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 | Eacon |
|---|---|
| Stock Code | 07687 |
| Company Full Name | EACON Group Co., Ltd |
| Industry | Consumer Discretionary |
| Principal Activities | Focused on the commercial deployment of autonomous driving solutions for mining areas in the mining industry, providing closed-environment autonomous mining truck products and solutions (著山) and digitalization solutions for mining areas (暮野). |
| Listing Date | 2026-07-08 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 福建省上杭縣三環北路1號紫金礦業總部大樓8樓 |
| Business Address (Hong Kong) | 香港灣仔皇后大道東183號合和中心46樓 |
| Place of Incorporation | China |
| Listing Method | Global Offering |
| Listing Board | Main Board |
| Website | eacon.com |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | Computershare |
| A-Share/US Dual Listing | No |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 87.92 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 50 shares |
| Entry Threshold | HK$ 4,396 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-06-29 to 2026-07-03 |
| Global Offering Shares | 26,132,000 shares |
| HK Public Offer Shares (Initial) | 2,613,200 shares (10.0%) |
| Public Offer Lots (Initial) | 52,264lots (Pool A26,132lots，Pool B26,132lots) |
| International Placing Shares (Initial) | 23,518,800 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 147,869,769 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | 海通国际资本有限公司 CE ADQ859 |
| Cornerstone Share | 50.0% |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 2,297,525,440 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 50 | HK$ 4,396 |
| 2 lots | 100 | HK$ 8,792 |
| 3 lots | 150 | HK$ 13,188 |
| 4 lots | 200 | HK$ 17,584 |
| 5 lots | 250 | HK$ 21,980 |
| 6 lots | 300 | HK$ 26,376 |
| 7 lots | 350 | HK$ 30,772 |
| 8 lots | 400 | HK$ 35,168 |
| 9 lots | 450 | HK$ 39,564 |
| 10 lots | 500 | HK$ 43,960 |
| 12 lots | 600 | HK$ 52,752 |
| 14 lots | 700 | HK$ 61,544 |
| 16 lots | 800 | HK$ 70,336 |
| 18 lots | 900 | HK$ 79,128 |
| 20 lots | 1,000 | HK$ 87,920 |
| 30 lots | 1,500 | HK$ 131,880 |
| 40 lots | 2,000 | HK$ 175,840 |
| 50 lots | 2,500 | HK$ 219,800 |
| 60 lots | 3,000 | HK$ 263,760 |
| 70 lots | 3,500 | HK$ 307,720 |
| 80 lots | 4,000 | HK$ 351,680 |
| 90 lots | 4,500 | HK$ 395,640 |
| 100 lots | 5,000 | HK$ 439,600 |
| 120 lots | 6,000 | HK$ 527,520 |
| 140 lots | 7,000 | HK$ 615,440 |
| 160 lots | 8,000 | HK$ 703,360 |
| 180 lots | 9,000 | HK$ 791,280 |
| 200 lots | 10,000 | HK$ 879,200 |
| 400 lots | 20,000 | HK$ 1,758,400 |
| 600 lots | 30,000 | HK$ 2,637,600 |
| 800 lots | 40,000 | HK$ 3,516,800 |
| 1,000 lots | 50,000 | HK$ 4,396,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 2,000 lots | 100,000 | HK$ 8,792,000 |
| 3,000 lots | 150,000 | HK$ 13,188,000 |
| 4,000 lots | 200,000 | HK$ 17,584,000 |
| 8,000 lots | 400,000 | HK$ 35,168,000 |
| 12,000 lots | 600,000 | HK$ 52,752,000 |
| 16,000 lots | 800,000 | HK$ 70,336,000 |
| 20,000 lots | 1,000,000 | HK$ 87,920,000 |
| 26,132 lots | 1,306,600 | HK$ 114,876,272 |
Stock Connect Inclusion Analysis
| 26Q4 Regular Review | |
| Inclusion Pathway | Regular Path |
|---|---|
| HK Market Cap | HK$ 10.28B |
| Est. Threshold | HK$ 9.44B |
| Analysis Result | HK market cap met, expected inclusion ~2027-03-08 |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 12,499,910,271 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not applicable (loss-making) |
| Profit/Loss Status | Net loss RMB 515.6 million |
| Period-End Cash Balance | RMB 117.5 million |
| Listing Expenses | ~HK$ 137,600,000 |
| Listing Expenses / Funds Raised | ~6.2% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | Loading... |
|---|---|
| Use of Proceeds | Approximately 35% will be used for software research and development, approximately 15% for hardware research and development, approximately 4% for information technology development, approximately 23% for expanding application scenarios and unlocking new markets, approximately 8% for talent investment, approximately 5% for strategic cooperation and targeted acquisitions, and approximately 10% for working capital and general corporate purposes. |
Underwriting Syndicate
Sole Sponsor (1)
海通国际资本有限公司 CE ADQ859(sole)
Sponsor cum Overall Coordinator (1)
海通国际证券有限公司 CE AAF806
Joint Global Coordinators (6)
Joint Bookrunners (8)
海通国际证券有限公司 CE AAF806
MACQUARIE CAPITAL LIMITED CE AAC534
CLSA LIMITED CE AAB893
MIZUHO SECURITIES ASIA LIMITED CE AEZ953
CMB International Capital Limited CE AVM940
CHINA INDUSTRIAL SECURITIES INTERNATIONAL CAPITAL LIMITED CE BAK956
Futu Securities International (HONG KONG) Limited CE AZT137
TIGER BROKERS (HK) GLOBAL LIMITED CE BMU940
Joint Lead Managers (8)
海通国际证券有限公司 CE AAF806
MACQUARIE CAPITAL LIMITED CE AAC534
CLSA LIMITED CE AAB893
MIZUHO SECURITIES ASIA LIMITED CE AEZ953
CMB International Capital Limited CE AVM940
CHINA INDUSTRIAL SECURITIES INTERNATIONAL CAPITAL LIMITED CE BAK956
Futu Securities International (HONG KONG) Limited CE AZT137
TIGER BROKERS (HK) GLOBAL LIMITED CE BMU940
Capital Market Intermediaries (8)
海通国际证券有限公司 CE AAF806
MACQUARIE CAPITAL LIMITED CE AAC534
CLSA LIMITED CE AAB893
MIZUHO SECURITIES ASIA LIMITED CE AEZ953
CMB International Capital Limited CE AVM940
CHINA INDUSTRIAL SECURITIES INTERNATIONAL CAPITAL LIMITED CE BAK956
Futu Securities International (HONG KONG) Limited CE AZT137
TIGER BROKERS (HK) GLOBAL LIMITED CE BMU940
Stabilizing Manager (1)
海通国际资本有限公司 CE ADQ859
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
Davis Polk & Wardwell Zhong Lun Law Firm Morgan, Lewis & Bockius LLP |
| Legal Advisor to Sponsors/Underwriters |
天元律师事务所（有限法律责任合伙） Tian Yuan Law Firm |
| Auditor and Reporting Accountant | 德勤•关黄陈方会计师行 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司 |
| Compliance Advisor | 国泰君安融资有限公司 CE AGS488 |
| Receiving Banks |
中信银行（国际）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 | ZIJINNING | 19,310,000 USD | 1,789,900 | 6.85% | 5.96% | 6 months | 2027-01-08 |
| 2 | Aurora SF（就安排而言） | 14,480,000 USD | 1,342,400 | 5.14% | 4.47% | 6 months | 2027-01-08 |
| 3 | 富達國際 | 28,970,000 USD | 2,684,850 | 10.27% | 8.93% | 6 months | 2027-01-08 |
| 4 | JPMAMAPL | 24,140,000 USD | 2,237,400 | 8.56% | 7.45% | 6 months | 2027-01-08 |
| 5 | 霸菱 | 14,480,000 USD | 1,342,400 | 5.14% | 4.47% | 6 months | 2027-01-08 |
| 6 | Indus Funds | 9,660,000 USD | 894,950 | 3.42% | 2.98% | 6 months | 2027-01-08 |
| 7 | Jain Global | 9,660,000 USD | 894,950 | 3.42% | 2.98% | 6 months | 2027-01-08 |
| 8 | REGAL | 7,720,000 USD | 715,950 | 2.74% | 2.38% | 6 months | 2027-01-08 |
| 9 | 廣發基金 | 4,830,000 USD | 447,400 | 1.71% | 1.49% | 6 months | 2027-01-08 |
| 10 | CDH | 4,830,000 USD | 447,400 | 1.71% | 1.49% | 6 months | 2027-01-08 |
| 11 | Seven Grand | 2,900,000 USD | 268,400 | 1.03% | 0.89% | 6 months | 2027-01-08 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | 張磊 | — |
| Company Secretary | 廖璡 | — |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | Mr. Lam, Mr. Cheung, the entity controlled by Mr. Cheung, Ms. Lau and Jiaxing Zhitao collectively hold approximately 42.75% of the equity interests. |
|---|
