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。 本公告不得直接或間接於或向美國（包括其領土及屬地、美國任何州以及哥倫比亞特區）發佈、刊發或派發。本公 告並不構成或組成在美國境內或於任何其他司法權區購買或認購證券的任何要約或招攬的一部分。本公告所述證 券並無亦不會根據1933年美國證券法（經不時修訂）（「美國證券法」）或美國任何州或其他司法權區的證券法登記。 證券不得在美國境內提呈發售、出售、質押或以其他方式轉讓，惟獲豁免遵守美國證券法登記規定及符合任何適 用的州證券法，或除非符合美國證券法項下的S規例，否則不得在美國境外提呈發售、出售、質押或以其他方式 轉讓。證券將不會在美國公開發售。 本公告僅作說明用途，並不構成收購、購買或認購證券的邀請或要約。本公告並非招股章程。有意投資者在決定 是否投資所提呈發售的H股前，應閱覽深圳市沃爾核材股份有限公司（「本公司」）刊發日期為2026年2月5日的招股 章程（ ...

| 新股 | 券商 | 子展(亿港元) | 息率% | | --- | --- | --- | --- | | 海致科技 | 富途证券 | 2070.99 | 0.00 | | | 辉立证券 | 512.00 | 0.00 | | | 老虎国际 | 327.78 | 0.00 | | | 华泰国际 | 110.28 | 0.00 | | | 华盛证券 | 44.00 | 0.00 | | | 招银国际 | 40.00 | 0.00 | | (02706) | 盈立证券 | 23.02 | 0.00 | | | 熊猫证券 | 15.40 | 0.00 | | | 信诚证券 | 15.00 | 0.00 | | | 其他总和 | 34.84 | | | | 共计 | 3193.31 | | | | | 集资额:7849.00万港元 | | | | | 认购:超购逾4068.43倍 | | | 沃尔核材 | 富途证券 | 801.20 | 0.00 | | | 辉立证券 | 247.00 | 0.00 | | | 老虎国际 | 124.60 | 0.00 | | | 华泰国际 | 50.58 | 0.00 | | ...

智通财经APP获悉，海致科技(02706)、沃尔核材(09981)正在招股中。截止2月9日，富途证券、老虎国 际等券商合计为海致科技借出990.81亿港元，超购逾1262.34倍；为沃尔核材借出164.26亿港元，超购逾 58.41倍。 | | 新版好展 (2月9日) | | | | --- | --- | --- | --- | | 新股 | 券商 | 子展(亿港元) | 息率% | | 海致科技 | 富途让芬 | 720.97 | 0.00 | | | 老虎国际 | 135.69 | 0.00 | | | 华泰国际 | 39.45 | 0.00 | | | 华盛证券 | 20.20 | 0.00 | | | 盈立证券 | - 17.89 | 0.00 | | | 信诚证券 | 15.00 | 0.00 | | (02706) | 致富证券 | 10.48 | 0.00 | | | 熊猫证券 | 9.07 | 0.00 | | | 辉立证券 | 9.00 | 0.00 | | | 其他总和 | 13.05 | | | | 共计 | 990.81 | | | | | 集资额:7849.00万港元 | | | ...

Core Viewpoint - The recent surge in the stock price of A+H shares, particularly for 澜起科技, indicates a significant shift in market sentiment towards these listings, which were previously considered less attractive. The high demand for new shares, as evidenced by the oversubscription rates, suggests a revaluation of A+H stocks in the current market environment [1]. Group 1: Company Overview - 沃尔核材, established in 1998, is one of the largest manufacturers of heat shrink materials and communication cable products globally. Its main business segments include electronic materials, communication cables, and power transmission for electric vehicles [3]. - By 2024, 沃尔核材 is projected to hold a 20.6% market share in the global heat shrink materials industry and a 12.7% share in the telecommunications cable manufacturing sector [3]. Group 2: Financial Performance - In 2022, 沃尔核材 reported a revenue of 5.34 billion yuan, which is expected to grow to 5.72 billion yuan in 2023 and 6.92 billion yuan in 2024, indicating a steady annual growth [4]. - The net profit for 2022 was 660 million yuan, projected to increase to 758 million yuan in 2023 and 921 million yuan in 2024, reflecting a growth trajectory of approximately 24.5% year-on-year for the first three quarters of 2025 [5]. Group 3: Business Segments - The primary revenue source for 沃尔核材 is electronic materials, accounting for 33.6% of total revenue in the first three quarters of 2025, with a high gross margin close to 41% [8]. - The communication cable segment, particularly high-speed copper cables, is the fastest-growing area, with a revenue increase of 62.46% year-on-year, driven by the demand from AI data centers [7]. - The electric vehicle product segment, which includes high-voltage wiring harnesses and DC charging guns, represents 19.1% of revenue, benefiting from the growth of domestic electric vehicle production [8]. Group 4: Market Position and Valuation - 沃尔核材's expected net profit for 2025 is projected to be between 1.1 billion and 1.18 billion yuan, indicating a year-on-year growth of 30%-39% [9]. - The company's valuation appears reasonable at a price-to-earnings (PE) ratio of 30 times, considering its growth potential in AI and renewable energy sectors [9]. - The IPO price for 沃尔核材 is set at a maximum of 20.09 HKD, with a significant discount compared to its A-share price, suggesting potential for arbitrage in the Hong Kong market [10].

Group 1 - Three companies, XianDao Intelligent (00470), Woer Nuclear Materials (09981), and Haizhi Technology Group (02706), are currently in the process of public offerings [1] - As of February 5, a total of HKD 108.15 billion has been lent by brokers such as Futu and Huatai for XianDao Intelligent, with an oversubscription rate exceeding 25.22 times [1] - For Woer Nuclear Materials, HKD 6 billion has been lent, with an oversubscription rate exceeding 2.13 times [1] - Haizhi Technology Group has received HKD 13.94 billion in loans, with an oversubscription rate exceeding 17.76 times [1] Group 2 - The total amount raised for XianDao Intelligent is HKD 4.29 billion, with a subscription rate of over 25.22 times [2] - Woer Nuclear Materials has raised HKD 2.81 billion, with a subscription rate of over 2.13 times [2] - Haizhi Technology Group has raised HKD 0.7849 billion, with a subscription rate of over 17.76 times [4]

Investment Rating - The investment rating for the company is set at ★★★☆☆ for basic factors and valuation, ★☆☆☆☆ for performance growth, ★★☆☆☆ for industry representation, ★★★☆☆ for industry prosperity, and ★★★★☆ for market conditions [5]. Core Insights - The company holds a leading market position with a global market share of 20.6% in the heat shrink materials industry, ranking first globally, and a domestic market share of 58.5% in China [2]. - The company has demonstrated significant competitive advantages as one of the largest providers of heat shrink materials and communication cable products, benefiting from the strong expansion of high-speed data communication and power transmission [2]. - The company possesses a broad intellectual property portfolio, including 540 invention patents and 1,490 utility model patents in China, showcasing its strong technical capabilities and industry leadership [3]. Financial Summary - The company's revenue for the fiscal year ending December 31 is projected to grow from 53.37 billion RMB in 2022 to 69.20 billion RMB in 2024, with net profit increasing from 6.60 billion RMB to 9.21 billion RMB during the same period [4]. Market Offering - The company plans to issue 1.40 billion shares, with a maximum fundraising amount of 28.12 billion HKD at an offering price of 20.09 HKD per share [6]. - The subscription period for the shares is from February 5 to February 10, with the listing date set for February 13 [6].

* 岑㏔䄬婘撨劭免罆♷僗⪝ 4)&/;)&/80&3)&"54)3*/,"#-&."5&3*"-$0 -5% (於中華人民共和國註冊成立的股份有限公司) 股份代號：9981 聯席保薦人、保薦人兼整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 重要提示： 閣下如對本招股章程的任何內容有任何疑問，應尋求獨立專業意見。 Shenzhen Woer Heat-Shrinkable Material Co., Ltd.* 深圳市沃爾核材股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 聯席賬簿管理人及聯席牽頭經辦人 * 僅供識別 重要提示 全球發售 全球發售項下的發售股份數目 ： 139,988,800股H股 香港發售股份數目 ： 13,999,000股H股（可予重新分配） 國際發售股份數目 ： 125,989,800股H股（可予重新分配） 最高發售價 ： 每股H股20.09港元，另加1.0%經紀佣金、0.0027% 證監會交易徵費、0.00015%會財局交易徵費及 0.00565%香港聯交所交易費（須於申請時以港元 繳足，多繳款項可予退還 ...

1 香港交易及結算所有限公司、香港聯合交易所有限公司（「香港聯交所」）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。 本公告不得直接或間接於或向美國（包括其領土及屬地、美國任何州以及哥倫比亞特區）發佈、刊發或派發。本公 告並不構成，亦不擬構成或組成在美國境內或於任何其他司法權區購買或認購證券的任何要約或招攬的一部分。 本公告所述證券並無亦不會根據1933年美國證券法（經不時修訂）（「美國證券法」）或美國任何州或其他司法權區的 證券法登記。證券不得在美國境內提呈發售、出售、質押或以其他方式轉讓，惟獲豁免遵守美國證券法登記規定 及符合任何適用的州證券法除外。發售股份將不會在美國公開發售。發售股份僅可根據美國證券法S規例以及發 售及出售發生的各司法權區適用法律以離岸交易方式在美國境外提呈發售及出售。 本公告僅作說明用途，並不構成收購、購買或認購證券的邀請或要約。本公告並非招股章程。有意投資者於決定 是否投資所提呈發售的H股前，應閱覽深圳市沃爾核材股份有限公司（「本公 ...

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Post Hearing Information Pack, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Post Hearing Information Pack. Post Hearing Information Pack of Shenzhen Woer Heat-Shrinkable Materia ...

香港交易及結算所有限公司、香港聯合交易所有限公司與證券及期貨事務監察委員會對本 聆訊後資料集的內容概不負責，對其準確性或完整性亦不發表任何意見，並明確表示概不 就因本聆訊後資料集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。 Shenzhen Woer Heat-Shrinkable Material Co., Ltd.* 深圳市沃爾核材股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的聆訊後資料集 警告 本聆訊後資料集乃根據香港聯合交易所有限公司（「聯交所」）與證券及期貨事務監察 委員會（「證監會」）的要求而刊發，僅用作向香港公眾人士提供資料。 Shenzhen Woer Heat-Shrinkable Material Co., Ltd.* 深圳市沃爾核材股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 本聆訊後資料集為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣 下閱覽本文件，即代表 閣下知悉、接納並向本公司、其聯席保薦人、整體協調人、顧問 或包銷團成員表示同意： 本公司招股章程根據香港法例第32章公司（清盤及雜項條文）條例送呈香港 ...