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，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 DAHON TECH (SHENZHEN) CO., LTD. 大 行 科 工（ 深 圳 ）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） 於本公告日期，本公司執行董事為韓德瑋博士、李桂玉女士、劉國存女士及李秀芬 女士；以及本公司獨立非執行董事為李勵生博士、劉學權先生及趙根生先生。 大行科工（深圳）股份有限公司（「本公司」）之董事會（「董事會」）謹此宣佈，本公司將 於2025年9月26日舉行董事會會議，藉以考慮及批准（其中包括）本公司及其附屬公 司截至2025年6月30日止六個月的中期業績、其發佈、宣派及派付中期股息（如 有），以及處理任何其他事宜。 承董事會命 大行科工（深圳）股份有限公司 執行董事兼董事會主席 韓德瑋博士 香港，2025年9月16日 （股份代號：2543） 董事會會議通告 ...

Core Viewpoint - The company, Daxing Kegong, has seen a significant increase in its stock price after its IPO, reflecting strong market interest and performance in the folding bicycle industry [1] Company Overview - Daxing Kegong is the largest folding bicycle company in mainland China, leading in both retail volume and retail value for 2024 [1] - The company holds a market share of 26.3% in terms of retail volume and 36.5% in terms of retail value within the mainland folding bicycle industry for 2024 [1] - As of April 30, 2025, the company offers over 70 models of bicycles [1] Patent and Innovation - Daxing Kegong possesses the most patents in the Chinese folding bicycle industry, with 113 valid patents in mainland China as of April 30, 2025 [1] - The company also holds 22 valid patents in the United States, Europe, and Japan [1] Market Position and Valuation - The company is recognized as a leader in a niche segment of the bicycle industry and is currently in a growth phase [1] - The total market capitalization at the time of the IPO was HKD 15.67 billion, with an initial public offering price corresponding to a static PE ratio of approximately 27.4 times, which is higher than the industry average of 22 times [1]

Core Viewpoint - The company, Dahan Kegong, has seen a significant increase in its stock price after its IPO, rising over 27% from the offering price, indicating strong market interest and confidence in its growth potential in the folding bicycle industry [1] Company Overview - Dahan Kegong is the largest folding bicycle company in mainland China, leading in both retail volume and retail value for 2024, with a market share of 26.3% in volume and 36.5% in value [1] - The company offers over 70 models of bicycles as of April 30, 2025 [1] Patent and Innovation - Dahan Kegong holds the most patents in the folding bicycle industry in China, with 113 valid patents as of April 30, 2025, and an additional 22 valid patents in the United States, Europe, and Japan [1] Market Position and Valuation - The company is recognized as a leader in a niche segment of the bicycle industry and is currently in a growth phase, with an IPO market capitalization of HKD 1.567 billion and a static PE ratio of approximately 27.4 times, which is higher than the industry average of 22 times [1]

Group 1 - The core point of the article highlights that shareholders of Dahang Kegong (02543) transferred their shares from Citibank to Goldman Sachs (Asia) Securities, with a transfer market value of HKD 52.3476 million, accounting for 13.11% of the total shares [1] - Dahang Kegong is recognized as the largest folding bicycle company in mainland China, leading in both retail volume and retail value for folding bicycles in 2024 [1] - The company’s IPO received approximately 223,900 valid applications, achieving a subscription multiple of 7558.4 times, surpassing the previous record of 6289 times set by Mak's Noodle in 2018, thus earning the title of the new "super subscription king" in the Hong Kong stock market [1] Group 2 - Guoyuan International previously commented that Dahang Kegong is a leading player in the niche bicycle industry and is currently in a growth phase [1] - The total market value of the IPO is HKD 1.567 billion, with the offering price corresponding to a static PE ratio of approximately 27.4 times, which is higher than the industry average valuation of 22 times [1]

Group 1 - The core viewpoint of the article highlights the significant stock transfer of Daheng Kegong (02543) from Citibank to Goldman Sachs (Asia) Securities, with a market value of HKD 52.35 million, representing 13.11% of the total shares [1] - Daheng Kegong is recognized as the largest folding bicycle company in mainland China, leading in both retail volume and retail value for folding bicycles in 2024 [1] - The company's IPO has garnered approximately 223,900 valid applications, achieving a subscription multiple of 7558.4 times, surpassing the previous record of 6289 times set by Mak's Noodle in 2018, establishing it as the new "super subscription king" in the Hong Kong stock market [1] Group 2 - The total market capitalization for Daheng Kegong's IPO is HKD 1.567 billion, with the offering price corresponding to a static PE ratio of approximately 27.4 times, which is higher than the industry average valuation of 22 times [1] - Guoyuan International previously commented that the company is a leader in the niche bicycle industry and is currently in a growth phase [1]

Core Viewpoint - The capital market is experiencing a vibrant IPO season in September, with significant activity in both domestic and international markets, indicating a shift in the global IPO landscape [2]. Group 1: Companies Approved for IPO - Weite Environment successfully passed the IPO review after changing underwriters and responding to multiple inquiries, with projected revenues of 3.29 billion yuan and net profits of 51.3 million yuan for 2024 [3]. - Yatu High-tech, a high-tech enterprise specializing in industrial coatings, reported a compound annual growth rate of 15.43% in revenue from 2022 to 2024, with a net profit of 145 million yuan in 2024 [4]. Group 2: Newly Listed Companies - Aifenda, a company specializing in HVAC products, saw its stock surge by 170% on its debut, closing at 74.77 yuan with a market cap of 6.48 billion yuan [5]. - Sanxie Electric, a high-tech enterprise in control motors, experienced a dramatic increase of over 860% in stock price on its first day of trading [6]. - Dahan Technology, known as the "first folding bicycle stock" in mainland China, opened at 67.5 HKD, a 36.36% increase from its issue price, with a revenue growth of 77.56% from 2022 to 2024 [8]. Group 3: Companies Filing for IPO - Electric Construction New Energy plans to raise 9 billion yuan, focusing on wind and solar power projects, with a market share of 1.43% in the domestic market [9]. - Xici Technology, a magnetic sensor company, reported fluctuating revenues, with 2024 projected revenue of 703 million yuan [10][11]. - Sige New Energy, founded by a former Huawei executive, achieved 1.2 billion yuan in revenue within four months of operation, with plans to list in Hong Kong [12]. - Maiketian, a global medical solutions provider, reported revenues of 1.31 billion yuan in 2023, with a growth of 15.4% in the first half of 2025 compared to the previous year [14]. - Bomingwei Robotics, a provider of special space robots, reported a revenue of 249 million yuan in 2024, with a compound annual growth rate of 23.9% over the past three years [15]. Group 4: Market Dynamics - Nasdaq plans to raise the minimum public holding market value from 5 million USD to 15 million USD, significantly increasing the cost of listing for Chinese companies [16].

Group 1 - The core viewpoint of the article highlights the significant stock transfer of Daheng Kegong (02543) from Goldman Sachs (Asia) Securities to Futu Securities International Hong Kong, with a market value of HKD 183 million, accounting for 44.49% of the total [1] - Daheng Kegong is recognized as the largest folding bicycle company in mainland China, leading in both retail volume and retail value for folding bicycles in 2024 [1] - The company's IPO has garnered approximately 223,900 valid applications, achieving a subscription multiple of 7558.4 times, surpassing the previous record of 6289 times set by Mak's in 2018, establishing it as the new "super subscription king" in the Hong Kong stock market [1] Group 2 - The total market capitalization for the IPO is HKD 1.567 billion, with the offering price corresponding to a static PE ratio of approximately 27.4 times, which is higher than the industry average valuation of 22 times [1] - Guoyuan International previously commented that the company is a leader in the niche segment of the bicycle industry and is currently in a growth phase [1]

Group 1 - The core point of the article highlights that Daheng Kegong (02543) has transferred shares from Goldman Sachs (Asia) Securities to Futu Securities International, with a market value of HKD 183 million, accounting for 44.49% of the total [1] - Daheng Kegong is recognized as the largest folding bicycle company in mainland China, leading in both retail volume and retail value for folding bicycles in 2024 [1] - The company's IPO has seen significant interest, with approximately 223,900 valid applications and a subscription rate of 7558.4 times, surpassing the previous record of 6289 times set by Mak's Noodle in 2018, establishing it as the new "super subscription king" in the Hong Kong stock market [1] Group 2 - The total market value for the IPO is HKD 1.567 billion, with the offering price corresponding to a static PE ratio of approximately 27.4 times, which is higher than the industry average valuation of 22 times [1] - Guoyuan International previously commented that the company is a leader in the niche segment of the bicycle industry and is currently in a growth phase [1]

Core Viewpoint - The folding bicycle company, Daxing Kegong, has achieved a record 6688 times oversubscription in its IPO, becoming the new "super subscription king" in the Hong Kong stock market, amidst rising outdoor sports trends and significant market share in the folding bicycle sector [2][3]. Financial Performance - Daxing Kegong's revenue is projected to grow from 254 million RMB in 2022 to 451 million RMB in 2024, with a compound annual growth rate (CAGR) of 33.1%. Net profit is expected to increase from 31 million RMB to 52 million RMB during the same period [3]. - The company plans to allocate approximately 30% of its IPO proceeds (around 103 million HKD) for modernizing production systems and expanding operational scale, including a new production facility in Huizhou with an initial capacity of 200,000 units per year [3][4]. Dividend Strategy - Prior to the IPO, Daxing Kegong distributed significant dividends, totaling around 60 million RMB from 2022 to the first four months of 2025, raising questions about the rationale behind its IPO fundraising strategy [4]. - The founder, Han Dewei, holds a concentrated ownership of 90.16%, making him the primary beneficiary of these dividends, which has led to market skepticism regarding the company's intentions [4]. Market Position and Competition - Daxing Kegong holds a 26.3% market share in terms of retail volume and a 36.5% share in retail value within the Chinese folding bicycle market [6]. - The global bicycle market is projected to grow from 165 million units in 2019 to 179 million units by 2024, with the folding bicycle segment representing a small niche, accounting for only 5.3% of the market by retail value [6]. Growth Challenges - The folding bicycle market is characterized by limited growth potential, increased competition, and changing consumer preferences, which may restrict Daxing Kegong's expansion opportunities [7]. - The company is encouraged to enhance product differentiation, explore international markets, and develop related products such as electric folding bicycles to capture emerging trends [7].

Company Overview - Dahan Technology (Shenzhen) Co., Ltd. officially listed on the Hong Kong Stock Exchange under the stock code 02543.HK [1] - Founded by Dr. Han Dewei in 1982, the company has established a product matrix of over 70 models, including folding bikes and electric assist bikes, since settling in Shenzhen in the 1990s [3] Market Position - In 2024, Dahan Technology holds a 26.3% retail volume market share and a 36.5% retail value market share in mainland China, making it the industry leader in the folding bicycle sector [3] IPO Details - The company raised HKD 392 million through its IPO, which will be used for capacity enhancement, equipment upgrades, and innovative product research and development [3] Policy Impact - The successful listing of Dahan Technology reflects the ongoing optimization of Shenzhen's policies towards Taiwanese enterprises, facilitating their development and access to capital markets over the past decade [3]