Group 1 - The core viewpoint of the article highlights the successful IPO of three companies on the Hong Kong Stock Exchange, with Red Star Cold Chain experiencing significant market interest and a strong first-day performance [2] - Red Star Cold Chain's IPO involved a global offering of 23.263 million shares, with a public offering in Hong Kong of 2.3265 million shares at an issue price of HKD 12.26 per share, raising approximately HKD 252 million after expenses [2] - The company plans to allocate about 57.5% of the net proceeds to build new processing plants and expand cold storage warehouses, while approximately 12.8% will be used to upgrade existing equipment and IT infrastructure [2] Group 2 - The market showed strong subscription demand for Red Star Cold Chain, with the Hong Kong public offering receiving a subscription rate of 2,309.25 times and the international offering achieving a subscription rate of 1.65 times [2] - The shareholding structure indicates a high concentration, with the top 25 shareholders holding 90.2% of the issued shares post-IPO [2][3] - Red Star Cold Chain provides cold storage services and rental services for frozen food stores, connecting wholesalers and retailers in the frozen food supply chain, serving over 700 clients as of June 30, 2025 [4] Group 3 - The company's revenue figures for the years 2022 to 2025 show fluctuations, with revenues of RMB 237 million, RMB 202 million, RMB 234 million, and RMB 118 million for the respective years, while profits have varied, with a decline to RMB 39.68 million in the first half of 2025 [4] - Notably, Red Star Cold Chain has distributed approximately RMB 240 million in dividends from 2022 to the first half of 2025, representing about 86.6% of net profits during the same period, with a 100% dividend payout ratio in the first half of 2025, raising discussions about its "dividend-first, financing-later" strategy [4]

Core Viewpoint - Red Star Cold Chain (1641.HK) made its debut on the Hong Kong Stock Exchange, opening at a 59.71% increase to HKD 19.58 per share [1] Group 1: IPO Details - The company offered a total of 23.263 million shares globally, with 10% allocated for public offering in Hong Kong [1] - The IPO was priced at HKD 12.26 per share, aiming to raise a maximum of HKD 285 million [1]

Core Viewpoint - Hongxing Cold Chain (01641) has successfully listed its shares at a price of HKD 12.26, raising approximately HKD 252 million, with a significant initial trading increase of 59.71% to HKD 19.58 [1] Company Overview - Hongxing Cold Chain is headquartered in Changsha, Hunan Province, specializing in frozen food trading platforms and cold storage services [1] - The company is the largest service provider in the central region of China and Hunan Province in the frozen food storage service sector, holding market shares of 2.6% and 13.6% respectively [1] - In the frozen food store leasing service sector, Hongxing Cold Chain ranks as the second largest in the central region and the largest in Hunan Province, with market shares of 8.8% and 54.7% respectively [1] Operational Capacity - The company has established two major storage bases in Changsha, with a total designed storage capacity exceeding 1 million cubic meters and usable storage capacity of over 230,000 tons [1] - This scale provides a significant competitive advantage, making Hongxing Cold Chain the largest cold chain storage service provider in the central region and Hunan, serving over 700 clients and extending its business across eight provinces nationwide [1]

Group 1 - The core point of the article is that the new stock Hongxing Cold Chain was listed on the Hong Kong Stock Exchange and experienced a significant opening increase of 59.71% [1] - At the opening, the stock price reached 19.58 Hong Kong dollars, indicating strong investor interest [1] - The current total market capitalization of Hongxing Cold Chain is 1.4685 billion Hong Kong dollars, reflecting its initial market performance [1]

Core Viewpoint - Hongxing Cold Chain (01641) has successfully listed, with shares priced at HKD 12.26, raising approximately HKD 252 million, and has seen a significant increase of 59.71% to HKD 19.58 at the time of reporting [1] Company Overview - Hongxing Cold Chain is headquartered in Changsha, Hunan Province, specializing in frozen food trading platforms and cold storage services [1] - According to a report by Zhi Shi Consulting, the company is the largest service provider in the cold storage sector in Central China and Hunan Province, with market shares of 2.6% and 13.6% respectively, based on 2024 revenue [1] - In the frozen food store leasing service sector, Hongxing Cold Chain ranks as the second largest in Central China and the largest in Hunan Province, holding market shares of 8.8% and 54.7% respectively [1] Operational Capacity - The company has established two major storage bases in Changsha, with a total designed storage capacity exceeding 1 million cubic meters and usable storage capacity of over 230,000 tons [1] - This scale provides a significant competitive advantage, making Hongxing Cold Chain the largest cold chain storage service provider in Central China and Hunan, serving over 700 clients and extending its business across eight provinces nationwide [1]

Group 1 - The company announced the results of its global offering, issuing 23.263 million H-shares, with 10% allocated to the Hong Kong public offering and 90% to international offering [1] - The offer price per share was set at HKD 12.26, resulting in net proceeds of approximately HKD 252 million from the global offering [1] - The H-shares are expected to commence trading on the Hong Kong Stock Exchange on January 13, 2026, at 9:00 AM [1] Group 2 - The Hong Kong public offering was oversubscribed by 2,309.25 times, while the international offering was oversubscribed by 1.65 times [1]

Group 1 - The company, Red Star Cold Chain (01641), announced the results of its share allocation, with a total global offering of 23.263 million H-shares [1] - The offering price per share was set at HKD 12.26, resulting in a net fundraising of approximately HKD 252 million [1] - The shares are expected to commence trading on the Hong Kong Stock Exchange on January 13, 2026, at 9:00 AM [1] Group 2 - The Hong Kong public offering was oversubscribed by 2,309.25 times, indicating strong demand from local investors [1] - The international offering was oversubscribed by 1.65 times, reflecting interest from global investors [1]

Group 1 - The company, Red Star Cold Chain (01641), announced the results of its share allocation, with a total of 23.263 million H-shares being globally offered [1] - The offering price per share was set at HKD 12.26, resulting in a net fundraising of approximately HKD 252 million from the global offering [1] - The Hong Kong public offering was oversubscribed by 2,309.25 times, while the international offering was oversubscribed by 1.65 times [1] Group 2 - The Hong Kong public offering accounted for 10% of the total shares, while the international offering made up 90% [1] - Each lot consists of 500 shares, and trading of the H-shares is expected to commence on January 13, 2026, at 9:00 AM on the Hong Kong Stock Exchange [1]

Group 1 - The company, Red Star Cold Chain (01641.HK), announced a global offering of 23,263,000 H-shares at a price of HKD 12.26 per share, with a net proceeds of HKD 252 million [1] - The public offering in Hong Kong accounted for 10.00% of the total shares offered, receiving a subscription rate of 2,309.25 times; the international offering made up 90.00% of the total shares, with a subscription rate of 1.65 times [1] - If the global offering becomes unconditional by January 13, 2026, the H-shares are expected to commence trading on the Hong Kong Stock Exchange at 9:00 AM (Hong Kong time) on the same day, with a trading unit of 500 shares [1]

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