Venture(US:VEMLY) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-09-05 04:54Core Points - Jiangxi Aifenda HVAC Technology Co., Ltd. has received approval for its initial public offering (IPO) of up to 21.67 million shares on the ChiNext board, with a determined price of RMB 27.69 per share [1][2] - The IPO will utilize a combination of strategic placement, offline issuance, and online issuance methods [1] - The initial strategic placement was set at 4.33 million shares, accounting for 20% of the total issuance, with final strategic placement adjusted to 4.26 million shares, or 19.67% of the total [3][6] Strategic Placement - The strategic placement includes participation from senior management and core employees, with 2.09 million shares allocated to a special asset management plan and 2.17 million shares to other investors [3][6] - The difference of 72,536 shares from the initial to final strategic placement was reallocated to offline issuance [3] Issuance Mechanism - The issuance price is capped at the lower of the median and weighted average of offline investor quotes, excluding the highest bid [2] - A mechanism for reallocating shares from offline to online issuance was activated due to a high subscription rate of 10,974.57 times, leading to an increase in online shares by 348,200 shares [4] Subscription Results - The final subscription results showed that offline investors received 872.60 million shares, while online investors received 868.25 million shares after the reallocation [4] - The online issuance had a winning rate of 0.0152% and an effective subscription multiple of 6,573.37 times [4] Underwriting and Fees - The lead underwriter, Zheshang Securities, will underwrite all shares that online investors chose not to subscribe, totaling 56,097 shares [8] - The total underwriting amount for these shares was RMB 1,553,325.93 [8] - Issuance fees do not include VAT and are subject to minor rounding differences [9]