Shang Hai Zheng Quan Bao·2025-12-17 18:22Core Viewpoint - Jiangsu Xihua New Energy Technology Co., Ltd. has received approval for its initial public offering (IPO) of RMB ordinary shares (A shares) and will be listed on the main board of the Shanghai Stock Exchange [1][2]. Group 1: IPO Details - The stock name is "Xihua Technology" with the stock code "603248" [2]. - The IPO will involve a total issuance of 100 million shares at a price of RMB 10.10 per share, representing 21.74% of the total share capital post-issuance [2][3]. - The initial strategic placement was set at 30 million shares, which is 30% of the total issuance, with the final strategic placement amounting to approximately 28.50% of the total issuance [3][4]. Group 2: Subscription and Allocation - The final allocation after the strategic placement resulted in 5,050.4951 million shares for offline issuance and 2,100 million shares for online issuance [3][4]. - The online subscription saw an initial effective subscription multiple of 7,423.41 times, leading to the activation of a mechanism to adjust the allocation between offline and online investors [4]. - The final online issuance quantity was 49,602,000 shares, accounting for 69.37% of the adjusted total, while the offline issuance was 2,190,295.51 shares, making up 30.63% [4][5]. Group 3: Financial Aspects - The total expenses for the IPO amounted to RMB 84.2343 million, including underwriting fees, audit fees, legal fees, and other costs [11]. - The underwriting fees were RMB 55.5 million, while audit and legal fees were RMB 1.33962 million and RMB 0.64151 million, respectively [11]. - The underwriting firm will cover all shares that were not subscribed by investors, totaling 307,509 shares, which is 0.31% of the total issuance [10].