IPO Timeline Raw facts
Broker Deadline
2026-05-26
Morning deadline
HKEX Deadline
2026-05-26
Noon deadline
Broker Results (T-2)
2026-05-27
Some brokers release in afternoon
Grey Market (T-1)
2026-05-28
Afternoon
HKEX Allotment (T-1)
2026-05-28
Evening
Registrar Allotment (T-1)
2026-05-28
Evening
Listing Day (T)
2026-05-29
First day of trading
Company Overview
| Stock Name | Creality |
|---|---|
| Stock Code | 03388 |
| Company Full Name | Shenzhen Creality 3D Technology Co., Ltd. |
| Industry | Robotics |
| Principal Activities | global consumer 3D printing product and service provider |
| Listing Date | 2026-05-29 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | 8.05(3) (Market Cap/Revenue Test) |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | Headquarters and Principal Place of Room 1808, Jinxiu Hongdu Building Business in the PRC Meilong Avenue, Xinniu Community Minzhi Street, Longhua District Shenzhen, Guangdong Province PRC Place of Bus |
| Business Address (Hong Kong) | Room 1910, 19/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | creality.com |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | Tricor Investor Services Limited, 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 18.80 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 150 shares |
| Entry Threshold | HK$ 2,820 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-05-20 to 2026-05-26 |
| Global Offering Shares | 73,427,550 shares |
| HK Public Offer Shares (Initial) | 7,342,800 shares (10.0%) |
| Public Offer Lots (Initial) | 48,952lots (24,476lots, 24,476lots) |
| International Placing Shares (Initial) | 66,084,750 shares (90.0%) |
| Offer Ratio | ~15.73% |
| Total Shares Post-IPO | 466,840,101 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | China International Capital Corporation Hong Kong Securities Limited CE AEN894 |
| Cornerstone Share | 49.9% |
| Clawback Tiers | To be extracted |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 1,380,379,400 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 150 | HK$ 2,820 |
| 2 lots | 300 | HK$ 5,640 |
| 3 lots | 450 | HK$ 8,460 |
| 4 lots | 600 | HK$ 11,280 |
| 5 lots | 750 | HK$ 14,100 |
| 6 lots | 900 | HK$ 16,920 |
| 7 lots | 1,050 | HK$ 19,740 |
| 8 lots | 1,200 | HK$ 22,560 |
| 9 lots | 1,350 | HK$ 25,380 |
| 10 lots | 1,500 | HK$ 28,200 |
| 20 lots | 3,000 | HK$ 56,400 |
| 30 lots | 4,500 | HK$ 84,600 |
| 40 lots | 6,000 | HK$ 112,800 |
| 50 lots | 7,500 | HK$ 141,000 |
| 60 lots | 9,000 | HK$ 169,200 |
| 70 lots | 10,500 | HK$ 197,400 |
| 80 lots | 12,000 | HK$ 225,600 |
| 90 lots | 13,500 | HK$ 253,800 |
| 100 lots | 15,000 | HK$ 282,000 |
| 200 lots | 30,000 | HK$ 564,000 |
| 300 lots | 45,000 | HK$ 846,000 |
| 400 lots | 60,000 | HK$ 1,128,000 |
| 500 lots | 75,000 | HK$ 1,410,000 |
| 600 lots | 90,000 | HK$ 1,692,000 |
| 700 lots | 105,000 | HK$ 1,974,000 |
| 800 lots | 120,000 | HK$ 2,256,000 |
| 900 lots | 135,000 | HK$ 2,538,000 |
| 1,000 lots | 150,000 | HK$ 2,820,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 2,000 lots | 300,000 | HK$ 5,640,000 |
| 3,000 lots | 450,000 | HK$ 8,460,000 |
| 4,000 lots | 600,000 | HK$ 11,280,000 |
| 5,000 lots | 750,000 | HK$ 14,100,000 |
| 6,000 lots | 900,000 | HK$ 16,920,000 |
| 7,000 lots | 1,050,000 | HK$ 19,740,000 |
| 8,000 lots | 1,200,000 | HK$ 22,560,000 |
| 9,000 lots | 1,350,000 | HK$ 25,380,000 |
| 10,000 lots | 1,500,000 | HK$ 28,200,000 |
| 20,000 lots | 3,000,000 | HK$ 56,400,000 |
| 24,476 lots | 3,671,400 | HK$ 69,022,320 |
Stock Connect Inclusion
| HK Market Cap | HK$ 11.17B |
|---|
| 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 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 8,776,600,000 |
|---|---|
| Pre-IPO Valuation (Last Round) | Series A investors (Qianhai FOF, Shenchuangtou Capital, Tencent VC etc.) proceeds fully utilized |
| P/E Ratio | Not applicable (loss-making) |
| Profit/Loss Status | FY2023 net profit RMB 128.5M; FY2024 net profit RMB 88.7M; FY2025 net loss RMB 182.4M (mainly due to Pre-IPO share issuance & dividend RMB 240.3M); Adjusted net profit FY2025: RMB 92.4M |
| Period-End Cash Balance | RMB 277,310,000 (as of Dec 31, 2025) |
| Listing Expenses | ~HK$ 108,100,000 |
| Listing Expenses / Funds Raised | ~7.8% |
| Total Pre-IPO Investment | Pre-IPO investors include Qianhai FOF, Shenchuangtou Capital, Tencent VC, Pingshan Kaisheng etc., proceeds fully utilized |
First Day Performance
| First Day Close | Loading... |
|---|
Use of Proceeds
| Use of Proceeds | 30.0% of the net proceeds, or HK$382 million, is expected to be; 18.0% of the net proceeds, or HK$229 million, will be used to; 12.0% of the net proceeds, or HK$153 million, will be used to; 25.0% of the net proceeds, or HK$318 million, is expected to be; 15.0% of the net proceeds, or HK$191 million, will be used to; 10.0% of the net proceeds, or HK$127 million, will be used; 25.0% of the net proceeds, or HK$318 million, is expected to be; 15.0% of the net proceeds, or HK$191 million, will be used to |
|---|
Underwriting Syndicate
Sole Sponsor (1)
China International Capital Corporation Hong Kong Securities Limited CE AEN894(sole)
Overall Coordinators (2)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
德意志银行香港分行
Joint Global Coordinators (2)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
德意志银行香港分行
Joint Bookrunners (8)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
德意志银行香港分行
AVICT Global Asset Management Limited CE BHF812
ABCI CAPITAL LIMITED CE AWL249
BOCI ASIA LIMITED CE AET863
CCB International Capital Limited CE AJO225
SPDB International Capital Limited CE BFZ375
Livermore Holdings Limited CE BJN764
Joint Lead Managers (2)
Capital Market Intermediaries (9)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
德意志银行香港分行
AVICT Global Asset Management Limited CE BHF812
ABCI CAPITAL LIMITED CE AWL249
ABCI Securities Company Limited CE ACX411
BOCI ASIA LIMITED CE AET863
CCB International Capital Limited CE AJO225
SPDB International Capital Limited CE BFZ375
Livermore Holdings Limited CE BJN764
Stabilizing Manager (1)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
Paul Hastings (Hong Kong) LLP King & Wood 霍金路伟律师行 |
| Legal Advisor to Sponsors/Underwriters |
Latham & Watkins LLP 通商律师事务所 |
| Auditor and Reporting Accountant | 罗兵咸永道会计师事务所 |
| Industry Advisor | 灼识行业咨询有限公司 |
| Receiving Banks | Bank of China (Hong Kong) Limited |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | Taikang Life | 20,000,000 USD | 8,327,250 | 11.34% | 1.78% | 6 months | 2026-11-29 |
| 2 | CITIC Xingye International | 15,000,000 USD | 6,245,400 | 8.51% | 1.34% | 6 months | 2026-11-29 |
| 3 | CPE Greater China | 10,000,000 USD | 4,163,550 | 5.67% | 0.89% | 6 months | 2026-11-29 |
| 4 | Martis Fund | 8,000,000 USD | 3,330,900 | 4.54% | 0.71% | 6 months | 2026-11-29 |
| 5 | Boyue Fund | 5,000,000 USD | 2,081,700 | 2.84% | 0.45% | 6 months | 2026-11-29 |
| 6 | GBAHIL | 5,000,000 USD | 2,081,700 | 2.84% | 0.45% | 6 months | 2026-11-29 |
| 7 | Apex Insight Investment | 5,000,000 USD | 2,081,700 | 2.84% | 0.45% | 6 months | 2026-11-29 |
| 8 | Oasis Fund | 4,000,000 USD | 1,665,450 | 2.27% | 0.36% | 6 months | 2026-11-29 |
| 9 | Jump Trading | 4,000,000 USD | 1,665,450 | 2.27% | 0.36% | 6 months | 2026-11-29 |
| 10 | Polymer | 2,000,000 USD | 832,650 | 1.13% | 0.18% | 6 months | 2026-11-29 |
| 11 | Dingxin Securities | 2,000,000 USD | 832,650 | 1.13% | 0.18% | 6 months | 2026-11-29 |
| 12 | Colloway | 2,000,000 USD | 832,650 | 1.13% | 0.18% | 6 months | 2026-11-29 |
| 13 | Seven Grand | 2,000,000 USD | 832,650 | 1.13% | 0.18% | 6 months | 2026-11-29 |
| 14 | ICSA | 2,000,000 USD | 832,650 | 1.13% | 0.18% | 6 months | 2026-11-29 |
| 15 | Optimas Capital | 2,000,000 USD | 832,650 | 1.13% | 0.18% | 6 months | 2026-11-29 |
Directors & Management
| Chairman | Mr. Chen Chun |
|---|---|
| Company Secretary | Ms. Yeung Siu Wai Kitty |
Executive Director (5)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 陈春 | Chen Chun | Executive Director |
| 2 | 敖丹军 | Ao Danjun | Executive Director |
| 3 | 刘辉林 | Liu Huilin | Executive Director |
| 4 | 唐京科 | Tang Jingke | Executive Director |
| 5 | 方宗棣 | Fang Zongdi | Executive Director |
Non-Executive Director (1)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 黄宏满 | Huang Hongman | Non-Executive Director |
Independent Non-Executive Director (3)
| # | Name | English Name | Type |
|---|---|---|---|
| 1 | 高丽 | Gao Li | Independent Non-Executive Director |
| 2 | 王雅婷 | Wang Yating | Independent Non-Executive Director |
| 3 | 梁华权 | Liang Huaquan | Independent Non-Executive Director |
Major Shareholders
| Major Shareholders & Holdings | Controlling shareholders: Mr. 陈春, Mr. 敖丹军, Mr. 刘辉林, Mr. 唐京科 (concerted action arrangement, totaling 69.2%); Employee shareholding platform: 創想三維 (Limited Partnership); Pre-IPO investors: 前海FOF (5.8%), 深創投資本 (4.4%), 腾讯创投 (2.2%), 坪山凯晟 (1.4%) |
|---|
AI
AI 市场洞察
AI interpretation
deepseek-v4-pro · AI-generated
市场情绪
The IPO was massively oversubscribed by over 3,800 times, reflecting extreme market enthusiasm for 创想三维 in the 3D printing/consumer electronics sector. The low hit rate of 17.64% underscores the intense competition for allocations. With HK initial retail tranche at 10% and no clawback triggered under Mechanism B, pricing dynamics remain efficient. (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
The tier distribution shows extreme granularity, with the last A-tier (甲尾) expecting only 0.3249 lots per successful application, barely below the first B-tier (乙头) at 0.4 lots. This minor differential, combined with the much higher capital requirement for B-tiers, makes the B-head tier inefficient for most retail investors. No clawback was triggered under Mechanism B, keeping the retail tranche at the initial 10% despite massive oversubscription. (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
No demographic data was provided in the source filings, with mainland and HK participation percentages both showing as zero. This likely indicates incomplete reporting or data extraction errors, as these metrics are usually disclosed for major IPOs. Investors should verify with official HKEX filings for regional and gender breakdowns. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
