CATL(300750) 搜狐财经· Sou Hu Cai Jing·2025-05-12 01:21Core Viewpoint - Ningde Times has officially launched its international placement book, marking its upcoming listing on the Hong Kong Stock Exchange, with an expected IPO scale of 5 billion, potentially becoming one of the largest IPOs in recent years in the Hong Kong market [1][3]. Group 1: IPO Details - The upper limit of the IPO price is set at HKD 263.00 per share, reflecting the company's confidence in its value and market recognition of its high pricing [3]. - The company plans to issue 118 million shares, with the potential for overallotment and greenshoe options, which could bring the total fundraising to the anticipated 5 billion if fully exercised [3]. - Notable investors, including Sinopec, Kuwait Investment Authority, Hillhouse Capital, and UBS Asset Management, have shown significant interest, with cornerstone subscriptions amounting to HKD 20.371 billion at the upper price limit [3]. Group 2: Use of Proceeds - 90% of the funds raised will be allocated to the first and second phases of the Hungary project, aimed at enhancing local supply capabilities and solidifying the company's global leadership in the renewable energy sector [3]. Group 3: Company Performance - Ningde Times has demonstrated impressive financial performance, with projected revenue of RMB 362.013 billion and a net profit of RMB 50.745 billion for 2024, reflecting a year-on-year growth of 15.01% [4]. - In Q1 2025, the company achieved revenue of RMB 84.705 billion and a net profit of RMB 13.963 billion, marking a year-on-year increase of 32.85% [4]. - The company's gross margin has consistently risen to 24.4%, and it has returned nearly RMB 60 billion in cash dividends to shareholders since its listing, with a dividend payout ratio of 50% for 2023 and 2024 [4].