致：香港交易及結算所有限公司 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 公司名稱: 深圳西普尼精密科技股份有限公司（於中華人民共和國註冊成立的股份有限公司） 呈交日期: 2025年10月6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) | 02583 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 58,825,000 | RMB | | 1 RMB | | 58,825,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | | 本月底結存 | | | 58,825,000 | RMB | | 1 RMB | | 58,825,000 | 本月底法定/註冊股本總額： ...

Summary of Key Points Core Viewpoint The article provides an overview of the recent activities in the Hong Kong stock market, highlighting the number of companies that have submitted listing applications, those that have passed the hearing process, and new stocks that have been listed. Group 1: Companies Submitting Listing Applications - A total of 30 companies submitted listing applications to the Hong Kong Stock Exchange during the week from September 29 to October 5 [1] - Notable companies include: - Yantai Lannacheng Biotechnology Co., Ltd., a clinical-stage biotech company focused on radiopharmaceuticals for cancer treatment, reported revenues of approximately 1.027 million RMB for 2023 and a loss of about 112 million RMB [2][3] - XGIMI Technology Co., Ltd., the world's largest consumer-grade projector brand by revenue, reported revenues of approximately 4.22 billion RMB for 2022 and a profit of about 501 million RMB [2][3] - WeDoctor Holdings Limited, a leading digital health service provider in China, reported revenues of 1.368 billion RMB for 2022 and a loss of 909 million RMB [4][5] - Puyuan Precision Electronics Co., Ltd., the largest electronic measurement instrument supplier in China, reported revenues of approximately 631 million RMB for 2022 and a profit of about 92.5 million RMB [5][6] - Shenzhen Huanchuang Technology Co., Ltd., a leader in high-precision spatial perception solutions, reported a market share of over 50% in the laser radar products for robotic vacuum cleaners [6] Group 2: Companies Passing Hearing Process - Four companies passed the listing hearing this week: - Jushuitan Group Co., Ltd., the largest e-commerce SaaS ERP provider in China, reported revenues of approximately 523 million RMB for 2022 and a loss of about 507 million RMB [30][31] - Fujian Haixi New Drug Creation Co., Ltd., a commercial-stage pharmaceutical company, reported revenues of approximately 212 million RMB for 2022 and a profit of about 69 million RMB [30][31] - Beijing Tongrentang Medical Investment Co., Ltd., the largest non-public Chinese hospital group by market share, reported revenues of approximately 911 million RMB for 2022 and a loss of about 9.23 million RMB [32] - Beijing Yunji Technology Co., Ltd., a robotics service provider, reported revenues of approximately 161 million RMB for 2022 and a loss of about 365 million RMB [32][33] Group 3: New Stocks Listed - Three new stocks were listed on September 30: - Zijin Gold International, which saw a significant increase in market value, surpassing 350 billion HKD [35] - Xipuni, which had an oversubscription rate of 2505.9 times during its public offering [35] - Botai Che Lian, which also experienced a notable increase in stock price [35]

Group 1 - The Hong Kong stock market is experiencing a "new stock financing boom" in 2025, with over 60 IPOs raising more than 150 billion HKD so far [1] - Xipuni (02583) has become the largest gold watch brand in China by GMV, holding a market share of 27.08% [2] - Xipuni's IPO was oversubscribed significantly, with a final oversubscription ratio of 2505.9 times, indicating strong investor interest [2][3] Group 2 - Xipuni's stock price surged by 258.11% on its first trading day, followed by a 71.13% increase on the second day, but showed a decline of 7% on the third day [3] - The trading volume of Xipuni decreased from 282.28 million shares on the first day to 62 million shares by October 3, indicating a divergence between price and volume [5] - The potential inclusion of Xipuni in the Hong Kong Stock Connect is a key factor for its future stock performance, with its average market capitalization meeting the entry threshold [6][9] Group 3 - Xipuni's revenue has shown consistent growth from 2022 to 2025, with a 21.6% year-on-year increase in the first five months of 2025 [8] - The company's net profit has fluctuated, with a notable recovery in the first five months of 2025, reaching 4.28 million HKD [9] - The gross profit margin has improved from 19.8% in 2022 to 31.01% in the first five months of 2025, indicating positive financial health [9]

Group 1: Market Overview - The Hong Kong stock market is experiencing a "new stock financing boom," with over 60 IPOs raising more than 150 billion HKD as of now [1] - On September 30, three new stocks, including Xipuni, were listed, with Xipuni's first-day surge of 258.11% exemplifying the market's enthusiasm [1] Group 2: Xipuni's IPO Details - Xipuni became the largest gold watch brand in China by market share, reaching 27.08% in 2024 [2] - The company offered 10.6 million shares globally, with only 10% allocated for Hong Kong, leading to a total subscription amount of approximately 4.92 billion HKD on the first day [2] - The oversubscription ratio for Xipuni reached 2505.9 times by the end of the offering period [2] Group 3: Stock Performance Analysis - Xipuni's stock price increased by 258.11% on its first day and further rose by 71.13% on the second day, before a decline of 7% on the third day [3] - Despite the price increase, trading volume decreased significantly from 282.28 million shares on the first day to 62 million shares by October 3, indicating a divergence between price and volume [3][5] Group 4: Future Outlook and Market Conditions - The potential for Xipuni to be included in the Hong Kong Stock Connect is a key factor for its future stock performance, with the current average market capitalization exceeding the entry threshold [6] - The stock market showed strong performance on October 2, with the Hang Seng Index surpassing 27,000 points, and gold-related stocks, including Xipuni, benefiting from this trend [8] - Xipuni's revenue has shown consistent growth from 2022 to 2025, with a notable 21.6% increase in the first five months of 2025 [9] - The company's net profit has been volatile but showed recovery in early 2025, with a gross margin increase from 19.8% in 2022 to 31.01% in the first five months of 2025 [9]

Summary of Key Points Core Viewpoint - As of October 2, 228 stocks reached their 52-week highs, indicating a strong performance in the market, with notable leaders in the financial services and technology sectors [1]. Group 1: Top Performers - The top three stocks with the highest increase rates are: - 时富金融服务集团 (00510) with a high rate of 65.66%, closing at 1.320 and reaching a peak of 1.640 [1]. - 西普尼 (02583) with a high rate of 46.69%, closing at 181.400 and peaking at 190.700 [1]. - WMCH GLOBAL (08208) with a high rate of 22.47%, closing at 0.105 and peaking at 0.109 [1]. Group 2: Additional Notable Stocks - Other significant stocks that reached new highs include: - 德银天下 (02418) with a high rate of 21.32% [1]. - 新龙移动 (01362) with a high rate of 19.15% [1]. - 天时资源 (08028) with a high rate of 17.78% [1]. Group 3: 52-Week Low Rankings - The 52-week low rankings show significant declines, with 新明中国 (02699) dropping by 46.75%, closing at 0.550 and reaching a low of 0.500 [7]. - Other notable declines include: - ＸＩ二南三星－Ｕ with a decline of 15.51% [7]. - 筑友智造科技 (00726) with a decline of 13.33% [7].

Core Viewpoint - The listing of Xipuni on the Hong Kong Stock Exchange has generated significant investor enthusiasm, with its stock price soaring on the first day of trading, reflecting a combination of market conditions and company-specific factors [1][2]. Group 1: Company Overview - Xipuni specializes in the design, manufacturing, and brand operation of gold and precious metal watches, with a focus on gold as the primary material [5][6]. - The company has established itself as a leading player in the gold watch market in China, holding market shares of 27.08% and 28.96% in the gold and precious metal watch segments, respectively [5][6]. - Xipuni's business model includes both brand ownership and ODM (Original Design Manufacturer) services, with a significant portion of revenue coming from its flagship brand [5][6]. Group 2: Market Performance and Investor Sentiment - The initial public offering (IPO) of Xipuni was characterized by a limited number of shares available for public sale, which contributed to speculative trading and price increases [2]. - The company's stock price increased by 189% during pre-listing trading, indicating strong demand from retail investors [1][2]. - Factors such as rising global risk aversion and increasing gold prices have heightened interest in gold-related stocks, benefiting Xipuni [1][2]. Group 3: Financial Performance and Business Strategy - Xipuni reported a 112% year-on-year increase in net profit for the first five months of 2025, driven by rising gold prices despite a decline in traditional watch sales [2][10]. - The company has adopted a pricing strategy based on production costs, which makes it sensitive to fluctuations in gold prices [9][10]. - Xipuni is exploring new markets, including smart gold watches and international expansion, to mitigate risks associated with its core business [13]. Group 4: Challenges and Risks - Xipuni faces challenges such as slow inventory turnover, with days in inventory ranging from 600 to 700 days, compared to competitors with much lower turnover rates [12]. - The company is family-controlled, which may impact decision-making and strategic direction [12][13]. - The limited growth potential in the gold watch segment necessitates that Xipuni seeks new avenues for growth, including increasing its ODM business and exploring new product categories [13].

Core Insights - The Chinese watch brand Xipuni saw its stock price surge nearly 260% on its debut, with a peak increase of 72.5% to HKD 182.8, significantly rising 5.2 times from the IPO price of HKD 29.6 [1] - As of the latest update, Xipuni's stock price increased by 66.51%, trading at HKD 176.5 [1] Summary by Sections - **Stock Performance** - Xipuni's stock reached a high of HKD 182.8, with an opening price of HKD 106.5 and a closing price of HKD 106.0 from the previous day [2] - The stock experienced a trading volume of 816,200 shares and a total transaction value of HKD 127 million [2] - The stock's price fluctuation was 71.98%, with a market capitalization of HKD 10.383 billion [2] - **IPO Subscription Details** - During the public offering phase, Xipuni received a subscription rate of 2505.9 times, with 1.06 million shares allocated, representing about 10% of the total offering [2] - A total of approximately 160,900 valid applications were received, with 9,468 applications processed, resulting in an allocation rate of about 1% for each hand applied [2] - **International Placement** - In the international placement phase, Xipuni achieved a subscription rate of 3.9 times, with 9.54 million shares allocated, accounting for 90% of the total offering [3]

Core Insights - The Chinese watch brand Xipuni (2583.HK) saw its stock price surge 2.6 times on its first trading day, indicating strong market interest and demand [1] - On the following day, the stock price continued to rise, reaching a peak increase of 72.5% to HKD 182.8, representing a total increase of 5.2 times from the IPO price of HKD 29.6 [1] - The IPO raised a net amount of approximately HKD 269 million, showcasing the brand's successful entry into the public market [1] Subscription Details - The public offering portion was oversubscribed by 2504 times, reflecting high investor enthusiasm [1] - Each subscription unit consisted of 100 shares, with a low winning rate of 1% for applicants [1]

Core Viewpoint - Xipuni (02583) experienced significant stock price increases, with a 258.11% rise on the previous trading day and a further 67.74% increase, reaching HKD 177.3, resulting in a total market capitalization of HKD 10.3 billion [1] Company Overview - Xipuni is a designer, manufacturer, and brand owner of gold watch cases and gold watch bezels in China, primarily generating revenue from its flagship brand "HIPINE" focused on solid gold watch products [1] - The company also engages in ODM business, providing manufacturing services for third-party jewelry brands and wholesalers [1] Financial Performance - Revenue is projected to grow from RMB 320 million in 2022 to RMB 456 million in 2024, reflecting a compound annual growth rate (CAGR) of 18% [1] - In the first five months of 2025, the company reported revenue of RMB 230 million, representing a year-on-year growth of 22% [1] - Net profit is expected to increase from RMB 24 million in 2022 to RMB 49 million in 2024, with a CAGR of 43% [1] - For the first five months of 2025, net profit reached RMB 43 million, showing a year-on-year increase of 112% [1]

Core Viewpoint - Xipuni (02583) experienced a significant stock price increase, rising 67% on the second day of trading after a previous surge of 258.11% [1] Company Overview - Xipuni is a designer, manufacturer, and brand owner of gold watch cases and gold watch bezels in China, primarily generating revenue from its flagship brand "HIPINE" focused on solid gold watch products [1] - The company also engages in ODM business, providing manufacturing services for third-party jewelry brands and wholesalers [1] Financial Performance - Revenue is projected to grow from 320 million RMB in 2022 to 456 million RMB in 2024, representing a compound annual growth rate (CAGR) of 18% [1] - In the first five months of 2025, the company reported revenue of 230 million RMB, reflecting a year-on-year growth of 22% [1] - Net profit is expected to increase from 24 million RMB in 2022 to 49 million RMB in 2024, with a CAGR of 43% [1] - For the first five months of 2025, net profit reached 43 million RMB, showing a remarkable year-on-year growth of 112% [1]