Core Viewpoint - The global offering of Bailitianheng (02615.HK) has been delayed due to current market conditions, and the company will not proceed with the initial public offering as planned [1] Group 1: Offering Details - Bailitianheng's public offering was initially scheduled from November 7 to 12, with a listing date of November 17 [1] - The company announced that the international underwriting agreement will not be established, and the public offering underwriting agreement will not become unconditional [1] - As of today, the estimated margin for Bailitianheng is approximately HKD 6.33 billion, with the public portion raising HKD 336 million, resulting in an oversubscription of about 17.8 times [1] Group 2: Business Impact - The decision to delay the global offering does not affect the company's current business operations, and the company remains committed to developing and expanding its business [1] - The company and its overall coordinators are carefully evaluating the updated timeline for the global offering and listing [1]