Group 1: LeMo Technology IPO - LeMo Technology plans to globally offer 5.5556 million shares, with 555,600 shares for Hong Kong and 5 million shares for international investors [1] - The offering period is from November 25 to November 28, with a maximum offer price of HKD 40.00 per share and an entry fee of approximately HKD 4,040.35 [1] - The total expected fundraising amount is HKD 186 million, with a net amount of HKD 147 million, aimed at expanding service network coverage, enhancing technology, increasing brand awareness, and general corporate purposes [1] Group 2: Jinyan Gaoling New Materials IPO - Jinyan Gaoling New Materials intends to globally offer 24.3 million shares, with 2.43 million shares for Hong Kong and 21.87 million shares for international investors, plus an over-allotment option of 3.645 million shares [2] - The offering period is also from November 25 to November 28, with a maximum offer price of HKD 7.30 per share and an entry fee of approximately HKD 3,686.82 [2] - The total expected fundraising amount is HKD 177 million, with a net amount of HKD 124 million, to be used for deep processing projects, establishing a research center, working capital, and repaying bank loans [2] Group 3: Mingyu Pharmaceutical Listing Application - Mingyu Pharmaceutical has submitted a listing application to the Hong Kong Stock Exchange, with joint sponsors including Morgan Stanley, Bank of America Securities, and CITIC Securities [3] - The company focuses on developing tumor therapies based on ADC platforms and PD-1/VEGF bispecific antibodies, with 13 candidate products in its pipeline, 10 of which are in clinical stages [3] - The listing aligns with the trend of innovative drugs and aims to capitalize on the company's pipeline and commercialization potential [3] Group 4: Kewang Pharmaceutical Listing Application - Kewang Pharmaceutical has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [4] - The company is a clinical-stage biopharmaceutical firm focused on developing next-generation cancer therapies through an understanding of the tumor microenvironment [4] - Its core product, ES102, is an advanced hexavalent OX40 agonist, currently one of only two OX40 agonist candidates in clinical development [4]

Core Viewpoint - LeMo Technology (02539.HK), a machine massage service provider from Fuzhou, Fujian, is launching its IPO from November 25 to November 28, 2025, with plans to list on the Hong Kong Stock Exchange on December 3, 2025 [3][4]. Group 1: IPO Details - The total number of shares offered globally is 5,555,600 H-shares, with 555,600 shares available for public sale in Hong Kong and 5,000,000 shares for international sale [1][4]. - The expected price range for the shares is between HKD 27.00 and HKD 40.00, with a maximum fundraising target of approximately HKD 2.22 billion [4][5]. - The initial allocation for public sale is set at 10%, with no over-allotment option available [5]. Group 2: Financial Projections and Use of Proceeds - Assuming a median offer price of HKD 33.50, the net proceeds from the IPO are estimated to be around HKD 147 million, with approximately 60% allocated for expanding service coverage, 20% for technology enhancement, 10% for brand promotion, and 10% for working capital and general corporate purposes [5]. - The total estimated listing expenses are around HKD 38.8 million, which includes underwriting commissions and various fees [5]. Group 3: Company Background and Market Position - Established in 2014, LeMo Technology launched the "LeMo Bar" brand in 2016, providing machine massage services in high-traffic public areas across China [6]. - According to Frost & Sullivan, LeMo Technology ranked first among machine massage service providers in mainland China by transaction volume, with market shares of 33.9%, 37.3%, and 42.9% for the years 2022 to 2024 [6]. - The company has established over 48,000 service points and deployed more than 535,000 massage machines, covering all 31 provincial-level administrative regions and 337 cities in mainland China, with over 174 million identifiable service users and more than 40 million registered members [6].

Lemo Services Co., Ltd 樂摩科技服務股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 股份代號 :2539 全球發售 聯席保薦人、整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 聯席賬簿管理人及聯席牽頭經辦人 樂摩科技服務股份有限公司 Lemo Services Co., Ltd 重要提示 重要提示： 閣下如對本招股章程的內容有任何疑問，應諮詢獨立專業人士的意見。 Lemo Services Co., Ltd 樂摩科技服務股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 全球發售 聯席保薦人、整體協調人、聯席全球協調人、 聯席賬簿管理人及聯席牽頭經辦人 聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 聯席賬簿管理人及聯席牽頭經辦人 香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司對本招股章程的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明 確表示不會就因本招股章程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。 本招股章程連同本招股章程附錄五「送呈公司註冊處處長 ...

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