Venture(US:VEMLY) Zheng Quan Zhi Xing·2025-09-04 13:19Core Viewpoint - Shanghai Jianfa Zhixin Medical Technology Group Co., Ltd. has received approval for its initial public offering (IPO) of ordinary shares (A shares) and listing on the ChiNext board, with the application approved by the Shenzhen Stock Exchange and registered by the China Securities Regulatory Commission [1][19]. Group 1: IPO Details - The company plans to issue 63,193,277 new shares, representing approximately 15.00% of the total share capital post-IPO [19]. - The IPO will be conducted through a combination of strategic placements, offline inquiries to qualified investors, and online offerings to public investors holding non-restricted A shares or depository receipts [19]. - The offering price will be determined based on the median and weighted average of bids from offline investors, excluding the highest bids [3][19]. Group 2: Subscription Process - Offline subscription will occur from 9:30 AM to 3:00 PM, while online subscription will be from 9:15 AM to 11:30 AM and 1:00 PM to 3:00 PM on September 16, 2025 [2]. - Investors do not need to pay subscription funds at the time of bidding [2]. - The strategic placement will involve senior management and core employees, as well as large enterprises with strategic cooperation relationships [3][19]. Group 3: Investor Requirements - Qualified offline investors must submit pricing basis and proposed prices or price ranges before participating in the inquiry [4][8]. - The minimum proposed subscription quantity for offline investors is set at 2.5 million shares, with increments of 1 million shares thereafter [5][6]. - Investors must ensure that their proposed subscription amounts do not exceed their total assets as of the last month-end prior to the inquiry [6][10]. Group 4: Issuance and Allocation - The final allocation of shares will be based on effective subscription multiples, industry valuation levels, and the company's fundamentals [11][12]. - The offline issuance will adopt a proportionate lock-up method, with 90% of shares being freely tradable upon listing and 10% subject to a 6-month lock-up period [13][19]. - The underwriting will be conducted on a balance underwriting basis by the lead underwriter, CITIC Securities [19][20].