Guangzhou Huigu New Material Technology Co., Ltd. Announcement of Initial Public Offering and Listing on the ChiNext Market Sponsor (Lead Underwriter): CITIC Securities Co., Ltd.
Special Notice
Guangzhou Huigu New Material Technology Co., Ltd. (hereinafter referred to as "Huigu New Material," "Issuer," or "Company") is conducting an initial public offering (IPO) and listing on the ChiNext market in accordance with the "Administrative Measures for the Issuance and Underwriting of Securities," the "Administrative Measures for the Registration of Initial Public Offerings of Shares," the "Implementation Rules for the Issuance and Underwriting of Securities for Initial Public Offerings on the Shenzhen Stock Exchange (2025 Revision)," and other relevant laws, regulations, and regulatory requirements.
CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities," "Sponsor (Lead Underwriter)," or "Lead Underwriter") serves as the sponsor and lead underwriter for this offering.
Strategic placement for this offering is conducted by the Sponsor (Lead Underwriter). Preliminary inquiries and offline issuance are conducted through the Shenzhen Stock Exchange (SZSE) offline issuance electronic platform and the registration and settlement platform of China Securities Depository and Clearing Corporation (CSDC) Shenzhen Branch. Online issuance is conducted through the SZSE trading system.
The issue price of 78.38 RMB per share corresponds to a price-to-earnings (P/E) ratio of 34.91 times (based on 2024 net profit attributable to shareholders of the parent company after non-recurring gains and losses), which is lower than the average static P/E ratio of 35.59 times for the "C26 Chemical Raw Materials and Chemical Products Manufacturing" industry as of March 16, 2026. Investors are advised to pay close attention to investment risks and exercise caution in making investment decisions.
Investors should focus on the issuance process, online and offline subscription and payment, and the handling of abandoned shares.
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This offering combines targeted placement to strategic investors ("Strategic Placement"), inquiry-based placement to qualified offline investors ("Offline Issuance"), and priced issuance to public investors holding non-restricted A-share market value in Shenzhen ("Online Issuance").
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Following the preliminary inquiry, the Issuer and the Lead Underwriter excluded 353 placing objects that did not meet requirements, representing 130.96 million shares, or approximately 2.9932% of the total proposed subscription volume. Excluded parties may not participate in offline or online subscriptions.
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Based on the preliminary inquiry results, the Issuer and the Lead Underwriter have determined the issue price to be 78.38 RMB per share. No further cumulative bidding will be conducted for the offline issuance.
Investors shall subscribe online and offline on March 20, 2026 (T-day) at this price without paying subscription funds upfront. Offline subscription hours are 09:30-15:00; online subscription hours are 09:15-11:30 and 13:00-15:00.
- The issue price of 78.38 RMB per share does not exceed the lower of the median and weighted average of offline investor quotes (after excluding the highest quotes) and the median and weighted average of quotes from public funds, social security funds, pension funds, annuity funds, insurance funds, and qualified foreign investor funds. Consequently, the sponsor's subsidiary, CITIC Securities Investment Co., Ltd., is not required to participate in the strategic placement.
The strategic investors are the special asset management plans for senior management and core employees of the Issuer ("Huigu Employee Asset Management Plans"). These plans were allocated a total of 703,036 shares, accounting for approximately 4.46% of the total issuance. The initial strategic placement volume was 2,366,865 shares (15.00%); the difference of 1,663,829 shares has been clawed back to the offline issuance.
- Lock-up arrangements: Shares issued online have no lock-up period. For the offline issuance, 10% of the allocated shares for each placing object are subject to a 6-month lock-up period starting from the listing date. The remaining 90% are tradable upon listing. Strategic placement shares are subject to a 12-month lock-up period.