SICC CO.(SH:688234) Ge Long Hui·2025-08-10 22:49Group 1 - The company plans to globally offer 47.7457 million H-shares, with 2.3873 million shares available in Hong Kong and 45.3584 million shares for international offering, along with an over-allotment option of approximately 15% [1] - The expected pricing date for the shares is August 15, 2025, with a maximum offer price of HKD 42.80 per share, and trading on the Hong Kong Stock Exchange is anticipated to commence on August 19, 2025 [1] - The company is a leading player in the wide-bandgap semiconductor materials industry, focusing on the research and industrialization of silicon carbide substrates, holding a market share of 16.7% as one of the top three manufacturers globally by sales revenue in 2024 [1][2] Group 2 - The company's silicon carbide materials support key industries such as renewable energy and AI, with applications in electric vehicles, AI data centers, photovoltaic systems, and more [2] - The company is recognized for its technological innovation and strong production capabilities, being one of the few able to mass-produce 8-inch silicon carbide substrates and the first to commercialize 2-inch to 8-inch substrates [2] - The company has established business relationships with over half of the top ten power semiconductor device manufacturers globally, utilizing its silicon carbide substrates for power and RF devices [2] Group 3 - The company has entered cornerstone investment agreements, with cornerstone investors agreeing to subscribe for shares totaling HKD 740.2 million, including notable firms such as Guoneng Environmental Investment Group and Hearta Intelligent Control [3] - Assuming a share price of HKD 42.80, the company estimates a net amount of approximately HKD 1.9381 billion from the global offering after deducting underwriting commissions and other expenses [3] - The net proceeds from the offering are planned to be allocated as follows: approximately 70% for expanding production capacity for 8-inch and larger silicon carbide substrates, 20% for enhancing R&D capabilities, and 10% for working capital and general corporate purposes [3]