Core Insights - In February 2026, 19 Chinese companies successfully completed IPOs across A-shares, Hong Kong, and US markets, raising a total of 467.83 billion yuan, a year-on-year increase of 20.46 times and a month-on-month increase of 9.21% [6][8] - The number of IPOs increased by 1.11 times year-on-year but decreased by 13.64% month-on-month, with the Hong Kong Stock Exchange leading in both the number of IPOs and fundraising amounts [6][19] - The first-day IPO failure rate for Chinese companies was 0%, marking two consecutive months without any failures [11] Group 1: IPO Market Overview - In February 2026, the A-share market saw 8 companies go public, with a total fundraising of 60.76 billion yuan, a year-on-year increase of 53.74 times but a month-on-month decrease of 32.88% [14] - The Hong Kong market had 11 IPOs, raising 407.07 billion yuan, a year-on-year increase of 23.40 times and a month-on-month increase of 20.73% [19] - The US market saw no Chinese IPOs in February 2026, continuing a trend of limited activity in recent months [24] Group 2: IPO Performance Metrics - The top-performing IPO in February 2026 was "电科蓝天," which saw a first-day increase of 596.30% [12] - Seven companies had first-day price increases between 0% and 50%, while five companies had increases between 50% and 100% [11] - The average return on investment for VC/PE-backed IPOs was 1.93 times, a decrease of 36.30% year-on-year [27] Group 3: Industry and Regional Analysis - The advanced manufacturing sector led in fundraising, raising 134.93 billion yuan, accounting for 28.84% of total fundraising [38] - Guangdong province had the highest number of IPOs at 5, raising 170.47 billion yuan, followed by Zhejiang and Jiangsu [46] - The number of IPOs from the advanced manufacturing and healthcare sectors increased by 4 companies year-on-year, showing significant growth [42] Group 4: Notable IPO Cases - "牧原股份" raised 94.89 billion yuan, the highest among all IPOs in February 2026 [55] - "易思维" focused on automotive manufacturing machine vision solutions, raised 13.99 billion yuan, and had significant VC/PE backing [59][60] - The top 10 IPOs by fundraising included companies from various sectors, highlighting the diversity of the market [55][56]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 WUXI LEAD INTELLIGENT EQUIPMENT CO., LTD. 無錫先導智能裝備股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 董事會會議日期 無錫先導智能裝備股份有限公司（「本公司」）董事會（「董事會」）茲宣佈，將於 2026年3月30日（星期一）舉行董事會會議，以（其中包括）審議及批准本公司及其 附屬公司截至2025年12月31日止年度的年度業績及其發佈，以及審議派付末期股 息的建議（如有）。 承董事會命 無錫先導智能裝備股份有限公司 董事長、執行董事兼首席執行官 王燕清先生 香港，2026年3月16日 於本公告日期，董事會包括：(i)執行董事王燕清先生、王建新先生、尤志良先生 及王磊先生；及(ii)獨立非執行董事張明燕女士、戴建軍先生及黃斯穎女士。 （股份代號：0470） ...

12 March 2026 Dear non-registered shareholder(s), Arrangement of Electronic Dissemination of Corporate Communications Pursuant to Rule 2.07A of the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") under the expansion of paperless listing regime and electronic dissemination of corporate communications that came into effect on 31 December 2023, Wuxi Lead Intelligent Equipment Co., Ltd. (the "Company") is writing to inform you that the Company has adopt ...

12 March 2026 Solicitation of electronic contact details To ensure timely receipt of future Actionable Corporate Communications (Note), the Company recommends you provide your email address by scanning your personalized QR code printed on the enclosed reply form (the "Reply Form"). Alternatively, you may sign and return the Reply Form to the Company's H Share Registrar (the "H Share Registrar"), Computershare Hong Kong Investor Services Limited, at 17M Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai ...

FF305 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 H | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 00470 | 說明 H股 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | 每股發行/出售價 (註4) | | 已發行股份總數 | | 於下列日期開始時的結存(註1) | 2026年2月28日 | 107,658,400 | | 0 | | | 107,658,400 | | 1). 其他 (請註明) | | 400,000 | 0.37 % | 0 HKD | | 45.8 | | | 於 2026年3月11日根據部分行使超額配股權而發行及配發之400, ...

Summary of Lead Intelligent (300450.SZ) Conference Call Company Overview - **Company**: Lead Intelligent - **Industry**: Battery Equipment Manufacturing Key Points Order Growth and Demand - Lead Intelligent anticipates new orders growth in 2026 could exceed 50% year-over-year, significantly higher than the company's guidance of 30% [2][3] - Strong order trends were noted in Q1 2026, with total new orders for January-February surpassing those of Q1 2025 [2][3] - Major contributions to order growth are expected from top-tier customers like CATL and BYD, with CATL projected to account for over 25% of total battery equipment orders in 2025 [3] Market Dynamics - The company expects a balanced split of orders between energy storage systems (ESS) and power batteries in the second half of 2026, contrasting with a 30/70 split in 2025 [3] - Lead Intelligent sees a sustainable upcycle in battery equipment, with sequential growth anticipated each quarter based on order visibility of 6-9 months for domestic and 12-18 months for overseas customers [2][3] Full Solid-State Battery Equipment - The company forecasts a shipment growth of 70%-80% year-over-year for full solid-state battery equipment, with an expected order value of RMB 1 billion in 2025 [6] - Current average selling prices (ASP) for full solid-state battery equipment are around RMB 500 million per GWh, potentially decreasing to RMB 400 million as production scales [6] Competitive Positioning - Lead Intelligent is positioned as a leading manufacturer with a 25% global market share in lithium-ion battery intelligent equipment [12] - The company is confident in its technology competitiveness, particularly in full solid-state production lines, and is deepening relationships with Japanese and Korean battery manufacturers [6] Financial Outlook - ASPs have recovered since 2025, with domestic and overseas ASPs at RMB 100-150 million and RMB 200-300 million per GWh, respectively [8] - The company expects sequentially higher gross profit margins (GPM) from Q1 to Q4 2026, although actual margins will depend on customer delivery timelines [8] New Product Development - Lead Intelligent is exploring new orders in photovoltaic (PV) solar equipment and humanoid robot manufacturing equipment, although these initiatives are still in early stages [9] - The company has been approached by US customers for solar equipment, indicating potential growth in this segment [9] Investment Risks - The global battery equipment total addressable market (TAM) may decelerate due to domestic battery oversupply and reduced overseas expansion targets [12] - Risks include potential order cancellations, cash collection issues, and working capital pressures, particularly in light of past impairments during downturns [12] Price Target and Valuation - The 12-month price target for Lead Intelligent is set at RMB 47.20, based on a 2026E P/E of 20x, with a current price of RMB 50.14 indicating a downside of 5.9% [13][14] Conclusion - Lead Intelligent is positioned for significant growth in the battery equipment sector, driven by strong demand from top-tier customers and advancements in solid-state battery technology. However, potential market risks and valuation compression should be closely monitored.

香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算有限公司 （「香港結算」）對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表 示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 除本公告另有界定者外，本公告所用詞彙與無錫先導智能裝備股份有限公司（「本公司」）日期為 2026年2月3日的招股章程（「招股章程」）所界定者具有相同涵義。 本公告乃根據香港法例第571W章《證券及期貨（穩定價格）規則》第9(2)條作出。本公告僅供參 考，並不構成任何人士收購、購買或認購任何證券的邀請或要約。本公告並非招股章程。有意 投資者於決定是否投資於發售股份前，務請細閱招股章程，以獲得下文所述有關全球發售的詳 細資料。 本公告不得直接或間接於或向美國（包括其領土及屬地、美國任何州以及哥倫比亞特區）發佈、 刊發或派發。本公告並不構成在美國或任何其他司法管轄區境內購買或認購發售股份的任何要 約或招攬或組成其一部分。發售股份並無亦不會根據《1933年美國證券法》（經不時修訂）（「《美 國證券法》」）或美國任何州或其他司法管轄區證券法登記。發售股份不得在美 ...

截至月份: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 無錫先導智能裝備股份有限公司 呈交日期: 2026年3月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00470 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 107,658,400 | RMB | | 1 | RMB | | 107,658,400 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 107,658,400 | RMB | | | 1 RMB | | 107,658,400 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | ...

Group 1 - JPMorgan Chase & Co. increased its stake in XianDao Intelligent (00470.HK) by purchasing 720,700 shares at an average price of HKD 45.4397 per share, totaling approximately HKD 32.7484 million [1] - Following this transaction, JPMorgan's total holdings in XianDao Intelligent rose to 32,977,099 shares, increasing its ownership percentage from 29.96% to 30.63% [1]

Group 1 - JPMorgan Chase & Co. increased its stake in XianDao Intelligent (00470.HK) by purchasing 720,700 shares at an average price of HKD 45.4397 per share, totaling approximately HKD 32.7484 million [1] - Following the purchase, JPMorgan's total holdings in XianDao Intelligent rose to 32,977,099 shares, increasing its ownership percentage from 29.96% to 30.63% [1]