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 Name | Extreme Vision |
|---|---|
| Stock Code | 06636 |
| Company Full Name | Shandong Extreme Vision Technology Co., Ltd. |
| Industry | Semiconductors |
| Principal Activities | AI computer vision solution provider in China, delivering end-to-end solution development, deployment and management services to enterprises across diverse industries |
| Listing Date | 2026-03-30 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | Chapter 18C |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | Hong Kong Room 1201 31/F, Tower Two, Times Square Jingkong Building 1 Matheson Street No. 57, Lushan Road Causeway Bay Huangdao District, Qingdao Hong Kong Shandong Province PRC |
| Business Address (Hong Kong) | Room 1201 31/F, Tower Two, Times Square Jingkong Building 1 Matheson Street No. 57, Lushan Road Causeway Bay Huangdao District, Qingdao Hong Kong Shandong Province PRC |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | extremevision.com.cn |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | Innovax Capital Limited Tricor Investor Services Limited |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | 18C |
|---|---|
| Offer Price | HK$ 40.00 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 50 shares |
| Entry Threshold | HK$ 2,000 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-03-20 to 2026-03-25 |
| Global Offering Shares | 12,480,000 shares |
| HK Public Offer Shares (Initial) | 624,000 shares (5.0%) |
| Public Offer Lots (Initial) | 12,480lots (Pool A6,240lots，Pool B6,240lots) |
| International Placing Shares (Initial) | 11,856,000 shares (95.0%) |
| Offer Ratio | ~11.05% |
| Total Shares Post-IPO | 112,914,783 shares |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 9.5% |
| Clawback Tiers | Clawback tier B |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 499,200,000 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 50 | HK$ 2,000 |
| 2 lots | 100 | HK$ 4,000 |
| 3 lots | 150 | HK$ 6,000 |
| 4 lots | 200 | HK$ 8,000 |
| 5 lots | 250 | HK$ 10,000 |
| 6 lots | 300 | HK$ 12,000 |
| 7 lots | 350 | HK$ 14,000 |
| 8 lots | 400 | HK$ 16,000 |
| 9 lots | 450 | HK$ 18,000 |
| 10 lots | 500 | HK$ 20,000 |
| 12 lots | 600 | HK$ 24,000 |
| 14 lots | 700 | HK$ 28,000 |
| 16 lots | 800 | HK$ 32,000 |
| 18 lots | 900 | HK$ 36,000 |
| 20 lots | 1,000 | HK$ 40,000 |
| 30 lots | 1,500 | HK$ 60,000 |
| 40 lots | 2,000 | HK$ 80,000 |
| 50 lots | 2,500 | HK$ 100,000 |
| 60 lots | 3,000 | HK$ 120,000 |
| 70 lots | 3,500 | HK$ 140,000 |
| 80 lots | 4,000 | HK$ 160,000 |
| 90 lots | 4,500 | HK$ 180,000 |
| 100 lots | 5,000 | HK$ 200,000 |
| 120 lots | 6,000 | HK$ 240,000 |
| 140 lots | 7,000 | HK$ 280,000 |
| 160 lots | 8,000 | HK$ 320,000 |
| 180 lots | 9,000 | HK$ 360,000 |
| 200 lots | 10,000 | HK$ 400,000 |
| 400 lots | 20,000 | HK$ 800,000 |
| 600 lots | 30,000 | HK$ 1,200,000 |
| 800 lots | 40,000 | HK$ 1,600,000 |
| 1,000 lots | 50,000 | HK$ 2,000,000 |
| 1,200 lots | 60,000 | HK$ 2,400,000 |
| 1,400 lots | 70,000 | HK$ 2,800,000 |
| 1,600 lots | 80,000 | HK$ 3,200,000 |
| 1,800 lots | 90,000 | HK$ 3,600,000 |
| 2,000 lots | 100,000 | HK$ 4,000,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 3,000 lots | 150,000 | HK$ 6,000,000 |
| 4,000 lots | 200,000 | HK$ 8,000,000 |
| 5,000 lots | 250,000 | HK$ 10,000,000 |
| 6,240 lots | 312,000 | HK$ 12,480,000 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 9.13B |
|---|---|
| Analysis Result | Already included in Stock Connect (both) |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 4,516,591,320 |
|---|---|
| H-Share Market Cap (at Offer Price) | HK$ 4,494,097,440 |
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not applicable (loss-making) |
| Profit/Loss Status | Net profit RMB 8.7 million |
| Period-End Cash Balance | RMB 11.5 million |
| Listing Expenses | ~HK$ 64,200,000 |
| Listing Expenses / Funds Raised | ~13.0% |
| Total Pre-IPO Investment | RMB 500.71 million |
| First Day Close | HK$ 100.0 |
|---|---|
| First Day Open | HK$ 59.95 |
| First Day Change | 150.00% |
| First Day Volume | 8025930.0 |
| First Day Turnover | 579463000.0 |
| Use of Proceeds | 1、約60.0%或260.6百萬港元，將用于增強公司的研發能力；
2、約30.0%或130.3百萬港元，將用于提升公司的商業化能力；
3、約43.4百萬港元（不超過10.0%），將用于提供營運資金及一般企業用途。 |
Underwriting Syndicate
Sole Sponsor (1)
CITIC Securities (Hong Kong) Limited CE AAK249(sole)
Sponsor cum Overall Coordinator (1)
CLSA LIMITED CE AAB893
Overall Coordinators (1)
CLSA LIMITED CE AAB893
Joint Global Coordinators (1)
CLSA LIMITED CE AAB893
Joint Bookrunners (7)
Joint Lead Managers (7)
CLSA LIMITED CE AAB893
CMB International Capital Limited CE AVM940
ABCI Securities Company Limited CE ACX411
SDIC SECURITIES (HONG KONG) LIMITED CE AUW685
Guosen Securities (HK) Brokerage Company, Limited CE AUI491
Livermore Holdings Limited CE BJN764
China Sunrise Securities (International) Limited CE AFS030
Capital Market Intermediaries (8)
CLSA LIMITED CE AAB893
CMB International Capital Limited CE AVM940
ABCI CAPITAL LIMITED CE AWL249
ABCI Securities Company Limited CE ACX411
SDIC SECURITIES (HONG KONG) LIMITED CE AUW685
Guosen Securities (HK) Brokerage Company, Limited CE AUI491
Livermore Holdings Limited CE BJN764
China Sunrise Securities (International) Limited CE AFS030
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company | 嘉源律师事务所 |
| Legal Advisor to Sponsors/Underwriters | 海问律师事务所 |
| Auditor and Reporting Accountant | 安永会计师事务所 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| Receiving Banks |
中信银行（国际）有限公司 Standard Chartered Bank (Hong Kong) Limited 招商永隆银行有限公司 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | 基石投资者（港元）(1) 数目(2) 百分比百分比政金国际 | 45,200,000 HKD | 1,130,000 | 9.06% | 1.00% | 6 months | 2026-09-30 |
| 2 | GKI | 2,000,000 HKD | 50,000 | 0.40% | 0.05% | 6 months | 2026-09-30 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | Mr. Chan Chan Kit | Mr. Chan Chan Kit |
| Company Secretary | 徐雷 | — |
| Executive Director | 陈振杰 | CHAN Chan Kit |
| Independent Non-Executive Director | 牛保庄 | NIU Baozhuang |
| Executive Director | 罗韵 | LUO Yun |
| Independent Non-Executive Director | 刘世杰 | LIU Shijie |
| Executive Director | 陈硕 | CHEN Shuo |
| Independent Non-Executive Director | 李昌振 | LI Changzhen |
| Independent Non-Executive Director | 张之杰 | CHEUNG Che Kit Richard |
Major Shareholders
| Major Shareholders & Holdings | Mr. Chen (beneficial owner and interests in controlled entities) in aggregate holds approximately 22.64% of the equity interests; 橫琴極力 holds approximately 8.37% of the equity interests; 深圳市中美創興資本管理有限公司 (interests in controlled entities) holds approximately 9.53% of the equity interests. |
|---|
AI
AI Analysis
AI interpretation
deepseek-v4-pro · AI-generated
Market Sentiment
Extreme retail enthusiasm drove an oversubscription ratio of 4591.37x, far surpassing typical hot IPO levels. Despite the frenzy, the overall hit rate of 21.33% is relatively high, indicating that many small applicants received allocations, while the final offer price of HK$40.0 suggests stable pricing. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
An unusual inefficiency appears at the tier boundary: the last A-tier expected 0.4485 lots on a 100,000‑lot application, while the first B‑tier expected only 0.4001 lots on a larger 150,000‑lot application. This tiny edge for smaller applicants implies that applying as A‑tail yields better per‑lot allocation than B‑head, potentially making it a more cost‑effective choice after broker fees. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
Mainland investors dominated at 71.5% of total holders, reinforcing the stock’s appeal among tech‑savvy cross‑border participants. The applicant pool skewed male (60.5%) with an average age of 41.8, a demographic profile often seen in speculative AI listings. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
