IRAY TECHNOLOGY(SH:688301) Zheng Quan Zhi Xing·2025-06-26 16:50Overview - The report discusses the share transfer of Yirui Electronic Technology Group Co., Ltd. (Yirui Technology) by its shareholder Hainan Heyi Investment Co., Ltd. to specific institutional investors through a price inquiry method before the company's initial public offering (IPO) on the Sci-Tech Innovation Board [1][8]. Share Transfer Details - The maximum number of shares to be transferred in this inquiry is 6,122,448 shares, which represents 3.06% of the total share capital of Yirui Technology as of June 20, 2025 [1][6]. - Hainan Heyi holds 34.31% of the shares prior to the IPO [1]. Pricing Mechanism - The price floor for the share transfer is set at no less than 70% of the average trading price of Yirui Technology's shares over the 20 trading days preceding June 20, 2025 [2]. - The final transfer price is determined through a competitive bidding process, with a final price set at 75.86 CNY per share, leading to a total subscription amount of approximately 464.45 million CNY [6][7]. Participation and Allocation - A total of 95 institutional investors were invited to participate in the inquiry, including 18 fund management companies, 14 securities firms, and 49 private fund managers [5]. - The final allocation of shares was made to 22 institutional investors, with the total number of shares allocated being 6,122,448 [6][7]. Compliance and Verification - The inquiry transfer process was verified to be legal and compliant with relevant regulations, including the Company Law and Securities Law of the People's Republic of China [8][14]. - Both the transferor and transferee were confirmed to meet the qualifications required by the inquiry transfer guidelines [10][13].