20.3% |
| Total Pre-IPO Investment | RMB 2.57 million |
First Day Performance
| First Day Close | Loading... |
|---|
Use of Proceeds
| Use of Proceeds | Approximately 36.3% will be used for expanding production capacity and storage capacity, approximately 18.3% for enhancing research and development capabilities, approximately 13.9% for online marketing and promotion, approximately 27.0% for expanding the sales network, and approximately 4.5% for general working capital. |
|---|
Underwriting Syndicate
Sole Sponsor (1)
ZHONGTAI INTERNATIONAL CAPITAL LIMITED CE BBY334(sole)
Overall Coordinators (1)
ZHONGTAI INTERNATIONAL SECURITIES LIMITED CE BAA855(sole)
Joint Global Coordinators (1)
ZHONGTAI INTERNATIONAL SECURITIES LIMITED CE BAA855(sole)
Joint Bookrunners (16)
ZHONGTAI INTERNATIONAL SECURITIES LIMITED CE BAA855(sole)
CCB International Capital Limited CE AJO225
ABCI CAPITAL LIMITED CE AWL249
SPDB International Capital Limited CE BFZ375
CMBC SECURITIES COMPANY LIMITED CE APU820
SHENWAN HONGYUAN SECURITIES (H.K.) LIMITED CE AAC927
PING AN SECURITIES (HONG KONG) COMPANY LIMITED CE BMC491
SHANXI SECURITIES INTERNATIONAL LIMITED CE BEM330
VICTORY SECURITIES COMPANY LIMITED CE ABN091
Futu Securities International (Hong Kong) Limited CE AZT137
Tiger Brokers (HK) Global Limited CE BMU940
SOUTH CHINA SECURITIES LIMITED CE AAA874
GET NICE SECURITIES LIMITED CE AAA847
Yuen Meta (International) Securities Limited CE BIL855
Eddid Securities and Futures Limited CE BHT550
First Shanghai Securities Limited CE ABV488
Joint Lead Managers (16)
ZHONGTAI INTERNATIONAL SECURITIES LIMITED CE BAA855(sole)
CCB International Capital Limited CE AJO225
ABCI Securities Company Limited CE ACX411
SPDB International Capital Limited CE BFZ375
CMBC SECURITIES COMPANY LIMITED CE APU820
SHENWAN HONGYUAN SECURITIES (H.K.) LIMITED CE AAC927
PING AN SECURITIES (HONG KONG) COMPANY LIMITED CE BMC491
SHANXI SECURITIES INTERNATIONAL LIMITED CE BEM330
VICTORY SECURITIES COMPANY LIMITED CE ABN091
Futu Securities International (Hong Kong) Limited CE AZT137
Tiger Brokers (HK) Global Limited CE BMU940
SOUTH CHINA SECURITIES LIMITED CE AAA874
GET NICE SECURITIES LIMITED CE AAA847
Yuen Meta (International) Securities Limited CE BIL855
Eddid Securities and Futures Limited CE BHT550
First Shanghai Securities Limited CE ABV488
Capital Market Intermediaries (2)
Stabilizing Manager (1)
ZHONGTAI INTERNATIONAL SECURITIES LIMITED CE BAA855
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
King & Wood 北京市金杜（广州）律师事务所 |
| Legal Advisor to Sponsors/Underwriters |
何韦律师行 北京市君合律师事务所 |
| Auditor and Reporting Accountant | Ernst & Young |
| Industry Advisor | 灼识行业咨询有限公司 |
| Receiving Banks | Bank of China (Hong Kong) Limited |
Cornerstone Investors
This stock has no cornerstone investors.
Directors & Management
| Chairman | 劉志高 |
|---|---|
| Company Secretary | 羅翔鑫、姚倩宜 |
Executive Director (6)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 劉志高 | — | Executive Director |
| 2 | 朱方永 | — | Executive Director |
| 3 | 劉繼延 | — | Executive Director |
| 4 | 楊玉蘭 | — | Executive Director |
| 5 | 黃忠明 | — | Executive Director |
| 6 | 凌華山 | — | Executive Director |
Independent Non-Executive Director (3)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 黃梓麟 | — | Independent Non-Executive Director |
| 2 | 戴濤濤 | — | Independent Non-Executive Director |
| 3 | 王世雄 | — | Independent Non-Executive Director |
Major Shareholders
| Major Shareholders & Holdings | The controlling shareholders are 崇義食品廠 (56.25%), 雲之上有限合夥 (18.75%) and the core management shareholders (persons acting in concert), who in aggregate control 75% of the non-listed shares. |
|---|
