IPO Timeline Raw facts
Company Overview
| Stock Name | Liuliumei |
|---|---|
| Stock Code | 06658 |
| Company Full Name | Liuliumei Co., Ltd. |
| Industry | Consumer Discretionary |
| Principal Activities | We are a fruit snack company focused on green plum products, and are also committed to promoting green plum culture and offering snack options containing natural ingredients. |
| Listing Date | 2026-06-15 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國安徽省蕪湖市繁昌區經濟開發區中江路3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 | China |
| Listing Method | Global Offering (Public Offer + International Placing) |
| Listing Board | Main Board |
| Website | liuliumei.com |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | 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 Listing | No |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 43.58 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 4,358 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-06-05 to 2026-06-10 |
| Global Offering Shares | 11,464,100 shares |
| HK Public Offer Shares (Initial) | 1,146,500 shares (10.0%) |
| Public Offer Lots (Initial) | 11,465lots (Pool A5,732lots，Pool B5,733lots) |
| International Placing Shares (Initial) | 10,317,600 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 78,811,208 shares |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 29.5% |
| Clawback Tiers | Mechanism B: no clawback mechanism |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 499,605,478 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 4,358 |
| 2 lots | 200 | HK$ 8,716 |
| 3 lots | 300 | HK$ 13,074 |
| 4 lots | 400 | HK$ 17,432 |
| 5 lots | 500 | HK$ 21,790 |
| 6 lots | 600 | HK$ 26,148 |
| 7 lots | 700 | HK$ 30,506 |
| 8 lots | 800 | HK$ 34,864 |
| 9 lots | 900 | HK$ 39,222 |
| 10 lots | 1,000 | HK$ 43,580 |
| 15 lots | 1,500 | HK$ 65,370 |
| 20 lots | 2,000 | HK$ 87,160 |
| 25 lots | 2,500 | HK$ 108,950 |
| 30 lots | 3,000 | HK$ 130,740 |
| 35 lots | 3,500 | HK$ 152,530 |
| 40 lots | 4,000 | HK$ 174,320 |
| 45 lots | 4,500 | HK$ 196,110 |
| 50 lots | 5,000 | HK$ 217,900 |
| 60 lots | 6,000 | HK$ 261,480 |
| 70 lots | 7,000 | HK$ 305,060 |
| 80 lots | 8,000 | HK$ 348,640 |
| 90 lots | 9,000 | HK$ 392,220 |
| 100 lots | 10,000 | HK$ 435,800 |
| 200 lots | 20,000 | HK$ 871,600 |
| 300 lots | 30,000 | HK$ 1,307,400 |
| 400 lots | 40,000 | HK$ 1,743,200 |
| 500 lots | 50,000 | HK$ 2,179,000 |
| 600 lots | 60,000 | HK$ 2,614,800 |
| 700 lots | 70,000 | HK$ 3,050,600 |
| 800 lots | 80,000 | HK$ 3,486,400 |
| 900 lots | 90,000 | HK$ 3,922,200 |
| 1,000 lots | 100,000 | HK$ 4,358,000 |
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,500 lots | 150,000 | HK$ 6,537,000 |
| 2,000 lots | 200,000 | HK$ 8,716,000 |
| 2,500 lots | 250,000 | HK$ 10,895,000 |
| 3,000 lots | 300,000 | HK$ 13,074,000 |
| 3,500 lots | 350,000 | HK$ 15,253,000 |
| 4,000 lots | 400,000 | HK$ 17,432,000 |
| 4,500 lots | 450,000 | HK$ 19,611,000 |
| 5,732 lots | 573,200 | HK$ 24,980,056 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 11.96B |
|---|---|
| Analysis Result | Already included in Stock Connect (both) |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 3,434,592,444 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Approximately 14.1x (based on offer price HK$43.58 and 2025 EPS) |
| Profit/Loss Status | Net profit RMB 182.1 million |
| Period-End Cash Balance | RMB 33.9 million |
| Listing Expenses | ~HK$ 59,500,000 |
| Listing Expenses / Funds Raised | ~11.9% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | Loading... |
|---|---|
| Use of Proceeds | Approximately 61.0% will be used to expand production capacity, approximately 21.0% will be used to enhance brand awareness, expand the sales network and develop international markets, approximately 8.0% will be used to recruit R&D personnel and advance R&D programs, and approximately 10.0% will be used as working capital and for general corporate purposes. |
Underwriting Syndicate
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
金杜律师事务所 锦天城律师事务所 |
| Legal Advisor to Sponsors/Underwriters |
高伟绅律师行 竞天公诚律师事务所 |
| 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 |
中国银行（香港）有限公司 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 | Wuhu Fanchang District Rural Revitalization Development Group (Hong Kong) Limited | 70,164,000 HKD | 1,610,000 | 14.04% | 2.04% | 6 months | 2026-12-15 |
| 2 | 达隆发展有限公司 | 10,000 USD | 1,777,100 | 15.50% | 2.26% | 6 months | 2026-12-15 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | 楊帆 | — |
| Company Secretary | 寧鵬飛 | — |
Major Shareholders
| Major Shareholders & Holdings | Mr. Yang Fan, Ms. Li Min, 聚潤投資, 凱旋之星 and 凱萊之星 are a group of controlling shareholders, holding in aggregate approximately 75.00% of the total issued share capital of the Company. |
|---|
Market Sentiment
The IPO saw an astronomical oversubscription ratio of 6586.73x, signaling extreme retail enthusiasm. The overall hit rate is a mere 6.35%, far below typical hot IPO norms, reflecting fierce competition for allocation. Such massive demand often results in a significant open discount for gray market or debut pricing, but no price range data is available to assess final pricing dynamics. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
The tier distribution shows a notable inefficiency: A-tail applicants (100,000 lots) expected only 0.1781 lots, while B-head applicants (150,000 lots) expected just 0.2218 lots, a mere 24.5% increase for 50% more capital. This near-flat expected allocation between these adjacent tiers indicates that upgrading from A-tail to B-head provides disproportionately low marginal benefit, making broker financing costs harder to justify. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Demographics
The provided demographic data shows 0% mainland China and 0% Hong Kong participation, which is highly anomalous and likely reflects incomplete or unreported breakdowns from the source. In typical consumer retail IPOs with such extreme oversubscription, mainland investor participation often dominates, but no reliable patterns can be drawn here. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
