Core Viewpoint - The company Xipuni (02583) has postponed its IPO schedule due to severe weather conditions, with significant oversubscription observed in its public offering [1][2] Group 1: IPO Details - The IPO was originally scheduled from September 19 to 24, but was delayed due to a tropical cyclone warning on September 24 [1] - As of September 25, the company had received HKD 66.3 billion in margin financing, with the public offering amounting to HKD 31.38 million, resulting in an oversubscription of 2,111.8 times [1] - Xipuni plans to issue 10.6 million H-shares, with 10% allocated for public offering at a price range of HKD 27 to 29.6, aiming to raise up to HKD 310 million [1] Group 2: Use of Proceeds - Approximately 40.3% of the net proceeds will be used to enhance production capacity, 33.3% for expanding and optimizing the sales network, strengthening brand building, and increasing brand awareness [1] - 17.1% of the funds will be allocated to establish a research and development center in Putian to enhance R&D capabilities for sustainable business growth, while 9.4% will be used for working capital or general corporate purposes [1] Group 3: Company Overview - Xipuni is a designer, manufacturer, and brand owner of gold watch cases and gold bezel watches in China, primarily generating revenue from its flagship brand HIPINE [2] - The company also earns income by assembling watch movements sourced from external suppliers and acts as an ODM manufacturer for third-party domestic jewelry brands and wholesalers [2] - Financial performance shows revenues of approximately RMB 324 million, RMB 445 million, RMB 457 million, and RMB 231 million for the fiscal years 2022, 2023, 2024, and the first five months of 2025, respectively [2]
新股消息 | 西普尼(02583)获券商借出663亿港元孖展 超购2111倍