MICROINTELLIGEN 03275Hong Kong Stock ExchangeIPOProspectus Information

16.630 - 21.460
Price range · Lists Oct 28
Listing Date: 2026-10-28 · Registrar: Computershare
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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 NameMICROINTELLIGEN
Stock Code03275
Company Full NameChangzhou Microintelligence Co., Ltd
IndustryRobotics
Principal ActivitiesDesigns, develops and commercializes embodied intelligent industrial robots and solutions for customers across multiple sectors, including 3C electronics, automotive manufacturing, new energy, FMCG and semiconductors. Provides embodied intelligent industrial robot (EIIR) products, AI-enabled equipment and modular products.
Listing Date2026-10-28
Listing StatusPre-listing
Listing Rules EraNew Rules (after Aug 2025)
Listing Rules ChapterTo be extracted
Weighted Voting Rights (WVR)No
Registered Address (Mainland China)Floor 2, Building 4, Changzhou Big Data Industrial Park, No. 280 Yulong South Road, Zhonglou Economic Development Zone, Changzhou, Jiangsu Province, PRC
Business Address (Hong Kong)40/F Dah Sing Financial Centre, 248 Queen’s Road East, Wanchai, Hong Kong
Place of IncorporationPRC
Listing MethodGlobal Offering
Listing BoardMain Board
Websitewww.microintelligence.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 ListingNo

Offering Information

Offering Mechanism Mechanism B
Offer PriceTo be extracted
Offer Price RangeHK$ 16.63 - 21.46
Lot Size100 shares
Entry ThresholdHK$ 2,146
Par ValueRMB 1.0 / shares
Offer Period2026-10-20 to 2026-10-23
Global Offering Shares37,275,800 shares
HK Public Offer Shares (Initial)3,727,600 shares (10.0%)
Public Offer Lots (Initial)37,276lots (Pool A18,638lots，Pool B18,638lots)
International Placing Shares (Initial)33,548,200 shares (90.0%)
Offer Ratio~10.0%
Total Shares Post-IPO372,757,356 shares
Greenshoe (Over-allotment Option)Yes
Stabilizing Manager (Greenshoe)东方证券（香港）有限公司 CE AVD362
Cornerstone Share2.1%
Clawback TiersTo be extracted
Reallocation OptionYes
Total Global Offering SizeHK$ 799,938,668

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 SubscribedShares SubscribedSubscription Amount (HKD)
1 lots 100 HK$ 2,146
2 lots 200 HK$ 4,292
3 lots 300 HK$ 6,438
4 lots 400 HK$ 8,584
5 lots 500 HK$ 10,730
6 lots 600 HK$ 12,876
7 lots 700 HK$ 15,022
8 lots 800 HK$ 17,168
9 lots 900 HK$ 19,314
10 lots 1,000 HK$ 21,460
15 lots 1,500 HK$ 32,190
20 lots 2,000 HK$ 42,920
25 lots 2,500 HK$ 53,650
30 lots 3,000 HK$ 64,380
35 lots 3,500 HK$ 75,110
40 lots 4,000 HK$ 85,840
45 lots 4,500 HK$ 96,570
50 lots 5,000 HK$ 107,300
60 lots 6,000 HK$ 128,760
70 lots 7,000 HK$ 150,220
80 lots 8,000 HK$ 171,680
90 lots 9,000 HK$ 193,140
100 lots 10,000 HK$ 214,600
150 lots 15,000 HK$ 321,900
200 lots 20,000 HK$ 429,200
250 lots 25,000 HK$ 536,500
300 lots 30,000 HK$ 643,800
350 lots 35,000 HK$ 751,100
400 lots 40,000 HK$ 858,400
450 lots 45,000 HK$ 965,700
500 lots 50,000 HK$ 1,073,000
600 lots 60,000 HK$ 1,287,600
700 lots 70,000 HK$ 1,502,200
800 lots 80,000 HK$ 1,716,800
900 lots 90,000 HK$ 1,931,400
1,000 lots 100,000 HK$ 2,146,000
1,250 lots 125,000 HK$ 2,682,500
1,500 lots 150,000 HK$ 3,219,000
Pool B
Lots SubscribedShares SubscribedSubscription Amount (HKD)
2,500 lots 250,000 HK$ 5,365,000
3,000 lots 300,000 HK$ 6,438,000
3,500 lots 350,000 HK$ 7,511,000
4,000 lots 400,000 HK$ 8,584,000
4,500 lots 450,000 HK$ 9,657,000
5,000 lots 500,000 HK$ 10,730,000
6,000 lots 600,000 HK$ 12,876,000
7,000 lots 700,000 HK$ 15,022,000
8,000 lots 800,000 HK$ 17,168,000
9,000 lots 900,000 HK$ 19,314,000
10,000 lots 1,000,000 HK$ 21,460,000
12,500 lots 1,250,000 HK$ 26,825,000
15,000 lots 1,500,000 HK$ 32,190,000
17,500 lots 1,750,000 HK$ 37,555,000

Stock Connect Inclusion Analysis

26Q4 Regular Review
Inclusion Pathway Regular Path
HK Market Cap HK$ 8B
Est. Threshold HK$ 9.48B Market cap gap 16%
Analysis Result 市值不达标（市值差 16%）
* IPO in progress, estimated at upper bound offer price

Valuation & Financials

Market Cap (at Offer Price)HK$ 6,198,954,830 - 7,999,372,859
Pre-IPO Valuation (Last Round)Not disclosed
P/E RatioNot disclosed
Profit/Loss StatusNet profit RMB 5.1 million
Period-End Cash Balance人民幣241.7百萬元
Listing Expenses~HK$ 68,600,000
Listing Expenses / Funds Raised~8.58%
Total Pre-IPO InvestmentTo be extracted

Financial Data

Unit: '000 RMB
Income Statement
Item 202320242025
Revenue 434,026600,246795,504
Cost of sales -250,209-312,981-410,132
Gross profit 183,817287,265385,372
Other income and gains, net 21,75418,6662,433
Selling and distribution expenses -49,756-31,314-38,791
Administrative expenses -60,733-42,032-80,320
Operating profit -95,00456,38947,133
Net finance costs -28,638-34,072-38,563
Share of associates and JVs -188-2,424-4,127
Profit before tax -123,83019,8934,443
Income tax expense -10,026-4,154-623
Profit for the year -113,80415,7395,066
Profit attributable to owners -113,80415,7395,066
Balance Sheet
Item 202320242025
Cash and cash equivalents 20,86714,117241,747
Trade and bills receivables 386,540615,133463,891
Inventories 45,74377,553110,077
Total current assets 491,039761,889920,648
Total assets 787,1171,038,7042,251,466
Total current liabilities 533,201667,745763,871
Total liabilities 799,2721,029,6161,002,364
Total equity -12,1559,0881,249,102
Equity attributable to owners -12,1559,0881,249,102
Cash Flow Statement
Item 202320242025
Net cash from operating activities -105,362-153,958140,952
Net cash from investing activities -17,949-6,368-830,639
Net cash from financing activities 61,423153,533917,580
Net increase in cash -61,888-6,793227,893
Income Statement
Balance Sheet
Cash Flow Statement
Source: Accountants' Report and Audited Consolidated Financial Statements
First Day CloseLoading...
Use of Proceeds
Approx. 60.3% for R&D, approx. 10.6% for overseas sales/service network, approx. 14.7% for strategic investments and acquisitions, approx. 4.4% for manufacturing expansion, approx. 10.0% for working capital

Underwriting Syndicate

Sole Sponsor (1)
东方融资（香港）有限公司 CE BDN128(sole)
Sponsor cum Overall Coordinator (1)
东方证券（香港）有限公司 CE AVD362
Overall Coordinators (2)
东方证券（香港）有限公司 CE AVD362 中银国际亚洲有限公司 CE AET863
Joint Global Coordinators (3)
东方证券（香港）有限公司 CE AVD362 中银国际亚洲有限公司 CE AET863 富途证券国际（香港）有限公司 CE AZT137
Joint Bookrunners (12)
东方证券（香港）有限公司 CE AVD362 中银国际亚洲有限公司 CE AET863 富途证券国际（香港）有限公司 CE AZT137 兴证国际融资有限公司 CE BAK956 民银证券有限公司 CE APU820 第一上海证券有限公司 CE ABV488 华福国际证券有限公司 CE BQC241 工银国际证券有限公司 CE ARO299 山证国际证券有限公司 CE BEM330 浦银国际融资有限公司 CE BFZ375 老虎证券（香港）环球有限公司 CE BMU940 粤商国际证券有限公司 CE BEZ371
Joint Lead Managers (12)
东方证券（香港）有限公司 CE AVD362 中银国际亚洲有限公司 CE AET863 富途证券国际（香港）有限公司 CE AZT137 兴证国际融资有限公司 CE BAK956 民银证券有限公司 CE APU820 第一上海证券有限公司 CE ABV488 华福国际证券有限公司 CE BQC241 工银国际证券有限公司 CE ARO299 山证国际证券有限公司 CE BEM330 浦银国际融资有限公司 CE BFZ375 老虎证券（香港）环球有限公司 CE BMU940 粤商国际证券有限公司 CE BEZ371
Capital Market Intermediaries (12)
东方证券（香港）有限公司 CE AVD362 中银国际亚洲有限公司 CE AET863 富途证券国际（香港）有限公司 CE AZT137 兴证国际融资有限公司 CE BAK956 民银证券有限公司 CE APU820 第一上海证券有限公司 CE ABV488 华福国际证券有限公司 CE BQC241 工银国际证券有限公司 CE ARO299 山证国际证券有限公司 CE BEM330 浦银国际融资有限公司 CE BFZ375 老虎证券（香港）环球有限公司 CE BMU940 粤商国际证券有限公司 CE BEZ371
Stabilizing Manager (1)
东方证券（香港）有限公司 CE AVD362

Service Providers

RoleInstitution
Legal Advisor to Company 海问律师事务所
北京国枫律师事务所
北京國楓（上海）律師事務所
通商律师事务所
Legal Advisor to Sponsors/Underwriters 金杜律师事务所
上海道朋律師事務所
Auditor and Reporting Accountant 罗兵咸永道会计师事务所
Industry Advisor 灼识企业管理咨询（上海）有限公司
Receiving Banks 中国银行（香港）有限公司
招商永隆银行有限公司

Cornerstone Investors

#Investor NameInvestment AmountShares Subscribed% of Offer Shares% of Total SharesLock-up PeriodEst. Unlock Date
1 易北萊茵投資有限公司 15,700,000 HKD 823,800 2.11% 0.22% 6 months 2027-04-28

Directors & Management

PositionChinese nameEnglish Name
ChairmanZhang ZhiqiZhang Zhiqi
Company SecretaryTong Zhuqing, Tsang Wing ManTong Zhuqing, Tsang Wing Man
No director data available.

Major Shareholders

Major Shareholders & HoldingsMr. Zhang (4.82% directly; 15.79% concert group), Mr. Pan (12.81% concert group; 15.79% via Changzhou ASFS), Changzhou ASFS (15.79%), Industrial Machinery Fund (8.29%), Ms. Jin Wenying (6.04%), Wuxi Hongtai (5.51%)
About this page

This page shows MICROINTELLIGEN (03275) prospectus details: offer price range, fundraise size, cornerstone investors, greenshoe, Pool A/B allocation and syndicate. For eligible IPOs it also provides a Stock Connect inclusion analysis, indicating the pathway and estimated timing for Southbound Connect admission; for A-share / US secondary listings, it additionally compares the other market's price, exchange rate and the H-share premium/discount. Data is parsed from the HKEX prospectus and related announcements.

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