Venture(US:VEMLY) Zheng Quan Zhi Xing·2025-08-27 13:16Core Viewpoint - Beijing Haochuang Ruitong Electric Equipment Co., Ltd. is set to conduct its initial public offering (IPO) and list on the ChiNext board, with the underwriting managed by Changjiang Securities [1][3][30]. Group 1: IPO Details - The total number of shares to be publicly issued is 27,900,000, representing 25.36% of the company's total share capital post-IPO, which will amount to 110,000,000 shares [23][32]. - The initial strategic placement will consist of 5,580,000 shares, accounting for 20% of the total issuance [32]. - The initial offline issuance quantity is set at 15,624,000 shares, which is 70% of the total issuance after deducting the initial strategic placement [24][32]. Group 2: Issuance Process - The issuance will combine offline inquiries to qualified investors and online pricing for public investors holding non-restricted A-shares and depositary receipts [30]. - The pricing will be determined directly through initial inquiries without cumulative bidding [33]. - Investors must submit their pricing basis and proposed price range before participating in the inquiry [5][8]. Group 3: Investor Requirements - Offline investors must meet specific asset scale requirements, with a minimum average market value of 10 million yuan for certain funds and 60 million yuan for others over the 20 trading days prior to the inquiry [14][15]. - Each offline investor can submit up to three price quotes, with the highest quote not exceeding 120% of the lowest quote [6][9]. - The minimum subscription amount for offline investors is set at 1 million shares, with increments of 100,000 shares thereafter [6][28]. Group 4: Lock-up Period - For the shares allocated through offline issuance, 90% will have no lock-up period, while 10% will be subject to a 6-month lock-up period starting from the date of listing [33][32]. - Online issued shares will be freely tradable from the listing date [33]. Group 5: Important Dates - Key dates include the initial inquiry period from September 5, 2025, to September 6, 2025, and the online subscription date on September 11, 2025 [34][35]. - The final allocation results will be published on September 15, 2025 [32][34].