Core Viewpoint - Dahon Technology, a leading manufacturer of folding bicycles, is conducting an IPO from September 1 to September 4, aiming to raise approximately HKD 390 million with a share price of HKD 49.5 per share [1][3]. Company Overview - Dahon Technology is the largest folding bicycle company in China, with a market share of 26.3% in retail volume and 36.5% in retail value as of 2024 [4]. - The company offers over 70 bicycle models, targeting different market segments: high-end (above RMB 5,000), mid-range (RMB 2,500 to 5,000), and budget (below RMB 2,500) [4]. Financial Performance - In the previous year, Dahon Technology reported revenue of RMB 450 million, representing a year-on-year growth of 50.2% [5]. - The total profit and comprehensive income amounted to RMB 52.3 million, also reflecting a growth of 50.1% year-on-year [5]. Investment and Subscription Details - As of September 2, Dahon Technology has received at least HKD 61.1 billion in margin subscriptions, with the public offering being oversubscribed by 1,557.7 times [3]. - The company has secured cornerstone investors, including Allianz Global Investors Asia Pacific and others, with a total investment of USD 12.76 million [6]. Use of Proceeds - The net proceeds from the IPO will be allocated as follows: approximately 30% for modernizing production systems and expanding operations, 30% for enhancing the distribution network and brand development, 30% for increasing R&D capabilities, and 10% for working capital and other general corporate purposes [7].
大行科工（09901.hk）招股超购1557倍，拟募集3.9亿元