Announcement of the Results of Initial Public Offering and Listing on the ChiNext Board
Sponsor (Lead Underwriter): CITIC Securities Co., Ltd.
Hangzhou Gaote Electronics Co., Ltd. (hereinafter referred to as "Gaote Electronics" or "the Issuer") has received approval from the Listing Review Committee of the Shenzhen Stock Exchange (hereinafter referred to as "SZSE") for its application for the initial public offering of RMB ordinary shares (A shares) and listing on the ChiNext Board (hereinafter referred to as "this issuance"). The registration has also been approved by the China Securities Regulatory Commission (hereinafter referred to as "CSRC") (License No. [2026]220). CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities," "Sponsor (Lead Underwriter)," or "Lead Underwriter") serves as the sponsor (lead underwriter) for this issuance. The stock abbreviation for the Issuer is "Gaote Electronics," and the stock code is "301669."
This issuance adopts a combination of targeted placement to strategic investors (hereinafter referred to as "strategic placement"), offline issuance to qualified investors through inquiry pricing (hereinafter referred to as "offline issuance"), and online issuance to public investors holding non-restricted A shares and non-restricted depository receipts in the Shenzhen market (hereinafter referred to as "online issuance"). The Issuer and the Lead Underwriter have agreed on an issuance price of RMB 7.08 per share, with a total of 120 million shares issued, all of which are new shares, with no transfer of old shares.
The issuance price does not exceed the lower of the median and weighted average of the offline investors' quotes after excluding the highest bid, as well as the median and weighted average of the quotes from public funds, national social security funds, basic pension insurance funds, enterprise annuity funds, occupational annuity funds, insurance funds, and qualified foreign investor funds after excluding the highest bid. Therefore, subsidiaries related to the Sponsor are not required to participate in this issuance's strategic placement.
The initial number of shares for strategic placement was 36 million shares, accounting for 30.00% of the total issuance. The final number of shares for strategic placement was 32.812425 million shares, approximately 27.34% of the total issuance. The difference of 3.187575 million shares between the initial and final strategic placement will be reallocated to the offline issuance. After the strategic placement reallocation and before the online and offline reallocation mechanism is activated, the initial offline issuance quantity is 70.387575 million shares, approximately 80.73% of the total issuance after deducting the final strategic placement quantity; the initial online issuance quantity is 16.800000 million shares, approximately 19.27% of the total issuance after deducting the final strategic placement quantity.