Group 1 - The core point of the article is that 聚水潭 (Jushuitan) has successfully listed on the Hong Kong Stock Exchange, with an initial share price set at HKD 30.60 [2] - The company issued a total of 68.1662 million shares, with a net proceeds of approximately HKD 1.938 billion from the offering [2] - As of the report, the stock price has increased by 24.18%, trading at HKD 38, with a transaction volume of HKD 447 million [2]

Core Viewpoint - JuShuiTan (06687) has successfully listed its shares at a price of HKD 30.60, raising approximately HKD 1.938 billion, with a notable initial increase of 24.18% to HKD 38 per share [1] Company Summary - JuShuiTan is the largest e-commerce SaaS ERP provider in China, holding a market share of 24.4% based on projected revenues for 2024, surpassing the combined market share of the second to fifth largest competitors [1] - The e-commerce SaaS ERP market in China is projected to reach RMB 3.1 billion in 2024, with JuShuiTan also ranking first in the e-commerce SaaS market with a market share of 8.7% based on total SaaS revenue for the same year [1] - JuShuiTan offers a comprehensive suite of SaaS products and services designed to enhance business capabilities, improve performance, and facilitate cross-platform operations while significantly reducing deployment and operational costs [1] - The core SaaS product of JuShuiTan is its ERP system, which addresses the essential needs of merchants on major e-commerce platforms for processing orders [1]

Core Viewpoint - JuShuiTan (06687) has successfully listed its shares at a price of HKD 30.60, raising approximately HKD 1.938 billion, with a significant initial trading increase of 24.18% to HKD 38 [1] Company Overview - JuShuiTan is the largest e-commerce SaaS ERP provider in China, holding a market share of 24.4% based on projected revenues for 2024, surpassing the combined market share of the second to fifth largest competitors [1] - The projected size of the Chinese e-commerce SaaS ERP market is estimated to be RMB 3.1 billion in 2024 [1] - In the broader Chinese e-commerce SaaS market, JuShuiTan ranks first with a market share of 8.7% based on total SaaS revenue for 2024 [1] - The company is also the second largest e-commerce SaaS provider in China, with a market share of 7.1% based on relevant revenue for 2024 [1] Product and Service Offering - JuShuiTan offers a comprehensive suite of SaaS products and services designed to help clients seamlessly upgrade their business capabilities, enhance performance, and develop cross-platform operations while significantly reducing deployment and operational costs [1] - The core SaaS product of JuShuiTan is its ERP system, which addresses the essential needs of merchant clients in managing e-commerce orders across major platforms [1]

Core Viewpoint - The company has successfully completed its global offering, raising approximately HKD 1.9376 billion through the issuance of shares at a price of HKD 30.6 each [1] Group 1: Offering Details - A total of 68.1662 million shares were issued, with 10% allocated for the Hong Kong public offering and 90% for international offering [1] - The shares will commence trading on the Hong Kong Stock Exchange on October 21, 2025, at 9:00 AM Hong Kong time [1] Group 2: Subscription Results - The Hong Kong public offering was oversubscribed by 1,952.95 times, indicating strong demand from local investors [1] - The international offering saw an oversubscription of 22.89 times, reflecting significant interest from international investors [1]

Group 1 - The core point of the article is the global offering of 聚水潭, with an issue price of HKD 30.60 per share and a total fundraising amount of HKD 2.086 billion, net proceeds amounting to HKD 1.938 billion [1][2] Group 2 - The number of shares offered globally is 68,166,200, with 6,816,700 shares for the Hong Kong offering and 61,349,500 shares for the international offering [1] - The subscription levels reached 1,952.95 times for the Hong Kong offering and 22.89 times for the international offering, with no trigger for the replenishment mechanism [2] - The cornerstone investors include 13 entities, with each receiving 2,543,300 shares, accounting for 3.73% of the offered shares and 48.50% of the total shares allocated to cornerstone investors [2]

Core Viewpoint - The company, 聚水潭, announced a global offering of 68,166,200 H-shares at a price of HKD 30.60 per share, with a net proceeds of HKD 1.938 billion [1] Group 1: Offering Details - The Hong Kong public offering accounts for 10.00% of the total global offering, with a subscription rate of 1,953 times [1] - The international offering represents 90.00% of the total global offering, with a subscription rate of 22.89 times [1] Group 2: Trading Information - If the global offering becomes unconditional by October 21, 2025, trading is expected to commence on the Hong Kong Stock Exchange at 9:00 AM [1] - H-shares will be traded in board lots of 100 shares, with the stock code being 6687 [1]

Group 1 - The core point of the article is that 聚水潭 (06687) has successfully completed its global offering, raising approximately HKD 1.9376 billion with a share price of HKD 30.6 per share [1] - The global offering consisted of 68.1662 million shares, with 10% allocated for the Hong Kong public offering and 90% for international offering [1] - The shares are expected to commence trading on the Hong Kong Stock Exchange on October 21, 2025, at 9:00 AM Hong Kong time [1] Group 2 - The Hong Kong public offering received an overwhelming subscription rate of 1,952.95 times, while the international offering was subscribed 22.89 times [2]

Core Viewpoint - The company, 聚水潭 (06687), has successfully completed its global offering, raising approximately HKD 1.9376 billion through the issuance of 68.1662 million shares at a price of HKD 30.6 per share [1] Summary by Category Offering Details - The global offering consisted of 68.1662 million shares, with 10% allocated for public offering in Hong Kong and 90% for international offering [1] - The expected trading start date on the Hong Kong Stock Exchange is October 21, 2025, at 9:00 AM Hong Kong time [1] Subscription Demand - The Hong Kong public offering was oversubscribed by 1,952.95 times, indicating strong local interest [1] - The international offering received a subscription rate of 22.89 times, reflecting significant demand from international investors [1]

香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算有限公司 （「香港結算」）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分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。 本公告不得直接或間接於或向美國境內（包括其領土及屬地、美國任何州及哥倫比亞特區）發 佈、刊發或派發。本公告並未且不擬構成或組成在美國或任何其他司法管轄區購買或認購證券 的任何要約或招攬的一部分。發售股份並無亦不會根據1933年美國證券法（經不時修訂）（「美國 證券法」）或任何美國州或其他司法管轄區證券法登記，且不得於美國境內提呈發售、出售、質 押或以其他方式轉讓，惟獲豁免遵守美國證券法及遵守任何適用的州證券法登記規定或在不受 其規限的交易中則另作別論。發售股份(i)於美國境內僅可獲豁免無須遵守美國證券法的登記規 定向「合資格機構買家」（定義見第144A條）提呈發售及出售；及(ii)於美國境外根據美國證券法 項下的S規例以離岸交易方式提呈發售及出售。 本公告僅供參考，並不構成收購、購買或認購證券的邀請或要約。有意投資者於決定是否投資 於發售股份前，務請 ...

Core Viewpoint - The Hong Kong Stock Exchange reported that during the week from October 13 to October 19, 9 companies submitted listing applications, 5 companies passed the hearing, 4 companies launched their IPOs, and 2 new stocks were listed [1]. Group 1: Companies Submitted Listing Applications - Hantian Technology (Xiamen) Co., Ltd. is a leader in the global silicon carbide (SiC) epitaxy industry, focusing on the R&D, mass production, and sales of SiC epitaxy chips, with a projected market share of over 30% in 2024 [2]. - Impression Co., Ltd. is a state-owned cultural tourism service enterprise, ranking eighth in China's cultural tourism performance market in 2024, with revenues of approximately 63.04 million yuan in 2022 [3]. - Guangzhou Yujian Noodle Restaurant Co., Ltd. is the fourth largest operator of Chinese noodle restaurants in China, with a market share of 0.5% in 2024 [4]. - Baishan Cloud Holdings Ltd. is the second largest independent edge cloud service provider in China, with a market share of approximately 2.0% in 2024 [5][6]. - Shouchuang Securities Co., Ltd. is a financial service provider with a strong asset management capability, ranking fifth in revenue growth among 42 A-share listed securities companies from 2022 to 2024 [7]. - Chongqing Qianli Technology Co., Ltd. focuses on AI and mobility solutions, with stable growth in automotive products [8]. - Nanjing Qingtian All Tax Information Technology Co., Ltd. is a leading digital service provider for cross-border enterprises, ranking first in the smart tax solution market in China with a market share of 1.7% in 2024 [9]. - Lakala Payment Co., Ltd. is a leading digital payment provider in Asia, with a market share of 9.4% in 2024 [10]. - Sichuan Xin Hehua Traditional Chinese Medicine Co., Ltd. is one of the largest suppliers of traditional Chinese medicine products in China, ranking second in the market with a 0.4% market share in 2024 [12]. Group 2: Companies Passed Hearing - Seres Group Co., Ltd. focuses on the research, manufacturing, and sales of new energy vehicles, achieving revenues of approximately 340.56 billion yuan in 2022 [13]. - Minglue Technology is a leading data intelligence application software company in China, with revenues of approximately 12.69 billion yuan in 2022 [14]. - Pony AI Inc. specializes in autonomous driving services, with a total operational area exceeding 2000 square kilometers [15]. - Ningbo Joyson Electronic Corp. is a global leader in smart automotive technology solutions, ranking second in China and fourth globally in smart cockpit domain control systems [16][17]. - WeRide Inc. is a pioneer in L4 autonomous driving, with operations in over 30 cities across 11 countries [18]. Group 3: Companies Launched IPOs - Yunji Technology launched its IPO with a subscription that was oversubscribed by 5677 times, raising approximately 189.1 billion HKD [19]. - Haixi New Drug's IPO was delayed for regulatory approval, with a price range of 69.88-86.40 HKD per share [20]. - Jushuitan's IPO was set at 30.60 HKD per share, with a total of 681.66 million shares offered [21]. - Guanghetong's IPO was priced between 19.88-21.5 HKD per share, with a total of approximately 135 million shares offered [21]. Group 4: Newly Listed Stocks - Xuan Bamboo Biotechnology was listed on October 15, 2025, with a closing price of 26.30 HKD per share, reflecting a gain of 126.72% [22]. - Yunji was listed on October 16, 2025, with a closing price of 120.5 HKD per share, reflecting a gain of 26.05% [24].