公司名稱： 聚水潭集團股份有限公司 呈交日期： 2025年11月19日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 06687 | 說明 | | | | | | | | 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 ...

Core Points - The stock price of Jushuitan Group Co., Ltd. (06687.HK) closed at HKD 27.26, down 7.843%, hitting a new low since its listing [1] - Jushuitan was listed on the Hong Kong Stock Exchange on October 21, 2025, with a total of 68,166,200 shares available for global offering [1] - The offering price was set at HKD 30.60, raising a total of HKD 2,085.89 million, with a net amount of HKD 1,937.62 million after expenses [3] Summary by Category Stock Performance - Jushuitan's stock is currently in a state of decline, having reached a record low of HKD 26.80 during trading [1] Listing Details - The company offered 68,166,200 shares globally, with 6,816,700 shares available for the Hong Kong offering and 61,349,500 shares for international offering [1] Use of Proceeds - Approximately 55% of the net proceeds will be used to enhance R&D capabilities, 25% for sales and marketing, 10% for strategic investments, and 10% for general corporate purposes [3] Key Investors - Notable cornerstone investors include Blue Lake Capital Opportunity Fund, CUAM, Dymon Asia Multi-Strategy Investment Master Fund, and several others [2]

Core Viewpoint - The stock of 聚水潭 (Jushuitan) experienced significant volatility, dropping over 9% during trading, reaching a new low since its listing, indicating potential concerns among investors regarding its market performance [2]. Group 1: Stock Performance - The stock price of 聚水潭 fell to a low of 26.8 HKD, which is a 12% decrease from its initial public offering price of 30.6 HKD [2]. - As of the latest update, the stock was down 6.09%, trading at 27.78 HKD, with a trading volume of 34.969 million HKD [2].

Core Viewpoint - The stock of Jushuitan (06687) has experienced significant volatility, dropping over 9% and reaching a new low since its listing, indicating market concerns about its performance and valuation [1] Company Overview - Jushuitan was established in 2014 and focuses on providing a one-stop SaaS product and service centered around its core product "Jushuitan ERP" [1] - The company reported revenues of 523 million RMB, 697 million RMB, and 910 million RMB for the years 2022 to 2024, respectively, achieving a compound annual growth rate (CAGR) of 31.9% during this period [1] - Jushuitan is expected to turn a profit in 2024, with an adjusted net profit of 48.988 million RMB, ending a three-year cumulative loss exceeding 986 million RMB [1] Recent Developments - On November 16, Jushuitan announced that the overall coordinator fully exercised a 15% over-allotment option, involving a total of 10.2249 million shares at a price of 30.6 HKD per share, generating additional net proceeds of approximately 300 million HKD [1] - The stabilization period for the global offering ended on the same day, during which the stabilization agent, China International Capital Corporation, did not buy or sell any shares [1]

Core Viewpoint - Jushuitan (06687) experienced a significant decline in stock price, dropping over 9% and reaching a new low since its listing, indicating market concerns about its financial performance and growth prospects [1] Company Overview - Jushuitan was established in 2014 and focuses on providing a one-stop SaaS product and service centered around its core product "Jushuitan ERP" [1] - The company is projected to achieve revenues of 523 million RMB, 697 million RMB, and 910 million RMB from 2022 to 2024, with a compound annual growth rate (CAGR) of 31.9% during this period [1] - Jushuitan is expected to turn a profit in 2024, with an adjusted net profit of 48.988 million RMB, ending a three-year cumulative loss exceeding 986 million RMB [1] Stock Performance - On November 16, Jushuitan announced that the overall coordinator fully exercised a 15% over-allotment option, involving a total of 10.2249 million shares at a price of 30.6 HKD per share, generating approximately 300 million HKD in additional net proceeds [1] - The stabilization period for the global offering ended on the same day, during which the stabilizing agent, China International Capital Corporation, did not buy or sell any shares [1]

Group 1 - The stock performance of Jushuitan (06687) has attracted market attention, closing at HKD 29.58 with a trading volume of HKD 22.19 million [1] - On November 15, Jushuitan announced that the overall coordinators fully exercised the 15% over-allotment option, involving a total of 10.2249 million shares at a price of HKD 30.6 per share, bringing in approximately HKD 300 million in net proceeds [3] - Despite the capital injection, Jushuitan's stock price did not experience an uplift and instead declined [3] Group 2 - Jushuitan is a leading player in the Chinese e-commerce SaaS ERP sector, holding a market share of 24.4% in mainland China based on 2024 revenue projections, which exceeds the combined market share of the second to fifth largest competitors [3] - The company is also the second-largest e-commerce SaaS provider in mainland China, with a market share of 7.1% [3] - Despite its strong market position, Jushuitan's stock performance is influenced by various factors, and its future trajectory remains to be observed [3]

聚水潭的联席保荐人、整体协调人、联席全球协调人、联席账簿管理人及联席牵头经办人为中国国 际金融香港证券有限公司、J.P.MorganSecurities(FarEast)Limited；联席账簿管理人及联席牵头经办人 为富途证券国际（香港）有限公司。 配发结果公告显示，聚水潭的基石投资者为Blue Lake Capital Opportunity Fund I, L.P.（"Blue Lake Capital Opportunity Fund"）、汇添富基金管理股份有限公司（"CUAM"）及汇添富资产管理（香 港）有限公司（"汇添富（香港）"，连同CUAM（各为一名基石投资者）统称为"CUAM实体"）、 Dymon Asia Multi-Strategy Investment Master Fund（"DAMSIMF"）、Fourier Capital Management Limited（"Fourier Capital"）、GRANITE ASIA VIII INVESTMENTS PTE. LTD.、景林资产管理香港有 限公司（"香港景林"）、GTCS Holdings Limited（"GTCS Ho ...

Core Viewpoint - Jushuitan (06687) experienced a decline of over 5%, hitting a new low of 28.82 HKD since its listing, falling below the issue price of 30.6 HKD [1] Group 1: Stock Performance - As of the report, Jushuitan's stock price dropped by 5.16%, trading at 29.4 HKD with a transaction volume of 17.55 million HKD [1] Group 2: Share Offering - On November 15, Jushuitan announced that overall coordinators fully exercised a 15% over-allotment option, involving a total of 10.2249 million shares at a price of 30.6 HKD per share, resulting in additional net proceeds of approximately 300 million HKD [1] - The stabilization period for the global offering ended on the same day, during which the stabilizing agent, China International Capital Corporation, did not buy or sell any shares [1] Group 3: Market Position - Jushuitan is recognized as the largest e-commerce SaaS ERP provider in China, holding a market share of 24.4% based on projected revenues for 2024, which exceeds the combined market share of the second to fifth largest competitors [1] - According to data from Frost & Sullivan, Jushuitan is the second-largest e-commerce SaaS provider in mainland China, with a market share of 7.1% based on projected revenues for 2024 [1]

每经AI快讯，聚水潭(06687.HK)跌超5%，盘中低见28.82港元创上市以来新低，并跌穿发行价30.6港 元。截至发稿，跌5.16%，报29.4港元，成交额1755.41万港元。 ...

公开资料显示，聚水潭是中国最大的电商SaaS ERP提供商，根据灼识咨询的资料，以2024年的相关收 入计，占据24.4%的市场份额(超过第二至第五大参与者的市场份额总和)。此外，根据灼识咨询的资 料，以2024年的相关收入计，公司是内地第二大电商SaaS提供商，占据7.1%的市场份额。 消息面上，聚水潭公布，11月15日，整体协调人悉数行使15%超额配股权，涉及合共1022.49万股。每 股作价30.6港元，额外所得净额约3亿港元。此外，有关全球发售的稳定价格期已于同日结束。期间， 稳定价格操作人中国国际金融并无买卖任何股份。 聚水潭(06687)跌超5%，盘中低见28.82港元创上市以来新低，并跌穿发行价30.6港元。截至发稿，跌 5.16%，报29.4港元，成交额1755.41万港元。 ...