Core Viewpoint - Hebei Haiwei Electronic Materials Technology Co., Ltd. (Haiwei) has listed on the Hong Kong Stock Exchange, opening at HKD 13.50, below the issue price, and closing at HKD 11.00, a decline of 22.97% [1] Group 1: Company Overview - Haiwei is the second-largest capacitor film manufacturer in China based on projected sales volume for 2024 [1] - The company issued a total of 35,456,000 shares, with 3,545,600 shares allocated for public offering in Hong Kong and 31,910,400 shares for international offering [1][2] Group 2: Financial Details - The issue price was set at HKD 14.28, raising a total of HKD 506.31 million, with a net amount of HKD 451.76 million after deducting estimated listing expenses of HKD 54.55 million [2][3] - Haiwei plans to use the proceeds from the global offering to expand production capacity, enhance research and development capabilities, and for general corporate purposes [3] Group 3: Key Investors - The cornerstone investor, Huixing Lihai Co., Ltd., received 15,129,000 shares, accounting for 42.67% of the total shares offered and 9.51% of the total issued share capital post-global offering [5][6] Group 4: Financial Performance - Revenue for Haiwei in 2022, 2023, and projected for 2024 is RMB 327.1 million, RMB 329.5 million, and RMB 421.7 million respectively, with net profits of RMB 102.0 million, RMB 69.8 million, and RMB 86.4 million [6][7] - Cash flows from operating activities showed net cash inflows of RMB 232.1 million in 2022 and RMB 17.2 million in 2024, while 2023 and the first five months of 2025 reported net cash outflows of RMB 89.4 million and RMB 35.8 million respectively [8]

Group 1 - Hong Kong's Hang Seng Index fell by 0.24%, down 61 points, closing at 25,884 points, while the Hang Seng Tech Index rose by 0.11% [1] - Pop Mart (09992) surged over 4%, leading the blue-chip stocks in the Hang Seng Index, supported by government encouragement for trendy toy consumption as the traditional sales season approaches [2] - GAC Group (02238) increased by over 12% following the full delivery of its Aion UT super model and the establishment of a solid-state battery production line [3] Group 2 - Zijin Mining International (02259) rose over 2% as its mining output increased, entering a growth phase in the coming years [4] - Dongyue Group (00189) saw a 4.62% increase, with institutions indicating strong demand for lithium batteries and potential price hikes for PVDF [5] - MicroPort Medical (00853) gained 5% as JPMorgan increased its stake by over HKD 900 million, with Bank of America expressing optimism about its surgical robot business [6] Group 3 - Bole Technology (02592) surged by 12.8% after its core product CBT-009 received patents in Japan and Europe [7] - Cambridge Technology (06166) rose over 4%, with expectations of significant shipments of its 1.6T optical modules in Q1 2026 [8] - Hezhima Intelligent (02533) and Joyson Electronics (00699) both increased by over 4% as they collaborate on a multi-chip platform for robotic domain control products [9] Group 4 - New stock Haiwei Co., Ltd. (09609) debuted with a 15% drop, being the second-largest capacitor film manufacturer in China [10] Group 5 - Food and Beverage ETF (Product Code: 515170) experienced a decline of 1.37% over the past five days, with a PE ratio of 20.73 times and a net redemption of HKD 1.719 million [12] - Gaming ETF (Product Code: 159869) rose by 4.31% over the past five days, with a PE ratio of 36.47 times and a net redemption of HKD 74.789 million [12] - Sci-Tech 50 ETF (Product Code: 588000) fell by 1.21% over the past five days, with a high PE ratio of 147.81 times and a net redemption of HKD 1.54 billion [12]

Core Viewpoint - Capacitor film manufacturer Haiwei Co., Ltd. has made its debut on the Hong Kong Stock Exchange, with an initial share price of HKD 14.28, but experienced a significant drop in share price shortly after listing [1] Summary by Categories Company Overview - Haiwei Co., Ltd. issued a total of 35.456 million shares, with a trading lot size of 200 shares [1] Market Performance - The stock opened below the issue price, falling nearly 19% to HKD 11.6 during intraday trading [1] - Prior to the official listing, Haiwei Co., Ltd. saw a 2.66% increase in its dark market trading, closing at HKD 14.66 with a transaction volume exceeding HKD 39.36 million [1]

Core Points - China capacitor film manufacturer Haiwei Co., Ltd. (9609.HK) debuted on the Hong Kong Stock Exchange today, experiencing a nearly 19% drop to HKD 11.6, resulting in a market capitalization of under HKD 1.8 billion [1] - Haiwei focuses on the research and production of electronic new materials such as capacitor base films and metallized films, primarily used in new energy vehicles and renewable energy power systems [1] - The IPO was priced at HKD 14.28, with the public offering being oversubscribed by 5,425 times, and a subscription rate of 1% for 200 shares [1] - The net proceeds from the fundraising amount to approximately HKD 452 million, which will be used to expand production capacity, enhance R&D capabilities, support sales and marketing activities, and for working capital [1] Financial Summary - Revenue for Haiwei from 2022 to 2024 is projected to be HKD 327 million, HKD 330 million, and HKD 422 million, with the first five months of 2025 expected to generate HKD 157 million [1] - Net profit for the same periods is forecasted to be HKD 102 million, HKD 70 million, HKD 86 million, and HKD 31 million respectively [1]

Core Viewpoint - Haiwei Co., Ltd. (09609) has listed its shares at a price of HKD 14.28, issuing 35.456 million shares, with net proceeds of approximately HKD 452 million. As of the report, the stock has dropped by 5.46% to HKD 13.5, with a trading volume of HKD 103 million [1]. Company Overview - Haiwei Co., Ltd. is the second-largest capacitor film manufacturer in China, with a market share of 10.9% in capacitor base film revenue as of 2024 [1]. - The company's capacitor film products include capacitor base films and metallized films, which are essential components of film capacitors used in various applications such as electric vehicles, renewable energy power systems, industrial equipment, and household appliances [1]. Production Capabilities - Haiwei Electronics is the only company with the capability to independently design and develop production lines for capacitor base films [1]. - The company operates five production lines, all of which are self-designed and assembled, with a delivery time of approximately 8 months, significantly shorter than the industry average of 3-5 years for imported production lines [1]. - The investment cost for a single production line is about HKD 120 million, which is considerably lower than the domestic industry average [1]. - This advantage allows the company to flexibly adjust production line parameters and offer products with thicknesses ranging from 2.7 micrometers to 13.8 micrometers, catering to various end-use applications [1].

Core Viewpoint - Haiwei Co., Ltd. (09609) has listed its shares at a price of HKD 14.28, issuing 35.456 million shares, with net proceeds of approximately HKD 452 million. As of the report, the stock has dropped by 5.46% to HKD 13.5, with a trading volume of HKD 103 million [1] Company Overview - Haiwei Co., Ltd. is the second-largest capacitor film manufacturer in China, with a market share of 10.9% in capacitor base film revenue as of 2024 [1] - The company's capacitor film products include capacitor base films and metallized films, which are key components of film capacitors used in various applications such as electric vehicles, renewable energy power systems, industrial equipment, and household appliances [1] Production Capabilities - Haiwei Electronics is the only company with the capability to independently design and develop capacitor base film production lines, with five production lines that are all self-designed and assembled [1] - The delivery time for the company's self-designed production lines is approximately 8 months, significantly shorter than the industry average of 3-5 years for imported production lines [1] - The investment cost for a single production line is about 120 million yuan, which is considerably lower than the domestic industry average [1] - The company can flexibly adjust production line parameters to offer products with thicknesses ranging from 2.7 micrometers to 13.8 micrometers, catering to various end-use applications [1]

Core Viewpoint - Haiwei Co., Ltd. (09609) has listed its shares at a price of HKD 14.28, issuing 35.456 million shares, with net proceeds of approximately HKD 452 million. As of the report, the stock has dropped by 5.46% to HKD 13.5, with a trading volume of HKD 103 million [1] Company Overview - Haiwei Co., Ltd. is the second-largest capacitor film manufacturer in China, with a market share of 10.9% in capacitor base film revenue as of 2024 [1] - The company's capacitor film products include capacitor base films and metallized films, which are essential components of film capacitors [1] Production Capabilities - Haiwei is the only company with the capability to independently design and develop production lines for capacitor base films [1] - The company has five production lines that are all self-designed and assembled, with a delivery time of approximately 8 months, significantly shorter than the industry average of 3-5 years for imported lines [1] - The investment cost for a single production line is about 120 million yuan, which is considerably lower than the domestic industry average [1] - The company can flexibly adjust production line parameters to offer products with thicknesses ranging from 2.7 microns to 13.8 microns, catering to various end-use applications [1]

Group 1 - Haiwei Co., Ltd. (9609.HK) is listed today [1] - Other companies available for subscription include Meet Xiaomian (2408.HK), Tianyu Semiconductor (2658.HK), Jinyan Gaoling New Materials (2693.HK), and Lemo Technology (2539.HK) [1]

海伟股份(09609)公布配发结果，公司全球发售3525.6万股，香港公开发售占10%，国际发售占90%。每 股发售价14.28港元，全球发售净筹约4.52亿港元。每手200股，预期H股将于2025年11月28日(星期五)上 午九时正(香港时间)于联交所开始买卖。 其中，香港公开发售获5426.27倍认购，国际发售获6.11倍认购。 ...

Core Viewpoint - Haiwei Co., Ltd. has successfully completed its global offering, raising approximately HKD 452 million through the issuance of 35.256 million shares at a price of HKD 14.28 per share [1] Summary by Category Offering Details - The global offering consisted of 35.256 million shares, with 10% allocated to the Hong Kong public offering and 90% to international offering [1] - The expected trading start date for H-shares on the Hong Kong Stock Exchange is November 28, 2025, at 9:00 AM Hong Kong time [1] Subscription Demand - The Hong Kong public offering was oversubscribed by 5,426.27 times, indicating strong local investor interest [1] - The international offering was oversubscribed by 6.11 times, reflecting robust demand from international investors [1]