根据本次发行方案，公司同意由整体协调人(代表国际包销商)于2026年2月 10 日悉数行使超额配售权， 按发售价每股 H 股股份106.89 港元发行988.35万股H股股份。前述超额配售权悉数行使后，本次发行的 H 股由6589万 股增加至7577.35万 股。香港联交所已批准该等超额配售股份上市及买卖，预计将于2026 年 2 月 13 日(星期五)上午 9 时开始在香港联交所主板上市及买卖。 格隆汇2月11日丨澜起科技(688008.SH)公布，经香港联交所批准，公司发行的6589万股H 股股票(行使超 额配售权之前)已于 2026 年 2 月 9 日在香港联交所主板挂牌并上市交易。公司 H 股股票中文简称为"澜 起科技"，英文简称为"MONTAGETECH"，股份代号为"6809"。 ...

经香港联合交易所有限公司（以下简称"香港联交所"）批准，澜起科技股 份有限公司（以下简称"公司"） 发行的 65,890,000 股 H 股股票（行使超额配 售权之前）已于 2026 年 2 月 9 日在香港联交所主板挂牌并上市交易（以下简称 "本次发行"）。公司 H 股股票中文简称为"澜起科技"，英文简称为"MONTAGE TECH"，股份代号为"6809"。详见公司于 2026 年 2 月 10 日在上海证券交易 所网站（http://www.sse.com.cn）披露的《关于 H 股挂牌并上市交易的公告》（公 告编号：2026-010）。 根据本次发行方案，公司同意由整体协调人（代表国际包销商）于 2026 年 2 月 10 日悉数行使超额配售权，按发售价每股 H 股股份 106.89 港元（不包括 1% 经纪佣金、0.0027%香港证券及期货事务监察委员会交易征费、0.00565%香港联 交所交易费及 0.00015%香港会计及财务汇报局交易征费）发行 9,883,500 股 H 股 股份。前述超额配售权悉数行使后，本次发行的 H 股由 65,890,000 股增加至 75,773,500 股。香港联 ...

Core Viewpoint - The company, Lanke Technology (688008.SH), expects a significant increase in net profit for the fiscal year 2025, driven by strong demand in the AI industry and a notable rise in the shipment of interconnect chips [1] Financial Performance - The projected net profit attributable to the parent company for 2025 is estimated to be between 2.15 billion and 2.35 billion yuan, representing a year-on-year growth of 52.29% to 66.46% [1] - The net profit excluding non-recurring gains and losses is expected to be between 1.92 billion and 2.12 billion yuan, reflecting a year-on-year increase of 53.81% to 69.83% [1] Industry Trends - The company benefits from the booming AI industry, which has led to a substantial increase in demand for its products [1] - The significant rise in the shipment volume of interconnect chips is a key factor contributing to the company's anticipated growth in operating performance for 2025 [1]

来源：滚动播报 澜起科技在港公告，整体协调人（代表国际承销商）于2026年2月10日悉数行使招股章程所述的超额配 股权，涉及合共9,883,500股H股，占全球发售项下可供认购的发售股份总数（于超额配股权获行使前） 的约15.0%。港交所已批准超额配股权股份上市及买卖。超额配股权股份预期将于2026年2月13日上午 九时正开始在港交所主板上市及买卖。 ...

Group 1 - The company, 澜起科技 (Lianqi Technology), announced that the overall coordinator representing international underwriters fully exercised the over-allotment option on February 10, 2026, involving a total of 9.8835 million H-shares, which accounts for approximately 15.0% of the total shares available for subscription under the global offering before the exercise of the over-allotment option [1] - The H-shares to be issued due to the exercise of the over-allotment option will be allocated and issued at a price of HKD 106.89 per H-share [1] - The Hong Kong Stock Exchange has approved the listing and trading of the over-allotment shares, which are expected to commence on February 13, 2026, at 9:00 AM [1]

Core Viewpoint - Company announced the full exercise of the over-allotment option involving a total of 9,883,500 H-shares, representing approximately 15.0% of the total shares available for subscription under the global offering before the exercise of the over-allotment option [1] Summary by Sections - **Over-allotment Option** - The overall coordinator, representing international underwriters, fully exercised the over-allotment option as of February 10, 2026 [1] - The total number of shares involved is 9,883,500 H-shares [1] - **Share Pricing and Fees** - The H-shares will be issued at a price of HKD 106.89 per share, which is the same as the offering price under the global offering, excluding various fees [1] - Fees include a 1% brokerage commission, a 0.0027% Securities and Futures Commission transaction levy, a 0.00565% Stock Exchange trading fee, and a 0.00015% Financial Reporting Council trading fee [1] - **Listing and Trading** - The Hong Kong Stock Exchange has approved the listing and trading of the over-allotment shares [1] - The over-allotment shares are expected to commence trading on the main board of the Stock Exchange at 9:00 AM on February 13, 2026 [1]

Core Viewpoint - The company, 澜起科技 (Lianqi Technology), announced the full exercise of the over-allotment option by the overall coordinator on February 10, 2026, involving a total of 9.8835 million H-shares, which represents approximately 15.0% of the total shares available for subscription under the global offering before the exercise of the over-allotment option [1] Group 1 - The over-allotment shares will be issued at a price of HKD 106.89 per H-share [1] - The over-allotment shares are intended to facilitate the delivery of a portion of H-shares to the underwriters, who have agreed to delay the delivery of the relevant H-shares subscribed under the global offering [1] - The Hong Kong Stock Exchange has approved the listing and trading of the over-allotment shares, which are expected to commence on February 13, 2026, at 9:00 AM [1]

Investment Rating - The report maintains a "Strong Buy" rating for the domestic computing power industry chain, indicating a positive outlook for investment opportunities in this sector [2]. Core Insights - The report emphasizes that AI inference is leading innovation, with a focus on demand-driven Opex-related areas, specifically storage, power, ASIC, and supernodes [2][28]. - It highlights the expected growth in the domestic storage industry, driven by new products from Yangtze Memory Technologies and Changxin Memory Technologies, alongside a rapid increase in demand for SSDs and HBM [2][29]. - The report anticipates a significant expansion year for storage production, suggesting investors pay close attention to the overall opportunities within the domestic storage industry chain [29]. - The power industry is also highlighted, with a focus on new technologies on both the supply and demand sides, including companies like Sanhua Group and Zhongfu Circuit [30]. - The ASIC segment is expected to see an increase in market share, with a focus on major CSP manufacturers [30]. - The report predicts an evolution in cabinet models, with growth in demand for high-speed interconnects, cabinet OEM, liquid cooling, and PCB [30]. Summary by Sections Market Review - The Shanghai Composite Index fell by 1.27%, while the Shenzhen Component Index dropped by 2.11%, and the overall Shenwan Electronics Index decreased by 5.23% [1][13]. - Year-to-date, the Shenwan Electronics Index has declined by 4.73%, ranking 14th out of 31 sectors [1][13]. Weekly Focus - Nvidia's upcoming Arm architecture-based N1X + N1 processor is discussed, indicating a strategic move into the AI PC and laptop market, competing directly with AMD and Intel [26][27]. - The report notes that Nvidia's new processors will utilize TSMC's 3nm process technology, enhancing performance while maintaining low power consumption [26][27]. Related Research - Previous reports have consistently highlighted the positive outlook for the domestic computing power industry chain, including price increases in semiconductor packaging and storage chips [4][6][5].

Investment Rating - The report maintains a positive outlook on the electronic industry, indicating an "Overweight" rating for the sector, driven by AI computing and semiconductor localization trends [3][4]. Core Insights - The electronic industry is expected to leverage AI computing as a growth engine, with strong performance anticipated in PCB, storage, AI/GPU chips, and semiconductor equipment sectors [3][4]. - The semiconductor equipment and parts sector is experiencing a recovery in demand, particularly benefiting from domestic production [3][4]. - The storage sector is witnessing a significant increase in profitability due to the AI industry trend, with a notable rise in demand and prices for storage products [3][6]. - The AI server and chip sectors are seeing a surge in demand both domestically and internationally, particularly for cloud servers and high-speed switches [3][6]. - The PCB sector is expected to benefit from high-end AI PCB product demand, with companies like Shenghong Technology and Shenyin Electronics leading in performance [3][8]. Summary by Sections 2025 Industry Outlook - The electronic industry is projected to thrive with AI as the main driver and semiconductor localization as a catalyst, with strong performances expected across various sub-sectors [4][5]. - Specific forecasts for companies include: - Jiangfeng Electronics: Revenue of approximately 4.6 billion, net profit growth of 7.5% to 27.5% [5]. - ShenGong Co.: Revenue growth of 42.04% to 48.65%, net profit growth of 118.71% to 167.31% [5]. - Zhongwei Company: Revenue of 12.385 billion, net profit growth of 28.74% to 34.93% [5]. Semiconductor Storage Sector - The storage sector is benefiting from increased demand driven by AI, with prices stabilizing and then rising due to supply-demand imbalances [6][7]. - Key company forecasts include: - Jiangbolong: Expected net profit growth of 150.66% to 210.82% [7]. - Aibin Storage: Revenue growth of 49.36% to 79.23%, with net profit growth of 427.19% to 520.22% [7]. PCB Sector - The PCB sector is expected to continue benefiting from high-end AI product demand, with companies like Shenghong Technology and Shenyin Electronics showing strong performance [8][9]. - Forecasts for Shenghong Technology indicate a net profit increase of 260% to 295% [8].

#分享瑞银 交易概览1 2026年2月9日，瑞银助力澜起科技股份有限公司 (以下简称"澜起科技"或"公司") 成功完成香港联合交易所 ("联交所") 的主板上市，本次发行最终定价为每 股106.89港元，成功实现上限定价。总发行规模为9.03亿美元 (绿鞋前) / 10.39亿美元 (绿鞋后) ，股票代码6809-HK 瑞银担任本次交易的联席保荐人、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 高质量的基石投资者为成功发行奠定了坚实基础。本次发行共17家基石投资者，总计规模约为4.50亿美元 (占绿鞋后发行规模约43%) 交易亮点 本次交易标志着瑞银于2026年在大中华区完成的第14个股票资本市场项目， 也是近20年来港股最大的中国半导体公司上市项、迄今为止港股最大的无晶 圆厂 (Fabless) 半导体公司上市项目，以及2021年4月至今港股最大的TMT上市项目2 高质量的基石投资者阵容展现了投资者对公司基本面、市场地位与吸引力的认可，其中包括以阿里巴巴、云锋、瑞银资管为代表的战略投资者、中资长线 与国际长线等 本次交易受到市场的广泛欢迎，簿记启动后即实现来自主权基金、国际长线和中资基金的多倍 ...